Document:

Exhibit 4.2

 

WARRANT

 

THIS WARRANT AND THE SECURITIES ISSUABLE UPON EXERCISE OF THIS WARRANT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), AND MAY NOT BE TRANSFERRED, SOLD, ASSIGNED, PLEDGED, HYPOTHECATED OR OTHERWISE DISPOSED OF (“TRANSFERRED”) EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT OR AN EXEMPTION FROM REGISTRATION THEREUNDER. THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO THE PROVISIONS OF THE AMENDED AND RESTATED CERTIFICATE OF INCORPORATION OF JGWPT HOLDINGS INC. AND MAY NOT BE TRANSFERRED UNLESS SUCH TRANSFER COMPLIES WITH THE PROVISIONS OF SUCH CERTIFICATE OF INCORPORATION AND THE TERMS HEREOF.  A COPY OF SUCH AMENDED AND RESTATED CERTIFICATE OF INCORPORATION IS ON FILE WITH THE SECRETARY OF JGWPT HOLDINGS INC. AND IS AVAILABLE WITHOUT CHARGE UPON WRITTEN REQUEST THEREFOR.  THE HOLDER OF THIS CERTIFICATE, BY ACCEPTANCE OF THIS CERTIFICATE, AGREES TO BE BOUND BY ALL OF THE PROVISIONS OF THE AFORESAID CERTIFICATE OF INCORPORATION AND THE TERMS HEREOF.

 

NO TRANSFER, SALE, ASSIGNMENT, PLEDGE, HYPOTHECATION OR OTHER DISPOSITION OF THIS WARRANT OR THE SECURITIES ISSUABLE UPON EXERCISE OF THIS WARRANT MAY BE MADE EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF THE AMENDED AND RESTATED CERTIFICATE OF INCORPORATION OF JGWPT HOLDINGS INC. AND THE TERMS HEREOF.

 

 

Warrant Certificate No.: 2

 

Original Issue Date:  November 14, 2013

 

FOR VALUE RECEIVED, JGWPT Holdings Inc., a Delaware corporation (the “Company”), hereby certifies that PGHI Corp., or its registered assigns (the “Holder”) is entitled to purchase from the Company 483,217 duly authorized, validly issued, fully paid and non-assessable shares of Common Stock (as defined below) at a purchase price per share of $63.01 (the “Exercise Price”), all subject to the terms, conditions and adjustments set forth below in this Warrant.  Certain capitalized terms used herein are defined in Section 1 hereof.

 

1.                                      Definitions. As used in this Warrant, the following terms have the respective meanings set forth below:

 

“Aggregate Exercise Price” means an amount equal to the product of (a) the number of Warrant Shares in respect of which this Warrant is then being exercised pursuant to Section 3 hereof, multiplied by (b) the Exercise Price.

 

“Board” means the board of directors of the Company.

 

“Business Day” means any day on which banks located in the States of New York and Pennsylvania are not required or authorized by law to remain closed.

 

“Commission” means the United States Securities and Exchange Commission.

 

“Common Stock” means the Class A common stock, par value $0.00001 per share, of the Company, and any capital stock into which such Class A Common Stock shall have been converted, exchanged or reclassified following the date hereof.

 

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

 

“Company’s Certificate of Incorporation” means the Amended and Restated Certificate of Incorporation of the Company filed with the Secretary of State of the State of Delaware, as amended.

 

“Convertible Securities” means any securities (directly or indirectly) convertible into or exchangeable for Common Stock, but excluding Options.

 

“Exercise Date” means, for any given exercise of this Warrant, the date on which the conditions to such exercise as set forth in Section 3 shall have been satisfied at or prior to 5:00 p.m., New York, New York time, on a Business Day, including, without limitation, the receipt by the Company of the Exercise Notice, the Warrant and the Aggregate Exercise Price.

 

“Exercise Notice” has the meaning set forth in Section 3(a)(i).

 

“Exercise Period” has the meaning set forth in Section 2.

 

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“Exercise Price” has the meaning set forth in the Preamble.

 

“Fair Market Value” means the volume weighted average sale price per share of Common Stock on the New York Stock Exchange on such date, or if the Common Stock is not listed on the New York Stock Exchange, on the principal national securities exchange on which the Common Stock is then listed or, if the Common Stock is not listed on a national securities exchange, an automated quotation system on which the Common Stock is then listed or authorized for quotation, in each case as reported by Bloomberg Financial Markets (or any successor thereto) through its “Volume at Price” functions and ignoring any block trades (which, for purposes of this definition means any transfer of more than 100,000 shares (subject to adjustment to reflect stock dividends, stock splits, stock combinations and other similar events)), and if the Common Stock is not then listed on a national securities exchange or authorized for quotation on an automated quotation system, such value as the Board, in its reasonable discretion, shall determine.

 

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

 

“Management Stock Option Plans” means the JGWPT Holdings Inc. 2013 Omnibus Incentive Plan, as and to the extent adopted by the Company, and any other equity compensation plan adopted by the Board.

 

“Options” means any warrants or other rights or options to subscribe for or purchase Common Stock or Convertible Securities.

 

“Original Issue Date” means November 14, 2013.

 

“Original Price” has the meaning set forth in Section 4(a).

 

“Person” means any individual, sole proprietorship, partnership, limited liability company, corporation, joint venture, trust, incorporated organization or government or department or agency thereof.

 

“PGHI Warrants” means the warrants originally issued by the Company on the Original Issue Date, as the same may be replaced, amended or modified from time to time.

 

“Warrant” means this Warrant and all warrants issued upon division or combination of, or in substitution for, this Warrant.

 

“Warrant Shares” means the shares of Common Stock or other capital stock of the Company then purchasable upon exercise of this Warrant in accordance with the terms of this Warrant.

 

2.                                      Term of Warrant. Subject to the terms and conditions hereof, at any time or from time to time beginning on the date that is one hundred eighty (180) days immediately following the Original Issue Date and prior to 5:00 p.m., New York Time, on January 8, 2022 (the “Exercise Period”), the Holder of this Warrant may exercise this Warrant for all or any part of the Warrant Shares purchasable hereunder (subject to adjustment as provided herein).

 

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3.                                      Exercise of Warrant.

 

(a)                                 Exercise Procedure. This Warrant may be exercised from time to time on any Business Day during the Exercise Period, for all or any part of the unexercised Warrant Shares, and unless otherwise requested by the holder hereof, this Warrant shall be deemed to have been exercised and such certificate or certificates representing Warrant Shares shall be deemed to have been issued, and the holder or transferee so designated in the Exercise Notice shall be deemed to have become the holder of record of such Warrant Shares for all purposes, as of the close of business on the date on which the Holder:

 

(i)                                     surrenders this Warrant to the Company at its then principal executive offices (or an indemnification undertaking with respect to this Warrant in the case of its loss, theft or destruction, together with an appropriate bond if requested by the Company), together with an Exercise Notice in the form attached hereto as Exhibit A (each, an “Exercise Notice”), duly completed (including specifying the number of Warrant Shares to be purchased) and executed; and

 

(ii)                                  makes payment to the Company of the Aggregate Exercise Price in accordance with Section 3(b).

 

(b)                                 Payment of the Aggregate Exercise Price. Payment of the Aggregate Exercise Price shall be made, at the option of the Holder as expressed in the Exercise Notice, by the following methods:

 

(i)                                     by delivery to the Company of a certified or official bank check payable to the order of the Company or by wire transfer of immediately available funds to an account designated in writing by the Company, in the amount of such Aggregate Exercise Price;

 

(ii)                                  by instructing the Company to withhold a number of Warrant Shares then issuable upon exercise of this Warrant with an aggregate Fair Market Value as of the Exercise Date equal to such Aggregate Exercise Price; provided that the method set forth in this clause (ii) shall be permitted only so long as the Common Stock is listed for trading on the New York Stock Exchange or another national securities exchange;

 

(iii)                               by surrendering to the Company (x) Warrant Shares previously acquired by the Holder with an aggregate Fair Market Value as of the Exercise Date equal to such Aggregate Exercise Price and/or (y) other securities of the Company or JGWPT Holdings, LLC having a value as of the Exercise Date equal to the Aggregate Exercise Price (which value in the case of debt securities shall be the principal amount thereof plus accrued and unpaid interest, in the case of preferred stock shall be the liquidation value thereof, including accrued and unpaid dividends, and in the case of shares of Common Stock shall be the Fair Market Value thereof); or

 

(iv)                              any combination of the foregoing.

 

In the event of any withholding of Warrant Shares or surrender of other equity securities pursuant to clause (ii), (iii), or (iv) above where the number of shares whose value is equal to the Aggregate Exercise Price is not a whole number, the number of shares withheld by or surrendered to the Company shall be rounded up or down to the nearest whole share and the Company shall make a cash payment to the Holder

 

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(by delivery of a certified or official bank check or by wire transfer of immediately available funds) based on the incremental fraction of a share being so withheld by or surrendered to the Company in an amount equal to the product of (x) such incremental fraction of a share being so withheld or surrendered multiplied by (y) in the case of Common Stock, the Fair Market Value per Warrant Share as of the Exercise Date, and, in all other cases, the value thereof as of the Exercise Date determined in accordance with clause (ii)(y) above.

 

(c)                                  Delivery of Stock Certificates. Upon receipt by the Company of the Exercise Notice, surrender of this Warrant and payment of the Aggregate Exercise Price (in accordance with Section 3(a) hereof), the Company shall, as promptly as practicable, and in any event within three (3) Business Days thereafter, execute (or cause to be executed) and deliver (or cause to be delivered) to the Holder a certificate or certificates representing the Warrant Shares issuable upon such exercise, or evidence that Warrant Shares have been issued in book-entry form, together with cash in lieu of any fraction of a share, as provided in Section 3(d) hereof.  Any stock certificate or certificates so delivered shall be, to the extent possible, in such denomination or denominations as the exercising Holder shall reasonably request in the Exercise Notice and shall be registered in the name of the Holder or, subject to compliance with Section 6 below, such other Person’s name as shall be designated in the Exercise Notice. This Warrant shall be deemed to have been exercised and such Warrant Shares shall be deemed to have been issued, and the Holder shall be deemed to have become a holder of record of such Warrant Shares for all purposes, as of the Exercise Date.

 

(d)                                 Fractional Shares. The Company shall not be required to issue a fractional Warrant Share upon exercise of any Warrant. As to any fraction of a Warrant Share that the Holder otherwise would be entitled to purchase upon such exercise, the Company shall pay to such Holder an amount in cash (by delivery of a certified or official bank check or by wire transfer of immediately available funds) equal to the product of (i) such fraction multiplied by (ii) the Fair Market Value of one Warrant Share on the Exercise Date.

 

(e)                                  Delivery of New Warrant. Unless the purchase rights represented by this Warrant shall have expired or shall have been fully exercised, the Company shall, at the time of delivery of the certificate or certificates representing the Warrant Shares being issued in accordance with Section 3(c) hereof, deliver to the Holder a new Warrant evidencing the rights of the Holder to purchase the unexpired and unexercised Warrant Shares called for by this Warrant. Such new Warrant shall in all other respects be identical to this Warrant.

 

(f)                                   Valid Issuance of Warrant and Warrant Shares; Payment of Taxes. With respect to the exercise of this warrant, the Company hereby represents, covenants and agrees:

 

(i)                                     This Warrant is, and any Warrant issued in substitution for or replacement of this Warrant shall be, upon issuance, duly authorized and validly issued.

 

(ii)                                  All Warrant Shares issuable upon the exercise of this Warrant pursuant to the terms hereof shall be, upon issuance, and the Company shall take all such actions as may be necessary or appropriate in order that such Warrant Shares are, validly issued, fully paid and non-assessable, issued

 

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without violation of any preemptive or similar rights of any stockholder of the Company and free and clear of all taxes, liens and charges.

 

(iii)                               The Company shall take all such actions as may be reasonably necessary to ensure that all Warrant Shares are issued without violation by the Company of any applicable law or governmental regulation.

 

(iv)                              At any time that the Common Stock is listed or qualified on a national securities exchange, the Company shall take all such actions as may be reasonably necessary to ensure that all shares of Common Stock into which the Warrant Shares may be converted are issued without violation by the Company of any requirements of such U.S. securities exchange and shall use its reasonable best efforts to cause the Warrant Shares, immediately upon such exercise, to be listed on such U.S. securities exchange (subject to official notice of issuance which shall be immediately delivered by the Company promptly upon each such issuance).

 

(g)                                  Conditional Exercise. Notwithstanding any other provision hereof, if an exercise of any portion of this Warrant is to be made in connection with a public offering of securities of the Company or a direct or indirect sale of the Company (pursuant to a merger, sale of stock, sale of all or substantially all of the assets of the Company, or otherwise), such exercise may at the election of the Holder be conditioned upon the consummation of such transaction, in which case such exercise shall not be deemed to be effective until immediately prior to the consummation of such transaction.

 

(h)                                 Reservation of Shares. During the Exercise Period, the Company shall at all times reserve and keep available out of its authorized but unissued Common Stock or other securities constituting Warrant Shares, solely for the purpose of issuance upon the exercise of this Warrant, the maximum number of Warrant Shares issuable from time to time upon the exercise of this Warrant.  The Company shall take all such actions as may be necessary or appropriate in order that the Company may validly and legally issue fully paid and non-assessable shares of Common Stock upon the exercise of this Warrant.

 

4.                                      Adjustment to Number of Warrant Shares. In order to prevent dilution of the purchase rights granted under this Warrant, the number of Warrant Shares issuable upon exercise of this Warrant shall be subject to adjustment from time to time as provided in this Section 4 (in each case, after taking into consideration any prior adjustments pursuant to this Section 4).

