Document:

EX-10.16

 Exhibit 10.16 
 MARCUS AND MILLICHAP, INC. 
 FORM OF 

2013 EMPLOYEE STOCK PURCHASE PLAN 
 1. Purpose. The purpose of the Plan is to provide employees of the Company and its Designated Subsidiaries with an opportunity to purchase Common Stock through accumulated payroll deductions (or
through other means as set forth below). The Company’s intention is to have the Plan qualify as an “employee stock purchase plan” under Section 423 of the Code. The provisions of the Plan, accordingly, will be construed so as to
extend and limit Plan participation in a uniform and nondiscriminatory basis consistent with the requirements of Section 423 of the Code. Notwithstanding the forgoing, the Company may make offerings under the Plan that are not intended to
qualify under Section 423 of the Code to the extent deemed advisable for Designated Subsidiaries outside the United States (“Non-423 Component”). Furthermore, the Company may make separate offerings under the Plan, each of
which may have different terms, but each separate offering will be intended to comply with the requirements of Section 423 of the Code. 
 2. Definitions. 
 (a) “Administrator” means the Board or
any Committee designated by the Board to administer the Plan pursuant to Section 15. 
 (b) “Applicable
Laws” means the requirements relating to the administration of equity-based awards under U.S. state corporate laws, U.S. federal and state securities laws, the Code, any stock exchange or quotation system on which the Common Stock is listed
or quoted and the applicable laws of any foreign country or jurisdiction where Awards are, or will be, granted under the Plan. 

(c) “Board” means the Board of Directors of the Company. 

(d) “Change in Control” except as may otherwise be provided in a Stock Option Agreement, Restricted Stock Agreement or
other applicable agreement, means the occurrence of any of the following: 
 (i) The consummation of a merger or consolidation
of the Company with or into another entity or any other corporate reorganization, if the Company’s shareholders immediately prior to such merger, consolidation or reorganization cease to directly or indirectly own immediately after such merger,
consolidation or reorganization at least a majority of the combined voting power of the continuing or surviving entity’s securities outstanding immediately after such merger, consolidation or other reorganization; 

(ii) The consummation of the sale, transfer or other disposition of all or substantially all of the Company’s assets (other than
(x) to a corporation or other entity of which at least a majority of its combined voting power is owned directly or indirectly by the Company, (y) to a corporation or other entity owned directly or indirectly by the shareholders of the
Company in substantially the same proportions as their ownership of the common stock of the Company or (z) to a continuing or surviving entity described in Section 2(d)(i) in connection with a merger, consolidation or corporate
reorganization which does not result in a Change in Control under Section 2(d)(i)); 

 (iii) A change in the effective control of the Company which occurs on the date that a
majority of members of the Board is replaced during any twelve (12) month period by Directors whose appointment or election is not endorsed by a majority of the members of the Board prior to the date of the appointment or election. For purposes
of this clause, if any Person (as defined below in Section 2(d)(iv)) is considered to be in effective control of the Company, the acquisition of additional control of the Company by the same Person will not be considered a Change in Control;

 (iv) The consummation of any transaction as a result of which any Person becomes the “beneficial owner” (as defined
in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing at least fifty percent (50%) of the total voting power represented by the Company’s then outstanding voting securities. For purposes
of this Paragraph (iv), the term “person” shall have the same meaning as when used in sections 13(d) and 14(d) of the Exchange Act but shall exclude: 
 (1) a trustee or other fiduciary holding securities under an employee benefit plan of the Company or an affiliate of the Company; 
 (2) a corporation or other entity owned directly or indirectly by the shareholders of the Company in substantially the same proportions as their ownership of the common stock of the Company; 

(3) the Company; and 
 (4) a corporation or other entity of which at least a majority of its combined voting power is owned directly or indirectly by the Company; or 

(v) A complete winding up, liquidation or dissolution of the Company. 

A transaction shall not constitute a Change in Control if its sole purpose is to change the state of the Company’s incorporation or
to create a holding company that will be owned in substantially the same proportions by the persons who held the Company’s securities immediately before such transactions. 
 (e) “Code” means the Internal Revenue Code of 1986, as amended. Reference to a specific section of the Code or regulation thereunder shall include such section or regulation, any valid
regulation promulgated under such section, and any comparable provision of any future legislation or regulation amending, supplementing or superseding such section or regulation. 

(f) “Committee” means a committee of the Board appointed in accordance with Section 15 hereof. 

(g) “Common Stock” means the common stock of the Company. 

  
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 (h) “Company” means Marcus and Millichap, Inc., a Delaware corporation, or
any successor thereto. 
 (i) “Compensation” means an Eligible Employee’s regular and recurring straight
time gross earnings, payments for overtime and shift premium, but exclusive of payments for incentive compensation, bonuses and other similar compensation. The Administrator, in its discretion, may, on a uniform and nondiscriminatory basis,
establish a different definition of Compensation for a subsequent Offering Period. In addition, the Administrator has the authority to make decisions about how Compensation should be interpreted for Eligible Employees outside the United States to
the extent there are items of compensation or remuneration not specifically addressed above. 
 (j) “Designated
Subsidiary” means any Subsidiary that has been designated by the Administrator from time to time in its sole discretion as eligible to participate in the Plan. Unless the Administrator expressly states otherwise, each Designated Subsidiary
will be designated to be participating in the portion of the Plan that qualifies under Section 423 of the Code. 
 (k)
“Director” means a member of the Board. 
 (l) “Eligible Employee” means any individual who is
a common law employee of an Employer and is customarily employed for more than twenty (20) hours per week and more than five (5) months in any calendar year by the Employer. For purposes of the Plan, the employment relationship will be
treated as continuing intact while the individual is on sick leave or other leave of absence that the Employer approves. Where the period of leave exceeds three (3) months and the individual’s right to reemployment is not guaranteed either
by statute or by contract, the employment relationship will be deemed to have terminated three (3) months and one (1) day following the commencement of such leave. The Administrator, in its discretion, from time to time may, prior to an
Offering Date determine (to the extent compliant with the Section 423 of the Code rules regarding equal rights and privileges) that the definition of Eligible Employee will or will not include an individual if he or she: (i) has not
completed at least two (2) years of service since his or her last hire date (or such lesser period of time as may be determined by the Administrator in its discretion), (ii) customarily works not more than twenty (20) hours per week
(or such lesser period of time as may be determined by the Administrator in its discretion), (iii) customarily works not more than five (5) months per calendar year (or such lesser period of time as may be determined by the Administrator
in its discretion), (iv) is an executive, officer or other manager, or (v) is a highly compensated employee under Section 414(q) of the Code. With respect to offerings made under the Non-423 Component of the Plan, the Administrator
may limit eligibility further. 
 (m) “Employer” means any one or all of the Company and its Designated
Subsidiaries. With respect to a particular Eligible Employee, Employer means the Company or Designated Subsidiary, as the case may be, that directly employs the Eligible Employee. 

(n) “Exchange Act” means the Securities Exchange Act of 1934, as amended, including the rules and regulations promulgated
thereunder. 
 (o) “Exercise Date” means the first Trading Day on or after May 15 and November 15 of
each year. 

  
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 (p) “Fair Market Value” means, as of any date and unless the Administrator
determines otherwise, the value of Common Stock determined as follows: 
 (i) If the Common Stock is listed on any established
stock exchange or a national market system, including without limitation the New York Stock Exchange, the Nasdaq Global Select Market, the Nasdaq Global Market or the Nasdaq Capital Market of The Nasdaq Stock Market, its Fair Market Value will be
the closing sales price for such stock (or the closing bid, if no sales were reported) as quoted on such exchange or system on the date of determination, as reported in The Wall Street Journal or such other source as the Administrator deems
reliable; 
 (ii) If the Common Stock is regularly quoted by a recognized securities dealer but selling prices are not reported,
its Fair Market Value will be the mean of the closing bid and asked prices for the Common Stock on the date of determination, as reported in The Wall Street Journal or such other source as the Administrator deems reliable; 

(iii) In the absence of an established market for the Common Stock, the Fair Market Value thereof will be determined in good faith by the
Administrator; or 
 (q) “Fiscal Year” means the fiscal year of the Company. 

(r) “New Exercise Date” means a new Exercise Date set by shortening any Offering Period then in progress. 

(s) “Offering Date” means the first Trading Day of each Offering Period. 

(t) “Offering Periods” means the periods of approximately six (6) months during which an option granted pursuant to
the Plan may be exercised, (i) commencing on the first Trading Day on or after May 15 of each year and terminating on the first Trading Day on or following November 15, approximately six (6) months later, and (ii) commencing
on the first Trading Day on or after November 15 of each year and terminating on the first Trading Day on or following May 15, approximately six (6) months later. The first Offering Period under the Plan will commence with the first
Trading Day on or after the May 15 or November 15 so designated as the start of the first Offering Period by the Administrator after the Securities and Exchange Commission declares the Company’s Registration Statement effective. The
duration and timing of Offering Periods may be changed pursuant to Sections 4 and 21. 
 (u) “Parent” means
any corporation (other than the Company) in an unbroken chain of corporations ending with the Company if each of the corporations other than the Company owns stock possessing fifty percent (50%) or more of the total combined voting power of all
classes of stock in one of the other corporations in such chain. A corporation that attains the status of a Parent on a date after the adoption of the Plan shall be considered a Parent commencing as of such date. 

(v) “Participant” means an Eligible Employee who participates in the Plan. 

(w) “Plan” means this means Marcus and Millichap, Inc., 2013 Employee Stock Purchase Plan. 

