Document:

Amendment to Employment Agreement, Realogy Corporation and Bruce G. Zipf

 Exhibit 10.3 
 Amendment to Employment Agreement 
 Dated April 29, 2011 between Realogy
Corporation (the “Company”) 
 and Bruce G. Zipf (the “Executive”). 

WHEREAS, the Company and the Executive are parties to that certain Employment Agreement, dated as of April 10, 2007, executed in
connection with the Transaction whereby the Company became a subsidiary of Domus Holding Corp.; 
 WHEREAS, the Company and
Executive desire to extend that Employment Agreement with certain changes in compensation and certain confirmations concerning the expectations of the parties; 
 WHEREAS, The Company acknowledges that as a condition of employment, the Executive made a substantial equity investment in the Company concurrently with the closing of the Transaction and that subsequent
external developments unrelated to Executive’s performance substantially impaired the value of that investment; 
 WHEREAS,
in response to that investment impairment and loss of associated incentives, the Company established the 2011 Phantom Value Plan and made a grant of Incentive Awards thereunder to Executive; 

NOW, THEREFORE, in consideration of the mutual covenants contained herein and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereby agree as follow: 
  

	 	1.	Section 1 of the Employment Agreement is hereby amended to change the end of the Initial Term of the Agreement from “the fifth anniversary of the Effective
Date” to “April 10, 2015”. 

  

	 	2.	Section 2(c)(i) of the Employment Agreement, concerning Compensation Base Salary, is hereby amended to delete the phrase “an initial base salary in an amount
equal to $520,000” and to replace that phrase with “a base salary of $560,000 effective April 1, 2011 and $575,000 effective January 1, 2012.” In addition, the following language will be added to the end of
Section 2(c)(i): “Notwithstanding the foregoing, the Company will have no obligation to conduct a review of Annual Base Salary until the Company commences the first round of annual company compensation reviews following a Qualified Public
Offering (“QPO”), as defined in the Convertible Notes Indenture, at which time annual reviews of Annual Base Salary will resume. Any increases will be subject to the sole discretion of the Compensation Committee of the Board of
Directors.” 

  

	 	3.	 The Employment Agreement is hereby amended to add a new Section 2(c)(x) that provides as follows: “In connection with the planning for a
potential QPO, the Company 

	 	 
and the Compensation Committee will undertake a compensation review with an independent compensation consultant (that regularly advises national companies) concerning option grants, restricted
stock grants, cash bonuses, benefits and other awards to be provided as incentives associated with the QPO, for the purpose of adopting an equity and bonus incentive plan for executives. The approval of such program will be subject to the sole
discretion of the Compensation Committee of the Board of Directors. 

  

	 	4.	Except as otherwise provided in this Amendment, the Employment Agreement shall remain in full force and effect. 

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

 

			
	Realogy Corporation
		
	By:	 	 /s/ Richard A. Smith

	Name:	 	Richard A. Smith
	Title:	 	President and Chief Executive Officer

  

	
	 /s/ Bruce G. Zipf

	Bruce G. ZipfAmendment to Employment Agreement, Realogy Corporation and Kevin J. Kelleher

 Exhibit 10.4 
 Amendment to Employment Agreement 
 Dated April 29, 2011 between Realogy
Corporation (the “Company”) 
 and Kevin J. Kelleher (the “Executive”). 

WHEREAS, the Company and the Executive are parties to that certain Employment Agreement, dated as of April 10, 2007, executed in
connection with the Transaction whereby the Company became a subsidiary of Domus Holding Corp.; 
 WHEREAS, the Company and
Executive desire to extend that Employment Agreement with certain changes in compensation and certain confirmations concerning the expectations of the parties; 
 WHEREAS, The Company acknowledges that as a condition of employment, the Executive made a substantial equity investment in the Company concurrently with the closing of the Transaction and that subsequent
external developments unrelated to Executive’s performance substantially impaired the value of that investment; 
 WHEREAS,
in response to that investment impairment and loss of associated incentives, the Company established the 2011 Phantom Value Plan and made a grant of Incentive Awards thereunder to Executive; 

NOW, THEREFORE, in consideration of the mutual covenants contained herein and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereby agree as follow: 
  

	 	1.	Section 1 of the Employment Agreement is hereby amended to change the end of the Initial Term of the Agreement from “the fifth anniversary of the Effective
Date” to “April 10, 2015”. 

  

	 	2.	Section 2(c)(i) of the Employment Agreement, concerning Compensation Base Salary, is hereby amended to delete the phrase “an initial base salary in an amount
equal to $416,000” and to replace that phrase with “a base salary of $450,000 effective April 1, 2011 and $475,000 effective January 1, 2012.” In addition, the following language will be added to the end of
Section 2(c)(i): “Notwithstanding the foregoing, the Company will have no obligation to conduct a review of Annual Base Salary until the Company commences the first round of annual company compensation reviews following a Qualified Public
Offering (“QPO”), as defined in the Convertible Notes Indenture, at which time annual reviews of Annual Base Salary will resume. Any increases will be subject to the sole discretion of the Compensation Committee of the Board of
Directors.” 

  

	 	3.	 The Employment Agreement is hereby amended to add a new Section 2(c)(x) that provides as follows: “In connection with the planning for a
potential QPO, the Company 

	 	 
and the Compensation Committee will undertake a compensation review with an independent compensation consultant (that regularly advises national companies) concerning option grants, restricted
stock grants, cash bonuses, benefits and other awards to be provided as incentives associated with the QPO, for the purpose of adopting an equity and bonus incentive plan for executives. The approval of such program will be subject to the sole
discretion of the Compensation Committee of the Board of Directors. 

  

	 	4.	Except as otherwise provided in this Amendment, the Employment Agreement shall remain in full force and effect. 

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

 

			
	Realogy Corporation
		
	By:	 	 /s/ Richard A. Smith

	Name:	 	Richard A. Smith
	Title:	 	President and Chief Executive Officer

  

	
	 /s/ Kevin J. Kelleher

	Kevin J. KelleherRegistration Rights Agreement

 Exhibit 4.2 
 Execution Copy 
 REGISTRATION RIGHTS AGREEMENT 

This REGISTRATION RIGHTS AGREEMENT dated November 23, 2010 (this “Agreement”) is entered into by and among Dunkin’
Finance Corp., a Delaware corporation (“Escrow Issuer”), Dunkin’ Brands, Inc., a Delaware corporation (the “Company”), and J.P. Morgan Securities LLC (“J.P. Morgan”), Barclays Capital
Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Goldman, Sachs & Co., Citigroup Global Capital Markets Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc. and Morgan Stanley & Co. Incorporated
(the “Initial Purchasers”). 
 Escrow Issuer, the Company and the Initial Purchasers are parties to the Purchase
Agreement dated November 15, 2010 (the “Purchase Agreement”), which provides for the sale by Escrow Issuer to the Initial Purchasers of $625,000,000 aggregate principal amount of Escrow Issuer’s 9.625% Senior Notes due
2018 (the “Securities”). 
 The Securities will be initially issued by Escrow Issuer and an amount equal to the
gross proceeds from the issuance of the Securities, plus certain additional amounts, will initially be deposited into an escrow account pursuant to the Escrow and Security Agreement. Immediately following the redemption of the Series 2006-1 Variable
Funding Notes, Class A-1, the 5.779% Fixed Rate Series 2006-1 Senior Notes, Class A-2, and the 8.285% Fixed Rate Series 2006-1 Subordinated Notes, Class M-1 (collectively, the “ABS Notes”) issued by bankruptcy-remote indirect
wholly-owned subsidiaries of the Company and discharge of the related indenture (i) the Company will assume all of the Escrow Issuer’s obligations under the Securities and the Indenture (the “Assumption”) by entering into the
Supplemental Indenture pursuant to which the Company will become a party to the Indenture, (ii) each of the guarantors required to guarantee the Securities pursuant to the Indenture (the “Guarantors”), which the Company expects will
include the subsidiaries of the Company listed on Exhibit 1 hereto, will enter into the Supplemental Indenture pursuant to which each Guarantor will become a party to the Indenture as a Guarantor thereunder and will guarantee the Securities on a
senior unsecured basis, and (iii) following the Assumption, the Escrow Issuer will merge with and into the Company, with the Company continuing as the surviving corporation (the “Merger”). 

