Document:

EX-10.1

 Exhibit 10.1 

SECURITIES PURCHASE AGREEMENT 
 by
and between 
 ADT INC. 
 and

 STATE FARM FIRE & CASUALTY COMPANY 

Dated as of September 5, 2022 
  

 TABLE OF CONTENTS 

Page 
  

					
		
	ARTICLE I	  			
		
	DEFINITIONS	  			
		
	 SECTION 1.01. Definitions
	  	 	1	 
		
	ARTICLE II	  			
		
	PURCHASE AND SALE	  			
		
	 SECTION 2.01. Purchase and Sale
	  	 	9	 
	 SECTION 2.02. Closing
	  	 	9	 
		
	ARTICLE III	  			
		
	REPRESENTATIONS AND WARRANTIES OF THE COMPANY	  			
		
	 SECTION 3.01. Organization; Standing; Subsidiaries
	  	 	11	 
	 SECTION 3.02. Capitalization
	  	 	12	 
	 SECTION 3.03. Authority; Noncontravention
	  	 	13	 
	 SECTION 3.04. Governmental Approvals
	  	 	14	 
	 SECTION 3.05. Company SEC Documents; Undisclosed Liabilities
	  	 	15	 
	 SECTION 3.06. Information Supplied
	  	 	16	 
	 SECTION 3.07. Absence of Certain Changes
	  	 	16	 
	 SECTION 3.08. Legal Proceedings
	  	 	17	 
	 SECTION 3.09. Compliance with Laws; Permits
	  	 	17	 
	 SECTION 3.10. Intellectual Property
	  	 	17	 
	 SECTION 3.11. Tax Matters
	  	 	18	 
	 SECTION 3.12. No Rights Agreement; Anti-Takeover Provisions
	  	 	18	 
	 SECTION 3.13. Brokers and Other Advisors
	  	 	18	 
	 SECTION 3.14. Sale of Securities
	  	 	19	 
	 SECTION 3.15. Listing and Maintenance Requirements
	  	 	19	 
	 SECTION 3.16. Regulatory Filings
	  	 	19	 
	 SECTION 3.17. Material Contracts
	  	 	19	 
	 SECTION 3.18. Properties and Assets
	  	 	20	 
	 SECTION 3.19. Investment Company
	  	 	20	 
	 SECTION 3.20. Insurance
	  	 	20	 
	 SECTION 3.21. Labor Matters
	  	 	21	 
	 SECTION 3.22. Market Activities
	  	 	21	 
	 SECTION 3.23. Benefit Plans
	  	 	21	 
	 SECTION 3.24. Environmental Laws
	  	 	22	 
	 SECTION 3.25. Foreign Corrupt Practices Act
	  	 	23	 
	 SECTION 3.26. OFAC
	  	 	23	 

  
 i 

					
	 SECTION 3.27. Money Laundering Laws
	  	 	23	 
	 SECTION 3.28. Information Systems
	  	 	23	 
	 SECTION 3.29. Privacy
	  	 	24	 
	 SECTION 3.30. Consumer Protection
	  	 	25	 
	 SECTION 3.31. No Other Company Representations or Warranties
	  	 	25	 
	 SECTION 3.32. No Other Investor Representations or Warranties
	  	 	26	 
		
	ARTICLE IV	  			
		
	REPRESENTATIONS AND WARRANTIES OF THE INVESTOR	  			
		
	 SECTION 4.01. Organization; Standing
	  	 	26	 
	 SECTION 4.02. Authority; Noncontravention
	  	 	27	 
	 SECTION 4.03. Governmental Approvals
	  	 	27	 
	 SECTION 4.04. Available Funds
	  	 	28	 
	 SECTION 4.05. Ownership of Company Stock
	  	 	28	 
	 SECTION 4.06. Brokers and Other Advisors
	  	 	28	 
	 SECTION 4.07. Information Supplied
	  	 	28	 
	 SECTION 4.08. Non-Reliance on Company Estimates,
Projections, Forecasts, Forward-Looking Statements and Business Plans
	  	 	28	 
	 SECTION 4.09. Private Placement Matters
	  	 	29	 
	 SECTION 4.10. No Other Company Representations or Warranties
	  	 	29	 
	 SECTION 4.11. No Other Investor Representations or Warranties
	  	 	30	 
		
	ARTICLE V	  			
		
	ADDITIONAL AGREEMENTS	  			
		
	 SECTION 5.01. Negative Covenants
	  	 	30	 
	 SECTION 5.02. Further Action; Reasonable Best Efforts; Filings
	  	 	32	 
	 SECTION 5.03. Public Disclosure
	  	 	34	 
	 SECTION 5.04. Confidentiality
	  	 	34	 
	 SECTION 5.05. NYSE Listing of Common Stock
	  	 	35	 
	 SECTION 5.06. Tax Matters
	  	 	35	 
	 SECTION 5.07. Furnishing of Information
	  	 	35	 
	 SECTION 5.08. Delivery of Issued Shares After Closing
	  	 	35	 
	 SECTION 5.09. Self-Tender Offer; Use of Proceeds
	  	 	36	 
	 SECTION 5.10. Further Assurances
	  	 	37	 
	 SECTION 5.11. Section 16 Matters
	  	 	37	 
		
	ARTICLE VI	  			
		
	CONDITIONS TO CLOSING	  			
		
	 SECTION 6.01. Conditions to the Obligations of the Company and the Investor
	  	 	38	 
	 SECTION 6.02. Conditions to the Obligations of the Company
	  	 	38	 
	 SECTION 6.03. Conditions to the Obligations of the Investor
	  	 	39	 

  
 ii 

					
		
	ARTICLE VII	  			
		
	TERMINATION	  			
		
	 SECTION 7.01. Termination
	  	 	40	 
	 SECTION 7.02. Effect of Termination
	  	 	41	 
	 SECTION 7.03. Survival
	  	 	41	 
		
	ARTICLE VIII	  			
		
	MISCELLANEOUS	  			
		
	 SECTION 8.01. Amendments; Waivers
	  	 	41	 
	 SECTION 8.02. Extension of Time, Waiver, Etc.
	  	 	42	 
	 SECTION 8.03. Assignment
	  	 	42	 
	 SECTION 8.04. Counterparts
	  	 	42	 
	 SECTION 8.05. Entire Agreement; No Third-Party Beneficiaries
	  	 	42	 
	 SECTION 8.06. Governing Law; Jurisdiction
	  	 	42	 
	 SECTION 8.07. Specific Enforcement
	  	 	43	 
	 SECTION 8.08. WAIVER OF JURY TRIAL
	  	 	43	 
	 SECTION 8.09. Notices
	  	 	44	 
	 SECTION 8.10. Severability
	  	 	45	 
	 SECTION 8.11. Expenses
	  	 	45	 
	 SECTION 8.12. Interpretation
	  	 	45	 
	 SECTION 8.13. Adjustments in Share Numbers and Prices
	  	 	46	 
	 SECTION 8.14. Non-Recourse
	  	 	47	 

 ANNEXES 
  

					
	 Annex I
	  	 –  
	  	 Form of Development Agreement

	 Annex II    
	  	 –  
	  	 Form of Investor Rights Agreement

	 Exhibit A
	  	 –  
	  	 Select Terms and Conditions of the Offer

  

  
 iii 

 SECURITIES PURCHASE AGREEMENT, dated as of September 5, 2022 (this “Agreement”), by
and between ADT Inc., a Delaware corporation (the “Company”), and State Farm Fire & Casualty Company, an Illinois stock insurance company (the “Investor”). 

WHEREAS, the Company desires to issue, sell and deliver to the Investor, and the Investor desires to purchase and acquire from the
Company, pursuant to the terms and conditions set forth in this Agreement, 133,333,333 shares of common stock, par value $0.01 per share, of the Company (“Common Stock”, and the shares of Common Stock to be issued, sold, delivered,
purchased and acquired hereunder, the “Issued Shares”) at a price of $9.00 per share (the “Purchase Price”); 

WHEREAS, it is proposed that the Company commence a cash tender offer (the “Offer”) to acquire up to 133,333,333
shares of Common Stock and, in order to comply with the terms of the Company Charter, shares of Class B Common Stock (as defined below), in the aggregate (the “Maximum Amount”), at a per share price equal to the Purchase Price
(the “Offer Price”), and on the terms and conditions to be set forth in the Offer to Purchase (as defined below); 

WHEREAS, concurrently with the execution of this Agreement, and as a condition and material inducement to the willingness of the
Company to enter into this Agreement, the Company has entered into a Tender and Support Agreement with certain of the Company’s stockholders (the “T&S Agreement”), pursuant to which such stockholders have, among other
matters, agreed to collectively tender a number of shares of Common Stock beneficially owned by such stockholders equal in the aggregate to at least the Maximum Amount in the Offer; and 

WHEREAS, concurrently with the execution of this Agreement, and as a condition and material inducement to the willingness of the
Company to enter into this Agreement, the Company has entered into a Support Agreement (the “Google Support Agreement” and, together with the T&S Agreement, the “Support Agreements”) with Google LLC
(“Google Investor”) pursuant to which Google Investor has, among other matters, agreed to not tender any shares of Class B common stock, par value $0.01 per share, of the Company (“Class B Common
Stock”) or shares of Common Stock issued or issuable upon conversion of any shares of Class B Common Stock in the Offer. 

NOW, THEREFORE, in consideration of the mutual representations, warranties, covenants and agreements contained in this
Agreement, the receipt and sufficiency of which are hereby acknowledged, the parties to this Agreement hereby agree as follows: 
 ARTICLE
I 
 DEFINITIONS 

SECTION 1.01. Definitions. (a) As used in this Agreement (including the recitals hereto), the following terms shall have the
following meanings: 

 “Affiliate” means, with respect to any Person, any other Person that,
directly or indirectly, through one or more intermediaries, controls, is controlled by, or is under common control with, such Person. The term “control” means the possession, directly or indirectly, of the power to direct or cause the
direction of the management and policies of a Person, whether through the ownership of voting securities, by contract or otherwise, including the ability to elect at least a majority of the members of the board of directors or other governing body
of a Person, and the terms “controlled” and “controlling” have correlative meanings. Notwithstanding anything herein to the contrary, for purposes of this Agreement, other than in the case of the definition of “Related
Parties”, Section 3.31, Section 4.10, Section 5.04, Section 7.02 and Section 8.14, no portfolio company (other
than the Company and its Subsidiaries) or investment fund or account affiliated with or managed by affiliates of Apollo Global Management, Inc., shall be deemed Affiliates of any of the Company or its Subsidiaries, nor shall any of the Company or
its Subsidiaries be deemed Affiliates of any portfolio company (other than any of the Company or its Subsidiaries) or investment fund or account affiliated with or managed by affiliates of Apollo Global Management, Inc. 

“Aggregate Purchase Price” means the aggregate Purchase Price for the Issued Shares. 

“Antitrust Law” means any applicable Law of any jurisdiction designed to govern competition or prohibit, restrict or regulate
actions with the purpose or effect of monopolization or restraint of trade. 
 “Business Day” means any day except a
Saturday, a Sunday or other day on which the SEC or banks in the City of New York are authorized or required by Law to be closed; provided, however, for clarification, commercial banks shall not be deemed to be authorized or required
by Law to remain closed due to “stay at home”, “shelter-in-place”, “non-essential employee” or any
other similar orders or restrictions or the closure of any physical branch locations at the direction of any governmental authority so long as the electronic funds transfer systems (including for wire transfers) of commercial banks in the City of
New York generally are open for use by customers on such day. 
 “Company Board” means the Board of Directors of the
Company. 
 “Company Charter” means the Amended and Restated Certificate of Incorporation of the Company. 

“Company Equity Awards” means the outstanding Company Options, Company RSUs, Company PSUs and Company Restricted Shares,
whether granted under any Company Stock Plan or otherwise. 
 “Company Option” means an option to purchase shares of Common
Stock granted under any Company Stock Plan. 
 “Company Organizational Documents” means the Company Charter and the
Company’s bylaws. 

  
 2 

 “Company PSUs” means any Company RSU that is subject to performance-based
vesting or delivery requirements. 
 “Company Registered Intellectual Property Rights” means all Intellectual Property
Rights that (i) have been registered, filed, certified or otherwise recorded with or by any Governmental Authority (including domain name registrars), or any applications for any of the foregoing, and (ii) are Company-Owned Intellectual
Property. 
 “Company Restricted Share” means any share of Common Stock subject to forfeiture conditions granted under any
Company Stock Plan. 
 “Company RSUs” means any restricted stock unit payable in shares of Common Stock or whose value is
determined with reference to the value of shares of Common Stock under any Company Stock Plan. 
 “Company Stock Plans”
means the Company’s 2016 Equity Incentive Plan, the Company’s 2018 Omnibus Incentive Plan and applicable award agreements issued thereunder, in each case, as amended or restated from time to time. 

“Company Warrants” means all warrants issued pursuant to that certain Warrant Agreement entered into in connection with the
Company’s acquisition of CellBounce. 
 “Company-Owned Intellectual Property” means any and all Intellectual Property
owned or purported to be owned by the Company or its Subsidiaries. 
 “Consumer” means any individual person that is
transacting, has transacted or is seeking or sought by any person to transact for the lease or purchase of goods or services, an extension of credit, or other financial accommodation with respect to the products and services of the Company or its
Affiliates that is or is intended to be primarily used for personal, family or household use. This term shall include any current, past or future Customer. 

“Consumer Protection Laws” means all applicable Laws and implementing regulations (including those applicable Laws enforced
or administered by the Consumer Financial Protection Bureau, the Federal Trade Commission, and any other Governmental Authority (such as, by way of example, the California Department of Consumer Affairs)) that relate to Consumer rights, protections
or obligations related to marketing, advertising, soliciting, financing, selling or communicating through any medium to or any transaction with a Consumer, including leases of or contracts for the improvement of real or personal property, extensions
of credit and contracts for the sale, including the credit sale, of goods or services, including: (i) enforcing or enhancing safety standards of personal or real property utilized by Consumers; (ii) marketing or selling of any products to,
or leases, retail installment contracts, extensions of credit or financial accommodations offered to, or entered into with, Consumers; (iii) prevention of unfair, deceptive or abusive acts or practices related to Consumers; (iv) licensing,
registration and related requirements (including Permits) necessary to conduct business, engage in marketing, execute leases, sell products (including financial products) or 

  
 3 

 
extend credit with or to Consumers; (v) regulating the use, protection, disposal or dissemination of any information, including personally identifiable information, related to any Consumer
and obtained from any source; (vi) disclosures required to be provided to any Consumer in connection with any Consumer transaction or solicitation thereof; (vii) warranties provided to any Consumer; (viii) bankruptcy; (ix) collection
of delinquent debt or amounts owed by Customers; (x) limitations on any charges, fees, interest or costs charged to any Consumer in connection with any Consumer transaction; (xi) telephone call, ringless voicemail, text message, e-mail, print, television, radio, online, ringless voicemails, call recording, automated dialing, and word-of-mouth marketing towards
Consumers; and (xii) sales finance company, retail seller, contractor, home improvement contractor, home improvement salesperson, home alarm contractor, home alarm services, home alarm salesperson, locksmith, security alarm contractor, burglar
alarm contractor, fire alarm systems contractor, fire protection contractor, electrical/electric systems contractor, life safety, and property protection contractor marketing, selling, licensing and registration requirements enforced or administered
by any Governmental Authority (including for example the California Contractors State License Board). 
 “COVID-19” means SARS-CoV-2 or COVID-19, and any evolutions thereof or related or
associated epidemics, pandemics or disease outbreaks. 
 “Customer” means any Person who has elected to retain, purchase or
lease the goods or services of the Company or its Affiliates. 
 “Customer Agreement” means any contract or agreement
between (including any terms of service with) a Customer, on the one hand, and the Company or any of its Affiliates, on the other hand. 

“Development Agreement” means that certain Development Agreement to be entered into by and between the Company and the
Investor on the Closing Date, the form of which is set forth as Annex I hereto. 
 “Exchange Act” means the
Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder. 
 “Existing Credit
Facility” means that certain Ninth Amended and Restated First Lien Credit Agreement, dated as of July 1, 2015, by and among Prime Security Services Holdings, LLC, Prime Security Services Borrower, LLC, the lenders party thereto from
time to time and Barclays Bank PLC, as administrative agent, as amended, restated, supplemented or modified from time to time. 

“Fraud” means actual common law fraud in the making of a representation, warranty, or other statement committed by a Person
making such representation, warranty, or statement with the intent to deceive another Person, and to induce any Person to enter into this Agreement or any Transaction Document and requires (i) a false representation, warranty, or statement of
material fact, (ii) actual knowledge or belief that such representation, warranty, or statement is false, (iii) an 

  
 4 

 
intention to induce such other Person to whom such representation, warranty, or statement was made to act or refrain from acting in reliance upon it, (iv) causing that Person, in justifiable
reliance upon such false representation, warranty, or statement to take or refrain from taking action and (v) causing such Person or any party hereto to suffer damage by reason of such reliance. For clarity, a claim for Fraud may only be made
against such Person committing such Fraud, it being understood that if a Representative of a party commits Fraud, then such party shall be deemed to have committed such Fraud. 

“GAAP” means generally accepted accounting principles in the United States, consistently applied. 

“Governmental Authority” means any government, court, regulatory or administrative agency, arbitrator (public or private),
commission or authority or other legislative, executive or judicial governmental entity (in each case including any self-regulatory organization), whether federal, state or local, domestic, foreign or multinational. 

“HSR Act” means the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended. 

“Intellectual Property” shall mean any and all Intellectual Property Rights and Technology. 

“Intellectual Property Rights” shall mean all intellectual property rights, industrial property rights and proprietary rights
worldwide, whether registered or unregistered, including rights in and to (i) patents and utility models and inventions and invention disclosures (whether or not patentable), (ii) copyrights and moral rights, (iii) trade secrets, know-how, proprietary information (such as processes, formulae, models and methodologies), business or financial information, technical or engineering information and other
non-public or confidential information (“Trade Secrets”), (iv) trademarks, trade names, logos, service marks, trade dress, slogans, corporate names, DBAs, other similar designations of source
or origin and (v) domain names and any provisionals, divisionals, continuations, continuations-in-part, renewals, reissuances,
re-examinations and extensions of any of the foregoing (as applicable). 
 “Investor
Material Adverse Effect” means any effect, change, event or occurrence that has had, or would reasonably be expected to have, a material adverse effect on the Investor’s ability to consummate any of the Transactions on a timely basis
in accordance with the terms of this Agreement 
 “Investor Rights Agreement” means that certain Investor Rights Agreement
to be entered into by and between the Company and the Investor on the Closing Date, the form of which is set forth as Annex II hereto. 

“Knowledge” means, with respect to the Company, the actual knowledge of the individuals listed on Section 1.01 of the
Company Disclosure Letter after reasonable inquiry by such individuals of direct reports who would reasonably be expected to have actual knowledge. 

  
 5 

 “Material Adverse Effect” means any effect, change, event or occurrence
that has had, or would reasonably be expected to have, a material adverse effect on (x) the business, results of operations, assets or financial condition of the Company and its Subsidiaries, taken as a whole, or (y) the Company’s
ability to consummate any of the Transactions on a timely basis in accordance with the terms of this Agreement; provided, however, that, solely with respect to the foregoing clause (x), none of the following, and no effect, change,
event or occurrence arising out of, or resulting from, the following, shall constitute or be taken into account in determining whether a Material Adverse Effect has occurred or would reasonably be expected to occur: any effect, change, event or
occurrence (i) generally affecting (A) the industry in which the Company and its Subsidiaries operate or (B) the economy, credit or financial or capital markets, in the United States or elsewhere in the world, including changes in
interest or exchange rates, or (ii) to the extent arising out of, resulting from or attributable to (A) changes or prospective changes in, or issuances of new, Laws or GAAP or accounting standards, or any changes or prospective changes in
the interpretation or enforcement of any of the foregoing, or any changes or prospective changes in general legal, regulatory or political conditions, (B) the execution, announcement or performance of this Agreement or the consummation of the
Transactions, including the impact thereof on relationships, contractual or otherwise, with Customers, suppliers, distributors, partners, employees or regulators, or any claims or litigation arising from allegations of breach of fiduciary duty or
violation of Law relating to this Agreement or the Transactions, (C) acts of war (whether or not declared), sabotage or terrorism, or any escalation or worsening of any such acts of war (whether or not declared), sabotage or terrorism,
(D) volcanoes, tsunamis, epidemics, pandemics or disease outbreaks (including the COVID-19 pandemic), earthquakes, hurricanes, tornados or other natural disasters, (E) any action taken by the Company
or its Subsidiaries that is required by this Agreement or with the Investor’s written consent or at the Investor’s written request, or the failure to take any action by the Company or its Subsidiaries if that action is prohibited by this
Agreement, (F) any change resulting or arising from the identity of, or any facts or circumstances relating to, the Investor or any of its Affiliates, (G) any decline in the market price, or change in trading volume, of the capital stock
of the Company or (H) any failure to meet any internal or public projections, forecasts, guidance, estimates, milestones, budgets or internal or published financial or operating predictions of revenue, earnings, cash flow or cash position (it
being understood that the exceptions in clauses (G) and (H) shall not prevent or otherwise affect a determination that the underlying cause of any such change, decline or failure referred to therein (if not otherwise falling within any of the
exceptions provided by clause (i) and clauses (ii)(A) through (F) hereof) is a Material Adverse Effect); provided, further, however, that any effect, change, event or occurrence referred to in clause (i) or
clauses (ii)(A), (C) or (D) may be taken into account in determining whether there has been, or would reasonably be expected to be, a Material Adverse Effect if such effect, change, event or occurrence has a disproportionate adverse effect on
the business, results of operations, assets or financial condition of the Company and its Subsidiaries, taken as a whole, as compared to other participants in the industry in which the Company and its Subsidiaries operate (in which case only the
incremental disproportionate impact or impacts may be taken into account in determining whether there has been, or would reasonably be expected to be, a Material Adverse Effect). 

  
 6 

 “NYSE” means the New York Stock Exchange. 

“Person” means an individual, corporation, limited liability company, partnership, joint venture, association, trust,
unincorporated organization or any other entity, including a Governmental Authority. 
 “Representatives” means, with
respect to any Person, its officers, directors, principals, partners, managers, members, employees, consultants, agents, financial advisors, investment bankers, attorneys, accountants, other advisors, Affiliates and other representatives. 

“SEC” means the Securities and Exchange Commission. 

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

“Subsidiary”, when used with respect to any Person, means any corporation, limited liability company, partnership,
association, trust or other entity of which (i) securities or other ownership interests representing more than 50% of the ordinary voting power (or, in the case of a partnership, more than 50% of the general partnership interests) or
(ii) sufficient voting rights to elect at least a majority of the board of directors or other governing body are, as of such date, owned by such Person or one or more Subsidiaries of such Person or by such Person and one or more Subsidiaries of
such Person. 
 “Tax” means all federal, state, local and foreign income, profits, franchise, gross receipts,
environmental, customs duty, capital stock, severance, stamp, payroll, sales, employment, unemployment, disability, use, property, withholding, excise, license, production, value added, occupancy and other taxes, duties or other like assessments of
any nature whatsoever imposed by any Governmental Authority, together with all interest, penalties and additions imposed with respect to such amounts. 

“Tax Return” means all returns, declarations and reports (including any attached schedules) filed or required to be filed
with a Tax authority, including any information return, claim for refund, amended return, declaration of estimated Tax, election or disclosure. 

“Technology” shall mean any or all of the following (but not the Intellectual Property Rights therein): (i) works of
authorship, including software and documentation; (ii) inventions (whether or not patentable), discoveries and improvements, methods and processes; (iii) Trade Secrets; (iv) databases, data compilations and collections and customer
and technical data; (v) devices, prototypes, designs and schematics; and (vi) tangible items related to, constituting, disclosing or embodying any Intellectual Property Rights or any or all of the foregoing, including all versions thereof.

  
 7 

 “Transaction Documents” means this Agreement, the Development Agreement,
the Investor Rights Agreement and all other documents, certificates or agreements executed in connection with the transactions contemplated by this Agreement, the Development Agreement and the Investor Rights Agreement; provided that, for
purposes of this Agreement, in no event shall “Transaction Documents” be deemed to include any Offer Documents. 

“Transactions” means the Purchase and the other transactions contemplated by this Agreement, the Investor Rights Agreement,
the Development Agreement and all other documents, certificates or agreements executed in connection with the transactions contemplated hereby or thereby; provided that, for purposes of this Agreement, in no event shall
“Transactions” be deemed to include the Offer. 
 (b) In addition to the terms defined in
Section 1.01(a), the following terms have the meanings assigned thereto in the Sections set forth below: 
  

			
	 Term
	  	 Section

	Action	  	3.07
	Agreement	  	Preamble
	Applicable Date	  	Article III
	Balance Sheet Date	  	3.05(c)
	Bankruptcy and Equity Exception	  	3.03(a)
	Benefit Plan	  	3.21
	Capitalization Date	  	3.02(a)
	Class B Common Stock	  	Recitals
	Closing	  	2.02(a)
	Closing Date	  	2.02(a)
	Code	  	3.21
	Common Stock	  	Recitals
	Company	  	Preamble
	Company Disclosure Letter	  	Article III
	Company Fundamental Representations	  	6.03(a)
	Company Material Software	  	3.09(f)
	Company Preferred Stock	  	3.02(a)
	Company SEC Documents	  	3.05(a)
	Company Securities	  	3.02(b)
	Confidential Information	  	5.04
	Confidentiality Agreement	  	5.04
	Contract	  	3.03(b)
	Environmental Laws	  	3.22
	ERISA	  	3.21
	Filed SEC Documents	  	Article III
	Google Investor	  	Recitals
	Investment Company Act	  	3.17
	Investor	  	Preamble
	Issued Shares	  	Recitals

  
 8 

			
	 Term
	  	 Section

	IT Assets	  	3.26
	Judgments	  	3.07
	Laws	  	3.08
	Material Contracts	  	3.15
	Maximum Amount	  	Recitals
	Money Laundering Laws	  	3.25
	Multiemployer Plan	  	3.21
	OFAC	  	3.24
	Offer	  	Recitals
	Offer Documents	  	5.09(b)
	Offer to Purchase	  	5.09(b)
	Other Required Antitrust Laws	  	3.04
	Permits	  	3.08
	Personal and Device Data	  	3.27
	Privacy Requirements	  	3.27
	Privacy Shield Frameworks	  	3.27
	Purchase	  	2.01
	Purchase Price	  	Recitals
	Related Parties	  	8.14
	Restraints	  	6.01(a)
	Schedule TO	  	5.09(b)
	Security Incident	  	3.27
	Significant Subsidiaries	  	3.01(c)
	Termination Date	  	7.01(b)
	WARN	  	3.19

 ARTICLE II 

PURCHASE AND SALE 

SECTION 2.01. Purchase and Sale. On the terms of this Agreement and subject to the satisfaction (or, to the extent permitted by
applicable Law, waiver by the party entitled to the benefit thereof) of the conditions set forth in Article VI, at the Closing, the Investor shall purchase and acquire from the Company, and the Company shall issue, sell and deliver to the
Investor, the Issued Shares, free and clear of all liens, except restrictions imposed by applicable securities Laws, the Company Charter and the Transaction Documents, for a purchase price per share equal to the Purchase Price and an aggregate
purchase price equal to the Aggregate Purchase Price. The purchase and sale of the Issued Shares pursuant to this Section 2.01 is referred to as the “Purchase”. 

SECTION 2.02. Closing. (a) On the terms of this Agreement, the closing of the Purchase (the “Closing”) shall
occur at 10:00 a.m. (New York City time) on the second Business Day after all of the conditions to the Closing set forth in Article VI of this Agreement have been satisfied or, to the extent permitted by applicable Law, waived by the party
entitled to the benefit thereof (other than those conditions that by 

  
 9 

 
their nature are to be satisfied at the Closing, but subject to the satisfaction or waiver of those conditions at such time) either (i) remotely via telephone or video conference,
(ii) at the offices of Cravath, Swaine & Moore LLP, 825 Eighth Avenue, New York, New York 10019 or (iii) at such other place, time or date as shall be agreed between the Company and the Investor (the date on which the Closing
occurs, the “Closing Date”). 
 (b) At the Closing: 

(i) the Company shall deliver to the Investor (A) the Issued Shares, free and clear of all liens, except restrictions
imposed by applicable securities Laws, the Company Charter and the Transaction Documents, (B) a duly executed counterpart of the Investor Rights Agreement and (C) a duly executed counterpart of the Development Agreement; and 

(ii) the Investor shall (A) pay the Aggregate Purchase Price to the Company by wire transfer in immediately available U.S.
federal funds to an account designated by the Company in writing prior thereto and (B) deliver to the Company (I) a duly executed counterpart of the Investor Rights Agreement and (II) a duly executed counterpart of the Development
Agreement. 
 ARTICLE III 

REPRESENTATIONS AND WARRANTIES OF THE COMPANY 

The Company represents and warrants to the Investor, as of the date hereof and as of the Closing Date (except to the extent made only as of a
specified date, in which case such representation and warranty is made as of such date), that, except as (a) set forth in the confidential disclosure letter delivered by the Company to the Investor concurrently with the execution of this
Agreement (the “Company Disclosure Letter”) (it being understood that any information, item or matter set forth in one section or subsection of the Company Disclosure Letter shall be deemed a disclosure with respect to, and shall be
deemed to apply to and qualify, the section or subsection of this Agreement to which it corresponds in number and each other section or subsection of this Agreement to the extent that it is reasonably apparent on its face that such information, item
or matter is relevant to such other section or subsection) or (b) disclosed in any report, schedule, form, statement or other document (including exhibits) filed with, or furnished to, the SEC (and remaining publicly available) after
January 1, 2020 (the “Applicable Date”) and prior to the date hereof (the “Filed SEC Documents”), other than any risk factor disclosures in any such Filed SEC Document contained in the “Risk Factors”
section thereof or any forward-looking statements within the meaning of the Securities Act or the Exchange Act thereof (it being acknowledged that nothing disclosed in the Filed SEC Documents shall be deemed to qualify or modify the Company
Fundamental Representations): 

  
 10 

 SECTION 3.01. Organization; Standing; Subsidiaries. 

(a) The Company is a corporation duly organized and validly existing and in good standing under the Laws of the State of Delaware and has all
requisite corporate power and corporate authority necessary to carry on its business as it is now being conducted, except (other than with respect to the Company’s due organization and valid existence and good standing) as would not,
individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. The Company is duly licensed or qualified to do business and is in good standing (where such concept is recognized under applicable Law) in each jurisdiction
in which the nature of the business conducted by it or the character or location of the properties and assets owned or leased by it makes such licensing or qualification necessary, except where the failure to be so licensed, qualified or in good
standing would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. True and complete copies of the Company Organizational Documents are included in the Filed SEC Documents. Except as disclosed in the
Filed SEC Documents, the Company is not in violation of the Company Organizational Documents. 
 (b) Each of the Company’s Subsidiaries
is duly organized, validly existing and in good standing (where such concept is recognized under applicable Law) under the Laws of the jurisdiction of its organization, except where the failure to be so organized, existing and in good standing would
not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. Each of the Company’s Subsidiaries is duly licensed or qualified to do business and is in good standing (where such concept is recognized under
applicable Law) in each jurisdiction in which the nature of the business conducted by it or the character or location of the properties and assets owned or leased by it makes such licensing or qualification necessary, except where the failure to be
so licensed, qualified or in good standing would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

(c) The Company does not own or control, directly or indirectly, any corporation, association or other entity other than the Subsidiaries
listed in Exhibit 21 to the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021 except for Subsidiaries that would not constitute a “significant subsidiary” (as
defined in Rule 405 under the Securities Act). Each of ADT LLC, a Delaware limited liability company, Prime Security Services Borrower, LLC, a Delaware limited liability company, Prime Security Services Holdings, LLC, a Delaware limited liability
company, The ADT Security Corporation, a Delaware corporation, ADT Commercial LLC, a Colorado limited liability company, Compass Solar Group, LLC, a Delaware limited liability company, Fire and Security Holdings, LLC, a Delaware limited liability
company and ADT Solar LLC, a Louisiana limited liability company (collectively, the “Significant Subsidiaries”), is wholly owned, directly or indirectly, by the Company and is a “significant subsidiary” (as defined in Rule
405 under the Securities Act) of the Company. All of the issued and outstanding shares of capital stock or other ownership interests of each of the Company’s Subsidiaries (i) have been duly authorized and validly issued and, in the case of
corporations, are fully paid and non-assessable, and (ii) are owned directly or indirectly by the Company, free and clear of all liens, encumbrances, equities or claims, except for such liens,
encumbrances, equities or claims as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. Except as disclosed in the Filed SEC Documents, the Company’s Subsidiaries are not in violation of their
respective organizational documents. 