  
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 (x) “Purchase Price” means an amount equal to ninety percent (90%) of
the Fair Market Value of a share of Common Stock on the Offering Date or on the Exercise Date, whichever is lower; provided however, that the Purchase Price may be determined for subsequent Offering Periods by the Administrator, in its discretion,
subject to compliance with Section 423 of the Code or pursuant to Section 21. 
 (y) “Registration
Statement” means the registration statement on Form S-1 filed with the Securities and Exchange Commission for the initial public offering of the Common Stock. 
 (z) “Subsidiary” means any corporation (other than the Company) in an unbroken chain of corporations beginning with the Company if each of the corporations other than the last corporation
in the unbroken chain owns stock possessing fifty percent (50%) or more of the total combined voting power of all classes of stock in one of the other corporations in such chain. A corporation that attains the status of a Subsidiary on a date
after the adoption of the Plan shall be considered a Subsidiary commencing as of such date. 
 (aa) “Trading
Day” means a day on which the national stock exchange upon which the Common Stock is listed is open for trading. 
 3.
Eligibility. 
 (a) Any Eligible Employee on a given Offering Date subsequent to the first Offering Period will be
eligible to participate in the Plan, subject to the requirements of Section 5. 
 (b) Limitations. Any provisions of
the Plan to the contrary notwithstanding, no Eligible Employee will be granted an option under the Plan (i) to the extent that, immediately after the grant, such Eligible Employee (or any other person whose stock would be attributed to such
Eligible Employee pursuant to Section 424(d) of the Code) would own capital stock of the Company or any Parent or Subsidiary of the Company and/or hold outstanding options to purchase such stock possessing five percent (5%) or more of the
total combined voting power or value of all classes of the capital stock of the Company or of any Parent or Subsidiary of the Company, or (ii) to the extent that his or her rights to purchase stock under all employee stock purchase plans (as
defined in Section 423 of the Code) of the Company or any Parent or Subsidiary of the Company accrues at a rate which exceeds twenty-five thousand dollars ($25,000) worth of stock (determined at the Fair Market Value of the stock at the
time such option is granted) for each calendar year in which such option is outstanding at any time. 
 4. Offering
Periods. The Plan will be implemented by consecutive Offering Periods with a new Offering Period commencing on the first Trading Day on or after May 15 and November 15 each year, or on such other date as the Administrator will
determine. The first Offering Period under the Plan will commence with the first Trading Day on or after the May 15 or November 15 so designated as the start of the first Offering Period by the Administrator after the Securities and
Exchange Commission declares the Company’s Registration Statement effective. The Administrator will have the power to change the duration of Offering Periods (including the commencement dates thereof) with respect to future offerings without
stockholder approval if such change is announced prior to the scheduled beginning of the first Offering Period to be affected thereafter. 

  
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 5. Participation. An Eligible Employee may participate in the Plan pursuant to
Section 3(a) by (i) submitting to the Company’s payroll office (or its designee), on or before a date prescribed by the Administrator prior to an applicable Offering Date, a properly completed subscription agreement authorizing
payroll deductions in the form provided by the Administrator for such purpose, or (ii) following an electronic or other enrollment procedure prescribed by the Administrator. 

6. Payroll Deductions. 
 (a) At the time a Participant enrolls in the Plan pursuant to Section 5, he or she will elect to have payroll deductions made on each pay day during the Offering Period in an amount not exceeding
fifteen percent (15%) of the Compensation which he or she receives on each pay day during the Offering Period; provided, however, that should a pay day occur on an Exercise Date, a Participant will have the payroll deductions made on such day
applied to his or her account under the subsequent Offering Period. A Participant’s subscription agreement will remain in effect for successive Offering Periods unless terminated as provided in Section 11 hereof. 

(b) Payroll deductions for a Participant will commence on the first pay day following the Offering Date and will end on the last pay day
prior to the Exercise Date of such Offering Period to which such authorization is applicable, unless sooner terminated by the Participant as provided in Section 11 hereof. 
 (c) All payroll deductions made for a Participant will be credited to his or her account under the Plan (which will be recorded by the Company or Designated Subsidiary on its books, but not be an
externally held account unless required under Applicable Law) and will be withheld in whole percentages only. A Participant may not make any additional payments into such account, subject to the exception set forth below in Section 6(f) below.

 (d) A Participant may discontinue his or her participation in the Plan as provided in Section 11. If permitted by the
Administrator, as determined in its sole discretion, for an Offering Period, a Participant may increase or decrease the rate of his or her payroll deductions during the Offering Period by (i) properly completing and submitting to the
Company’s payroll office (or its designee), on or before a date prescribed by the Administrator prior to an applicable Exercise Date, a new subscription agreement authorizing the change in payroll deduction rate in the form provided by the
Administrator for such purpose, or (ii) following an electronic or other procedure prescribed by the Administrator. If a Participant has not followed such procedures to change the rate of payroll deductions, the rate of his or her payroll
deductions will continue at the originally elected rate throughout the Offering Period and future Offering Periods (unless terminated as provided in Section 11). The Administrator may, in its sole discretion, limit the nature and/or number of
payroll deduction rate changes that may be made by Participants during any Offering Period. Any change in payroll deduction rate made pursuant to this Section 6(d) will be effective as of the first full payroll period following five (5)
business days after the date on which the change is made by the Participant (unless the Administrator, in its sole discretion, elects to process a given change in payroll deduction rate more quickly). 

  
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 (e) Notwithstanding the foregoing, to the extent necessary to comply with
Section 423(b)(8) of the Code and Section 3(b), a Participant’s payroll deductions may be decreased to zero percent (0%) at any time during an Offering Period. Subject to Section 423(b)(8) of the Code and Section 3(b)
hereof, payroll deductions will recommence at the rate originally elected by the Participant effective as of the beginning of the first Offering Period which is scheduled to end in the following calendar year, unless terminated by the Participant as
provided in Section 11. 
 (f) If there are countries outside the United States in which payroll deductions for Plan
participation are not permitted under Applicable Law, the Administrator may allow Eligible Employees to participate by remitting payment to the Company or Designated Subsidiary by check, wire transfer or other feasible means, and shall determine
procedures for facilitating participation in the Plan. 
 7. Tax Withholding. At the time the option is exercised, in
whole or in part, or at the time some or all of the Common Stock issued under the Plan is disposed of, the Participant must make adequate provision for the Company’s or Employer’s federal, state, foreign or any other tax or social
insurance contribution liability payable to any authority, national insurance, social security or other tax withholding obligations, if any, which arise upon the exercise of the option or the disposition of the Common Stock. At any time, the Company
or the Employer may, but will not be obligated to, withhold from the Participant’s compensation the amount necessary for the Company or the Employer to meet applicable withholding obligations, including any withholding required to make
available to the Company or the Employer any tax deductions or benefits attributable to sale or early disposition of Common Stock by the Eligible Employee. Alternatively, the Company may refuse to release Shares purchased until the Eligible Employee
satisfies the required tax withholding obligations. 
 8. Grant of Option. On the Offering Date of each Offering Period,
each Eligible Employee participating in such Offering Period will be granted an option to purchase on each Exercise Date with respect to an Offering Period (at the applicable Purchase Price) up to a number of shares of Common Stock determined by
dividing such Eligible Employee’s payroll deductions accumulated prior to such Exercise Date and retained in the Eligible Employee’s account as of the Exercise Date by the applicable Purchase Price; provided that in no event will an
Eligible Employee be permitted to purchase during each Offering Period more than 1,250 shares of the Common Stock (subject to any adjustment pursuant to Section 20), and provided further that such purchase will be subject to the limitations set
forth in Sections 3(b) and 14. The Eligible Employee may accept the grant of such option under the Plan, by electing to participate in the Plan in accordance with the requirements of Section 5. The Administrator may, for future Offering
Periods, increase or decrease, in its absolute discretion (but in accordance with Section 423 of the Code), the maximum number of shares of Common Stock that an Eligible Employee may purchase during each Offering Period. Exercise of the option
will occur as provided in Section 9, unless the Participant has withdrawn pursuant to Section 11. The option will expire on the last day of the Offering Period. 
 9. Exercise of Option. 
 (a) Unless a Participant withdraws from the Plan as
provided in Section 11, his or her option for the purchase of shares of Common Stock will be exercised automatically on the Exercise Date, and the maximum number of full shares subject to the option will be purchased for such Participant at the
applicable Purchase Price with the accumulated payroll deductions in his or her account. No fractional shares of Common Stock will be purchased; any payroll deductions 

  
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accumulated in a Participant’s account, which are not sufficient to purchase a full share will be retained in the Participant’s account for the subsequent Offering Period, subject to
earlier withdrawal by the Participant as provided in Section 11. Any other funds left over in a Participant’s account after the Exercise Date will be returned to the Participant. During a Participant’s lifetime, a Participant’s
option to purchase shares hereunder is exercisable only by him or her. 
 (b) If the Administrator determines that, on a given
Exercise Date, the number of shares of Common Stock with respect to which options are to be exercised may exceed (i) the number of shares of Common Stock that were available for sale under the Plan on the Offering Date of the applicable
Offering Period, or (ii) the number of shares of Common Stock available for sale under the Plan on such Exercise Date, the Administrator may in its sole discretion provide that the Company will make a pro rata allocation of the shares of Common
Stock available for purchase on such Offering Date or Exercise Date, as applicable, in as uniform a manner as will be practicable and as it will determine in its sole discretion to be equitable among all Participants exercising options to purchase
Common Stock on such Exercise Date, and continue all Offering Periods then in effect or terminate all Offering Periods then in effect pursuant to Section 21. The Company may make a pro rata allocation of the shares available on the Offering
Date of any applicable Offering Period pursuant to the preceding sentence, notwithstanding any authorization of additional shares for issuance under the Plan by the Company’s stockholders subsequent to such Offering Date. 

