Document:

Exhibit 10.1

    

     

    

    SHAREHOLDERS AGREEMENT

    

    

    This SHAREHOLDERS AGREEMENT (this “Agreement”), dated as of
        February 25, 2019, is between Westinghouse Air Brake Technologies Corporation, a Delaware corporation (the “Company”), and General Electric Company, a New York corporation
        (the “Shareholder” and, together with the Company and each Person that has executed and delivered to the Company a joinder to this Agreement in accordance with Section
        5.6, collectively, the “Parties”).

    

    

    RECITALS

    

    

    WHEREAS, pursuant to the Agreement and Plan of Merger, dated as of May 20, 2018 (as amended from time to time, the “Merger Agreement”), among the Shareholder, Transportation Systems Holdings Inc., a Delaware corporation and a wholly owned Subsidiary of the Shareholder (“SpinCo”), the Company and Wabtec US Rail Holdings, Inc., a Delaware corporation and wholly owned Subsidiary of the Company (“Merger
            Sub”), Merger Sub merged with and into SpinCo (the “Merger”) and, in connection with the Merger, SpinCo Common Stock was converted into the right to receive
        shares of common stock of the Company, par value $0.01 per share (“Common Shares”) and SpinCo Class C Preferred Stock was converted into the right to receive Common Shares
        and shares of Class A non-voting, convertible preferred stock of the Company (“Class A Preferred Shares”) on the terms and subject to the conditions set forth in the
        Merger Agreement, as amended on January 25, 2019;

    

    

    WHEREAS, pursuant to the Merger, the Shareholder became the Beneficial Owner of 19,018,207 Common Shares (the “Initial Shares”) and 10,000 Class A Preferred Shares (the “Initial Preferred Shares”); and

    

    

    WHEREAS, this Agreement sets forth certain rights and obligations of the Parties with respect to the Subject Shares and the Preferred
        Shares.

    

    

    NOW, THEREFORE, the Parties agree as follows:

    

    

    ARTICLE I

    Definitions; Interpretive Matters

    

    

    Section 1.1          Defined Terms.  Capitalized terms used herein but not defined shall have the meanings ascribed to them in the Merger Agreement.  In addition to the terms defined elsewhere in this Agreement, the
        following terms have the meanings indicated when used in this Agreement with initial capital letters:

    

    

    “1933 Act” means the Securities Act of 1933, together with the
        rules and regulations promulgated thereunder.

    

    

    “1934 Act” means the Securities Exchange Act of 1934, together
        with the rules and regulations promulgated thereunder.

    
      
        

    

    
    

    

    “Additional Preferred Shares” means any Class A Preferred
        Shares issued or issuable directly or indirectly with respect to or on account of the Initial Preferred Shares, including Class A Preferred Shares issued by way of share dividend or distribution, stock split or other subdivision or in a combination
        of stock, recapitalization, reclassification, merger, amalgamation, consolidation or similar capital transactions.

    

    

    “Additional Shares” means any equity securities (other than
        Class A Preferred Shares) of the Company issued or issuable directly or indirectly with respect to or on account of the Initial Shares or the Preferred Shares, including Common Shares issued by way of share dividend or distribution, stock split or
        other subdivision or in a combination of stock, recapitalization, reclassification, merger, amalgamation, consolidation or similar capital transactions; provided
        that, Additional Shares shall not include any Common Shares issued upon conversion of any Preferred Shares.

    

    

    “Average VWAP” means, for any date of determination, the
        average of the Daily VWAPs for the ten consecutive trading days ending on and including the trading day that is two trading days prior to the date of determination.

    

    

    “Beneficial Owner,” “Beneficially Own” and “Beneficial Ownership” have the meanings given to those terms in Rule 13d-3 under the 1934 Act, and
        a Person’s beneficial ownership of securities will be calculated in accordance with the provisions of such Rule; provided that, for purposes of this
        Agreement, Shareholder Parties that Beneficially Own Preferred Shares are understood to “Beneficially Own” the Common Shares underlying such Preferred Shares.

    

    

    “Board” means the Board of Directors of the Company.

    

    

    “Change of Control” means an event or series of events by
        which (a) any “person” or “group” (within the meaning of Section 13(d)(3) of the 1934 Act) directly or indirectly becomes the Beneficial Owner of 50% or more of the outstanding Common Shares, (b) all or substantially all of the consolidated assets
        of the Company are sold, exchanged or otherwise transferred to any “person” or “group” (within the meaning of Section 13(d)(3) of the 1934 Act), (c) the Company is consolidated, merged, amalgamated, reorganized or otherwise enters into a similar
        transaction in which it is combined with another Person, unless the Persons who Beneficially Own the outstanding Common Shares immediately before consummation of the transaction Beneficially Own a majority of the outstanding voting securities of
        the combined, resulting or surviving entity (or any parent entity of such entity) immediately thereafter, (d) the Company’s shareholders approve of any plan or proposal for the liquidation or dissolution of the Company, or (e) the Continuing
        Director Termination Date occurs.

    

    

    “Company Closing Share Count” means the number of Common
        Shares of the Company outstanding immediately after the closing on a Fully Diluted Post-Merger Basis.

    
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    “Confidential Information” means all confidential and
        proprietary information and data of the Company or any of its Subsidiaries disclosed or otherwise made available to the Shareholder Parties or any representative thereof (together, for this purpose, a “Recipient”) pursuant to the terms of this Agreement, whether disclosed electronically, orally or in writing or through other methods made available to the Recipient. Notwithstanding the foregoing, for purposes of
        this Agreement, Confidential Information will not include any information (a) already in the public domain at the date of the transmission, or which has become generally available to the public other than as a result of a disclosure by the
        Recipient in breach of this Agreement, (b) in the Recipient’s possession and which is not, or was not at the time of acquisition of possession, to the Recipient’s actual knowledge, covered by any confidentiality agreements between the Recipient, on
        the one hand, and the Company or any of its Subsidiaries, on the other hand, (c) which the Recipient may receive on a non-confidential basis from a third party and which is not, to the Recipient’s actual knowledge, covered by a confidentiality
        agreement with the Company or any of its respective Subsidiaries or (d) that was provided prior to the date hereof and is subject to the Confidentiality Agreement or the confidentiality restrictions set forth in the Merger Agreement, Separation
        Agreement or any Ancillary Agreement.

    

    

    “Continuing Director” means, as of any date of determination,
        any member of the Board who (a) is a member of the Board as of the date hereof, (b) was appointed to the Board pursuant to the Merger Agreement or (c) was nominated for election or elected to the Board with the approval of a majority of the
        directors who were members of the Board at the time of such nomination or election.

    

    

    “Continuing Director Termination Date” means the date on which
        a majority of the Board no longer consists of Continuing Directors.

    

    

    “Daily VWAP” means, for any given trading day, the volume
        weighted average of the trading prices of Common Shares on the Principal Exchange (as reported by Bloomberg L.P. or, if not reported therein, in another authoritative source selected in good faith by the Board) on such trading day.

    

    

    “Existing Faiveley Agreement” means the Shareholders
        Agreement, dated October 6, 2015, among Wabtec Corporation and the Faiveley Parties.

    

    

    “Faiveley Parties” means Erwan Faiveley, Francois Faiveley,
        Financiére Faiveley S.A. and Famille Faiveley Participations S.A.S.

    

    

    “Faiveley Registration Rights” means the registration rights
        included in the Existing Faiveley Agreement.

    

    

    “First Anniversary Sell Down Amount” means 35,539,073 Common
        Shares Beneficially Owned by the Shareholder Parties (equal to 18.5% of the Company Closing Share Count).

    

    

    “First Tranche Maximum” means 19,210,310 Common Shares
        Beneficially Owned by the Shareholder Parties (equal to 10% of the Company Closing Share Count).

    

    

    “First Tranche Minimum” means 9,605,155 Common Shares
        Beneficially Owned by the Shareholder Parties (equal to 5% of the Company Closing Share Count).

    
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    “First Tranche Pricing Date” means the date on which an
        underwriting agreement or other contract is entered into for sale by the Shareholder Parties of the First Tranche Shares.

    

    

    “Law” means any federal, state or local law (statutory, common
        or otherwise), constitution, treaty, convention, ordinance, code, rule, regulation, directive, order, injunction, judgment, decree, ruling or other similar requirement enacted, adopted, promulgated, enforced or applied by a Governmental Authority.

    

    

    “Market Disruption Event” means (a) a suspension of the
        trading of or material limitation on the price for the Common Shares a lack of any trades in Company Common Shares during a trading day, (b) a general suspension of trading in, or material limitation on prices for, securities on NYSE or the NASDAQ
        Global Market for a period of more than one business day, (c) the declaration of a banking moratorium or any suspension of payments in respect of banks in the United States (whether or not mandatory), or (d) any decline in any of the Dow Jones
        Industrial Average, the Standard and Poor’s Index of 500 Industrial Companies or the NASDAQ Computer Index by an amount in excess of 10% during any five trading day period.

    

    

    “Material Disclosure Event” means (a) a material transaction
        which the Company or any of its Subsidiaries is in good faith considering, proposes to engage in or is engaged in, including a purchase or sale of assets or securities, financing, merger, consolidation, tender offer or other material corporate
        development or (b) any other material non-public event or development, in each case with respect to which the Board determines in good faith that compliance with Article IV may reasonably be expected to either (x) materially and adversely interfere
        with the Company’s or such Subsidiary’s ability to enter into or consummate such transaction (in the case of clause (a)) or require the Company to disclose material, non-public information in a manner (including as to timing) that would materially
        and adversely impact the Company or (y) breach a confidentiality undertaking entered into by the Company or any of its Subsidiaries prior to the date hereof.

    

    

    “Permitted Transferee” means any Affiliate of a Shareholder
        Party, provided that, solely with respect to any proposed Transfer of Preferred Shares, such Affiliate shall not be a permitted transferee if such Transfer would cause such Preferred Stock to convert into Common Shares.

    

    

    “Preferred Shares” means, collectively, (i) the Initial
        Preferred Shares and (ii) any Additional Preferred Shares.

    

    

    “Principal Exchange” means the New York Stock Exchange or, if
        the Common Shares cease to be traded on the New York Stock Exchange, such other exchange on which the Common Shares are traded and designated as such by the Board.

    
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    “Public Offering” means any primary or secondary public
        offering of Common Shares and/or Preferred Shares pursuant to a Registration Statement under the 1933 Act, other than pursuant to a Registration Statement on Form S-4 or Form S-8 or any successor or similar form.

    

    

    “Registrable Securities” means, as of any date of
        determination, all Subject Shares or Preferred Shares Beneficially Owned by a Shareholder Party and, prior to conversion of a Preferred Share, any Common Shares issuable upon conversion thereof; provided, however, that such securities will cease to be Registrable Securities (i) when such securities have been
        sold or transferred by the applicable Shareholder Party and are no longer Beneficially Owned by any Shareholder Party or (ii) if such securities have ceased to be outstanding.

    

    

    “Registration Statement” means a registration statement filed
        with the SEC on which it is permissible to register securities for sale to the public under the 1933 Act.

    

    

    “Second Tranche Pricing Date” means the date on which an
        underwriting agreement or other contract is entered into by the Shareholder Parties for sale of the Second Tranche Shares.

    

    

    “Shareholder Parties” means the Shareholder and any of its
        Permitted Transferees that holds Subject Shares or Preferred Shares and has executed and delivered to the Company a joinder to this Agreement in accordance with Section 5.6.

    

    

    “Subject Shares” means, collectively, (i) the Initial Shares
        and (ii) any Additional Shares.

    

    

    “Subsequent Tranche Maximum” means 14,407,733 Common Shares
        Beneficially Owned by the Shareholder Parties (equal to 7.5% of the Company Closing Share Count).

    

    

    Section 1.2          Other Definitional and Interpretative Provisions.  The words “hereof,” “herein” and “hereunder” and words of like import used in this Agreement shall refer to this Agreement as a whole and not to
        any particular provision of this Agreement.  The captions herein are included for convenience of reference only and shall be ignored in the construction or interpretation hereof.  References to Articles and Sections are to Articles and Sections of
        this Agreement unless otherwise specified.  Any singular term in this Agreement shall be deemed to include the plural, and any plural term the singular.  Whenever the words “include,” “includes” or “including” are used in this Agreement, they shall
        be deemed to be followed by the words “without limitation,” whether or not they are in fact followed by those words or words of like import.  “Writing,” “written” and comparable terms refer to printing, typing and other means of reproducing words
        (including electronic media) in a visible form.  References to any statute, law or regulation shall be deemed to refer to such statute, law or regulation as amended from time to time and to any rules or regulations promulgated thereunder. 
        References to any Person include the successors and permitted assigns of that Person.  References from or through any date mean, unless otherwise specified, from and including or through and including, respectively.  The word “extent” in the phrase
        “to the extent” shall mean the degree to which a subject or other theory extends and such phrase shall not mean “if”.  The Parties have participated jointly in the negotiation and drafting of this Agreement and, in the event an ambiguity or
        question of intent or interpretation arises, this Agreement shall be construed as jointly drafted by the Parties and no presumption or burden of proof shall arise favoring or disfavoring any Party by virtue of the authorship of any provision of
        this Agreement.  The terms “or,” “any” and “either” are not exclusive, except to the extent expressly provided otherwise.

    
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    Section 1.3          Actions by Shareholder.  Unless otherwise expressly provided herein, any action permitted or contemplated to be taken by any Shareholder Party (a “Shareholder Action”) will be by written notice of the Shareholder (acting on behalf of the Shareholder Parties) furnished to the Company pursuant to Section 5.3. The Company will have no obligation to inquire as to the
        validity of any such written action so provided and may conclusively rely thereon.

    

    

    ARTICLE II

    Corporate Governance Rights

    

    

    Section 2.1          Confidentiality.  Each Shareholder Party will, and will cause its Representatives to, (a) keep confidential all Confidential Information received by it from the Company or any of its Affiliates
        (including pursuant to Section 2.4), (b) not disclose or reveal any such information to any Person without the prior written consent of the Company other than to such Shareholder Party’s Representatives whom such Shareholder Party determines in
        good faith need to know such information for the purpose of evaluating, monitoring or taking any other action with respect to the investment by such Shareholder Party in the Company, and (c) use its reasonable best efforts to cause its
        Representatives to observe the terms of this Section 2.1 as if they were Parties to this Agreement; provided, however, that nothing herein will prevent any Shareholder Party from disclosing any information that is required to be disclosed by Law so long as, prior to such disclosure, such Shareholder Party,
        unless prohibited by Law, uses its reasonable efforts to notify the Company of any such disclosure, uses reasonable efforts (at the Company’s sole expense) to limit the disclosure to only those portions that are required to be disclosed under such
        Law and maintains the confidentiality of such other information to the maximum extent permitted by Law.

    

    

    Section 2.2          Standstill Restrictions.  From the date of this Agreement and until the earlier of (i) the later of (x) the 24-month anniversary of the Closing Date and (y) the 3-month anniversary of the date on
        which the Shareholder Parties first cease to Beneficially Own any Subject Shares or Class A Preferred Shares and (ii) a Change of Control (the “Expiration Date”), the
        Shareholder Parties will not, and will cause all of their respective Subsidiaries and controlled Affiliates not to, directly or indirectly through another Person, unless expressly invited in a writing with the approval of a majority of the
        directors on the Board:

    

    

    (a)          acquire, offer to acquire or agree to acquire, by
        purchase or otherwise, Beneficial Ownership of Common Shares or Class A Preferred Shares or any other security, including any cash-settled option or other derivative security that transfers all or any portion of the economic benefits or risks of
        the ownership of Common Shares to any Person, other than the acquisition of any Additional Shares or Additional Preferred Shares;

    
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    (b)          make any statement or proposal to the Company or any of
        the Company’s stockholders regarding, or make any public announcement, proposal or offer (including any “solicitation” of “proxies” as such terms are defined or used in Regulation 14A of the 1934 Act) with respect to, or otherwise solicit or
        effect, or seek or offer or propose to effect (whether directly or indirectly, publicly or otherwise) (i) any business combination, merger, tender offer, exchange offer or similar transaction involving the Company or any of its Subsidiaries that
        may reasonably be expected to result in a Change of Control, (ii) any restructuring, recapitalization, liquidation, dissolution or similar transaction involving the Company or any of its Subsidiaries, including any material divestiture, break-up or
        spinoff, (iii) any acquisition of any equity securities of the Company or any of its Subsidiaries or rights or options to acquire interests in the equity securities of the Company or any of its Subsidiaries, or (iv) the composition of or election
        of any individual to the Board, except as permitted by this Agreement (and as may be required by applicable Law in connection therewith);

    

    

    (c)          enter into any discussions, negotiations, arrangements
        or understandings with any third Person with respect to the actions prohibited by Section 2.2(a) or Section 2.2(b), or form, join or participate in a “group” (within the meaning of Section 13(d)(3) of the 1934 Act) with respect to the Common Shares
        or Class A Preferred Shares in connection with any of the actions prohibited by Section 2.2(a) or Section 2.2(b);

    

    

    (d)          request, call or seek to call a meeting of the
        stockholders of the Company, nominate any individual for election as a director of the Company at any meeting of stockholders of the Company, submit any stockholder proposal (pursuant to Rule 14a-8 promulgated under the 1934 Act or otherwise) to
        seek representation on the Board or any other proposal to be considered by the stockholders of the Company, or recommend that any other Company stockholders vote in favor of, or otherwise publicly comment favorably or unfavorably about, or solicit
        votes or proxies for, any such nomination or proposal submitted by another stockholder of the Company, or otherwise publicly seek to control or influence the Board, management or policies of the Company;

    

    

    (e)          deposit any Subject Shares, Preferred Shares or any
        other Common Shares in a voting trust or similar arrangement or subject any Subject Shares, Preferred Shares or any other Common Shares to any voting agreement, pooling arrangement or similar arrangement (in each case other than as contemplated in
        this Agreement or solely among a group comprised solely of the Shareholder Parties and their respective controlled Affiliates); or

    

    

    (f)          take any action which would reasonably be expected to
        require the Company to make a public announcement regarding (including any public filing) any of the actions prohibited by this Section 2.2;

    
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    provided that the foregoing limitations will (i) not preclude any
        confidential proposal made to the Board that is expressly conditioned upon the maintenance of the confidentiality thereof, (ii) in no way limit the activities of any Person appointed to the Board pursuant to the terms of the Merger Agreement taken
        in his or her capacity as a director of the Company or (iii) not preclude the exercise of any rights received as a dividend or other distribution (x) in a rights offering or other issuance in respect of any Subject Shares or (y) pursuant to the
        terms of the Preferred Shares.  If, after the date hereof and prior to the Expiration Date, the Company enters into any agreement with any of the Faiveley Parties with standstill provisions that are less favorable to the Company in the aggregate
        than the provisions contained in this Section 2.2 (or if the Company amends or waives the standstill provisions in the Existing Faiveley Agreement in a manner such that the standstill provisions thereunder are less favorable to the Company in the
        aggregate than the provisions contained in this Section 2.2), the Company shall notify the Shareholder Parties of the terms of such standstill provisions as soon as reasonably practicable after the execution (or amendment or waiver) of such
        agreement, and in which case this Section 2.2 shall if elected by the Shareholder Parties be amended to be no more favorable to the Company than the enforceable (after giving effect to any waiver) standstill provisions contained in such third party
        agreement.  The Company represents and warrants that, as of the date hereof, it is not party to any agreement with any of the Faiveley Parties containing standstill provisions other than those set forth in the Existing Faiveley Agreement.  For the
        avoidance of doubt, the expiration of the standstill obligations under the Existing Faiveley Agreement in accordance with its current terms shall not be deemed to be an amendment or waiver of the Existing Faiveley Agreement.

    

    

    Section 2.3          Voting Agreement.  For as long as the Shareholder Parties hold any Subject Shares, with respect to any matter presented for a vote of the Company’s stockholders, each Shareholder Party will vote all
        Subject Shares that it Beneficially Owns and over which it maintains sole voting power in the same proportion as the votes cast by all Common Shares not Beneficially Owned by the Shareholder Parties on such matter.  For purposes of the preceding
        sentence, a Shareholder Party will be deemed to have “sole” voting power over any Subject Shares if it shares voting power over the Subject Shares solely with other Shareholder Parties.

    

    

    Section 2.4          Access.  So long as the Shareholder Parties, in the aggregate, hold at least 5% of the then-outstanding Common Shares, the Company shall meet with representatives of the Shareholder Parties at such
        times as the Shareholder Parties may reasonably request (which meetings may be in person or telephonic, provided that the Company will not be required to meet more with such Representatives any more often than once per calendar quarter, and for no
        more than two hours at a time).  The Company shall furnish to the Shareholder Parties such financial and operating data and other information relating to the Company and its Subsidiaries as such Persons may reasonably request in light of the
        investment they hold in the Company.

    
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    ARTICLE III

    Transfer of Shares

    

    

    Section 3.1          Required Divestiture by First Anniversary.  Subject to the Company’s material compliance with its obligations and covenants in Sections 4.1, 4.2 and 4.3 hereof, on or prior to the date that is 12
        months following the Closing Date (the “First Anniversary Sell Down Date”), and without limiting the obligations of the Shareholder Parties under Section 3.5(b), the
        Shareholder Parties will sell, transfer or otherwise divest in compliance with the terms of this Article III a sufficient quantity of Subject Shares and/or Preferred Shares such that as of such first anniversary, the Shareholder Parties shall
        Beneficially Own a number of Common Shares less than the First Anniversary Sell Down Amount.  Notwithstanding anything to the contrary in this Section 3.1, if any event of the type contemplated in any of Section 4.1(c), 4.1(d), 4.2(b), 4.3(c) or
        4.4(g) or request pursuant to Section 4.8 occurs (each, a “Registration Delay Event”) or is continuing within the 20 trading days prior to the First Anniversary Sell Down
        Date, and, as a result, the Shareholder Parties are prevented from either registering or divesting a sufficient number of Subject Shares and/or Preferred Shares to comply with this Section 3.1 during such 20 trading day period, the First
        Anniversary Sell Down Date shall automatically be extended by a number of days equal to the number of days during which such prevention persists.

    

    

    Section 3.2          First Tranche.

    

    

    (a)          For a period of 30 days following the Closing Date, the
        Shareholder Parties will not, directly or indirectly through another Person, offer, sell, contract to sell or otherwise dispose of (or enter into any transaction which is designed to, or might reasonably be expected to, result in the disposition
        (whether by actual disposition or effective economic disposition due to cash settlement or otherwise)), including establishing or increasing a put equivalent position, or liquidating or decreasing a call equivalent position within the meaning of
        Section 16 of the 1934 Act with respect to, any Subject Shares, any Preferred Shares or any securities convertible into, or exercisable or exchangeable for Subject Shares or Preferred Shares, or publicly announce an intention to effect any such
        transaction (collectively, “Transfer”); provided that such prohibition shall not
        (x) prevent (A) the filing of a Registration Statement pursuant to an exercise of the Shareholder Parties’ rights under Section 4.1 or 4.3 or (B) the participation in a Piggyback Registration pursuant to an exercise of the Shareholder Parties’
        rights under Section 4.2 or (y) apply to Transfers (i) to Permitted Transferees, (ii) pursuant to a bona fide third party tender offer or exchange offer or
        (iii) pursuant to any merger or other similar business combination transaction effected by the Company.

    

    

    (b)          Subject to the Company’s material compliance with its
        obligations and covenants in Sections 4.1, 4.2 and 4.3 hereof, on or prior to the date that is 120 days following the Closing Date (the “First Tranche Sell Down Date”),
        the Shareholder Parties shall sell, transfer or otherwise divest, in a single transaction or offering or series of related transactions or offerings consummated on the same date, Subject Shares and/or Preferred Shares (the “First Tranche Shares”) that they Beneficially Own comprising and/or convertible into a number of Common Shares (i) greater than or equal to the First Tranche Minimum and (ii) less than or equal
        to the First Tranche Maximum, unless the Company consents in writing to a greater amount (which consent may be withheld by the Company in its sole discretion).  Notwithstanding anything to the contrary in this Section 3.2(b), if a Registration
        Delay Event occurs or is continuing within the 20 trading days prior to the First Tranche Sell Down Date, and, as a result, the Shareholder Parties are prevented from either registering or divesting the First Tranche Shares during such 20 trading
        day period, the First Tranche Sell Down Date shall automatically be extended by a number of days equal to the number of days during which such prevention persists.