  
 11 

 SECTION 3.02. Capitalization. 

(a) The authorized capital stock of the Company consists of 3,999,000,000 shares of Common Stock, 100,000,000 shares of Class B Common
Stock and 1,000,000 shares of preferred stock, par value $0.01 per share (“Company Preferred Stock”). At the close of business on August 29, 2022 (the “Capitalization Date”), (i) no shares of Company Preferred
Stock were issued or outstanding; (ii) 857,048,818 shares of Common Stock were issued and outstanding (including 9,395,298 shares of Company Restricted Shares (assuming attainment of the maximum level of performance for performance-based Company
Restricted Shares)) and no shares of Common Stock were held by the Company in its treasury; (iii) 54,744,525 shares of Class B Common Stock were issued and outstanding, (iv) 148,367 shares of Common Stock were reserved and available for
issuance upon exercise of the Company Warrants and (v) 112,545,456 shares of Common Stock were reserved for issuance pursuant to the Company Stock Plans, of which (A) 34,673,287 shares of Common Stock were subject to outstanding Company Options
(assuming settlement of outstanding awards based on maximum achievement of applicable performance goals), (B) 13,433,121 shares of Common Stock were subject to outstanding Company RSUs (including, to the extent applicable, any accrued but unpaid
dividend equivalents reinvested as additional Company RSUs) and (C) 2,192,070 shares of Common Stock were subject to outstanding Company PSUs (assuming attainment of all applicable performance-based vesting requirements based on maximum achievement
of applicable performance goals). From the close of business on the Capitalization Date until the date of this Agreement, no options to purchase shares of Common Stock have been granted and no shares of Common Stock have been issued, except for
shares of Common Stock issued upon the vesting and settlement of Company Equity Awards in accordance with the terms of the Company Stock Plans. 

(b) Except as described in this Section 3.02, as of the Capitalization Date, there were (i) no outstanding
shares of capital stock of, or other equity or voting interests in, the Company, (ii) no outstanding securities of the Company convertible into or exchangeable for shares of capital stock of, or other equity or voting interests in, the Company,
(iii) no outstanding options, warrants, rights or other commitments or agreements to acquire from the Company, or that obligate the Company to issue, any capital stock of, or other equity or voting interests in, or any securities convertible
into or exchangeable for shares of capital stock of, or other equity or voting interests in, the Company other than obligations under the Company Stock Plans in the ordinary course of business, (iv) no obligations of the Company to grant,
extend or enter into any subscription, warrant, right, convertible or exchangeable security or other similar agreement or commitment relating to any capital stock of, or other equity or voting interests in, the Company (the items in clauses (i),
(ii), (iii) and (iv) being referred to collectively as “Company Securities”) and (v) no other obligations by the Company or any of its Subsidiaries to make any payments based on the price or value of any Company
Securities. There are no outstanding agreements of any kind which obligate the Company or any of its Subsidiaries to repurchase, redeem or otherwise acquire any 

  
 12 

 
Company Securities (other than pursuant to the cashless exercise of Company Options or the forfeiture or withholding of Taxes with respect to the exercise of Company Options or the vesting and/or
settlement of Company RSUs, Company PSUs or Company Restricted Shares), or obligate the Company to grant, extend or enter into any such agreements relating to any Company Securities, including any agreements granting any preemptive rights,
subscription rights, anti-dilutive rights, rights of first refusal or similar rights with respect to any Company Securities. Except as disclosed in the Filed SEC Documents, none of the Company or any Subsidiary of the Company is a party to any
stockholders’ agreement, voting trust agreement, registration rights agreement or other similar agreement or understanding relating to any Company Securities or any other agreement relating to the disposition, voting or dividends with respect
to any Company Securities, and there are no Contracts requiring the Company to include any such securities in the Issued Shares to be sold pursuant to this Agreement, except for such Contracts that have been validly waived in writing prior to the
date hereof. All outstanding shares of Common Stock have been duly authorized and validly issued and are fully paid, non-assessable and were not issued in violation of the Company Organizational Documents or
any preemptive right, resale right, right of first refusal or similar right. The Issued Shares will be, when issued, duly authorized and validly issued, free and clear of all liens, except restrictions imposed by applicable securities Laws, the
Company Charter and the Transaction Documents, fully paid and non-assessable and issued in compliance with all applicable federal and state securities laws. No Person is entitled to preemptive rights, rights
of first refusal, rights of participation or similar rights with respect to the Issued Shares. 
 SECTION 3.03. Authority;
Noncontravention. 
 (a) The Company has, and, as applicable, its Subsidiaries have, all necessary power and authority to execute and
deliver this Agreement and the other Transaction Documents, as applicable, and to perform its and their obligations hereunder and thereunder and to consummate the Transactions. The execution, delivery and performance by the Company and its
Subsidiaries, as applicable, of this Agreement and the other Transaction Documents, and the consummation by the Company and its Subsidiaries, as applicable, of the Transactions, have been duly authorized by the Company Board and the equivalent
governing body of its Subsidiaries, as applicable, and no other corporate or similar action on the part of the Company or its Subsidiaries, as applicable, is necessary to authorize the execution, delivery and performance by the Company and its
Subsidiaries, as applicable, of this Agreement and the other Transaction Documents and the consummation by the Company and its Subsidiaries, as applicable, of the Transactions. This Agreement has been, and at the Closing the other Transaction
Documents to which the Company and its Subsidiaries, as applicable, are party will be, duly executed and delivered by the Company and its Subsidiaries, as applicable, and, assuming due authorization, execution and delivery hereof or thereof, as
applicable, by the Investor and its Affiliates, as applicable, constitutes (or in the case of such other Transaction Documents, at the Closing will constitute) a legal, valid and binding obligation of the Company and its Subsidiaries, as applicable,
enforceable against the Company and its Subsidiaries, as applicable in accordance with its terms, except that such enforceability (i) may be limited by bankruptcy, insolvency, fraudulent transfer,

  
 13 

 
reorganization, moratorium and other similar Laws of general application affecting or relating to the enforcement of creditors’ rights generally and (ii) is subject to general
principles of equity, whether considered in a proceeding at law or in equity (the “Bankruptcy and Equity Exception”). The Company Board, at a duly called and held meeting, has unanimously approved the form, terms and conditions of
this Agreement and authorized the Company to execute, deliver and perform its obligations under and consummate the transactions contemplated by this Agreement. No vote or approval of the holders of any class or series of capital stock of the Company
or any of its Subsidiaries is required to approve the Transactions that has not already been obtained. 
 (b) Neither the execution and
delivery of this Agreement or the other Transaction Documents by the Company or its Subsidiaries, as applicable, nor the consummation by the Company of the Transactions, nor performance or compliance by the Company or its Subsidiaries, as
applicable, with any of the terms or provisions hereof or thereof, will (i) conflict with or violate any provision of (A) the Company Organizational Documents or (B) the similar organizational documents of any of the Company’s
Subsidiaries, as applicable or (ii) assuming that the authorizations, consents and approvals referred to in Section 3.04 are obtained prior to the Closing Date and the filings referred to in
Section 3.04 are made and any waiting periods with respect to such filings have terminated or expired prior to the Closing Date, (x) violate any Law or Judgment applicable to the Company or any of its Subsidiaries, as
applicable or (y) violate or constitute a default (or constitute an event which, with notice or lapse of time or both, would violate or constitute a default) under any of the terms, conditions or provisions of any loan or credit agreement,
indenture, debenture, note, bond, mortgage, deed of trust, lease, sublease, license, contract or other agreement (each, a “Contract”) to which the Company or any of its Subsidiaries, as applicable, is a party or accelerate the
Company’s or, if applicable, any of its Subsidiaries’ obligations under any such Contract, except, in the case of clause (i)(B) and clause (ii), as would not, individually or in the aggregate, reasonably be expected to have a Material
Adverse Effect. 
 SECTION 3.04. Governmental Approvals. Except for (a) filings required under, and compliance with other
applicable requirements of, (i) the HSR Act and (ii) the other Antitrust Laws set forth in Section 3.04 of the Company Disclosure Letter (the “Other Required Antitrust Laws”), (b) filings required under, and
compliance with other applicable requirements of, the Securities Act and the Exchange Act (including the filing of the Offer Documents with the SEC and any amendments or supplements thereto), (c) compliance with the rules and regulations of the
NYSE, (d) compliance with any applicable state securities or “Blue Sky” Laws and (e) any change in control requirements under Consumer Protection Laws, no consent or approval of, or filing, license, permit or authorization,
declaration or registration with, any Governmental Authority is necessary for the execution and delivery of this Agreement and the other Transaction Documents by the Company, the performance by the Company of its obligations hereunder and thereunder
and the consummation by the Company of the Transactions, other than such other consents, approvals, filings, licenses, permits or authorizations, declarations or registrations that, if not obtained, made or given, would not, individually or in the
aggregate, reasonably be expected to have a Material Adverse Effect. 

  
 14 

 SECTION 3.05. Company SEC Documents; Undisclosed Liabilities. 

(a) The Company has filed with the SEC, on a timely basis, all required reports, schedules, forms, statements and other documents required to
be filed by the Company with the SEC pursuant to the Exchange Act since the Applicable Date (collectively, the “Company SEC Documents”). As of their respective SEC filing dates, the Company SEC Documents complied in all material
respects with the requirements of the Securities Act, the Exchange Act or the Sarbanes-Oxley Act of 2002 (and the regulations promulgated thereunder), as the case may be, applicable to such Company SEC Documents, and none of the Company SEC
Documents as of such respective dates (or, if amended prior to the date hereof, the date of the filing of such amendment, with respect to the disclosures that are amended) contained any untrue statement of a material fact or omitted to state a
material fact necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading. The Company has never been an issuer subject to Rule 144(i) under the Securities Act. 

(b) The consolidated financial statements of the Company (including all related notes or schedules) included or incorporated by reference in
the Company SEC Documents complied as to form, as of their respective dates of filing with the SEC, in all material respects with the published rules and regulations of the SEC with respect thereto, have been prepared in accordance with GAAP
(except, in the case of unaudited quarterly statements, as permitted by Form 10-Q of the SEC or other rules and regulations of the SEC) applied on a consistent basis during the periods involved (except
(i) as may be indicated in the notes thereto or (ii) as permitted by Regulation S-X) and fairly present in all material respects the consolidated financial position of the Company and its
consolidated Subsidiaries as of the dates thereof and the consolidated results of their operations and cash flows for the periods shown (subject, in the case of unaudited quarterly financial statements, to normal
year-end adjustments which are not material, individually or in the aggregate, and the absence of footnote disclosures which if presented, would not reasonably be expected to differ materially from those
presented in the audited financial statements forming part of the Company SEC Documents). 
 (c) Neither the Company nor any of its
Subsidiaries has any liabilities of any nature (whether accrued, absolute, asserted or unasserted, known or unknown, contingent or otherwise) that would be required under GAAP, as in effect on the date hereof, to be reflected on a consolidated
balance sheet of the Company (including the notes thereto), except liabilities (i) specifically reflected or reserved against in the balance sheet (or the notes thereto) of the Company and its Subsidiaries as of June 30, 2022 (the
“Balance Sheet Date”) included in the Filed SEC Documents, (ii) incurred after the Balance Sheet Date in the ordinary course of business (none of which is a liability for material breach of a Contract, tort, infringement or
violation of Law), (iii) as expressly contemplated by this Agreement or otherwise incurred in connection with the Transactions, (iv) that have been discharged or paid prior to the date of this Agreement or (v) as would not, individually or
in the aggregate, reasonably be expected to be material to the Company and its Subsidiaries, taken as a whole. Neither the Company nor any of its Subsidiaries is a party to, or has any commitment to become a party to, any material “off balance
sheet arrangement” within the meaning of Item 303 of Regulation S-K promulgated under the Securities Act. 

  
 15 

 (d) The Company has established and maintains disclosure controls and procedures and
internal controls over financial reporting (as such terms are defined in paragraphs (e) and (f), respectively, of Rule 13a-15 under the Exchange Act) as required by Rules
13a-15 and 15d-15 of the Exchange Act. Such disclosure controls and procedures are designed and effective to ensure that material information required to be disclosed in
the Company’s periodic reports filed or submitted under the Exchange Act is recorded and reported on a timely basis to the individuals responsible for the preparation of the Company’s filings with the SEC and other public disclosure
documents. The Company is, and has been since the Applicable Date, in compliance in all material respects with the applicable provisions of the Sarbanes-Oxley Act of 2002. Since the Applicable Date through the date hereof, the Company has not
identified (i) any material weakness or significant deficiency in the design or operation of internal control over financial reporting which is reasonably likely to adversely affect the Company’s ability to record, process, summarize and
report financial information or (ii) any fraud or allegation of fraud, whether or not material, that involves management or other employees who have a significant role in the Company’s internal control over financial reporting. 

SECTION 3.06. Information Supplied. None of the information supplied or to be supplied by or on behalf of the Company for inclusion or
incorporation by reference in the Offer Documents (including any amendments or supplements thereto) will, at the time the Offer Documents (or any amendment or supplement thereto) are filed with the SEC or at the time the Offer Documents (or any
amendment or supplement thereto) are first published, sent or given to the holders of Common Stock and Class B Common Stock, contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or
necessary to make the statements therein, in light of the circumstances under which they are made, not false or misleading. Notwithstanding the foregoing, the Company makes no representation or warranty with respect to any statement made in the
Offer Documents supplied by or on behalf of the Investor which is contained or incorporated by reference in the Offer Documents. 
 SECTION
3.07. Absence of Certain Changes. 
 (a) Since December 31, 2021, the Company and its Subsidiaries have conducted their
businesses in all material respects in the ordinary course consistent with past practice and have not taken any action that if taken after the date hereof would require the consent of the Investor pursuant to the terms of
Section 5.01(c), (d), (f), (h), (i) or (k) hereof. 
 (b) Since
December 31, 2021 there has not been any Material Adverse Effect. 

  
 16 

 SECTION 3.08. Legal Proceedings. Except as would not, individually or in the
aggregate, reasonably be expected to have a Material Adverse Effect, there is no (a) pending or, to the Knowledge of the Company, threatened legal or administrative proceeding, suit, investigation, arbitration or action (an
“Action”) against the Company or any of its Subsidiaries, or (b) outstanding order, judgment, injunction, ruling, writ or decree of any Governmental Authority (“Judgments”) imposed upon the Company or any of
its Subsidiaries, in each case, by or before any Governmental Authority. 
 SECTION 3.09. Compliance with Laws; Permits. The Company
and each of its Subsidiaries are and its and their business and operations are, and since the Applicable Date have been, in compliance with all local, state or federal laws, common law, statutes, ordinances, codes, rules or regulations
(“Laws”), including Consumer Protection Laws, or Judgments, applicable to the Company or any of its Subsidiaries, except as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. The
Company and each of its Subsidiaries hold and maintain all licenses, registrations, franchises, permits, certificates, approvals and authorizations from Governmental Authorities (“Permits”) necessary for the lawful conduct of their
respective businesses, except where the failure to hold or maintain the same would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

SECTION 3.10. Intellectual Property. (a) The Company and its Subsidiaries (i) own or possess adequate rights to use all
Company-Owned Intellectual Property and other Intellectual Property used in or held for use in the conduct of their respective businesses and (ii) own all right, title and interest to the Company-Owned Intellectual Property free and clear of
all liens, except where the failure to own or possess such Intellectual Property Rights or Technology would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. To the Knowledge of the Company, the Company
Registered Intellectual Property Rights are valid, subsisting and enforceable, except as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

(b) The Company and its Subsidiaries’ conduct of their respective businesses (i) does not infringe, misappropriate or otherwise
violate any Intellectual Property of any Person and (ii) has not since the Applicable Date infringed, misappropriated, or otherwise violated any Intellectual Property of any other person, in each case in a manner that would, individually or in
the aggregate, reasonably be expected to have a Material Adverse Effect. 
 (c) Neither the Company nor any of its Subsidiaries has received
any written notice of any claim of infringement, misappropriation or conflict with any Intellectual Property of any Person, which would, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

(d) To the Knowledge of the Company, the Company-Owned Intellectual Property is not being infringed, misappropriated or otherwise violated by
any Person in a manner that would, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

  
 17 

 (e) Except as would not, individually or in the aggregate, reasonably be expected to have a
Material Adverse Effect, each of the Company and its Subsidiaries has taken commercially reasonable steps to protect and maintain its Company-Owned Intellectual Property, including using commercially reasonable efforts and taking commercially
necessary steps to maintain their material Trade Secrets in confidence. 
 (f) Except as would not, individually or in the aggregate,
reasonably be expected to have a Material Adverse Effect, neither the Company nor its Subsidiaries distribute or have distributed any software, the source code to which is material to the Company’s or its Subsidiaries’ business
(“Company Material Software”), to third parties that, based on the distribution of the Company Material Software, requires the Company or its applicable Subsidiary to also license or make available to such third party any source
code to Company Material Software that is Company-Owned Intellectual Property. Except as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect, the Company and its Subsidiaries have no duty or
obligation (whether present, contingent, or otherwise) to deliver, license or make available any Company Material Software that is Company-Owned Intellectual Property to any escrow agent or any other Person. 

SECTION 3.11. Tax Matters. Except as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse
Effect: (a) the Company and each of its Subsidiaries has prepared (or caused to be prepared) and timely filed (taking into account valid extensions of time within which to file) all Tax Returns required to be filed by any of them, and all such
filed Tax Returns (taking into account all amendments thereto) are true, complete and accurate, (b) all Taxes owed by the Company and each of its Subsidiaries that are due (whether or not shown on any Tax Return) have been timely paid, except
for Taxes that are being contested in good faith by appropriate proceedings and that have been adequately reserved against in accordance with GAAP, (c) no examination or audit of any Tax Return relating to any Taxes of the Company or any of its
Subsidiaries or with respect to any Taxes due from the Company or any of its Subsidiaries by any Governmental Authority is currently in progress or threatened in writing and (d) within the past three years, neither the Company nor any of its
Subsidiaries has engaged in any “listed transaction” within the meaning of Treasury Regulations Section 1.6011-4(b)(2). 

SECTION 3.12. No Rights Agreement; Anti-Takeover Provisions. The Company is not party to a stockholder rights agreement, “poison
pill” or similar anti-takeover agreement or plan. Assuming the accuracy of the representation contained in Section 4.05, no “control share acquisition,” “fair price,” “moratorium,” “business
combination” or other anti-takeover Law of the State of Delaware or any similar provisions in the Company Organizational Documents is applicable to, or, at the Closing will be applicable to, this Agreement, any Transaction Document or any of
the Transactions.
 SECTION 3.13. Brokers and Other Advisors. Other than Citigroup Global Markets Inc. and Evercore Group LLC, no
broker, investment banker, financial advisor or other Person is entitled to any broker’s, finder’s, financial advisor’s or other similar fee or commission, or the reimbursement of expenses in connection therewith, in connection with
the Transactions based upon arrangements made by or on behalf of the Company or any of its Subsidiaries. 

  
 18 

 SECTION 3.14. Sale of Securities. Assuming the accuracy of the representations and
warranties set forth in Section 4.09(a), the offer, sale and issuance of the Issued Shares pursuant to this Agreement is exempt from the registration and prospectus delivery requirements of the Securities Act. Without
limiting the foregoing, neither the Company nor, to the Knowledge of the Company, any other Person authorized by the Company to act on its behalf, has engaged in a general solicitation or general advertising (within the meaning of Regulation D of
the Securities Act) of investors with respect to offers or sales of the Issued Shares pursuant to this Agreement, and neither the Company nor, to the Knowledge of the Company, any Person acting on its behalf has made any offers or sales of any
security or solicited any offers to buy any security, under circumstances that would cause the offering or issuance of the Issued Shares under this Agreement to be integrated with prior offerings by the Company for purposes of the Securities Act
that would result in none of Regulation D or any other applicable exemption from registration under the Securities Act to be available, nor will the Company take any action or steps that would cause the offering or issuance of the Issued Shares
under this Agreement to be integrated with other offerings by the Company. 
 SECTION 3.15. Listing and Maintenance Requirements. The
Common Stock is registered pursuant to Section 12(b) of the Exchange Act and listed on the NYSE, and the Company has taken no action designed to, or which to the Knowledge of the Company is reasonably likely to have the effect of, terminating
the registration of the Common Stock under the Exchange Act or delisting the Common Stock from the NYSE, nor has the Company received as of the date of this Agreement any notification that the SEC or the NYSE is contemplating terminating such
registration or listing. 
 SECTION 3.16. Regulatory Filings. Neither the Company nor any of its Subsidiaries has failed to file with
the applicable Governmental Authority any required filing, declaration, listing, registration, report or submission, except for such failures that would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.
All such filings, declarations, listings, registrations, reports or submissions were in compliance with applicable Laws when filed and no deficiencies have been asserted by any applicable Governmental Authority with respect to any such filings,
declarations, listings, registrations, reports or submissions, except for any deficiencies that would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

SECTION 3.17. Material Contracts. The Company has described in or filed as exhibits to the Filed SEC Documents all Contracts (including
all amendments thereto) that are required to be described or filed in the Filed SEC Documents (collectively, the “Material Contracts”). Each Material Contract (excluding any Benefit Plan) is valid and binding on the Company and each
of its Subsidiaries party thereto and, to the Knowledge of the Company, each other party thereto, and is in full force and effect and enforceable in accordance with its terms, subject to the Bankruptcy and Equity

  
 19 

 
Exception, except (a) to the extent that any Material Contract expires or terminates in accordance with its terms and (b) for such failures that would not, individually or in the
aggregate, reasonably be expected to be material to the Company and its Subsidiaries, taken as a whole. As of the date hereof, neither the Company nor any of its Subsidiaries is in default under any Material Contract, and no event has occurred that,
with notice or lapse of time or both, would constitute such a default, in the due performance or observance of any term, covenant, condition or other obligation contained in any Material Contract to which it is a party, by which it is bound or to
which any of its properties or assets is subject, except to the extent any such default would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

SECTION 3.18. Properties and Assets. The Company and each of its Subsidiaries have good and insurable title in fee simple to (in the
case of owned real property), or have valid, subsisting and enforceable leases or rights to otherwise use, all real and personal property, in each case, that are material to the respective businesses of the Company and its Subsidiaries, taken as a
whole, free and clear of all liens, encumbrances and defects, except for such liens, encumbrances and defects that (a) do not materially interfere with the use made and proposed to be made of such property by the Company and its Subsidiaries or
(b) would not, individually or in the aggregate, have a Material Adverse Effect. 
 SECTION 3.19. Investment Company. The
Company is not, and will not be, after giving effect to the offer and sale of the Issued Shares, (a) required to register as an “investment company” (within the meaning of the Investment Company Act of 1940, as amended (the
“Investment Company Act”)) or (b) a “business development company” (as defined in Section 2(a)(48) of the Investment Company Act). 

SECTION 3.20. Insurance. Except as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse
Effect, the Company and each of its Subsidiaries maintain insurance from nationally recognized, in the applicable country, insurers in such amounts and covering their respective properties, operations, personnel and businesses, which insurance is in
amounts and insures against such losses and risks as are adequate to protect the Company and its Subsidiaries and their respective businesses, taken as a whole. All material insurance policies of the Company and its Subsidiaries are in full force
and effect and all premiums due and payable thereon have been paid in full. Except as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect, (a) neither the Company nor any of its Subsidiaries has
received notice from any insurer or agent of such insurer that capital improvements or other expenditures are required or necessary to be made in order to continue such insurance, (b) there are no material claims by the Company or any of its
Subsidiaries under any such policy or instrument as to which any insurance company is denying liability or defending under a reservation of rights clause, and (c) neither the Company nor any such Subsidiary has any reason to believe that it
will not be able to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business. 

  
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 SECTION 3.21. Labor Matters. No labor disturbance by or dispute with the employees of
the Company or any of its Subsidiaries exists or, to the Knowledge of the Company, is imminent that would, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. Neither the Company nor any of its Subsidiaries is
in violation of or has received written notice of any violation with respect to any federal or state law relating to employment, employment practices, terms and conditions of employment, collective bargaining, worker classification (including the
proper classification of workers as independent contractors or consultants), discrimination in the hiring, promotion or pay of employees, nor any applicable federal or state wage and hour laws, nor any state law precluding the denial of credit due
to the neighborhood in which a property is situated, the violation of any of which would, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. None of the Company or any of its Subsidiaries has taken any action
that would constitute a “plant closing” or “mass layoff” within the meaning of the Worker Adjustment Retraining Notification Act of 1988, as amended, or any similar state, local or foreign Law (“WARN”), issued
any notification of a plant closing or mass layoff required by WARN, or incurred any liability or obligation under WARN that remains unsatisfied, except as would not, individually or in the aggregate, reasonably be expected to have a Material
Adverse Effect. Section 3.21 of the Company Disclosure Letter sets forth a list, as of the date hereof, of each collective bargaining agreement that the Company or any of its Subsidiaries is party to or bound by that is
with any union or similar labor relations entity. 
 SECTION 3.22. Market Activities. The Company and its controlled Affiliates have
not taken, directly or indirectly, any action designed to or that has constituted or that would reasonably be expected to cause or result in the stabilization or manipulation of the price of any security of the Company in connection with the
offering of the Issued Shares. 
 SECTION 3.23. Benefit Plans. (a) Each “employee benefit plan” (within the meaning of
Section 3(3) of the Employee Retirement Security Act of 1974, as amended (“ERISA”)) for which the Company or any member of its “Controlled Group” (defined as any organization which is a member of a controlled group of
corporations within the meaning of Section 414 of the Internal Revenue Code of 1986, as amended (the “Code”)) would have any liability (each, a “Benefit Plan”) has been maintained in compliance in all material
respects with its terms and with the requirements of all applicable statutes, rules and regulations including, without limitation, ERISA and the Code; (b) no “prohibited transaction” (within the meaning of Section 406 of ERISA or
Section 4975 of the Code) has occurred with respect to any Benefit Plan and with respect to any multiemployer plan, within the meaning of Section 3(3) of ERISA (each, a “Multiemployer Plan”), to the Knowledge of the
Company, excluding transactions effected pursuant to a statutory or administrative exemption; (c) each Benefit Plan that is intended to be qualified under Section 401(a) of the Code is so qualified and nothing has occurred, to the
Knowledge of the Company, whether by action or by failure to act, which would cause the loss of such qualification; (d) with respect to any Benefit Plan sponsored or maintained by the Company or any member of its Controlled Group that is
subject to Title IV of ERISA and in the case of each Multiemployer Plan, to the 

  
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Knowledge of the Company: (i) there is no “accumulated funding deficiency” under Section 412 of the Code or Section 203 of ERISA, (ii) no such Benefit Plan is, or,
is expected to be, “at-risk” (under Section 303(i)(4)(A) of ERISA or Section 430(i)(4)(A) of the Code); (iii) no “reportable event” under Section 4043 of ERISA (excluding any
such event for which the 30 day notice requirement has been waived under the regulations to Section 4043 of ERISA) has occurred, nor has any event described in Sections 4062, 4063 or 4041 of ERISA occurred; (iv) any premiums to the Pension
Benefit Guaranty Corporation (“PBGC”) have been timely paid in full and (v) no material unsatisfied liability (other than any premiums to the PBGC) under Title IV of ERISA has been, or is expected to be, incurred by the Company
or any Subsidiary; and (e) none of the execution and delivery of this Agreement nor the consummation of the Transactions (either alone or in conjunction with any other event) would reasonably be expected to (A) result in any material
payment (including severance and unemployment compensation, forgiveness of indebtedness or otherwise) becoming due to any current or former director or any employee of the Company or any Subsidiary of the Company under any Benefit Plan or otherwise,
(B) increase any material benefits otherwise payable under any Benefit Plan, (C) result in any acceleration of the time of payment, funding or vesting of any such benefits, and (D) result in any material breach or violation of, or
default under or materially limit the Company’s right to amend, modify, terminate or transfer the assets of, any Benefit Plan, except in each case with respect to the events or conditions set forth in (a) through (e) hereof, as would not,
individually or in the aggregate, have a Material Adverse Effect. 
 SECTION 3.24. Environmental Laws. Except as disclosed in the
Filed SEC Documents, the Company and each of its Subsidiaries (a) are, and at all times since the Applicable Date were, in compliance with all laws, regulations, ordinances, rules, orders, judgments, decrees, permits or other legal requirements
of any Governmental Authority, including without limitation any international, foreign, national, state, provincial, regional, or local authority, relating to pollution, the protection of human health or safety (as it relates to exposure to
hazardous or toxic materials), the environment, or natural resources, or to the use, handling, storage, manufacturing, transportation, treatment, discharge, disposal or release of hazardous or toxic substances or wastes, pollutants or contaminants
(collectively, “Environmental Laws”) applicable to such entity, which compliance includes, without limitation, obtaining, maintaining and complying with all permits and authorizations and approvals required by Environmental Laws to
conduct their respective businesses, and (b) have not received written notice or otherwise have knowledge of any actual or alleged violation of Environmental Laws, or of any actual or alleged liability for or other obligation concerning the
presence, disposal or release of hazardous or toxic substances or wastes, pollutants or contaminants, except in the case of clause (a) or (b) where such non-compliance, violation, liability or other
obligation would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. Except as described in the Filed SEC Documents, (i) there are no proceedings that are pending, or to the Knowledge of the Company,
threatened, against the Company or any of its Subsidiaries under Environmental Laws in which a Governmental Authority is also a party, other than such proceedings which, individually or in the aggregate, would not reasonably be expected to have a
Material Adverse Effect, (ii) to the Knowledge of the Company, there are no pending or proposed Environmental 

  
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Laws or liabilities or other obligations under Environmental Laws, including those concerning hazardous or toxic substances or wastes, pollutants or contaminants, that could reasonably be
expected to have a material effect on the capital expenditures, earnings or competitive position of the Company and its Subsidiaries and (iii) none of the Company and its Subsidiaries is aware of any material capital expenditures that will be
required to comply with Environmental Laws in the next year. 
 SECTION 3.25. Foreign Corrupt Practices Act. Since the Applicable
Date, neither the Company nor any of its Subsidiaries, nor, to the Knowledge of the Company, any director, officer, agent, employee or other person acting on behalf of the Company or any of its Subsidiaries, has: (a) used any corporate funds
for any unlawful contribution, gift, entertainment or other unlawful expense relating to political activity; (b) made any direct or indirect unlawful payment to any foreign or domestic government official or employee from corporate funds;
(c) violated or is in violation of any provision of the U.S. Foreign Corrupt Practices Act of 1977, applicable legislation implementing the Organization for Economic Co-operation and Development
Convention on Bribery of Foreign Public Officials in International Business Transactions, and the rules and regulations thereunder or any other similar applicable foreign or domestic law or regulation; or (d) made any illegal bribe, payoff,
influence payment, kickback or other unlawful payment. The Company has instituted and maintains policies requiring continued compliance with the laws and regulations referenced in Section 3.25(c). 

SECTION 3.26. OFAC. Since the Applicable Date, neither the Company nor any of its Subsidiaries nor, to the Knowledge of the Company,
any director, officer, agent, employee or controlled Affiliate of the Company or any of its Subsidiaries is currently subject to any U.S. sanctions administered by the Office of Foreign Assets Control of the U.S. Treasury Department
(“OFAC”); and the Company will not directly or indirectly use the proceeds of the offering of the Issued Shares, or lend, contribute or otherwise make available such proceeds to any Subsidiary, joint venture partner or other Person,
for the purpose of financing the activities of any Person currently subject to any U.S. sanctions administered by OFAC. 
 SECTION 3.27.
Money Laundering Laws. Since the Applicable Date, the operations of the Company and its Subsidiaries are and have been conducted at all times in compliance with applicable money laundering laws of all jurisdictions to which the Company or its
subsidiaries are subject, the rules and regulations thereunder issued, administered or enforced by any Governmental Authority (collectively, the “Money Laundering Laws”) and no Action by or before any Governmental Authority
involving the Company or any of its Subsidiaries with respect to the Money Laundering Laws is pending or, to the Knowledge of the Company, threatened in writing. 

