Document:

EX-10.2

 Exhibit 10.2 

TAX MATTERS AGREEMENT 

by and between 
 ZIFF
DAVIS,, INC. 
 and 

CONSENSUS CLOUD SOLUTIONS, INC. 

Dated as of 
 October 7,
2021 
  

 TAX MATTERS AGREEMENT 

This TAX MATTERS AGREEMENT (this “Agreement”), dated as of October 7, 2021, by and between Ziff Davis, Inc., a Delaware
corporation (“Parent”), and Consensus Cloud Solutions, Inc., a Delaware corporation and a wholly owned subsidiary of Parent (“SpinCo”). 

R E C I T A L S 
 WHEREAS, the
board of directors of Parent (the “Parent Board”) has determined that it is in the best interests of Parent and its shareholders to create a new publicly traded company that shall operate the SpinCo Business; 

WHEREAS, in furtherance of the foregoing, the Parent Board has determined that it is appropriate and desirable to separate the SpinCo Business
from the Parent Business in the manner set forth in the Global Transaction Structure (the “Separation”) and, in connection with the Separation, make a distribution, on a pro rata basis, to holders of Parent Shares on the Record Date
of at least eighty and one-tenth percent (80.1%) of the outstanding SpinCo Shares owned by Parent (the “Distribution”); 

WHEREAS, SpinCo has been incorporated solely for these purposes and has not engaged in activities, except in connection with the Separation
and the Distribution; 
 WHEREAS, Parent intends to use the SpinCo Securities received in exchange for the Contribution, the Cash
Distribution and the Additional Cash to retire existing Parent debt; 
 WHEREAS, in order to effectuate the Separation and the Distribution,
Parent and SpinCo have entered into a Separation and Distribution Agreement, dated as of the date hereof (the “Separation Agreement”); 

WHEREAS, J2 Global Ireland Limited, an Irish limited company and wholly-owned subsidiary of Parent, will transfer all of its portion of the
SpinCo Business to Consensus Cloud Solutions International Ltd., an Irish limited company treated as a corporation for U.S. federal income tax purposes (“Consensus International”), in exchange for the issuance by Consensus
International of new shares of Consensus International to J2 Cloud Services, LLC, a Delaware limited liability company and a wholly-owned subsidiary of Parent (the “Irish Demerger”). 

WHEREAS, pursuant to the terms of the Separation Agreement, Parent will contribute all of the SpinCo Assets and all of the equity of J2 Cloud
Services, LLC to SpinCo in exchange for SpinCo’s assumption of the SpinCo Liabilities, all of the SpinCo Shares, the SpinCo Cash Amount and the SpinCo Securities (the “Contribution”); 

WHEREAS, following the Distribution, Parent may retain up to 19.9% of the outstanding SpinCo Shares (the “Retained Shares”)
and intends to, within 12 months of the Distribution, effect distributions of the Retained Shares to Parent stockholders as dividends or in exchange for outstanding shares of Parent common stock (any such distribution, a “Subsequent
Distribution”) or transfer such Retained Shares to Parent creditors in satisfaction of certain Parent debt (any such transfer, a “Debt-for-Equity
Exchange”); 
  

 WHEREAS, if any portion of the Retained Shares has not been disposed of pursuant to a
Subsequent Distribution within the 12-month period, Parent will dispose of such Retained Shares in all events within five years of the Distribution; 

WHEREAS, following the Distribution, Parent shall transfer the SpinCo Securities to certain Persons (the “Debt-for-Debt Exchange Parties”) in exchange for certain debt obligations of Parent held by the
Debt-for-Debt Exchange Parties as principals for their own account (the
“Debt-for-Debt Exchange”); 
 WHEREAS, for
U.S. federal income tax purposes, the Contribution, the Distribution, any Subsequent Distribution, the Debt-for-Debt Exchange, and any Debt-for-Equity Exchange, taken together, are intended to qualify as a transaction that is generally tax-free for U.S. federal income tax purposes under Sections 355,
368(a)(1)(D) and 361(c) of the Code; 
 WHEREAS, SpinCo has been incorporated for these purposes but holds no assets and has engaged in no
activities; and 
 WHEREAS, SpinCo and Parent have prepared, and SpinCo has filed with the U.S. Securities and Exchange Commission, the Form
10, which includes the Information Statement, and which sets forth disclosures concerning SpinCo, the Separation and the Distribution; 

WHEREAS, the parties hereto wish to provide for the payment of Taxes and entitlement to Refunds thereof, allocate responsibility and provide
for cooperation in connection with the filing of returns in respect of Taxes, and provide for certain other matters relating to Taxes. 

WHEREAS, the Parties acknowledge that this Agreement, the Separation Agreement and the other Ancillary Agreements represent the integrated
agreement of Parent and SpinCo relating to the Separation and the Distribution, are being entered into together and would not have been entered into independently. 

NOW, THEREFORE, in consideration of the mutual agreements, provisions and covenants contained in this Agreement, and for other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties, intending to be legally bound, hereby agree as follows: 

1. Definitions. Capitalized terms used but not defined herein shall have the respective meanings assigned to them in the Separation
Agreement. For purposes of this Agreement, the following terms shall have the meanings set forth below: 
 “Actually
Realized” or “Actually Realizes” shall mean, for purposes of determining the timing of the incurrence of any Spin-Off Tax Liability, Income Tax Liability or Other Tax Liability or the
realization of a Refund (or any related Tax cost or Tax Benefit), whether by receipt or as a credit or other offset to Taxes payable, by a Person in respect of any payment, transaction, occurrence or event, the time at which the amount of Taxes paid
(or Refund realized) by such Person is increased above (or reduced below) the amount of Taxes that such Person would have been required to pay (or Refund that such Person would have realized) but for such payment, transaction, occurrence or event.

  
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 “Aggregate Spin-Off Tax
Liabilities” shall mean the sum of the Spin-Off Tax Liabilities with respect to each Taxing Jurisdiction. 

“Business Day” shall mean any day other than a Saturday, a Sunday or a day on which banking institutions are
generally authorized or required by law to close in the United States or Los Angeles, California. 

“Carryback” shall mean the carryback of a Tax Attribute (including, without limitation, a net operating loss,
a net capital loss or a tax credit) by a member of the SpinCo Group from a Post-Distribution Taxable Period to a Pre-Distribution Taxable Period during which such member of the SpinCo Group was included in a
Combined Return filed for such Pre-Distribution Taxable Period. 
 “Cash
Acquisition Merger” shall mean a merger of a newly formed Subsidiary of SpinCo with a corporation, limited liability company, limited partnership, general partnership or joint venture (in each case, not previously owned directly or
indirectly by SpinCo) pursuant to which SpinCo acquires such corporation, limited liability company, limited partnership, general partnership or joint venture solely for cash and no Equity Securities of SpinCo or any SpinCo Subsidiary are issued,
sold, redeemed or acquired, directly or indirectly. 
 “Code” shall mean the Internal Revenue Code of 1986,
as amended. 
 “Combined Return” shall mean a consolidated, combined or unitary Income Tax Return or Other
Tax Return that actually includes, by election or otherwise, one or more members of the Parent Group together with either (i) one or more members of the SpinCo Group or (ii) any portion of the SpinCo Business (in either case including any
such Income Tax Return that is a consolidated U.S. federal Income Tax Return of the Parent Consolidated Group). 

“Consensus International” shall have the meaning set forth in the recitals of this Agreement. 

“Contribution” shall have the meaning set forth in the recitals of this Agreement. 

“Debt-for-Debt Exchange” shall
have the meaning set forth in the recitals of this Agreement. 
 “Debt-for-Equity Exchange” shall have the meaning set forth in the recitals of this Agreement. 

“Distribution” shall mean the distribution, on a pro rata basis, to holders of Parent Shares on the
Record Date of at least eighty and one-tenth percent (80.1%) of the outstanding SpinCo Shares owned by Parent pursuant to the Separation Agreement. 

“Distribution Date” shall mean the date on which the Distribution is completed, pursuant to the Separation
Agreement. 

  
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 “Distribution-Related Proceeding” shall mean any Proceeding
in which the IRS, another Tax Authority or any other party asserts a position that could reasonably be expected to adversely affect the Tax-Free Status of the Spin-Off
Transactions. 
 “EMA” shall mean the Employee Matters Agreement by and between Parent and SpinCo dated as
of October 7, 2021. 
 “Equity Securities” shall mean any stock or other securities treated as equity for
U.S. federal Income 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. 
 “Final Determination” shall mean the final resolution of liability for any Tax,
which resolution may be for a specific issue or adjustment or for a taxable period, (a) by IRS Form 870 or 870-AD (or any successor forms thereto), on the date of acceptance by or on behalf of the
taxpayer, or by a comparable form under the laws of any Taxing Jurisdiction, except that a Form 870 or 870-AD or comparable form shall not constitute a Final Determination to the extent that it reserves
(whether by its terms or by operation of law) the right of the taxpayer to file a claim for Refund or the right of the Tax Authority to assert a further deficiency in respect of such issue or adjustment or for such taxable period (as the case may
be); (b) by a decision, judgment, decree, or other order by a court of competent jurisdiction, which has become final and unappealable; (c) by a closing agreement or accepted offer in compromise under Sections 7121 or 7122 of the Code, or a
comparable agreement under the laws of any Taxing Jurisdiction; (d) by any allowance of a Refund or credit in respect of an overpayment of Tax, but only after the expiration of all periods during which such Refund may be recovered (including by
way of offset) by the Taxing Jurisdiction imposing such Tax; or (e) by any other final disposition, including by reason of the expiration of the applicable statute of limitations or by mutual agreement of the parties. 

“Foreign Tax” means any Tax (including any interest, penalties, additions to tax, or additional amounts in
respect of Tax) that is imposed by any country (other than the United States) or a political subdivision of such country. 

“Former Employee” shall have the meaning ascribed to such term in the EMA. 

“Global Transaction Structure” shall mean the plan set forth on Schedule 2.1(a) of the Separation Agreement
setting forth the restructuring steps to be taken prior to the Distribution Date and the sequence thereof. 
 “Income
Taxes” (a) shall mean (i) any U.S. federal, state, local or foreign taxes, charges, fees, imposts, levies or other assessments that are based upon, measured by, or calculated with respect to (A) net income or profits (including,
but not limited to, any capital gains, gross receipts, or minimum tax, and any tax on items of tax preference, but not including sales, use, value added, real property gains, real or personal property, transfer or similar taxes), (B) multiple bases
(including, but not limited to, corporate 

  
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franchise, doing business or occupation taxes), if one or more of the bases upon which such tax may be based, by which it may be measured, or with respect to which it may be calculated is
described in clause (a)(i)(A) of this definition, or (C) any net worth, franchise or similar tax, in each case together with (ii) any interest and any penalties, fines, additions to tax or additional amounts imposed by any Tax Authority
with respect thereto and (b) shall include any transferee or successor liability in respect of an amount described in clause (a) of this definition. 

“Income Tax Benefit” shall mean, with respect to the effect of any Carryback on the Income Tax Liability of
Parent or the Parent Group for any taxable period, the excess of (a) the hypothetical Income Tax Liability of Parent or the Parent Group for such taxable period, calculated as if such Carryback had not been utilized but with all other facts
unchanged over (b) the actual Income Tax Liability of Parent or the Parent Group for such taxable period, calculated taking into account such Carryback (and treating a Refund as a negative Income Tax Liability, for purposes of such
calculation). 
 “Income Tax Liabilities” shall mean all liabilities for Income Taxes. 

“Income Tax Return” shall mean any return, report, filing, statement, questionnaire, declaration or other
document required to be filed with a Tax Authority in respect of Income Taxes. 
 “Indemnified Party” shall
mean any Person seeking indemnification pursuant to the provisions of this Agreement. 
 “Indemnifying
Party” shall mean any party hereto from which any Indemnified Party is seeking indemnification pursuant to the provisions of this Agreement. 

“Irish Demerger” shall have the meaning set forth in the recitals of this Agreement. 

“IRS” shall mean the U.S. Internal Revenue Service. 

“KPMG” shall mean KPMG LLP. 

“KPMG Tax Opinion” shall mean any tax opinion issued by KPMG in connection with the
Spin-Off Transactions. 
 “Losses” shall mean any and all losses,
liabilities, claims, damages, obligations, payments, costs and expenses, matured or unmatured, absolute or contingent, accrued or unaccrued, liquidated or unliquidated, known or unknown (including, without limitation, the costs and expenses of any
and all Actions, threatened Actions, demands, assessments, judgments, settlements and compromises relating thereto and attorneys’ fees and any and all expenses whatsoever reasonably incurred in investigating, preparing or defending against any
such Actions or threatened Actions). 
 “Other Tax Liabilities” shall mean all liabilities for Other Taxes.

  
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 “Other Tax Returns” shall mean any return, report, filing,
statement, questionnaire, declaration or other document required to be filed with a Tax Authority in respect of Other Taxes. 

“Other Taxes” shall mean any U.S. federal, state, local or foreign taxes, charges, fees, imposts, levies or
other assessments of any nature whatsoever, and without limiting the generality of the foregoing, shall include superfund, sales, use, ad valorem, value added, occupancy, transfer, recording, escheat, unclaimed property, withholding, payroll,
employment, excise, occupation, premium or property taxes (in each case, together with any related interest, penalties and additions to tax, or additional amounts imposed by any Tax Authority thereon); provided, however, that Other Taxes
shall not include any Income Taxes. 
 “Parent Business” shall have the meaning ascribed to such term in the
Separation Agreement. 
 “Parent Combined Return Taxes” shall mean any Taxes (or estimated Taxes) due or
required to be paid with respect to or required to be reported on any consolidated U.S. federal Income Tax Return of the Parent Consolidated Group or any other Combined Tax Return that are attributable to any member of the Parent Group. 

“Parent Consolidated Group” shall mean the affiliated group of corporations (within the meaning of
Section 1504(a) of the Code without regard to the exclusions in Section 1504(b)(1) through (8)) of which Parent is the common parent (and any predecessor or successor to such affiliated group). 

“Parent Group” shall mean (a) Parent and each Person that is a direct or indirect Subsidiary of Parent
(including any Subsidiary of Parent that is disregarded for U.S. federal Income Tax purposes (or for purposes of any state, local, or foreign tax law)) immediately after the Distribution after giving effect to the
Spin-Off Transactions, any corporation (or other Person) that shall have merged or liquidated into Parent or any such Subsidiary and any predecessor or successor to any Person otherwise described in this
definition. 
 “Parent Group Employee” shall have the meaning ascribed to such term in the EMA. 

“Parent Option Award” shall have the meaning ascribed to such term in the EMA. 

“Parent Restricted Stock Award” shall have the meaning ascribed to such term in the EMA. 

“Parent RSU Award” shall have the meaning ascribed to such term in the EMA. 

“Parent Separate Return” shall mean any Separate Return required to be filed by Parent or any member of the
Parent Group. 

  
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 “Parent Shares” shall have the meaning ascribed to such
term in the Separation Agreement. 
 “Parties” shall mean the parties to this Agreement. 

“Permitted Transaction” shall mean any transaction that satisfies the requirements of Section 4(c). 

“Person” shall mean any individual, partnership, joint venture, limited liability company, corporation,
association, joint stock company, trust, unincorporated organization or similar entity or a governmental authority or any department or agency or other unit thereof. 

“Post-Distribution Taxable Period” shall mean a taxable period that, to the extent it relates to a member of
the SpinCo Group, begins after the Distribution Date, and, in the case of any Straddle Period, the portion of such Straddle Period beginning the day after the Distribution Date. 

“Pre-Distribution Taxable Period” shall mean a taxable period that, to
the extent it relates to a member of the SpinCo Group, ends on or before the Distribution Date, and, in the case of any Straddle Period, the portion of such Straddle Period ending on the Distribution Date. 

“Post-Separation Parent Awards” shall have the meaning ascribed to such term in the EMA. 

“Private Letter Ruling” shall mean (a) any private letter ruling issued by the IRS in connection with the
Spin-Off Transactions (including the private letter ruling issued to Parent on July 6, 2021) or (b) any similar ruling issued by any other Tax Authority in connection with the Spin-Off Transactions. 
 “Private Letter Ruling Documents” shall mean
(a) any Private Letter Ruling, any request for a Private Letter Ruling submitted to the IRS (including the request for rulings submitted by Parent to the IRS on April 14, 2021), together with the appendices and exhibits thereto and any
supplemental filings or other materials subsequently submitted to the IRS in connection with the Spin-Off Transactions, or (b) any similar filings submitted to any other Tax Authority in connection with
any such request for a Private Letter Ruling. 
 “Proceeding” shall mean any audit or other examination, or
judicial or administrative proceeding relating to liability for, or Refunds or adjustments with respect to, Taxes. 

“Refund” shall mean any refund of Taxes, including any reduction in Tax Liabilities by means of a credit,
offset or otherwise. 

  
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 “Representative” shall mean, with respect to any Person,
any of such Person’s directors, officers, employees, agents, consultants, advisors, accountants, attorneys or other representatives. 

“Restriction Period” shall mean the period beginning on the date hereof and ending on the thirty seven
(37) month anniversary of the Distribution Date. 
 “RSU” shall have the meaning ascribed to such term
in the EMA. 
 “Section 336(e) Election” shall have the meaning ascribed to such term in
Section 2(c) of this Agreement. 
 “Separate Return” shall mean (a) in the case of any Tax Return
required to be filed by any member of the SpinCo Group (including any consolidated, combined or unitary return), any such Tax Return that does not include any member of the Parent Group and (b) in the case of any Tax Return required to be filed
by any member of the Parent Group (including any consolidated, combined or unitary return), any such Tax Return that does not include any member of the SpinCo Group. 

“Separation Agreement” shall have the meaning set forth in the recitals of this Agreement. 

“SpinCo Adjustment” shall mean an adjustment of any item of income, gain, loss, deduction or credit
attributable to any member of the SpinCo Group (including, in the case of any state or local consolidated, combined or unitary income or franchise Taxes, a change in one or more apportionment factors of members of the SpinCo Group) pursuant to a
Final Determination for a Pre-Distribution Taxable Period. 
 “SpinCo
Awards” shall have the meaning ascribed to such term in the EMA. 
 “SpinCo Business” shall mean
each trade or business actively conducted (within the meaning of Section 355(b) of the Code) by SpinCo or any member of the SpinCo Group immediately after the Distribution, as set forth in the Tax Opinion Documents. 

“SpinCo Cash Amount” shall mean the amount of cash distributed to Parent in connection with the Distribution
as partial consideration for the Contribution, pursuant to the Separation Agreement. 
 “SpinCo Combined Return
Taxes” shall mean any Taxes (or estimated Taxes) due or required to be paid with respect to or required to be reported on any consolidated U.S. federal Income Tax Return of the Parent Consolidated Group or any other Combined Tax Return that
are attributable to any member of the SpinCo Group or reflect any portion of the SpinCo Business. 

  
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 “SpinCo Consolidated Group” shall mean the affiliated group
of corporations (within the meaning of Section 1504(a) of the Code without regard to the exclusions in Section 1504(b)(1) through (8)) of which SpinCo is the common parent, determined immediately after the Distribution (and any predecessor
or successor to such affiliated group other than the Parent Consolidated Group). 
 “SpinCo Group” shall
mean (a) SpinCo and each Person that is a direct or indirect Subsidiary of SpinCo (including any Subsidiary of SpinCo that is disregarded for U.S. federal Income Tax purposes (or for purposes of any state, local, or foreign tax law))
immediately after the Distribution, after giving effect to the Spin-Off Transactions, any corporation (or other Person) that shall have merged or liquidated into SpinCo or any such Subsidiary and any
predecessor or successor to any Person otherwise described in this definition. 
 “SpinCo Group Employee”
shall have the meaning ascribed to such term in the EMA. 
 “SpinCo Option Award” shall have the meaning
ascribed to such term in the EMA. 
 “SpinCo Restricted Stock Award” shall have the meaning ascribed to such
term in the EMA. 
 “SpinCo RSU Award” shall have the meaning ascribed to such term in the EMA. 

