Document:

EX-10.2

 Exhibit 10.2 

FORM OF EXCHANGE AGREEMENT 

EXCHANGE AGREEMENT (this “Agreement”), dated as of             ,
2018, among Caliburn Holdings LLC, a Delaware limited liability company (“Holdings”), Caliburn International Corporation, a Delaware corporation (“Caliburn”), and the Members (as defined herein) from time to time
party hereto. 
 WHEREAS, the parties hereto desire to provide for the exchange of Common Units (as defined below) (with automatic
cancellation of an equal number of shares of Class B Common Stock (as defined below)) for shares of Class A Common Stock (as defined below), or cash on the terms and subject to the conditions set forth herein; 

NOW, THEREFORE, in consideration of the mutual covenants and undertakings contained herein and for good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 
 ARTICLE I 

SECTION 1.1 Definitions. 

The following definitions shall be for all purposes, unless otherwise clearly indicated to the contrary, applied to the terms used in this
Agreement. 
 “Business Day” means any day except a Saturday, Sunday or other day on which commercial banks in New York,
New York are authorized or required by law to close. 
 “Cash Settlement Amount” means, as of a particular date,
immediately available funds in U.S. dollars for each Common Unit that is Exchanged for the Cash Settlement Amount, in an amount equal to the product of (a)(i) if the shares of Class A Common Stock trade on principal U.S. securities exchange or
automated or electronic quotation system or another national securities exchange, the volume weighted average price of a share, as reported by The Wall Street Journal or its successor, over the three Trading Days ending one day prior to the date the
Election of Exchange is delivered to Caliburn and Holdings; (ii) if the shares of Class A Common Stock trade over-the-counter, the average of the closing bid
or sale prices of a share over the three Trading Days ending prior to the date the Election of Exchange is delivered to Caliburn and Holdings; and (iii) otherwise, the price of a share of Class A Common Stock as determined in good faith by
a committee of the board of directors composed of the Disinterested Directors, multiplied by (b) the Exchange Rate. 

“Class A Common Stock” means the Class A common stock, par value $0.01 per share, of Caliburn. 

“Class B Common Stock” means the Class B common stock, par value $0.001 per share, of Caliburn. 

“Code” means the United States Internal Revenue Code of 1986, as amended, and any successor law. 

“Common Units” means (i) each Common Unit (as such term is defined in the LLC Agreement) issued as of the date hereof
and (ii) each Common Unit or other interest in Holdings that may be issued by Holdings in the future that is designated by Caliburn and Holdings as a “Common Unit” for purposes of this Agreement. 

“Disinterested Director” means a member of the board of directors of Caliburn, who is not the beneficial owner of, and is not
an affiliate of a beneficial owner of, Common Units. 

 “Election of Exchange” has the meaning given to such term in
Section 2.1(b) of this Agreement. 
 “Exchange” has the meaning set forth in
Section 2.1(a) of this Agreement. The term “Exchanged” shall have a correlative meaning. 

“Exchange Act” means the United States Securities Exchange Act of 1934, as amended. 

“Exchange Rate” means 1:1, subject to adjustment pursuant to Section 2.3 of this Agreement. 

“IPO” means the initial public offering and sale of Class A Common Stock (as contemplated by Caliburn’s
registration statement on Form S-1 (File No. 333-            )). 

“LLC Agreement” means the Third Amended and Restated LLC Agreement of Holdings dated on or about the date hereof, as such
agreement may be amended and/or restated from time to time. 
 “Member” means each holder of one or more Common Units that
may from time to time be a party to this Agreement. 
 “Permitted Transferee” has the meaning given to such term in
Section 3.1 of this Agreement. 
 “Person” means any individual, firm, corporation, partnership,
trust, incorporated or unincorporated association, joint venture, joint stock company, limited liability company, governmental authority or other entity of any kind, and shall include any successor (by merger or otherwise) of such entity. 

“Publicly Traded” means listed or admitted to trading on the New York Stock Exchange or another national securities exchange,
or any successor to any of the foregoing. 
 “Securities Act” means the United States Securities Act of 1933, as amended.

 “Stock Amount” means, for each Common Unit that is Exchanged for the Stock Amount, a number of shares of Class A
Common Stock that is equal to the Exchange Rate. 
 “Tax Receivable Agreement” means that certain tax receivable agreement
between Caliburn and the individuals listed therein, dated as of            , 2018. 

“Trading Day” means a day on which shares of the Class A Common Stock (i) are not suspended from trading at the
close of business on the New York Stock Exchange or such other national securities exchange where the Class A Common Stock has been listed or admitted for trading or any successor to any such exchange and (ii) have traded at least once on
the New York Stock Exchange or such other national securities exchange where the Class A Common Stock has been listed or admitted for trading or any successor to any such exchange. If the Class A Common Stock is not listed or admitted for
trading on the New York Stock Exchange or another national securities exchange, or any successor to any of the foregoing, “Trading Day” means a Business Day. 

ARTICLE II 
 SECTION 2.1
Exchange of Common Units. 
 (a) Subject to Section 2.1(d), from and after the date of the closing of the
IPO, each Member shall be entitled, upon the terms and subject to the conditions hereof, to surrender to Holdings Common Units in exchange (an “Exchange”) for the delivery to such exchanging Member, for each Common Unit so
surrendered, of either (x) the Stock Amount; provided that any such Exchange is for a minimum of 1,000 Common Units or all of the Common Units then held by such Member; or (y) if a majority of the Disinterested Directors so elects,
the Cash Settlement Amount. Upon an Exchange, a number of shares of Class B Common Stock belonging to the exchanging Member equal to the number of Common Units Exchanged shall automatically be cancelled. 

 (b) A Member shall exercise its right to Exchange Common Units and have shares of
Class B Common Stock cancelled as set forth in Section 2.1(a) above by delivering to Caliburn and to Holdings a written election of exchange in the form of Exhibit A hereto (an “Election of
Exchange”), duly executed by such Member or such Member’s duly authorized attorney in respect of the Common Units and Class B Common Stock to be Exchanged and canceled, as the case may be, delivered during normal business hours in
accordance with the notice provisions set forth in Section 3.2. 
 (c) Upon the surrender for Exchange of the
applicable Common Units and instructions or stock powers representing a corresponding number of shares of Class B Common Stock in the manner provided in this Article II, if the Class A Common Stock is eligible for the depository and
book-entry services of The Depository Trust Company, Holdings will, subject to Section 2.4 below, deliver or cause to be delivered within two (2) Trading Days, the shares of Class A Common Stock deliverable to
such exchanging Member through the facilities of The Depository Trust Company, to the account of the participant of The Depository Trust Company designated by such exchanging Member. Otherwise, Holdings shall deliver or cause to be delivered within
two (2) Trading Days at the offices of the then-acting registrar and transfer agent of the Class A Common Stock or, if there is no then-acting registrar and transfer agent of the Class A Common Stock, at the principal executive
offices of Caliburn, the number of shares of Class A Common Stock deliverable upon such Exchange, registered in the name of the relevant exchanging Member or its designee. 

(d) From time-to-time, if a Member in good faith believes that
it may Exchange Common Units and desires to determine in advance whether Caliburn will elect to satisfy an Exchange with the Cash Settlement Amount pursuant to Section 2.1(a)(y), then the Member may request in writing in
accordance with the notice provisions set forth in Section 3.2 that Caliburn advise it in advance of its decision through delivery of a cash election substantially in the form of Exhibit B hereto. Such cash election
shall be binding upon Caliburn with respect to any Election of Exchange received by Caliburn and Holdings prior to the earlier of (i) sixty (60) days following its delivery to the Member, or (ii) the end of Holdings’ then current
fiscal year. If Caliburn does not deliver such notice of its cash election within five (5) Business Days of Caliburn’s and the Holdings’ receipt of such Member’s request, Caliburn shall forfeit the right to satisfy such Exchange
with the Cash Settlement Amount during the time period specified above. 
 (e) Upon receiving an Election of Exchange from a Member,
Holdings may elect to cause Caliburn to effect the Exchange under Section 2.1(a) and deliver to the Member the number of shares of Class A Common Stock or the Cash Settlement Amount that such Member is entitled to
receive in the Exchange, in which event the Member shall deliver to Caliburn the Common Units being surrendered in the Exchange. In all other cases, Holdings shall effect the Exchange and, at the time of the Closing of any such Exchange, unless
provided for otherwise, Caliburn shall contribute to Holdings the number of shares of Class A Common Stock or the Cash Settlement Amount that such Member is entitled to receive in the Exchange and Caliburn shall be issued Common Units in an
amount equal to the value of its contribution to Holdings. 
 (f) Notwithstanding anything to the contrary herein, no Member may Exchange
Common Units pursuant to Section 2.1(a) during the 180-day period after the date set forth on the final prospectus used to sell shares of Class A Common Stock in the IPO. 

SECTION 2.2 Class A Common Stock to be Issued. 

(a) Caliburn shall at all times reserve and keep available out of its authorized but unissued shares of Class A Common Stock, solely for
the purpose of issuance upon an Exchange, such 

 
number of shares of Class A Common Stock as shall be deliverable upon the Exchange of all outstanding Common Units; provided that nothing contained herein shall be
construed to preclude Caliburn from satisfying its obligations in respect of the Exchange of the Common Units by delivery of shares of Class A Common Stock which are held in the treasury of Caliburn or by delivery of purchased shares of
Class A Common Stock (which may or may not be held in the treasury of Caliburn). Caliburn and Holdings covenant that all shares of Class A Common Stock issued upon an Exchange will, upon issuance, be validly issued, fully paid and non-assessable, and that upon delivery of the shares of Class A Common Stock issued upon an Exchange, good and valid title to such shares of Class A Common Stock, free and clear of all liens other than
those created by the Member or holder, encumbrances, equities, and claims shall pass to the holder of such shares. 
 (b) Holdings and
Caliburn shall at all times ensure that the execution and delivery of this Agreement by each of Holdings and Caliburn and the consummation by each of Holdings and Caliburn of the transactions contemplated hereby (including without limitation, the
issuance of the shares of Class A Common Stock) have been duly authorized by all necessary limited liability company or corporate action, as the case may be, on the part of Holdings and Caliburn, including, but not limited to, all actions
necessary to ensure that the acquisition of shares of Class A Common Stock pursuant to the transactions contemplated hereby, to the fullest extent of Caliburn’s board of directors’ power and authority and to the extent permitted by
law, shall not be subject to any “moratorium,” “control share acquisition,” “business combination,” “fair price” or other form of anti-takeover laws and regulations of any jurisdiction that may purport to be
applicable to this Agreement or the transactions contemplated hereby. 
 (c) Without in any way reducing the obligations of Caliburn under
the preceding Section 2.2(b), in the event that any Exchange in accordance with this Agreement is to be effected at a time when any required registration under the Securities Act has not become effective or otherwise is unavailable, upon the
request and with the reasonable cooperation of the Member requesting such Exchange, Caliburn and Holdings shall use commercially reasonable efforts to promptly facilitate such Exchange pursuant to any reasonably available exemption from such
registration requirements. Caliburn and Holdings shall use commercially reasonable efforts to list the shares of Class A Common Stock to be delivered upon an Exchange prior to such delivery upon each national securities exchange upon which the
outstanding shares of Class A Common Stock may be listed or traded at the time of such delivery. 
 (d) The shares of Class A
Common Stock issued upon an Exchange, other than any such shares issued in an Exchange subject to a registration statement that has been declared effective by the SEC, shall bear a legend in substantially the following form: 

THE TRANSFER OF THESE SECURITIES HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR UNDER THE SECURITIES LAWS OF ANY
OTHER JURISDICTION, AND MAY NOT BE SOLD OR TRANSFERRED OTHER THAN IN ACCORDANCE WITH THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT OF 1933, AS AMENDED (OR OTHER APPLICABLE LAW), OR AN EXEMPTION THEREFROM. 

(e) If (i) any shares of Class A Common Stock may be sold pursuant to a registration statement that has been declared effective by
the SEC, (ii) all of the applicable conditions of Rule 144 are met, or (iii) the legend (or a portion thereof) otherwise ceases to be applicable, Caliburn, upon the written request of the Member thereof shall promptly provide such Member
or its respective transferees, without any expense to such persons (other than applicable transfer taxes and similar governmental charges, if any) with new certificates (or evidence of book-entry share) for securities of like tenor not bearing the
provisions of the legend with respect to which the restriction has terminated. In connection therewith, such Member shall provide Caliburn with such information in its possession as Caliburn may reasonably request in connection with the removal of
any such legend. 

 SECTION 2.3 Adjustment. The Exchange Rate shall be adjusted accordingly if there
is: (a) any subdivision (by any unit split, unit distribution, reclassification, reorganization, recapitalization or otherwise) or combination (by reverse unit split, reclassification, reorganization, recapitalization or otherwise) of the
Common Units that is not accompanied by an identical subdivision or combination of the Class A Common Stock; or (b) any subdivision (by any stock split, stock dividend or distribution, reclassification, reorganization, recapitalization or
otherwise) or combination (by reverse stock split, reclassification, reorganization, recapitalization or otherwise) of the Class A Common Stock that is not accompanied by an identical subdivision or combination of the Common Units and the
Class B Common Stock. If there is any reclassification, reorganization, recapitalization or other similar transaction in which the Class A Common Stock is converted or changed into another security, securities or other property, then upon
any subsequent Exchange, an exchanging Member shall be entitled to receive the amount of such security, securities or other property that such exchanging Member would have received if such Exchange had occurred immediately prior to the effective
date of such reclassification, reorganization, recapitalization or other similar transaction, taking into account any adjustment as a result of any subdivision (by any split, distribution or dividend, reclassification, reorganization,
recapitalization or otherwise) or combination (by reverse split, reclassification, recapitalization or otherwise) of such security, securities or other property that occurs after the effective time of such reclassification, reorganization,
recapitalization or other similar transaction. 
 SECTION 2.4 Expenses. Caliburn, Holdings and each exchanging Member shall bear
their own expenses in connection with the consummation of any Exchange, whether or not any such Exchange is ultimately consummated, except that Caliburn or Holdings, as the case may be, shall bear any transfer taxes, stamp taxes or duties, or other
similar taxes in connection with, or arising by reason of, any Exchange; provided, however, that if any shares of Class A Common Stock are to be delivered in a name other than that of the Member that elected the Exchange, then
such Member and/or the person in whose name such shares are to be delivered shall pay to Caliburn the amount of any transfer taxes, stamp taxes or duties, or other similar taxes in connection with, or arising by reason of, such Exchange or shall
establish to the reasonable satisfaction of Caliburn that such tax has been paid or is not payable. 
 SECTION 2.5 Conflicts.
For the avoidance of doubt, and notwithstanding anything to the contrary herein, a Member shall not be entitled to Exchange Common Units to the extent that such Exchange would be prohibited by law; provided, that nothing in this Agreement
shall be construed to limit the rights and remedies of any Member. For the avoidance of doubt, no Exchange shall be deemed to be prohibited by law pertaining to the registration of securities if such securities have been so registered or if any
exemption from such registration requirements is reasonably available. 
 SECTION 2.6 Other Exchange Procedures. Notwithstanding
anything to the contrary herein, if the board of directors of Caliburn shall determine in good faith that additional restrictions on Exchange are necessary so that Holdings is not treated as a “publicly traded partnership” under
Section 7704 of the Code, Caliburn or Holdings may impose such additional reasonable restrictions on Exchange as the board of directors of Caliburn has determined in good faith to be so necessary based on advice of counsel. 

