Document:

EX-4.1

 Exhibit 4.1 

EXECUTION VERSION 
  

 
 STOCKHOLDERS AND REGISTRATION
RIGHTS AGREEMENT 
 Dated as of December 14, 2015 
  

 

 TABLE OF CONTENTS 
  

							
	 	 	 	  	Page	 
		
	 ARTICLE I REGISTRATION
	  	 	1	  
	 1.1.
	 	 Demand Registrations
	  	 	1	  
	 1.2.
	 	 Piggyback Registrations
	  	 	4	  
	 1.3.
	 	 Shelf Registration Statement
	  	 	5	  
	 1.4.
	 	 Withdrawal Rights
	  	 	8	  
	 1.5.
	 	 Holdback Agreements
	  	 	8	  
	 1.6.
	 	 Registration Procedures
	  	 	9	  
	 1.7.
	 	 Registration Expenses
	  	 	14	  
	 1.8.
	 	 Miscellaneous
	  	 	14	  
	 1.9.
	 	 Registration Indemnification
	  	 	15	  
		
	 ARTICLE II DEFINITIONS
	  	 	17	  
	 2.1.
	 	 Defined Terms
	  	 	17	  
	 2.2.
	 	 Interpretation
	  	 	21	  
		
	 ARTICLE III MISCELLANEOUS
	  	 	22	  
	 3.1.
	 	 Term
	  	 	22	  
	 3.2.
	 	 Notices
	  	 	22	  
	 3.3.
	 	 Amendments and Waivers
	  	 	23	  
	 3.4.
	 	 Successors and Assigns and Transferees
	  	 	23	  
	 3.5.
	 	 Severability
	  	 	23	  
	 3.6.
	 	 Transfer Provisions among the Holders
	  	 	24	  
	 3.7.
	 	 Counterparts
	  	 	24	  
	 3.8.
	 	 Entire Agreement
	  	 	24	  
	 3.9.
	 	 APPLICABLE LAW; JURISDICTION OF DISPUTES
	  	 	24	  
	 3.10.
	 	 WAIVER OF JURY TRIAL
	  	 	25	  
	 3.11.
	 	 Specific Performance
	  	 	25	  
	 3.12.
	 	 No Third Party Beneficiaries
	  	 	25	  
	 3.13.
	 	 No Recourse
	  	 	25	  

  
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 STOCKHOLDERS AND REGISTRATION RIGHTS AGREEMENT, dated as of December 14, 2015 (this
“Agreement”), among Intercontinental Exchange, Inc., a Delaware corporation (the “Company”), and each of the persons whose name appears on the signature pages hereto or becomes a party hereto pursuant to
Section 3.4. 
 W I T N E S S E T H: 

WHEREAS, the Company, Interactive Data Holdings Corporation, a Delaware corporation (“IDC”), Red Merger Sub Inc., a Delaware
corporation and wholly owned subsidiary of the Company (“Merger Sub”), and the equityholders’ representative named therein have entered into an Agreement and Plan of Merger (as it may be amended from time to time, the
“Merger Agreement”) pursuant to which, among other things, Merger Sub will be merged with and into IDC (the “Merger”) with IDC continuing as the surviving company and a wholly owned subsidiary of the Company, on the
terms and subject to the conditions set forth in the Merger Agreement; 
 WHEREAS, pursuant to and subject to the terms and conditions of
the Merger Agreement, each share of outstanding common stock of IDC, par value $0.01 per share (“IDC Common Stock”) shall be converted in the Merger into (i) shares of common stock, par value $0.01 per share, of the Company
(the “Company Common Stock”) and/or (ii) cash, on the terms and subject to the conditions set forth in the Merger Agreement; 

WHEREAS, pursuant to and subject to the terms and conditions of the Merger Agreement, in connection with the Merger, the Sponsors, other
holders of IDC Common Stock and holders of options to acquire IDC Common Stock and IDC restricted stock units are expected to receive shares of Company Common Stock (the shares of Company Common Stock received by the Sponsors, other holders of IDC
Common Stock and holders of options to acquire IDC Common Stock and IDC Restricted Stock Units in the Merger, the “Shares”); and 

WHEREAS, the Company has agreed to grant the other parties hereto registration rights in respect of the Shares, on the terms and subject to
the conditions set forth herein. 
 NOW, THEREFORE, in consideration of the mutual covenants, representations, warranties and agreements
contained in this Agreement, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound hereby, the parties agree as follows: 

ARTICLE I 
 REGISTRATION 

1.1. Demand Registrations. 

(a) Subject to the terms and conditions hereof, solely during any period when the Company is not eligible under Applicable Law to register
Registrable Securities on Form S-3 pursuant to Section 1.3, any Demand Stockholders (“Requesting Stockholders”) shall be entitled to make a number of 

 
written requests of the Company (each, a “Demand”) set forth in Section 1.1(c) hereof for registration under the Securities Act of an amount of Registrable Securities then
held by such Requesting Stockholders that equals or is greater than the Registrable Amount (a “Demand Registration”). Thereupon the Company will, subject to the terms of this Agreement, use its reasonable best efforts to effect the
registration as promptly as practicable under the Securities Act of: 
 (i) the Registrable Securities which the Company has
been so requested to register by the Requesting Stockholders for disposition in accordance with the intended method of disposition stated in such Demand; 

(ii) all other Registrable Securities which the Company has been requested to register pursuant to Section 1.1(b), but
subject to Section 1.1(g); and 
 (iii) all shares of Company Common Stock which the Company may elect to register in
connection with any offering of Registrable Securities pursuant to this Section 1.1, but subject to Section 1.1(g); 
 all to the extent necessary
to permit the disposition (in accordance with the intended methods thereof) of the Registrable Securities and the additional shares of Company Common Stock, if any, to be so registered. 

(b) A Demand shall specify (i) the aggregate number of Registrable Securities requested to be registered in such Demand Registration,
(ii) the intended method of disposition in connection with such Demand Registration, to the extent then known and (iii) the identity of the Requesting Stockholder(s). Within three (3) Business Days after receipt of a Demand, the
Company shall give written notice of such Demand to all other Holders of Registrable Securities. The Company shall include in the Demand Registration covered by such Demand all Registrable Securities with respect to which the Company has received a
written request for inclusion therein from the Holder thereof within ten (10) days after the Company’s notice required by this paragraph has been given, subject to Section 1.1(g). Each such written request shall comply with the
requirements of a Demand as set forth in this Section 1.1(b). 
 (c) The Requesting Stockholders shall have the right to request only a
total of up to three (3) Demand Registrations; provided that no more than one Demand Registration may be made in any six (6)-month period. A Demand Registration shall not be deemed to have been effected and shall not count as a Demand
Registration (i) unless a registration statement with respect thereto has become effective and has remained effective for a period of at least one hundred eighty (180) days or such shorter period in which all Registrable Securities
included in such Demand Registration have actually been sold thereunder (provided that such period shall be extended for a period of time equal to the period the Holder of Registrable Securities refrains from selling any securities included in such
registration statement at the request of the Company or the lead managing underwriter(s) pursuant to the provisions of this Agreement) or (ii) if, after it has become effective, such Demand Registration becomes subject, prior to one hundred
eighty (180) days after effectiveness, to any stop order, injunction or other order or requirement of the Commission or other Governmental Authority, other than by reason of any act or omission by the applicable Selling Stockholders. 

