Document:

ex_261726.htm

 

 

Exhibit 10.1

 

AMENDMENT TO LEASE

 

THIS AMENDMENT TO LEASE (“Amendment”) is made and entered into as of the 30th day of June, 2021 (the “Effective Date”) by and between K & K Unlimited, a New York limited liability company (“Landlord”) and Cables Unlimited, Inc. a New York corporation (“Tenant”) based on the following facts.

 

A.         Landlord and Tenant entered into that certain Single Tenant Commercial Lease dated as of June 15, 2011, as amended in April 2016 and June 2017 (collectively, the “Original Lease”), whereby Tenant leased certain real property located at 3 Old Dock Road, Yaphank, New York 11980, as more particularly described in the Original Lease (the “Premises”) from Landlord. The Original Lease, as amended by this Amendment, is referred to herein as the “Lease.”

 

B.         By this Amendment, Landlord and Tenant desire to extend the Term of the Lease and to otherwise modify the Original Lease as provided herein.

 

C.         Unless otherwise defined herein, capitalized terms as used herein shall have the same meanings as given thereto in the Original Lease.

 

NOW, THEREFORE, the parties hereto agree as follows:

 

1. Extended Lease Term. The Term of the Lease shall be extended for three years such that the Lease shall terminate on June 30, 2024, and all references in the Lease to the “Term” or words of similar import shall mean the period through June 30, 2024, and all references in the Lease to the “Termination Date” or words of similar import shall mean June 30, 2024.

 

2. Option to Extend. The three year extension of the Term described in this Amendment does not constitute the exercise of an Option to Extend as set forth in Paragraph 21.12 of the Lease, which Option remains in full force and effect on the terms set forth in the Lease, except that all references to the “original Termination Date” are revised to mean the Termination Date as extended by this Amendment.

 

3. Lease Terms. Commencing on July 1, 2021, and continuing through June 30, 2024, the Base Rent shall be $15,000 a month. Except as set forth in this Amendment, all of the terms and provisions of the Lease shall apply during the Term as extended by this Amendment and shall remain unmodified and in full force and effect. In the event of a conflict between the terms and provisions of the Lease and the terms and provisions of this Amendment, the terms and provisions of this Amendment shall control.

 

4. Counterparts and Fax/Email Signatures This Amendment may be executed in counterparts, each of which shall be deemed an original, but such counterparts, when taken together, shall constitute one agreement. This Amendment may be executed by a party’s signature transmitted by facsimile (“fax”) or email, and copies of this Amendment executed and delivered by means of faxed or emailed signatures shall have the same force and effect as copies hereof executed and delivered with original signatures. Any party executing and delivering this Amendment by fax or email shall promptly thereafter deliver a counterpart signature page of this Amendment containing said party’s original signature, if so requested by the other party.

 

[SIGNATURE PAGE FOLLOWS]

 

1

 

 

Executed as of the date first above written.

 

	 	LANDLORD:	 
	 	 	 	 
	 	K&K Unlimited, a New York limited liability company	 
	 	 	 	 
	 	By:	/s/D. Clark	 
	 	 	Print Name: Darren Clark	 
	 	 	Title: Management Member	 
	 	 	 	 
	 	TENANT:	 
	 	 	 	 
	 	Cables Unlimited, Inc., a New York corporation	 
	 	 	 	 
	 	By:	/s/D. Clark	 
	 	 	Print Name: Darren Clark	 
	 	 	Title: President	 
	 	 	 	 
	 	 	 	 
	 	 	
			With a copy to:

				 
	 	 	 	 
	 	 	RF Industries, Ltd.	 

 

2EX-10.1

 Exhibit 10.1 
  

 
  

AMENDED AND RESTATED STOCKHOLDERS AGREEMENT 

BY AND AMONG 

MISTER CAR WASH, INC. 

AND 

THE INITIAL STOCKHOLDERS 

JUNE 29, 2021
  

 
  

 TABLE OF CONTENTS 

 
  

							
	 	 	 	  	Page	 
	 SECTION I.
	 	 DEFINITIONS
	  	 	1	 
	 1.1
	 	Drafting Conventions; No Construction Against Drafter	  	 	1	 
	 1.2
	 	Defined Terms	  	 	2	 
			
	 SECTION II.
	 	 REPRESENTATIONS AND WARRANTIES
	  	 	4	 
	 2.1
	 	Representations and Warranties of the Initial Stockholder	  	 	4	 
	 2.2
	 	Representations and Warranties of the Company	  	 	4	 
			
	 SECTION III.
	 	 REGISTRATION RIGHTS
	  	 	4	 
	 3.1
	 	Demand and Piggyback Rights	  	 	4	 
	 3.2
	 	Notices, Cutbacks and Other Matters	  	 	6	 
	 3.3
	 	Facilitating Registrations and Offerings	  	 	8	 
	 3.4
	 	Indemnification	  	 	12	 
	 3.5
	 	Rule 144	  	 	14	 
			
	 SECTION IV.
	 	 CORPORATE GOVERNANCE
	  	 	14	 
	 4.1
	 	Board of Directors	  	 	14	 
	 4.2
	 	Agreement of Company	  	 	16	 
			
	 SECTION V.
	 	 MISCELLANEOUS PROVISIONS
	  	 	16	 
	 5.1
	 	Access Rights	  	 	16	 
	 5.2
	 	Confidentiality	  	 	17	 
	 5.3
	 	Reliance	  	 	17	 
	 5.4
	 	Access to Agreement; Amendment and Waiver; Actions of the Board	  	 	17	 
	 5.5
	 	Notices	  	 	17	 
	 5.6
	 	Counterparts	  	 	18	 
	 5.7
	 	Remedies; Severability	  	 	19	 
	 5.8
	 	Entire Agreement	  	 	19	 
	 5.9
	 	Termination	  	 	19	 
	 5.10
	 	Governing Law	  	 	19	 
	 5.11
	 	Successors and Assigns; Beneficiaries	  	 	19	 
	 5.12
	 	Consent to Jurisdiction; Specific Performance; WAIVER OF JURY TRIAL	  	 	19	 
	 5.13
	 	Further Assurances; Company Logo	  	 	20	 
	 5.14
	 	Regulatory Matters	  	 	20	 
	 5.15
	 	No Third Party Liability	  	 	20	 
	 5.16
	 	Effectiveness of Agreement	  	 	21	 
	 5.17
	 	Removal of Legends	  	 	21	 
	 5.18
	 	Inconsistent Agreements	  	 	21	 

 EXHIBIT 
 Exhibit
A: Form of Joinder Agreement 
  

  
 i 

 STOCKHOLDERS AGREEMENT 

This Amended and Restated Stockholders Agreement (this “Agreement”) is entered into as of June 29, 2021 by and among
(a) Mister Car Wash, Inc., a Delaware corporation (the “Company”), (b) Green Equity Investors VI, L.P., Green Equity Investors Side VI, L.P., LGP Associates VI-A LLC and LGP Associates VI-B LLC (collectively, “LGP”), (c) Crescent Mezzanine Partners VI, L.P, Crescent Mezzanine Partners VIB, L.P., Crescent Mezzanine Partners VIC, L.P., (collectively, “Crescent”),
(d) Penfund Capital Fund IV Limited Partnership (“Penfund”) and (e) each of the individual stockholders who are set forth on the signature pages hereto (each individually, a “Management Stockholder,”
collectively, the “Management Stockholders”). 
 RECITALS 

A. The original Stockholders Agreement of the Company, dated August 21, 2014 (the “Original Agreement”), was entered
into in connection with the Reorganization (as defined in the Original Agreement); 
 B. The Company is proposing to consummate an initial
public offering (the “Initial Public Offering”) of its common stock, par value $0.01 per share (the “Common Stock”), pursuant to an Underwriting Agreement, dated June 24, 2021 (the “Underwriting
Agreement”). 
 C. The Initial Stockholders (as defined herein) and the Company desire to enter into this Agreement effective upon
the Effective Time (as defined herein). 
 D. The Board of Directors of the Company (the “Board of Directors”) has approved
this Agreement. 
 E. The parties to this Agreement desire to agree upon the respective rights and obligations after the Effective Time with
respect to the securities of the Company now or hereafter issued and outstanding and held by the parties to this Agreement and certain matters with respect to their investment in the Company. 

AGREEMENT 
 Now therefore,
in consideration of the foregoing, and the mutual agreements and covenants contained herein, the receipt and sufficiency of which are hereby acknowledged, the parties to this Agreement agree as follows: 

SECTION I. DEFINITIONS 
 1.1 Drafting
Conventions; No Construction Against Drafter. 
 (a) The headings in this Agreement are provided for convenience and do not affect its
meaning. The words “include,” “includes” and “including” are to be read as if they were followed by the phrase “without limitation.” Unless specified otherwise, any reference to an agreement means that
agreement as amended or supplemented, subject to any restrictions on amendment contained in such agreement. Unless specified otherwise, any reference to a statute or regulation means that statute or regulation as amended or supplemented from time to
time and any corresponding provisions of successor statutes or regulations. If any date specified in this Agreement as a date for taking action falls on a day that is not a business day, then that action may be taken on the next business day. Unless
specified otherwise, the words “party” and “parties” refer only to a party named in this Agreement or one who joins this Agreement as a party pursuant to the terms hereof. 