SECTION 3.28. Information Systems. The information technology systems, equipment and software used by the Company or any of its
Subsidiaries in their respective businesses (the “IT Assets”) (a) except as described in the Company SEC Documents, have not materially malfunctioned or failed since the Applicable Date, and (b) to the Knowledge of the Company,
are free of any viruses, “back doors,” “Trojan horses,” “time bombs,” “worms,” “drop dead devices” or other software or hardware 

  
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components that are designed to interrupt use of, permit unauthorized access to, or disable, damage or erase, any software material to the business of the Company or any of its Subsidiaries. The
Company and its Subsidiaries have implemented reasonable backup, security and disaster recovery processes and procedures. To the Knowledge of the Company, no Person has gained unauthorized access to any IT Asset since the Applicable Date in a manner
that has resulted or could reasonably be expected to result in material liability to the Company. 
 SECTION 3.29. Privacy. The
Company and its Subsidiaries in the past five years (a) have operated their respective businesses in a manner compliant in all material respects with all privacy, data security and data protection laws and regulations, including the California
Consumer Privacy Act of 2018 (California Civil Code §§ 1798.100 to 1798.199) and its implementing regulations, as amended or superseded from time to time, the Children’s Online Privacy Protection Act of 1998, 15 U.S.C. §§
6501–6506, and its implementing rules, the EU-U.S. and Swiss-U.S. Privacy Shield Frameworks (the “Privacy Shield Frameworks”), and the Health
Insurance Portability and Accountability Act of 1996, contractual obligations, applicable self-regulatory obligations, and applicable industry standards (including the PCI-DSS) (collectively, “Privacy
Requirements”) applicable to the Company’s and its Subsidiaries’ receipt, access, collection, handling, processing, sharing, transfer, usage, disclosure or storage of all Customer data, employee and contractor data, and all other
information, including without limitation personally identifiable information, financial data, IP addresses, mobile or security device identifiers and device usage activity, data contained in audio recordings, telephone calls or video images of
Customer sites (“Personal and Device Data”), including without limitation for the purposes of marketing or other Consumer communications and providing Customers with the requested goods and services such as monitoring Customer
sites, (b) have implemented, maintained and complied at all times in all material respects with policies and procedures reasonably designed to ensure the privacy, integrity, security and confidentiality of all Personal and Device Data handled,
processed, collected, shared, transferred, used, disclosed and/or stored by or for the Company or its Subsidiaries in connection with the Company’s and its Subsidiaries’ operation of their respective businesses, (c) have maintained
and complied in all material respects with policies and procedures reasonably designed to ensure the Privacy Requirements are complied with, (d) have obtained all necessary authority, to the extent required under the Privacy Requirements, to
receive, access, collect, use, transfer, store, handle, disclose or otherwise process the Personal and Device Data in its possession or under its control in connection with the operation of the Company’s or its Subsidiaries’ business,
(e) have designed and maintained processes and systems to allow the Company and its Subsidiaries to comply in all material respects with any requests made by Customers in accordance with the Privacy Requirements in a timely and comprehensive
manner and (f) have required all third parties to which they provide or have provided any Personal and Device Data to take reasonable and appropriate steps, and any other steps required for the Company and its Subsidiaries to comply in all
material respects with their contractual obligations and the Privacy Requirements, to maintain the privacy and security of such Personal and Device Data; provided, that the reference in the first sentence of this
Section 3.29 to “in the past five years” with respect to the Privacy Shield Frameworks shall be deemed to be a reference to “since October 16, 2019, the date of the

  
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Company’s initial certification under the Privacy Shield Frameworks”. The Company and its Subsidiaries have in the past five years had commercially reasonable physical, technical,
organizational and administrative security measures and policies in place to protect Personal and Device Data collected by it or on its behalf from and against any accidental or unlawful destruction, loss, alteration, unauthorized access to or
disclosure of, or other unauthorized use (“Security Incident”). To the Knowledge of the Company, neither the Company nor its Subsidiaries, nor any of their respective vendors or service providers have experienced any Security
Incident that has compromised, in any material respect, the privacy and/or security of any Personal and Device Data maintained or processed by or for the Company or any of its Subsidiaries in the last six years. The Company and its Subsidiaries have
not received any notice, claim or action with respect to an actual or alleged Security Incident or other misuse of any Personal and Device Data or with respect to any violation of the Privacy Requirements, and, to the Knowledge of the Company, there
is no reasonable basis for such notice, claim or action. To the Knowledge of the Company, there are no outstanding information, enforcement, action, de-registrations or transfer prohibition notices or any
other nature of notice or audit request under Privacy Requirements currently outstanding against the Company and its Subsidiaries, or any outstanding appeal against such notices, nor, to the Knowledge of the Company, are there any circumstances
which may give rise to the giving of any such notices. The Company and its Subsidiaries have not been the subject of any investigation or proceedings by a Governmental Authority in relation to its use of Personal and Device Data, nor has there been
any correspondence with a Governmental Authority on this topic. The Company and its Subsidiaries have not disclosed any Personal and Device Data to any Governmental Authorities except in conjunction with the provision of its goods and services, as
required by applicable Law, or pursuant to legal process. 
 SECTION 3.30. Consumer Protection. The Company and its Affiliates and,
to the Knowledge of the Company, each of its and its Affiliates’ subcontractors, vendors or other service providers, is in compliance with all Consumer Protection Laws with respect to marketing, monitoring, soliciting, selling, financing,
developing, constructing, leasing, installing, owning, operating and maintaining the goods and services subject to the Customer Agreements and the entering into, and performance of obligations under, the Customer Agreements, except where the failure
to be in compliance would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 
 SECTION 3.31.
No Other Company Representations or Warranties. Except for the representations and warranties made by the Company in this Article III, neither the Company, any of its Affiliates nor any other Person acting on its behalf makes any other
express or implied representation or warranty with respect to the Common Stock, the Company or any of its Subsidiaries or their respective businesses, operations, properties, assets, liabilities, condition (financial or otherwise) or prospects,
notwithstanding the delivery or disclosure to the Investor or any of its Representatives of any documentation, forecasts or other information with respect to any one or more of the foregoing, and the Investor acknowledges the foregoing. 

  
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 SECTION 3.32. No Other Investor Representations or Warranties. Except for the
representations and warranties expressly set forth in Article IV, the Company hereby acknowledges that neither the Investor, any of its Affiliates nor any other Person (a) has made or is making any other express or implied representation
or warranty with respect to the Investor or any of its Affiliates or their respective businesses, operations, assets, liabilities, condition (financial or otherwise) or prospects, including with respect to any information provided or made available
to the Company or any of its Representatives or any information developed by the Company or any of its Representatives or (b) except in the case of Fraud in connection with the representations and warranties expressly set forth in Article
IV, will have or be subject to any liability to the Company resulting from the delivery, dissemination or any other distribution to the Company or any of its Representatives, or the use by the Company or any of its Representatives, of any
information, documents, estimates, projections, forecasts or other forward-looking information, business plans or other material developed by or provided or made available to the Company or any of its Representatives, including in due diligence
materials, in anticipation or contemplation of any of the Transactions or any other transactions or potential transactions involving the Company and the Investor (including the transactions contemplated by the Transaction Documents). The Company, on
behalf of itself and on behalf of its respective Affiliates, expressly waives any such claim relating to the foregoing matters, except with respect to Fraud. 

ARTICLE IV 

REPRESENTATIONS AND WARRANTIES OF THE INVESTOR 

The Investor represents and warrants to the Company, as of the date hereof and as of the Closing Date (except to the extent made only as of a
specified date, in which case such representation and warranty is made as of such date), that: 
 SECTION 4.01. Organization;
Standing. The Investor is a stock insurance company duly organized, validly existing and in good standing under the Laws of the State of Illinois and has all requisite power and authority necessary to carry on its business as it is now being
conducted except (other than with respect to the Investor’s due organization and valid existence and good standing) as would not, individually or in the aggregate, reasonably be expected to have an Investor Material Adverse Effect. The Investor
is duly licensed or qualified to do business and is in good standing (where such concept is recognized under applicable Law) in each jurisdiction in which the nature of the business conducted by it or the character or location of the properties and
assets owned or leased by it makes such licensing or qualification necessary, except where the failure to be so licensed, qualified or in good standing would not, individually or in the aggregate, reasonably be expected to have an Investor Material
Adverse Effect. 

  
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 SECTION 4.02. Authority; Noncontravention. 

(a) The Investor has, and, as applicable, its Affiliates have, all necessary power and authority to execute and deliver this Agreement and the
other Transaction Documents, as applicable, and to perform its and their obligations hereunder and thereunder and to consummate the Transactions. The execution, delivery and performance by the Investor and its Affiliates, as applicable, of this
Agreement and the other Transaction Documents, and the consummation by the Investor and its Affiliates, as applicable, of the Transactions, have been duly authorized and approved by all necessary corporate or similar action on the part of the
Investor and its Affiliates, as applicable, and no further action, approval or authorization by any of their respective stockholders, partners, members or other equity owners, as the case may be, is necessary to authorize the execution, delivery and
performance by the Investor and its Affiliates, as applicable, of this Agreement and the other Transaction Documents and the consummation by the Investor and its Affiliates, as applicable, of the Transactions. This Agreement has been, and at the
Closing the other Transaction Documents to which the Investor and its Affiliates, as applicable, are party will be, duly executed and delivered by the Investor and its Affiliates, as applicable, and, assuming due authorization, execution and
delivery hereof or thereof, as applicable, by the Company and its Subsidiaries, as applicable, constitutes (or in the case of such other Transaction Documents, at the Closing will constitute) a legal, valid and binding obligation of the Investor and
its applicable Affiliates, enforceable against the Investor and its Affiliates, as applicable, in accordance with its terms, subject to the Bankruptcy and Equity Exception. 

(b) Neither the execution and delivery of this Agreement or the other Transaction Documents by the Investor or its Affiliates, as applicable,
nor the consummation by the Investor of the Transactions, nor performance or compliance by the Investor or its Affiliates, as applicable, with any of the terms or provisions hereof or thereof, will (i) conflict with or violate any provision of
the certificate or formation, operating agreement or other comparable charter or organizational documents of the Investor or its Affiliates, as applicable, or (ii) assuming that the authorizations, consents and approvals referred to in
Section 4.03 are obtained prior to the Closing Date and the filings referred to in Section 4.03 are made and any waiting periods with respect to such filings have terminated or expired prior to the
Closing Date, (x) violate any Law or Judgment applicable to the Investor, any of its Subsidiaries or any of the Investor’s Affiliates, as applicable, or (y) violate or constitute a default (or constitute an event which, with notice or
lapse of time or both, would violate or constitute a default) under any of the terms, conditions or provisions of any Contract to which the Investor, any of its Subsidiaries or any of the Investor’s Affiliates, as applicable, is a party or
accelerate the Investor’s or, if applicable, any of its Subsidiaries’ or Affiliates’, as applicable, obligations under any such Contract, except, in the case of clause (ii), as would not, individually or in the aggregate, reasonably
be expected to have an Investor Material Adverse Effect. 
 SECTION 4.03. Governmental Approvals. Except for filings required under,
and compliance with other applicable requirements of, the HSR Act and the Other Required Antitrust Laws, no consent or approval of, or filing, license, permit or authorization, declaration or registration with, any Governmental Authority that would
be required to be obtained or made by or on behalf of the Investor is necessary for the execution and delivery of this Agreement and the other Transaction Documents by the Investor, the performance by the Investor of its obligations hereunder and
thereunder and the consummation by the Investor of the Transactions, other than such other consents, approvals, filings, licenses, permits, authorizations, declarations or registrations that, if not obtained, made or given, would not, individually
or in the aggregate, reasonably be expected to have an Investor Material Adverse Effect. 

  
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 SECTION 4.04. Available Funds. The Investor currently has, and at the Closing will
have, available funds necessary to consummate the Purchase and pay the Aggregate Purchase Price, on the terms and conditions contemplated by this Agreement. 

SECTION 4.05. Ownership of Company Stock. Neither the Investor nor any of its Affiliates owns any capital stock of the Company. 

SECTION 4.06. Brokers and Other Advisors. Other than Morgan Stanley & Co. LLC, no broker, investment banker, financial advisor
or other Person is entitled to any broker’s, finder’s, financial advisor’s or other similar fee or commission, or the reimbursement of expenses in connection therewith, in connection with the Transactions based upon arrangements made
by or on behalf of the Investor or any of its Subsidiaries, except for Persons, if any, whose fees and expenses will be paid by the Investor. 

SECTION 4.07. Information Supplied. None of the information supplied or to be supplied by or on behalf of the Investor for inclusion or
incorporation by reference in the Offer Documents (including any amendments or supplements thereto) will, at the time the Offer Documents (or any amendment or supplement thereto) are filed with the SEC or at the time the Offer Documents (or any
amendment or supplement thereto) are first published, sent or given to the holders of Common Stock and Class B Common Stock, contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or
necessary to make the statements therein, in light of the circumstances under which they are made, not false or misleading. Notwithstanding the foregoing, the Investor makes no representation or warranty with respect to any statement made in the
Offer Documents supplied by or on behalf of the Company which is contained or incorporated by reference in the Offer Documents. 
 SECTION
4.08. Non-Reliance on Company Estimates, Projections, Forecasts, Forward-Looking Statements and Business Plans. In connection with the due diligence investigation of the Company by the Investor and its
Representatives, the Investor and its Representatives have received and may continue to receive from the Company and its Representatives certain estimates, projections, forecasts and other forward-looking information, as well as certain business
plan information, regarding the Company and its Subsidiaries and their respective businesses and operations. The Investor hereby acknowledges that there are uncertainties inherent in attempting to make such estimates, projections, forecasts and
other forward-looking statements, as well as in such business plans, with which the Investor is familiar, that the Investor is making its own evaluation of the adequacy and accuracy of all estimates, projections, forecasts and other forward-looking
information, as well as such business plans, so furnished to the Investor (including the reasonableness of the assumptions underlying such estimates, projections, forecasts, forward-looking information or business plans), and that except for the
representations and warranties made by the Company in Article III of this Agreement, the Investor will have no claim against the Company or any of its Subsidiaries, or any of their respective Representatives, with respect thereto, except with
respect to Fraud. 

  
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 SECTION 4.09. Private Placement Matters. The Investor acknowledges that the offer and
sale of the Issued Shares have not been registered under the Securities Act or under any state or other applicable securities Laws. The Investor (a) acknowledges that it is acquiring the Issued Shares pursuant to an exemption from registration
under the Securities Act solely for investment with no intention to distribute any of the foregoing to any Person, (b) will not sell, transfer, or otherwise dispose of any of the Issued Shares, except in compliance with the Transaction
Documents and the registration requirements or exemption provisions of the Securities Act and any other applicable securities Laws, (c) has such knowledge and experience in financial and business matters and in investments of this type that it
is capable of evaluating the merits and risks of its investment in the Issued Shares and of making an informed investment decision, (d) is an “accredited investor” (as that term is defined by Rule 501 of the Securities Act), (e) is a
“qualified institutional buyer” (as that term is defined in Rule 144A of the Securities Act) and (f) (i) has been furnished with or has had access to all the information that it considers necessary or appropriate to make an informed
investment decision with respect to the Issued Shares, (ii) has had an opportunity to discuss with the Company and its Representatives the intended business and financial affairs of the Company and to obtain information necessary to verify any
information furnished to it or to which it had access and (iii) can bear the economic risk of (A) an investment in the Issued Shares indefinitely and (B) a total loss in respect of such investment. The Investor has such knowledge and
experience in business and financial matters so as to enable it to understand and evaluate the risks of, and form an investment decision with respect to its investment in, the Issued Shares and to protect its own interest in connection with such
investment. 
 SECTION 4.10. No Other Company Representations or Warranties. Except for the representations and warranties expressly
set forth in Article III, the Investor hereby acknowledges that neither the Company nor any of its Subsidiaries or Affiliates, nor any other Person, (a) has made or is making any other express or implied representation or warranty with
respect to the Company or any of its Subsidiaries or their respective businesses, operations, assets, liabilities, condition (financial or otherwise) or prospects, including with respect to any information provided or made available to the Investor
or any of its Representatives or any information developed by the Investor or any of its Representatives or (b) except in the case of Fraud in connection with the representations and warranties expressly set forth in Article III will
have or be subject to any liability to the Investor resulting from the delivery, dissemination or any other distribution to the Investor or any of its Representatives, or the use by the Investor or any of its Representatives, of any information,
documents, estimates, projections, forecasts or other forward-looking information, business plans or other material developed by or provided or made available to the Investor or any of its Representatives, including in due diligence materials,
“data rooms” or management presentations (formal or informal), in anticipation or contemplation of any of the Transactions or any other transactions or potential transactions involving the Company and the Investor (including the
transactions contemplated by the Transaction Documents). The Investor, on behalf of itself and on 

  
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behalf of its Affiliates, expressly waives any such claim relating to the foregoing matters, except with respect to Fraud. The Investor hereby acknowledges (for itself and on behalf of its
Affiliates and Representatives) that it has conducted, to its satisfaction, its own independent investigation of the business, operations, assets and financial condition of the Company and its Subsidiaries and, in making its determination to proceed
with the Transactions and the transactions contemplated by the Transaction Documents, the Investor and its Affiliates and Representatives have relied on the results of their own independent investigation. 

SECTION 4.11. No Other Investor Representations or Warranties. Except for the representations and warranties expressly set forth in
this Article IV, neither the Investor nor any other Person on its behalf has made or is making any other express or implied representation or warranty. 

ARTICLE V 
 ADDITIONAL
AGREEMENTS 
 SECTION 5.01. Negative Covenants. Except as required by applicable Law, Judgment or, solely with respect to clause
(x) herein, to comply with any notice, directive, guideline or recommendation from a Governmental Authority (including those in connection with or in response to COVID-19), as expressly required or
permitted by this Agreement or as described in Section 5.01 of the Company Disclosure Letter, during the period from the date of this Agreement until the Closing Date (or such earlier date on which this Agreement may be
terminated pursuant to Section 6.01), unless the Investor otherwise consents in writing (such consent not to be unreasonably withheld, delayed or conditioned), (x) the Company shall, and shall cause its Subsidiaries to, use
their reasonable best efforts to operate their businesses in all material respects in the ordinary course of business and (y) the Company shall not, and shall not permit any of its Subsidiaries to: 

(a) other than the authorization and issuance of the Issued Shares to the Investor and the consummation of the other
Transactions, issue, sell or grant any shares of its capital stock or other equity or voting interests, or any securities or rights convertible into, exchangeable or exercisable for, or evidencing the right to subscribe for any shares of its capital
stock or other equity or voting interests, or any rights, warrants or options to purchase any shares of its capital stock or other equity or voting interests; provided that the Company may issue or grant shares of Common Stock or other
securities in the ordinary course of business (i) under Company Stock Plans in effect on the date of this Agreement, (ii) pursuant to equity awards or obligations outstanding on the date of this Agreement or granted after the date of this
Agreement in accordance with clause (i) and not otherwise in violation of this Agreement, (iii) in connection with the acquisition (including by merger, consolidation, or acquisition of stock or assets or otherwise) of any Person or any
division or assets thereof in an amount not to exceed $50,000,000 in the aggregate or (iv) as required under the Company Organizational Documents upon the conversion of shares of Class B Common Stock; 

  
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 (b) redeem, purchase or otherwise acquire any of its outstanding shares of
capital stock or other equity or voting interests, or any rights, warrants or options to acquire any shares of its capital stock or other equity or voting interests, except pursuant to (i) the cashless exercise of Company Options or the
forfeiture or withholding of Taxes with respect to (A) the exercise of Company Options and the vesting and/or settlement of Company Restricted Shares and Company RSUs and Company PSUs or (B) other equity awards granted after the date of
this Agreement under Company Stock Plans in effect on the date of this Agreement and not otherwise in violation of this Agreement or (ii) any share repurchase program that was approved by the Company Board prior to the date of this Agreement
(other than as would result in any approval or consent of any stockholders of the Company being required under applicable Law or stock exchange rules with respect to the sale, issuance or delivery of the Issued Shares hereunder); 

(c) establish a record date for, declare, set aside for payment or pay any dividend on, or make any other distribution in
respect of, any shares of its capital stock or other equity or voting interests, except for (i) any dividend or distribution by a wholly owned subsidiary of the Company to the Company or any wholly owned subsidiary of the Company and
(ii) regular quarterly dividends in an amount not to exceed $0.035 per share of Common Stock in any fiscal quarter consistent with the Company’s past practice; 

(d) split, combine, subdivide or reclassify any shares of its capital stock or other equity or voting interests; 

(e) amend the Company Organizational Documents; 

(f) liquidate, dissolve, merge, consolidate, restructure, recapitalize or reorganize the Company or its Significant
Subsidiaries; 
 (g) assume, guarantee, or issue new indebtedness or make loans, advances or capital contributions in excess
of $100,000,000 in the aggregate, other than (i) borrowings under the Existing Credit Facility, (ii) intercompany loans, advances or capital contributions between the Company and any of its Subsidiaries or between any Subsidiaries of the
Company, (iii) indebtedness or guarantees thereof incurred in the ordinary course of business or consistent with past practice and (iv) indebtedness or guarantees thereof incurred by the Company or its Subsidiaries the net proceeds of
which are applied (whether on or after the date on which the indebtedness is incurred) to repurchase, redeem, repay or refinance (including by way of an exchange offer, tender offer or other liability management transaction) indebtedness of the
Company or its Subsidiaries existing on the date hereof; 

  
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 (h) settle, waive, or forgive any amount that exceeds $50,000,000 that is
owed to the Company or any of its Subsidiaries not in the ordinary course of business; 
 (i) change accounting policies
except as required by GAAP; 
 (j) make any change in Tax accounting, make new Tax elections or amend a Tax Return, in each
case, except as would not, individually or in the aggregate, reasonably be expected to be materially adverse to the Company and the Subsidiaries, taken as a whole; or 

(k) agree or commit to do any of the foregoing. 

SECTION 5.02. Further Action; Reasonable Best Efforts; Filings. During the period from the date of this Agreement until the Closing
Date (or such earlier date on which this Agreement is terminated pursuant to Section 6.01): 
 (a) Subject to the
terms and conditions of this Agreement, each party shall use its reasonable best efforts to take, or cause to be taken, all actions and to do, or cause to be done, and to assist and cooperate with the other parties in doing, all things necessary,
proper or advisable under applicable Law to consummate and make effective the Transactions as promptly as practicable, including (i) the obtaining of all necessary actions, waivers, registrations, permits, authorizations, orders, consents and
approvals from Governmental Authorities, the expiry or early termination of any applicable waiting periods, and the making of all necessary registrations and filings (including filings with Governmental Authorities, if any) and the taking of all
steps as may be reasonably necessary to obtain an approval or waiver from, or to avoid an Action by, any Governmental Authorities, (ii) the delivery of required notices to, and the obtaining of required consents or waivers from, any third
parties necessary, proper or advisable to consummate the Transactions and (iii) the execution and delivery of any additional instruments necessary to consummate the Transactions and to fully carry out the purposes of the Transaction Documents.

 (b) Subject to applicable Law and the terms and conditions of this Agreement, the parties and their respective counsel shall
(i) cooperate in all respects with each other in connection with any filing or submission with any Governmental Authority in connection with the Transactions and in connection with any investigation or other inquiry by or before any
Governmental Authority relating to the Transactions, including any Action initiated by a private Person, (ii) have the right to review in advance, and to the extent practicable each shall consult the other on, any material filing made with, or
written materials to be submitted to, any Governmental Authority in connection with the Transactions and of any material communication received or given in connection with any Action by a private Person, in each case regarding any of the
Transactions, (iii) promptly inform each other of any material communication (or any other material correspondence or memoranda) received from, or given to, any applicable Governmental Authority and (iv) promptly furnish each other with
copies of all correspondence, filings and written communications between them or their Subsidiaries or Affiliates, on the one hand, and any Governmental Authority or its respective staff, on the other hand, with

  
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respect to the Transactions. In furtherance of the foregoing, the parties hereto shall (with respect to any in-person discussion or meeting), and shall to
the extent practicable (with respect to any telephonic discussion or meeting), provide the other party and their respective counsel with advance notice of and the opportunity to participate in any material discussion or meeting with any Governmental
Authority in respect of any filing, investigation or other inquiry in connection with the Transactions; provided that each of the parties hereto shall have the right to review in advance, and to the extent practicable each will consult the
other on, all the information relating to the other parties and their respective Affiliates, as the case may be, that appears in any filing made with, or written materials (including correspondence) submitted to, any third party and/or any
Governmental Authority in connection with any governmental inquiry, investigation or Action with respect to the Transactions. Notwithstanding anything to the contrary in this Section 5.02, materials provided to the other
parties or their respective counsel may be redacted as necessary to address reasonable attorney-client or other privilege or confidentiality concerns. Investor, on the one hand, and the Company, on the other hand, shall each pay or cause to be paid
fifty percent (50%) of all filing fees and similar payment required in connection with any notices to and filings with, and approvals of, Governmental Authorities with respect to the Transactions. 

(c) Without limiting the generality of Section 5.02(a) and Section 5.02(b), the parties
hereto shall (i) make an appropriate filing of a Notification and Report Form pursuant to the HSR Act and any other applicable Antitrust Law with respect to the Transactions as promptly as reasonably practicable following the date of this
Agreement (but in any event within 10 Business Days following the date of this Agreement), (ii) supply as promptly as reasonably practicable any additional information and documentary material that may be requested pursuant to the HSR Act or
any other applicable Antitrust Law and (iii) subject to Section 5.02(d), take or cause to be taken all other actions necessary to cause the expiration or termination of the applicable waiting periods under the HSR
Act and any other applicable Antitrust Laws and to obtain all consents under any Antitrust Laws that are required by any Governmental Authority with competent jurisdiction, so as to enable the parties hereto to consummate the Transactions. 

(d) Investor shall have the sole right to determine and direct the strategy and process by which the parties will seek any required approvals
under the HSR Act and any other applicable Antitrust Law; provided that it will give good faith consideration to any reasonable input from the Company with respect to any of the foregoing. Notwithstanding anything herein to the contrary,
nothing in this Agreement shall require Investor or any of its Subsidiaries or Affiliates to, and, except with the prior written consent of Investor, the Company and its Affiliates shall not (i) take any action to, consent or proffer to divest,
hold separate, or enter into any license or similar Contract with respect to, or agree to restrict or change the ownership or operation of, any business or assets of the Company, Investor, or any of their respective Subsidiaries or Affiliates, or
(ii) amend or otherwise modify, or agree to amend or otherwise modify, the Development Agreement (or the form thereof set forth as Annex I hereto) or the transactions contemplated thereby, in each case, with the intent of obtaining
approvals under any applicable Law or from any third party with respect to the Transactions. Notwithstanding anything to the contrary herein, in no event shall the Investor or any of its Subsidiaries or Affiliates be obligated to litigate, appeal,
or participate in the litigation or appeal of any Action, in each case, with the intent of obtaining approvals under any applicable Law with respect to the Transactions. 

  
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 SECTION 5.03. Public Disclosure. The Investor and the Company shall, and shall cause
their Affiliates to, consult with each other before issuing, and give each other the opportunity to review and comment upon, any press release or other public statements with respect to the Transaction Documents, the Transactions, and shall not
issue any such press release or make any such public statement prior to such consultation, except as may be required by applicable Law, Judgment, court process or the rules and regulations of any national securities exchange or national securities
quotation system. Notwithstanding the forgoing, this Section 5.03 shall not apply to any press release or other public statement made by the Company or the Investor (or any of their respective Affiliates) which does not
contain any information relating to the Transactions that has not been previously announced or made public in accordance with the terms of this Agreement. 

SECTION 5.04. Confidentiality. 

(a) The terms of the Confidentiality Agreement are hereby incorporated by reference. If this Agreement is, for any reason, terminated prior to
Closing, the Confidentiality Agreement shall continue in full force and effect. Effective upon the Closing, the Confidentiality Agreement shall terminate. 

(b) From and after the Closing, the Investor will, and will cause its Affiliates and its and their respective Representatives to, keep
confidential any information (including oral, written and electronic information) concerning the Company, its Subsidiaries or its Affiliates that may be furnished to the Investor, its Affiliates or their respective Representatives by or on behalf of
the Company or any of its Representatives pursuant to (a) this Agreement or (b) the Nondisclosure Agreement, dated May 16, 2022, by and between the Company and State Farm Mutual Automobile Insurance Company (the
“Confidentiality Agreement”) (the information referred to in clauses (a) and (b) collectively referred to as the “Confidential Information”) and to use the Confidential Information solely in connection with the
Transaction Documents, the Transactions or the Investor’s investment in the Company; provided that the Confidential Information shall not include information that (i) was or becomes generally available to the public other than as a
result of a disclosure by the Investor, any of its Affiliates or any of their respective Representatives in violation of this Section 5.04, (ii) becomes available to the Investor, any of its Affiliates or any of their
respective Representatives on a non-confidential basis from a source other than the Company or its Representatives; provided that such source is reasonably believed by the Investor not to be subject to
an obligation of confidentiality (whether by agreement or otherwise) to the Company or its Affiliates with respect to such information, (iii) is, at the time of disclosure to the Investor by or on behalf of the Company or its Representatives,
already in the possession of the Investor; provided that such information is reasonably believed by the Investor not to be subject to an obligation of confidentiality (whether by agreement or otherwise) to the Company or any of its
Affiliates, or (iv) was or is independently developed by or on behalf of the 

  
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Investor without reference to, incorporation of, or other use of any Confidential Information. The Investor agrees, on behalf of itself and its Affiliates and its and their respective
Representatives, that Confidential Information may be disclosed solely (A) to the Investor’s Affiliates and its and their respective Representatives on a
need-to-know basis or (B) in the event that the Investor, any of its Affiliates or any of its or their respective Representatives are required by applicable Law,
Judgment, stock exchange rule or other applicable judicial or governmental process (including by deposition, interrogatory, request for documents, subpoena, civil investigative demand or similar process) to disclose any Confidential Information, in
each of which instances described in this clause (B) the Investor, its Affiliates and its and their respective Representatives, as the case may be, shall use reasonable efforts to provide notice to the Company sufficiently in advance of any
such disclosure so that the Company will have a reasonable opportunity to timely seek to limit, condition or quash such disclosure. 

SECTION 5.05. NYSE Listing of Common Stock. Prior to the Closing, but as promptly as practicable following the date of this Agreement,
the Company shall cause the Issued Shares to be approved for listing on the NYSE, subject to official notice of issuance. The Company shall use its reasonable best efforts to maintain the listing of shares of Common Stock on the NYSE. 

SECTION 5.06. Tax Matters. 

(a) Each party and any applicable withholding agent shall be entitled to deduct and withhold from any amounts payable pursuant to this
Agreement to the extent required by applicable Law. The parties shall reasonably cooperate to obtain any affidavits, certificates and other documents as may reasonably be expected to afford reduction of or relief from such deduction or withholding.
Any amounts that are deducted or withheld shall be timely paid over to the appropriate tax authority and shall be treated for all purposes of this Agreement as having been paid to the Person in respect of which such deduction and withholding was
made. 
 (b) The Company shall pay any and all documentary, stamp and similar issuance or transfer Tax due in connection with this Agreement.

 SECTION 5.07. Furnishing of Information. The Company shall timely file (or obtain extensions in respect thereof and file within
the applicable grace period) all reports required to be filed by the Company after the date hereof pursuant to the Exchange Act (after giving effect to any grace period provided by Rule 12b-25 under the
Exchange Act or any successor rule under the Exchange Act or any special order of the SEC). If the Company is not required to file reports pursuant to the Exchange Act, it will prepare and furnish to the Investor and make publicly available in
accordance with Rule 144(c) such information as is required for the Investor to sell the Issued Shares under Rule 144. 
 SECTION 5.08.
Delivery of Issued Shares After Closing. The Company shall deliver, or cause to be delivered, a book-entry statement evidencing the Issued Shares within one (1) Business Day after the Closing Date. 

  
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 SECTION 5.09. Self-Tender Offer; Use of Proceeds; Support Agreements. 

(a) Following the date hereof, the Company shall commence the Offer as promptly as practicable (and in any event within five Business Days
after the date hereof) by means of an offer to purchase (the “Offer to Purchase”), consistent with the terms and conditions set forth on Exhibit A hereto (such terms and conditions, the “Offer Conditions”).