SECTION 2.7 Tender Offers and Other Events with Respect to Caliburn. In the event that a tender offer, share exchange offer, issuer
bid, take-over bid, recapitalization or similar transaction with respect to Class A Common Stock (a “Caliburn Offer”) is proposed by Caliburn or is proposed to Caliburn or its stockholders and approved by the Board or is
otherwise effected or to be effected with the consent or approval of the Board, the Members holding Common Units shall be permitted to participate in such Caliburn Offer by delivery of an Election of Exchange (which Election of Exchange shall be

 
effective immediately prior to the consummation of such Caliburn Offer (and, for the avoidance of doubt, shall be contingent upon such Caliburn Offer and not be effective if such Caliburn Offer
is not consummated)). In the case of a Caliburn Offer proposed by Caliburn, Caliburn will use its reasonable best efforts expeditiously and in good faith to take all such actions and do all such things as are necessary or desirable to enable and
permit the Members holding Common Units to participate in such Caliburn Offer to the same extent or on an economically equivalent basis as the holders of shares of Class A Common Stock without discrimination; provided, that without
limiting the generality of this sentence (and without limiting the ability of any Member to Exchange Common Units at any time pursuant to the terms of this Agreement), Caliburn will use its reasonable best efforts expeditiously and in good faith to
ensure that such Members may participate in each such Caliburn Offer without being required to Exchange Common Units. For the avoidance of doubt, in no event shall the Members holding Common Units be entitled to receive in such Caliburn Offer
aggregate consideration for each Common Unit that is greater than the consideration payable in respect of each share of Class A Common Stock in connection with a Caliburn Offer (it being understood that payments under or in respect of the Tax
Receivable Agreement shall not be considered part of any such consideration). 
 SECTION 2.8 Waiting Period. The
consummation of any Exchange pursuant to this Agreement shall be subject to the expiration or termination of the applicable waiting period, if any, under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 or any other applicable law. 

ARTICLE III 
 SECTION 3.1
Additional Members. To the extent a Member validly transfers any or all of such holder’s Common Units and corresponding shares of Class B Common Stock to another person in a transaction in accordance with, and not in contravention
of, the LLC Agreement or any other agreement or agreements with Caliburn or any of its subsidiaries to which a transferring Member may be party, then such transferee (each, a “Permitted Transferee”) shall have the obligation to
execute and deliver a joinder to this Agreement, substantially in the form of Exhibit B hereto, whereupon such Permitted Transferee shall become a Member hereunder. To the extent Holdings issues Common Units in the future (including, without
limitation, Common Units issued upon exercise of options or warrants), Caliburn and Holdings shall be entitled, in their sole discretion, to make any holder of such Common Units a Member hereunder through such holder’s execution and delivery of
a joinder to this Agreement, substantially in the form of Exhibit B hereto. 
 SECTION 3.2 Addresses and Notices. All
notices, requests, claims, demands and other communications hereunder shall be in writing and shall be given (and shall be deemed to have been duly given upon receipt) by delivery in person, by courier service, by electronic mail (delivery receipt
requested) or by registered or certified mail (postage prepaid, return receipt requested) to the respective parties at the following addresses (or at such other address for a party as shall be as specified in a notice given in accordance with this
Section 3.2): 
 (a) If to Caliburn or Holdings, to: 

Caliburn International Corporation / Caliburn Holdings LLC 

10701 Parkridge Boulevard, Suite 200 

Reston, Virginia 20191 

Attention: [Chief Executive Officer]/[Chairman] 

Email: [            ] 

with copies to: 

White & Case LLP 

 1221 Avenue of the Americas 

New York, NY 10020 
 Attention:
Kenneth Suh, Colin J. Diamond and F. Holt Goddard 
 Email: kenneth.suh@whitecase.com; colin.diamond@whitecase.com; 

holt.goddard@whitecase.com 
  

	 	(b)	 If to any Member, to the address and other contact information set forth in the records of Holdings from time
to time. 

 SECTION 3.3 Further Action. The parties shall execute and deliver all documents, provide all
information and take or refrain from taking action as may be necessary or appropriate to achieve the purposes of this Agreement. 

SECTION 3.4 Binding Effect. This Agreement shall be binding upon and inure to the benefit of all of the parties and, to the extent
permitted by this Agreement, their successors, executors, administrators, heirs, legal representatives and assigns. 
 SECTION 3.5
Severability. If any term or other provision of this Agreement is held to be invalid, illegal or incapable of being enforced by any rule of law, or public policy, all other conditions and provisions of this Agreement shall nevertheless remain
in full force and effect so long as the economic or legal substance of the transactions is not affected in any manner materially adverse to any party. Upon a determination that any term or other provision is invalid, illegal or incapable of being
enforced, the parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely as possible in a mutually acceptable manner in order that the transactions contemplated hereby be
consummated as originally contemplated to the fullest extent possible. 
 SECTION 3.6 Amendment and Termination. This Agreement
(including any annexes, schedules or supplements hereto) may be amended, supplemented, waived or modified only in writing by Holdings and a majority in interest of the Members (other than Caliburn and its subsidiaries) in accordance with their
holdings of Common Units; provided that no amendment may adversely affect the rights of a Member (other than Caliburn and its subsidiaries) in any material respect without the written consent of such Member. This Agreement shall terminate on
the earlier of (i) the Exchange hereunder of all outstanding Common Units, and (ii)            , [2033], except with respect to any Member that at such date holds [1]% or more of the
Common Units then outstanding, for whom it shall continue so long as such Member continues to hold [1]% or more of the outstanding Common Units and for [30] days thereafter. 

SECTION 3.7 Waiver. No failure by any party to insist upon the strict performance of any covenant, duty, agreement or condition of
this Agreement or to exercise any right or remedy consequent upon a breach thereof shall constitute waiver of any such breach of any other covenant, duty, agreement or condition. 

SECTION 3.8 Submission to Jurisdiction; Waiver of Jury Trial. Subject to any provision of the Certificate of Incorporation of
Caliburn requiring arbitration of claims, each party hereto irrevocably submits to the exclusive jurisdiction of the Court of Chancery of the State of Delaware (unless the Federal courts have exclusive jurisdiction over the matter, in which case the
United Stated District for the District of Delaware) for the purposes of any legal proceeding arising out of this Agreement, or the transactions contemplated hereby, and agrees to commence any such legal proceeding only in such courts. Each party
hereto further agrees that service of any process, summons, notice or document by United States registered mail to such party’s respective address set forth herein shall be effective service of process for any such legal proceeding. Each party
hereto irrevocably and unconditionally waives any 

 
objection to the laying of venue of any action, suit, hearing, claim, lawsuit, litigation, investigation, arbitration or proceeding out of this Agreement or the transactions contemplated hereby
in such courts, and hereby irrevocably and unconditionally waives and agrees not to plead or claim in any such court that any such legal proceeding brought in any such court has been brought in an inconvenient forum. EACH PARTY HEREBY IRREVOCABLY
WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING OR COUNTERCLAIM (WHETHER AT LAW, IN EQUITY, BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATING TO THIS AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREBY OR THE ACTIONS OF SUCH
PARTY IN THE NEGOTIATION, ADMINISTRATION, PERFORMANCE AND ENFORCEMENT HEREOF OR THEREOF. 
 SECTION 3.9 Counterparts. This
Agreement may be executed and delivered (including by facsimile transmission or by e-mail delivery of a “.pdf” format data file) in one or more counterparts, and by the different parties hereto in
separate counterparts, each of which when executed and delivered shall be deemed to be an original but all of which taken together shall constitute one and the same agreement. Copies of executed counterparts transmitted by telecopy, by e-mail delivery of a “.pdf” format data file or other electronic transmission service shall be considered original executed counterparts for purposes of this Section 3.9. 

SECTION 3.10 Tax Treatment. This Agreement shall constitute and be treated as part of the limited liability company agreement of
Holdings as described in Section 761(c) of the Code and Sections 1.704-1(b)(2)(ii)(h) and 1.761-1(c) of the Treasury Regulations promulgated thereunder. The parties
shall report (i) any Exchange consummated hereunder as a taxable sale of the Common Units by a Member to Caliburn pursuant to Section 1001 of the Code, and no party shall take a contrary position on any income tax return, amendment thereof
or communication with a taxing authority except upon (i) a contrary final determination by a taxing authority, or (ii) the advice of legal counsel or a nationally-recognized accounting firm that based on a change in applicable law such
that the above tax reporting position does not meet a more likely than not standard or otherwise requires Holdings to disclose such position or create a reserve pursuant to applicable accounting principles. Further, in connection with any Exchange
consummated hereunder, Holdings and/or Caliburn shall provide the exchanging Member with all reasonably necessary information to enable the exchanging Member to file its income tax returns for the taxable year that includes the Exchange, including
information with respect to Code Section 751 assets (including relevant information regarding “unrealized receivables” or “inventory items”) and Section 743(b) basis adjustments as soon as practicable and in all events
within 60 days following the close of such taxable year (and use commercially reasonable efforts to provide estimates of such information within 90 days of the applicable Exchanges). 

SECTION 3.11 Withholding. Caliburn shall be entitled to deduct and withhold from any payment made to a Member pursuant to any
Exchange consummated under this Agreement all Taxes that Caliburn is required to deduct and withhold with respect to such payment under the Code (or any other provision of applicable Law), including, without limitation, Section 1446(f) of the
Code. Caliburn may at its sole discretion reduce the Stock Amount or the Cash Settlement Amount paid to a Member in an Exchange in an amount that corresponds to the amount of the required withholding described in the immediately preceding sentence
and all such amounts shall be treated as having been paid to such Member. 
 SECTION 3.12 Specific Performance. The parties
hereto 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 specific performance of the terms and provisions hereof, in addition to any other remedy to which they are entitled at law or in equity. 

 SECTION 3.13 Independent Nature of Members’ Rights and Obligations. The
obligations of each Member hereunder are several and not joint with the obligations of any other Member, and no Member shall be responsible in any way for the performance of the obligations of any other Member hereunder. The decision of each Member
to enter into to this Agreement has been made by such Member independently of any other Member. Nothing contained herein, and no action taken by any Member pursuant hereto, shall be deemed to constitute the Members as a partnership, an association,
a joint venture or any other kind of entity, or create a presumption that the Members are in any way acting in concert or as a group with respect to such obligations or the transactions contemplated hereby and Caliburn acknowledges that the Members
are not acting in concert or as a group, and Caliburn will not assert any such claim, with respect to such obligations or the transactions contemplated hereby. 

SECTION 3.14 Other Agreements. Neither Caliburn nor Holdings shall enter into any contract, mortgage, loan or other agreement that
prohibits or restricts (a) Caliburn or Holdings from performing their specific obligations under this Agreement or (b) a Member from exercising its rights under this Agreement to effect an Exchange, except, in either case, with the written
consent of each such Member affected by the prohibition or restriction, or to the extent such prohibition or restriction affects all Members (other than Caliburn and its subsidiaries) on a pro rata basis, with the written consent of a majority in
interest of such affected Members (other than Caliburn and its subsidiaries) in accordance with their holdings of Common Units. 

SECTION 3.15 Applicable Law. This Agreement shall be governed by, and construed in accordance with, the law of the State of
Delaware. 
 [Remainder of Page Intentionally Left Blank] 

 IN WITNESS WHEREOF, the parties have caused this Agreement to be duly executed and
delivered, all as of the date first set forth above. 
  

			
	CALIBURN HOLDINGS, LLC
		
	By:	 	  

		 	Name:
		 	Title:
	
	CALIBURN INTERNATIONAL CORPORATION
		
	By:	 	  

		 	Name:
		 	Title:

 [Signature Page – Exchange Agreement] 

 
			
	 COMPANY MEMBER

		
	 By:
	 	
	 Its:
	 	

 [Signature Page – Exchange Agreement] 

 EXHIBIT A 

FORM OF 
 ELECTION OF EXCHANGE 

Caliburn Holdings LLC 
 Caliburn International Corporation 

10701 Parkridge Boulevard, Suite 200 
 Reston, Virginia 20191 

Attention: [Chief Legal Officer] 
 Email:
[            ] 
 Reference is hereby made to the Exchange Agreement,
dated as of             , 2018 (the “Exchange Agreement”), among Caliburn Holdings LLC, a Delaware limited liability company (the “Holdings”), Caliburn
International Corporation, a Delaware corporation (“Caliburn”), and the holders of Common Units from time to time party thereto. Capitalized terms used but not defined herein shall have the meanings given to them in the Exchange
Agreement. 
 The undersigned Member hereby transfers to Holdings or Caliburn (as specified in the Exchange Agreement) the number of Common
Units and surrenders for cancellation the number of shares of Class B Common Stock set forth below in exchange for shares of Class A Common Stock to be issued in its name as set forth below (or in the name of a designee as may be set forth
below) or cash, to the extent elected by Caliburn. 
 Legal Name of Member: 

Address: 
 Number of Common Units and shares of Class B
Common Stock to be Exchanged: 
 Depository Trust Holdings Participant (for delivery of shares of Class A Common Stock): 

The undersigned hereby represents and warrants that (i) the undersigned has full legal capacity to execute and deliver this Election of
Exchange and to perform the undersigned’s obligations hereunder; (ii) this Election of Exchange has been duly executed and delivered by the undersigned and is the legal, valid and binding obligation of the undersigned enforceable against
it in accordance with the terms thereof or hereof, as the case may be, subject to applicable bankruptcy, insolvency and similar laws affecting creditors’ rights generally and the availability of equitable remedies; (iii) the Common Units
and shares of Class B Common Stock subject to this Election of Exchange are being transferred free and clear of any pledge, lien, security interest, encumbrance, equities or claim; and (iv) no consent, approval, authorization, order,
registration or qualification of any third party or with any court or governmental agency or body having jurisdiction over the undersigned or the Common Units and shares of Class B Common Stock subject to this Election of Exchange is required
to be obtained by the undersigned for the transfer of such Common Units. 
 The undersigned hereby irrevocably constitutes and appoints any
officer of Caliburn or of Holdings as the attorney of the undersigned, with full power of substitution and resubstitution in the premises, to do any and all things and to take any and all actions that may be necessary to exchange the Common Units
and shares of Class B Common Stock subject to this Election of Exchange for shares of Class A Common Stock on the books of Caliburn in accordance with the terms and requirements of the Exchange Agreement. 

 IN WITNESS WHEREOF the undersigned, by authority duly given, has caused this Election of
Exchange to be executed and delivered by the undersigned or by its duly authorized attorney. 
  

			
	 Name:
	 	  

		
	 Date:
	 	  

 EXHIBIT B 

[FORM OF] 
 CASH ELECTION NOTICE

 [Exchanging Member] 
 [Address] 

Reference is hereby made to the Exchange Agreement, dated as of             , 2018
(the “Exchange Agreement”), by and among Caliburn Holdings, LLC, a Delaware limited liability company (“Holdings”), and Caliburn International Corporation, a Delaware corporation (“Caliburn”), and
each of the Members from time to time party thereto. Capitalized terms used but not defined herein shall have the meanings given to them in the Exchange Agreement. 

Pursuant to Section 2.1(d) of the Exchange Agreement, Holdings hereby notifies you of its election to satisfy
Exchanges of Common Units, not to exceed              Common Units, pursuant to any Election of Exchange delivered by you to Caliburn and Holdings commencing on the date hereof and
continuing for the period specified in Section 2.1(d) of the Agreement through the delivery of the Cash Amount in lieu of shares of Class A Common Stock. 

 

			
	CALIBURN HOLDINGS, LLC

 
			
		
	By:	 	  

	Name:	 	
	Title:	 	

 EXHIBIT C 

FORM OF 
 JOINDER AGREEMENT 

This Joinder Agreement (“Joinder Agreement”) is a joinder to the Exchange Agreement, dated as of
                , 2018 (the “Exchange Agreement”), among Caliburn International Corporation, a Delaware corporation (“Caliburn”),
Caliburn Holdings LLC, a Delaware limited liability company (the “Holdings”), and each of the Members from time to time party thereto. Capitalized terms used but not defined in this Joinder Agreement shall have their meanings given
to them in the Exchange Agreement. This Joinder Agreement shall be governed by, and construed in accordance with, the laws of the State of New York. In the event of any conflict between this Joinder Agreement and the Exchange Agreement, the terms of
this Joinder Agreement shall control. 
 The undersigned hereby joins and enters into the Exchange Agreement having acquired Common Units in
Holdings. By signing and returning this Joinder Agreement to Caliburn, the undersigned accepts and agrees to be bound by and subject to all of the terms and conditions of and agreements of a Member contained in the Exchange Agreement, with all
attendant rights, duties and obligations of a Member thereunder. The parties to the Exchange Agreement shall treat the execution and delivery hereof by the undersigned as the execution and delivery of the Exchange Agreement by the undersigned and,
upon receipt of this Joinder Agreement by Caliburn and by Holdings, the signature of the undersigned set forth below shall constitute a counterpart signature to the signature page of the Exchange Agreement. 