  
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 (d) Demand Registrations shall be on such appropriate registration form of the Commission as
shall be selected by the Company and reasonably acceptable to the Requesting Stockholders. 
 (e) The Company shall not be obligated to
(i) subject to Section 1.1(c), maintain the effectiveness of a registration statement under the Securities Act filed pursuant to a Demand Registration for a period longer than one hundred eighty (180) days or (ii) effect any
Demand Registration (A) within six months of a “firm commitment” Underwritten Offering in which all Demand Stockholders were offered “piggyback” rights pursuant to Section 1.2 (subject to Section 1.2(b)) and at
least 90% of the number of Registrable Securities requested by such Requesting Stockholders to be included in such Demand Registration were included and sold or (B) within six months of the completion of any other Demand Registration
(including, for the avoidance of doubt, any Underwritten Offering pursuant to any Shelf Registration Statement). 
 (f) The Company shall be
entitled to postpone (upon written notice to the Requesting Stockholders and any other Holders whose Registrable Securities are covered by such Demand pursuant to Section 1.1(b)) the filing or the effectiveness of a registration statement for
any Demand Registration in the event of a Blackout Period until the expiration of the applicable Blackout Period. In the event of a Blackout Period, the Company shall deliver to the Requesting Stockholders requesting registration and any other
Holders whose Registrable Securities are covered by such Demand pursuant to Section 1.1(b)) a certificate signed by either the chief executive officer or the chief financial officer of the Company certifying that, in the good faith judgment of
the Company, the conditions described in the definition of Blackout Period are met. 
 (g) If, in connection with a Demand Registration or
Shelf Offering that involves an Underwritten Offering, the lead managing underwriter(s) advise(s) the Company that, in its (their) opinion, the inclusion of all of the securities sought to be registered in connection with such Demand Registration
would adversely affect the success thereof, then the Company shall include in such registration statement only such securities as the Company is advised by such lead managing underwriter(s) can be sold without such adverse effect as follows and in
the following order of priority: (i) first pro rata among the Holders (including the Sponsors, as applicable) that have requested to participate in such Demand registration based on the relative number of Registrable Securities
then held by each such Holder (provided that any Registrable Securities thereby allocated to a Holder that exceed such Holder’s request or the maximum number of Registrable Securities that may be sold by such Holder pursuant to
Section 3.6(a) shall be reallocated among the remaining requesting Holders in like manner), in each case subject to Section 3.6(a); (ii) second, securities the Company proposes to sell; and (iii) third, all other securities of
the Company duly requested to be included in such registration statement by other persons, pro rata on the basis of the amount of such other securities requested to be included or such other allocation method determined by the Company. 

(h) Any time that a Demand Registration or Shelf Offering involves an Underwritten Offering, the Holders of a majority of the Registrable
Securities then held by the Holders who have requested to participant in such Demand Offering shall select the investment banker(s) and manager(s) that will serve as managing underwriters (including which such managing underwriters will serve as
lead or co-lead) and underwriters with respect to the offering of such Registrable Securities; provided that such investment banker(s) and manager(s) shall be subject to the prior written consent of the Company, not to be unreasonably withheld,
conditioned or delayed. 

  
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 1.2. Piggyback Registrations. 

(a) Subject to the terms and conditions hereof, whenever the Company proposes to register any Company Common Stock under the Securities Act
for its own account or for the account of other persons who are not Demand Stockholders (other than a registration by the Company (i) on Form S-4 or any successor form thereto, (ii) on Form S-8 or any successor form thereto, or
(iii) pursuant to Section 1.1) (a “Piggyback Registration”), the Company shall give all Holders prompt written notice thereof (but not less than ten days prior to the filing by the Company with the Commission of any
registration statement with respect thereto). Such notice (a “Piggyback Notice”) shall specify the number of shares of Company Common Stock proposed to be registered, the proposed date of filing of such registration statement with
the Commission, the proposed means of distribution, the proposed managing underwriter(s) (if any) and a good faith estimate by the Company of the proposed minimum offering price of such shares of Company Common Stock, in each case to the extent then
known. Subject to Section 1.2(b), the Company shall include in each such Piggyback Registration all Registrable Securities held by Holders (a “Piggyback Seller”) with respect to which the Company has received written requests
(which written requests shall specify the number of Registrable Securities requested to be disposed of by such Piggyback Seller) for inclusion therein within ten (10) days after such Piggyback Notice is received by such Piggyback Seller. 

(b) If, in connection with a Piggyback Registration that involves an Underwritten Offering, the lead managing underwriter(s) advises the
Company that, in its opinion, the inclusion of all the shares of Company Common Stock sought to be included in such Piggyback Registration by (i) the Company, (ii) other Persons who have sought to have shares of Company Common Stock
registered in such Piggyback Registration pursuant to rights to demand (other than pursuant to so-called “piggyback” or other incidental or participation registration rights) such registration (such Persons being “Other Demanding
Sellers”), (iii) the Piggyback Sellers and (iv) any other proposed sellers of shares of Company Common Stock (such Persons being “Other Proposed Sellers”), as the case may be, would adversely affect the success
thereof, then the Company shall include in the registration statement applicable to such Piggyback Registration only such shares of Company Common Stock as the Company is so advised by such lead managing underwriter(s) can be sold without such an
effect, as follows and in the following order of priority: 
 (i) if the Piggyback Registration relates to an offering for
the Company’s own account, then (A) first, such number of shares of Company Common Stock to be sold by the Company as the Company, in its reasonable judgment and acting in good faith and in accordance with sound financial practice, shall
have determined, (B) second, Registrable Securities of Piggyback Sellers, pro rata based on the number of Registrable Securities then held by each such Piggyback Seller (provided that any Registrable Securities thereby allocated to a Piggyback
Seller that exceed such Piggyback Seller’s request or the maximum number of Registrable Securities that may be sold by such Piggyback Seller pursuant to Section 3.6(a) shall be reallocated among the remaining Piggyback Sellers in like
manner), in each case subject to Section 3.6(a), (C) third, shares of Company Common Stock sought to be registered by Other Demanding Sellers, pro rata on the basis of the number of shares of Company Common Stock proposed to be sold by
such Other Demanding Sellers and (D) fourth, other shares of Company Common Stock proposed to be sold by any Other Proposed Sellers; or 

  
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 (ii) if the Piggyback Registration relates to an offering other than for the
Company’s own account, then (A) first, such number of shares of Company Common Stock sought to be registered by each Other Demanding Seller pro rata in proportion to the number of securities sought to be registered by all such Other
Demanding Sellers, (B) second, Registrable Securities of Piggyback Sellers, pro rata based on the number of shares of Registrable Securities then held by each such Piggyback Seller (provided that any Registrable Securities thereby allocated to
a Piggyback Seller that exceed such Piggyback Seller’s request or the maximum number of Registrable Securities that may be sold by such Piggyback Seller pursuant to Section 3.6(a) shall be reallocated among the remaining Piggyback Sellers
in like manner), in each case subject to Section 3.6(a), (C) third, shares of Company Common Stock to be sold by the Company and (D) fourth, other shares of Company Common Stock proposed to be sold by any Other Proposed Sellers. 

(c) For clarity, in connection with any Underwritten Offering under this Section 1.2, the Company shall not be required to include the
Registrable Securities of a Piggyback Seller in the Underwritten Offering unless such Piggyback Seller accepts the terms of the underwriting as agreed upon between the Company and the lead managing underwriter(s), which shall be selected by the
Company. 
 (d) If, at any time after giving written notice of its intention to register any shares of Company Common Stock as set forth in
this Section 1.2 and prior to the time the registration statement filed in connection with such Piggyback Registration is declared effective, the Company shall determine for any reason not to register such shares of Company Common Stock, the
Company may, at its election, give written notice of such determination to the Piggyback Sellers within five (5) Business Days thereof and thereupon shall be relieved of its obligation to register any Registrable Securities in connection with
such particular withdrawn or abandoned Piggyback Registration; provided that Demand Stockholders may continue the registration as a Demand Registration pursuant to the terms of Section 1.1. 