“SpinCo Securities” shall mean the seven-year notes issued by SpinCo and distributed to Parent in connection
with the Distribution as partial consideration for the Contribution, pursuant to the Separation Agreement. 
 “SpinCo
Separate Return” shall mean any Separate Return required to be filed by SpinCo or any member of the SpinCo Group, including, without limitation, (a) any consolidated U.S. federal Income Tax Return of the SpinCo Consolidated Group
required to be filed with respect to a Post-Distribution Taxable Period and (b) any consolidated U.S. federal Income Tax Return for any group of which any member of the SpinCo Group was the common parent. 

“SpinCo Service Provider” shall mean any “SpinCo Group Employee” as such term is defined in the EMA
or any other provider of services to any member of the SpinCo Group. 
 “SpinCo Shares” shall have the
meaning ascribed to such term in the Separation Agreement. 
 “SpinCo Tax Benefit” shall mean, with respect
to any Taxing Jurisdiction, any decrease in Tax Liability (or increase in a Refund) Actually Realized with respect to a Combined Return that is attributable to a SpinCo Adjustment. 

“SpinCo Tax Liability” shall mean, with respect to any Taxing Jurisdiction, any increase in Tax Liability (or
reduction in a Refund) Actually Realized with respect to a Combined Return that is attributable to a SpinCo Adjustment. 

  
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 “Spin-Off
Transactions” shall mean the Contribution together with the Distribution, the Debt-for-Debt Exchange, any Subsequent Distribution and any Debt-for-Equity Exchange and the Irish Demerger. 

“Spin-Off Tax Liabilities” shall mean, with respect to any Taxing
Jurisdiction, the sum of (a) any increase in Tax Liability (or reduction in a Refund) Actually Realized as a result of any corporate-level gain or income recognized with respect to the failure of the
Spin-Off Transactions to qualify for Tax-Free Status under the Income Tax Laws of such Taxing Jurisdiction pursuant to any settlement, Final Determination, judgment,
assessment, proposed adjustment or otherwise, (b) interest on such amounts calculated pursuant to such Taxing Jurisdiction’s laws regarding interest on Tax Liabilities at the highest Underpayment Rate for corporations in such Taxing
Jurisdiction from the date such additional gain or income was recognized until full payment with respect thereto is made pursuant to Section 3 hereof (or in the case of a reduction in a Refund, the amount of interest that would have been
received on the foregone portion of the Refund but for the failure of the Spin-Off Transactions to qualify for Tax-Free Status), and (c) any penalties actually paid
to such Taxing Jurisdiction that would not have been paid but for the failure of the Spin-Off Transactions to qualify for Tax-Free Status in such Taxing Jurisdiction.

 “Straddle Period” shall mean any taxable year or other taxable period that begins on or before the
Distribution Date and ends after the Distribution Date. 
 “Tax Attribute” shall mean a consolidated,
combined or unitary net operating loss, net capital loss, unused investment credit, unused foreign tax, or excess charitable contribution (as such terms are used in Treasury Regulation Sections 1.1502-79 and 1.1502-79A or comparable provisions of foreign, state or local tax law), or a minimum tax credit or general business credit. 

“Tax Authority” shall mean a governmental authority (foreign or domestic) or any subdivision, agency,
commission or authority thereof or any quasi-governmental or private body having jurisdiction over the assessment, determination, collection or imposition of any Tax (including, without limitation, the IRS). 

“Tax Benefits” shall mean any (i) deductions, losses, or credits, or (ii) decreases in income, gains
or recapture of Tax credits for the benefitting entity (or group of entities). 
 “Tax Counsel” shall mean
tax counsel of recognized national standing that is acceptable to Parent. 
 “Tax” or
“Taxes” shall mean Income Taxes and Other Taxes. 

“Tax-Free Status” shall mean the qualification of (i) the
Contribution (and Parent’s receipt of the SpinCo Common Stock, the SpinCo Securities, and the SpinCo Cash Amount in connection therewith), the Distribution and any Subsequent Distribution, taken together, as a reorganization described in
Sections 368(a)(1)(D) and 355(a) of the Code, with each of Parent and SpinCo being a party to the reorganization, in which no 

  
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income or gain is recognized by Parent, SpinCo, or the holders of Parent common stock pursuant to Sections 355, 361, and 1032 of the Code, other than, in the case of Parent, (a) intercompany
items or excess loss accounts taken into account pursuant to the Treasury Regulations promulgated pursuant to Section 1502 of the Code and (b) any amount of the Cash Payment that exceeds Parent’s tax basis in the SpinCo Shares
immediately prior to the Cash Payment or that Parent does not distribute to its creditors or shareholders within 12 months, and (ii) each of the Debt-for-Debt
Exchange and any Debt-for-Equity Exchange as a transfer of “qualified property” to creditors of Parent in connection with the reorganization within the meaning
of Section 361(c) of the Code. 
 “Taxing Jurisdiction” shall mean the United States and every other
government or governmental unit having jurisdiction to tax Parent or SpinCo or any of their respective Affiliates. 

“Tax Liabilities” shall mean any liabilities for Taxes. 

“Tax Opinion” shall mean any tax opinion issued by Tax Counsel in connection with the Spin-Off Transactions. 
 “Tax Opinion Documents” shall mean the Tax
Opinion, the KPMG Tax Opinion, and the information and representations provided by, or on behalf of, Parent or SpinCo to Tax Counsel or KPMG in connection therewith. 

“Tax-Related Losses” shall mean: 

(a) the Aggregate Spin-Off Tax Liabilities, 

(b) all accounting, legal and other professional fees, and court costs incurred in connection with any settlement, Final
Determination, judgment or other determination with respect to such Aggregate Spin-Off Tax Liabilities, and 

(c) all costs, expenses and damages associated with stockholder litigation or controversies and any amount paid by Parent or
SpinCo in respect of the liability of shareholders, whether paid to shareholders or to the IRS or any other Tax Authority payable by Parent or SpinCo or their respective Affiliates, in each case, resulting from the failure of the Spin-Off Transactions to qualify for Tax-Free Status. 

“Tax Returns” shall mean Income Tax Returns and Other Tax Returns. 

“Underpayment Rate” shall mean the annual rate of interest described in Section 6621(c) of the Code for
large corporate underpayments of Income Tax (or similar provision of state, local, or foreign Income Tax law, as applicable), as determined from time to time. 

“Unqualified Tax Opinion” shall mean an unqualified opinion of Tax Counsel on which Parent may rely to the
effect that a transaction will not disqualify any of the Spin-Off Transactions from having Tax-Free Status, assuming that the
Spin-Off Transactions would have qualified for Tax-Free Status if such transaction did not occur; provided, that

  
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any tax opinion obtained in connection with a proposed acquisition of Equity Securities of SpinCo (or any entity treated as a successor to SpinCo) entered into during the Restriction Period shall
not qualify as an Unqualified Tax Opinion unless such tax opinion concludes that such proposed acquisition will not be treated as “part of a plan (or series of related transactions),” within the meaning of Section 355(e) of the Code
and the Treasury Regulations promulgated thereunder, that includes the Distribution. 
 2. Tax Returns; Payment of Taxes; Tax
Elections. 
 (a) Filing of Tax Returns; Payment of Taxes. 

(i) Parent Consolidated Returns; Other Combined Returns. Parent shall prepare and file or cause to be prepared and filed (A) all
consolidated U.S. federal Income Tax Returns of the Parent Consolidated Group and (B) all other Combined Returns. Except as provided in Section 2(a)(ii), Section 2(a)(iii) or Section 2(a)(vii), Parent shall pay, or cause to be
paid, and shall be responsible for, any and all Taxes due or required to be paid with respect to or required to be reported on any such Tax Return; provided, however, that any Tax Liabilities incurred pursuant to the separation of certain
members of the SpinCo Group and/or certain members of the Parent Group from groups of companies that file a Combined Return in respect of Foreign Taxes pursuant to the laws of Canada, France, Hong Kong, Ireland, Japan, and the Netherlands shall be
allocated to fifty percent (50%) to SpinCo and fifty percent (50%) to Parent. 
 (ii) SpinCo Adjustments. SpinCo shall pay, or cause
to be paid, and shall be responsible for, any SpinCo Tax Liabilities and shall be entitled to all SpinCo Tax Benefits. 
 (iii)
Post-Distribution Combined Returns. In the event that any Combined Return is required to be filed pursuant to applicable law in any Taxing Jurisdiction for any Straddle Period or Post-Distribution Taxable Period, Parent shall pay, or cause to
be paid, and shall be responsible for, any and all Taxes due or required to be paid with respect to or required to be reported on any such Tax Return that are Parent Combined Return Taxes and SpinCo shall pay, or cause to be paid, and shall be
responsible for, any and all Taxes due or required to be paid with respect to or required to be reported on any such Tax Return that are SpinCo Combined Return Taxes. 

(iv) Parent Separate Returns. Parent shall prepare and file or cause to be prepared and filed all Parent Separate Returns. Parent shall
pay, or cause to be paid, and shall be responsible for, any and all Taxes due or required to be paid with respect to or required to be reported on any Parent Separate Return (including any increase in such Tax Liabilities attributable to a Final
Determination). 
 (v) SpinCo Separate Returns. SpinCo shall prepare and file or cause to be prepared and filed all SpinCo Separate
Returns. SpinCo shall pay, or cause to be paid, and shall be responsible for, any and all Taxes due or required to be paid with respect to or required to be reported on any SpinCo Separate Return (including any increase in such Tax Liabilities
attributable to a Final Determination). 

  
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 (vi) Straddle Period Taxes. For purposes of this Section 2, in the case of any
Straddle Period, (i) Taxes and exemptions, allowances or deductions that are calculated on an annualized basis shall be apportioned between the Pre-Distribution Taxable Period and the Post-Distribution
Taxable Period on a daily pro rata basis and (ii) all other Taxes shall be apportioned between the Pre-Distribution Taxable Period and the Post-Distribution Taxable Period on a closing of the books basis
as of the close of business on the Distribution Date. 
 (vii) Special Allocation Rules. 

(1) Section 965 Taxes. Any installment payments required to be made pursuant to the election made by a member of the
Parent Group or a member of the SpinCo Group (that was a member of the Parent Group prior to the Distribution Date) under Section 965(h) of the Code, and any adjustments thereto, shall be allocated to Parent. 

(2) Subpart F Income and GILTI. Solely for purposes of allocating under this Section 2 any Income Taxes resulting from any
inclusion in income (an “Inclusion”) of Subpart F or global intangible low-taxed income of a controlled foreign corporation (a “CFC”) under Section 951 or 951A of the
Code, or any similar state, local or foreign law (“Subpart F Income”), the defined term “SpinCo Tax Liability” shall additionally mean (i) all Income Taxes attributable to an Inclusion during the taxable period at
issue of Subpart F Income of a CFC engaged solely in the SpinCo Business, (ii) in the case of an Inclusion during the taxable period at issue of Subpart F Income of a CFC engaged in the SpinCo Business during the taxable period at issue, all
Subpart F Income properly allocable to the SpinCo Business of the CFC to the extent distinguishable with reasonable accuracy, or (iii) to the extent not so distinguishable, the portion of the Inclusion equal to the ratio of revenue of such CFC
attributable to the SpinCo Business over the total revenue of such CFC. 
 (3) Base Erosion and Anti-Abuse Tax. For purposes of
allocating under this Section 2 any Taxes imposed under Section 59A of the Code which are or become payable as a result of “base erosion payments” paid or accrued by any member of the Parent Group or any member of the SpinCo
Group to a foreign Person which is “related” (within the meaning of Section 59A(d) of the Code) to such member of the Parent Group or SpinCo Group, as applicable, which amount shall be calculated for a given taxable year by comparing
(x) the amount of Taxes imposed on the Parent Group under Section 59A of the Code for such taxable year, and (y) the amount of Taxes imposed on the SpinCo Group under Section 59A of the Code for such taxable year, in each case as
determined by Parent. 
 (b) Preparation of Tax Returns. 

(i) Parent (or its designee) shall determine the entities to be included in any Combined Return and make or revoke any Tax elections, adopt or
change any Tax accounting methods, and determine any other position taken on or in respect of any Tax Return required to be prepared and filed by Parent pursuant to Section 2(a)(i) or Section 2(a)(iii). Notwithstanding the immediately
preceding sentence, any Tax Return filed by Parent pursuant to Section 2(a)(i) or Section 2(a)(iii) shall, to the extent relating to SpinCo or the SpinCo Group, be prepared in good faith. For the avoidance of doubt, with respect to the
consolidated U.S. federal Income Tax Return of the Parent Consolidated Group for any taxable year that includes the 

  
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Distribution, Parent shall determine in its sole discretion whether to elect ratable allocation under Treasury Regulation Section 1.1502-76. SpinCo
shall, and shall cause each member of the SpinCo Group to, take all actions necessary to give effect to such election. SpinCo shall, and shall cause each member of the SpinCo Group to, prepare and submit at Parent’s request (but in no event
later than ninety (90) days after such request), at SpinCo’s expense, all information that Parent shall reasonably request, in such form as Parent shall reasonably request, including any such information requested to enable Parent to
prepare any Tax Return required to be filed by Parent pursuant to Section 2(a)(i) or Section 2(a)(iii). Parent shall make any such Tax Return and related workpapers available for review by SpinCo to the extent such Tax Return relates to
Taxes for which SpinCo would reasonably be expected to be liable or with respect to which SpinCo would reasonably be expected to have a claim. If practicable, Parent shall make any such Tax Return available for review sufficiently in advance of the
due date for filing such Tax Return to provide SpinCo an opportunity to analyze and comment on such return. Parent and SpinCo shall attempt in good faith to resolve any issues arising out of the review of any such Tax Return. 

(ii) Except as required by applicable law or as a result of a Final Determination, neither Parent nor SpinCo shall (nor shall cause or permit
any members of the Parent Group or SpinCo Group, respectively, to) take any position that is either inconsistent with the treatment of the Spin-Off Transactions as having
Tax-Free Status (or analogous status under state, local or foreign law) or, with respect to a specific item of income, deduction, gain, loss, or credit on any Tax Return, treat such specific item in a manner
which is inconsistent with the manner such specific item is reported on a Tax Return prepared or filed by Parent pursuant to Section 2(a) hereof (including, without limitation, the claiming of a deduction previously claimed on any such Tax
Return). 
 (c) Section 336(e) Election. Parent and SpinCo agree that one or more protective elections under
Section 336(e) of the Code and the Treasury Regulations promulgated thereunder and under any comparable provisions of state, local or foreign law (each, a “Section 336(e) Election”) may be made with respect to the
Distribution and/or any Subsequent Distribution. SpinCo shall (and shall cause any relevant member of the SpinCo Group to) join with Parent and/or any relevant member of the Parent Group, as applicable, in the making of any such election and shall
take any action reasonably requested by Parent or that is otherwise necessary to give effect to any such election (including making any other related election). If a Section 336(e) Election is made with respect to the Distribution and/or any
Subsequent Distribution, then this Agreement shall be amended in such a manner as is determined by Parent in good faith to take into account such Section 336(e) Election(s). 

3. Indemnity for Taxes. 

(a) Indemnification by Parent. From and after the Distribution Date, except as otherwise provided in Section 3(b), Parent and each
member of the Parent Group shall jointly and severally indemnify, defend and hold harmless SpinCo and each member of the SpinCo Group and each of their respective Representatives and Affiliates (and the heirs, executors, successors and assigns of
any of them) from and against, without duplication, (i) all Spin-Off Tax Liabilities and Tax-Related Losses, (ii) all Tax Liabilities that any member of the Parent Group is responsible for pursuant
to Section 2, and (iii) all Tax 

  
 14 

 
Liabilities incurred by any member of the Parent Group or SpinCo Group by reason of the breach by Parent or any member of the Parent Group of any of Parent’s representations or covenants
hereunder or made in connection with the Private Letter Ruling, the Tax Opinion, or the KPMG Tax Opinion and, in each case, any related costs and expenses (including, without limitation, reasonable attorneys’ fees and expenses); provided,
however, that neither Parent nor any member of the Parent Group shall have any obligation to indemnify, defend or hold harmless any Person pursuant to this Section 3(a) to the extent that such indemnification obligation is otherwise
attributable to any breach by SpinCo or any member of the SpinCo Group of any of SpinCo’s representations or covenants hereunder (including any representations made in connection with the Private Letter Ruling or, Tax Opinion, or the KPMG Tax
Opinion). 
 (b) Indemnification by SpinCo. From and after the Distribution Date, SpinCo and each member of the SpinCo Group shall
jointly and severally indemnify, defend and hold harmless Parent and each member of the Parent Group and each of their respective Representatives and Affiliates (and the heirs, executors, successors and assigns of any of them) from and against,
without duplication, (i) all Tax Liabilities (including, all SpinCo Tax Liabilities), Spin-Off Tax Liabilities and Tax-Related Losses that SpinCo or any member of
the SpinCo Group is responsible for under Section 2 or Section 4 (including, without limitation, any Tax Liabilities, Spin-Off Tax Liabilities or Tax-Related
Losses arising with respect to a Permitted Transaction for which SpinCo is liable pursuant to Section 4(e)(i)) and (ii) all Tax Liabilities, Spin-Off Tax Liabilities and Tax-Related Losses incurred by any member of the Parent Group or SpinCo Group by reason of the breach by SpinCo or any member of the SpinCo Group of any of SpinCo’s representations or covenants hereunder
(including any representations made in connection with the Private Letter Ruling, the Tax Opinion, or the KPMG Tax Opinion (irrespective of whether Parent made the same representation on behalf of, or with respect to SpinCo)) and, in each case, any
related costs and expenses (including, without limitation, reasonable attorneys’ fees and expenses). 
 (c) Timing of
Indemnification. Any payment and indemnification made pursuant to this Section 3 shall be made by the Indemnifying Party promptly, but, in any event, no later than: 

(i) in the case of an indemnification obligation with respect to any Tax Liabilities (including any SpinCo Tax Liabilities and any Spin-Off Tax Liabilities), the later of (A) five (5) Business Days after the Indemnified Party notifies the Indemnifying Party and (B) five (5) Business Days prior to the date the Indemnified Party is
required to make a payment of Taxes, interest, or penalties to the applicable Tax Authority (including a payment with respect to an assessment of a Tax deficiency by any Taxing Jurisdiction or a payment made in settlement of an asserted Tax
deficiency) or realizes a reduced Refund; and 
 (ii) in the case of any payment or indemnification of any Losses not otherwise described in
clause (i) of this Section 3(c) (including, but not limited to, any Losses described in clause (b) or (c) of the definition of Tax-Related Losses, attorneys’ fees and expenses, and other
indemnifiable Losses), the later of (A) five (5) Business Days after the Indemnified Party notifies the Indemnifying Party and (B) five (5) Business Days prior to the date the Indemnified Party makes a payment thereof. 