 

(a)                                 Adjustment to Number of Warrant Shares for Dividends, Subdivisions and Combinations Involving the Common Stock. If the Company shall subdivide its outstanding shares of Common Stock into a greater number of shares of Common Stock by way of a stock split, stock dividend or otherwise, or consolidate its outstanding shares of Common Stock into a smaller number of shares of Common Stock, as applicable (any such event being herein called a “Stock Reorganization”), then (i) the Exercise Price shall be adjusted, effective at the close of business on the effective date of such Stock Reorganization, to a price determined by multiplying the Exercise Price in effect immediately prior to such effective date by a fraction, the numerator of which shall be the number of shares of Common Stock outstanding on such effective date before giving effect to such Stock Reorganization and the

 

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denominator of which shall be the number of shares of Common Stock outstanding after giving effect to such Stock Reorganization, and (ii) the number of shares of Common Stock subject to purchase upon exercise of this Warrant shall be adjusted, effective at such time, to a number determined by multiplying the number of shares of Common Stock subject to purchase immediately before such Stock Reorganization by a fraction, the numerator of which shall be the number of shares of Common Stock outstanding after giving effect to such Stock Reorganization and the denominator of which shall be the number of shares of Common Stock outstanding immediately before giving effect to such Stock Reorganization.

 

(b)                                 Other Dividends and Distributions. If the Company shall, at any time or from time to time after the Original Issue Date, make or declare, or fix a record date for the determination of holders of Common Stock entitled to receive, a dividend or any other distribution payable in securities of the Company (other than a dividend or distribution of shares of Common Stock, Options or Convertible Securities in respect of outstanding shares of Common Stock), cash or other property, then, and in each such event, provision shall be made so that the Holder shall receive upon exercise of the Warrant, in addition to the number of Warrant Shares receivable thereupon, the kind and amount of securities of the Company, cash or other property which the Holder would have been entitled to receive had the Warrant been exercised in full into Warrant Shares on the date of such event and had the Holder thereafter, during the period from the date of such event to and including the Exercise Date, retained such securities, cash or other property receivable by them as aforesaid during such period, giving application to all adjustments called for during such period under this Section 4(b) with respect to the rights of the Holder; provided, that no such provision shall be made if the Holder receives, simultaneously with the distribution to the holders of Common Stock, a dividend or other distribution of such securities, cash or other property in an amount equal to the amount of such securities, cash or other property as the Holder would have received if the Warrant had been exercised in full into Warrant Shares on the date of such event.

 

(c)                                  Adjustment to Number of Warrant Shares for Reclassifications, Consolidations and Mergers Involving the Company. In the event of any (i) reclassification of the stock of the Company, (ii) consolidation or merger of the Company with or into another Person, (iii) sale of all or substantially all of the Company’s assets to another Person or (iv) other similar transaction (other than any such transaction covered by Section 4(a) or Section 4(b)), in each case which entitles the holders of Common Stock to receive (either directly or upon subsequent liquidation) stock, securities or assets with respect to or in exchange for Common Stock, each Warrant shall, immediately after such reclassification, consolidation, merger, sale or similar transaction, remain outstanding and shall thereafter, in lieu of or in addition to (as the case may be) the number of Warrant Shares then exercisable under this Warrant, be exercisable for the kind and number of shares of stock or other securities or assets of the Company or of the successor Person resulting from such transaction to which the Holder would have been entitled upon such reclassification, consolidation, merger, sale or similar transaction if the Holder had exercised this Warrant in full immediately prior to the time of such reclassification, consolidation, merger, sale or similar transaction and acquired the applicable number of Warrant Shares then issuable hereunder as a result of such exercise; and, in such case, appropriate adjustment shall be made with respect to the Holder’s rights under this Warrant to insure that the provisions of this Section 4 hereof shall thereafter be applicable, as nearly as possible, to this Warrant in relation to any shares of stock, securities or assets

 

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thereafter acquirable upon exercise of this Warrant.  Notwithstanding anything to the contrary contained herein, with respect to any corporate event or other transaction contemplated by the provisions of this Section 4(c), the Holder shall have the right to elect prior to the consummation of such event or transaction, to exercise this Warrant as provided in Section 2 instead of giving effect to the provisions contained in this Section 4(c) with respect to this Warrant.

 

(d)                                 Certificate as to Adjustment.  As promptly as reasonably practicable following the receipt by the Company of a written request by the Holder, but in any event not later than three (3) Business Days thereafter, the Company shall furnish to the Holder a certificate of an executive officer certifying the number of Warrant Shares or the amount, if any, of other shares of stock, securities or assets then issuable upon exercise of the Warrant.

 

(e)                                  Notices.

 

(i)                                     In the event:

 

a.                                 that the Company shall take a record of the holders of its Common Stock (or other capital stock or securities at the time issuable upon exercise of the Warrant) for the purpose of entitling or enabling them to receive any dividend or other distribution, to receive any right to subscribe for or purchase any shares of capital stock of any class or any other securities, or to receive any other security;

 

b.                                 that there shall be any transaction that is referenced in Section 4(c); or

 

c.                                  of the voluntary or involuntary dissolution, liquidation or winding-up of the Company;

 

then, and in each such case, the Company shall send or cause to be sent to the Holder as soon as reasonably practicable a written notice specifying, as the case may be, (A) the record date for such dividend, distribution or other right, and a description of such dividend, distribution or other right, or (B) the effective date on which such dissolution, liquidation or winding-up is proposed to take place, and the date, if any is to be fixed, as of which the books of the Company shall close or a record shall be taken with respect to which the holders of record of Common Stock (or such other capital stock or securities at the time issuable upon exercise of the Warrant) shall be entitled to exchange their shares of Common Stock (or such other capital stock or securities) for securities or other property deliverable upon such dissolution, liquidation or winding-up, and the amount per share and character of such exchange applicable to the Warrant and the Warrant Shares.  In the case of any action that would require the fixing of a record date referenced in clause (a) above, such notice shall be given at least ten (10) days prior to the date so fixed, and in case of all other actions referenced in clauses (b) and (c) above, such notice shall be given at least twenty (20) days prior to the taking of such proposed action.  Failure to give such notice, or any defect therein, shall not affect the legality or validity of any such action.

 

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(ii)                                  The Company shall provide the Holder with copies of the same notices and other information given to the stockholders of the Company generally, contemporaneously with the giving thereof to the stockholders.

 

5.                                      Holder’s Rights

 

(a)                                 Information Rights:  For so long as the Company is required to file periodic reports with the Commission, the Company shall deliver to the Holder all quarterly and annual financial information that is required to be contained in a filing with the Commission on Forms 10-Q and 10-K, including a “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and, with respect to the annual information only, a report on the annual financial statements by the Company’s independent accountants; provided that the availability of the Company’s filings on the Commission’s web site shall be deemed to satisfy the requirements of this Section 5(a).

 

(b)                                 Registration Rights.  The Warrant Shares shall be considered Registrable Securities, as such term is defined in the Registration Rights Agreement, dated as of November 14, 2013 (the “Registration Rights Agreement”), by and among the Company, the Holder, and certain stockholders of the Company, and the Holder shall be entitled to receive the notices contemplated by, and exercise the registration rights afforded under, Article II of the Registration Rights Agreement, the provisions of which shall apply mutatis mutandis to the Holder and the Warrant Shares issuable hereunder as though the Holder were a party thereto.

 

6.                                      No Transfer of Warrant. The Holder shall not Transfer (as defined below) this Warrant without the prior written consent of the Company, except for a Transfer to a Permitted Transferee (as defined below) of such Holder; provided, however, that prior to any Transfer of this Warrant by such Holder, the Permitted Transferee shall agree in writing to take such Warrant subject to, and to comply with, all of the provisions of this Warrant, a copy of which agreement shall be on file with the Secretary of the Company and shall include the address of such Permitted Transferee to which notices hereunder shall be sent.  As used herein, the following terms shall have the following meanings: (i) “Permitted Transferee” shall have the meaning ascribed to such term in clause (b) of the definition thereof in the Amended and Restated Limited Liability Company Agreement, dated as of November 13, 2013, of JGWPT Holdings, LLC (the “Amended and Restated Operating Agreement”); and (ii) “Transfer” shall have the meaning ascribed to such term in the Amended and Restated Operating Agreement (substituting, for this purpose, the term “Warrant” for the term “Interests” as used therein). Any attempt to Transfer this Warrant except in accordance with the foregoing shall be void ab initio.  Subject to the Transfer restrictions set forth above and referred to in the legend endorsed hereon, this Warrant and all rights hereunder shall be transferable as provided above, in whole or in part, by the Holder without charge to the Holder, upon surrender of this Warrant to the Company at its then principal executive offices with a properly completed and duly executed Assignment in the form attached hereto as Exhibit B, together with funds sufficient to pay any transfer taxes described in Section 3(f)(v) in connection with the making of such transfer. Upon such compliance, surrender and delivery and, if required, such payment, the Company shall execute and deliver a new Warrant or Warrants in the name of the Permitted Transferee or Permitted Transferees and in the denominations specified in such instrument of assignment, and shall issue to the assignor a new

 

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Warrant evidencing the portion of this Warrant, if any, not so assigned and this Warrant shall promptly be cancelled.

 

7.                                      Holder Not Deemed a Stockholder; Limitations on Liability. Prior to the issuance to the Holder of the Warrant Shares to which the Holder is then entitled to receive upon the due exercise of this Warrant, the Holder shall not be entitled to vote or receive dividends or be deemed the holder of shares of capital stock of the Company for any purpose, nor shall anything contained in this Warrant be construed to confer upon the Holder, as such, any of the rights of a stockholder of the Company or any right to vote, give or withhold consent to any corporate action (whether any reorganization, issue of stock, reclassification of stock, consolidation, merger, conveyance or otherwise), receive notice of meetings, receive dividends or subscription rights, or otherwise. In addition, nothing contained in this Warrant shall be construed as imposing any liabilities on the Holder to purchase any securities (upon exercise of this Warrant or otherwise) or as a stockholder of the Company, whether such liabilities are asserted by the Company or by creditors of the Company.

 

8.                                      Replacement on Loss; Division and Combination.

 

(a)                                 Replacement of Warrant on Loss. Upon receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of this Warrant and upon delivery of an indemnity and, in case of mutilation, upon surrender of such Warrant for cancellation to the Company, the Company at the Holder’s expense shall execute and deliver to the Holder, in lieu hereof, a new Warrant of like tenor and exercisable for an equivalent number of Warrant Shares as the Warrant so lost, stolen, mutilated or destroyed; provided, that, in the case of mutilation, no indemnity or bond shall be required if this Warrant in identifiable form is surrendered to the Company for cancellation.

 

(b)                                 Division and Combination of Warrant. Subject to compliance with the applicable provisions of this Warrant as to any Transfer which may be involved in such division or combination, this Warrant may be divided or, following any such division of this Warrant, subsequently combined with other Warrants, upon the surrender of this Warrant or Warrants to the Company at its then principal executive offices, together with a written notice specifying the names and denominations in which new Warrants are to be issued, signed by the respective Holders or their agents or attorneys. Subject to compliance with the applicable provisions of this Warrant as to any Transfer which may be involved in such division or combination, the Company shall at the Holder’s expense execute and deliver a new Warrant or Warrants in exchange for the Warrant or Warrants so surrendered in accordance with such notice. Such new Warrant or Warrants shall be of like tenor to the surrendered Warrant or Warrants and shall be exercisable in the aggregate for an equivalent number of Warrant Shares as the Warrant or Warrants so surrendered in accordance with such notice.

 

9.                                      Compliance with the Securities Act.

 

(a)                                 Agreement to Comply with the Securities Act; Legend. The Holder, by acceptance of this Warrant, agrees to comply in all respects with the provisions of this Section 9 and the restrictive legend requirements set forth on the face of this Warrant and further agrees that such Holder shall not offer, sell or otherwise dispose of this Warrant or any Warrant Shares to be issued upon exercise hereof

 

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except under circumstances that will not result in a violation of the Securities Act of 1933, as amended (the “Securities Act”). This Warrant and all Warrant Shares issued upon exercise of this Warrant (unless registered under the Securities Act) shall be stamped or imprinted with a legend in substantially the following form:

 

“THIS WARRANT AND THE SECURITIES ISSUABLE UPON EXERCISE OF THIS WARRANT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), AND MAY NOT BE TRANSFERRED, SOLD, ASSIGNED, PLEDGED, HYPOTHECATED OR OTHERWISE DISPOSED OF (“TRANSFERRED”) EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT OR AN EXEMPTION FROM REGISTRATION THEREUNDER. THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO THE PROVISIONS OF THE AMENDED AND RESTATED CERTIFICATE OF INCORPORATION OF JGWPT HOLDINGS INC. AND MAY NOT BE TRANSFERRED UNLESS SUCH TRANSFER COMPLIES WITH THE PROVISIONS OF SUCH CERTIFICATE OF INCORPORATION AND THE TERMS HEREOF.  A COPY OF SUCH AMENDED AND RESTATED CERTIFICATE OF INCORPORATION IS ON FILE WITH THE SECRETARY OF JGWPT HOLDINGS INC. AND IS AVAILABLE WITHOUT CHARGE UPON WRITTEN REQUEST THEREFOR.  THE HOLDER OF THIS CERTIFICATE, BY ACCEPTANCE OF THIS CERTIFICATE, AGREES TO BE BOUND BY ALL OF THE PROVISIONS OF THE AFORESAID AMENDED AND RESTATED CERTIFICATE OF INCORPORATION.

 

NO TRANSFER, SALE, ASSIGNMENT, PLEDGE, HYPOTHECATION OR OTHER DISPOSITION OF THIS WARRANT OR THE SECURITIES ISSUABLE UPON EXERCISE OF THIS WARRANT MAY BE MADE EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF THE AMENDED AND RESTATED  CERTIFICATE OF INCORPORATION OF JGWPT HOLDINGS INC. AND THE TERMS HEREOF.

 

10.                               Representations of the Holder. In connection with the issuance of this Warrant, the Holder specifically represents, as of the date hereof, to the Company by acceptance of this Warrant as follows:

 

(a)                                 The Holder is an “accredited investor” as defined in Rule 501 of Regulation D promulgated under the Securities Act. The Holder is acquiring this Warrant and the Warrant Shares to be issued upon exercise hereof for investment for its own account and not with a view towards, or for resale in connection with, the public sale or distribution of this Warrant or the Warrant Shares, except pursuant to sales registered or exempted under the Securities Act.

