Document:

EX-4.3

 Exhibit 4.3 

EXECUTION VERSION 
 Clear
Channel Worldwide Holdings, Inc. 
 9.25% Senior Subordinated Notes Due 2024 

unconditionally guaranteed as to the 

payment of principal, premium, 

if any, and interest by the Guarantors 
  

 

Exchange and Registration Rights Agreement 

February 12, 2019 
 Deutsche Bank Securities
Inc. 
 As representative of the several Purchasers 

c/o Deutsche Bank Securities Inc. 
 60 Wall Street 

New York, New York 10005 
 Ladies and Gentlemen: 

Clear Channel Worldwide Holdings, Inc., a Nevada corporation (the “Company”), proposes to issue and sell to the Purchasers (as
defined herein) upon the terms set forth in the Purchase Agreement (as defined herein) $2,235,000,000 in aggregate principal amount of its 9.25% Senior Subordinated Notes due 2024. As an inducement to the Purchasers to enter into the Purchase
Agreement and in satisfaction of a condition to the obligations of the Purchasers thereunder, the Company and the Guarantors (as defined herein) agree with the Purchasers for the benefit of holders (as defined herein) from time to time of the
Registrable Securities (as defined herein) as follows: 
 1. Certain Definitions. For purposes of this Exchange and Registration
Rights Agreement (this “Agreement”), the following terms shall have the following respective meanings: 

“Base Interest” shall mean the interest that would otherwise accrue on the Securities under the terms thereof
and the Indenture, without giving effect to the provisions of this Agreement. 
 The term “broker-dealer”
shall mean any broker or dealer registered with the Commission under the Exchange Act. 
 “Business Day”
shall have the meaning set forth in Rule 13e-4(a)(3) promulgated by the Commission under the Exchange Act, as the same may be amended or succeeded from time to time. 

 “CCOH” shall mean Clear Channel Outdoor Holdings, Inc., a
Delaware corporation. 
 “Closing Date” shall mean the date on which the Securities are initially issued.

 “Commission” shall mean the United States Securities and Exchange Commission, or any other federal agency
at the time administering the Exchange Act or the Securities Act, whichever is the relevant statute for the particular purpose. 

“EDGAR System” means the EDGAR filing system of the Commission and the rules and regulations pertaining
thereto promulgated by the Commission in Regulation S-T under the Securities Act and the Exchange Act, in each case as the same may be amended or succeeded from time to time (and without regard to format).

 “Effective Time,” in the case of (i) an Exchange Registration, shall mean the time and date as of
which the Commission declares the Exchange Registration Statement effective or as of which the Exchange Registration Statement otherwise becomes effective pursuant to the Securities Act and (ii) a Shelf Registration, shall mean the time and
date as of which the Commission declares the Shelf Registration Statement effective or as of which the Shelf Registration Statement otherwise becomes effective pursuant to the Securities Act. 

“Electing Holder” shall mean any holder of Registrable Securities that has returned a completed and signed
Notice and Questionnaire to the Company in accordance with Section 3(d)(ii) or Section 3(d)(iii) and the instructions set forth in the Notice and Questionnaire. 

“Exchange Act” shall mean the Securities Exchange Act of 1934, as amended, and the rules and regulations
promulgated by the Commission thereunder, as the same may be amended or succeeded from time to time. 
 “Exchange
Offer” shall have the meaning assigned thereto in Section 2(a). 
 “Exchange Registration”
shall have the meaning assigned thereto in Section 3(c). 
 “Exchange Registration Statement” shall
have the meaning assigned thereto in Section 2(a). 
 “Exchange Securities” shall have the meaning
assigned thereto in Section 2(a). 
 “Guarantor” shall have the meaning assigned thereto in the
Indenture. 
 The term “holder” shall mean each of the Purchasers and other persons who acquire Securities
from time to time (including any successors or assigns), in each case for so long as such person owns any Securities. 

“iHeart” shall mean iHeartCommunications, Inc., a Texas corporation. 

  
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 “Indenture” shall mean the trust indenture related to the
Senior Subordinated Notes, dated as of February 12, 2019, among the Company, the Guarantors and U.S. Bank National Association, as trustee, as the same may be amended or supplemented from time to time. 

“Notice and Questionnaire” means a Notice of Registration Statement and Selling Securityholder Questionnaire
substantially in the form of Exhibit A hereto. 
 The term “person” shall mean a corporation, limited
liability company, association, partnership, organization, business, individual, government or political subdivision thereof or governmental agency. 

“Purchase Agreement” shall mean the Purchase Agreement, dated February 7, 2019, among Deutsche Bank
Securities Inc. for itself and as representative of the Purchasers, the Company and the Guarantors relating to the issuance and sale of the Securities to the Purchasers. 

“Purchasers” shall mean the Purchasers named in Schedule I to the Purchase Agreement. 

“Registrable Securities” shall mean the Securities; provided, however, that a Security shall
cease to be a Registrable Security upon the earliest to occur of the following: (i) in the circumstances contemplated by Section 2(a), the Security has been exchanged for an Exchange Security in an Exchange Offer as contemplated in
Section 2(a) (provided that any Exchange Security that, pursuant to the last two sentences of Section 2(a), is included in a prospectus for use in connection with resales by broker-dealers shall be deemed to be a Registrable
Security with respect to Sections 5, 6 and 9 until resale of such Registrable Security has been effected within the Resale Period); (ii) in the circumstances contemplated by Section 2(b), a Shelf Registration Statement registering such Security
under the Securities Act has been declared or becomes effective and such Security has been sold or otherwise transferred by the holder thereof pursuant to and in a manner contemplated by such effective Shelf Registration Statement;
(iii) subject to Section 8(b), such Security is actually sold by the holder thereof pursuant to Rule 144 under circumstances in which any legend borne by such Security relating to restrictions on transferability thereof, under the
Securities Act or otherwise, is removed by the Company or pursuant to the Indenture; or (iv) such Security shall cease to be outstanding. 

“Registration Default” shall have the meaning assigned thereto in Section 2(c). 

“Registration Default Period” shall have the meaning assigned thereto in Section 2(c). 

“Registration Expenses” shall have the meaning assigned thereto in Section 4. 

“Resale Period” shall have the meaning assigned thereto in Section 2(a). 

  
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 “Restricted Holder” shall mean (i) a holder that is an
affiliate of the Company within the meaning of Rule 405, (ii) a holder who acquires Exchange Securities outside the ordinary course of such holder’s business, (iii) a holder who has arrangements or understandings with any person
to participate in the Exchange Offer for the purpose of distributing Exchange Securities and (iv) a holder that is a broker-dealer, but only with respect to Exchange Securities received by such broker-dealer pursuant to an Exchange Offer in
exchange for Registrable Securities acquired by the broker-dealer directly from the Company. 

“Rule 144”, “Rule 405”,
“Rule 415”, “Rule 424”, “Rule 430B” and “Rule 433” shall mean, in each case, such rule
promulgated by the Commission under the Securities Act (or any successor provision), as the same may be amended or succeeded from time to time. 

“Securities” shall mean the $2,235,000,000 in aggregate principal amount of the Company’s 9.25% Senior
Subordinated Notes due 2024 (the “Senior Subordinated Notes”) to be issued and sold to the Purchasers pursuant to the Purchase Agreement, and securities issued in exchange therefor or in lieu thereof pursuant to the Indenture. Each
Security is entitled to the benefit of the guarantees provided by the Guarantors in the Indenture (the “Guarantees”) and, unless the context otherwise requires, any reference herein to a “Security,” an “Exchange
Security” or a “Registrable Security” shall include a reference to the related Guarantees. 

“Securities Act” shall mean the Securities Act of 1933, as amended, and the rules and regulations promulgated
by the Commission thereunder, as the same may be amended or succeeded from time to time. 
 “Separation”
shall mean any separation of CCOH and its Subsidiaries from iHeart whereby CCOH and its Subsidiaries cease to be direct or indirect Subsidiaries of iHeart. 

“Shelf Registration” shall have the meaning assigned thereto in Section 2(b). 

“Shelf Registration Statement” shall have the meaning assigned thereto in Section 2(b). 

“Special Interest” shall have the meaning assigned thereto in Section 2(c). 

“Subsidiary” shall mean, with respect to any person, a corporation, partnership, joint venture, limited
liability company or other business entity (excluding charitable foundations) of which a majority of the shares of securities or other interests having ordinary voting power for the election of directors or other governing body (other than
securities or interests having such power only by reason of the happening of a contingency) are at the time beneficially owned, or the management of which is otherwise controlled, directly, or indirectly through one or more intermediaries, or both,
by such person. 
 “Suspension Period” shall have the meaning assigned thereto in Section 2(b). 

  
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 “Trust Indenture Act” shall mean the Trust Indenture Act of
1939, as amended, and the rules and regulations promulgated by the Commission thereunder, as the same may be amended or succeeded from time to time. 

“Trustee” shall mean U.S. Bank National Association, as trustee under the Indenture, together with any
successors thereto in such capacity. 
 Unless the context otherwise requires, any reference herein to a “Section” or
“clause” refers to a Section or clause, as the case may be, of this Agreement, and the words “herein,” “hereof” and “hereunder” and other words of similar import refer to this Agreement as a whole and not to
any particular Section or other subdivision. 
 2. Registration Under the Securities Act. 

(a) Except as set forth in Section 2(b) below, the Company and the Guarantors agree to use commercially reasonable efforts to file under
the Securities Act, within 365 days after the effective date of the Separation, a registration statement relating to an offer to exchange (such registration statement, the “Exchange Registration Statement”, and such offer, the
“Exchange Offer”) any and all of the Securities for a like aggregate principal amount of debt securities issued by the Company and guaranteed by the Guarantors, which debt securities and guarantees shall be substantially
identical to the Securities and the related Guarantees, respectively (and are entitled to the benefits of the Indenture), except that they shall have been registered pursuant to an effective registration statement under the Securities Act and shall
not contain provisions for Special Interest contemplated in Section 2(c) below (such new debt securities hereinafter called “Exchange Securities”). The Company and the Guarantors agree to use commercially reasonable efforts to
cause the Exchange Registration Statement to be declared effective by the Commission under the Securities Act no later than 405 days after the effective date of the Separation. The Exchange Offer will be registered under the Securities Act on the
appropriate form and will comply with all applicable tender offer rules and regulations under the Exchange Act. Unless the Exchange Offer would not be permitted by applicable law or Commission policy, the Company further agrees to use commercially
reasonable efforts to (i) commence the Exchange Offer promptly (but no later than 10 Business Days) following the Effective Time of such Exchange Registration Statement, (ii) hold the Exchange Offer open for at least 20 Business Days in
accordance with Regulation 14E promulgated by the Commission under the Exchange Act (or a longer period if required by the federal securities laws) and (iii) exchange Exchange Securities for all Registrable Securities that have been properly
tendered and not withdrawn promptly following the expiration of the Exchange Offer. The Exchange Offer will be deemed to have been “completed” only (i) if the Exchange Securities and related guarantees received by holders other than
Restricted Holders in the Exchange Offer for Registrable Securities are, upon receipt, transferable by each such holder without restriction under the Securities Act and the Exchange Act and (ii) upon the Company having exchanged, pursuant to
the Exchange Offer, Exchange Securities for all Registrable Securities that have been properly tendered and not withdrawn before the expiration of the Exchange Offer, which shall be on a date that is at least 20 and not more than 30 Business Days
following the commencement of the Exchange Offer. The Company and the Guarantors agree, that upon request, they will (x) include in the Exchange Registration Statement a prospectus for use in any resales by any holder of Exchange Securities
that is a broker-dealer and (y) keep such Exchange Registration Statement effective for a period 