Immediately after the Assumption, each of the Guarantors will enter into a joinder agreement to this Agreement, to be dated the Escrow
Release Date and substantially in the form attached hereto as Annex A (the “Joinder Agreement”), pursuant to which each Guarantor will become a party to this Registration Rights Agreement. 

The representations, warranties, authorizations, acknowledgments, terms, conditions, obligations, appointments, duties, promises,
liabilities, covenants and agreements of each Guarantor set forth in this Agreement shall only be undertaken and made by such Guarantor as of the date of such Guarantor’s 

 
execution of the Joinder Agreement and shall not become effective as to such Guarantor until such execution by such Guarantor of the Joinder Agreement, at which time such representations,
warranties, authorizations, acknowledgments, terms, conditions, obligations, appointments, duties, promises, liabilities, covenants and agreements shall become effective as to such Guarantor as if made on the date hereof pursuant to the terms of the
Joinder Agreement; provided, however, that any representation, warranty, authorization, acknowledgment, term, condition, obligation, appointment, duty, promise, liability, covenant or agreement that is made or given (or deemed to have been made or
given) by the Company or any Guarantor as of a date or time prior to the redemption and discharge of the ABS Notes and related indenture shall be read and construed assuming that the redemption and discharge of the ABS Notes and related indenture
shall have occurred prior to the making or giving (or deemed making or giving) of such representation, warranty, authorization, acknowledgment, term, conditions, obligation, appointments, duty, promise, liability, covenant or agreement; and
provided, further, however, that any reference or qualification in any such representation, warranty, authorization, acknowledgment, term, condition, obligation, appointment, duty, promise, liability, covenant or agreement to the knowledge or belief
of any Guarantor (or similar reference) shall not be applicable until such time as such Guarantor executes the Joinder Agreement and such representation, warranty, authorization, acknowledgment, term, condition, obligation, appointment, duty,
promise, liability, covenant or agreement is effective as to such Guarantor. 
 As an inducement to the Initial Purchasers to
enter into the Purchase Agreement, Escrow Issuer, the Company and, upon execution and delivery of the Joinder Agreement, the Guarantors have agreed to provide to the Initial Purchasers and their direct and indirect transferees the registration
rights set forth in this Agreement. The execution and delivery of this Agreement by Escrow Issuer and the Company is a condition to the closing under the Purchase Agreement. 
 In consideration of the foregoing, the parties hereto agree as follows: 
 1.
Definitions. As used in this Agreement, the following terms shall have the following meanings: 
 “Additional
Guarantor” shall mean any subsidiary of the Company that executes a Guarantee under the Indenture after the date of this Agreement. 
 “Agreement” shall have the meaning set forth in the preamble. 

“Business Day” shall mean any day that is not a Saturday, Sunday or other day on which commercial banks in New York City
are authorized or required by law to remain closed. 

  
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 “Company” shall have the meaning set forth in the preamble and shall also
include the Company’s successors. 
 “Escrow and Security Agreement” shall mean the Senior Notes Escrow
and Security Agreement dated as of November 23, 2010, by and among Escrow Issuer, the Company and Wilmington Trust Company, as escrow agent and trustee under the Indenture. 
 “Escrow Issuer” shall have the meaning set forth in the preamble. 

“Escrow Release Date” shall have the meaning set forth in Section [1.4(b)] of the Escrow and Security Agreement.

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

“Exchange Dates” shall have the meaning set forth in Section 2(a)(ii) hereof. 

“Exchange Offer” shall mean the exchange offer by the Company and the Guarantors of Exchange Securities for Registrable
Securities pursuant to Section 2(a) hereof. 
 “Exchange Offer Registration” shall mean a registration
under the Securities Act effected pursuant to Section 2(a) hereof. 
 “Exchange Offer Registration
Statement” shall mean an exchange offer registration statement on Form S-4 (or, if applicable, on another appropriate form) and all amendments and supplements to such registration statement, in each case including the Prospectus contained
therein or deemed a part thereof, all exhibits thereto and any document incorporated by reference therein. 
 “Exchange
Securities” shall mean senior notes issued by the Company and guaranteed by the Guarantors under the Indenture containing terms identical to the Securities (except that the Exchange Securities will not be entitled to registration rights
hereunder and will not be subject to restrictions on transfer or to any increase in annual interest rate for failure to comply with this Agreement) and to be offered to Holders of Securities in exchange for Securities pursuant to the Exchange Offer.

 “FINRA” means the Financial Industry Regulatory Authority, Inc. 

“Free Writing Prospectus” means each free writing prospectus (as defined in Rule 405 under the Securities Act) prepared
by or on behalf of the Company or used or referred to by the Company in connection with the sale of the Securities or the Exchange Securities. 

  
 3 

 “Guarantees” shall mean the guarantees of the Securities and guarantees of
the Exchange Securities by the Guarantors under the Indenture. 
 “Guarantors” shall have the meaning set forth
in the preamble and shall also include any Guarantor’s successors and any Additional Guarantors. 

“Holders” shall mean the Initial Purchasers, for so long as they own any Registrable Securities, and each of their
successors, assigns and direct and indirect transferees who become owners of Registrable Securities under the Indenture; provided that, for purposes of Section 4 and Section 5 hereof, the term “Holders” shall include
Participating Broker-Dealers. 
 “Indemnified Person” shall have the meaning set forth in Section 5(c)
hereof. 
 “Indemnifying Person” shall have the meaning set forth in Section 5(c) hereof. 

“Indenture” shall mean the Indenture relating to the Securities dated as of November [—], 2010 among Escrow Issuer and Wilmington Trust Company, as trustee, and as the same may be amended and supplemented from time to time in accordance with the terms thereof. 

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

“Inspector” shall have the meaning set forth in Section 3(a)(xiv) hereof. 

“Issuer Information” shall have the meaning set forth in Section 5(a) hereof. 

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

“J.P. Morgan” shall have the meaning set forth in the preamble. 

“Majority Holders” shall mean the Holders of a majority of the aggregate principal amount of the outstanding Registrable
Securities; provided that whenever the consent or approval of Holders of a specified percentage of Registrable Securities is required hereunder, any Registrable Securities owned directly or indirectly by the Company or any of its affiliates
shall not be counted in determining whether such consent or approval was given by the Holders of such required percentage or amount; and provided, further, that if the Company shall issue any additional Securities under the Indenture
prior to consummation of the Exchange Offer or, if applicable, the effectiveness of any Shelf Registration Statement, such additional Securities and the Registrable Securities to which this Agreement relates shall be treated together as one class
for purposes of determining whether the consent or approval of Holders of a specified percentage of Registrable Securities has been obtained. 

  
 4 

 “Merger” shall have the meaning set forth in the preamble. 

“Notice and Questionnaire” shall mean a notice of registration statement and selling security holder questionnaire
distributed to a Holder by the Company upon receipt of a Shelf Request from such Holder. 
 “Participating
Broker-Dealers” shall have the meaning set forth in Section 4(a) hereof. 
 “Participating
Holder” shall mean, as to a particular Registration Statement, any Holder of Registrable Securities that has returned a completed and signed Notice and Questionnaire to the Company in accordance with Section 2(b) hereof and has
included Registrable Securities held by such Participating Holder in such Registration Statement. 
 “Person”
shall mean an individual, partnership, limited liability company, corporation, trust or unincorporated organization, or a government or agency or political subdivision thereof. 

“Prospectus” shall (i) mean the prospectus included in, or, pursuant to the rules and regulations of the Securities
Act, deemed a part of, a Registration Statement, including any preliminary prospectus, and (ii) any such prospectus as amended or supplemented by any prospectus supplement, including a prospectus supplement with respect to the terms of the
offering of any portion of the Registrable Securities covered by a Shelf Registration Statement, and by all other amendments and supplements to such prospectus, and in each case including any document incorporated by reference therein. 

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

“Registrable Securities” shall mean the Securities; provided that the Securities shall cease to be Registrable
Securities (i) when a Registration Statement with respect to such Securities has become effective under the Securities Act and such Securities have been exchanged or disposed of pursuant to such Registration Statement, (ii) when such
Securities are sold pursuant to Rule 144 under the Securities Act (or any similar provision then in force, but not Rule 144A), if following such resale such Securities do not bear any restrictive legend relating to the Securities Act and do not bear
a restricted CUSIP number, (iii) when such Securities cease to be outstanding, (iv) as of the first date on or after the two year anniversary of the Closing Date that such Security is eligible for sale pursuant to Rule 144 under the 1933
Act, or (v) except in the case of Securities that are held by an Initial Purchaser and that are ineligible to be exchanged in the Exchange Offer, when the Exchange Offer is consummated. 