 

(b)                                 The Holder understands and acknowledges that this Warrant and the Warrant Shares to be issued upon exercise hereof are “restricted securities” under the federal securities laws inasmuch as they are being acquired from the Company in a transaction not involving a public offering and that, under such laws and applicable regulations, such securities may be resold without registration under the Securities Act only in certain limited circumstances. In addition, the Holder represents that it is familiar with Rule 144 under the Securities Act, as presently in effect, and understands the resale limitations imposed thereby and by the Securities Act.

 

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(c)                                  The Holder acknowledges that it can bear the economic and financial risk of its investment for an indefinite period, and has such knowledge and experience in financial or business matters that it is capable of evaluating the merits and risks of the investment in the Warrant and the Warrant Shares. The Holder has had an opportunity to ask questions and receive answers from the Company regarding the terms and conditions of the offering of the Warrant and the business, properties, prospects and financial condition of the Company.

 

11.                               Warrant Register. The Company shall keep and properly maintain at its principal executive offices books for the registration of the Warrant and any transfers thereof. The Company may deem and treat the Person in whose name the Warrant is registered on such register as the Holder thereof for all purposes, and the Company shall not be affected by any notice to the contrary, except any assignment, division, combination or other transfer of the Warrant effected in accordance with the provisions of this Warrant.  The Company reserves the right to amend this Warrant at any time and from time to time in order to appoint a warrant agent to act as agent for the Company with respect to the Warrant, with the Company providing reasonable compensation for the services of any such warrant agent.

 

12.                               Notices. All notices, requests, consents, claims, demands, waivers and other communications hereunder shall be in writing and shall be deemed to have been given: (a) when delivered by hand (with written confirmation of receipt); (b) when received by the addressee if sent by a nationally recognized overnight courier (receipt requested); (c) on the date sent by facsimile or e-mail of a PDF document (with confirmation of transmission) if sent during normal business hours of the recipient, and on the next Business Day if sent after normal business hours of the recipient; or (d) on the third day after the date mailed, by certified or registered mail, return receipt requested, postage prepaid. Such communications must be sent to the respective parties at the addresses indicated below (or at such other address for a party as shall be specified in a notice given in accordance with this Section 12).

 

	
If to   the Company:
    	
 
    	
JGWPT   Holdings Inc.

201 King of   Prussia Road, Suite 501

Radnor, PA 19087-5148

Facsimile:                               (855) 285-5089

E-mail: skirkwood@jgwpt.com

Attention:                               Stephen Kirkwood, Esq.
    
	
 
    	
 
    	
 
    
	
with a   copy to:
    	
 
    	
Skadden, Arps, Slate, Meagher & Flom LLP

920 N.   King St.

Wilmington,   DE 19801

Facsimile:                               (651) 552-3240

Email:   steven.daniels@skadden.com

Attention:   Steven J. Daniels, Esq.
    
	
 
    	
 
    	
 
    
	
If to   PGHI:
    	
 
    	
PGHI   Corp.

6465 E.   Johns Crossing. Suite 200

Johns   Creek, GA 30097

Facsimile:

Email:   craiglessner@gmail.com
    

 

12

 

	
 
    	
 
    	
Attention:   Craig Lessner, Esq.
    
	
 
    	
 
    	
 
    
	
with a   copy to:
    	
 
    	
Shearman &   Sterling LLP

599   Lexington Avenue

New   York, NY 10022

Facsimile:                               (646) 848 8902

E-mail: stephen.besen@shearman.com

Attention:                               Stephen M. Besen, Esq.
    

 

13.                               Cumulative Remedies. Except to the extent expressly provided in Section 7 to the contrary, the rights and remedies provided in this Warrant are cumulative and are not exclusive of, and are in addition to and not in substitution for, any other rights or remedies available at law, in equity or otherwise.

 

14.                               Equitable Relief. Each of the Company and the Holder acknowledges that a breach or threatened breach by such party of any of its obligations under this Warrant would give rise to irreparable harm to the other party hereto for which monetary damages would not be an adequate remedy and hereby agrees that in the event of a breach or a threatened breach by such party of any such obligations, the other party hereto shall, in addition to any and all other rights and remedies that may be available to it in respect of such breach, be entitled to equitable relief, including a restraining order, an injunction, specific performance and any other relief that may be available from a court of competent jurisdiction.

 

15.                               Entire Agreement. This Warrant constitutes the sole and entire agreement of the parties to this Warrant with respect to the subject matter contained herein, and supersedes all prior and contemporaneous understandings and agreements, both written and oral, with respect to such subject matter. In the event of any inconsistency between the statements in the body of this Warrant and such other agreements, the statements in the body of this Warrant shall control.

 

16.                               Successor and Assigns. This Warrant and the rights evidenced hereby shall be binding upon and shall inure to the benefit of the parties hereto and the successors of the Company and the successors and permitted assigns of the Holder. Such successors and/or permitted assigns of the Holder shall be deemed to be a Holder for all purposes hereunder.

 

17.                               No Third-Party Beneficiaries. This Warrant is for the sole benefit of the Company and the Holder and their respective successors and, in the case of the Holder, permitted assigns and nothing herein, express or implied, is intended to or shall confer upon any other Person any legal or equitable right, benefit or remedy of any nature whatsoever, under or by reason of this Warrant.

 

18.                               Headings. The headings in this Warrant are for reference only and shall not affect the interpretation of this Warrant.

 

19.                               Amendment and Modification; Waiver. Except as otherwise provided herein, this Warrant may only be amended, modified or supplemented by an agreement in writing signed by each party hereto. No waiver by the Company or the Holder of any of the provisions hereof shall be effective unless explicitly set forth in writing and signed by the party so waiving. No waiver by any party shall operate or be construed as a waiver in respect of any failure, breach or default not expressly identified by such written

 

13

 

waiver, whether of a similar or different character, and whether occurring before or after that waiver. No failure to exercise, or delay in exercising, any rights, remedy, power or privilege arising from this Warrant shall operate or be construed as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege.

 

20.                               Severability. If any term or provision of this Warrant is invalid, illegal or unenforceable in any jurisdiction, such invalidity, illegality or unenforceability shall not affect any other term or provision of this Warrant or invalidate or render unenforceable such term or provision in any other jurisdiction.

 

21.                               Governing Law. This Warrant shall be governed by and construed in accordance with the laws of the State of Delaware without giving effect to any choice or conflict of law provision or rule thereof.

 

22.                               Submission to Jurisdiction. Any action or proceeding seeking to enforce any provision of, or based on any right arising out of, or relating in any manner to, this Agreement must be brought against any of the parties in the Court of Chancery of the State of Delaware in and for New Castle County or, if the Court of Chancery lacks subject matter jurisdiction, in another court of the State of Delaware, County of New Castle, or in the United States District Court for the District of Delaware, and each of the parties consent to the jurisdiction of such courts (and of the appropriate appellate courts) in any such action or proceeding and waives any objection to venue laid therein.  Process in any action or proceeding referred to in the preceding sentence may be served on any party anywhere in the world.

 

23.                               Waiver of Jury Trial. Each party acknowledges and agrees that any controversy which may arise under this Warrant is likely to involve complicated and difficult issues and, therefore, each such party irrevocably and unconditionally waives any right it may have to a trial by jury in respect of any legal action arising out of or relating to this Warrant or the transactions contemplated hereby.

 

24.                               Counterparts. This Warrant may be executed in counterparts, each of which shall be deemed an original, but all of which together shall be deemed to be one and the same agreement. A signed copy of this Warrant delivered by facsimile, e-mail or other means of electronic transmission shall be deemed to have the same legal effect as delivery of an original signed copy of this Warrant.

 

25.                               No Strict Construction. This Warrant shall be construed without regard to any presumption or rule requiring construction or interpretation against the party drafting an instrument or causing any instrument to be drafted.

 

[SIGNATURE PAGE FOLLOWS]

 

14

 

IN WITNESS WHEREOF, the Company has duly executed this Warrant on the Original Issue Date.

 

 

	
 
    	
 
    	
JGWPT   HOLDINGS INC.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
/s/   Randi K. Sellari
    
	
 
    	
 
    	
Name:
    	
Randi K. Sellari
    
	
 
    	
 
    	
Title:
    	
President
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Accepted   and agreed,
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
PGHI   CORP.
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
/s/   James D. Terlizzi
    	
 
    	
 
    
	
Name:
    	
James   D. Terlizzi
    	
 
    	
 
    
	
Title:
    	
Chief   Executive Officer
    	
 
    	
 
    

 

 

Exhibit A

 

Exercise Notice

 

 

EXERCISE NOTICE

 

	
To:
    	
JGWPT   Holdings Inc. 
    	
Dated:
    	
 
    
	
201 King of Prussia   Road, Suite 501
    	
 
    
	
Radnor, PA 19087-5148
    	
 
    
	
Attn: General Counsel
    	
 
    

 

The undersigned, pursuant to the provisions set forth in the attached Warrant No. 2 hereby irrevocably elects to purchase               shares of the Common Stock covered by such Warrant and herewith makes payment of $                     , representing the full purchase price for such shares at the price per share provided for in such Warrant.  All capitalized terms used herein without definition shall have the same meaning herein as in used in the attached Warrant.

 

The undersigned herewith makes payment of the full purchase price for such shares at the price per share provided for in such Warrant.  Such payment takes the form of (check applicable box or boxes):

 

o                                    by delivery to the Company of a certified or official bank check payable to the order of the Company or by wire transfer of immediately available funds to an account designated in writing by the Company, in the amount of such Aggregate Exercise Price;

 

o                                    by instructing the Company to withhold a number of Warrant Shares then issuable upon exercise of this Warrant with an aggregate Fair Market Value as of the Exercise Date equal to such Aggregate Exercise Price; provided that this method shall be permitted only so long as the Common Stock is listed for trading on the New York Stock Exchange or another national securities exchange;

 

o                                    by surrendering to the Company (x) Warrant Shares previously acquired by the Holder with an aggregate Fair Market Value as of the Exercise Date equal to such Aggregate Exercise Price and/or (y) other securities of the Company having a value as of the Exercise Date equal to the Aggregate Exercise Price (which value in the case of debt securities shall be the principal amount thereof plus accrued and unpaid interest, in the case of preferred stock shall be the liquidation value thereof, including accrued and unpaid dividends, and in the case of shares of Common Stock shall be the Fair Market Value thereof); or

 

o                                    or any combination of the checked boxes above, as detailed below:

 

 

 

 

 

	
 
    	
 
    	
Signature:
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Name   (print):
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Title   (if applic.):
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Company   (if applic.):
    	
 
    
							

 

2

 

Exhibit B

 

Assignment

 

 

ASSIGNMENT

 

(To be executed only upon the assignment of the within Warrant)

 

FOR VALUE RECEIVED, the undersigned registered holder of the within Warrant hereby sells, assigns and transfers unto [                   ], whose address is [                                              ], all of the rights of the undersigned under the within Warrant, with respect to [      ] shares of Common Stock of JGWPT Holdings Inc. and, if such shares shall not include all the Warrant Shares issuable as provided in the within Warrant, that a new Warrant of like tenor for the number of Warrant Shares not being transferred hereunder be issued in the name of and delivered to (choose one) (a) the undersigned or (b)[                         ], whose address is [                                ], and does hereby irrevocably constitute and appoint [                              ] Attorney to register such transfer on the books of JGWPT Holdings Inc. maintained for the purpose, with full power of substitution in the premises.

 

 

NOTICE:

 

 

Dated: [                  ,    ].

 

 

	
 
    	
[                                        ]
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By
    	
 
    
	
 
    	
 
    	
(Signature   of Holder)
    

 

 

NOTICE:                                            The signature on this Assignment must correspond with the name as written upon the face of the within Warrant in every particular, without alteration or enlargement or any change whatever.

 

2Exhibit 4.3

 

REGISTRATION RIGHTS AGREEMENT

 

This REGISTRATION RIGHTS AGREEMENT (this “Agreement”), dated as of November 14, 2013, is by and among JGWPT Holdings Inc., a Delaware corporation (together with its successors by merger, acquisition, reorganization, or otherwise, the “Company”), JLL JGW Distribution, LLC, a Delaware limited liability company, and JGW Holdco, LLC, a Delaware limited liability company (collectively, the “JLL Holders”), and each of the other holders of JGWPT Holdings Common Interests (as defined below) that are signatories hereto (collectively, the “Stockholders”).

 

W  I  T  N  E  S  S  E  T  H

 

WHEREAS, the Company was formed on June 21, 2013, in anticipation of a proposed initial public offering of shares of Class A common stock, par value $0.00001 per share, of the Company (the “Class A Shares”);

 

WHEREAS, on the date hereof, the Company acquired an approximately 38.6% equity interest in JGWPT Holdings, LLC, a Delaware limited liability company (“JGWPT Holdings”), and, on November 13, 2013, became the Managing Member of JGWPT Holdings under the Amended and Restated Limited Liability Company Agreement, dated as of November 13, 2013, of JGWPT Holdings (the “Limited Liability Company Agreement”);

 

WHEREAS, each of the Stockholders is a holder of limited liability company interests in JGWPT Holdings designated as “Common Interests” (“JGWPT Holdings Common Interests”) and, except in the case of PGHI Corp., a Delaware corporation (“PGHI”), shares of Class B common stock, par value $0.00001 per share, of the Company (“Class B Shares”);

 

WHEREAS, pursuant to the Limited Liability Company Agreement, each of the Stockholders other than PGHI is entitled to exchange JGWPT Holdings Common Interests for Class A Shares from and after the filing by the Company of a mandatory Shelf Registration Statement, and the effectiveness thereof;

 

WHEREAS, pursuant to the Limited Liability Company Agreement, PGHI is entitled to exchange JGWPT Holdings Common Interests for shares of Class C common stock, par value $0.00001 per share, of the Company (“Class C Shares”), which may in turn be converted into Class A Shares, from and after the filing by the Company of a mandatory Shelf Registration Statement, and the effectiveness thereof;

 

WHEREAS, the parties to this Agreement desire to set forth certain registration rights applicable to the Registrable Securities (as hereinafter defined) held by the Stockholders.