  
 1 

 (b) The language used in this Agreement shall be deemed to be the language chosen by the
parties to express their mutual intent. If an ambiguity or question of intent or interpretation arises, this Agreement is to be construed as if drafted jointly by the parties and there is to be no presumption or burden of proof or rule of strict
construction favoring or disfavoring any party because of the authorship of any provision of this Agreement. 
 1.2 Defined Terms.
The following capitalized terms, as used in this Agreement, have the meanings set forth below. 
 “Affiliate” means with
respect to any specified Person, any other Person which, directly or indirectly, controls, is controlled by or is under common control with the specified Person, including any partner, officer, director or member of the specified Person and, if the
specified Person is a private equity fund, any investment fund now or hereafter managed by, or which is controlled by or is under common control with, one or more general partners of the specified Person. For the purposes of this definition,
“control” (including, with its correlative meanings, the terms “controlled by” and “under common control with”), as used with respect to any Person, shall mean the possession, directly or indirectly, of the power to
direct, or cause the direction of the management and policies of such Person, whether through the ownership of securities, by contract or otherwise. 

“Board of Directors” has the meaning set forth in the recitals. 

“Closing” means the closing of the Initial Public Offering. 

“Common Stock” has the meaning set forth in the recitals. 

“Company” has the meaning set forth in the preamble and shall include any successor thereto. 

“Crescent” has the meaning set forth in the preamble. 

“Director” means a member of the Board of Directors. 

“Effective Time” has the meaning set forth in Section 5.16. 

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

“Initial Public Offering” has the meaning set forth in the recitals. 

“Initial Stockholders” means, collectively, LGP, Crescent, Penfund and the Management Stockholders. 

“Joinder Agreement” means the joinder agreement substantially in the form of Exhibit A.  

“LGP” has the meaning set forth in the preamble. 

“LGP Director” has the meaning set forth in Section 4.1(a). 

“LGP Stockholders” means (i) LGP and any other investment funds affiliated with or advised by Leonard Green &
Partners, L.P. and (ii) any Permitted Transferee or Affiliate of LGP (x) which is issued Common Stock or becomes the beneficial owner of any Common Stock or is Transferred any Common Stock by any other Person and (y) which becomes a
party hereto by executing a Joinder Agreement. 

  
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 “LGP Stockholders’ Designee” has the meaning set forth in
Section 4.1(b). 
 “LGP Majority Interest” means, at any given time, the LGP Stockholders holding a majority of the
outstanding Shares held at that specified time by all LGP Stockholders. 
 “Management Stockholders” has the meaning set
forth in the preamble. 
 “Necessary Action” means, with respect to a specified result, all commercially reasonable actions
required to cause such result that are within the power of a specified Person, including (i) voting or providing a written consent or proxy with respect to the Company Shares, (ii) causing the adoption of stockholders’ resolutions and
amendments to the organizational documents of the Company, (iii) executing agreements and instruments, (iv) making, or causing to be made, with governmental, administrative or regulatory authorities, all filings, registrations or similar
actions that are required to achieve such result and (v) causing members of the Board of Directors, subject to any fiduciary duties that such members may have as directors of the Company (including pursuant to Section 4.1(d)), to act in a
certain manner, including causing members of the Board of Directors or any nominating or similar committee of the Board of Directors to recommend the appointment of any LGP Stockholders’ Designees as provided by this Agreement. 

“Nominating Committee” has the meaning set forth in Section 4.1(c). 

“Original Agreement” has the meaning set forth in the recitals. 

“Penfund” has the meaning set forth in the preamble. 

“Permitted Transferee” means, with respect to any Stockholder, (i) any Affiliate of such Stockholder, (ii) any
director, officer or employee of any Affiliate of such Stockholder, (iii) any direct or indirect member or general or limited partner of such Stockholder that is the transferee of Shares pursuant to a pro rata distribution of Shares by such
Stockholder to its partners or members, as applicable (or any subsequent transfer of such Shares by the transferee to another Permitted Transferee), (iv) upon a Management Stockholder’s death, the Management Stockholder’s executors,
administrators, testamentary trustees, legatees and beneficiaries, or (v) any other Transferee designated as a Permitted Transferee by the LGP Majority Interest. 

“Person” means an individual, corporation, partnership, limited liability company, joint venture, association, trust,
unincorporated organization, government (or agency or political subdivision thereof) or any other entity or group (as defined in Section 13(d) of the Exchange Act). 

“SEC” means the Securities and Exchange Commission. 

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

“Shares” means, at any time, (i) shares of Common Stock and (ii) any other equity securities now or hereafter
issued by the Company, together with any options thereon and any other shares of stock or other equity securities issued or issuable with respect thereto (whether by way of a stock dividend, stock split or in exchange for or in replacement or upon
conversion of such shares or otherwise in connection with a combination of shares, recapitalization, merger, consolidation or other corporate reorganization). 

  
 3 

 “Stockholders” means the Initial Stockholders and any other stockholders
who from time to time become party to this Agreement by execution of a Joinder Agreement. 
 “Transfer” means any direct or
indirect transfer, donation, sale, assignment, pledge, hypothecation, grant of a security interest in or other disposal or attempted disposal of all or any portion of a security, any interest or rights in a security, or any rights under this
Agreement. 
 “Transferee” means the recipient of a Transfer. 

“Underwriting Agreement” has the meaning set forth in the recitals. 

“WKSI” means a well-known seasoned issuer, as defined in Rule 405 under the Securities Act. 

SECTION II. REPRESENTATIONS AND WARRANTIES 

2.1 Representations and Warranties of the Initial Stockholders. Each Initial Stockholder has the power and authority to enter
into this Agreement and carry out its obligations hereunder. Each of the Initial Stockholders hereby represents, warrants and covenants to the Company as follows: (a) if such Initial Stockholder is an entity, this Agreement has been duly
authorized, executed and delivered by such Stockholder; (b) this Agreement constitutes the valid and binding obligation of such Initial Stockholder enforceable against it in accordance with its terms; and (c) if such Initial Stockholder is
an entity, the execution, delivery and performance by such Initial Stockholder of this Agreement: (i) does not and will not violate any laws, rules or regulations of the United States or any state or other jurisdiction applicable to such
Initial Stockholder, or require such Initial Stockholder to obtain any approval, consent or waiver of, or to make any filing with, any Person that has not been obtained or made; and (ii) does not constitute a breach of or default under any
material agreement to which such Initial Stockholder is a party. If such Initial Stockholder is a natural person, such person has full capacity to contract. 

2.2 Representations and Warranties of the Company. The Company hereby represents, warrants and covenants to the Stockholders as
follows: (a) the Company has full corporate power and authority to enter into this Agreement and perform its obligations hereunder; (b) this Agreement constitutes the valid and binding obligation of the Company enforceable against it in
accordance with its terms; and (c) the execution, delivery and performance by the Company of this Agreement: (i) does not and will not violate any laws, rules or regulations of the United States or any state or other jurisdiction
applicable to the Company, or require the Company to obtain any approval, consent or waiver of, or to make any filing with, any Person that has not been obtained or made; and (ii) does not and will not result in a breach of, constitute a
default under, accelerate any obligation under or give rise to a right of termination of any indenture or loan or credit agreement or any other material agreement, contract, instrument, mortgage, lien, lease, permit, authorization, order, writ,
judgment, injunction, decree, determination or arbitration award to which the Company is a party or by which the property of the Company is bound or affected, or result in the creation or imposition of any mortgage, pledge, lien, security interest
or other charge or encumbrance on any of the assets or properties of the Company. 
 SECTION III. REGISTRATION RIGHTS 

3.1 Demand and Piggyback Rights. 

(a) Right to Demand a Registered Offering. Upon the demand of one or more LGP Stockholders, the Company will facilitate in the manner
described in this Agreement a registered offering of the Shares requested by the demanding LGP Stockholders to be included in such offering. A demand by LGP Stockholders for a registered offering that will result in the imposition of a lockup on the
Company 

  
 4 

 
and the Stockholders may not be made unless the Shares requested to be sold by the demanding LGP Stockholders in such offering have an aggregate market value (based on the most recent closing
price of the Common Stock at the time of the demand) of at least $100 million or such lesser amount if all Shares held by the demanding LGP Stockholders are requested to be sold. Subject to Section 3.2(e) below, any demanded registered
offering may, at the Company’s option, include Shares to be sold by the Company for its own account and will also include Shares to be sold by other Stockholders or other holders of Shares with similar rights that exercise their related
piggyback rights on a timely basis. 
 (b) Right to Piggyback on a Non-Shelf Registered
Offering. In connection with any registered offering of Common Stock covered by a non-shelf registration statement (whether pursuant to the exercise of demand rights or at the initiative of the Company),
the Stockholders may exercise piggyback rights to have included in such offering Shares held by them. The Company will facilitate in the manner described in this Agreement any such non-shelf registered
offering. 
 (c) Right to Demand and be Included in a Shelf Registration. Upon the demand of one or more LGP Stockholders, the
Company will facilitate in the manner described in this Agreement a shelf registration of Shares held by them. Any shelf registration filed by the Company covering Shares (whether pursuant to a LGP Stockholder demand or at the initiative of the
Company) will cover Shares held by each of the Stockholders (regardless of whether they demanded the filing of such shelf or not) up to an equivalent percentage of their original respective holdings as may be agreed upon by the demanding LGP
Stockholders. If at the time of such request the Company is a WKSI, such shelf registration may, at the request of such LGP Stockholders, cover an unspecified number of Shares to be sold by the Company and the Stockholders. 