1.3. Shelf Registration Statement. 

(a) If the Company is a well-known seasoned issuer (as defined in Rule 405 under the Securities Act) at the effective time of the Merger or
otherwise eligible to offer securities under or file with automatic effectiveness, the Company shall file, as promptly as reasonably practicable following the effective time of the Merger (which, for the avoidance of doubt, shall be within five
(5) Business Days of the effective time of the Merger), a registration statement on Form S-3 or any successor form thereto (“Form S-3”) providing for an offering to be made on a continuous basis pursuant to Rule 415 under the
Securities Act (a “Shelf Registration Statement”) in the form of an automatic shelf registration statement (as defined in Rule 405 under the Securities Act) or any successor form thereto registering all Registrable Securities then
held by the Holders and including a plan and method of distribution substantially in the form of Exhibit A hereto. If the Company is not expected to be a well-known seasoned issuer (as defined in Rule 405 under the Securities Act) immediately
following the effective time of the Merger, then, subject to the availability of a registration statement on Form S-3 to the Company, any of the Demand Stockholders may by written notice delivered to the Company (the “Shelf Notice”)
require the Company to file as soon as reasonably practicable, and to use reasonable best efforts to cause to be declared effective by the Commission as soon as reasonably practicable after 

  
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such filing date, a Shelf Registration Statement relating to the offer and sale, from time to time, of an amount of Registrable Securities then held by such Demand Stockholders that equals or is
greater than the Registrable Amount and including a plan and method of distribution substantially in the form of Exhibit A. 
 (b) Within
ten (10) days after receipt of a Shelf Notice pursuant to Section 1.3(a), the Company will deliver written notice thereof to all other Holders of Registrable Securities. Each other Holder of Registrable Securities may elect to participate
with respect to its Registrable Securities in the Shelf Registration Statement in accordance with this Agreement and the plan and method of distribution set forth in such Shelf Registration Statement by delivering to the Company a written request to
so participate within ten (10) days after the Shelf Notice is received by any such Holder of Registrable Securities. 
 (c) Subject to
Section 1.3(d), the Company will use its reasonable best efforts to keep a Shelf Registration Statement continuously effective until the earlier of (i) the date on which all Registrable Securities covered by the Shelf Registration
Statement have been sold thereunder in accordance with the plan and method of distribution disclosed in the prospectus included in the Shelf Registration Statement, or otherwise cease to be Registrable Securities; and (ii) the date on which
this Agreement terminates pursuant to Section 3.1. 
 (d) Notwithstanding anything to the contrary contained in this Agreement, the
Company shall be entitled, from time to time, by providing written notice to the Holders whose Registrable Securities are registered under the Shelf Registration Statement, to require such Holders to suspend the use of the prospectus for sales of
Registrable Securities under the Shelf Registration Statement during any Blackout Period. In the event of a Blackout Period, the Company shall deliver to such Holders a certificate signed by either the chief executive officer or the chief financial
officer of the Company certifying that, in the good faith judgment of the Company, the conditions described in the definition of Blackout Period are met. After the expiration of any Blackout Period and without any further request from a Holder of
Registrable Securities, the Company to the extent necessary shall as promptly as reasonably practicable prepare a post-effective amendment or supplement to the Shelf Registration Statement or the prospectus, or any document incorporated therein by
reference, or file any other required document so that, as thereafter delivered to purchasers of the Registrable Securities included therein, the prospectus will not include an untrue statement of a material fact or omit to state any material fact
necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading. 
 (e) At any time
that a Shelf Registration Statement is effective, if one or more Demand Stockholders deliver a notice to the Company (a “Take-Down Notice”) stating that such Demand Stockholder(s) intend to sell a Registrable Amount of Registrable
Securities on the Shelf Registration Statement in an Underwritten Offering (a “Shelf Offering”), the Company shall promptly, and in a manner reasonably agreed with such Demand Stockholder(s) amend or supplement the Shelf
Registration Statement as may be necessary in order to enable such Registrable Securities to be distributed pursuant to the Shelf Offering (taking into account, solely in connection with (x) a Non-Marketed Underwritten Shelf Offering that will
be completed prior to the one (1) year anniversary of the Closing Date or (y) a Marketed Underwritten Shelf Offering, the inclusion of Registrable Securities by any other Holders pursuant to this Section 1.3). The Demand Stockholders
shall have the right to 

  
 6 

 
request only a total of four (4) Shelf Offerings pursuant to this Section 1.3(e) and (i) any Marketed Underwritten Shelf Offering shall be subject to the provisions of 1.1(e)(ii)
as if such Underwritten Shelf Offering were a Demand Registration (provided that references therein to six months shall be deemed to refer to four months) and (ii) the Demand Stockholders cannot effect any Non-Marketed Underwritten Shelf
Offering within 30 days of any other Underwritten Shelf Offering. In connection with any Shelf Offering that is an Underwritten Offering and where the plan of distribution set forth in the applicable Take-Down Notice includes a customary “road
show” (including an “electronic road show”) or other substantial marketing effort by the Company and the underwriters (a “Marketed Underwritten Shelf Offering”) unless the Take-Down Notice is executed by or on behalf
of all the Demand Stockholders as well as all of the other Large Holders (even if all the Demand Stockholders and other Large Holders are not participating in such Marketed Underwritten Shelf Offering), the Company shall forward the Take-Down Notice
to all other Large Holders whose Registrable Securities are included on the Shelf Registration Statement and the Company and such proposing Demand Stockholder(s) shall permit each such Large Holder to include its Registrable Securities included on
the Shelf Registration Statement in the Marketed Underwritten Shelf Offering if such Large Holder notifies the proposing Demand Stockholder(s) and the Company within five (5) days after delivery of the Take-Down Notice to such Large Holder.

 In connection with any Shelf Offering that is an Underwritten Offering but is not a Marketed Underwritten Shelf Offering (a “Non-Marketed
Underwritten Shelf Offering”) and which will be completed no later than the one (1) year anniversary of the Closing Date, unless the Take-Down Notice is executed on behalf of all of the Demand Stockholders as well as all of the Large
Holders (even if all the Large Holders are not participating in such Non-Marketed Underwritten Shelf Offering) the Company shall forward the Take-Down Notice to all other Large Holders whose Registrable Securities are included on the Shelf
Registration Statement and the Company and such Demand Stockholder(s) shall permit each such Large Holder to include its Registrable Securities included on the Shelf Registration Statement in the Non-Marketed Underwritten Shelf Offering if such
Large Holder notifies the proposing Demand Stockholder(s) and the Company within whatever time period the proposing Demand Stockholders determine is required given the anticipated timing of such Non-Marketed Underwritten Shelf Offering as set forth
in the relevant Take-Down Notice. 
 (f) Except as provided in the immediately succeeding sentence, the right of the Other Holders to offer
and sell Registrable Securities registered on a Shelf Registration Statement shall be limited to sales by such Other Holders in transactions satisfying the requirements of Rule 144(f) under the Securities Act. For the avoidance of doubt, no Other
Holders will be entitled to participate in Shelf Offerings unless the Demand Stockholders determine otherwise in a written notice delivered to the Company and such Other Holders (in which case such Other Holders shall be treated the same as a Large
Holder with respect to such Shelf Offerings). 
 (g) During the period from the Closing Date until the one year anniversary of the Closing
Date, (a) without the prior written consent of each of the Demand Stockholders the Co-Invest Entity will not make any offer or sale of Registrable Securities pursuant to a Shelf Registration Statement (including any offer and sale that is not
an Underwritten Offering) unless such offer and sale pursuant to the Shelf Registration Statement has been initialed by a Demand Stockholder or Demand Stockholders and (b) in the event that one or more Demand Stockholders propose to offer and
sell any Registrable Securities pursuant to a Shelf Registration Statement then such Demand Stockholder(s) 

  
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shall provide the Co-Invest Entity an opportunity to participate in such offer and sale on a pro rata basis in proportion to its ownership of Registrable Securities and on the same terms
applicable to such Demand Stockholder(s) with any notice of such proposed offer and sale to the Co-Invest Entity and the timing of its response to participate in such offer and sale being determined by the Demand Stockholder(s) proposing such offer
and sale in light of the timing of the proposed transaction. This Section 1.3(g) is solely for the benefit of the Demand Stockholders and the Co-Invest Entity. 