 

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

 

 

ARTICLE I
  CERTAIN DEFINITIONS

 

1.1                                 The term “Affiliate” of any Person shall mean another Person that directly or indirectly, through one or more intermediaries, controls, is controlled by, or is under common control with, such first Person.

 

1.2                                 The term “Board” shall mean the Board of Directors of the Company.

 

1.3                                 The term “Commission” shall mean the United States Securities and Exchange Commission or any successor agency.

 

1.4                                 The term “Company IPO” shall mean the initial offering by the Company of Class A Shares to the public through underwriters pursuant to the registration statement on Form S-1 (333-191585).

 

1.5                                 The term “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

 

1.6                                 The term “Fair Market Value” shall mean, provided that the provisions for exchange set forth in Article IX of the Limited Liability Company Agreement remain applicable and in effect, any JGWPT Holdings Common Interests, the volume weighted average sale price per Class A Share on the New York Stock Exchange on such date, or if Class A Shares are not listed on the New York Stock Exchange, on the principal national securities exchange on which the Class A Shares are then listed or, if the Class A Shares are not listed on a national securities exchange, an automated quotation system on which the Class A Shares are then listed or authorized for quotation, in each case as reported by Bloomberg Financial Markets (or any successor thereto) through its “Volume at Price” functions and ignoring any block trades (which, for purposes of this definition means any transfer of more than 100,000 shares (subject to adjustment to reflect stock dividends, stock splits, stock combinations and other similar events)), and if the Class A Shares are not then listed on a national securities exchange or authorized for quotation on an automated quotation system, such value as the Board, in its reasonable discretion, shall determine.

 

1.7 The term “Lock-Up Period” shall mean the period of one hundred eighty (180) days immediately following the date of the pricing of the Company IPO (or such lesser number of days as may be agreed to by the representatives of the underwriters of the Company IPO, whether under the terms of an applicable lock-up agreement or otherwise, it being understood that as used herein the term “Lock-Up Period” shall mean, with respect to any holder and any particular Shares, the actual number of days agreed to by the representatives of the underwriters with respect to such holder and such Shares).

 

1.8                                 The term “Notice and Questionnaire” shall mean a written notice delivered to the Company containing substantially the information called for by the Selling Securityholder Notice and Questionnaire attached as Annex A to this Agreement.

 

1.9                                 The term “Notice Stockholder” shall mean, on any date, any Stockholder that has delivered a Notice and Questionnaire to the Company on or prior to such date.

 

 

1.10                                                   The term “Permitted Transferee” shall have the meaning set forth in the Limited Liability Company Agreement.

 

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

 

1.12                           The term “Public Offering” shall mean a public offering of equity securities of the Company pursuant to an effective registration statement under the Securities Act (other than (i) a registration statement filed under Regulation A or on Form S-4 or any successor form, (ii) the Shelf Registration Statement, or (iii) a registration statement filed on Form S-8 or any successor form).

 

1.13                           The term “Registrable Securities” shall mean the Shares (as hereinafter defined); provided, however, that as to any particular Registrable Securities, such securities shall cease to be Registrable Securities when (i) a registration statement registering such securities under the Securities Act has been declared effective and such securities have been sold or otherwise transferred by the holder thereof pursuant to such effective registration statement; or (ii) such securities are sold in accordance with Rule 144 (or any successor provision) promulgated under the Securities Act; or (iii) such securities are transferred under circumstances in which any legend borne by the certificates for such securities relating to restrictions on transferability thereof, under the Securities Act or otherwise, is removed by the Company.

 

1.14                           The term “Securities Act” shall mean the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

 

1.15                           The term “Shares” shall mean (i) all Class A Shares owned by the Stockholders as of the date hereof; and (ii) additional Class A Shares acquired by the Stockholders in any manner after the date hereof.

 

1.16                           The term “Transfer” shall mean any voluntary or involuntary attempt to, directly or indirectly through the transfer of interests in controlled Affiliates or otherwise, offer, sell, assign, transfer, grant a participation in, pledge, or otherwise dispose of any Shares, or the consummation of any such transactions, or the soliciting of any offers to purchase or otherwise acquire, or taking a pledge of, any of the Shares; provided, however, that the transfer of an interest in any of the Stockholders shall not be deemed to be a transfer.

 

ARTICLE II
  REGISTRATION RIGHTS

 

2.1                                 Demand Registrations.

 

(a)          Requests for Registration.  At any time after the expiration of the Lock-Up Period, (i) the JLL Holders that beneficially own Class A Shares by virtue of the right to exchange JGWPT Holdings Common Interests for Class A Shares pursuant to the Limited Liability Company Agreement, (ii) PGHI (together with its Permitted Transferees that hold Class A Shares (including Class A Shares beneficially owned by virtue of the right to convert Class C Shares into Class A Shares pursuant to the Company’s Amended and Restated Certificate of

 

 

Incorporation and Class A Shares beneficially owned by virtue of the right to exercise warrants pursuant to the warrants issued by the Company to PGHI on the date hereof)) and (iii) any Stockholder or group of Stockholders that beneficially own Class A Shares by virtue of the right to exchange JGWPT Holdings Common Interests that were issued upon conversion of former “Preferred Interests” in JGWPT Holdings (“Former Preferred Interestholders”) for Class A Shares pursuant to the Limited Liability Company Agreement), shall each be entitled to make a written request of the Company (a “Demand”) for registration under the Securities Act of all or part of the Registrable Securities (a “Demand Registration”).  Any demand by PGHI or its Permitted Transferees pursuant to clause (ii) of the immediately preceding sentence shall only be made by holders of at least twenty percent (20%) of the aggregate number of JGWPT Holdings Common Interests held by PGHI as of July 12, 2011, and any demand by Former Preferred Holders pursuant to clause (iii) of the immediately preceding sentence shall only be made by holders of at least thirty-three percent (33%) of the JGWPT Holdings Common Interests outstanding that were issued upon conversion of former “Preferred Interests” in JGWPT Holdings (other than JGWPT Holdings Common Interests held by the JLL Holders). Such Demand shall specify:  (A) the aggregate number of Registrable Securities requested to be registered, (B) the intended method of distribution in connection with such Demand Registration to the extent then known and (C) the identity of each Stockholder (a “Demanding Holder”) requesting such Demand.  Within ten (10) business days after receipt of a Demand, the Company shall give written notice of such Demand (an “Incidental Registration Notice”) to all other Stockholders and shall include in such registration all Registrable Securities with respect to which the Company has received a written request for inclusion therein within twenty (20) business days after the receipt by such Stockholder of the Company’s notice required by this paragraph; provided that (x) any Stockholder who seeks to exercise his, her or its rights under this Section 2.1(a) shall be required to exchange his, her or its JGWPT Holdings Common Interests for Class A Shares within ten (10) days of such Stockholder’s receipt of the Incidental Registration Notice; and provided further, that the Company shall not be required to file any registration statement covering Registrable Securities with an aggregate Fair Market Value less than $10 million.

 

(b)                                 Each Stockholder wishing to sell Registrable Securities pursuant to a Demand Registration agrees to deliver a Notice and Questionnaire to the Company at least five (5) business days prior to any intended distribution of Registrable Securities pursuant to a Demand Registration, and the Company shall provide that the Stockholder delivering such Notice and Questionnaire is named as a selling security holder in the Demand Registration and the related prospectus in such a manner as to permit such Stockholder to deliver such prospectus to purchasers of the Registrable Securities in accordance with applicable law.  Notwithstanding anything contained herein to the contrary, the Company shall be under no obligation to name any Stockholder that is not a Notice Stockholder as a selling security holder in any registration statement under the Securities Act or related prospectus; provided, however, that any Stockholder that becomes a Notice Stockholder pursuant to the provisions of this Section 2.1(b) shall be named as a selling security holder in the Demand Registration in accordance with the requirements of this Section 2.1(b).

 

(c)                                  Number and Timing of Demands.  The JLL Holders, PGHI (together with its Permitted Transferees), and the Former Preferred Holders shall each be entitled to no more than one (1) Demand Registration in any twelve (12) month period and shall not be

 

 

permitted to exercise their Demand rights pursuant to this Section 2.1 until the expiration of the Lock-Up Period.

 

(d)                                 Satisfaction of Obligations.  A registration shall not be treated as a permitted Demand for a Demand Registration until (i) the applicable registration statement under the Securities Act has been filed with the Commission with respect to such Demand Registration (which shall include any registration statement that is not withdrawn by holders of Registrable Securities in the circumstances contemplated by Section 2.3 hereof), and (ii) such registration statement shall have been maintained continuously effective for a period of at least one hundred eighty (180) days or such shorter period during which all Registrable Securities included therein have been disposed of thereunder in accordance with the method of distribution set forth in such registration statement.

 

(e)                                  Availability of Short Form Registrations.  The Company shall use its reasonable best efforts to comply with the requirements for use of short form registration for the sale of Registrable Securities under the Securities Act.

 

(f)                                    Restrictions on Demand Registrations.  The Company shall not be obligated (i) in the case of a Demand Registration, to maintain the effectiveness of a registration statement under the Securities Act, for a period longer than one hundred eighty (180) days or (ii) to effect any Demand Registration within one hundred eighty (180) days after the effective date of (A) a “firm commitment” underwritten registration in which all Stockholders were given “piggyback” rights pursuant to Section 2.2 hereof (provided that, with respect to such a registration in which such piggyback rights were exercised, each such Stockholder exercising such piggyback rights was permitted to include in such registration seventy-five percent (75%) of the Registrable Securities that such Stockholder sought to include therein) or (B) any other Demand Registration.  In addition, the Company shall be entitled to postpone (upon written notice to all Stockholders) for up to ninety (90) days the filing or the effectiveness of a registration statement in respect of a Demand (but no more than once in any period of twelve (12) consecutive months) if the Board determines in good faith and in its reasonable judgment that effecting the Demand Registration in respect of such Demand would have a material adverse effect on any proposal or plan by the Company to engage in any debt or equity offering, material acquisition or disposition of assets (other than in the ordinary course of business) or any merger, consolidation, tender offer or other similar transaction.  In the event of a postponement by the Company of the filing or effectiveness of a registration statement in respect of a Demand, the Demanding Holders shall have the right to withdraw such Demand in accordance with Section 2.3 hereof.

 

(g)                                 Participation in Demand Registrations.  The Company shall not include any securities other than Registrable Securities in a Demand Registration, except with the written consent of the holders of the majority of the Registrable Securities sought to be registered pursuant to such Demand Registration held by all the Demanding Holders.  If, in connection with a Demand Registration, any managing underwriter (or, if such Demand Registration is not an underwritten offering, a nationally recognized independent underwriter selected by the Demanding Holders of a majority of the Registrable Securities held by all the Demanding Holders (which such underwriter shall be reasonably acceptable to the Company and whose fees and expenses shall be borne solely by the Company)) advises the Company and the

 

 

Demanding Holders of a majority of the Registrable Securities held by all the Demanding Holders that, in its opinion, the inclusion of all the Registrable Securities and, if authorized pursuant to this Article II, other securities of the Company, in each case, sought to be registered in connection with such Demand Registration would adversely affect the marketability of the Registrable Securities sought to be sold pursuant thereto, then the Company shall include in the registration statement applicable to such Demand Registration only such securities as the Company and the Demanding Holders of Registrable Securities sought to be registered therein are advised by such underwriter can be sold without such an effect (the “Maximum Demand Number”), as follows and in the following order of priority:

 

(i)                                     first, the number of Registrable Securities sought to be registered by each of the Demanding Holders pro rata in proportion to the number of Registrable Securities sought to be registered by all such sellers; and

 

(ii)                                  second, if the number of Registrable Securities to be included under clause (i) above is less than the Maximum Demand Number, the number of securities sought to be included by each other seller, pro rata in proportion to the number of securities sought to be sold by all such other sellers, which in the aggregate, when added to the number of securities to be included pursuant to clause (i) above, equals the Maximum Demand Number.

 

(h)                                 Selection of Underwriters.  If the Demanding Holders of a majority of the Registrable Securities held by all the Demanding Holders request that such Demand Registration be an underwritten offering, then the Company shall select a nationally recognized underwriter or underwriters to manage and administer such offering, such underwriter or underwriters, as the case may be, to be subject to the approval of the Demanding Holders of a majority of the Registrable Securities held by all the Demanding Holders, which approval shall not be unreasonably conditioned, withheld or delayed.

 

(i)                                     Other Registrations.  If the Company has received a Demand and if the applicable registration statement in respect of such Demand has not been withdrawn or abandoned, the Company shall not file or cause to be effected any other registration of any of its equity securities or securities convertible or exchangeable into or exercisable for its equity securities under the Securities Act (other than a registration pursuant to an Exchange Registration Statement (as such term is defined in Section 2.4 below), a registration relating to the Company employee benefit plans, exchange offers by the Company or a merger or acquisition of a business or assets by the Company, including, without limitation, a registration on Form S-4 or S-8 or any successor form), whether on its own behalf or at the request of any holder or holders of such securities, until a period of at least ninety (90) days has elapsed from the effective date of any Demand Registration, unless a shorter period of time is approved by the Demanding Holders of a majority of the Registrable Securities held by all the Demanding Holders.  Notwithstanding the foregoing, the Company shall be entitled to postpone any such Demand Registration and may file or cause to be effected such other registration in accordance with the terms of Section 2.1(e) hereof.

 

 

2.2                                 Piggyback Registrations.

 

(a)          Right to Piggyback.  Subject to the last sentence of this Section 2.2(a), and the other conditions set forth herein, at any time following completion of the Company IPO, whenever the Company proposes to conduct a Public Offering (a “Piggyback Registration”), the Company shall give all Stockholders prompt written notice thereof (but not less than ten (10) business days prior to the filing by the Company with the Commission of any registration statement with respect thereto).  Such notice (a “Piggyback Notice”) shall specify, at a minimum, the number of securities proposed to be registered, the proposed date of filing of such registration statement with the Commission, the proposed method of distribution, the proposed managing underwriter or underwriters (if any and if known), and a good faith estimate by the Company of the proposed minimum offering price of such securities.  Upon the written request of a Stockholder given within ten (10) business days of such Stockholder’s receipt of the Piggyback Notice (which written request shall specify the number of Registrable Securities intended to be disposed of by such Stockholder and the intended method of distribution thereof), the Company shall include in such registration all Registrable Securities with respect to which the Company has received such written requests for inclusion; provided that (x) any Stockholder who seeks to exercise his rights under this Section 2.2(a) shall be required to exchange his, her or its JGWPT Holdings Common Interests for Class A Shares within ten (10) days of such Stockholder’s receipt of the Piggyback Notice; provided, however, that any exchange pursuant to clause (x) above may be made contingent upon the sale of the Registrable Securities issued upon such exchange pursuant to such Piggyback Registration, it being understood that any such contingent exchange shall become effective immediately prior to such sale of Registrable Securities.