Name: 

Address for Notices: 

With copies to: 

Attention: 
 Date:EX-10.3

 Exhibit 10.3 
  

 
  

 
 CALIBURN
HOLDINGS LLC 
  
  

FORM OF THIRD AMENDED AND RESTATED 

LIMITED LIABILITY COMPANY AGREEMENT 

DATED AS OF             , 2018 

THE INTERESTS REPRESENTED BY THIS THIRD AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT, AS THE SAME MAY BE AMENDED FROM TIME TO TIME, HAVE NOT BEEN
REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR UNDER ANY OTHER APPLICABLE SECURITIES LAWS. SUCH INTERESTS MAY NOT BE SOLD, ASSIGNED, PLEDGED OR OTHERWISE DISPOSED OF AT ANY TIME WITHOUT EFFECTIVE REGISTRATION UNDER SUCH
ACT AND LAWS OR EXEMPTION THEREFROM, AND COMPLIANCE WITH THE OTHER RESTRICTIONS ON TRANSFERABILITY SET FORTH HEREIN. 
  

 

 THIRD AMENDED AND RESTATED 

LIMITED LIABILITY COMPANY AGREEMENT 

OF 
 CALIBURN HOLDINGS LLC

 A Delaware Limited Liability Company 

THIS THIRD AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT (the “Agreement”) is adopted, executed and entered into
effective as of              , 2018, by and among Caliburn Holdings LLC, a Delaware limited liability company (the “Company”), and the Members. This Agreement supersedes
any and all previous limited liability company agreements of the Company. 
 BACKGROUND 

WHEREAS, the Company was formed as a Delaware limited liability company upon the execution and filing of the certificate with the Delaware
Secretary of State on October 27, 2017; 
 WHEREAS, pursuant to the Certificate, the Company’s initial name was “Janus Holdco
LLC”; 
 WHEREAS, Intermediate Janus Holdings LLC, the initial sole member of the Company, entered into that certain Limited Liability
Company Agreement, dated as of October 27, 2017 (the “Initial LLC Agreement”), to set forth in writing its rights and obligations with respect to the Company; 

WHEREAS, on December 15, 2017, the Members adopted and approved the Amended and Restated Limited Liability Company Agreement in order to
incorporate certain amendments to the Initial LLC Agreement (the “A&R LLC Agreement”); 
 WHEREAS, the Company’s
name was changed from “Janus Holdco LLC” to “Caliburn Holdings LLC” upon the filing of a Certificate of Amendment to the Certificate with the Secretary of State of the State of Delaware on June 26, 2018; 

WHEREAS, on August 14, 2018, the Board of Directors of the Company and Members adopted and approved the Second Amended and Restated
Limited Liability Company Agreement in order to incorporate certain amendments to the A&R LLC Agreement (the “Second A&R LLC Agreement”); and 

WHEREAS, in order to facilitate an initial public offering by Caliburn International Corporation, a corporation organized and existing under
the laws of the State of Delaware ( “Caliburn”), the Members that are parties hereto now wish to amend and restate the Second A&R LLC Agreement in its entirety to set forth in full the terms and conditions of their agreement
regarding the ownership and operation of the Company. 
 AGREEMENT 

NOW THEREFORE, in consideration of the mutual covenants and agreements herein and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the Members, hereby intending to be legally bound, agree as follows: 
 ARTICLE I 

GENERAL PROVISIONS 

Section 1.1 Definitions. Capitalized terms used in this Agreement and not defined herein shall have the meanings set forth on
Exhibit A attached hereto and made a part hereof. 

 Section 1.2 Formation. The Company was organized as a Delaware limited liability
company by the execution and filing of the Certificate on October 27, 2017 with the Secretary of State of the State of Delaware by an authorized person (within the meaning of the Act) under and pursuant to the Act. The rights, powers, duties,
obligations and liabilities of the Members are determined pursuant to the Act and this Agreement. To the extent that the rights, powers, duties, obligations and liabilities of any Member are different by reason of any provision of this Agreement
than what they would be in the absence of such provision, this Agreement shall, to the extent permitted by the Act, control; it being understood that in no event shall Section 18-210 of the Act (entitled
“Contractual Appraisal Rights”) apply or be incorporated into this Agreement. 
 Section 1.3 Name. The name of the
Company shall be “Caliburn Holdings LLC”. The Manager in its sole discretion may change the name of the Company at any time and from time to time. The Company’s business may be conducted under its name and/or any other name or names
deemed advisable by the Manager. 
 Section 1.4 Purpose. The purpose and business of the Company (“Business”)
shall be (i) to acquire and hold, either directly or indirectly, the membership interests and other equity securities of Caliburn and its Subsidiaries and to perform such other obligations and duties as are imposed upon the Company under this
Agreement and the other agreements contemplated hereby, (ii) to exercise all rights and powers granted to the Company (whether as a holder, either directly or indirectly, of the membership interests of Caliburn and its Subsidiaries and other
equity securities or otherwise) under the constituent documents of Caliburn and its Subsidiaries and the other agreements contemplated thereby and (iii) to engage in any other lawful act or activities incidental or ancillary thereto as the
Manager deems necessary or advisable for which limited liability companies may be organized under the Act. 
 Section 1.5 Term.
The term of the Company commenced on the date the Certificate was filed with the Office of the Secretary of State of the State of Delaware and shall continue until dissolution as determined under Section 9.1. 

Section 1.6 Principal Place of Business. The principal office of the Company shall be at such place as the Manager may designate
from time to time, which need not be in the State of Delaware, and the Company shall maintain records there. The Company may have such other offices as the Manager may designate from time to time. 

Section 1.7 Registered Office and Registered Agent. The registered office of the Company required by the Act to be maintained in
the State of Delaware shall be the office of the initial registered agent named in the Certificate or such other office (which need not be a place of business of the Company) as the Manager may designate from time to time in the manner provided by
law. The registered agent of the Company in the State of Delaware shall be the initial registered agent named in the Certificate or such other Person or Persons as the Manager may designate from time to time in the manner provided by law. 

Section 1.8 No State-Law Partnership. The Members intend that the Company shall not be a
partnership (including, without limitation, a limited partnership) or joint venture, and that no Member, Manager or officer of the Company shall be deemed to be a partner or joint venturer of any other Member, Manager or officer of the Company by
reason of execution, delivery or performance of this Agreement, for any purposes other than as set forth in the next sentence of this Section 1.8. The Members intend that the Company shall be treated as a partnership for
federal and, if applicable, state and local income tax purposes, and each Member and the Company shall file all tax returns and shall otherwise take all tax and financial reporting positions in a manner consistent with such treatment. 

 ARTICLE II 

RIGHTS AND DUTIES OF MEMBERS 

Section 2.1 Members. 

(a) Names, etc. The existing Members of the Company and their respective Common Units, reflecting the purchases through the date of
this Agreement, are set forth on Exhibit B hereto. 
 (b) Representations and Warranties of Members. Each
Member hereby severally represents and warrants to the Company and acknowledges that: 
 (i) such Member has such knowledge and experience
in financial and business matters and is capable of evaluating the merits and risks of an investment in the Company and making an informed investment decision with respect thereto; 

(ii) such Member is able to bear the economic and financial risk of an investment in the Company for an indefinite period of time; 

(iii) such Member is acquiring interests in the Company for investment only and not with a view to, or for resale in connection with, any
distribution to the public or public offering thereof; 
 (iv) the interests in the Company have not been registered under the securities
laws of any jurisdiction and cannot be disposed of unless they are subsequently registered and/or qualified under applicable securities laws and the provisions of this Agreement have been complied with; 

(v) the execution, delivery and performance by such Member of this Agreement have been duly authorized by such Member and do not require such
Member to obtain any consent or approval that has not been obtained and do not contravene or result in a default in any material respect under any provision of any law or regulation applicable to such Member or other governing documents or any
agreement or instrument to which such Member is a party or by which such Member is bound; 
 (vi) except as otherwise set forth in any
purchase agreement governing such purchase, the determination of such Member to purchase interests in the Company has been made by such Member independently of any other Member and independently of any statements or opinions as to the advisability
of such purchase or as to the properties, business, prospects or condition (financial or otherwise) of the Company and its Subsidiaries that may have been made or given by any other Member or by any agent or employee of any other Member; and 

(vii) this Agreement is valid, binding and enforceable against such Member in accordance with its terms, except as may be limited by
bankruptcy, insolvency, reorganization, moratorium and other similar laws of general applicability relating to or affecting creditors’ rights or general equity principles (regardless of whether considered at law or in equity). 

Section 2.2 Reorganization. In order to affect the Reorganization, immediately prior to the “effective time” of the
Reorganization, the outstanding Class A Units, Class AA Units, Class C Units, Class E Units and Class G Units (each as defined in the Second A&R LLC Agreement) of the Company shall be exchanged by the Existing Members
holding such Interests for the number of Common Units set forth next to each Existing Member on Exhibit C hereof. The Manager shall amend Exhibit C from
time-to-time to reflect changes in such information. 

Section 2.3 Caliburn’s Common Unit Purchases. Following the Reorganization, and simultaneous with the closing of the IPO,
Caliburn shall purchase Common Units from the Company at a price per Unit of $             and purchase from the Existing Members an aggregate of

 
Units pursuant to the terms of the Reorganization Agreement.] Immediately following the consummation of the foregoing transactions, the Common Units held by the Members and their respective
Company percentages are set forth on Exhibit C hereto. The parties hereto acknowledge and agree that the purchase(s) from the Company will result in “revaluation of partnership property” and corresponding adjustments to Capital
Account balances as described in Section 1.704-1(b)(2)(iv)(f) of the Treasury Regulations. 

Section 2.4 Number of Votes. Except as otherwise required by the Act, Members holding Common Units shall not be entitled to any
voting rights. 
 Section 2.5 Governance Rights of Members. Only such matters as require Member appraisal pursuant to the Act or
as may otherwise be specified herein, shall require the vote of the Members, and in any such event it shall require the vote of Members representing a majority of the Common Units or such other group of members as may be specified herein. 

Section 2.6 General. Subject to the foregoing, the Members hereby delegate management of the Company to the Manager on the terms
and conditions of ARTICLE III hereof. 
 Section 2.7 Liability of Members. 

(a) Except as otherwise required by applicable law and as expressly set forth in this Agreement, no Member shall have any personal liability
whatsoever in such Member’s capacity as a Member, whether to the Company, to any of the other Members, to the creditors of the Company or to any other third party, for the debts, liabilities, commitments or any other obligations of the Company
or for any losses of the Company. Each Member shall be liable only to make such Member’s Capital Contribution to the Company, if any, and the other payments provided expressly herein, if any. 

(b) In accordance with the Act and the laws of the State of Delaware, a member of a limited liability company may, under certain
circumstances, be required to return amounts previously distributed to such member. It is the intent of the Members that no distribution to any Member pursuant to Article VI and/or Article XI shall be deemed a return of money or other
property paid or distributed in violation of the Act. The payment of any such money or distribution of any such property to a Member shall be deemed to be a compromise within the meaning of the Act, and the Member receiving any such money or
property shall not be required to return to any Person any such money or property. However, if any court of competent jurisdiction holds that, notwithstanding the provisions of this Agreement, any Member is obligated to make any such payment, such
obligation shall be the obligation of such Member and not of any other Member. 
 Section 2.8 Meetings of Members and Notice/Action
by Written Consent. Meetings of the Members shall be held at such times and upon such terms and conditions as the Manager shall from time to time determine. Any actions required or permitted by this Agreement to be taken by the Members may be
taken without a meeting if the action is approved, in a written consent of the Members entitled to vote on such action, by Members holding not less than the minimum number of Units that would be necessary to authorize such action in accordance with
the provisions of this Agreement; provided, however, that a copy of any written consent must be sent to all Members as so as practical after the taking of such action by written consent and filed with the records of the Company. 

Section 2.9 Power to Bind the Company. No Member, other than the Manager or an authorized officer of the Company, has the
authority or power to act for or on behalf of the Company, to do any act that would be binding on the Company or to make any expenditures on behalf of the Company. 

Section 2.10 Certification of Interests. Interests shall not be certificated, unless the Manager shall determine otherwise. 

 ARTICLE III 

MANAGEMENT 

Section 3.1 Management; Responsibility. 

(a) The Manager shall have all the rights and powers to manage and direct the affairs of the Company, subject to the provisions of the Act and
any limitations in the Company’s certificate of formation and this Agreement as to actions required to be authorized or approved by the Members. Without prejudice to such general powers, but subject to the same limitations, the Manager shall
have the following powers: (1) to determine the overarching strategy and direct the overall business of the Company; (2) to determine the compensation of the Manager and officers of the Company (including officers employed by Affiliates of
the Company); (3) to determine the budget; (4) to establish overall policies and mandate procedures for the conduct, promotion or attainment of the business, purposes or activities of the Company; (5) to oversee the day-to-day business and affairs of the Company and to make such rules and regulations therefor not inconsistent with law or with the Company’s certificate of formation or
with this Agreement, as the Manager shall deem to be in the best interests of the Company; (6) to appoint and remove at the Manager’s pleasure the officers, agents, employees and consultants of the Company (including officers employed by
Affiliates of the Company), and prescribe their duties; (7) to borrow money and incur indebtedness for the purposes of the Company and to cause to be executed and delivered therefor, in the Company’s name, promissory notes, bonds,
debentures, deeds of trust, mortgages, pledges, hypothecations or other evidences of debt and securities therefor; (8) to acquire real and personal property, arrange financing and enter into contracts; (9) subject to
Section 6.2, to determine the amount and timing of any distributions to the Members; and (10) to make all other arrangements and do all things which are necessary or convenient to the conduct, promotion or attainment
of the business, purposes or activities of the Company. It is the intent of the parties hereto that the Manager shall be deemed to be a “manager” of the Company (as defined in Section 18-101(10)
of the Act) for all purposes under the Act. 
 (b) Notwithstanding any other provision of this Agreement (but subject to the last sentence
of this Section 3.1(b) and ARTICLE XII of this Agreement), none of the Members or any of their respective Affiliates, members, equity holders, partners, employees, agents, portfolio companies, representatives or
other related persons (each, a “Related Person”), shall be liable to the Company or any other Member or person for any breach of any implied duty of loyalty or due care or any other fiduciary duty, other than as a result of any acts
or omissions not committed in good faith or that involve intentional misconduct. To the extent that, at law or in equity, any Related Person has duties (including fiduciary duties) and liabilities relating thereto to the Company or to another Member
or the Manager, (i) the Related Person acting under this Agreement shall not be liable to the Company or to any such other Member or the Manager (if applicable) to the extent such Related Person acted in good faith absent intentional misconduct
and in accordance with the provisions of this Agreement and (ii) the Related Person’s duties and liabilities are hereby restricted by and subject in all respects to the provisions of this Agreement. Notwithstanding anything contained
herein, the provisions of this Section 3.1(b) shall not apply to any Member or Manager in his capacity as a Manager or an executive officer or employee of the Company. 

Section 3.2 Sole Manager. Caliburn shall be the sole Manager of the Company. 

Section 3.3 No Resignation. Caliburn may not resign as the Manager of the Company. 