  
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(the “Resale Period”) beginning when Exchange Securities are first issued in the Exchange Offer and ending upon the earlier of the expiration of the 180th day after the Exchange Offer has been completed or such time as such broker-dealers no longer own any Registrable Securities. With respect to such Exchange Registration Statement, such holders shall
have the benefit of the rights of indemnification and contribution set forth in Sections 6(a), (c), (d) and (e). 
 (b) If (i) on
or prior to the time the Exchange Offer is completed the Company and the Guarantors determine, upon advice of outside counsel, that existing law or Commission interpretations are changed such that the Exchange Securities or the related guarantees
received by holders other than Restricted Holders in the Exchange Offer for Registrable Securities are not or would not be, upon receipt, transferable by each such holder without restriction under the Securities Act, (ii) the Effective Time of
the Exchange Registration Statement is not within 405 days following the effective date of the Separation and the Exchange Offer has not been completed within 30 Business Days of such Effective Time or (iii) any holder of Registrable Securities
notifies the Company prior to the 20th Business Day following the completion of the Exchange Offer that: (A) it is prohibited by law or Commission policy from participating in the Exchange
Offer, (B) it may not resell the Exchange Securities to the public without delivering a prospectus and the prospectus supplement contained in the Exchange Registration Statement is not appropriate or available for such resales, (C) it is a
broker-dealer and owns Securities acquired directly from the Company or an affiliate of the Company or (D) it is an affiliate of the Company, then the Company and the Guarantors shall, in lieu of (or, in the case of clause (iii), in addition
to) conducting the Exchange Offer contemplated by Section 2(a), use commercially reasonable efforts to file under the Securities Act no later than 30 days after the time such obligation to file arises (but no earlier than 365 days after the
effective date of the Separation), a “shelf” registration statement providing for the registration of, and the sale on a continuous or delayed basis by the holders of, all of the Registrable Securities, pursuant to Rule 415 or any
similar rule that may be adopted by the Commission (such filing, the “Shelf Registration” and such registration statement, the “Shelf Registration Statement”). The Company and the Guarantors agree to use
commercially reasonable efforts to cause the Shelf Registration Statement to become or be declared effective no later than 90 days after such Shelf Registration Statement filing obligation arises (but no earlier than 405 days after the effective
date of the Separation); provided, that if at any time the Company is or becomes a “well-known seasoned issuer” (as defined in Rule 405) and is eligible to file an “automatic shelf registration statement” (as defined
in Rule 405), then the Company and the Guarantors shall file the Shelf Registration Statement in the form of an automatic shelf registration statement as provided in Rule 405. The Company and the Guarantors agree to use commercially
reasonable efforts to keep such Shelf Registration Statement continuously effective for a period ending on the earlier of the second anniversary of the Effective Time or such time as there are no longer any Registrable Securities outstanding. No
holder shall be entitled to be named as a selling securityholder in the Shelf Registration Statement or to use the prospectus forming a part thereof for resales of Registrable Securities unless such holder is an Electing Holder. The Company and the
Guarantors agree, after the Effective Time of the Shelf Registration Statement and promptly upon the request of any holder of Registrable Securities that is not then an Electing Holder, to use commercially reasonable efforts to enable such holder to
use the prospectus forming a part thereof for resales of Registrable Securities, including, without limitation, any action necessary to identify such holder as a selling securityholder in the Shelf Registration Statement (whether by post-effective
amendment thereto or by filing a prospectus pursuant to Rules 430B and 424(b) under the 

  
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Securities Act identifying such holder), provided, however, that nothing in this sentence shall relieve any such holder of the obligation to return a completed and signed Notice and
Questionnaire to the Company in accordance with Section 3(d)(iii). Notwithstanding anything to the contrary in this Section 2(b), upon notice to the Electing Holders, the Company may suspend the use or the effectiveness of such Shelf
Registration Statement which shall not exceed 45 days in any three-month period or 90 days in any twelve-month period (a “Suspension Period”) if the Board of Directors of the Company determines that there is a valid business purpose
for suspension of the Shelf Registration Statement; provided that the Company shall promptly notify the Electing Holders when the Shelf Registration Statement may once again be used or is effective. 

(c) In the event that (i) the Company and the Guarantors have not filed the Shelf Registration Statement on or before the date on which
such Shelf Registration Statement is required to be filed pursuant to Section 2(b), or (ii) the Exchange Registration Statement or Shelf Registration Statement has not become effective or been declared effective by the Commission on or
before the date on which such registration statement is required to become or be declared effective pursuant to Section 2(a) or Section 2(b), respectively, or (iii) the Exchange Offer has not been completed within 30 Business Days
after the Effective Time of the Exchange Registration Statement relating to the Exchange Offer (if the Exchange Offer is then required to be made), or (iv) any Exchange Registration Statement or Shelf Registration Statement required by
Section 2(a) or Section 2(b) is filed and declared effective but shall thereafter either be withdrawn by the Company or shall become subject to an effective stop order issued pursuant to Section 8(d) of the Securities Act suspending
the effectiveness of such registration statement (except as specifically permitted herein, including, with respect to any Shelf Registration Statement, during any applicable Suspension Period in accordance with the last sentence of
Section 2(b)) without being succeeded immediately by an additional or amended registration statement filed and declared effective (each such event referred to in clauses (i) through (iv), a “Registration Default” and each
period during which a Registration Default has occurred and is continuing, a “Registration Default Period”), then, as liquidated damages for such Registration Default, subject to the provisions of Section 9(b), special interest
(“Special Interest”), in addition to the Base Interest, shall accrue on all Registrable Securities then outstanding at a per annum rate of 0.25% for the first 90 days of the Registration Default Period and at a per annum rate of
0.50% thereafter for the remaining portion of the Registration Default Period. The accrual of Special Interest shall be the sole and exclusive remedy available to the holders of Registrable Securities for any Registration Default. 

(d) Any reference herein to a registration statement or prospectus as of any time shall be deemed to include any document incorporated, or
deemed to be incorporated, therein by reference as of such time; and any reference herein to any post-effective amendment to a registration statement or to any prospectus supplement as of any time shall be deemed to include any document
incorporated, or deemed to be incorporated, therein by reference as of such time. 

  
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 3. Registration Procedures. 

If the Company and the Guarantors file a registration statement pursuant to Section 2(a) or Section 2(b), the following provisions
shall apply: 
 (a) At or before the Effective Time of the Exchange Registration or any Shelf Registration, whichever may
occur first, the Company shall qualify the Indenture under the Trust Indenture Act. 
 (b) In the event that such
qualification would require the appointment of a new trustee under the Indenture, the Company shall appoint a new trustee thereunder pursuant to the applicable provisions of the Indenture. 

(c) In connection with the Company’s and the Guarantors’ obligations with respect to the registration of Exchange
Securities as contemplated by Section 2(a) (the “Exchange Registration”), if applicable, the Company and the Guarantors shall: 

(i) use commercially reasonable efforts to prepare and file with the Commission an Exchange Registration Statement on any form
which may be utilized by the Company and the Guarantors and which shall permit the Exchange Offer and resales of Exchange Securities by broker-dealers during the Resale Period to be effected as contemplated by Section 2(a), and use commercially
reasonable efforts to cause such Exchange Registration Statement to become effective no later than 405 days after the effective date of the Separation; 

(ii) as soon as reasonably practicable prepare and file with the Commission such amendments and supplements to such Exchange
Registration Statement and the prospectus included therein as may be necessary to effect and maintain the effectiveness of such Exchange Registration Statement for the periods and purposes contemplated in Section 2(a) and as may be required by
the applicable rules and regulations of the Commission and the instructions applicable to the form of such Exchange Registration Statement, and promptly provide each broker-dealer holding Exchange Securities with such number of copies of the
prospectus included therein (as then amended or supplemented), in conformity in all material respects with the requirements of the Securities Act and the Trust Indenture Act, as such broker-dealer reasonably may request prior to the expiration of
the Resale Period, for use in connection with resales of Exchange Securities; 
 (iii) promptly notify each broker-dealer
that has requested or received copies of the prospectus included in such Exchange Registration Statement, and confirm such advice in writing, (A) when such Exchange Registration Statement or the prospectus included therein or any prospectus
amendment or supplement or post-effective amendment has been filed, and, with respect to such Exchange Registration Statement or any post-effective amendment, when the
same has become effective, (B) of any comments by the Commission and by the blue sky or securities commissioner or regulator of any state with respect thereto or any request by the Commission for amendments or supplements to such Exchange
Registration Statement or prospectus or for additional information, (C) of the issuance by the Commission of any stop order suspending the effectiveness of such Exchange Registration Statement or the initiation or threatening of any proceedings
for that purpose, (D) if at any time the representations and warranties 

  
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of the Company or any of the Guarantors contemplated by Section 5 cease to be true and correct in all material respects, (E) of the receipt by the Company of any notification with
respect to the suspension of the qualification of the Exchange Securities for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose, (F) the occurrence of any event that causes the Company to become an
“ineligible issuer” as defined in Rule 405, or (G) if at any time during the Resale Period when a prospectus is required to be delivered under the Securities Act, that such Exchange Registration Statement, prospectus, prospectus
amendment or supplement or post-effective amendment does not conform in all material respects to the applicable requirements of the Securities Act and the Trust Indenture Act or contains an untrue statement of
a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances then existing; 

(iv) in the event that the Company and the Guarantors would be required, pursuant to Section 3(c)(iii)(G), to notify any
broker-dealers holding Exchange Securities (except as otherwise permitted during any Suspension Period), the Company shall promptly prepare and furnish to each such holder a reasonable number of copies of a prospectus supplemented or amended so
that, as thereafter delivered to purchasers of such Exchange Securities during the Resale Period, such prospectus shall conform in all material respects to the applicable requirements of the Securities Act and the Trust Indenture Act and shall not
contain an 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 in light of the circumstances then existing; 

(v) use commercially reasonable efforts to obtain the withdrawal of any order suspending the effectiveness of such Exchange
Registration Statement or any post-effective amendment thereto at the earliest practicable date; 

(vi) use commercially reasonable efforts to (A) register or qualify the Exchange Securities under the securities laws or
blue sky laws of such jurisdictions as are contemplated by Section 2(a) no later than the commencement of the Exchange Offer, to the extent required by such laws, (B) keep such registrations or qualifications in effect and comply with such
laws so as to permit the continuance of offers, sales and dealings therein in such jurisdictions until the expiration of the Resale Period, (C) take any and all other actions as may be reasonably necessary or advisable to enable each
broker-dealer holding Exchange Securities to consummate the disposition thereof in such jurisdictions and (D) obtain the consent or approval of each governmental agency or authority, whether federal, state or local, which may be required to
effect the Exchange Registration, the Exchange Offer and the offering and sale of Exchange Securities by broker-dealers during the Resale Period; provided, however, that neither the Company nor the Guarantors shall be required for any
such purpose to (1) qualify as a foreign corporation in any jurisdiction wherein it would not otherwise be required to qualify but for the requirements of this Section 3(c)(vi), (2) consent to

  
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general service of process in any such jurisdiction or become subject to taxation in any such jurisdiction or (3) make any changes to its certificate of incorporation or by-laws or other governing documents or any agreement between it and its stockholders; 

(vii) obtain a CUSIP number for all Exchange Securities, not later than the applicable Effective Time; and 

(viii) make generally available to its securityholders no later than eighteen months after the Effective Time of such Exchange
Registration Statement, an “earning statement” of the Company, the Guarantors and their respective subsidiaries complying with Section 11(a) of the Securities Act (including, at the option of the Company, Rule 158 thereunder).