(h) For the avoidance of doubt, any Shelf Offering will be subject to Sections 1.1(g) and (h). 

1.4. Withdrawal Rights. Any Demand Stockholder having notified or directed the Company to include any or all of its Registrable
Securities in a registration statement under the Securities Act shall have the right to withdraw any such notice or direction with respect to any or all of the Registrable Securities designated by it for registration by giving written notice to such
effect to the Company prior to the effective date of such registration statement. In the event of any such withdrawal, the Company shall not include such Registrable Securities in the applicable registration and such Registrable Securities shall
continue to be Registrable Securities for all purposes of this Agreement (subject to the other terms and conditions of this Agreement). No such withdrawal shall affect the obligations of the Company with respect to the Registrable Securities not so
withdrawn if any other Demand Holder has requested that Registrable Securities be included in such registration; provided, however, that in the case of a Demand Registration, if such withdrawal shall reduce the number of Registrable Securities
sought to be included in such registration below the Registrable Amount, then the Company shall as promptly as practicable give each Demand Stockholder seeking to register Registrable Securities notice to such effect and, within ten (10) days
following the mailing of such notice, such Demand Stockholders still seeking registration shall, by written notice to the Company, elect to register additional Registrable Securities to satisfy the Registrable Amount or elect that such registration
statement not be filed or, if theretofore filed, be withdrawn. During such ten (10) day period, the Company shall not file such registration statement if not theretofore filed or, if such registration statement has been theretofore filed, the
Company shall not seek, and shall use reasonable best efforts to prevent, the effectiveness thereof. 
 1.5. Holdback Agreements.
(a) In connection with any Underwritten Offering in which a Holder participates pursuant to Section 1.2, each such Holder agrees to enter into customary agreements, including such customary carve-outs and limitations as any such Holder may
reasonably request, restricting the public sale or distribution of equity securities of the Company (including sales pursuant to Rule 144 under the Securities Act) to the extent required in writing by the lead managing underwriter(s) with respect to
an applicable Underwritten Offering during the period commencing on the date of the “pricing” of such Underwritten Offering) and continuing for not more than the lesser of (i) the period to which the Company (subject to customary
carve-outs and limitations) is restricted and (ii) sixty (60) days after the date of the “final” prospectus (or “final” prospectus supplement if the Underwritten Offering is made pursuant to a Shelf Registration
Statement), pursuant to which such Underwritten Offering shall be made, or such other period as is required by the lead managing underwriter(s). Any discretionary waiver or termination of the requirements under the foregoing provisions made by the
Company or applicable lead managing underwriter(s) shall apply to each Holder on a pro rata basis. 

  
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 (b) If any Demand Registration involves an Underwritten Offering or in the event of a Marketed
Underwritten Shelf Offering, the Company will not effect any public sale or distribution of any common equity (or securities convertible into or exchangeable or exercisable for common equity) (other than a registration statement on Form S-4, Form
S-8 or any successor forms thereto) for its own account, within sixty (60) days, after the date of such Underwritten Offering or Marketed Underwritten Shelf Offering, as applicable, except as may otherwise be agreed between the Company and the
lead managing underwriter(s) of such Underwritten Offering or Marketed Underwritten Shelf Offering, as applicable. 
 1.6. Registration
Procedures. 
 (a) If and whenever the Company is required to use reasonable best efforts to effect the registration of any Registrable
Securities under the Securities Act as provided in Section 1.1, Section 1.2 or Section 1.3, the Company shall as expeditiously as reasonably practicable: 

(i) prepare and file with the Commission a registration statement to effect such registration in accordance with the intended
method or methods of distribution of such securities and thereafter use reasonable best efforts to cause such registration statement to become and remain effective pursuant to the terms of this Article I; provided, however, that the Company may
discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; provided, further, that before filing such registration statement or any
amendments thereto, the Company will furnish to the Holders which are including Registrable Securities in such registration (“Selling Stockholders”), their counsel and the lead managing underwriter(s) and their counsel, if any,
copies of all such documents proposed to be filed, which documents will be subject to the review and reasonable comment of such counsel, and other documents reasonably requested by such counsel, including any comment letter from the Commission, and,
if requested by such counsel, provide such counsel a reasonable opportunity to participate in the preparation of such registration statement and each prospectus included therein. The Company shall not file any such registration statement or
prospectus or any amendments or supplements thereto with respect to a Demand Registration to which the Holders of a majority of Registrable Securities held by the Selling Stockholder(s), their counsel or the lead managing underwriter(s), if any,
shall reasonably object, in writing, on a timely basis, unless, in the opinion of the Company, such filing is necessary to comply with Applicable Law; 

(ii) prepare and file with the Commission such amendments and supplements to such registration statement and the prospectus
used in connection therewith as may be necessary to keep such registration statement effective pursuant to the terms of this Article I, and comply with the provisions of the Securities Act with respect to the disposition of all securities covered by
such registration statement; 
 (iii) if requested by the lead managing underwriter(s), if any, or the Holders of a majority
of the then outstanding Registrable Securities being sold in connection with an Underwritten Offering, promptly include in a prospectus supplement or post-effective amendment such information as the lead managing underwriter(s), if any, and such
holders may reasonably request in order to permit the intended method of distribution of such securities and 

  
 9 

 
make all required filings of such prospectus supplement or such post-effective amendment as soon as reasonably practicable after the Company has received such request; provided, however, that the
Company shall not be required to take any actions under this Section 1.6(a)(iii) that are not, in the opinion of counsel for the Company, in compliance with Applicable Law; 

(iv) furnish to the Selling Stockholders and each underwriter, if any, of the securities being sold by such Selling
Stockholders such number of conformed copies of such registration statement and of each amendment and supplement thereto, such number of copies of the prospectus contained in such registration statement (including each preliminary prospectus and any
summary prospectus) and each free writing prospectus (as defined in Rule 405 of the Securities Act) (a “Free Writing Prospectus”) utilized in connection therewith and any other prospectus filed under Rule 424 under the Securities
Act, in conformity with the requirements of the Securities Act, and such other documents as such Selling Stockholders and underwriter, if any, may reasonably request in order to facilitate the public sale or other disposition of the Registrable
Securities owned by such Selling Stockholders; 
 (v) use reasonable best efforts to register or qualify or cooperate with
the Selling Stockholders, the underwriters, if any, and their respective counsel in connection with the registration or qualification (or exemption from such registration or qualification) of such Registrable Securities covered by such registration
statement under such other securities laws or “blue sky” laws of such jurisdictions as the Selling Stockholders and any underwriter of the securities being sold by such Selling Stockholders shall reasonably request, and to keep each such
registration or qualification (or exemption therefrom) effective during the period such registration statement is required to be kept effective and take any other action which may be necessary or reasonably advisable to enable such Selling
Stockholders and underwriters to consummate the disposition in such jurisdictions of the Registrable Securities owned by such Selling Stockholders, except that the Company shall not for any such purpose be required to (A) qualify generally to
do business as a foreign corporation in any jurisdiction wherein it would not but for the requirements of this clause (v) be obligated to be so qualified, (B) subject itself to taxation in any such jurisdiction or (C) file a general
consent to service of process in any such jurisdiction; 
 (vi) use reasonable best efforts to cause such Registrable
Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if no such securities are so listed, use reasonable best efforts to cause such Registrable Securities to be listed on the New
York Stock Exchange or the NASDAQ Stock Market; 
 (vii) use reasonable best efforts to cause such Registrable Securities
covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be reasonably necessary to enable the Selling Stockholder(s) thereof to consummate the disposition of such Registrable
Securities; 
 (viii) use reasonable best efforts to provide and cause to be maintained a transfer agent and registrar for
all Registrable Securities covered by such registration statement from and after a date not later than the effective date of such registration statement; 