    
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    Section 3.3          Second Tranche.

    

    

    (a)          For a period of six months following the First Tranche
        Pricing Date, the Shareholder Parties will not Transfer any Subject Shares, any Preferred Shares or any securities convertible into, or exercisable or exchangeable for Subject Shares or Preferred Shares; provided that such prohibition shall not (x) prevent (A) the filing of a Registration Statement pursuant to an exercise of the Shareholder Parties’ rights under Section 4.1 or 4.3 or (B) the
        participation in a Piggyback Registration pursuant to an exercise of the Shareholder Parties’ rights under Section 4.2 or (y) apply to Transfers (i) to Permitted Transferees, (ii) pursuant to a bona fide third party tender offer or exchange offer or (iii) pursuant to any merger or other similar business combination transaction effected by the Company.

    

    

    (b)          On or after the date that is six months after the First
        Tranche Pricing Date, the Shareholder Parties may sell, transfer or otherwise divest, in a single transaction or offering or series of related transactions or offerings consummated on the same date, Subject Shares and/or Preferred Shares (the “Second Tranche Shares”) that they Beneficially Own comprising and/or convertible into a number of Common Shares less than or equal to the Subsequent Tranche Maximum, unless
        the Company consents in writing to a greater amount (which consent may be withheld by the Company in its sole discretion).

    

    

    Section 3.4          Remaining Shares.

    

    

    (a)          For a period of three months following the Second
        Tranche Pricing Date, the Shareholder Parties will not Transfer any Subject Shares, any Preferred Shares or any securities convertible into, or exercisable or exchangeable for Subject Shares or Preferred Shares; provided that such prohibition shall not (x) prevent (A) the filing of a Registration Statement pursuant to an exercise of the Shareholder Parties’ rights under Section 4.1 or 4.3 or (B)
        the participation in a Piggyback Registration pursuant to an exercise of the Shareholder Parties’ rights under Section 4.2 or (y) apply to Transfers (i) to Permitted Transferees, (ii) pursuant to a bona fide third party tender offer or exchange offer or (iii) pursuant to any merger or other similar business combination transaction effected by the Company.

    

    

    (b)          On or after the date that is three months after the
        Second Tranche Pricing Date, the Shareholder Parties may sell, transfer or otherwise divest all of the Subject Shares and the Preferred Shares that they Beneficially Own, at any
        time and from time to time, in any manner not prohibited by this Agreement; provided, that the Shareholder Parties shall not sell, transfer or otherwise
        divest Subject Shares and/or Preferred Shares comprising and/or convertible into a number of Common Shares greater than the Subsequent Tranche Maximum in a single transaction or offering or series of related transactions or offerings, unless the
        Company consents in writing to a greater amount (which consent may be withheld by the Company in its sole discretion).

    
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    (c)          By no later than the third anniversary of the Closing
        Date (the “Final Sell-Down Date”), the Shareholder Parties will sell, transfer or otherwise divest all of the Subject Shares and the Preferred Shares that they
        Beneficially Own; provided that the Final Sell-Down Date will be extended by 60 calendar days if a Market Disruption Event has occurred and is continuing
        within 10 trading days of the original Sell-Down Date.

    

    

    Section 3.5          Miscellaneous.

    

    

    (a)          Except as provided in Section 3.1 through Section 3.4,
        neither the Subject Shares nor Preferred Shares shall be subject to transfer restrictions pursuant to this Agreement; provided that the Shareholder Parties
        shall not Transfer any Subject Shares or Preferred Shares, in each case (or any combination thereof) constituting, in the aggregate (on an as-if converted basis), more than 1.0% of the outstanding Common Shares to any “person” or “group” (in each
        case within the meaning of Section 13(d) of the 1934 Act), in a single transaction or series of related transactions, if such Shareholder Party actually knows, after making such inquiry as such Shareholder Party determines to be reasonable under
        the circumstances, that such “person” or “group” holds 2.0% or more of the outstanding Common Shares prior to the Transfer; provided, further, that such prohibition shall not apply to, and for the avoidance of doubt no inquiry shall be required in connection with, Transfers (i) to Permitted
        Transferees, (ii) pursuant to a bona fide tender offer or exchange offer, (iii) pursuant to any merger or other similar business combination transaction
        effected by the Company, (iv) to an underwriter in connection with a Public Offering, (v) in an open market transaction effected through a broker-dealer, (vi) to a broker-dealer in a block sale so long as such broker-dealer makes block trades in
        the ordinary course of its business, or (vii) to (A) a registered investment fund, (B) a separately managed account not associated with a hedge fund, (C) a pension fund, or (D) a shareholder of the Company as of March 31, 2018.

    

    

    (b)          Notwithstanding anything to the contrary in this
        Agreement, if, as of the date that is seven calendar days prior to the First Anniversary Sell-Down Date (the “Testing Date”), any of the Shareholder Parties holds Common
        Shares and/or Class A Preferred Shares that would cause SpinCo or the Company to have, on the First Anniversary Sell-Down Date, a relationship to any of the Shareholder Parties that is described in Treasury Regulations section 1.197-2(h)(6)(i),
        solely by reason of such Shareholder Parties’ ownership of such Common Shares and/or Class A Preferred Shares and disregarding any action taken by the Company after the date hereof (a “Relationship”),

        then the Shareholder Parties shall, after receipt of written notice provided by the Company on or after the Testing Date to the effect that it elects to exercise its right set forth in this Section 3.5(b), sell to the Company on the First
        Anniversary Sell Down Date a number of Common Shares and/or Class A Preferred Shares representing a number of Common Shares specified in such notice (in each case, free and clear of all claims, liens, charges or encumbrances), for an amount per
        share equal to the Average VWAP (and calculating the amount per share for the Class A Preferred Shares on an as-if converted basis), reasonably necessary to ensure that, in the reasonable good faith judgment of the Company, after consultation with
        counsel, no Relationship exists after such purchase.

    
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    ARTICLE IV.

    Registration Rights

    

    

    Section 4.1          Registration on Request. (a)  Subject to the Shareholder’s material compliance with its obligations under Section 6.05(a) of the Merger Agreement and subject to Section 4.1(c), if at any time
        following the Closing Date, the Company receives a written request (a “Registration Request”) from any Shareholder Party by Shareholder Action that the Company file a
        Registration Statement covering the registration of Common Shares or Class A Preferred Shares, in each case (or any combination thereof), having an aggregate market value (based on Average VWAP and calculating, with respect to Preferred Shares, on
        an as-if converted basis) of at least $100.0 million as of the date of such Registration Request, then the Company shall use reasonable best efforts to, as expeditiously as possible, effect the registration of such portion of the Registrable
        Securities set forth in such Registration Request, together with any securities required to be included in such Registration Statement(s) pursuant to the Faiveley Registration Rights, in accordance with the intended method of distribution stated in
        such Registration Request, pursuant to a Registration Statement, to the extent necessary to permit the disposition of the Registrable Securities to be so registered. Each Registration Request pursuant to this Section 4.1 must be in writing and
        specify the number of Registrable Securities requested to be registered and the intended method of distribution. Notwithstanding the foregoing, the Company will not be obligated to file a Registration Statement requested pursuant to this Section
        4.1:

    

    

    (i)          within a period of 90 calendar days
        after the date of delivery of any other Registration Request pursuant to this Section 4.1;

    

    

    (ii)          during such time as the Shareholder
        Parties may sell Registrable Securities, in accordance with the intended method of distribution stated in the Registration Request, pursuant to a Shelf Registration Statement under Section 4.3;

    

    

    (iii)          on a total of more than three
        occasions in any calendar year (if, on each such occasion, the registration shall have been deemed to have been effected in accordance with Section 4.1(b) of this Agreement);

    

    

    (iv)          in any particular jurisdiction in
        which the Company would be required to execute a general consent to service of process in effecting such registration, qualification or compliance, unless the Company is already subject to service of process in such jurisdiction and except as may
        be required by the 1933 Act; or

    
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    (v)          if the Shareholder Parties propose to
        dispose of Registrable Securities that may be registered at such time pursuant to a Registration Statement contemplated in Section 4.2.

    

    

    (b)          A registration requested pursuant to this Section 4.1
        will not be deemed to have been effected unless the Registration Statement has become effective; provided, however, that if, within the period ending on the earlier to occur of (i) 90 days after the applicable Registration Statement has become effective (provided, that such period will be extended for a period of time equal to the period the holder of Registrable Securities refrains from selling any securities included in such Registration Statement at the
        request of the Company or the lead managing underwriter(s) pursuant to the provisions of this Agreement) and (ii) the date on which the distribution of the securities covered thereby has been completed, the offering of securities pursuant to such
        Registration Statement is interfered with by any stop order, injunction or other order or requirement of the SEC or other Governmental Authority, such Registration Statement will be deemed not to have been effected; provided, further, that if the requesting Shareholder Parties, after exercising their right to
        request a registration pursuant to this Section 4.1 withdraw from a registration so requested after the filing thereof, such registration will be deemed to have been effective with respect to the Shareholder Parties in accordance with this Section
        4.1.

    

    

    (c)          Subject to Section 4.2, if, within five Business Days of
        the Company’s receipt of a Registration Request, the requesting Shareholder Parties are advised in writing (the “Underwriter’s Advice”) that the Company has in good faith
        commenced the preparation of a Registration Statement for an underwritten Public Offering in which the Shareholder Parties received a Piggyback Notice in accordance with this Agreement prior to receipt by the Company of such Registration Request
        and the managing underwriter of the proposed Public Offering has determined that, in such firm’s judgment, a registration at the time and on the terms requested would materially and adversely affect such underwritten Public Offering, then the
        Company will not be required to effect such requested registration pursuant to this Section 4.1 until the earliest of:

    

    

    (i)          the abandonment of such underwritten
        Public Offering by the Company;

    

    

    (ii)          45 days after receipt of the
        Underwriter’s Advice by the Shareholder Parties, unless the Registration Statement for such offering has become effective and such Public Offering has commenced on or prior to such 45th day; and

    

    

    (iii)          if the Registration Statement for
        such Public Offering has become effective and such Public Offering has commenced on or prior to such 45th day, the day on which the restrictions on the Shareholder
        Parties contained in the related lock-up agreement lapse with respect to such Public Offering.

    
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    Notwithstanding the foregoing, the Company will not be permitted to defer a registration requested pursuant to this Section 4.1 in reliance on this Section
        4.1(c) more than once in any 365-day period.

    

    

    (d)          The Company may postpone the filing or effectiveness of
        any Registration Statement and suspend the Shareholder Parties’ use of any prospectus which is a part of the Registration Statement (in which event the Shareholder Parties will discontinue sales of the Registrable Securities pursuant to the
        Registration Statement) for a period of up to an aggregate of 60 days, and no more than once, in any 365-day period, exclusive of days covered by any lock-up agreement executed by the Shareholder Parties in connection with any underwritten Public
        Offering after the request for registration pursuant to this Section 4.1 if the Company delivers to the Shareholder Parties a certificate signed by either the chief executive officer or the chief financial officer of the Company certifying that the
        conditions constituting a Material Disclosure Event exist at such time.

    

    

    (e)          The Company will have the right to cause the
        registration of additional securities for sale for the account of any Person other than the Shareholder Parties (including the Company) in any registration requested pursuant to this Section 4.1 to the extent the managing underwriter or other
        independent marketing agent for such offering (if any) determines that, in its judgment, the additional securities proposed to be sold will not materially and adversely affect the offering and sale of the Registrable Securities to be registered,
        and otherwise to the extent required by the Faiveley Registration Rights, in accordance with the intended method or methods of disposition then contemplated by such registration requested pursuant to this Section 4.1.

    

    

    (f)          Any time a registration requested pursuant to this Section 4.1 involves an underwritten Public Offering, the requesting Shareholder Parties will, after consultation in good faith with the Company, select the investment banker(s) and
        manager(s) that will serve as managing underwriters (including which such managing underwriters will serve as lead or co-lead) and underwriters with respect to the offering of such Registrable Securities; provided, that such investment banker(s) and manager(s) are reasonably acceptable to the Company (such acceptance not to be unreasonably withheld, conditioned or delayed); provided, further, that in connection with an underwritten Public Offering of the First
        Tranche Shares, the Company shall have the right to (i) select one managing underwriter to serve as co-lead with the title of “Global Coordinator” for such offering and (ii) to determine and control, in consultation with the Shareholder Parties,
        the marketing strategy for such offering; it being understood that the Shareholder Parties shall have the right to select one or more additional managing underwriter(s) to serve as co-lead(s) with the title of “Global Coordinator” for such
        offering.

    

    

    (g)          If a holder of Registrable Securities makes a Registration Request that comprises an offer to exchange Registrable Securities for any securities issued by it or any other Person (an “Exchange Offer Registration”), the Company shall effect the registration of such offer to exchange on Form S-4, any similar successor form or any other form permitted under the Securities Act for such Exchange Offer
        Registration.

    
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    Section 4.2          Piggyback Registration.  (a)  Subject to the Shareholder’s material compliance with its obligations under Section 6.05(a) of the Merger Agreement, if, after the Closing Date, the Company proposes or
        is required to file a Registration Statement under the 1933 Act or any other securities Laws with respect to an offering of any Common Shares, whether or not for sale for its own account (other than a Registration Statement (i) on Form S-4, Form
        S-8 or any similar form under non-U.S. Laws or (ii) filed solely in connection with any employee benefit or dividend reinvestment plan), then the Company will give prompt written notice of such proposed filing at least 10 Business Days before the
        anticipated filing date (the “Piggyback Notice”) to the Shareholder Parties. Such Piggyback Notice must specify the number of Common Shares proposed to be registered, the
        proposed date of filing of such Registration Statement with the SEC, the proposed means of distribution, the proposed managing underwriter(s) (if any) and a good faith estimate by the Company of the proposed minimum offering price of such Common
        Shares. The Piggyback Notice will offer the Shareholder Parties the opportunity to include in such Registration Statement the number of Registrable Securities as it may request (a “Piggyback

            Registration”), subject to Section 4.2(b). The Company will include in each such Piggyback Registration all Registrable Securities with respect to which the Company has received a written request for inclusion therein from any
        Shareholder Party (without need for Shareholder Action), subject to Section 4.2(b). The Shareholder Parties will be permitted to withdraw all or part of the Registrable Securities from a Piggyback Registration at any time at least three Business
        Days prior to the effective date of the Registration Statement relating to such Piggyback Registration. The Company will be required to maintain the effectiveness of the Registration Statement for a Piggyback Registration for a period of 60 days
        after the effective date thereof or such shorter period during which all Registrable Securities included in such Registration Statement have actually been sold.

    

    

    (b)          If the managing underwriter or underwriters of a proposed underwritten offering advise the Company and the holders of such Registrable Securities that, in their judgment, because of the size of the offering which the Shareholder
        Parties, the Company and/or such other Persons (as applicable) intend to make, the success of the offering would be materially and adversely affected by inclusion of the number of Registrable Securities requested to be included (taking into
        account, in addition to any considerations that the managing underwriter or underwriters reasonably deem relevant, the timing and manner to effect the offering), then the number of Registrable Securities to be offered for the account of the
        Shareholder Parties shall be reduced to the extent necessary (i) to reduce the total amount of securities to be included in such offering to the amount recommended by such managing underwriter or underwriters or (ii) to the extent necessary to
        comply with the requirements of the  Faiveley Registration Rights; provided that if Common Shares and/or Class A Preferred Shares are being offered for the
        account of Persons other than the Company, then the Common Shares and/or Class A Preferred Shares intended to be offered for the account of such other Persons shall, except to the extent not permitted by the Faiveley Registration Rights, be reduced
        pro rata to the extent necessary to permit the Shareholder Parties to include all of its Registrable Securities in such offering.

    
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    Section 4.3          Shelf Registration.  (a)  Subject to the Shareholder’s material compliance with its obligations under Section 6.05(a) of the Merger Agreement, if at any time following the Closing Date, subject to
        the availability of registration on Form S-3 or any successor form thereto (“Form S-3”) to the Company, the Company receives a written request (a “Shelf Notice”) from any Shareholder Party, then the Company will use reasonable best efforts to, as expeditiously as possible, file and cause to be declared effective by the SEC, a Registration
        Statement on Form S-3 providing for an offering to be made on a continuous basis pursuant to Rule 415 under the 1933 Act (the “Shelf Registration Statement”) relating to
        the offer and sale from time to time through agents, underwriters or dealers, directly to purchasers, or through a combination of any of these methods of sale, at fixed prices, prevailing market prices, at prices related to prevailing market prices
        or at privately negotiated prices, of all or any portion of the Registrable Securities then Beneficially Owned by the Shareholder Parties; provided that if
        the Company remains a well-known seasoned issuer (as defined in Rule 405 under the 1933 Act), a Shelf Notice will not be required and the Company will file, in order that such Shelf Registration Statement is effective on the date of the two-month
        anniversary of the Closing Date, a Shelf Registration Statement in the form of an automatic shelf registration statement (as defined in Rule 405 under the 1933 Act) or any successor form thereto registering an offering to be made on a continuous or
        delayed basis pursuant to Rule 415 under the 1933 Act relating to the offer and sale, from time to time through agents, underwriters or dealers, directly to purchasers, or through a combination of any of these methods of sale, at fixed prices,
        prevailing market prices, at prices related to prevailing market prices or at privately negotiated prices, of all or any portion of the Registrable Securities then held by the Shareholder Parties.

    

    

    (b)          Subject to Section 4.1(d), the Company will use
        reasonable best efforts to keep the Shelf Registration Statement continuously effective, including by renewing the Shelf Registration Statement, until the earlier of (i) three years after the Shelf Registration Statement first becomes effective and
        (ii) the date on which all Registrable Securities covered by the Shelf Registration Statement have been sold thereunder in accordance with the plan and method of distribution disclosed in the prospectus included in the Shelf Registration Statement,
        or otherwise cease to be Registrable Securities.

    

    

    (c)          The Company will be entitled, from time to time, by
        providing written notice to the holders of Registrable Securities who elected to participate in the Shelf Registration Statement, to require such holders of Registrable Securities to suspend the use of the prospectus for sales of Registrable
        Securities under the Shelf Registration Statement for a period of up to an aggregate of 60 calendar days, and no more than once, in any 365-day period, exclusive of days covered by any lock-up agreement executed by the Shareholder Parties in
        connection with any underwritten Public Offering if the Company delivers to the Shareholder Parties a certificate signed by either the chief executive officer or the chief financial officer of the Company certifying that the conditions constituting
        a Material Disclosure Event exist at such time.  Following the earlier of (i) the termination of the conditions constituting a Material Disclosure Event and (ii) 60 calendar days following delivery of the notice certifying the existence of a
        Material Disclosure Event, without any further request from a holder of Registrable Securities, the Company to the extent necessary will use reasonable best efforts to, as expeditiously as possible, prepare a post-effective amendment or supplement
        to the Shelf Registration Statement or the prospectus, or any document incorporated therein by reference, or file any other required document so that, as thereafter delivered to purchasers of the Registrable Securities included therein, the
        prospectus will not include an untrue statement of a material fact or omit to state any material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading.

    
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    (d)          At any time that a Shelf Registration Statement is
        effective, if any Shareholder Party holding Registrable Securities delivers a notice to the Company (a “Take-Down Notice”) stating that it intends to sell all or part of
        its Registrable Securities included by it on the Shelf Registration Statement in an underwritten Public Offering (a “Shelf Offering”), then, the Company will, as
        expeditiously as possible, amend or supplement the Shelf Registration Statement as may be necessary in order to enable such Registrable Securities to be distributed pursuant to the Shelf Offering (taking into account the inclusion of securities
        pursuant to the Faiveley Registration Rights). In connection with any Shelf Offering that is an underwritten Public Offering and where the plan of distribution set forth in the Take-Down Notice includes a customary “road show” (including an
        “electronic road show”) involving substantial marketing efforts by the Company and the underwriters (a “Marketed Underwritten Shelf Offering”):

    

    

    (i)          the Company will forward the
        Take-Down Notice to all other Persons, if any, included on the Shelf Registration Statement pursuant to the Faiveley Registration Rights and the Company will permit each such Person to include its securities included on the Shelf Registration
        Statement in the Marketed Underwritten Shelf Offering if such holder notifies the Company within five days after delivery of the Take-Down Notice to such Person; and

    

    

    (ii)          if the managing underwriter(s)
        advises the Company and the holders of Registrable Securities that, in its opinion, the inclusion of all of the securities sought to be sold in connection with such Marketed Underwritten Shelf Offering would materially and adversely affect the
        success thereof, then there will be included in such Marketed Underwritten Shelf Offering only such securities as is advised by such lead managing underwriter(s) can be sold without such effect, and such number of Registrable Securities shall be
        allocated in the same manner as described in Section 4.2(b).

    

    

    For the avoidance of doubt: (x) an underwritten Public Offering involving a sale to a broker-dealer in a block sale so long as such
        broker-dealer makes block trades in the ordinary course of its business shall not constitute a Marketed Underwritten Shelf Offering and (y) an underwritten Public Offering that involves representatives of the Company or the underwriters having
        discussions with potential investors in connection with the underwritten Public Offering, but without a customary “roadshow”, shall not constitute a Marketed Underwritten Shelf Offering.