 (d) In connection with the Company’s and the Guarantors’ obligations with respect to the Shelf Registration, if
applicable, the Company and the Guarantors shall: 
 (i) prepare and file with the Commission, within the time periods
specified in Section 2(b), a Shelf Registration Statement on any form which may be utilized by the Company and which shall register all of the Registrable Securities for resale by the holders thereof in accordance with such method or methods of
disposition as may be specified by the holders of Registrable Securities as, from time to time, may be Electing Holders and use commercially reasonable efforts to cause such Shelf Registration Statement to become effective within the time periods
specified in Section 2(b); 
 (ii) mail the Notice and Questionnaire to the holders of Registrable Securities
(A) not less than 30 days prior to the anticipated Effective Time of the Shelf Registration Statement or (B) in the case of an “automatic shelf registration statement” (as defined in Rule 405), mail the Notice and
Questionnaire to the holders of Registrable Securities not later than the Effective Time of such Shelf Registration Statement, and in any such case no holder shall be entitled to be named as a selling securityholder in the Shelf Registration
Statement, and no holder shall be entitled to use the prospectus forming a part thereof for resales of Registrable Securities at any time, unless and until such holder has returned a completed and signed Notice and Questionnaire to the Company; 

(iii) after the Effective Time of the Shelf Registration Statement, upon the request of any holder of Registrable Securities
that is not then an Electing Holder, promptly send a Notice and Questionnaire to such holder; provided that the Company shall not be required to take any action to name such holder as a selling securityholder in the Shelf Registration
Statement or to enable such holder to use the prospectus forming a part thereof for resales of Registrable Securities until such holder has returned a completed and signed Notice and Questionnaire to the Company; 

  
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 (iv) as soon as practicable prepare and file with the Commission such
amendments and supplements to such Shelf Registration Statement and the prospectus included therein as may be necessary to effect and maintain the effectiveness of such Shelf Registration Statement for the period specified in Section 2(b) and
as may be required by the applicable rules and regulations of the Commission and the instructions applicable to the form of such Shelf Registration Statement, and furnish to the Electing Holders copies of any such supplement or amendment
simultaneously with or prior to its being used or filed with the Commission to the extent such documents are not publicly available on the Commission’s EDGAR System (or any successor system); 

(v) comply with the provisions of the Securities Act with respect to the disposition of all of the Registrable Securities
covered by such Shelf Registration Statement in accordance with the intended methods of disposition by the Electing Holders provided for in such Shelf Registration Statement; 

(vi) provide the Electing Holders and not more than one counsel for all the Electing Holders the opportunity to participate in
the preparation of such Shelf Registration Statement, each prospectus included therein or filed with the Commission and each amendment or supplement thereto; 

(vii) for a reasonable period prior to the filing of such Shelf Registration Statement, and throughout the period specified in
Section 2(b), make available at reasonable times at the Company’s principal place of business or such other reasonable place for inspection by the persons referred to in Section 3(d)(vi) who shall certify to the Company that they have
a current intention to sell the Registrable Securities pursuant to the Shelf Registration such financial and other information and books and records of the Company and the Guarantors, and cause the officers, employees, counsel and independent
certified public accountants of the Company and the Guarantors to respond to such inquiries, as shall be reasonably necessary (and in the case of counsel, not violate an attorney-client privilege, in such counsel’s reasonable belief), in the
judgment of the respective counsel referred to in Section 3(d)(vi), to conduct a reasonable investigation within the meaning of Section 11 of the Securities Act; provided, however, that the foregoing inspection and information
gathering on behalf of the Electing Holders shall be conducted by one counsel designated by the holders of at least a majority in aggregate principal amount of the Registrable Securities held by the Electing Holders at the time outstanding and
provided further that each such party shall be required to maintain in confidence and not to disclose to any other person any information or records reasonably designated by the Company or the Guarantors as being confidential, until such time
as (A) such information becomes a matter of public record (whether by virtue of its inclusion in such Shelf Registration Statement or otherwise), or (B) such person shall be required to disclose such information pursuant to a subpoena or
order of any court or other governmental agency or body having jurisdiction over the matter (subject to the requirements of such order, and only after such person shall have given the Company prompt prior written notice of such requirement), or
(C) such 

  
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information is required to be set forth in such Shelf Registration Statement or the prospectus included therein or in an amendment to such Shelf Registration Statement or an amendment or
supplement to such prospectus in order that such Shelf Registration Statement, prospectus, amendment or supplement, as the case may be, complies with applicable requirements of the federal securities laws and the rules and regulations of the
Commission and does not contain an untrue statement of a material fact or omit to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances then existing;

 (viii) promptly notify each of the Electing Holders and confirm such advice in writing, (A) when such Shelf
Registration Statement or the prospectus included therein or any prospectus amendment or supplement or post-effective amendment has been filed, and, with respect to such Shelf Registration Statement or any post-effective amendment, when the same has become effective, (B) of any comments by the Commission and by the blue sky or securities commissioner or regulator of any state with respect thereto or any request
by the Commission for amendments or supplements to such Shelf Registration Statement or prospectus or for additional information, (C) of the issuance by the Commission of any stop order suspending the effectiveness of such Shelf Registration
Statement or the initiation or threatening of any proceedings for that purpose, (D) if at any time the representations and warranties of the Company or any of the Guarantors set forth in Section 5 cease to be true and correct in all
material respects, (E) of the receipt by the Company of any notification with respect to the suspension of the qualification of the Registrable Securities for sale in any jurisdiction or the initiation or threatening of any proceeding for such
purpose, (F) the occurrence of any event that causes the Company or any of the Guarantors to become an “ineligible issuer” as defined in Rule 405, or (G) if at any time when a prospectus is required to be delivered under the
Securities Act, that such Shelf Registration Statement, prospectus, prospectus amendment or supplement or post-effective amendment does not conform in all material respects to the applicable requirements of
the Securities Act and the Trust Indenture Act or contains an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading in light of the
circumstances then existing; 
 (ix) use commercially reasonable efforts to obtain the withdrawal of any order suspending the
effectiveness of such Shelf Registration Statement or any post-effective amendment thereto at the earliest practicable date; 

(x) if requested by any Electing Holder, promptly incorporate in a prospectus supplement or
post-effective amendment such information as is required by the applicable rules and regulations of the Commission and as such Electing Holder reasonably specifies should be included therein relating to the
terms of the sale of such Registrable Securities, including information with respect to the principal amount of Registrable Securities being sold by such Electing Holder, the name and description of such Electing Holder, the offering

  
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price of such Registrable Securities and any discount, commission or other compensation payable in respect thereof and with respect to any other terms of the offering of the Registrable
Securities to be sold by such Electing Holder; and make all required filings of such prospectus supplement or post-effective amendment promptly after notification of the matters to be incorporated in such
prospectus supplement or post-effective amendment; 
 (xi) furnish to each Electing
Holder and the counsel referred to in Section 3(d)(vi) an executed copy (or a conformed copy) of such Shelf Registration Statement, each such amendment and supplement thereto (in each case including all exhibits thereto (in the case of an
Electing Holder of Registrable Securities, upon request) and documents incorporated by reference therein) and such number of copies of such Shelf Registration Statement (excluding exhibits thereto and documents incorporated by reference therein
unless specifically so requested by such Electing Holder) and of the prospectus included in such Shelf Registration Statement (including each preliminary prospectus and any summary prospectus), in conformity in all material respects with the
applicable requirements of the Securities Act and the Trust Indenture Act to the extent such documents are not available through the Commission’s EDGAR System (or any successor system), and such other documents, as such Electing Holder may
reasonably request in order to facilitate the offering and disposition of the Registrable Securities owned by such Electing Holder and to permit such Electing Holder to satisfy the prospectus delivery requirements of the Securities Act; and subject
to Section 3(e), the Company hereby consents to the use of such prospectus (including such preliminary and summary prospectus) and any amendment or supplement thereto by each such Electing Holder (subject to any applicable Suspension Period),
in each case in the form most recently provided to such person by the Company, in connection with the offering and sale of the Registrable Securities covered by the prospectus (including such preliminary and summary prospectus) or any supplement or
amendment thereto; 
 (xii) use commercially reasonable efforts to (A) register or qualify the Registrable Securities to
be included in such Shelf Registration Statement under such securities laws or blue sky laws of such jurisdictions as any Electing Holder shall reasonably request, (B) keep such registrations or qualifications in effect and comply with such
laws so as to permit the continuance of offers, sales and dealings therein in such jurisdictions during the period the Shelf Registration Statement is required to remain effective under Section 2(b) and for so long as may be necessary to enable
any such Electing Holder to complete its distribution of Registrable Securities pursuant to such Shelf Registration Statement, (C) take any and all other actions as may be reasonably necessary or advisable to enable each such Electing Holder to
consummate the disposition in such jurisdictions of such Registrable Securities and (D) obtain the consent or approval of each governmental agency or authority, whether federal, state or local, which may be required to effect the Shelf
Registration or the offering or sale in connection therewith or to enable the selling holder or holders to offer, or to consummate the disposition of, their Registrable Securities; provided, however, that neither the

  
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Company nor the Guarantors shall be required for any such purpose to (1) qualify as a foreign corporation in any jurisdiction wherein it would not otherwise be required to qualify but for
the requirements of this Section 3(d)(xii), (2) consent to general service of process in any such jurisdiction or become subject to taxation in any such jurisdiction or (3) make any changes to its certificate of incorporation or by-laws or other governing documents or any agreement between it and its stockholders; 

(xiii) unless any Registrable Securities shall be in book-entry only form, cooperate with the Electing Holders to facilitate
the timely preparation and delivery of certificates representing Registrable Securities to be sold, which certificates, if so required by any securities exchange upon which any Registrable Securities are listed, shall be printed, penned,
lithographed, engraved or otherwise produced by any combination of such methods, on steel engraved borders, and which certificates shall not bear any restrictive legends; 

(xiv) obtain a CUSIP number for all Securities that have been registered under the Securities Act, not later than the
applicable Effective Time; 
 (xv) notify in writing each holder of Registrable Securities of any proposal by the Company to
amend or waive any provision of this Agreement pursuant to Section 9(h) and of any amendment or waiver effected pursuant thereto, each of which notices shall contain the text of the amendment or waiver proposed or effected, as the case may be;
and 
 (xvi) make generally available to its securityholders no later than eighteen months after the Effective Time of such
Shelf Registration Statement an “earning statement” of the Company and its subsidiaries complying with Section 11(a) of the Securities Act (including, at the option of the Company, Rule 158 thereunder). 

(e) In the event that the Company would be required, pursuant to Section 3(d)(viii)(G), to notify the Electing Holders
(except as otherwise permitted during a Suspension Period), the Company shall promptly prepare and furnish to each of the Electing Holders a reasonable number of copies of a prospectus supplemented or amended so that, as thereafter delivered to
purchasers of Registrable Securities, such prospectus shall conform in all material respects to the applicable requirements of the Securities Act and the Trust Indenture Act and shall not contain an 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 in light of the circumstances then existing. Each Electing Holder agrees that upon receipt of any notice from the Company pursuant to
Section 3(d)(viii)(G) or upon notice from the Company of a Suspension Period, such Electing Holder shall forthwith discontinue the disposition of Registrable Securities pursuant to the Shelf Registration Statement applicable to such Registrable
Securities until such Electing Holder shall have received copies of such amended or supplemented prospectus, and if so directed by the Company, such Electing Holder shall deliver to the Company (at the Company’s expense) all copies, other than
permanent file copies, of the prospectus covering such Registrable Securities in such Electing Holder’s possession at the time of receipt of such notice. 

  
 -14- 

 (f) In the event of a Shelf Registration, in addition to the information
required to be provided by each Electing Holder in its Notice and Questionnaire, the Company may require such Electing Holder to furnish to the Company such additional information regarding such Electing Holder and such Electing Holder’s
intended method of distribution of Registrable Securities as may be required in order to comply with the Securities Act. Each such Electing Holder agrees to notify the Company as promptly as practicable of any inaccuracy or change in information
previously furnished by such Electing Holder to the Company or of the occurrence of any event in either case as a result of which any prospectus relating to such Shelf Registration contains or would contain an untrue statement of a material fact
regarding such Electing Holder or such Electing Holder’s intended method of disposition of such Registrable Securities or omits to state any material fact regarding such Electing Holder or such Electing Holder’s intended method of
disposition of such Registrable Securities required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances then existing, and promptly to furnish to the Company any additional information
required to correct and update any previously furnished information or required so that such prospectus shall not contain, with respect to such Electing Holder or the disposition of such Registrable Securities, an 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 in light of the circumstances then existing. 

(g) Until the expiration of six months after the Closing Date, the Company will not, and will not permit any of its
“affiliates” (as defined in Rule 144) to, resell any of the Securities that have been reacquired by any of them except pursuant to an effective registration statement, or a valid exemption from the registration requirements, under the
Securities Act. 
 (h) As a condition to its participation in the Exchange Offer, each holder of Registrable Securities shall
furnish, upon the request of the Company, a written representation to the Company (which may be contained in the letter of transmittal or “agent’s message” transmitted via The Depository Trust Company’s Automated Tender Offer
Program, in either case contemplated by the Exchange Registration Statement) to the effect that (A) it is not an “affiliate” of the Company, as defined in Rule 405 of the Securities Act, or if it is such an “affiliate”,
it will comply with the registration and prospectus delivery requirements of the Securities Act to the extent applicable, (B) it is not engaged in and does not intend to engage in, and has no arrangement or understanding with any person to
participate in, a distribution of the Exchange Securities to be issued in the Exchange Offer, (C) it is acquiring the Exchange Securities in its ordinary course of business, (D) if it is a broker-dealer that holds Securities that were
acquired for its own account as a result of market-making activities or other trading activities (other than Securities acquired directly from the Company or any of its affiliates), it will deliver a prospectus meeting the requirements of the
Securities Act in connection with any resales of the Exchange Securities received by it in the Exchange Offer, (E) if it is a broker-dealer, that it did not acquire the Securities to be exchanged in the Exchange Offer from the Company or any of
its affiliates, and (F) it is not acting on behalf of any person who could not truthfully and completely make the representations contained in the foregoing subclauses (A) through (E). 