  
 15 

 4. Distribution Related Matters. 

(a) Representations. 
 (i)
Private Letter Ruling and Tax Opinion Documents. SpinCo hereby represents and warrants that (A) it has examined the Private Letter Ruling Documents and the Tax Opinion Documents (including, without limitation, the representations to the
extent that they relate to the plans, proposals, intentions, and policies of SpinCo, its Subsidiaries, the SpinCo Business, or the SpinCo Group) and (B) to the extent in reference to SpinCo, its Subsidiaries, the SpinCo Business, or the SpinCo
Group, the facts presented and the representations made therein are true, correct and complete. 
 (ii)
Tax-Free Status. SpinCo hereby represents and warrants that it has no plan or intention of taking any action, or failing to take any action or knows of any circumstance, that could reasonably be
expected to (A) cause the Spin-Off Transactions not to have Tax-Free Status or (B) cause any representation or factual statement made in this Agreement, the
Separation Agreement, the Private Letter Ruling Documents, the Tax Opinion Documents or any of the Ancillary Agreements to be untrue. 
 (b)
Covenants. 
 (i) Actions Consistent with Representations and Covenants. Neither Parent nor SpinCo shall take any action or
permit any member of the Parent Group or the SpinCo Group, respectively, to take any action, or shall fail to take any action or permit any member of the Parent Group or the SpinCo Group, respectively, to fail to take any action, where such action
or failure to act would be inconsistent with or cause to be untrue any material information, covenant or representation in this Agreement, the Separation Agreement, the Private Letter Ruling Documents, the Tax Opinion Documents or any of the
Ancillary Agreements. 
 (ii) Preservation of Tax-Free Status; SpinCo Business. SpinCo shall
not (A) take any action (including, but not limited to, any cessation, transfer or disposition of all or any portion of any SpinCo Business, payment of extraordinary dividends and acquisitions or issuances of stock) or permit any member of the
SpinCo Group to take any such action, and SpinCo shall not fail to take any such action or permit any member of the SpinCo Group to fail to take any such action, in each case, unless such action or failure to act could not reasonably be expected to
cause the Spin-Off Transactions to fail to have Tax-Free Status or could not require Parent or SpinCo to reflect a liability or reserve for Taxes with respect to the Spin-Off Transactions in its financial statements, and (B) until the first day after the Restriction Period, engage in any transaction (including, without limitation, any cessation, transfer or disposition of
all or any portion of any SpinCo Business) that could reasonably be expected to result in it or any member of the SpinCo Group ceasing to be a company engaged in any SpinCo Business. 

(iii) Sales, Issuances and Redemptions of Equity Securities. Until the first day after the Restriction Period, none of SpinCo or any
member of the SpinCo Group shall, or shall agree to, sell or otherwise issue to any Person, or redeem or otherwise acquire from any Person, any Equity Securities of SpinCo or any member of the SpinCo Group; provided, however, that
(A) the adoption by SpinCo of a shareholder rights plan shall not constitute a sale 

  
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or issuance of such Equity Securities, (B) SpinCo and the members of the SpinCo Group may repurchase such Equity Securities to the extent that such repurchases meet the requirements of
Section 4.05(1)(b) of Revenue Procedure 96-30, (C) SpinCo may issue such Equity Securities to the extent such issuances satisfy Safe Harbor VIII (relating to acquisitions in connection with a
person’s performance of services) of Treasury Regulation Section 1.355-7(d) or Safe Harbor IX (relating to acquisitions by a retirement plan of an employer) of Treasury Regulation Section 1.355-7(d), and (D) members of the SpinCo Group other than SpinCo may issue or sell Equity Securities to other members of the SpinCo Group, and may redeem or purchase Equity Securities from other
members of the SpinCo group, in each case, to the extent not inconsistent with the Tax-Free Status of the Spin-Off Transactions. 

(iv) Tender Offers; Other Business Combination Transactions. Until the first day after the Restriction Period, none of SpinCo or any
member of the SpinCo Group shall (A) solicit any Person to make a tender offer for, or otherwise acquire or sell, the Equity Securities of SpinCo, (B) participate in or support any unsolicited tender offer for, or other acquisition,
issuance or disposition of, the Equity Securities of SpinCo or (C) approve or otherwise permit any proposed business combination or any transaction which, in the case of clauses (A), (B) or (C), individually or in the aggregate, together with
any transaction occurring within the four-year period beginning on the date which is two years before the Distribution Date and any other transaction which is part of a plan or series of related transactions (within the meaning of
Section 355(e) of the Code) that includes the Distribution, could result in one or more Persons acquiring (except for acquisitions that otherwise satisfy Safe Harbor VIII of Treasury Regulation
Section 1.355-7(d) (relating to acquisitions in connection with a person’s performance of services) or Safe Harbor IX of Treasury Regulation
Section 1.355-7(d) (relating to acquisitions by a retirement plan of an employer)) directly or indirectly stock representing a 10% or greater interest, by vote or value, in SpinCo (or any successor
thereto). In addition, none of SpinCo or any member of the SpinCo Group shall at any time, whether before or subsequent to the expiration of the Restriction Period, engage in any action described in clauses (A), (B), or (C) of the preceding
sentence if it is pursuant to an arrangement negotiated (in whole or in part) prior to the first anniversary of the Distribution, even if at the time of the Distribution or thereafter such action is subject to various conditions. 

(v) Dispositions of Assets. Until the first day after the Restriction Period, none of SpinCo or any member of the SpinCo Group shall
sell, transfer, or otherwise dispose of or agree to sell, transfer or otherwise dispose of assets (including, for such purpose, any shares of capital stock of a Subsidiary and any transaction treated for tax purposes as a sale, transfer or
disposition) that, in the aggregate, constitute more than 30% of the consolidated gross assets of SpinCo or the SpinCo Group. The foregoing sentence shall not apply to (A) sales, transfers, or dispositions of assets in the ordinary course of
business, (B) any cash paid to acquire assets from an unrelated Person in an arm’s-length transaction, (C) any assets transferred to a Person that is disregarded as an entity separate from the
transferor for U.S. federal Income Tax purposes or (D) any mandatory or optional repayment (or pre-payment) of any indebtedness of SpinCo or any member of the SpinCo Group. The percentages of gross assets
or consolidated gross assets of SpinCo or the SpinCo Group, as the case may be, sold, transferred, or otherwise disposed of, shall be based on the fair market value of the gross assets of SpinCo and the members of the SpinCo Group as of the
Distribution Date. For purposes of this Section 4(b)(v), a merger of SpinCo or one of its Subsidiaries with and into any Person shall constitute a disposition of all of the assets of SpinCo or such Subsidiary. 

  
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 (vi) Liquidations, Mergers, Reorganizations. Until the first day after the
Restriction Period, neither SpinCo nor any of its Subsidiaries shall, or shall agree to, voluntarily dissolve or liquidate (including by converting into an entity that is treated as a “disregarded entity” or partnership for U.S. federal
Income Tax purposes) or engage in any transaction involving a merger (except for a Cash Acquisition Merger), consolidation or other reorganization; provided, that, mergers of direct or indirect wholly-owned Subsidiaries of SpinCo solely with
and into SpinCo or with other direct or indirect wholly-owned Subsidiaries of SpinCo, and liquidations of SpinCo’s subsidiaries are not subject to this Section 4(b)(vi) to the extent not inconsistent with the
Tax-Free Status of the Spin-Off Transactions. 
 (vii)
Spinco Securities. Neither SpinCo nor any of its Subsidiaries shall take any action with respect to the SpinCo Securities that might result in their failing to qualify as “securities” of SpinCo, within the meaning of
Section 361 of the Code. 
 (c) Permitted Transactions. 

Notwithstanding the restrictions otherwise imposed by Sections 4(b)(iii) through 4(b)(vi), during the Restriction Period, SpinCo may
(i) issue, sell, redeem or otherwise acquire (or cause a member of the SpinCo Group to issue, sell, redeem or otherwise acquire) Equity Securities of SpinCo or any member of the SpinCo Group in a transaction that would otherwise breach the
covenant set forth in Section 4(b)(iii), (ii) approve, participate in, support or otherwise permit a proposed business combination or transaction that would otherwise breach the covenant set forth in Section 4(b) (iv), (iii) sell or
otherwise dispose of the assets of SpinCo or any member of the SpinCo Group in a transaction that would otherwise breach the covenant set forth in Section 4(b)(v), or (iv) merge SpinCo or any member of the SpinCo Group with another entity
without regard to which party is the surviving entity in a transaction that would otherwise breach the covenant set forth in Section 4(b)(vi), if and only if such transaction would not violate Section 4(b)(i) or Section 4(b)(ii) and
prior to entering into any agreement contemplating a transaction described in clauses (i), (ii), (iii) or (iv), and prior to consummating any such transaction, SpinCo shall request that Parent obtain a private letter ruling (or, if applicable, a
supplemental private letter ruling) from the IRS and/or any other applicable Tax Authority in accordance with Section 4(d)(ii) of this Agreement to the effect that such transaction will not affect the
Tax-Free Status of the Spin-Off Transactions and Parent shall have received such private letter ruling, in form and substance satisfactory to Parent in its sole and
absolute discretion, exercised in good faith; provided, that to the extent (A) such private letter ruling cannot be obtained from the IRS under Rev. Proc. 2021-3,
2021-1 I.R.B. 140 (as amended from time to time) (or from any other applicable Tax Authority under any analogous procedure of such Tax Authority) or (B) Parent determines in its sole and absolute
discretion not to seek to obtain such private letter ruling, in lieu of such private letter ruling (1) SpinCo shall obtain Parent’s written consent (which may be withheld at Parent’s sole discretion) or (2) SpinCo shall provide
Parent with an Unqualified Tax Opinion, in form and substance satisfactory to Parent in its sole and absolute discretion, exercised in good faith (and in determining whether an opinion is satisfactory, Parent may consider, among other factors, the
appropriateness of any underlying assumptions and management’s representations if used as a basis for the opinion). 

  
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 (d) Private Letter Rulings and Restrictions on SpinCo. 

(i) Private Letter Ruling at Parent’s Request. Parent shall have the right to obtain a private letter ruling from the IRS and/or
any other applicable Tax Authority (or, if applicable, a supplemental private letter ruling) in its sole discretion, exercised in good faith. If Parent determines to obtain any such private letter ruling, SpinCo shall (and shall cause each member of
the SpinCo Group to) cooperate with Parent and take any and all actions reasonably requested by Parent in connection with obtaining such private letter ruling (including, without limitation, by making any representation or covenant or providing any
materials or information requested by any Tax Authority; provided, that SpinCo shall not be required to make (or cause any member of the SpinCo Group to make) any representation or covenant that is inconsistent with historical facts or as to
future matters or events over which it has no control). In connection with obtaining a private letter ruling pursuant to this Section 4(d)(i), (A) Parent shall, to the extent practicable, consult with SpinCo reasonably in advance of taking any
material action in connection therewith; (B) Parent shall (1) reasonably in advance of the submission of any documents relating to such private letter ruling, provide SpinCo with a draft copy thereof, (2) reasonably consider
SpinCo’s comments on such draft copy, and (3) provide SpinCo with a final copy; and (C) Parent shall provide SpinCo with notice reasonably in advance of, and SpinCo shall have the right to attend and participate in, any formally
scheduled meetings with any Tax Authority (subject to the approval of the Tax Authority) that relate to such private letter ruling. 
 (ii)
Private Letter Rulings at SpinCo’s Request. Parent agrees that at the reasonable request of SpinCo pursuant to Section 4(c), Parent shall (and shall cause each member of the Parent Group to) cooperate with SpinCo and use its
reasonable best efforts to seek to obtain, as expeditiously as possible, a private letter ruling from the IRS and/or any other applicable Tax Authority (or, if applicable, a supplemental private letter ruling) for the purpose of confirming
compliance on the part of SpinCo or any member of the SpinCo Group with its obligations under Section 4(b) of this Agreement; provided, however, that in no event shall Parent be required to file any request for a private letter ruling
under this Section 4(d)(ii) unless SpinCo represents that (A) it has read the request for such private letter ruling and any materials, appendices and exhibits submitted or filed therewith, and (B) all information and representations,
if any, relating to any member of the SpinCo Group, contained in the related private letter ruling documents are true, correct and complete in all material respects. SpinCo shall reimburse Parent for all reasonable costs and expenses incurred by the
Parent Group in obtaining a private letter ruling requested by SpinCo within ten (10) Business Days after receiving an invoice from Parent therefor. SpinCo hereby agrees that Parent shall have sole and exclusive control over the process of
obtaining any private letter ruling, and that only Parent shall apply for any private letter ruling. In connection with obtaining a private letter ruling pursuant to this Section 4(d)(ii), (A) Parent shall, to the extent practicable, consult
with SpinCo reasonably in advance of taking any material action in connection therewith; (B) Parent shall (1) reasonably in advance of the submission of any related private letter ruling documents, provide SpinCo with a draft copy thereof,
(2) reasonably consider SpinCo’s comments on such draft copy, and (3) provide SpinCo with a final copy; and (C) Parent shall provide SpinCo with notice reasonably in advance of, and SpinCo shall have the right to attend and
participate in, any formally scheduled meetings with any Tax Authority (subject to the approval of the Tax Authority) that relate to such private letter ruling. 

  
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 (iii) Prohibition on SpinCo. SpinCo hereby agrees that, except to the extent
permitted by Section 4(d)(ii), neither it nor any member of the SpinCo Group shall seek any guidance from the IRS or any other Tax Authority (whether written, verbal or otherwise) concerning the Spin-Off
Transactions (or the impact of any transaction on the Spin-Off Transactions). 
 (e) Liability of
SpinCo for Undertaking Certain Actions. Notwithstanding anything in this Agreement to the contrary, SpinCo and each member of the SpinCo Group shall be responsible for any and all Tax-Related Losses that
are attributable to, or result from: 
 (i) any act or failure to act by SpinCo or any member of the SpinCo Group, which action or failure
to act breaches any of the covenants described in Section 4(b)(i) through 4(b)(vi) of this Agreement (determined without regard to the exceptions or provisos set forth in such provisions or in Section 4(c), so that SpinCo and each member
of the SpinCo Group shall be responsible for any and all Tax-Related Losses even if such Tax-Related Losses are attributable to or result from any act or failure to act
pursuant to an exception or proviso described in Section 4(b)(i) through 4(b)(vi) or in Section 4(c)), expressly including, for this purpose, any Permitted Transaction and any act or failure to act that breaches Section 4(b)(i) or
4(b)(ii), regardless of whether such act or failure to act is permitted by Section 4(b)(iii) through 4(b)(vi); 
 (ii) any acquisition
of Equity Securities of SpinCo or any member of the SpinCo Group by any Person or Persons (including, without limitation, as a result of an issuance of SpinCo Equity Securities or a merger of another entity with and into SpinCo or any member of the
SpinCo Group) or any acquisition of assets of SpinCo or any member of the SpinCo Group (including, without limitation, as a result of a merger) by any Person or Persons; and 

(iii) any breach by SpinCo or any member of the SpinCo Group of a representation or covenant made in this Agreement, the Separation Agreement,
the Ancillary Agreements, any Private Letter Ruling Documents, or any Tax Opinion Documents. 
 (f) Cooperation. 

(i) Without limiting the prohibition set forth in Section 4(d)(iii), until the first day after the Restriction Period, SpinCo shall
furnish Parent with a copy of any private letter ruling request that any member of the SpinCo Group may file with the IRS or any other Tax Authority and any opinion received that in any respect relates to, or otherwise reasonably could be expected
to have any effect on, the Tax-Free Status of the Spin-Off Transactions. 

(ii) Parent shall reasonably cooperate with SpinCo in connection with any request by SpinCo for an Unqualified Tax Opinion pursuant to
Section 4(c). 
 (iii) Until the first day after the Restriction Period, SpinCo will provide adequate advance notice to Parent in
accordance with the terms of Section 4(f)(iv) of any action described in Sections 4(b)(i) through 4(b)(vi) within a period of time sufficient to enable Parent to seek injunctive relief pursuant to Section 4(g) in a court of competent
jurisdiction. 

  
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 (iv) Each notice required by Section 4(f)(iii) shall set forth the terms and
conditions of any such proposed transaction, including, without limitation, (A) the nature of any related action proposed to be taken by the board of directors of SpinCo, (B) the approximate number of Equity Securities (and their voting
and economic rights) of SpinCo or any member of the SpinCo Group (if any) proposed to be sold or otherwise issued, (C) the approximate value of SpinCo’s assets (or assets of any member of the SpinCo Group) proposed to be transferred, and
(D) the proposed timetable for such transaction, all with sufficient particularity to enable Parent to seek such injunctive relief. Promptly, but in any event within thirty (30) days, after Parent receives such written notice from SpinCo,
Parent shall notify SpinCo in writing of Parent’s decision to seek injunctive relief pursuant to Section 4(g). 
 (v) From and
after the Distribution Date until the first day after the Restriction Period, neither SpinCo nor any member of the SpinCo Group shall take (or refrain from taking) any action to the extent that such action or inaction would have caused a
representation given by or with respect to SpinCo in connection with the Private Letter Ruling, the Tax Opinion, and/or the KPMG Tax Opinion to have been untrue as of the relevant representation date, had SpinCo or any member of the SpinCo Group
intended to take (or refrain from taking) such action on the relevant representation date. 
 (g) Enforcement. The parties hereto
acknowledge that irreparable harm would occur in the event that any of the provisions of this Section 4 were not performed in accordance with their specific terms or were otherwise breached. The parties hereto agree that, in order to preserve
the Tax-Free Status of the Spin-Off Transactions, injunctive relief is appropriate to prevent any violation of the foregoing covenants; provided, however, that
injunctive relief shall not be the exclusive legal or equitable remedy for any such violation. 
 5. Refunds. Parent shall be entitled
to all Refunds in respect of Taxes paid with respect to any Tax Return for which Parent or any member of the Parent Group is responsible pursuant to Section 2, except to the extent such Refunds are solely attributable to SpinCo Tax Benefits.
SpinCo shall be entitled to all Refunds in respect of Taxes paid with respect to any Tax Return for which SpinCo or any member of the SpinCo Group is responsible pursuant to Section 2 or which are solely attributable to SpinCo Tax Benefits.
Notwithstanding the foregoing, in the event a party obtains a Refund of Taxes for which it was indemnified by another party, the indemnifying party shall be entitled to such Refund. For the absence of doubt, a party entitled to a Refund pursuant to
this Section 5 shall also be entitled to (and the party receiving such Refund shall pay over to such other party) any interest thereon received from the applicable Tax Authority, or, in the case of any Combined Return, the amount of any
interest thereon that would have been received from such Tax Authority had such Refund related to a hypothetical Tax Return that did not include the other party or any member of such other party’s group but with all other facts unchanged. A
party receiving a Refund to which another party is entitled pursuant to this Section 5 shall pay the amount to which such other party is entitled (including interest in accordance with the preceding sentence) within fifteen (15) Business
Days after such Refund is Actually Realized. Each of Parent and SpinCo shall cooperate with the other party in connection with any claim for Refund in respect of any Tax for which any member of the Parent Group or the SpinCo Group, as the case may
be, is responsible pursuant to Section 2. 

  
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 6. Tax Contests. 

(a) Notification. Each of Parent and SpinCo shall notify the other party in writing of any communication with respect to any pending or
threatened Proceeding in connection with any Tax Liability (or any issue related thereto) of Parent or any member of the Parent Group, or SpinCo or any member of the SpinCo Group, respectively, for which a member of the SpinCo Group or the Parent
Group, respectively, may be responsible pursuant to this Agreement within ten (10) Business Days of receipt; provided, however, that in the case of any Distribution-Related Proceeding (whether or not SpinCo or Parent may be responsible
thereunder), such notice shall be provided no later than ten (10) Business Days after Parent or SpinCo, as the case may be, first receives written notice from the IRS or other Tax Authority of such Distribution-Related Proceeding. Each of
Parent and SpinCo shall include with such notification a true, correct and complete copy of any written communication, and an accurate and complete written summary of any oral communication, received by Parent or a member of the Parent Group, or
SpinCo or a member of the SpinCo Group, respectively. The failure of Parent or SpinCo timely to forward such notification in accordance with the immediately preceding sentence shall not relieve SpinCo or Parent, respectively, of any obligation to
pay such Tax Liability or indemnify Parent and the members of the Parent Group, or SpinCo and the members of the SpinCo Group, respectively, and their respective Representatives, Affiliates, successors and assigns therefor, except to the extent that
the failure timely to forward such notification actually prejudices the ability of SpinCo or Parent to contest such Tax Liability or increases the amount of such Tax Liability. 