“Registration Default” shall mean the occurrence of any of the following: (i) the Exchange Offer is not completed
on or prior to the Target Registration Date, (ii) the Shelf Registration Statement, if required pursuant to Section 2(b)(i) or Section 2(b)(ii) hereof, has not become effective on or prior to the Target

  
 5 

 
Registration Date, (iii) if the Company receives a Shelf Request pursuant to Section 2(b)(iii), the Shelf Registration Statement required to be filed thereby has not become effective by
the later of (a) the Target Registration Date and (b) 90 days after delivery of such Shelf Request, or (iv) the Shelf Registration Statement, if required by this Agreement, has become effective and thereafter ceases to be effective or
the Prospectus contained therein ceases to be usable, in each case whether or not permitted by this Agreement, at any time during the Shelf Effectiveness Period, and such failure to remain effective or usable exists for more than 30 days (whether or
not consecutive) in any 12-month period. 
 “Registration Expenses” shall mean any and all expenses incident to
performance of or compliance by the Company and the Guarantors with this Agreement, including without limitation: (i) all SEC, stock exchange or FINRA registration and filing fees, (ii) all fees and expenses incurred in connection with
compliance with state securities or blue sky laws (including reasonable fees and disbursements of one counsel for any Underwriters or Holders in connection with blue sky qualification of any Exchange Securities or Registrable Securities),
(iii) all expenses of any Persons approved by the Company in preparing or assisting in preparing, word processing, printing and distributing any Registration Statement, any Prospectus, any Free Writing Prospectus and any amendments or
supplements thereto, any underwriting agreements, securities sales agreements or other similar agreements and any other documents relating to the performance of and compliance with this Agreement, (iv) all rating agency fees relating to the
Securities or the Exchange Securities, (v) all fees and disbursements relating to the qualification of the Indenture under applicable securities laws, (vi) the fees and disbursements of the Trustee and its counsel relating to the
Indenture, the Securities or the Exchange Securities, (vii) the fees and disbursements of counsel for the Company and the Guarantors and, in the case of a Shelf Registration Statement, the reasonable fees and disbursements of one counsel for
the Participating Holders (which counsel shall be selected by the Participating Holders holding a majority of the aggregate principal amount of Registrable Securities held by such Participating Holders and which counsel may also be counsel for the
Initial Purchasers) and (viii) the fees and disbursements of the independent registered public accountants of the Company and the Guarantors, including the expenses of any special audits or “comfort” letters required by or incident to
the performance of and compliance with this Agreement, but excluding fees and expenses of counsel to the Underwriters (other than fees and expenses set forth in clause (ii) above) or the Holders and underwriting discounts and commissions,
brokerage commissions and transfer taxes, if any, relating to the sale or disposition of Registrable Securities by a Holder. 

“Registration Statement” shall mean any registration statement of the Company and the Guarantors that covers any of the
Exchange Securities or Registrable Securities pursuant to the provisions of this Agreement and all amendments and supplements to any such registration statement, including post-effective amendments, in each case including the Prospectus contained
therein 

  
 6 

 
or deemed a part thereof, all exhibits thereto and any document incorporated by reference therein. 
 “SEC” shall mean the United States Securities and Exchange Commission. 
 “Securities” shall have the meaning set forth in the preamble. 

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

“Shelf Effectiveness Period” shall have the meaning set forth in Section 2(b) hereof. 

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

“Shelf Registration Statement” shall mean a “shelf” registration statement of the Company and the Guarantors
that covers all or a portion of the Registrable Securities (but no other securities unless approved by a majority in aggregate principal amount of the Securities held by the Participating Holders) on an appropriate form under Rule 415 under the
Securities Act, or any similar rule that may be adopted by the SEC, and all amendments and supplements to such registration statement, including post-effective amendments, in each case including the Prospectus contained therein or deemed a part
thereof, all exhibits thereto and any document incorporated by reference therein. 
 “Shelf Request” shall have
the meaning set forth in Section 2(b) hereof. 
 “Staff” shall mean the staff of the SEC. 

“Supplemental Indenture” shall mean the supplemental indenture dated as of the Escrow Release Date, to be entered into
by the Company and each of the Guarantors. 
 “Target Registration Date” shall mean the date which is 365 days
from November [—] 2010. 
 “Trust Indenture Act” shall mean
the Trust Indenture Act of 1939, as amended from time to time. 
 “Trustee” shall mean the trustee with respect
to the Securities under the Indenture. 
 “Underwriter” shall have the meaning set forth in Section 3(e)
hereof. 
 “Underwritten Offering” shall mean an offering in which Registrable Securities are sold to an
Underwriter for reoffering to the public. 

  
 7 

 2. Registration Under the Securities Act. (a) To the extent not prohibited by
any applicable law or applicable interpretations of the Staff, the Company and the Guarantors shall use their reasonable best efforts to (x) cause to be filed an Exchange Offer Registration Statement covering an offer to the Holders to exchange
all the Registrable Securities for Exchange Securities and (y) have such Registration Statement become and remain effective until the earlier of (1) 180 days after the last Exchange Date for use by one or more Participating Broker-Dealers,
and (2) such time as no Participating Broker-Dealer that receives Exchange Securities in exchange for Securities in the Exchange Offer holds any such Exchange Securities. The Company and the Guarantors shall commence the Exchange Offer promptly
after the Exchange Offer Registration Statement is declared effective by the SEC and use their reasonable best efforts to complete the Exchange Offer not later than 60 days after such effective date. 

The Company and the Guarantors shall commence the Exchange Offer by mailing the related Prospectus, appropriate letters of transmittal
and other accompanying documents to each Holder stating, in addition to such other disclosures as are required by applicable law, substantially the following: 
  

	(i)	that the Exchange Offer is being made pursuant to this Agreement and that all Registrable Securities validly tendered and not properly withdrawn will be accepted for
exchange; 

  

	(ii)	the dates of acceptance for exchange (which shall be a period of at least 20 Business Days from the date such notice is mailed) (the “Exchange Dates”);

  

	(iii)	that any Registrable Security not tendered will remain outstanding and continue to accrue interest but will not retain any rights under this Agreement, except as
otherwise specified herein; 

  

	(iv)	that any Holder electing to have a Registrable Security exchanged pursuant to the Exchange Offer will be required to (A) surrender such Registrable Security,
together with the appropriate letters of transmittal, to the institution and at the address and in the manner specified in the notice, or (B) effect such exchange otherwise in compliance with the applicable procedures of the depositary for such
Registrable Security, in each case prior to the close of business on the last Exchange Date; and 

  

	(v)	 that any Holder will be entitled to withdraw its election, not later than the close of business on the last Exchange Date, by (A) sending to the
institution and at the address specified in the notice, a telegram, facsimile transmission or letter setting forth the name of such Holder, the principal amount of Registrable Securities delivered for exchange and a statement that such Holder is
withdrawing its election to have such Securities 

  
 8 

	 	 
exchanged or (B) effecting such withdrawal in compliance with the applicable procedures of the depositary for the Registrable Securities. 

As a condition to participating in the Exchange Offer, a Holder (including any Participating Broker-Dealer) will be required to represent
to the Company and the Guarantors that (1) any Exchange Securities to be received by it will be acquired in the ordinary course of its business, (2) it is not engaged in, and at the time of the commencement of the Exchange Offer it has no
arrangement or understanding with any Person to participate in, any distribution (within the meaning of the Securities Act) of the Exchange Securities in violation of the provisions of the Securities Act, (3) it is not an “affiliate”
(within the meaning of Rule 405 under the Securities Act) of the Company or any Guarantor and (4) if such Holder is a broker-dealer that will receive Exchange Securities for its own account in exchange for Registrable Securities that were
acquired as a result of market-making or other trading activities, then such Holder will deliver a Prospectus (or, to the extent permitted by law, make available a Prospectus to purchasers) in connection with any resale of such Exchange Securities.