 Section 3.4 Removal. The Courts of the State of Delaware may remove the Manager
for “Cause” at any time upon request of Members holding a majority of the Common Units. For purposes of this provision, “Cause” shall mean: 

(a) the continuing failure or refusal of the Manager to perform those material duties that he is required to perform in furtherance of the
business of the Company after his receipt of a detailed notice setting forth such failures and a reasonable time period to cure; 
 (b) the
Manager engaging in an activity that is intentionally injurious to the Company; 
 (c) the Manager committing a fraud against the Company or
using or appropriating for personal use or benefit funds or property of the Company when not authorized to do so; or 
 (d) the Manager
committing an act of gross negligence or willful misconduct regarding the business of the Company. 
 Section 3.5 Vacancies. Any
vacancy occurring for any reason in the position of Manager of the Company may be filled by the affirmative vote of holders of a majority of the Common Units. A Manager elected to replace Caliburn (or a successor to such Manager) shall hold office
until his earlier resignation or removal. 
 Section 3.6 Delegation of Authority. The Manager may delegate to one or more
employees of the Company, each of whom will serve at the pleasure of the Manager, the authority to carry out the Company’s day-to-day business activities (each of
whom in such capacity may be referred to individually in this Agreement as an “officer” and collectively as “officers”). Any authority delegated by the Manager under this section is subject to the limitations contained in this
Agreement, nonwaivable provisions of applicable law and the specific authorization given by the Manager; provided, however, that any authorization may be amended, modified, or revoked by a vote of the Manager at any time. For
convenience of reference, the Manager may designate officers of the Company including, without limitation, chairman of the board, chief executive officer, president, chief operating officer, chief financial officer, vice president, secretary,
assistant secretary, treasurer or assistant treasurer. Such officers shall have the duties assigned by the Manager. 
 Section 3.7
Written Action of Manager. The Manager shall not be required to hold meetings and may take actions in writing. 
 Section 3.8
Liability of Manager. The Manager shall not be liable as such for the liabilities, debts or obligations of the Company. The failure of the Company to observe any formalities or requirements relating to the exercise of its powers or management
of its business or affairs under this Agreement or the Act shall not be grounds for imposing personal liability on the Manager for liabilities, debts or obligations of the Company. 

Section 3.9 Conflict of Interest Transactions. Anything in this Agreement to the contrary notwithstanding, no Member shall be
prohibited from dealing, on commercially reasonable terms, with any person or entity deemed to be an Affiliate of any Member. 

Section 3.10 Devotion of Time to Company. Affiliates of the Manager may engage in any other business or non-business activity, whether or not similar to the Business of the Company, and neither the Company nor any Member shall have any right to any earnings, profits or other interest or rights with respect to such
other activities. 
 Section 3.11 Compensation to Manager. The Manager may receive reasonable compensation at its discretion. The
Manager shall be reimbursed for all reasonable costs and expenses incurred by it on behalf of the Company in accordance with the Company’s customary reimbursement policies. 

 Section 3.12 Limitations on Authority of Manager. The Manager shall have no
authority to:(a) do any act in contravention of this Agreement; 
 (b) do any act on behalf of the Company that would make it impossible to
carry on the ordinary business of the Company; 
 (c) confess a judgment against the Company; or 

(d) possess Company property, or assign the rights in specific Company property, other than for a Company purpose. 

ARTICLE IV 

CONTRIBUTIONS/CAPITAL ACCOUNTS/LOANS/TAX BASIS 

Section 4.1 Units Held by Members. Immediately after the Reorganization, the Members hold the number of Common Units set forth on
Exhibit C attached hereto. 
 Section 4.2 Additional Capital Contributions. No Member shall be required to make any
additional Capital Contributions without the consent of such Member. 
 Section 4.3 Capital Accounts; Voluntary Withdrawals.

 (a) Maintenance of Capital Accounts. The Company shall maintain a separate Capital Account for each Member on its books initially
reflecting an amount equal to such Member’s initial Capital Contribution. Each Member’s Capital Account shall be: 

(a) increased by any additional Capital Contributions made by such Member pursuant to the terms of this Agreement, any
subscription agreement entered into by the Company and such Member, and such Member’s share of Net Profits and any other items of income and gain allocated to such Member pursuant to Article VI; 

(b) decreased by such Member’s share of Net Losses and any other deduction allocated to such Member pursuant to Article
VI and any Distributions made to such Member of cash or the Fair Market Value of any other property (net of liabilities assumed by such Member and liabilities to which such property is subject); and 

(c) adjusted as otherwise required by the Code and the Treasury Regulations issued thereunder, including but not limited to,
the rules of Treasury Regulation Section 1.704-1(b)(2)(iv). 
 Any references in this Agreement to the Capital
Account of a Member shall be deemed to refer to such Capital Account as the same may be increased or decreased from time to time as set forth above. Except as specifically permitted pursuant to this Agreement, no Member shall have the right to
withdraw from the Company or make demand for withdrawal of any part of such Member’s Capital Account. 
 (b) No Member shall be
required to pay to the Company or any other Member any deficit or negative balance that may exist from time to time in such Member’s Capital Account. 

Section 4.4 Loans. If the Company borrows funds from, or loans funds to, any Member, a loan account shall be established and
maintained for such lending Member or, as the case maybe, for the Company. Subject to applicable provisions of the Code, the borrower shall pay interest at a rate acceptable to the lender. 

 Section 4.5 Interest. No interest shall be paid by the Company with respect to
any Capital Contributions or Capital Account balances, and no Member shall have any right (a) to demand, except as otherwise specifically provided herein, the return of such Member’s Capital Contribution or any other Distribution from the
Company (whether upon resignation, withdrawal or otherwise), except upon dissolution of the Company pursuant to Article X, or (b) to cause a partition of the Company’s assets. 

Section 4.6 Allocation of Liabilities. For purposes of determining the income tax basis of each Member’s interest in the
Company, the liabilities of the Company, if any, shall be allocated among the Members pursuant to Section 752 of the Code and the Regulations promulgated thereunder. 

ARTICLE V 
 ALLOCATIONS

 Net Profits and Net Losses and other items of Company income, gain, credit, loss and deduction shall be allocated each Company Year
among the Members as follows: 
 Section 5.1 Net Profits and Net Losses. For each Taxable Year of the Company, after adjusting
each Member’s Capital Account for all Capital Contributions and Distributions during such Taxable Year and all special allocations pursuant to Section 5.3 with respect to such Taxable Year, all Net Profits and Net Losses shall be allocated
to the Members’ Capital Accounts in a manner such that, as of the end of such Taxable Year, the Capital Account of each Member shall equal, as nearly as possible, (a) the amount that would be distributed to such Member, determined as if
the Company were to dispose of all of its assets for the Book Values thereof and distribute the proceeds thereof pursuant to Section 9.4, minus (b) the sum of (i) such Member’s share of Company Minimum Gain (as determined
according to Treasury Regulation Sections 1.704-2(d) and (g)(3)) and Member Minimum Gain (as determined according to Treasury Regulation Section 1.704-2(i)), and
(ii) the amount, if any, such Member is obligated to contribute to the capital of the Company as of the last day of such Taxable Year, provided, however, that no deductions or losses may be allocated to a Member to the extent such an allocation
would result in or increase an Adjusted Capital Account Deficit for such Member. 
 Section 5.2 In Kind-Distributions. At any
time, and from time to time, at the direction of the Manager, the Company may distribute to the Members securities or other property held by the Company. In any Distribution pursuant to this Section 5.2, the securities or
property so distributed shall be distributed among all of the Members in the same proportions as cash equal to the Fair Market Value of such property would be distributed among the Members pursuant to Section 6.1. The
Manager may require as a condition of distribution of securities hereunder that the Members execute and deliver such documents as the Manager reasonably may deem necessary or appropriate to ensure compliance with all federal and state securities
laws that apply to such Distribution and any further transfer of the distributed securities, and may appropriately legend the certificates that represent such securities to reflect any restriction on transfer with respect to such laws. 

Section 5.3 Regulatory Allocations and Special Allocations. Notwithstanding the provisions of
Section 5.2: 
 (a) Nonrecourse Deductions. Nonrecourse Deductions shall be allocated to the Members, pro rata in
proportion to their respective Company Percentages. 
 (b) Minimum Gain Chargeback. If there is a net decrease in Company Minimum Gain
during any Taxable Year, each Member shall be specially allocated items of income or gain for such Taxable Year (and, if necessary, subsequent Taxable Years) in an amount equal to such Member’s share of such net decrease in Company Minimum
Gain, determined in accordance with Treasury Regulation Section 1.704-2(g). Allocations pursuant to the previous sentence shall be made in proportion to the respective amounts required to be allocated to
each Member pursuant thereto. The items to be so allocated shall be 

 
determined in accordance with Treasury Regulations § 1.704-2(f)(6) and § 1.704-2(j)(2). This
Section 5.3(b) is intended to comply with the minimum gain chargeback requirement in Treasury Regulations § 1.704-2(f) and shall be interpreted consistently therewith. 

(c) Member Nonrecourse Deductions. Member Nonrecourse Deductions shall be allocated in the manner required by Treasury Regulation Section 1.704-2(i). 
 (d) Member Minimum Gain Chargeback. Except as otherwise provided in Treasury
Regulation Section 1.704-2(i)(4), if there is a net decrease in Member Minimum Gain during any Taxable Year, each Member that has a share of such Member Minimum Gain shall be specially allocated items of
income or gain for such Taxable Year (and, if necessary, subsequent Taxable Years) in an amount equal to that Member’s share of the net decrease in Member Minimum Gain. Items to be allocated pursuant to this Section 5.04(d) shall be
determined in accordance with Treasury Regulation Sections 1.704-2(i)(4) and 1.704-2(j)(2). This Section 5.04(d) is intended to comply with the minimum gain
chargeback requirements in Treasury Regulation Section 1.704-2(i)(4) and shall be interpreted consistently therewith. 

(e) Qualified Income Offset. If any Member unexpectedly receives any adjustments, allocations or Distributions described in Treasury
Regulation Section 1.704-l(b)(2)(ii)(d)(4), (5) or (6), items of income and gain of the Company shall be specially allocated to such Member in an amount and manner sufficient to eliminate the Adjusted
Capital Account Deficit created by such adjustments, allocations or Distributions as quickly as possible. This Section 5.04(e) is intended to comply with the qualified income offset requirement in Treasury Regulation Section 1.704-1(b)(2)(ii)(d) and shall be interpreted consistently therewith. 
 (f) Code
Section 754 Adjustment. To the extent an adjustment to the adjusted tax basis of any Company asset pursuant to Code Sections 732(d), 734(b) or 743(b) is required, pursuant to Treasury Regulation
Section 1.704-1(b)(2)(iv)(m), to be taken into account in determining Capital Accounts of the Members, the amount of such adjustment to the Capital Accounts shall be treated as an item of gain (if the
adjustment increases the basis of the asset) or loss (if the adjustment decreases such basis) of the Company, and such gain or loss shall be specially allocated to the Members in a manner consistent with the manner in which their Capital Accounts
are required to be adjusted pursuant to such Treasury Regulations section. 
 (g) Regulatory Allocation. The allocations set forth in
Sections 5.3(a) through (e) (the “Regulatory Allocations”) are intended to comply with certain requirements of the Treasury Regulations under Code Section 704. Notwithstanding any other provisions of this Article V (other than
the Regulatory Allocations), the Regulatory Allocations shall be taken into account in allocating Net Profits and Net Losses among Members so that, to the extent possible, the net amount of such allocations of Net Profits and Net Losses and other
items and the Regulatory Allocations (including Regulatory Allocations that, although not yet made, are expected to be made in the future) to each Member shall be equal to the net amount that would have been allocated to such Member if the
Regulatory Allocations had not occurred. 
 Section 5.4 Code Section 704(c). In accordance with Code Section 704(c) and the Treasury
Regulations thereunder, income, gain, loss, deduction and expense with respect to any property contributed to the capital of the Company shall, solely for tax purposes, be allocated among the Members so as to take account of any variation between
the adjusted basis of such property to the Company for federal income tax purposes and its Fair Market Value at the time of contribution. If the Book Value of any Company asset is adjusted pursuant to Treasury Regulation Section 1.704-1(b)(2)(iv)(f)
as provided in the definition of Book Value, subsequent allocations of items of taxable income, gain, loss, deduction and expense to the Members with respect to such asset shall take account of any variation between the adjusted basis of such asset
for federal income tax purposes and its Book Value in the same manner as 

 
under Code Section 704(c). Allocations of tax credits, tax credit recapture and any items related thereto shall be allocated among the Members according to their interests in such items as
determined by the Manager taking into account the principles of Treasury Regulation Section 1.704-1(b)(4)(ii). Any elections or other decisions relating to such allocations shall be made by the Manager in
any manner that reasonably reflects the purpose and intent of this Agreement; provided, that the “traditional method” shall be used unless the Manager reasonably determines that another method more appropriately reflects the economic
arrangement of the parties. Allocations pursuant to this Section 5.4 are solely for federal, state and local tax purposes and shall not affect, or in any way be taken into account in computing, any Member’s Capital Account or share of Net
Profits, Net Losses, or other items or Distributions pursuant to any provision of this Agreement. 
 Section 5.5 Other Allocation
Rules. 
 (a) For purposes of determining the Net Profits, Net Losses or any other items allocable to any period, Net Profits, Net
Losses and any such other items shall be determined on a daily, monthly or other basis, as determined by the Manager using any permissible method under Code Section 706 and the Treasury Regulations thereunder. 

(b) Except as otherwise provided in this Agreement, all items of the Company’s income, gain, loss, deduction and any other allocations
not otherwise provided for shall be divided among the Members in the same proportions as they share Net Profits and Net Losses, as the case may be, for the period in question. 

(c) The Members are aware of the income tax consequences of the allocations made by this Article V and hereby agree to be bound by the
provisions of this Article V in reporting their shares of the Company’s income and loss for income tax purposes. 
 (d) The
“excess nonrecourse liabilities” of the Company within the meaning of Treasury Regulation Section 1.752-3(a)(3) shall be allocated to the Members in proportion to their respective Company
Percentages. 
 Section 5.6 Tax Consequences. The Members acknowledge that they are aware of the income tax consequences of the
allocations made by this ARTICLE V and shall be bound by the provisions of this ARTICLE V in reporting their portion of Company income and loss for Federal income tax purposes. 

ARTICLE VI 

DISTRIBUTIONS 

Section 6.1 Distributions. Distributions to the Members of Distributable Cash may be made when, as and if declared by the Manager
pursuant to Section 3.1, and such distributions to the Members shall be made pro rata in proportion to their respective Company Percentages. 

Section 6.2 Tax Distributions. 

(a) Notwithstanding the provisions of Section 6.1 and subject to contractual limitations applicable to the Company,
Distributions shall be made to each Member with respect to each Taxable Year in an amount equal to the Net Profits allocated to such Member for the Taxable Year (reduced by any prior year Losses allocated to such Member or such Member’s
predecessor, and not offset by later Net Profits) multiplied by 45% (each such amount, the “Tax Distribution Amount”). For clarity, the amount of such Distributions are understood to be calculated without regard to any adjustments
under Section 743 or Section 734 of the Code The Company shall calculate the Tax Distribution Amount on a quarterly basis based on a reasonable estimate of the Company’s income for the Taxable Year, and

 
Distributions pursuant to this Section 6.2 shall be made in four installments (“Quarterly Installments”) throughout the Taxable Year (to be made not
later than April 1, June 1, September 1 and December 1 of each Taxable Year). In the event that the sum of the Member’s Quarterly Installments for the Taxable Year is less than such Member’s Tax Distribution Amount
based on the actual income allocated to such Member for such Taxable Year, additional cash shall promptly be distributed to such Member in an amount which, when taken together with such Member’s Quarterly Installments, equals such Member’s
Tax Distribution Amount based on the actual income allocated to such Member for the Taxable Year. 
 (b) Notwithstanding the provisions of
Section 6.1 and subject to contractual limitations applicable to the Company, Distributions may be made to the Members, pro rata in proportion to each Member’s respective Company Percentage, in amounts necessary for
the Corporation to satisfy its payment obligations pursuant to the Tax Receivables Agreement, if the amounts received by the Corporation under Section 6.2(a) above is insufficient to satisfy such payment obligations, as
determined in the sole discretion of the Manager. 
 (c) For the avoidance of doubt, all distributions pursuant to this
Section 6.2 shall be made to all Members on a pro rata basis in accordance with their Company Percentages, notwithstanding the differences in the actual tax liabilities of such Members. Distributions under this
Section 6.2 shall reduce subsequent distributions made under Section 6.1. 