  
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 4. Registration Expenses. 

The Company and the Guarantors agree to bear and to pay or cause to be paid promptly all expenses incident to the Company’s performance of
or compliance with this Agreement, including (a) all Commission and any Financial Industry Regulatory Authority, Inc. (“FINRA”) registration, filing and review fees and expenses including reasonable fees and disbursements of
counsel for the Eligible Holders in connection with such registration, filing and review, (b) all fees and expenses in connection with the qualification of the Registrable Securities and the Exchange Securities, as applicable, for offering and
sale under the State securities and blue sky laws referred to in Section 3(d)(xii) and determination of their eligibility for investment under the laws of such jurisdictions as the Electing Holders may designate, including any reasonable fees
and disbursements of not more than one counsel for the Electing Holders in connection with such qualification and determination, (c) all expenses relating to the preparation, printing, production, distribution and reproduction of each
registration statement required to be filed hereunder, each prospectus included therein or prepared for distribution pursuant hereto, each amendment or supplement to the foregoing, the expenses of preparing the Securities or Exchange Securities, as
applicable, for delivery and the expenses of printing or producing any selling agreements and blue sky or legal investment memoranda and all other documents in connection with the offering, sale or delivery of Securities or Exchange Securities, as
applicable, to be disposed of (including certificates representing the Securities or Exchange Securities, as applicable), (d) messenger, telephone and delivery expenses relating to the offering, sale or delivery of Securities or Exchange
Securities, as applicable, and the preparation of documents referred in clause (c) above, (e) fees and expenses of the Trustee under the Indenture, any agent of the Trustee and any counsel for the Trustee and of any custodian,
(f) internal expenses (including all salaries and expenses of the Company’s officers and employees performing legal or accounting duties), (g) fees, disbursements and expenses of counsel and independent certified public accountants of the
Company, (h) reasonable fees, disbursements and expenses of one counsel for the Electing Holders (retained in connection with a Shelf Registration, as selected by the Electing Holders of at least a majority in aggregate principal amount of the
Registrable Securities held by Electing Holders (which counsel shall be reasonably satisfactory to the Company), (i) any fees charged by securities rating services for rating the Registrable Securities or the Exchange Securities, as applicable,
and (j) fees, expenses and disbursements of any other persons, including special experts, retained by the Company in connection with such registration (collectively, the “Registration Expenses”). To the extent that any
Registration Expenses are incurred, assumed or paid by any holder of Registrable Securities, Securities or Exchange Securities, as applicable, the Company shall reimburse such person for the full amount of the Registration Expenses so
incurred, assumed or paid promptly after receipt of supporting documentation and a request therefor. Notwithstanding the foregoing, the holders of the Registrable Securities being registered shall pay all agency fees and commissions and underwriting
discounts and commissions, if any, and transfer taxes, if any, attributable to the sale of such Registrable Securities and Exchange Securities, as applicable, and the reasonable fees and disbursements of any counsel or other advisors or experts
retained by such holders (severally or jointly), other than the counsel and experts specifically referred to above. 

  
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 5. Representations and Warranties. 

Each of the Company and the Guarantors, jointly and severally, represents and warrants to, and agrees with, each Purchaser and each of the
holders from time to time of Registrable Securities that: 
 (a) Each registration statement covering Registrable Securities,
Securities or Exchange Securities, as applicable, and each prospectus (including any preliminary or summary prospectus) contained therein or furnished pursuant to Section 3(c) or Section 3(d) and any further amendments or supplements to
any such registration statement or prospectus, when it becomes effective or is filed with the Commission, as the case may be, will conform in all material respects to the requirements of the Securities Act and the Trust Indenture Act and will not
contain an 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 (in the case of the prospectus, in light of the circumstances under which they were made) not
misleading; and at all times subsequent to the Effective Time when a prospectus would be required to be delivered under the Securities Act, other than (A) from (i) such time as a notice has been given to holders of Registrable Securities
pursuant to Section 3(c)(iii)(G) or Section 3(d)(viii)(G) until (ii) such time as the Company furnishes an amended or supplemented prospectus pursuant to Section 3(c)(iv) or Section 3(e) or (B) during any applicable
Suspension Period, each such registration statement, and each prospectus (including any summary prospectus) contained therein or furnished pursuant to Section 3(c) or Section 3(d), as then amended or supplemented, will conform in all
material respects to the requirements of the Securities Act and the Trust Indenture Act and will not contain an 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 in the light of the circumstances then existing; provided, however, that this representation and warranty shall not apply to any statements or omissions made in reliance upon and in conformity with information
furnished in writing to the Company by a holder of Registrable Securities expressly for use therein. 
 (b) Any documents
incorporated by reference in any prospectus referred to in Section 5(a), when they become or became effective or are or were filed with the Commission, as the case may be, will conform or conformed in all material respects to the requirements
of the Securities Act or the Exchange Act, as applicable, and none of such documents will contain or contained an untrue statement of a material fact or will omit or omitted to state a material fact required to be stated therein or necessary to make
the statements therein (in light of the circumstances under which they were made) not misleading; provided, however, that this representation and warranty shall not apply to any statements or omissions made in reliance upon and in
conformity with information furnished in writing to the Company by a holder of Registrable Securities expressly for use therein. 

(c) The compliance by the Company and the Guarantors with all of the provisions of this Agreement and the consummation of the
transactions herein contemplated will not (i) conflict with or result in a breach or violation of any of the terms or provisions of, or constitute a default under, any indenture, mortgage, deed of

  
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trust, loan agreement or other material agreement or instrument to which the Company, the Guarantors or any of their respective subsidiaries is a party or by which the Company, the Guarantors or
any of their respective subsidiaries is bound or to which any of the property or assets of the Company, the Guarantors or any of their respective subsidiaries is subject, (ii) result in any violation of the provisions of the certificate of
incorporation, as amended, or the by-laws or other governing documents, as applicable, of the Company or the Guarantors or (iii) result in any violation of any statute or any order, rule or
regulation of any court or governmental agency or body having jurisdiction over the Company, the Guarantors or any of their respective subsidiaries or any of their respective properties, except for any violation, default, conflict or breach that
would not, individually or in the aggregate, have a material adverse effect on the Company, the Guarantors and their respective subsidiaries; and no consent, approval, authorization, order, registration or qualification of or with any such court or
governmental agency or body is required for the consummation by the Company and the Guarantors of the transactions contemplated by this Agreement, except (x) the registration under the Securities Act of the Registrable Securities and the
Exchange Securities, as applicable, and qualification of the Indenture under the Trust Indenture Act, (y) such consents, approvals, authorizations, registrations or qualifications as may be required under state securities or blue sky laws in
connection with the offering and distribution of the Registrable Securities and the Exchange Securities, as applicable, and (z) such consents, approvals, authorizations, registrations or qualifications that have been obtained and are in full
force and effect as of the date hereof. 
 (d) This Agreement has been duly authorized, executed and delivered by the Company
and by the Guarantors. 
 6. Indemnification and Contribution. 

(a) Indemnification by the Company and the Guarantors. The Company and the Guarantors, jointly and severally, will indemnify and hold
harmless each of the holders of Registrable Securities included in an Exchange Registration Statement and each of the Electing Holders as holders of Registrable Securities included in a Shelf Registration Statement against any losses, claims,
damages or liabilities, joint or several, to which such holder or such Electing Holder may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or
are based upon an untrue statement or alleged untrue statement of a material fact contained in any Exchange Registration Statement or any Shelf Registration Statement, as the case may be, under which such Registrable Securities or Exchange
Securities were registered under the Securities Act, or any preliminary, final or summary prospectus (including, without limitation, any “issuer free writing prospectus” as defined in Rule 433) contained therein or furnished by the
Company to any such holder or any such Electing Holder, or any amendment or supplement thereto, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make
the statements therein (in the case of the prospectus, in light of the circumstances under which they were made) not misleading, and will reimburse each such holder and each such Electing Holder for any and all legal or other expenses reasonably
incurred by them in connection with investigating or defending any such action or claim as such expenses are incurred; provided, however, that neither the Company nor the Guarantors shall be liable to any

  
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such person in any such case to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged
omission made in such registration statement, or preliminary, final or summary prospectus (including, without limitation, any “issuer free writing prospectus” as defined in Rule 433), or amendment or supplement thereto, in reliance
upon and in conformity with written information furnished to the Company by such person expressly for use therein. 
 (b) Indemnification
by the Electing Holders. The Company may require, as a condition to including any Registrable Securities in any Shelf Registration Statement filed pursuant to Section 2(b), that the Company shall have received an undertaking reasonably
satisfactory to it from each Electing Holder of Registrable Securities included in such Shelf Registration Statement, severally and not jointly, to (i) indemnify and hold harmless the Company, the Guarantors and all other Electing Holders of
Registrable Securities included in such Shelf Registration Statement, against any losses, claims, damages or liabilities to which the Company, the Guarantors or such other Electing Holders may become subject, under the Securities Act or otherwise,
insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon an untrue statement or alleged untrue statement of a material fact contained in such registration statement, or any preliminary,
final or summary prospectus (including, without limitation, any “issuer free writing prospectus” as defined in Rule 433) contained therein or furnished by the Company to any Electing Holder, or any amendment or supplement thereto, or
arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein (in the case of the prospectus, in light of the circumstances under which they
were made) not misleading, in each case to the extent, but only to the extent, that such untrue statement or alleged untrue statement or omission or alleged omission was made in reliance upon and in conformity with written information furnished to
the Company by such Electing Holder expressly for use therein, and (ii) reimburse the Company and the Guarantors for any legal or other expenses reasonably incurred by the Company and the Guarantors in connection with investigating or defending
any such action or claim as such expenses are incurred; provided, however, that no such Electing Holder shall be required to undertake liability to any person under this Section 6(b) for any amounts in excess of the dollar amount
of the proceeds to be received by such Electing Holder from the sale of such Electing Holder’s Registrable Securities pursuant to such registration. 

(c) Notices of Claims, Etc. Promptly after receipt by an indemnified party under subsection (a) or (b) above of written notice
of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against an indemnifying party pursuant to the indemnification provisions of or contemplated by this Section 6, notify such indemnifying
party in writing of the commencement of such action; but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to any indemnified party otherwise than under the indemnification provisions of or
contemplated by Section 6(a) or Section 6(b). In case any such action shall be brought against any indemnified party and it shall notify an indemnifying party of the commencement thereof, such indemnifying party shall be entitled to
participate therein and, to the extent that it shall wish, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with counsel reasonably satisfactory to such indemnified party (who shall not, except with the
consent of the indemnified party, be counsel to the indemnifying party), and, after notice from the indemnifying 

  
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party to such indemnified party of its election so to assume the defense thereof, such indemnifying party shall not be liable to such indemnified party for any legal expenses of other counsel or
any other expenses, in each case subsequently incurred by such indemnified party, in connection with the defense thereof other than reasonable costs of investigation. No indemnifying party shall, without the prior written consent of the indemnified
party, effect the settlement or compromise of, or consent to the entry of any judgment with respect to, any pending or threatened action or claim in respect of which indemnification or contribution may be sought hereunder (whether or not the
indemnified party is an actual or potential party to such action or claim) unless such settlement, compromise or judgment (i) includes an unconditional release of the indemnified party from all liability arising out of such action or claim and
(ii) does not include a statement as to, or an admission of, fault, culpability or a failure to act by or on behalf of any indemnified party. The indemnifying party shall not be required to indemnify the indemnified party for any amount paid or
payable by the indemnified party in the settlement or compromise of, or entry into any judgment with respect to, any pending or threatened action or claim in respect of which indemnification or contribution may be sought hereunder unless such
settlement, compromise or judgment is consented to by such indemnifying party, which consent shall not be unreasonably withheld or delayed. 

(d) Contribution. If for any reason the indemnification provisions contemplated by Section 6(a) or Section 6(b) are
unavailable to or insufficient to hold harmless an indemnified party in respect of any losses, claims, damages or liabilities (or actions in respect thereof) referred to therein, then each indemnifying party shall contribute to the amount paid or
payable by such indemnified party as a result of such losses, claims, damages or liabilities (or actions in respect thereof) in such proportion as is appropriate to reflect the relative fault of the indemnifying party and the indemnified party in
connection with the statements or omissions which resulted in such losses, claims, damages or liabilities (or actions in respect thereof), as well as any other relevant equitable considerations. The relative fault of such indemnifying party and
indemnified party shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material fact relates to information supplied by such
indemnifying party or by such indemnified party, and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The parties hereto agree that it would not be just and
equitable if contributions pursuant to this Section 6(d) were determined by pro rata allocation (even if the holders were treated as one entity for such purpose) or by any other method of allocation which does not take account of the equitable
considerations referred to in this Section 6(d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages, or liabilities (or actions in respect thereof) referred to above shall be deemed to include any
legal or other fees or expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 6(d), no Electing Holder shall be required to
contribute any amount in excess of the amount by which the dollar amount of the proceeds received by such holder from the sale of any Registrable Securities (after deducting any fees, discounts and commissions applicable thereto) exceeds the amount
of any damages which such holder has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of
the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The holders’ obligations in this Section 6(d) to contribute shall be several in proportion to the principal
amount of Registrable Securities registered by them and not joint. 