 

(b)                                 Each Stockholder wishing to sell Registrable Securities pursuant to a Piggyback Registration agrees to deliver a Notice and Questionnaire to the Company at least five (5) business days prior to any intended distribution of Registrable Securities pursuant to a Demand Registration, and the Company shall provide that the Stockholder delivering such Notice and Questionnaire is named as a selling security holder in the Piggyback Registration and the related prospectus in such a manner as to permit such Stockholder to deliver such prospectus to purchasers of the Registrable Securities in accordance with applicable law.  Notwithstanding anything contained herein to the contrary, the Company shall be under no obligation to name any Stockholder that is not a Notice Stockholder as a selling security holder in any registration statement under the Securities Act or related prospectus; provided, however, that any Stockholder that becomes a Notice Stockholder pursuant to the provisions of this Section 2.2(b) shall be named as a selling security holder in the Piggyback Registration in accordance with the requirements of this Section 2.2(b).

 

(c)                                  Priority on Piggyback Registrations.  If, in connection with a Piggyback Registration, any managing underwriter (or, if such Piggyback Registration is not an underwritten offering, a nationally recognized independent underwriter selected by the Company (reasonably acceptable to the holders of a majority of the Registrable Securities sought to be included in such Piggyback Registration and whose fees and expenses shall be borne solely by the Company)) advises the Company and the holders of the Registrable Securities sought to be included in such Piggyback Registration, that, in its opinion, the inclusion of all the securities sought to be included in such Piggyback Registration by the Company, any Persons who have sought to have shares registered thereunder pursuant to rights to demand (other than pursuant to

 

 

“piggyback” or other incidental or participation registration rights) such registration (such demand rights being “Other Demand Rights” and such Persons being “Other Demanding Sellers”), any holders of Registrable Securities seeking to sell such securities in such Piggyback Registration (“Piggyback Sellers”) and any other proposed sellers, in each case, if any, would adversely affect the marketability of the securities sought to be sold pursuant thereto, then the Company shall include in the registration statement applicable to such Piggyback Registration only such securities as the Company, the Other Demanding Sellers, and the Piggyback Sellers are so advised by such underwriter can be sold without such an effect (the “Maximum Piggyback Number”), as follows and in the following order of priority:

 

(i)                                     if the Piggyback Registration is an offering on behalf of the Company and not any Person exercising Other Demand Rights (whether or not other Persons seek to include securities therein pursuant to “piggyback” or other incidental or participatory registration rights) (a “Primary Offering”), then (A) first, such number of securities to be sold by the Company as the Company, in its reasonable judgment and acting in good faith, shall have determined, and (B) second, if the number of securities to be included under clause (A) above is less than the Maximum Piggyback Number, the number of Registrable Securities sought to be registered by each Piggyback Seller, pro rata in proportion to the number of Registrable Securities sought to be registered by all the Piggyback Sellers pro rata in proportion to the Registrable Securities sought to be registered by all the Piggyback Sellers and all other proposed sellers, which in the aggregate, when added to the number of securities to be registered under clause (A) above, equals the Maximum Piggyback Number; and

 

(ii)                                  if the Piggyback Registration is an offering other than pursuant to a Primary Offering, then (A) first, such number of securities sought to be registered by the Company, if applicable, and each Other Demanding Seller and any Stockholder that has requested rights pursuant to Section 2.2(a) above and become a Notice Stockholder pursuant to Section 2.2(b) above, pro rata in proportion to the number of securities sought to be registered by all such Other Demanding Sellers, Stockholders and (B) second, if the number of securities to be included under clause (A) above is less than the Maximum Piggyback Number, the number of Registrable Securities sought to be registered by each Piggyback Seller, pro rata in proportion to the number of Registrable Securities sought to be registered by all the Piggyback Sellers and all other proposed sellers, which in the aggregate, when added to the number of securities to be registered under clause (A) above, equals the Maximum Piggyback Number.

 

(d)                                 Withdrawal by the Company.  If, at any time after giving written notice of its intention to register any of its securities as set forth in this Section 2.2 and prior to the time the registration statement filed in connection with such registration is declared effective, the Company shall determine for any reason not to register such securities, the Company may, at its election, give written notice of such determination to each Stockholder and thereupon shall be relieved of its obligation to register any Registrable Securities in connection with such particular withdrawn or abandoned registration (but not from its obligation to pay the Registration Expenses (as hereinafter defined) in connection therewith as provided herein).  In the event that the Piggyback Sellers of such a registration hold $20 million of aggregate Fair Market Value of Registrable Securities as of such date then such holders may continue such registration as an

 

 

underwritten Demand Registration, and if the Piggyback Sellers of such a registration hold $10 million of aggregate Fair Market Value of Registrable Securities as of such date then such holders may continue such registration as a non-underwritten Demand Registration.  The continuation of such registration shall be counted as a Demand for all Stockholders who participate in such registration.

 

2.3                                 Withdrawal Rights.  Any Stockholder having notified or directed the Company to include any or all of its Registrable Securities in a registration statement under the Securities Act shall have the right to withdraw any such notice or direction with respect to any or all of the Registrable Securities designated for registration thereby by giving written notice to such effect to the Company at least five (5) business days prior to the effective date of such registration statement.  In the event of any such withdrawal, the Company shall not include such Registrable Securities in the applicable registration and such Registrable Securities shall continue to be Registrable Securities hereunder.  No such withdrawal shall affect the obligations of the Company with respect to the Registrable Securities not so withdrawn; provided that in the case of a Demand Registration, if such withdrawal shall reduce the number of Registrable Securities sought to be included in such registration below $20 million of aggregate Fair Market Value as of such date or, in the case or a non-underwritten Demand Registration, such withdrawal shall reduce the number of Registrable Securities sought to be included in such registration below $10 million of aggregate Fair Market Value as of such date, then the Company shall as promptly as practicable give each holder of Registrable Securities sought to be registered notice to such effect, referring to this Agreement and summarizing this Section 2.3, and within five (5) business days following the effectiveness of such notice, either the Company or the holders of a majority of the Registrable Securities sought to be registered may, by written notices made to each holder of Registrable Securities sought to be registered and the Company, respectively, elect that such registration statement not be filed or, if theretofore filed, be withdrawn.  During such five (5) business day period, the Company shall not file such registration statement if not theretofore filed or, if such registration statement has been theretofore filed, the Company shall not seek, and shall use its best efforts to prevent, the effectiveness thereof.  Any registration statement withdrawn or not filed (i) in accordance with an election by the Company, (ii) in accordance with an election by the holders of the majority of the Registrable Securities sought to be registered pursuant to such Demand Registration held by all the Demanding Holders pursuant to Section 2.1(e) hereof, (iii) in accordance with an election by the holders of the majority of the Registrable Securities sought to be registered pursuant to such Demand Registration held by all the Demanding Holders prior to the effectiveness of the applicable Demand Registration Statement or (iv) in accordance with an election by the holders of the majority of the Registrable Securities sought to be registered pursuant to such Demand Registration held by all the Demanding Holders subsequent to the effectiveness of the applicable Demand Registration Statement, if any post-effective amendment or supplement to the applicable Demand Registration Statement contains adverse information regarding the Company shall not be counted as a Demand.  Except as set forth in clause (iv) of the previous sentence, any Demand withdrawn in accordance with an election by the Demanding Holders subsequent to the effectiveness of the applicable Demand Registration Statement shall be counted as a Demand unless the Stockholders reimburse the Company for its reasonable out-of-pocket expenses (but not including any Internal Expenses, as hereinafter defined) related to the preparation and filing of such registration statement (in which event such registration statement shall not be counted as a Demand hereunder).  Upon the written request of a majority of the Stockholders, the Company

 

 

shall promptly prepare a definitive statement of such out-of-pocket expenses in connection with such registration statement in order to assist such holders with a determination in accordance with the immediately preceding sentence.

 

2.4                                 Mandatory Shelf Registration. The Company shall use its reasonable best efforts, at its sole expense, to file with the Commission prior to the expiration of the Lock Up Period, a shelf Registration Statement on Form S-1 or such other form under the Securities Act then available to the Company providing for (a) the exchange, from time to time, of all JGWPT Holdings Common Interests held by any Stockholder other than PGHI for Class A Shares and (b) the resale, pursuant to Rule 415 under the Securities Act from time to time, of (i) such Class A Shares received upon such exchange by such Stockholders and (ii) Class A Shares received by PGHI either upon conversion of Class C Shares or upon exercise of the warrants granted by the Company to PGHI pursuant to the two Warrant Agreements, each dated as of November 14, 2013  (the “Shelf Registration Statement”).  The Company will notify each such Stockholder, within five (5) business days after the date on which the Shelf Registration Statement is first filed with the Commission, of the filing. The Company will use its commercially reasonable efforts to cause such Shelf Registration Statement to be declared effective by the Commission as soon as reasonably practicable after such filing, subject to Section 2.6(d).  The Company further agrees to prepare and file with the Commission such amendments and supplements to such registration statement and the prospectus used in connection therewith as may be necessary to keep such registration statement effective, subject to Section 2.6(d), until all Registrable Securities included in such registration statement have been sold thereunder in accordance with the method of distribution set forth therein and comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement during such period in accordance with the intended methods of disposition or Rule 144 under the Securities Act (or any successor rule).  The filing of the Shelf Registration Statement will not affect the inclusion of any Registrable Securities in any other Registration Statement hereunder.

 

2.5                                 Holdback Agreements.  Except as may be agreed to by the underwriters with respect to any Stockholder, each Stockholder agrees not to effect any public sale or distribution (including, without limitation, sales pursuant to Rule 144 of the Securities Act) of equity securities of the Company, or any securities convertible into or exchangeable or exercisable for such securities, during the ten (10) day period prior to the date on which the Company intends, or in the case of a Demand Registration, the Demanding Holders intend, to commence a Public Offering (as set forth in the notice thereof provided by the Company or the Demanding Holders, as applicable) through the ninety (90) day period immediately following the effective date of any Demand Registration or any Piggyback Registration (in each case, except as part of such registration), or, in each case, if later, the date of any underwriting agreement with respect thereto; provided, however, that the Stockholders shall not be obligated to comply with this Section 2.5 on more than one (1) occasion in any nine (9) month period.

 

2.6                                 Registration Procedures.

 

(a)                                  Whenever the Stockholders have requested that any Registrable Securities be registered pursuant to this Agreement (whether pursuant to Demand Registration or Piggyback Registration), the Company (subject to its right to withdraw such registration as contemplated by Section 2.2(d) hereof) shall use its best efforts to effect the registration and the

 

 

sale of such Registrable Securities in accordance with the intended method of distribution thereof and, in connection therewith, the Company shall as expeditiously as possible, and, in any event, within sixty (60) days of receipt of such request:

 

(i)                                     prepare and file with the Commission a registration statement with respect to such Registrable Securities on any form for which the Company then qualifies and is available for the sale of Registrable Securities to be registered thereunder in accordance with the intended method of distribution and use its reasonable best efforts to cause such registration statement to become effective within one hundred twenty (120) days of the date thereof;

 

(ii)                                  prepare and file with the Commission such amendments and supplements to such registration statement and the prospectus used in connection therewith as may be necessary to keep such registration statement effective for a continuous period of not less than one hundred eighty (180) days (or, if earlier, until all Registrable Securities included in such registration statement have been sold thereunder in accordance with the method of distribution set forth therein) and comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement during such period in accordance with the intended methods of disposition by the sellers thereof as set forth in such registration statement (including, without limitation, by incorporating in a prospectus supplement or post-effective amendment, at the request of a seller of Registrable Securities, the terms of the sale of such Registrable Securities);

 

(iii)                               before filing with the Commission any such registration statement or prospectus or any amendments or supplements thereto, the Company shall furnish to counsel selected by the Demanding Holders of a majority of the Registrable Securities held by the Demanding Holders, counsel for the underwriter or sales or placement agent, if any, and any other counsel for holders of Registrable Securities, if any, in connection therewith, drafts of all such documents proposed to be filed and provide such counsel with a reasonable opportunity for review thereof and comment thereon, such review to be conducted and such comments to be delivered with reasonable promptness;

 

(iv)                              promptly (i) notify each seller of Registrable Securities of each of (x) the filing and effectiveness of the registration statement and prospectus and any amendment or supplements thereto, (y) the receipt of any comments from the Commission or any state securities law authorities or any other governmental authorities with respect to any such registration statement or prospectus or any amendments or supplements thereto, and (z) any oral or written stop order with respect to such registration, any suspension of the registration or qualification of the sale of such Registrable Securities in any jurisdiction or any initiation or threat of any proceedings with respect to any of the foregoing and (ii) use its reasonable best efforts to obtain the withdrawal of any order suspending the registration or qualification (or the effectiveness thereof) or suspending or preventing the use of any related prospectus in any jurisdiction with respect thereto;

 

 

(v)                                 furnish to each seller of Registrable Securities, the underwriters and the sales or placement agent, if any, and counsel for each of the foregoing, a conformed copy of such registration statement and each amendment and supplement thereto (in each case, including all exhibits thereto and documents incorporated by reference therein) and such additional number of copies of such registration statement, each amendment and supplement thereto (in such case without such exhibits and documents), the prospectus (including each preliminary prospectus) included in such registration statement and prospectus supplements and all exhibits thereto and documents incorporated by reference therein and such other documents as such seller, underwriter, agent or counsel may reasonably request in order to facilitate the disposition of the Registrable Securities owned by each such seller;