    
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    Section 4.4          Registration Procedures.  If and whenever the Company is required to use reasonable best efforts to effect the registration of any Registrable Securities under the 1933 Act as provided herein, the
        Company covenants that:

    

    

    (a)          before filing a Registration Statement (which for
        purposes of this Section 4.4 includes any Shelf Registration Statement) or any amendments or supplements thereto, the Company will furnish to the Shareholder Parties and their respective Representatives copies of all such documents proposed to be
        filed, which documents will be subject to their review and reasonable comment, and other documents reasonably requested by any Shareholder Party, including any comment letter from the SEC, and, if requested, provide the Shareholder Parties and
        their respective Representatives reasonable opportunity to participate in the preparation of such documents proposed to be filed and such other opportunities to conduct a reasonable investigation within the meaning of the 1933 Act, including
        reasonable access to the Company’s officers, accountants and other advisors;

    

    

    (b)          subject to terms and conditions of this Article IV, the
        Company will prepare and file with the SEC a Registration Statement with respect to such Registrable Securities on any form for which the Company then qualifies or which counsel for the Company in good faith deems appropriate and which form will be
        available for the sale of such Registrable Securities in accordance with the intended methods of distribution thereof, use its best efforts to cause such Registration Statement to become and remain effective for the period referred to accordance
        with this Article IV and comply with the provisions of the 1933 Act with respect to the disposition of all securities covered by such Registration Statement;

    

    

    (c)          the Company will prepare and file with the SEC or other
        Governmental Authority having jurisdiction such amendments and supplements to such Registration Statement as may be necessary to keep such Registration Statement effective continuously for the period referred to in accordance with this Article IV;

    

    

    (d)          if requested by the managing underwriter(s), if any, or
        any Shareholder Party, the Company will promptly prepare a prospectus supplement or post-effective amendment and include in such prospectus supplement or post-effective amendment such information as the lead managing underwriter(s), if any, and any
        Shareholder Party may reasonably request in order to permit the intended method of distribution of such securities and make all required filings of such prospectus supplement or such post-effective amendment as expeditiously as possible after the
        Company has received such request;

    
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    (e)          the Company will furnish to the managing underwriter(s),
        if any, and the Shareholder Parties such number of copies, without charge, of such Registration Statement, each amendment and supplement thereto, including each preliminary prospectus, final prospectus, any other prospectus (including any
        prospectus filed under Rule 424, Rule 430A or Rule 430B under the 1933 Act and any “issuer free writing prospectus” as such term is defined under Rule 433 promulgated under the 1933 Act), all exhibits and other documents filed therewith and such
        other documents as any Shareholder Party may reasonably request including in order to facilitate the disposition of its Registrable Securities;

    

    

    (f)          the Company will register or qualify such Registrable
        Securities under such other securities or blue sky Laws of such jurisdictions as any Shareholder Party or managing underwriter(s), if any, reasonably requests and do any and all other acts and things that may be reasonably necessary or reasonably
        advisable to enable each Shareholder Party to consummate the disposition in such jurisdictions of the Registrable Securities owned by such Shareholder Party, provided
        that the Company will not be required to (i) qualify generally to do business in any jurisdiction where it would not otherwise be required to qualify but for this subsection, (ii) subject itself to taxation in any such jurisdiction, or (iii)
        consent to general service of process in any such jurisdiction;

    

    

    (g)          the Company will notify the Shareholder Parties at any
        time when a prospectus relating to the Registrable Securities is required to be delivered under the 1933 Act, upon discovery that, or upon the discovery of the happening of any event as a result of which, the prospectus contains an untrue statement
        of a material fact or omits any fact necessary to make the statements therein not misleading in the light of the circumstances under which they were made, and, as soon as reasonably practicable, prepare and furnish to the Shareholder Parties a
        reasonable number of copies of a supplement or amendment to such prospectus so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus will not contain an untrue statement of a material fact or omit to state
        any fact necessary to make the statements therein not misleading in the light of the circumstances under which they were made;

    

    

    (h)          the Company will notify the Shareholder Parties (i) when
        such Registration Statement or the prospectus or any prospectus supplement or post-effective amendment has been filed and, with respect to such Registration Statement or any post-effective amendment, when the same has become effective, (ii) of any
        request by the SEC or other Governmental Authority for amendments or supplements to such Registration Statement or to amend or to supplement such prospectus or for additional information, and (iii) of the issuance by the SEC or other Governmental
        Authority of any stop order suspending the effectiveness of such Registration Statement or the initiation of any proceedings for any of such purposes;

    

    

    (i)          the Company will cause all such Registrable Securities
        (other than Class A Preferred Shares) to be listed on each securities exchange on which similar securities issued by the Company are then listed, if applicable;

    

    

    (j)          the Company will provide a transfer agent and registrar
        for all such Registrable Securities not later than the effective date of such Registration Statement;

    
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    (k)          the Company will make available for inspection by the
        Shareholder Parties and their counsel, any underwriter participating in any disposition pursuant to such Registration Statement and any attorney, accountant or other agent retained by any Shareholder Party or any underwriter, all financial and
        other books and records, pertinent corporate documents and documents relating to the business of the Company and customarily provided in a secondary offering, and cause the Company’s officers, directors, employees and independent accountants to
        supply all information reasonably requested by any Shareholder Party or any underwriter, attorney, accountant or agent in connection with such Registration Statement, provided that it will be a condition to such inspection and receipt of such information that the inspecting Person (i) enter into a confidentiality agreement in form and substance reasonably satisfactory to the Company and (ii)
        agree to use commercially reasonable efforts to minimize the disruption to the Company’s business in connection with the foregoing;

    

    

    (l)          the Company will, if requested, obtain a “comfort”
        letter or letters from the Company’s independent public accountants in customary form and covering matters of the type customarily covered by “comfort” letters as any Shareholder Party reasonably requests;

    

    

    (m)          the Company will, if requested, obtain a legal opinion
        and “10b-5” disclosure letter of the Company’s outside counsel in customary form and covering such matters of the type customarily covered by legal opinions or “10b-5” disclosure letters of such nature and reasonably satisfactory to the requesting
        Shareholder Party, which opinion or “10b-5” disclosure letter will be addressed to any underwriters and such Shareholder Party;

    

    

    (n)          the Company will, if applicable, reasonably cooperate
        with the Shareholder Parties and each underwriter or agent participating in the disposition of such Registrable Securities and their respective counsel in connection with any filings required to be made with the Financial Industry Regulatory
        Authority, and any other agencies or authorities as may be reasonably necessary to enable the Shareholder Parties to consummate the disposition of such Registrable Securities;

    

    

    (o)          the Company will enter into such agreements (including
        an underwriting agreement in form, scope and substance as is customary in underwritten offerings) and use its reasonable best efforts to take all such other actions reasonably requested by any Shareholder Party therewith (including those reasonably
        requested by the managing underwriter(s), if any) to expedite or facilitate the disposition of such Registrable Securities, and in such connection, whether or not an underwriting agreement is entered into and whether or not the registration is an
        underwritten Public Offering, (i) make such representations and warranties to the Shareholder Parties and the underwriters, if any, with respect to the business of the Company, and the Registration Statement, prospectus and documents, if any,
        incorporated or deemed to be incorporated by reference therein, in each case, in form, substance and scope as are customarily made by issuers in underwritten offerings, and, if true, confirm the same if and when requested, (ii) to the extent an
        underwriting agreement or similar agreement is entered into, provide an indemnity to the Shareholder Parties and the underwriters in form, scope and substance as is customary in underwritten offerings, and (iii) deliver such documents and
        certificates as reasonably requested by any Shareholder Party and the lead managing underwriters(s), if any, to evidence the continued validity of the representations and warranties made pursuant to sub-clause (i) above and to evidence compliance
        with any customary conditions contained in the underwriting agreement or other agreement entered into by the Company, in each case as and to the extent required thereunder;

    
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    (p)          the Company will use reasonable best efforts to obtain
        the withdrawal of any order suspending the effectiveness of any Registration Statement filed pursuant to this Article IV, or the lifting of any suspension of the qualification (or exemption from qualification) of any of the Registrable Securities
        for sale in any jurisdiction at the earliest reasonable practicable date, provided that the Company will not be required to (i) qualify generally to do business in any jurisdiction where it would not otherwise be required to qualify but for this
        subsection, (ii) subject itself to taxation in any such jurisdiction, or (iii) consent to general service of process in any such jurisdiction; and

    

    

    (q)          the Company will endeavor in good faith to have
        appropriate officers of the Company prepare and make presentations at a reasonable and customary number of “road shows” and before analysts and rating agencies, as the case may be, and other information meetings reasonably organized by the
        underwriters and otherwise use reasonable best efforts to cooperate as reasonably requested by the Shareholder Parties and the underwriters in the offering, marketing or selling of the Registrable Securities.

    

    

    Section 4.5          Provision of Information.  As a condition to registering Registrable Securities under this Article IV, (a) the Shareholder shall have complied in all material respects with its obligations under
        Section 6.05(a) of the Merger Agreement and (b) each Shareholder Party will furnish the Company such information regarding such Shareholder Party and pertinent to the disclosure requirements relating to the registration and the distribution of such
        securities as the Company may from time to time reasonably request in writing.

    

    

    Section 4.6          Registration Expenses.  (a) Subject to Section 4.6(b), all expenses incidental to the Company’s performance of or compliance with this Agreement, including all registration and filing fees, word
        processing, duplicating and printing expenses, messenger and delivery expenses, and fees and disbursements of counsel for the Shareholder Parties (all such expenses, “Registration
            Expenses”) will be borne by the Shareholder Parties. The Shareholder Parties will pay all underwriting discounts, selling commissions and transfer taxes applicable to the sale of Registrable Securities hereunder.

    

    

     (b)          The Company will, in any event, pay its internal
        expenses (including all salaries and expenses of its officers and employees performing legal or accounting duties), the expenses of any annual audit or quarterly review and, if applicable, the expenses and fees for listing the securities to be
        registered on each securities exchange on which similar securities issued by the Company are then listed, and the fees and disbursements of counsel for the Company and all independent certified public accountants and other Persons retained by the
        Company.

    
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    Section 4.7          Shareholder Participation.  (a) No Shareholder Party may participate in any registration hereunder that is underwritten unless such Shareholder Party (i) agrees to sell its Registrable Securities on
        the basis provided in any underwriting arrangements approved by it (including pursuant to the terms of any over-allotment or “green shoe” option requested by the managing underwriter(s), provided that such Shareholder Party will not be required to sell more than the number of Registrable Securities that such Shareholder Party has requested the Company to include in any registration), (ii)
        completes and executes all questionnaires, powers of attorney, indemnities, underwriting agreements, lock-up or holdback agreements and other documents reasonably required under the terms of such underwriting arrangements and customary in a Public
        Offering, so long as such provisions are substantially the same for all selling shareholders, and (iii) uses commercially reasonable efforts to cooperate with the Company’s reasonable requests in connection with such registration or qualification.
        Notwithstanding the foregoing, the liability of any Shareholder Party or any transferee participating in such an underwritten registration will be limited to an amount equal to the amount of net proceeds attributable to the sale of such Shareholder
        Party’s Registrable Securities in such registration.

    

    

    (b)          Each Shareholder Party agrees that, in connection with
        any registration hereunder, upon receipt of any notice from the Company of the happening of any event of the kind described in Section 4.4(g), such Shareholder Party will forthwith discontinue the disposition of its Registrable Securities pursuant
        to the Registration Statement until such Shareholder Party receives copies of a supplemented or amended prospectus as contemplated by such Section 4.4(g). In the event the Company gives any such notice, the applicable time period during which a
        Registration Statement is to remain effective under this Article IV shall be extended by the number of days during the period from and including the date of the giving of such notice pursuant to this Section 4.7(b) to and including the date on
        which the Shareholder Parties will have received the copies of the supplemented or amended prospectus contemplated by Section 4.4(g).

    

    

    Section 4.8          Holdback.  (a)  In consideration for the Company agreeing to its obligations under this Agreement, the Shareholder Parties agree that in the event of an underwritten offering by the Company (whether
        or not such Person is participating in such registration), upon the request of the Company and the managing underwriter(s), on the same terms to which all directors and officers agree, not to effect (other than pursuant to such underwritten
        offering, in accordance with this Agreement) any public sale or distribution of Registrable Securities or make any short sale of, loan, grant any option for the purchase of, or otherwise dispose of any Registrable Securities, any other equity
        securities of the Company or any securities convertible into or exchangeable or exercisable for any equity securities of the Company, without the prior written consent of the Company or the managing underwriter(s), as the case may be, during such
        period as may be required by the managing underwriter(s); provided, that in no event shall such period exceed more than 60 days following the date of the
        prospectus used in connection with such offering.

    
      22

      
        

    

    (b)          If any Shareholder Party notifies the Company in writing
        that it intends to effect an underwritten sale under a Shelf Registration Statement pursuant to this Article IV, the Company shall not effect any public sale or distribution of its equity securities, or any securities convertible into or
        exchangeable or exercisable for its equity securities (other than pursuant to registrations on Form S-4 or Form S-8 or any successor form or to the extent required pursuant to the Faiveley Registration Rights), without the prior written consent of
        the managing underwriter(s) during such period as may be required by the managing underwriter(s); provided, that in no event shall such period exceed more
        than 60 days following the date of the prospectus used in connection with such offering.

    

    

    Section 4.9          Indemnification.  (a)  The Company agrees to indemnify and hold harmless, to the fullest extent permitted by Law, the Shareholder Parties and their respective Affiliates and their and their
        Affiliates’ respective officers, directors, employees, managers and agents and each Person who controls (within the meaning of Section 15 of the 1933 Act and Section 20 of the 1934 Act) any Shareholder Party or such other indemnified Person and the
        officers, directors, employees, managers and agents of each such controlling Person, each underwriter, if any, and each Person who controls (within the meaning of Section 15 of the 1933 Act and Section 20 of the 1934 Act) such underwriter, from and
        against all losses, claims, damages, liabilities, costs, expenses (including reasonable expenses of investigation and reasonable attorneys’ fees and expenses), judgments, fines, penalties, charges and amounts paid in settlement (collectively, the “Losses”), as incurred, arising out of, caused by, resulting from or relating to any untrue statement (or alleged untrue statement) of a material fact contained in any
        Registration Statement or Shelf Registration Statement filed pursuant to this Article IV, and any prospectus or preliminary prospectus or issuer free writing prospectus or any amendment or supplement thereto or any omission (or alleged omission) of
        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 and (without limitation of the preceding portions of this Section 4.9(a)) will
        reimburse each Shareholder Party, each of its Affiliates, and each of its and their respective officers, directors, employees, managers and agents and each such Person who controls such Shareholder Party and the officers, directors, employees,
        managers and agents of each such controlling Person, each such underwriter and each such Person who controls any such underwriter, for any legal and any other expenses reasonably incurred in connection with investigating and defending or settling
        any such claim, Loss, damage, liability or action, except insofar as the same are caused by any information furnished in writing to the Company by any other party expressly for use therein.

    
      23

      
        

    

    (b)          In connection with any Registration Statement or Shelf
        Registration Statement in which a Shareholder Party is participating the Shareholder shall indemnify the Company, its directors and officers, and each Person who controls (within the meaning of Section 15 of the 1933 Act and Section 20 of the 1934
        Act) the Company, from and against all Losses, as incurred, arising out of, caused by, resulting from or relating to any untrue statement (or alleged untrue statement) of material fact contained in the Registration Statement or Shelf Registration
        Statement, or any prospectus or preliminary prospectus or issuer free writing prospectus or any amendment or supplement thereto or any omission (or alleged omission) of 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, and (without limitation of the preceding portions of this Section 4.9(b)) will reimburse the Company, its directors and officers and each Person who
        controls the Company (within the meaning of Section 15 of the 1933 Act and Section 20 of the 1934 Act) for any legal and any other expenses reasonably incurred in connection with investigating and defending or settling any such claim, Loss, damage,
        liability or action, in each case solely to the extent, but only to the extent, that such untrue statement or omission is made in such Registration Statement or Shelf Registration Statement, or any prospectus or preliminary prospectus or issuer
        free writing prospectus or any amendment or supplement thereto in reliance upon and in conformity with written information furnished to the Company by the Shareholder Parties for inclusion in such Registration Statement or Shelf Registration
        Statement, prospectus or preliminary prospectus or issuer free writing prospectus or any amendment or supplement thereto.  Notwithstanding the foregoing, no Shareholder Party will be liable under this Section 4.9(b) for amounts in excess of the net
        proceeds received by such Shareholder Party in the offering giving rise to such liability.

    

    

    (c)          Any Person entitled to indemnification hereunder will
        give prompt written notice to the indemnifying party of any claim with respect to which it seeks indemnification; provided, however, the failure to give such notice will not release the indemnifying party from its obligation, except to the extent that the indemnifying party has been actually and materially
        prejudiced by such failure to provide such notice on a timely basis.

    

    

    (d)          In any case in which any such action is brought against
        any indemnified party, and it notifies an indemnifying party of the commencement thereof, the indemnifying party will be entitled to participate therein, and, to the extent that it may wish, to assume the defense thereof, with counsel reasonably
        satisfactory to such indemnified party, and after notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof and acknowledging the obligations of the indemnifying party with respect to such
        proceeding, the indemnifying party will not (so long as it shall continue to have the right to defend, contest, litigate and settle the matter in question in accordance with this paragraph) be liable to such indemnified party hereunder for any
        legal or other expense subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation, supervision and monitoring (unless (i) such indemnified party reasonably objects to such
        assumption on the grounds that there may be defenses available to it which are different from or in addition to the defenses available to such indemnifying party and, as a result, a conflict of interest exists or (ii) the indemnifying party will
        have failed within a reasonable period of time to assume such defense and the indemnified party is or would reasonably be expected to be materially prejudiced by such delay, in either event the indemnified party will be promptly reimbursed by the
        indemnifying party for the reasonable expenses incurred in connection with retaining one separate legal counsel (for the avoidance of doubt, for all indemnified parties in connection therewith)). For the avoidance of doubt, notwithstanding any such
        assumption by an indemnifying party, the indemnified party will have the right to employ separate counsel in any such matter and participate in the defense thereof, but the fees and expenses of such counsel will be at the expense of such
        indemnified party except as provided in the previous sentence. An indemnifying party will not be liable for any settlement of an action or claim effected without its consent (which consent shall not be unreasonably withheld, conditioned or
        delayed). No matter may be settled by an indemnifying party without the consent of the indemnified party (which consent shall not be unreasonably withheld, conditioned or delayed), unless such settlement (i) includes as an unconditional term
        thereof the giving by the claimant or plaintiff to such indemnified party of a release from all liability in respect to such claim or litigation, (ii) does not include any statement as to or any admission of fault, culpability or a failure to act
        by or on behalf of any indemnified party and (iii) does not involve any injunctive or equitable relief that would be binding on the indemnified party or any payment that is not covered by the indemnification hereunder.

    
      24

      
        

    

    (e)          The indemnification provided for under this Agreement
        shall survive the disposal of the Registrable Securities and the termination of this Agreement.

    

    

    ARTICLE V

    Miscellaneous

    

    

    Section 5.1          Termination.  This Agreement will terminate, except for this Article V and as otherwise provided in this Agreement, with respect to each Shareholder Party, at the time at which such Shareholder Party
        ceases to Beneficially Own any Subject Shares or Preferred Shares or, if earlier, upon the written agreement of the Company and such Shareholder Party.

    

    

    Section 5.2          Expenses.  Except as otherwise expressly provided herein (including in Section 4.6) or in the Merger Agreement, all expenses incurred in connection with this Agreement and the transactions
        contemplated hereby will be paid by the Party incurring such expenses.

    
      25

      
        

    

    

    

    Section 5.3          Notice.  All notices, requests, demands and other communications to any Party hereunder shall be in writing (including facsimile transmission and e-mail transmission, so long as a receipt of such
        e-mail is requested and received) and shall be given:

    

    

    	 	 	 	 	 
	

          	 (a)	
            If to the Company, to:

          
	 	 	 	 	 
	 	 	 	
            Westinghouse Air Brake Technologies Corporation

          
	 	 	 	
            1001 Air Brake Avenue

          
	 	 	 	
            Wilmerding, Pennsylvania

          
	 	 	 	
            Attention: David L. DeNinno

          
	 	 	 	
            Facsimile No.: (412) 825-1305

          
	 	 	 	
            E-mail: ddeninno@wabtec.com

          
	 	 	 	 	 
	 	 	
            With a copy to:

          
	 	 	 	 	 
	 	 	 	
            Jones Day

          
	 	 	 	
            250 Vesey Street

          
	 	 	 	
            New York, New York 10281

          
	 	 	 	
            Attention:

          	
            Robert A. Profusek

          
	 	 	 	 	
            Peter E. Izanec

          
	 	 	 	
            Facsimile No.:

          	
            (212) 755-7306

          
	 	 	 	
            E-mail:

          	
            raprofusek@jonesday.com

          
	 	 	 	 	
            peizanec@jonesday.com

          
	 	 	 	 	 
	

          	 (b)	
            If to the Shareholder:

          
	 	 	 	 
	 	 	 	
            General Electric Company

          
	 	 	 	
            33-41 Farnsworth Street

          
	 	 	 	
            Boston, MA 02210

          
	 	 	 	
            Attention: James M. Waterbury

          
	 	 	 	
            Facsimile No.: (203) 286-1656

          
	 	 	 	
            E-mail: jim.waterbury@ge.com

          
	 	 	 	 	 
	 	 	
            With a copy to:

          
	 	 	 	 	 
	 	 	 	
            Davis Polk & Wardwell LLP

          
	 	 	 	
            450 Lexington Avenue

          
	 	 	 	
            New York, New York 10017

          
	 	 	 	
            Attention:

          	
            William L. Taylor

          
	 	 	 	 	
            Lee Hochbaum

          
	 	 	 	
            Facsimile No.:

          	
            (212) 701-5800

          
	 	 	 	
            E-mail:

          	
            William.taylor@davispolk.com

          
	 	 	 	 	
            lee.hochbaum@davispolk.com

          

    

    

    or to such other address or facsimile number as such Party may hereafter specify for the purpose by notice to the other Parties.  All such notices, requests
        and other communications shall be deemed received on the date of receipt by the recipient thereof if received prior to 5:00 p.m. on a Business Day.  Otherwise, any such notice, request or communication shall be deemed to have been received on the
        next succeeding Business Day.

    

    

    Section 5.4          Governing Law; Jurisdiction; Waiver of Jury Trial.  (a)  This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware, without regard to the conflicts of law
        rules of such state

    
      26

      
        

    

    (b)          The Parties agree that any litigation, suit, proceeding,
        or action seeking to enforce any provision of, or based on any matter arising out of or in connection with, this Agreement or the transactions contemplated hereby (whether brought by any Party or any of its Affiliates or against any Party or any of
        its Affiliates) shall be brought in the Delaware Chancery Court or, if such court shall not have jurisdiction, any federal court located in the State of Delaware or other Delaware state court, and each of the Parties hereby irrevocably consents to
        the jurisdiction of such courts (and of the appropriate appellate courts therefrom) in any such litigation, suit, proceeding, or action and irrevocably waives, to the fullest extent permitted by law, any objection that it may now or hereafter have
        to the laying of the venue of any such litigation, suit, proceeding, or action in any such court or that any such litigation, suit, proceeding, or action brought in any such court has been brought in an inconvenient forum.  Process in any such
        litigation, suit, proceeding, or action may be served on any party anywhere in the world, whether within or without the jurisdiction of any such court.  Without limiting the foregoing, each Party agrees that service of process on such party as
        provided in Section 5.3 shall be deemed effective service of process on such Party.

    

    

    (c)          EACH OF THE PARTIES HEREBY IRREVOCABLY WAIVES ANY AND
        ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.

    

    

    Section 5.5          Specific Performance.  The Parties agree that irreparable damage would occur, and that the Parties would not have any adequate remedy at law, in the event that any of the provisions of this
        Agreement were not performed in accordance with their specific terms (including failing to take such actions as are required of them hereunder to consummate the transactions contemplated hereby) or were otherwise breached.  It is accordingly agreed
        that the Parties shall be entitled to an injunction or injunctions to prevent breaches of this Agreement and to specifically enforce the terms and provisions of this Agreement, without proof of actual damages or otherwise, in addition to any other
        remedy to which any Party is entitled at law or in equity.  Each Party agrees to waive any requirement for the securing or posting of any bond in connection with such remedy.  The Parties further agree not to assert that a remedy of specific
        enforcement is unenforceable, invalid, contrary to law or inequitable for any reason, nor to assert that a remedy of monetary damages would provide an adequate remedy.

    

    

    Section 5.6          Successors and Assigns; Assignment.  Except as otherwise expressly provided herein (a) the provisions hereof will inure to the benefit of, and be binding upon, the successors, permitted assigns,
        heirs, executors and administrators of the Parties and (b) no Party may assign, delegate or otherwise transfer any of its rights or obligations under this Agreement without the consent of each other Party; provided that the Shareholder Parties may assign such rights and delegate such obligations to a Permitted Transferee in connection with any Transfer of Subject Shares or Class A
        Preferred Shares to such Permitted Transferee.  Each Permitted Transferee that receives a Transfer of Subject Shares or Class A Preferred Shares shall be required, at the time of and as a condition to such Transfer, as applicable, to become a party
        to this Agreement by executing and delivering to the Company a joinder to this Agreement, which joinder shall be in a form reasonably acceptable to the Company, whereupon such Permitted Transferee shall be treated as a “Shareholder Party” for all
        purposes of this Agreement.

    
      27

      
        

    

    Section 5.7          Amendment and Waiver.  No amendment, waiver or other modification of, or consent under, any provision of this Agreement will be effective against the Company unless it is approved in writing by the
        Company, and no amendment, waiver or other modification of, or consent under, any provision of this Agreement will be effective against any Shareholder Party unless it is approved in writing by Shareholder Action; provided, further, that notwithstanding the foregoing, (x) the addition of a Permitted
        Transferee as a party hereto will not constitute an amendment hereto and may be effected by the execution of a joinder or counterpart hereto executed by the Company and such Permitted Transferee and (y) any amendment effected in accordance with the
        penultimate sentence of Section 2.2 shall require only the election specified therein. No waiver of any breach of any provision herein contained will be deemed a waiver of any preceding or succeeding breach thereof or of any other provision herein
        contained. The failure or delay of any of the Parties to assert any of its rights or remedies under this Agreement will not constitute a waiver of such rights nor will it preclude any other or further exercise of the same or of any other right or
        remedy.

    

    

    Section 5.8          No Third-Party Beneficiaries.  This Agreement is for the sole benefit of the Parties, their permitted assigns and nothing herein expressed or implied will give or be construed to give any Person,
        other than the Parties, such permitted assigns, any legal or equitable rights hereunder.

    

    

    Section 5.9          Entire Agreement.  This Agreement, the Merger Agreement, the Separation Agreement and the Transaction Agreements (as defined in the Separation Agreement) constitute the entire agreement of the
        Parties with respect to the subject matter hereof and thereof and supersede all prior agreements and undertakings, both written and oral, among the Parties with respect to the subject matter hereof and thereof.

    

    

    Section 5.10          Severability.  If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction or other Governmental Authority to be invalid, void or unenforceable,
        the remainder of the terms, provisions, covenants and restrictions of this Agreement shall remain in full force and effect and shall in no way be affected, impaired or invalidated so long as the economic or legal substance of the transactions
        contemplated hereby is not affected in any manner materially adverse to any Party.  Upon such a determination, the Parties shall negotiate in good faith to modify this Agreement so as to effect the original intent of the Parties as closely as
        possible in an acceptable manner in order that the transactions contemplated hereby be consummated as originally contemplated to the fullest extent possible.