10. Delivery. As soon as reasonably practicable after each Exercise Date on which a purchase of shares of Common Stock occurs, the
Company will arrange the delivery to each Participant of the shares purchased upon exercise of his or her option in a form determined by the Administrator (in its sole discretion) and pursuant to rules established by the Administrator. The Company
may permit or require that shares be deposited directly with a broker designated by the Company or to a designated agent of the Company, and the Company may utilize electronic or automated methods of share transfer. The Company may require that
shares be retained with such broker or agent for a designated period of time and/or may establish other procedures to permit tracking of disqualifying dispositions of such shares. No Participant will have any voting, dividend, or other stockholder
rights with respect to shares of Common Stock subject to any option granted under the Plan until such shares have been purchased and delivered to the Participant as provided in this Section 10. 

 

	11.	Withdrawal. 

 (a) A
Participant may withdraw all but not less than all the payroll deductions credited to his or her account and not yet used to exercise his or her option under the Plan at any time by (i) submitting to the Company’s payroll office (or its
designee) a written notice of withdrawal in the form prescribed by the Administrator for such purpose (which may be similar to the form attached hereto as Exhibit B), or (ii) following an electronic or other withdrawal procedure
prescribed by the Administrator. All of the Participant’s payroll deductions credited to his or her account will be paid to such Participant promptly after receipt of notice of withdrawal and such Participant’s option for the Offering
Period will be automatically terminated, and no further payroll deductions for the purchase of shares will be made for such Offering Period. If a Participant withdraws from an Offering Period, payroll deductions will not resume at the beginning of
the succeeding Offering Period, unless the Participant re-enrolls in the Plan in accordance with the provisions of Section 5. 

  
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 (b) A Participant’s withdrawal from an Offering Period will not have any effect upon
his or her eligibility to participate in any similar plan which may hereafter be adopted by the Company or in succeeding Offering Periods, which commence after the termination of the Offering Period from which the Participant withdraws. 

12. Termination of Employment. Upon a Participant’s ceasing to be an Eligible Employee, for any reason, he or she will be
deemed to have elected to withdraw from the Plan and the payroll deductions credited to such Participant’s account during the Offering Period but not yet used to purchase shares of Common Stock under the Plan will be returned to such
Participant or, in the case of his or her death, to the person or persons entitled thereto under Section 16, and such Participant’s option will be automatically terminated. 

13. Interest. No interest will accrue on the payroll deductions of a Participant in the Plan, unless legally required in any
foreign country in which the Plan is offered and such term does not violate the requirements of Section 423 of the Code. 
  

	14.	Stock. 

 (a) Subject to
adjustment upon changes in capitalization of the Company as provided in Section 20 hereof, the maximum number of shares of Common Stock which will be made available for sale under the Plan will be 366,667 shares, plus an annual increase to be
added on the first day of each Fiscal Year beginning with the 2015 Fiscal Year, equal to the least of (i) 366,667 shares of Common Stock, (ii) one percent (1%) of the outstanding shares of Common Stock on such date, or (iii) an
amount determined by the Administrator. All of these Shares may be issued under the offerings made under the Plan that comply with the requirements of Section 423 of the Code. 

(b) Until the shares are issued (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent
of the Company), a Participant will only have the rights of an unsecured creditor with respect to such shares, and no right to vote or receive dividends or any other rights as a stockholder will exist with respect to such shares. 

(c) Shares of Common Stock to be delivered to a Participant under the Plan will be registered in the name of the Participant or in the
name of the Participant and his or her spouse. 
 15. Administration. The Plan will be administered by the Board or a
Committee appointed by the Board, which Committee will be constituted to comply with Applicable Laws. The Administrator will have full and exclusive discretionary authority to construe, interpret and apply the terms of the Plan, to determine
eligibility and to adjudicate all disputed claims filed under the Plan. Every finding, decision and determination made by the Administrator will, to the full extent permitted by law, be final and binding upon all parties. Notwithstanding any
provision to the contrary in this Plan, the Administrator may adopt rules or procedures relating to the operation and administration of the Plan to accommodate the specific requirements of local laws and procedures for jurisdictions outside of the
United States. Without limiting the generality of the foregoing, the Administrator is specifically authorized to adopt rules and procedures regarding eligibility to participate, the definition of Compensation, handling of payroll deductions, making
of contributions to the Plan (including, without limitation, in forms other than payroll deductions), establishment of bank or trust accounts to hold payroll deductions, payment of interest, conversion of local currency, obligations to pay payroll
tax, determination of beneficiary designation requirements, withholding procedures and handling of stock certificates which vary with local requirements. 

  
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 16. Designation of Beneficiary. 

(a) The Administrator may allow a Participant to file a designation of a beneficiary who is to receive any shares of Common Stock and
cash, if any, from the Participant’s account under the Plan in the event of such Participant’s death subsequent to an Exercise Date on which the option is exercised but prior to delivery to such Participant of such shares and cash. In
addition, the Administrator may allow a Participant to file a designation of a beneficiary who is to receive any cash from the Participant’s account under the Plan in the event of such Participant’s death prior to exercise of the option.
If a Participant is married and the designated beneficiary is not the spouse, spousal consent will be required for such designation to be effective in the United States or to the extent required by Applicable Law. 

(b) If made, such designation of beneficiary may be changed by the Participant at any time by notice in a form determined by the
Administrator. In the event of the death of a Participant and in the absence of a beneficiary validly designated under the Plan who is living at the time of such Participant’s death, the Company will deliver such shares and/or cash to the
executor or administrator of the estate of the Participant, or if no such executor or administrator has been appointed (to the knowledge of the Company), the Company, in its discretion, may deliver such shares and/or cash to the spouse or to any one
or more dependents or relatives of the Participant, or if no spouse, dependent or relative is known to the Company, then to such other person as the Company may designate. 
 (c) All beneficiary designations will be in such form and manner as the Administrator may designate from time to time. 
 17. Transferability. Neither payroll deductions credited to a Participant’s account nor any rights with regard to the exercise of an option or to receive shares of Common Stock under the Plan
may be assigned, transferred, pledged or otherwise disposed of in any way (other than by will, the laws of descent and distribution or as provided in Section 16 hereof) by the Participant. Any such attempt at assignment, transfer, pledge or
other disposition will be without effect, except that the Company may treat such act as an election to withdraw funds from an Offering Period in accordance with Section 11 hereof. 

18. Use of Funds. The Company may use all payroll deductions received or held by it under the Plan for any corporate purpose, and
the Company will not be obligated to segregate such payroll deductions, unless and to the extent legally required in any foreign country in which the Plan is offered. Until shares of Common Stock are issued, Participants will only have the rights of
an unsecured creditor with respect to such shares. 
 19. Reports. Individual accounts will be maintained for each
Participant in the Plan. Statements of account will be given to participating Eligible Employees at least annually, which statements will set forth the amounts of payroll deductions, the Purchase Price, the number of shares of Common Stock purchased
and the remaining cash balance, if any. 
 20. Adjustments, Dissolution, Liquidation, Merger or Change in Control.

  
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 (a) Adjustments. In the event of a stock split, reverse stock split, stock dividend,
combination, consolidation, recapitalization (including a recapitalization through a large nonrecurring cash dividend) or reclassification of the Shares, subdivision of the Shares, a rights offering, a reorganization, merger, spin-off, split-up,
repurchase, or exchange of Common Stock or other securities of the Company or other significant corporate transaction, or other change affecting the Common Stock occurs, the Administrator, in order to prevent dilution or enlargement of the benefits
or potential benefits intended to be made available under the Plan, will, in such manner as it may deem equitable, adjust the number, kind and class of Common Stock that may be delivered under the Plan, the Purchase Price per share and the number of
shares of Common Stock covered by each option under the Plan which has not yet been exercised, and the numerical limits of Sections 8 and 14. Notwithstanding the forgoing, all adjustments under this Section 20 shall be made in a manner
that does not result in taxation under Code Section 409A. 
 (b) Dissolution or Liquidation. In the event of the
proposed winding up, dissolution or liquidation of the Company, any Offering Period then in progress will be shortened by setting a New Exercise Date, and will terminate immediately prior to the consummation of such proposed dissolution or
liquidation, unless provided otherwise by the Administrator. The New Exercise Date will be before the date of the Company’s proposed dissolution or liquidation. The Administrator will notify each Participant in writing, prior to the New
Exercise Date, that the Exercise Date for the Participant’s option has been changed to the New Exercise Date and that the Participant’s option will be exercised automatically on the New Exercise Date, unless prior to such date the
Participant has withdrawn from the Offering Period as provided in Section 11 hereof. 
 (c) Merger or Change in
Control. In the event of a merger or Change in Control (other than a winding up, dissolution or liquidation), each outstanding option will be assumed or an equivalent option substituted by the successor corporation or a Parent or Subsidiary of
the successor corporation. In the event that the successor corporation refuses to assume or substitute for the option, the Offering Period with respect to which such option relates will be shortened by setting a New Exercise Date and will end on the
New Exercise Date. The New Exercise Date will occur before the date of the Company’s proposed merger or Change in Control. The Administrator will notify each Participant in writing prior to the New Exercise Date, that the Exercise Date for the
Participant’s option has been changed to the New Exercise Date and that the Participant’s option will be exercised automatically on the New Exercise Date, unless prior to such date the Participant has withdrawn from the Offering Period as
provided in Section 11 hereof. 
  