(b) Representation with Respect to Tax Disputes. Parent (or such member of the Parent Group as Parent shall designate) shall have the
sole right to represent the interests of the members of the Parent Group and the members of the SpinCo Group and to employ counsel of its choice at its expense in any Proceeding (including any Distribution-Related Proceeding) relating to
(i) any consolidated U.S. federal Income Tax Returns of the Parent Consolidated Group, (ii) any other Combined Returns and (iii) any Parent Separate Returns. SpinCo (or such member of the SpinCo Group as SpinCo shall designate) shall
have the sole right to represent the interests of the members of the SpinCo Group and to employ counsel of its choice at its expense in any Proceeding relating to SpinCo Separate Returns. 

(c) Power of Attorney. Each member of the SpinCo Group shall execute and deliver to Parent (or such member of the Parent Group as Parent
shall designate) any power of attorney or other document requested by Parent (or such designee) in connection with any Proceeding described in the first sentence of Section 6(b). 

(d) Distribution-Related Proceedings, Proceedings with Respect to SpinCo Tax Liabilities. 

(i) In the event of any Distribution-Related Proceeding or Proceeding relating to a SpinCo Tax Liability as a result of which SpinCo could
reasonably be expected to become liable for Tax or any Tax-Related Losses and with respect to which Parent has the right to represent the interests of the members of the Parent Group and/or the members of the
SpinCo Group pursuant to Section 6(b) above, (A) Parent shall consult with SpinCo reasonably in advance of taking any significant action in connection with such Proceeding, (B) Parent shall consult with SpinCo and offer SpinCo a
reasonable opportunity to comment before submitting any written materials prepared or furnished in connection with such Proceeding, (C) Parent shall 

  
 22 

 
defend such Proceeding diligently and in good faith as if it were the only party in interest in connection with such Proceeding, and (D) Parent shall provide SpinCo copies of any written
materials relating to such Proceeding received from the relevant Tax Authority. Notwithstanding anything in the preceding sentence to the contrary, the final determination of the positions taken, including with respect to settlement or other
disposition, in (i) any Distribution-Related Proceeding, or (ii) any other Proceeding relating to a SpinCo Tax Liability, which other Proceeding would not reasonably be expected to result in a liability for additional Taxes in an amount
exceeding five (5) million dollars for a single Tax year, shall be made in the sole discretion of Parent and shall be final and not subject to the dispute resolution provisions of Section 9 (and Article VII of the Separation Agreement).
With respect to any Proceeding relating to a SpinCo Tax Liability (other than any Distribution-Related Proceeding), which could reasonably be expected to result in a liability for additional Taxes in an amount exceeding five (5) million dollars
for a single Tax year, SpinCo shall be entitled to participate in such Proceeding, and Parent shall not settle, compromise or abandon any such Proceeding without obtaining the prior written consent of SpinCo, which consent shall not be unreasonably
withheld. 
 (ii) In the event of any Distribution-Related Proceeding with respect to any SpinCo Separate Return, (A) SpinCo shall
consult with Parent reasonably in advance of taking any significant action in connection with such Proceeding, (B) SpinCo shall consult with Parent and offer Parent a reasonable opportunity to comment before submitting any written materials
prepared or furnished in connection with such Proceeding, (C) SpinCo shall defend such Proceeding diligently and in good faith as if it were the only party in interest in connection with such Proceeding, (D) Parent shall be entitled to
participate in such Proceeding and receive copies of any written materials relating to such Proceeding received from the relevant Tax Authority, and (E) SpinCo shall not settle, compromise or abandon any such Proceeding without obtaining the
prior written consent of Parent, which consent shall not be unreasonably withheld. 
 7. Apportionment of Tax Attributes; Carrybacks.

 (a) Apportionment of Tax Attributes. 

(i) If the Parent Consolidated Group has a Tax Attribute, the portion, if any, of such Tax Attribute apportioned to SpinCo or any member of
the SpinCo Consolidated Group and treated as a carryover to the first Post-Distribution Taxable Period of SpinCo (or such member) shall be determined by Parent in accordance with Treasury Regulation Sections
1.1502-21, 1.1502-21T, 1.1502-22, 1.1502-79 and, if applicable, 1.1502-79A. 
 (ii) No Tax Attribute with respect to consolidated U.S. federal Income Tax of the Parent
Consolidated Group, other than those described in Section 7(a)(i), and no Tax Attribute with respect to consolidated, combined or unitary state, local, or foreign Income Tax, in each case, arising in respect of a Combined Return shall be
apportioned to SpinCo or any member of the SpinCo Group, except as Parent (or such member of the Parent Group as Parent shall designate) determines is otherwise required under applicable law. 

  
 23 

 (iii) Parent (or its designee) shall determine the portion, if any, of any Tax Attribute
which must (absent a Final Determination to the contrary) be apportioned to SpinCo or any member of the SpinCo Group in accordance with this Section 7(a) and applicable law, and the amount of tax basis and earnings and profits to be apportioned
to SpinCo or any member of the SpinCo Group in accordance with applicable law, and shall provide written notice of the calculation thereof to SpinCo as soon as practicable after the information necessary to make such calculation becomes available to
Parent. 
 (iv) The written notice delivered by Parent pursuant to Section 7(a)(iii) shall be binding on all members of the SpinCo
Group and shall not be subject to dispute resolution. Except as otherwise required by applicable law or pursuant to a Final Determination, SpinCo shall not take any position (whether on a Tax Return or otherwise) that is inconsistent with the
information contained in the written notice delivered by Parent pursuant to Section 7(a)(iii). 
 (b) Carrybacks. Except to the
extent otherwise consented to by Parent or prohibited by applicable law, SpinCo shall elect to relinquish, waive or otherwise forgo all Carrybacks. In the event that SpinCo (or the appropriate member of the SpinCo Group) is prohibited by applicable
law to relinquish, waive or otherwise forgo a Carryback (or Parent consents to a Carryback), (i) Parent shall cooperate with SpinCo, at SpinCo’s expense, in seeking from the appropriate Tax Authority such Refund as reasonably would result from
such Carryback, and (ii) SpinCo shall be entitled to any Income Tax Benefit Actually Realized by a member of the Parent Group (including any interest thereon received from such Tax Authority), to the extent that such Refund is directly
attributable to such Carryback, within fifteen (15) Business Days after such Refund is Actually Realized; provided, however, that SpinCo shall indemnify and hold the members of the Parent Group harmless from and against any and all
collateral Tax consequences resulting from or caused by any such Carryback, including (but not limited to) the loss or postponement of any benefit from the use of Tax attributes generated by a member of the Parent Group or an Affiliate thereof if
(x) such Tax attributes expire unutilized, but would have been utilized but for such Carryback, or (y) the use of such Tax attributes is postponed to a later taxable period than the taxable period in which such Tax attributes would have
been utilized but for such Carryback. If there is a Final Determination that results in any change to or adjustment of an Income Tax Benefit Actually Realized by a member of the Parent Group that is directly attributable to a Carryback, then Parent
(or its designee) shall make a payment to SpinCo, or SpinCo shall make a payment to Parent (or its designee), as may be necessary to adjust the payments between SpinCo and Parent (or its designee) to reflect the payments that would have been made
under this Section 7(b) had the adjusted amount of such Income Tax Benefit been taken into account in computing the payments due under this Section 7 (b). 

8. Cooperation and Exchange of Information. 

(a) Cooperation and Exchange of Information. Each of Parent and SpinCo, on behalf of itself and each member of the Parent Group and the
SpinCo Group, respectively, agrees to provide the other party (or its designee) with such cooperation or information as such other party (or its designee) reasonably shall request in connection with the determination of any payment or any
calculations described in this Agreement, the preparation or filing of any Tax Return or claim for Refund, or the conduct of any Proceeding. Such cooperation and information shall include, without limitation, upon reasonable notice (i) promptly
forwarding copies of appropriate notices and forms or other communications (including, without limitation, 

  
 24 

 
information document requests, revenue agent’s reports and similar reports, notices of proposed adjustments and notices of deficiency) received from or sent to any Tax Authority or any other
administrative, judicial or governmental authority, (ii) providing copies of all relevant Tax Returns, together with accompanying schedules and related workpapers, documents relating to rulings or other determinations by any Tax Authority, and
such other records concerning the ownership and tax basis of property, or other relevant information, (iii) the provision of such additional information and explanations of documents and information provided under this Agreement (including
statements, certificates, forms, returns and schedules delivered by either party) as shall be reasonably requested by Parent (or its designee) or SpinCo (or its designee), as the case may be, (iv) the execution of any document that may be
necessary or reasonably helpful in connection with the filing of any Tax Return, a claim for a Refund, or in connection with any Proceeding, including such waivers, consents or powers of attorney as may be necessary for Parent or SpinCo, as the case
may be, to exercise its rights under this Agreement, and (v) the use of Parent’s or SpinCo’s, as the case may be, reasonable efforts to obtain any documentation from a governmental authority or a third party that may be necessary or
reasonably helpful in connection with any of the foregoing. It is expressly the intention of the parties to this Agreement to take all actions that shall be necessary to establish Parent as the sole agent for Tax purposes of each member of the
SpinCo Group with respect to all Combined Returns. Upon reasonable notice, each of Parent and SpinCo shall make its, or shall cause the members of the Parent Group or the SpinCo Group, as applicable, to make their, employees and facilities available
on a mutually convenient basis to provide explanation of any documents or information provided hereunder. Any information obtained under this Section 8 shall be kept confidential, except as otherwise reasonably may be necessary in connection
with the filing of Tax Returns or claims for Refund or in conducting any Proceeding. 
 (b) Retention of Records. Each of Parent and
SpinCo agrees to retain all Tax Returns, related schedules and workpapers, and all material records and other documents as required under Section 6001 of the Code and the Treasury Regulations promulgated thereunder (and any similar provision of
state, local, or foreign law) existing on the date hereof or created in respect of (i) any taxable period that ends on or before or includes the Distribution Date or (ii) any taxable period that may be subject to a claim hereunder until
the later of (A) the expiration of the statute of limitations (including extensions) for the taxable periods to which such Tax Returns and other documents relate and (B) the Final Determination of any payments that may be required in
respect of such taxable periods under this Agreement. From and after the end of the period described in the preceding sentence of this Section 8(b), if a member of the Parent Group or the SpinCo Group wishes to dispose of any such records and
documents, then Parent or SpinCo, as the case may be, shall provide written notice thereof to the other party and shall provide the other party the opportunity to take possession of any such records and documents within ninety (90) days after
such notice is delivered; provided, however, that if such other party does not, within such 90-day period, confirm its intention to take possession of such records and documents, Parent or SpinCo, as
the case may be, may destroy or otherwise dispose of such records and documents. Any notice of an intent to dispose given pursuant to this Section 8(b) shall include a list of the Tax Returns to be disposed of describing in reasonable detail
each file, book, or other record accumulation being disposed. The notified Party shall have the opportunity, at its cost and expense, to copy or remove, within such 90-day period, all or any part of such Tax
Return. 

  
 25 

 (c) Remedies. Each of Parent and SpinCo hereby acknowledges and agrees that
(i) the failure of any member of the Parent Group or the SpinCo Group, as the case may be, to comply with the provisions of this Section 8 may result in substantial harm to the Parent Group or the SpinCo Group, as the case may be,
including the inability to determine or appropriately substantiate a Tax Liability (or a position in respect thereof) for which the Parent Group (or a member thereof) or the SpinCo Group (or a member thereof), as applicable, would be responsible
under this Agreement or appropriately defend against an adjustment thereto by a Tax Authority, (ii) the remedies available to the Parent Group for the breach by a member of the SpinCo Group of its obligations under this Section 8 shall
include (without limitation) the indemnification by SpinCo of the Parent Group for any Tax Liabilities incurred or any Tax Benefit lost or postponed by reason of such breach and the forfeiture by the SpinCo Group of any related rights to
indemnification by Parent and (iii) the remedies available to the SpinCo Group for the breach by a member of the Parent Group of its obligations under this Section 8 shall include (without limitation) the indemnification by Parent of the
SpinCo Group for any Tax Liabilities incurred or any Tax Benefit lost or postponed by reason of such breach and the forfeiture by the Parent Group of any related rights to indemnification by SpinCo. 

(d) Reliance by Parent. If any member of the SpinCo Group supplies information to a member of the Parent Group in connection with a Tax
Liability and an officer of a member of the Parent Group signs a statement or other document under penalties of perjury in reliance upon the accuracy of such information, then upon the written request of such member of the Parent Group identifying
the information being so relied upon, the chief financial officer of SpinCo (or his or her designee) shall certify in writing that to his knowledge (based upon consultation with appropriate employees) the information so supplied is accurate and
complete. SpinCo agrees to indemnify and hold harmless each member of the Parent Group and its directors, officers and employees from and against any fine, penalty, or other cost or expense of any kind attributable to a member of the SpinCo Group
having supplied, pursuant to this Section 8, a member of the Parent Group with inaccurate or incomplete information in connection with a Tax Liability. 

(e) Reliance by SpinCo. If any member of the Parent Group supplies information to a member of the SpinCo Group in connection with a Tax
Liability and an officer of a member of the SpinCo Group signs a statement or other document under penalties of perjury in reliance upon the accuracy of such information, then upon the written request of such member of the SpinCo Group identifying
the information being so relied upon, the chief financial officer of Parent (or his or her designee) shall certify in writing that to his knowledge (based upon consultation with appropriate employees) the information so supplied is accurate and
complete. Parent agrees to indemnify and hold harmless each member of the SpinCo Group and its directors, officers and employees from and against any fine, penalty, or other cost or expense of any kind attributable to a member of the Parent Group
having supplied, pursuant to this Section 8, a member of the SpinCo Group with inaccurate or incomplete information in connection with a Tax Liability. 

9. Resolution of Disputes. The provisions of Article VII of the Separation Agreement (Dispute Resolution) shall apply to any dispute
arising in connection with this Agreement; provided, however, that in the case of disputes arising under this Agreement, Parent and SpinCo shall jointly select the arbitrator, who shall be an attorney or accountant who is generally recognized
in the tax community as a qualified and competent tax practitioner with experience in the tax area involved in the issue or issues to be resolved. 

  
 26 

 10. Payments. 

(a) Method of Payment. All payments required by this Agreement shall be made by (i) wire transfer to the appropriate bank account
as may from time to time be designated by the parties for such purpose; provided, that on the date of such wire transfer, notice of the transfer is given to the recipient thereof in accordance with Section 11, or (ii) any other
method agreed to by the parties. All payments due under this Agreement shall be deemed to be paid when available funds are actually received by the payee. 

(b) Interest. Any payment required by this Agreement that is not made on or before the date required hereunder shall bear interest, from
and after such date through the date of payment, at the Underpayment Rate. 
 (c) Characterization of Payments. For all Income Tax
purposes, the parties hereto agree to treat, and to cause their respective Affiliates to treat, (i) any payment required by this Agreement or by the Separation Agreement, as either a contribution by Parent to SpinCo or a distribution by SpinCo
to Parent, as the case may be, occurring immediately prior to the Distribution and (ii) any payment of interest or non-federal Income Taxes by or to a Tax Authority, as taxable or deductible, as the case
may be, to the party entitled under this Agreement to retain such payment or required under this Agreement to make such payment, in either case, except as otherwise mandated by applicable law or a Final Determination; provided, that in the
event it is determined (A) pursuant to applicable law that it is more likely than not, or (B) pursuant to a Final Determination, that any such treatment is not permissible (or that an Indemnified Party nevertheless suffers an Tax detriment
as a result of such payment), the payment in question shall be adjusted to place the Indemnified Party in the same after-Tax position it would have enjoyed absent such applicable law or Final Determination.

 11. Compensatory Equity Interests Treatment. 

(a) Deductions(b) . To the extent permitted by law, (i) Parent (or the appropriate member of the Parent Group) shall claim all
Income Tax deductions arising by reason of (x) exercises of Parent Option Awards held by any Parent Group Employee or Former Employee or SpinCo Group Employee to acquire Parent Shares, (y) payments made with respect to Parent RSU Awards or
(z) payments made with respect to Parent Restricted Stock Awards and (ii) SpinCo (or the appropriate member of the SpinCo Group) shall claim all Income Tax deductions arising by reason of (x) exercises of SpinCo Option Awards held by
any SpinCo Group Employee to acquire SpinCo Shares, (y) payments made with respect to SpinCo RSU Awards or (z) payments made with respect to SpinCo Restricted Stock Awards. 

(b) Withholding. Upon the vesting, payment or settlement, as applicable, of SpinCo Awards, SpinCo shall be solely responsible for
ensuring the satisfaction of all applicable Tax withholding requirements with respect to the SpinCo Awards. Upon the vesting, payment or settlement, as applicable, of Post-Separation Parent Awards, Parent shall be solely responsible for ensuring the
satisfaction of all applicable Tax withholding requirements with respect to the Post-Separation Parent Awards. 

  
 27 

 12. Notices. Notices, requests, permissions, waivers, and other communications
hereunder shall be in writing and shall be deemed to have been duly given upon (a) a transmitter’s confirmation of a receipt of a facsimile transmission (but only if followed by confirmed delivery of a standard overnight courier the
following Business Day or if delivered by hand the following Business Day), or (b) confirmed delivery of a standard overnight courier or delivered by hand, to the parties at the following addresses (or at such other addresses for a party as
shall be specified by like notice): 
  

			
	 If to Parent, to:
	  	Ziff Davis, Inc.
		  	700 South Flower Street, Suite 1500
		  	Los Angeles, California 90017
		  	Attention:       Legal Department
		  	Email:             legal@j2.com
		
	 If to SpinCo to:
	  	Consensus Cloud Solutions, Inc.
		  	700 South Flower Street, Suite 1500
		  	Los Angeles, California 90017
		  	Attention:       Legal Department
		  	E-mail:           Vithya.aubee@j2.com

 Such names and addresses may be changed by notice given in accordance with this Section 12. 

13. Designation of Affiliate. Each of Parent and SpinCo may assign any of its rights or obligations under this Agreement to any member
of the Parent Group or the SpinCo Group, respectively, as it shall designate; provided, however, that no such assignment shall relieve Parent or SpinCo, respectively, of any obligation hereunder, including any obligation to make a payment
hereunder to SpinCo or Parent, respectively, to the extent such designee fails to make such payment. 
 14. Miscellaneous. Except to
the extent otherwise provided in this Agreement, this Agreement shall be subject to the provisions of Article XIV (Miscellaneous) of the Separation Agreement to the extent set forth therein. 

  
 28 

 IN WITNESS WHEREOF, each of the parties has caused this Agreement to be executed on its
behalf by its officers thereunto duly authorized, all as of the day and year first written above. 
  

			
	ZIFF DAVIS, INC.
		
	By:	 	 /s/ Jeremy Rossen

	Name:	 	Jeremy Rossen
	Title:	 	Executive Vice President, Secretary and General Counsel
	
	CONSENSUS CLOUD SOLUTIONS, INC.
		
	By:	 	 /s/ Vithya Aubee

	Name:	 	Vithya Aubee
	Title:	 	Vice President

  
 29EX-10.3

 Exhibit 10.3 

EMPLOYEE MATTERS AGREEMENT 

BY AND BETWEEN 
 ZIFF
DAVIS, INC. 
 AND 

CONSENSUS CLOUD SOLUTIONS, INC. 