  
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 (e) The obligations of the Company and the Guarantors under this Section 6 shall be in
addition to any liability which the Company or the Guarantors may otherwise have and shall extend, upon the same terms and conditions, to each officer, director and partner of each holder, each Electing Holder, and each person, if any, who controls
any of the foregoing within the meaning of the Securities Act; and the obligations of the holders and the Electing Holders contemplated by this Section 6 shall be in addition to any liability which the respective holder or Electing Holder may
otherwise have and shall extend, upon the same terms and conditions, to each officer and director of the Company or any of the Guarantors and to each person, if any, who controls any of the foregoing within the meaning of the Securities Act, as well
as to each officer and director of the other holders and to each person, if any, who controls such other holders within the meaning of the Securities Act. 

7. Underwritten Offerings. 

Each holder of Registrable Securities hereby agrees with the Company and each other such holder that no holder of Registrable Securities may
participate in any underwritten offering hereunder unless (a) the Company gives its prior written consent to such underwritten offering, (b) the managing underwriter or underwriters thereof shall be designated by Electing Holders holding
at least a majority in aggregate principal amount of the Registrable Securities to be included in such offering, provided that such designated managing underwriter or underwriters is or are reasonably acceptable to the Company, (c) each
holder of Registrable Securities participating in such underwritten offering agrees to sell such holder’s Registrable Securities on the basis provided in any underwriting arrangements approved by the persons entitled to select the managing
underwriter or underwriters hereunder, and (d) each holder of Registrable Securities participating in such underwritten offering completes and executes all questionnaires, powers of attorney, indemnities, underwriting agreements and other
documents reasonably required under the terms of such underwriting arrangements. The Company hereby agrees with each holder of Registrable Securities that, to the extent it consents to an underwritten offering hereunder, it will negotiate in good
faith and execute all indemnities, underwriting agreements and other documents reasonably required under the terms of such underwriting arrangements, including using commercially reasonable efforts to procure customary legal opinions and auditor
“comfort” letters. 
 8. Rule 144. 

(a) Facilitation of Sales Pursuant to Rule 144. The Company and each of the Guarantors covenant to the holders of Registrable Securities
that to the extent it shall be required to do so under the Exchange Act, the Company and the Guarantors shall timely file the reports required to be filed by it under the Exchange Act or the Securities Act (including the reports under
Sections 13 and 15(d) of the Exchange Act referred to in subparagraph (c)(1) of Rule 144), and shall take such further action as any holder of Registrable Securities may reasonably request, all to the extent required from time to time to
enable such holder to sell Registrable Securities without registration under the Securities Act within the limitations of the exemption provided by Rule 144. Upon the request of any holder of Registrable Securities in connection with that
holder’s sale pursuant to Rule 144, the Company and the Guarantors shall deliver to such holder a written statement as to whether it has complied with such requirements. 

  
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 (b) Availability of Rule 144 Not Excuse for Obligations Under
Section 2. The fact that holders of Registrable Securities may become eligible to sell such Registrable Securities pursuant to Rule 144 shall not (1) cause such Securities to cease to be Registrable Securities or
(2) excuse the Company’s and the Guarantors’ obligations set forth in Section 2 of this Agreement, including without limitation the obligations in respect of an Exchange Offer, Shelf Registration and Special Interest. 

9. Miscellaneous. 
 (a)
No Inconsistent Agreements. The Company and each of the Guarantors represents, warrants, covenants and agrees that it has not granted, and shall not grant, registration rights with respect to Registrable Securities, Exchange Securities or
Securities, as applicable, or any other securities which would be inconsistent with the terms contained in this Agreement. 
 (b) Specific
Performance. The parties hereto acknowledge that there would be no adequate remedy at law if the Company or the Guarantors fail to perform any of their obligations hereunder and that the Purchasers and the holders from time to time of the
Registrable Securities may be irreparably harmed by any such failure, and accordingly agree that the Purchasers and such holders, in addition to any other remedy to which they may be entitled at law or in equity, shall be entitled to compel specific
performance of the obligations of the Company and the Guarantors under this Agreement in accordance with the terms and conditions of this Agreement, in any court of the United States or any State thereof having jurisdiction. Time shall be of the
essence in this Agreement. 
 (c) Notices. All notices, requests, claims, demands, waivers and other communications hereunder shall be
in writing and shall be deemed to have been duly given when delivered by hand, if delivered personally, by facsimile or by courier, or three days after being deposited in the mail (registered or certified mail, postage prepaid, return receipt
requested) as follows: If to the Company, to it at 20880 Stone Oak Parkway, San Antonio, Texas 78258, Attention: General Counsel, and if to a holder, to the address of such holder set forth in the security register or other records of the Company,
or to such other address as the Company or any such holder may have furnished to the other in writing in accordance herewith, except that notices of change of address shall be effective only upon receipt. 

(d) Parties in Interest. All the terms and provisions of this Agreement shall be binding upon, shall inure to the benefit of and shall
be enforceable by the parties hereto, the holders from time to time of the Registrable Securities and the respective successors and assigns of the foregoing. In the event that any transferee of any holder of Registrable Securities shall acquire
Registrable Securities, in any manner, whether by gift, bequest, purchase, operation of law or otherwise, such transferee shall, without any further writing or action of any kind, be deemed a beneficiary hereof for all purposes and such Registrable
Securities shall be held subject to all of the terms of this Agreement, and by taking and holding such Registrable Securities such transferee shall be entitled to receive the benefits of, and be conclusively deemed to have agreed to be bound by all
of the applicable terms and provisions of this Agreement. If the Company shall so request, any such successor, assign or transferee shall agree in writing to acquire and hold the Registrable Securities subject to all of the applicable terms hereof.

  
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 (e) Survival. The respective indemnities, agreements, representations, warranties and
each other provision set forth in this Agreement or made pursuant hereto shall remain in full force and effect regardless of any investigation (or statement as to the results thereof) made by or on behalf of any holder of Registrable Securities, any
director, officer or partner of such holder, or any controlling person of any of the foregoing, and shall survive delivery of and payment for the Registrable Securities pursuant to the Purchase Agreement, the transfer and registration of Registrable
Securities by such holder and the consummation of an Exchange Offer. 
 (f) Governing Law. This Agreement shall be governed
by and construed in accordance with the laws of the State of New York. 
 (g) Headings. The descriptive headings of the several
Sections and paragraphs of this Agreement are inserted for convenience only, do not constitute a part of this Agreement and shall not affect in any way the meaning or interpretation of this Agreement. 

(h) Entire Agreement; Amendments. This Agreement and the other writings referred to herein (including the Indenture and the form of
Securities) or delivered pursuant hereto which form a part hereof contain the entire understanding of the parties with respect to its subject matter. This Agreement supersedes all prior agreements and understandings between the parties with respect
to its subject matter. This Agreement may be amended and the observance of any term of this Agreement may be waived (either generally or in a particular instance and either retroactively or prospectively) only by a written instrument duly executed
by the Company and the holders of at least a majority in aggregate principal amount of the Registrable Securities at the time outstanding. Each holder of any Registrable Securities at the time or thereafter outstanding shall be bound by any
amendment or waiver effected pursuant to this Section 9(h), whether or not any notice, writing or marking indicating such amendment or waiver appears on such Registrable Securities or is delivered to such holder. 

(i) Inspection. For so long as this Agreement shall be in effect, this Agreement and a complete list of the names and addresses of all
the record holders of Registrable Securities, to the extent known to the Company following reasonable inquiry, shall be made available for inspection and copying on any Business Day by any holder of Registrable Securities for proper purposes only
(which shall include any purpose related to the rights of the holders of Registrable Securities under the Securities, the Indenture and this Agreement) at the offices of the Company at the address thereof set forth in Section 9(c) and at the
office of the Trustee under the Indenture. 
 (j) Counterparts. This Agreement may be executed by the parties in counterparts, each of
which shall be deemed to be an original, but all such respective counterparts shall together constitute one and the same instrument. 

  
 -23- 

 (k) Severability. If any provision of this Agreement, or the application thereof in
any circumstance, is held to be invalid, illegal or unenforceable in any respect for any reason, the validity, legality and enforceability of such provision in every other respect and of the remaining provisions contained in this Agreement shall not
be affected or impaired thereby. 
 (Signature Pages Follow) 

  
 -24- 

 If the foregoing is in accordance with your understanding, please sign and return to us one
counterpart for the Company, one counterpart for Deutsche Bank Securities Inc., as representative of the Purchasers, and one counterpart for each counsel hereof, and upon the acceptance hereof by you, on behalf of each of the Purchasers, this letter
and such acceptance hereof shall constitute a binding agreement between each of the Purchasers, the Company and the Guarantors. It is understood that your acceptance of this letter on behalf of each of the Purchasers is pursuant to authority
set forth in a form of Agreement among Purchasers, the form of which shall be submitted to the Company for examination upon request, but without warranty on your part as to the authority of the signers thereof. 

 

					
	Very truly yours,
	
	Clear Channel Worldwide Holdings, Inc.
		
	By: 	 	 /s/ Brian D. Coleman

		 	Name:	 	Brian D. Coleman
		 	Title:	 	 Senior Vice President, Treasurer and
 Assistant
Secretary

	
	THE GUARANTORS:
	
	Clear Channel Outdoor Holdings, Inc.
		
	By:	 	 /s/ Brian D. Coleman

		 	Name:	 	Brian D. Coleman
		 	Title:	 	 Senior Vice President, Treasurer and
 Assistant
Secretary

	
	1567 Media LLC
	Clear Channel Adshel, Inc.
	Clear Channel Outdoor, Inc.
	Clear Channel Outdoor Holdings Company Canada
	Clear Channel Spectacolor, LLC
	IN - TER - SPACE Services, Inc.
	Outdoor Management Services, Inc.
		
	By:	 	 /s/ Brian D. Coleman

		 	Name:	 	Brian D. Coleman
		 	Title:	 	 Senior Vice President, Treasurer and
 Assistant
Secretary

 [Senior Subordinated Notes – Exchange and Registration Rights Agreement] 

 Accepted and agreed as of the date hereof: 

DEUTSCHE BANK SECURITIES INC. 
 for itself and on behalf of the
Purchasers named in Schedule I to the Purchase Agreement 
  

			
	By:	 	 /s/ Alexandra Barth

		 	Name: Alexandra Barth
		 	Title:   Managing Director
		
	By:	 	 /s/ Philip Saliba

		 	Name: Philip Saliba
		 	Title:   Director

 [Senior Subordinated Notes – Exchange and Registration Rights Agreement] 

 Exhibit A 

Clear Channel Worldwide Holdings, Inc. 

INSTRUCTION TO DTC PARTICIPANTS 

(Date of Mailing) 

URGENT - IMMEDIATE ATTENTION REQUESTED 

DEADLINE FOR RESPONSE: [DATE] 1 

The Depository Trust Company (“DTC”) has identified you as a DTC Participant through which beneficial interests in the Clear
Channel Worldwide Holdings, Inc. (the “Company”) 9.25% Senior Subordinated Notes due 2024 (the “Securities”) are held. 

The Company is in the process of registering the Securities under the Securities Act of 1933, as amended, for resale by the beneficial owners
thereof. In order to have their Securities included in the registration statement, beneficial owners must complete and return the enclosed Notice of Registration Statement and Selling Securityholder Questionnaire. 

It is important that beneficial owners of the Securities receive a copy of the enclosed materials as soon as possible as their rights
to have the Securities included in the registration statement depend upon their returning the Notice and Questionnaire by [Deadline For Response]. Please forward a copy of the enclosed documents to each beneficial owner that holds interests
in the Securities through you. If you require more copies of the enclosed materials or have any questions pertaining to this matter, please contact Clear Channel Worldwide Holdings, Inc., 20880 Stone Oak Parkway, San Antonio, Texas 78258, Attention:
General Counsel. 
  