(d) Demand and Piggyback Rights for Shelf Takedowns. Upon the demand of one or more LGP Stockholders made at any time and from time to
time, the Company will facilitate in the manner described in this Agreement a “takedown” of Shares off of an effective shelf registration statement. In connection with any underwritten shelf takedown (whether pursuant to the exercise of
such demand rights or at the initiative of the Company), the Stockholders may exercise piggyback rights to have included in such takedown Shares held by them that are registered on such shelf. Notwithstanding the foregoing, LGP Stockholders may not
demand a shelf takedown for an offering that will result in the imposition of a lockup on the Company and the Stockholders unless the Shares requested to be sold by the demanding Stockholders in such takedown have an aggregate market value (based on
the most recent closing price of the Common Stock at the time of the demand) of at least $100 million or such lesser amount if all Shares held by the demanding LGP Stockholders are requested to be sold. 

(e) Right to Reload a Shelf. Upon the written request of an LGP Stockholder at such time when the Company is not a WKSI, the Company
will file and seek the effectiveness of a post-effective amendment to an existing shelf registration statement in order to register up to the number of Shares previously taken down off of such shelf and not yet “reloaded” onto such shelf
registration statement. 
 (f) Limitations on Demand and Piggyback Rights. 

(i) Any demand for the filing of a registration statement or for a registered offering or takedown will be subject to the
constraints of any applicable lockup arrangements, and such demand must be deferred until such lockup arrangements no longer apply. If a demand has been made for a non-shelf registered offering or for an
underwritten takedown, no further demands may be made so long as the related offering is still being pursued. Notwithstanding anything in this Agreement to the contrary, the Stockholders will not have piggyback or other registration rights with
respect to registered primary offerings by the Company (i) in connection with registrations on Form S-4 or Form S-8 promulgated by the SEC or any successor or
similar forms, (ii) where the Shares are not being sold for cash or (iii) where the offering is a bona fide offering of securities other than Shares, even if such securities are convertible into or exchangeable or exercisable for Shares.

  
 5 

 (ii) The Stockholders shall not be permitted to sell any securities pursuant
to Section 3.1 at any time that the Board of Directors determines in good faith that it would be materially detrimental to the Company or its stockholders for sales of securities to be made; provided that all Stockholders shall be treated
consistently in connection with each such determination; and provided further, that the Company shall promptly notify each Stockholder in writing of any such action and provided further, that any such delay may not last more than sixty
(60) days and such delays may not be in effect more than one hundred and twenty (120) days during any three hundred and sixty-five (365) day period. 

3.2 Notices, Cutbacks and Other Matters. 

(a) Notifications Regarding Registration Statements. In order for one or more LGP Stockholders to exercise their right to demand that a
registration statement be filed, they must so notify the Company in writing indicating the number of Shares sought to be registered and the proposed plan of distribution. The Company will use its best efforts to keep the Stockholders reasonably
apprised of all pertinent aspects of its pursuit of any registration, whether pursuant to a LGP Stockholder demand or otherwise, with respect to which a piggyback opportunity is available (and in any event, at least five (5) days before a
filing of a registration statement). Pending any required public disclosure and subject to applicable legal requirements, the parties will maintain the confidentiality of these discussions. 

(b) Notifications Regarding Registration Piggyback Rights. Any Stockholder wishing to exercise its piggyback rights with respect to a non-shelf registration statement must notify the Company and the other Stockholders of the number of Shares it seeks to have included in such registration statement. Such notice must be given as soon as practicable,
but in no event later than 5:00 pm, New York City time, on the second trading day prior to (i) if applicable, the date on which the preliminary prospectus intended to be used in connection with
pre-effective marketing efforts for the relevant offering is expected to be finalized, and (ii) in any case, the date on which the pricing of the relevant offering is expected to occur. No such notice is
required in connection with a shelf registration statement, as Shares held by all Stockholders will be included up to the applicable percentage. 

(c) Notifications Regarding Demanded Underwritten Takedowns. 

(i) The Company will use its best efforts to keep the Stockholders reasonably apprised of all pertinent aspects of any
underwritten shelf takedown in order that they may have a reasonable opportunity to exercise their related piggyback rights (and in any event, at least five (5) days before a filing of a prospectus supplement). Without limiting the
Company’s obligation as described in the preceding sentence, having a reasonable opportunity requires that the Stockholders be notified by the Company of an anticipated underwritten takedown (whether pursuant to a demand made by the LGP
Stockholders or made at the Company’s own initiative) no later than 5:00 pm, New York City time, on (i) if applicable, the second trading day prior to the date on which the preliminary prospectus or prospectus supplement intended to be
used in connection with pre-pricing marketing efforts for such takedown is finalized, and (ii) in all cases, the second trading day prior to the date on which the pricing of the relevant takedown occurs.

  
 6 

 (ii) Any Stockholder wishing to exercise its piggyback rights with respect
to an underwritten shelf takedown must notify the Company and the other Stockholders of the number of Shares it seeks to have included in such takedown. Such notice must be given as soon as practicable, but in no event later than 5:00 pm, New York
City time, on (i) if applicable, the trading day prior to the date on which the preliminary prospectus or prospectus supplement intended to be used in connection with marketing efforts for the relevant offering is expected to be finalized, and
(ii) in all cases, the trading day prior to the date on which the pricing of the relevant takedown occurs. 
 (iii)
Pending any required public disclosure and subject to applicable legal requirements, the parties will maintain appropriate confidentiality of their discussions regarding a prospective underwritten takedown. 

(d) Plan of Distribution, Underwriters and Counsel. If (i) a majority of the Shares proposed to be sold in an underwritten
offering through a non-shelf registration statement or through a shelf takedown are being sold by the Company for its own account and (ii) such offering was initiated by the Company and not by any LGP
Stockholder, the Company will be entitled to determine the plan of distribution and select the managing underwriters for such offering. Otherwise, the Stockholders holding a majority of the Shares requested to be included in such offering will be
entitled to determine the plan of distribution and select the managing underwriters, and such majority will also be entitled to select counsel for the selling Stockholders (which may be the same as counsel for the Company). In the case of a shelf
registration statement, the plan of distribution will provide as much flexibility as is reasonably possible, including with respect to resales by transferee Stockholders. 

(e) Cutbacks. If the managing underwriters advise the Company and the selling Stockholders that, in their opinion, the number of Shares
requested to be included in an underwritten offering exceeds the amount that can be sold in such offering without adversely affecting the distribution of the Shares being offered, such offering will include only the number of Shares that the
underwriters advise can be sold in such offering. 
 (i) In the case of a registered offering upon the demand of one or more
LGP Stockholders, the selling Stockholders (including those Stockholders exercising piggyback rights pursuant to Section 3.1(b)) collectively will have first priority and will be subject to cutback pro rata based on the number of Shares
initially requested by them to be included in such offering. To the extent of any remaining capacity, all other stockholders having similar registration rights will have second priority and will be subject to cutback pro rata based on the number of
Shares initially requested by them to be included in such offering. To the extent of any remaining capacity, the Company will have third priority. Except as contemplated by the immediately preceding three sentences, other selling stockholders (other
than transferees to whom a Stockholder has assigned its rights under this Agreement) will be included in an underwritten offering only with the consent of Stockholders holding a majority of the Shares being sold in such offering. 

(ii) In the case of a registered offering upon the initiative of the Company, the Company will have first priority. To the
extent of any remaining capacity, the selling Stockholders as a group, on the one hand, and all other stockholders having similar registration rights as a group, on the other hand, will be subject to cutback pro rata based on the number of Shares
initially requested by such group to be included in such offering. The selling Stockholders will be subject to cutback pro rata, based on the number of Shares initially requested by them to be included in such offering. Except as contemplated by the
immediately preceding sentence, other stockholders (other than transferees to whom a Stockholder has assigned its rights under this Agreement) will be included in an underwritten offering only with the consent of a LGP Majority Interest. 

(f) Withdrawals. Even if Shares held by a LGP Stockholder have been part of a registered underwritten offering, such LGP Stockholder
may, no later than the time at which the public offering price and underwriters’ discount are determined with the managing underwriter, decline to sell all or any portion of the Shares being offered for its account. 

  
 7 

 (g) Lockups. In connection with any underwritten offering of Shares following the
Initial Public Offering, the Company and each participating Stockholder hereby agree to be bound by the underwriting agreement’s lockup restrictions (which must apply, and continue to apply, in like manner to all of them) that are agreed to
(a) by the Company, if a majority of the Shares being sold in such offering are being sold for its account or (b) by LGP Stockholders holding a majority of Shares being sold by all LGP Stockholders, if a majority of the Shares being sold
in such offering are being sold by LGP Stockholders, as applicable; provided, however, that in no event following the Initial Public Offering shall such lockup restrictions last more than 90 days. 