 

(vi)                              if requested by the managing underwriter or underwriters of any registration or by the Demanding Holders of a majority of the Registrable Securities held by the Demanding Holders, subject to approval of counsel to the Company in its reasonable judgment, promptly incorporate in a prospectus, supplement or post-effective amendment to the registration statement such information concerning underwriters and the plan of distribution of the Registrable Securities as such managing underwriter or underwriters or such holders shall reasonably furnish to the Company in writing and request be included therein, including, without limitation, with respect to the number of Registrable Securities being sold by such holders to such underwriter or underwriters, the purchase price being paid therefor by such underwriter or underwriters and with respect to any other terms of the underwritten offering of the Registrable Securities to be sold in such offering; and make all required filings of such prospectus, supplement or post-effective amendment as soon as possible after being notified of the matters to be incorporated in such prospectus, supplement or post-effective amendment;

 

(vii)                           use its best efforts to register or qualify such Registrable Securities under such securities or “blue sky” laws of such jurisdictions as the holders of a majority of Registrable Securities sought to be registered reasonably request and do any and all other acts and things which may be reasonably necessary or advisable to enable the holders of a majority of Registrable Securities sought to be registered to consummate the disposition in such jurisdictions of the Registrable Securities owned by such holders and keep such registration or qualification in effect for so long as the registration statement remains effective under the Securities Act (provided that the Company shall not be required to (x) qualify generally to do business in any jurisdiction where it would not otherwise be required to qualify but for this paragraph, (y) subject itself to taxation in any such jurisdiction where it would not otherwise be subject to taxation but for this paragraph or (z) consent to the general service of process in any jurisdiction where it would not otherwise be subject to general service of process but for this paragraph);

 

(viii)                        notify each seller of such Registrable Securities, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon the discovery that, or of the happening of any event as a result of which, the registration statement covering such Registrable Securities, as then in effect, contains an untrue statement of a material fact or omits to state any material fact required to be stated therein or any fact necessary to make the statements therein not misleading, and promptly

 

 

prepare and furnish to each such seller a supplement or amendment to the prospectus contained in such registration statement (and prepare and file and cause to become effective a post-effective amendment to such registration statement) so that such registration statement shall not, and such prospectus as thereafter delivered to the purchasers of such Registrable Securities shall not, contain an untrue statement of a material fact or omit to state any material fact required to be stated therein or any fact necessary to make the statements therein not misleading;

 

(ix)                                cause all such Registrable Securities to be listed on the New York Stock Exchange, Nasdaq Stock Market and/or any other national securities exchange and included in each established over-the-counter market on which or through which similar securities of the Company are listed or traded and, if not so listed or traded, to be listed on the NASD automated quotation system (“Nasdaq”) and, if listed on Nasdaq, use its reasonable efforts to secure designation of all such Registrable Securities covered by such registration statement as a”national market system security” within the meaning of Regulation NMS under the Exchange Act, or, failing that, to secure Nasdaq authorization for such Registrable Securities;

 

(x)                                   make available for inspection by any seller of Registrable Securities, any underwriter participating in any disposition pursuant to such registration statement, and any attorney, accountant or other agent retained by any such seller or underwriter all financial and other records, pertinent corporate documents and properties of the Company, and cause the Company’s officers, directors, employees, attorneys and independent accountants to supply all information reasonably requested by any such sellers, underwriters, attorneys, accountants or agents in connection with such registration statement.  Information which the Company determines, in good faith, to be confidential shall not be disclosed by such persons unless (x) the disclosure of such information is necessary to avoid or correct a misstatement or omission in such registration statement or as otherwise required to be disclosed pursuant to the Securities Act and the rules promulgated thereunder, or (y) the release of such information is ordered pursuant to a subpoena or other order from a court of competent jurisdiction.  Each seller of Registrable Securities agrees, on its own behalf and on behalf of all its underwriters, accountants, attorneys and agents, that the information obtained by it as a result of such inspections shall be deemed confidential and shall not be used by it as the basis for any market transactions in the securities of the Company unless and until such is made generally available to the public.  Each seller of Registrable Securities further agrees, on its own behalf and on behalf of all its underwriters, accountants, attorneys and agents, that it will, upon learning that disclosure of such information is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action to prevent disclosure of the information deemed confidential;

 

(xi)                                use its best efforts to comply with all applicable laws related to such registration statement and offering and sale of securities and all applicable rules and regulations of governmental authorities in connection therewith (including, without limitation, the Securities Act and the Exchange Act) and make generally available to its security holders as soon as practicable (but in any event not later than

 

 

fifteen (15) months after the effectiveness of such registration statement) an earnings statement of the Company and its subsidiaries complying with Section 11(a) of the Securities Act;

 

(xii)                             permit any Stockholder, which Stockholder, in its sole and exclusive judgment, might be deemed to be an underwriter or controlling person of the Company, to participate in the preparation of such registration statement and to require the insertion therein of material furnished to the Company in writing, which in the reasonable judgment of such holder and such holder’s counsel should be included;

 

(xiii)                          in the case of an underwritten offering, use reasonable best efforts to furnish to each seller of Registrable Securities and each underwriter of such offering a signed counterpart of (x) an opinion of counsel for the Company and (y) a comfort letter signed by the independent public accountants who have certified the Company’s financial statements included or incorporated by reference in such registration statement, covering such matters with respect to such registration statement and, in the case of the accountants’ comfort letter, with respect to events subsequent to the date of such financial statements, as are customarily covered in opinions of issuer’s counsel and in accountants’ comfort letters delivered to the underwriters in underwritten public offerings of securities for the account of, or on behalf of, an issuer of common stock, such opinion and comfort letters to be dated the date such opinions and comfort letters are customarily dated in such transactions, and covering in the case of such legal opinion, such other legal matters and, in the case of such comfort letter, such other financial matters, as are customarily covered by such legal opinions and comfort letters;

 

(xiv)                         not permit any officer, manager, underwriter, broker or any other person acting on behalf of the Company to use any free writing prospectus (as defined in Rule 405 under the Securities Act) in connection with any registration statement covering Registrable Securities, without the prior written consent of a majority of Stockholders of Registrable Securities covered in any such registration statement and any underwriter; and

 

(xv)                            use reasonable best efforts to have officers of the Company participate in “road shows” for any Demand Registration and analyst or investor presentations and such other selling or informational activities as are customary for transactions similar to the planned disposition of securities requested by the Demanding Holders or the managing underwriter for such offerings.

 

(xvi)                         take all such other actions as the holders of a majority of the Registrable Securities being sold or the underwriters, if any, reasonably request in order to expedite or facilitate the disposition of such Registrable Securities.

 

(b)                                 Underwriting.  Without limiting any of the foregoing, in the event that any offering of Registrable Securities is to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent with the agreements contained herein) by an issuer of common

 

 

stock in underwriting agreements with respect to underwritten public offerings of common stock for the account of, or on behalf of, such issuers.  In connection with the sale of Registrable Securities hereunder, any seller of such Registrable Securities may, at its option, require that any and all representations and warranties by, and indemnities and agreements of, the Company to or for the benefit of such underwriter or underwriters (or which would be made to or for the benefit of such an underwriter or underwriter if such sale of Registrable Securities were pursuant to a customary underwritten offering) be made to and for the benefit of such seller and that any or all of the conditions precedent to the obligations of such underwriter or underwriters (or which would be so for the benefit of such underwriter or underwriters under a customary underwriting agreement) be conditions precedent to the obligations of such seller in connection with the disposition of its securities pursuant to the terms hereof (it being agreed that in connection with any Demand Registration, without limiting any rights or remedies of the Stockholders, in the event any such condition precedent shall not be satisfied and, if not so satisfied, shall not be waived by the holders of a majority of the Registrable Securities to be included in such Demand Registration, such Demand Registration shall not be counted as a permitted Demand hereunder).  In connection with any offering of Registrable Securities registered pursuant to this Agreement, the Company shall (x) furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the Registrable Securities being sold, in such denominations as requested and (y) instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto.

 

(c)                                  Return of Prospectuses.  Each seller of Registrable Securities hereunder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in Section 2.6(a)(viii) hereof, such seller shall forthwith discontinue such seller’s disposition of Registrable Securities pursuant to the applicable registration statement and  prospectus relating thereto until such seller’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 2.6(a)(viii) hereof and, if so directed by the Company, deliver to the Company all copies, other than permanent file copies, then in such seller’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities.  In the event the Company shall give such notice, the one hundred eighty (180)-day period during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in Section 2.6(a)(viii) hereof to the date when all such sellers shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commission.

 

(d) Suspensions. Notwithstanding anything to the contrary contained in this Agreement, the Company shall be entitled, from time to time, by providing written notice to the Stockholders, to require such Stockholders to suspend the use of the prospectus for sales of Registrable Securities under any registration statement for a reasonable period of time not to exceed 90 days in succession or 180 days in the aggregate in any 12-month period (a “Suspension Period”) if the Company shall determine that it is required to disclose in any such registration statement a financing, acquisition, corporate reorganization or other similar transaction or other material event or circumstance affecting the Company or its securities, and that the disclosure of such information at such time would be detrimental to the Company or the holders of its equity securities.  Immediately upon receipt of such notice, the Stockholders shall suspend the use of the prospectus until the requisite changes to the prospectus have been made as

 

 

required below.  Any Suspension Period shall terminate at such time as the public disclosure of such information is made.  After the expiration of any Suspension Period and without any further request from a Stockholder, the Company shall as promptly as reasonably practicable prepare a post-effective amendment or supplement to the applicable registration statement or the prospectus, or any document incorporated therein by reference, or file any other required document so that, as thereafter delivered to purchasers of the Registrable Securities included therein, the prospectus will not include an untrue statement of a material fact or omit to state any material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading.

 

2.7                                 Registration Expenses.  All expenses incident to the Company’s performance of, or compliance with, its obligations under this Agreement, including, without limitation, all registration and filing fees, all fees and expenses of compliance with securities and “blue sky” laws (including, without limitation, the fees and expenses of counsel for underwriters or placement or sales agents, if any, in connection therewith), all printing and copying expenses, all messenger and delivery expenses, all fees and expenses of underwriters and sales and placement agents, if any, in connection therewith (excluding discounts and commissions), all fees and expenses of the Company’s independent certified public accountants and counsel (including, without limitation, with respect to comfort letters and opinions) (collectively, the “Registration Expenses”) shall be borne by the Company.  The Company shall be responsible for the fees and expenses of one (1) firm of attorneys retained by all of the Stockholders in the aggregate in connection with the sale of Registrable Securities.  Notwithstanding the foregoing, the Company shall not be responsible for the fees and expenses of any additional counsel, or any of the accountants, agents or experts retained by the Stockholders in connection with the sale of Registrable Securities.  The Company will pay its internal expenses (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 expense of any liability insurance) (collectively, “Internal Expenses”) and, except as otherwise provided in this Section 2.7, the expenses and fees for listing the securities to be registered on each securities exchange and included in each established over-the-counter market on which similar securities issued by the Company are then listed or traded or for listing on Nasdaq.

 

2.8                                 Indemnification.

 

(a)                                  By the Company.  The Company agrees to indemnify, to the fullest extent permitted by law, each holder of Registrable Securities being sold, its officers, directors, managers, partners, stockholders, members, employees and agents and each Person who controls (within the meaning of the Securities Act) such holder or such an other indemnified Person against all losses, claims, damages, liabilities and expenses (collectively, the “Losses”) caused by, resulting from or relating to any untrue or alleged untrue statement of material fact contained in any registration statement, prospectus or preliminary prospectus or any amendment thereof or supplement thereto or any omission or alleged omission of a material fact required to be stated therein or a fact necessary to make the statements therein not misleading, except insofar as the same are caused by or contained in any information furnished to the Company in writing by or on behalf of such holder expressly for use therein or by such holder’s failure to deliver a copy of the registration statement or prospectus or any amendments or supplements thereto after the Company has furnished such holder with a sufficient number of copies of the same as required

 

 

by Article II hereof.  In connection with an underwritten offering and without limiting any of the Company’s other obligations under this Agreement, the Company shall indemnify such underwriters, their officers, directors, employees and agents and each Person who controls (within the meaning of the Securities Act) such underwriters or such other indemnified Person to the same extent as provided above with respect to the indemnification of the holders of Registrable Securities being sold.

 

(b)                                 By Stockholders.  In connection with any registration statement in which a holder of Registrable Securities is participating, each such holder will furnish, or cause to be furnished, to the Company in writing information regarding such holder’s ownership of Registrable Securities and its intended method of distribution thereof and, to the extent permitted by law, shall indemnify the Company, its directors, officers, employees and agents and each Person who controls (within the meaning of the Securities Act) the Company or such other indemnified Person against all Losses caused by, resulting from or relating to any untrue or alleged untrue statement of material fact contained in the registration statement, prospectus or preliminary prospectus or any amendment thereof or supplement thereto or any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein not misleading, but only to the extent that such untrue statement or omission is caused by and contained in such information so furnished in writing by or on behalf of such holder and such information was actually used by the Company in a final prospectus or a post-effective amendment; provided, however, that each holder’s obligation to indemnify the Company hereunder shall be apportioned between each holder based upon the net amount received by each holder from the sale of Registrable Securities, as compared to the total net amount received by all of the holders of Registrable Securities sold pursuant to such registration statement, no such holder being liable to the Company in excess of such apportionment.

 

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

 

(d)                                 Defense of Actions.  In any case in which any such action is brought against any indemnified party, and it notifies an indemnifying party of the commencement thereof, the indemnifying party will be entitled to participate therein, and, to the extent that it may wish, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with counsel reasonably satisfactory to such indemnified party, and after notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof the indemnifying party will not (so long as it shall continue to have the right to defend, contest, litigate and settle the matter in question in accordance with this paragraph) be liable to such indemnified party hereunder for any legal or other expense subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation, supervision and monitoring (unless such indemnified party reasonably objects to such assumption on the grounds that there may be defenses available to it which are different from or in addition to the defenses available to such indemnifying party, in which event the indemnified party shall be reimbursed by the indemnifying party for the expenses incurred in connection with retaining separate legal counsel).  An indemnifying party shall not be liable for

 

 

any settlement of an action or claim effected without its consent.  The indemnifying party shall lose its right to defend, contest, litigate and settle a matter if it shall fail diligently to contest such matter (except to the extent settled in accordance with the next following sentence).  No matter shall be settled by an indemnifying party without the consent of the indemnified party (which consent shall not be unreasonably withheld).