	1 	 Not less than 28 calendar days from date of mailing. 

  
 A-1 

 Clear Channel Worldwide Holdings, Inc. 

Notice of Registration Statement 

and 
 Selling Securityholder
Questionnaire 
 (Date) 

Reference is hereby made to the Exchange and Registration Rights Agreement (the “Exchange and Registration Rights Agreement”)
among Clear Channel Worldwide Holdings, Inc. (the “Company”), the Guarantors and Deutsche Bank Securities Inc. for itself and as representative of the several Purchasers named therein, related to the Company’s 9.25% Senior
Subordinated Notes due 2024 (the “Securities”). Pursuant to the Exchange and Registration Rights Agreement, the Company has filed or will file with the United States Securities and Exchange Commission (the
“Commission”) a registration statement on Form [        ] (the “Shelf Registration Statement”) for the registration and resale under Rule 415 of the
Securities Act of 1933, as amended (the “Securities Act”), of the Securities. A copy of the Exchange and Registration Rights Agreement has been filed as an exhibit to the Shelf Registration Statement and can be obtained from the
Commission’s website at www.sec.gov. All capitalized terms not otherwise defined herein shall have the meanings ascribed thereto in the Exchange and Registration Rights Agreement. 

Each beneficial owner of Registrable Securities (as defined below) is entitled to have the Registrable Securities beneficially owned by it
included in the Shelf Registration Statement. In order to have Registrable Securities included in the Shelf Registration Statement, this Notice of Registration Statement and Selling Securityholder Questionnaire (“Notice and
Questionnaire”) must be completed, executed and delivered to the Company’s counsel at the address set forth herein for receipt ON OR BEFORE [Deadline for Response]. Beneficial owners of Registrable Securities who do not properly
complete, execute and return this Notice and Questionnaire by such date (i) will not be named as selling securityholders in the Shelf Registration Statement and (ii) may not use the prospectus forming a part thereof for resales of
Registrable Securities. 
 Certain legal consequences arise from being named as a selling securityholder in the Shelf Registration Statement
and related prospectus. Accordingly, holders and beneficial owners of Registrable Securities are advised to consult their own securities law counsel regarding the consequences of being named or not being named as a selling securityholder in the
Shelf Registration Statement and related prospectus. 
 “Registrable Securities” is defined in the Exchange and
Registration Rights Agreement. 

  
 A-2 

 ELECTION 

The undersigned holder (the “Selling Securityholder”) of Registrable Securities hereby elects to include in the Shelf
Registration Statement the Registrable Securities beneficially owned by it and listed below in Item (3). The undersigned, by signing and returning this Notice and Questionnaire, agrees to be bound with respect to such Registrable Securities by
the terms and conditions of this Notice and Questionnaire and the Exchange and Registration Rights Agreement, including, without limitation, Section 6 of the Exchange and Registration Rights Agreement, as if the undersigned Selling
Securityholder were an original party thereto. 
 Pursuant to the Exchange and Registration Rights Agreement, the undersigned has agreed to
indemnify and hold harmless the Company and the Guarantors, their officers who sign any Shelf Registration Statement, and each person, if any, who controls the Company and the Guarantors within the meaning of either Section 15 of the Securities
Act or Section 20 of the Exchange Act of 1934, as amended (the “Exchange Act”), against certain loses arising out of an untrue statement, or the alleged untrue statement, of a material fact in the Shelf Registration Statement
or the related prospectus or the omission, or alleged omission, to state a material fact required to be stated in such Shelf Registration Statement or the related prospectus, but only to the extent such untrue statement or omission, or alleged
untrue statement or omission, was made in reliance on and in conformity with written information furnished to the Company by the undersigned expressly for use therein, including the information provided in this Notice and Questionnaire. 

Upon any sale of Registrable Securities pursuant to the Shelf Registration Statement, the Selling Securityholder will be required to deliver
to the Company and Trustee the Notice of Transfer set forth in Appendix A to the prospectus that forms a part of the Shelf Registration Statement and as Exhibit B to the Exchange and Registration Rights Agreement. 

The Selling Securityholder hereby provides the following information to the Company and represents and warrants that such information is
accurate and complete: 

  
 A-3 

 QUESTIONNAIRE 
  

					
			
	(1)	 	(a)	 	Full legal name of Selling Securityholder:
			
		 		 	  

		 	(b)	 	Full legal name of registered Holder (if not the same as in (a) above) of Registrable Securities listed in Item (3) below:
			
		 		 	  

		 	(c)	 	Full legal name of DTC Participant (if applicable and if not the same as (b) above) through which Registrable Securities listed in Item (3) below are held:
			
		 		 	  

		
	(2)	 	Address for notices to Selling Securityholder:
		
		 	                                    
                                         
                                         
      
		
		 	                                    
                                         
                                         
      
		
		 	                                    
                                         
                                         
      
		
		 	Telephone:
                                         
                                         
                        
		
		 	Fax:                                   
                                         
                                         
 
		
		 	Contact Person:
                                         
                                         
                
		
		 	E-mail for Contact Person:
                                         
                                        

		
	(3)	 	Beneficial Ownership of Securities:
		
		 	Except as set forth below in this Item (3), the undersigned does not beneficially own any Securities.
			
		 	(a)	 	 Principal amount of Registrable Securities beneficially owned:
                                         
                                         
                                  

CUSIP No(s). of such Registrable Securities:
                                         
                                         
                                         
                     

			
		 	(b)	 	 Principal amount of Securities other than Registrable Securities beneficially owned:
                                         
                                         

 CUSIP No(s). of such other Securities:
                                         
                                         
                                         
                               

			
		 	(c)	 	 Principal amount of Registrable Securities that the undersigned wishes to be included in the Shelf Registration
Statement:                        

CUSIP No(s). of such Registrable Securities to be included in the Shelf Registration Statement:
                                         
                       

		
	(4)	 	Beneficial Ownership of Other Securities of the Company:
		
		 	Except as set forth below in this Item (4), the undersigned Selling Securityholder is not the beneficial or registered owner of any other securities of the Company, other than the Securities listed above in
Item (3).

  
 A-4 

					
			
		 		 	State any exceptions here:
			
		 		 	  

			
		 		 	  

			
		 		 	  

		
	(5)	 	Individuals who exercise dispositive powers with respect to the Securities:
		
		 	If the Selling Securityholder is not an entity that is required to file reports with the Commission pursuant to Section 13 or 15(d) of the Exchange Act (a “Reporting Company”), then
the Selling Securityholder must disclose the name of the natural person(s) who exercise sole or shared dispositive powers with respect to the Securities. Selling Securityholders should disclose the beneficial holders, not nominee holders or other
such others of record. In addition, the Commission has provided guidance that Rule 13d-3 of the Securities Exchange Act of 1934, as amended, should be used by analogy when determining the
person or persons sharing voting and/or dispositive powers with respect to the Securities.
			
		 	(a)	 	Is the holder a Reporting Company?
			
		 		 	Yes
                                        
                    No
                    
			
		 		 	If “No”, please answer Item (5)(b).
			
		 	(b)	 	List below the individual or individuals who exercise dispositive powers with respect to the Securities:
		
		 	  

		
		 	  

		
		 	  

		
		 	Please note that the names of the persons listed in (b) above will be included in the Shelf Registration Statement and related prospectus.
		
	(6)	 	Relationships with the Company:
		
		 	Except as set forth below, neither the Selling Securityholder nor any of its affiliates, officers, directors or principal equity holders (5% or more) has held any position or office or has had any other material
relationship with the Company (or its predecessors or affiliates) during the past three years.
		
		 	State any exceptions here:
		
		 	  

		
		 	  

		
		 	  

  
 A-5 

					
		
	(7)	 	Plan of Distribution:
		
		 	Except as set forth below, the undersigned Selling Securityholder intends to distribute the Registrable Securities listed above in Item (3) only as follows (if at all): Such Registrable Securities may be sold
from time to time directly by the undersigned Selling Securityholder. Such Registrable Securities may be sold in one or more transactions at fixed prices, at prevailing market prices at the time of sale, at varying prices determined at the time of
sale, or at negotiated prices. Such sales may be effected in transactions (which may involve crosses or block transactions) (i) on any national securities exchange or quotation service on which the Registered Securities may be listed or quoted
at the time of sale, (ii) in the over-the-counter market, (iii) in transactions otherwise than on such exchanges or services or in the over-the-counter market, or (iv) through the writing of options. In connection with sales of the Registrable Securities or otherwise, the Selling Securityholder may enter
into hedging transactions with broker-dealers, which may in turn engage in short sales of the Registrable Securities in the course of hedging the positions they assume. The Selling Securityholder may also sell Registrable Securities short and
deliver Registrable Securities to close out such short positions, or loan or pledge Registrable Securities to broker-dealers that in turn may sell such securities.
		
		 	State any exceptions here:
		
		 	  

		
		 	  

		
		 	  

		
		 	Note: In no event may such method(s) of distribution take the form of an underwritten offering of Registrable Securities without the prior written agreement of the Company.
		
	(8)	 	Broker-Dealers:
		
		 	The Commission requires that all Selling Securityholders that are registered broker-dealers or affiliates of registered broker-dealers be so identified in the Shelf Registration Statement. In addition, the
Commission requires that all Selling Securityholders that are registered broker-dealers be named as underwriters in the Shelf Registration Statement and related prospectus, even if they did not receive the Registrable Securities as compensation for
underwriting activities.
			
		 	(a)	 	State whether the undersigned Selling Securityholder is a registered broker-dealer:
			
		 		 	Yes
                                        
                    No
                    
			
		 	(b)	 	If the answer to (a) is “Yes”, you must answer (i) and (ii) below, and (iii) below if applicable. Your answers to (i) and (ii) below, and
(iii) below if applicable, will be included in the Shelf Registration Statement and related prospectus.
			
		 	(i)	 	Were the Securities acquired as compensation for underwriting activities?
			
		 		 	Yes
                                        
                    No
                    
			
		 		 	If you answered “Yes”, please provide a brief description of the transaction(s) in which the Securities were acquired as compensation:

  
 A-6 

					
		 		 	  

			
		 		 	  

			
		 		 	  

			
		 	    (ii)	 	Were the Securities acquired for investment purposes?
			
		 		 	Yes
                                        
                    No
                    
			
		 	    (iii)	 	If you answered “No” to both (i) and (ii), please explain the Selling Securityholder’s reason for acquiring the Securities:
			
		 		 	  

			
		 		 	  

			
		 		 	  

			
		 	(c)	 	State whether the undersigned Selling Securityholder is an affiliate of a registered broker-dealer and, if so, list the name(s) of the broker-dealer affiliate(s):
			
		 		 	Yes
                                        
                    No
                    
			
		 		 	  

			
		 		 	  

			
		 		 	  

			
		 	(d)	 	If you answered “Yes” to question (c) above:
			
		 		 	 (i) Did the undersigned Selling Securityholder purchase Registrable Securities in the
ordinary course of business?

			
		 		 	Yes
                                        
                    No
                    
			
		 		 	If the answer is “No” to question (d)(i), provide a brief explanation of the circumstances in which the Selling Securityholder acquired the Registrable Securities:
			
		 		 	  

			
		 		 	  

			
		 		 	  

			
		 		 	 (ii)  At the time of the purchase of the Registrable Securities, did the
undersigned Selling Securityholder have any agreements, understandings or arrangements, directly or indirectly, with any person to dispose of or distribute the Registrable Securities?

			
		 		 	Yes
                                        
                    No
                    
			
		 		 	If the answer is “Yes” to question (d)(ii), provide a brief explanation of such agreements, understandings or arrangements:
			
		 		 	

  
 A-7 

					
			
		 		 	  

			
		 		 	  

			
		 		 	  

			
		 		 	If the answer is “No” to Item (8)(d)(i) or “Yes” to Item (8)(d)(ii), you will be named as an underwriter in the Shelf Registration Statement and the
related prospectus.
		