(h) Expenses. All expenses incurred in connection with any registration statement or registered offering covering Shares held by
Stockholders, including, without limitation, all registration and filing fees, printing expenses, fees and disbursements of counsel (provided that the Company shall only be responsible for the fees and disbursements of one outside counsel for all of
the Stockholders) and of the independent certified public accountants, and the expense of qualifying such Shares under state blue sky laws, will be borne by the Company. However, underwriters’, brokers’ and dealers’ discounts and
commissions applicable to Shares sold for the account of a Stockholder will be borne by such Stockholder. 
 (i) Coordination of
Sales of Common Stock. From the Initial Public Offering until the twelve month anniversary of the consummation of the Initial Public Offering, neither Crescent nor Penfund will Transfer (including pursuant to Rule 144 under the Securities
Act) any Shares other than (i) pursuant to the exercise of piggyback rights under Section 3.1 and (ii) to Permitted Transferees. If the LGP Stockholders Transfer any Shares prior to the twelve month anniversary of the consummation of
the Initial Public Offering other than (i) pursuant to Section 3.1, (ii) to Permitted Transferees and (iii) as a pledge or grant of a security interest in any or all of its Shares to a lender or lenders (or any collateral agent or
trustee acting therefor) to secure loans made to such Stockholder or any of its Affiliates or a Transfer of such Shares to any such lender or lenders (or any such agent or trustee), as pledgee, as a result of a foreclosure of such pledge or security
interest, the LGP Stockholders will offer Crescent and Penfund the opportunity to piggyback on such Transfer as if such Transfer was a “takedown” of Shares off of an effective shelf registration statement pursuant to Section 3.1(d).

 3.3 Facilitating Registrations and Offerings. 

(a) General. If the Company becomes obligated under this Agreement to facilitate a registration and offering of Shares on behalf of the
Stockholders, the Company will do so with the same degree of care and dispatch as would reasonably be expected in the case of a registration and offering by the Company of Shares for its own account. Without limiting this general obligation, the
Company will fulfill its specific obligations as described in this Section 3.3. 
 (b) Registration Statements. In connection
with each registration statement that is demanded by the LGP Stockholders or as to which piggyback rights otherwise apply, the Company will: 

(i) prepare and file (or confidentially submit) with the SEC a registration statement covering the applicable Shares,
(ii) prepare and file (or confidentially submit) such amendments or supplements to such registration statement and the prospectus used in connection therewith as may be necessary to keep such registration statement effective for a period ending
when all of the securities covered by such registration statement have been disposed of in accordance with the intended methods of distribution by the sellers thereof set forth in such registration statement (but not in any event before the
expiration of any longer period required 

  
 8 

 
under the Securities Act or, if such registration statement relates to an underwritten public offering, such longer period as in the opinion of counsel for the underwriters a prospectus is
required by law to be delivered in connection with the sale of Shares by an underwriter or dealer), (iii) seek the effectiveness thereof, and (iv) file with the SEC prospectuses and prospectus supplements as may be required, all in consultation
with the LGP Stockholders and as reasonably necessary in order to permit the offer and sale of the such Shares in accordance with the applicable plan of distribution; 

(ii) (1) within a reasonable time prior to the filing of any registration statement, any prospectus, any amendment to a registration
statement, amendment or supplement to a prospectus or any free writing prospectus, provide copies of such documents to the selling Stockholders and to the underwriter or underwriters of an underwritten offering, if applicable, and to their
respective counsel; fairly consider such reasonable changes in any such documents prior to or after the filing thereof as the counsel to the Stockholders or the underwriter or the underwriters may request; and make such of the representatives of the
Company as shall be reasonably requested by the selling Stockholders or any underwriter available for discussion of such documents; 
 (2)
within a reasonable time prior to the filing of any document which is to be incorporated by reference into a registration statement or a prospectus, provide copies of such document to counsel for the Stockholders and underwriters; fairly consider
such reasonable changes in such document prior to or after the filing thereof as counsel for such Stockholders or such underwriter shall request; and make such of the representatives of the Company as shall be reasonably requested by such counsel
available for discussion of such document; 
 (iii) cause each registration statement and the related prospectus and any
amendment or supplement thereto, as of the effective date of such registration statement, amendment or supplement and during the distribution of the registered Shares (x) to comply in all material respects with the requirements of the
Securities Act and the rules and regulations of the SEC and (y) not to contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading;

 (iv) notify each Stockholder promptly, and, if requested by such Stockholder, confirm such advice in writing,
(i) when a registration statement has become effective and when any post-effective amendments and supplements thereto become effective if such registration statement or post-effective amendment is not automatically effective upon filing
pursuant to Rule 462 under the Securities Act, (ii) of the issuance by the SEC or any state securities authority of any stop order, injunction or other order or requirement suspending the effectiveness of a registration statement or the
initiation or threatening of any proceedings for that purpose, (iii) if, between the effective date of a registration statement and the closing of any sale of securities covered thereby pursuant to any agreement to which the Company is a party,
the representations and warranties of the Company contained in such agreement cease to be true and correct in all material respects or if the Company receives any notification with respect to the suspension of the qualification of the Shares for
sale in any jurisdiction or the initiation of any proceeding for such purpose, and (iv) of the happening of any event during the period a registration statement is effective as a result of which such registration statement or the related
prospectus contains any untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading and, if required by applicable law, prepare and file a
supplement or amendment to such registration statement or prospectus so that, as thereafter delivered to the purchasers of Shares registered thereby, such registration statement or prospectus will not contain an untrue statement of a material fact
or omit to state any fact necessary to make the statements therein not misleading; 

  
 9 

 (v) furnish counsel for each underwriter, if any, and for the Stockholders
copies of any correspondence with the SEC or any state securities authority relating to the registration statement or prospectus; 

(vi) otherwise comply with all applicable rules and regulations of the SEC, including making available to its security holders
an earnings statement covering at least 12 months which shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder (or any similar provision then in force); 

(vii) use all reasonable efforts to obtain the withdrawal of any order suspending the effectiveness of a registration statement
at the earliest possible time; 
 (c) Non-Shelf Registered Offerings and Shelf Takedowns. In
connection with any non-shelf registered offering or shelf takedown that is demanded by the LGP Stockholders or as to which piggyback rights otherwise apply, the Company will: 

(i) cooperate with the selling Stockholders and the sole underwriter or managing underwriter of an underwritten offering of
Shares, if any, to facilitate the timely preparation and delivery of certificates representing the Shares to be sold and not bearing any restrictive legends; and enable such Shares to be in such denominations (consistent with the provisions of the
governing documents thereof) and registered in such names as the selling Stockholders or the sole underwriter or managing underwriter of an underwritten offering of Shares, if any, may reasonably request at least five days prior to any sale of such
Shares; 
 (ii) furnish to each Stockholder and to each underwriter, if any, participating in the relevant offering, without
charge, as many copies of the applicable prospectus, including each preliminary prospectus, and any amendment or supplement thereto and such other documents as such Stockholder or underwriter may reasonably request in order to facilitate the public
sale or other disposition of the Shares; the Company hereby consents to the use of the prospectus, including each preliminary prospectus, by each such Stockholder and underwriter in connection with the offering and sale of the Shares covered by the
prospectus or the preliminary prospectus; 
 (iii) (i) use all reasonable efforts to register or qualify the Shares being
offered and sold, no later than the time the applicable registration statement becomes effective, under all applicable state securities or “blue sky” laws of such jurisdictions as each underwriter, if any, or any Stockholder holding Shares
covered by a registration statement, shall reasonably request; (ii) use all reasonable efforts to keep each such registration or qualification effective during the period such registration statement is required to be kept effective;
(iii) 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 set
forth in the registration statement and (iv) do any and all other acts and things which may be reasonably necessary or advisable to enable each such underwriter, if any, and Stockholder to consummate the disposition in each such jurisdiction of
such Shares owned by such Stockholder; provided, however, that the Company shall not be obligated to qualify as a foreign corporation or as a dealer in securities in any jurisdiction in which it is not so qualified or to consent to be
subject to general service of process (other than service of process in connection with such registration or qualification or any sale of Shares in connection therewith) in any such jurisdiction; 

  
 10 

 (iv) cause all Shares being sold to be qualified for inclusion in or listed
on the principal U.S. securities exchange on which the Common Stock is then so qualified or listed; 
 (v) cooperate and
assist in any filings required to be made with Financial Industry Regulatory Authority and in the performance of any due diligence investigation by any underwriter in an underwritten offering; 

(vi) use all reasonable efforts to facilitate the distribution and sale of any Shares to be offered pursuant to this Agreement,
including without limitation by making road show presentations, holding meetings with and making calls to potential investors and taking such other actions as shall be requested by the Stockholders or the lead managing underwriter of an underwritten
offering; and 
 (vii) enter into customary agreements (including, in the case of an underwritten offering, underwriting
agreements in customary form, and including provisions with respect to indemnification and contribution in customary form and consistent with the provisions relating to indemnification and contribution contained herein) and take all other customary
and appropriate actions in order to expedite or facilitate the disposition of such Shares and in connection therewith: 
 (1) make such
representations and warranties to the selling Stockholders and the underwriters, if any, in form, substance and scope as are customarily made by issuers to underwriters in similar underwritten offerings; 

(2) obtain opinions of counsel to the Company and updates thereof (which counsel and opinions (in form, scope and substance) shall be
reasonably satisfactory to the lead managing underwriter, if any) addressed to each selling Stockholder and the underwriters, if any, covering the matters customarily covered in opinions requested in sales of securities or underwritten offerings and
such other matters as may be reasonably requested by such Stockholders and underwriters; 
 (3) obtain “cold comfort” letters and
updates thereof from the Company’s independent certified public accountants addressed to the selling Stockholders, if permissible, and the underwriters, if any, which letters shall be customary in form and shall cover matters of the type
customarily covered in “cold comfort” letters to underwriters in connection with primary underwritten offerings; 
 (4) to the
extent requested by the LGP Shareholders, cause the Company’s directors and executive officers to enter into lock-up agreements in customary form; and 

(5) to the extent requested and customary for the relevant transaction, enter into a securities sales agreement with the Stockholders
providing for, among other things, the appointment of such representative as agent for the selling Stockholders for the purpose of soliciting purchases of Shares, which agreement shall be customary in form, substance and scope and shall contain
customary representations, warranties and covenants. 
 The above shall be done at such times as customarily occur in similar registered
offerings or shelf takedowns. 