  
 10 

 (ix) in an Underwritten Offering, enter into an underwriting agreement in form,
scope and substance as is customary in underwritten offerings and in connection therewith, (A) make representations and warranties to the Holders of such Registrable Securities and the underwriters, if any, with respect to the business of the
Company and its subsidiaries, and the registration statement, prospectus and documents, if any, incorporated or deemed to be incorporated by reference therein, in each case, in form, substance and scope as are customarily made by issuers in
underwritten offerings, and, if true, confirm the same if and when requested, (B) include in the underwriting agreement indemnification provisions and procedures substantially to the effect set forth in Section 1.9 hereof with respect to
all parties to be indemnified pursuant to said Section except as otherwise agreed by the Holders of a majority of the Registrable Securities being sold and (C) deliver such documents and certificates as are reasonably requested by the Holders
of a majority of the Registrable Securities being sold, their counsel and the lead managing underwriters(s), if any, to evidence the continued validity of the representations and warranties made pursuant to sub-clause (A) above and to evidence
compliance with any customary conditions contained in the underwriting agreement. The above shall be done at each closing under such underwriting agreement, or as and to the extent required thereunder; 

(x) in connection with an Underwritten Offering, use reasonable best efforts to obtain for the Selling Stockholders and
underwriter(s) (A) opinions of counsel for the Company, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Selling Stockholders and underwriters
and (B) “comfort” letters and updates thereof (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in Statement on Auditing Standards No. 72, an
“agreed upon procedures” letter) signed by the independent public accountants who have certified the Company’s financial statements and, to the extent required, any other financial statements included in such registration statement,
covering the matters customarily covered in “comfort” letters in connection with underwritten offerings; 
 (xi)
make available for inspection by the Selling Stockholders, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained in connection with such
offering by such Selling Stockholders or underwriter (collectively, the “Inspectors”), such financial and other records, pertinent corporate documents and instruments of the Company (collectively, the “Records”), as
shall be reasonably necessary, or as shall otherwise be reasonably requested, to enable them to exercise their due diligence responsibility, and cause the officers, directors and employees of the Company and its subsidiaries (and use its reasonable
best efforts to cause its auditors) to participate in customary due diligence calls and to supply all information in each case reasonably requested by any such representative, underwriter, attorney, agent or accountant in connection with such
registration statement; provided, however, that the Company shall not be required to provide any information under this clause (xi) if (A) the Company believes, after consultation with counsel for the Company, that to do so would cause the
Company to forfeit an attorney-client privilege that was applicable to such information or (B) if either (1) the Company has requested and been granted from the Commission confidential treatment of such information contained in any filing
with the Commission or 

  
 11 

 
documents provided supplementally or otherwise or (2) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing; unless
prior to furnishing any such information with respect to clause (1) or (2) such Selling Stockholder requesting such information enters into, and causes each of its Inspectors to enter into, a confidentiality agreement on terms and
conditions reasonably acceptable to the Company; provided, further, that each Selling Stockholder agrees that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction or by another Governmental Authority,
give notice to the Company and allow the Company, at its expense, to undertake appropriate action seeking to prevent disclosure of the Records deemed confidential; 

(xii) as promptly as practicable notify in writing the Selling Stockholder and the underwriters, if any, of the following
events: (A) the filing of the registration statement, any amendment thereto, the prospectus or any prospectus supplement related thereto or post-effective amendment to the registration statement or any Free Writing Prospectus utilized in
connection therewith, and, with respect to the registration statement or any post-effective amendment thereto, when the same has become effective; (B) any request by the Commission or any other U.S. or state governmental authority for
amendments or supplements to the registration statement or the prospectus or for additional information; (C) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any
proceedings by any Person for that purpose; (D) the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or “blue sky” laws of any
jurisdiction or the initiation or threat of any proceeding for such purpose; (E) if at any time the representations and warranties of the Company contained in any underwriting agreement contemplated by Section 1.6(a)(ix) cease to be true
and correct in any material respect; and (F) subject to the provisions of this Agreement relating to a Blackout Period, upon the happening of any event that makes any statement made in such registration statement or related prospectus or any
document incorporated or deemed to be incorporated therein by reference untrue in any material respect or that requires the making of any changes in such registration statement, prospectus or documents so that, in the case of the registration
statement, it will not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein not misleading, and that in the case of the prospectus, it will not
contain any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading, and, at the request of any Selling
Stockholder, promptly prepare and furnish to such Selling Stockholder a reasonable number of copies of a supplement to or an amendment of such registration statement or prospectus as may be necessary so that, as thereafter delivered to the
purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein, in light of the
circumstances under which they were made, not misleading; 
 (xiii) use reasonable best efforts to obtain the withdrawal of
any order suspending the effectiveness of such registration statement, or the lifting of any suspension of the qualification (or exemption from qualification) of any of the Registrable Securities for sale in any jurisdiction at the earliest
reasonably practicable date, except that, subject to the requirements of Section 1.6(a)(v), the Company shall not for any such purpose be required to (A) qualify 

  
 12 

 
generally to do business as a foreign corporation in any jurisdiction wherein it would not but for the requirements of this clause (xiii) be obligated to be so qualified, (B) subject
itself to taxation in any such jurisdiction or (C) file a general consent to service of process in any such jurisdiction; 

(xiv) cooperate with the Selling Stockholders and the lead managing underwriter(s) to facilitate the timely preparation and
delivery of certificates (which shall not bear any restrictive legends unless required under Applicable Law) representing securities sold under any registration statement, and enable such securities to be in such denominations and registered in such
names as the lead managing underwriter(s) or such Selling Stockholders may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates;

 (xv) cooperate with each seller of Registrable Securities and each underwriter or agent participating in the disposition
of such Registrable Securities and their respective counsel in connection with any filings required to be made with FINRA; and 

(xvi) have appropriate officers of the Company prepare and make presentations at a reasonable number of “road shows”
and before analysts, as the case may be, and other information meetings reasonably organized by the underwriters and otherwise use its reasonable best efforts to cooperate as reasonably requested by the Selling Stockholders and the underwriters in
the offering, marketing or selling of the Registrable Securities. 
 (b) The Company may require each Selling Stockholder and each
underwriter, if any, to furnish the Company in writing such information regarding each Selling Stockholder or underwriter and the distribution of such Registrable Securities as the Company may from time to time reasonably request in writing to
complete or amend the information required by such registration statement. 
 (c) Each Selling Stockholder agrees that upon receipt of any
notice from the Company of the happening of any event of the kind described in clauses (B), (C), (D), (E) and (F) of Section 1.6(a)(xii), such Selling Stockholder shall forthwith discontinue such Selling Stockholder’s disposition
of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto until such Selling Stockholder’s receipt of the copies of the supplemented or amended prospectus contemplated by
Section 1.6(a)(xii), or until it is advised in writing by the Company that the use of the applicable prospectus may be resumed, and has received copies of any additional or supplemental filings that are incorporated or deemed to be incorporated
by reference in such prospectus; provided, however, that the Company shall extend the time periods under Section 1.1(c) with respect to the length of time that the effectiveness of a registration statement must be maintained by the amount of
time the Holder is required to discontinue disposition of such securities. 
 (d) With a view to making available to the Holders the
benefits of Rule 144 under the Securities Act and any other rule or regulation of the Commission that may at any time permit a holder to sell securities of the Company to the public without registration or pursuant to a registration on Form S-3 (or
any successor form), the Company shall: 
 (i) use reasonable best efforts to make and keep public information available, as
those terms are understood and defined in Rule 144 under the Securities Act; 

  
 13 

 (ii) use reasonable best efforts to file with the Commission in a timely manner
all reports and other documents required of the Company under the Exchange Act, at any time when the Company is subject to such reporting requirements; 

(iii) furnish to any Holder, promptly upon request, a written statement by the Company as to its compliance with the reporting
requirements of Rule 144 under the Securities Act and of the Exchange Act, a copy of the most recent annual or quarterly report of the Company, and such other reports and documents so filed or furnished by the Company with the Commission as such
Holder may reasonably request in connection with the sale of Registrable Securities without registration (in each case to the extent not readily publicly available); and 

(iv) otherwise provide such Holder with such customary assistance as is reasonably requested. 