 As soon as practicable after the last Exchange Date, the Company and the Guarantors shall: 

 

	(I)	accept for exchange Registrable Securities or portions thereof validly tendered and not properly withdrawn pursuant to the Exchange Offer; and 

 

	(II)	deliver, or cause to be delivered, to the Trustee for cancellation all Registrable Securities or portions thereof so accepted for exchange by the Company and issue, and
cause the Trustee to promptly authenticate and deliver to each Holder, Exchange Securities equal in principal amount to the principal amount of the Registrable Securities tendered by such Holder. 

The Company and the Guarantors shall use their reasonable best efforts to complete the Exchange Offer as provided above and shall comply
with the applicable requirements of the Securities Act, the Exchange Act and other applicable laws and regulations in connection with the Exchange Offer. The Exchange Offer shall not be subject to any conditions, other than that the Exchange Offer
does not violate any applicable law or applicable interpretations of the Staff and other customary conditions for exchange offers like the Exchange Offer. 
 (b) In the event that (i) the Company and the Guarantors determine that the Exchange Offer Registration provided for in Section 2(a) hereof is not available or the Exchange Offer may not be
completed as soon as practicable after the last Exchange Date because it would violate any applicable law or applicable interpretations of the Staff, (ii) the Exchange Offer is not for any other reason completed by the Target Registration Date
or (iii) upon receipt of a written request (a “Shelf Request”) from any Initial Purchaser representing that it holds 

  
 9 

 
Registrable Securities that are or were ineligible to be exchanged in the Exchange Offer, the Company and the Guarantors shall use their reasonable best efforts to cause to be filed as soon as
practicable after such determination, date or Shelf Request, as the case may be, a Shelf Registration Statement providing for the sale of all the Registrable Securities by the Holders thereof and to have such Shelf Registration Statement become
effective; provided that no Holder will be entitled to have any Registrable Securities included in any Shelf Registration Statement, or entitled to use the prospectus forming a part of such Shelf Registration Statement, until such Holder
shall have delivered a completed and signed Notice and Questionnaire and provided such other information regarding such Holder to the Company as is contemplated by Section 3(b) hereof. To the extent a Shelf Registration Statement is required to
be filed pursuant to clause (ii) above and the Exchange Offer is completed on a date later than the Target Registration Date, upon the completion of the Exchange Offer, the Company and the Guarantors will no longer be required to file, make
effective or continue the effectiveness of the Shelf Registration Statement, except as may be required pursuant to clause (i) or (iii). 
 In the event that the Company and the Guarantors are required to file a Shelf Registration Statement pursuant to clause (iii) of the preceding sentence, the Company and the Guarantors shall use their
reasonable best efforts to file and have become effective both an Exchange Offer Registration Statement pursuant to Section 2(a) hereof with respect to all Registrable Securities and a Shelf Registration Statement (which may be a combined
Registration Statement with the Exchange Offer Registration Statement) with respect to offers and sales of Registrable Securities held by the Initial Purchasers after completion of the Exchange Offer. 

The Company and the Guarantors agree to use their reasonable best efforts to keep the Shelf Registration Statement continuously effective
until the Securities cease to be Registrable Securities (the “Shelf Effectiveness Period”). The Company and the Guarantors further agree to supplement or amend the Shelf Registration Statement, the related Prospectus and any Free
Writing Prospectus if required by the rules, regulations or instructions applicable to the registration form used by the Company for such Shelf Registration Statement or by the Securities Act or by any other rules and regulations thereunder or if
reasonably and timely requested by a Holder of Registrable Securities with respect to information relating to such Holder, and to use their reasonable best efforts to cause any such amendment to become effective, if required, and such Shelf
Registration Statement, Prospectus or Free Writing Prospectus, as the case may be, to become usable as soon as thereafter practicable. The Company and the Guarantors agree to furnish to the Participating Holders copies of any such supplement or
amendment promptly after its being used or filed with the SEC. 
 (c) The Company and the Guarantors shall pay all Registration
Expenses in connection with any registration pursuant to Section 2(a) or 

  
 10 

 
Section 2(b) hereof. Each Holder shall pay all underwriting discounts and commissions, brokerage commissions and transfer taxes, if any, relating to the sale or disposition of such
Holder’s Registrable Securities pursuant to the Shelf Registration Statement. 
 (d) An Exchange Offer Registration
Statement pursuant to Section 2(a) hereof will not be deemed to have become effective unless it has been declared effective by the SEC. A Shelf Registration Statement pursuant to Section 2(b) hereof will not be deemed to have become
effective unless it has been declared effective by the SEC or is automatically effective upon filing with the SEC as provided by Rule 462 under the Securities Act. 
 If a Registration Default occurs, the interest rate on the Registrable Securities eligible to be included in the Registration Statement giving rise to such Registration Default will be increased by
(i) 0.25% per annum for the first 90-day period beginning on the day immediately following such Registration Default and (ii) an additional 0.25% per annum with respect to each subsequent 90-day period, in each case until and
including the date such Registration Default ends, up to a maximum increase of 1.00% per annum. A Registration Default ends when the Securities cease to be Registrable Securities or, if earlier, (1) in the case of a Registration Default
under clause (i) of the definition thereof, when the Exchange Offer is completed, (2) in the case of a Registration Default under clause (ii) or clause (iii) of the definition thereof, when the Shelf Registration Statement
becomes effective or (3) in the case of a Registration Default under clause (iv) of the definition thereof, when the Shelf Registration Statement again becomes effective or the Prospectus again becomes usable. If at any time more than one
Registration Default has occurred and is continuing, then, until the next date that there is no Registration Default, the increase in interest rate provided for by this paragraph shall apply as if there occurred a single Registration Default that
begins on the date that the earliest such Registration Default occurred and ends on such next date that there is no Registration Default. 
 (e) Without limiting the remedies available to the Initial Purchasers and the Holders, the Company and the Guarantors acknowledge that any failure by the Company or the Guarantors to comply with their
obligations under Section 2(a) and Section 2(b) hereof may result in material irreparable injury to the Initial Purchasers or the Holders for which there is no adequate remedy at law, that it will not be possible to measure damages for
such injuries precisely and that, in the event of any such failure, the Initial Purchasers or any Holder may, to the extent permitted by applicable law, obtain such relief as may be required to specifically enforce the Company’s and the
Guarantors’ obligations under Section 2(a) and Section 2(b) hereof. 
 3. Registration Procedures.
(a) In connection with their obligations pursuant to Section 2(a) and Section 2(b) hereof, the Company and the Guarantors shall: 

  
 11 

 (i) prepare and file with the SEC a Registration Statement on the appropriate form under the
Securities Act, which form (A) shall be selected by the Company and the Guarantors, (B) shall, in the case of a Shelf Registration, be available for the sale of the Registrable Securities by the Holders thereof and (C) shall comply as
to form in all material respects with the requirements of the applicable form and include all financial statements required by the SEC to be filed therewith; and use their reasonable best efforts to cause such Registration Statement to become
effective and remain effective for the applicable period in accordance with Section 2 hereof; 
 (ii) prepare and file with
the SEC such amendments and post-effective amendments to each Registration Statement as may be necessary to keep such Registration Statement effective for the applicable period in accordance with Section 2 hereof and cause each Prospectus to be
supplemented by any required prospectus supplement and, as so supplemented, to be filed pursuant to Rule 424 under the Securities Act; and keep each Prospectus current during the period described in Section 4(3) of and Rule 174 under the
Securities Act that is applicable to transactions by brokers or dealers with respect to the applicable Registrable Securities or Exchange Securities; 
 (iii) to the extent any Free Writing Prospectus is used, file with the SEC any Free Writing Prospectus that is required to be filed by the Company or the Guarantors with the SEC in accordance with the
Securities Act and to retain any Free Writing Prospectus not required to be filed; 
 (iv) in the case of a Shelf Registration,
furnish to each Participating Holder, to counsel for the Initial Purchasers, to the one counsel for such Participating Holders and to each Underwriter of an Underwritten Offering of Registrable Securities, if any, without charge, as many copies of
each Prospectus, preliminary prospectus or Free Writing Prospectus, and any amendment or supplement thereto, as such Participating Holder, counsel or Underwriter may reasonably request in order to facilitate the sale or other disposition of the
Registrable Securities thereunder; and, subject to Section 3(c) hereof, the Company and the Guarantors consent to the use of such Prospectus, preliminary prospectus or such Free Writing Prospectus and any amendment or supplement thereto in
accordance with applicable law by each of the Participating Holders and any such Underwriters in connection with the offering and sale of the Registrable Securities covered by and in the manner described in such Prospectus, preliminary prospectus or
such Free Writing Prospectus or any amendment or supplement thereto in accordance with applicable law; 
 (v) use their
reasonable best efforts to register or qualify the Registrable Securities under all applicable state securities or blue sky laws of such jurisdictions as any Participating Holder shall reasonably request in writing by the time the applicable
Registration Statement becomes effective; cooperate with such Participating Holders in connection with any filings required to be made with FINRA; and do any and all other acts and things that may be reasonably