 (b) On the commencement date of the Offer (which shall be within five Business Days after the date hereof), the Company shall
(i) file with the SEC a Tender Offer Statement on Schedule TO with respect to the Offer (together with all exhibits, amendments and supplements thereto, the “Schedule TO”) that will contain or incorporate by reference the Offer
to Purchase, a form of the related letter of transmittal, a summary advertisement, if any, and other ancillary Offer documents pursuant to which the Offer will be made (the Schedule TO, together with all documents included therein pursuant to which
the Offer will be made, the “Offer Documents”) and (ii) cause the Offer Documents to be disseminated to the holders of Common Stock and Class B Common Stock as, and to the extent, required by applicable Law. Prior to the
filing of the Offer Documents (or any amendment or supplement thereto) or the dissemination thereof to the shareholders of the Company, or responding to any comments of the SEC (or the staff of the SEC) with respect thereto, the Company shall
provide the Investor a reasonable opportunity to review and to propose comments on such Offer Documents or response, in each case, to the extent related to the Investor, the Transactions or the Transaction Documents, and the Company shall give
reasonable and good faith consideration to any comments provided by the Investor. Notwithstanding the foregoing, the Investor shall have no responsibility with respect to any information supplied by the Company for inclusion or incorporation by
reference in the Offer Documents to the extent permitted by applicable Law. The Company shall promptly notify the Investor upon the receipt of any comments from the SEC (or the staff of the SEC) or any request from the SEC (or the staff of the SEC)
for amendments or supplements to the Offer Documents, in each case, to the extent related to the Investor, the Transactions or the Transaction Documents, and shall provide the Investor with copies of all correspondence between the Company and its
Representatives, on the one hand, and the SEC (or the staff of the SEC), on the other hand (and shall orally describe any oral comments), in each case, to the extent related to the Investor, the Transactions or the Transaction Documents. 

(c) Subject to applicable Law and the satisfaction of the Offer Conditions, the Company shall consummate the Offer. The Company shall use the
proceeds from the issuance and sale of the Issued Shares hereunder to finance the Offer or, solely in the event that the Offer is not consummated, for general corporate purposes. 

(d) The Investor shall reasonably cooperate with the Company in furnishing or otherwise making available to the Company any information
concerning the Investor and its Affiliates reasonably necessary to be included in the Offer Documents. 

  
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 (e) The Company shall (i) maintain in effect each of the Support Agreements and
(ii) comply with and enforce, as applicable, its covenants, agreements, rights and obligations set forth in the Support Agreements (including, for the avoidance of doubt, its right to enforce any covenants, agreements or other obligations of
any counterparty to the Support Agreements). The Company shall not (A) assign or delegate any of its rights or obligations under the Support Agreements, (B) amend, amend and restate, restate, supplement or otherwise modify any of the terms
or conditions of the Support Agreements, (C) waive any of the covenants, agreements, obligations, representations or warranties of any counterparty to the Support Agreements or (D) agree to terminate any Support Agreement, in each case,
without the prior written consent of the Investor. 
 SECTION 5.10. Further Assurances. From time to time following the Closing, the
Investor and the Company shall, and shall cause their respective Affiliates to, execute, acknowledge and deliver all such further conveyances, and such other instruments, and shall take such further actions, as may be reasonably necessary or
appropriate to otherwise make effective the transactions contemplated hereby. 
 SECTION 5.11. Section 16 Matters. If there is any
event or circumstance that may result in the Investor, its Affiliates or an Investor Designee (as defined in the Investor Rights Agreement) being deemed to have made a disposition or acquisition of equity securities of the Company or derivatives
thereof for purposes of Section 16 of the Exchange Act: (a) the Board will pre-approve such acquisition or disposition of equity securities of the Company or derivatives thereof for the express
purpose of exempting the Investor, its Affiliates’ and the Investor Designee’s interests in such transaction from Section 16(b) of the Exchange Act pursuant to Rule 16b-3 thereunder and
(b) if the transaction involves (i) a merger or consolidation to which the Company is a party and the Common Stock is, in whole or in part, converted into or exchanged for equity securities of a different issuer, (ii) a potential
acquisition or deemed acquisition, or disposition or deemed disposition, by the Investor, its Affiliates, and/or the Investor Designee of equity securities of such other issuer or derivatives thereof or (iii) an Affiliate or other designee of
the Investor or its Affiliates will serve on the board of directors (or its equivalent) of such other issuer pursuant to the terms of an agreement to which the Company is a party (or if the Investor notifies the Company of such service a reasonable
time in advance of the closing of such transactions), then if the Company requires that the other issuer pre-approve any acquisition of equity securities or derivatives thereof for the express purpose of
exempting the interests of any director or officer of the Company or any of its subsidiaries in such transactions from Section 16(b) of the Exchange Act pursuant to Rule 16b-3 thereunder, the Company
shall require that such other issuer pre-approve any such acquisitions of equity securities or derivatives thereof for the express purpose of exempting the interests of each of the Investor, its Affiliates and
the Investor Designee in such transactions from Section 16(b) of the Exchange Act pursuant to Rule 16b-3 thereunder. 

  
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 ARTICLE VI 

CONDITIONS TO CLOSING 

SECTION 6.01. Conditions to the Obligations of the Company and the Investor. The respective obligations of each of the Company and the
Investor to effect the Closing shall be subject to the satisfaction (or waiver, if permissible under applicable Law) on or prior to the Closing Date of the following conditions: 

(a) the waiting period (and any extension thereof) applicable to the consummation of the Transactions (as applicable) under the
HSR Act shall have expired or early termination thereof shall have been granted and, if applicable, any waiting periods under Other Required Antitrust Laws shall have been granted and any approvals required under Other Required Antitrust Laws shall
have been received; and 
 (b) no Judgment enacted, promulgated, issued, entered, amended or enforced by any Governmental
Authority or any applicable Law (collectively, “Restraints”) shall be in effect enjoining or otherwise prohibiting the consummation of any of the Transactions, and no Action by any Governmental Authority shall be pending or
threatened which would enjoin or otherwise prohibit consummation of any of the Transactions. 
 SECTION 6.02. Conditions to the
Obligations of the Company. The obligations of the Company to effect the Closing shall be further subject to the satisfaction (or waiver, if permissible under applicable Law) on or prior to the Closing Date of the following conditions: 

(a) the representations and warranties of the Investor set forth in this Agreement shall be true and correct as of the date of
this Agreement and as of the Closing Date with the same effect as though made on and as of such date (except to the extent expressly made as of an earlier date, in which case as of such earlier date), except where the failure to be true and correct
would not, individually or in the aggregate, reasonably be expected to have an Investor Material Adverse Effect; 
 (b) the
Investor shall have complied with or performed in all material respects its obligations and covenants required to be complied with or performed by it pursuant to this Agreement at or prior to the Closing; 

(c) the Company shall have received a certificate, signed on behalf of the Investor by an executive officer thereof, certifying
that the conditions set forth in Section 6.02(a) and Section 6.02(b) have been satisfied; and 

(d) the Investor shall have executed and delivered to the Company (i) the Investor Rights Agreement and (ii) the
Development Agreement. 

  
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 SECTION 6.03. Conditions to the Obligations of the Investor. The obligations of the
Investor to effect the Closing shall be further subject to the satisfaction (or waiver, if permissible under applicable Law) on or prior to the Closing Date of the following conditions: 

(a) the representations and warranties of the Company (i) set forth in Sections 3.01(a), 3.02,
3.03(a), 3.12, 3.13, 3.14, 3.15 and 3.19 (the “Company Fundamental Representations”) shall be true and correct (disregarding all qualifications or limitations as to “materiality,”
“Material Adverse Effect” and words of similar import) in all material respects as of the date hereof and as of the Closing Date with the same effect as though made on and as of such date (except to the extent expressly made as of an
earlier date, in which case as of such earlier date), (ii) set forth in Section 3.07(b) shall be true and correct as of the date hereof and as of the Closing Date with the same effect as though made on and as of such date,
and (iii) set forth in this Agreement, other than the Company Fundamental Representations and those set forth in Section 3.07(b), shall be true and correct (disregarding all qualifications or limitations as to
“materiality”, “Material Adverse Effect” and words of similar import set forth therein) as of the date hereof and as of the Closing Date with the same effect as though made on and as of such date (except to the extent expressly
made as of an earlier date, in which case as of such earlier date), except, in the case of this clause (iii), where the failure to be true and correct has not had and would not, individually or in the aggregate, reasonably be expected to have a
Material Adverse Effect; 
 (b) the Company shall have complied with or performed in all material respects its obligations
and covenants required to be complied with or performed by it pursuant to this Agreement at or prior to the Closing; 
 (c)
the Investor shall have received a certificate, signed on behalf of the Company by an executive officer thereof, certifying that the conditions set forth in Sections 6.03(a), 6.03(b) and 6.03(d) have been satisfied; 

(d) no stop order or suspension of trading shall have been imposed by the NYSE, the SEC or any other Governmental Authority
with respect to public trading in the Common Stock; 
 (e) the Issued Shares shall have been approved for listing on the
NYSE, subject only to official notice of issuance; 
 (f) no Material Adverse Effect shall have occurred; and 

(g) the Company shall have executed and delivered to the Investor (i) the Investor Rights Agreement and (ii) the
Development Agreement. 

  
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 ARTICLE VII 

TERMINATION 
 SECTION
7.01. Termination. This Agreement may be terminated and the Transactions abandoned at any time prior to the Closing: 

(a) by the mutual written consent of the Company and the Investor; 

(b) by either the Company or the Investor, upon written notice to the other, if the Closing has not occurred on or prior to
December 31, 2022 (the “Termination Date”); provided that the right to terminate this Agreement under this Section 7.01(b) shall not be available to any party if the breach by such party of its
representations and warranties set forth in this Agreement or the failure of such party to perform any of its obligations under this Agreement has been a principal cause of or resulted in the events specified in this
Section 7.01(b); 
 (c) by either the Company or the Investor, if any Restraint enjoining or
otherwise prohibiting consummation of the Transactions shall be in effect and shall have become final and nonappealable; provided that the party seeking to terminate this Agreement pursuant to this Section 7.01(c)
shall have used the required efforts to cause the conditions to Closing to be satisfied in accordance with Section 5.02; 

(d) by the Investor, if the Company shall have breached any of its representations or warranties or failed to perform any of
its covenants or agreements set forth in this Agreement, which breach or failure to perform (i) would give rise to the failure of a condition set forth in Section 6.03(a) or Section 6.03(b)
and (ii) is incapable of being cured prior to the Termination Date, or if capable of being cured, shall not have been cured within 30 calendar days (but in no event later than the Termination Date) following receipt by the Company of written
notice of such breach or failure to perform from the Investor stating the Investor’s intention to terminate this Agreement pursuant to this Section 7.01(d) and the basis for such termination; provided that the
Investor shall not have the right to terminate this Agreement pursuant to this Section 7.01(d) if the Investor is then in material breach of any of its representations, warranties, covenants or agreements hereunder, which
breach would give rise to the failure of any condition set forth in Section 6.02(a) or Section 6.02(b) to be satisfied; or 

(e) by the Company, if the Investor shall have breached any of its representations or warranties or failed to perform any of
its covenants or agreements set forth in this Agreement, which breach or failure to perform (i) would give rise to the failure of a condition set forth in Section 6.02(a) or Section 6.02(b)
and (ii) is incapable of being cured prior to the Termination Date, or if capable of being cured, shall not have been cured within 30 calendar days (but in no event later than the Termination Date) following receipt by the Investor of written
notice of such breach or failure to perform from the Company stating the 

  
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Company’s intention to terminate this Agreement pursuant to this Section 7.01(e) and the basis for such termination; provided that the Company shall not have
the right to terminate this Agreement pursuant to this Section 7.01(e) if the Company is then in material breach of any of its representations, warranties, covenants or agreements hereunder, which breach would give rise to
the failure of any condition set forth in Section 6.03(a) or Section 6.03(b) to be satisfied. 

SECTION 7.02. Effect of Termination. In the event of the termination of this Agreement as provided in
Section 7.01, written notice thereof shall be given to the other party, specifying the provision hereof pursuant to which such termination is made, and this Agreement shall forthwith become null and void (other than
Article I, Section 5.03, Section 5.04, this Section 7.02 and Article VIII, all of which shall survive termination of this Agreement), and there shall be no
liability on the part of the Investor or the Company or their respective directors, officers and Affiliates, except that no such termination shall relieve any party from liability for damages to another party resulting from a willful and material
breach of this Agreement or from Fraud. 
 SECTION 7.03. Survival. All of the covenants or other agreements of the parties contained
in this Agreement shall survive until fully performed or fulfilled, unless and to the extent that non-compliance with such covenants or agreements is waived in writing by the party entitled to such
performance. Except for the Company Fundamental Representations and the representations and warranties of the Company contained in Sections 3.29, 3.30 and 3.31, which shall survive until the date that is the three year
anniversary of the Closing Date, the representations and warranties in this Agreement shall survive for two years following the Closing Date and shall then expire; provided that nothing herein shall relieve any party of liability for any
inaccuracy or breach of such representation or warranty to the extent that any good faith allegation of such inaccuracy or breach is made in writing prior to such expiration by a Person entitled to make such claim pursuant to the terms and
conditions of this Agreement. For the avoidance of doubt, claims may be made with respect to the breach of any representation, warranty or covenant until the applicable survival period therefor as described above expires. Notwithstanding any other
provision set forth in this Agreement, except in the case of Fraud, the maximum liability of the Company under or relating to this Agreement to the extent relating to or arising out of any breach of the representations and warranties expressly set
forth in this Agreement shall in no event exceed the Aggregate Purchase Price; provided that, with respect to breaches of representations and warranties of the Company that are not Company Fundamental Representations, the Company shall only
have any liability to the extent the aggregate amount of such liabilities exceeds an amount equal to one percent of the Aggregate Purchase Price. 

ARTICLE VIII 

MISCELLANEOUS 
 SECTION
8.01. Amendments; Waivers. Subject to compliance with applicable Law, this Agreement may be amended or supplemented in any and all respects by written agreement of the parties hereto. 

  
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 SECTION 8.02. Extension of Time, Waiver, Etc. The Company and the Investor may,
subject to applicable Law, (a) waive any inaccuracies in the representations and warranties of the other party contained herein or in any document delivered pursuant hereto, (b) extend the time for the performance of any of the obligations
or acts of the other party or (c) waive compliance by the other party with any of the agreements contained herein applicable to such party or, except as otherwise provided herein, waive any of such party’s conditions. Notwithstanding the
foregoing, no failure or delay by the Company or the Investor in exercising any right hereunder shall operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any
other right hereunder. Any agreement on the part of a party hereto to any such extension or waiver shall be valid only if set forth in an instrument in writing signed on behalf of such party. 

SECTION 8.03. Assignment. Neither this Agreement nor any of the rights, interests or obligations hereunder shall be assigned, in whole
or in part, by operation of Law or otherwise, by any of the parties hereto without the prior written consent of the other party hereto. 

SECTION 8.04. Counterparts. This Agreement and any other Transaction Documents may be executed in one or more counterparts (including
by electronic mail), each of which shall be deemed to be an original but all of which taken together shall constitute one and the same agreement, and shall become effective when one or more counterparts have been signed by each of the parties hereto
(including by electronic signature) and delivered to the other parties hereto (including electronically, e.g., in PDF format). 

SECTION 8.05. Entire Agreement; No Third-Party Beneficiaries. This Agreement, including the Company Disclosure Letter, together with
the other Transaction Documents and the Confidentiality Agreement, constitutes the entire agreement, and supersedes all other prior agreements and understandings, both written and oral, among the parties and their Affiliates, or any of them, with
respect to the subject matter hereof and thereof. No provision of this Agreement shall confer upon any Person other than the parties hereto and their permitted assigns any rights or remedies hereunder, except that
Section 8.14 shall be for the benefit of, and enforceable by, each of the Related Parties. 
 SECTION 8.06.
Governing Law; Jurisdiction. 
 (a) This Agreement and all matters, claims or Actions (whether at law, in equity, in Contract, in tort
or otherwise) based upon, arising out of or relating to this Agreement, execution or performance of this Agreement, shall be governed by, and construed in accordance with, the laws of the State of Delaware applicable to contracts executed in and to
be performed entirely within that State, regardless of the laws that might otherwise govern under any applicable conflict of Laws principles. 

  
 42 

 (b) All Actions arising out of or relating to this Agreement shall be heard and determined
in the Chancery Court of the State of Delaware (or, if the Chancery Court of the State of Delaware declines to accept jurisdiction over any Action, any state or federal court within the State of Delaware) and the parties hereto hereby irrevocably
submit to the exclusive jurisdiction and venue of such courts in any such Action and irrevocably waive the defense of an inconvenient forum or lack of jurisdiction to the maintenance of any such Action. The consents to jurisdiction and venue set
forth in this Section 8.06 shall not constitute general consents to service of process in the State of Delaware and shall have no effect for any purpose except as provided in this paragraph and shall not be deemed to confer
rights on any Person other than the parties hereto. Each party hereto agrees that service of process upon such party in any Action arising out of or relating to this Agreement shall be effective if notice is given by overnight courier at the address
set forth in Section 8.09. The parties hereto agree that a final judgment in any such Action shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by
applicable Law; provided, however, that nothing in the foregoing shall restrict any party’s rights to seek any post-judgment relief regarding, or any appeal from, a final trial court judgment. 

SECTION 8.07. Specific Enforcement. The parties hereto agree that irreparable damage for which monetary relief, even if available,
would not be an adequate remedy, would occur in the event that any provision of this Agreement is not performed in accordance with its specific terms or is otherwise breached, including if the parties hereto fail to take any action required of them
hereunder to cause the Closing to occur, and that time is of the essence. The parties acknowledge and agree that (a) the parties shall be entitled to an injunction or injunctions, specific performance or other equitable relief to prevent
breaches of this Agreement and to enforce specifically the terms and provisions hereof (including, for the avoidance of doubt, the right of the Company to cause the Purchase to be consummated on the terms and subject to the conditions set forth in
this Agreement) in the courts described in Section 8.06 without proof of damages or otherwise, this being in addition to any other remedy to which they are entitled under this Agreement and (b) the right of specific
enforcement is an integral part of the Transactions and without that right, neither the Company nor the Investor would have entered into this Agreement. The parties hereto agree not to assert that a remedy of specific enforcement is unenforceable,
invalid, contrary to Law or inequitable for any reason, and agree not to assert that a remedy of monetary damages would provide an adequate remedy or that the parties otherwise have an adequate remedy at law. The parties hereto acknowledge and agree
that any party seeking an injunction or injunctions to prevent breaches of this Agreement and to enforce specifically the terms and provisions of this Agreement in accordance with this Section 8.07 shall not be required to
provide any bond or other security in connection with any such order or injunction. 
 SECTION 8.08. WAIVER OF JURY TRIAL. EACH PARTY
ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE IT HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE
LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT AND ANY OF THE AGREEMENTS 

  
 43 

 
DELIVERED IN CONNECTION HEREWITH OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY. EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT (A) NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY
HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER, (B) IT UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF SUCH WAIVER, (C) IT MAKES SUCH WAIVER
VOLUNTARILY AND (D) IT HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVER AND CERTIFICATIONS IN THIS SECTION 8.08. 

SECTION 8.09. Notices. All notices, requests and other communications to any party hereunder shall be in writing and shall be deemed
given if delivered personally, emailed (which is confirmed) or sent by overnight courier (providing proof of delivery) to the parties at the following addresses: 
  

	 	(a)	 If to the Company, to it at: 

ADT Inc. 
 1501 Yamato Road 

Boca Raton, Florida 33431 

Attention:       Chief Legal Officer 

Email:             DSmail@adt.com 

with a copy (which shall not constitute notice) to: 

Cravath, Swaine & Moore LLP 

Worldwide Plaza 
 825 Eighth
Avenue 
 New York, New York 10019 

Attention:       Robert I. Townsend, III 

O. Keith Hallam, III 

Sanjay Murti 

Email:            RTownsend@cravath.com 

KHallam@cravath.com 

SMurti@cravath.com 
  

	 	(b)	 If to the Investor, to it at: 

State Farm Fire & Casualty Company 

One State Farm Plaza 

Bloomington, Illinois 61710 

Attention:       Steve McManus, SVP & General Counsel 

Email:             steve.mcmanus.benm@statefarm.com 

  
 44 

 with a copy (which shall not constitute notice) to: 

Sidley Austin LLP 
 One South
Dearborn Street 
 Chicago, Illinois 60603 

Attention:       Pran Jha 

Joseph P. Michaels 

Email:            Pjha@sidley.com 

Joseph.Michaels@sidley.com 
 or
such other address or email address as such party may hereafter specify by like notice to the other parties hereto. All such notices, requests and other communications shall be deemed received on the date of actual receipt by the recipient thereof
if received prior to 5:00 p.m. local time in the place of receipt and such day is a Business Day in the place of receipt. Otherwise, any such notice, request or communication shall be deemed not to have been received until the next succeeding
Business Day in the place of receipt. 
 SECTION 8.10. Severability. If any term, condition or other provision of this Agreement is
determined by a court of competent jurisdiction to be invalid, illegal or incapable of being enforced by any rule of Law or public policy, all other terms, provisions and conditions of this Agreement shall nevertheless remain in full force and
effect. Upon such determination that any term, condition 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 to the fullest extent permitted by applicable Law. 
 SECTION 8.11. Expenses. Except as otherwise
expressly provided herein, all costs and expenses, including fees and disbursements of counsel, financial advisors and accountants, incurred in connection with this Agreement and the Transactions shall be paid by the party incurring such costs and
expenses, whether or not the Closing shall have occurred. 
 SECTION 8.12. Interpretation. 

(a) When a reference is made in this Agreement to an Article, a Section, Exhibit or Schedule, such reference shall be to an Article of, a
Section of, or an Exhibit or Schedule to, this Agreement unless otherwise indicated. The table of contents and headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this
Agreement. Whenever the words “include”, “includes” or “including” are used in this Agreement, they shall be deemed to be followed by the words “without limitation”. The words “hereof”,
“herein” and “hereunder” and words of similar import when used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement. The words “date hereof” when used in this
Agreement shall refer to the date of this Agreement. The terms “or”, “any” and “either” are not exclusive. The word “extent” in the phrase “to the extent” shall mean the degree to which a subject or
other thing extends, and such phrase shall not mean simply “if”. The word “will” shall be construed to have the same meaning 

  
 45 

 
and effect as the word “shall”. The words “made available to the Investor” and words of similar import refer to documents delivered in writing or electronically to the
Investor or its Representatives at or prior to September 5, 2022. The words “ordinary course of business” shall be deemed to include any action taken or not taken by the Company that has been authorized by the Company Board acting in
good faith in response to the effects of COVID-19 on the Company or any of its Subsidiaries. All accounting terms used and not defined herein shall have the respective meanings given to them under GAAP. The
definitions contained in this Agreement are applicable to the singular as well as the plural forms of such terms and to the masculine as well as to the feminine and neuter genders of such term. In the event that the Common Stock is listed on a
national securities exchange other than the NYSE, all references herein to the NYSE shall be deemed to be references to such other national securities exchange. Any agreement, instrument or statute defined or referred to herein or in any agreement
or instrument that is referred to herein means such agreement, instrument or statute as from time to time amended, modified or supplemented, including (in the case of agreements or instruments) by waiver or consent and (in the case of statutes) by
succession of comparable successor statutes and references to all attachments thereto and instruments incorporated therein. Unless otherwise specifically indicated, all references to “dollars” or “$” shall refer to the lawful
money of the United States. References to a Person are also to its permitted assigns and successors. When calculating the period of time between which, within which or following which any act is to be done or step taken pursuant to this Agreement,
the date that is the reference date in calculating such period shall be excluded (and unless if otherwise required by Law, if the last day of such period is not a Business Day, the period in question shall end on the next succeeding Business Day).

 (b) The parties hereto have participated jointly in the negotiation and drafting of this Agreement and, in the event an ambiguity or
question of intent or interpretation arises, this Agreement shall be construed as jointly drafted by the parties hereto and no presumption or burden of proof shall arise favoring or disfavoring any party hereto by virtue of the authorship of any
provision of this Agreement. 
 SECTION 8.13. Adjustments in Share Numbers and Prices. In the event of any stock split, subdivision,
dividend or distribution to all stockholders of the Company payable in shares of Common Stock (or other securities or rights convertible into, or entitling the holder thereof to receive directly or indirectly shares of Common Stock), combination or
other similar recapitalization or event occurring after the date hereof and prior to the Closing, each reference in any Transaction Document to a number of shares or a price per share shall be deemed to be amended to appropriately account for such
event; provided, however, that nothing in this Section 8.13 shall be construed to permit the Company to take any action with respect to its capital stock (or other securities
or rights convertible into, or entitling the holder thereof to receive directly or indirectly shares of its capital stock) that is prohibited by the terms of this Agreement. 

  
 46 

 SECTION 8.14. Non-Recourse. Each party hereto
agrees, on behalf of itself and its Affiliates, that all Actions, claims, obligations, liabilities or causes of action (whether in Contract or in tort, in Law or in equity or otherwise, or granted by statute or otherwise, whether by or through
attempted piercing of the corporate, limited partnership or limited liability company veil or any other theory or doctrine, including alter ego or otherwise) that may be based upon, in respect of, arise under, out of or by reason of, be connected
with, or relate in any manner to: (a) this Agreement, the other Transaction Documents, the Transactions, (b) the negotiation, execution or performance of this Agreement, the other Transaction Documents or any other agreement referenced
herein (including any representation or warranty made in, in connection with, or as an inducement to, this Agreement, the other Transaction Documents or such other agreement), (c) any breach or violation of this Agreement, the other Transaction
Documents, or any other agreement referenced herein, and (d) any failure of the transactions contemplated hereby or under any other agreement referenced herein to be consummated, in each case, may be made only against (and are those solely of)
the Persons that are expressly identified as parties to this Agreement or, in the case of the other Transaction Documents and the other agreements referenced herein, the persons that are expressly named as parties thereof, and, in accordance with,
and subject to the terms and conditions of, this Agreement, such other Transaction Document or such other agreement referenced herein, as applicable. In furtherance and not in limitation of the foregoing, each party hereto covenants, agrees and
acknowledges, on behalf of itself and its respective Affiliates, that no recourse under this Agreement or in connection with any of the Transactions shall be sought or had against any other Person, and no other Person shall have any liabilities or
obligations (whether in Contract or in tort, in Law or in equity or otherwise, or granted by statute or otherwise, whether by or through attempted piercing of the corporate, limited partnership or limited liability company veil or any other theory
or doctrine, including alter ego or otherwise) for any claims, causes of action, obligations or liabilities arising under, out of, in connection with or related in any manner to the items in clauses (a) through (d) of the immediately preceding
sentence, it being expressly agreed and acknowledged that no personal liability or losses whatsoever shall attach to, be imposed on or otherwise be incurred by any of the aforementioned, as such, arising under, out of, in connection with or related
in any manner to the items in clauses (a) through (d) of the immediately preceding sentence. Notwithstanding anything to the contrary herein or otherwise, except as contemplated in the proviso of the first sentence of this
Section 8.14, with respect to each party hereto, no past, present or future director, manager, officer, employee, incorporator, member, partner, shareholder, agent, attorney, advisor, lender or Representative or Affiliate
of such named party (the “Related Parties”) shall be responsible or liable for any multiple, consequential, indirect, special, statutory, exemplary or punitive damages which may be alleged as a result of this Agreement, the
Transactions, or the valid termination or abandonment of any of the foregoing. 
 [Remainder of page intentionally left blank] 

  
 47 

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

			
	ADT INC.
		
	By:	 	 /s/ James D. DeVries

		 	Name: James D. DeVries
		 	Title:   President and Chief Executive Officer

 [Signature Page to Securities Purchase Agreement] 

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

			
	STATE FARM FIRE & CASUALTY COMPANY
		
	By:	 	 /s/ Paul Smith

		 	Name: Paul Smith
		 	Title: Senior Vice President

 [Signature Page to Securities Purchase Agreement] 

 Annex I – Form of Development Agreement 

[Omitted] 

 Annex II – Form of Investor Rights Agreement 

INVESTOR RIGHTS AGREEMENT 

BY AND BETWEEN 
 ADT
INC. 
 AND 

STATE FARM FIRE & CASUALTY COMPANY 

DATED AS OF 
 [•],
2022 

 TABLE OF CONTENTS 

 

					
	 	  	Page	 
	 Section 1. Definitions
	  	 	1	 
		
	 Section 2. Transfer Restrictions
	  	 	8	 
	 2.1. Investor Transfer Restrictions
	  	 	8	 
	 2.2. Company Issuance Restrictions
	  	 	10	 
		
	 Section 3. Securities Restrictions; Legends
	  	 	12	 
	 3.1. Securities Restrictions; Legends
	  	 	12	 
		
	 Section 4. Registration Rights
	  	 	13	 
	 4.1. Shelf Registration Statement
	  	 	13	 
	 4.2. Demand Registration Rights
	  	 	14	 
	 4.3. Piggy-Back Registration Rights
	  	 	15	 
	 4.4. Registration Procedures
	  	 	17	 
	 4.5. Company Suspension Rights
	  	 	20	 
	 4.6. Expenses
	  	 	20	 
	 4.7. Indemnification
	  	 	21	 
	 4.8. Assignment
	  	 	23	 
		
	 Section 5. Drag-Along Rights
	  	 	23	 
	 5.1. General
	  	 	23	 
	 5.2. Notice
	  	 	23	 
	 5.3. Terms of a Drag-Along Transaction
	  	 	24	 
	 5.4. Cooperation
	  	 	24	 
	 5.5. Costs
	  	 	25	 
	 5.6. Drag-Along Transaction Not Consummated
	  	 	25	 
		
	 Section 6. Election of Directors
	  	 	25	 
	 6.1. Nomination Rights
	  	 	25	 
	 6.2. Vacancies; Removal
	  	 	26	 
	 6.3. Fall-Away
	  	 	26	 
	 6.4. Indemnification; Exculpation; Directors and Officers Insurance; Fees and Expenses
	  	 	26	 
	 6.5. Conditions
	  	 	26	 
		
	 Section 7. Voting
	  	 	27	 
		
	 Section 8. Standstill
	  	 	27	 
		
	 Section 9. Information Rights; Confidentiality
	  	 	30	 
	 9.1. Information Rights
	  	 	30	 
	 9.2. Confidentiality
	  	 	31	 

  
 i 

					
	 Section 10. Reorganization Transactions
	  	 	32	 
		
	 Section 11. Miscellaneous Provisions
	  	 	32	 
	 11.1. Governing Law; Jurisdiction; Waiver of Jury Trial
	  	 	32	 
	 11.2. Amendment
	  	 	33	 
	 11.3. Termination
	  	 	33	 
	 11.4. Transfer of Lock-Up Shares
	  	 	33	 
	 11.5. Notices
	  	 	33	 
	 11.6. Specific Performance
	  	 	35	 
	 11.7. Treatment of Certain Transfers
	  	 	35	 
	 11.8. Counterparts
	  	 	35	 
	 11.9. Severability
	  	 	35	 
	 11.10. Further Efforts
	  	 	36	 
	 11.11. Extension of Time, Waiver, Etc
	  	 	36	 
	 11.12. Entire Agreement; No Third-Party Beneficiaries
	  	 	36	 
	 11.13. No Personal Liability
	  	 	36	 
	 11.14. Non-Recourse
	  	 	36	 
	 11.15. No Partnership Status
	  	 	37	 
	 11.16. Binding Effect
	  	 	37	 
	 11.17. Further Acknowledgements
	  	 	37	 
	 11.18. Interpretation
	  	 	38	 
	 11.19. Assignment
	  	 	39	 

  
 ii 

 This INVESTOR RIGHTS AGREEMENT is made as of [•], 2022 (this
“Agreement”) by and between ADT Inc., a Delaware corporation (the “Company”), and State Farm Fire & Casualty Company, an Illinois stock insurance company (the “Investor” and, together with
the Company, the “Parties”). Capitalized terms used herein but not defined herein are as defined in the Purchase Agreement (as defined below). 