Section 6.3 Amounts Withheld. 

(a) Withholding for Taxes. All amounts withheld pursuant to the Code or any provision of any state or local tax law with respect to any
payment, distribution or allocation to the Company or the Members shall be treated as amounts distributed to the Members pursuant to this ARTICLE VI for all purposes under this Agreement. The Manager is authorized to withhold from payments
and distributions, or with respect to allocations, to the Members and to pay over to any Federal, state or local government any amounts required to be so withheld and paid over pursuant to the Code or any other applicable law or regulation, and such
amounts shall be allocated to the Member with respect to which such amount was withheld. Each Member and former Member shall, to the fullest extent permitted by law, indemnify and hold harmless the Company, the Manager and each other Person who is
or who is deemed to be the responsible withholding agent or paying agent for United States federal, state or local or non-U.S. income tax purposes against all claims, liabilities and expenses relating to the
Company’s, the Manager’s or such other Person’s obligation to withhold and to pay over, or otherwise to pay, any withholding or other taxes payable by the Company, the Manager or any of their Affiliates with respect to such Member or
former Member based on such Member’s or former Member’s status or as a result of such Member’s or former Member’s ownership of Units, Transfer of Units (including by Exchange) or participation in the Company, as determined and
apportioned in the good faith and reasonable discretion of the Manager. 
 (b) Withholding for an Adjustment Liability. In the event
the Company becomes liable for an adjustment in respect of the distributive share of a Member (or a former Member) under Section 6225 of the Code as applicable under the Partnership Audit Provisions (such liability, as reasonably determined by
the Partnership Representative, the “Adjustment Liability”), the Company is hereby authorized and directed by each Member to withhold from the distributions or other amounts payable to such Member in the amount of the Adjustment
Liability and to remit such amount to the Internal Revenue Service or as may otherwise be required. The amount of the remitted Adjustment Liability shall be treated for all purposes of the Agreement as having been distributed or paid to the Member
(or former Member) in question. If the Partnership Representative determines at any time that the Adjustment Liability with respect to a particular Member (or former Member) exceeds the amount of distributions or other amounts payable to such Member
(or former Member) at such time (an “Adjustment Liability Shortfall”), the Member (or former Member) in question shall as soon as practicable after receiving written notice from the Partnership Representative of the amount of such
Adjustment Liability Shortfall make a cash 

 
contribution to the Company equal to the amount of such Adjustment Liability Shortfall, which the Company shall use to effectuate the remittance. The amount of the Adjustment Liability Shortfall
so contributed shall not be treated as a Capital Contribution for purposes of the Agreement and the associated remittance to the taxing authority shall not be treated as a distribution for purposes of the Agreement. The obligations of each Member
(or former Member) under this Section 6.3(b) shall remain binding for as long as is necessary to resolve the income tax matters relating the Company and for Members and former Members to satisfy their payment obligations. Additionally, the
obligations of each Member (or former Member) under this Section 6.3(b) shall survive the transfer or redemption by such Member of its Units and the termination of this Agreement or the dissolution of the Company and shall apply jointly and
severally to such Member and former Member and direct or indirect transferees or successors to such Member or former Member’s interests. 

ARTICLE VII 
 ISSUANCE OF
ADDITIONAL UNITS 
 Section 7.1 Units. Interests in the Company shall be represented by Units, or such other securities of
the Company, in each case as the Manager may establish in its discretion in accordance with the terms and subject to the restrictions hereof. Immediately after the “effective time” of the Reorganization, the Units will be comprised of a
single class of Common Units. To the extent required pursuant to Section 7.2, the Manager may create one or more classes or series of Common Units or preferred Units solely to the extent they are in the aggregate
substantially equivalent to a class of common stock of Caliburn or class or series of preferred stock of Caliburn; provided that as long as there are any Members of the Company (other than Caliburn), then no such new class or series of Units may
deprive such Members of, or dilute or reduce, the pro rata share of all interests they would have received or to which they would have been entitled if such new class or series of Units had not been created except to the extent (and solely to the
extent) the Company actually receives cash in an aggregate amount, or other property with a Market Price in an aggregate amount, equal to the pro rata share allocated to such new class or series of Units and the number thereof issued by the Company.

 Section 7.2 Authorization and Issuance of Additional Units. 

(a) The Company shall undertake all actions, including, without limitation, a reclassification, distribution, division or recapitalization,
with respect to the Common Units, to maintain at all times a one-to-one ratio between the number of Common Units owned by Caliburn and the number of outstanding shares
of Class A Common Stock, disregarding, for purposes of maintaining the one-to-one ratio, (i) unvested shares of Class A Stock issued pursuant to Incentive
Plans, (ii) treasury stock or (iii) preferred stock or other debt or equity securities (including without limitation warrants, options or rights) issued by Caliburn that are convertible into or exercisable or exchangeable for Class A
Common Stock (except to the extent the net proceeds from such other securities, including any exercise or purchase price payable upon conversion, exercise or exchange thereof, has been contributed by Caliburn to the equity capital of the Company).
In the event Caliburn issues, transfers or delivers from treasury stock or repurchases Class A Common Stock in a transaction not contemplated in this Agreement, the Manager shall take all actions such that, after giving effect to all such
issuances, transfers, deliveries or repurchases, the number of outstanding Common Units owned by Caliburn will equal on a one-for-one basis the number of outstanding
shares of Class A Common Stock. In the event Caliburn issues, transfers or delivers from treasury stock or repurchases or redeems Caliburn’s preferred stock in a transaction not contemplated in this Agreement, the Manager shall have the
authority to take all actions such that, after giving effect to all such issuances, transfers, deliveries, repurchases or redemptions, Caliburn holds (in the case of any issuance, transfer or delivery) or ceases to hold (in the case of any
repurchase or redemption) equity interests in the Company that (in the good faith determination by the Manager) are in the aggregate substantially equivalent to the outstanding preferred stock of Caliburn so issued, transferred, delivered,
repurchased or redeemed. The Company shall not undertake any subdivision (by any Common Unit split, 

 
Common Unit distribution, reclassification, recapitalization or similar event) or combination (by reverse Common Unit split, reclassification, recapitalization or similar event) of the Common
Units that is not accompanied by an identical subdivision or combination of Class A Common Stock to maintain at all times a one-to-one ratio between the number of
Common Units owned by Caliburn and the number of outstanding shares of Class A Common Stock, unless such action is necessary to maintain at all times a one-to-one
ratio between the number of Common Units owned by Caliburn and the number of outstanding shares of Class A Common Stock as contemplated by the first sentence of this Section 7.2. Simultaneously with any Common Unit
split, Common Unit distribution, reclassification, recapitalization or similar event) or combination (by reverse Common Unit split, reclassification, recapitalization or similar event) of the Common Units, Caliburn shall implement a comparable
adjustment to the Class B Common Stock so as to maintain at all times a one-to-one ratio between the number of Common Units owned by Members other than Caliburn and
the number of outstanding shares of Class B Common Stock. 
 (b) The Company shall be permitted to issue additional Units or other
equity securities in the Company only to the Persons and on the terms and conditions provided for in, this Section 7.2. Subject to the foregoing, the Manager may cause the Company to issue additional Common Units authorized
under this Agreement at such times and upon such terms as the Manager shall determine, and the Manager shall amend this Agreement as necessary in connection with the issuance of additional Common Units and admission of additional Members under this
Section 7.2 without the requirement of any consent or acknowledgement of any other Member. 
 ARTICLE VIII

 TRANSFER OF COMMON UNITS 

Section 8.1 Restrictions on Members. Except as expressly permitted in this Agreement, or as consented to by the Manager, no Member
shall directly or indirectly (including through the sale of the Member by its parent entity or equityholders), sell, transfer, assign, give, bequeath, devise, donate, exchange, pledge, hypothecate, enter into a derivative contract or similar
arrangement with respect to, encumber, distribute or otherwise dispose of, either voluntarily or by operation of law (a “Transfer”), all or any part of the Common Units or any rights or interests therein, whether now owned or
hereafter acquired; provided, however, that: 
 (a) A Member may Transfer all or any portion of his or her Units, together with an equal
number of shares of Class B Common Stock, in exchange for an equal number of shares of Class A Common Stock or cash to Caliburn pursuant to the terms of one or more Exchange Agreements, 

(b) An individual Member may Transfer all or any portion of his or her Units without consideration to its Family Group if such Member is
treated as the owner of such Units within the meaning of Section 676 of the Code provided that such Transfer complies with the requirements of Section 8.2, and 

(c) An Institutional Member may Transfer all or any portion of its Units to a partner, shareholder, member or affiliated investment fund of
such Member, provided such Transfer complies with requirements Section 8.2. 
 The Transfers described in
Section 8.1(b) through Section 8.1(c), are “Permitted Transfers,” and the transferees in such Permitted Transfers are “Permitted Transferees.” Any transfer in violation of the terms of
this Agreement shall be null and void ab initio and without any force or effect. No Member shall avoid the provisions of this Agreement by making one or more Transfers to one or more Permitted Transferees and then disposing of all or any
portion of such party’s interest in any such Permitted Transferee, and any Transfer or attempted Transfer in violation of this covenant shall be null and void ab initio. A Permitted Transferee pursuant to this
Section 8.1 may Transfer its, his or her Units pursuant to this Section 8.1 only to the Member who transferred such Units to such Permitted Transferee (the

 
“Transferor Member”) or to a person that would be a Permitted Transferee of such Transferor Member at the time of such subsequent Transfer. Any Unit Transferred by a Member shall
remain subject to the same restrictions that were applicable to such Unit while held by such Member. The Company shall not, except for Transfers or issuances made in accordance with the terms and conditions of this Agreement, cause or permit the
issuance or Transfer of any Unit to be made on its books. 
 Each Member that is not an individual agrees and acknowledges that (i) any
direct or indirect transfer, issuance, redemption or other similar transaction in which the beneficial ownership of the equity interests in such Member changes shall be deemed a “Transfer” hereunder and shall be subject mutatis mutandis
to the restrictions set forth in this ARTICLE VIII, (ii) such Member shall cause such Transfer to be made only in compliance with this Agreement as if the interest so transferred were a Unit and (iii) in the event that any
direct or indirect beneficial owner of such Member effects any such Transfer of the equity interests of such Member, other than in compliance with the terms of this Agreement (as if the interest so transferred were a Unit), such Member shall be in
breach of this Agreement (regardless of whether such Member had the right to prohibit or impede such Transfer or had knowledge of such Transfer). Notwithstanding the foregoing, but without by implication in any way impacting any Permitted Transfers,
(x) in no event shall the transfer, issuance or redemption of limited partnership interests in an Institutional Member (or any beneficial owner of an Institutional Member) that is a fund be deemed a “Transfer” hereunder,
(y) nothing in this ARTICLE VIII shall restrict any Transfer of equity interests in an Institutional Member or the ultimate parent of an Institutional Member (or in any corporation, trust, limited liability company, general or limited
partnership or other entity controlling or under common control with a fund that beneficially owns equity interests of an Institutional Member) and (z) in no event shall a sale of Michael Baker Holdings, LLC or Michael Baker International, LLC
(whether by sale of assets, sale of equity interests, merger, combination, reorganization or any other transaction that results in a change of control of either of them) be deemed a “Transfer” hereunder. 

Section 8.2 Conditions Precedent to Transfer. 

(a) Any implication in this ARTICLE VIII to the contrary notwithstanding, no Transfer shall be effective unless there shall be
furnished to the Manager evidence in form and substance reasonably satisfactory to the Manager (which shall, if requested by the Manager, include an opinion of counsel reasonably satisfactory to the Manager and obtained at the sole expense of the
intended transferor) that: 
 (i) the proposed Transfer is exempt from the registration requirements of the Securities Act of 1933, as from
time to time amended, and will not result in a violation of any applicable state blue sky or other securities laws; 
 (ii) the proposed
transferee (A) accepts in writing all the terms and provisions of this Agreement and the purchase agreement applicable to the transferor with respect to the Units being transferred; and (B) has paid all reasonable expenses in connection
with its admission as a Member; 
 (iii) all debts and obligations (if any) of the transferor Member to the Company with respect to the
transferred Units (including without limitation any due, but unpaid, Capital Contributions) have been paid; 
 (iv) the proposed Transfer
does not result in a violation of applicable laws; 
 (v) the proposed Transfer would not cause the Company to become, with respect to any
employee benefit plan subject to Title I of ERISA, a “party-in-interest” (as defined in ERISA Section 3(14)) or a “disqualified person” (as
defined in Code Section 4975(c)); 

 (vi) the proposed Transfer would not, in the opinion of legal counsel to the Company, cause
any portion of the assets of the Company to constitute assets of any employee benefit plan pursuant to Department of Labor Regulations Section 2510.2-101; 

(vii) the proposed Transfer is in compliance with, and does not cause the Company to lose its status as a partnership for purposes of, laws
governing federal and state income taxes; 
 (viii) the proposed Transfer is not made to any person who lacks the legal right, power or
capacity to own Units; 
 (ix) the proposed Transfer does not cause the Company to become a “publicly traded partnership,” as such
term is defined in Code Section 469(k)(2) or Code Section 7704(b); 
 (x) the proposed Transfer does not cause the Company to
become a reporting company under the Exchange Act; and 
 (xi) the proposed Transfer does not subject the Company to regulation under the
Investment Company Act of 1940, the Investment Advisors Act of 1940 or ERISA, each as amended. 
 Section 8.3 Transfer
Guidelines. The Manager shall use reasonable best efforts to be eligible for the 100-partner private placement safe harbor (within the meaning of Regulations
Section 1.7704-1(h), and shall have the discretion to establish reasonable transfer guidelines in order to comply with any of the safe harbor provisions of Regulations
Section 1.7704-1, as it reasonably determines to be necessary based on the advice of counsel. 

Section 8.4 Rights of Assignees. Subject to Section 8.5, an Assignee of a Unit has no right to
participate in the management of the business and affairs of the Company or to become a Member. The Assignee is only entitled to receive allocations of Net Profits and Net Losses, and distributions of Distributable Cash and capital attributable to
the Unit. 
 Section 8.5 Admission of Substitute Members. An Assignee of a Unit shall be admitted as a Substitute Member, and
admitted to all the rights of the Member who initially assigned the Unit, only upon compliance with the requirements of Section 8.1 and Section 8.2. If so admitted, the Substitute Member shall have
all of the rights and powers, and shall be subject to all the restrictions and liabilities, of the Member assigning the Unit. Except as otherwise agreed by the Company, the admission of a Substitute Member shall not release the Member assigning the
Unit from any liability to the Company that may have existed prior to such approval. 
 Section 8.6 Creditors of Members. In no
instance shall a creditor of a Member be entitled to rights greater than those of an Assignee set forth in Section 8.5 above. 

Section 8.7 Paramount Provision. The parties to this Agreement expressly acknowledge and agree that the restrictions on transfer
contained herein (i) are reasonable and necessary for the efficient operation of the Company, and (ii) are not, and shall not be construed as being, an unlawful restraint on alienation of a Common Unit. 

Section 8.8 Effect of Incapacity. Except as otherwise provided herein, the Incapacity of a Member shall not dissolve or terminate
the Company. In the event of such Incapacity, the executor, administrator, guardian, trustee or other personal representative of the Incapacitated Member shall be deemed to be the assignee of such Member’s Interest and may, subject to the terms
and conditions set forth in Section 8.1, become a Substitute Member. 
 Section 8.9 No Appraisal Rights. No
Member shall be entitled to any appraisal rights with respect to such Member’s Interests, whether individually or as part of any class or group of Members, in 

 
the event of a liquidation, dissolution, merger, consolidation, conversion, sale of the Company or other transaction involving the Company, any Subsidiary, or any of its or their securities,
unless such rights are expressly provided by the agreement of merger, agreement of consolidation or other document effectuating such transaction. 