    

    

    Section 5.11          Counterparts.  This Agreement may be signed in any number of counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same
        instrument.  This Agreement shall become effective when each Party shall have received a counterpart hereof signed by the other Party.  Until and unless each Party has received a counterpart hereof signed by the other Party, this Agreement shall
        have no effect and no Party shall have any right or obligation hereunder (whether by virtue of any other oral or written agreement or other communication).

    

    

    [Remainder of Page Intentionally Left Blank]

    
      28

      
        

    

    

    

    

    

    IN WITNESS WHEREOF, the Parties have executed this Agreement as of the date first set forth above.

    

    

    

    

    	 	
            WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORPORATION

          
	 	 	 
	 	 	 
	 	
            By:

          	
            /s/ Raymond T. Betler

          
	 	 	
            Name:

          	
            Raymond T. Betler

          
	 	 	
            Title:

          	
            President and Chief Executive Officer

          
	 	 	 	 
	 	
            GENERAL ELECTRIC COMPANY

          
	 	 	 
	 	 	 
	 	
            By:

          	
            /s/ Michael Jones

          
	 	 	
            Name:

          	
            Michael Jones

          
	 	 	
            Title:

          	
            Vice President, Business Development

          
	 	 	 	 

    

    

    

    

    [Signature Page to Shareholders Agreement]Exhibit 10.2

    

     

    

     

      

     
    TAX MATTERS AGREEMENT

    

    

    

    

    among

    

    

    

    

    General Electric Company,

    on behalf of itself

    and the members

    of the Company Group,

    

    

    

    

    and

    

    

    

    

    Transportation Systems Holdings Inc.

    on behalf of itself

    and the members

    of the SpinCo Group

    

    

    

    

    and

    

    

    

    

    Westinghouse Air Brake Technologies Corporation

    on behalf of itself

    and the members

    of the Parent Group

    

    

    

    

    

    

    and

    

    

    

    

    

    

    Wabtec US Rail, Inc.

    

    

    

    

    

    

    Dated as of February 25, 2019

     

      

     

      

     

      

    
      
        

    

    

    

    

    

    TABLE OF CONTENTS

    	 	 	 
	 	 	
            Page

          
	
            SECTION 1.

          	
            Definitions.

          	
            1

          
	
            SECTION 2.

          	
            Sole Tax Sharing Agreement.

          	
            15

          
	
            SECTION 3.

          	
            Certain Pre-Closing Matters.

          	
            15

          
	
            SECTION 4.

          	
            Allocation of Taxes.

          	
            15

          
	
            SECTION 5.

          	
            Preparation and Filing of Tax Returns.

          	
            18

          
	
            SECTION 6.

          	
            Apportionment of Tax Attributes.

          	
            22

          
	
            SECTION 7.

          	
            Utilization of Tax Attributes.

          	
            22

          
	
            SECTION 8.

          	
            Deductions and Reporting for Certain Awards.

          	
            23

          
	
            SECTION 9.

          	
            Tax Refunds.

          	
            24

          
	
            SECTION 10.

          	
            Certain Covenants.

          	
            24

          
	
            SECTION 11.

          	
            Section 336(e) and Section 338(h)(10) Elections.

          	
            25

          
	
            SECTION 12.

          	
            Direct Sale Matters.

          	
            27

          
	
            SECTION 13.

          	
            Allocation of Structure Benefits.

          	
            28

          
	
            SECTION 14.

          	
            Indemnities.

          	
            31

          
	
            SECTION 15.

          	
            Payments.

          	
            32

          
	
            SECTION 16.

          	
            Communication and Cooperation.

          	
            33

          
	
            SECTION 17.

          	
            Audits and Contest.

          	
            35

          
	
            SECTION 18.

          	
            Notices.

          	
            36

          
	
            SECTION 19.

          	
            Costs and Expenses.

          	
            37

          
	
            SECTION 20.

          	
            Effectiveness; Termination and Survival.

          	
            37

          
	
            SECTION 21.

          	
            Specific Performance.

          	
            38

          
	
            SECTION 22.

          	
            Captions.

          	
            38

          
	
            SECTION 23.

          	
            Entire Agreement; Amendments and Waivers.

          	
            38

          
	
            SECTION 24.

          	
            Governing Law and Interpretation.

          	 39

          
	
            SECTION 25.

          	
            Dispute Resolution.

          	 39

          
	
            SECTION 26.

          	
            Counterparts.

          	
            40

          
	
            SECTION 27.

          	
            Successors and Assigns; Third Party Beneficiaries.

          	
            40

          
	
            SECTION 28.

          	
            Authorization, Etc.

          	
            40

          
	
            SECTION 29.

          	
            Change in Tax Law.

          	
            40

          

    

    

    
      
        

    

    TAX MATTERS AGREEMENT

    

    

    This TAX MATTERS AGREEMENT (the “Agreement”) is
        entered into as of February 25, 2019 among General Electric Company (the “Company”), a New York corporation, on behalf of itself and the members of the Company
        Group, Transportation Systems Holdings Inc. (“SpinCo”), a Delaware corporation, on behalf of itself and the members of the SpinCo Group, Westinghouse Air Brake
        Technologies Corporation (“Parent”), a Delaware corporation, on behalf of itself and the members of the Parent Group, and Wabtec US Rail, Inc. (“Direct Sale Purchaser”), a Delaware corporation.

    

    

    WITNESSETH:

    

    

    WHEREAS, pursuant to the Tax laws of various jurisdictions, certain members of the SpinCo Group presently file certain Tax Returns on an
        affiliated, consolidated, combined, unitary, fiscal unity or other group basis (including as permitted by Section 1501 of the Internal Revenue Code of 1986, as amended (the “Code”)) with certain members of the Company Group;

    

    

    WHEREAS, the Company, Parent, SpinCo and Direct Sale Purchaser have entered into a Separation, Distribution and Sale Agreement, dated as of
        May 20, 2018 (as amended pursuant to the Amendment to Separation, Distribution and Sale Agreement dated as of January 25, 2019, the “Separation Agreement”) and
        the Company, Parent, SpinCo and Merger Sub have entered into an Agreement and Plan of Merger, dated as of May 20, 2018 (as amended pursuant to the Amendment to Agreement and Plan of Merger dated as of January 25, 2019, the “Merger Agreement”) pursuant to which the Internal Reorganization, the Direct Sale, the SpinCo Transfer, the Distribution and the Merger and other related transactions will be
        consummated;

    

    

    WHEREAS, the parties intend that the Intended Tax Treatment apply;

    

    

    WHEREAS, the Company, Parent and SpinCo desire to set forth their agreement on the rights and obligations of the Company, SpinCo, Parent
        and the members of the Company Group, the SpinCo Group, and Parent Group respectively, with respect to (A) the administration and allocation of U.S. federal, state, local and non-U.S. Taxes incurred in Taxable periods beginning prior to the
        Distribution Date, as defined below, and (B) various other Tax matters;

    

    

    NOW, THEREFORE, in consideration of the mutual covenants and agreements hereinafter set forth, the parties agree as follows:

    

    

    SECTION 1.          Definitions.

    

    

    (a)          As used in this Agreement:

    

    

    “Affiliate” shall mean, with respect to any
        Person, any other Person directly or indirectly controlling, controlled by, or under common control with such specified Person, whether now or in the future, as of the date on which, or at any time during the period for which, the determination of
        affiliation is being made.  For purposes of determining whether a Person is an Affiliate, the term “control” shall mean the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of a
        Person, whether through ownership of securities, contract or otherwise.  It is expressly agreed that, from and after the Distribution Date, no member of the Company Group shall be deemed to be an Affiliate of any member of the SpinCo Group, and no
        member of the SpinCo Group shall be deemed to be an Affiliate of any member of the Company Group.

    
      
        

    

    
    “Agreement” shall have the meaning ascribed
        thereto in the preamble.

    

    

    “Applicable Law” (or “Applicable Tax Law,” as the case may be) shall mean, with respect to any Person, any U.S. federal, state, county, municipal, local, multinational or non-U.S. statute, treaty, law,
        common law, ordinance, rule, regulation, order, writ, injunction, judicial decision, decree, permit or other legally binding requirement of any Governmental Authority applicable to such Person or any of its respective properties, assets, officers,
        directors, employees, consultants or agents (in connection with such officer’s, director’s, employee’s, consultant’s or agent’s activities on behalf of such Person).

    

    

    “Basis Adjustment” means the cumulative increase
        to the tax basis of any Reference Asset as a result of (i) the SpinCo Transactions, (ii) the Section 336(e) Elections, (iii) the Section 338(h)(10) Elections, (iv) the Internal Reorganization, (v) the Direct Sale or (vi) payments made pursuant to
        Section 13, in each case, for U.S. federal, state and local income tax purposes.

    

    

    “Business Day” shall mean a day, other than a
        Saturday, Sunday or other day on which commercial banks in New York, New York are authorized or required by law to close.

    

    

    “Closing Date” shall have the meaning ascribed
        thereto in the Merger Agreement.

    

    

    “Closing of the Books Method” shall mean the
        apportionment of items between portions of a Taxable period (i) as required under the Treasury regulations promulgated under Sections 336(e) and 338 of the Code, respectively, in connection with the Section 336(e) Elections, the Section 338(h)(10)
        Elections and any election made under Section 338(g) of the Code pursuant to Section 10(b), as the case may be, and (ii) if and to the extent the preceding clause (i) is inapplicable, based on a closing of the books and records on the close of the
        Distribution Date (in the event that the Distribution Date is not the last day of the Taxable period, as if the Distribution Date were the last day of the Taxable period), and in the case of this clause (ii), subject to adjustment for items accrued
        on the Distribution Date that are properly allocable to the Taxable period following the Distribution, as reasonably agreed by the Company and Parent; provided
        that, for the avoidance of doubt, any transaction deemed to occur for U.S. federal income tax purposes as a result of the Section 336(e) Elections, the Section 338(h)(10) Elections or any election made under Section 338(g) of the Code pursuant to
        Section 10(b) shall be deemed for all purposes of this Agreement to have occurred prior to the Distribution Effective Time; provided,  further, that any items not susceptible to such apportionment shall be apportioned on the basis of elapsed days during the relevant portion of the Taxable
        period.

    
      2

      
        

    

    “Code” shall have the meaning ascribed thereto in
        the recitals.

    

    

    “Combined Group” shall mean any group that filed
        or was required to file (or will file or be required to file) a Tax Return on an affiliated, consolidated, combined, unitary, fiscal unity or other group basis (including as permitted by Section 1501 of the Code) that includes at least one member
        of the Company Group and (i) at least one member of the SpinCo Group or (ii) at least one Direct Sale Transferred Subsidiary.

    

    

    “Combined Tax Return” shall mean a Tax Return
        filed in respect of U.S. federal, state, local or non-U.S. income Taxes for a Combined Group, or any other affiliated, consolidated, combined, unitary, fiscal unity or other group basis (including as permitted by Section 1501 of the Code) Tax
        Return of a Combined Group.

    

    

     “Company” shall have the meaning ascribed thereto
        in the preamble.

    

    

    “Company Business” shall mean the business
        conducted by the Company and its Affiliates, other than the SpinCo Business.

    

    

    “Company Group” shall mean the Company and each of
        its direct and indirect Subsidiaries immediately after the Distribution, including any predecessors or successors thereto (other than those entities comprising the SpinCo Group or the Parent Group).  For the avoidance of doubt, any reference herein
        to the “members” of the Company Group shall include the Company.

    

    

    “Company Separate Tax Return” shall mean any Tax
        Return that is required to be filed by, or with respect to, a member of the Company Group that is not a Combined Tax Return.

    

    

    “Compensatory Equity Interests” shall mean any
        options, stock appreciation rights, restricted stock, stock units or other rights with respect to the Company’s stock that are granted on or prior to the Distribution Date by any member of the Company Group in connection with employee, independent
        contractor or director compensation or other employee benefits (including, for the avoidance of doubt, options, stock appreciation rights, restricted stock, restricted stock units, performance share units or other rights issued in respect of any of
        the foregoing by reason of the Distribution or any subsequent transaction).

    

    

    “CFC” means a “controlled foreign corporation”
        within the meaning of Section 957 of the Code.

    
      3

      
        

    

    “Credit Event” means the occurrence of any of the
        following events: (a) an involuntary proceeding shall be commenced or an involuntary petition shall be filed, and which such filing is not contested within 30 days or dismissed within 60 days after the filing, seeking (i) liquidation,
        reorganization or other relief in respect of any member of the Parent Group or its debts, or of a substantial part of its assets, under any U.S. federal, state or non-U.S. bankruptcy, insolvency, receivership or similar law now or hereafter in
        effect or (ii) the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for any member of the Parent Group or for a substantial part of its assets, and, in any such case, such proceeding or petition shall
        continue undismissed for 60 days or an order or decree approving or ordering any of the foregoing shall be entered; (b) any member of the Parent Group shall (i) voluntarily commence any proceeding or file any petition seeking liquidation,
        reorganization or other relief under any U.S. federal, state or non-U.S. bankruptcy, insolvency, receivership or similar law now or hereafter in effect, (ii) apply for or consent to the appointment of a receiver, trustee, custodian, sequestrator,
        conservator or similar official for any member of the Parent Group or for a substantial part of its assets, or (iii) make a general assignment for the benefit of creditors; or (c) any member of the Parent Group engages in any other action or fails
        to take any action that constitutes an ‘event of default’ under any indebtedness or guarantee having an aggregate principal amount (including undrawn committed or available amounts and including amounts owing to all creditors under any combined or
        syndicated credit arrangement) of more than $1,000,000,000 if such event of default is not waived by the applicable creditor or cured by the applicable member of the Parent Group, and if such indebtedness or guarantee is not refinanced, terminated
        or otherwise settled, in each case, within 30 days of the occurrence of such event of default.

    

    

    “Default Rate” shall mean a rate per annum equal
        to LIBOR plus 500 basis points.

    

    

    “Direct Sale” shall have the meaning ascribed to
        it in the Separation Agreement.

    

    

    “Direct Sale Allocation Principles” shall mean the
        principles set forth on Schedule A hereto.

    

    

    “Direct Sale Assets” shall have the meaning
        ascribed to it in the Separation Agreement.

    

    

     “Direct Sale Consideration” means the Direct Sale
        Purchase Price plus, to the extent properly taken into account under Section 1060 of the Code or any comparable statutes in any other jurisdiction, the Direct Sale Liabilities.

    

    

    “Direct Sale Deficit Amount” shall have the
        meaning ascribed to it in the Separation Agreement.

    

    

    “Direct Sale Increase Amount” shall have the
        meaning ascribed to it in the Separation Agreement.

    

    

    “Direct Sale Liabilities” shall have the meaning
        ascribed to it in the Separation Agreement.

    

    

    “Direct Sale Purchase Price” shall have the
        meaning ascribed to it in the Separation Agreement.

    
      4

      
        

    

    “Direct Sale Separate Tax Return” shall mean any
        Tax Return that is required to be filed by, or with respect to, any Direct Sale Transferred Subsidiary that is not a Combined Tax Return.

    

    

    “Direct Sale Structure Tax Asset” shall mean any
        (i) Basis Adjustment in respect of a Direct Sale Asset and (ii) any deduction for Imputed Interest with respect to payments under Section 13(c) that are attributable to the Direct Sale.

    

    

    “Distribution” shall have the meaning ascribed to
        it in the Separation Agreement.

    

    

    “Distribution Date” shall mean the date on which
        the Distribution occurs.

    

    

    “Distribution Date QBAI” shall mean, for any
        relevant CFC, the product of (i) such CFC’s “qualified business asset investment” (as defined in Section 951A(d)(1) of the Code) for the taxable year of such CFC that includes the Distribution Date, determined as though such taxable year ended on
        the Distribution Date, and (ii) a fraction, the numerator of which is the number of days in the portion of such taxable year ending on the Distribution Date and the denominator of which is the total number of days in such taxable year.

    

    

    “Distribution Effective Time” shall have the
        meaning ascribed to it in the Separation Agreement; provided that, for the avoidance of doubt, any transaction deemed to occur for U.S. federal income tax
        purposes as a result of the Section 336(e) Elections, the Section 338(h)(10) Elections or any election made under Section 338(g) of the Code pursuant to Section 10(b) shall be deemed for all purposes of this Agreement to have occurred prior to the
        Distribution Effective Time.

    

    

     “Equity Interests” shall mean any stock or other
        securities treated as equity for Tax purposes, options, warrants, rights, convertible debt, or any other instrument or security that affords any Person the right, whether conditional or otherwise, to acquire stock or to be paid an amount determined
        by reference to the value of stock.

    

    

    “Escheat Payment” shall mean any payment required
        to be made to a Governmental Authority pursuant to an abandoned property, escheat or similar law.

    

    

    “Final Determination” shall mean (i) with respect
        to U.S. federal income Taxes, (A) a “determination” as defined in Section 1313(a) of the Code (including, for the avoidance of doubt, an executed IRS Form 906), or (B) the execution of an IRS Form 870-AD (or any successor form thereto), as a final
        resolution of Tax liability for any Taxable period, except that a Form 870-AD (or successor form thereto) that reserves the right of the taxpayer to file a claim for refund or the right of the IRS to assert a further deficiency shall not constitute
        a Final Determination with respect to the item or items so reserved; (ii) with respect to Taxes other than U.S. federal income Taxes, any final determination of liability in respect of a Tax that, under Applicable Tax Law, is not subject to further
        appeal, review or modification through proceedings or otherwise; (iii) with respect to any Tax, any final disposition by reason of the expiration of the applicable statute of limitations (giving effect to any extension, waiver, or mitigation
        thereof); or (iv) with respect to any Tax, the payment of such Tax by any member of the Company Group, any member of the SpinCo Group or any member of the Parent Group, whichever is responsible for payment of such Tax under Applicable Tax Law, with
        respect to any item disallowed or adjusted by a Taxing Authority; provided that, in the case of this clause (iv), the provisions of Section 17 have been
        complied with, or, if such Section is inapplicable, that the Member Company responsible under this Agreement for such Tax is notified by the Member Company paying such Tax that it has determined that no action should be taken to recoup such
        disallowed item, and the other Member Company agrees with such determination.

    
      5

      
        

    

    

    

    “Governmental Authority” shall mean any
        multinational, U.S., non-U.S., federal, territorial, state or local governmental authority, quasi-governmental authority, instrumentality, court, government or self-regulatory organization, commission, tribunal or organization or any regulatory,
        administrative or other agency, or any political or other subdivision, department or branch of any of the foregoing.

    

    

    “Group” shall mean the SpinCo Group, the Company
        Group or the Parent Group, as appropriate.

    

    

    “Imputed Interest” shall mean any interest imputed
        under Section 1272, 1274 or 483 of the Code or any other provision of the Code with respect to the payment obligations under Section 13(c).

    

    

    “Indemnified Party” shall mean the party which is
        entitled to seek indemnification from another party pursuant to the provisions of Section 14.

    

    

    “Indemnifying Party” shall mean the party from
        which another party is entitled to seek indemnification pursuant to the provisions of Section 14.

    

    

    “Intended Tax Treatment” shall mean:

    

    

    
      
        	

              	(a)	
                The treatment of the SpinCo Class A Preferred Stock and the SpinCo Class B Preferred Stock as stock subject to Section 1504(a)(4) of the Code;

              

      

    

    

    

    
      
        	

              	(b)	
                The treatment of the formation of SpinCo, the Internal Reorganization, the Direct Sale, the SpinCo Transfer, the Distribution, the Merger and the Post-Closing Transfers as
                    (i) a series of transactions effected pursuant to an integrated plan to dispose of the stock of SpinCo and other entities comprising the SpinCo Business (within the meaning of Treasury Regulations Section 1.336-1(b)(5)(iii) and
                    1.338-3(b)(3)(ii)(C)) and (ii) a series of related transactions (within the meaning of Treasury Regulations Section 1.197-2(h)(6)(ii)(B));

              

      

    

    

    

    
      
        	

              	(c)	
                The treatment of the SpinCo Transactions, by virtue of the transactions occurring thereby and the Section 336(e) Elections and the Section 338(h)(10) Elections, as giving
                    rise for U.S. federal, state and local income tax purposes to a taxable purchase and sale of the assets held immediately after the SpinCo Transfer by SpinCo and each other Applicable Subsidiary (other than the Equity Interests of the
                    Applicable Subsidiaries); and

              

      

    

    
      6

      
        

    

    

    

    
      
        	

              	(d)	
                The treatment of the Direct Sale for U.S. federal, state and local income tax purposes as a taxable purchase and sale of the Direct Sale Assets (including the assets held,
                    or treated for U.S. federal income tax purposes as held, immediately prior to the Direct Sale by any Direct Sale Transferred Subsidiary for which an election is made under Section 338(h)(10) of the Code pursuant to Section 12(d), but
                    excluding the Equity Interests of any such Direct Sale Transferred Subsidiary).

              

      

    

    

    

    “Internal Reorganization” shall have the meaning
        ascribed thereto in the Separation Agreement.

    

    

    “IRS” shall mean the United States Internal
        Revenue Service.

    

    

    “Kazakhstan Side Letter Agreement” shall mean the
        agreement between the Company and Parent in respect of the transfer of (i) a certain agreement between General Electric Kazakhstan LLP and KTZ-Freight Transportation JSC dated January 18, 2018 and (ii) a certain agreement between General Electric
        Kazakhstan LLP and KTZ-Freight Transportation JSC dated November 10, 2017.

    

    

    “Material Breach Payment” has the meaning set
        forth in Section 13(c)(vi).

    

    

    “Member Company” shall mean the Company, SpinCo or
        Parent (or the appropriate member of each of their respective Groups), as appropriate.

    

    

    “Merger” shall mean, collectively, (i) the merger
        of Merger Sub with and into SpinCo, with SpinCo continuing as the surviving corporation, pursuant to the Merger Agreement, and (ii) Parent’s acquisition of all of the SpinCo Class B Preferred Stock for  $10,000,000 cash immediately prior to the
        transactions described in item (i) and pursuant to the Merger Agreement.

    

    

    “Merger Agreement” shall have the meaning ascribed
        thereto in the recitals.

    

    

    “Merger Effective Time” shall have the meaning
        ascribed thereto in the Merger Agreement.

    

    

    “Merger Sub” shall have the meaning ascribed to it
        in the Merger Agreement.

    

    

    “Non-Stepped-Up Basis” shall mean the tax basis of
        any Reference Asset in respect of which a Basis Adjustments occurs, as determined before giving effect to the first event described in clauses (i)-(vi) of the definition of “Basis Adjustment” that gave rise to an adjustment to the tax basis of such
        Reference Asset.

    

    

    “Parent” shall have the meaning ascribed thereto
        in the preamble.

    
      7

      
        

    

    

    

    “Parent Change of Control” means the occurrence of
        any of the following events:

    

    

    (a)          any “person” or “group” (within the meaning of Sections
        13(d) and 14(d) of the Securities Exchange Act of 1934) becomes the beneficial owner of securities of Parent representing more than fifty percent (50%) of the combined voting power of Parent’s then outstanding voting securities;

    

    

    (b)          the shareholders of Parent approve a plan of complete
        liquidation or dissolution of Parent or there is consummated an agreement or series of related agreements for the sale, lease or other disposition, directly, or indirectly, by Parent of all or substantially all of Parent’s assets, other than such
        sale, lease or other disposition by Parent of all or substantially all of Parent’s assets to an entity at least fifty percent (50%) of the combined voting power of the voting securities of which are owned by shareholders of Parent in substantially
        the same proportions as their ownership of Parent immediately prior to such disposition;

    

    

    (c)          there is consummated a merger or consolidation of Parent
        or any direct or indirect subsidiary of Parent with any other corporation or other entity, and, immediately after the consummation of such merger or consolidation, either (i) the board of directors of Parent immediately prior to the merger or
        consolidation does not constitute at least a majority of the board of directors of the company resulting from or surviving such merger or consolidation or, if such company is a Subsidiary, the ultimate parent thereof, or (ii) all of the Persons who
        were the respective beneficial owners of the voting securities of Parent immediately prior to such merger or consolidation do not Beneficially Own, directly or indirectly, more than 50% of the combined voting power of the then outstanding voting
        securities of the Person resulting from or surviving such merger or consolidation or, if such company is a Subsidiary, the ultimate parent thereof; or

    

    

    (d)          a “change of control” or similar defined term in any
        agreement governing indebtedness of the Parent Group with aggregate principal amount or aggregate commitments outstanding in excess of $1,000,000,000.