DATED AS OF OCTOBER 7, 2021 
  

 TABLE OF CONTENTS 

 

							
	 	  	Page	 
	 ARTICLE I DEFINITIONS
	  	 	2	 
			
	 Section 1.01.
	 	Definitions	  	 	2	 
	 Section 1.02.
	 	Interpretation	  	 	9	 
		
	 ARTICLE II GENERAL PRINCIPLES FOR ALLOCATION OF LIABILITIES
	  	 	9	 
			
	 Section 2.01.
	 	General Principles	  	 	9	 
	 Section 2.02.
	 	Adoption and Transfer and Assumption of Benefit Plans	  	 	10	 
	 Section 2.03.
	 	Individual Agreements	  	 	12	 
	 Section 2.04.
	 	Reimbursement	  	 	12	 
	 Section 2.05.
	 	Non-U.S. Issues	  	 	13	 
		
	 ARTICLE III ASSIGNMENT OF EMPLOYEES
	  	 	13	 
			
	 Section 3.01.
	 	Active Employees	  	 	13	 
	 Section 3.02.
	 	Payroll and Related Taxes	  	 	14	 
		
	 ARTICLE IV EQUITY, INCENTIVE AND EXECUTIVE COMPENSATION
	  	 	15	 
			
	 Section 4.01.
	 	Generally	  	 	15	 
	 Section 4.02.
	 	Equity Incentive Awards	  	 	15	 
	 Section 4.03.
	 	Employee Stock Purchase Plan.	  	 	19	 
	 Section 4.04.
	 	Nonequity Incentive Practices and Plans	  	 	20	 
	 Section 4.05.
	 	Director Compensation	  	 	21	 
		
	 ARTICLE V QUALIFIED RETIREMENT PLAN
	  	 	21	 
			
	 Section 5.01.
	 	SpinCo 401(k) Plan	  	 	21	 
		
	 ARTICLE VI WELFARE BENEFIT PLANS
	  	 	22	 
			
	 Section 6.01.
	 	Welfare Plans	  	 	22	 
	 Section 6.02.
	 	COBRA	  	 	24	 
	 Section 6.03.
	 	Vacation, Holidays and Leaves of Absence	  	 	24	 
	 Section 6.04.
	 	Workers’ Compensation	  	 	24	 
	 Section 6.05.
	 	Insurance Contracts	  	 	24	 
	 Section 6.06.
	 	Third-Party Vendors	  	 	25	 
		
	 ARTICLE VII MISCELLANEOUS
	  	 	25	 
			
	 Section 7.01.
	 	Preservation of Rights to Amend	  	 	25	 
	 Section 7.02.
	 	Fiduciary Matters	  	 	25	 
	 Section 7.03.
	 	Further Assurances.	  	 	25	 
	 Section 7.04.
	 	Counterparts; Entire Agreement; Corporate Power	  	 	25	 
	 Section 7.05.
	 	Governing Law	  	 	26	 
	 Section 7.06.
	 	Assignability	  	 	26	 
	 Section 7.07.
	 	Third-Party Beneficiaries	  	 	27	 
	 Section 7.08.
	 	Notices	  	 	27	 
	 Section 7.09.
	 	Severability	  	 	28	 
	 Section 7.10.
	 	Force Majeure	  	 	28	 

  
 i 

							
	 Section 7.11.
	 	Headings	  	 	28	 
	 Section 7.12.
	 	Survival of Covenants	  	 	28	 
	 Section 7.13.
	 	Waivers of Default	  	 	28	 
	 Section 7.14.
	 	Dispute Resolution	  	 	28	 
	 Section 7.15.
	 	Specific Performance	  	 	28	 
	 Section 7.16.
	 	Amendments	  	 	29	 
	 Section 7.17.
	 	Interpretation	  	 	29	 
	 Section 7.18.
	 	Limitations of Liability	  	 	29	 
	 Section 7.19.
	 	Mutual Drafting	  	 	29	 

  

			
	 Scheduled 2.02(a)
	 	Benefit Plans to be Replicated by SpinCo Group
	 Schedule 7.01(a)
	 	Parent Welfare Plans

  

  
 ii 

 EMPLOYEE MATTERS AGREEMENT 

This EMPLOYEE MATTERS AGREEMENT, dated as of October 7, 2021 (this “Agreement”), is by and between Ziff Davis, Inc., a
Delaware corporation (“Parent”), and Consensus Cloud Solutions, Inc., a Delaware corporation (“SpinCo”). 

R E C I T A L S: 
 WHEREAS, the
board of directors of Parent (the “Parent Board”) has determined that it is in the best interests of Parent and its shareholders to create a new publicly traded company that shall operate the SpinCo Business; 

WHEREAS, in furtherance of the foregoing, the Parent Board has determined that it is appropriate and desirable to separate the SpinCo Business
from the Parent Business in the manner set forth in the Global Transaction Structure (the “Separation”) and, in connection with the Separation, make a distribution, on a pro rata basis, to holders of Parent Shares on the Record Date
of at least eighty and one-tenth percent (80.1%) of the outstanding SpinCo Shares owned by Parent (the “Distribution”); 

WHEREAS, SpinCo has been incorporated solely for these purposes and has not engaged in activities, except in connection with the Separation
and the Distribution; 
 WHEREAS, in order to effectuate the Separation and Distribution, Parent and SpinCo have entered into a Separation
and Distribution Agreement, dated as of the date hereof (the “Separation and Distribution Agreement”); 
 WHEREAS, pursuant
to the terms of the Separation and Distribution Agreement, Parent will contribute all of the SpinCo Assets and all of the equity of J2 Cloud Services, LLC to SpinCo in exchange for SpinCo’s assumption of the SpinCo Liabilities, all of the
SpinCo Shares, the SpinCo Cash Amount and the SpinCo Securities (the “Contribution”); 
 WHEREAS, following the
Distribution, Parent may retain up to 19.9% of the outstanding SpinCo Shares (the “Retained Shares”) and intends to, within 12 months of the Distribution, distribute Retained Shares to Parent stockholders as dividends or in exchange
for outstanding shares of Parent common stock (any such distribution, a “Subsequent Distribution”) or transfer such Retained Shares to Parent creditors in satisfaction of certain Parent debt (any such transfer, a “Debt-for-Equity Exchange”); 
 WHEREAS, following the
Distribution, Parent shall transfer the SpinCo Securities to certain Persons (the “Debt-for-Debt Exchange Parties”) in exchange for certain debt
obligations of Parent held by the Debt-for-Debt Exchange Parties as principals for their own account (the “Debt-for-Debt Exchange”); 
 WHEREAS, for U.S. federal income tax purposes, the
Contribution, the Distribution, any Subsequent Distribution, the Debt-for-Debt Exchange, and any
Debt-for-Equity Exchange, taken together, are intended to qualify as a transaction that is generally tax-free for U.S. federal
income tax purposes under Sections 355, 368(a)(1)(D) and 361(c) of the Code, and this Agreement is intended to be, and is hereby adopted as, a “plan of reorganization” within the meaning of Treasury Regulations Section 1.368-2(g); 

  
 1 

 WHEREAS, SpinCo and Parent have prepared, and SpinCo has filed with the SEC, the Form 10,
which includes the Information Statement, and which sets forth disclosures concerning SpinCo, the Separation and the Distribution; 

WHEREAS, in addition to the matters addressed by the Separation and Distribution Agreement, the Parties desire to enter into this Agreement to
set forth the terms and conditions of certain employment, compensation and benefit matters; and 
 WHEREAS, the Parties acknowledge that
this Agreement, the Separation and Distribution Agreement and the other Ancillary Agreements represent the integrated agreement of Parent and SpinCo relating to the Separation and Distribution, are being entered into together and would not have been
entered into independently. 
 NOW, THEREFORE, in consideration of the mutual agreements, provisions and covenants contained in this
Agreement, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties, intending to be legally bound, hereby agree as follows: 

ARTICLE I 
 DEFINITIONS

 Section 1.01. Definitions. For purposes of this Agreement (including the recitals hereof), the following terms have the
following meanings, and capitalized terms used but not otherwise defined herein shall have the meaning ascribed to them in the Separation and Distribution Agreement. 

“Actions” shall have the meaning set forth in the Separation and Distribution Agreement. 

“Affiliate” shall have the meaning set forth in the Separation and Distribution Agreement. 

“Agreement” shall have the meaning set forth in the Preamble to this Agreement and shall include all Schedules hereto and all
amendments, modifications, and changes hereto entered into pursuant to Section 7.16. 
 “Assets”
shall have the meaning set forth in the Separation and Distribution Agreement. 
 “Benefit Plan” shall mean any contract,
agreement, policy, practice, program, plan, trust, commitment or arrangement providing for benefits, perquisites or compensation of any nature from an employer to any Employee, or to any family member, dependent, or beneficiary of any such Employee,
including cash or deferred arrangement plans, profit sharing plans, post-employment programs, pension plans, thrift plans, supplemental pension plans, welfare plans, stock option, stock purchase, stock appreciation rights, restricted stock,
restricted stock units, performance stock units, other equity-based compensation and contracts, agreements, policies, practices, programs, plans, trusts, commitments and arrangements providing for terms of

  
 2 

 
employment, fringe benefits, severance benefits, change in control protections or benefits, travel and accident, life, accidental death and dismemberment, disability and accident insurance,
tuition reimbursement, adoption assistance, travel reimbursement, vacation, sick, personal or bereavement days, leaves of absences and holidays; provided, however, that the term “Benefit Plan” does not include any
government-sponsored benefits, such as workers’ compensation, unemployment or any similar plans, programs or policies or Individual Agreements. 

“COBRA” shall mean the U.S. Consolidated Omnibus Budget Reconciliation Act of 1985, as codified at Section 601 et
seq. of ERISA and at Section 4980B of the Code. 
 “Code” shall have the meaning set forth in the Separation and
Distribution Agreement. 
 “Contribution” shall have the meaning set forth in the Recitals. 

“Debt-for-Debt Exchange” shall have the
meaning set forth in the Recitals. 
 “Debt-for-Debt
Exchange Parties” shall have the meaning set forth in the Recitals. 
 “Debt-for-Equity Exchange” shall have the meaning set forth in the Recitals. 

“Distribution” shall have the meaning set forth in the Recitals. 

“Distribution Date” shall have the meaning set forth in the Separation and Distribution Agreement. 

“Distribution Ratio” shall have the meaning set forth in the Separation and Distribution Agreement. 

“Effective Time” shall have the meaning set forth in the Separation and Distribution Agreement. 

“Employee” shall mean any Parent Group Employee or SpinCo Group Employee. 

“ERISA” shall mean the U.S. Employee Retirement Income Security Act of 1974, as amended, and the regulations promulgated
thereunder. 
 “Exchange Act” shall mean the U.S. Securities Exchange Act of 1934, as amended, together with the rules and
regulations promulgated thereunder. 
 “FICA” shall have the meaning set forth in Section 3.02.

 “Force Majeure” shall have the meaning set forth in the Separation and Distribution Agreement. 

“Former Employees” shall mean Former Parent Group Employees and Former SpinCo Group Employees. 

  
 3 

 “Former Parent Group Employee” shall mean any individual who is a former
employee of the Parent Group as of the Effective Time and who is not a Former SpinCo Group Employee. 
 “Former SpinCo Group
Employee” shall mean any individual who is a former employee of Parent or any of its Subsidiaries or former Subsidiaries as of the Effective Time, in each case, whose most recent employment with Parent was with a member of the SpinCo Group
or was primarily engaged in the SpinCo Business. 
 “FUTA” shall have the meaning set forth in
Section 3.02. 
 “Global Transaction Structure” shall have the meaning set forth in the
Separation and Distribution Agreement. 
 “Governmental Authority” shall have the meaning set forth in the Separation and
Distribution Agreement. 
 “Group” shall mean either the SpinCo Group or the Parent Group, as the context requires. 

“HIPAA” shall mean the U.S. Health Insurance Portability and Accountability Act of 1996, as amended, and the regulations
promulgated thereunder. 
 “Individual Agreement” shall mean any individual (a) employment contract,
(b) retention, severance or change in control agreement, or (c) other agreement containing restrictive covenants (including confidentiality, noncompetition and nonsolicitation provisions) between a member of the Parent Group and a SpinCo
Group Employee or any Former SpinCo Group Employee, as in effect immediately prior to the Effective Time. 
 “IRS” shall
mean the U.S. Internal Revenue Service. 
 “Law” shall have the meaning set forth in the Separation and Distribution
Agreement. 
 “Liabilities” shall have the meaning set forth in the Separation and Distribution Agreement. 

“Nasdaq” shall mean the Nasdaq Global Select Market operated by Nasdaq, Inc. 

“Option Exercise Price Ratio” shall mean, with respect to a Parent Option Award, the quotient obtained by dividing
(i) the per share exercise price of such Parent Option immediately prior to the Effective Time, by (ii) the Pre-Separation Parent Stock Value. 

“Parent” shall have the meaning set forth in the Preamble. 

“Parent 401(k) Plan” shall mean the Ziff Davis, Inc. Retirement Savings Plan, as in effect or as it may be amended from time
to time. 

  
 4 

 “Parent Awards” shall mean Parent Option Awards, Parent RSU Awards, and
Parent Restricted Stock Awards, collectively. 
 “Parent Benefit Plan” shall mean any Benefit Plan established, sponsored
or maintained by Parent or any of its Subsidiaries immediately prior to the Effective Time, but excluding any SpinCo Benefit Plan. 

“Parent Board” shall have the meaning set forth in the Recitals. 

“Parent Business” shall have the meaning set forth in the Separation and Distribution Agreement. 

“Parent Change in Control” shall have the meaning set forth in Section 4.02(d)(i). 

“Parent Compensation Committee” shall mean the Compensation Committee of the Parent Board. 

“Parent ESPP” has the meaning specified in Section 4.03(a). 

“Parent Group” shall have the meaning set forth in the Separation and Distribution Agreement. 

“Parent Group Employees” shall have the meaning set forth in Section 3.01(a)(ii). 

“Parent Liabilities” shall have the meaning set forth in the Separation and Distribution Agreement. 

“Parent Non-Equity Incentive Practices” shall mean the corporate nonequity incentive
practices of the Parent Group. 
 “Parent Omnibus Plan” shall mean each of the J2 Global, Inc. 2007 Stock Option Plan and
the J2 Global, Inc. 2015 Stock Option Plan, as in effect from time to time. 
 “Parent Option Award” shall mean an award of
options to purchase Parent Shares granted pursuant to a Parent Omnibus Plan that is outstanding as of immediately prior to the Effective Time. 

“Parent Ratio” shall mean the quotient obtained by dividing (a) the
Pre-Separation Parent Stock Value by (b) the Post-Separation Parent Stock Value. 

“Parent Restricted Stock Award” shall mean an award of restricted Parent Shares, including any time-based restricted shares
or performance restricted shares, granted pursuant to a Parent Omnibus Plan, which is outstanding as of immediately prior to the Effective Time. 

“Parent RSU Award” shall mean an award of restricted stock units, including any time-based restricted stock unit or
performance restricted stock unit, granted pursuant to a Parent Omnibus Plan, which is outstanding as of immediately prior to the Effective Time. 

  
 5 

 “Parent Shares” shall have the meaning set forth in the Separation and
Distribution Agreement. 
 “Parent Welfare Plan” shall mean any Parent Benefit Plan which is a Welfare Plan. 

“Parties” shall mean the parties to this Agreement. 

“Person” shall have the meaning set forth in the Separation and Distribution Agreement. 

“Post-Separation Parent Awards” shall mean Post-Separation Parent Option Awards, Post-Separation Parent RSU Awards, and
Post-Separation Restricted Stock Awards, collectively. 
 “Post-Separation Parent Option Award” shall mean a Parent Option
Award, as adjusted as of the Effective Time in accordance with Section 4.02(a). 
 “Post-Separation Parent
Restricted Stock Award” shall mean a Parent Restricted Stock Award, as adjusted as of the Effective Time in accordance with Section 4.02(c). 

“Post-Separation Parent RSU Award” shall mean a Parent RSU Award, as adjusted as of the Effective Time in accordance with
Section 4.02(b). 
 “Post-Separation Parent Stock Value” shall mean the average of the VWAP of
Parent Shares for the 30 regular trading days commencing with the Distribution Date. 

“Pre-Separation Parent Stock Value” shall mean the shall mean the average of the VWAP
of Parent Shares for the 30 regular trading days ending on the day before the Distribution Date. 
 “QDRO” shall mean a
qualified domestic relations order within the meaning of Section 206(d) of ERISA and Section 414(p) of the Code. 

“Record Date” shall have the meaning set forth in the Separation and Distribution Agreement. 

“Retained Shares” shall have the meaning set forth in the Recitals. 

“Securities Act” shall mean the U.S. Securities Act of 1933, as amended, together with the rules and regulations promulgated
thereunder. 
 “Separation” shall have the meaning set forth in the Recitals. 

“Separation and Distribution Agreement” shall have the meaning set forth in the Recitals. 

“SpinCo” shall have the meaning set forth in the Preamble. 

“SpinCo 401(k) Plan” shall mean the SpinCo 401(k) Savings Plan, to be adopted by SpinCo prior to or on the Distribution Date
as described in Section 5.01. 

  
 6 

 “SpinCo 401(k) Trust” shall have the meaning set forth in
Section 5.01(a). 
 “SpinCo Assets” shall have the meaning set forth in the Separation and
Distribution Agreement. 
 “SpinCo Awards” shall mean SpinCo Option Awards, SpinCo RSU Awards and SpinCo Restricted Stock
Awards, collectively. 
 “SpinCo Benefit Plan” shall mean any Benefit Plan established, sponsored, maintained or
contributed to by a member of the SpinCo Group as of or after the Effective Time. 
 “SpinCo Board” shall mean the Board of
Directors of SpinCo. 
 “SpinCo Business” shall have the meaning set forth in the Separation and Distribution Agreement.

 “SpinCo Cash Amount” shall have the meaning set forth in the Separation and Distribution Agreement. 

“SpinCo Change in Control” shall have the meaning set forth in Section 4.02(d)(i). 

“SpinCo Designees” shall have the meaning set forth in the Separation and Distribution Agreement. 

“SpinCo ESPP” has the meaning specified in Section 4.03(a). 

“SpinCo Flex Plan” shall have the meaning set forth in Section 6.01(c). 

“SpinCo Group” shall have the meaning set forth in the Separation and Distribution Agreement. 

“SpinCo Group Employees” shall have the meaning set forth in Section 3.01(a). 

“SpinCo Liabilities” shall have the meaning set forth in the Separation and Distribution Agreement. 

“SpinCo Non-Equity Incentive Practices” shall mean the corporate nonequity incentive
practices, as established by SpinCo as of the Effective Time pursuant to Section 2.02(a) and Section 4.04(a). 

“SpinCo Omnibus Plan” shall mean the SpinCo 2021 Stock Option Plan, as established by SpinCo as of the Effective Time
pursuant to Section 2.02(a) and Section 4.01. 
 “SpinCo Option Award”
shall mean an award of stock options assumed and granted by SpinCo pursuant to the SpinCo Omnibus Plan in accordance with Section 4.02(a). 

“SpinCo Ratio” shall mean the quotient obtained by dividing (a) the
Pre-Separation Parent Stock Value by (b) the SpinCo Stock Value. 

  
 7 

 “SpinCo Restricted Stock Award” shall mean an award of restricted SpinCo
Shares, including any time-based restricted shares or performance restricted shares, assumed and granted pursuant to the SpinCo Omnibus Plan in accordance with Section 4.02(c). 

“SpinCo RSU Award” shall mean an award of restricted stock units (including any performance restricted stock units) assumed
and granted pursuant to the SpinCo Omnibus Plan in accordance with Section 4.02(b). 
 “SpinCo
Securities” shall have the meaning set forth in the Separation and Distribution Agreement. 
 “SpinCo Shares”
shall have the meaning set forth in the Separation and Distribution Agreement. 
 “SpinCo Stock Value” shall mean the
average of the VWAP of SpinCo Shares for the 30 regular trading days commencing with the Distribution Date. 
 “SpinCo Welfare
Plan” shall mean a Welfare Plan established, sponsored, maintained or contributed to by any member of the SpinCo Group for the benefit of SpinCo Group Employees and Former SpinCo Group Employees. 

“Subsequent Distribution” shall have the meaning set forth in the Recitals. 

“Subsidiary” shall have the meaning set forth in the Separation and Distribution Agreement. 

“Tax” shall have the meaning set forth in the Tax Matters Agreement. 

“Third-Party Claim” shall have the meaning set forth in the Separation and Distribution Agreement. 