Section 8.10 Covenant Not to Withdraw. Each Member hereby covenants and agrees that he, she or it has entered into this Agreement
based on its expectation that all Members will continue as Members and carry out the duties and obligations undertaken by them hereunder and that, except pursuant to a Transfer of all of such Member’s Interests in accordance with the terms of
this Agreement, such Member hereby covenants and agrees not to withdraw or attempt to withdraw from the Company. 
 ARTICLE IX

 DISSOLUTION 

Section 9.1 Events of Dissolution. The Company shall be dissolved upon the first to occur of the following events: 

(a) unanimous decision of the Manager and Members; or 

(b) the entry of a decree of judicial dissolution of the Company under Section 18-802 of the Act;

 The Members hereby agree that the Company shall not dissolve prior to the occurrence of an event of dissolution described in this
Section 9.1 and that no Member shall seek a dissolution of the Company under Section 18-801(3) of the Act. 

Section 9.2 Statement of Assets. Upon a termination of the Company, each of the Members shall be furnished with a statement,
certified by the Company, setting forth the assets and liabilities of the Company as of the date of complete dissolution. 

Section 9.3 Execution of Documents. The Manager shall have full authority to make, execute, deliver and record any and all
documents required or deemed necessary or desirable by it to effect and reflect the termination and dissolution of the Company. 

Section 9.4 Winding-up and Distribution of Assets. Upon the occurrence of an event of
dissolution described in Section 9.1 hereof, the Company shall cease to carry on its business and the Manager shall wind up the Company’s affairs and dissolve the Company in accordance with the provisions of Section 18-804 of the Act and as hereinafter set forth: 
 (a) Prior to any distribution to the
Members, the Manager shall set aside from the assets of the Company sufficient assets to be applied to the payment of creditors other than Members and their Affiliates, in the order of priority provided by law (whether by making immediate payment or
the making or reasonable provision for payment thereof). 
 (b) After the payment required by Section 9.4(a)
hereof and after giving effect to all contributions, distributions and allocations for all periods, any remaining assets of the Company shall be distributed in accordance with Section 6.1. 

(c) No Member shall receive additional compensation for any services performed pursuant to this ARTICLE X. 

Section 9.5 Compliance with Certain Requirements of Regulations; Deficit Capital Accounts. If any Member has a deficit balance in his
Capital Account (after giving effect to all contributions, distributions and allocations for all Company Years, including the Company Year during which such 

 
liquidation occurs), such Member shall have no obligation to make any contribution to the capital of the Company with respect to such deficit, and such deficit shall not be considered a debt owed
to the Company or to any other third-party for any purpose whatsoever. In the discretion of the Manager, a pro rata portion of the distributions that would otherwise be made to the Members pursuant to this ARTICLE IX
may be: 
 (a) distributed to a trust established for the benefit of the Members for the purposes of liquidating Company assets, collecting
amounts owed to the Company, and paying any contingent or unforeseen liabilities or obligations of the Company. The assets of any such trust shall be distributed to the Members from time to time, in the reasonable discretion of the Manager, in the
same proportions as the amount distributed to such trust by the Company would otherwise have been distributed to the Members pursuant to Section 9.4 hereof; or 

(b) withheld to provide a reasonable reserve for Company liabilities (contingent or otherwise) and to reflect the unrealized portion of any
installment obligations owed to the Company, provided that such withheld amounts shall be distributed to the Members as soon as practicable. 

Section 9.6 Rights of Members. Except as otherwise provided in this Agreement, each Member shall look solely to the property of
the Company for the return of its Capital Contribution or any loan he has made and shall have no right or power to demand or receive property other than cash from the Company. If the assets of the Company remaining after payment or discharge of the
debts or liabilities of the Company are insufficient to return any such loan or a Member’s Capital Contribution, the Members shall have no recourse against the Company or any Member. 

Section 9.7 Allocations During Period of Liquidation. During the period commencing on the first day of the Company Year during
which an event of dissolution occurs and ending on the date on which all of the assets of the Company have been distributed to the Members pursuant to Section 9.4 hereof, the Members shall continue to share Net Profits, Net
Losses, gain, loss, and other items of Company income, gain, loss or deduction in the manner provided in ARTICLE V hereof. 

Section 9.8 Character of Liquidating Distribution. All payments made in liquidation of the Units of a Member shall be made in
exchange for the Units of such Member in Company property pursuant to Section 736(b)(1) of the Code, including the interest of such Member in Company goodwill. 

Section 9.9 Form of Liquidating Distributions. For purposes of making distributions required by
Section 9.4 hereof, the Manager may determine whether to distribute all or any portion of the Company’s property in-kind or to sell all or any portion of the Company’s
property and distribute the proceeds therefrom. 
 Section 9.10 Cancellation of Certificate. On completion of the distribution
of the Company’s assets as provided herein, the Company shall be terminated, and shall file a certificate of cancellation with the Secretary of State of the State of Delaware, cancel any other filings made pursuant to
Section 1.2 and take such other actions as may be necessary to terminate the Company. 
 ARTICLE X

 WAIVER OF PARTITION 

The Members agree that irreparable damage and harm shall be done to the goodwill and reputation of the Company and to each of the Members if
any Member shall bring an action in court to partition any property of the Company. Accordingly, each Member hereby waives and renounces such Member’s right to seek or maintain a petition for the partition of any property which the Company may,
at any time, own or to compel any sale thereof under the laws of any jurisdiction which has jurisdiction with respect to such petition. 

 ARTICLE XI 

EXCULPATION AND INDEMNIFICATION 

Section 11.1 Indemnification. 

(a) The Company hereby agrees to indemnify and hold harmless each Member and the Manager (each, an “Indemnified Person”), to
the fullest extent permitted under the Act, as the same now exists or may hereafter be amended, substituted or replaced (but, in the case of any such amendment, substitution or replacement only to the extent that such amendment, substitution or
replacement permits the Company to provide broader indemnification rights than the Company is providing immediately prior to such amendment), against all expenses, liabilities and losses (including attorney fees, judgments, fines, excise taxes or
penalties) reasonably incurred or suffered by such Indemnified Person (or one or more of such Indemnified Person’s Affiliates) by reason of the fact that such Indemnified Person is or was a Member or Manager or is or was serving at the request
of the Company as a representative, officer, director, principal, member, employee or agent of another corporation, partnership, joint venture, limited liability company (including without limitation the Company), trust or other enterprise;
provided, that no Indemnified Person shall be indemnified for any expenses, liabilities and losses suffered that are attributable to such Indemnified Person’s or its Affiliates’ fraud, gross negligence, willful misconduct or knowing
violation of law or for any present or future breaches of any representations, warranties or covenants by such Indemnified Person or its Affiliates contained herein or in any other agreement with the Company or for losses incurred by the Company.
Expenses, including attorneys’ fees, incurred by any such Indemnified Person in defending such a proceeding shall be paid by the Company in advance of the final disposition of such proceeding, including any appeal therefrom, upon receipt of an
undertaking by or on behalf of such Indemnified Person to repay such amount if it shall ultimately be determined that such Indemnified Person is not entitled to be indemnified by the Company 

(b) The right to indemnification and the advancement of expenses conferred in this Section 11.1 shall not be
exclusive of any other right which any Person may have or hereafter acquire under any statute, agreement, vote or otherwise. 
 (c) The
Company may (but is not obligated to) maintain insurance, at its expense, to protect any Indemnified Person against any expense, liability or loss described in Section 11.1(a) whether or not the Company would have the power
to indemnify such Indemnified Person against such expense, liability or loss under the provisions of this Section 11.1. 

(d) Notwithstanding anything contained herein to the contrary (including in this Section 11.1), any indemnity by the
Company relating to the matters covered in this Section 11.1 shall be provided out of and to the extent of Company assets only and no Member (unless such Member otherwise agrees in writing) shall have personal liability on
account thereof or shall be required to make additional Capital Contributions to help satisfy such indemnity of the Company. 
 (e) If this
Section 11.1 or any portion hereof shall be invalidated on any ground by any court of competent jurisdiction, then the Company shall nevertheless indemnify and hold harmless each Indemnified Person pursuant to this
Section 11.1 to the fullest extent permitted by any applicable portion of this Section 11.1 that shall not have been invalidated and to the fullest extent permitted by applicable law. 

(f) The Company shall be the indemnitor of first resort with respect to any Indemnified Person. 

Section 11.2 Exculpation. No Indemnified Person shall be liable for money damages to the Company or to any Member for any breach of
fiduciary duty by such Indemnified Person, other than for (a) breach of such Indemnified Person’s duty of loyalty to the Company and, to the extent applicable, the 

 
other Members hereof, (b) for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of the law, (c) for any distribution paid other than in
accordance with the provisions of this Agreement, or (d) for any transaction from which the Indemnified Person derived an improper personal benefit. 

Section 11.3 Persons Entitled to Indemnity. Any Person who is within the definition of “Indemnified Person” at the time
of any action or inaction in connection with the business of the Company shall be entitled to the benefits of this Article XII as an “Indemnified Person” with respect thereto, regardless of whether or not such Person continues to be
within the definition of “Indemnified Person” at the time of such Indemnified Person’s claim for indemnification or exculpation hereunder. 

Section 11.4 Procedure Agreements. The Company may enter into an agreement with any of its Members or Manager, setting forth
procedures consistent with applicable law and this Agreement for implementing the indemnities provided in this Article XI. 

Section 11.5 Amendment. The provisions of this Article XI may be amended or repealed in accordance with
Section 13.3; provided, however, that no amendment or repeal of such provisions that adversely affects the rights of any Indemnified Person under this Article XI with respect to such Indemnified Person’s acts or
omissions at any time prior to such amendment or repeal shall apply to any Indemnified Person without such Indemnified Person’s prior written consent. 

Section 11.6 Survival. The provisions of this Article XI shall survive any termination of this Agreement. 

Section 11.7 No Inconsistent Amendments to Certificate. The provisions of this Article XI shall survive any termination of
this Agreement. 
 ARTICLE XII 

TAX ELECTIONS AND RESTRICTIONS 

Section 12.1 Section 754 Election. The Company shall have in effect an election under Section 754 of the Code (and
corresponding elections under state and local law) for the taxable year of the Company that includes the date hereof and subsequent taxable years in which the Company is treated as a partnership for U.S. federal income tax purposes. 

Section 12.2 General Elections and Limitations. The Manager shall be authorized, in its sole discretion, to make all elections
required or permitted with respect to Federal or state taxes on Company tax returns; provided, however, no election shall be made by either the Company or the Members to be excluded from the application of the provisions of Subchapter K of Subtitle
A of the Code or from any similar provisions of any state tax law. 
 Section 12.3 Partnership Representative. 

(a) Pursuant to the Partnership Audit Provisions, the Manager shall be designated and may, on behalf of the Company, at any time, and without
further notice to or consent from any Member, act as the “partnership representative” of the Company (within the meaning given to such term in Section 6223 of the Code) (the “Partnership Representative”) for purposes
of the Code. The Partnership Representative shall have the right and obligation to take all actions authorized and required, respectively, by the Code for the Partnership Representative and is authorized and required to represent the Company (at the
Company’s expense) in connection with all examinations of the Company’s affairs by tax authorities, including resulting administrative and judicial proceedings, and to expend Company funds for professional services reasonably incurred in
connection therewith. The Partnership Representative is hereby authorized, and shall have the discretion based upon the advice of counsel, to make all elections 

 
under Section 6226 of the Code and the Regulations thereunder. Each Member agrees to cooperate with the Company and the Partnership Representative and to do or refrain from doing any or all
things reasonably requested by the Company or the Partnership Representative with respect to the conduct of such proceedings, including the making of, and compliance with, any elections with respect thereto. The Partnership Representative shall keep
Members reasonably informed regarding any material income tax proceedings, and the Members shall have the right to observe and participate through representatives of their own choosing (at their sole expense) in any such tax proceedings to the
extent permitted by applicable law. Nothing herein shall diminish, limit or restrict the rights of any Member under the Partnership Audit Provisions. 

(b) In the event the Company incurs any liability for taxes, interest or penalties: 

(i) The Partnership Representative may, or if such amounts are material, shall, cause the Members (including any former Member) to whom such
liability relates, as determined by the Partnership Representative, in its sole good faith discretion and after consulting with the Company’s and the affected Member’s tax advisors, to pay, and each such Member hereby agrees to pay, such
amount to the Company, and such amount shall not be treated as a Capital Contribution; and 
 (ii) Any amount not paid by a Member (or
former Member) within ten (10) days following the receipt of the request to pay delivered by the Partnership Representative shall be treated for purposes of this Agreement as withholding payment governed by
Section 6.3(b) hereof. 
 (iii) The obligations of each Member (or former Member) under this
Section 12.3 and Section 6.3(b) shall survive the transfer or redemption by such Member of its Units and the termination of this Agreement or the dissolution of the Company. 

Section 12.4 Tax Treatment of the Company. The Company shall be treated as a partnership for U.S. federal, state, local and non-U.S. tax purposes, to the extent applicable. The Manager and the Members shall take no action (or fail to take any action) that could cause the Company to be treated as other than in accordance with the first
sentence of this Section 12.4. 
 ARTICLE XIII 

MISCELLANEOUS PROVISIONS 

Section 13.1 Confidentiality. 

(a) Each Member acknowledges that during the term of this Agreement, it will have access to and become acquainted with trade secrets,
proprietary information and confidential information belonging to the Company and its Affiliates that are not generally known to the public, including, but not limited to, information concerning business plans, financial statements and other
information provided pursuant to this Agreement, operating practices and methods, expansion plans, strategic plans, marketing plans, contracts, customer lists or other business documents that the Company treats as confidential, in any format
whatsoever (including oral, written, electronic or any other form or medium) (collectively, “Confidential Information”). In addition, each Member acknowledges that: (i) the Company has invested, and continues to invest,
substantial time, expense and specialized knowledge in developing its Confidential Information; (ii) the Confidential Information provides the Company with a competitive advantage over others in the marketplace; and (iii) the Company would
be irreparably harmed if the Confidential Information were disclosed to competitors or made available to the public. Without limiting the applicability of any other agreement to which any Member is subject, no Member shall, directly or indirectly,
disclose or use (other than solely for the purposes of such Member monitoring and analyzing its investment in the Company), including, without limitation, use for personal, commercial or proprietary advantage or profit, any Confidential Information
of which such Member is or becomes aware. Each Member in possession of Confidential Information shall take all appropriate steps to safeguard such information and to protect it against disclosure, misuse, espionage, loss and theft.

 (b) Nothing contained in Section 13.1(a) shall prevent any Member
from disclosing Confidential Information: (i) upon the order of any court, regulatory body or administrative agency; (ii) upon the request or demand of any regulatory agency or authority having jurisdiction over such Member; (iii) to
the extent compelled by legal process or required or requested pursuant to subpoena, interrogatories or other discovery requests; (iv) to the extent necessary in connection with the exercise of any remedy hereunder; (v) to the other
Member(s); or (vi) to such Member’s Affiliates, representatives or agents who, in the reasonable judgment of such Member, need to know such Confidential Information and agree to be bound by the provisions of this
Section 13.1 as if a Member; provided, that in the case of clause (i), (ii) or (iii), such Member shall (A) other than in the case of routine regulatory examinations, notify the Company and other Members of the
proposed disclosure as far in advance of such disclosure as practicable (but in no event make any such disclosure before notifying the Company and other Members) and (B) use reasonable efforts to ensure that any Confidential Information so
disclosed is accorded confidential treatment satisfactory to the Company, when and if available. Notwithstanding anything herein to the contrary, any Member that is an institutional investor and any of their respective Affiliates may make customary
disclosures to their limited partners and prospective limited partners in the ordinary course of business, subject to customary confidentiality obligations. 

(c) The restrictions of Section 13.1(a) shall not apply to Confidential Information that: (i) is or becomes
generally available to the public other than as a result of a disclosure by a Member in violation of this Agreement; (ii) is or has been independently developed or conceived by such Member without use of Confidential Information; or
(iii) becomes available to such Member or any of its Affiliates, representatives or agents on a non-confidential basis from a source other than the Company, the other Members or any of their respective
Affiliates, representatives or agents, provided, that such source is not known by the receiving Member to be bound by a confidentiality agreement regarding the Company. 