WHEREAS, in connection with the transactions contemplated by that certain Securities Purchase Agreement by and between the Company and
the Investor dated as of September 5, 2022 (the “Purchase Agreement”), the Company has issued, sold and delivered to the Investor, and the Investor has purchased and acquired from the Company, 133,333,333 shares of common stock, par
value $0.01 per share, of the Company (“Common Stock”, and the shares of Common Stock purchased by the Investor pursuant to the Purchase Agreement, the “Lock-Up Shares”) at a
price of $9.00 per share of Common Stock (the “Purchase Price”, and such issuance, sale, delivery, purchase and acquisition, the “Purchase”); 

WHEREAS, pursuant to the Purchase Agreement, the Company agreed to commence a cash tender offer (the “Tender Offer”)
to purchase up to 133,333,333 shares of Common Stock and, in order to comply with the terms of the Company Charter, shares of Class B Common Stock (as defined below), in the aggregate (the “Maximum Amount”) at a price per share
equal to the Purchase Price; 
 WHEREAS, concurrently with the execution of the Purchase Agreement, and as a condition and material
inducement to the willingness of the Company to enter into the Purchase Agreement, the Company entered into a Tender and Support Agreement with certain of the Company’s stockholders, pursuant to which such stockholders have, among other
matters, agreed to collectively tender a number of shares of Common Stock beneficially owned by such stockholders equal in the aggregate to at least the Maximum Amount in the Tender Offer; 

WHEREAS, concurrently with the execution of the Purchase Agreement, and as a condition and material inducement to the willingness of
the Company to enter into the Purchase Agreement, the Company entered into a Support Agreement with Google LLC (“Google Investor”), pursuant to which Google Investor has, among other matters, agreed to not tender any shares of
Class B common stock, par value $0.01 per share, of the Company (“Class B Common Stock”) or shares of Common Stock issued or issuable upon conversion of any shares of Class B Common Stock in the Tender
Offer; and 
 WHEREAS, as a condition to the willingness of the Company and the Investor to consummate the transactions contemplated
by the Purchase Agreement and for other good and valuable consideration received, the Parties are entering into this Agreement, which sets forth certain terms and conditions regarding, among other things, transfer restrictions and registration
rights to which the Lock-Up Shares will be subject. 
 NOW, THEREFORE, the Parties hereby
agree as follows: 
 Section 1. Definitions. 

As used in this Agreement: 

  
 1 

 “50% Beneficial Ownership Requirement” means that the Investor and its
Permitted Transferees continue to beneficially own shares of Common Stock that represent at least fifty percent (50%) of the Lock-Up Shares. 

“Acceptance Notice” has the meaning ascribed to such term in Section 2.1(d). 

“Activist Shareholder” means, as of any date of determination, a Person (other than the Investor and its Affiliates) that, to
the Investor’s actual knowledge (after reasonable inquiry, which shall be satisfied by review of Factset, Activist Insight or a similar online resource), has, directly or indirectly through its Affiliates, whether individually or as a member of
a Group, within the three (3)-year period immediately preceding such date of determination (a) called or publicly sought to call a meeting of the stockholders or other equityholders of any Person not
publicly approved (at the time of the first such action) by the board of directors or similar governing body of such Person, (b) publicly initiated any proposal for action by stockholders or other equityholders of any Person initially publicly
opposed by the board of directors or similar governing body of such Person, (c) publicly sought election to, or to place a director or representative on, the board of directors or similar governing body of a Person, or publicly sought the
removal of a director or other representative from such board of directors or similar governing body, in each case, which election or removal was not recommended or approved publicly (at the time such election or removal is first sought) by the
board of directors or governing body of such Person or (d) publicly disclosed any intention, plan or arrangement to do any of the foregoing. 

“Affiliate” means, with respect to any Person, any other Person that, directly or indirectly, through one or more
intermediaries, controls, is controlled by, or is under common control with, such Person. The term “control” means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of a
Person, whether through the ownership of voting securities, by contract or otherwise, including the ability to elect at least a majority of the members of the board of directors or other governing body of a Person, and the terms
“controlled” and “controlling” have correlative meanings. Notwithstanding anything herein to the contrary, for purposes of this Agreement, other than in the case of the definitions of “Control Transfer,”
“Transferring Party” and “Related Parties,” Section 5.1, Section 5.3(c), Section 11.14, and Section 11.17, no portfolio
company (other than the Company and its Subsidiaries) or investment fund or account affiliated with or managed by affiliates of Apollo Global Management, Inc. shall be deemed Affiliates of any of the Company or its Subsidiaries, nor shall any of the
Company or its Subsidiaries be deemed Affiliates of any portfolio company (other than any of the Company or its Subsidiaries) or investment fund or account affiliated with or managed by affiliates of Apollo Global Management, Inc. 

“Agreement” has the meaning ascribed to such term in the preamble. 

“Board” means the Board of Directors of the Company and any duly authorized committee thereof. 

“Closing” means the consummation of the Purchase. 

“Common Stock” has the meaning ascribed to such term in the recitals. 

  
 2 

 “Company” has the meaning ascribed to such term in the preamble. 

“Company Acceptance Notice” has the meaning ascribed to such term in Section 2.2. 

“Company Proposed Sale” has the meaning ascribed to such term in Section 2.2. 

“Company ROFR Acceptance Period” has the meaning ascribed to such term in Section 2.2. 

“Company ROFR Offer” has the meaning ascribed to such term in Section 2.2. 

“Company ROFR Purchase Price” has the meaning ascribed to such term in Section 2.2. 

“Compass Solar Agreement” means that certain Investor Rights Agreement, dated December 8, 2021, by and among the Company
and the holders thereto, as may be amended, supplemented, restated or otherwise modified from time to time. 
 “Confidential
Information” has the meaning ascribed to such term in Section 9.2. 
 “Control Transfer”
means a Transfer (other than a Permitted Transfer) which would have the effect of transferring to a Person or Group that is not an Affiliate of TopCo Parent a number of shares of Common Stock such that, following the consummation of such
Transfer, such Person or Group possesses fifty percent (50%) or more of the outstanding voting stock or equity securities of the Company or the voting power to elect a majority of the Board (whether by merger, consolidation or sale or transfer or
otherwise). 
 “Drag-Along Holder” has the meaning ascribed to such term in Section 5.1. 

“Drag-Along Notice” has the meaning ascribed to such term in Section 5.2. 

“Drag-Along Transaction” has the meaning ascribed to such term in Section 5.1. 

“Excluded Securities Transaction” means any issuance of Common Stock, Class B Common Stock or other Company Securities
by the Company (i) pursuant to Rule 144 in brokers’ transactions (as defined thereunder), (ii) in a market transaction exempted under Rule 144A under the Securities Act to a “qualified institutional buyer” that is a financial
institution or (iii) in any other underwritten offering; provided, in each case, that the Company does not issue any Common Stock, Class B Common Stock or other Company Securities to, or request, encourage or knowingly permit any
brokers or “qualified institutional buyers” to resell such Common Stock, Class B Common Stock or other Company Securities, as applicable, to, any Person who is known or reasonably should be known by such entity to be a Specified
Purchaser. 
 “Exempt Prospectus Supplement” means any prospectus supplement to a Registration Statement pursuant to which
the Company shall offer solely equity securities as consideration for an acquisition. For the avoidance of doubt, a prospectus supplement that provides for the offer of securities by any Person other than the Company shall not be an Exempt
Prospectus Supplement. 

  
 3 

 “Fall-Away Event” means the first day on which the Investor and its
Permitted Transferees no longer meet the 50% Beneficial Ownership Requirement. 
 “Google Investor” has the meaning
ascribed to such term in the recitals. 
 “Google Investor Rights Agreement” means, collectively, (a) the Investor
Rights Agreement, by and between the Company and Google LLC, dated as of September 17, 2020 and (b) the Investor Side Agreement, by and between TopCo Parent and Google LLC, dated as of July 31, 2020. 

“Group” has the meaning ascribed thereto in Section 13(d)(3) of the Exchange Act. 

“Inspectors” has the meaning ascribed to such term in Section 4.4(o). 

“Investor” has the meaning ascribed to such term in the preamble. 

“Investor Designee” has the meaning ascribed to such term in Section 6.1. 

“Investor Parent” has the meaning ascribed to such term in Section 2.1(b)(i). 

“Investor Parties” means the Investor and each permitted transferee of the Investor to whom shares of Common Stock are
transferred pursuant to Section 2.1(b)(i). 
 “Investor Side Agreement” has the meaning ascribed
to such term in Section 2.1(a). 
 “Lock-Up Period” has
the meaning ascribed to such term in Section 2.1. 
 “Lock-Up
Shares” has the meaning ascribed to such term in the recitals. 
 “Marketable Securities” means any security that
(a) is of a class that is publicly traded on a U.S. national securities exchange and (b) as of the relevant date of determination, is not subject to any material legal or other restrictions (including volume and timing) on the sale or
disposition thereof. 
 “Marketed Underwritten Offering” has the meaning ascribed to such term in
Section 4.2(a). 
 “Maximum Amount” has the meaning ascribed to such term in the recitals. 

“MIRA” means the Amended and Restated Management Investor Rights Agreement among the Company, Prime Security Services Topco
Parent, L.P. and other parties thereto, dated January 23, 2018. 
 “New Holdco” has the meaning ascribed to such term
in Section 10. 

  
 4 

 “Non-Marketed Underwritten
Offering” has the meaning ascribed to such term in Section 4.2(b). 
 “Non-Underwritten Shelf Takedown” has the meaning ascribed to such term in Section 4.2(c). 

“offer” means an irrevocable written offer. 

“Offering Party” has the meaning ascribed to such term in Section 2.1(d). 

“Parties” has the meaning ascribed to such term in the preamble. 

“Permitted Transfer” has the meaning ascribed to such term in Section 2.1(b). 

“Permitted Transferees” has the meaning ascribed to such term in Section 2.1(b)(i). 

“Piggy-Back Notice” has the meaning ascribed to such term in Section 4.3(a). 

“Piggy-Back Registration Right” has the meaning ascribed to such term in Section 4.3(a). 

“Prohibited Transferee” means (a) Vivint Smart Home, Inc., Monitronics International, Inc. (doing business as Brinks
Home Security), Comcast Corporation and AT&T Inc., Verizon Communications Inc., Amazon.com, Inc., SimpliSafe, Inc., Sunrun, Inc., Sunnova Energy International Inc, Tesla Inc. and SunPower Inc. (as well as their respective Affiliates and any
direct or indirect successors of such Persons) and (b) any Activist Shareholder. 
 “Proposed Sale” has the meaning
ascribed to such term in Section 2.1(d). 
 “Purchase” has the meaning ascribed to such term in
the recitals. 
 “Purchase Agreement” has the meaning ascribed to such term in the recitals. 

“Purchase Price” has the meaning ascribed to such term in the recitals. 

“Records” has the meaning ascribed to such term in Section 4.4(o). 

“Registrable Securities” shall mean (a) any shares of Common Stock owned by the Investor or other securities of the
Company owned by the Investor or acquired by the Investor after the date hereof, and (b) any shares of Common Stock issued as or in (or issuable upon the conversion or exercise of any warrant, right or other security that is issued as or in) a
dividend, stock split or other distribution with respect to, or in exchange for or upon conversion or exercise of, or in replacement of, the shares or securities referenced in clause (a); provided, however, that any Registrable
Securities shall cease to be Registrable Securities when (i) a Registration Statement with respect to the sale of such Registrable Securities has been declared effective under the Securities Act and such Registrable Securities have been
disposed of in accordance with the plan of distribution set forth in such Registration Statement, (ii) such 

  
 5 

 
Registrable Securities are distributed or sold, pursuant to Rule 144 under the Securities Act, or (iii) such Registrable Securities shall have been otherwise transferred and new
certificates for them not bearing a legend restricting further transfer under the Securities Act shall have been delivered by the Company and subsequent disposition of such securities does not require registration or qualification of such securities
under the Securities Act or any state securities or “blue sky” Law then in force, except, in the case of the foregoing clause (i) and clause (ii), with respect to any such distribution or sale of Registrable Securities to a single
Person and its Affiliates of not less than 50,000,000 shares of Common Stock (subject to appropriate adjustment, if any, for changes in the outstanding shares of capital stock of the Company, including by reason of any reclassification,
recapitalization, consolidation, stock split (including reverse stock split) or combination, exchange or readjustment of shares, or any stock dividend or similar transaction). 

“Registration Rights Agreement” means that certain Registration Rights Agreement, dated as of January 23, 2018, between
TopCo Parent and the Company, as amended by that certain Amendment, dated June 22, 2018, among TopCo Parent, Prime Security Services TopCo Parent II, L.P. and the Company. 

“Registration Statement” means any registration statement of the Company filed with, or to be filed with, the SEC under the
rules and regulations promulgated under the Securities Act (other than a Registration Statement on Form S-4 or Form S-8, or any successor forms thereto,
promulgated under the Securities Act), including the related prospectus, amendments and supplements to such registration statement, including pre- and post-effective amendments, and all exhibits and material
incorporated by reference in such registration statement. 
 “Related Parties” has the meaning ascribed to such term in
Section 11.13. 
 “Reorganization” has the meaning ascribed to such term in
Section 10. 
 “Required Information” has the meaning ascribed to such term in
Section 4.1(c). 
 “ROFR Acceptance Period” has the meaning ascribed to such term in
Section 2.1(d). 
 “ROFR Offer” has the meaning ascribed to such term in
Section 2.1(d). 
 “ROFR Purchase Price” has the meaning ascribed to such term in
Section 2.1(d). 
 “Rule 144” means Rule 144 (or any successor
provisions) under the Securities Act. 
 “Rule 415” means Rule 415 (or any successor provisions)
under the Securities Act. 
 “SEC” has the meaning ascribed to such term in Section 9. 

  
 6 

 “securities” shall mean, with respect to any Person, all equity interests
of such Person, all securities convertible into, exercisable or exchangeable for equity interests of such Person, and all options, warrants, and other rights to purchase or otherwise acquire from such Person equity interests, including any equity
appreciation or similar rights, contractual or otherwise. 
 “Securities Indemnified Party” has the meaning ascribed to
such term in Section 4.7(c). 
 “Securities Indemnifying Party” has the meaning ascribed to such
term in Section 4.7(c). 
 “Shelf Registration Statement” means a Registration Statement of the
Company filed with the SEC on Form S-3 (or any successor form or other appropriate form under the Securities Act) or a prospectus supplement to an existing
Form S-3 (or any successor form or other appropriate form under the Securities Act), for an offering to be made on a continuous basis pursuant to Rule 415 under the Securities Act (or any similar
rule that may be adopted by the SEC) covering all of the Registrable Securities, as applicable, and which may also cover any other securities of the Company. For purposes of clarity, this term shall include a Registration Statement of the Company
filed with the SEC on such other form available to register for resale all of the Registrable Securities as a secondary offering, if the Company is then ineligible to register for resale all of the Registrable Securities on Form S-3. 
 “Specified Purchaser” means: (a) American International Group,
Inc., The Hartford Financial Services Group, Inc., Munich Reinsurance Company, Swiss Reinsurance Company Ltd and Berkshire Hathaway Inc. (as well as their respective Affiliates and any direct or indirect successors of such Persons) and (b) any
other Person that, as of the date hereof or the date a Company ROFR Offer is delivered, is one of the ten (10) largest homeowners insurance companies in the United States, measured on the basis of the total amount of direct written premiums in
the non-tenant homeowner insurance category. 
 “TopCo Parent” means Prime Security
Services TopCo Parent, L.P., a Delaware limited partnership. 
 “Transfer” by any Person means, directly or indirectly, to
sell, transfer, assign, pledge, encumber, hypothecate or otherwise dispose of or transfer (by the operation of Law or otherwise), either voluntarily or involuntarily, or to enter into any contract, option or other arrangement, agreement or
understanding with respect to the sale, transfer, assignment, pledge, encumbrance, hypothecation or other disposition or transfer (by the operation of Law or otherwise), of any shares of equity securities beneficially owned by such Person or of any
interest in any shares of equity securities beneficially owned by such Person. The terms “Transfers”, “Transferred” and “Transferring” shall have correlative meanings. 

“Transferring Party” has the meaning ascribed to such term in Section 5.1. 

“Underwritten Offering” means a sale of Common Stock to an underwriter for reoffering to the public. 

  
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 “Underwritten Offering Notice” has the meaning ascribed to such term in
Section 4.2(d). 
 Section 2. Transfer Restrictions. 

2.1. Investor Transfer Restrictions. 

(a) Except as otherwise permitted in this Agreement or as otherwise set forth in that certain Investor Side Agreement, dated as of
September 5, 2022 and effective as of the Closing, by and between TopCo Parent and the Investor (the “Investor Side Agreement”), until the earlier of (x) the date that is the three
(3)-year anniversary of the date hereof or (y) the date on which the Development Agreement has been validly terminated in accordance with its terms for any reason other than termination by ADT LLC
pursuant to Section 7.2(b) thereof (the “Lock-Up Period”), the Investor will not (i) Transfer any Lock-Up Shares or (ii) make any short
sale of, grant any option for the purchase of, or enter into any hedging or similar transaction with the same economic effect as a short sale of or the purpose of which is to offset the loss which results from a decline in the market price of, any Lock-Up Shares, or otherwise establish or increase, directly or indirectly, a put equivalent position, as defined in Rule 16a-1(h) under the Exchange Act, with respect to
any of the Lock-Up Shares or any other capital stock of the Company. 
 (b) Notwithstanding
Section 2.1(a), the Investor shall be permitted to Transfer any portion or all of its Lock-Up Shares at any time under the following circumstances (each, a “Permitted
Transfer”): 
 (i) Transfers to any controlled Affiliates of State Farm Mutual Automobile Insurance Company
(“Investor Parent”), but only if the transferee agrees in writing prior to such Transfer for the express benefit of the Company (in form and substance reasonably satisfactory to the Company and with a copy thereof to be furnished to
the Company) to be bound by the terms of this Agreement and if the transferee and the transferor agree for the express benefit of the Company that the transferee shall Transfer the Lock-Up Shares so
Transferred back to the transferor at or before such time as the transferee ceases to be a controlled Affiliate of Investor Parent (any such transferee, a “Permitted Transferee”); 

(ii) Transfers in connection with a Drag-Along Transaction pursuant to the terms of Section 5 (and,
for the avoidance of doubt, if the Investor does Transfer Lock-Up Shares to a third party in connection with a Drag-Along Transaction pursuant to the terms of Section 5, the
restrictions set forth in Section 2.1 shall not apply to such third party with respect to such Lock-Up Shares); 

(iii) Transfers in connection with (A) any third party tender or exchange offer involving the Common Stock that has been
approved by the Board or (B) any tender or exchange offer by the Company (and, for the avoidance of doubt, if the Investor does Transfer Lock-Up Shares to a third party in connection with such tender or
exchange offer, the restrictions set forth in Section 2.1 shall not apply to such third party with respect to such Lock-Up Shares); 

  
 8 

 (iv) Transfers in accordance with the Investor Side Agreement (and, for the
avoidance of doubt, if the Investor does Transfer Lock-Up Shares to a third party in accordance with the Investor Side Agreement, the restrictions set forth in Section 2.1 shall not
apply to such third party with respect to such Lock-Up Shares); and 
 (v) Transfers
that have been approved by the Board (and, for the avoidance of doubt, if the Investor does Transfer Lock-Up Shares to a third party with the Board’s approval, the restrictions set forth in
Section 2.1 shall not apply to such third party with respect to such Lock-Up Shares). 

(c) Notwithstanding Section 2.1(a) and Section 2.1(b), but subject to
Section 2.1(d), unless the Lock-Up Period shall have terminated as a result of Section 2.1(a)(y) (in which case the restrictions set forth in
Section 2.1 shall no longer remain in effect), the Investor will not at any time during or following the Lock-Up Period, without the prior written consent of the Company, directly or
knowingly indirectly: 
 (i) Transfer any Lock-Up Shares to a Prohibited Transferee
or to a Person or Group that, after giving effect to a proposed Transfer, would beneficially own greater than ten percent (10%) of the then outstanding Common Stock on an as-converted basis; or 

(ii) Transfer, on any day, an aggregate number of Lock-Up Shares that would be in
excess of ten percent (10%) of the average daily trading volume of the Common Stock for the preceding four (4) weeks on the NYSE; provided that, notwithstanding the foregoing, the Investor shall be permitted to undertake one
(1) Transfer per week by means of a block trade (even if the number of Lock-Up Shares Transferred in such block trade exceeds the foregoing limitation) so long as the
Lock-Up Shares Transferred in such block trade are the only Lock-Up Shares Transferred by the Investor and its Affiliates on such trading day. 

Notwithstanding the foregoing, nothing in this Section 2.1(c) shall restrict any Transfer into the public market pursuant to a bona
fide, broadly distributed underwritten public offering made pursuant to Section 4. 
 (d) At any time following
the expiration of the Lock-Up Period, in the event that the Investor or its permitted transferees receive a bona fide offer or offers from a third party (such party, an “Offering Party”) to
Transfer to the Offering Party any portion of the Lock-Up Shares held by the Investor or its permitted transferees and the Investor or its permitted transferees would otherwise be prohibited by
Section 2.1(c)(i) from making such Transfer (a “Proposed Sale”), the Investor or its permitted transferees shall promptly deliver to the Company in writing a notice of the Proposed Sale (the “ROFR
Offer”) setting forth in reasonable detail (i) a description of the Proposed Sale and the identification of the Offering Party, (ii) the number of Lock-Up Shares subject to the ROFR Offer
and the amount and value of consideration therefor (the value of such consideration, the “ROFR Purchase Price”) and (iii) any and all other material terms and conditions of the ROFR Offer. The Company shall have the right (but
not the obligation) to elect to purchase all (but not less than all) of the Lock-Up Shares subject to the ROFR Offer (at the ROFR Purchase Price and on the terms and conditions set forth in the ROFR

  
 9 

 
Offer) within ten (10) days of its receipt of the ROFR Offer (such period of time, the “ROFR Acceptance Period”). If the Company accepts the ROFR Offer as to all (but not
less than all) of the Lock-Up Shares subject to the ROFR Offer, it shall evidence its acceptance by delivering to the Investor or its permitted transferees a written notice of intent to purchase the Lock-Up Shares subject to the ROFR Offer (such notice, an “Acceptance Notice”). The consummation of the acquisition of the Lock-Up Shares subject to the
Acceptance Notice shall be consummated within thirty (30) days following receipt by the Investor or its permitted transferee of the Acceptance Notice, at which time the ROFR Purchase Price shall be paid in cash (regardless of the form of
consideration the Offering Party would otherwise have paid in the Proposed Sale) to the Investor or its permitted transferees, and the Investor or its permitted transferees shall deliver to the Company the certificates representing the Lock-Up Shares so purchased, duly endorsed for Transfer or accompanied by duly executed stock powers or assignment forms, if any, or in the event any such certificates are alleged to have been lost, stolen or
destroyed, an affidavit of lost, stolen or destroyed certificates to be delivered to the Company in a form reasonably satisfactory to the Company (including, if so requested, a bond in customary amount), and evidence of good title to the Lock-Up Shares subject to the ROFR Offer so purchased and the absence of liens, encumbrances and adverse claims with respect thereto (other than restrictions under applicable securities Laws, the Company Charter,
and any applicable transfer documents) and such other matters as are deemed reasonably necessary by the Company for the proper Transfer of the applicable Lock-Up Shares to the Company. If the Company does not
accept the ROFR Offer with respect to all of the Lock-Up Shares subject to the ROFR Offer prior to the expiration of the ROFR Acceptance Period, the Investor or its permitted transferees shall be permitted to
Transfer all (but not less than all) of the Lock-Up Shares described in the ROFR Offer to the Offering Party at a price not less than the ROFR Purchase Price and otherwise on terms and conditions not more
favorable to the Offering Party than those set forth in the ROFR Offer and the restrictions set forth in Section 2.1(c)(i) shall not apply to such Proposed Sale; provided, however, if such Proposed Sale to the
Offering Party is not consummated within sixty (60) days after the expiration of the ROFR Acceptance Period, the restrictions set forth in Section 2.1(c)(i) shall again apply to the applicable Lock-Up Shares, and no Transfer of such Lock-Up Shares that is otherwise prohibited by Section 2.1(c)(i) may be made thereafter by the Investor or
its permitted transferees without first complying with the procedures set forth in this Section 2.1(d). 
 2.2.
Company Issuance Restrictions. In the event that the Company (x) receives a bona fide offer from a Specified Purchaser to purchase from the Company, or (y) makes a bona fide offer to a Specified Purchaser to issue, in each case, any
Common Stock, Class B Common Stock or other Company Securities pursuant to a negotiated transaction (excluding any Excluded Securities Transaction) (a “Company Proposed Sale”), the Company shall promptly deliver to the Investor
in writing a notice of the Company Proposed Sale (the “Company ROFR Offer”) setting forth in reasonable detail (i) a description of the Company Proposed Sale and the identification of the Specified Purchaser, (ii) the
number of Common Stock, Class B Common Stock or other Company Securities subject to the Company ROFR Offer and the amount and value of consideration therefor (the value of consideration, the “Company ROFR Purchase Price”) and
(iii) any and all other material terms and conditions of the Company ROFR Offer. The Investor shall have the right (but not the obligation) to elect to purchase all (but not less than all) of the Common Stock, Class B Common Stock or other
Company Securities subject to the Company ROFR Offer (at the Company ROFR Purchase Price and on the terms and conditions set forth in the Company ROFR Offer) within ten 

  
 10 

 
(10) days of its receipt of the Company ROFR Offer (such period of time, the “Company ROFR Acceptance Period”). If the Investor accepts the Company ROFR Offer as to all (but
not less than all) of the Common Stock, Class B Common Stock or other Company Securities subject to the Company ROFR Offer, it shall evidence its acceptance by delivering to the Company a written notice of intent to purchase the Common Stock,
Class B Common Stock or other Company Securities subject to the Company ROFR Offer (such notice, a “Company Acceptance Notice”). The consummation of the acquisition of the Common Stock, Class B Common Stock or other
Company Securities subject to the Company Acceptance Notice shall be consummated within thirty (30) days following receipt by the Company of the Company Acceptance Notice (provided, however, that such thirty (30)-day period shall be extended by the time necessary to obtain any required approvals of any governmental authority under any applicable laws; provided, further, and notwithstanding anything to the
contrary set forth herein, if the proposed time of closing of a sale pursuant to this Section 2.2 is delayed or extended by more than one hundred eighty (180) days following receipt by the Company of the Acceptance
Notice, the Investor shall have the right to withdraw its Acceptance Notice) at which time the Company ROFR Purchase Price shall be paid in cash (regardless of the form of consideration the Specified Purchaser would otherwise have paid in the
Company Proposed Sale) to the Company, and the Company shall deliver to the Investor the certificates (if any) representing the Common Stock, Class B Common Stock or other Company Securities so purchased, and evidence of good title to the
Common Stock, Class B Common Stock or other Company Securities subject to the Company ROFR Offer so purchased and the absence of liens, encumbrances and adverse claims with respect thereto (other than restrictions under applicable securities
Laws, the Company Charter, and any applicable transfer documents) and such other matters as are deemed reasonably necessary by the Investor for the proper purchase of the applicable Common Stock, Class B Common Stock or other Company
Securities. If the Investor does not accept the Company ROFR Offer with respect to all of the Common Stock, Class B Common Stock or other Company Securities subject to the Company ROFR Offer prior to the expiration of the Company ROFR
Acceptance Period, the Company shall be permitted to issue all (but not less than all) of the Common Stock, Class B Common Stock or other Company Securities described in the Company ROFR Offer to the Specified Purchaser at a price not less than
the Company ROFR Purchase Price and otherwise on terms and conditions not more materially favorable in the aggregate to the Specified Purchaser than those set forth in the Company ROFR Offer; provided, however, if such Company Proposed
Sale to the Specified Purchaser is not consummated within one hundred and twenty (120) days after the expiration of the Company ROFR Acceptance Period, the restrictions set forth in this Section 2.2 shall again apply
to the applicable Common Stock, Class B Common Stock or other Company Securities, and no issuance of such Common Stock, Class B Common Stock or other Company Securities that is otherwise prohibited by Section 2.2
may be made thereafter by the Company without first complying with the procedures set forth in this Section 2.2. Notwithstanding anything to the contrary herein, the Investor shall cease to have any rights pursuant to this
Section 2.2 upon the earliest of (x) the occurrence of a Fall-Away Event, (y) the termination of the Development Agreement by ADT LLC pursuant to Section 7.2(b) thereof and (z) the five (5) year
anniversary of the date of this Agreement; provided that this clause (z) shall not apply if the Development Agreement remains in effect on such date. 

  
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 Section 3. Securities Restrictions; Legends. 

3.1. Securities Restrictions; Legends. 

(a) The Investor acknowledges that its Lock-Up Shares have not been registered under the Securities
Act and as such its Lock-Up Shares may not be transferred except pursuant to an effective Registration Statement under the Securities Act or pursuant to an exemption from registration under the Securities Act.
The Investor agrees that it will not make any Transfer at any time if such action would or would be likely to (i) constitute a violation of any securities Laws of any applicable jurisdiction or a breach of the conditions to any exemption from
registration of Lock-Up Shares under any such Laws or (ii) cause the Company to become subject to the registration requirements of the U.S. Investment Company Act of 1940. 

(b) Each certificate representing Lock-Up Shares, or other instrument (including a statement issued by
the registrar in connection with a book-entry system) representing Lock-Up Shares, shall (unless otherwise permitted by the provisions of Section 3.1(e) below) be stamped or otherwise
imprinted with a legend in substantially the following form: 
 “THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED. THEY MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT AS TO THE SECURITIES UNDER SAID ACT OR AN OPINION OF COUNSEL SATISFACTORY TO THE
COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.” 
 (c) Each certificate or other instrument evidencing the securities issued upon
the transfer of any Lock-Up Shares shall bear the legend set forth above in Section 3.1(b) unless (i) in such opinion of counsel to the Company registration of any future
transfer is not required by the applicable provisions of the Securities Act or (ii) the Company shall have waived the requirement of such legends. 

(d) When (i) any Lock-Up Shares are sold or otherwise Transferred pursuant to an effective
Registration Statement under the Securities Act or (ii) the Investor has transferred or intends to transfer such shares pursuant to Rule 144, the Investor shall be entitled to receive from the Company, without expense to the Investor, a
new certificate or other instrument (including a statement issued by the registrar in connection with a book-entry system) representing shares of Common Stock not bearing the restrictive legend set forth above in
Section 3.1(b). 
 (e) Each certificate representing Lock-Up Shares, or
other instrument (including a statement issued by the registrar in connection with a book-entry system) representing Lock-Up Shares, shall during the Lock-Up Period be
stamped or otherwise imprinted with a legend in substantially the following form: 

  
 12 

 “THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE ALSO SUBJECT TO AN INVESTOR
RIGHTS AGREEMENT, DATED AS OF [•], 2022, BY AND AMONG THE ISSUER OF SUCH SECURITIES (THE “COMPANY”) AND THE OTHER PARTIES NAMED THEREIN, AND AN INVESTOR SIDE AGREEMENT, DATED AS OF SEPTEMBER 5, 2022, BY AND BETWEEN TOPCO PARENT
AND THE OTHER PARTIES NAMED THEREIN, IN EACH CASE, AS THE SAME MAY BE AMENDED, RESTATED, MODIFIED OR SUPPLEMENTED FROM TIME TO TIME. THE TERMS OF SUCH INVESTOR RIGHTS AGREEMENT OR INVESTOR SIDE AGREEMENT INCLUDE, AMONG OTHER THINGS, RESTRICTIONS ON
TRANSFER AND OWNERSHIP OF THE SECURITIES REPRESENTED HEREBY. A COPY OF SUCH AGREEMENT WILL BE FURNISHED WITHOUT CHARGE BY THE COMPANY TO THE INVESTOR HEREOF UPON WRITTEN REQUEST.” 

(f) At the expiration of the Lock-Up Period, the Investor shall be entitled to receive from the
Company, without expense and without undue delay, a new certificate or other instrument (including a statement issued by the registrar in connection with a book-entry system) representing shares of Common Stock not bearing the restrictive legend set
forth above in Section 3.1(e). 
 Section 4. Registration Rights. 

4.1. Shelf Registration Statement. 

(a) Obligation to File Shelf Registration Statement. Subject to the receipt of the Required Information (as defined below), the Company
shall file with the SEC a Shelf Registration Statement relating to the offer and sale by the Investor from time to time of all its Registrable Securities in accordance with the methods of distribution set forth in the Shelf Registration Statement
and shall use its reasonable best efforts to cause such Shelf Registration Statement to be declared effective under the Securities Act or become automatically effective, as applicable, no later than upon the expiration of the Lock-Up Period (for purposes of clarity, if the Company is then ineligible to register for resale all of the Registrable Securities on Form S-3, such registration shall
be on such other form available to register for resale all of the Registrable Securities as a secondary offering). 
 (b) Continued
Effectiveness. Subject to the provisions of Section 4.5, the Company shall use its reasonable best efforts to keep the Shelf Registration Statement continuously effective under the Securities Act in order to permit the
prospectus forming a part thereof to be usable by the Investor until the earlier of (i) the day the Investor no longer holds any Registrable Securities and (ii) the three (3)-year anniversary of the expiration of the Lock-Up Period. 