“Transferred Account Balances” shall have the meaning set forth in Section 6.01(c). 

“Transferred Director” shall mean each SpinCo nonemployee director as of the Effective Time who served on the Parent Board
immediately prior to the Effective Time. 
 “Transition Services Agreement” shall have the meaning set forth in the
Separation and Distribution Agreement. 
 “U.S.” shall mean the United States of America. 

“VWAP” means the volume weighted average price of the applicable stock on the Nasdaq over a specified period of time. 

“Welfare Plan” shall mean any “welfare plan” (as defined in Section 3(1) of ERISA) or a “cafeteria
plan” under Section 125 of the Code, and any benefits offered thereunder, and any other plan offering health benefits (including medical, prescription drug, dental, vision, mental health, substance abuse and retiree health), disability
benefits, or life, accidental death and dismemberment, and business travel insurance, pre-Tax premium conversion benefits, dependent care assistance programs, employee assistance programs, paid time-off programs, contribution funding toward a health savings account, flexible spending accounts or severance. 

  
 8 

 Section 1.02. Interpretation. Section 10.13 of the Separation and
Distribution Agreement is hereby incorporated by reference. 
 ARTICLE II 

GENERAL PRINCIPLES FOR ALLOCATION OF LIABILITIES 

Section 2.01. General Principles. 

(a) Acceptance and Assumption of SpinCo Liabilities. Except as otherwise provided by this Agreement, on or prior to the Effective Time,
but in any case prior to the Distribution, SpinCo and the applicable SpinCo Designees shall accept, assume and agree faithfully to perform, discharge and fulfill all of the following Liabilities in accordance with their respective terms (each of
which shall be considered a SpinCo Liability), regardless of when or where such Liabilities arose or arise, or whether the facts on which they are based occurred prior to, at or subsequent to the Effective Time, regardless of where or against whom
such Liabilities are asserted or determined (including any Liabilities arising out of claims made by Parent’s or SpinCo’s respective directors, officers, Employees, Former Employees, agents, Subsidiaries or Affiliates against any member of
the Parent Group or the SpinCo Group) or whether asserted or determined prior to the date hereof, and regardless of whether arising from or alleged to arise from negligence, recklessness, violation of Law, fraud or misrepresentation by any member of
the Parent Group or the SpinCo Group, or any of their respective directors, officers, Employees, Former Employees, agents, Subsidiaries or Affiliates: 

(i) any and all wages, salaries, incentive compensation, equity compensation, commissions, bonuses and any other employee
compensation or benefits payable to or on behalf of any SpinCo Group Employees and Former SpinCo Group Employees after the Effective Time, without regard to when such wages, salaries, incentive compensation, equity compensation, commissions, bonuses
or other employee compensation or benefits are or may have been awarded or earned; 
 (ii) any and all Liabilities whatsoever
with respect to claims under a SpinCo Benefit Plan, taking into account the SpinCo Benefit Plan’s assumption of Liabilities with respect to SpinCo Group Employees and Former SpinCo Group Employees that were originally the Liabilities of the
corresponding Parent Benefit Plan with respect to periods prior to the Effective Time; and 
 (iii) any and all Liabilities
expressly assumed or retained by any member of the SpinCo Group pursuant to this Agreement. 
 (b) Acceptance and Assumption of Parent
Liabilities. Except as otherwise provided by this Agreement, on or prior to the Effective Time, but in any case prior to the Distribution, Parent and certain members of the Parent Group designated by Parent shall accept, assume and agree
faithfully to perform, discharge and fulfill all of the following Liabilities in accordance with their respective terms (each of which shall be considered a Parent Liability), 

  
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regardless of when or where such Liabilities arose or arise, or whether the facts on which they are based occurred prior to, at or subsequent to the Effective Time, regardless of where or against
whom such Liabilities are asserted or determined (including any Liabilities arising out of claims made by Parent’s or SpinCo’s respective directors, officers, Employees, Former Employees, agents, Subsidiaries or Affiliates against any
member of the Parent Group or the SpinCo Group) or whether asserted or determined prior to the date hereof, and regardless of whether arising from or alleged to arise from negligence, recklessness, violation of Law, fraud or misrepresentation by any
member of the Parent Group or the SpinCo Group, or any of their respective directors, officers, Employees, Former Employees, agents, Subsidiaries or Affiliates: 

(i) any and all wages, salaries, incentive compensation, equity compensation, commissions, bonuses and any other employee
compensation or benefits payable to or on behalf of any Parent Group Employees and Former Parent Group Employees after the Effective Time, without regard to when such wages, salaries, incentive compensation, equity compensation, commissions, bonuses
or other employee compensation or benefits are or may have been awarded or earned; 
 (ii) any and all Liabilities whatsoever
with respect to claims under a Parent Benefit Plan, taking into account a corresponding SpinCo Benefit Plan’s assumption of Liabilities with respect to SpinCo Group Employees and Former SpinCo Group Employees that were originally the
Liabilities of such Parent Benefit Plan with respect to periods prior to the Effective Time; and 
 (iii) any and all
Liabilities expressly assumed or retained by any member of the Parent Group pursuant to this Agreement. 
 (c) Unaddressed Liabilities.
To the extent that this Agreement does not address particular Liabilities under any Benefit Plan and the Parties later determine that they should be allocated in connection with the Distribution, the Parties shall agree in good faith on the
allocation, taking into account the handling of comparable Liabilities under this Agreement. 
 Section 2.02. Adoption and Transfer
and Assumption of Benefit Plans. 
 (a) Adoption by SpinCo of Benefit Plans. As of no later than the Effective Time, SpinCo shall
adopt Benefit Plans (and related trusts, if applicable) as contemplated and in accordance with the terms of this Agreement, which Benefit Plans are generally intended to contain terms substantially similar in all material respects to those of the
corresponding Parent Benefit Plans as in effect immediately prior to the Effective Time, as listed on Schedule 2.02(a) to this Agreement, with such changes, modifications or amendments to the SpinCo Benefit Plans as may be required by
applicable Law or to reflect the Separation and Distribution, including limiting participation in any such SpinCo Benefit Plan to SpinCo Group Employees and Former SpinCo Group Employees who participated in the corresponding Benefit Plan immediately
prior to the Effective Time. 

  
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 (b) Plans Not Required to Be Adopted. With respect to any Benefit Plan not listed or
otherwise addressed in this Agreement, the Parties shall agree in good faith on the treatment of such plan taking into account the handling of any comparable plan under this Agreement and, notwithstanding that SpinCo shall not have an obligation to
continue to maintain any such plan with respect to the provision of future benefits from and after the Effective Time, SpinCo shall remain obligated to pay or provide any previously accrued or incurred benefits to the SpinCo Group Employees and
Former SpinCo Group Employees consistent with Section 2.01(a) of this Agreement. 
 (c) Information, Elections
and Beneficiary Designations. Each Party shall use its commercially reasonable efforts to provide the other Party with information describing each Benefit Plan election made by an Employee or Former Employee that may have application to such
Party’s Benefit Plans from and after the Effective Time, and each Party shall use its commercially reasonable efforts to administer its Benefit Plans using those elections, including any beneficiary designations. To the extent transferred, any
beneficiary designation made by a SpinCo Group Employee or Former SpinCo Group Employee under a corresponding Parent Benefit Plan shall be transferred to and be in full force and effect under the corresponding SpinCo Benefit Plan until such
beneficiary designation is replaced or revoked by the SpinCo Employee or Former SpinCo Employee who made the beneficiary designation. Each Party shall, upon reasonable request, use its commercially reasonable efforts to provide the other Party and
the other Party’s respective Affiliates, agents, and vendors all information reasonably necessary to the other Party’s operation or administration of its Benefit Plans. 

(d) Service Credit and Other Factors Determining Benefits. As of the Effective Time, the SpinCo Benefit Plans shall provide for each
SpinCo Group Employee who is employed immediately following the Effective Time by a member of the SpinCo Group and each Former SpinCo Group Employee that all service, all compensation and other factors affecting benefit determinations that, as of
the Distribution Date, were recognized under the corresponding Parent Benefit Plan shall receive full recognition and credit and shall be taken into account under such SpinCo Benefit Plan to the same extent as though arising under such SpinCo
Benefit Plan, except as duplication of benefits would result. 
 (e) No Duplication or Acceleration of Benefits. Notwithstanding
anything to the contrary in this Agreement, the Separation and Distribution Agreement or any Ancillary Agreement, no participant in any Benefit Plan shall receive service credit or benefits or recognition of compensation or other factors to the
extent that receipt of such service credit or benefits or recognition of compensation or other factors would result in duplication of benefits provided to such participant by the corresponding Benefit Plan or any other plan, program or arrangement
sponsored or maintained by a member of the Group that sponsors the corresponding Benefit Plan. Furthermore, unless expressly provided for in this Agreement, the Separation and Distribution Agreement or in any Ancillary Agreement or required by
applicable Law, no provision in this Agreement shall be construed to (i) create any right to accelerate vesting distributions or entitlements under any Benefit Plan sponsored or maintained by a member of the Parent Group or member of the SpinCo
Group on the part of any Employee or Former Employee or (ii) limit the ability of a member of the Parent Group or SpinCo Group to amend, merge, modify eliminate, reduce or otherwise alter in any respect any benefit under any Benefit Plan
sponsored or maintained by a member of the Parent Group or SpinCo Group, respectively, or any trust, insurance policy or funding vehicle related thereto. 

  
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 (f) Transition Services. The Parties acknowledge that the Parent Group or the SpinCo
Group may provide administrative services for certain of the other Party’s compensation and benefit programs for a transitional period under the terms of the Transition Services Agreement. The Parties agree to enter into a business associate
agreement (if required by HIPAA or other applicable health information privacy Laws) in connection with such Transition Services Agreement. 

(g) Beneficiaries. References to Parent Group Employees, Former Parent Group Employees, SpinCo Group Employees, Former SpinCo Group
Employees, and current and former nonemployee directors of either Parent or SpinCo, shall be deemed to refer to their beneficiaries, dependents, survivors and alternate payees, as applicable. 

Section 2.03. Individual Agreements. 

(a) Assignment by Parent. To the extent necessary, Parent shall assign, or cause an applicable member of the Parent Group to assign, to
SpinCo or another member of the SpinCo Group, as designated by SpinCo, all Individual Agreements, with such assignment to be effective as of no later than the Effective Time; provided, however, that to the extent that assignment of any
such Individual Agreement is not permitted by the terms of such agreement or by applicable Law, effective as of the Effective Time, each member of the SpinCo Group shall be considered to be a successor to each member of the Parent Group for purposes
of, and a third-party beneficiary with respect to, such Individual Agreement, such that each member of the SpinCo Group shall enjoy all of the rights and benefits under such agreement (including rights and benefits as a third-party beneficiary),
with respect to the business operations of the SpinCo Group; provided, further, that in no event shall Parent be permitted to enforce any Individual Agreement (including any agreement containing noncompetition or nonsolicitation
covenants) against a SpinCo Group Employee or Former SpinCo Group Employee for action taken in such individual’s capacity as a SpinCo Group Employee or Former SpinCo Group Employee other than on behalf of SpinCo Group as requested by SpinCo
Group in its capacity as a third-party beneficiary. 
 (b) Assumption by SpinCo. Effective as of the Effective Time, SpinCo shall
assume and honor any individual agreement to which any SpinCo Group Employee or Former SpinCo Group Employee is a party with any member of the Parent Group, including any Individual Agreement. 

Section 2.04. Reimbursement. 

(a) By SpinCo. From time to time after the completion of the Separation, SpinCo shall promptly reimburse Parent for the cost of any
obligations or Liabilities that Parent elects to, or is compelled to, pay or otherwise satisfy, that are or that pursuant to this Agreement have become, the responsibility of the SpinCo Group. Parent shall invoice SpinCo after the end of each fiscal
month for all such costs (if any) in such fiscal month. SpinCo shall pay any amounts due by SpinCo hereunder in immediately available funds within thirty (30) days of SpinCo’s receipt of each invoice therefor. Any amount not paid within
thirty (30) days after the date when payable shall bear interest at the Applicable Rate (as defined in the Transition Services Agreement) from the date such amount is due. SpinCo shall not deduct, set off,

  
 12 

 
counterclaim or otherwise withhold any amount owed by it to Parent (on account of any obligation owed by the Parent Group, whether or not such obligation has been finally adjudicated, settled or
otherwise agreed upon in writing) against the amounts payable pursuant to this Agreement; provided that in the event SpinCo dispute any amount on an invoice, SpinCo shall notify Parent in writing within twenty (20) days after
SpinCo’s receipt of such invoice and shall describe in detail the reason for disputing such amount, provide any documents or other materials supporting its dispute, and will be entitled to withhold only the amount in dispute during the pendency
of the dispute. SpinCo shall cause the timely payment of the undisputed portion of each invoice in the manner set forth in this Agreement and shall be subject to late charges at the Applicable Rate and any other costs incurred by Parent pursuant to
this Section 2.04(a) on any amount that is unsuccessfully disputed. 
 (b) By Parent. From time to time
after the completion of the Separation, Parent shall promptly reimburse SpinCo for the cost of any obligations or Liabilities that SpinCo elects to, or is compelled to, pay or otherwise satisfy, that are or that pursuant to this Agreement have
become, the responsibility of the Parent Group. SpinCo shall invoice Parent after the end of each fiscal month for all such costs (if any) in such fiscal month. Parent shall pay any amounts due by Parent hereunder in immediately available funds
within thirty (30) days of Parent’s receipt of each invoice therefor. Any amount not paid within thirty (30) days after the date when payable shall bear interest at the Applicable Rate from the date such amount is due. Parent shall
not deduct, set off, counterclaim or otherwise withhold any amount owed by it to SpinCo (on account of any obligation owed by the SpinCo Group, whether or not such obligation has been finally adjudicated, settled or otherwise agreed upon in writing)
against the amounts payable pursuant to this Agreement; provided that in the event Parent disputes any amount on an invoice, Parent shall notify SpinCo in writing within twenty (20) days after Parent’s receipt of such invoice and
shall describe in detail the reason for disputing such amount, provide any documents or other materials supporting its dispute, and will be entitled to withhold only the amount in dispute during the pendency of the dispute. Parent shall cause the
timely payment of the undisputed portion of each invoice in the manner set forth in this Agreement and shall be subject to late charges at the Applicable Rate and any other costs incurred by SpinCo and controlled pursuant to this
Section 2.04(b) on any amount that is unsuccessfully disputed. 
 Section 2.05. Non-U.S. Issues. To the extent that any matter described herein relates to jurisdictions other than the United States, the principles described in this Agreement shall be applied to the maximum extent possible,
but shall modified by reasonable agreement of the Parties to the extent required to comply with applicable law. 
 ARTICLE III 

ASSIGNMENT OF EMPLOYEES 

Section 3.01. Active Employees. 

(a) Assignment and Transfer of Employees. Effective as of no later than the Effective Time and except as otherwise agreed to by the
Parties, (i) the applicable member of the Parent Group shall have taken such actions as are necessary to ensure that each individual who is intended to be an employee of the SpinCo Group as of immediately after the Effective Time (including any
such individual who is not actively working as of the Effective Time as a result of 

  
 13 

 
an illness, injury or leave of absence approved by the Parent Human Resources department or otherwise taken in accordance with applicable Law) (collectively, the “SpinCo Group
Employees”) is employed by a member of the SpinCo Group as of immediately after the Effective Time, and (ii) the applicable member of the Parent Group shall have taken such actions as are necessary to ensure that each individual who is
intended to be an employee of the Parent Group as of immediately after the Effective Time (including any such individual who is not actively working as of the Effective Time as a result of an illness, injury or leave of absence approved by the
Parent Human Resources department or otherwise taken in accordance with applicable Law) and any other individual employed by the Parent Group as of the Effective Time who is not a SpinCo Group Employee (collectively, the “Parent Group
Employees”) is employed by a member of the Parent Group as of immediately after the Effective Time. Each of the Parties agrees to execute, and to seek to have the applicable Employees execute, such documentation, if any, as may be necessary
to reflect such assignment and/or transfer. 
 (b) At-Will Status. Nothing in this Agreement
shall create any obligation on the part of any member of the Parent Group or any member of the SpinCo Group to (i) continue the employment of any Employee or permit the return from a leave of absence for any period after the date of this
Agreement (except as required by applicable Law) or (ii) change the employment status of any Employee from “at-will,” to the extent that such Employee is an
“at-will” employee under applicable Law. Except as provided in this Agreement, this Agreement shall not limit the ability of the Parent Group or the SpinCo Group to change the position, compensation
or benefits of any Employees for performance related, business or any other reason. 
 (c) Severance. The Parties acknowledge and
agree that the Separation, Distribution and the assignment, transfer or continuation of the employment of Employees as contemplated by this Section 3.01 shall not be deemed an involuntary termination of employment entitling
any SpinCo Group Employee or Parent Group Employee to severance payments or benefits and that the Parties shall reasonably cooperate to avoid any statutory severance or similar obligations. 

(d) Not a Change in Control. The Parties acknowledge and agree that neither the consummation of the Separation, Distribution nor any
transaction contemplated by this Agreement, the Separation and Distribution Agreement or any other Ancillary Agreement shall be deemed a “change in control,” “change of control,” or term of similar import for purposes of any
Benefit Plan sponsored or maintained by any member of the Parent Group or member of the SpinCo Group and except as provided in this Agreement or as otherwise required by applicable law or Individual Agreement, no provision of this Agreement shall be
construed to accelerate any vesting or create an right or entitlement to any compensation or benefits on the part of any Employee. 

Section 3.02. Payroll and Related Taxes. Except as otherwise provided in the Transition Services Agreement, with respect to the
SpinCo Group Employees transferred to the SpinCo Group during the tax year ending on and including the Separation, SpinCo will be responsible for all payroll obligations, tax withholding and reporting obligations regarding, all such SpinCo Group
Employees, and furnish a Form W-2 or similar earning statement to, all such SpinCo Group Employees for the entire year. Except as otherwise provided in the Transition Services

  
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Agreement, with respect to each affected SpinCo Group Employee, Parent and SpinCo shall, and shall cause their respective Affiliates to (to the extent practicable and to the extent permitted by
applicable Law) (x) treat SpinCo (or the applicable member of the SpinCo Group) as a “successor employer” and treat Parent (or the applicable member of the Parent Group) as a “predecessor” within the meaning of Sections
3121(a)(1) and 3306(b)(1) of the Code, to the extent appropriate, for purposes of taxes imposed under the United States Federal Insurance Contributions Act, as amended (“FICA”), or the United States Federal Unemployment Tax Act, as
amended (“FUTA”), and (y) file tax returns, exchange wage payment information and report wage payments made by the respective predecessor and successor employer on the same IRS Forms W-2
or similar earnings statements to each such SpinCo Group Employee for the tax year in which the Separation occurs, in a manner provided under the “alternative procedure” in Revenue Procedure 2004-53.

 ARTICLE IV 
 EQUITY,
INCENTIVE AND EXECUTIVE COMPENSATION 
 Section 4.01. Generally. Each Parent Award granted that is outstanding as of
immediately prior to the Effective Time shall be adjusted as described below; provided, however, effective immediately prior to the Effective Time, the Parent Compensation Committee may provide for different adjustments with respect to
some or all Parent Awards to the extent that the Parent Compensation Committee deems such adjustments necessary and appropriate. Any adjustments made by the Parent Compensation Committee pursuant to the foregoing sentence shall be deemed
incorporated by reference herein as if fully set forth below and shall be binding on the Parties and their respective Affiliates. Before the Effective Time, the SpinCo Omnibus Plan shall be established, with such terms as are necessary to permit the
implementation of the provisions of Section 4.02. 
 Section 4.02. Equity Incentive Awards. 