(d) The obligations of each Member under this Section 13.1 shall survive for so long as such Member remains a
Member, and for three years following the earlier of (i) termination, dissolution, liquidation and winding up of the Company, (ii) the withdrawal of such Member from the Company, and (iii) such Member’s Transfer of its Units.

 (e) Notwithstanding anything to the contrary in this Section 13.1, Caliburn may disclose any Confidential
Information pursuant to any disclosure obligation under any applicable Law or stock exchange rule with no obligation to provide written notice to the Company or any other Member to whom such Confidential Information relates. 

Section 13.2 Benefit. This Agreement shall be binding upon, and shall inure to the benefit of, the Members specifically named
herein and, as provided in this Agreement, their respective heirs, administrators, executors, transferees, successors and permitted assigns. 

Section 13.3 Amendment. This Agreement shall be amended only upon the favorable vote of (a) Members representing a majority
of the outstanding Units, and (b) approval of the Manager. 
 Section 13.4 Notices. All notices and other communications
required or permitted hereunder shall be in writing and shall be delivered by nationally recognized overnight carrier or by hand or by messenger or by electronic mail with receipt confirmed, and shall be addressed to the intended recipient party at
such party’s address appearing in Exhibit B (or at the address of the Company’s principal office, in the case of notices to the Company), or at such other address as such intended recipient party shall have furnished to the sending party.
Each such notice or other communication shall, for all purposes of this Agreement, be treated as effective or having been given when delivered or when delivery is refused. 

 Section 13.5 Books, Records, Accounting, Tax, Reports and Access. 

(a) At all times during the existence of the Company, the Company shall keep, or cause to be kept, true books of account in which shall be
entered fully and accurately each transaction of the Company. Such books of account, together with an executed copy of this Agreement (and all amendments thereto), shall, at all times, be maintained at the principal office of the Company and be open
to the reasonable inspection and examination by the Members or their duly authorized representatives during normal business hours. 
 (b) As
soon as reasonably practicable after the end of each Company Year, but in no event later than 120 days after the end thereof, there shall be delivered to each Member an annual financial statement showing the financial condition of the Company at the
end of such Company Year and the results of its operations for the Company Year then ended. 
 (c) The Company shall cause income tax
returns for the Company to be prepared, at Company expense, and timely filed with the appropriate authorities. Within 60 days after the end of each Company Year and within 15 days of the due date for estimated tax payments, each Member shall be
furnished with a statement indicating the amounts of any Net Profits and Net Losses allocated to such Member, and the amount of any distributions made to such Member pursuant to this Agreement. The Company shall pay all required taxes attributable
to the Company, if any, including without limitation any sales taxes. The Company shall provide each Member with the necessary apportionment data for all state tax returns. 

(d) The Company shall furnish each Member with it Schedule K-1 within 60 days of the end of each
Company Year. Each Member shall provide the Company with information relevant to tax status or reporting of the Company as reasonably requested by the Company from time to time. 

(e) Notwithstanding anything to the contrary in this Section 13.5, any other provision of this Agreement or the Act,
any Member that is, or is an Affiliate of, a financial institution that is a lender or a participant in any of the Company’s loan programs shall not be entitled to inspect or otherwise have access to any performance or other data that
identifies loans owned by any other financial institution. 
 Section 13.6 Bank Accounts. All funds of the Company shall be
deposited in the Company’s name in one or more amounts at such Federally-insured bank, savings and loan or building and loan, or other commercial institutions, as the Manager shall, from time to time, determine. Withdrawals from any such
accounts shall be made upon such signature(s) as the Manager shall, from time to time, designate. 
 Section 13.7 Governing Law.
THIS AGREEMENT IS GOVERNED BY, AND SHALL BE CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF DELAWARE EXCLUDING ANY CONFLICT-OF-LAWS RULE OR PRINCIPLE THAT MIGHT
REFER THE GOVERNANCE OR THE CONSTRUCTION OF THIS AGREEMENT TO THE LAW OF ANOTHER JURISDICTION. In the event of a direct conflict between the provisions of this Agreement and any provision of the Certificate or any mandatory provision of the Act, the
applicable provision of the Certificate or the Act shall control. 
 Section 13.8 WAIVER OF JURY TRIAL. ALL PARTIES HEREBY
IRREVOCABLY WAIVE, AND AGREE NOT TO ASSERT, BY WAY OF MOTION, AS A DEFENSE, COUNTERCLAIM OR OTHERWISE, IN ANY ACTION OR PROCEEDING WITH RESPECT TO THIS AGREEMENT ANY RIGHT TO A TRIAL BY JURY. 

Section 13.9 Jurisdiction; Service of Process. Any action or proceeding seeking to enforce any provision of, or based on any right
arising out of, or relating in any manner to, this Agreement (whether based on contract, tort or any other theory) must be brought against any of the parties in the 

 
State of Delaware, and each of the parties consent to the jurisdiction of such courts (and of the appropriate appellate courts) in any such action or proceeding and waives any objection to venue
laid therein. Process in any action or proceeding referred to in the preceding sentence may be served on any party anywhere in the world. 

Section 13.10 Counsel. The parties acknowledge that the Company was represented by legal counsel at all times during the
preparation of this Agreement. The Company’s legal counsel has advised each Member that a conflict may exist between the interests of such Member and those of the Company or the other Members. The Company’s legal counsel has further
advised each Member to seek the advice of independent counsel before entering into this Agreement. Each Member has had all information necessary to make an informed decision with regard to this Agreement and the opportunity to consult with
independent counsel before entering into this Agreement and, with the Company, waives all claims against the Company’s legal counsel regarding any possible conflict of interest with regard to this Agreement or its preparation. The parties also
acknowledge that the Company’s legal counsel may currently represent, or may have represented, one or more of the Members or its Affiliates in other matters; and the parties hereby waive any actual or potential conflict of interest arising out
of that representation, and consent to the representation of the Company in this matter and to the continued representation of the parties in other matters. 

Section 13.11 Severability. Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be
effective and valid under applicable law, but if any provision of this Agreement is held to be invalid, illegal or unenforceable in any respect under applicable law or rule in any jurisdiction, such invalidity, illegality or unenforceability shall
not affect any other provision or any other jurisdiction, but this Agreement shall be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable provision had never been contained herein. 

Section 13.12 Interpretation. The parties hereto acknowledge and agree that (a) each party hereto and its counsel reviewed
and negotiated the terms and provisions of this Agreement and have contributed to its revision, (b) the rule of construction to the effect that any ambiguities are resolved against the drafting party shall not be employed in the interpretation
of this Agreement and (c) the terms and provisions of this Agreement shall be construed fairly as to all parties hereto, regardless of which party was generally responsible for the preparation of this Agreement. 

Section 13.13 Entire Agreement. This Agreement, together with all exhibits and schedules hereto and all other agreements
referenced herein and therein, including, for the avoidance of doubt, the Exchange Agreement and the Tax Receivable Agreement, contains the entire agreement of the parties hereto relating to the subject matter hereof and supersedes all prior
contracts, agreements, discussions and understandings between them. No course of prior dealings between the parties shall be relevant to supplement or explain any term used in this Agreement. Acceptance or acquiescence in a course of performance
rendered under this Agreement shall not be relevant to determine the meaning of this Agreement even though the accepting or the acquiescing party has knowledge of the nature of the performance and an opportunity for objection. 

Section 13.14 Headings . All headings in this Agreement are for convenience only, are not a part of this Agreement and shall not
be used as an aid in the construction of any provision hereof. All references to Articles and Sections refer to articles and sections of this Agreement, and all references to Schedules are to Schedules attached hereto, each of which is made a part
hereof for all purposes. 
 Section 13.15 Number and Gender. As used herein, the singular and plural each includes the other,
the masculine, feminine and neuter each include the others, and this Agreement shall be read accordingly when required by the facts. 

 Section 13.16 Waiver. A waiver or consent, express or implied, of or to any
breach or default by any Person in the performance by that Person of such Person’s obligations hereunder or with respect to the Company is not a consent or waiver to or of any other breach or default in the performance by such Person of the
same or any other obligations of such Person hereunder or with respect to the Company. Failure on the part of a Person to complain of any act of any Person or to declare any Person in default hereunder or with respect to the Company, irrespective of
how long that failure continues, does not constitute a waiver by such Person of such Person’s rights with respect to that default until the applicable
statute-of-limitations period has run. 
 Section 13.17
Counterparts. This Agreement may be executed in several counterparts, each of which shall be deemed an original, and all of the counterparts together shall constitute one and the same instrument. 

Section 13.18 Remedies; Prevailing Party. Any Person having any rights under any provision of this Agreement will be entitled to
enforce its rights under this Agreement to recover damages and costs (including attorneys’ fees) caused by any breach of any provision of this Agreement and to exercise all other rights existing in its favor. The parties hereto agree and
acknowledge that money damages may not be an adequate remedy for any breach of the provisions of this Agreement and that any party may in its sole discretion apply to any court of law or equity of competent jurisdiction (without posting any bond or
deposit) for specific performance and/or other injunctive relief in order to enforce or prevent any violations of the provisions of this Agreement. In the event of any litigation arising from any claim, controversy, dispute or cause of action based
upon, arising out of or relating to this agreement, the prevailing party shall be entitled to recover from the non-prevailing party all reasonable costs incurred including court costs, attorneys’ fees,
and all other related expenses incurred in such claim, controversy, dispute or cause of action. 
 Section 13.19 Waiver of Certain
Rights. Each Member irrevocably waives any right to demand any distributions or withdrawal of property from the Company or to maintain any action for dissolution (except pursuant to Section 18-802 of
the Act) of the Company or for partition of the property of the Company. 
 Section 13.20 Notice to Members on Provisions. By
executing this Agreement, each Member acknowledges that he, she or it has actual notice of (a) all of the provisions hereof and (b) all of the provisions of the Certificate. 

Section 13.21 Non-Occurrence of IPO. Notwithstanding any other provision of this Agreement
(including Section 13.3), in the event that the IPO is not consummated prior to the date that is 10 Business Days after the date of this Agreement, then this Agreement shall automatically, with no action required by any Member, on such date be
amended and restated in its entirety back to the Second Amended and Restated Agreement and upon such automatic amendment and restatement of this Agreement, this Agreement shall be of no force and effect. Notwithstanding any other provision of this
Agreement (including Section 13.3), this Section 13.21 may not be amended prior to the consummation of the IPO, except by written consent of the Manager. 

Section 13.22 Corporate Opportunities. 

(a) The Members may, during the term of the Company, engage in and possess an interest for their respective accounts in other business
ventures of every nature and description, independently or with others, and neither the Company, any Subsidiary of the Company nor any Member shall have any right in or to said independent ventures or any income or profits derived from said
independent ventures and, unless such Person expressly agrees otherwise in this Agreement or another written agreement, no Member or its Affiliates or any director, officer, manager or employee of such Member or its Affiliates who may serve as an
officer, manager, director and/or employee of the Company or its Subsidiaries shall 

 
be liable to Company or any of its Subsidiaries by virtue of being a Member or an Affiliate of a Member by reason of activity undertaken by such Person or by any other Person in which Person may
have an investment or other financial interest which is in competition with the Company or its Subsidiaries. No Member (in his or her capacity as such) shall be required to devote business time and attention to the affairs of the Company, unless
such Person expressly agrees otherwise in this Agreement or another written agreement. Nothing in this Section 13.21(a) is meant to limit the fiduciary duties of the Manager or officers of the Company described in
Article III, or the confidentiality undertakings of the Members described in Section 13.1, and in no event shall any Member or any of its representatives use any Confidential Information for any purpose other than
for the benefit of the Company or a purpose reasonably related to monitoring or protecting such Member’s investment in the Company. 

(b) The Members (solely in their capacity as Members) and their respective Affiliates (including one or more associated investments funds or
portfolio companies) shall have the right: (A) to directly or indirectly engage in any business (including, without limitation, any business activities or lines of business that are the same as or similar to those pursued by, or competitive
with, the Company and its Subsidiaries); (B) to directly or indirectly do business with any client or customer of the Company or any of its Subsidiaries; and (C) not to present potential transactions, matters or business opportunities to the
Company or its Subsidiaries, and to pursue, directly or indirectly, any such opportunity for themselves (and their agents, partners or Affiliates), and to direct any such opportunity to another Person. Nothing in this
Section 13.21(b) is meant to limit (i) the fiduciary duties of the Manager or officers of the Company described in Article III,, (ii) the confidentiality undertakings of the Members described in
Section 13.21, and in no event shall any Member or any of its representatives use any Confidential Information for any purpose other than for the benefit of the Company or a purpose reasonably related to monitoring or
protecting such Member’s investment in the Company or (iii) the provisions of any other agreement or undertaking by any Member or any of its Affiliates or representatives. 

(c) None of the Members (solely in their capacity as Members) and their respective Affiliates shall have any duty (contractual or otherwise)
to communicate or present any corporate opportunities to the Company or any of its Subsidiaries or any of their respective Affiliates or equityholders or to refrain from any actions specified in Section 13.21(b) hereof, and
the Company, on its own behalf and on behalf of its Affiliates and equityholders, hereby irrevocably waives any right to require any of such Members (solely in their capacity as Members) or any of their respective Affiliates to act in a manner
inconsistent with the provisions of this paragraph. None of the Members (solely in their capacity as Members) nor any of their respective Affiliates shall be liable to the Company or any of its Affiliates or equityholders for breach of any duty
(contractual or otherwise) by reason of any activities or omissions of the types referred to in Section 13.21(a), (b) or (c), or of any such Person’s participation therein. Nothing in this
Section 13.21(c) is meant to limit the fiduciary duties of the Manager or officers of the Company described in Article III, or the provisions of any other agreement or undertaking by any Member or any of its
Affiliates or representatives. 
 (Signatures appear on the following pages) 

 IN WITNESS WHEREOF, the undersigned have executed this Third Amended and Restated Limited
Liability Company Agreement as of the date first written above. 
  

			
	COMPANY
	Caliburn Holdings, LLC

 
			
		
	By:	 	  

		 	Chief Executive Officer
	
	(Member Name)
		
	By:	 	  

	Name:	 	
	Title:	 	

 (Signature Page to Third Amended and Restated Limited Liability Company Agreement) 

 EXHIBIT A 

DEFINITIONS 
 The terms listed below have
the meanings given to them in the referenced sections: 
  

			
	 Term
	  	Section
	 A&R LLC Agreement
	  	Background
	 Agreement
	  	Preamble
	 Adjustment Liability
	  	6.3(b)
	 Adjustment Liability Shortfall
	  	6.3(b)
	 Business
	  	1.4
	 Caliburn
	  	Background
	 Cause
	  	3.4
	 Company
	  	Preamble
	 Confidential Information
	  	13.1(a)
	 Contractual Appraisal Rights
	  	1.2
	 Exempted Person
	  	3.1
	 Indemnified Person
	  	11.11(a)
	 Initial LLC Agreement
	  	Background
	 Partnership Representative
	  	12.3(a)
	 Permitted Transfers
	  	8.1
	 Permitted Transferees
	  	8.1
	 Quarterly Installments
	  	6.2(a)
	 Regulatory Allocations
	  	5.3(g)
	 Related Person
	  	3.1(b)
	 Second A&R LLC Agreement
	  	Background
	 Specified Covered Persons
	  	11.4
	 Tax Distribution Amount
	  	6.2(a)
	 Transfer
	  	8.1
	 Transferor Member
	  	8.1

 As used in this Agreement, each of the following terms shall have the specific definition indicated: 

“Act” means the Delaware Limited Liability Company Act, Title 6, §§ 18-101,
et seq., and any successor statute, as amended from time to time. 
 “Adjusted Capital Account Deficit” means the
deficit balance, if any, in a Member’s Capital Account at the end of the relevant taxable period after giving effect to the following adjustments: 
  

	 	(i)	 The crediting to such Capital Account of any amount which such Member is obligated to restore pursuant to any
provision of this Agreement or is deemed to be obligated to restore pursuant to Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5); and 

 

	 	(ii)	 debiting thereto the items described in Regulations Sections
1.704-1(b)(2)(ii)(d)(4), 1.704-1(b)(2)(ii)(d)-(5), and 1.704-1(b)(2)(ii)(d)(6). 