    

    

    Notwithstanding the foregoing, (i) the determination of whether a “Parent Change of Control” has occurred shall not take into account the transactions
        contemplated by this Agreement, the Separation Agreement and the Merger Agreement, and (ii) except with respect to clause (c)(i) above, a “Parent Change of Control” shall not be deemed to have occurred by virtue of the consummation of any
        transaction or series of integrated transactions immediately following which the record holders of Parent Common Stock immediately prior to such transaction or series of transactions continue to have substantially the same proportionate ownership
        in and voting control over, and own substantially all of the shares of, an entity which owns all or substantially all of the assets of Parent immediately following such transaction or series of transactions.

    

    

    “Parent Common Stock” shall have the meaning
        ascribed to it in the Merger Agreement.

    
      8

      
        

    

    “Parent Class A Preferred Stock” shall have the
        meaning ascribed to it in the Merger Agreement.

    

    

    “Parent Group” shall mean (i) Parent and each of
        its direct and indirect Subsidiaries immediately prior to the Merger and (ii) after the Merger, the entities described in (i) and the entities comprising the SpinCo Group, including any predecessors or successors thereto (other than those entities
        comprising the Company Group).  For the avoidance of doubt, any reference herein to the “members” of the Parent Group shall include Parent.

    

    

    “Parent Group Return” shall mean the consolidated
        U.S. federal income tax return of the “affiliated group” (within the meaning of Section 1504(a) of the Code) of which Parent is the common parent.

    

    

    “Person” shall have the meaning ascribed to it in
        Section 7701(a)(1) of the Code.

    

    

    “Post-Closing Transfers” shall mean the sale, transfer or other divestiture by the Company of shares of Parent Class A Preferred Stock and/or Parent Common
          Stock pursuant to Article III of the Shareholders Agreement dated as of February 25, 2019 between Parent, the Company and the other parties thereto.

    

    

    “Post-Distribution Period” shall mean any Taxable
        period (or portion thereof) beginning after the Distribution Date.

    

    

    “Pre-Distribution Period” shall mean any Taxable
        period (or portion thereof) ending on or before the Distribution Date.

    

    

    “Reference Asset” means any asset:

    

    

    (i)          owned immediately prior to the
        Distribution by (A) an Applicable Subsidiary, (B) an entity that, for U.S. federal income tax purposes, is treated as a partnership one or more direct or indirect partners of which are Applicable Subsidiaries, provided that, if an Applicable Subsidiary is an indirect partner, any intermediate entity between such Applicable Subsidiary and the relevant partnership shall be treated for U.S.
        federal income tax purposes as an entity that is disregarded as separate from its owner or as a partnership, (C) a branch of any entity described in the preceding clauses (A) and (B), or (D) an entity that, for U.S. federal income tax purposes, is
        disregarded as an entity separate from any entity described in the preceding clauses (A) and (B),

    

    

    (ii)          transferred, or treated for U.S.
        federal income tax purposes as transferred (including, for the avoidance of doubt, pursuant to a sale deemed to occur by reason of an election under Section 338(h)(10) of the Code), in the Direct Sale and owned immediately prior to the Direct Sale
        by (A) the Company, (B) an Affiliate of the Company that is treated as a domestic corporation for U.S. federal income tax purposes (other than any Direct Sale Transferred Subsidiary), (C) a Direct Sale Transferred Subsidiary with respect to which
        an election is made under Section 338(h)(10) of the Code pursuant to Section 12(d), (D) an entity that is treated, for U.S. federal income tax purposes, as a partnership one or more direct or indirect partners of which are entities described in the
        preceding clauses (A) through (C), provided that, if an entity described in the preceding clauses (A) through (C) is an indirect partner, any intermediate
        entity between such entity and the relevant partnership shall be treated for U.S. federal income tax purposes as an entity that is disregarded as separate from its owner or as a partnership, (E) a branch of any entity described in the preceding
        clauses (A) through (D), or (F) an entity that, for U.S. federal income tax purposes, is disregarded as separate from any entity described in the preceding clauses (A) through (D), or

    
      9

      
        

    

    (iii)          owned, or treated for U.S. federal
        income tax purposes as owned, immediately before the Direct Sale by an entity that is treated as a partnership for such purposes, but only to the extent that equity interests of such entity also constitute Reference Assets;

    

    

    provided, however, that (X) a partnership will be treated as being described in one of the preceding clauses (i)(B), (ii)(D) and (iii) and (Y) an entity or branch will be treated as being
        described in one of the preceding clauses (i)(C), (i)(D), (ii)(E) and (ii)(F), only if such partnership, entity or branch, as the case may be, is listed on Schedule B hereto.  A Reference Asset also includes any asset of a member of the Parent
        Group the tax basis of which is determined, in whole or in part, by reference to the tax basis of an asset that is described in the preceding sentence, including “substituted basis property” within the meaning of Section 7701(a)(42) of the Code. 
        For the avoidance of doubt, no asset owned (or treated as owned for U.S. federal income tax purposes) by an entity for which an election is made under Section 338(g) of the Code pursuant to Section 10(b) shall be treated as a Reference Asset.

    

    

    “Separation Agreement” shall have the meaning
        ascribed thereto in the recitals.

    

    

    “Specified SpinCo Pre-Closing Tax Matters” shall
        mean any (i) change in method of accounting for a Taxable period ending on or prior to the Distribution, including pursuant to Section 481 of the Code, (ii) “closing agreement” as described in Section 7121 of the Code executed on or prior to the
        Distribution, (iv) installment sale or open transaction disposition made on or prior to the Distribution, (v) prepaid amount received on or prior to the Distribution, (vi) any election under Section 108(i) of the Code made on or prior to the
        Distribution, or (vii) corresponding or similar item under any provision of state, local or non-U.S. Tax Law.

    

    

    “SpinCo” shall have the meaning ascribed thereto
        in the preamble.

    

    

    “SpinCo Business” shall have the meaning ascribed
        to the term “Tiger Business” in the Separation Agreement.

    

    

    “SpinCo Class A Preferred Stock” shall have the
        meaning ascribed to it in the Separation Agreement.

    

    

    “SpinCo Class B Preferred Stock” shall have the
        meaning ascribed to it in the Separation Agreement.

    
      10

      
        

    

    “SpinCo Class C Preferred Stock” shall have the
        meaning ascribed to it in the Separation Agreement.

    

    

    “SpinCo Common Stock” shall have the meaning
        ascribed to it in the Separation Agreement.

    

    

    “SpinCo Deficit Amount” shall have the meaning
        ascribed to it in the Separation Agreement.

    

    

    “SpinCo Group” shall mean SpinCo, each of its
        direct and indirect Subsidiaries immediately after the Distribution, including any predecessors or successors thereto (other than those entities comprising the Company Group).  For the avoidance of doubt, any reference herein to the “members” of
        the SpinCo Group shall include SpinCo.

    

    

    “SpinCo Increase Amount” shall have the meaning
        ascribed to it in the Separation Agreement.

    

    

    “SpinCo Preferred Stock” means the SpinCo Class A
        Preferred Stock, the SpinCo Class B Preferred Stock and the SpinCo Class C Preferred Stock.

    

    

    “SpinCo Tax Attribute” means any Tax Attribute
        allocated, or otherwise made available, to a member of the SpinCo Group pursuant to Section 6.

    

    

    “SpinCo Separate Tax Return” shall mean any Tax
        Return that is required to be filed by, or with respect to, any member of the SpinCo Group that is not a Combined Tax Return.

    

    

    “SpinCo Transactions” means, collectively, the
        SpinCo Transfer, the Distribution and the Merger.

    

    

    “SpinCo Transfer” shall have the meaning ascribed
        to it in the Separation Agreement.

    

    

    “Structure Benefit Payment Cap” means
        $470,000,000.

    

    

    “Structure Benefits” means the reduction in U.S.
        federal, state and local cash Taxes actually payable by the Parent Group (calculated on a “with and without” basis) derived from the Structure Tax Assets, including, for the avoidance of doubt, any such reduction in cash Taxes actually payable that
        is derived from a Basis Adjustment in respect of any “qualified property” within the meaning of Section 168(k)(2) of the Code; provided that Structure
        Benefits shall be determined disregarding any reduction in Taxes attributable to any transaction entered into outside of the ordinary course of business and which has a significant purpose of reducing Taxes payable by the Parent Group (excluding,
        for the avoidance of doubt, mergers, acquisitions, dispositions, and other similar commercial transactions that may occur outside the ordinary course of business but that are not primarily motivated by Tax planning).

    
      11

      
        

    

    “Structure Tax Assets” means (i) the Basis
        Adjustments and (ii) any deduction for Imputed Interest.

    

    

    “Subsidiary” shall mean, with respect to any
        Person, any other Person of which the specified Person, either directly or through or together with any other of its Subsidiaries, owns more than 50% of the voting power in the election of directors or their equivalents, other than as affected by
        events of default.

    

    

    “Subsidiary Stock” means the stock of any member
        of the SpinCo Group that is classified as an association taxable as a corporation for U.S. federal income tax purposes, other than SpinCo.

    

    

    “Supporting Information” shall mean documentation
        and information reasonably necessary to verify the calculation or determination for which such documentation and information is requested or provided.

    

    

    “Surviving Tax Sharing Agreements” shall mean (i)
        Sections 3 and 4 of the Assignment and Assumption Agreement and Bill of Sale among General Electric Canada, General Electric Canada Company and Wabtec Transportation Canada Inc., (ii) Sections 4.03 and 4.04 of the Research Center Rental Agreement,
        dated as of December 1, 2018, between GE India Industrial Pvt Ltd and GE Global Sourcing India Private Limited, (iii) Section 5.04 of the Transition Services Agreement between General Electric Company and Transportation Systems Holdings Inc., (iv)
        Sections 4.04 and 4.05 of the Research and Development Agreement between General Electric Company and Transportation Systems holdings Inc., (v) the Employee Matters Agreement (to the extent relating to Taxes) among General Electric Company,
        Transportation Systems Holdings Inc., Westinghouse Air Brake Technologies Corporation and Wabtec US Rail, Inc., (vi) Sections 4.04 and 4.05 of the Research & Development Agreement between GE India Industrial Pvt Ltd and Transportation Systems
        Holding Inc., (vii) Section 1 of the Share Transfer Agreement between GE México, S.A. de C.V. and Wabtec Transportation Netherlands Holdings B.V., (viii) Section 1 of the Share Transfer Agreement between General Electric Company and Wabtec
        Netherlands B.V. and (ix) the Kazakhstan Side Letter Agreement (to the extent related to Taxes).

    

    

    “Tax” (and the correlative meaning, “Taxes,” “Taxing” and “Taxable”) shall mean (i) any tax, including any net income, gross income, gross receipts, alternative or add-on minimum, sales, use, business and occupation, business, professional and occupational license,
        value-added, trade, goods and services, ad valorem, franchise, profits, license, business royalty, withholding, payroll, employment, capital, excise, transfer, recording, severance, stamp, occupation, premium, property, asset, real estate transfer,
        environmental, custom duty, impost, obligation, assessment, levy, tariff or other tax or other like assessment or charge of any kind whatsoever (including, but not limited to, any Escheat Payment), together with any interest and any penalty,
        addition to tax or additional amount imposed by a Taxing Authority; or (ii) any liability of any member of the Company Group, the SpinCo Group or the Parent Group for the payment of any amounts described in clause (i) as a result of any express or
        implied obligation to indemnify any other Person, as a transferee or successor, or by operation of Law (including Treasury Regulations Section 1.1502-6).

    
      12

      
        

    

    “Tax Attribute” shall mean a net operating loss,
        net capital loss, unused foreign tax credit, excess charitable contribution, unused general business credit, or any other Tax Item that could reduce a Tax liability.

    

    

    “Tax Item” shall mean any item of income, gain,
        loss, deduction, credit, recapture of credit or any other item that increases or decreases Taxes paid or payable.

    

    

    “Tax Proceeding” shall mean any Tax audit,
        dispute, examination, contest, litigation, arbitration, action, suits, claim, cause of action, review, inquiry, assessment, hearing, complaint, demand, investigation or proceeding (whether administrative, judicial or contractual).

    

    

    “Tax Refund” shall mean any refund of Taxes (or
        credit in lieu thereof), including the recovery of any recoverable value added or similar Taxes.

    

    

    “Tax Return” shall mean any Tax return, statement,
        report, form, election, bill, certificate, claim or surrender (including estimated Tax returns and reports, extension requests and forms, and information returns and reports), or statement or other document or written information filed or required
        to be filed with any Taxing Authority, including any amendment thereof, appendix, schedule or attachment thereto.

    

    

    “Tax Year” shall mean the taxable year of Parent
        for U.S. federal income tax purposes, as defined in Section 441(b) of the Code.

    

    

    “Taxing Authority” shall mean any Governmental
        Authority (U.S. or non-U.S.), including any state, municipality, political subdivision or governmental agency, responsible for the imposition, assessment, administration, collection, enforcement or determination of any Tax.

    

    

    “Transaction Agreement” shall have the meaning
        ascribed to it in the Separation Agreement.

    

    

    “Transfer Taxes” shall mean all U.S. federal,
        state, local or non-U.S. sales, use, privilege, transfer, documentary, stamp, duties, real estate transfer, controlling interest transfer, recording and similar non-income Taxes and fees (including any penalties, interest or additions thereto)
        imposed upon any member of the Company Group, any member of the SpinCo Group or any member of the Parent Group in connection with the Internal Reorganization, the Direct Sale, the SpinCo Transfer, the Distribution or the Merger.

    

    

    “Valuation Assumptions” shall mean, as of the date
        that a Material Breach Payment becomes payable pursuant to Section 13(c)(iv), the assumptions that:

    

    

    (1)          in each Tax Year ending on or after such date of a
        Material Breach Payment, the Parent Group will have taxable income sufficient to fully use (x) the deductions arising from the Basis Adjustments and (y) the SpinCo Tax Attributes, in each case, during such Tax Year or future Tax Years (including,
        for the avoidance of doubt, Basis Adjustments that would result from future payments pursuant to Section 13(c) that would be paid in accordance with the Valuation Assumptions) in which such deductions or SpinCo Tax Attributes, as the case may be,
        would become available;

    
      13

      
        

    

    (2)          the U.S. federal, state and local income tax rates that
        will be in effect for each such Tax Year will be those specified for each such Tax Year by the Code and other Law as in effect on the date of a Material Breach Payment, except to the extent any change to such tax rates for such Tax Year have
        already been enacted into law, in which case the changed tax rates shall be used as the tax rates in effect for such Tax Year;

    

    

    (3)          all taxable income of the Parent Group will be subject
        to the maximum applicable tax rates for U.S. federal, state and local income taxes throughout the relevant period;

    

    

    (4)          any loss or credit carryovers generated by any Basis
        Adjustment or SpinCo Tax Attribute (including such Basis Adjustment generated as a result of payments under this Agreement) and available as of such date of the Material Breach Payment will be used by the Parent Group ratably in each Tax Year from
        such date of the Material Breach Payment through the scheduled expiration date of such loss or credit carryovers or, if there is no scheduled expiration date for any such loss or credit carryover, the fifth anniversary of the date of such a
        Material Breach Payment;

    

    

    (5)          any non-amortizable Reference Assets (other than
        Subsidiary Stock) will be disposed of in a fully taxable transaction on the later of (i) the fifteenth anniversary of the applicable Basis Adjustment and (ii) such date of the Material Breach Payment, for an amount sufficient to fully utilize the
        Basis Adjustment with respect to such Reference Asset;

    

    

    (6)          any Subsidiary Stock will be deemed never to be disposed
        of; and

    

    

    (7)          any payment obligations pursuant to Section 13(c) will
        be satisfied on the date that any Tax Return to which such payment obligation relates is required to be filed excluding any extensions.

     

      

    
      

      

      (b)          Each of the following terms is defined in the Section
          set forth opposite such term:

      

      

      	
              Term

            	
              Section

            
	
              336(e) Agreement

            	
              Section 11(b)

            
	
              Acquired Subpart F Taxes

            	
              Section 4(c)(i)

            
	
              Applicable Subsidiary

            	
              Section 11(b)

            
	
              Certification

            	
              Section 13(b)(iii)

            
	
              Company Structure Benefits

            	
              Section 13(a)

            
	
              Company Tax Proceeding

            	
              Section 17(b)

            
	
              Direct Sale Allocation

            	
              Section 12(b)

            
	
              Direct Sale Allocation Statement

            	
              Section 12(b)

            
	
              Due Date

            	
              Section 15(a)

            
	
              Election Statement

            	
              Section 11(b)

            
	
              Material Breach Payment

            	
              Section 13(c)(vi)

            
	
              Past Practices

            	
              Section 5(f)(i)

            
	
              Section 336(e) Election

            	
              Section 11(b)

            
	
              Section 338(h)(10) Election

            	
              Section 11(b)

            
	
              SpinCo Allocation Statement

            	
              Section 11(c)

            
	
              SpinCo Value Allocation

            	
              Section 11(c)

            
	
              Tax Arbiter

            	
              Section 25

            
	
              Tax Referee

            	
              Section 11(c)

            
	
              Tax Refund Recipient

            	
              Section 9(c)

            

       

    

      

      

      
        14

        
          

      

      (c)          All capitalized terms used but not defined herein
          shall have the same meanings as in the Separation Agreement.  Any term used in this Agreement which is not defined in this Agreement or the Separation Agreement shall, to the extent the context requires, have the meaning assigned to it in the
          Code or the applicable Treasury Regulations thereunder (as interpreted in administrative pronouncements and judicial decisions) or in comparable provisions of Applicable Tax Law.  The words “hereof”, “herein” and “hereunder” and words of like
          import used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement.  The captions herein are included for convenience of reference only and shall be ignored in the construction or
          interpretation hereof.  References to Sections and Schedules are to Sections and Schedules of this Agreement unless otherwise specified.  All Schedules annexed hereto or referred to herein are hereby incorporated in and made a part of this
          Agreement as if set forth in full herein.  Any capitalized terms used in any Schedule but not otherwise defined therein, shall have the meaning as defined in this Agreement.  Any singular term in this Agreement shall be deemed to include the
          plural, and any plural term the singular.  Whenever the words “include”, “includes” or “including” are used in this Agreement, they shall be deemed to be followed by the words “without limitation”, whether or not they are in fact followed by
          those words or words of like import.  “Writing”, “written” and comparable terms refer to printing, typing and other means of reproducing words (including electronic media) in a visible form.  References to any statute, law or regulation shall be
          deemed to refer to such statute, law or regulation as amended from time to time and to any rules or regulations promulgated thereunder.  References from or through any date mean, unless otherwise specified, from and including or through and
          including, respectively.  The word “extent” in the phrase “to the extent” shall mean the degree to which a subject or other theory extends and such phrase shall not mean “if”.  The parties have participated jointly in the negotiation and drafting
          of this Agreement and, in the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as jointly drafted by the parties and no presumption or burden of proof shall arise favoring or disfavoring any
          party by virtue of the authorship of any provision of this Agreement.  The terms “or”, “any” and “either” are not exclusive, except to the extent expressly provided otherwise.

       

        

      SECTION 2.          Sole Tax Sharing Agreement.    Any and all existing Tax sharing agreements or arrangements, written or
          unwritten, between any member of the Company Group, on the one hand, and any member of the SpinCo Group, on the other hand, if not previously terminated, shall be terminated as of the Distribution Date without any further action by the parties
          thereto.  Following the Distribution, no member of the SpinCo Group or the Company Group shall have any further rights or liabilities thereunder, and, except for the Surviving Tax Sharing Agreements, this Agreement shall be the sole Tax sharing
          agreement between the members of the SpinCo Group or the Parent Group, on the one hand, and the members of the Company Group, on the other hand.

      

      

      SECTION 3.          Certain Pre-Closing Matters.  [Intentionally Omitted]

      

      

      SECTION 4.          Allocation of Taxes.

      

      

      (a)          General Allocation Principles.  Except as provided in Section 4(b), all Taxes shall be allocated as follows:

      

      

      (i)          Allocation of Taxes for Combined Tax Returns.  The Company shall be allocated all Taxes reported, or required to be reported, on any Combined Tax Return that any member of the Company
          Group files or is required to file under the Code or other Applicable Tax Law; provided, however, that to the extent any such Combined Tax Return includes any Tax Item attributable to any member of the SpinCo Group or the SpinCo Business for any Post-Distribution Period, SpinCo shall be allocated all
          Taxes attributable to such Tax Items, determined on a “with and without” basis.

      

      

      (ii)          Allocation of Taxes for Separate Tax Returns.

      

      

      (A)          The Company shall be allocated
          all Taxes reported, or required to be reported, on (x) a Company Separate Tax Return, (y) a SpinCo Separate Tax Return with respect to a Pre-Distribution Period or (z) any SpinCo Separate Tax Return or a Tax Return of a member of the Parent Group
          to the extent attributable to, resulting from or arising in connection with a Specified SpinCo Pre-Closing Tax Matter.

      

      

      (B)          SpinCo shall be allocated all
          Taxes reported, or required to be reported, on a SpinCo Separate Tax Return with respect to a Post-Distribution Period, other than to the extent attributable to, resulting from or arising in connection with a Specified SpinCo Pre-Closing Tax
          Matter.

      

      

      (iii)          Taxes Not Reported on Tax Returns.

      

      

      (A)          The Company shall be allocated
          any Tax attributable to any member of the Company Group or the Company Business that is not required to be reported on a Tax Return.

      

      

      (B)          Any Tax attributable to any
          member of the SpinCo Group or the SpinCo Business that is not required to be reported on a Tax Return shall be allocated to (x) the Company, if with respect to a Pre-Distribution Period, and (y) SpinCo, if with respect to a Post-Distribution
          Period.

      
        15

        
          

      

      

      

      

      

      (b)          Special Allocation Rules.  Notwithstanding any other provision in this Section 4, the Taxes set forth in this Section 4(b) shall be allocated as follows:

      

      

      (i)          Transfer Taxes.  Transfer Taxes (other than those attributable to the Internal Reorganization and the SpinCo Transfer) shall be allocated 50% to the Company and 50% to SpinCo.  Any
          Transfer Taxes attributable to the Internal Reorganization or the SpinCo Transfer shall be allocated solely to the Company.

      

      

      (ii)          Taxes Relating to Compensatory Equity Interests.  Any Tax liability (including, for the avoidance of doubt, the satisfaction of any withholding Tax obligation) relating to the
          issuance, exercise, vesting or settlement of any Compensatory Equity Interest shall be allocated in a manner consistent with Section 8.

      

      

      (iii)          [Intentionally Omitted]

      

      

      (iv)          Section 336(e) and Section 338(h)(10) Elections.  Any liability for any Tax (other than Transfer Taxes, the allocation of which shall be governed by Section 4(b)(i)) payable with
          respect to the Section 336(e) Elections or the Section 338(h)(10) Elections shall be allocated to the Company.

      

      

      (v)          Section 338(g) Elections. Any liability for any Tax (other than Transfer Taxes, the allocation of which shall be governed by Section 4(b)(i)) payable with respect to any election under
          Section 338(g) of the Code with respect to any member of the SpinCo Group or any Direct Sale Transferred Subsidiary, in each case, shall be allocated to (a) the Company, (A) in the case of GE Transportes Ferroviarios S/A, and (B) in cases where
          such election is expressly required to be made pursuant to Section 10(b) (and, for the avoidance of doubt, the Company has not identified the applicable CFC as being subject to the proviso to Section 10(b)), and (b) Parent, otherwise (including,
          for the avoidance of doubt, where the Company has identified the applicable CFC as being subject to the proviso to Section 10(b)).

      

      

      (vi)          Direct Sale Assets and Liabilities. Except as provided in Section 4(b)(iv), Section 4(b)(v) or
          Section 4(c)(i): (a) any liability for (A) Taxes imposed or assessed on or in respect of the Direct Sale Assets or Direct Sale Liabilities for a Pre-Distribution Period and (B) Taxes of any Direct Sale Transferred Subsidiary for a
          Pre-Distribution Period (in each case, other than Transfer Taxes, the allocation of which shall be governed by Section 4(b)(i)) shall be allocated to the Company; and (b) any other liability for Taxes (X) imposed or assessed on or in respect of
          the Direct Sale Assets or Direct Sale Liabilities and (Y) of any Direct Sale Transferred Subsidiary (in each case, other than Transfer Taxes, the allocation of which shall be governed by Section 4(b)(i)) shall be allocated to Parent.