  
 12 

 
necessary or advisable to enable each Participating Holder to complete the disposition in each such jurisdiction of the Registrable Securities owned by such Participating Holder; provided
that neither the Company nor any Guarantor shall be required to (1) qualify as a foreign corporation or other entity or as a dealer in securities in any such jurisdiction where it would not otherwise be required to so qualify, (2) file any
general consent to service of process in any such jurisdiction or (3) subject itself to taxation in any such jurisdiction if it is not so subject; 
 (vi) notify counsel for the Initial Purchasers and, in the case of a Shelf Registration, notify each Participating Holder and the one counsel for such Participating Holders promptly and, if requested by
any such Participating Holder or counsel, confirm such advice in writing (1) when a Registration Statement has become effective, when any post-effective amendment thereto has been filed and becomes effective, when any Free Writing Prospectus
has been filed or any amendment or supplement to the Prospectus or any Free Writing Prospectus has been filed, (2) of any request by the SEC or any state securities authority for amendments and supplements to a Registration Statement,
Prospectus or any Free Writing Prospectus or for additional information after the Registration Statement has become effective, (3) of the issuance by the SEC or any state securities authority of any stop order suspending the effectiveness of a
Registration Statement or the initiation of any proceedings for that purpose, including the receipt by the Company of any notice of objection of the SEC to the use of a Shelf Registration Statement or any post-effective amendment thereto pursuant to
Rule 401(g)(2) under the Securities Act, (4) if, between the applicable effective date of a Shelf Registration Statement and the closing of any sale of Registrable Securities covered thereby, the Company or any Guarantor receives any
notification with respect to the suspension of the qualification of the Registrable Securities for sale in any jurisdiction or the initiation of any proceeding for such purpose, (5) of the happening of any event during the period a Registration
Statement is effective that makes any statement made in such Registration Statement or the related Prospectus or any Free Writing Prospectus untrue in any material respect or that requires the making of any changes in such Registration Statement or
Prospectus or any Free Writing Prospectus in order to make the statements therein (in the light of the circumstances under which they were made, in the case of the Prospectus) not misleading and (6) of any determination by the Company or any
Guarantor that a post-effective amendment to a Registration Statement or any amendment or supplement to the Prospectus or any Free Writing Prospectus would be required; 
 (vii) use their reasonable best efforts to obtain the withdrawal of any order suspending the effectiveness of a Registration Statement or, in the case of a Shelf Registration, the resolution of any
objection of the SEC pursuant to Rule 401(g)(2) under the Securities Act, including by filing an amendment to such Registration Statement on the proper form, as promptly as practicable and provide prompt notice to each Participating Holder of the
withdrawal of any such order or such resolution; 

  
 13 

 (viii) in the case of a Shelf Registration, if requested, furnish to each Participating
Holder, without charge, at least one conformed copy of the Shelf Registration Statement and any post-effective amendment thereto (without any documents incorporated therein by reference or exhibits thereto, unless requested in writing); 

(ix) in the case of a Shelf Registration, cooperate with the Participating Holders to facilitate the timely preparation and delivery of
certificates representing Registrable Securities to be sold and not bearing any restrictive legends and enable such Registrable Securities to be issued in such denominations and registered in such names (consistent with the provisions of the
Indenture) as such Participating Holders may reasonably request at least one Business Day prior to the closing of any sale of Registrable Securities; 
 (x) upon the occurrence of any event contemplated by Section 3(a)(vi)(5) hereof, use their reasonable best efforts to prepare and file with the SEC a supplement or post-effective amendment to the
applicable Exchange Offer Registration Statement or Shelf Registration Statement or the related Prospectus or any Free Writing Prospectus or any document incorporated therein by reference or file any other required document so that, as thereafter
delivered (or, to the extent permitted by law, made available) to purchasers of the Registrable Securities, such Prospectus or Free Writing Prospectus, as the case may be, will not contain any untrue statement of a material fact or omit to state a
material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading; and, in the case of a Shelf Registration Statement, the Company and the Guarantors shall notify the Participating
Holders to suspend use of the Prospectus or any Free Writing Prospectus as promptly as practicable after the occurrence of such an event, and such Participating Holders hereby agree to suspend use of the Prospectus or any Free Writing Prospectus, as
the case may be, until the Company and the Guarantors have amended or supplemented the Prospectus or the Free Writing Prospectus, as the case may be, to correct such misstatement or omission; 

(xi) a reasonable time prior to the filing of any Registration Statement, any Prospectus, any Free Writing Prospectus, any amendment to a
Registration Statement or amendment or supplement to a Prospectus or a Free Writing Prospectus or of any document that is to be incorporated by reference into a Registration Statement, a Prospectus or a Free Writing Prospectus after initial filing
of a Registration Statement, provide copies of such document to the Initial Purchasers and their counsel (and, in the case of a Shelf Registration Statement, to the Participating Holders and their counsel) and make such of the representatives of the
Company and the Guarantors as shall be reasonably requested by the Initial Purchasers or their counsel (and, in the case of a Shelf Registration Statement, the Participating Holders or their one counsel) available for a reasonable period of time for
discussion of such document; and the Company and the Guarantors shall not, at any time after initial filing of a Registration Statement, use or file any Prospectus, any Free Writing Prospectus,

  
 14 

 
any amendment of or supplement to a Registration Statement or a Prospectus or a Free Writing Prospectus, or any document that is to be incorporated by reference into a Registration Statement, a
Prospectus or a Free Writing Prospectus, of which the Initial Purchasers and their counsel (and, in the case of a Shelf Registration Statement, the Participating Holders and their counsel) shall not have previously been advised and furnished a copy
or to which the Initial Purchasers or their counsel (and, in the case of a Shelf Registration Statement, the Participating Holders or their counsel) shall reasonably object in writing within five Business Days after receipt thereof; 

(xii) use reasonable best efforts to obtain a CUSIP number for all Exchange Securities or Registrable Securities, as the case may be, not
later than the initial effective date of a Registration Statement; 
 (xiii) use reasonable best efforts to cause the Indenture
to be qualified under the Trust Indenture Act in connection with the registration of the Exchange Securities or Registrable Securities, as the case may be; cooperate with the Trustee and the Holders to effect such changes to the Indenture as may be
required for the Indenture to be so qualified in accordance with the terms of the Trust Indenture Act; and execute, and use their reasonable best efforts to cause the Trustee to execute, all documents as may be required to effect such changes and
all other forms and documents required to be filed with the SEC to enable the Indenture to be so qualified in a timely manner; 

(xiv) in the case of a Shelf Registration, make available for inspection by a representative of the Participating Holders (an
“Inspector”), any Underwriter participating in any disposition pursuant to such Shelf Registration Statement, one attorney and one accountant designated by a majority in aggregate principal amount of the Securities held by the
Participating Holders and one attorney and one accountant designated by such Underwriter, at reasonable times and in a reasonable manner, all pertinent financial and other records, documents and properties of the Company and the Guarantors, and
cause the respective officers, directors and employees of the Company and the Guarantors to supply all information reasonably requested by any such Inspector, Underwriter, attorney or accountant in connection with a Shelf Registration Statement;
provided that if any such information is identified by the Company or any Guarantor as being confidential or proprietary, each Person receiving such information shall take such actions as are reasonably necessary to protect the
confidentiality of such information to the extent such action is otherwise not inconsistent with, an impairment of or in derogation of the rights and interests of any Inspector, Holder or Underwriter); 

(xv) in the case of a Shelf Registration, use their reasonable best efforts to cause all Registrable Securities to be listed on any
securities exchange or any automated quotation system on which similar securities issued or guaranteed by the Company or any Guarantor are then listed if requested by the Majority 