	21.	Amendment or Termination. 

(a) The Administrator, in its sole discretion, may amend, suspend, or terminate the Plan, or any part thereof, at any time and for any
reason. If the Plan is terminated, the Administrator, in its discretion, may elect to terminate all outstanding Offering Periods either immediately or upon completion of the purchase of shares of Common Stock on the next Exercise Date (which may be
sooner than originally scheduled, if determined by the Administrator in its discretion), or may elect to permit Offering Periods to expire in accordance with their terms (and subject to any adjustment pursuant to Section 20). If the Offering
Periods are terminated prior to expiration, all amounts then credited to Participants’ accounts which have not been used to purchase shares of Common Stock will be returned to the Participants (without interest thereon, except as otherwise
required under local laws) as soon as administratively practicable. 

  
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 (b) Without stockholder consent and without limiting Section 21(a), the Administrator
will be entitled to change the Offering Periods, limit the frequency and/or number of changes in the amount withheld during an Offering Period, establish the exchange ratio applicable to amounts withheld in a currency other than U.S. dollars, permit
payroll withholding in excess of the amount designated by a Participant in order to adjust for delays or mistakes in the Company’s processing of properly completed withholding elections, establish reasonable waiting and adjustment periods
and/or accounting and crediting procedures to ensure that amounts applied toward the purchase of Common Stock for each Participant properly correspond with amounts withheld from the Participant’s Compensation, and establish such other
limitations or procedures as the Administrator determines in its sole discretion advisable which are consistent with the Plan and Section 423 of the Code. 
 (c) In the event the Administrator determines that the ongoing operation of the Plan may result in unfavorable financial accounting consequences, the Administrator may, in its discretion and, to the
extent necessary or desirable, modify, amend or terminate the Plan to reduce or eliminate such accounting consequence including, but not limited to: 
 (i) amending the Plan to conform with the safe harbor definition under Financial Accounting Standards Board Accounting Standards Codification Topic 718, including with respect to an Offering Period
underway at the time; 
 (ii) altering the Purchase Price for any Offering Period including an Offering Period underway at the
time of the change in Purchase Price; 
 (iii) shortening any Offering Period by setting a New Exercise Date, including an
Offering Period underway at the time of the Administrator action; 
 (iv) reducing the maximum percentage of Compensation a
Participant may elect to set aside as payroll deductions; and 
 (v) reducing the maximum number of Shares a Participant may
purchase during any Offering Period. 
 Such modifications or amendments will not require stockholder approval or the consent of any Plan
Participants. 
 22. Notices. All notices or other communications by a Participant to the Company under or in connection
with the Plan will be deemed to have been duly given when received in the form and manner specified by the Company at the location, or by the person, designated by the Company for the receipt thereof. 

23. Conditions Upon Issuance of Shares. Shares of Common Stock will not be issued with respect to an option unless the exercise of
such option and the issuance and delivery of such shares pursuant thereto will comply with all applicable provisions of law, domestic or foreign, including, without limitation, the Securities Act of 1933, as amended, the Exchange Act, the rules and
regulations promulgated thereunder, and the requirements of any stock exchange upon which the shares may then be listed, and will be further subject to the approval of counsel for the Company with respect to such compliance. 

  
 -12-

 As a condition to the exercise of an option, the Company may require the person exercising
such option to represent and warrant at the time of any such exercise that the shares are being purchased only for investment and without any present intention to sell or distribute such shares if, in the opinion of counsel for the Company, such a
representation is required by any of the aforementioned applicable provisions of law. 
 24. Term of Plan. The Plan will
become effective upon the earlier to occur of its adoption by the Board or its approval by the stockholders of the Company. It will continue in effect for a term of ten (10) years, unless sooner terminated under Section 21. 

25. Stockholder Approval. The Plan will be subject to approval by the stockholders of the Company within twelve (12) months
after the date the Plan is adopted by the Board. Such stockholder approval will be obtained in the manner and to the degree required under Applicable Laws. 
 26. Governing Law. The Plan and all Awards hereunder shall be construed in accordance with and governed by the laws of the State of California, but without regard to its conflict of law provisions.

  
 -13-

 EXHIBIT A 

MARCUS AND MILLICHAP, INC. 
 2013 EMPLOYEE STOCK PURCHASE PLAN 
 SUBSCRIPTION AGREEMENT

  

			
	              Original Application

             Change in Payroll Deduction Rate

             Change of Beneficiary(ies)
	  	Offering
Date:                                

 1.             hereby elects to participate
in the Marcus and Millichap, Inc. 2013 Employee Stock Purchase Plan (the “Plan”) and subscribe to purchase shares of the Company’s Common Stock in accordance with this Subscription Agreement and the Plan. 

2. I hereby authorize payroll deductions from each paycheck in the amount of
            % of my Compensation on each payday (from 0 to 15%) during the Offering Period in accordance with the Plan. (Please note that no fractional percentages are permitted and will be
rounded down to the nearest whole percent.) 
 3. I understand that such payroll deductions will be accumulated for the purchase
of shares of Common Stock at the applicable Purchase Price determined in accordance with the Plan. I understand that if I do not withdraw from an Offering Period, any accumulated payroll deductions will be used to automatically exercise my option
and purchase Common Stock under the Plan. 
 4. I have received a copy of the complete Plan and its accompanying prospectus. I
understand that my participation in the Plan is in all respects subject to the terms of the Plan. Any conflict between this Subscription Agreement and the Plan will be resolved in favor of the Plan. 

5. I understand that if I dispose of any shares received by me pursuant to the Plan either within two (2) years after the Offering
Date (the first day of the Offering Period during which I purchased such shares) or one (1) year after the Exercise Date, I will be treated for federal income tax purposes as having received ordinary income at the time of such disposition in an
amount equal to the excess of the fair market value of the shares at the time such shares were purchased by me over the price which I paid for the shares. I hereby agree to notify the Company in writing within thirty (30) days after the date
of any disposition of my shares and I will make adequate provision for federal, state or other tax withholding obligations, if any, which arise upon the disposition of the Common Stock. The Company may, but will not be obligated to, withhold
from my compensation the amount necessary to meet any applicable withholding obligation including any withholding necessary to make available to the Company any tax deductions or benefits attributable to sale or early disposition of Common Stock by
me. If I dispose of such shares at any time after the expiration of both the two (2)-year and one (1)-year holding periods, I understand that I will be treated for federal income tax purposes as having received income only at the time of
such disposition, and that such income will be taxed as ordinary income only to the extent of an amount equal to the lesser of (a) the excess of the fair market value of the shares at the time of such

 
disposition over the purchase price which I paid for the shares, or (b) ten percent (10%) of the fair market value of the shares on the first trading day of the Offering Period. The
remainder of the gain, if any, recognized on such disposition will be taxed as capital gain. 
 6. I hereby agree to be bound by
the terms of the Plan. The effectiveness of this Subscription Agreement is dependent upon my eligibility to participate in the Plan. 
 In
the event of my death, I hereby designate the following as my beneficiary to receive all payments and shares due me under the Plan: 
 NAME
OF BENEFICIARY: (Please print) 
  
  

(First)           (Middle)           (Last)

  
  
 Relationship 
  
  

(Address) 
 PERSONAL INFORMATION: (Please print)

 Employee’s Social 
 Security
Number:                                        
       
 Employee’s Address: 

 
  
 I UNDERSTAND THAT THIS SUBSCRIPTION AGREEMENT SHALL REMAIN IN EFFECT THROUGHOUT SUCCESSIVE OFFERING PERIODS UNLESS TERMINATED BY ME. 

 

					
	  
	 		  	  

	Signature of Employee	 		  	Date
			
	          
	 		  	  

	Spouse’s Signature (If beneficiary other than spouse)	 		  	Date

  
 -2-

 EXHIBIT B 

MARCUS AND MILLICHAP, INC. 
 2013 EMPLOYEE STOCK PURCHASE PLAN 
 NOTICE OF WITHDRAWAL 

The undersigned Participant in the Offering Period of the Marcus and Millichap, Inc. 2013 Employee Stock Purchase Plan that began on
            ,             (the “Offering Date”) hereby notifies the Company that he or she hereby withdraws from
the Offering Period. He or she hereby directs the Company to pay to the undersigned as promptly as practicable all the payroll deductions credited to his or her account with respect to such Offering Period. The undersigned understands and agrees
that his or her option for such Offering Period will be automatically terminated. The undersigned understands further that no further payroll deductions will be made for the purchase of shares in the current Offering Period and the undersigned will
be eligible to participate in succeeding Offering Periods only by delivering to the Company a new Subscription Agreement. 
  