      
        16

        
          

      

      

      

      (c)          Allocation Conventions.

      

      

      (i)          All Taxes allocated pursuant to
          Section 4(a) shall be allocated in accordance with the Closing of the Books Method; provided, however, that if Applicable Tax Law does not permit a SpinCo Group member or Direct Sale Transferred Subsidiary to close its Taxable year on the Distribution Date, the Tax attributable to the operations of
          the members of the SpinCo Group and the Direct Sale Transferred Subsidiaries for any Pre-Distribution Period shall be the Tax computed using the Closing of the Books Method; provided, further, that any and all Taxes reported, or required to be reported, on a SpinCo Separate Tax Return or a Direct
          Sale Separate Tax Return, or a Tax Return of a member of the Parent Group to the extent attributable to a member of the SpinCo Group or a Direct Sale Transferred Subsidiary, under Section 951(a), Section 951A(a) or Section 965(a) of the Code (“Acquired Subpart F Taxes”) that, in each case, are attributable to Tax Items for a Pre-Distribution Period (determined as though the Taxable year of each specified foreign corporation (within the meaning of Section 965(e) of
          the Code) giving rise to Tax Items ended on the Distribution Date) shall be allocated to the Company, and that any Acquired Subpart F Taxes that, in each case, are attributable to Tax Items for a Post-Distribution Period (determined as though the
          Taxable year of each specified foreign corporation (within the meaning of Section 965(e) of the Code) giving rise to Tax Items ended on the Distribution Date) shall be allocated to Parent; provided, further, that for purposes of determining the amount of Acquired Subpart F Taxes allocated to the Company
          pursuant to the preceding proviso, (i) the portion of any Subpart F Taxes under Section 951A and Section 965(a) of the Code, respectively, allocated to the Company shall not exceed the amount of Taxes that the SpinCo Group would have been
          required to pay (for the avoidance of doubt, taking into account all items of deduction and credit which would have been allowed to members of the SpinCo Group) in respect of inclusions under Section 951A and Section 965 of the Code,
          respectively, if (x) the SpinCo Group were a stand-alone affiliated group of corporations the domestic members of which joined in the filing of a consolidated U.S. federal income tax return, (y) the Direct Sale Transferred Subsidiaries were
          members of such group, and (z) the Taxable year of each member of the SpinCo Group and each Direct Sale Transferred Subsidiary ended on the Distribution Date, and (ii) the “qualified business asset investment” (as such term is used in Section
          951A(d) of the Code) of each relevant CFC for a Pre-Distribution Period shall be deemed to be the Distribution Date QBAI of such CFC.

      

      

      (ii)          Any Tax Item of SpinCo, Parent, or
          any member of their respective Groups arising from a transaction engaged in outside the ordinary course of business on the Distribution Date after the Distribution Effective Time shall be properly allocable to SpinCo and any such transaction by
          or with respect to SpinCo, Parent, or any member of their respective Groups occurring after the Distribution Effective Time (including the Merger) shall be treated for all Tax purposes (to the extent permitted by Applicable Tax Law) as occurring
          at the beginning of the day following the Distribution Date in accordance with the principles of Treasury Regulations Section 1.1502-76(b); provided that
          the foregoing shall not include any action that is undertaken pursuant to the Internal Reorganization, the SpinCo Transfer or the Distribution.

      
        17

        
          

      

      

      

      SECTION 5.          Preparation and Filing of Tax Returns.

      

      

      (a)          Company Group Combined Tax Returns.

      

      

      (i)          The Company shall prepare and file,
          or cause to be prepared and filed, Combined Tax Returns which a member of the Company Group is required or, subject to Section 5(f)(iv), permitted, to file.  Each member of any such Combined Group shall execute and file such consents, elections
          and other documents as may be required, appropriate or otherwise requested by the Company in connection with the filing of such Combined Tax Returns (provided
          that, in the case of any such document the filing of which is not required, the execution and filing of such document could not reasonably be expected to adversely affect such member or the Parent Group (or any member thereof) for a
          Post-Distribution Period).

      

      

      (ii)          The parties and their respective
          Affiliates shall elect to close the Taxable year of each SpinCo Group member and each Direct Sale Transferred Subsidiary, in each case, on the Distribution Date, to the extent permitted by Applicable Tax Law.

      

      

      (b)          Separate Tax Returns.

      

      

      (i)          Tax Returns to be Prepared by the Company.  The Company shall prepare (or cause to be prepared) and, to the extent permitted by Applicable Law, file (or cause to be filed) all SpinCo
          Separate Tax Returns and Direct Sale Separate Tax Returns for any Taxable period that ends on or before the Distribution Date; provided, however, that with respect to any such Tax Return that is prepared by the Company but required to be filed by a member of the Parent Group under Applicable Law,
          the Company shall provide such Tax Returns to Parent not less than three (3) Business Days prior to the due date for filing such Tax Returns (taking into account any applicable extension periods) with the amount of any Taxes shown as due thereon,
          and Parent shall execute and file (or cause to be executed and filed) the Tax Returns.

      

      

      (ii)          Tax Returns to be Prepared by Parent.  Parent shall prepare and file (or cause to be prepared and filed) all SpinCo Separate Tax Returns and all Direct Sale Separate Tax Returns, in
          each case, that are not described in Section 5(b)(i).

      

      

      (c)          Provision of Information; Timing.  SpinCo and Parent shall maintain all necessary information for the Company (or any of its Affiliates) to file any Tax Return that the Company is required or permitted to
          file under this Section 5, and shall provide the Company with all such necessary information in accordance with the Company Group’s past practice.  The Company shall maintain all necessary information for Parent (or any of its Affiliates) to file
          any Tax Return that Parent is required or permitted to file under this Section 5, and shall provide Parent with all such necessary information in accordance with the SpinCo Group’s and the Direct Sale Transferred Subsidiaries’ past practice.

      
        18

        
          

      

      

      

      (d)          Review of Separate Tax Returns.  Parent shall submit to the Company a draft of each SpinCo Separate Tax Return and each Direct Sale Separate Tax Return (other than a SpinCo Separate Tax Return or Direct Sale
          Separate Tax Return that (i) relates solely to a Post-Distribution Period or (ii) is a Tax Return filed on an affiliated, consolidated, combined, unitary, fiscal unity or other group basis with Parent or any of its Affiliates (other than any such
          group that includes solely one or more members of the SpinCo Group, one or more Direct Sale Transferred Subsidiaries, or a combination thereof)) described in Section 5(b)(ii) at least thirty (30) days prior to the due date for the filing of such
          Tax Return, taking into account any applicable extensions (or, in the case of non-income tax returns, such shorter period as circumstances may reasonably require).  The Company shall have the right to review such Tax Return, and Parent shall (i)
          make any reasonable changes to such Tax Return submitted by the Company, if such changes relate to items in respect of which Parent may have claim for indemnity under Section 14 and (ii) consider in good faith any other changes to such Tax Return
          submitted by the Company, in each case, provided that such changes are submitted no later than fifteen (15) days prior to the due date for the filing of
          such Tax Return (or, in the case of non-income tax returns, such shorter period as circumstances may reasonably require).  The parties agree to consult and to attempt to resolve in good faith any issues arising as a result of the review of any
          such Tax Return.

      

      

      (e)          Review of Combined Tax Returns with Separate Tax Liability.  The Company shall submit to Parent a draft of the portions of any Combined Tax Returns (including pro forma portions thereof) that relate solely to
          one or more members of the SpinCo Group, one or more Direct Sale Transferred Subsidiaries, or a combination thereof, and that reflect a Tax liability allocated to SpinCo pursuant to Section 4(a)(i) at least thirty (30) days prior to the due date
          for the filing of such Tax Return, taking into account any applicable extensions (or, in the case of non-income tax returns, such shorter period as circumstances may reasonably require).  Parent shall have the right to review such portions, and
          the Company shall (i) make any reasonable changes to such Tax Return submitted by Parent, if such changes relate to items in respect of which the Company may have claim for indemnity under Section 14 and (ii) consider in good faith any other
          changes to such Tax Return submitted by Parent, in each case, provided that such changes are submitted no later than fifteen (15) days prior to the due
          date for the filing of such Tax Return (or, in the case of non-income tax returns, such shorter period as circumstances may reasonably require).  Notwithstanding anything to the contrary in this Agreement, in no event shall Parent or any of its
          Affiliates be entitled to receive or review all or any portion of any affiliated, combined, consolidated or unitary Tax Return that includes any member of the Company Group (other than a member of the SpinCo Group and any Direct Sale Transferred
          Subsidiary), except as expressly set forth in this Section 5(e).

      
        19

        
          

      

      

      

      (f)          Special Rules Relating to the Preparation of Tax Returns.

      

      

      (i)          General Rule.  Except as provided in this Section 5(f)(i), the Company shall prepare (or caused to be prepared) any Tax Return for which it is responsible under this Section 5 in
          accordance with past practices, permissible accounting methods, elections or conventions (“Past Practices”) used by the members of the Company Group and the
          members of the SpinCo Group prior to the Distribution Date with respect to such Tax Return (except as otherwise required by Applicable Law), and to the extent any items, methods or positions are not covered by Past Practices, in accordance with
          reasonable Tax accounting practices selected by the Company.  With respect to any Tax Return that Parent has the obligation and right to prepare, or cause to be prepared, under this Section 5 (other than any Tax Return that (i) relates solely to
          a Post-Distribution Period or (ii) is a Tax Return filed on an affiliated, consolidated, combined, unitary, fiscal unity or other group basis with Parent or any of its Affiliates (other than any such group that includes solely one or more members
          of the SpinCo Group, one or more Direct Sale Transferred Subsidiaries, or a combination thereof)), such Tax Return shall be prepared in accordance with Past Practices used by the members of the Company Group, the members of the SpinCo Group and
          the Direct Sale Transferred Subsidiaries prior to the Distribution Date with respect to such Tax Return (except as otherwise required by Applicable Law), and to the extent any items, methods or positions are not covered by Past Practices, in
          accordance with reasonable Tax accounting practices selected by Parent. Notwithstanding the foregoing and any other provision of this Agreement, no provision of this Agreement shall be applied to prevent Parent from causing an entity treated as a
          partnership for U.S. federal income tax purposes to make an election under Section 754 of the Code or any corresponding or similar provision of state or local or non-U.S. Tax Law, as applicable.

      

      

      (ii)          Consistency with Intended Tax Treatment.

      

      

      (A)          The parties shall report the
          Internal Reorganization in the manner determined by the Company; provided that the Company communicates its treatment of the Internal Reorganization to
          Parent no fewer than thirty (30) days prior to the due date (taking into account any applicable extensions) for filing an applicable Tax Return that reflects the Internal Reorganization and such treatment is supportable on an at least “more
          likely than not” level of comfort, unless, and then only to the extent, an alternative position is required pursuant to a Final Determination.

      

      

      (B)          The parties shall report the
          SpinCo Transactions and the Direct Sale for all Tax purposes in a manner consistent with the Intended Tax Treatment and the making of the Section 336(e) Elections and the Section 338(h)(10) Elections unless, and then only to the extent, an
          alternative position is required pursuant to a Final Determination.

      
        20

        
          

      

      

      

      (iii)          Separate Tax Returns.  With respect to any SpinCo Separate Tax Return or Direct Sale Separate Tax Return for which Parent is responsible pursuant to this Agreement, Parent and the
          other members of the Parent Group shall include all Tax Items in such SpinCo Separate Tax Return or Direct Sale Separate Tax Return, as the case may be, in a manner that is consistent with the inclusion of such Tax Items in any related Tax Return
          for which the Company is responsible to the extent such Tax Items are allocated in accordance with this Agreement.

      

      

      (iv)          Election to File Combined Tax Returns.  The Company shall have the sole discretion of filing any Combined Tax Return if the filing of such Tax Return is elective under Applicable Tax
          Law, except where such an election would be binding on Parent for a Taxable period beginning on or after the Distribution.

      

      

      (v)          Preparation of Transfer Tax Returns.  The Member Company required under Applicable Tax Law to file any Tax Returns in respect of Transfer Taxes shall prepare and file (or cause to be
          prepared and filed) such Tax Returns.  If required by Applicable Tax Law, the Company, SpinCo and Parent shall, and shall cause their respective Affiliates to, cooperate in preparing and filing, and join in the execution of, any such Tax Returns.

      

      

      (g)          Payment of Taxes.  The Company shall pay (or cause to be paid) to the proper Taxing Authority (or to Parent with respect to any SpinCo Separate Tax Return or Direct Sale Separate Tax Return prepared by the
          Company but required to be filed by a member of the Parent Group under Applicable Tax Law) the Tax shown as due on any Tax Return for which a member of the Company Group is responsible under this Section 5, and Parent shall pay (or cause to be
          paid) to the proper Taxing Authority the Tax shown as due on any Tax Return for which a member of the Parent Group is responsible under this Section 5.  If any member of the Company Group is required to make a payment to a Taxing Authority for
          Taxes allocated to SpinCo or Parent under Section 4, Parent shall pay the amount of such Taxes to the Company in accordance with Section 14 and Section 15.  If any member of the Parent Group is required to make a payment to a Taxing Authority for
          Taxes allocated to the Company under Section 4, the Company shall pay the amount of such Taxes to Parent in accordance with Section 14 and Section 15.

      

      

      (h)          Notwithstanding anything to the contrary in this
          Agreement, in no event shall any member of the Company Group or the Parent Group, as the case may be, be entitled to receive, review or otherwise have access to all or any portion of any Tax Return filed on an affiliated, consolidated, combined,
          unitary, fiscal unity or other group basis by members of the other Group, other than pro forma portions thereof that relate solely to one or more members of the SpinCo Group, one or more Direct Sale Transferred Subsidiaries, or a combination
          thereof, and reflect a Tax liability allocated to a member of such first Group hereunder.

      
        21

        
          

      

      

      

      SECTION 6.          Apportionment of Tax Attributes.

      

      

      (a)          Tax Attributes arising in a Pre-Distribution Period
          will be allocated to (and the benefits and burdens of such Tax Attribute will inure to) the members of the Company Group, the members of the SpinCo Group and the Direct Sale Transferred Subsidiaries in accordance with the Company’s historical
          practice (except as otherwise required by Applicable Law), the Code, Treasury Regulations, and any applicable state, local and non-U.S. law, as determined by the Company in its reasonable discretion.

      

      

      (b)          After the close of the Taxable period in which the
          Distribution Date occurs, the Company shall in good faith advise Parent in writing of the portion, if any, of Tax Attributes, or other consolidated, combined or unitary attribute which the Company determines shall be allocated or apportioned to
          the members of the SpinCo Group or the Direct Sale Transferred Subsidiaries under Applicable Tax Law.  All members of the Parent Group shall prepare all Tax Returns in accordance with such written notice, except as otherwise required by
          Applicable Law.  In the event of an adjustment to any Tax Attributes or other consolidated, combined or unitary attribute determined by the Company, the Company shall promptly notify Parent in writing of such adjustment.  For the avoidance of
          doubt, the Company shall not be liable to any member of the Parent Group for any failure of any determination under this Section 6(b) to be accurate under Applicable Tax Law, provided such determination was made in good faith.

      

      

      (c)          Except as otherwise provided herein, to the extent
          that the amount of any Tax Attribute is later reduced or increased by a Taxing Authority or as a result of a Tax Proceeding, such reduction or increase shall be allocated to the Member Company to which such Tax Attribute was allocated pursuant to
          this Section 6, as determined by the Company in its reasonable discretion.

      

      

      SECTION 7.          Utilization of Tax Attributes.

      

      

      (a)          Amended Returns.  Any amended Tax Return or claim for a refund with respect to any member of the SpinCo Group or any Direct Sale Transferred Subsidiary may be made only by the party responsible for preparing
          the original Tax Return with respect to such member of the SpinCo Group or Direct Sale Transferred Subsidiary pursuant to Section 5.  Except as required by Applicable Law, such party shall not file or cause to be filed any such amended Tax Return
          or claim for a refund without the prior written consent of the other party, which consent shall not be unreasonably withheld, conditioned or delayed, if such filing, assuming it is accepted, could reasonably be expected to change the Tax
          liability of such other party (or any Affiliate of such other party) for any Taxable period.

      

      

      (b)          Carryback of Tax Attributes.

      

      

      (i)          To the extent permitted by
          Applicable Tax Law, Parent shall cause the SpinCo Group and each Direct Sale Transferred Subsidiary to elect to forego carrybacks of any Tax Attributes of the SpinCo Group or such Direct Sale Transferred Subsidiary to a Pre-Distribution Period.

      
        22

        
          

      

      

      

      (ii)          If Parent is unable to forego
          carrybacks of any Tax Attributes of the SpinCo Group or a Direct Sale Transferred Subsidiary to a Pre-Distribution Period, the Company Group shall, at the request of Parent and at Parent’s sole expense, file any amended Tax Returns reflecting
          such carryback (unless such filing, assuming it is accepted, could reasonably be expected to increase the Tax liability of the Company or any of its Affiliates for any Taxable period).  If the Company Group (or any member thereof) receives a Tax
          Refund as a result of such a carryback (or otherwise realizes a reduction in cash Taxes actually payable, determined on a “with and without” basis), the Company shall remit the amount of such Tax Refund (or an amount equal to any such other
          reduction in cash Taxes) to Parent in accordance with Section 9(b).

      

      

      (c)          Carryforwards to Separate Tax Returns.  If (i) any net operating loss, net capital loss, or any tax credit is allocated to a member of a Combined Group pursuant to Section 6 and is carried forward to a
          SpinCo Separate Tax Return or Direct Sale Separate Tax Return, as applicable, and (ii) the Parent Group (or any member thereof) receives a Tax Refund as a result of such a carryforward (or otherwise realizes a reduction in cash Taxes actually
          payable, determined on a “with and without” basis), Parent shall remit the amount of such Tax Refund (or an amount equal to any such other reduction in cash Taxes) to the Company in accordance with Section 9(c).  If a portion or all of any Tax
          Attribute is allocated to a member of a Combined Group pursuant to Section 6, and is carried forward to a Company Separate Tax Return, any Tax Refunds arising from such carryforward shall be retained by the Company Group.

      

      

      SECTION 8.          Deductions and Reporting for Certain Awards.

      

      

      (a)          Deductions.  Solely the member of the Group for which the relevant individual is currently employed or, if such individual is not currently employed by a member of the Group, was most recently employed at the
          time of the issuance, vesting, exercise, disqualifying disposition, payment, settlement or other relevant Taxable event, as appropriate, in respect of the Compensatory Equity Interests shall be entitled to claim, in a Post-Distribution Period,
          any income Tax deduction on its Tax Return in respect of such equity awards and other incentive compensation on its respective Tax Return associated with such event.

      

      

      (b)          If, notwithstanding clause (a), the SpinCo Group or
          the Parent Group actually utilizes any deductions for a Taxable period ending after the Distribution Date with respect to (i) the issuance, exercise, vesting or settlement after the Distribution Date of any Compensatory Equity Interests, or (ii)
          any liability with respect to compensation which is required to be paid or satisfied by, or is otherwise allocated to, any member of the Company Group in accordance with any Transaction Agreement, Parent shall remit an amount to the Company equal
          to the overall net reduction in actual cash Taxes paid (determined on a “with and without” basis) by the SpinCo Group or the Parent Group, as applicable, resulting from the event giving rise to such deduction (and any income in respect of such
          event, subject to Section 15(b)) in the year of such event.  If a Taxing Authority subsequently reduces or disallows the use by the SpinCo Group or the Parent Group, as applicable, of such a deduction, the Company shall return an amount equal to
          the overall net increase in Tax liability of the SpinCo Group or the Parent Group, as applicable, owing to the Taxing Authority to the remitting party.

      
        23

        
          

      

      

      

      (c)          Withholding and Reporting.  For any Taxable period (or portion thereof), except as the Company may at any time otherwise determine in its reasonable discretion, the Company shall satisfy, or shall cause to be
          satisfied, all applicable withholding and reporting responsibilities (including all income, payroll, or other Tax reporting related to income to any current or former employees) with respect to the issuance, exercise, vesting or settlement of
          such Compensatory Equity Interests that settle with or with respect to stock of the Company.  The Company, SpinCo and Parent acknowledge and agree that the parties shall cooperate with each other and with third-party providers to effectuate
          withholding and remittance of Taxes, as well as required Tax reporting, in a timely manner.

      

      

      SECTION 9.          Tax Refunds.

      

      

      (a)          Company Tax Refunds.  The Company shall be entitled to any Tax Refunds (including, in the case of any refund actually received, any interest thereon actually received from a Taxing Authority) received by any
          member of the Company Group or any member of the Parent Group with respect to any Tax allocated to a member of the Company Group under this Agreement, including, for the avoidance of doubt, the recovery by any member of the Parent Group of any
          value added or similar Taxes that are attributable to the transfer of the Direct Sale Assets in the Direct Sale.

      

      

      (b)          SpinCo and Parent Tax Refunds.  SpinCo or Parent, as the case may be, shall be entitled to any Tax Refunds (including, in the case of any refund actually received, any interest thereon actually received from
          a Taxing Authority) received by any member of the Company Group after the Distribution Date with respect to any Tax allocated to a member of the SpinCo Group or a member of the
            Parent Group under this Agreement.

      

      

      (c)          A Member Company receiving (or realizing) a Tax Refund
          to which another Member Company is entitled hereunder (a “Tax Refund Recipient”) shall pay over the amount of such Tax Refund (including interest received
          from the relevant Taxing Authority, but net of any Taxes imposed with respect to such Tax Refund and any other reasonable costs) within thirty (30) days of receipt thereof (or from the due date for payment of any Tax reduced thereby); provided, however, that the other Member Company, upon the request of
          such Tax Refund Recipient, shall repay the amount paid to the other Member Company (plus any penalties, interest or other charges imposed by the relevant Taxing Authority) in the event that, as a result of a subsequent Final Determination, a Tax
          Refund that gave rise to such payment is subsequently disallowed.

      

      

      SECTION 10.          Certain Covenants.

      

      

      (a)          On or after the Distribution Date, neither SpinCo nor
          Parent will, nor will either permit any other member of its Group to, make or change any Tax election, change any accounting method, amend any Tax Return or take any Tax position on any Tax Return, take any other action or enter into any
          transaction that could reasonably be expected to result in any increased Tax liability or reduction of any Tax asset of any member of the Company Group in respect of any Pre-Distribution Period; provided that this Section 10(a) shall not apply to the incurrence of any Tax liability (or the reduction in any Tax asset) of the Company Group as a result of the SpinCo Transfer, the Internal
          Reorganization, the Distribution or the Merger.

      
        24

        
          

      

      

      

      (b)          Parent and SpinCo shall (and shall cause the members
          of their respective Groups to) make timely elections under Section 338(g) of the Code in respect of (i) each member of the SpinCo Group and (ii) each Direct Sale Transferred Subsidiary, in each case, that is a CFC for U.S. federal income Tax
          purposes; provided, however, that, without the Company’s prior
          written consent (which consent shall not be unreasonably withheld, conditioned or delayed), neither Parent nor SpinCo shall make, or permit any member of its respective Group to make, any such election with respect to a member of the SpinCo Group
          or a Direct Sale Transferred Subsidiary, in each case, if the Company shall have identified such CFC as being subject to this proviso by written notice delivered to Parent no later than 120 days after the Closing Date; and provided further, that, in all cases an election shall be made under Section 338(g) of the Code with respect to GE Transportes Ferroviarios S/A.  The provisions
          of Section 11(c) shall apply to any election made pursuant to this Section 10(b) mutatis
            mutandis, except that the Company shall deliver to Parent any SpinCo Allocation Statement with respect to any election made pursuant to this Section 10(b) within 180 days of
            the Closing Date.

      

      

      (c)          If Parent becomes aware of an event described in
          clause (c) of the definition of Credit Event, Parent shall provide prompt written notice to the Company.

      

      

      SECTION 11.          Section 336(e) and Section 338(h)(10) Elections.

      

      

      (a)          The Company, Parent and SpinCo agree that the SpinCo
          Transactions are intended to be treated as described in the definition of “Intended Tax Treatment.”