 

(e)                                  Survival.  The indemnification obligations of the Company and the Stockholders selling Registrable Securities under this Section 2.8 shall survive until the first anniversary of the expiration of all applicable statutes of limitation or extensions of such statutes.  The indemnification provided for under this Agreement shall remain in full force and effect regardless of any investigation made by or on behalf of the indemnified Person and will survive the transfer of the Registrable Securities and the termination of this Agreement.

 

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

 

ARTICLE III
  MISCELLANEOUS

 

3.1                                 Term.  The rights of Stockholders with respect to the registration rights granted pursuant to this Agreement shall remain in effect, subject to the terms hereof, so long as there are Registrable Securities or securities which are convertible or exchangeable for Registrable Securities issued and outstanding.

 

3.2                                 Specific Performance.  Each of the Stockholders acknowledges and agrees that, in the event of any breach of this Agreement, the non-breaching party or parties would be irreparably harmed and could not be made whole by monetary damages.  The Stockholders hereby agree that, in addition to any other remedy to which any party may be entitled at law or in equity, they shall be entitled to compel specific performance of this Agreement in any action instituted in any court of the United States or any state thereof having subject matter jurisdiction for such action.

 

3.3                                 Headings.  Captions contained in this Agreement are inserted only as a matter of convenience and in no way define, limit or extend the scope or intent of this Agreement

 

 

or any provision hereof.

 

3.4                                 Entire Agreement.  This Agreement and the Limited Liability Company Agreement constitute the entire agreement among the parties with respect to the subject matter hereof and thereof.  They supersede any prior agreement or understanding among the parties, and they may not be modified or amended in any manner other than by an instrument in writing signed by the parties hereto or thereto, or their respective successors or assigns, or otherwise as provided herein or therein.

 

3.5                                 Confidentiality.  Except as required by law, no party shall disclose any term of this Agreement or any related agreement, including the Limited Liability Company Agreement, to any third party without the prior written consent of the other parties.  Notwithstanding the foregoing, the parties may share such information with their respective investors, provided such investors agree to keep such information confidential.

 

3.6                                 Expenses.  Except as set forth in Section 2.6 hereof, each party agrees that such party shall bear its own expenses incurred in connection with this Agreement.

 

3.7                                 Notices.  All notices, requests, claims, demands and other communications hereunder shall be in writing and shall be deemed to have been duly given on the date of delivery, if personally delivered, or if mailed (registered or certified mail, postage prepaid, return receipt requested), on the third (3rd) business day following mailing as follows:

 

If to the Company, to:

 

JGWPT Holdings Inc.

201 King of Prussia Road, Suite 501

Radnor, PA 19087-5148

Attn: Stephen Kirkwood, Esq.

Telephone: (484) 434-2350

Fax: (855) 285-5089

 

with copies to:

 

Skadden, Arps, Slate, Meagher & Flom LLP

920 N. King Street

Wilmington, Delaware 19801

Attn:                         Steven J. Daniels, Esq.

Telephone: (302) 651-3240

Fax: (302) 552-3240

 

and

 

Reed Smith LLP

1650 Market Street, Suite 2500

Philadelphia, Pennsylvania  19103

Attn:  Lori L. Lasher, Esq.

Telephone: (215) 851-8136

 

 

Fax:  (215) 851-1420

 

If to the Stockholders, to the addresses of the Stockholders as set forth in the books and records of the Company.

 

3.8                                 Applicable Law.  This Agreement shall be governed by and interpreted and enforced in accordance with the substantive laws of the State of Delaware, without giving effect to the conflicts of law principles thereof.

 

3.9                                 Jurisdiction; Service of Process.  Each of the parties hereto (a) consents to submit itself to the personal jurisdiction of the Court of Chancery of the State of Delaware or, if the Court of Chancery lacks subject matter jurisdiction, any other Delaware state court or any federal court located in the State of Delaware in the event any dispute arises out of this Agreement or any transaction or other agreement contemplated hereby, (b) agrees that it will not attempt to deny or defeat such personal jurisdiction by motion or other request for leave from any such court, (c) agrees that it will not bring any action relating to this Agreement or any transaction or other agreement contemplated hereby in any court other than the Court of Chancery of the State of Delaware, or if the Court of Chancery lacks subject matter jurisdiction, any other Delaware state court or any federal court sitting in the state of Delaware and (d) waives any right to trial by jury with respect to any action related to or arising out of this Agreement or any transaction or other agreement contemplated hereby.

 

3.10                           Severability.  The invalidity, illegality, or unenforceability of one or more of the provisions of this Agreement in any jurisdiction shall not affect the validity, legality, or enforceability of the remainder of this Agreement in such jurisdiction or the validity, legality, or enforceability of this Agreement, including any such provision, in any other jurisdiction, it being intended that all rights and obligations of the parties hereunder shall be enforceable to the fullest extent permitted by law.

 

3.11                           Successors; Assigns; and Third-Party Beneficiaries.  The provisions of this Agreement shall be binding upon the parties hereto and their respective heirs, successors, and permitted assigns.  Any of the Stockholders’ “Permitted Transferees” under the terms of the Limited Liability Company Agreement and any transferee or assignee of the JLL Holders will be permitted to enter into this Agreement by means of a joinder agreement and to benefit from the registration rights applicable to Registrable Securities held by such transferring Stockholder.  Except as expressly provided herein, neither this Agreement nor the rights or obligations of any Stockholder hereunder may be assigned.  Any such attempted assignment in contravention of this Agreement shall be void and of no effect.

 

3.12                           Amendments.  This Agreement may not be amended, modified, or supplemented unless such modification is in writing and signed by the parties hereto.  Notwithstanding the foregoing, each party agrees that if any Person who holds Class A Shares (or securities that are exchangeable or convertible into Class A Shares) other than a Stockholder, enters into an agreement with the JLL Holders, the Company or any of their respective Affiliates on terms that are more favorable to such holder than those contained in this Agreement with respect to the Stockholders, then this Agreement shall be immediately amended to incorporate such favorable terms in favor of the Stockholders.

 

 

3.13                           Waiver.  Any waiver (express or implied) of any default or breach of this Agreement shall not constitute a waiver of any other or subsequent default or breach.

 

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

 

[SIGNATURE PAGE FOLLOWS]

 

 

IN WITNESS WHEREOF, the undersigned hereby agree to be bound by the terms and provisions of this Registration Rights Agreement as of the date first above written.

 

 

	
 
    	
JGWPT   HOLDINGS INC.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Randi K. Sellari
    
	
 
    	
 
    	
Name:
    	
Randi K. Sellari
    
	
 
    	
 
    	
Title:
    	
President
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
JLL JGW   DISTRIBUTION, LLC
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Paul S. Levy
    
	
 
    	
 
    	
Name:
    	
Paul S.   Levy
    
	
 
    	
 
    	
Title:
    	
Authorized   Person
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
JGW   HOLDCO, LLC
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   David Miller
    
	
 
    	
 
    	
Name:
    	
David   Miller
    
	
 
    	
 
    	
Title:
    	
Chief   Executive Officer
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
PGHI   CORP.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   James D. Terlizzi
    
	
 
    	
 
    	
Name:
    	
James   D. Terlizzi
    
	
 
    	
 
    	
Title:
    	
Chief   Executive Officer
    

 

 

	
 
    	
HOLDER
    
	
 
    	
 
    
	
 
    	
CANDLEWOOD   SPECIAL SITUATIONS FUND L.P.
    
	
 
    	
By:
    	
Candlewood   Investment Group as investment manager
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Michael Lau
    
	
 
    	
 
    	
Name:
    	
Michael   Lau
    
	
 
    	
 
    	
Title:
    	
Authorized   Signatory
    

 

[Signature Page to Registration Rights Agreement]

 

 

	
 
    	
R3   CAPITAL PARTNERS MASTER, L.P.
    
	
 
    	
By:
    	
BlackRock   Investment Management, LLC, its
    
	
 
    	
Investment   Manager
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ C.   Adrian Marshall
    
	
 
    	
 
    	
Name:
    	
C.   Adrian Marshall
    
	
 
    	
 
    	
Title:
    	
Authorized   Signatory
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
ARK   SUBSIDIARY, LLC
    
	
 
    	
By:
    	
BlackRock   Advisers, LLC, as Manager
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ C.   Adrian Marshall
    
	
 
    	
 
    	
Name:
    	
C.   Adrian Marshall
    
	
 
    	
 
    	
Title:
    	
Authorized   Signatory
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
BGT   SUBSIDIARY, LLC
    
	
 
    	
By:
    	
BlackRock   Advisers, LLC, as Manager
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ C.   Adrian Marshall
    
	
 
    	
 
    	
Name:
    	
C.   Adrian Marshall
    
	
 
    	
 
    	
Title:
    	
Authorized   Signatory
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
BLW   SUBSIDIARY, LLC
    
	
 
    	
By:
    	
BlackRock   Advisers, LLC, as Manager
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ C.   Adrian Marshall
    
	
 
    	
 
    	
Name:
    	
C.   Adrian Marshall
    
	
 
    	
 
    	
Title:
    	
Authorized Signatory
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
DSU   SUBSIDIARY, LLC
    
	
 
    	
By:
    	
BlackRock   Advisers, LLC, as Manager
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ C.   Adrian Marshall
    
	
 
    	
 
    	
Name:
    	
C.   Adrian Marshall
    
	
 
    	
 
    	
Title:
    	
Authorized   Signatory
    

 

[Signature Page to Registration Rights Agreement]

 

 

	
 
    	
FRA   SUBSIDIARY, LLC
    
	
 
    	
By:
    	
BlackRock   Advisers, LLC, as Manager
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ C.   Adrian Marshall
    
	
 
    	
 
    	
Name:
    	
C.   Adrian Marshall
    
	
 
    	
 
    	
Title:
    	
Authorized   Signatory
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
BR-FRI   SUBSIDIARY, LLC
    
	
 
    	
By:
    	
BlackRock   Advisers, LLC, as Manager
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ C.   Adrian Marshall
    
	
 
    	
 
    	
Name:
    	
C.   Adrian Marshall
    
	
 
    	
 
    	
Title:
    	
Authorized   Signatory
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
JGW   RESTRUCTURING HOLDINGS (LONG 3), LLC
    
	
 
    	
By:
    	
Longhorn   CDO III, LTD, its sole member
    
	
 
    	
By:
    	
BlackRock   Financial Management, Inc., its Collateral
    
	
 
    	
Manager
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ C.   Adrian Marshall
    
	
 
    	
 
    	
Name:
    	
C.   Adrian Marshall
    
	
 
    	
 
    	
Title:
    	
Authorized   Signatory
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
JGW   RESTRUCTURING HOLDINGS (BSIS V), LLC
    
	
 
    	
By:
    	
BlackRock   Senior Income Series V Limited, its sole
    
	
 
    	
member
    
	
 
    	
By:
    	
BlackRock   Financial Management, Inc., its Collateral
    
	
 
    	
Manager
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ C.   Adrian Marshall
    
	
 
    	
 
    	
Name:
    	
C.   Adrian Marshall
    
	
 
    	
 
    	
Title:
    	
Authorized   Signatory
    

 

[Signature Page to Registration Rights Agreement]

 

 

	
 
    	
JGW   RESTRUCTURING HOLDINGS (BSIS IV), LLC
    
	
 
    	
By:
    	
BlackRock   Senior Income Series IV, its sole member
    
	
 
    	
By:
    	
BlackRock   Financial Management, Inc., its Collateral
    
	
 
    	
Manager
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ C.   Adrian Marshall
    
	
 
    	
 
    	
Name:
    	
C.   Adrian Marshall
    
	
 
    	
 
    	
Title:
    	
Authorized   Signatory
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
JGW   RESTRUCTURING HOLDINGS (BSIS), LLC
    
	
 
    	
By:
    	
BlackRock   Senior Income Series, its sole member
    
	
 
    	
By:
    	
BlackRock   Financial Management, Inc., its Collateral
    
	
 
    	
Manager
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ C.   Adrian Marshall
    
	
 
    	
 
    	
Name:
    	
C.   Adrian Marshall
    
	
 
    	
 
    	
Title:
    	
Authorized   Signatory
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
JGW   RESTRUCTURING HOLDINGS (MAG V), LLC
    
	
 
    	
By:
    	
Magnetite   V CLO, Limited, its sole member
    
	
 
    	
By:
    	
BlackRock   Financial Management, Inc., its Collateral
    
	
 
    	
Manager
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ C.   Adrian Marshall
    
	
 
    	
 
    	
Name:
    	
C.   Adrian Marshall
    
	
 
    	
 
    	
Title:
    	
Authorized   Signatory
    

 

[Signature Page to Registration Rights Agreement]

 

 

	
 
    	
CANDLEWOOD   CREDIT VALUE FUND II, L.P.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Howard Sullivan
    
	
 
    	
 
    	
Name:
    	
Howard   Sullivan
    
	
 
    	
 
    	
Title:
    	
Authorized   Signatory
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
CCVF   JGW LLC
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Howard Sullivan
    
	
 
    	
 
    	
Name:
    	
Howard   Sullivan
    
	
 
    	
 
    	
Title:
    	
Authorized   Signatory
    

 

[Signature Page to Registration Rights Agreement]

 

 

	
 
    	
ORIX   CORPORATE CAPITAL INC.
    
	
 
    	
(f/k/a   ORIX Finance Corp.)
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Christopher L. Smith
    
	
 
    	
 
    	
Name:
    	
Christopher   L. Smith
    
	
 
    	
 
    	
Title:
    	
Authorized   Signatory
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
THE   ROYAL BANK OF SCOTLAND PLC
    
	
 
    	
By:
    	
RBS   Securities Inc., its agent
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Jon   Weiss
    
	
 
    	
 
    	
Name:
    	
Jon   Weiss
    
	
 
    	
 
    	
Title:
    	
Managing   Director
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
DLJ   MERCHANT BANKING FUNDING, INC.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Kenneth J. Lohsen
    
	
 
    	
 
    	
Name:
    	
Kenneth J. Lohsen
    
	
 
    	
 
    	
Title:
    	
Authorized   Officer
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
WHITEHORSE   V, LTD.
    