	
	Name and Address of Participant:
	
	  
	
	  
	
	  
	
	Signature:
	
	  
	
	Date:EX-10.1

 Exhibit 10.1 
  

 
 October 25, 2013 
 To
the parties shown on Schedule “A”  
 attached hereto and made a part hereof 

 

	Re:	Senior Unsecured Revolving Credit Facility in the increased aggregate maximum principal amount of up to $975,000,000.00 – Second Amendment 

Ladies and Gentlemen: 
 Reference is hereby made
to that certain Amended and Restated Credit Agreement dated October 25, 2011 entered into by and among Verisk Analytics, Inc., a Delaware corporation, and Insurance Services Office, Inc., a Delaware corporation, as co-borrowers (hereinafter
collectively referred to as the “Co-Borrowers”), certain lenders (hereinafter collectively referred to as the “Lenders”), Bank of America, N.A., as swing line lender and letter of credit issuer (hereinafter, Bank of
America, in its capacity as letter of credit issuer, shall be referred to as “L/C Issuer”), Merrill Lynch, Pierce, Fenner & Smith Incorporated and J.P. Morgan Securities LLC, as joint lead arrangers and joint book managers,
JPMorgan Chase Bank, N.A., as syndications agent, Morgan Stanley Bank, N.A. and Wells Fargo Bank, N.A., as co-documentation agents, and Bank of America, N.A., as Administrative Agent for the Lenders (hereinafter, in such capacity, referred to as the
“Agent”), as previously amended and modified (hereinafter, as so amended and modified, referred to as the “Credit Agreement”), pursuant to which the Lenders have made available to the Co-Borrowers a five
(5) year amended and restated syndicated senior unsecured revolving credit facility in the current aggregate maximum principal amount of up to $850,000,000.00 (hereinafter referred to as the “Facility”). Defined terms used but
not expressly defined herein shall have the same meanings when used herein as set forth in the Credit Agreement. 
 Reference is hereby
further made to that certain Amended and Restated Continuing Guaranty dated October 25, 2011 executed and delivered by the Guarantors in favor of the Agent and the Lenders, as previously amended and modified (hereinafter, as so amended and
modified, referred to as the “Guaranty”). 
 The Co-Borrowers have requested that the Lenders and the Agent, and the
Lenders and the Agent have agreed to, (i) increase the maximum principal amount of the Facility from the current aggregate maximum principal amount of “up to $850,000,000.00” to an increased aggregate maximum principal amount of
“up to $975,000,000.00”, (ii) extend the existing Maturity Date of the Facility by one (1) year from the existing Maturity Date of “October 24, 2017” to a new Maturity Date of “October 24, 2018”,
(iii) increase the aggregate maximum principal amount to which the Aggregate Commitments under the Facility may be increased from the existing aggregate principal amount of “up to $1,000,000,000.00” to a new increased aggregate
principal amount of “up to $1,250,000,000.00”, as described in Section 2.14(a) of the Credit Agreement, (iv) increase the dollar thresholds referenced in Sections 8.01(e) and 8.01(i) of the existing Credit Agreement
from the existing dollar thresholds to a new dollar threshold of “$50,000,000.00” in each case, (v) amend the definition of “Applicable Rate” in the Credit Agreement (including, without limitation, to update the pricing grid
set forth therein), and (vi) to provide the conditional consent of the Agent and the Lenders with respect to (a) two (2) impending mergers involving two (2) of the existing Guarantors and (b) the contemplated
“Conversion” (as such term is defined in Paragraph 4 below) and the subsequent release of Insurance Services Office, Inc. as a Co-Borrower and each of the Guarantors as Guarantors. Therefore, in furtherance of the foregoing, the
parties hereby covenant and agree as follows: 

  
 [SECOND AMENDMENT –
LETTER AMENDMENT] 
 US_ACTIVE-114538708.5-RLMITRA 

 October 25, 2013 

 Page
 2
 
  

 1. Effective as of the date hereof, the Agent and the Lenders hereby agree as follows: 

(i) The Co-Borrowers have exercised their right to increase the maximum principal amount of the Facility in accordance with the terms,
conditions, and provisions of Section 2.14 of the Credit Agreement and, as a result, the aggregate maximum principal amount of the Facility is hereby increased to $975,000,000.00. 

(ii) Section 1.01 of the Credit Agreement is hereby amended and modified by deleting the existing definition of “Applicable
Rate” in its entirety and inserting the following new definition of “Applicable Rate” in its place and stead: 

“Applicable Rate” means, from time to time, the following percentages per annum, based upon the Consolidated Funded Debt
Leverage Ratio as set forth in the most recent Compliance Certificate received by the Administrative Agent pursuant to Section 6.02(b): 
  

											
	 Pricing

Level
	  	Consolidated
Funded Debt
Leverage Ratio	  	Commitment
Fee	  	Eurodollar
Rate
Margin	  	Base
Rate
Margin	  	Letter of
Credit Fee
	1	  	< 1.0:1	  	12.5 bps	  	112.5 bps	  	12.5 bps	  	112.5 bps
	2	  	> 1.0 but < 1.75:1	  	15.0 bps	  	125.0 bps	  	25.0 bps	  	125.0 bps
	3	  	> 1.75 but < 2.50:1	  	20.0 bps	  	150.0 bps	  	50.0 bps	  	150.0 bps
	4	  	> 2.50:1 but < 3.50:1	  	27.5 bps	  	187.5 bps	  	87.5 bps	  	187.5 bps

 Any increase or decrease in the Applicable Rate resulting from a change in the Consolidated Funded Debt
Leverage Ratio shall become effective as of the first Business Day immediately following the date a Compliance Certificate is delivered pursuant to Section 6.02(b); provided, however, that if a Compliance Certificate is not
delivered when due in accordance with such Section, then, upon the request of the Required Lenders, Pricing Level 3 shall apply as of the first Business Day after the date on which such Compliance Certificate was required to have been delivered and
shall remain in effect until the date on which such Compliance Certificate is delivered. The Applicable Rate in effect from October 25, 2013 through the date on which the Administrative Agent receives the Co-Borrowers’ Compliance
Certificate and related financial statements for its third fiscal quarter of the 2013 fiscal year shall be determined based upon Pricing Level 3. 

For the purposes of calculating the Consolidated Funded Debt Leverage Ratio in connection with this definition only, and for no other purpose,
to the extent that Verisk or any direct or indirect Subsidiary of Verisk acquires a Person, the Administrative Agent shall include in its calculation of Consolidated EBITDA the pro forma effect of such acquisition as if such acquisition shall have
occurred on the first date of the applicable test period. 

  
 [SECOND AMENDMENT –
LETTER AMENDMENT] 
 US_ACTIVE-114538708.5-RLMITRA 

 October 25, 2013 

 Page
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 Notwithstanding anything to the contrary contained in this definition, the determination of
the Applicable Rate for any period shall be subject to the provisions of Section 2.10(b).” 
 (iii)
Section 1.01 of the Credit Agreement is hereby amended and modified by deleting the existing definition of “Fee Letter” in its entirety and inserting the following new definition of “Fee Letter” in its place and
stead: 
 ““Fee Letter” means, collectively, (a) that certain letter agreement dated October 4, 2011, by and
among the Co-Borrowers, the Administrative Agent and the Arrangers, (b) that certain letter agreement dated August 30, 2012, by and among the Co-Borrowers, the Administrative Agent and the Arrangers, and (c) that certain letter
agreement dated September 25, 2013, by and among the Co-Borrowers, the Administrative Agent and the Arrangers.” 
 (iv)
Section 1.01 of the Credit Agreement is hereby amended and modified by deleting the reference in the definition of “Maturity Date” to a date of “October 24, 2017” and inserting a reference to new date of “October
24, 2018” in its place and stead. 
 (v) Section 1.01 of the Credit Agreement is hereby amended and modified by adding the
following new definition: 
 ““October 2014 Private Placement Tranche” means, collectively, the principal tranches
advanced and outstanding under the Private Placement Facilities as of October 25, 2013.” 
 (vi) In Section 2.14(a) of
the Credit Agreement, the existing reference to “$1,000,000,000.00” is hereby deleted in its entirety, and a new reference to “$1,250,000,000.00” is hereby inserted in its place and stead. 

(vii) Section 7.02 of the Credit Agreement is hereby amended and modified by deleting the existing Section 7.02 in its
entirety and inserting the following new Section 7.02 in its place and stead: 
 “7.02 Priority Indebtedness; Permitted
Subsidiary Acquisition Indebtedness. Create, incur, assume or suffer to exist (a) any Priority Indebtedness in excess at any time of an amount equal to the sum of (i) seven and one-half percent (7.5%) of Assets at such time
plus (ii) the principal balance of the October 2014 Private Placement Tranche outstanding at such time (specifically excluding any refinance thereof or any additional amounts drawn under the Private Placement Facilities from and after
October 25, 2013) or (b) any Permitted Subsidiary Acquisition Indebtedness in an aggregate principal amount in excess of $500,000,000.00 outstanding at any time.” 

(viii) In Section 8.01(e) of the Credit Agreement, each existing reference to “$25,000,000.00” is hereby deleted in its
entirety, and a new reference to “$50,000,000.00” is hereby inserted in its place and stead. 

  
 [SECOND AMENDMENT –
LETTER AMENDMENT] 
 US_ACTIVE-114538708.5-RLMITRA 

 October 25, 2013 

 Page
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 (ix) In Section 8.01(i) of the Credit Agreement, each existing reference to
“$5,000,000.00” is hereby deleted in its entirety, and a new reference to “$50,000,000.00” is hereby inserted in its place and stead. 

(x) The Commitments and Applicable Percentages set forth and contained on the existing Schedule 2.01 of the Credit Agreement are hereby
deleted in their entirety and the Commitments and Applicable Percentages set forth on Schedule 1 attached hereto are hereby inserted in their place and stead. 

2. There is, as of October 25, 2013, due and owing on the Facility the principal amount of $1,930,566.89, consisting of
(i) Committed Loans in the aggregate principal amount of $-0-, and (ii) issued and outstanding Letters of Credit in the aggregate stated amount of $1,930,566.89, in the case of each of the foregoing together with unpaid accrued interest,
fees, costs and expenses due and owing to the Lenders under the Credit Agreement, all without offset, defense or counterclaim, all of which are hereby expressly waived by the Co-Borrowers and the Guarantors as of the date hereof. As of
October 25, 2013, there were no amounts due and owing to the Lenders in connection with any unreimbursed draws on any Letter of Credit. 