	(9)	 	Hedging and short sales:
			
		 	(a)	 	 State whether the undersigned Selling Securityholder has or will enter into “hedging transactions” with
respect to the Registrable Securities:

			
		 		 	 Yes
                                        
                    No
                    

			
		 		 	 If “Yes”, provide below a complete description of the hedging transactions into which the undersigned Selling
Securityholder has entered or will enter and the purpose of such hedging transactions, including the extent to which such hedging transactions remain in place:

		 		 	  

			
		 		 	  

			
		 		 	  

			
		 	(b)	 	 Set forth below is Interpretation 239.10 of the Commission’s Compliance and Disclosure Interpretations for
Securities Act Sections (updated as of November 6, 2017) regarding short selling:

			
		 		 	 “An issuer filed a Form S-3 registration statement for a secondary
offering of common stock which is not yet effective. One of the selling shareholders wanted to do a short sale of common stock “against the box” and cover the short sale with registered shares after the effective date. The
issuer was advised that the short sale could not be made before the registration statement becomes effective, because the shares underlying the short sale are deemed to be sold at the time such sale is made. There would, therefore, be a violation of
Section 5 if the shares were effectively sold prior to the effective date.”

			
		 		 	 By returning this Notice and Questionnaire, the undersigned Selling Securityholder will be deemed to be aware of the
foregoing interpretation.

 *   *   *   *   * 

By signing below, the Selling Securityholder acknowledges that it understands its obligation to comply, and agrees that it will comply, with
the provisions of the Exchange Act, particularly Regulation M (or any successor rule or regulation). 
 The Selling Securityholder hereby
acknowledges its obligations under the Exchange and Registration Rights Agreement to indemnify and hold harmless the Company and certain other persons as set forth in the Exchange and Registration Rights Agreement. 

  
 A-8 

 In the event that the Selling Securityholder transfers all or any portion of the Registrable
Securities listed in Item (3) above after the date on which such information is provided to the Company, the Selling Securityholder agrees to notify the transferee(s) at the time of the transfer of its rights and obligations under this Notice
and Questionnaire and the Exchange and Registration Rights Agreement. 
 By signing below, the Selling Securityholder consents to the
disclosure of the information contained herein in its answers to Items (1) through (9) above and the inclusion of such information in the Shelf Registration Statement and related prospectus. The Selling Securityholder understands that such
information will be relied upon by the Company in connection with the preparation of the Shelf Registration Statement and related prospectus. 

In accordance with the Selling Securityholder’s obligation under Section 3(d) of the Exchange and Registration Rights Agreement to
provide such information as may be required by law for inclusion in the Shelf Registration Statement, the Selling Securityholder agrees to promptly notify the Company of any inaccuracies or changes in the information provided herein which may occur
subsequent to the date hereof at any time while the Shelf Registration Statement remains in effect and to provide such additional information that the Company may reasonably request regarding such Selling Securityholder and the intended method of
distribution of Registrable Securities in order to comply with the Securities Act. Except as otherwise provided in the Exchange and Registration Rights Agreement, all notices hereunder and pursuant to the Exchange and Registration Rights Agreement
shall be made in writing, by hand-delivery, first-class mail, or air courier guaranteeing overnight delivery as follows: 
  

			
	 (i)  To the Company:
	 	
		
		 	                                      
                      
		 	                                      
                      
		 	                                      
                      
		 	                                      
                      
		 	                                      
                      
		
	 (ii)  With a copy to:
	 	
		
		 	                                      
                      
		 	                                      
                      
		 	                                      
                      
		 	                                      
                      
		 	                                      
                      

 Once this Notice and Questionnaire is executed by the Selling Securityholder and received by the
Company’s counsel, the terms of this Notice and Questionnaire, and the representations and warranties contained herein, shall be binding on, shall inure to the benefit of and shall be enforceable by the respective successors, heirs, personal
representatives, and assigns of the Company and the Selling Securityholder (with respect to the Registrable Securities beneficially owned by such Selling Securityholder and listed in Item (3) above). This Notice and Questionnaire shall be
governed in all respects by the laws of the State of New York. 

  
 A-9 

 IN WITNESS WHEREOF, the undersigned, by authority duly given, has caused this Notice and
Questionnaire to be executed and delivered either in person or by its duly authorized agent. 
 Dated:
                         
  

					
		 	  
	 	
		 	Selling Securityholder	 	
	            	 	(Print/type full legal name of beneficial owner of Registrable Securities)	 	        
			
		 	By:                                     
                                         
                                         
                                         
                                         
             	 	
		 	Name:	 	
		 	Title:	 	

 PLEASE RETURN THE COMPLETED AND EXECUTED NOTICE AND QUESTIONNAIRE FOR RECEIPT ON OR BEFORE [DEADLINE FOR RESPONSE] TO
THE COMPANY’S COUNSEL AT: 
  

                       
                                         

                       
                                         

                       
                                         

                       
                                         

                       
                                         

  
 A-10 

 Exhibit B 

NOTICE OF TRANSFER PURSUANT TO REGISTRATION STATEMENT 

[Name of Trustee] 
 Clear Channel Worldwide Holdings, Inc.

 c/o [Name of Trustee] 
 [Address of Trustee]

 Attention: Trust Officer 
  

	 	Re:	 Clear Channel Worldwide Holdings, Inc. (the “Company”) 

	 	 	 9.25% Senior Subordinated Notes due 2024 (the “Securities”) 

Dear Sirs: 
 Please be advised that
                 has transferred
$                         aggregate principal amount of the above-referenced Notes pursuant to an effective Registration
Statement on Form [    ] (File No. 333–) filed by the Company. 
 We hereby certify that
the prospectus delivery requirements, if any, of the Securities Act of 1933, as amended, have been satisfied and that the above-named beneficial owner of the Securities is named as a “Selling Holder” in the prospectus dated [date]
or in supplements thereto, and that the aggregate principal amount of the Securities transferred are the Securities listed in such prospectus opposite such owner’s name. 

Dated: 
  

			
	Very truly yours,
	
	  

	(Name)
		
	By:	 	  

		 	(Authorized Signature)

  
 B-1EX-10.19

 Exhibit 10.19 
  

 
 By Hand 

January 15, 2019 
 Dr. Christopher Stevens 

Dear Chris: 
 As we have discussed, your
employment with Arsanis, Inc. (the “Company”) will end effective January 15, 2019 (the “Separation Date”). 
 As we
also discussed, if you sign and return this letter agreement to me no earlier than the Separation Date, but no later than March 4, 2019, and do not revoke your agreement (as described below), you will be eligible to receive the severance
benefits described in paragraph 1 below. By signing and returning this letter agreement and not revoking your acceptance, you will be entering into a binding agreement with the Company and will be agreeing to the terms and conditions set forth in
the numbered paragraphs below, including the release of claims set forth in paragraph 2. Therefore, you are advised to consult with an attorney before signing this letter agreement and you have been given at least forty-five (45) days to do so.
If you sign this letter agreement, you may change your mind and revoke your agreement during the seven (7) day period after you have signed it (the “Revocation Period”) by notifying me in writing. If you do not so revoke, this letter
agreement will become a binding agreement between you and the Company upon the expiration of the Revocation Period. 
 Although your receipt
of the severance benefits is expressly conditioned on your entering into this letter agreement, the following will apply regardless of whether or not you do so: 
  

	 	•	 	 As of the Separation Date, all salary payments from the Company will cease and any benefits you had as of the
Separation Date under Company-provided benefit plans, programs, or practices will terminate, except as required by federal or state law. 

  

	 	•	 	 You will receive payment for your final wages and any unused vacation time accrued through your last day of
employment. 

  

	 	•	 	 You may, if eligible, and at your own cost, elect to continue receiving group health insurance pursuant to COBRA.
Please consult the COBRA materials to be provided under separate cover for details regarding these benefits. 

  

	 	•	 	 You must keep confidential and not use or disclose any and all non-public
information concerning the Company that you acquired during the course of your employment with the Company, including any non-public information concerning the Company’s business affairs, business
prospects, and financial condition, except to the extent permitted by law and except as otherwise permitted by paragraph 8 below. Further, you remain subject to all of your continuing obligations to the Company as set forth in the Invention, Non-Competition and Non-Disclosure Agreement which you previously executed for the benefit of the Company (the “NDA”), which remain in full force and effect.

  

	 	•	 	 No later than the Separation Date, you must return to the Company all Company property. 

 If you timely sign and return this letter agreement and do not revoke your acceptance within the
Revocation Period, the following terms and conditions will also apply: 
 1.    Severance Benefits – The
Company will provide you with the following severance benefits (the “severance benefits”): 
  

	 	a.	 Retention Bonus. The Company will pay to you $494,000.00, less all applicable taxes and withholdings, as
a retention bonus (the “Retention Bonus”). The Retention Bonus will be paid to you in one lump sum in accordance with the Company’s regular payroll practices, with payment to be made on the Company’s first regular payroll date
following the expiration of the Revocation Period. 

  

	 	b.	 COBRA Contribution. Should you timely elect and be eligible to continue receiving group health insurance
pursuant to the “COBRA” law, the Company will, until the earlier of (x) January 31, 2020, and (y) the date on which you become eligible to enroll in the group health and/or dental plans of any new employer, pay the full
monthly cost of the premiums for such coverage. All premium costs thereafter shall be paid by you on a monthly basis for as long as, and to the extent that, you remain eligible for COBRA continuation. You agree that, should you become eligible to
participate in the health and/or dental plans of any subsequent employer prior to January 31, 2020, you will so inform the Company in writing within five (5) business days of becoming eligible for such coverage. 

 

	 	c.	 Acceleration of Unvested Equity. Effective as of the date immediately following the expiration of the
Revocation Period, all outstanding and unvested stock options and other equity awards held by you as of the Separation Date shall become fully vested and exercisable and, with respect to any stock options then held by you, those options shall remain
exercisable for the period of time set forth in the applicable grant agreement. 

 You will not be eligible for, nor shall
you have a right to receive, any payments or benefits from the Company following the Separation Date other than as set forth in this paragraph. 

2.    Release of Claims – In consideration of the severance benefits, which you acknowledge you would not otherwise be
entitled to receive, you hereby fully, forever, irrevocably and unconditionally release, remise and discharge the Company, its affiliates, subsidiaries, parent companies, predecessors, and successors, and all of their respective past and present
officers, directors, stockholders, partners, members, employees, agents, representatives, plan administrators, attorneys, insurers and fiduciaries (each in their individual and corporate capacities) (collectively, the “Released Parties”)
from any and all claims, charges, complaints, demands, actions, causes of action, suits, rights, debts, sums of money, costs, accounts, reckonings, covenants, contracts, agreements, promises, doings, omissions, damages, executions, obligations,
liabilities, and expenses (including attorneys’ fees and costs), of every kind and nature that you ever had or now have against any or all of the Released Parties, whether known or unknown, including, but not limited to, any and all claims
arising out of or relating to your employment with and/or separation from the Company, including, but not limited to, all claims under Title VII of the Civil Rights Act, the Americans With Disabilities Act, the Age Discrimination in Employment Act,
the Genetic Information Nondiscrimination Act, the Family and Medical Leave Act, the Worker Adjustment and Retraining Notification Act, the Rehabilitation Act, Executive Order 11246, Executive Order 11141, the Fair Credit Reporting Act, and the
Employee Retirement Income Security Act, all as amended; all claims arising out of the Massachusetts Fair Employment Practices Act, Mass. Gen. Laws ch. 151B, § 1 et seq., the Massachusetts Wage Act, Mass. Gen. Laws ch. 149,
§ 148 et seq. (Massachusetts law regarding payment of wages and overtime), the Massachusetts Civil Rights Act, Mass. Gen. Laws ch. 12, §§ 11H and 11I, the Massachusetts Equal Rights Act, Mass. Gen. Laws. ch.
93, § 102 and Mass. Gen. Laws ch. 214, § 1C, the 

  
 - 2 - 

 
Massachusetts Labor and Industries Act, Mass. Gen. Laws ch. 149, § 1 et seq., Mass. Gen. Laws ch. 214, § 1B (Massachusetts right of privacy law), the
Massachusetts Maternity Leave Act, Mass. Gen. Laws ch. 149, § 105D, and the Massachusetts Small Necessities Leave Act, Mass. Gen. Laws ch. 149, § 52D, all as amended; all common law claims including, but not limited to, actions
in defamation, intentional infliction of emotional distress, misrepresentation, fraud, wrongful discharge, and breach of contract (including, without limitation, any claims arising out of or related to the Retention Bonus Agreement between you and
the Company dated August 27, 2018 or the Amended and Restated Letter Agreement between you and the Company dated October 10, 2017); all claims to any non-vested ownership interest in the Company,
contractual or otherwise; all state and federal whistleblower claims to the maximum extent permitted by law; and any claim or damage arising out of your employment with and/or separation from the Company (including a claim for retaliation) under any
common law theory or any federal, state or local statute or ordinance not expressly referenced above; provided, however, that this release of claims does not prevent you from filing a charge with, cooperating with, or participating in any
investigation or proceeding before the Equal Employment Opportunity Commission or a state fair employment practices agency (except that you acknowledge that you may not recover any monetary benefits in connection with any such claim, charge,
investigation, or proceeding, and you further waive any rights or claims to any payment, benefit, attorneys’ fees or other remedial relief in connection with any such claim, charge, investigation, or proceeding). Further, nothing herein shall
release (i) any claims you may have for indemnification under the Company’s certificate of incorporation, by-laws, insurance and/or any written agreement between you and the Company for director or
officer indemnification (recognizing that any such indemnification is not guaranteed by this letter agreement and shall be governed by the instrument, if any, providing for such indemnification), (ii) any rights you may have to receive insurance
payments under any policy maintained by the Company; (iii) any vested rights as an equity holder or option holder, (iv) any rights you may have to receive retirement and other benefits that are accrued and fully vested as of the Separation
Date, or (v) any other claims that cannot be released as a matter of law. 
 3.     Continuing Obligations – You
acknowledge and reaffirm your confidentiality and nondisclosure obligations discussed above in this letter agreement, as well as all of the obligations set forth in the NDA, which survive your separation from employment with the Company; provided,
however, that in consideration of your entering into this letter agreement, the Company will waive the post-employment non-competition restriction set forth in Section 4(a) thereof. 