  
 11 

 (d) Due Diligence. In connection with each registration and offering of Shares to be
sold by Stockholders, the Company will, in accordance with customary practice, make available for inspection by representatives of the Stockholders participating in such offering and underwriters and any counsel or accountant retained by such
Stockholder or underwriters all relevant financial and other records, pertinent corporate documents and properties of the Company and cause appropriate officers, managers and employees of the Company to supply all information reasonably requested by
any such representative, underwriter, counsel or accountant in connection with their due diligence exercise. 
 (e) Information from
Stockholders. Each Stockholder that holds Shares covered by any registration statement will furnish to the Company such information regarding itself as is required to be included in the registration statement, the ownership of Shares by such
Stockholder and the proposed distribution by such Stockholder of such Shares as the Company may from time to time reasonably request in writing. 

3.4 Indemnification. 

(a) Indemnification by the Company. In the event of any registration under the Securities Act by any registration statement pursuant to
rights granted in this Agreement of Shares held by the Stockholders, the Company will hold harmless the Stockholders and each underwriter of such securities and each other person, if any, who controls any Stockholder or such underwriter within the
meaning of the Securities Act, against any losses, claims, damages, or liabilities (including legal fees and costs of court), joint or several, to which the Stockholders or such underwriter or controlling person may become subject under the
Securities Act or otherwise, insofar as such losses, claims, damages, or liabilities (or any actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact (i) contained, on its
effective date, in any registration statement under which such securities were registered under the Securities Act or any amendment or supplement to any of the foregoing, or which arise out of or are based upon the omission or alleged omission to
state a material fact required to be stated therein or necessary to make the statements therein not misleading or (ii) contained in any preliminary prospectus, if used prior to the effective date of such registration statement, or in the final
prospectus (as amended or supplemented if the Company shall have filed with the SEC any amendment or supplement to the final prospectus), or which arise out of or are based upon the omission or alleged omission (if so used) to state a material fact
required to be stated in such prospectus or necessary to make the statements in such prospectus not misleading; and will reimburse the Stockholders and each such underwriter and each such controlling person for any legal or any other expenses
reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, or liability; provided, however, that the Company shall not be liable to any Stockholder or its underwriters or controlling persons in any such
case to the extent that any such loss, claim, damage, or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in such registration statement or such amendment or supplement, in
reliance upon and in conformity with information furnished to the Company through a written instrument duly executed by the Stockholders or such underwriter specifically for use in the preparation thereof. 

(b) Indemnification by the Stockholders. Each Stockholder will indemnify and hold harmless (in the same manner and to the same
extent as set forth in Section 3.4(a)) the Company, each director of the Company, each officer of the Company who shall sign the registration statement, and any person who controls the Company within the meaning of the Securities Act,
(i) with respect to any statement or omission from such registration statement, or any amendment or supplement to it, if such statement or omission was made in reliance upon and in conformity with information furnished to the Company through a
written instrument duly executed by such Stockholder specifically regarding such Stockholder for use in the preparation of such registration statement or amendment or supplement, and (ii) with respect to compliance by such Stockholder with
applicable laws in effecting the sale or other disposition of the securities covered by such registration statement. 

  
 12 

 (c) Indemnification Procedures. Promptly after receipt by an indemnified party of
notice of the commencement of any action involving a claim referred to in Section 3.4(a) and Section 3.4(b), the indemnified party will, if a resulting claim is to be made or may be made against and indemnifying party, give written notice
to the indemnifying party of the commencement of the action. The failure of any indemnified party to give notice shall not relieve the indemnifying party of its obligations in this Section 3.4, except to the extent that the indemnifying party
is actually prejudiced by the failure to give notice. If any such action is brought against an indemnified party, the indemnifying party will be entitled to participate in and to assume the defense of the action with counsel reasonably satisfactory
to the indemnified party, and after notice from the indemnifying party to such indemnified party of its election to assume defense of the action, the indemnifying party will not be liable to such indemnified party for any legal or other expenses
incurred by the latter in connection with the action’s defense. An indemnified party shall have the right to employ separate counsel in any action or proceeding and participate in the defense thereof, but the fees and expenses of such counsel
shall be at such indemnified party’s expense unless (a) the employment of such counsel has been specifically authorized in writing by the indemnifying party, which authorization shall not be unreasonably withheld, (ii) the
indemnifying party has not assumed the defense and employed counsel reasonably satisfactory to the indemnified party within 30 days after notice of any such action or proceeding, or (iii) the named parties to any such action or proceeding
(including any impleaded parties) include the indemnified party and the indemnifying party and the indemnified party shall have been advised by such counsel that there may be one or more legal defenses available to the indemnified party that are
different from or additional to those available to the indemnifying party (in which case the indemnifying party shall not have the right to assume the defense of such action or proceeding on behalf of the indemnified party), it being understood,
however, that the indemnifying party shall not, in connection with any one such action or separate but substantially similar or related actions in the same jurisdiction arising out of the same general allegations or circumstances, be liable for the
reasonable fees and expenses of more than one separate firm of attorneys (in addition to all local counsel which is necessary, in the good faith opinion of both counsel for the indemnifying party and counsel for the indemnified party in order to
adequately represent the indemnified parties) for the indemnified party and that all such fees and expenses shall be reimbursed as they are incurred upon written request and presentation of invoices. Whether or not a defense is assumed by the
indemnifying party, the indemnifying party will not be subject to any liability for any settlement made without its consent. No indemnifying party will consent to entry of any judgment or enter into any settlement which (i) does not include as
an unconditional term the giving by the claimant or plaintiff, to the indemnified party, of a release from all liability in respect of such claim or litigation or (ii) involves the imposition of equitable remedies or the imposition of any non-financial obligations on the indemnified party. 
 (d) Contribution. If the indemnification
required by this Section 3.4 from the indemnifying party is unavailable to or insufficient to hold harmless an indemnified party in respect of any indemnifiable losses, claims, damages, liabilities, or expenses, then the indemnifying party
shall contribute to the amount paid or payable by the indemnified party as a result of such losses, claims, damages, liabilities, or expenses in such proportion as is appropriate to reflect (i) the relative benefit of the indemnifying and
indemnified parties and (ii) if the allocation in clause (i) is not permitted by applicable law, in such proportion as is appropriate to reflect the relative benefit referred to in clause (i) and also the relative fault of the
indemnified and indemnifying parties, in connection with the actions which resulted in such losses, claims, damages, liabilities, or expenses, as well as any other relevant equitable considerations. The relative fault of the indemnifying party and
the indemnified party shall be determined by reference to, among other things, whether any action in question, including any untrue or alleged untrue statement of a material fact, has been made by, or relates to information supplied by, such
indemnifying party or parties, and the parties’ relative intent, knowledge, access to information, and opportunity to correct or prevent such action. The 

  
 13 

 
amount paid or payable by a party as a result of the losses, claims, damage, liabilities, and expenses referred to above shall be deemed to include any legal or other fees or expenses reasonably
incurred by such party in connection with any investigation or proceeding. The Company and the Stockholders agree that it would not be just and equitable if contribution pursuant to this Section 3.4(d) were determined by pro rata allocation or
by any other method of allocation which does not take account of the equitable considerations referred to in the prior provisions of this Section 3.4(d). Notwithstanding the provisions of this Section 3.4(d), no indemnifying party shall be
required to contribute any amount in excess of the amount by which the total price at which the securities were offered to the public by the indemnifying party exceeds the amount of any damages which the indemnifying party has otherwise been
required to pay by reason of an untrue statement or 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 a fraudulent misrepresentation. 
 (e) Non-Exclusive Remedy. The indemnification and
contribution provided for under this Agreement will be in addition to any other rights to indemnification or contribution that any indemnified party may have pursuant to law or contract (and the Company and its subsidiaries shall be considered the
indemnitors of first resort in all such circumstances to which this Section 3 applies) and will remain in full force and effect regardless of any investigation made by or on behalf of the indemnified party or any officer, director or
controlling Person of such indemnified party and will survive the transfer of Shares and the termination or expiration of this Agreement. 