1.7. Registration Expenses. All fees and expenses incident to the Company’s performance of its obligations under this Article I,
including (a) all registration and filing fees, including all fees and expenses of compliance with securities and “blue sky” laws (including the reasonable and documented fees and disbursements of counsel for the underwriters in
connection with “blue sky” qualifications of the Registrable Securities pursuant to Section 1.6(a)(v)) and all fees and expenses associated with filings required to be made with FINRA (including, if applicable, the fees and expenses
of any “qualified independent underwriter” as such term is defined in FINRA Rule 5121), (b) all printing (including expenses of printing certificates for the Registrable Securities in a form eligible for deposit with the Depository
Trust Company and of printing prospectuses if the printing of prospectuses is requested by a Demand Stockholder) and copying expenses, (c) all messenger, telephone and delivery expenses, (d) all fees and expenses of the Company’s
independent certified public accountants and counsel (including with respect to “comfort” letters and opinions), (e) expenses of the Company incurred in connection with any “road show” and (f) reasonable and documented
fees and disbursements of one counsel for all Holders whose Registrable Securities are included in a registration statement, which counsel shall be selected by the Holders of a majority of the Registrable Securities being sold in connection
therewith, shall be borne solely by the Company whether or not any registration statement is filed or becomes effective. In connection with the Company’s performance of its obligations under this Article I, the Company will pay its internal
expenses (including all salaries and expenses of its officers and employees performing legal or accounting duties and the expense of any annual audit) and the expenses and fees for listing the securities to be registered on each securities exchange
and included in each established over-the-counter market on which similar securities issued by the Company are then listed or traded. Each Selling Stockholder shall pay its portion of all underwriting discounts and commissions and transfer taxes, if
any, relating to the sale of such Selling Stockholder’s Registrable Securities pursuant to any registration. 
 1.8.
Miscellaneous. 
 (a) Not less than five (5) Business Days before the expected filing date of each registration statement
pursuant to this Agreement, the Company shall notify each Holder of Registrable Securities 

  
 14 

 
who has timely provided the requisite notice hereunder entitling such holder to register Registrable Securities in such registration statement of the information, documents and instruments from
such holder that the Company or any underwriter reasonably requests in connection with such registration statement, including, to the extent applicable, a questionnaire, custody agreement, power of attorney, lock-up letter (not to exceed a 60 days
lock-up period) and underwriting agreement (the “Requested Information”). If the Company has not received, on or before the second Business Day before the expected filing date, the Requested Information from such holder, the Company
may file the registration statement without including Registrable Securities of such holder. The failure to so include in any registration statement the Registrable Securities of a holder of Registrable Securities (with regard to that registration
statement) shall not result in any liability on the part of the Company to such Holder. 
 (b) The Company shall not grant any demand,
piggyback or shelf registration rights, the terms of which are senior to or conflict with the rights granted to the Holders of Registrable Securities hereunder to any other Person, or enter into any other agreements that conflict with the rights
granted to the Holders of Registrable Securities under this Agreement (except to the extent contemplated under the definition of “Blackout Period”), without the prior written consent of Demand Stockholders holding a majority of the
Registrable Securities then held by all Demand Stockholders. 
 (c) The Company will cooperate with the Holders and the managing
underwriter(s), if any, to facilitate the timely preparation and delivery of certificates or book entries (which, in either case, shall not bear any restrictive legends) representing Shares to be sold by any Holder pursuant to any registration
statement or sold pursuant to Rule 144 under the Securities Act, and enable such shares to be in such denominations and registered in such names as the selling Holders or managing underwriter(s) may request. 

1.9. Registration Indemnification. 

(a) The Company agrees, without limitation as to time, to indemnify and hold harmless, to the fullest extent permitted by Law, each Selling
Stockholder and its Affiliates and their respective officers, directors, members, shareholders, employees, managers, partners and agents and each Person who controls (within the meaning of Section 15 of the Securities Act and Section 20 of
the Exchange Act) such Selling Stockholder or such other indemnified Person and the officers, directors, members, shareholders, employees, managers, partners, accountants, attorneys and agents of each such controlling Person, from and against all
losses, claims, damages, liabilities, costs, expenses (including reasonable expenses of investigation and reasonable attorneys’ fees and expenses) and amounts paid in settlement (collectively, the “Losses”), as incurred,
arising out of, caused by, resulting from or relating to any untrue statement (or alleged untrue statement) of a material fact contained in any registration statement, prospectus or preliminary prospectus or Free Writing Prospectus or any amendment
or supplement thereto or any omission (or alleged omission) of a material fact required to be stated therein or necessary to make the statements therein (in the case of a prospectus, preliminary prospectus, Free Writing Prospectus or any amendment
or supplement thereto, in light of the circumstances under which they were made) not misleading, except insofar as the same are caused by any information furnished in writing to the Company by any Selling Stockholder expressly for use therein. 

  
 15 

 (b) In connection with any registration statement in which a Selling Stockholder is
participating, without limitation as to time, each such Selling Stockholder shall, severally and not jointly, indemnify the Company, its directors, officers, stockholders, employees, managers, partners and agents, and each Person who controls
(within the meaning of Section 15 of the Securities Act and Section 20 of the Exchange Act) the Company, from and against all Losses, as incurred, arising out of, caused by, resulting from or relating to any untrue statement (or alleged
untrue statement) of material fact contained in the registration statement, prospectus or preliminary prospectus or Free Writing Prospectus or any amendment or supplement thereto or any omission (or alleged omission) of a material fact required to
be stated therein or necessary to make the statements therein (in the case of a prospectus, preliminary prospectus, Free Writing Prospectus or any amendment or supplement thereto, in light of the circumstances under which they were made) not
misleading, in each case solely to the extent, but only to the extent, that such untrue statement or omission is made in such registration statement, prospectus or preliminary prospectus or Free Writing Prospectus or any amendment or supplement
thereto in reliance upon and in conformity with written information regarding such Selling Stockholder furnished to the Company by such Selling Stockholder expressly for inclusion in such registration statement, prospectus or preliminary prospectus
or Free Writing Prospectus or any amendment or supplement thereto. Notwithstanding the foregoing, no Selling Stockholder shall be liable under this Section 1.9(b) for amounts in excess of the net proceeds received by such holder in the offering
giving rise to such liability. 
 (c) Any Person entitled to indemnification hereunder shall give prompt written notice to the indemnifying
party of any claim with respect to which it seeks indemnification; provided, however, the failure to give such notice shall not release the indemnifying party from its obligation, except to the extent that the indemnifying party has been actually
and materially prejudiced by such failure to provide such notice on a timely basis. 
 (d) In any case in which any such action is brought
against any indemnified party, and it notifies an indemnifying party of the commencement thereof, the indemnifying party will be entitled to participate therein, and, to the extent that it may wish, to assume the defense thereof, with counsel
reasonably satisfactory to such indemnified party, and after notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof and acknowledging the obligations of the indemnifying party with respect to
such proceeding, the indemnifying party will not (so long as it shall continue to have the right to defend, contest, litigate and settle the matter in question in accordance with this paragraph) be liable to such indemnified party hereunder for any
legal or other expense subsequently incurred by such indemnified party in connection with the defense thereof (unless (i) such indemnified party reasonably objects to such assumption on the grounds that there are defenses available to it which
are different from or in addition to the defenses available to such indemnifying party and, as a result, a conflict of interest exists or (ii) the indemnifying party shall have failed within a reasonable period of time to assume such defense
and the indemnified party is or would reasonably be expected to be materially prejudiced by such delay, in either of which events the indemnified party shall be promptly reimbursed by the indemnifying party for the reasonable fees and expenses
incurred in connection with retaining one separate legal counsel (for the avoidance of doubt, for all indemnified parties in connection therewith)). For the avoidance of doubt, notwithstanding any such assumption by an indemnifying party, the
indemnified party shall have the right to employ separate counsel in any such matter and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such indemnified party except as provided in the
previous 

  
 16 

 
sentence. An indemnifying party shall not be liable for any settlement of an action or claim effected without its consent (which consent shall not be unreasonably withheld, conditioned or
delayed). No matter shall be settled by an indemnifying party without the consent of the indemnified party (which consent shall not be unreasonably withheld, conditioned or delayed), unless such settlement (x) includes as an unconditional term
thereof the giving by the claimant or plaintiff to such indemnified party of a release from all liability in respect to such claim or litigation, (y) does not include any statement as to or any admission of fault, culpability or a failure to
act by or on behalf of any indemnified party and (z) is settled solely for cash for which the indemnified party would be entitled to indemnification hereunder. 