  
 15 

 
Holders, to the extent such Registrable Securities satisfy applicable listing requirements; 
 (xvi) if reasonably requested by any Participating Holder and required by applicable law or SEC rules, promptly include in a Prospectus supplement or post-effective amendment such information with respect
to such Participating Holder as such Participating Holder reasonably requests to be included therein and make all required filings of such Prospectus supplement or such post-effective amendment as soon as practicable after the Company has received
notification of the matters to be so included in such filing; 
 (xvii) in the case of a Shelf Registration, enter into such
customary agreements and take all such other actions in connection therewith (including those reasonably requested in writing by the Participating Holders of a majority in principal amount of the Registrable Securities covered by the Shelf
Registration Statement) in order to expedite or facilitate the disposition of such Registrable Securities including, but not limited to, entering into an underwriting agreement in connection with an Underwritten Offering and in such connection,
(1) to the extent possible, make such representations and warranties to any Underwriters of such Registrable Securities with respect to the business of the Company and its subsidiaries and the Registration Statement, Prospectus, any Free
Writing Prospectus and documents incorporated by reference or deemed incorporated by reference, if any, in each case, in form, substance and scope as are customarily made by issuers to underwriters in underwritten offerings and confirm the same if
and when requested, (2) use reasonable best efforts to obtain opinions of counsel to the Company and the Guarantors (which counsel and opinions, in form, scope and substance, shall be reasonably satisfactory to the such Underwriters and their
counsel) addressed to each Underwriter of such Registrable Securities, covering the matters customarily covered in opinions requested in underwritten offerings, (3) use reasonable best efforts to obtain “comfort”, “agreed upon
procedures” or similar letters from the independent registered public accountants of the Company and the Guarantors (and, if necessary, any other registered public accountant of any subsidiary of the Company or any Guarantor, or of any business
acquired by the Company or any Guarantor for which financial statements and financial data are or are required to be included in the Registration Statement) addressed to each Underwriter of such Registrable Securities, such letters to be in
customary form and covering matters of the type customarily covered in “comfort” letters in connection with underwritten offerings and (4) deliver such documents and certificates as may be reasonably requested by the Holders of a
majority in principal amount of the Registrable Securities being sold or the Underwriters, and which are customarily delivered in underwritten offerings, to evidence the accuracy as of the closing date of the representations and warranties of the
Company and the Guarantors made pursuant to clause (1) above and to evidence compliance with any customary conditions contained in the underwriting agreement; and 

  
 16 

 (xviii) so long as any Registrable Securities remain outstanding, cause each Additional
Guarantor upon the creation or acquisition by the Company of such Additional Guarantor, to execute a counterpart to this Agreement in the form attached hereto as Annex A and to deliver such counterpart to the Initial Purchasers no later than five
Business Days following the execution thereof. 
 (b) In the case of a Shelf Registration Statement, the Company may require
each Holder of Registrable Securities to furnish to the Company a Notice and Questionnaire and such other information regarding such Holder and the proposed disposition by such Holder of such Registrable Securities as the Company and the Guarantors
may from time to time reasonably request in writing; provided that if such Holder fails to provide the Notice and Questionnaire or such other requested information within 20 days after receipt of a request therefor, the Company may exclude such
Holder’s Registrable Securities from such Shelf Registration Statement until such time as the information is provided. Each Holder agrees to promptly furnish to the Company additional information required to be disclosed in order to make the
information previously furnished to the Company by such Holder not misleading. No Holder who fails to comply with the requirements of this Section 3(b) within the timeframe specified shall be entitled to the benefits of Section 2(d) of
this Agreement unless and until such Holder shall have provided all such information (it being understood that no change in the interest rate on the Registrable Securities shall be effective for the benefit of any Holder until such Holder provides
such information). 
 (c) Each Participating Holder agrees that, upon receipt of any notice from the Company and the Guarantors
of the happening of any event of the kind described in Section 3(a)(vi)(3) or Section 3(a)(vi)(5) hereof, such Participating Holder will forthwith discontinue disposition of Registrable Securities pursuant to the Shelf Registration
Statement until such Participating Holder’s receipt of the copies of the supplemented or amended Prospectus and any Free Writing Prospectus contemplated by Section 3(a)(x) hereof and, if so directed by the Company and the Guarantors, such
Participating Holder will deliver to the Company and the Guarantors all copies in its possession, other than permanent file copies then in such Participating Holder’s possession which such Holder agrees will not be used thereafter, of the
Prospectus and any Free Writing Prospectus covering such Registrable Securities that is current at the time of receipt of such notice. In addition, the Company may give notice of the suspension of the offering and sale under a Shelf Registration
Statement for a period or periods upon the occurrence or existence of any pending corporate development that, in the good faith judgment of the Board of Directors of the Company, makes such suspension necessary and not for the purpose of avoidance
of its obligations under this Agreement. 
 (d) If the Company and the Guarantors shall give any notice to suspend the
disposition of Registrable Securities pursuant to a Registration Statement, the Company and the Guarantors shall extend the period during which such Registration Statement shall be maintained effective pursuant to this

  
 17 

 
Agreement by the number of days during the period from and including the date of the giving of such notice to and including the date when the Holders of such Registrable Securities shall have
received copies of the supplemented or amended Prospectus or any Free Writing Prospectus necessary to resume such dispositions or the Company advises the Holders that the use of the Prospectus may be resumed. Any such suspensions shall not exceed 60
days during any 365-day period. 
 (e) The Participating Holders in a Shelf Registration Statement who desire to do so may sell
such Registrable Securities in an Underwritten Offering. In any such Underwritten Offering, the investment bank or investment banks and manager or managers (each an “Underwriter”) that will administer the offering will be selected
by the Participating Holders of a majority in principal amount of the Registrable Securities included in such offering and reasonably acceptable to the Company. However, each Holder agrees that, neither such Holder nor any Underwriter participating
in any disposition pursuant to any Registration Statement on such Holder’s behalf, will make any offer relating to the Registrable Securities that would constitute an Issuer Free Writing Prospectus (as defined in Rule 433 under the Securities
Act) or that would otherwise constitute a “free writing prospectus” (as defined in Rule 405 under the Securities Act) required to be filed by the Company with the SEC or retained by the Company under Rule 433 of the Securities Act, unless
it has obtained the prior written consent of the Company. 
 4. Participation of Broker-Dealers in Exchange Offer.
(a) The Staff has taken the position that any broker-dealer that receives Exchange Securities for its own account in the Exchange Offer in exchange for Securities that were acquired by such broker-dealer as a result of market-making or other
trading activities (a “Participating Broker-Dealer”) may be deemed to be an “underwriter” within the meaning of the Securities Act and must deliver a prospectus meeting the requirements of the Securities Act in connection
with any resale of such Exchange Securities. 
 The Company and the Guarantors understand that it is the Staff’s position
that if the Prospectus contained in the Exchange Offer Registration Statement includes a plan of distribution containing a statement to the above effect and the means by which Participating Broker-Dealers may resell the Exchange Securities, without
naming the Participating Broker-Dealers or specifying the amount of Exchange Securities owned by them, such Prospectus may be delivered by Participating Broker-Dealers (or, to the extent permitted by law, made available to purchasers) to satisfy
their prospectus delivery obligation under the Securities Act in connection with resales of Exchange Securities for their own accounts, so long as the Prospectus otherwise meets the requirements of the Securities Act. 