The foregoing is intended to comply with the provisions of Regulations Section 1.704-1(b)(2)(ii)(d), and shall be
interpreted consistently therewith. 

 “Affiliate” means, with respect to any individual, corporation,
partnership, limited liability company, trust or other entity (collectively referred to as a “person”), any of the following: 
  

	 	(i)	 any person who, directly or indirectly through one or more intermediaries, controls, is controlled by, or is
under common control with, another person; 

  

	 	(ii)	 any person owning or controlling ten percent (10%) or more of the outstanding voting securities or beneficial
interest of another person; 

  

	 	(iii)	 any person who is an officer, director, general partner or trustee of such person, or anyone acting in a
substantially similar capacity to such person; and 

  

	 	(iv)	 any person who is an officer, director, general partner, trustee or holder of ten percent (10%) or more of the
voting securities or beneficial interest of any of the foregoing. 

 For avoidance of doubt, with respect to an Institutional Member, an
Affiliate shall also include any Affiliated Fund. 
 “Affiliated Fund” means each corporation, trust, limited liability
company, general or limited partnership or other entity controlling or under common control with the relevant Institutional Member. 

“Assignee” means a transferee of a Unit who shall not have been admitted as a Substitute Member. 

“Book Value” means, with respect to any asset, such asset’s adjusted basis for federal income tax purposes, except as
follows: 
 (i) The initial Book Value of any asset contributed by a Member to the Company shall be the gross Fair Market Value of such
asset; 
 (ii) The Book Values of all Company assets shall be adjusted to equal their respective gross Fair Market Values as of the
following times: (a) the acquisition of an additional interest in the Company by any new or existing Member in exchange for services or for more than a de minimis Capital Contribution; (b) the distribution by the Company to a Member of
more than a de minimis amount of Company assets as consideration for an interest in the Company; and (c) the liquidation of the Company within the meaning of Treasury Regulation
Section 1.704-1(b)(2)(ii)(g); provided, however, that the adjustments pursuant to clauses (a) and (b) above shall be made only if the Manager reasonably determines that such adjustments are necessary
or appropriate to reflect the relative economic interests of the Members in the Company; 
 (iii) The Book Value of any Company asset
distributed to any Member shall be the gross Fair Market Value of such asset on the date of distribution; and 
 (iv) The Book Values of
Company assets shall be increased (or decreased) to reflect any adjustments to the adjusted basis of such assets pursuant to Code Section 734(b) or 743(b), but only to the extent that such adjustments are taken into account in determining
Capital Accounts pursuant to Treasury Regulation Section 1.704-1(b)(2)(iv)(m); provided, however, that Book Values shall not be adjusted pursuant to this clause (iv) to the extent the Manager
determines that an adjustment pursuant to clause (ii) is necessary or appropriate in connection with a transaction that would otherwise result in an adjustment pursuant to this clause (iv). 

 If the Book Value of an asset has been determined or adjusted pursuant to clause (i), (ii)
or (iv) above, such Book Value shall thereafter be adjusted by the Depreciation taken into account with respect to such asset for purposes of computing Net Profits and Net Losses. 

“Capital Account” means, with respect to any Member, the Capital Account maintained for such Member. 

“Capital Contribution” means, with respect to any Member, the amount of money and the Fair Market Value of assets (when
contributed) as reasonably determined by the Manager, in each case, contributed to the Company with respect to such Member’s Units, including initial and additional contributions. 

“Certificate” means the Certificate of Formation of the Company as filed, and as the same may be amended from time to time,
with the Secretary of State of the State of Delaware. 
 “Class A Common Stock” means the Class A
Common Stock, par value $0.01 of Caliburn. 
 “Class B Common Stock” means the Class B Common
Stock, par value $0.001 of Caliburn. 
 “Code” means the Internal Revenue Code of 1986, as amended. 

“Common Units” means the Units designated as Common Units under this Agreement. 

“Company Minimum Gain” has the same meaning as the term “partnership minimum gain” in Regulations Sections 1.704-2(b)(2) and 1.704-(2)(d). 
 “Company
Percentage” of a Member on a pertinent date means the ratio (expressed as a percentage) of the number of Common Units held by such Member to the aggregate Common Units held by all Members. 

“Company Year” means the accounting period of the Company. 

“Contributed Property” means property contributed by a Member to the Company, the income tax basis of which to the Company is
determined, in whole or in part, by reference to the income tax basis of such property (or of any property exchanged for such property) in the hands of such Member. 

“Depreciation” means, for each Company Year, an amount equal to the depreciation, amortization or other cost recovery
deduction allowable with respect to an asset for such Company Year for Federal income tax purposes, except that if the Book Value of an asset differs from its adjusted basis for Federal income tax purposes at the beginning of such Company Year,
Depreciation shall be an amount which bears the same ratio to such beginning Book Value as the Federal income tax depreciation, amortization, or other cost recovery deduction for such Company Year bears to such beginning adjusted tax basis;
provided, however, that if the adjusted basis for Federal income tax purposes of an asset at the beginning of such Company Year is zero ($0), Depreciation shall be determined with reference to such beginning Book Value using any
reasonable method selected by the Members. 
 “Distributable Cash” means the excess, if any, of 

 

	 	(i)	 the Company’s aggregate cash receipts (other than Capital Contributions) over 

 

	 	(ii)	 the aggregate of the Company’s expenditures from such cash receipts (including, but not limited to, debt
service and debt reduction with respect to any loans made by Members to the Company) and such amounts as the Manager determines are reasonable to retain from such cash receipts for Company purposes; 

 provided, however, that retained amounts shall become Distributable Cash when
the Manager determines that their retention is no longer necessary; provided, further, however, that Distributable Cash shall not be reduced by depreciation, amortization, cost recovery deductions and other similar non-cash expenses. 
 “Effective Date” means
            , 2018. 
 “Encumbrance” means any lien (statutory
or other), claim, charge, security interest, mortgage, deed of trust, pledge, hypothecation, assignment, conditional sale or other title retention agreement, preference, priority or other security agreement or preferential arrangement of any kind,
and any easement, encroachment, covenant, restriction, right of way, defect in title or other encumbrance of any kind. 
 “Exchange
Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder. 

“Exchange Agreement” means the Exchange Agreement(s) among the Company, Caliburn and the holders of Units from time to time
party thereto, as such agreement(s) may be amended, restated, supplemented and/or otherwise modified from time to time. 
 “Existing
Members” means the Members of the Company prior to the Effective Date as set forth in Exhibit B hereto. 
 “Fair
Market Value” of any asset at any time means the fair market value of the asset in question, as determined in the good faith judgment of the Manager. 

“Family Group” means, with respect to a Person who is an individual, (i) such Person’s spouse and direct
descendants (whether natural or adopted) (collectively, for purposes of this definition, “relatives”), and (ii) any trust, the trustee of which is such Person and which at all times is and remains solely for the benefit of such
Person and/or such Person’s relatives. 
 “GAAP” means United States generally accepted accounting principles,
consistently applied. 
 “Incapacity” or “Incapacitated” means (a) with respect to a natural person,
the bankruptcy, death, incompetency or insanity of such individual and (b) with respect to any other Person, the bankruptcy, liquidation, dissolution or termination of such Person. 

“Indebtedness” of any Person means (a) all indebtedness for borrowed money, (b) all obligations issued, undertaken
or assumed as the deferred purchase price of property or services other than trade accounts arising in the ordinary course of business, (c) all obligations evidenced by notes, bonds, debentures or similar instruments, including obligations so
evidenced incurred in connection with the acquisition of property, assets or businesses, (d) all leases which are required to be capitalized in accordance with GAAP, (e) all indebtedness referred to in clauses (a) through (d) above
secured by (or for which the holder of such Indebtedness has an existing right, contingent or otherwise, to be secured by) any Encumbrance upon or in property (including accounts and contracts rights) owned by such Person, even though such Person
has not assumed or become liable for the payment of such Indebtedness and (f) all agreements, undertakings or arrangements by which any Person guarantees, endorses or otherwise becomes or is contingently liable for (by direct or indirect
agreement, contingent or otherwise, to provide funds for payment, to supply funds to, or otherwise to invest in, a debtor, or otherwise assure a creditor against loss) the Indebtedness or other similar obligation or liability of any other Person, or
guarantees the payment of dividends or other distributions upon the equity securities or interests of any other Person (in each case other than product or service warranties entered into in the ordinary course of business). 

 “Institutional Member” means a bank, bank holding company, or investment
fund, or a subsidiaries thereof. 
 “Interest” means a limited liability company interest in the Company and includes any
and all benefits to which the holder of such a limited liability company interest may be entitled as provided in this Agreement, together with all obligations of such Person to comply with the terms and provisions of this Agreement. The Interest of
each Member at any particular time shall be expressed as a percentage equal to the number of Units owned by such Member at such time divided by the total number of Units owned by all Members at such time. 

“Interest Equivalents” means (without duplication with any Interests or other Interest Equivalents) rights, warrants,
options, convertible securities, exchangeable securities, Indebtedness or other rights, in each case exercisable for or convertible or exchangeable into, directly or indirectly, Interests or securities exercisable for or convertible or exchangeable
into Interests, whether at the time of issuance or upon the passage of time or the occurrence of some future event. 

“IPO” means the initial underwritten public offering of Caliburn pursuant to the registration statement on Form S-1 (SEC File No.             ) originally filed on             , 2018. 

“Manager” means the person or persons designated or elected as such pursuant to ARTICLE III of the
Agreement, and initially shall mean Caliburn in such capacity. 
 “Market Price” means, with respect to a share of
Class A Common Stock as of a specified date, the last sale price per share of Class A Common Stock, regular way, or if no such sale took place on such day, the average of the closing bid and asked prices per share of Class A Common
Stock, regular way, in either case as reported in the principal consolidated transaction reporting system with respect to securities listed or admitted to trading on the             
Exchange or, if the Class A Common Stock is not listed or admitted to trading on the              Exchange, as reported on the principal consolidated transaction reporting system with
respect to securities listed on the principal national securities exchange on which the Class A Common Stock is listed or admitted to trading or, if the Class A Common Stock is not listed or admitted to trading on any national securities
exchange, the last quoted price, or, if not so quoted, the average of the high bid and low asked prices in the over-the-counter market, as reported by the National
Association of Securities Dealers, Inc. Automated Quotation System or, if such system is no longer in use, the principal other automated quotation system that may then be in use or, if the Class A Common Stock is not quoted by any such
organization, the average of the closing bid and asked prices as furnished by a professional market maker making a market in the Class A Common Stock selected by Board of Directors of Caliburn or, in the event that no trading price is available
for the shares of Class A Common Stock, the fair market value of a share of Class A Common Stock, as determined in good faith by the Board of Directors of Caliburn. 

“Member(s)” means, individually, each Person listed on Exhibit B attached hereto and, collectively, all of the
Members, and includes any party or parties substituted for any of them pursuant to ARTICLE VIII hereof. 
 “Member Minimum
Gain” has the meaning set forth for “partner nonrecourse debt minimum gain” in Treasury Regulation Section 1.704-2(i)(2). 

“Member Nonrecourse Deductions” has the same meaning as the term “partner nonrecourse deductions” in Regulations 1.704-2(i)(1) and 1.704-(2)(i)(2). 

 “Net Profits and Net Losses” means, for a Company Year, an amount equal to
the Company’s taxable income or loss for such period determined in accordance with Code Section 703(a), adjusted as follows: 
  

	 	(i)	 There shall be included all items of income, gain, loss or deduction required to be separately stated pursuant
to Code Section 703(a)(1); 

  

	 	(ii)	 any income of the Company exempt from Federal income tax shall be added; 

 

	 	(iii)	 any expenditures of the Company described in Code Section 705(a)(2)(B) or treated as Code
Section 705(a)(2)(B) expenditures pursuant to Regulations Section 1.704-1(b)(2)(iv)(i), shall be subtracted; 

 

	 	(iv)	 in the event the Book Value of any Company asset is adjusted pursuant to clause (ii) or (iii) of the
definition of Book Value, the amount of such adjustment shall be treated as an item of gain (if the adjustment increases the Book Value of the asset) or an item of loss (if the adjustment decreases the Book Value of the asset) from the disposition
of such asset and shall be taken into account for purposes of computing Net Profits and Net Losses; 

  

	 	(v)	 gain or loss resulting from any disposition of property with respect to which gain or loss is recognized for
Federal income tax purposes shall be computed by reference to the Book Value of the property disposed of, notwithstanding that the adjusted tax basis of such property differs from its Book Value; 

 

	 	(vi)	 in lieu of the depreciation, amortization and other cost recovery deductions calculated pursuant to Code
Section 703(a), there shall, be taken into account Depreciation for such Company Year, computed in accordance with the definition of Depreciation; 

  

	 	(vii)	 to the extent an adjustment to the adjusted tax basis of any Company asset pursuant to Code Section 734(b)
is required pursuant to Regulations Section 1.704-1(b)(2)(iv)(m)(4) to be taken into account in determining Capital Accounts as a result of a distribution other than in liquidation of a Member’s
interest in the Company, the amount of such adjustment shall be treated as an item of gain (if the adjustment increases the basis of the asset) or loss (if the adjustment decreases such basis) from the disposition of such asset and shall be taken
into account for purposes of computing Net Profits and Net Losses; and 

 any item of Company income, gain, loss or
deduction which shall be specially allocated pursuant to Section 5.3 hereto shall not be included in Net Profits and Net Losses. 

“Nonrecourse Deductions” has the meaning set forth in Regulations
Section 1.704-2(b)(1) and 1.704-2(c). 

“Nonrecourse Liability” has the meaning set forth in Regulations
Section 1.704-2(b)(3). 
 “Partnership Audit Provisions” means the Bipartisan
Budget Act of 2015 and Sections 6221-6231 of the Code (and the Regulations promulgated thereunder), as amended thereunder. 

“Person” or “person” means any individual, firm, corporation, partnership, trust, incorporated or
unincorporated association, joint venture, joint stock company, limited liability company, governmental authority or other entity of any kind, and shall include any successor (by merger or otherwise) of such entity. 

 “Regulated Holder” means a bank or bank holding companies, together with
its subsidiaries. 
 “Regulations” means the Federal income tax regulations promulgated under the Code; including temporary
Regulations, as amended. 
 “Regulatory Allocations” has the meaning ascribed to it in Section 2
of Exhibit C hereto. 
 “Reorganization” means the transactions described in the Reorganization Agreement. 

“Reorganization Agreement” means the Reorganization Agreement among the Company, Caliburn, and the other parties thereto
dated as of             , 2018. 
 “Subsidiary” means any
corporation, partnership, joint venture or other entity of which the Company owns, directly or indirectly, more than 20% of the outstanding voting securities or equity interests. 

“Substitute Member” means an Assignee who shall have been admitted to all of the rights of membership pursuant to this
Agreement (other than as set forth in Section 8.5). As a Substitute Member, an Assignee shall succeed to the Capital Account of the transferor Member and all the terms and conditions of this Agreement (other than as set
forth in Section 8.5) shall inure to the benefit of, and be binding upon, such Substitute Member, his estate, his personal representatives, his heirs and legatees, and his successors in interest. 

“Tax Receivable Agreement” means the Tax Receivable Agreement among the Company, he Corporation and the other Persons named
therein providing generally Caliburn will agree to pay those other Persons 85% of certain cash tax savings, if any, in United States federal, state and local taxes that Caliburn realizes or is deemed to realize in connection with the Reorganization
transactions and the offering-related transactions. 
 “Unit” means a portion of the interest of a Member in the Company,
including any and all benefits to which such Member may be entitled to under the Act and in this Agreement, together with all obligations of such Member to comply with the terms and provisions of this Agreement. 

 EXHIBIT B 

MEMBERSHIP UNITS 
 AND
COMPANY PERCENTAGES 
 [To Follow] 

 EXHIBIT C 

EXISTING MEMBER 
 [To
Follow]

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