(e) The indemnification provided for under this Agreement shall survive the sale of the Registrable Securities and the termination of this
Agreement. 
 (f) If recovery is not available under the foregoing indemnification provisions for any reason or reasons other than as
specified therein, any Person who would otherwise be entitled to indemnification by the terms thereof shall nevertheless be entitled to contribution with respect to any Losses with respect to which such Person would be entitled to such
indemnification but for such reason or reasons, in such proportion as is appropriate to reflect the relative fault of the indemnifying party, on the one hand, and such indemnified party, on the other hand, in connection with the actions, statements
or omissions that resulted in such Losses as well as any other relevant equitable considerations. The relative fault of the indemnifying party and of the indemnified party shall be determined by reference to, among other things, whether the untrue
or alleged untrue statement of a material fact or the omission to state a material fact relates to information supplied by the indemnifying party or by the indemnified party, the Persons’ relative knowledge and access to information concerning
the matter with respect to which the claim was asserted, the opportunity to correct and prevent any statement or omission, and other equitable considerations appropriate under the circumstances. It is hereby agreed that it would not necessarily be
equitable if the amount of such contribution were determined by pro rata or per capita allocation. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution
from any Person who was not found guilty of such fraudulent misrepresentation. Notwithstanding the foregoing, no Selling Stockholder shall be required to make a contribution in excess of the net proceeds received by such Selling Stockholder from its
sale of Registrable Securities in connection with the offering that gave rise to the contribution obligation. 
 ARTICLE II 

DEFINITIONS 
 2.1. Defined
Terms. Capitalized terms when used in this Agreement have the following meanings: 
 “Affiliate” means, (a) any
other Person which directly or indirectly through one or more intermediaries controls, or is controlled by, or is under common control with, such specified Person (for the purposes of this definition, “control” (including, with correlative
meanings, the terms “controlling,” “controlled by” and “under common control with”), as used with respect to any Person, means the possession, directly or indirectly, of the power to direct or cause the direction of the

  
 17 

 
management or policies of such Person, whether through the ownership of voting securities, by agreement or otherwise), (b) for the avoidance of doubt, if such specified Person is an
investment fund, any other investment fund, the primary investment advisor to which is the primary investment advisor to such specified Person or an Affiliate thereof, and (c) if such specified Person is a natural Person, any family member of
such natural Person. “Controlled” and “controlling” shall be construed accordingly. Notwithstanding the foregoing, for all purposes of this Agreement, in no event shall an Affiliate of any Sponsor include any “portfolio
company” (as such term is customarily used among institutional investors) of any Sponsor. 
 “Agreement” has the
meaning set forth in the preamble. 
 “Applicable Law” means, with respect to any Person, any Law applicable to such
Person, its assets, properties, operations or business. 
 “Beneficial Owner” or “Beneficially Own” has
the meaning assigned to such term in Rule 13d-3 under the Exchange Act, and a Person’s beneficial ownership of securities shall be calculated in accordance with the provisions of such Rule (in each case, irrespective of whether or not such Rule
is actually applicable in such circumstance). 
 “Blackout Period” means in the event that the Board of Directors of the
Company determines in good faith that the registration or sale of Registrable Securities would reasonably be expected to materially adversely affect or materially interfere with any bona fide material financing of the Company or any material
transaction under consideration by the Company or would require disclosure of information that has not been, and is not otherwise required to be, disclosed to the public, the premature disclosure of which would materially adversely affect the
Company, a period of up to 60 days; provided that a Blackout Period may not occur more than twice in any period of 12 consecutive months and no more than 60 days in a 180 day period. 

“Business Day” means a day on which banks are generally open for normal business in New York, New York, which day is not a
Saturday or a Sunday. 
 “Closing Date” has the meaning set forth in the Merger Agreement. 

“Co-Invest Entity” means Igloo Co-Invest, LLC, a Delaware limited liability company. 

“Commission” means the Securities and Exchange Commission or any other federal agency administering the Securities Act. 

“Company” has the meaning set forth in the preamble. 

“Company Common Stock” has the meaning set forth in the recitals. 

“Demand” has the meaning set forth in Section 1.1(a). 

“Demand Registration” has the meaning set forth in Section 1.1(a). 

“Demand Stockholder” means any Sponsor that holds Registrable Securities. 

  
 18 

 “Exchange Act” means the Securities Exchange Act of 1934, as amended, and the
rules and regulations promulgated thereunder. 
 “Form S-3” has the meaning set forth in Section 1.3(a). 

“Free Writing Prospectus” has the meaning set forth in Section 1.6(a)(iv). 

“Governmental Authority” means any court, administrative agency or commission or other governmental authority or
instrumentality, domestic or foreign, or applicable exchange or self-regulatory organization, including FINRA. 
 “Holder”
means each holder of Registrable Securities that is a party to this Agreement. 
 “Inspectors” has the meaning set forth in
Section 1.6(a)(xi). 
 “Large Holder” means (i) each of the Demand Stockholders and (ii) the Co-Invest
Entity. 
 “Law” means any federal, state, provincial, local, municipal, foreign, international, multinational or other
order, judgment, decree, constitution, law, ordinance, regulation, statute, treaty, code, rule, by-law, writ, injunction, decision, arbitration award, franchise, license, agency requirement, permit or other award of any Governmental Authority, or
any policy, guideline, notice or protocol, in each case, to the extent that it has the force of law. 
 “Losses” has the
meaning set forth in Section 1.9(a). 
 “Marketed Underwritten Shelf Offering” has the meaning set forth in
Section 1.3(e). 
 “Merger Agreement” has the meaning set forth in the recitals. 

“Non-Marketed Underwritten Shelf Offering” has the meaning set forth in Section 1.3(e). 

“Other Demanding Sellers” has the meaning set forth in Section 1.2(b). 

“Other Holder” means each Holder other than the Demand Holders and the Co-Invest Entity. 

“Other Proposed Sellers” has the meaning set forth in Section 1.2(b). 

“Permitted Transferee” means, with (a) respect to any Holder that is not an individual, any Affiliate of such Holder
that executes a joinder hereto in accordance with Section 3.4 and (b) with respect to any individual. (i) his or her spouse and his or her lineal descendants (including children by adoption and stepchildren), (ii) any trust or
custodianship, the beneficiaries of which include only such Holder and/or the Persons described in the immediate foregoing clause (i), (iii) any limited liability company or partnership (A) with respect to which all of the outstanding
equity interests are beneficially owned solely by such Holder and/or his or her spouse and his or her lineal descendants (including children by adoption and step children) and (B) with respect to which such Holder is the sole manager or
managing member (if a limited liability company) or the sole general partner (if a limited partnership) and otherwise has the sole power to direct or cause the direction of the 

  
 19 

 
management and policies, directly or indirectly, of such limited liability company or partnership, whether through the ownership of voting securities, by contract or otherwise and, upon the death
of such Holder, his or her executors, administrators, testamentary trustees, legatees or beneficiaries. 
 “Person” means
any natural person or any corporation, partnership, limited liability company, association, trust or other entity or organization, including any Governmental Authority. 