  
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 (c) Required Information. The Investor agrees to promptly provide to the Company any
information reasonably requested by the Company in order to satisfy the applicable disclosure requirements in connection with any Shelf Registration Statement or prospectus forming a part thereof (the “Required Information”). It
shall be a condition precedent to the obligations of the Company to take any action pursuant to this Section 4.1 with respect to any Registrable Securities held by the Investor that the Company shall have received all the
applicable Required Information from the Investor, it being understood that the Investor shall consult as appropriate with its own counsel and advisors at its own expense in connection with the completion of the Required Information. 

4.2. Demand Registration Rights. 

(a) Requests for Marketed Underwritten Offerings. After the expiration of the Lock-Up Period,
the Investor may from time to time request to sell Registrable Securities in an underwritten offering that is registered pursuant to the Shelf Registration Statement that includes roadshow presentations or investor calls by management of the Company
or other marketing efforts by the Company (a “Marketed Underwritten Offering”); provided that in the case of each such Marketed Underwritten Offering the Registrable Securities proposed to be sold shall have an aggregate
offering price of at least $100 million; and provided, further, that the Company shall not be required to effect (A) a Marketed Underwritten Offering if another Marketed Underwritten Offering has been effected and priced
within ninety (90) days or (B) more than two (2) Marketed Underwritten Offerings within any twelve (12)-month period (it being understood that for purposes of this proviso, a Marketed
Underwritten Offering will be deemed to include any Marketed Underwritten Offering as defined under the Registration Rights Agreement or the Google Investor Rights Agreement). 

(b) Requests for Non-Marketed Underwritten Offerings. The Investor may from time to time
request to sell Registrable Securities in an underwritten offering that is registered under the Shelf Registration Statement that does not include any marketing efforts by the Company or its management, including a “block trade” and an
“overnight transaction” (a “Non-Marketed Underwritten Offering”); provided that, in the case of each such Non-Marketed Underwritten
Offering the Registrable Securities proposed to be sold shall have an aggregate offering price of at least $20 million. 
 (c)
Requests for Non-Underwritten Offerings. The Investor may from time to time request to initiate an offering or sale of all or part of its Registrable Securities that does not constitute an Underwritten
Offering (a “Non-Underwritten Shelf Takedown”), the Investor shall so indicate in a written request delivered to the Company no later than three (3) Business Days prior to the expected
date of such Non-Underwritten Shelf Takedown, which request shall include (i) the type and total number of Registrable Securities expected to be offered and sold in such
Non-Underwritten Shelf Takedown and (ii) the expected plan of distribution of such Non-Underwritten Shelf Takedown. 

(d) Underwritten Offering Notices. All requests for Underwritten Offerings shall be made by giving written notice to the Company (an
“Underwritten Offering Notice”), and upon receipt of an Underwritten Offering Notice the Company shall use its reasonable best efforts to effect an Underwritten Offering as expeditiously as reasonably possible for the number of
Registrable Securities requested and in the manner requested by the Investor, subject to the terms of this Agreement. Each Underwritten Offering Notice shall specify (i) the approximate number of Registrable Securities to be sold in the
Underwritten Offering, (ii) whether such offering will be a Marketed Underwritten Offering or a Non-Marketed Underwritten Offering, (iii) the intended marketing efforts, if any, and (iv) the
name(s) of the underwriter(s), if then known. 

  
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 (e) Selection of Underwriters and Underwriting Agreement. In an Underwritten
Offering, (i) the Investor shall select the investment banker or investment bankers and managers that will serve as lead and co-managing underwriters with respect to the offering of such Registrable
Securities, and (ii) the Company shall enter into an underwriting agreement that is reasonably acceptable to the Investor and the Company, which agreement shall contain representations, warranties, indemnities and agreements customarily
included (but not inconsistent with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers.

 (f) Cut-backs. The Investor acknowledges that certain other stockholders of the Company
have demand rights and piggyback rights pursuant to the Registration Rights Agreement, the MIRA, the Google Investor Rights Agreement and the Compass Solar Agreement, as applicable. If, in connection with an Underwritten Offering, the lead
bookrunning underwriters advise the Company, in writing, that, in their reasonable opinion, the inclusion of all of the securities, including securities of the Company that are not Registrable Securities, sought to be registered in connection with
such Underwritten Offering would adversely affect the marketability of the Registrable Securities sought to be sold pursuant thereto, then the Company shall include in such Underwritten Offering only such securities as the Company is reasonably
advised by such underwriters can be sold without such adverse effect as follows and in the following order of priority: (i) first, up to the number of securities requested to be included in such Underwritten Offering by (a) the Investor,
(b) any Stockholder (as defined in the Registration Rights Agreement) pursuant to the Registration Rights Agreement, (c) the Google Investor pursuant to the Google Investor Rights Agreement, (d) the Major Holders (as defined in the
Compass Solar Agreement) pursuant to the Compass Solar Agreement and (e) any other stockholders holding pari passu registration rights, pro rata among all such Persons referenced in clauses (a) through (e) based upon the
number of securities which such Persons requested to be included in such offering; and (ii) second, securities the Company proposes to sell for its own account. 

4.3. Piggy-Back Registration Rights. 

(a) Participation. After the expiration of the Lock-Up Period, in the event that the Company
proposes to register any shares of Common Stock under the Securities Act (other than pursuant to (i) a Registration Statement on Form S-4 or Form S-8, or
any successor forms thereto, promulgated under the Securities Act or (ii) an Exempt Prospectus Supplement), for its own account or the account of any of its other stockholders, including take-downs or offerings off a Shelf Registration
Statement (excluding block trades and overnight transactions), the Company shall give the Investor prior written notice (the “Piggy-Back Notice”) of its intention to effect such a registration at least ten (10) Business Days
before the anticipated filing date, or at least two (2) Business Days in the case of a block trade or an overnight transaction. The Piggy-Back Notice shall set forth (A) the anticipated filing date of such Registration Statement and
(B) the number of shares of Common Stock that the Company intends to include in such 

  
 15 

 
Registration Statement. Subject to Section 4.3(b), the Investor shall have the right (the “Piggy-Back Registration Right”) to request that the Company
use its reasonable best efforts to cause all the Registrable Securities that the Investor specifies in a written request and delivers to the Company within five (5) Business Days after the giving of such Piggy-Back Notice to be included in such
registration on the same terms and conditions as the other securities otherwise being sold in such registration. 
 (b)
Underwriter’s Cutback. If the Piggy-Back Notice is with respect to a registration of securities in an Underwritten Offering, the Company shall so advise the Investor in the Piggy-Back Notice and the Investor shall (together with the
Company) enter into an underwriting agreement in customary form with the managing underwriter or underwriters selected for the Underwritten Offering. Notwithstanding any other provision of this Section 4.3, if the managing
underwriter or underwriters determine that the inclusion of some or all of the Registrable Securities and securities proposed to be included in the registration and the Underwritten Offering would adversely affect the successful marketing (including
pricing) of the offering, then the Company shall include in such Registration Statement only such number of Registrable Securities and securities as such underwriters have advised the Company can be sold in such offering without such adverse effect,
to be allocated in the following manner: (i) in cases initially involving the registration for sale of securities for the Company’s own account: (A) first, one hundred percent (100%) of the securities that the Company proposes to sell
for its own account; (B) second, the number of securities, if any, requested to be included in such offering by any stockholder pursuant to the Registration Rights Agreement; (C) third, the number of securities requested to be included in
such offering by the Google Investor pursuant to the Google Investor Rights Agreement; (D) fourth, the number of securities requested to be included in such offering by the Major Holders (as defined in the Compass Solar Agreement), pro
rata between such Major Holders based upon the number of securities which such Major Holders requested to be included in such offering; (E) fifth, the number of Registrable Securities requested to be included in such offering by the
Investor; and (F) only if all of the securities referred to in clauses (A) through (E) have been included in such registration, any other securities eligible for inclusion in such registration; and (ii) in cases not initially
involving the registration for sale of securities for the Company’s own account, (A) first, the number of securities, if any, requested to be included in such offering by any stockholder pursuant to the Registration Rights Agreement or the
MIRA; (B) second, the number of securities requested to be included in such offering by the Google Investor pursuant to the Google Investor Rights Agreement; (C) third, the number of securities requested to be included in such offering by
the Major Holders (as defined in the Compass Solar Agreement), pro rata between such Major Holders based upon the number of securities which such Major Holders requested to be included in such offering; (D) fourth, the number of
Registrable Securities requested to be included in such offering by the Investor; (E) fifth, the number of securities that the Company proposes to sell for its own account; and (F) only if all of the securities referred to in
clauses (A) through (E) have been included in such registration, any other securities eligible for inclusion in such registration. 

  
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 (c) Underwriter’s Lock-Up Period. In
connection with any registration of Registrable Securities under the Securities Act pursuant to this Section 4.3 for sale to the public, the Investor agrees to enter into a
“lock-up” agreement on customary terms if requested by the underwriter of such offering; provided that (A) such agreement shall not restrict the selling of any Registrable Security for
more than ninety (90) days after the effective date of such Registration Statement and (B) the Investor shall be released from any such “lock-up” agreement in the event and to the extent
that the underwriter of such offering does not impose a similar restriction on, or permits a discretionary waiver or termination of a similar restriction with respect to, any officer or director of the Company or holder of greater than five percent
(5%) of the Common Stock; provided, further, that this Section 4.3(c) shall only apply to the Investor if its Registrable Securities are included in such offering. 

4.4. Registration Procedures. In connection with any registration pursuant to this Section 4, subject
to the provisions of such Section 4: 
 (a) The Company shall furnish to the Investor without charge such number
of copies of the Registration Statement, each amendment and supplement thereto (in each case including all exhibits thereto and documents incorporated by reference therein), the prospectus included in such Registration Statement (including each
preliminary prospectus and any summary prospectus) and any other prospectus filed under the Securities Act and such other documents as the Investor may reasonably request in order to facilitate the disposition of the Registrable Securities owned by
the Investor. The Investor shall have the right to request that the Company modify any information contained in such Registration Statement, amendment and supplement thereto pertaining to the Investor and the Company shall use all reasonable best
efforts to comply with such request; provided that the Company shall not have any obligation to so modify any information if the Company reasonably expects that so doing would cause the prospectus to contain an untrue statement of a material
fact or omit to state any material fact required to be stated therein or necessary to make the statements therein not misleading. 
 (b) In
connection with any filing of any Registration Statement or prospectus or amendment or supplement thereto, the Company shall cause such document (i) to comply in all material respects with the requirements of the Securities Act and the rules
and regulations of the SEC thereunder and (ii) with respect to information supplied by or on behalf of the Company for inclusion in the Registration Statement, to not contain any untrue statement of a material fact or omit to state a material
fact required to be stated therein or necessary to make the statements therein not misleading. 
 (c) The Company shall promptly notify the
Investor and, if requested by the Investor, confirm in writing, when the Registration Statement has become effective and when any post-effective amendments and supplements thereto become effective. 

(d) The Company shall promptly furnish the Investor and its respective counsel with copies of any written comments from the SEC or any state
securities authority or any written request by the SEC or any state securities authority for amendments or supplements to a Registration Statement or prospectus or for additional information generally. 

(e) After the filing of a Registration Statement, the Company shall (i) cause the related prospectus to be supplemented by any required
prospectus supplement, and, as so supplemented, to be filed pursuant to Rule 424 under the Securities Act, (ii) comply with the provisions of the Securities Act with respect to the disposition of all Registrable Securities covered by the
Registration Statement during the applicable period in accordance with the intended methods of disposition by the Investor set forth in such Registration Statement or supplement to such prospectus and (iii) promptly notify the Investor and its
respective counsel of any stop order issued or threatened in writing by the SEC or any state securities commission and use reasonable best efforts to prevent the entry of such stop order or to remove it if entered. 

  
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 (f) The Company shall use all reasonable best efforts to (i) register or qualify the
Registrable Securities covered by the Registration Statement under such securities or “blue sky” Laws of such jurisdictions in the United States as the Investor reasonably requests and (ii) cause such Registrable Securities to be
registered with or approved by such other governmental agencies or authorities as may be necessary by virtue of the business and operations of the Company and do any and all other acts and things that may be reasonably necessary or advisable to
enable the Investor to consummate the disposition of the Registrable Securities owned by the Investor, provided that the Company shall not be required to (A) qualify generally to do business in any jurisdiction where it would not
otherwise be required to qualify but for this Section 4.4(f), (B) subject itself to taxation in any such jurisdiction or (C) consent to general service of process in any such jurisdiction. 

(g) The Company shall use reasonable best efforts to list such Registrable Securities on the principal securities exchange on which Common
Stock is then listed and provide a transfer agent, registrar and CUSIP number for all such Registrable Securities not later than the effective date of the Registration Statement. 

(h) The Company shall use reasonable best efforts to cooperate with the Investor to facilitate the timely preparation and delivery of
certificates representing Registrable Securities to be sold and not bearing any restrictive legends, and enable such Registrable Securities to be in such denominations (consistent with the provisions of the governing documents thereof) and
registered in such names as the Investor may reasonably request at least two (2) Business Days prior to any sale of Registrable Securities. 

(i) The Company shall promptly notify the Investor and its respective counsel, at any time when a prospectus relating thereto is required to
be delivered under the Securities Act, of the occurrence of an event requiring the preparation of a supplement or amendment to such prospectus so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus will
not contain an untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein not misleading and promptly prepare and make available to the Investor and file with the
SEC any such supplement or amendment subject to any suspension rights contained herein. 
 (j) The Company shall take all reasonable actions
to ensure that any free writing prospectus utilized in connection with an offering of a Registration Statement hereunder complies in all material respects with the Securities Act, is filed in accordance with the Securities Act to the extent required
thereby, is retained in accordance with the Securities Act to the extent required thereby and, when taken together with the related prospectus, shall not contain any untrue statement of a material fact or omit to state a material fact required to be
stated therein or necessary to make the statements therein not misleading. 

  
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 (k) The Company shall otherwise use all reasonable best efforts to comply with all
applicable rules and regulations of the SEC, and make available to its security holders, as soon as reasonably practicable, an earnings statement or such other document that shall satisfy the provisions of Section 11(a) of the Securities Act
and Rule 158 thereunder. 
 (l) The Investor agrees that, upon receipt of any notice from the Company of the occurrence of any event of
the kind described in Section 4.4(i), the Investor shall forthwith discontinue disposition of Registrable Securities pursuant to the Registration Statement covering such Registrable Securities until such Investor’s
receipt of the copies of the supplemented or amended prospectus contemplated by Section 4.4(i), and, if so directed by the Company, the Investor shall deliver to the Company all copies, other than any permanent file copies
then in the Investor’s possession, of the most recent prospectus covering such Registrable Securities at the time of receipt of such notice. If the Company shall give such notice, the Company shall extend the period during which such
Registration Statement shall be maintained effective by the number of days during the period from and including the date of the giving of notice pursuant to Section 4.4(i) to the date when the Company shall make available
to the Investor a prospectus supplemented or amended to conform with the requirements of Section 4.4(i), which extension shall apply regardless of whether Registrable Securities are eligible to be sold under Rule 144.

 (m) The Company shall use reasonable best efforts to take such action as is reasonably necessary to enable the Investor to deliver their
Registrable Securities sold pursuant to a Registration Statement, including the removal of any applicable restrictive legends with respect to the Registrable Securities that have been sold pursuant to a Registration Statement and, if required,
delivery of an opinion of counsel to the Company solely in connection with such removal. 
 (n) In connection with an Underwritten Offering,
the Company shall obtain for each underwriter: (i) an opinion of counsel for the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by the
underwriters, and (ii) a “comfort” letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in AU 634, an “agreed upon procedures” letter)
signed by the independent public accountants who have certified the Company’s financial statements included in such registration statement. 

(o) The Company shall promptly make available for inspection by a representative of the selling stockholders, any underwriter participating in
any disposition pursuant to any Registration Statement, and any attorney, accountant or other agent or representative retained by the selling stockholders (collectively and not individually) or underwriter (collectively, the
“Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due
diligence responsibility in connection with such registration statement, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement;
provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the Registration Statement or the release of such Records is ordered pursuant to a subpoena or other order from
a court of competent jurisdiction, the Company shall not be required to provide any information under this Section 4.4(o) if (i) the Company believes, 

  
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after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was applicable to such information or (ii) if either
(A) the Company has requested and been granted from the SEC confidential treatment of such information contained in any filing with the SEC or documents provided supplementally or otherwise or (B) the Company reasonably determines that
such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such selling stockholder requesting such information agrees, and causes each of its Inspectors,
to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each selling stockholder agrees that it will, upon learning that disclosure of such Records is sought in a court of
competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed confidential. 

(p) The Company shall have appropriate officers of the Company prepare and make presentations at any “road shows” and before
analysts and other information meetings organized by the underwriters, and otherwise use its commercially reasonable efforts to cooperate as reasonably requested by the selling stockholders and the underwriters in the offering, marketing or selling
of the securities. 
 (q) The Company shall take all other reasonable steps necessary to effect the registration and disposition of the
Registrable Securities contemplated hereby. 
 4.5. Company Suspension Rights. Notwithstanding anything contained herein to
the contrary, the Company shall have the right to require the Investor to suspend offers and sales of Registrable Securities included on any Registration Statement filed whenever, and for so long as, in the judgment of the Company either (a) an
event has occurred which makes any statement made in such Registration Statement or related prospectus or document incorporated therein or deemed to be incorporated therein by reference untrue in any material respect or which requires the making of
any changes in such Registration Statement or prospectus so that it will not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein not misleading
or (b) it is advisable to suspend use of the Registration Statement and prospectus due to pending corporate developments or public filings with the SEC or similar events; provided, however, that (i) the aggregate number of
days included in any such suspension period shall not exceed ninety (90) days in any twelve (12)-month period and (ii) during such suspension period the Company will not register any securities for
its own account or the account of any other Person. 
 4.6. Expenses. The Company shall pay all reasonable out-of-pocket expenses of the Investor in connection with each registration of Registrable Securities requested pursuant to this Section 4 and other
expenses incidental to the Company’s performance of, or compliance with, this Section 4; provided that (a) the Company only shall pay reasonable fees and expenses of no more than one (1) firm of
counsel for the Investor whose Registrable Securities are to be included in a registration and (b) the Investor shall pay its portion of all applicable underwriting fees, discounts and similar charges, if any, relating to the sale of its
Registrable Securities included in any Registration Statement pursuant to this Section 4. 

  
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 4.7. Indemnification. 

(a) Indemnification by the Company. To the fullest extent permitted by applicable Law, the Company shall indemnify the Investor, the
Investor’s Affiliates, each of their respective directors and officers and each underwriter of the Company’s securities covered by a Registration Statement, if any, and each Person who controls any underwriter within the meaning of the
Securities Act or the Exchange Act, against all claims, losses, damages and liabilities (or actions in respect thereof) arising out of or based on: (i) any untrue statement (or alleged untrue statement) of a material fact contained in any
Registration Statement, including any preliminary or final prospectus contained therein and any amendments or supplements thereto incident to any such registration; (ii) any omission (or alleged omission) to state therein a material fact
required to be stated therein or necessary to make the statements therein not misleading; or (iii) any violation by the Company of the Securities Act, the Exchange Act, any state securities or “blue sky” Laws or any rule or regulation
thereunder in connection with any such registration, and will reimburse the Investor, the Investor’s Affiliates, each of their respective directors and officers, each such underwriter and each Person who controls any such underwriter, as
applicable, for any legal and any other expenses reasonably incurred in connection with investigating and defending any such claim, loss, damage, liability or action; provided that the Company will not be liable in any such case to the extent
that any such claim, loss, damage, liability or expense arises out of or is based on (A) any untrue statement or omission based upon written information furnished to the Company by the Investor or the Investor’s Affiliate or underwriter
and stated to be specifically for use or (B) the failure of the Investor or any agent acting on behalf of the Investor to timely deliver a prospectus, except to the extent such failure was a result of the act or failure to act by the Company;
provided, further, that the Company shall in no instance be liable for consequential, punitive, exemplary, special or indirect damages or lost profits related to this Agreement except to the extent incurred in connection with a
third-party claim. The indemnity agreement contained in this Section 4.7 shall not apply to amounts paid in settlement of any such loss, claim, damage, liability or action if such settlement is effected without the consent
of the Company at its sole discretion. 
 (b) Indemnification by the Investor. To the fullest extent permitted by applicable Law, the
Investor will, if Registrable Securities held by it are included in the securities as to which such registration, qualification or compliance is being effected, severally, but not jointly, indemnify the Company, each of its directors and officers
and each underwriter of the Company’s securities covered by a Registration Statement, if any, and each Person who controls the Company or such underwriter within the meaning of the Securities Act or the Exchange Act, against all claims, losses,
damages and liabilities (or actions in respect thereof) arising out of or based on: (i) any untrue statement (or alleged untrue statement) of a material fact contained in any such Registration Statement, including any preliminary or final
prospectus contained therein and any amendments or supplements thereto, made by the Investor; or (ii) any omission (or alleged omission) to state therein a material fact required to be stated therein or necessary to make the statements by the
Investor therein not misleading, and will reimburse the Company and such directors, officers, underwriters or control persons for any legal or any other expenses reasonably incurred in connection with investigating or defending any such claim, loss,
damage, liability or action, in each case to the extent, but only to the extent, that such untrue statement or omission (or alleged untrue statement or omission) is made in such Registration Statement, including any preliminary or final prospectus
contained therein and any amendments 

  
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or supplements thereto, in reliance upon and in conformity with written information furnished to the Company by the Investor and stated to be specifically for use therein; provided,
however, that the obligations of the Investor hereunder shall be limited to an amount equal to the net proceeds that the Investor received by sale of securities as contemplated herein, except in the case of fraud or gross negligence by the
Investor; provided, further, that the Investor shall in no instance be liable for consequential, punitive, exemplary, special or indirect damages or lost profits related to this Agreement except to the extent incurred in connection
with a third-party claim, and that the indemnity agreement contained in this Section 4.7 shall not apply to amounts paid in settlement of any such loss, claim, damage, liability or action if such settlement is effected
without the consent of the Investor at its sole discretion. 
 (c) Indemnification Procedures. Each Person entitled to
indemnification under this Section 4.7 (each, a “Securities Indemnified Party”) shall give notice to the Person required to provide indemnification (the “Securities Indemnifying Party”)
promptly (but in any event within thirty (30) days) after such Securities Indemnified Party has actual knowledge of any claim as to which indemnity may be sought, and shall permit the Securities Indemnifying Party to assume the defense of any
such claim or any litigation resulting therefrom; provided, that counsel for the Securities Indemnifying Party, who shall conduct the defense of such claim or any litigation resulting therefrom, shall be approved by the Securities Indemnified
Party (whose approval shall not unreasonably be withheld) and the Securities Indemnified Party may participate in such defense at such Person’s expense (unless the Securities Indemnified Party shall have reasonably concluded, and shall have
informed the Securities Indemnifying Party of such conclusion, that there may be a conflict of interest between the Securities Indemnifying Party and the Securities Indemnified Party in such action, in which case the fees and expenses of counsel
shall be at the expense of the Securities Indemnifying Party); provided, further, that the failure of any Securities Indemnified Party to give notice as provided herein shall not relieve the Securities Indemnifying Party of its
obligations under this Section 4.7 unless the Securities Indemnifying Party is materially prejudiced thereby in its ability to defend such action. No Securities Indemnifying Party, in the defense of any such claim or
litigation shall, except with the written consent of each Securities Indemnified Party, consent to entry of any judgment or enter into any settlement. Each Securities Indemnified Party shall furnish such information regarding itself or the claim in
question as a Securities Indemnifying Party may reasonably request in writing and as shall be reasonably required in connection with the defense of such claim and litigation resulting therefrom. The Securities Indemnifying Party shall lose its right
to defend, contest, litigate and settle a matter if it shall fail to diligently contest such matter (except to the extent settled without the consent of the Securities Indemnified Party). 

(d) Contribution. If the indemnification provided for in Section 4.7 is not available or insufficient, for
any reason or reasons other than as specified herein, with respect to any loss, liability, claim, damage or expense referred to herein, then the Securities Indemnifying Party, in lieu of indemnifying such Securities Indemnified Party hereunder,
shall contribute to the amount paid or payable by such Securities Indemnified Party as a result of such loss, liability, claim, damage or expense in such proportion as is appropriate to reflect the relative fault of the Securities Indemnifying Party
on the one hand, and of the Securities Indemnified Party on the other, in connection with the statements or omissions which resulted in such loss, liability, claim, damage or expense, as well as any other relevant equitable considerations. The
relative fault of the Securities Indemnifying Party and of the Securities Indemnified Party shall be determined by 

  
 22 

 
reference to, among other things, whether the untrue (or allegedly untrue) statement of a material fact or the omission (or alleged omission) to state a material fact relates to information
supplied by the Securities Indemnifying Party or by the Securities Indemnified Party and the Persons’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. 

4.8. Assignment. Except (i) in connection with a Transfer contemplated by Section 2.1(b)(i) or
(ii) in connection with any Transfer of more than 50,000,000 shares of Common Stock (subject to appropriate adjustment, if any, for changes in the outstanding shares of capital stock of the Company, including by reason of any reclassification,
recapitalization, consolidation, stock split (including reverse stock split) or combination, exchange or readjustment of shares, or any stock dividend or similar transaction), the Investor may not assign its rights under this
Section 4 to any other party, provided, further that no assignment of rights under this Section 4 shall result in any expansion of rights or obligations of any Party under this
Section 4. 
 Section 5. Drag-Along Rights. 

5.1. General. If, after the six (6) month anniversary from the date hereof, TopCo Parent or any of its Affiliates (other
than the Company and its Subsidiaries) (each, a “Transferring Party”) proposes to make a Control Transfer to a non-Affiliated third party where the amount of consideration to be paid for each
share of Common Stock is equal to or greater than the Minimum Price (as defined in the Investor Side Agreement) (subject to appropriate adjustment, if any, for changes in the outstanding shares of capital stock of the Company, including by reason of
any reclassification, recapitalization, consolidation, stock split (including reverse stock split) or combination, exchange or readjustment of shares, or any stock dividend or similar transaction), such Transferring Party shall have the right at any
time to exercise drag-along rights in accordance with the terms, conditions and procedures set forth in this Section 5 to cause the Investor or its Affiliates (each, a “Drag-Along Holder”) to Transfer such
number of Lock-Up Shares determined by multiplying (a) a fraction, the numerator of which is the total number of shares of Common Stock proposed to be Transferred by such Transferring Party in a
Control Transfer and the denominator of which is the aggregate number of shares of Common Stock held by such Transferring Party and its Affiliates immediately prior to the proposed Control Transfer, by (b) the aggregate number of Lock-Up Shares owned by such Drag-Along Holder immediately prior to such Control Transfer (a “Drag-Along Transaction”). 

5.2. Notice. The Company shall cause the Transferring Party to deliver written notice (the “Drag-Along Notice”)
to the Investor at least ten (10) Business Days prior to the date on which the Drag-Along Transaction is expected to be consummated, which notice shall set forth (a) the name and address of the proposed acquirer, (b) the number of
shares of Common Stock proposed to be transferred to the proposed acquirer, (c) the amount and form of consideration for such shares of Common Stock (which consideration shall consist entirely of cash and/or Marketable Securities),
(d) other material terms and conditions of the Drag-Along Transaction (including a copy of the definitive agreement to effect such Control Transfer) and (e) the anticipated closing date for the Drag-Along Transaction. 

  
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 5.3. Terms of a Drag-Along Transaction. 

(a) Each Drag-Along Holder shall (i) be required to make individual customary representations and warranties solely as to the
unencumbered title to its Lock-Up Shares, the power, authority and legal right to transfer such Lock-Up Shares, the due execution and enforceability of the relevant
documents and the absence of any adverse claim (as set forth in Section 8-102 of the applicable Uniform Commercial Code) or litigation with respect to such Lock-Up
Shares, as well as customary representations with respect to the absence of conflicts or required consents and the lack of any brokerage, finder’s or other similar fee being payable based on arrangements made by such Drag-Along Holder and that
are also entered into (on substantially the same terms and conditions) by the Transferring Party in connection with the Drag-Along Transaction, (ii) agree to the same covenants, indemnities and agreements (and shall be subject on a pro
rata basis to the same escrow or other holdback arrangements) as made by the Transferring Party and (iii) otherwise agree to the same terms and conditions as the Transferring Party agrees to with respect to the Drag-Along Transaction (which
shall not include any non-competition, non-solicitation or similar restrictive agreements or covenants that would bind such Drag-Along Holder or its Affiliates),
provided that, notwithstanding anything herein to the contrary, the Drag-Along Holder shall not have any liability under any indemnities related to the Transferring Party or any other selling participant in the Drag-Along Transaction (except
for the Company, in accordance with this Section 5.3(a)). Liability under any indemnities related to the Company or its Subsidiaries shall be allocated among the Transferring Party and each Drag-Along Holder, pro
rata based on the value of the proceeds received by each of them, and the aggregate amount of liability for each Drag-Along Holder to the acquirer shall not exceed the net proceeds actually received by such Drag-Along Holder (other than in case
of fraud by such Drag-Along Holder). 
 (b) The consummation of any proposed Drag-Along Transaction (in whole or part) shall occur in the
sole discretion of the Transferring Party, who shall have no liability or obligation to the Investor or any Drag-Along Holder other than as set forth in this Agreement or as set forth in any definitive agreements with respect to such Drag-Along
Transaction in connection with the negotiation of, structuring, restructuring and cancellation (in whole or part) of such Drag-Along Transaction (it being understood that any consummation or cancellation in part shall apply proportionally based on
the number of shares of Common Stock and the Lock-Up Shares, as applicable, that the Transferring Party and each of the Drag-Along Holders are proposing to Transfer). 

(c) Notwithstanding anything to the contrary contained herein, each Drag-Along Holder acknowledges and agrees that it shall not be entitled to
any governance or similar rights or benefits granted to or otherwise conferred upon the Transferring Party or any of its Affiliates in such Drag-Along Transaction. 

5.5. Cooperation. Subject to the other terms in this Section 5, each Drag-Along Holder shall cooperate
with the Transferring Party and shall take any and all actions reasonably requested by the Transferring Party in connection with a Drag-Along Transaction, including voting all equity securities in favor of the Drag-Along Transaction and executing
any and all agreements and instruments reasonably requested by the Transferring Party, which in each case are no more burdensome than those executed by the Transferring Party. Without limiting the generality of the immediately preceding sentence,
each Drag-Along Holder hereby waives any and all dissenters, appraisal, quasi-appraisal or other similar rights such Drag-Along Holder may have in connection with any Drag-Along Transaction. 

  
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 5.6. Costs. All reasonable out-of-pocket costs and expenses incurred by or on behalf of the Company in connection with any proposed Drag-Along Transaction (whether or not consummated), including all attorneys’ fees and charges,
all accounting fees and charges and all finder, brokerage or investment banking fees, charges or commissions, shall be paid by the Company or its Subsidiaries. 

5.7. Drag-Along Transaction Not Consummated. In the event that a binding and definitive agreement for the sale or transfer in a
Drag-Along Transaction pursuant to this Section 5 is not entered into within one hundred and twenty (120) days after the Investor receives the Drag-Along Notice or the Drag-Along Transaction is not consummated
following satisfaction or waiver of all applicable conditions precedent within nine (9) months after the Investor receives the Drag-Along Notice, upon expiration of any definitive agreement for the Drag-Along Transaction then in effect, the
Drag-Along Holders shall cease to be bound by the obligations set forth in this Section 5 with regard to such transaction. 

Section 6. Election of Directors. 

6.1. Nomination Rights. Concurrently with the Closing, the Board shall take such actions as are necessary to increase the size
of the Board by one (1) director and appoint a designee of the Investor reasonably acceptable to the Company (an “Investor Designee”) as a member of the Board, in each case, in accordance with the Company’s Amended and
Restated Certificate of Incorporation, the Company’s Amended and Restated Bylaws and the General Corporation Law of the State of Delaware, to serve as a Class II director and with a term expiring at the 2025 annual meeting of the
Company’s stockholders and until his or her successor is duly elected and qualified. Thereafter, until the occurrence of the Fall-Away Event, at any annual meeting of the Company’s stockholders at which the term of an Investor Designee
shall expire, the Investor shall have the right to nominate to the Board one (1) Investor Designee as a member of the Board and the Company agrees, to the fullest extent permitted by applicable Law, to include such Investor Designee in the
slate of nominees recommended by the Board for election at such annual meeting of the Company’s stockholders and to nominate and recommend such Investor Designee to be elected as a director, and to solicit proxies or consents in favor thereof,
and to support the Investor Designee in a manner no less rigorous and favorable than the manner in which the Company supports its other nominees. Notwithstanding anything herein to the contrary, any employee of the Investor with a title of senior
vice president (or any title that is of a more senior designation) as of the date hereof shall be deemed reasonably acceptable to the Company for purposes of this Section 6.1, and the Company shall not unreasonably
withhold, condition or delay approving any other employee of the Investor with a title of senior vice president (or any title that is of a more senior designation) following the date hereof for purposes of this Section 6.1.
The Company acknowledges that, as of the date hereof, the Investor intends to designate Paul Smith as the initial Investor Designee, and the Company deems Paul Smith as a reasonably acceptable designee for purposes hereof should Investor so
designate him as the initial Investor Designee. 