3. The Agent and the Lenders hereby provide their advance consent to (a) the impending merger of Verisk Health Solutions, Inc., a
Delaware corporation, with and into Bloodhound Technologies, Inc., a Delaware corporation (hereinafter referred to as “Bloodhound”), (b) the impending merger of Verisk Health, Inc., a Massachusetts corporation, with and into
Bloodhound, and (c) the subsequent renaming of Bloodhound as “Verisk Health, Inc.”, all notwithstanding Section 7.03(b) of the Credit Agreement, said approval to be conditioned upon the Co-Borrowers’ compliance with
the terms, conditions, and provisions of Section 6.12 of the Credit Agreement. 
 4. The Agent and the Lenders hereby provide
their advance consent to the contemplated conversion of Insurance Services Office, Inc. from a corporation to a limited liability company in accordance with applicable Delaware corporate and limited liability company Laws (hereinafter referred to as
the “Conversion”). The Co-Borrowers shall provide the Agent with prompt written evidence of the completion of the Conversion. The Agent and the Lenders hereby further agree that, effective upon receipt of such written evidence and
provided no Default or Event of Default exists at such time, (a) Insurance Services Office, Inc. shall be released as a Co-Borrower and each of the Guarantors shall be released as Guarantors from and after the date of the completion of the
Conversion pursuant to a Release of Co-Borrower and Guarantors in the form attached hereto as Exhibit “A”, which Release of Co-Borrower and Guarantors shall be executed and delivered by the Agent and the Co-Borrowers and
(b) the covenant set forth and contained in Section 6.12 (Additional Guarantors) of the Credit Agreement shall be deleted from the Credit Agreement automatically and shall be of no further force or effect from and after the
completion of the Conversion. 
 5. The Co-Borrowers and the Guarantors hereby represent and warrant to the Lenders and the Agent that all
representations and warranties of the Co-Borrowers and the Guarantors contained in the Credit Agreement and all of the other Loan Documents continue to be true, accurate and correct as of the date hereof, as if made on and as of the date hereof,
except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct as of such earlier date, and except that the representations and warranties contained in subsections (a),
(b), and (c) of Section 5.05 of the Credit Agreement shall be deemed to refer to the most recent statements furnished pursuant to clauses (a) and (b), respectively, of Section 6.01 of the Credit
Agreement. All of the indebtedness represented by the Loan Documents and all other obligations, responsibilities, and liabilities of the Co-Borrowers and the Guarantors to the Lenders and the Agent are due without any offset, defenses, or
counterclaims whatsoever. The Co-Borrowers and the Guarantors hereby covenant and agree that, except as expressly amended and/or modified by this letter agreement, all of the terms, conditions, and provisions of the Credit Agreement and the other
Loan Documents (including, without limitation, the Guaranty) shall remain unchanged and in full force and effect. 

  
 [SECOND AMENDMENT –
LETTER AMENDMENT] 
 US_ACTIVE-114538708.5-RLMITRA 

 October 25, 2013 

 Page
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 6. The Co-Borrowers and the Guarantors do hereby (i) represent and warrant that, after
giving effect to the terms, conditions, and provisions of this letter agreement, no Default or Event of Default exists; (ii) except as otherwise set forth herein, acknowledge and agree that nothing contained herein and no actions taken pursuant
to the terms hereof are intended to constitute a novation of the Facility, or any waiver of the terms, conditions, or provisions of the Credit Agreement and/or any of the other Loan Documents and do not constitute a release, termination or waiver of
any of the rights and/or remedies granted to the Lenders and/or the Agent under the Loan Documents; (iii) represent and warrant that none of the certificate or articles of incorporation, by-laws, or other governing documents of either of the
Co-Borrowers or the Guarantors have been amended, modified and/or supplemented in any material way since the date such documents were most recently delivered to the Lenders; and (iv) represent and warrant that the Co-Borrowers and the
Guarantors have taken all necessary action required by law and by its governing documents to execute and deliver this letter agreement and that such execution and delivery constitutes the legal and validly binding action of such entity. 

7. On and after the date of this letter agreement, this letter agreement shall for all purposes constitute a “Loan Document”. 

8. This letter agreement may be executed in any number of counterparts, each of which, when taken together, shall be deemed one and the same
instrument. 
 9. This letter agreement shall be governed by, and construed in accordance with, the laws of the State of New York. 

10. This letter agreement may not be amended or modified unless said amendment or modification is in writing and signed by all parties hereto.

 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 [SECOND AMENDMENT –
LETTER AMENDMENT] 
 US_ACTIVE-114538708.5-RLMITRA 

 October 25, 2013 

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 Kindly indicate the agreement with the terms and conditions of this letter agreement by
countersigning in the space provided below, and returning a countersigned copy of this letter agreement to the undersigned. 
  

			
	Very truly yours,
	
	BANK OF AMERICA, N.A., as the Agent
		
	By:	 	     /s/ Laura Call

		 	Name: Laura Call
		 	Title: Assistant Vice President

  
 [SECOND AMENDMENT –
LETTER AMENDMENT] 
 US_ACTIVE-114538708.5-RLMITRA 

 October 25, 2013 

 Page
 7
 
  

 ACCEPTED AND AGREED AS OF THE 25TH DAY OF OCTOBER,
2013: 
  

					
		 	CO-BORROWERS:
		
		 	VERISK ANALYTICS, INC., as a Co-Borrower
			
		 	By:	 	     /s/ Mark V. Anquillare

		 		 	    Mark V. Anquillare
		 		 	    Executive Vice President and
		 		 	    Chief Financial Officer
		
		 	INSURANCE SERVICES OFFICE, INC., as a Co-Borrower
			
		 	By:	 	     /s/ Mark V. Anquillare

		 		 	    Mark V. Anquillare
		 		 	    Executive Vice President and
		 		 	    Chief Financial Officer
	
	GUARANTORS:
		
		 	XACTWARE SOLUTIONS, INC., a Delaware corporation
		 	ISO SERVICES, INC., a Delaware corporation
		 	ISO CLAIMS SERVICES, INC., a Delaware corporation
		 	AIR WORLDWIDE CORPORATION, a Delaware corporation
		 	VERISK HEALTH, INC., a Massachusetts corporation
		 	INTERTHINX, INC., a California corporation
		 	VERISK HEALTH SOLUTIONS, INC., a Delaware corporation
			
		 	By:	 	     /s/ Mark V. Anquillare

		 		 	Mark V. Anquillare
		 		 	Vice President of Xactware Solutions, Inc.,
		 		 	    ISO Services, Inc.,
		 		 	    ISO Claims Services, Inc.,
		 		 	    AIR Worldwide Corporation, and
		 		 	    Interthinx, Inc.
		 		 	Vice President and Chief Financial Officer of
		 		 	    Verisk Health, Inc., and
		 		 	    Verisk Health Solutions, Inc.

 [SIGNATURES CONTINUED ON NEXT PAGE] 

  
 [SECOND AMENDMENT –
LETTER AMENDMENT] 
 US_ACTIVE-114538708.5-RLMITRA 

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	LENDERS:
	
	BANK OF AMERICA, N.A., as a Lender, L/C Issuer and Swing Line Lender
		
	By:	 	     /s/ William T. Franey

		 	William T. Franey
		 	Senior Vice President

 [SIGNATURES CONTINUED ON NEXT PAGE] 

  
 [SECOND AMENDMENT –
LETTER AMENDMENT] 
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	JPMORGAN CHASE BANK, N.A., as a Lender
		
	By:	 	 /s/ Hector J. Varona

	Name:	 	Hector J. Varona
	Title:	 	Vice President

 [SIGNATURES CONTINUED ON NEXT PAGE] 

  
 [SECOND AMENDMENT –
LETTER AMENDMENT] 
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	WELLS FARGO BANK, N.A., as a Lender
		
	By:	 	 /s/ Tony Sood

	Name:	 	Tony Sood
	Title:	 	Director

 [SIGNATURES CONTINUED ON NEXT PAGE] 

  
 [SECOND AMENDMENT –
LETTER AMENDMENT] 
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	 SUNTRUST BANK, as a Lender

		
	By:	 	 /s/ Douglas C. O’Bryan

	Name:	 	Douglas C. O’Bryan
	Title:	 	Director

 [SIGNATURES CONTINUED ON NEXT PAGE] 

  
 [SECOND AMENDMENT –
LETTER AMENDMENT] 
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	 RBS CITIZENS, N.A., as a Lender

		
	By:	 	 /s/ Hassan Sayed

	Name:	 	Hassan Sayed
	Title:	 	Vice President

 [SIGNATURES CONTINUED ON NEXT PAGE] 

  
 [SECOND AMENDMENT –
LETTER AMENDMENT] 
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	 MORGAN STANLEY BANK, N.A., as a Lender

		
	By:	 	 /s/ Sherrese Clarke

	Name:	 	Sherrese Clarke
	Title:	 	Authorized Signatory

 [SIGNATURES CONTINUED ON NEXT PAGE] 

  
 [SECOND AMENDMENT –
LETTER AMENDMENT] 
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	 TD BANK, N.A., as a Lender

		
	By:	 	 /s/ Craig Welch

	Name:	 	Craig Welch
	Title:	 	Senior Vice President

 [SIGNATURES CONTINUED ON NEXT PAGE] 

  
 [SECOND AMENDMENT –
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	 ROYAL BANK OF CANADA, as a Lender

		
	By:	 	 /s/ Kamran Khan

	Name:	 	Kamran Khan
	Title:	 	Authorized Signatory

 [SIGNATURES CONTINUED ON NEXT PAGE] 

  
 [SECOND AMENDMENT –
LETTER AMENDMENT] 
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	 THE NORTHERN TRUST COMPANY, as a Lender

		
	By:	 	 /s/ Andrew D. Holtz

	Name:	 	Andrew D. Holtz
	Title:	 	Senior Vice President

 [SIGNATURES CONTINUED ON NEXT PAGE] 

  
 [SECOND AMENDMENT –
LETTER AMENDMENT] 
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	 HSBC BANK USA, N.A., as a Lender

		
	By:	 	 /s/ Robert Moravec

	Name:	 	Robert Moravec
	Title:	 	Senior Relationship Manager

 [END OF SIGNATURES] 

  
 [SECOND AMENDMENT –
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 18
 
  

 SCHEDULE “A” 

 

			
	 Via Overnight Courier
  

Verisk Analytics, Inc.
 Insurance Services Office, Inc.