(a) Option Awards. Each Parent Option Award that is outstanding immediately prior to the Effective Time shall be converted as of the
Effective Time into either a Post-Separation Parent Option Award or a SpinCo Option Award as described below: 
 (i) Each
Parent Option Award held by a Parent Group Employee and Former Employee shall be converted as of the Effective Time, through an adjustment thereto, into a Post-Separation Parent Option Award and shall, except as otherwise provided in this
Section 4.02(a), be subject to the same terms and conditions (including with respect to vesting and expiration) after the Effective Time as applicable to such Parent Option Award immediately prior to the Effective Time.
From and after the Effective Time: 
 (A) the number of Parent Shares subject to such Post-Separation Parent Option Award,
rounded down to the nearest whole share, shall be equal to the product obtained by multiplying (1) the number of Parent Shares subject to the corresponding Parent Option Award immediately prior to the Effective Time, by (2) the Parent
Ratio; and 

  
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 (B) the per share exercise price of such Post-Separation Parent Option
Award, rounded up to the nearest cent, shall be equal to the product obtained by multiplying (1) the Post-Separation Parent Stock Value, by (2) the Option Exercise Price Ratio. 

(ii) Each Parent Option Award held by a SpinCo Group Employee shall be converted as of the Effective Time into a SpinCo Option
Award outstanding under the SpinCo Omnibus Plan and shall, except as otherwise provided in this Section 4.02(a), be subject to the same terms and conditions (including with respect to vesting and expiration) after the
Effective Time as applicable to such Parent Option Award immediately prior to the Effective Time. From and after the Effective Time: 

(A) the number of SpinCo Shares subject to such SpinCo Option Award, rounded down to the nearest whole share, shall be equal to
the product obtained by multiplying (1) the number of Parent Shares subject to the corresponding Parent Option Award immediately prior to the Effective Time, by (2) the SpinCo Ratio; and 

(B) the per share exercise price of such SpinCo Option Award, rounded up to the nearest cent, shall be equal to the product
obtained by multiplying (1) the SpinCo Stock Value, by (2) the Option Exercise Price Ratio of the corresponding Parent Option Award. 

Notwithstanding anything to the contrary in this Section 4.02(a), the exercise price, the number of Parent Shares
and SpinCo Shares subject to each Post-Separation Parent Option Award and SpinCo Option Award, and the terms and conditions of exercise of such options, shall be determined in a manner consistent with the requirements of Section 409A of the
Code; provided, further, that, in the case of any Parent Option Award to which Section 421 of the Code applies by reason of its qualification under Section 422 of the Code as of immediately prior to the Effective Time, the
exercise price, the number of Parent Shares and SpinCo Shares subject to such option award, and the terms and conditions of exercise of such option award shall be determined in a manner consistent with the requirements of Section 424(a) of the
Code. 
 (b) RSU Awards. Each Parent RSU Award that is outstanding as of immediately prior to the Effective Time shall be treated as
follows: 
 (i) If the holder is not a SpinCo Group Employee, such award shall be converted, as of the Effective Time, into a
Post-Separation Parent RSU Award, and shall, except as otherwise provided in this Section 4.02, be subject to the same terms and conditions (including with respect to vesting and expiration) after the Effective Time as were applicable to
such Parent RSU Award immediately prior to the Effective Time; provided, however, that from and after the Effective Time, the number of Parent Shares subject to such Post-Separation Parent RSU Award shall be equal to the product,
rounded down to the nearest whole share, obtained by multiplying (A) the number of Parent Shares subject to the corresponding Parent RSU Award immediately prior to the Effective Time by (B) the Parent Ratio. If the Parent RSU Award is
subject to performance vesting conditions, the performance goals shall be appropriately adjusted by the Parent Board or a committee thereof; provided that if the performance goals were achieved prior to the Effective Time, the earned
Post-Separation RSU Award shall vest solely on the basis of time at the time(s) specified in the applicable award agreement. 

  
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 (ii) If the holder is a SpinCo Group Employee, such award shall be
converted, as of the Effective Time, into a SpinCo RSU Award, and shall, except as otherwise provided in this Section 4.02, be subject to the same terms and conditions (including with respect to vesting and expiration)
after the Effective Time as were applicable to such Parent RSU Award immediately prior to the Effective Time; provided, however, that from and after the Effective Time, the number of SpinCo Shares subject to such SpinCo RSU Award shall
be equal to the product, rounded down to the nearest whole share, obtained by multiplying (A) the number of Parent Shares subject to the corresponding Parent RSU Award immediately prior to the Effective Time by (B) the SpinCo Ratio. If the
Parent RSU Award is subject to performance vesting conditions, the performance goals applicable to the converted SpinCo RSU Award shall be appropriately adjusted by the SpinCo Board or a committee thereof; provided that if the performance goals were
achieved prior to the Effective Time, the earned SpinCo RSU Award shall vest solely on the basis of time at the time(s) specified in the applicable award agreement. 

(c) Restricted Stock. Each Parent Restricted Stock Award that is outstanding as of immediately prior to the Effective Time shall be
treated as follows: 
 (i) If the holder is not a SpinCo Group Employee, such award shall be converted, as of the Effective
Time, into a Post-Separation Parent Restricted Stock Award, and shall, except as otherwise provided in this Section 4.02, be subject to the same terms and conditions (including with respect to vesting and expiration) after the Effective
Time as were applicable to such Parent Restricted Stock Award immediately prior to the Effective Time; provided, however, that from and after the Effective Time, the number of Parent Shares subject to such Post-Separation Parent
Restricted Stock Award shall be equal to the product, rounded down to the nearest whole share, obtained by multiplying (A) the number of Parent Shares subject to the corresponding Parent Restricted Stock Award immediately prior to the Effective
Time by (B) the Parent Ratio. If the Parent Restricted Stock Award is subject to performance vesting conditions, the performance goals shall be appropriately adjusted by the Parent Board or a committee thereof, provided that if the performance
goals were achieved prior to the Effective Time, the earned Post-Separation Restricted Stock Award shall vest solely on the basis of time at the time(s) specified in the applicable award agreement. 

(ii) If the holder is a SpinCo Group Employee, such award shall be converted, as of the Effective Time, into a SpinCo
Restricted Stock Award, and shall, except as otherwise provided in this Section 4.02, be subject to the same terms and conditions (including with respect to vesting and expiration) after the Effective Time as were
applicable to such Parent Restricted Stock Award immediately prior to the Effective Time; provided, however, that from and after the Effective Time, the number of SpinCo Shares subject to such SpinCo Restricted Stock Award shall be
equal to the product, rounded down to the nearest whole share, obtained by multiplying (A) the number of Parent Shares subject to the corresponding Parent Restricted Stock Award immediately 

  
 17 

 
prior to the Effective Time by (B) the SpinCo Ratio. If the Parent Restricted Stock Award is subject to performance vesting conditions, the performance goals applicable to the converted
SpinCo Restricted Stock Award shall be appropriately adjusted by the SpinCo Board or a committee thereof; provided that if the performance goals were achieved prior to the Effective Time, the earned SpinCo Restricted Stock Award shall vest solely on
the basis of time at the time(s) specified in the applicable award agreement. 
 (d) Miscellaneous Award Terms. 

(i) With respect to Post-Separation Parent Awards and SpinCo Awards, (A) employment with or service to the Parent Group
shall be treated as employment with or service to SpinCo with respect to SpinCo Awards held by a Parent Group Employee who is employed by a member of the Parent Group immediately following the Effective Time immediately following the Effective Time,
and (B) employment with or service to the SpinCo Group shall be treated as employment with or service to Parent with respect to Post-Separation Parent Awards held by SpinCo Group Employees who is employed by a member of the SpinCo Group
immediately following the Effective Time. In addition, none of the Separation, the Distribution or any employment transfer described in Section 3.01(a) shall constitute a termination of employment for any Employee for
purposes of any Post-Separation Parent Award or any SpinCo Award. After the Effective Time, for any award adjusted under this Section 4.02, any reference to a “change in control,” “change of control” or
similar definition in an award agreement, employment agreement or Parent Omnibus Plan applicable to such award (x) with respect to Post-Separation Parent Awards, shall be deemed to refer to a “change in control,” “change of
control” or similar definition as set forth in the applicable award agreement, employment agreement or Parent Omnibus Plan (a “Parent Change in Control”), and (y) with respect to SpinCo Awards, shall be deemed to refer to
a “Change in Control” as defined in the SpinCo Omnibus Plan (a “SpinCo Change in Control”). Without limiting the foregoing, with respect to provisions related to vesting of awards, a Parent Change in Control shall
be treated as a SpinCo Change in Control for purposes of SpinCo Awards held by Parent Group Employees, Former Employees (to the extent applicable) and Parent nonemployee directors, and a SpinCo Change in Control shall be treated as a Parent Change
in Control for purposes of Post-Separation Parent Awards held by SpinCo Group Employees and Transferred Directors. 
 (ii)
Any determination in respect of a Post-Separation Parent RSU Award and SpinCo RSU Award which in either case was adjusted from a Parent RSU Award, in each case, granted to the holder pursuant to the Parent Omnibus Plan or the SpinCo Omnibus Plan, as
applicable, and this Section 4.02, shall be made by the Compensation Committee of the Board of Directors of the Party to which the holder provides services immediately after the Effective Time (Parent or SpinCo, as
applicable); provided that any such determination shall apply uniformly to both the applicable Post-Separation Parent Award and the corresponding SpinCo RSU Award held by such holder. 

  
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 (e) Settlement; Tax Reporting and Withholding. 

(i) Except as otherwise provided in this Section 4.02(e), after the Effective Time, Post-Separation
Parent Awards, regardless of by whom held, shall be settled by Parent, and SpinCo Awards, regardless of by whom held, shall be settled by SpinCo. 

(ii) Upon the vesting, payment or settlement, as applicable, of SpinCo Awards, SpinCo shall be solely responsible for ensuring
the satisfaction of all applicable Tax withholding requirements with respect to the SpinCo Awards. Upon the vesting, payment or settlement, as applicable, of Post-Separation Parent Awards, Parent shall be solely responsible for ensuring the
satisfaction of all applicable Tax withholding requirements with respect to the Post-Separation Parent Awards. 
 (f) Cooperation.
Each of the Parties shall establish an appropriate administration system to administer, in an orderly manner, (i) exercises of vested Post-Separation Parent Options and SpinCo Options, (ii) the vesting and forfeiture of unvested
Post-Separation Parent Awards and SpinCo Awards, and (iii) the withholding and reporting requirements with respect to all awards. Each of the Parties shall work together to unify and consolidate all indicative data and payroll and employment
information on regular timetables and make certain that each applicable Person’s data and records in respect of such awards are correct and updated on a timely basis. The foregoing shall include employment status and information required for
vesting and forfeiture of awards and Tax withholding/remittance, compliance with trading windows and compliance with the requirements of the Exchange Act and other applicable Laws. 

(g) Registration and Other Regulatory Requirements. SpinCo agrees to file the appropriate registration statements with respect to, and
to cause to be registered pursuant to the Securities Act, the SpinCo Shares authorized for issuance under the SpinCo Omnibus Plan, as required pursuant to the Securities Act, not later than the Effective Time and in any event before the date of
issuance of any SpinCo Shares pursuant to the SpinCo Omnibus Plan. The Parties shall take such additional actions as are deemed necessary or advisable to effectuate the foregoing provisions of this Section 4.02(g),
including to the extent applicable, compliance with securities Laws and other legal requirements associated with equity compensation awards in affected non-U.S. jurisdictions. 

Section 4.03. Employee Stock Purchase Plan. 

(a) Effective as of the Distribution Date, SpinCo shall establish an employee stock purchase plan (the “SpinCo ESPP”) that
will provide benefits that are similar to those provided under the Parent 2001 Employee Stock Purchase Plan (the “Parent ESPP”) immediately before the Distribution Date. 

(b) Effective as of the Distribution Date, Parent shall amend the Parent ESPP to provide that any amounts contributed by SpinCo Group Employees
to the Parent ESPP shall be transferred to SpinCo and shall be applied to the purchase of SpinCo Shares under the SpinCo ESPP. The rights to purchase Parent Shares, which have been earned under the Parent ESPP shall be converted, in accordance with
the procedures described in Section 4.02(a)(ii) and applicable law, into rights to purchase SpinCo Shares under the SpinCo ESPP effective as of the Distribution Date with respect to a number of SpinCo Shares and at a price
determined on the same basis as under Section 4.02(a)(ii). The initial “purchase period” under the SpinCo ESPP will end on the same date that such period is scheduled to end under the Parent ESPP. Additional purchase periods under the
SpinCo ESPP will be subject to the terms and conditions determined by SpinCo in its sole discretion. 

  
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 Section 4.04. Nonequity Incentive Practices and Plans 

(a) Corporate Bonus Practices. 

(i) The SpinCo Group shall be responsible for determining all bonus awards that would otherwise be payable under the SpinCo Non-Equity Incentive Practices to SpinCo Group Employees or Former SpinCo Group Employees for any performance periods that are open when the Effective Time occurs. The SpinCo Group shall also determine for SpinCo
Group Employees or Former SpinCo Group Employees (A) the extent to which established performance criteria (as interpreted by the SpinCo Group, in its sole discretion) have been met, and (B) the payment level for each SpinCo Group Employee
or Former SpinCo Group Employee. The SpinCo Group shall assume all Liabilities with respect to any such bonus awards payable to SpinCo Group Employees or Former SpinCo Group Employees for any performance periods that are open when the Effective Time
occurs and thereafter, and no member of the Parent Group shall have any obligations with respect thereto except as provided in the Separation and Distribution Agreement. 

(ii) The Parent Group shall be responsible for determining all bonus awards that would otherwise be payable under the Parent Non-Equity Incentive Practices to Parent Group Employees or Former Parent Group Employees for any performance periods that are open when the Effective Time occurs. The Parent Group shall also determine for Parent
Group Employees or Former Parent Group Employees (A) the extent to which established performance criteria (as interpreted by the Parent Group, in its sole discretion) have been met, and (B) the payment level for each Parent Group Employee
or Former Parent Group Employee. The Parent Group shall retain (or assume as necessary) all Liabilities with respect to any such bonus awards payable to Parent Group Employees or Former Parent Group Employees for any performance periods that are
open when the Effective Time occurs and thereafter, and no member of the SpinCo Group shall have any obligations with respect thereto. 
 (b)
Parent Retained Bonus Plans. No later than the Effective Time, the Parent Group shall continue to retain (or assume as necessary) any incentive plan for the exclusive benefit of Parent Group Employees and Former Parent Group Employees,
whether or not sponsored by the Parent Group, and, from and after the Effective Time, shall be solely responsible for all Liabilities thereunder. 

(c) SpinCo Retained Bonus Plans. No later than the Effective Time, the SpinCo Group shall continue to retain (or assume as necessary)
any incentive plan for the exclusive benefit of SpinCo Group Employees and Former SpinCo Group Employees, whether or not sponsored by the SpinCo Group, and, from and after the Effective Time, shall be solely responsible for all Liabilities
thereunder. 

  
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 Section 4.05. Director Compensation. Parent shall be responsible for the payment
of any fees for service on the Parent Board that are payable at, before, or after the Effective Time, and SpinCo shall not have any responsibility for any such payments. With respect to any SpinCo nonemployee director, SpinCo shall be responsible
for the payment of any fees for service on the SpinCo Board that are payable at any time after the Effective Time and Parent shall not have any responsibility for any such payments. 

ARTICLE V 
 QUALIFIED
RETIREMENT PLAN 
 Section 5.01. SpinCo 401(k) Plan. 

(a) Establishment of Plan. Effective on or before the Distribution Date, the SpinCo Board shall adopt and establish the SpinCo 401(k)
Plan and a related trust (the “SpinCo 401(k) Trust”), which shall be intended to meet the tax qualification requirements of Section 401(a) of the Code, the tax exemption requirement of Section 501(a) of the Code, and the
requirements described in Sections 401(k) and (m) of the Code and which through December 31, 2021 shall have substantially the similar terms in all material respects as of immediately prior to the Distribution Date as the Parent 401(k)
Plan. Notwithstanding the foregoing, SpinCo may make such changes, modifications or amendments to the SpinCo 401(k) Plan as may be required by applicable Law or as are necessary and appropriate to reflect the Separation or which result from vendor
limitations. Before the Distribution Date, SpinCo shall provide Parent with (i) a copy of the SpinCo 401(k) Plan, SpinCo 401(k) Trust and favorable opinion regarding the tax-qualified status of the form
of the SpinCo 401(k) Plan and (ii) a copy of certified resolutions of the SpinCo Board (or its authorized committee or other delegate) evidencing adoption of the SpinCo 401(k) Plan and SpinCo 401(k) Trust and the assumption by the SpinCo 401(k)
Plan of the Liabilities described in Sections 5.01(b) and (c). 
 (b) Transfer of Account Balances. No later than thirty
(30) days following the Effective Time (or such other times as mutually agreed to by the parties), Parent shall cause the trustee of the Parent 401(k) Plan to transfer from the trust which forms a part of the Parent 401(k) Plan to the SpinCo
401(k) Trust, the account balances of SpinCo Group Employees and Former SpinCo Group Employees under the Parent 401(k) Plan, determined as of the date of the transfer. Unless otherwise agreed by the parties, such transfers shall be made in kind,
including promissory notes evidencing the transfer of outstanding loans. Any Asset and Liability transfers pursuant to this Section 5.01 shall comply in all respects with Sections 414(l) and 411(d)(6) of the Code and if
required, shall be made not less than thirty (30) days after Parent shall have filed the notice under Section 6058(b) of the Code. The parties agree that to the extent that any Assets are not transferred in kind, the assets transferred
will be mapped into an appropriate investment vehicle. 
 (c) Transfer of Liabilities. Effective as of the Effective Time but subject
to the Asset transfer specified in Section 5.01(b) above, the SpinCo 401(k) Plan shall assume and be solely responsible for all the Liabilities for or relating to SpinCo Group Employees or Former SpinCo Group Employees
under the Parent 401(k) Plan. SpinCo shall be responsible for all ongoing rights of or relating to SpinCo Group Employees for future participation (including the right to make payroll deductions) in the SpinCo 401(k) Plan. 

  
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 (d) SpinCo 401(k) Plan Provisions. The SpinCo 401(k) Plan shall provide that: 

(i) SpinCo Group Employees and Former SpinCo Group Employees shall be eligible to participate in the SpinCo 401(k) Plan as of
the Effective Time to the extent that they were eligible to participate in the Parent 401(k) Plan as of immediately prior to the Effective Time; 

(ii) the account balance of each SpinCo Group Employee and Former SpinCo Group Employees under the Parent 401(k) Plan as of the
date of the transfer of Assets from the Parent 401(k) Plan (including any outstanding promissory notes relating to outstanding loans) shall be credited to such individual’s account under the SpinCo 401(k) Plan; and 

(iii) the SpinCo 401(k) Plan shall assume and honor the terms of all QDROs in effect under the Parent 401(k) Plan in respect of
SpinCo Group Employees and Former SpinCo Group Employees immediately prior to the Effective Time. 
 (iv) Plan
Fiduciaries. For all periods at and after the Effective Time, the parties agree that the applicable fiduciaries of each of the Parent 401(k) Plan and the SpinCo 401(k) Plan, respectively, shall have the authority with respect to the Parent
401(k) Plan and the SpinCo 401(k) Plan, respectively, to determine the investment alternatives, the terms and conditions with respect to those investment alternatives and such other matters as are within the scope of their duties under ERISA and the
terms of the applicable plan documents. 
 (e) No Distributions. No SpinCo Group Employee shall be entitled to a right to a
distribution of his or her benefit under the Parent 401(k) Plan as a result of his or her transfer of employment from the Parent Group to the SpinCo Group nor as a result of the completion of the Separation. 

ARTICLE VI 
 WELFARE
BENEFIT PLANS 
 Section 6.01. Welfare Plans. 