  
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 6.2. Vacancies; Removal. In the event that an Investor Designee shall cease to
serve as a director of the Company for any reason, the Investor shall be entitled to designate such person’s successor in accordance with this Agreement, and the remaining directors and the Company shall, to the fullest extent permitted by
applicable Law, take all actions necessary at any time and from time to time to cause the vacancy created thereby to be filled by such new Investor Designee as soon as possible. No Investor Designee shall be removed from the Board by the Company
without the prior written consent of the Investor, other than for “cause,” as reasonably determined by the Board in good faith. 

6.3. Fall-Away. Upon the occurrence of a Fall-Away Event (a) the Investor Designee shall be deemed to have resigned from
the Board with immediate effect if so elected by the Company, and the Investor shall cease to have any rights under this Section 6 and (b) Investor shall cause the Investor Designee to deliver to the Company a
resignation letter, pursuant to which such Investor Designee shall resign from the Board if so elected by the Company. 
 6.4.
Indemnification; Exculpation; Directors and Officers Insurance; Fees and Expenses. The Company shall add the Investor Designee as a beneficiary to the Company’s directors’ and officers’ liability insurance policy
effective from the date such Investor Designee is appointed and shall provide all other contractual, insurance and other director liability indemnification or exculpation coverages and rights provided to other members of the Board. The Company shall
enter into an indemnification agreement with each Investor Designee that is on the same form as the indemnification agreements it has entered into with other members of the Board. The Investor Designee shall be entitled to reimbursement of
expenses incurred in such capacity on the same basis as the Company provides such reimbursement to the other members of its Board. 
 6.5.
Conditions. As a condition to the appointment of any Investor Designee or nomination for election as a director of the Company pursuant to this Section 6, the Investor agrees and acknowledges that the Company
will require: 
 (a) Any such Investor Designee to provide to the Company all information reasonably requested by the Company that is
required to be or is customarily disclosed for directors, candidates for directors and their respective Affiliates and representatives in a proxy statement or other filing in accordance with applicable Law or any stock exchange rules or listing
standards; 
 (b) Any such Investor Designee to provide to the Company all information reasonably requested by the Company in connection
with assessing eligibility, independence and other criteria applicable to directors or satisfying compliance and legal or regulatory obligations; and 

(c) Any such Investor Designee to provide to the Company an undertaking in writing by such Investor Designee to agree to recuse himself or
herself from any deliberations or discussions of the Board regarding the Transaction Documents and the transactions contemplated hereby if elicited by a majority of the members of the Board. 

  
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 6.6. Assignment. Except in a connection with a Transfer contemplated by
Section 2.1(b)(i), the Investor may not assign its rights under this Section 6 to any other party, provided that, for the avoidance of doubt, if Investor Transfers less than all of its Lock-Up Shares to a controlled Affiliate of Investor Parent, Investor and such controlled Affiliates of Investor Parent shall, subject to Section 6.3, collectively be entitled to appoint
one Investor Designee to the Board. 
 Section 7. Voting. Until the first day on which no Investor Designee serves as a member of the Board and the
Investor has no rights (or has irrevocably waived its rights) to nominate to the Board an Investor Designee under Section 6: 

7.1. At each meeting of the stockholders of the Company and at every postponement or adjournment thereof, the Investor shall, and shall cause
the Investor Parties to, take such action as may be required so that all of the shares of Common Stock beneficially owned, directly or indirectly, by the Investor Parties and entitled to vote at such meeting of stockholders are voted (i) in
favor of each director nominated and recommended by the Board for election at such meeting and (ii) against any stockholder nominations for director which are not approved and recommended by the Board for election; provided that no
Investor Party shall be under any obligation to vote in the same manner as recommended by the Board or in any other manner, other than in the Investor’s sole discretion, with respect to any other matter, including the approval (or nonapproval)
or adoption (or non-adoption) of, or other proposal directly related to, any merger or other business combination transaction involving the Company, the sale of all or substantially all of the assets of the
Company and its Subsidiaries or any other change of control transaction involving the Company. 
 7.2. The Investor shall, and shall (to the
extent necessary to comply with this Section 7) cause the Investor Parties to, be present, in person or by proxy, at all meetings of the stockholders of the Company so that all shares of Common Stock beneficially owned by
the Investor or the Investor Parties may be counted for the purposes of determining the presence of a quorum and voted in accordance with Section 7.1 at such meetings (including at any adjournments or postponements
thereof). 
 Section 8. Standstill. 

8.1. The Investor agrees that until five (5) days after the first day on which no Investor Designee serves on the Board and the Investor
has no rights (or has irrevocably waived its rights) to nominate to the Board an Investor Designee under Section 6, without the prior written approval of the Board, the Investor will not, directly or indirectly, and will
cause its Affiliates (including any other Investor Parties) not to: 
 (a) acquire, offer or seek to acquire, agree to acquire or make a
proposal to acquire, by purchase or otherwise, any equity securities or direct or indirect rights to acquire any equity securities of the Company, any securities convertible into or exchangeable for any such equity securities, any options or other
derivative securities (solely to the extent that, after giving effect to such acquisition, the Investor and its Affiliates would beneficially own, in the aggregate, greater than eighteen percent (18%) of the then outstanding Common Stock on an as-converted basis (which calculation shall, for the avoidance of doubt, include the notional or other 

  
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number of shares of Common Stock specified in the documentation for any Contract to which any of the Investor Parties are party which is designed to produce economic benefits and risks to any of
the Investor Parties that correspond substantially to the ownership by the Investor Parties of shares of Common Stock, except in the case of any such Contract which is settled only in cash)); 

(b) make or knowingly encourage or participate in any “solicitation” of “proxies” (whether or not relating to the election
or removal of directors), as such terms are used in the rules of the SEC, to vote, or knowingly seek to advise or influence any Person with respect to voting of, any voting securities of the Company or any of its Subsidiaries, or call or seek to
call a meeting of the Company’s stockholders or initiate any stockholder proposal for action by the Company’s stockholders, or seek election to or to place a representative on the Board or seek the removal of any director from the Board;

 (c) make any public announcement with respect to, or offer, seek or propose (in each case with or without conditions), any merger,
consolidation, business combination, tender or exchange offer, recapitalization, reorganization or purchase of more than fifty percent (50%) of the assets, properties or securities of the Company or any Subsidiary of the Company, or any other
extraordinary transaction involving the Company or any Subsidiary of the Company or any of their respective securities, or enter into any discussions, negotiations, arrangements, understandings or agreements (whether written or oral) with any other
Person regarding any of the foregoing; 
 (d) otherwise act, alone or in concert with others, to seek to control or influence, in any
manner, the management, board of directors or policies of the Company or any of its Subsidiaries; 
 (e) make any proposal or statement of
inquiry or disclose any intention, plan or arrangement inconsistent with any of the foregoing prohibited actions; 
 (f) advise, assist,
knowingly encourage or direct any Person to do, or to advise, assist, knowingly encourage or direct any other Person to do, any of the foregoing prohibited actions; 

(g) take any action that would require the Company to make a public announcement regarding any of the events described in or actions
prohibited by this Section 8; 
 (h) enter into any agreements, arrangements or understandings with any third
party (including security holders of the Company, but excluding, for the avoidance of doubt, any Investor Parties) with respect to any of the foregoing, including forming, joining or in any way participating in a Group with any third party in
connection with any of the foregoing prohibited actions; 
 (i) request the Company or any of its Representatives, directly or indirectly,
to amend or waive any provision of this Section 8; provided that this clause shall not prohibit the Investor Parties from making a confidential request to the Company seeking an amendment or waiver of the provisions
of this Section 8, which the Company may accept or reject in its sole discretion, so long as any such request is made in a manner that would not reasonably be expected to require public disclosure thereof by any Person; or

  
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 (j) contest the validity of this Section 8 or make, initiate, take
or participate in any demand, Action (legal or otherwise) or proposal to amend, waive or terminate any provision of this Section 8; 

provided, however, that nothing in this Section 8 will limit the Investor Parties’ ability to (A) vote
(subject to Section 7), Transfer (subject to Section 2) or otherwise exercise rights under its Common Stock, (B) designate an Investor Designee and the ability of any Investor Designee to
deliberate, vote or otherwise exercise his or her legal duties or otherwise act in his or her capacity as a member of the Board, (C) privately make and submit to the Company and/or the Board any proposal that is intended by the Investor Parties
to be made and submitted on a non-publicly disclosed or announced basis (and would not reasonably be expected to require public disclosure by any Person), (D) purchase Common Stock or other Company Securities
pursuant to Section 2.2, (E) purchase Common Stock or other Company Securities from TopCo Parent or any of its Affiliates (solely to the extent that, after giving effect to such purchase, the Investor and its Affiliates
would not beneficially own, in the aggregate, greater than twenty-five percent (25%) of the then outstanding Common Stock on an as-converted basis (which calculation shall, for the avoidance of doubt, include
the notional or other number of shares of Common Stock specified in the documentation for any Contract to which any of the Investor Parties are party which is designed to produce economic benefits and risks to any of the Investor Parties that
correspond substantially to the ownership by the Investor Parties of shares of Common Stock, except in the case of any such Contract which is settled only in cash), provided, that the foregoing limitation shall not be applicable to purchases
of Common Stock or other Company Securities made pursuant to Section 3 of the Investor Side Agreement), (F) perform or otherwise comply with its obligations, or exercise its rights, under the Development Agreement, or engage in discussions or
render services with respect to, consummate or otherwise pursue the transactions contemplated thereby or related thereto or (G) engage in any discussions with, or make or submit proposals to, TopCo Parent or any of its Affiliates intended to be
on a non-publicly disclosed or announced basis (and which would not reasonably be expected to require public disclosure by any Person). 

The provisions of Section 8 shall be inoperative and of no force or effect if, from and after the date thereof: (a) any Person
or group that is not an Affiliate of TopCo Parent shall have acquired or entered into a binding definitive agreement that has been approved by the Board (or any duly constituted committee thereof composed entirely of independent directors) to
acquire more than fifty percent (50%) of the outstanding voting stock or equity securities of the Company or the voting power to elect a majority of the Board or assets of the Company or its subsidiaries representing more than fifty percent (50%) of
the consolidated assets of the Company and its subsidiaries, taken as a whole, (b) any Person that is not an Affiliate of TopCo Parent commences a tender or exchange offer which, if successful, would result in such Person’s acquisition of
beneficial ownership of more than fifty percent (50%) of the outstanding voting stock or equity securities of the Company or the voting power to elect a majority of the Board, and in connection therewith, the Company does not, within ten
(10) Business Days after the date of the commencement of such solicitation, file with the SEC a Schedule 14D-9 with respect to such offer that recommends that the Company’s stockholders reject such
offer or (c) the Company becoming subject to any voluntary or involuntary reorganization or restructuring process relating to bankruptcy, insolvency or protection of creditors generally. 

  
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 Section 9. Information Rights; Confidentiality. 

9.1. Information Rights. Following the Closing and so long as the Fall-Away Event has not occurred, in order to facilitate
(x) the Investor’s compliance with legal and regulatory requirements applicable to the beneficial ownership by the Investor of equity securities of the Company and (y) the Investor’s oversight of its investment in the Company,
the Company agrees to provide the Investor with the following: 
 (a) within ninety (90) days after the end of each fiscal year of the
Company, (i) an audited, consolidated balance sheet of the Company and its Subsidiaries as of the end of such fiscal year, (ii) an audited, consolidated income statement of the Company and its Subsidiaries for such fiscal year and
(iii) an audited, consolidated statement of cash flows of the Company and its Subsidiaries for such fiscal year; provided that this requirement shall be deemed to have been satisfied when the Company files its annual report on Form 10-K for the applicable fiscal year with the Securities and Exchange Commission (the “SEC”) (regardless of whether such filing occurs within ninety (90) days after the end of such fiscal year);

 (b) within forty-five (45) days after the end of each of the first three (3) quarters of each fiscal year of the Company,
(i) an unaudited, consolidated balance sheet of the Company and its Subsidiaries as of the end of such fiscal quarter, (ii) an unaudited, consolidated income statement of the Company and its Subsidiaries for such fiscal quarter and
(iii) an unaudited, consolidated statement of cash flows of the Company and its Subsidiaries for such fiscal quarter; provided that this requirement shall be deemed to have been satisfied when the Company files its quarterly report on
Form 10-Q for the applicable fiscal quarter with the SEC (regardless of whether such filing occurs within forty-five (45) days after the end of such fiscal quarter); and 

(c) reasonable access, to the extent reasonably requested by the Investor, to the offices and the properties of the Company and its
Subsidiaries, including its and their books and records, and to discuss its and their affairs, finances and accounts with its and their officers, all upon reasonable notice and at such reasonable times and as often as the Investor may reasonably
request; provided that any investigation pursuant to this Section 8 shall be conducted in a manner as not to interfere unreasonably with the conduct of the business of the Company and its Subsidiaries; 

provided that the Company shall not be obligated to provide such access or materials if the Company determines, in its reasonable judgment, that doing
so would reasonably be expected to (i) violate applicable Law or an applicable order, (ii) jeopardize the protection of an attorney-client privilege, attorney work product protection or other legal privilege (provided, however, that the
Company shall use reasonable efforts to provide alternative, redacted or substitute documents or information in a manner that would not result in the loss of the ability to assert attorney-client privilege, attorney work product protection or other
legal privileges), or (iii) expose the Company to liability for disclosure of personal information; provided, further, that the Parties shall use their commercially reasonable efforts to disclose such information in a manner

  
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that would not violate the foregoing. In addition, notwithstanding anything to the contrary contained herein, neither the Company nor any of its Subsidiaries will be required to provide any
information or material that relate to, contain or reflect any analyses, studies, notes, memoranda and other information related to or prepared in connection with any Transaction Document or the transactions contemplated thereby or any matters
relating thereto or any transactions with or matters relating to the Investor. 
 9.2. Confidentiality. The Investor will, and
will cause its Affiliates and its and their respective Representatives to, keep confidential any information (including oral, written and electronic information) concerning the Company, its Subsidiaries or its Affiliates that may be furnished to the
Investor, its Affiliates or their respective Representatives by or on behalf of the Company or any of its Representatives pursuant to this Agreement, including any such information provided pursuant to Section 9.1
(“Confidential Information”) and to use the Confidential Information solely in connection with the Transaction Documents, the Transactions or the Investor’s investment in the Company; provided that the Confidential
Information shall not include information that (i) was or becomes generally available to the public other than as a result of a disclosure by the Investor, any of its Affiliates or any of their respective Representatives in violation of this
Section 9.2, (ii) becomes available to the Investor, any of its Affiliates or any of their respective Representatives on a non-confidential basis from a source other than the Company
or its Representatives; provided that such source is reasonably believed by the Investor not to be subject to an obligation of confidentiality (whether by agreement or otherwise) to the Company or its Affiliates with respect to such
information, (iii) is, at the time of disclosure to the Investor by or on behalf of the Company or its Representatives, already in the possession of the Investor; provided that such information is reasonably believed by the Investor not
to be subject to an obligation of confidentiality (whether by agreement or otherwise) to the Company or any of its Affiliates, or (iv) was or is independently developed by or on behalf of the Investor without reference to, incorporation of, or
other use of any Confidential Information. The Investor agrees, on behalf of itself and its Affiliates and its and their respective Representatives, that Confidential Information may be disclosed solely (A) to the Investor’s Affiliates and
its and their respective Representatives on a need-to-know basis or (B) in the event that the Investor, any of its Affiliates or any of its or their respective
Representatives are required by applicable Law, Judgment, stock exchange rule or other applicable judicial or governmental process (including by deposition, interrogatory, request for documents, subpoena, civil investigative demand or similar
process) to disclose any Confidential Information, in each of which instances described in this clause (B) the Investor, its Affiliates and its and their respective Representatives, as the case may be, shall use reasonable efforts to provide
notice to the Company sufficiently in advance of any such disclosure so that the Company will have a reasonable opportunity to timely seek to limit, condition or quash such disclosure. 

9.3. Assignment. Except in a connection with a Transfer contemplated by Section 2.1(b)(i), the Investor may
not assign its rights under this Section 9 to any other party. 

  
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 Section 10. Reorganization Transactions. 

In the event that TopCo Parent or one of its Affiliates enters into a capital reorganization transaction (a “Reorganization”)
(whether structured as a contribution, merger, conversion, consolidation, recapitalization or otherwise) in which TopCo Parent, directly or indirectly, exchanges all of its Common Stock for substantially similar equity securities of a newly formed
holding company (“New Holdco”), the Investor shall, in connection with such Reorganization, exchange all of its Lock-Up Shares for substantially similar equity securities of New Holdco and,
upon such exchange, the Investor shall cease to be a holder of its Lock-Up Shares. Upon the occurrence of a Reorganization, either (a) New Holdco shall assume all obligations of the Company under this
Agreement and all references herein to the Company and its Lock-Up Shares (or terms of similar import) would be deemed changed mutatis mutandis to reflect the issuance of the substantially similar
equity securities of New Holdco by New Holdco and their attendant rights, privileges, covenants and restrictions and the assumption of this Agreement or (b) the Investor and New Holdco shall enter into a new agreement based on terms that are no
less favorable to the Investor than the terms set forth in this Agreement. The Investor agrees to execute any agreements, documents or other instruments in connection with the Reorganization that are reasonably necessary and/or proper to consummate
the Reorganization. 
 Section 11. Miscellaneous Provisions. 

11.1. Governing Law; Jurisdiction; Waiver of Jury Trial. 

(a) This Agreement and all matters, claims or Actions (whether at Law, in equity, in Contract, in tort or otherwise) based upon, arising out
of or relating to this Agreement, execution or performance of this Agreement, shall be governed by, and construed in accordance with, the Laws of the State of Delaware applicable to contracts executed in and to be performed entirely within that
State, regardless of the Laws that might otherwise govern under any applicable conflict of Laws principles. 
 (b) All Actions arising out
of or relating to this Agreement shall be heard and determined in the Chancery Court of the State of Delaware (or, if the Chancery Court of the State of Delaware declines to accept jurisdiction over any Action, any state or federal court within the
State of Delaware) and the Parties hereby irrevocably submit to the exclusive jurisdiction and venue of such courts in any such Action and irrevocably waive the defense of an inconvenient forum or lack of jurisdiction to the maintenance of any such
Action. The consents to jurisdiction and venue set forth in this Section 11.1 shall not constitute general consents to service of process in the State of Delaware and shall have no effect for any purpose except as provided
in this paragraph and shall not be deemed to confer rights on any Person other than the Parties. Each Party hereto agrees that service of process upon such Party in any Action arising out of or relating to this Agreement shall be effective if notice
is given by overnight courier at the address set forth in Section 11.5. The Parties agree that a final judgment in any such Action shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in
any other manner provided by applicable Law; provided, however, that nothing in the foregoing shall restrict any Party’s rights to seek any post-judgment relief regarding, or any appeal from, a final trial court judgment. 

(c) EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND
DIFFICULT ISSUES, AND THEREFORE IT HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY 

  
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IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT AND ANY OF THE AGREEMENTS DELIVERED IN CONNECTION HEREWITH OR THE TRANSACTIONS CONTEMPLATED HEREBY
OR THEREBY. EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT (A) NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE
FOREGOING WAIVER, (B) IT UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF SUCH WAIVER, (C) IT MAKES SUCH WAIVER VOLUNTARILY AND (D) IT HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVER AND
CERTIFICATIONS IN THIS SECTION 11.1(c). 
 11.2. Amendment. 

(a) Except as otherwise expressly set forth herein, this Agreement may only be modified or amended, and provisions hereof may be waived, by an
instrument in writing duly executed and delivered by the Parties. Upon obtaining such approvals required by this Agreement, each of the Parties may execute the relevant amendment, restatement, modification or waiver of this Agreement and shall be
deemed a party to and bound by such amendment, restatement, modification or waiver of this Agreement. 
 (b) If this Agreement is amended
solely to reflect the substitution of the Investor, in accordance with the terms hereof, such amendment to this Agreement shall be sufficient when it is signed by the Company, the Investor and by the Person to be substituted. 

11.3. Termination. 
 This
Agreement shall terminate automatically upon the dissolution of the Company; provided that any Reorganization or any other action taken pursuant to Section 9 shall not constitute a dissolution of the Company for
purposes of this Section 11.3; provided, further, that (a) the provisions of this Section 11 shall survive such termination and (b) such termination shall not relieve any
Party from any liability for the breach of any obligations set forth in this Agreement prior to such termination. 
 11.4. Transfer of Lock-Up Shares. 
 Upon the Transfer of all Lock-Up Shares
held by the Investor, the Investor shall cease to be a party to this Agreement and shall have no further rights and obligations hereunder, except with respect to the Investor’s indemnification rights and obligations under
Section 4 with respect to indemnifiable matters occurring prior to the date on which Investor Transfers all of the Lock-Up Shares held by it, it being understood that such Transfer
shall not relieve the Investor or the Company from any liability for the breach of any obligations set forth in this Agreement prior to such Transfer. 

11.5. Notices. All notices, requests and other communications to any Party hereunder shall be in writing and shall be deemed
given if delivered personally, emailed (which is confirmed) or sent by overnight courier (providing proof of delivery) to the Parties at the following addresses: 

  
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 (a) If to the Company, to it at: 

ADT Inc. 

1501 Yamato Road 

Boca Raton, FL, 33431 

Attention: Chief Legal Officer 

Email: dsmail@adt.com 

with a copy (which shall not constitute notice) to: 

Cravath, Swaine & Moore LLP 

Worldwide Plaza 

825 Eighth Avenue 

New York, New York 10019 

Attention:   Robert I. Townsend, III 

                   O. Keith
Hallam, III 

                   Sanjay Murti

 Email:        RTownsend@cravath.com 

                   
KHallam@cravath.com 

                   
SMurti@cravath.com 
 (b) If to the Investor, to it at: 

State Farm Fire & Casualty Company 

One State Farm Plaza 

Bloomington, Illinois 61710 

Attention: Steve McManus, SVP & General Counsel 

Email:     steve.mcmanus.benm@statefarm.com 

with a copy (which shall not constitute notice) to: 

Sidley Austin LLP 

One South Dearborn Street 

Chicago, Illinois 60603 

Attention: Pran Jha 

                 Joseph P. Michaels 

Email:      Pjha@sidley.com 

                 
Joseph.Michaels@sidley.com 
 or such other address or email address as such Party may hereafter specify by like notice to the other Party. All such notices,
requests and other communications shall be deemed received on the date of actual receipt by the recipient thereof if received prior to 5:00 p.m. local time in the place of receipt and such day is a Business Day in the place of receipt.
Otherwise, any such notice, request or communication shall be deemed not to have been received until the next succeeding Business Day in the place of receipt. 

  
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 11.6. Specific Performance. 

The Parties agree that irreparable damage for which monetary relief, even if available, would not be an adequate remedy, would occur in the
event that any provision of this Agreement is not performed in accordance with its specific terms or is otherwise breached. The Parties acknowledge and agree that (a) the Parties shall be entitled to an injunction or injunctions, specific
performance or other equitable relief to prevent breaches of this Agreement and to enforce specifically the terms and provisions hereof in the courts described in Section 11.1 without proof of damages or otherwise, this
being in addition to any other remedy to which they are entitled under this Agreement and (b) the right of specific enforcement is an integral part of the transactions contemplated hereby and without that right, neither the Company nor the
Investor would have entered into this Agreement. The Parties agree not to assert that a remedy of specific enforcement is unenforceable, invalid, contrary to Law or inequitable for any reason, and agree not to assert that a remedy of monetary
damages would provide an adequate remedy or that the Parties otherwise have an adequate remedy at Law. The Parties acknowledge and agree that any Party seeking an injunction or injunctions to prevent breaches of this Agreement and to enforce
specifically the terms and provisions of this Agreement in accordance with this Section 11.6 shall not be required to provide any bond or other security in connection with any such order or injunction. 

11.7. Treatment of Certain Transfers. 

Any Transfer or attempted Transfer in breach of this Agreement shall be void ab initio and of no effect. In connection with any
attempted Transfer in breach of this Agreement, the Company may hold and refuse to transfer any Lock-Up Shares or any certificate therefor, in addition to and without prejudice to any and all other rights or
remedies which may be available to it and/or the Investor. 
 11.8. Counterparts. 

This Agreement may be executed in one or more counterparts (including by electronic mail), each of which shall be deemed to be an original but
all of which taken together shall constitute one and the same agreement, and shall become effective when one or more counterparts have been signed by each of the Parties (including by electronic signature) and delivered to the other Party (including
electronically, e.g., in PDF format). 
 11.9. Severability. 

If any term, condition or other provision of this Agreement is determined by a court of competent jurisdiction to be invalid, illegal or
incapable of being enforced by any rule of Law or public policy, all other terms, provisions and conditions of this Agreement shall nevertheless remain in full force and effect. Upon such determination that any term, condition or other provision is
invalid, illegal or incapable of being enforced, the Parties shall negotiate in good faith to modify this Agreement so as to effect the original intent of the Parties as closely as possible to the fullest extent permitted by applicable Law. 

  
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 11.10. Further Efforts. 

Each party hereto shall do and perform or cause to be done and performed, without further consideration, all such further acts and things and
shall execute and deliver all such other agreements, certificates, instruments, and documents as the other Party may reasonably request in order to carry out the provisions of this Agreement and to consummate the transactions contemplated hereby.

 11.11. Extension of Time, Waiver, Etc. 

The Parties may, subject to applicable Law, (a) extend the time for the performance of any of the obligations or acts of the other Party
or (b) waive compliance by the other Party with any of the agreements contained herein applicable to such Party or, except as otherwise provided herein, waive any of such Party’s conditions. Notwithstanding the foregoing, no failure or
delay by any Party in exercising any right hereunder shall operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right hereunder. Any agreement on the
part of a Party to any such extension or waiver shall be valid only if set forth in an instrument in writing signed on behalf of such Party. 

11.12. Entire Agreement; No Third-Party Beneficiaries. 

This Agreement constitutes the entire agreement, and supersedes all other prior agreements and understandings, both written and oral, among
the Parties and their Affiliates, or any of them, with respect to the subject matter hereof and thereof. No provision of this Agreement shall confer upon any Person other than the Parties and their permitted assigns any rights or remedies hereunder,
except that Section 11.14 shall be for the benefit of, and enforceable by, each of the Related Parties. 
 11.13.
No Personal Liability. 
 To the fullest extent permitted by Law, no director of the Company or its Subsidiaries shall be personally
liable to the Company or the Investor as a result of any acts or omissions taken under this Agreement in good faith. 
 11.14. Non-Recourse. 
 Each party hereto agrees, on behalf of itself and its Affiliates, that all Actions,
claims, obligations, liabilities or causes of action (whether in Contract or in tort, in Law or in equity or otherwise, or granted by statute or otherwise, whether by or through attempted piercing of the corporate, limited partnership or limited
liability company veil or any other theory or doctrine, including alter ego or otherwise) that may be based upon, in respect of, arise under, out of or by reason of, be connected with, or relate in any manner to: (a) this Agreement, any other
agreement referenced herein or the transactions contemplated hereby or thereby, (b) the negotiation, execution or performance of this Agreement or any other agreement referenced herein (including any representation or warranty made in, in
connection with, or as an inducement to, this Agreement or such other agreement), (c) any breach or violation of this Agreement or any other agreement referenced herein, and (d) any failure of the transactions

  
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contemplated hereby or under any other agreement referenced herein to be consummated, in each case, may be made only against (and are those solely of) the Persons that are expressly identified as
parties to this Agreement or, in the case of the other agreements referenced herein, the persons that are expressly named as parties thereof, and, in accordance with, and subject to the terms and conditions of, this Agreement or such other agreement
referenced herein, as applicable. In furtherance and not in limitation of the foregoing, each party hereto covenants, agrees and acknowledges, on behalf of itself and its respective Affiliates, that no recourse under this Agreement, any other
agreement referenced herein or the transactions contemplated hereby or thereby shall be sought or had against any other Person, and no other Person shall have any liabilities or obligations (whether in Contract or in tort, in Law or in equity or
otherwise, or granted by statute or otherwise, whether by or through attempted piercing of the corporate, limited partnership or limited liability company veil or any other theory or doctrine, including alter ego or otherwise) for any claims, causes
of action, obligations or liabilities arising under, out of, in connection with or related in any manner to the items in clauses (a) through (d) of the immediately preceding sentence, it being expressly agreed and acknowledged that no
personal liability or losses whatsoever shall attach to, be imposed on or otherwise be incurred by any of the aforementioned, as such, arising under, out of, in connection with or related in any manner to the items in clauses (a) through
(d) of the immediately preceding sentence. Notwithstanding anything to the contrary herein or otherwise, except as contemplated in the proviso of the first sentence of this Section 11.14, with respect to each party
hereto, no past, present or future director, manager, officer, employee, incorporator, member, partner, shareholder, agent, attorney, advisor, lender or Representative or Affiliate of such named party (the “Related Parties”) shall
be responsible or liable for any multiple, consequential, indirect, special, statutory, exemplary or punitive damages which may be alleged as a result of this Agreement, any other agreement referenced herein or the transactions contemplated hereby
or thereby, or the valid termination or abandonment of any of the foregoing. 
 11.15. No Partnership Status. 

Nothing in this Agreement and no actions taken by the Parties under this Agreement shall constitute a partnership, association or other co-operative entity between any of the Parties or constitute any Party the agent of any other Party for any purpose. 

11.16. Binding Effect. 

This Agreement shall be binding upon the Company, the Investor and permitted successors and assigns of the Investor. 

11.17. Further Acknowledgements. 

The Investor acknowledges and agrees that the restrictions on transfer set forth in this Agreement are reasonable and have been imposed to
accomplish legitimate corporate objectives and may adversely affect the proceeds received by the Investor in any sale, transfer or liquidation of any Lock-Up Shares, and as a result of such restrictions on
transfer and ownership, it may not be possible for the Investor to liquidate all or any part of the Investor’s interest in Lock-Up Shares at the time of the Investor’s choosing, in exigent
circumstances or otherwise. The Investor further acknowledges and agrees that each of the Company, TopCo Parent and their respective Affiliates shall have no liability whatsoever to the Investor arising from, relating to or in connection with the
restrictions on transfer of Lock-Up Shares or any interest therein as set forth in this Agreement, except to the extent the Company fails to comply with its obligations to the Investor pursuant to this
Agreement or any of the other Transaction Documents. 

  
 37 

 11.18. Interpretation. 

(a) When a reference is made in this Agreement to an Article, a Section, Annex, Exhibit or Schedule, such reference shall be to an Article of,
a Section of, or an Annex, Exhibit or Schedule to, this Agreement unless otherwise indicated. The table of contents and headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or
interpretation of this Agreement. Whenever the words “include”, “includes” or “including” are used in this Agreement, they shall be deemed to be followed by the words “without limitation”. The words
“hereof”, “herein” and “hereunder” and words of similar import when used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement. The words “date
hereof” when used in this Agreement shall refer to the date of this Agreement. The terms “or”, “any” and “either” are not exclusive. The word “extent” in the phrase “to the extent” shall mean
the degree to which a subject or other thing extends, and such phrase shall not mean simply “if”. The word “will” shall be construed to have the same meaning and effect as the word “shall”. The definitions contained in
this Agreement are applicable to the singular as well as the plural forms of such terms and to the masculine as well as to the feminine and neuter genders of such term. In the event that the Common Stock is listed on a national securities exchange
other than the NYSE, all references herein to the NYSE shall be deemed to be references to such other national securities exchange. Any agreement, instrument or statute defined or referred to herein or in any agreement or instrument that is referred
to herein means such agreement, instrument or statute as from time to time amended, modified or supplemented, including (in the case of agreements or instruments) by waiver or consent and (in the case of statutes) by succession of comparable
successor statutes and references to all attachments thereto and instruments incorporated therein. Unless otherwise specifically indicated, all references to “dollars” or “$” shall refer to the lawful money of the United States.
References to a Person are also to its permitted assigns and successors. When calculating the period of time between which, within which or following which any act is to be done or step taken pursuant to this Agreement, the date that is the
reference date in calculating such period shall be excluded (and unless if otherwise required by Law, if the last day of such period is not a Business Day, the period in question shall end on the next succeeding Business Day). 