545 Washington Boulevard
 Jersey City, New Jersey 07310

Attention:             Mr. Mark V. Anquillare

                   
          Executive Vice President and

                   
          Chief Financial Officer
  

Via Overnight Courier
  

Verisk Analytics, Inc.
 Insurance Services Office, Inc.

545 Washington Boulevard
 Jersey City, New Jersey 07310

Attention:             Kenneth E. Thompson, Esq.

                   
          Executive Vice President and

                   
          General Counsel
  
 Via
Overnight Courier
  
 Xactware Solutions, Inc.

1426 East 750 North
 Orem, Utah 84097

 
 Via Overnight Courier

 
 ISO Services, Inc.

545 Washington Boulevard
 Jersey City, New Jersey 07310-1686

 
 Via Overnight Courier

 
 ISO Claims Services, Inc.

250 Berryhill Road
 Columbia, South Carolina 29210

 
 Via Overnight Courier

 
 Verisk Health, Inc.

99 Summer Street, Suite 520
 Boston, Massachusetts 02110
	  	 Via Overnight Courier
  

Verisk Health Solutions, Inc.
 130 Turner Street, 7th Floor
 Waltham, Massachusetts 02453

 
  
  

Via Overnight Courier
  

Verisk Health, Inc.
 99 Summer Street, Suite 520

Boston, Massachusetts 02110
  

 
  
  

Via Overnight Courier
  

ISO Claims Services, Inc.
 250 Berryhill Road

Columbia, South Carolina 29210
  

Via Overnight Courier
  

Interthinx, Inc.
 30005 Ladyface Circle

Agoura Hills, California 91301
  

Via Electronic Communication
  

Bank of America, N.A. (in its capacity as a Lender,
 the L/C
Issuer, and the Swing Line Lender)
 JPMorgan Chase Bank, N.A.

Wells Fargo Bank, N.A.
 SunTrust Bank

RBS Citizens, N.A.
 Morgan Stanley Bank, N.A.

TD Bank, N.A.
 Royal Bank of Canada

The Northern Trust Company
 HSBC Bank USA, N.A.

  
 [SECOND AMENDMENT –
LETTER AMENDMENT] 
 US_ACTIVE-114538708.5-RLMITRA 

 October 25, 2013 

 Page
 19
 
  

 SCHEDULE 1 

COMMITMENTS AND APPLICABLE PERCENTAGES 
  

									
	 Lender
	  	Commitment	 	  	Applicable
Percentage	 
	 Bank of America, N.A.
	  	$	205,000,000.00	  	  	 	21.025641026	% 
	 JPMorgan Chase Bank, N.A.
	  	$	165,000,000.00	  	  	 	16.923076923	% 
	 Wells Fargo Bank, N.A.
	  	$	150,000,000.00	  	  	 	15.384615385	% 
	 SunTrust Bank
	  	$	125,000,000.00	  	  	 	12.820512820	% 
	 RBS Citizens, N.A.
	  	$	110,000,000.00	  	  	 	11.282051282	% 
	 Morgan Stanley Bank, N.A.
	  	$	75,000,000.00	  	  	 	7.692307692	% 
	 TD Bank, N.A.
	  	$	55,000,000.00	  	  	 	5.641025641	% 
	 Royal Bank of Canada
	  	$	35,000,000.00	  	  	 	3.589743590	% 
	 The Northern Trust Company
	  	$	30,000,000.00	  	  	 	3.076923077	% 
	 HSBC Bank USA, N.A.
	  	$	25,000,000.00	  	  	 	2.564102564	% 
	 Total
	  	$	975,000,000.00	  	  	 	100.000000000	% 

  
 [SECOND AMENDMENT –
LETTER AMENDMENT] 
 US_ACTIVE-114538708.5-RLMITRA 

 October 25, 2013 

 Page
 20
 
  

 EXHIBIT “A” 

FORM OF RELEASE OF CO-BORROWER AND GUARANTORS 

Reference is hereby made to (i) that certain Amended and Restated Credit Agreement dated October 25, 2011 entered into by and among
Verisk Analytics, Inc., a Delaware corporation (hereinafter referred to as “Verisk”), and Insurance Services Office, Inc., a Delaware corporation (hereinafter referred to as “ISO”, and hereinafter Verisk and ISO
shall be collectively referred to as the “Co-Borrowers”), as co-borrowers, certain lenders (hereinafter collectively referred to as the “Lenders”), Bank of America, N.A., as swing line lender and letter of credit
issuer (hereinafter, Bank of America, in its capacity as letter of credit issuer, shall be referred to as “L/C Issuer”), Merrill Lynch, Pierce, Fenner & Smith Incorporated and J.P. Morgan Securities LLC, as joint lead
arrangers and joint book managers, JPMorgan Chase Bank, N.A., as syndications agent, Morgan Stanley Bank, N.A. and Wells Fargo Bank, N.A., as co-documentation agents, and Bank of America, N.A., as Agent for the Lenders (hereinafter, in such
capacity, referred to as the “Agent”), as previously amended and modified (hereinafter, as so amended and modified, referred to as the “Credit Agreement”), pursuant to which the Lenders have made available to the
Co-Borrowers a five (5) year amended and restated syndicated senior unsecured revolving credit facility in the amended aggregate maximum principal amount of up to $975,000,000.00 (hereinafter referred to as the “Facility”) and
(ii) that certain Amended and Restated Continuing Guaranty dated October 25, 2011 executed and delivered by (a) Xactware Solutions, Inc., a Delaware corporation, (b) ISO Services, Inc., a Delaware corporation, (c) ISO Claims
Services, Inc., a Delaware corporation, (d) AIR Worldwide Corporation, a Delaware corporation, (e) Verisk Health, Inc., a Massachusetts corporation, (f) Interthinx, Inc., a California corporation, (g) Verisk Health Solutions,
Inc., a Delaware corporation, and (h) ISO Staff Services, Inc., a Delaware corporation (hereinafter collectively referred to as the “Guarantors and individually referred to as a “Guarantor”), on a joint and
several basis, in favor of the Agent and the Lenders, as previously amended and modified (hereinafter, as so amended and modified, referred to as the “Guaranty”). Defined terms used but not expressly defined herein shall have
the same meanings when used herein as set forth in the Credit Agreement. 
 1. Release of Obligations under Credit Agreement and
Guaranty. The Agent, on behalf of itself and the Lenders, hereby forever fully releases and fully discharges (i) ISO from its obligations, responsibilities, duties, and liabilities in connection with the Credit Agreement and the Facility,
and ISO shall have no further obligations, responsibilities, duties, or liabilities under the Credit Agreement or any of the other Loan Documents from and after the date hereof, and (ii) each of the Guarantors from their respective obligations,
responsibilities, duties, and liabilities under the Guaranty, and the Guaranty shall be null, void, and of no further force or effect from and after the date hereof. Notwithstanding the foregoing to the contrary, nothing contained in this Release
shall in any way reduce, modify, alter, or otherwise diminish the obligations, responsibilities, duties, and liabilities of Verisk in connection with the Credit Agreement, the other Loan Documents, and/or the Facility, all of which obligations,
responsibilities, duties, and liabilities are hereby acknowledged, reaffirmed, and confirmed. 
 2. Waiver, Release and Indemnification
from the Agent and the Lenders. 
 (i) The Agent, on behalf of itself, the Lenders, and any Person claiming by, through, or under the
Agent or any of the Lenders, and their respective successors, assigns, affiliates, subsidiaries, parents, officers, shareholders, directors, employees, attorneys, agents, past, present, and future, and all of their respective heirs, executors,
administrators, successors, and assigns (hereinafter collectively referred to as the “Agent/Lender Releasors” and individually as an “Agent/Lender Releasor”), shall and hereby do fully, finally, unconditionally,
completely, and irrevocably remise, release, acquit, and forever discharge ISO (but not Verisk), the Guarantors, and their respective successors, assigns, partners, employees, trustees, administrators, attorneys, agents, and properties, past,
present, and future, and all of their respective heirs, executors, administrators, successors and assigns, as releasees (hereinafter collectively referred to as the “Verisk Releasees” and individually as a “Verisk
Releasee”), of and from any and all “Agent/Lender Claims” (as such term is defined in Paragraph 2(ii) below) which any of the Agent/Lender Releasors ever had, now has, or may have against any of the Verisk Releasees.