3.5 Rule 144. If the Company is subject to the requirements of Section 13, 14 or 15(d) of the Exchange Act, the Company covenants
that it will file any reports required to be filed by it under the Securities Act and the Exchange Act (or, if the Company is subject to the requirements of Section 13, 14 or 15(d) of the Exchange Act but is not required to file such reports,
it will, upon the request of LGP Stockholder, make publicly available such information) and it will take such further action as any Stockholder may reasonably request, so as to enable such Stockholder to sell Shares without registration under the
Securities Act within the limitation of the exemptions provided by (a) Rule 144 under the Securities Act, as such Rule may be amended from time to time, or (b) any similar rule or regulation hereafter adopted by the SEC. Upon the request
of any Stockholder, the Company will deliver to such Stockholder a written statement as to whether it has complied with such requirements. 
 SECTION IV.
CORPORATE GOVERNANCE 
 4.1 Board of Directors. 

(a) Composition of Initial Board. As of the Closing, the Board of Directors shall be comprised of eight (8) directors, the
following four (4) of whom shall be deemed to have been designated by the LGP Stockholders (each, a “LGP Director”): Jeffrey Suer, J. Kristofer Galashan, Jonathan Seiffer, and John Danhakl. The foregoing directors shall be
divided into three classes of directors, each of whose members shall serve for staggered three-year terms as follows: 
 (i)
the class I directors shall initially include John Lai, Jonathan Seiffer and John Danhakl; 
 (ii) the class II directors
shall initially include J. Kristofer Galashan and Jeffery Suer; and 
 (iii) the class III directors shall initially include
Dorvin Lively, Susan Docherty and Jodi Taylor. 

  
 14 

 The initial term of the class I directors shall expire immediately following the
Company’s 2022 annual meeting of stockholders at which directors are elected. The initial term of the class II directors shall expire immediately following the Company’s 2023 annual meeting of stockholders at which directors are elected.
The initial term of the class III directors shall expire immediately following the Company’s 2024 annual meeting at which directors are elected. 

(b) LGP Stockholders’ Representation. For so long as the LGP Stockholders hold, in the aggregate, a number of shares of Common
Stock representing at least the percentages shown below of shares of Common Stock held in the aggregate by the LGP Stockholders following the consummation of all sales of Common Stock contemplated by the Underwriting Agreement, the Company shall
take all Necessary Action to include in the slate of nominees recommended by the Board of Directors for election as directors at each applicable annual or special meeting of stockholders at which directors are to be elected that number of
individuals designated by the LGP Stockholders (each, a “LGP Stockholders’ Designee”) that, if elected, will result in the number of LGP Directors serving on the Board of Directors that is shown below. 

 

					
	 Percentage
	  	Number of Directors	 
	 40% or greater
	  	 	4	 
	 Less than 40% but greater than or equal to 30%
	  	 	3	 
	 Less than 30% but greater than or equal to 20%
	  	 	2	 
	 Less than 20% but greater than or equal to 10%
	  	 	1	 
	 Less than 10%
	  	 	0	 

 Upon any decrease in the number of directors that the LGP Stockholders are entitled to designate for election
to the Board of Directors, the LGP Stockholders shall, upon request from the Company, use their reasonable best efforts to cause the appropriate number of LGP Stockholders’ Designees to offer to tender his or her resignation. If such
resignation is then accepted by the Board of Directors, the Company shall cause the size of the Board of Directors to be reduced accordingly unless the Company, with the approval of a majority of the remaining Directors, determines not to reduce the
authorized size of the Board of Directors, in which case the Board of Directors shall act in accordance with the bylaws of the Company then in effect to appoint or nominate a new director to the Board of Directors. 

(c) Additional Obligations. An individual designated by the LGP Stockholders for election (including pursuant to Section 4.1(b))
as a director shall comply with any applicable requirements of the charter for, and related guidelines of, any committee of the Board of Directors responsible for nominating directors (such committee, a “Nominating Committee”).
Notwithstanding anything to the contrary in this Section 4, in the event that the Board of Directors determines in good faith, after consultation with outside legal counsel, that its nomination, appointment or election of a particular LGP
Stockholders’ Designee pursuant to this Section 4.1 would constitute a breach of its fiduciary duties to the Company’s stockholders or does not otherwise comply with any requirements of the charter for, or related guidelines of, the
Nominating Committee, then the Board of Directors shall inform the LGP Stockholders of such determination in writing and explain in reasonable detail the basis for such determination and shall designate another individual designated for nomination,
election or appointment to the Board of Directors 

  
 15 

 
by the LGP Stockholders (subject in each case to this Section 4.1(c)), and the Board of Directors and the Company shall take all of the actions required by this Section 4 with respect
to the election of such substitute LGP Stockholders’ Designee. It is hereby acknowledged and agreed that the fact that a particular LGP Stockholders’ Designee is an Affiliate, director, professional, partner, member, manager, employee or
agent of the LGP Stockholders or is not an independent director shall not in and of itself constitute an acceptable basis for such determination by the Board of Directors. 

(d) Vacancies. Except as provided in Section 4.1(b), with respect to decreases in ownership of the LGP Stockholders, (i) the
LGP Stockholders shall have the exclusive right to request the removal of LGP Stockholders’ Designees from the Board of Directors in accordance with the bylaws of the Company then in effect, and the Company shall take all Necessary Action to
cause the removal (whether for or without cause) of any such LGP Stockholders’ Designee at the request of the LGP Stockholders and (ii) the LGP Stockholders shall have the exclusive right to designate directors for election to the Board of
Directors to fill vacancies (for the remainder of the then current term) created by reason of death, disability, removal or resignation of LGP Stockholders’ Designees to the Board of Directors, and the Company shall take all Necessary Action to
cause any such vacancies to be filled by replacement directors designated by the LGP Stockholders as promptly as reasonably practicable. 

(e) Committees. In accordance with the Company’s certificate of incorporation and bylaws, (i) the Board shall establish and
maintain an audit committee of the Board, as well as all other committees of the Board required in accordance with applicable Laws and stock exchange regulations, and (ii) the Board may from time to time by resolution establish and maintain
other committees of the Board. Subject to applicable laws and stock exchange regulations, and subject to requisite independence requirements applicable to such committee, the LGP Stockholders shall have the right to have one (1) LGP Director
appointed to serve on each committee of the Board for so long as the LGP Stockholders has the right to designate at least one (1) director for nomination to the Board. In furtherance of the foregoing, the Company agrees to take all Necessary
Action to have at least one (1) LGP Director appointed to serve on each committee of the Board (to the extent not prohibited by applicable Law or applicable stock exchange regulations). 

4.2 Agreement of Company. The Company hereby agrees that it will take all Necessary Actions to cause the matters addressed by this
Section 4 to be carried out in accordance with the provisions thereof. Without limiting the foregoing, the Secretary of the Company or such other officer or employee of the Company who may be fulfilling the duties of the Secretary, shall not
record any vote or consent or other action contrary to the terms of this Section 4. 
 SECTION V. MISCELLANEOUS PROVISIONS 

5.1 Access Rights. The Company shall, and shall cause its subsidiaries, officers, directors, employees, auditors and other agents to
(a) afford the LGP Stockholders and their officers, employees, auditors and other agents, during normal business hours and upon reasonable notice, at all reasonable times access to the Company’s and its subsidiaries’ officers,
employees, auditors, legal counsel, properties, offices, plants and other facilities and to all books and records, and (b) afford the LGP Stockholders and their officers, employees, auditors and other agents the opportunity to discuss the
affairs, finances and accounts of the Company and its subsidiaries with their respective officers from time to time as each such LGP Stockholder may reasonably request, in each case, until such time as such LGP Stockholder shall cease to own any
Shares. 

  
 16 

 5.2 Confidentiality. Each Stockholder agrees that it will keep confidential and will
not disclose, divulge or use for any purpose, other than to monitor its investment in the Company and its subsidiaries, any confidential information obtained from the Company pursuant to Section 5.1, unless such confidential information
(a) is known or becomes known to the public in general (other than as a result of a breach of any confidentiality obligation by such Stockholder or its affiliates), (b) is or has been independently developed or conceived by such Stockholder
without use of or reliance on the Company’s confidential information or (c) is or has been made known or disclosed to such Stockholder by a third party (other than an Affiliate of such Stockholder) without a breach of any confidentiality
obligations such third party may have to the Company that is known to such Stockholder; provided, that, a Stockholder may disclose confidential information (i) to its attorneys, accountants, consultants and other professional
advisors to the extent necessary to obtain their services in connection with monitoring its investment in the Company, (ii) to any prospective purchaser of any Shares from such Stockholder as long as such prospective purchaser executes a
confidentiality agreement with the Company, in form and substance satisfactory to the Company, (iii) to any Affiliate, partner, member, limited partners, prospective partners or related investment fund of such Stockholder and their respective
directors, employees, consultants and representatives, in each case in the ordinary course of business (provided that the recipients of such confidential information are subject to a customary confidentiality and
non-disclosure obligation, and provided further that Stockholder will remain liable to the Company for any breaches of confidentiality and nondisclosure obligations by such persons), or (iv) as may
otherwise be required by law or legal, judicial or regulatory process. 
 5.3 Reliance. Each covenant and agreement made by a party
in this Agreement or in any certificate, instrument or other document delivered pursuant to this Agreement is material, shall be deemed to have been relied upon by the other parties and shall remain operative and in full force and effect after the
Effective Time regardless of any investigation. This Agreement shall not be construed so as to confer any right or benefit upon any Person other than the parties hereto and their respective successors and permitted assigns. 