(b) The Parties have participated jointly in the negotiation and drafting of this Agreement and, in the event an ambiguity or question of
intent or interpretation arises, this Agreement shall be construed as jointly drafted by the Parties and no presumption or burden of proof shall arise favoring or disfavoring any Party by virtue of the authorship of any provision of this Agreement.

  
 38 

 11.19. Assignment. 

Except as expressly set forth herein, neither this Agreement nor any of the rights, interests or obligations hereunder shall be assigned, in
whole or in part, by operation of Law or otherwise, by any of the parties hereto without the prior written consent of the other party hereto. 

[Remainder of page intentionally left blank] 

  
 39 

 This Agreement is executed by the Company and the Investor to be effective as of the date
first above written. 
  

			
	COMPANY
	
	ADT INC.
		
	By:	 	         

		 	Name:
		 	Title:

 Signature Page to Investor Rights Agreement 

 
			
	INVESTOR
	
	STATE FARM FIRE & CASUALTY COMPANY
		
	By:	 	     

		 	Name:
		 	Title:

 Signature Page to Investor Rights Agreement 

 Exhibit A – Select Terms and Conditions of the Offer 

Upon the terms and subject to the conditions of the Offer, the Company will offer to purchase up to 133,333,333 shares of Common Stock and
Class B Common Stock at a purchase price of $9.00 per share in cash, less any applicable withholding taxes and without interest, which represents $1.2 billion. 

The Offer will not be conditioned on any minimum number of shares being tendered. The Offer will, however, be subject to other conditions,
including the completion of the Purchase (the “Strategic Investment Condition”). 
 Notwithstanding any other provision of
the Offer, the Company will not be required to accept for payment, purchase or pay for any shares tendered, and may terminate or amend the Offer or may postpone the acceptance for payment of, or the purchase of and the payment for shares tendered,
subject to Rule 13e-4(f) under the Exchange Act, if at any time on or after the commencement of the Offer and before or at the expiration time of the Offer any of the following events occur (or shall have been
reasonably determined by the Company to have occurred): 
  

	 	•	 	 the failure to satisfy the Strategic Investment Condition; 

 

	 	•	 	 there has been enacted, issued or promulgated any law or order by any government or governmental, regulatory or
administrative agency, authority or tribunal of competent and applicable jurisdiction that: 

  

	 	•	 	 makes illegal, or which has the effect of prohibiting or otherwise preventing, the making of the Offer or the
acquisition by the Company of some or all of the shares pursuant to the Offer; or 

  

	 	•	 	 makes illegal the purchase of, or payment of, some or all of the shares pursuant to the Offer or has the effect
of prohibiting or preventing the Company’s ability to accept for payment or pay for some or all of the shares; 

  

	 	•	 	 the declaration of a banking moratorium or any suspension of payments in respect of banks in the United States,
whether or not mandatory; 

  

	 	•	 	 any statute, rule, regulation, judgment, decree, injunction or order (preliminary, permanent or otherwise) has
been enacted, entered, promulgated or enforced in respect of the Offer or the Company or any of its subsidiaries by any court, government or governmental agency or other regulatory or administrative authority of competent and applicable
jurisdiction, domestic or foreign, which prevents or prohibits the consummation of the Offer; or 

  

	 	•	 	 the Company shall have determined that the consummation of the Offer and the purchase of the shares may cause the
shares to be delisted from the NYSE or held of record by fewer than 300 persons.EX-10.2

 Exhibit 10.2 

TENDER AND SUPPORT AGREEMENT 

This TENDER AND SUPPORT AGREEMENT is made as of September 5, 2022 (this “Agreement”) by and between (a) ADT Inc.,
a Delaware corporation, and (b) Prime Security Services TopCo (ML), L.P., a Delaware limited partnership, and Prime Security Services TopCo (ML II), L.P., a Delaware limited partnership (each, a “Majority Stockholder” and,
collectively, the “Majority Stockholders”). 
 WHEREAS, each Majority Stockholder is, as of the date hereof, the
record and beneficial owner (as defined in Rule 13d-3 under the Securities Exchange Act of 1934, as amended (including the rules and regulations and published interpretations promulgated thereunder, the
“Exchange Act”)), of the number of shares of common stock (“Common Stock”), par value $0.01 per share, of ADT Inc., a Delaware corporation (the “Company”), set forth opposite the name of such
Majority Stockholder on Schedule I hereto; 
 WHEREAS, contemporaneously with the execution of this Agreement, the Company and
State Farm Fire & Casualty Company, an Illinois stock insurance company (the “Investor”), are entering into that certain Securities Purchase Agreement dated as of the date hereof (as it may be amended from time to time, the
“Purchase Agreement”), which provides, among other things, (a) for the Company to issue, sell and deliver to the Investor, and the Investor to purchase and acquire from the Company, 133,333,333 shares of Common Stock (the
“Issued Shares”) at a price of $9.00 per share (the “Purchase Price”) and (b) for the Company to commence a cash tender offer on the terms and conditions to be set forth in the Offer to Purchase (the
“Offer”) to acquire up to a number of shares equal to the number of Issued Shares (the “Maximum Amount”) at a price per share equal to the Purchase Price (the “Offer Price”); 

WHEREAS, as a condition and material inducement to the willingness of the Company to enter into the Purchase Agreement, each of the
Majority Stockholders, severally and not jointly (and solely in such Majority Stockholder’s capacity as a holder of the Owned Shares (as defined below)), has agreed to enter into this Agreement; and 

WHEREAS, capitalized terms in this Agreement and not defined have the meanings given to such terms in the Purchase Agreement. 

NOW, THEREFORE, in consideration of the foregoing and the mutual covenants and agreements set forth herein, and intending to be legally
bound hereby, the parties hereby agree as follows: 
 SECTION 1. Representations and Warranties of the Majority Stockholders. 

Each Majority Stockholder hereby represents and warrants to the Company as follows: 

(a) As of the date hereof, such Majority Stockholder is the beneficial owner of the shares of Common Stock (the “Owned
Shares”) set forth opposite such Majority Stockholder’s name on Schedule I to this Agreement under the heading “Owned Shares”. 
  

 (b) Such Majority Stockholder (i) is a limited partnership duly formed and validly
existing and in good standing under the Laws of the jurisdiction of its organization, (ii) has all necessary power and authority to execute and deliver this Agreement and to perform its obligations hereunder and to consummate the transactions
contemplated hereby and (iii) has taken all necessary limited partnership action to authorize and approve the execution, delivery and performance of this Agreement and the consummation of the transactions contemplated hereby. 

(c) This Agreement has been duly executed and delivered by such Majority Stockholder and, assuming due authorization, execution and delivery of
this Agreement by the Company, constitutes a legal, valid and binding obligation of such Majority Stockholder, enforceable against such Majority Stockholder in accordance with its terms, subject to the Bankruptcy and Equity Exception. 

(d) Neither the execution and delivery of this Agreement by such Majority Stockholder nor the consummation by such Majority Stockholder of the
transactions contemplated hereby, nor the performance or compliance by such Majority Stockholder of the terms and provisions hereof, will (i) violate any Law or Judgment applicable to such Majority Stockholder or (ii) violate or constitute
a default (or constitute an event which, with notice or lapse of time or both, would violate or constitute a default) under, or result in the creation of any lien, encumbrance, equity or claim (each, an “Encumbrance”) on any of the
Owned Shares, pursuant to any of the terms, conditions or provisions of any Contract to which such Majority Stockholder is party or accelerate such Majority Stockholder’s obligations under any such Contract. Except for filings required under,
and compliance with other applicable requirements of, the Exchange Act, no consent or approval of, or filing, license, permit or authorization, declaration or registration with, any Governmental Authority is necessary for the execution and delivery
of this Agreement, other than such other consents, approvals, filings, licenses, permits or authorizations, declarations or registrations that, if not obtained, made or given, would not, individually or in the aggregate, prevent or materially delay
or materially impair the performance by such Majority Stockholder of any of its obligations under this Agreement. 
 (e) The
Subject Shares (as defined below) beneficially owned by such Majority Stockholder are now, and at all times during the term hereof will be (except for the Subject Shares transferred in accordance with this Agreement and accepted for payment pursuant
to the Offer), held beneficially and either as of record by such Majority Stockholder or by a nominee or custodian for the benefit of such Majority Stockholder, free and clear of all Encumbrances, except for (i) any such Encumbrances arising
hereunder (in connection therewith any restrictions on transfer or any other Encumbrances have been waived by appropriate consent), (ii) Encumbrances imposed by federal or state securities Laws and (iii) any Encumbrances set forth on
Schedule II to this Agreement (collectively, “Permitted Encumbrances”). 
 (f) Such Majority Stockholder understands
and acknowledges that the Company is entering into the Purchase Agreement in reliance upon such Majority Stockholder’s execution, delivery and performance of this Agreement. 

  
 2 

 (g) With respect to such Majority Stockholder, as of the date hereof, there is no Action
pending against, or, to the actual knowledge of such Majority Stockholder, threatened in writing against such Majority Stockholder or any of such Majority Stockholder’s properties or assets (including the Subject Shares) before or by any
Governmental Authority that would reasonably be expected to prevent or materially delay or materially impair the consummation by such Majority Stockholder of the transactions contemplated by this Agreement or otherwise materially impair such
Majority Stockholder’s ability to perform its obligations hereunder. 
 SECTION 2. Representations and Warranties of the
Company. The Company hereby represents and warrants to the Majority Stockholders as follows: 
 (a) The Company is a corporation duly
organized and validly existing and in good standing under the Laws of the jurisdiction of its organization. 
 (b) The Company has all
necessary power and authority to execute and deliver this Agreement and to perform its obligations hereunder and to consummate the transactions contemplated hereby, and has taken all necessary corporate or similar action to authorize and approve the
execution, delivery and performance of this Agreement and the consummation of the transactions contemplated hereby. 
 (c) This Agreement has
been duly executed and delivered by the Company and, assuming due authorization, execution and delivery of this Agreement by each Majority Stockholder, constitutes a legal, valid and binding obligation of the Company, enforceable against the Company
it in accordance with its terms, subject to the Bankruptcy and Equity Exception. 
 (d) Neither the execution and delivery of this Agreement
by the Company nor the consummation by the Company of the transactions contemplated hereby, nor the performance or compliance by the Company of the terms and provisions hereof, will (i) violate any Law or Judgment applicable to the Company or
(ii) violate or constitute a default (or constitute an event which, with notice or lapse of time or both, would violate or constitute a default) under any of the terms, conditions or provisions of any Contract to which the Company is party or
accelerate the Company’s obligations under any such Contract. Except for filings required under, and compliance with other applicable requirements of, the Exchange Act, no consent or approval of, or filing, license, permit or authorization,
declaration or registration with, any Governmental Authority is necessary for the execution and delivery of this Agreement, other than such other consents, approvals, filings, licenses, permits or authorizations, declarations or registrations that,
if not obtained, made or given, would not, individually or in the aggregate, prevent or materially delay or materially impair the performance by the Company of any of its obligations under this Agreement. 

  
 3 

 SECTION 3. Tender of the Subject Shares. 

(a) Subject to the terms of this Agreement, each Majority Stockholder agrees to tender or cause to be tendered in the Offer at least the number
of shares of Common Stock set forth opposite such Majority Stockholder’s name on Schedule I to this Agreement under the heading “Subject Shares” (such shares tendered pursuant to this Section 3(a), the
“Subject Shares”) pursuant to and in accordance with the terms of the Offer as set forth in the Purchase Agreement and to be set forth in the Offer to Purchase, free and clear of all Encumbrances except for Permitted Encumbrances.

 (b) Each Majority Stockholder agrees that once such Majority Stockholder’s Subject Shares are tendered, such Majority Stockholder
will not withdraw such Subject Shares from the Offer unless and until this Agreement has been terminated in accordance with Section 5, in which case such Majority Stockholder may elect to withdraw from the Offer all or some
of the Subject Shares. 
 (c) Each Majority Stockholder acknowledges and agrees that the Company’s obligation to accept for payment
shares of the Common Stock tendered into the Offer, including any Subject Shares tendered by such Majority Stockholder, is subject to the terms and conditions of the Offer to be set forth in the Offer to Purchase. 

(d) If the Offer is terminated or withdrawn by the Company, or the Purchase Agreement is terminated prior to the purchase of the Subject Shares
in the Offer, the Company shall, and shall cause the depository agent in the Offer to, promptly (and in no event later than two (2) Business Days) return all tendered Subject Shares to the applicable Majority Stockholder. 

(e) The Company acknowledges and agrees that it shall use the proceeds from the issuance and sale of the Issued Shares under the Purchase
Agreement to finance the Offer. 
 SECTION 4. Further Assurances. Each party shall execute and deliver any additional documents and
take such further actions as may be reasonably necessary to carry out all of the provisions hereof, including all of the parties’ obligations under this Agreement. 

SECTION 5. Termination. 

(a) This Agreement shall terminate automatically as of the earliest to occur of: (i) the termination of the Purchase Agreement in
accordance with its terms; (ii) the consummation of the Offer; (iii) such time as any modification, waiver or amendment to the Purchase Agreement (including the terms of the Offer set forth therein), as in effect as of the date hereof, is
effected without the Majority Stockholders’ prior written consent that (A) reduces the Offer Price or the Maximum Amount, (B) changes the form of consideration in the Offer, (C) in any manner delays, interferes with, hinders or
impairs the consummation of the Offer in any material respect, including as a result of any additions or amendments to or modifications or waivers of any of the conditions set forth in Exhibit B to the Purchase Agreement not otherwise permitted
therein, (D) extends or otherwise changes the expiration time of the Offer (the “Expiration Time”) other than (x) if, at the then-scheduled Expiration Time, any of the conditions to the Offer (other than those conditions
that by their terms are to be satisfied at the consummation of the Offer) has not been satisfied, or (y) as required by any Law that is applicable to the Offer; provided that in no event shall the Offer be extended to a date that is more
than five (5) Business Days after than the Termination Date, or (E) otherwise adversely affects the Majority Stockholders in any material respect; and (iv) the mutual written consent of the parties hereto. 

  
 4 

 (b) Upon termination of this Agreement, no party shall have any further obligations or
liabilities under this Agreement; provided, however, that (i) nothing set forth in this Section 5 shall relieve any party from liability for Fraud or willful and material breach of this Agreement prior to
termination hereof (for purposes of this Agreement, the reference to “this Agreement or any Transaction Document” in the definition of “Fraud” in the Purchase Agreement shall be deemed to be a reference to this Agreement) and
(ii) this Section 5, Section 6 and Section 9 hereof shall survive the termination of this Agreement. 

SECTION 6. Expenses. All fees and expenses incurred in connection this Agreement and the transactions contemplated hereby shall be paid
by the party incurring such fees or expenses, whether or not the Offer is consummated. 
 SECTION 7. Public Disclosure. 

(a) Each Majority Stockholder hereby: (i) consents to and authorizes the publication and disclosure by the Company (including in the
Schedule TO or any other publicly filed documents relating to the Offer or any other transaction contemplated by the Purchase Agreement) of (A) such Majority Stockholder’s identity, (B) such Majority Stockholder’s ownership of
the Owned Shares and (C) the nature of such Majority Stockholder’s commitments, arrangements and understandings under this Agreement, including with respect to such Majority Stockholder’s commitment to tender its Subject Shares in the
Offer (including filing this Agreement as an exhibit to any publicly filed documents relating to the Offer or any other transaction contemplated by the Purchase Agreement), and any other information that the Company determines to be necessary in any
SEC disclosure document in connection with the Offer or any of the other transactions contemplated by the Purchase Agreement; and (ii) agrees as promptly as practicable to notify the Company of any required corrections with respect to any
written information supplied by such Majority Stockholder specifically for use in any such disclosure document, if and to the extent that any such information shall have become false or misleading in any material respect. The Majority Stockholder
and their counsel shall be given a reasonable opportunity to review and comment upon the Offer to Purchase and any amendments and supplements thereto, and any other SEC disclosure document in connection with the Offer, prior to filing such documents
with the SEC or dissemination of such documents to the stockholders of the Company and the Company shall give reasonable and good faith consideration to any comments made by the Majority Stockholders and their counsel. 

(b) The Company shall use reasonable efforts to cause the Offer to Purchase, and all other documents relating to the Offer that the Company may
prepare, to comply in all material respects with the applicable requirements of the Exchange Act and the Securities Act, as applicable, and the rules and regulations thereunder. 

  
 5 

 SECTION 8. Adjustments. In the event that, between the date of this Agreement and the
consummation of the Offer, the outstanding shares of Common Stock are changed into a different number or class of shares by reason of any stock split, reverse stock split, stock dividend (including any dividend or other distribution of securities
convertible into Common Stock), reorganization, recapitalization, reclassification, combination, exchange of shares or other like change with respect to Common Stock, and the Offer Price is adjusted pursuant to the Purchase Agreement as a result
therefrom, each reference to a number of shares or a price per share shall be deemed to be amended to appropriately account for such event to provide the Company and each Majority Stockholder the same economic effect as contemplated by this
Agreement prior to such action. 
 SECTION 9. Miscellaneous. 

(a) Amendments; Waivers. Subject to compliance with applicable Law, this Agreement may not be amended or supplemented in any and all
respects without the written consent of the parties hereto. 
 (b) Extension of Time, Waiver, Etc. The parties hereto may, subject to
applicable Law, (a) waive any inaccuracies in the representations and warranties of the other party contained herein or in any document delivered pursuant hereto, (b) extend the time for the performance of any of the obligations or acts of
the other party or (c) waive compliance by the other party with any of the agreements contained herein applicable to such party. Notwithstanding the foregoing, no failure or delay by the Company or the Majority Stockholders in exercising any
right hereunder shall operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right hereunder. Any agreement on the part of a party hereto to any such
extension or waiver shall be valid only if set forth in an instrument in writing signed on behalf of such party. 
 (c) No Survival of
Representations and Warranties. None of the representations and warranties contained in this Agreement or schedule or other document delivered pursuant to this Agreement shall survive the consummation of the Offer. 

(d) Assignment. Neither this Agreement nor any of the rights, interests or obligations hereunder shall be assigned, in whole or in part,
by operation of Law or otherwise, by any of the parties hereto without the prior written consent of the other party hereto. 
 (e)
Counterparts. This Agreement may be executed in one or more counterparts (including by electronic mail), each of which shall be deemed to be an original but all of which taken together shall constitute one and the same agreement, and shall
become effective when one or more counterparts have been signed by each of the parties hereto (including by electronic signature) and delivered to the other parties hereto (including electronically, e.g., in PDF format). 

(f) Entire Agreement; Third-Party Beneficiaries. This Agreement constitutes the entire agreement, and supersedes all other prior
agreements and understandings, both written and oral, among the parties and their Affiliates, or any of them, with respect to the subject matter hereof. No provision of this Agreement shall confer upon any Person other than the parties hereto and
their permitted assigns any rights or remedies hereunder; provided that Section 9(m) shall be for the benefit of, and enforceable by, each of the Related Parties. 

(g) Governing Law; Jurisdiction. 

  
 6 

 (i) This Agreement and all matters, claims or Actions (whether at law, in equity, in
Contract, in tort or otherwise) based upon, arising out of or relating to this Agreement, execution or performance of this Agreement, shall be governed by, and construed in accordance with, the laws of the State of Delaware applicable to contracts
executed in and to be performed entirely within that State, regardless of the laws that might otherwise govern under any applicable conflict of Laws principles. 

(ii) All Actions arising out of or relating to this Agreement shall be heard and determined in the Chancery Court of the State of Delaware
(or, if the Chancery Court of the State of Delaware declines to accept jurisdiction over any Action, any state or federal court within the State of Delaware) and the parties hereto hereby irrevocably submit to the exclusive jurisdiction and venue of
such courts in any such Action and irrevocably waive the defense of an inconvenient forum or lack of jurisdiction to the maintenance of any such Action. The consents to jurisdiction and venue set forth in this Section 9(g)
shall not constitute general consents to service of process in the State of Delaware and shall have no effect for any purpose except as provided in this paragraph and shall not be deemed to confer rights on any Person other than the parties hereto.
Each party hereto agrees that service of process upon such party in any Action arising out of or relating to this Agreement shall be effective if notice is given by overnight courier at the address set forth in
Section 9(j). The parties hereto agree that a final judgment in any such Action shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by applicable Law;
provided, however, that nothing in the foregoing shall restrict any party’s rights to seek any post-judgment relief regarding, or any appeal from, a final trial court judgment. 

(h) Specific Enforcement. The parties hereto agree that irreparable damage for which monetary relief, even if available, would not be an
adequate remedy, would occur in the event that any provision of this Agreement is not performed in accordance with its specific terms or is otherwise breached, including if the parties hereto fail to take any action required of them hereunder to
consummate the transactions contemplated by this Agreement, and that time is of the essence. The parties acknowledge and agree that (a) the parties shall be entitled to an injunction or injunctions, specific performance or other equitable
relief to prevent breaches of this Agreement and to enforce specifically the terms and provisions hereof (in the courts described in Section 9(g) without proof of damages or otherwise, this being in addition to any other
remedy to which they are entitled under this Agreement) and (b) the right of specific enforcement is an integral part of the transactions contemplated by this Agreement and without that right, the parties hereto would not have entered into this
Agreement. The parties hereto agree not to assert that a remedy of specific enforcement is unenforceable, invalid, contrary to Law or inequitable for any reason, and agree not to assert that a remedy of monetary damages would provide an adequate
remedy or that the parties otherwise have an adequate remedy at law. The parties hereto acknowledge and agree that any party seeking an injunction or injunctions to prevent breaches of this Agreement and to enforce specifically the terms and
provisions of this Agreement in accordance with this Section 9(h) shall not be required to provide any bond or other security in connection with any such order or injunction. 

  
 7 

 (i) WAIVER OF JURY TRIAL. EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY
WHICH MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE IT HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY
IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT AND ANY OF THE AGREEMENTS DELIVERED IN CONNECTION HEREWITH OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY. EACH PARTY CERTIFIES AND ACKNOWLEDGES
THAT (A) NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER, (B) IT UNDERSTANDS AND HAS
CONSIDERED THE IMPLICATIONS OF SUCH WAIVER, (C) IT MAKES SUCH WAIVER VOLUNTARILY AND (D) IT HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVER AND CERTIFICATIONS IN THIS SECTION 9(i). 

(j) Notices. All notices, requests and other communications to any party hereunder shall be in writing and shall be deemed given if
delivered personally, emailed (which is confirmed) or sent by overnight courier (providing proof of delivery) to the parties at the following addresses: 
  

	 	(a)	 If to the Company, to: 

ADT Inc. 
 1501 Yamato Road 

Boca Raton, Florida 33431 

Attention: Chief Legal Officer 

Email:       DSmail@adt.com 

with a copy (which shall not constitute notice) to: 

Cravath, Swaine & Moore LLP 

Worldwide Plaza 
 825 Eighth
Avenue 
 New York, New York 10019 

Attention: Robert I. Townsend, III 

                  O. Keith Hallam, III 

                  Sanjay Murti 

Email:       RTownsend@cravath.com 

                  KHallam@cravath.com 

                  SMurti@cravath.com 

 

	 	(b)	 If to any Majority Stockholder, to: 

Prime Security Services TopCo (ML), L.P., 

Prime Security Services TopCo (ML II), L.P. 

One Manhattanville Road, Suite 201 

  
 8 

 Purchase, New York 10577 

Attention: Marc Becker 

                  Chief Legal Officer 

Email: becker@apollo.com 

                  jsuydam@apollo.com 

with a copy (which shall not constitute notice) to: 

Paul, Weiss, Rifkind, Wharton & Garrison LLP 

1285 Avenue of the Americas 

New York, New York 10019 

Attention: Taurie M. Zeitzer 

                  Justin Rosenberg 

Email:       tzeitzer@paulweiss.com 

                  jrosenberg@paulweiss.com 

or such other address or email address as such party may hereafter specify by like notice to the other parties hereto. All such notices, requests and other
communications shall be deemed received on the date of actual receipt by the recipient thereof if received prior to 5:00 p.m. local time in the place of receipt and such day is a Business Day in the place of receipt. Otherwise, any such notice,
request or communication shall be deemed not to have been received until the next succeeding Business Day in the place of receipt. 
 (k)
Severability. If any term, condition or other provision of this Agreement is determined by a court of competent jurisdiction to be invalid, illegal or incapable of being enforced by any rule of Law or public policy, all other terms,
provisions and conditions of this Agreement shall nevertheless remain in full force and effect. Upon such determination that any term, condition 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 to the fullest extent permitted by applicable Law. 

(l) Interpretation. 
 (i)
When a reference is made in this Agreement to an Article, a Section or Schedule, such reference shall be to an Article of, a Section of, or a Schedule to, this Agreement unless otherwise indicated. The table of contents and headings contained in
this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement. Whenever the words “include”, “includes” or “including” are used in this Agreement, they
shall be deemed to be followed by the words “without limitation”. The words “hereof”, “herein” and “hereunder” and words of similar import when used in this Agreement shall refer to this Agreement as a whole
and not to any particular provision of this Agreement. The words “date hereof” when used in this Agreement shall refer to the date of this Agreement. The terms “or”, “any” and “either” are not exclusive. The
word “extent” in the phrase “to the extent” shall mean the degree to which a subject or other thing extends, and such phrase shall not mean simply “if”. The word “will” shall be construed to have the same
meaning and effect as the word “shall”. The definitions contained in this Agreement are applicable to the singular as well as the plural forms of such terms and to the masculine as well as to the feminine

  
 9 

 
and neuter genders of such term. Any agreement, instrument or statute defined or referred to herein or in any agreement or instrument that is referred to herein means such agreement, instrument
or statute as from time to time amended, modified or supplemented, including (in the case of agreements or instruments) by waiver or consent and (in the case of statutes) by succession of comparable successor statutes and references to all
attachments thereto and instruments incorporated therein. Unless otherwise specifically indicated, all references to “dollars” or “$” shall refer to the lawful money of the United States. References to a Person are also to its
permitted assigns and successors. When calculating the period of time between which, within which or following which any act is to be done or step taken pursuant to this Agreement, the date that is the reference date in calculating such period shall
be excluded (and unless if otherwise required by Law, if the last day of such period is not a Business Day, the period in question shall end on the next succeeding Business Day). 

(ii) The parties hereto have participated jointly in the negotiation and drafting of this Agreement and, in the event an ambiguity or question
of intent or interpretation arises, this Agreement shall be construed as jointly drafted by the parties hereto and no presumption or burden of proof shall arise favoring or disfavoring any party hereto by virtue of the authorship of any provision of
this Agreement. 
 (m) Non-Recourse. Each party hereto agrees, on behalf of itself and its
Affiliates, that all Actions, claims, obligations, liabilities or causes of action (whether in Contract or in tort, in Law or in equity or otherwise, or granted by statute or otherwise, whether by or through attempted piercing of the corporate,
limited partnership or limited liability company veil or any other theory or doctrine, including alter ego or otherwise) that may be based upon, in respect of, arise under, out of or by reason of, be connected with, or relate in any manner to:
(i) this Agreement or the transactions contemplated hereby, (ii) the negotiation, execution or performance of this Agreement or any other agreement referenced herein (including any representation or warranty made in, in connection with, or
as an inducement to, this Agreement or such other agreement), (iii) any breach or violation of this Agreement or any other agreement referenced herein, and (iv) any failure of the transactions contemplated hereby or under any other agreement
referenced herein to be consummated, in each case, may be made only against (and are those solely of) the Persons that are expressly identified as parties to this Agreement or, in the case of the other agreements referenced herein, the persons that
are expressly named as parties thereof, and, in accordance with, and subject to the terms and conditions of, this Agreement or such other agreement referenced herein, as applicable. In furtherance and not in limitation of the foregoing, each party
hereto covenants, agrees and acknowledges, on behalf of itself and its respective Affiliates, that no recourse under this Agreement or in connection with any of the transactions contemplated hereby shall be sought or had against any other Person,
and no other Person shall have any liabilities or obligations (whether in Contract or in tort, in Law or in equity or otherwise, or granted by statute or otherwise, whether by or through attempted piercing of the corporate, limited partnership or
limited liability company veil or any other theory or doctrine, including alter ego or otherwise) for any claims, causes of action, obligations or liabilities arising under, out of, in connection with or related in any manner to the items in clauses
(i) through (iv) of the immediately preceding sentence, it being expressly agreed and acknowledged that no personal liability or losses whatsoever shall attach to, be imposed on or otherwise be incurred by any of the aforementioned, as such,
arising under, out of, in connection 

  
 10 

 
with or related in any manner to the items in clauses (i) through (iv) of the immediately preceding sentence. Notwithstanding anything to the contrary herein or otherwise, except as
contemplated in the proviso of the first sentence of this Section 9(m), with respect to each party hereto, no past, present or future director, manager, officer, employee, incorporator, member, partner, shareholder, agent,
attorney, advisor, lender or Representative or Affiliate of such named party (the “Related Parties”) shall be responsible or liable for any multiple, consequential, indirect, special, statutory, exemplary or punitive damages which
may be alleged as a result of this Agreement or the transactions contemplated hereby, or the valid termination or abandonment of any of the foregoing. 

(n) Capacity as a Stockholder. Each Majority Stockholders signs this Agreement solely in such Majority Stockholder’s capacity as a
stockholder of the Company, and not in any other capacity. Notwithstanding anything herein to the contrary, nothing herein shall in any way restrict a director or officer of the Company in the reasonable exercise of his or her fiduciary duties as a
director or officer of the Company or in his or her capacity as a trustee or fiduciary of any employee benefit plan or trust or prevent or be construed to create any obligation on the part of any director or officer of the Company or any trustee or
fiduciary of any employee benefit plan or trust from taking any action in his or her capacity as such director, officer, trustee or fiduciary. 

(o) No Ownership Interest. Until receipt of payment in full by such Majority Stockholder for all of its Subject Shares pursuant to, and
in accordance with the terms of, the Offer, except as otherwise provided herein, nothing contained in this Agreement shall be deemed to vest in the Company any direct or indirect ownership or incidence of ownership of or with respect to the Subject
Shares. All rights, ownership and economic benefits of and relating to the Subject Shares shall remain vested in and belong to such Majority Stockholder, and the Company shall have no authority to exercise any power or authority to direct such
Majority Stockholder in the voting of any of the Subject Shares. 
 [REMAINDER OF PAGE LEFT BLANK INTENTIONALLY] 

  
 11 

 IN WITNESS WHEREOF, the Company and the Majority Stockholders have caused this Agreement to
be duly executed and delivered as of the date first written above. 
  

			
	COMPANY
	
	ADT INC.
		
	By:	 	 /s/ James D. DeVries

		 	Name: James D. DeVries
		 	Title:   President and Chief Executive Officer

 Signature Page to Tender and Support Agreement 

 
			
	MAJORITY STOCKHOLDERS
	
	PRIME SECURITY SERVICES TOPCO (ML), L.P.
	
	By: Prime Security Services TopCo (ML), LLC, its general partner
	
	By: Prime Security Services TopCo Parent GP, LLC, its sole member
		
	By:	 	 /s/ James Ellsworth

		 	Name: James Ellsworth
		 	Title:   Vice President
	
	PRIME SECURITY SERVICES TOPCO (ML II), L.P.
	
	By: Prime Security Services TopCo (ML II), LLC, its general partner
	
	By: Prime Security Services GP, LLC, its sole member
	
	By: Apollo Advisors VIII, L.P. its sole member
	
	By: Apollo Capital Management VIII, LLC, its general partner
		
	By:	 	 /s/ James Ellsworth

		 	Name: James Ellsworth
		 	Title:   Vice President

 Signature Page to Tender and Support Agreement 

 SCHEDULE I 
  

									
	 Name of Majority Stockholder
	  	Owned Shares	 	  	Subject Shares	 
	 Prime Security Services TopCo (ML), L.P.
	  	 	569,012,649.65	 	  	 	124,593,343	 
	 Prime Security Services TopCo (ML II), L.P
	  	 	39,915,174.76	 	  	 	8,739,990	 

 SCHEDULE II 

The Majority Stockholders have pledged all of their Owned Shares pursuant to a margin loan agreement, which such pledge shall be released in respect of the
Subject Shares at or prior to the consummation of the Offer. 
 Encumbrances arising from the terms of that certain side letter, dated as of the date
hereof, by and between the Majority Stockholders and the Investor.

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