      

      

      (b)          The Company, Parent and SpinCo agree (and shall cause
          the members of their respective Groups) to make timely elections under Section 336(e) of the Code (with respect to SpinCo and each other Applicable Subsidiary for the Distribution and the Merger, together) and Section 338(h)(10) of the Code (with
          respect to each Applicable Subsidiary other than SpinCo (to the extent transferred on or after January 25, 2019) for the SpinCo Transfer and with respect to SpinCo and each other Applicable Subsidiary for the Merger), including in each case the
          Treasury Regulations issued thereunder and elections under any comparable statutes in any other jurisdiction, for each member of the SpinCo Group that is a domestic entity taxable as a corporation for U.S. federal income Tax purposes (each such
          member (including SpinCo), an “Applicable Subsidiary,” and each such election, a “Section 336(e) Election” or a “Section 338(h)(10) Election,” as applicable) and to file each such election in accordance with Applicable Law.
          Without limiting the foregoing:  (1) as soon as reasonably practicable after the execution of this Agreement, but in any event prior to the due date for the Company’s consolidated U.S. federal income Tax Return for the taxable year that includes
          the Closing Date, the Company, SpinCo and each other Applicable Subsidiary shall enter into a written, binding agreement to make the Section 336(e) Elections as described in Treasury Regulations Sections 1.336-2(h)(1)(i) and 1.336-2(h)(4) (the “336(e) Agreement”), (2) the Company shall retain a copy of the 336(e) Agreement, in accordance with Treasury Regulation Section 1.336-2(h)(1)(i), (3) the Company
          shall timely file with its consolidated U.S. federal income Tax Return for the taxable year that includes the Closing Date an election statement for each Section 336(e) Election satisfying the requirements of Treasury Regulation Section
          1.336-2(h)(1)(i), (h)(5) and (h)(6) (each, an “Election Statement”), a draft of which the Company shall provide to Parent for its review and comment at least
          30 days prior to such due date, (4) prior to the due date for the Company’s consolidated U.S. federal income Tax Return for the taxable year that includes the Closing Date, the Company shall provide SpinCo and each other Applicable Subsidiary
          with its respective Election Statement, in accordance with Treasury Regulation Section 1.336-2(h)(1), (5) the Company shall timely file or cause to be timely filed two IRS Forms 8883 (or successor or comparable form with respect to elections
          under Section 336(e)) reflecting each Section 336(e) Election with respect to SpinCo and each other Applicable Subsidiary that is consistent with the SpinCo Value Allocation (as defined in Section 11(c) below), in accordance with Treasury
          Regulations Section 1.336-2(h)(7), (6) the Company and Parent shall timely file an IRS Form 8023 for each Section 338(h)(10) Election (or, where applicable, IRS Forms 8023 applicable
            to multiple Section 338(h)(10) Elections, addressing all of the Section 338(h)(10) Elections), and (7) the Company and Parent shall timely file or cause to be timely filed an IRS Form 8883, consistent with the SpinCo Value Allocation (as
          defined in Section 11(c) below), reflecting each Section 338(h)(10) Election with respect to SpinCo and/or each other Applicable Subsidiary. As promptly as practicable (and in any event within ten (10) Business Days) following the due date of the
          Company’s consolidated U.S. federal income Tax Return for the taxable year that includes the Closing Date, the Company shall provide (or cause to be provided) to Parent written confirmation or other evidence reasonably satisfactory to Parent that
          the Election Statements have been attached to such Tax Return, in accordance with Treasury Regulation Section 1.336-2(h)(1)(iii). In the event of an adjustment to the SpinCo Allocation Statement as provided in Section 11(c), the Company and
          Parent shall (or shall cause the relevant members of their respective Groups) to file amended IRS Forms 8883 as required to reflect such adjustment.

      
        25

        
          

      

      

      

      (c)          Within 90 days after the Closing Date, the Company
          shall deliver to Parent a statement (the “SpinCo Allocation Statement”) allocating (i) the “aggregate deemed asset disposition price” and “adjusted
          grossed-up basis” (as such terms are defined in Treasury Regulations Sections 1.336-3 and 1.336-4) of the assets of SpinCo and each other Applicable Subsidiary in accordance with the Treasury regulations promulgated under Section 336(e), (ii) the
          “aggregate deemed sale price” and “adjusted grossed-up basis” (as such terms are defined in Treasury Regulations Sections 1.338-4 and 1.338-5) of the assets of SpinCo and each other Applicable Subsidiary in accordance with the Treasury
          regulations promulgated under Section 338, and (iii) the consideration for the acquisition of such assets (including any assumed liabilities to the extent properly taken into account under Section 1060 of the Code) among such assets in accordance
          with Section 1060 of the Code. Parent shall have the right to review the SpinCo Allocation Statement.  If within 45 days after receipt of the SpinCo Allocation Statement Parent notifies the Company in writing that it disagrees with one or more
          items on the SpinCo Allocation Statement, the Company and Parent shall negotiate in good faith to resolve such dispute. If the Company and Parent fail to resolve such dispute within 30 days, an accounting firm of national standing mutually
          acceptable to the Company and Parent (the “Tax Referee”) shall determine the appropriate allocation and revise the SpinCo Allocation Statement accordingly.
          If Parent does not respond within 45 days of its initial receipt of the SpinCo Allocation Statement, or upon resolution of the disputed items, the allocation reflected on the SpinCo Allocation Statement (as such may have been adjusted) shall be
          the “SpinCo Value Allocation” and shall be binding on the parties hereto. The Company, Parent and SpinCo agree to act in accordance with the SpinCo Value
          Allocation in the preparation, filing and audit of any Tax Return.  If an adjustment is made pursuant to Section 2.10 of the Separation Agreement, the SpinCo Value Allocation shall be adjusted in accordance with Sections 336(e), 338 and 1060 of
          the Code and the Treasury Regulations promulgated thereunder, as mutually agreed by the Company and Parent.  In the event that agreement is not reached within 20 days after the determination of the SpinCo Increase Amount or SpinCo Deficit Amount
          (as the case may be and, in each case, as defined in the Separation Agreement), any disputed items shall be resolved by the Tax Referee.

      
        26

        
          

      

      

      

      (d)          The Company, Parent, and SpinCo acknowledge and agree
          that one or more of the elections or forms to be filed under this Section 11 may be filed on a “protective” basis.

      

      

      (e)          To the extent permitted by Applicable Law, the parties
          shall treat the assets set forth on Schedule C as “qualified property” within the meaning of Section 168(k)(2) of the Code.

      

      

      SECTION 12.          Direct Sale Matters.

      

      

      (a)          The Company, Parent and SpinCo agree that the Direct
          Sale is intended to be treated as described in the definition of “Intended Tax Treatment.”

      

      

      (b)          Within 90 days after the closing of the Direct Sale,
          the Company shall deliver to Parent a statement (the “Direct Sale Allocation Statement”) allocating the Direct Sale Consideration among the Direct Sale
          Assets in accordance with Section 1060 of the Code and any comparable statutes in any other applicable jurisdiction. Parent, on behalf of Direct Sale Purchaser, shall have the right to review the Direct Sale Allocation Statement.  If within 45
          days after receipt of the Direct Sale Allocation Statement, Parent notifies the Company in writing that it disagrees with one or more items on the Direct Sale Allocation Statement, the Company and Parent shall negotiate in good faith to resolve
          such dispute. If the Company and Parent fail to resolve such dispute within 30 days, the Tax Referee shall determine the appropriate allocation and revise the Direct Sale Allocation Statement accordingly. If Parent does not respond within 45 days
          of its initial receipt of the Direct Sale Allocation Statement, or upon resolution of the disputed items, the allocation reflected on the Direct Sale Allocation Statement (as such may have been adjusted) shall be the “Direct Sale Allocation” and shall be binding on the parties hereto. the Company, Direct Sale Purchaser and Parent agree to act in accordance with the Direct Sale Allocation in the
          preparation, filing and audit of any Tax Return. In all events, the Direct Sale Allocation shall be consistent with the Direct Sale Allocation Principles.  If an adjustment is made pursuant to Section 2.11 of the Separation Agreement, the Direct
          Sale Allocation shall be adjusted in accordance with Section 1060 of the Code (and the Treasury Regulations promulgated thereunder) and any comparable statutes in any other applicable jurisdiction, as mutually agreed by the Company and Parent. 
          In the event that agreement is not reached within 20 days after the determination of the Direct Sale Increase Amount or Direct Sale Deficit Amount (as the case may be and, in each case, as defined in the Separation Agreement), any disputed items
          shall be resolved by the Tax Referee.

      
        27

        
          

      

      

      

      (c)          To the extent permitted by Applicable Law, the parties
          shall treat the assets set forth on Schedule D as “qualified property” within the meaning of Section 168(k)(2) of the Code.

      

      

      (d)          If the Company (or any of its Affiliates) and Direct
          Sale Purchaser (or any of its Affiliates) are eligible to make an election under Section 338(h)(10) of the Code in respect of the actual or deemed purchase and sale of the equity interests of a Direct Sale Transferred Subsidiary in the Direct
          Sale, the Company and Direct Sale Purchaser shall (or, if applicable, shall cause their respective Affiliates to) jointly make a timely election under Section 338(h)(10) of the Code and the Treasury Regulations issued thereunder (and under any
          comparable statutes in any other jurisdiction) in respect of such purchase and sale and shall file each such election in accordance with Applicable Law. The provisions of Section 11(c) shall apply to any such election mutatis mutandis.

      

      

      (e)          Section 2.01(d) of the Separation Agreement is
          incorporated herein by reference.

      

      

      SECTION 13.          Allocation of Structure Benefits.

      

      

      (a)          Structure Benefits shall be allocated as provided
          below.

      

      

      (i)          The Company Group shall be entitled
          to 100% of Structure Benefits until the Company Group has been allocated Structure Benefits equal to the Structure Benefit Payment Cap (“Company Structure Benefits”).

      

      

      (ii)          The Parent Group shall be entitled
          to retain any Structure Benefits that are not Company Structure Benefits.

      

      

      (b)          Determination of Structure Benefits.

      

      

      (i)          No later than one hundred twenty
          (120) days after the Closing Date, the Company shall deliver to Parent a certification, signed by the chief financial officer of the Company, setting forth information regarding the Non-Stepped-Up Basis of the Reference Assets at a level of
          detail reasonably necessary to permit the determination of Structure Benefits for each Tax Year.

      

      

      (ii)          No later than thirty (30) days
          after the due date (taking into account extensions validly obtained) for filing the Parent Group Return for each Tax Year, Parent shall provide the Company with a certification signed by the chief financial officer of Parent setting forth the
          amount, if any, with respect to such Tax Year of the Structure Benefits realized by the Parent Group and the amount of such Structure Benefits that are Company Structure Benefits.

      
        28

        
          

      

      

      

      (iii)          The certifications pursuant to
          clauses (b)(i) and (b)(ii) of this Section (each, a “Certification”) shall (A) set forth in reasonable detail the basis for the applicable calculation or
          determination, (B) be delivered together with any Supporting Information and (C) in the case of a Certification described in clause (b)(ii) of this Section, shall include a statement to the effect that all such calculations and determinations
          have been made without regard to any transaction a significant purpose of which is to reduce or defer any amount payable by Parent.  If the chief financial officer of the preparing party determines that it is necessary to adjust any computations
          required by the preceding sentence, then such chief financial offer will be permitted to make such adjustments in a manner reasonably acceptable to the non-preparing party.

      

      

      (iv)          Notwithstanding anything to the
          contrary contained in this Section 13(b), (i) the Company and Parent shall use commercially reasonable efforts to resolve any disputes with respect to the Certifications, and (ii) if the Company and Parent are unable to resolve such dispute
          within ten (10) days, the applicable Certification and a certification prepared by the chief financial officer of the non-preparing party that resolves the disputed item or items in the manner that such chief financial officer believes is
          appropriate and sets forth in reasonable detail the basis for the determination shall be submitted to the Tax Arbiter for resolution in accordance with Section 25.

      

      

      (c)          Payment of Structure Benefits.

      

      

      (i)          In General. With respect to each Tax Year, within ten (10) days of the agreement by the Company and Parent that the applicable Certification is acceptable to each party, Parent shall
          make a payment to the Company equal to the Company Structure Benefits with respect to such Tax Year, if any.

      

      

      (ii)          Tax Treatment. Unless otherwise required pursuant to a Final Determination, the parties agree to treat, for U.S. federal and applicable state and local income tax purposes:

      

      

      (A)          Any payment (or portion
          thereof) pursuant to this Section 13(c) that is not attributable to the Direct Sale as an upward adjustment to the “aggregate deemed asset disposition price” and “adjusted grossed-up basis” (as such terms are defined in Treasury Regulations
          Section 1.336-3 and 1.336-4) or an upward adjustment to the “aggregate deemed sale price” and “adjusted grossed-up basis” (as such terms are defined in Treasury Regulations Sections 1.338-4 and 1.338-5), as applicable, of the assets of SpinCo
          and/or each other Applicable Subsidiary; and

      
        29

        
          

      

      

      

      (B)          Any payment (or portion
          thereof) pursuant to this Section 13(c) that is attributable to the Direct Sale (other than amounts accounted for as interest under the Code) as an adjustment to the Direct Sale Consideration.

      

      

      For purposes of this Agreement, a payment (or portion thereof) is attributable to the Direct Sale to the extent that the Structure
          Benefit corresponding to such payment (or portion thereof) was derived from any Direct Sale Structure Tax Asset.

      

      

      (iii)          Payments Following a Parent Change of Control.  In the event of a Parent Change of Control, all payments with respect to Structure Benefits following such Parent Change of Control
          shall be mutually determined by the Company and Parent acting in good faith based on the Parent Group’s projected standalone taxable income, which shall be calculated at the time of such Parent Change of Control based on the Parent Group’s
          standalone activities, balance sheet, Tax Attributes and other characteristics, in each case, immediately before such Parent Change of Control.

      

      

      (iv)          Late Payments.  Any payment required to be made by Parent under this Agreement with respect to Structure Benefits that is not made when due under the terms of this Agreement shall be
          payable together with any interest thereon, computed at the Default Rate and commencing from the date on which such payment was due and payable.

      

      

      (v)          Acceleration on Material Breach.  In the event that (i) (x) Parent fails to make any payment (other than a payment of a de minimis amount) under this Agreement with respect to
          Structure Benefits within thirty (30) days after the date when due, (y) following the expiration of such thirty (30) day period, the Company provides written notice to Parent of such failure and (z) Parent fails to cure such failure within ten
          (10) days of receipt of such written notice, or (ii) a Credit Event has occurred, then all obligations hereunder with respect to such Structure Benefits shall be accelerated and become immediately due and payable, and shall include, without
          duplication: (1) the Material Breach Payment; (2) any prior payments with respect to Structure Benefits that are due and payable but that still remain unpaid as of the date of such acceleration; and (3) any current payments with respect to
          Structure Benefits due for the Tax Year ending with or including the date of such acceleration; provided that, in the event that a Credit Event occurs
          within the thirty (30) day period described in clause (i)(x) above, such thirty (30) day period shall be deemed to end on the date of the Credit Event and clauses (i)(y) and (i)(z) shall not apply.

      

      

      (vi)          Payment Upon Material Breach.  The “Material Breach Payment” payable to the Company pursuant to
          Section 13(c)(v) shall equal the present value, discounted at the Default Rate, of all payments with respect to Structure Benefits that would be required to be paid to the Company using the Valuation Assumptions.

      
        30

        
          

      

      

      

      (vii)          Repayment Upon Certain Occurrences. In the event that (i) any Structure Benefit is disallowed pursuant to a Final Determination and (ii) after giving effect to such Final
          Determination, (x) the aggregate amount of payments previously made to the Company in respect of Structure Benefits (and not repaid pursuant to this Section 13(c)(vii)) exceeds (y) the aggregate amount of Structure Benefits previously recognized
          (and not disallowed), the Company shall pay to Parent an amount equal to such excess; provided that, for purposes of Section 13(a)(i), the portion of such
          disallowed Structure Benefit in respect of which a payment is made by the Company pursuant to this Section 13(c)(vii) shall thereafter be deemed never to have been allocated to the Company.

      

      

      (viii)          Withholding.  Parent, the Company and their respective Affiliates shall be entitled to deduct and withhold from any amount payable pursuant to this Agreement such amounts as are
          required to be deducted and withheld under the Code or any provision of state, local or non-U.S. Law.  To the extent that amounts are so withheld and paid over to the appropriate taxing authority, such withheld amounts shall be treated for all
          purposes of this Agreement, other than Section 13(c)(i), as having been paid to the Person in respect of whom such withholding was made.

      

      

      SECTION 14.          Indemnities.

      

      

      (a)          Parent Indemnity to the Company.  Parent and each other member of the Parent Group shall jointly and severally indemnify the Company and the other members of the Company Group against, and hold them harmless,
          without duplication, from:

      

      

      (i)          any Tax liability allocated to
          SpinCo or Parent pursuant to Section 4; and

      

      

      (ii)          all liabilities, costs, expenses
          (including reasonable expenses of investigation and attorneys’ fees and expenses), losses, damages, assessments, settlements or judgments arising out of or incident to the imposition, assessment or assertion of any Tax liability or damage
          described in (i), including those incurred in the contest in good faith in appropriate proceedings relating to the imposition, assessment or assertion of any such Tax, liability or damage.

      

      

      (b)          Company Indemnity to Parent.  Except in the case of any liabilities described in Section 14(a), the Company and each other member of the Company Group will jointly and severally indemnify Parent and the other
          members of the Parent Group against, and hold them harmless, without duplication, from:

      

      

      (i)          any Tax liability allocated to the
          Company pursuant to Section 4;

      

      

      (ii)          any Taxes of the Company (or any
          Subsidiary of the Company immediately prior to the Merger Effective Time) payable as a result of the Internal Reorganization;

      
        31

        
          

      

      

      

      (iii)          any Taxes imposed on any member
          of the SpinCo Group or Parent Group under Treasury Regulations Section 1.1502-6 (or similar or analogous provision of state, local or non-U.S. law) as a result of any such member being or having been a member of a Combined Group; and

      

      

      (iv)          all liabilities, costs, expenses
          (including reasonable expenses of investigation and attorneys’ fees and expenses), losses, damages, assessments, settlements or judgments arising out of or incident to the imposition, assessment or assertion of any Tax liability or damage
          described in (i), (ii), or (iii), including those incurred in the contest in good faith in appropriate proceedings relating to the imposition, assessment or assertion of any such Tax, liability or damage.

      

      

      (c)          Discharge of Indemnity.  Parent, the Company and the members of their respective Groups shall discharge their obligations under Section 14(a) or Section 14(b), respectively, by paying the relevant amount in
          accordance with Section 15, within 30 Business Days of demand therefor.  Any such demand shall include a statement showing the amount due under Section 14(a) or Section 14(b), as the case may be.  Notwithstanding the foregoing, if any member of
          the Parent Group or any member of the Company Group disputes in good faith the fact or the amount of its obligation under Section 14(a) or Section 14(b), then no payment of the amount in dispute shall be required until any such good faith dispute
          is resolved in accordance with Section 25; provided, however,
          that any amount not paid within 30 Business Days of demand therefor shall bear interest as provided in Section 15.

      

      

      (d)          Tax Benefits.  If an indemnification obligation of any Indemnifying Party under this Section 14 arises in respect of an adjustment that makes allowable to an Indemnified Party any offsetting deduction or
          other item that would reduce taxes which would not, but for such adjustment, be allowable, then any such indemnification obligation shall be an amount equal to (i) the amount otherwise due but for this Section 14(d), minus (ii) the reduction in
          actual cash Taxes payable by the Indemnified Party in the year such indemnification obligation arises, determined on a “with and without” basis.

      

      

      SECTION 15.          Payments.

      

      

      (a)          Timing.  All payments required to be made under this Agreement (excluding, for the avoidance of doubt, any payments to a Taxing Authority described herein) shall be made in immediately available funds. 
          Except as otherwise provided, all such payments will be due thirty (30) Business Days after the receipt of notice of such payment or, where no notice is required, thirty (30) Business Days after the fixing of liability or the resolution of a
          dispute (the “Due Date”).  Payments shall be deemed made when received.  Any payment that is not made on or before the Due Date shall bear interest at the
          rate equal to the “prime” rate as published on such Due Date in the Wall Street Journal, Eastern Edition, for the period from and including the date immediately following the Due Date through and including the date of payment.  With respect to
          any payment required to be made under this Agreement, the Company and Parent have the right to designate, by written notice to the other party, which member of the designating party’s Group will make or receive such payment; provided, however, that all such payments shall be made by a Person
          that is a “domestic corporation” within the meaning of Section 7701(a) of the Code.

      
        32

        
          

      

      

      

      (b)          Treatment of Payments.  To the extent permitted by Applicable Tax Law and except as otherwise provided herein, any payment made by the Company or any member of the Company Group to Parent or any member of the
          Parent Group, or by Parent or any member of the Parent Group to the Company or any member of the Company Group, pursuant to this Agreement, the Separation Agreement, the Merger Agreement or any other Transaction Agreement that relates to Taxable
          periods (or portions thereof) ending on or before the Distribution Date shall be treated by the parties hereto for all Tax purposes as an adjustment to the “aggregate deemed asset disposition price” and “adjusted grossed-up basis” (as such terms
          are defined in Treasury Regulations Section 1.336-3 and 1.336-4) or as an adjustment to the “aggregate deemed sale price” and “adjusted grossed-up basis” (as such terms are defined in Treasury Regulations Sections 1.338-4 and 1.338-5), as
          applicable, of the assets of SpinCo and each other Applicable Subsidiary; provided, however, that any payment made pursuant to Section 2.05 of the Separation Agreement shall instead be treated as if the party required to make a payment of received amounts received such amounts as agent for the other
          party; provided, further, that any payment made pursuant to the
          Transition Services Agreement, the R&D Agreement, the India R&D Agreement or other Ancillary Agreement, in each case, that is in the nature of compensations for services shall be treated as such; and provided, further, that any payment made in respect of Direct Sale Assets or Direct Sale
          Liabilities (including any indemnification payment in respect of the Direct Sale) shall be treated as an adjustment to the Direct Sale Consideration.  In the event that a Taxing Authority asserts that a party’s treatment of a payment described in
          this Section 15(b) should be other than as required herein, such party shall use its reasonable best efforts to contest such assertion in a manner consistent with Section 17.

      

      

      (c)          No Duplicative Payment.  It is intended that the provisions of this Agreement shall not result in a duplicative payment of any amount required to be paid under the Separation Agreement, the Merger Agreement
          or any other Transaction Agreement, and this Agreement shall be construed accordingly.

      

      

      SECTION 16.          Communication and Cooperation.

      

      

      (a)          Consult and Cooperate.  SpinCo, the Company and Parent shall consult and cooperate (and shall cause each other member of their respective Groups to consult and cooperate) fully at such time and to the extent
          reasonably requested by the other party in connection with all matters subject to this Agreement.  Such cooperation shall include:

      

      

      (i)          the retention, and provision on
          reasonable request, of any and all information including all books, records, documentation or other information pertaining to Tax matters relating to the SpinCo Group, any necessary explanations of information, and access to personnel, until one
          year after the expiration of the applicable statute of limitation (giving effect to any extension, waiver, or mitigation thereof);

      
        33

        
          

      

      

      

      (ii)          the execution of any document that
          may be necessary (including to give effect to Section 17) or helpful in connection with any required Tax Return or in connection with any Tax Proceeding; and

      

      

      (iii)          the use of the parties’
          commercially reasonable efforts to obtain any documentation from a Governmental Authority or a third party that may be necessary or helpful in connection with the foregoing.

      

      

      (b)          Provide Information.  Except as set forth in Section 17, the Company, SpinCo and Parent shall keep each other reasonably informed with respect to any material development relating to the matters subject to
          this Agreement.

      

      

      (c)          Tax Attribute Matters.  The Company, SpinCo and Parent shall promptly advise each other with respect to any proposed Tax adjustments that are the subject of a Tax Proceeding, and that may affect Structure
          Benefits or any Tax liability or any Tax Attribute (including, but not limited to, basis in an asset or the amount of earnings and profits) of any member of the Parent Group or any member of the Company Group, respectively.