5.4 Access to Agreement; Amendment and Waiver; Actions of the Board. For so long as this Agreement shall be in effect, this Agreement
shall be made available for inspection by any Stockholder at the principal executive offices of the Company. Any party may waive in writing any provision hereof intended for its benefit, provided, that, in the case of any waiver by the Company, such
waiver is consented to in writing by the LGP Majority Interest. No failure or delay on the part of any party in exercising any right, power or remedy hereunder shall operate as a waiver thereof. The remedies provided for herein are cumulative and
are not exclusive of any remedies that may be available to any party at law or in equity or otherwise. This Agreement may be amended only with the prior written consent of the LGP Majority Interest and the Company; provided that any amendment to
this Agreement that adversely affects any Stockholder (other than any LGP Stockholder) in a disproportionate manner shall not be effective against such Stockholder without the prior written consent of such Stockholder. Any consent given as provided
in the preceding sentence shall be binding on all parties (subject to the proviso in the preceding sentence). Further, with the prior written consent of the LGP Majority Interest and the Company, at any time hereafter Permitted Transferees may be
made parties hereto, with any such additional parties shall be treated as “Stockholders” for all purposes hereunder, by executing a counterpart signature page in the form attached as Exhibit A hereto, which signature page shall be attached
to this Agreement and become a part hereof without any further action of any other party hereto. 
 5.5 Notices. All notices,
requests, demands and other communications provided for hereunder shall be in writing and mailed (by first class registered or certified mail, electronic mail, facsimile or postage prepaid), sent by express overnight courier service, or delivered to
the applicable party at the respective address indicated below: 

  
 17 

 If to the Company: 

Mister Car Wash, Inc. 

222 E 5th Street 

Tucson, Arizona 85705 

Attn: General Counsel 

With a copy (which shall not constitute notice): 

Latham & Watkins LLP 

885 Third Avenue 

New York, New York 10022 

Attention: 

Howard Sobel 

Greg Rodgers 

Ben Cohen 

Drew Capurro 

If to the LGP Stockholders: 

c/o Leonard Green & Partners, L.P. 

11111 Santa Monica Blvd., #2000 

Los Angeles, California 90025 

Attention: Jeff Suer 

With a copy (which shall not constitute notice): 

Latham & Watkins LLP 

885 Third Avenue 

New York, New York 10022 

Attention: 

Howard Sobel 

Greg Rodgers 

Ben Cohen 

Drew Capurro 

If to any other Stockholder: 

At such Person’s address for notice as set forth in the books and records of the Company, or, as to each of the foregoing, at such other
address as shall be designated by a party in a written notice to other parties complying as to delivery with the terms of this Section 5.5. All such notices, requests, demands and other communications shall, when mailed, telegraphed or sent,
respectively, be effective (i) two days after being deposited in the mail or (ii) one day after being deposited with the express overnight courier service, respectively, addressed as aforesaid. 

5.6 Counterparts; Electronic Delivery. This Agreement may be executed in two or more counterparts, and delivered via facsimile,
..pdf or other electronic transmission, each of which shall be deemed an original, but all of which together shall constitute one and the same agreement. This Agreement, the agreements referred to herein, and each other agreement or instrument
entered into in connection herewith or therewith or contemplated hereby or thereby, and any amendments hereto or thereto, to the extent executed and delivered by means of a photographic, photostatic, facsimile or similar reproduction of such signed
writing using a facsimile machine or electronic mail shall be treated in all manner and respects as an original agreement or instrument and shall be considered to have the same binding legal effect as if it were the original signed version thereof
delivered in person. At the request of any party hereto or to any 

  
 18 

 
such agreement or instrument, each other party hereto or thereto shall re-execute original forms thereof and deliver them to all other parties. No party
hereto or to any such agreement or instrument shall raise the use of a facsimile machine or electronic mail to deliver a signature or the fact that any signature or agreement or instrument was transmitted or communicated through the use of a
facsimile machine or electronic mail as a defense to the formation or enforceability of a contract and each such party forever waives any such defense. 

5.7 Remedies; Severability. It is specifically understood and agreed that any breach of the provisions of this Agreement by any party
will result in irreparable injury to the other parties, that the remedy at law alone will be an inadequate remedy for such breach, and that, in addition to any other legal or equitable remedies which they may have, such other parties may enforce
their respective rights by actions for specific performance or injunctive relief (to the extent permitted at law or in equity). If any one or more of the provisions of this Agreement, or the application thereof in any circumstances, is held invalid,
illegal or unenforceable in any respect for any reason, the validity, legality and enforceability of any such provision in every other respect and of the remaining provisions contained herein are not to be in any way impaired thereby, it being
intended that all of the rights and privileges of the parties be enforceable to the fullest extent permitted by law. 
 5.8 Entire
Agreement. This Agreement constitutes the entire agreement of the Parties with respect to the subject matter hereof. 
 5.9
Termination. This Agreement shall terminate on the earlier of (i) the election of the LGP Majority Interest, (ii) with respect to each LGP Stockholder, such date as the LGP Stockholder ceases to hold any Shares or (iii) with
respect any Stockholder other than an LGP Stockholder, such date as the Stockholder may sell all of its Shares without regard to volume restrictions under Rule 144 under the Securities Act; provided, that, with respect to this clause (iii), in no
event shall this Agreement terminate with respect to Crescent or Penfund until the twelve month anniversary of the consummation of the Initial Public Offering, regardless of whether Crescent or Penfund, as applicable, may sell all of its Shares
without regard to volume restrictions under Rule 144 under the Securities Act prior to such twelve month anniversary. 
 5.10 Governing
Law. This Agreement is to be construed and enforced in accordance with the laws of the State of Delaware, without giving effect to its principles or rules of conflict of laws to the extent such principles or rules are not mandatorily applicable
by statute and would require or permit the application of the laws of another jurisdiction. 
 5.11 Successors and Assigns;
Beneficiaries. This Agreement shall be binding upon and inure to the benefit of the parties and the respective successors and assigns of the parties as contemplated herein. Any successor to the Company by way of merger or otherwise must
specifically agree to be bound by the terms hereof as a condition of such succession. 
 5.12 Consent to Jurisdiction; Specific
Performance; WAIVER OF JURY TRIAL. 
 (a) Each of the parties hereto irrevocably and unconditionally consents to the sole and exclusive
jurisdiction of the state and federal courts located in Wilmington, Delaware to resolve all disputes, claims or controversies arising out of or relating to this Agreement or any other agreement executed and delivered pursuant to or in connection
with this Agreement or the negotiation, breach, validity, termination or performance hereof and thereof or the transactions contemplated hereby and thereby and agrees that it will not bring any such action in any court other than the federal or
state courts located in Wilmington, Delaware. Each party further irrevocably waives any objection to proceeding in such courts based upon lack of personal jurisdiction or to the laying of venue in such courts and further

  
 19 

 
irrevocably and unconditionally waives and agrees not to make a claim that such courts are an inconvenient forum. Each of the parties hereto hereby consents to service of process by registered
mail at the address to which notices are to be given as provided in Section 5.5. Each of the parties hereto agrees that its or his submission to jurisdiction and its or his consent to service of process by mail is made for the express benefit
of the other parties hereto. The choice of forum set forth in this Section shall not be deemed to preclude the enforcement of any judgment of a Delaware federal or state court, or the taking of any action under this Agreement to enforce such a
judgment, in any other appropriate jurisdiction. 
 (b) The parties agree that irreparable damage would occur in the event that any of the
provisions of this Agreement were not performed in accordance with their specific terms or were otherwise breached. It is accordingly agreed that the parties shall be entitled to an injunction or injunctions to prevent breaches of this Agreement and
to enforce specifically the terms and provisions of this Agreement, this being in addition to any other remedy to which such party is entitled at law or in equity. 

(c) EACH PARTY TO THIS AGREEMENT WAIVES TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM BROUGHT BY ANY OF THEM AGAINST THE OTHER
ARISING OUT OF OR IN ANY WAY CONNECTED WITH THIS AGREEMENT, OR ANY OTHER AGREEMENTS EXECUTED AND DELIVERED PURSUANT TO OR IN CONNECTION HEREWITH OR THE NEGOTIATION, BREACH, VALIDITY, TERMINATION OR PERFORMANCE HEREOF AND THEREOF OR THE TRANSACTIONS
CONTEMPLATED HEREBY AND THEREBY. FURTHER, (I) NO PARTY TO THIS AGREEMENT SHALL SEEK A JURY TRIAL IN ANY SUCH ACTION AND (II) NO PARTY WILL SEEK TO CONSOLIDATE ANY SUCH ACTION IN WHICH A JURY TRIAL HAS BEEN WAIVED WITH ANY OTHER ACTION IN
WHICH A JURY TRIAL CANNOT BE OR HAS NOT BEEN WAIVED. EACH PARTY TO THIS AGREEMENT CERTIFIES THAT IT HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT OR INSTRUMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS SET FORTH ABOVE IN THIS
SECTION 5.12. NO PARTY HAS IN ANY WAY AGREED WITH OR REPRESENTED TO ANY OTHER PARTY THAT THE PROVISIONS OF THIS SECTION WILL NOT BE FULLY ENFORCED IN ALL INSTANCES. 