(a) Establishment of SpinCo Welfare Plans. Except as otherwise provided in this Article VII, as of the Effective Time, SpinCo
shall establish the SpinCo Welfare Plans pursuant to Section 2.02(a) that generally correspond to the Parent Welfare Plans in which such SpinCo Group Employees participate immediately prior to the Effective Time. Through
December 31, 2018, the SpinCo Welfare Plans shall have terms substantially similar in all material respects to those of the corresponding Parent Welfare Plans listed on Schedule 7.01(a), and in all cases, with such
changes, modifications or amendments as may be required by applicable Law or as are necessary and appropriate to reflect the Separation. In addition, SpinCo or members of the SpinCo Group shall retain the right to modify, amend, alter or terminate
the terms of any SpinCo Welfare Plan to the same extent that the Parent Group had such rights under the corresponding Parent Welfare Plan. 

  
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 (b) Waiver of Conditions; Benefit Maximums. To the extent commercially available,
SpinCo shall use commercially reasonable efforts to cause the SpinCo Welfare Plans to: 
 (i) with respect to initial
enrollment as of the Effective Time, waive (x) all limitations as to preexisting conditions, exclusions, and service conditions with respect to participation and coverage requirements applicable to any SpinCo Group Employee or Former SpinCo
Group Employee, other than limitations that were in effect with respect to the SpinCo Group Employee or Former SpinCo Group Employee under the applicable Parent Welfare Plan as of immediately prior to the Effective Time, and (y) any waiting
period limitation or evidence of insurability requirement applicable to a SpinCo Group Employee or Former SpinCo Group Employee other than limitations or requirements that were in effect with respect to such SpinCo Group Employee or Former SpinCo
Group Employee under the applicable Parent Welfare Plans as of immediately prior to the Effective Time; and 
 (ii) take into
account (x) with respect to aggregate annual, lifetime, or similar maximum benefits available under the SpinCo Welfare Plans, a SpinCo Group Employee’s or Former SpinCo Group Employee’s prior claim experience under the Parent Welfare
Plans and any Benefit Plan that provides leave benefits; and (y) any eligible expenses incurred by a SpinCo Group Employee or Former SpinCo Group Employee and his or her covered dependents during the portion of the plan year of the applicable
Parent Welfare Plan ending as of the Effective Time to be taken into account under such SpinCo Welfare Plan for purposes of satisfying all deductible, coinsurance, and maximum
out-of-pocket requirements applicable to such SpinCo Group Employee or Former SpinCo Group Employee and his or her covered dependents for the applicable plan year to the
same extent as such expenses were taken into account by Parent for similar purposes prior to the Effective Time as if such amounts had been paid in accordance with such SpinCo Welfare Plan. 

(c) Flexible Spending Accounts. As of no later than the Effective Time, SpinCo shall establish SpinCo Welfare Plans that shall provide
health or dependent care flexible spending account benefits to SpinCo Group Employees on and after the Effective Time (collectively, the “SpinCo Flex Plan”). The Parties shall use commercially reasonable efforts to ensure that as of
the Effective Time any health and dependent care flexible spending accounts of SpinCo Group Employees (whether positive or negative) (the “Transferred Account Balances”) under Parent Welfare Plans are transferred as soon as
practicable after the Effective Time, from the Parent Welfare Plans to the SpinCo Flex Plan. Such SpinCo Flex Plan shall assume responsibility as of the Effective Time for all outstanding health or dependent care claims under the corresponding
Parent Welfare Plans of each SpinCo Group Employee for the year in which the Effective Time occurs and shall assume and agree to perform the obligations of the corresponding Parent Welfare Plans from and after the Effective Time. 

  
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 (d) Allocation of Welfare Plan Assets and Liabilities. Effective as of the Effective
Time, the Parent Group shall retain or assume, as applicable, and be responsible for all assets (including any insurance contracts, policies or other funding vehicles) and Liabilities relating to, arising out of or resulting from health and welfare
coverage or claims incurred by or on behalf of Parent Group Employees or Former Parent Group Employees under the Parent Welfare Plans or SpinCo Welfare Plans before, at, or after the Effective Time, and the SpinCo Group shall retain or assume, as
applicable, and be responsible for all assets (including any insurance contracts, policies or other funding vehicles) and Liabilities relating to, arising out of or resulting from health and welfare coverage or claims incurred by or on behalf of
SpinCo Group Employees or Former SpinCo Group Employees under the SpinCo Welfare Plans or Parent Welfare Plans before, at, or after the Effective Time. No SpinCo Welfare Plan shall provide coverage to any Parent Group Employee or Former Parent Group
Employee after the Effective Time, and no Parent Welfare Plan shall provide coverage to any SpinCo Group Employee or Former SpinCo Group Employee after the Effective Time. 

Section 6.02. COBRA. The Parent Group shall continue to be responsible for complying with, and providing coverage pursuant to, the
health care continuation requirements of COBRA, and the corresponding provisions of the Parent Welfare Plans with respect to any Parent Group Employees and any Former Parent Group Employees (and their covered dependents) who incur a qualifying event
under COBRA before, as of, or after the Effective Time. Effective as of the Effective Time, the SpinCo Group shall assume responsibility for complying with, and providing coverage pursuant to, the health care continuation requirements of COBRA, and
the corresponding provisions of the SpinCo Welfare Plans with respect to any SpinCo Group Employees or Former SpinCo Group Employees (and their covered dependents) who incur a qualifying event or loss of coverage under the SpinCo Welfare Plans
and/or the Parent Welfare Plans before, as of, or after the Effective Time. The Parties agree that the consummation of the transactions contemplated by the Separation and Distribution Agreement shall not constitute a COBRA qualifying event for any
purpose of COBRA. 
 Section 6.03. Vacation, Holidays and Leaves of Absence. Effective as of no later than the Effective Time,
the SpinCo Group shall assume all Liabilities of the SpinCo Group with respect to vacation, holiday, annual leave or other leave of absence, and required payments related thereto, for each SpinCo Group Employee, unless otherwise required by
applicable Law. The Parent Group shall retain all Liabilities with respect to vacation, holiday, annual leave or other leave of absence, and required payments related thereto, for each Parent Group Employee. 

Section 6.04. Workers’ Compensation. The treatment of workers’ compensation claims shall be governed by
Section 5.1 of the Separation and Distribution Agreement. 
 Section 6.05. Insurance Contracts. To the
extent that any Welfare Plan is funded through the purchase of an insurance contract or is subject to any stop loss contract, the Parties shall cooperate and use their commercially reasonable efforts to replicate such insurance contracts for SpinCo
or Parent as applicable (except to the extent that changes are required under applicable Law or filings by the respective insurers) and to maintain any pricing discounts or other preferential terms for both Parent and SpinCo for a reasonable term.
Neither Party shall be liable for failure to obtain such insurance contracts, pricing discounts, or other preferential terms for the other Party. Each Party shall be responsible for any additional premiums, charges, or administrative fees that such
Party may incur pursuant to this Section 6.05. 

  
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 Section 6.06. Third-Party Vendors. Except as provided below, to the extent that
any Welfare Plan is administered by a third- party vendor, the Parties shall cooperate and use their commercially reasonable efforts to replicate any contract with such third-party vendor for Parent or SpinCo,
as applicable and to maintain any pricing discounts or other preferential terms for both Parent and SpinCo for a reasonable term. Neither Party shall be liable for failure to obtain such pricing discounts or other preferential terms for the other
Party. Each Party shall be responsible for any additional premiums, charges, or administrative fees that such Party may incur pursuant to this Section 6.06. 

ARTICLE VII 

MISCELLANEOUS 

Section 7.01. Preservation of Rights to Amend. Except as set forth in this Agreement, the rights of each member of the Parent
Group and each member of the SpinCo Group to amend, waive, or terminate any plan, arrangement, agreement, program, or policy referred to herein shall not be limited in any way by this Agreement. 

Section 7.02. Fiduciary Matters. Parent and SpinCo each acknowledge that actions required to be taken pursuant to this Agreement
may be subject to fiduciary duties or standards of conduct under ERISA or other applicable Law, and no Party shall be deemed to be in violation of this Agreement if it fails to comply with any provisions hereof based upon its good faith
determination (as supported by advice from counsel experienced in such matters) that to do so would violate such a fiduciary duty or standard. Each Party shall be responsible for taking such actions as are deemed necessary and appropriate to comply
with its own fiduciary responsibilities and shall fully release and indemnify the other Party for any Liabilities caused by the failure to satisfy any such responsibility. 

Section 7.03. Further Assurances. Each Party hereto shall take, or cause to be taken, any and all reasonable actions, including
the execution, acknowledgment, filing and delivery of any and all documents and instruments that any other Party hereto may reasonably request in order to effect the intent and purpose of this Agreement and the transactions contemplated hereby. 

Section 7.04. Counterparts; Entire Agreement; Corporate Power. 

(a) This Agreement may be executed in one or more counterparts, all of which shall be considered one and the same agreement, and shall become
effective when one or more counterparts have been signed by each of the Parties and delivered to the other Party. 
 (b) This Agreement, the
Separation and Distribution Agreement and the Ancillary Agreements and the Exhibits, Schedules and appendices hereto and thereto contain the entire agreement between the Parties with respect to the subject matter hereof, supersede all previous
agreements, negotiations, discussions, writings, understandings, commitments and conversations with respect to such subject matter, and there are no agreements or understandings between the Parties other than those set forth or referred to herein or
therein. This Agreement, the Separation and Distribution Agreement and the Ancillary Agreements together govern the arrangements in connection with the Separation and the Distribution and would not have been entered into independently. 

  
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 (c) Parent represents on behalf of itself and each other member of the Parent Group, and
SpinCo represents on behalf of itself and each other member of the SpinCo Group, as follows: 
 (i) each such Person has the
requisite corporate or other power and authority and has taken all corporate or other action necessary in order to execute, deliver and perform this Agreement and to consummate the transactions contemplated hereby; and 

(ii) this Agreement has been duly executed and delivered by it and constitutes a valid and binding agreement of it enforceable
in accordance with the terms hereof. 
 (d) Each Party acknowledges that it and each other Party is executing this Agreement by facsimile,
stamp or mechanical signature, and that delivery of an executed counterpart of a signature page to this Agreement (whether executed by manual, stamp or mechanical signature) by facsimile or by e-mail in
portable document format (.pdf) shall be effective as delivery of such executed counterpart of this Agreement. Each Party expressly adopts and confirms each such facsimile, stamp or mechanical signature (regardless of whether delivered in person, by
mail, by courier, by facsimile or by e-mail in portable document format (.pdf)) made in its respective name as if it were a manual signature delivered in person, agrees that it will not assert that any such
signature or delivery is not adequate to bind such Party to the same extent as if it were signed manually and delivered in person and agrees that, at the reasonable request of the other Party at any time, it will as promptly as reasonably
practicable cause this Agreement to be manually executed (any such execution to be as of the date of the initial date thereof) and delivered in person, by mail or by courier. 

Section 7.05. Governing Law. This Agreement (and any claims or disputes arising out of or related hereto or to the transactions
contemplated hereby or to the inducement of any Party to enter herein, whether for breach of contract, tortious conduct or otherwise and whether predicated on common law, statute or otherwise) shall be governed by and construed and interpreted in
accordance with the Laws of the State of Delaware, irrespective of the choice of laws principles of the State of Delaware, including all matters of validity, construction, effect, enforceability, performance and remedies. 

Section 7.06. Assignability. This Agreement shall be binding upon and inure to the benefit of the Parties and their respective
successors and permitted assigns; provided, however, that neither Party may assign its rights or delegate its obligations under this Agreement without the express prior written consent of the other Party hereto. Notwithstanding the
foregoing, no such consent shall be required for the assignment of a Party’s rights and obligations under this Agreement, the Separation and Distribution Agreement and all other Ancillary Agreements (except as may be otherwise provided in any
such Ancillary Agreement) in whole (i.e., the assignment of a Party’s rights and obligations under this Agreement and all Ancillary Agreements at the same time) in connection with a change of control of a Party so long as the resulting,
surviving or transferee Person assumes all the obligations of the relevant party thereto by operation of Law or pursuant to an agreement in form and substance reasonably satisfactory to the other Party. 

  
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 Section 7.07. Third-Party Beneficiaries. The provisions of this Agreement are
solely for the benefit of the Parties and are not intended to confer upon any Person except the Parties any rights or remedies hereunder. There are no third-party beneficiaries of this Agreement, and this Agreement shall not provide any Third Party
with any remedy, claim, Liability, reimbursement, claim of action or other right in excess of those existing without reference to this Agreement. Nothing in this Agreement is intended to amend any employee benefit plan or affect the applicable plan
sponsor’s right to amend or terminate any employee benefit plan pursuant to the terms of such plan. The provisions of this Agreement are solely for the benefit of the Parties, and no current or former Employee, officer, director, or independent
contractor or any other individual associated therewith shall be regarded for any purpose as a third-party beneficiary of this Agreement. 

Section 7.08. Notices. All notices, requests, claims, demands or other communications under this Agreement shall be in writing and
shall be given or made (and shall be deemed to have been duly given or made upon receipt) by delivery in person, by overnight courier service, by certified mail, return receipt requested or by electronic mail
(e-mail) so long as the confirmation of receipt of such e-mail is requested and received, to the respective Parties at the following addresses (or at such other address
for a Party as shall be specified in a notice given in accordance with this Section 7.08): 
 If to Parent, to: 

Ziff Davis, Inc. 
 114 Fifth
Avenue 
 New York, New York 10011 

Attention:     Legal Department 

E-mail:         legal@j2.com 

If to SpinCo (prior to the Effective Time), to: 

Consensus Cloud Solutions, Inc. 

700 South Flower Street, Suite 1500 

Los Angeles, California 90017 

Attention:     Legal Department 

E-mail:         legal@j2.com 

If to SpinCo (from and after the Effective Time), to: 

Consensus Cloud Solutions, Inc. 

700 South Flower Street, Suite 1500 

Los Angeles, California 90017 

Attention:     Legal Department 

E-mail:         vithya.aubee@j2.com 

A Party may, by notice to the other Party, change the address to which such notices are to be given or made. 

  
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 Section 7.09. Severability. If any provision of this Agreement or the
application thereof to any Person or circumstance is determined by a court of competent jurisdiction to be invalid, void or unenforceable, the remaining provisions hereof, or the application of such provision to Persons or circumstances or in
jurisdictions other than those as to which it has been held invalid or unenforceable, shall remain in full force and effect and shall in no way be affected, impaired or invalidated thereby. Upon such determination, the Parties shall negotiate in
good faith in an effort to agree upon such a suitable and equitable provision to effect the original intent of the Parties. 

Section 7.10. Force Majeure. No Party shall be deemed in default of this Agreement for any delay or failure to fulfill any
obligation (other than a payment obligation) hereunder or thereunder so long as and to the extent to which any delay or failure in the fulfillment of such obligation is prevented, frustrated, hindered or delayed as a consequence of circumstances of
Force Majeure. In the event of any such excused delay, the time for performance of such obligations (other than a payment obligation) shall be extended for a period equal to the time lost by reason of the delay. A Party claiming the benefit of this
provision shall, as soon as reasonably practicable after the occurrence of any such event, (a) provide written notice to the other Party of the nature and extent of any such Force Majeure condition; and (b) use commercially reasonable
efforts to remove any such causes and resume performance under this Agreement as soon as reasonably practicable. 
 Section 7.11.
Headings. The article, section and paragraph headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement. 

Section 7.12. Survival of Covenants. Except as expressly set forth in this Agreement, the covenants, representations and
warranties contained in this Agreement, and Liability for the breach of any obligations contained herein, shall survive the Separation and Distribution and shall remain in full force and effect. 

Section 7.13. Waivers of Default. Waiver by a Party of any default by the other Party of any provision of this Agreement shall not
be deemed a waiver by the waiving Party of any subsequent or other default, nor shall it prejudice the rights of the other Party. No failure or delay by a Party in exercising any right, power or privilege under this Agreement shall operate as a
waiver thereof, nor shall a single or partial exercise thereof prejudice any other or further exercise thereof or the exercise of any other right, power or privilege. 

Section 7.14. Dispute Resolution. The dispute resolution procedures set forth in Article VII of the Separation and Distribution
Agreement shall apply to any dispute, controversy or claim arising out of or relating to this Agreement. 
 Section 7.15. Specific
Performance. Subject to the provisions of Article VII of the Separation and Distribution Agreement, in the event of any actual or threatened default in, or breach of, any of the terms, conditions and provisions of this Agreement, the Party or
Parties who are, or are to be, thereby aggrieved shall have the right to specific performance and injunctive or other equitable relief in respect of its or their rights under this Agreement, in addition to any and all other rights and remedies at
law or in equity, and all such rights and 

  
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remedies shall be cumulative. The Parties agree that the remedies at law for any breach or threatened breach, including monetary damages, are inadequate compensation for any loss and that any
defense in any action for specific performance that a remedy at law would be adequate is waived. Any requirements for the securing or posting of any bond with such remedy are waived by each of the Parties. 

Section 7.16. Amendments. No provisions of this Agreement shall be deemed waived, amended, supplemented or modified by a Party,
unless such waiver, amendment, supplement or modification is in writing and signed by the authorized representative of the Party against whom it is sought to enforce such waiver, amendment, supplement or modification. 

Section 7.17. Interpretation. In this Agreement, (a) words in the singular shall be deemed to include the plural and vice
versa and words of one gender shall be deemed to include the other genders as the context requires; (b) the terms “hereof,” “herein,” and “herewith” and words of similar import shall, unless otherwise stated, be
construed to refer to this Agreement as a whole (including all of the Schedules, Exhibits and Appendices hereto and thereto) and not to any particular provision of this Agreement; (c) Article, Section, Schedule, Exhibit and Appendix references
are to the Articles, Sections, Schedules, Exhibits and Appendices to this Agreement, unless otherwise specified; (d) unless otherwise stated, all references to any agreement (including this Agreement) shall be deemed to include the exhibits,
schedules and annexes (including all Schedules, Exhibits and Appendixes) thereto; (e) the word “including” and words of similar import when used in this Agreement shall mean “including, without limitation,” unless otherwise
specified; (f) the word “or” shall not be exclusive; (g) unless otherwise specified in a particular case, the word “days” refers to calendar days; (h) references to “business day” shall mean any day other
than a Saturday, a Sunday or a day on which banking institutions are generally authorized or required by law to close in the United States or Los Angeles, California; (i) references herein to this Agreement or any other agreement contemplated
herein shall be deemed to refer to this Agreement or such other agreement as of the date on which it is executed and as it may be amended, modified or supplemented thereafter, unless otherwise specified; and (j) unless expressly stated to the
contrary in this Agreement, all references to “the date hereof,” “the date of this Agreement,” “hereby” and “hereupon” and words of similar import shall all be references to October 7, 2021. 

Section 7.18. Limitations of Liability. Notwithstanding anything in this Agreement to the contrary, neither SpinCo or any member
of the SpinCo Group, on the one hand, nor Parent or any member of the Parent Group, on the other hand, shall be liable under this Agreement to the other for any indirect, incidental, punitive, exemplary, remote, speculative or similar damages in
excess of compensatory damages of the other arising in connection with the transactions contemplated hereby (other than any such Liability with respect to a Third-Party Claim). 

Section 7.19. Mutual Drafting. This Agreement shall be deemed to be the joint work product of the Parties and any rule of
construction that a document shall be interpreted or construed against a drafter of such document shall not be applicable. 
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of page intentionally left blank] 

  
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 IN WITNESS WHEREOF, the Parties have caused this Employee Matters Agreement to be executed
by their duly authorized representatives as of the date first written above. 
  

					
	ZIFF DAVIS, INC.
		
	By:	 	 /s/ Jeremy Rossen

		 	Name:	 	Jeremy Rossen
		 	Title:	 	Executive Vice President, Secretary and General Counsel

  
 30 

 
					
	CONSENSUS CLOUD SOLUTIONS, INC.
		
	By:	 	 /s/ Vithya Aubee

		 	Name:	 	 Vithya Aubee

		 	Title:	 	 Vice President

  
 31

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