	
 
    	
By:
    	
WhiteHorse   Capital Partners, L.P., as collateral manager
    
	
 
    	
By:
    	
WhiteRock   Asset Advisor, LLC, its G.P.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Jay   Carvell
    
	
 
    	
 
    	
Name:
    	
Jay   Carvell
    
	
 
    	
 
    	
Title:
    	
CFA
    

 

[Signature Page to Registration Rights Agreement]

 

 

	
 
    	
CALIFORNIA   PUBLIC EMPLOYEES’
    
	
 
    	
RETIREMENT   SYSTEM
    
	
 
    	
By:
    	
Nomura   Corporate Research & Asset Management, as
    
	
 
    	
Investment   Advisor
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Stephen Kotsen
    
	
 
    	
 
    	
Name:
    	
Stephen   Kotsen
    
	
 
    	
 
    	
Title:
    	
Managing   Director
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
THE   REGENTS OF THE UNIVERSITY OF CALIFORNIA
    
	
 
    	
By:
    	
Nomura   Corporate Research & Asset Management, as 
    
	
 
    	
Investment   Advisor
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Stephen Kotsen
    
	
 
    	
 
    	
Name:
    	
Stephen   Kotsen
    
	
 
    	
 
    	
Title:
    	
Managing   Director
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
STICHTING   PENSIONENFONDS HOOGOVENS
    
	
 
    	
By:
    	
Nomura   Corporate Research & Asset Management, as 
    
	
 
    	
Investment   Advisor
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Stephen Kotsen
    
	
 
    	
 
    	
Name:
    	
Stephen   Kotsen
    
	
 
    	
 
    	
Title:
    	
Managing   Director
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
NOMURA   US ATTRACTIVE YIELD CORPORATE BOND FUND MOTHER FUND
    
	
 
    	
By:
    	
Nomura   Corporate Research & Asset Management, as 
    
	
 
    	
Investment   Advisor
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Stephen Kotsen
    
	
 
    	
 
    	
Name:
    	
Stephen   Kotsen
    
	
 
    	
 
    	
Title:
    	
Managing   Director
    

 

[Signature Page to Registration Rights Agreement]

 

 

	
 
    	
OCEAN   TRAILS II TAX SUBSIDIARY
    
	
 
    	
By:
    	
West   Gate Horizons Advisors LLC, its Investment Advisor
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Michael Hatley
    
	
 
    	
 
    	
Name:
    	
Michael   Hatley
    
	
 
    	
 
    	
Title:
    	
President
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
OCEAN   TRAILS CLO III TAX SUBSIDIARY I
    
	
 
    	
By:
    	
West   Gate Horizons Advisors LLC, its Collateral Manager
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Michael Hatley
    
	
 
    	
 
    	
Name:
    	
Michael   Hatley
    
	
 
    	
 
    	
Title:
    	
President
    

 

[Signature Page to Registration Rights Agreement]

 

 

	
 
    	
VENTURE   IX CDO LIMITED
    
	
 
    	
By:
    	
Its   investment advisor, MJX Asset Management LLC
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Hans L. Christensen
    
	
 
    	
 
    	
Name:
    	
Hans L.   Christensen
    
	
 
    	
 
    	
Title:
    	
Chief   Executive Officer
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
VENTURE   VIII CDO LIMITED
    
	
 
    	
By:
    	
Its   investment advisor, MJX Asset Management LLC
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Hans L. Christensen
    
	
 
    	
 
    	
Name:
    	
Hans L.   Christensen
    
	
 
    	
 
    	
Title:
    	
Chief   Executive Officer
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
OWS I   BLOCKER 1 CORP.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Jason King & Jenifer Laurie
    
	
 
    	
Name:
    	
Jason   King & Jenifer Laurie
    
	
 
    	
Title:
    	
Assistant   Vice President & Authorized Signatory
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
OWS II   BLOCKER 1 CORP
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Jason King & Jenifer Laurie
    
	
 
    	
Name:
    	
Jason   King & Jenifer Laurie
    
	
 
    	
Title:
    	
Assistant   Vice President & Authorized Signatory
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
CARLYLE   J.G. WENTWORTH BLOCKER LLC
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Linda Pace
    
	
 
    	
 
    	
Name:
    	
Linda   Pace
    
	
 
    	
 
    	
Title:
    	
Managing   Director
    
					

 

[Signature Page to Registration Rights Agreement]

 

 

	
 
    	
RESERVOIR   MASTER FUND, L.P.
    
	
 
    	
By:
    	
RMF GP, LLC, its   general partner
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Celia Felsher
    
	
 
    	
Name:
    	
Celia   Felsher
    
	
 
    	
Title:
    	
General   Counsel & Chief Operating Officer
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
GMAM   GROUP PENSION TRUST II
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Aaron   J. Poulin
    
	
 
    	
Name:
    	
Aaron   J. Poulin
    
	
 
    	
Title:
    	
Vice   President
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
JEFFERIES   LEVERAGED CREDIT PRODUCTS LLC
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   William McLoughlin
    
	
 
    	
Name:
    	
William   McLoughlin
    
	
 
    	
Title:
    	
Senior   Vice President
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
JEFFERIES   LLC
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   William McLoughlin
    
	
 
    	
Name:
    	
William   McLoughlin
    
	
 
    	
Title:
    	
Senior   Vice President
    

 

[Signature Page to Registration Rights Agreement]

 

 

	
 
    	
LATITUDE   CLO I, LTD.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Kirk Wallace
    
	
 
    	
Name:   Kirk Wallace
    
	
 
    	
Title:   Senior Vice President
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
LATITUDE   CLO II, LTD.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Kirk Wallace
    
	
 
    	
Name:   Kirk Wallace
    
	
 
    	
Title:   Senior Vice President
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
LATITUDE   CLO III, LTD.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Kirk Wallace
    
	
 
    	
Name:   Kirk Wallace
    
	
 
    	
Title:   Senior Vice President
    

 

[Signature Page to Registration Rights Agreement]

 

 

	
 
    	
/s/ David Miller
    
	
 
    	
David Miller
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Randi Sellari
    
	
 
    	
Randi Sellari
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Stefano Sola
    
	
 
    	
Stefano Sola
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Alfred J. DeLeo
    
	
 
    	
Alfred J. DeLeo
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Eugene I. Davis
    
	
 
    	
Eugene   I. Davis
    

 

[Signature Page to Registration Rights Agreement]

 

 

	
 
    	
/s/   Dallas Aaron
    
	
 
    	
Dallas   Aaron
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Michael Aloupis
    
	
 
    	
Michael   Aloupis
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Eyal Ardity
    
	
 
    	
Eyal   Ardity
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Loredana Astillero
    
	
 
    	
Loredana   Astillero
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Paul Benk
    
	
 
    	
Paul   Benk
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Steven M. Berkeley
    
	
 
    	
Steven M. Berkeley
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Ann Kirk
    
	
 
    	
Ann Kirk
    

 

[Signature Page to Registration Rights Agreement]

 

 

	
 
    	
/s/   Michael Bezak
    
	
 
    	
Michael   Bezak
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Lori Borowski
    
	
 
    	
Lori   Borowski
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Victor F. Burgess
    
	
 
    	
Victor   F. Burgess
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Joseph Butch
    
	
 
    	
Joseph   Butch
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Alberto M. Cairo
    
	
 
    	
Alberto M. Cairo
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Lauren Capriotti
    
	
 
    	
Lauren Capriotti
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Joe Colangelo
    
	
 
    	
Joe Colangelo
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Richard M. Connelly
    
	
 
    	
Richard   M. Connelly
    

 

[Signature Page to Registration Rights Agreement]

 

 

	
 
    	
/s/   Dwayne C. Coubarous
    
	
 
    	
Dwayne   C. Coubarous
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   John Crilley
    
	
 
    	
John   Crilley
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Vincent Cruz
    
	
 
    	
Vincent   Cruz
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Jessica Daugherty
    
	
 
    	
Jessica   Daugherty
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Carol DeLucia
    
	
 
    	
Carol DeLucia
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Dante Desantis
    
	
 
    	
Dante Desantis
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Kaylen Dixon
    
	
 
    	
Kaylen Dixon
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Philip Donahue
    
	
 
    	
Philip Donahue
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Karl Fischer
    
	
 
    	
Karl   Fischer
    

 

[Signature Page to Registration Rights Agreement]

 

 

	
 
    	
/s/   Christopher S. Fisher
    
	
 
    	
Christopher   S. Fisher
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Marc Franzen
    
	
 
    	
Marc Franzen
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Jennifer Gambol
    
	
 
    	
Jennifer Gambol
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Roger Gasper
    
	
 
    	
Roger Gasper
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Bara A. Goldberg
    
	
 
    	
Bara A. Goldberg
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Samuel I. Gottesman
    
	
 
    	
Samuel I. Gottesman
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Lindsay Grass
    
	
 
    	
Lindsay   Grass
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   James Grugan
    
	
 
    	
James   Grugan
    

 

[Signature Page to Registration Rights Agreement]

 

 

	
 
    	
/s/   Mark Hall
    
	
 
    	
Mark   Hall
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Steven   Harris
    
	
 
    	
Steven   Harris
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Mark Haslam
    
	
 
    	
Mark   Haslam
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Daniel Hayes
    
	
 
    	
Daniel   Hayes
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Thomas M. Hemler
    
	
 
    	
Thomas   M. Hemler
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Kyle Hennessey
    
	
 
    	
Kyle   Hennessey
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Douglas M. Hoffman
    
	
 
    	
Douglas   M. Hoffman
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Ronald Houser
    
	
 
    	
Ronald   Houser
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Amy   L. Kaufman
    
	
 
    	
Amy L.   Kaufman
    

 

[Signature Page to Registration Rights Agreement]

 

 

	
 
    	
/s/   Michael Kelly
    
	
 
    	
Michael   Kelly
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Stephen A. Kirkwood
    
	
 
    	
Stephen A. Kirkwood
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Martin Kushner
    
	
 
    	
Martin Kushner
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Joshua Kyler
    
	
 
    	
Joshua   Kyler
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Brian N. Lawlor
    
	
 
    	
Brian   N. Lawlor
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Howard Lee
    
	
 
    	
Howard   Lee
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Shawn Leonetti
    
	
 
    	
Shawn   Leonetti
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Debra Maher
    
	
 
    	
Debra   Maher
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Andrew May
    
	
 
    	
Andrew   May
    

 

[Signature Page to Registration Rights Agreement]

 

 

	
 
    	
/s/   Keith G. Mayer
    
	
 
    	
Keith   G. Mayer
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Michael Mayer
    
	
 
    	
Michael   Mayer
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Adam McAllister
    
	
 
    	
Adam   McAllister
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Joseph McEntee
    
	
 
    	
Joseph   McEntee
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Jacqueline McLeod-Cephas
    
	
 
    	
Jacqueline   McLeod-Cephas
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Susan Messner
    
	
 
    	
Susan   Messner
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Sharon Miller
    
	
 
    	
Sharon   Miller
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Alistair Murphy
    
	
 
    	
Alistair   Murphy
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Michael Novak
    
	
 
    	
Michael   Novak
    

 

[Signature Page to Registration Rights Agreement]

 

 

	
 
    	
/s/   John F. O’Donovan
    
	
 
    	
John F.   O’Donovan
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Sean O’Reilly
    
	
 
    	
Sean   O’Reilly
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Roy   R. Parker
    
	
 
    	
Roy R.   Parker
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Ankur Patel
    
	
 
    	
Ankur   Patel
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Michael Pavelic
    
	
 
    	
Michael   Pavelic
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Aaron Pendergast
    
	
 
    	
Aaron   Pendergast
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Dwight Perry
    
	
 
    	
Dwight   Perry
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Lori Pick
    
	
 
    	
Lori   Pick
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Spencer Raynor-Smith
    
	
 
    	
Spencer   Raynor-Smith
    

 

[Signature Page to Registration Rights Agreement]

 

 

	
 
    	
/s/   Robert T. Rigal
    
	
 
    	
Robert   T. Rigal
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   David Robinson
    
	
 
    	
David   Robinson
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Michael Rodden
    
	
 
    	
Michael   Rodden
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Sarah Rowland
    
	
 
    	
Sarah   Rowland
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Ana   Sofia Santo
    
	
 
    	
Ana   Sofia Santo
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Clifton R. Satchell
    
	
 
    	
Clifton   R. Satchell
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ John Schwab
    
	
 
    	
John Schwab
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ George Schwartz
    
	
 
    	
George Schwartz
    

 

[Signature Page to Registration Rights Agreement]

 

 

	
 
    	
/s/ Michael C. Schwartz
    
	
 
    	
Michael C. Schwartz
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Alice Thompson
    
	
 
    	
Alice   Thompson
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Chenille Truitt
    
	
 
    	
Chenille   Truitt
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Rodney C. Turner
    
	
 
    	
Rodney   C. Turner
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Mathew A. Urbanovich
    
	
 
    	
Mathew A. Urbanovich
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Inna Vilenska
    
	
 
    	
Inna Vilenska
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Elizabeth Wallace
    
	
 
    	
Elizabeth   Wallace
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Nicole Wesley
    
	
 
    	
Nicole   Wesley
    

 

[Signature Page to Registration Rights Agreement]

 

 

	
 
    	
/s/   Daniel P. Whitman
    
	
 
    	
Daniel   P. Whitman
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Edward Yi
    
	
 
    	
Edward   Yi
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Derek Yoder
    
	
 
    	
Derek   Yoder
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Eric Youngblood
    
	
 
    	
Eric   Youngblood
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   Betsy Zepeda
    
	
 
    	
Betsy   Zepeda
    

 

[Signature Page to Registration Rights Agreement]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00224-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00224-of-00352.parquet"}]]