      

      

      (d)          Confidentiality and Privileged Information.  Any information or documents provided under this Agreement shall be kept confidential by the party receiving the information or documents, except as may otherwise
          be necessary in connection with the filing of required Tax Returns or in connection with any audit, proceeding, suit or action.  Notwithstanding any other provision of this Agreement or any other agreement, (i) no member of the Company Group or
          Parent Group, respectively, shall be required to provide any member of the Parent Group or Company Group, respectively, or any other Person access to or copies of any information or procedures other than information or procedures that relate
          solely to SpinCo, the business or assets of any member of the SpinCo Group or matters for which Parent or Company Group, respectively, has an obligation to indemnify under this Agreement, and (ii) in no event shall any member of the Company Group
          or the Parent Group, respectively, be required to provide any member of the Parent Group or Company Group, respectively, or any other Person access to or copies of any information if such action could reasonably be expected to result in the
          waiver of any privilege.  Notwithstanding the foregoing, in the event that the Company or Parent, respectively, determines that the provision of any information to any member of the Parent Group or Company Group, respectively, could be
          commercially detrimental or violate any law or agreement to which the Company or Parent, respectively, is bound, the Company or Parent, respectively, shall not be required to comply with the foregoing terms of this Section 16(d) except to the
          extent that it is able, using commercially reasonable efforts, to do so while avoiding such harm or consequence.

      
        34

        
          

      

      

      

      SECTION 17.          Audits and Contest.

      

      

      (a)          Notice.  Each of the Company, SpinCo and Parent shall promptly notify the other parties in writing upon the receipt from a relevant Taxing Authority of any notice of a Tax Proceeding that may give rise to an
          indemnification obligation under this Agreement or a change to Structure Benefits; provided that a party’s right to indemnification or with respect to
          Structure Benefits under this Agreement shall not be limited in any way by a failure to so notify, except to the extent that the Indemnifying Party or the counterparty with respect to Structure Benefits, as the case may be, is prejudiced by such
          failure.

      

      

      (b)          Company Control.  Notwithstanding anything in this Agreement to the contrary and except as otherwise provided in Section 17(d), the Company shall have the right to control any Tax Proceeding with respect to
          any Tax matters of (i) a Combined Group or any member of a Combined Group (as such), (ii) any member of the Company Group and (iii) any member of the SpinCo Group with respect to a Pre-Distribution Period (each, a “Company Tax Proceeding”).  The Company shall have absolute discretion with respect to any decisions to be made, or the nature of any action to be taken, with respect to any Tax matter
          described in the preceding sentence; provided, however, that to
          the extent that any Tax Proceeding relating to such a Tax matter is reasonably likely to give rise to an indemnity obligation of SpinCo or Parent under Section 14, materially increase the Taxes allocated to any member of the Parent Group pursuant
          to Section 4 or materially affect the Tax Attributes allocated to any member of the SpinCo Group pursuant to Section 6, the Company shall keep Parent informed of all material developments and events relating to any such Company Tax Proceeding and
          the Company shall not settle or compromise any such contest without Parent’s written consent, which consent may not be unreasonably withheld, conditioned or delayed.

      

      

      (c)          Parent Assumption of Control.  The Company, in its sole discretion, may permit Parent to elect to assume control of a Company Tax Proceeding at Parent’s sole cost and expense; provided, however, that Parent shall have no obligation to elect to control any Company Tax
          Proceeding but, if Parent so elects, it will (i) be responsible for the payment of any liability arising from the disposition of such matter notwithstanding any other provision of this Agreement to the contrary and (ii) indemnify the Company
          Group for any increase in a liability and any reduction of a Tax asset of the Company Group arising from such matter.

      

      

      (d)          Consolidated Group Tax Matters.  The Company, in the case of any Tax Proceeding with respect to the consolidated U.S. federal income Tax Return (or any similar state and local Tax Return filed on a group
          basis) of the Company Group, and Parent, in the case of any Tax Proceeding with respect to the consolidated U.S. federal income Tax Return (or any similar state and local Tax Return filed on a group basis) of the Parent Group, shall have the
          right to control any such Tax Proceeding relating to the Intended Tax Treatment; provided that (i) the controlling party shall keep the non-controlling
          party fully informed of all material developments, (ii) the non-controlling party (at its own cost) shall have the right to participate in the defense of such Tax Proceeding, and (iii) the controlling party shall not settle or compromise any such
          Tax Proceeding without the non-controlling party’s written consent, which consent may not be unreasonably withheld, conditioned, or delayed (in the case of clause (ii) and (iii), only if such Tax Proceeding could reasonably be expected to (A)
          result in an obligation under Section 13(c)(vii), Section 14(a) or Section 14(b) or (B) adversely affect the Structure Tax Assets); provided, further, that if the non-controlling party withholds its consent to a settlement or compromise, then the non-controlling party shall be liable for Taxes
          resulting from a Final Determination to the extent the basis for the Final Determination is such that the non-controlling party would have liability, in whole or in part, under Section 13(c)(vii), Section 14(a) or Section 14(b), as applicable, as
          a result of such Final Determination. The Company and Parent shall use their reasonable best efforts to ensure that the Final Determination clearly provides the basis for such determination.

      
        35

        
          

      

      

      

      (e)          Parent Control.  Parent shall have the right to control any Tax Proceeding with respect to SpinCo, or any member of the SpinCo Group, relating to one or more members of the SpinCo Group and to any
          Post-Distribution Period; provided, however, that to the extent
          any such matter may give rise to a claim for indemnity by SpinCo or Parent against the Company under Section 14(b) of this Agreement or, except as described in Section 17(d), relates to Structure Benefits allocated to the Company under Section
          13(a), (i) Parent shall keep the Company informed of all material developments and events relating to such matters, (ii) at its own cost and expense, the Company shall have the right to participate in (but not to control) the defense of any such
          tax claim, and (iii) Parent shall not settle or compromise any such tax claim without the prior written consent of the Company (which shall not be unreasonably withheld, conditioned or delayed).

      

      

      SECTION 18.          Notices.

      

      

       All notices, requests and other communications to any party hereunder shall be in writing (including telecopy or similar writing) and
          shall be given,

      

      

      if to the Company or the Company Group, to:

      	 	 	 
	 	
              General Electric Company

            
	 	
              33-41 Farnsworth Street

            
	 	
              Boston, MA 02210

            
	 	
              Attention:  General Counsel

            
	 	
              Facsimile No.: +44 207302 6834

            
	 	
              E-mail: jim.waterbury@ge.com

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

            
	 	 	 
	 	
              Davis Polk & Wardwell LLP

            
	 	
              450 Lexington Avenue

            
	 	
              New York, New York 10017

            
	 	
              Attention:

            	
               Neil Barr

            
	 	 	
              William Curran

            
	 	
              Telecopy: (212) 450-5581

            

      

      

      
        36

        
          

      

      

      

      

      

      

      

      	 	
              if to Parent, SpinCo or the Parent Group or the SpinCo Group, to:

            
	 	 	 
	 	
              Westinghouse Air Brake Technologies Corporation

            
	 	
              1001 Air Brake Avenue

            
	 	
              Wilmerding, Pennsylvania 15148

            
	 	
              Attention:  David L. DeNinno

            
	 	
              Facsimile No.:  412-825-1305

            
	 	
              E-mail:  ddeninno@wabtec.com

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

            
	 	 	 
	 	
              Jones Day

            
	 	
              250 Vesey Street

            
	 	
              New York, New York 10281

            
	 	
              Attention:

            	
              Robert A. Profusek

            
	 	 	
              Richard M. Nugent

            
	 	
              Facsimile No.: 212-755-7306

            
	 	
              E-mail:

            	
              raprofusek@jonesday.com

            
	 	 	
              rnugent@jonesday.com

            

      

      

      or to such other address or telecopy number and with such other copies, as such party may hereafter specify for that purpose by notice to the other party. 
          Each such notice, request or other communication shall be effective (a) on the day delivered (or if that day is not a Business Day, on the first following day that is a Business Day) when (i) delivered personally against receipt or (ii) sent by
          overnight courier, (b) on the day when transmittal confirmation is received if sent by telecopy (or if that day is not a Business Day, on the first following day that is a Business Day), and (c) if given by any other means, upon delivery or
          refusal of delivery at the address specified in this Section 18.

      

      

      SECTION 19.          Costs and Expenses.   Except as expressly set forth in this Agreement, each party shall bear its own costs and expenses incurred pursuant to this Agreement.  For purposes of this
          Agreement, costs and expenses shall include, but not be limited to, reasonable attorneys’ fees, accountants’ fees and other related professional fees and disbursements.  For the avoidance of doubt, unless otherwise specifically provided in the
          Transaction Agreements, all liabilities, costs and expenses incurred in connection with this Agreement by or on behalf of SpinCo or any member of the SpinCo Group in any Pre-Distribution Period shall be the responsibility of the Company and shall
          be assumed in full by the Company.

      

      

      SECTION 20.          Effectiveness; Termination and Survival.   Except as expressly set forth in this Agreement, as between the Company and SpinCo, this Agreement shall become effective upon the
          consummation of the Distribution, and as between the Company, SpinCo and Parent, this Agreement shall become effective upon the consummation of the Merger.  All rights and obligations arising hereunder shall survive until they are fully
          effectuated or performed; provided that, notwithstanding anything in this Agreement to the contrary, this Agreement shall remain in effect and its provisions shall survive for one year after the full period of all applicable statutes of
          limitation (giving effect to any extension, waiver or mitigation thereof) and, with respect to any claim hereunder initiated prior to the end of such period, until such claim has been satisfied or otherwise resolved.  This agreement shall
          terminate without any further action at any time before the Merger Effective Time upon termination of the Merger Agreement.

      
        37

        
          

      

      

      

      SECTION 21.          Specific Performance.   Each party hereto acknowledges that the remedies at law of the other party for a breach or threatened breach of this Agreement would be inadequate and, in
          recognition of this fact, any party to this Agreement, without posting any bond, and in addition to all other remedies that may be available, shall be entitled to obtain equitable relief in the form of specific performance, a temporary
          restraining order, a temporary or permanent injunction or any other equitable remedy that may then be available.

      

      

      SECTION 22.          Captions.   The captions herein are included for convenience of reference only and shall be ignored in the construction or interpretation hereof.

      

      

      SECTION 23.          Entire Agreement; Amendments and Waivers.

      

      

      (a)          Entire Agreement.

      

      

      (i)          This Agreement, the other
          Transaction Agreements and any other agreements contemplated hereby or thereby constitute the entire agreement between the parties with respect to the subject matter hereof and supersede all prior agreements, understandings and negotiations, both
          written and oral, between the parties with respect to the subject matter hereof.

      

      

      (ii)          THE PARTIES ACKNOWLEDGE AND AGREE
          THAT NO REPRESENTATION, WARRANTY, PROMISE, INDUCEMENT, UNDERSTANDING, COVENANT OR AGREEMENT HAS BEEN MADE OR RELIED UPON BY ANY PARTY OTHER THAN THOSE EXPRESSLY SET FORTH IN THIS AGREEMENT AND IN THE OTHER TRANSACTION DOCUMENTS.  WITHOUT LIMITING
          THE GENERALITY OF THE DISCLAIMER SET FORTH IN THE PRECEDING SENTENCE, NEITHER THE COMPANY NOR ANY OF ITS AFFILIATES HAS MADE OR SHALL BE DEEMED TO HAVE MADE ANY REPRESENTATIONS OR WARRANTIES IN ANY PRESENTATION OR WRITTEN INFORMATION RELATING TO
          THE SPINCO BUSINESS GIVEN OR TO BE GIVEN IN CONNECTION WITH THE CONTEMPLATED TRANSACTIONS OR IN ANY FILING MADE OR TO BE MADE BY OR ON BEHALF OF THE COMPANY OR ANY OF ITS AFFILIATES WITH ANY GOVERNMENTAL AUTHORITY, AND NO STATEMENT MADE IN ANY
          SUCH PRESENTATION OR WRITTEN MATERIALS, MADE IN ANY SUCH FILING OR CONTAINED IN ANY SUCH OTHER INFORMATION SHALL BE DEEMED A REPRESENTATION OR WARRANTY HEREUNDER OR OTHERWISE.  SPINCO ACKNOWLEDGES THAT THE COMPANY HAS INFORMED IT THAT NO PERSON
          HAS BEEN AUTHORIZED BY THE COMPANY OR ANY OF ITS AFFILIATES TO MAKE ANY REPRESENTATION OR WARRANTY IN RESPECT OF THE SPINCO BUSINESS OR IN CONNECTION WITH THE CONTEMPLATED TRANSACTIONS, UNLESS IN WRITING AND CONTAINED IN THIS AGREEMENT OR IN ANY
          OF THE OTHER TRANSACTION DOCUMENTS TO WHICH THEY ARE A PARTY.

      
        38

        
          

      

      

      

      (b)          Amendments and Waivers.

      

      

      (i)          This Agreement may be amended, and
          any provision of this Agreement may be waived if and only if such amendment or waiver, as the case may be, is in writing and signed, in the case of an amendment, by the parties or, in the case of a waiver, by the party against whom the waiver is
          to be effective.

      

      

      (ii)          No failure or delay by either
          party in exercising any right, power or privilege under this Agreement shall operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or
          privilege.  Except as otherwise provided herein, no action taken pursuant to this Agreement, including any investigation by or on behalf of any party, shall be deemed to constitute a waiver by the party taking such action of compliance with any
          representations, warranties, covenants or agreements contained in this Agreement.  Any term, covenant or condition of this Agreement may be waived at any time by the party that is entitled to the benefit thereof, but only by a written notice
          signed by such party expressly waiving such term, covenant or condition.  The waiver by any party of a breach of any provision hereunder shall not operate or be construed as a waiver of any prior or subsequent breach of the same or any other
          provision hereunder.

      

      

      SECTION 24.          Governing Law and Interpretation.   This Agreement shall be construed in accordance with and governed by the law of the State of Delaware (without regard to the choice of law
          provisions thereof).

      

      

      SECTION 25.          Dispute Resolution.   In the event of any dispute relating to this Agreement, including but not limited to whether a Tax liability is a liability of the Company Group, the SpinCo
          Group or the Parent Group, the parties shall work together in good faith to resolve such dispute within thirty (30) days.  In the event that such dispute is not resolved, upon written notice by a party after such thirty (30)-day period, the
          matter shall be referred to a U.S. Tax counsel or other Tax advisor of recognized national standing (the “Tax Arbiter”) that will be jointly chosen by the
          Company and Parent; provided, however, that, if the Company and
          the Parent do not agree on the selection of the Tax Arbiter after five (5) days of good faith negotiation, the Tax Arbiter shall consist of a panel of three U.S. Tax counsel or other Tax advisors of recognized national standing with one member
          chosen by the Company, one member chosen by Parent, and a third member chosen by mutual agreement of the other members within the following ten (10)-day period.  Each decision of a panel Tax Arbiter shall be made by majority vote of the members. 
          The Tax Arbiter may, in its discretion, obtain the services of any third party necessary to assist it in resolving the dispute.  The Tax Arbiter shall furnish written notice to the parties to the dispute of its resolution of the dispute as soon
          as practicable, but in any event no later than ninety (90) days after acceptance of the matter for resolution.  Any such resolution by the Tax Arbiter shall be binding on the parties, and the parties shall take, or cause to be taken, any action
          necessary to implement such resolution.  All fees and expenses of the Tax Arbiter shall be shared equally by the parties to the dispute.

      
        39

        
          

      

      

      

      SECTION 26.          Counterparts.   This Agreement may be signed in any number of counterparts (including by facsimile or PDF), each of which shall be an original, with the same effect as if the
          signatures thereto and hereto were upon the same instrument.

      

      

      SECTION 27.          Successors and Assigns; Third Party Beneficiaries.   Except as provided below, this Agreement shall be binding upon and shall inure only to the benefit of the parties hereto and
          their respective successors and assigns, by merger, acquisition of assets or otherwise (including but not limited to any successor of a party hereto succeeding to the Tax Attributes of such party under Applicable Tax Law).  This Agreement is not
          intended to benefit any Person other than the parties hereto and such successors and assigns, and no such other Person shall be a third party beneficiary hereof.  Upon the Merger Effective Time, this Agreement shall be binding on Parent and
          Parent shall be subject to the obligations and restrictions imposed on SpinCo hereunder, including the indemnification obligations of SpinCo under Section 14.

      

      

      SECTION 28.          Authorization, Etc.   Each of the parties hereto hereby represents and warrants that it has the power and authority to execute, deliver and perform this Agreement, that this
          Agreement has been duly authorized by all necessary corporate action on the part of such party, that this Agreement constitutes a legal, valid and binding obligation of each such party, and that the execution, delivery and performance of this
          Agreement by such party does not contravene or conflict with any provision or law or of its charter or bylaws or any agreement, instrument or order binding on such party.

      

      

      SECTION 29.          Change in Tax Law.   Any reference to a provision of the Code, Treasury regulations or any other Applicable Tax Law shall include a reference to any applicable successor
          provision of the Code, Treasury regulations or other Applicable Tax Law; provided that, in the event of any amendment to any provision of the Code,
          Treasury regulations or any other Applicable Tax Law (or any successor provision thereto) or any promulgation of official, published guidance with respect thereto, the underlying principles of calculation and allocation in this Agreement shall
          apply mutatis mutandis, and the parties hereto shall cooperate in good faith to apply such principles in such manner.

      

      

      [SIGNATURE PAGE FOLLOWS]

      
        40

        
          

      

      IN WITNESS WHEREOF, the parties have executed and delivered this Agreement as of the day and year first written above.

       

        

      	 	
              The Company on its own behalf and on behalf of the members of the Company Group.

            
	 	 	 	 
	 	
              By:

            	
              /s/ Michael Jones

            
	 	 	
              Name:

            	
              Michael Jones

            
	 	 	
              Title:

            	
              Vice President, Business Development

            
	 	 	 	 
	 	
              SpinCo on its own behalf and on behalf of the members of the SpinCo Group.

            
	 	 	 	 
	 	
              By:

            	
              /s/ Thomas LaFrance

            
	 	 	
              Name:

            	
              Thomas LaFrance

            
	 	 	
              Title:

            	
              General Counsel & Secretary

            
	 	 	 	 
	 	
              Parent on its own behalf and on behalf of the members of the Parent Group.

            
	 	 	 	 
	 	
              By:

            	
              /s/ Raymond T. Betler

            
	 	 	
              Name:

            	
              Raymond T. Betler

            
	 	 	
              Title:

            	
              President and Chief Executive Officer

            
	 	 	 	 
	 	
              Direct Sale Purchaser

            
	 	 	 	 
	 	
              By:

            	
              /s/ David DeNinno

            
	 	 	
              Name:

            	
              David DeNinno

            
	 	 	
              Title:

            	
              President and Secretary

            

      

      

      
        
          

      

      

      

      

      

      SCHEDULE A

      

      

      DIRECT SALE ALLOCATION PRINCIPLES1

      	
              Legal Entity Name

            	
              Direct Sale Value Allocation

              (All numbers in USD)

            
	
              GE Transportes Ferroviarios S/A

            	
              278,218,606

            
	
              Brazil real estate assets described in item (5) of Schedule 2.01(a) of the Separation Agreement

            	
              9,926,105

            
	
              GE Transportation Systems (China) Co. Ltd.

            	
              43,908,322

            
	
              GE South Africa Technologies (Proprietary) Limited2

            	
              1,681,174

            
	
              GE Transportation Group Holdings PTY LTD

            	
              113,686,360

            
	
              Transportation Global Egypt LLC

            	
              12,994,350

            
	
              Transportation Egypt Services LLC

            	
              131,2563

            
	
              PT Transportation Solutions Indonesia

            	
              9,403,617

            
	
              Locomotive Manufacturing and Services, S.A. de C.V.

            	
              353,801,377

            
	
              GE Manufacturing Solutions, LLC

            	
              270,159,113

            
	
              General Electric Canada assets described in item (3) of Schedule 2.01(a) of the Separation Agreement

            	
              276,797,060

            
	
              General Electric Canada Company assets described in item (5) of Schedule 2.01(a) of the Separation Agreement

            	
              -

            
	
              General Electric Company assets described in item (1) and item (2) of Schedule 2.01(a) of the Separation Agreement

            	
              1,219,922,000

            
	
              Transferred Notes

            	
              284,370,660

            
	
              Total

            	
              2,875,000,000

            

      

      

      

      

      

      

      

      

      

      

      

      

      

      

      

      

      

      
        	
                1

              	
                All valuations are on a cash-free basis.

              

      

      
        	
                2

              	
                This figure reflects an aggregate amount to be allocated to (i) the shares of GE South Africa Technologies (Proprietary) Limited and (ii) the
                    contractual rights, obligations, title, benefits and interests described in item (6) of Schedule 2.01(a) of the Separation Agreement.

              

      

      
        	
                3

              	
                This value for Transportation Egypt Services LLC represents only the value of the shares directly transferring to Parent in the Direct Sale.

              

      

      
        
          

      

      

      

      

      

      SCHEDULE B

      

      

      REFERENCE ASSET PARTNERSHIPS, DISREGARDED ENTITIES AND BRANCHES

      

      

      
        
          	

                	1.	
                  GE Global Sourcing LLC

                

        

      

      

      

      
        
          	

                	2.	
                  GE Diesel Locomotive Private Limited

                

        

      

      

      

      
        
          	

                	3.	
                  Komatsu GE Mining Systems, LLC

                

        

      

      

      

      
        
          	

                	4.	
                  GE Global Sourcing II LLC

                

        

      

      

      

      
        
          	

                	5.	
                  GE Global Sourcing India Pvt Ltd

                

        

      

      

      

      
        
          	

                	6.	
                  GE-UGM, LLC

                

        

      

      

      

      
        
          	

                	7.	
                  GE Transportation Parts, LLC

                

        

      

      

      

      
        
          	

                	8.	
                  GE Manufacturing Solutions, LLC

                

        

      

      

      

      
        
          	

                	9.	
                  Transportation Global LLC - Angola Branch

                

        

      

      

      

      
        
          	

                	10.	
                  Transportation Global LLC - Colombia Branch

                

        

      

      

      

      
        
          	

                	11.	
                  Transportation Global LLC - Ghana Branch

                

        

      

      

      

      
        
          	

                	12.	
                  Transportation Global LLC - Kazakhstan Branch

                

        

      

      

      

      
        
          	

                	13.	
                  Transportation Global LLC - Peru Branch

                

        

      

      

      

      
        
          	

                	14.	
                  Transportation Global LLC - Dubai Branch

                

        

      

      

      

      
        
          	

                	15.	
                  Transportation Global LLC - Abu Dhabi Branch

                

        

      

      

      

      
        
          	

                	16.	
                  Transportation Global LLC - Zambia Branch

                

        

      

      
        
          

      

      

      

      SCHEDULE C

      

      

      “QUALIFIED PROPERTY” (TRANSACTIONS OTHER THAN DIRECT SALE)

      

      

      
        
          	

                	1.	
                  Software described in Section 168(k)(2) of the Code the tax basis of which is adjusted for U.S. federal income tax purposes, including pursuant to Section 743(b) of the
                      Code, in connection with the SpinCo Transfer, the Distribution or the Merger.

                

        

      

      

      

      
        
          	

                	2.	
                  All other property, plant and equipment (but excluding buildings and real property) described in Section 168(k)(2) of the Code the tax basis of which is adjusted for U.S.
                      federal income tax purposes, including pursuant to Section 743(b) of the Code, in connection with the SpinCo Transfer, the Distribution or the Merger.

                

        

      

      
        
          

      

      

      

      SCHEDULE D

      

      

      “QUALIFIED PROPERTY” (DIRECT SALE)

      

      

      
        
          	

                	1.	
                  Software described in Section 168(k)(2) of the Code the tax basis of which is adjusted for U.S. federal income tax purposes, including pursuant to Section 743(b) of the
                      Code, in connection with the Direct Sale.

                

        

      

      

      

      
        
          	

                	2.	
                  Rotable parts described in Section 168(k)(2) of the Code the tax basis of which is adjusted for U.S. federal income tax purposes, including pursuant to Section 743(b) of
                      the Code, in connection with the Direct Sale.

                

        

      

      

      

      
        
          	

                	3.	
                  All other property, plant and equipment (but excluding buildings and real property) described in Section 168(k)(2) of the Code the tax basis of which is adjusted for U.S.
                      federal income tax purposes, including pursuant to Section 743(b) of the Code, in connection with the Direct Sale.

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