4.    Non-Disparagement – You understand and agree that, to the extent
permitted by law and except as otherwise permitted by paragraph 8 below, you will not, in public or private, make any false, disparaging, derogatory or defamatory statements, online (including, without limitation, on any social media, networking, or
employer review site) or otherwise, to any person or entity, including, but not limited to, any media outlet, industry group, financial institution or current or former employee, board member, consultant, client or customer of the Company, regarding
the Company or any of the other Released Parties, or regarding the Company’s business affairs, business prospects, or financial condition. 

5.    Return of Company Property – You confirm that you have returned to the Company all keys, files, records
(and copies thereof), equipment (including, but not limited to, computer hardware, software and printers, flash drives and storage devices, wireless handheld devices, cellular phones, tablets, etc.), Company identification, and any other
Company-owned property in your possession or control and have left intact all electronic Company documents, including but not limited to those that you developed or helped to develop during your employment, and you have not retained any copies. You
further confirm that you have cancelled all accounts for your benefit, if any, in the Company’s name, including but not limited to, credit cards, telephone charge cards, cellular phone accounts, and computer accounts. 

6.    Business Expenses and Final Compensation – You acknowledge that you have been reimbursed by the Company for all
business expenses incurred in conjunction with the performance of your 

  
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employment and that no other reimbursements are owed to you. You further acknowledge that you have received payment in full for all services rendered in conjunction with your employment by the
Company, including payment for all wages, bonuses, commissions, and accrued, unused vacation time, and that no other compensation or benefit is owed to you except as explicitly provided herein. 

7.    Confidentiality – You understand and agree that, to the extent permitted by law and except as otherwise permitted
by paragraph 8 below, the terms and contents of this letter agreement, and the contents of the negotiations and discussions resulting in this letter agreement, shall be maintained as confidential by you and your agents and representatives and shall
not be disclosed except as otherwise agreed to in writing by the Company. 
 8.    Scope of Disclosure Restrictions –
Nothing in this letter agreement or elsewhere prohibits you from communicating with government agencies about possible violations of federal, state, or local laws or otherwise providing information to government agencies, filing a complaint with
government agencies, or participating in government agency investigations or proceedings. You are not required to notify the Company of any such communications; provided, however, that nothing herein authorizes the disclosure of information you
obtained through a communication that was subject to the attorney-client privilege. Further, notwithstanding your confidentiality and nondisclosure obligations, you are hereby advised as follows pursuant to the Defend Trade Secrets Act: “An
individual shall not be held criminally or civilly liable under any Federal or State trade secret law for the disclosure of a trade secret that (A) is made (i) in confidence to a Federal, State, or local government official, either
directly or indirectly, or to an attorney; and (ii) solely for the purpose of reporting or investigating a suspected violation of law; or (B) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing
is made under seal. An individual who files a lawsuit for retaliation by an employer for reporting a suspected violation of law may disclose the trade secret to the attorney of the individual and use the trade secret information in the court
proceeding, if the individual (A) files any document containing the trade secret under seal; and (B) does not disclose the trade secret, except pursuant to court order.” 

9.    Cooperation – You agree that, to the extent permitted by law, you shall cooperate fully with the Company
in the investigation, defense or prosecution of any claims or actions which already have been brought, are currently pending, or which may be brought in the future against the Company by a third party or by or on behalf of the Company against any
third party, whether before a state or federal court, any state or federal government agency, or a mediator or arbitrator. Your full cooperation in connection with such claims or actions shall include, but not be limited to, being available to meet
with the Company’s counsel, at reasonable times and locations designated by the Company, to investigate or prepare the Company’s claims or defenses, to prepare for trial or discovery or an administrative hearing, mediation, arbitration or
other proceeding and to act as a witness when requested by the Company. You further agree that, to the extent permitted by law, you will notify the Company promptly in the event that you are served with a subpoena (other than a subpoena
issued by a government agency), or in the event that you are asked to provide a third party (other than a government agency) with information concerning any actual or potential complaint or claim against the Company. 

10.    Amendment and Waiver – This letter agreement shall be binding upon the parties and may not be modified in
any manner, except by an instrument in writing of concurrent or subsequent date signed by duly authorized representatives of the parties hereto. This letter agreement is binding upon and shall inure to the benefit of the parties and their respective
agents, assigns, heirs, executors, successors and administrators. No delay or omission by the Company in exercising any right under this letter agreement shall operate as a waiver of that or any other right. A waiver or consent given by the Company
on any one occasion shall be effective only in that instance and shall not be construed as a bar to or waiver of any right on any other occasion. 

  
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 11.    Validity – Should any provision of this letter agreement be
declared or be determined by any court of competent jurisdiction to be illegal or invalid, the validity of the remaining parts, terms or provisions shall not be affected thereby and said illegal or invalid part, term or provision shall be deemed not
to be a part of this letter agreement. 
 12.    Nature of Agreement – You understand and agree that this
letter agreement is a severance agreement and does not constitute an admission of liability or wrongdoing on the part of the Company. 

13.    Eligibility for Severance Program – Attached to this letter agreement as Attachment A is a description of
(i) any class, unit or group of individuals covered by the program of severance benefits that the Company has offered to you, and any applicable time limits regarding such severance benefit program; and (ii) the job title and ages of all
individuals eligible or selected for such severance benefit program, and the ages of all individuals in the same job classification or organizational unit who are not eligible or who were not selected for such severance benefit program. 

14.    Acknowledgments and Voluntary Assent – You acknowledge that you have been given at least forty-five
(45) days to consider this letter agreement, including Attachment A, that the Company is hereby advising you to consult with an attorney of your own choosing prior to signing this letter agreement, and that you have had an opportunity to do so.
You understand that you may revoke this letter agreement for a period of seven (7) days after you sign this letter agreement by notifying me in writing at Arsanis, Inc., 890 Winter Street, Suite 230, Waltham, MA 02451-1472, e-mail: mike.gray@arsanis.com, and the letter agreement shall not be effective or enforceable until the expiration of this seven (7) day revocation period. You affirm that no other promises or agreements of any
kind have been made to or with you by any person or entity whatsoever to cause you to sign this letter agreement, and that you fully understand the meaning and intent of this letter agreement. You understand and agree that by entering into this
letter agreement, you are waiving any and all rights or claims you might have under the Age Discrimination in Employment Act, as amended by the Older Workers Benefit Protection Act, and that you have received consideration beyond that to which you
were previously entitled. You further state and represent that you have carefully read this letter agreement, including Attachment A, understand the contents herein, freely and voluntarily assent to all of the terms and conditions hereof, and sign
your name of your own free act. 
 15.    Applicable Law – This letter agreement and its Attachment A shall be
interpreted and construed by the laws of the Commonwealth of Massachusetts, without regard to conflict of laws provisions. You hereby irrevocably submit to and acknowledge and recognize the jurisdiction of the courts of the Commonwealth of
Massachusetts or, if appropriate, a federal court located in the Commonwealth of Massachusetts (which courts, for purposes of this letter agreement, are the only courts of competent jurisdiction), over any suit, action or other proceeding arising
out of, under or in connection with this letter agreement or the subject matter hereof. 
 16.    Entire Agreement –
This letter agreement, including Attachment A, contains and constitutes the entire understanding and agreement between the parties hereto with respect to your severance benefits, retention benefits and the settlement of claims against the Company
and cancels all previous oral and written negotiations, agreements, and commitments in connection therewith.  
 17.    Tax
Acknowledgement – In connection with the severance benefits provided to you pursuant to this letter agreement, the Company shall withhold and remit to the tax authorities the amounts required under applicable law, and you shall be
responsible for all applicable taxes with respect to such severance benefits under applicable law. You acknowledge that you are not relying upon the advice or representation of the Company with respect to the tax treatment of any of the severance
benefits set forth in paragraph 1 of this letter agreement. 

  
 - 5 - 

 If you have any questions about the matters covered in this letter agreement, please call me.

  

			
	Very truly yours,
		
	By:	 	/s/ Mike Gray
		 	Mike Gray
		 	President and Chief Executive Officer

 I hereby agree to the terms and conditions set forth above and in Attachment A. I have been given at least forty-five
(45) days to consider this letter agreement and I have chosen to execute this on the date below. I intend that this letter agreement become a binding agreement between me and the Company if I do not revoke my acceptance in seven (7) days.

  

					
	/s/ Christopher Stevens	 		 	January 15, 2019
	Dr. Christopher Stevens	 		 	Date

 To be returned in a timely manner as set forth on the first page of this letter agreement. 

  
 - 6 - 

 ATTACHMENT A 

OLDER WORKERS BENEFIT PROTECTION ACT 

NOTICE TO EMPLOYEES 
 In connection with
the Company’s anticipated merger with X4 Pharmaceuticals, Inc., your employment with the Company is being terminated and you have been selected to receive an offer of severance benefits in exchange for signing a release and waiver of
claims. Employees were selected for termination* based on the lack of necessity for certain positions and roles in light of current business requirements in advance of the merger. In connection with the severance program, you are being provided with
information as to: (i) any class, unit or group of individuals terminated and covered by such program, any eligibility factors for such termination and, therefore, eligibility for such program, and any time limits applicable to such program;
and (ii) the job title and ages of all individuals terminated and, therefore, eligible or selected for the program, and the job titles and ages of all individuals in the same job classification or organizational unit who are not being
terminated and, therefore, are not eligible or selected for the program. 
 The Company determined that all U.S. full-time** employees in the classes, units
or departments in the chart below would be eligible for the severance program. All U.S. full-time employees who are being terminated in connection with this action have been selected for the program and their job titles and ages have been indicated
in the chart below. The job titles and ages of U.S. full-time employees who were not selected for the program are also indicated in the below chart. 

Employees who were selected and are age forty and over shall have forty-five (45) days to consider the Company’s severance offer and may revoke
their agreement to participate in the severance program within seven (7) days of their execution of such an agreement. Employees who were selected and are under age forty shall have at least seven (7) days to consider the Company’s
severance offer and do not have a right of revocation. 
  

					
	 Class/Unit/ Department
	  	 Job Title and Ages of Employees Selected
	  	 Job Title and Ages of Employees Not Selected

	Clinical Operations	  	Sr. VP, Clinical Operation - 59	  	
	Clinical Operations	  	Clinical Trials Manager - 47	  	
	Executive	  	Chief Medical Officer - 59	  	
	Human Resources	  	Exec, Dir, Global HR - 46	  	
	Medical Affairs	  	Director, Medical Affairs - 34	  	
	Regulatory Affairs	  	Sr. Director - 40	  	
	Executive	  		  	President & CEO - 48
	Executive	  		  	Chief Development Officer - 55
	Finance	  		  	Exec Dir, Controller - 56
	Business Development	  		  	VP, Bus Dev - 44
	Operations	  		  	Exec Dir, Corp Planning - 41
	Finance	  		  	Sr. Mgr, External Reporting - 29
	Operations	  		  	Sr. Exec Assistant - 37

  

	*	 Terminations are currently scheduled to occur between December 31, 2018 and January 15, 2018,
depending on the position. 

	**	 For purposes of this Notice, a full-time employee is one who is regularly scheduled to work at least 32 hours
per week. 

  
 - 7 -

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