  
 [SECOND AMENDMENT –
LETTER AMENDMENT] 
 US_ACTIVE-114538708.5-RLMITRA 

 October 25, 2013 

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 (ii) The term “Agent/Lender Claims” shall mean any and all manner of
actions, disputes, causes of action, suits, debts, liabilities, liens, dues, accounts, bonds, covenants, contracts, agreements, promises, warranties, guaranties, representations, judgments, damages (whether direct or indirect, consequential,
special, exemplary, compensatory, or punitive), claims (including, without limitation, any claim for contribution or indemnity, and any claim based upon allegations of negligence, gross negligence, breach of fiduciary duty, breach of any alleged
duty of fair dealing in good faith, economic coercion, usury, tortious interference, or any other theory, cause of action, occurrence, matter, or thing which might result in liability upon any of the Verisk Releasees arising or occurring on or
before the date hereof), counterclaims, crossclaims, controversies, defenses, and/or demands of any and every type and nature whatsoever, including claims for contribution and/or indemnity, whether now known or unknown, suspected or unsuspected,
past or present, direct or indirect, asserted or unasserted, contingent or liquidated, concealed, hidden, latent, or patent, verbal or written, at law, by statute, or in equity, in contract or in tort, under state or Federal jurisdiction, or
resulting from any assignment, if any, and whether or not the economic effects of such alleged matters arise or are discovered in the future on account of, for, arising out of, or resulting from, or by reason of, any cause, matter, or thing
whatsoever, arising from the beginning of time through and including the date of execution of this Release, including, without limitation, any and all Agent/Lender Claims relating to or arising from the lending or any other relationship among the
Agent, the Lenders, ISO, the Guarantors, or any other Person in connection with the Facility. 
 (iii) Each Agent/Lender Releasor
understands, acknowledges, and agrees that the release set forth above may be pleaded as a full and complete defense and may be used as a basis for an injunction against any action, suit or other proceeding which may be instituted, prosecuted, or
attempted in breach of the provisions of such release. 
 (iv) Each Agent/Lender Releasor hereby covenants and agrees that no fact, event,
circumstance, evidence, or transaction which could now be asserted or which may hereafter be discovered shall affect in any manner the final, absolute, and unconditional nature of the release set forth above. 

(v) Each Agent/Lender Releasor understands and agrees that this is a full and final release of all Agent/Lender Claims of every nature and
kind whatsoever as described above, and that it releases Agent/Lender Claims that are known and unknown, suspected and unsuspected. 
 (vi)
The Agent/Lender Releasors each further agrees to indemnify and hold the Verisk Releasees harmless from any loss, damage, judgment, liability or expense (including attorneys’ fees) suffered by or rendered against any Verisk Releasees on account
of any such Agent/Lender Claims. The Agent/Lender Releasors further state that they have carefully read the foregoing release and indemnity, know the contents thereof and grant the same as their own free act and deed. 

 

  
 [SECOND AMENDMENT –
LETTER AMENDMENT] 
 US_ACTIVE-114538708.5-RLMITRA 

 October 25, 2013 

 Page
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 3. Waiver, Release and Indemnification from ISO and the Guarantors. 

(i) ISO and the Guarantors, for and on behalf of themselves and any Person claiming by, through, or under ISO or any of the Guarantors, and
their respective successors, assigns, attorneys, agents, past, present, and future, and all of their respective heirs, executors, administrators, successors, and assigns (hereinafter collectively referred to as the “Verisk
Releasors” and individually as a “Verisk Releasor”), shall and hereby do fully, finally, unconditionally, completely, and irrevocably remise, release, acquit, and forever discharge the Agent and the Lenders and their
respective successors, assigns, affiliates, subsidiaries, parents, officers, shareholders, directors, members, partners, employees, trustees, administrators, attorneys, agents, and properties, past, present, and future, and all of their respective
heirs, executors, administrators, successors and assigns, as releasees (hereinafter collectively referred to as the “Agent/Lender Releasees” and individually as an “Agent/Lender Releasee”), of and from any and all
“Verisk Claims” (as such term is defined in Paragraph 3(ii) below) which any of the Verisk Releasors ever had, now has, or may have against any of the Agent/Lender Releasees. 

(ii) The term “Verisk Claims” shall mean any and all manner of actions, disputes, causes of action, suits, debts,
liabilities, liens, dues, accounts, bonds, covenants, contracts, agreements, promises, warranties, guaranties, representations, judgments, damages (whether direct or indirect, consequential, special, exemplary, compensatory, or punitive), claims
(including, without limitation, any claim for contribution or indemnity, and any claim based upon allegations of negligence, gross negligence, breach of fiduciary duty, breach of any alleged duty of fair dealing in good faith, economic coercion,
usury, tortious interference, or any other theory, cause of action, occurrence, matter, or thing which might result in liability upon any of the Agent/Lender Releasees arising or occurring on or before the date hereof), counterclaims, crossclaims,
controversies, defenses, and/or demands of any and every type and nature whatsoever, including claims for contribution and/or indemnity, whether now known or unknown, suspected or unsuspected, past or present, direct or indirect, asserted or
unasserted, contingent or liquidated, concealed, hidden, latent, or patent, verbal or written, at law, by statute, or in equity, in contract or in tort, under state or Federal jurisdiction, or resulting from any assignment, if any, and whether or
not the economic effects of such alleged matters arise or are discovered in the future on account of, for, arising out of, or resulting from, or by reason of, any cause, matter, or thing whatsoever, arising from the beginning of time through and
including the date of execution of this Release, including, without limitation, any and all Verisk Claims relating to or arising from the lending or any other relationship amongst the Agent, the Lenders, ISO, the Guarantors, or any other Person in
connection with the Facility. 
 (iii) Each Verisk Releasor understands, acknowledges, and agrees that the release set forth above may be
pleaded as a full and complete defense and may be used as a basis for an injunction against any action, suit or other proceeding which may be instituted, prosecuted, or attempted in breach of the provisions of such release. 

(iv) Each Verisk Releasor hereby covenants and agrees that no fact, event, circumstance, evidence, or transaction which could now be asserted
or which may hereafter be discovered shall affect in any manner the final, absolute, and unconditional nature of the release set forth above. 

(v) Each Verisk Releasor understands and agrees that this is a full and final release of all Verisk Claims of every nature and kind whatsoever
as described above, and that it releases Verisk Claims that are known and unknown, suspected and unsuspected. 
 (vi) The Verisk Releasors
each further agrees to indemnify and hold the Agent/Lender Releasees harmless from any loss, damage, judgment, liability or expense (including attorneys’ fees) suffered by or rendered against any Agent/Lender Releasees on account of any such
Verisk Claims. The Verisk Releasors further state that they have carefully read the foregoing release and indemnity, know the contents thereof and grant the same as their own free act and deed. 

  
 [SECOND AMENDMENT –
LETTER AMENDMENT] 
 US_ACTIVE-114538708.5-RLMITRA 

 October 25, 2013 

 Page
 23
 
  

 4. Binding Effect. This Release shall be binding upon and inure to the benefit of the
parties hereto and their successors and assigns. 
 5. Governing Law. This Release shall be governed by and construed in accordance
with the laws of the State of New York. 
 6. Headings. The headings of the paragraphs of this Release are inserted for convenience
only and shall not be deemed to constitute a part of this Release. 
 7. Counterparts. This Release may be executed by one or more of
the parties to this Release on any number of separate counterparts, and all of said counterparts taken together shall be deemed to constitute one and the same instrument. 

[THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK; 

SIGNATURE PAGE FOLLOWS] 

  
 [SECOND AMENDMENT –
LETTER AMENDMENT] 
 US_ACTIVE-114538708.5-RLMITRA 

 October 25, 2013 

 Page
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		 	AGENT:
		
		 	BANK OF AMERICA, N.A., as the Agent
			
		 	By:	 	  

		 		 	Name:
		 		 	Title:
		
		 	CO-BORROWERS:
		
		 	VERISK ANALYTICS, INC., as a Co-Borrower
			
		 	By:	 	  

		 		 	        Mark V. Anquillare
		 		 	        Executive Vice President and
		 		 	        Chief Financial Officer
		
		 	INSURANCE SERVICES OFFICE, INC., as a Co-Borrower
			
		 	By:	 	  

		 		 	        Mark V. Anquillare
		 		 	        Executive Vice President and
		 		 	        Chief Financial Officer
	
	GUARANTORS:
		
		 	XACTWARE SOLUTIONS, INC., a Delaware corporation
		 	ISO SERVICES, INC., a Delaware corporation
		 	ISO CLAIMS SERVICES, INC., a Delaware corporation
		 	AIR WORLDWIDE CORPORATION, a Delaware corporation
		 	VERISK HEALTH, INC., a Massachusetts corporation
		 	INTERTHINX, INC., a California corporation
		 	VERISK HEALTH SOLUTIONS, INC., a Delaware corporation
			
		 	By:	 	  

		 		 	Mark V. Anquillare
		 		 	Vice President of Xactware Solutions, Inc.,
		 		 	        ISO Services, Inc.,
		 		 	        ISO Claims Services, Inc.,
		 		 	        AIR Worldwide Corporation, and
		 		 	        Interthinx, Inc.
		 		 	Vice President and Chief Financial Officer of
		 		 	        Verisk Health, Inc., and
		 		 	        Verisk Health Solutions, Inc.

  
 [SECOND AMENDMENT –
LETTER AMENDMENT] 
 US_ACTIVE-114538708.5-RLMITRA

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