(b) In light of the above, and notwithstanding the other provisions of this Agreement, the Company and the Guarantors agree to use their
reasonable 

  
 18 

 
best efforts to amend or supplement the Prospectus contained in the Exchange Offer Registration Statement for the period specified in Section 2(a)(y) of this Agreement (as such period may be
extended pursuant to Section 3(d) hereof), in order to expedite or facilitate the disposition of any Exchange Securities by Participating Broker-Dealers consistent with the positions of the Staff recited in Section 4(a) above. The Company
and the Guarantors further agree that Participating Broker-Dealers shall be authorized to deliver such Prospectus (or, to the extent permitted by law, make available) during such period in connection with the resales contemplated by this
Section 4. 
 (c) The Initial Purchasers shall have no liability to the Company, any Guarantor or any Holder with respect
to any request that they may make pursuant to Section 4(b) hereof. 
 5. Indemnification and Contribution.
(a) The Company and each Guarantor, jointly and severally, agree to indemnify and hold harmless each Initial Purchaser and each Holder, their respective affiliates, directors and officers and each Person, if any, who controls any Initial
Purchaser or any Holder within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act, from and against any and all losses, claims, damages and liabilities (including, without limitation, legal fees and other
expenses reasonably incurred in connection with any suit, action or proceeding or any claim asserted, as such fees and expenses are incurred), joint or several, that arise out of, or are based upon, (1) any untrue statement or alleged untrue
statement of a material fact contained in any Registration Statement or any omission or alleged omission to state therein a material fact required to be stated therein or necessary in order to make the statements therein not misleading, or
(2) any untrue statement or alleged untrue statement of a material fact contained in any Prospectus, any Free Writing Prospectus or any “issuer information” (“Issuer Information”) filed or required to be filed
pursuant to Rule 433(d) under the Securities Act, or any omission or alleged omission to state therein a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading,
in each case except insofar as such losses, claims, damages or liabilities arise out of, or are based upon, any untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with any information
relating to any Initial Purchaser or information relating to any Holder furnished to the Company in writing either directly or through J.P. Morgan or any selling Holder, respectively, expressly for use therein. In connection with any Underwritten
Offering permitted by Section 3, the Company and the Guarantors, jointly and severally, will also indemnify the Underwriters, if any, their respective affiliates and each Person who controls such Persons (within the meaning of the Securities
Act and the Exchange Act) to the same extent as provided above with respect to the indemnification of the Holders, if requested in connection with any Registration Statement, any Prospectus, any Free Writing Prospectus or any Issuer Information.

  
 19 

 (b) Each Holder agrees, severally and not jointly, to indemnify and hold harmless the
Company, the Guarantors, the Initial Purchasers and the other selling Holders, their respective affiliates, the directors of the Company and the Guarantors, each officer of the Company and the Guarantors who signed the Registration Statement and
each Person, if any, who controls the Company, the Guarantors, any Initial Purchaser and any other selling Holder within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the indemnity
set forth in paragraph (a) above, but only with respect to any losses, claims, damages or liabilities that arise out of, or are based upon, any untrue statement or omission or alleged untrue statement or omission made in reliance upon and in
conformity with any information relating to such Holder furnished to the Company in writing by or on behalf of such Holder expressly for use in any Registration Statement, any Prospectus or any Free Writing Prospectus. 

(c) If any suit, action, proceeding (including any governmental or regulatory investigation), claim or demand shall be brought or
asserted against any Person in respect of which indemnification may be sought pursuant to either paragraph (a) or (b) above, such Person (the “Indemnified Person”) shall promptly notify the Person against whom such
indemnification may be sought (the “Indemnifying Person”) in writing; provided that the failure to notify the Indemnifying Person shall not relieve it from any liability that it may have under paragraph (a) or
(b) above except to the extent that it has been materially prejudiced (through the forfeiture of substantive rights or defenses) by such failure; and provided, further, that the failure to notify the Indemnifying Person shall not
relieve it from any liability that it may have to an Indemnified Person otherwise than under paragraph (a) or (b) above. If any such proceeding shall be brought or asserted against an Indemnified Person and it shall have notified the
Indemnifying Person thereof, the Indemnifying Person shall retain counsel reasonably satisfactory to the Indemnified Person to represent the Indemnified Person and any others entitled to indemnification pursuant to this Section 5 that the
Indemnifying Person may designate in such proceeding and shall pay the reasonable fees and expenses of such counsel related to such proceeding, as incurred. In any such proceeding, any Indemnified Person shall have the right to retain its own
counsel, but the fees and expenses of such counsel shall be at the expense of such Indemnified Person unless (i) the Indemnifying Person and the Indemnified Person shall have mutually agreed to the contrary; (ii) the Indemnifying Person
has failed within a reasonable time to retain counsel reasonably satisfactory to the Indemnified Person; (iii) the Indemnified Person shall have reasonably concluded that there may be legal defenses available to it that are different from or in
addition to those available to the Indemnifying Person; or (iv) the named parties in any such proceeding (including any impleaded parties) include both the Indemnifying Person and the Indemnified Person and representation of both parties by the
same counsel would be inappropriate due to actual or potential differing interests between them. It is understood and agreed that the Indemnifying Person shall not, in connection with any proceeding or related proceedings in the same jurisdiction,
be liable for the 

  
 20 

 
reasonable fees and expenses of more than one separate firm (in addition to any local counsel) for all Indemnified Persons, and that all such reasonable fees and expenses shall be reimbursed as
they are incurred. Any such separate firm (x) for any Initial Purchaser, its affiliates, directors and officers and any control Persons of such Initial Purchaser shall be designated in writing by J.P. Morgan, (y) for any Holder, its
affiliates, directors and officers and any control Persons of such Holder shall be designated in writing by the Majority Holders and (z) in all other cases shall be designated in writing by the Company. The Indemnifying Person shall not be
liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the Indemnifying Person agrees to indemnify each Indemnified Person from and
against any loss or liability by reason of such settlement or judgment. No Indemnifying Person shall, without the written consent of the Indemnified Person (which consent shall not be unreasonably withheld), effect any settlement of any pending or
threatened proceeding in respect of which any Indemnified Person is or could have been a party and indemnification could have been sought hereunder by such Indemnified Person, unless such settlement (A) includes an unconditional release of such
Indemnified Person, in form and substance reasonably satisfactory to such Indemnified Person, from all liability on claims that are the subject matter of such proceeding and (B) does not include any statement as to or any admission of fault,
culpability or a failure to act by or on behalf of any Indemnified Person. 
 (d) If the indemnification provided for in
paragraphs (a) and (b) above is unavailable to an Indemnified Person or insufficient in respect of any losses, claims, damages or liabilities referred to therein (other than as a result of the limitations imposed on indemnification
described in such sections), then each Indemnifying Person under such paragraph, in lieu of indemnifying such Indemnified Person thereunder, shall contribute to the amount paid or payable by such Indemnified Person as a result of such losses,
claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Company and the Guarantors from the offering of the Securities and the Exchange Securities, on the one hand, and by the
Holders from receiving Securities or Exchange Securities registered under the Securities Act, on the other hand, or (ii) if the allocation provided by clause (i) is not permitted by applicable law, in such proportion as is appropriate to
reflect not only the relative benefits referred to in clause (i) but also the relative fault of the Company and the Guarantors on the one hand and the Holders on the other in connection with the statements or omissions that resulted in such
losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative fault of the Company and the Guarantors on the one hand and the Holders on the other shall be determined by reference to, among other
things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Company and the Guarantors or by the Holders and the parties’ relative
intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. 

  
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 (e) The Company, the Guarantors and the Holders agree that it would not be just and
equitable if contribution pursuant to this Section 5 were determined by pro rata allocation (even if the Holders were treated as one entity for such purpose) or by any other method of allocation that does not take account of the
equitable considerations referred to in paragraph (d) above. The amount paid or payable by an Indemnified Person as a result of the losses, claims, damages and liabilities referred to in paragraph (d) above shall be deemed to include,
subject to the limitations set forth above, any legal or other expenses incurred by such Indemnified Person in connection with any such action or claim. Notwithstanding the provisions of this Section 5, in no event shall a Holder be required to
contribute any amount in excess of the amount by which the total price at which the Securities or Exchange Securities sold by such Holder exceeds the amount of any damages that such Holder has otherwise been required to pay by reason of such untrue
or alleged untrue statement or omission or alleged omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of
such fraudulent misrepresentation. The Holders’ obligations to contribute pursuant to this Section 5 are several and not joint. 
 (f) The remedies provided for in this Section 5 are not exclusive and shall not limit any rights or remedies that may otherwise be available to any Indemnified Person at law or in equity. 