5.13 Further Assurances; Company Logo. At any time or from time to time after the Effective Time, the parties hereto agree to cooperate
with each other, and at the request of any other party, to execute and deliver any further instruments or documents and to take all such further action as any other party may reasonably request in order to evidence or effectuate the provisions of
this Agreement and to otherwise carry out the intent of the parties hereunder. The Company hereby grants the LGP Stockholders and their respective Affiliates permission to use the Company’s and its subsidiaries’ name and logo in marketing
materials. 
 5.14 Regulatory Matters. The Company shall and shall cause its subsidiaries to keep the LGP Stockholders informed, on a
current basis, of any events, discussions, notices or changes with respect to any criminal or regulatory investigation or action involving the Company or any of its subsidiaries, so that the LGP Stockholders and their respective Affiliates will have
the opportunity to take appropriate steps to avoid or mitigate any regulatory consequences to them that might arise from such investigation or action. 

5.15 No Third Party Liability. This Agreement may only be enforced against the named parties hereto. All claims or causes of
action (whether in contract or tort) that may be based upon, arise out of or relate to this Agreement, or the negotiation, execution or performance of this Agreement (including any representation or warranty made in or in connection with this
Agreement or as an inducement to enter into this Agreement), may be made only against the entities that are expressly identified as parties hereto. 

  
 20 

 5.16 Effectiveness of Agreement. This Agreement shall become effective (such time,
the “Effective Time”) immediately prior to the effectiveness of the Company’s registration statement on Form S-1 related to the Initial Public Offering. However, to the extent the
Closing does not occur, the provisions of this Agreement shall be without any force or effect. 
 5.17 Removal of Legends. The
Company shall remove any restrictive legends on any Shares held by any Stockholder promptly upon request by such Stockholder if such legend is not, in the reasonable determination of the Company upon the advice of legal counsel, required to comply
with applicable securities laws; provided that the Company may require an opinion of legal counsel reasonably acceptable to the Company prior to any such removal other than in connection with a transfer made pursuant to an effective registration
statement. 
 5.18 Inconsistent Agreements. Neither the Company nor any Stockholder shall enter into any agreement or side letter
with, or grant any proxy to, any Stockholder, the Company or any other Person (whether or not such proxy, agreements or side letters are with other Stockholders, holders of Shares that are not parties to this Agreement or otherwise) that conflicts
with the provisions of this Agreement or which would obligate such Person to breach any provision of this Agreement. 
 [SIGNATURE PAGE
FOLLOWS] 

  
 21 

 IN WITNESS WHEREOF, the parties are signing this Amended and Restated Stockholders Agreement
as of the date first set forth above. 
  

			
	MISTER CAR WASH
		
	By:	 	/s/Jedidiah Gold
		 	Name: Jedidiah Gold
		 	Title: Chief Financial Officer

  
 [Signature Page
to Amended and Restated Stockholders Agreement] 

 
			
	 GREEN EQUITY INVESTORS VI, L.P.

		
	  By:	 	GEI Capital VI, LLC, its General Partner
		
	  By:	 	/s/ Jeff Suer
		 	Name: Jeff Suer
		 	Title: Principal
	
	 GREEN EQUITY INVESTORS SIDE VI, L.P.

		
	  By:	 	GEI Capital VI, LLC, its General Partner
		
	  By:	 	/s/ Jeff Suer
		 	Name: Jeff Suer
		 	Title: Principal
	
	 LGP ASSOCIATES VI-A LLC

		
	  By:	 	Peridot Coinvest Manager LLC, its Manager
	  By:	 	Leonard Green & Partners, L.P., its
		 	Manager
	  By:	 	LGP Management, Inc., its General Partner
		
	  By:	 	/s/ Jeff Suer
		 	Name: Jeff Suer
		 	Title: Principal
	
	 LGP ASSOCIATES VI-B LLC.

		
	  By:	 	Peridot Coinvest Manager LLC, its Manager
	  By:	 	Leonard Green & Partners, L.P., its
		 	Manager
	  By:	 	LGP Management, Inc., its General Partner
		
	  By:	 	/s/ Jeff Suer
		 	Name: Jeff Suer
		 	Title: Principal

  
 [Signature Page
to Amended and Restated Stockholders Agreement] 

 
	
	CRESCENT MEZZANINE PARTNERS VI, L.P.
	
	By: Crescent Capital Group LP, its investment advisor

  

			
		
	By:	 	/s/ Yevgeniy Kuznetsov
		 	Name: Yevgeniy Kuznetsov
		 	Title: Managing Director

  

			
		
	By:	 	/s/ Mandy Epler Brown
		 	Name: Mandy Epler Brown
		 	Title: Senior Vice President

  

	
	CRESCENT MEZZANINE PARTNERS VIB, L.P.
	
	By: Crescent Capital Group LP, its investment advisor

  

			
		
	By:	 	/s/ Yevgeniy Kuznetsov
		 	Name: Yevgeniy Kuznetsov
		 	Title: Managing Director

  

			
		
	By:	 	/s/ Mandy Epler Brown
		 	Name: Mandy Epler Brown
		 	Title: Senior Vice President

  

	
	CRESCENT MEZZANINE PARTNERS VIC, L.P.
	
	By: Crescent Capital Group LP, its investment advisor

  

			
		
	By:	 	/s/ Yevgeniy Kuznetsov
		 	Name: Yevgeniy Kuznetsov
		 	Title: Managing Director

  

			
		
	By:	 	/s/ Mandy Epler Brown
		 	Name: Mandy Epler Brown
		 	Title: Senior Vice President

 [Signature Page to Amended and Restated Stockholders Agreement] 

 
	
	PENFUND CAPTIAL FUND IV LIMITED PARTNERSHIP,
	
	By: Penfund Capital Partners IV Inc., its general partner

  

			
		
	By:	 	 /s/ Jeremy Thompson    

		 	 Name: Jeremy Thompson

Title:    Director

 [Signature Page to Amended and Restated Stockholders Agreement] 

 
			
	MANAGEMENT STOCKHOLDER
		
	By:	 	/s/ John Lai
		 	 Name: John Lai

Title:    Chief Executive Officer

  
 [Signature Page to
Amended and Restated Stockholders Agreement] 

 
			
	MANAGEMENT STOCKHOLDER
		
	By:	 	/s/ Jedidiah Gold
		 	 Name: Jedidiah Gold

Title:    Chief Financial Officer

  
 [Signature Page to
Amended and Restated Stockholders Agreement] 

 
			
	MANAGEMENT STOCKHOLDER
		
	By:	 	/s/ Lisa Funk
		 	 Name: Lisa Funk

Title:    General Counsel

  
 [Signature Page to
Amended and Restated Stockholders Agreement] 

 
			
	MANAGEMENT STOCKHOLDER
		
	By:	 	/s/ Joseph Matheny
		 	 Name:   Joseph Matheny

Title:    Senior Vice President, Operations

  
 [Signature Page to
Amended and Restated Stockholders Agreement] 

 
			
	MANAGEMENT STOCKHOLDER
		
	By:	 	/s/ Mayra Chimienti
		 	 Name: Mayra Chimienti

Title:    Vice President, Operations Services

  
 [Signature Page to
Amended and Restated Stockholders Agreement] 

 
			
	MANAGEMENT STOCKHOLDER
		
	By:	 	/s/ Casey Lindsay
		 	Name: Casey Lindsay
		 	Title: Vice President, Corporate Development

 [Signature Page to Amended and Restated Stockholders Agreement] 

 
			
	MANAGEMENT STOCKHOLDER
		
	By:	 	/s/ Jodi Taylor
		 	Name: Jodi Taylor
		 	Title: Director

 [Signature Page to Amended and Restated Stockholders Agreement] 

 
			
	MANAGEMENT STOCKHOLDER
		
	By:	 	/s/ Susan Docherty
		 	Name: Susan Docherty
		 	Title: Director

 [Signature Page to Amended and Restated Stockholders Agreement] 

 
			
	MANAGEMENT STOCKHOLDER
		
	By:	 	/s/ Dorvin Lively
		 	Name: Dorvin Lively
		 	Title: Director

 [Signature Page to Amended and Restated Stockholders Agreement] 

 EXHIBIT A 

Joinder Agreement 
 By execution of this
signature page, [_______________] hereby agrees to become a Party to, and to be bound by the obligations of, and receive the benefits of, that certain Amended and Restated Stockholders Agreement, dated as of
[ 🌑 ], 2021, by and among Mister Car Wash, Inc., a Delaware Corporation, [ 🌑 ], and certain other Parties named therein, as amended from time
to time thereafter. 
  

			
	[NAME]
		
	By:	 	 
	Name:	 	
	Title:	 	

  

			
	Notice Address:
		
		 	 
		 	 

 Accepted: 
  

			
	MISTER CAR WASH, INC.
		
	By:	 	 
	Name:	 	
	Title:

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