(g) The indemnity and contribution provisions contained in this Section 5 shall remain operative and in full force and effect
regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of the Initial Purchasers or any Holder or any Person controlling any Initial Purchaser or any Holder, or by or on behalf of the Company or
the Guarantors or the officers or directors of or any Person controlling the Company or the Guarantors, (iii) acceptance of any of the Exchange Securities and (iv) any sale of Registrable Securities pursuant to a Shelf Registration
Statement. 
 6. General. 
 (a) No Inconsistent Agreements. The Company and the Guarantors represent, warrant and agree that (i) the rights granted to the Holders hereunder do not in any way conflict with and are not
inconsistent with the rights granted to the holders of any other outstanding securities issued or guaranteed by the Company or any Guarantor under any other agreement and (ii) neither the Company nor any Guarantor has entered into, or on or
after the date of this Agreement will enter into, any agreement that is inconsistent with the rights granted to the Holders of Registrable Securities in this Agreement or otherwise conflicts with the provisions hereof. 

(b) Amendments and Waivers. The provisions of this Agreement, including the provisions of this sentence, may not be amended,
modified or supplemented, and waivers or consents to departures from the provisions hereof 

  
 22 

 
may not be given unless the Company and the Guarantors have obtained the written consent of Holders of at least a majority in aggregate principal amount of the outstanding Registrable Securities
affected by such amendment, modification, supplement, waiver or consent; provided that no amendment, modification, supplement, waiver or consent to any departure from the provisions of Section 5 hereof shall be effective as against any
Holder of Registrable Securities unless consented to in writing by such Holder. Any amendments, modifications, supplements, waivers or consents pursuant to this Section 6(b) shall be by a writing executed by each of the parties hereto.
Notwithstanding the foregoing, a waiver or consent to departure from the provisions hereof that relates exclusively to the rights of Holders whose Securities are being tendered pursuant to the Exchange Offer, and that does not affect directly or
indirectly the rights of other Holders whose Securities are not being tendered pursuant to such Exchange Offer, may be given by the Holders of a majority of the outstanding principal amount of Registrable Securities subject to such Exchange Offer.

 (c) Notices. All notices and other communications provided for or permitted hereunder shall be made in writing by
hand-delivery, registered first-class mail, telecopier, or any courier guaranteeing overnight delivery (i) if to a Holder, at the most current address given by such Holder to the Company by means of a notice given in accordance with the
provisions of this Section 6(c), which address initially is, with respect to the Initial Purchasers, the address set forth in the Purchase Agreement and with respect to each other Holder, the address set forth in the records of the Trustee
under the Indenture; (ii) if to the Company and the Guarantors, initially at the Company’s address set forth in the Purchase Agreement and thereafter at such other address, notice of which is given in accordance with the provisions of this
Section 6(c); and (iii) to such other persons at their respective addresses as provided in the Purchase Agreement and thereafter at such other address, notice of which is given in accordance with the provisions of this Section 6(c).
All such notices and communications shall be deemed to have been duly given: at the time delivered by hand, if personally delivered; five Business Days after being deposited in the mail, postage prepaid, if mailed; when receipt is acknowledged, if
telecopied; and on the next Business Day if timely delivered to an air courier guaranteeing overnight delivery. Copies of all such notices, demands or other communications shall be concurrently delivered by the Person giving the same to the Trustee,
at the address specified in the Indenture. 
 (d) Successors and Assigns. This Agreement shall inure to the benefit of
and be binding upon the successors, assigns and transferees of each of the parties, including, without limitation and without the need for an express assignment, subsequent Holders; provided that nothing herein shall be deemed to permit any
assignment, transfer or other disposition of Registrable Securities in violation of the terms of the Purchase Agreement or the Indenture. If any transferee of any Holder shall acquire Registrable Securities in any manner, whether by operation of law
or otherwise, such Registrable Securities shall be held subject to all the terms of this Agreement, and by taking and holding such 

  
 23 

 
Registrable Securities such Person shall be conclusively deemed to have agreed to be bound by and to perform all of the terms and provisions of this Agreement and such Person shall be entitled to
receive the benefits hereof. The Initial Purchasers (in their capacity as Initial Purchasers) shall have no liability or obligation to the Company or the Guarantors with respect to any failure by a Holder (other than such Initial Purchasers) to
comply with, or any breach by any Holder of, any of the obligations of such Holder under this Agreement. 
 (e) Third Party
Beneficiaries. Each Holder shall be a third party beneficiary to the agreements made hereunder between the Company and the Guarantors, on the one hand, and the Initial Purchasers, on the other hand, and shall have the right to enforce such
agreements directly to the extent it deems such enforcement necessary or advisable to protect its rights or the rights of other Holders hereunder. 
 (f) Counterparts. This Agreement may be executed in any number of counterparts and by the parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original
and all of which taken together shall constitute one and the same agreement. 
 (g) Headings. The headings in this
Agreement are for convenience of reference only, are not a part of this Agreement and shall not limit or otherwise affect the meaning hereof. 
 (h) Governing Law. This Agreement, and any claim, controversy or dispute arising under or related to this Agreement, shall be governed by and construed in accordance with the laws of the State of
New York. 
 (j) Entire Agreement; Severability. This Agreement contains the entire agreement between the parties
relating to the subject matter hereof and supersedes all oral statements and prior writings with respect thereto. If any term, provision, covenant or restriction contained in this Agreement is held by a court of competent jurisdiction to be invalid,
void or unenforceable or against public policy, the remainder of the terms, provisions, covenants and restrictions contained herein shall remain in full force and effect and shall in no way be affected, impaired or invalidated. The Company, the
Guarantors and the Initial Purchasers shall endeavor in good faith negotiations to replace the invalid, void or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid, void or
unenforceable provisions. 
 [Signature Pages Follow] 

  
 24 

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

			
	DUNKIN’ FINANCE CORP.
		
	By	 	 /s/ Anita Balaji

	Name: Anita Balaji
	Title: Chief Executive Officer and President
	
	DUNKIN’ BRANDS, INC.
		
	By	 	 /s/ Bonnie Monahan

	Name: Bonnie Monahan
	Title: Vice President and Treasurer

  

[Registration Rights Agreement] 

 Confirmed and accepted as of the date first above written: 

J.P. MORGAN SECURITIES LLC 
 For itself and on
behalf of the 
 several Initial Purchasers 
  

			
	By	 	 /s/ David A. Dwyer

	Name: David A. Dwyer
	Title: Executive Director

  

[Registration Rights Agreement] 

 Exhibit 1 
 List of Guarantors 
  

			
	 Name
	  	 Jurisdiction of Organization

	Baskin-Robbins Flavors LLC	  	DE
	Baskin-Robbins Franchised Shops LLC	  	DE
	Baskin-Robbins Franchising LLC	  	DE
	Baskin-Robbins International LLC	  	DE
	Baskin-Robbins LLC	  	DE
	Baskin-Robbins USA LLC	  	CA
	BR IP Holder LLC	  	DE
	BR Japan Holdings LLC	  	DE
	DB Canadian Supplier Inc.	  	DE
	DB Canadian Holding Company Inc.	  	DE
	DB Franchising Holding Company LLC	  	DE
	DB International Franchising LLC	  	DE
	DB Master Finance LLC	  	DE
	DB Mexican Franchising LLC	  	DE
	DB Real Estate Assets I LLC	  	DE
	DB Real Estate Assets II LLC	  	DE
	DB UK Franchising LLC	  	DE
	DBI Stores LLC	  	DE
	DD IP Holder LLC	  	DE
	Dunkin’ Donuts Franchised Restaurants LLC	  	DE
	Dunkin’ Donuts Franchising LLC	  	DE
	Dunkin’ Donuts LLC	  	DE
	Dunkin’ Donuts Realty Investment LLC	  	DE
	Dunkin’ Donuts USA LLC	  	DE
	Dunkin’ Ventures LLC	  	DE
	Mister Donut of America LLC	  	DE
	Third Dunkin’ Donuts Realty LLC	  	DE

  

[Registration Rights Agreement] 

 Annex A 
 Counterpart to Registration Rights Agreement 
 The undersigned hereby
absolutely, unconditionally and irrevocably agrees as a Guarantor (as defined in the Registration Rights Agreement, dated November [—], 2010 by and among Dunkin’ Finance Corp., a Delaware
corporation, Dunkin’ Brands, Inc., a Delaware Corporation, and J.P. Morgan Securities LLC, on behalf of itself and the other Initial Purchasers) to be bound by the terms and provisions of such Registration Rights Agreement. 

IN WITNESS WHEREOF, the undersigned has executed this counterpart as of
                    , 201    . 

 

			
	[GUARANTOR]
		
	By	 	  

	Name:
	Title:

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