“Piggyback Notice” has the meaning set forth in Section 1.2(a). 

“Piggyback Registration” has the meaning set forth in Section 1.2(a). 

“Piggyback Seller” has the meaning set forth in Section 1.2(a). 

“Records” has the meaning set forth in Section 1.6(a)(xi). 

“Registrable Amount” means an amount of Registrable Securities having an aggregate value of at least $75 million (based on
the anticipated offering price (as reasonably determined in good faith by the Company)), without regard to any underwriting discount or commission. 

“Registrable Securities” means the Shares and any shares of Company Common Stock received in respect of the Shares in
connection with any stock split or subdivision, stock dividend, distribution or similar transaction; provided that any such Shares shall cease to be Registrable Securities upon the earliest of (i) when they are sold by a Holder pursuant to an
effective registration statement under the Securities Act, (ii) when they have been sold by a Holder pursuant to Rule 144 under the Securities Act, (iii) when they shall have ceased to be outstanding, (iv) in the case of Other Holders
only, when they may be sold pursuant to Rule 144 under the Securities Act; and (v) in the case of Large Holders only, on the later of (x) the eighteen (18) month anniversary of the Closing Date and (y) when they can be sold
by such Large Holders pursuant to Rule 144 under the Securities Act without restriction on the basis of volume limitations. 

“Requested Information” has the meaning set forth in Section 1.8(a). 

“Requesting Stockholders” has the meaning set forth in Section 1.1(a). 

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

“Selling Stockholders” has the meaning set forth in Section 1.6(a)(i). 

“Shares” has the meaning set forth in the recitals. 

“Shelf Notice” has the meaning set forth in Section 1.3(a). 

“Shelf Offering” has the meaning set forth in Section 1.3(e). 

“Shelf Registration Statement” has the meaning set forth in Section 1.3(a). 

  
 20 

 “Sponsors” means (a) each of the Persons who is identified as a
“Sponsor” on the signature pages hereto, (b) any Permitted Transferee of any of the Persons referenced in clause (a) to which Shares are transferred by such Person referenced in clause (a) and that becomes a party hereto
pursuant to Section 3.4 and (c) any Permitted Transferee of any of the Persons included in clause (b) of this definition to which Shares are transferred by such Person and that becomes a party hereto pursuant to Section 3.4.

 “Take-Down Notice” has the meaning set forth in Section 1.3(e). 

“Transfer” means any direct or indirect sale, assignment, encumbrance, pledge, hypothecation, disposition, loan or other
transfer, or entry into any Agreement with respect to any sale, assignment, encumbrance, pledge, hypothecation, disposition, loan or other transfer, excluding (a) entry into this Agreement and the Merger Agreement and the consummation of the
transactions contemplated hereby and thereby. (b) any transfer which may otherwise be deemed to have occurred as a result of Permissible Group Activities. 

“Underwritten Offering” means a sale of securities of the Company to an underwriter or underwriters for reoffering to the
public. 
 2.2. Interpretation. Whenever used herein, the words “include,” “includes” and “including”
shall be deemed to be followed by the phrase “without limitation”, and the words “hereof” and “herein” and similar words shall be construed as references to this Agreement as a whole and not limited to the particular
Article, Section, Annex, Exhibit or Schedule in which the reference appears. Unless the context otherwise requires, references herein: (x) to Articles, Sections, Annexes, Exhibits and Schedules mean the Articles, Sections and Annexes of, and
Exhibits and Schedules attached to, this Agreement; (y) to an agreement, instrument or other document means such agreement, instrument or other document as amended, supplemented and modified from time to time to the extent permitted by the
provisions thereof; and (z) to a statute means such statute as amended from time to time and includes any successor legislation thereto and any regulations promulgated thereunder. References to “$” or “dollars” means United
States dollars. Any reference in this Agreement to any gender shall include all genders. The meanings of defined terms are equally applicable to the singular and plural forms of the defined terms. The Annexes, and Schedules referred to herein shall
be construed with, and as an integral part of, this Agreement to the same extent as if they were set forth verbatim herein. The headings of the Articles and Sections are for convenience of reference only and do not affect the interpretation of any
of the provisions hereof. If, and as often as, there is any change in the outstanding shares of Company Common Stock by reason of stock dividends, splits, reverse splits, spin-offs, split-ups, mergers, reclassifications, reorganizations,
recapitalizations, combinations or exchanges of shares and the like, appropriate adjustment shall be made in the provisions of this Agreement so as to fairly and equitably preserve, as far as practicable, the rights and obligations set forth herein
that continue to be applicable on the date of such change. No rule of construction against the draftsperson shall be applied in connection with the interpretation or enforcement of this Agreement, as this Agreement is the product of negotiation
between sophisticated parties advised by counsel. 

  
 21 

 ARTICLE III 

MISCELLANEOUS 
 3.1. Term.
This Agreement will be effective as of effective time of the Merger and shall terminate (i) on the earliest of (a) the third anniversary of the date on which the Merger is consummated, and (b) the date when the Holders Beneficially
Own in the aggregate Shares constituting less than two (2)% of the outstanding shares of Company Common Stock and can sell such Shares pursuant to Rule 144 under the Securities Act, or (ii) with respect to Holder, by written notice at any time
by such Holder to the Company; provided that in the event of any termination pursuant to this clause (ii), any such Holder shall not sell any Shares during any Blackout Period pending at the time of such termination. Sections 1.9 and Articles II and
III shall survive any termination. 
 3.2. Notices. All notices, consents and other communications hereunder shall be in writing and
shall be given (and shall be deemed to have been duly given upon receipt) by hand delivery, by prepaid overnight courier (providing written proof of delivery), by confirmed email transmission or by certified or registered mail (return receipt
requested and first class postage prepaid), addressed as follows: 
 (a) If to any Holder, to such Holder at the address indicated on
Schedule A hereto, with a concurrent copy to (which shall not be considered notice): 
  

			
	Simpson Thacher & Bartlett LLP
	2475 Hanover Street
	Palo Alto, CA 94304
	Attention:	 	Robert Langdon, Esq.
		 	Atif Azher, Esq.
		 	William Brentani, Esq.
	 Email:  robertlangdon@stblaw.com; aazher@stblaw.com;

             wbrentani@stblaw.com

 (b) if to the Company, to: 
  

			
	Intercontinental Exchange, Inc.
	5560 New Northside Drive
	Atlanta, GA 30328
	Facsimile:  (770) 937-0020
	Email: legal-notices@theice.com
	Attention:	 	General Counsel

  
 22 

			
	with a concurrent copy to (which shall not be considered notice):
	
	Sullivan & Cromwell LLP
	125 Broad Street
	New York, NY 10004
	Facsimile:  (212) 558-3588
	E-mail:  evangelakosj@sullcrom.com
	E-mail:  cohana@sullcrom.com
	E-mail:  clarkinc@sullcrom.com
	Attention:	 	John Evangelakos
		 	Audra Cohen
		 	Catherine M. Clarkin

 (c) if to any Holder, to such Holder at the address indicated on Schedule A hereto, 

 

			
	with a concurrent copy to (which shall be considered notice):

 3.3. Amendments and Waivers. No provision of this Agreement may be amended or modified unless such
amendment or modification is in writing and signed by (i) the Company and (ii) Holders Beneficially Owning a majority of the Shares then Beneficially Owned by all Holders, provided that Section 1.3(f), 1.3(g), and 3.6 may be
amended by a written instrument signed by the Sponsors and the holders of a majority of the Registrable Securities held by all of the Large Holders at the time of such amendment. No failure or delay by any party in exercising any right, power or
privilege hereunder shall operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or privilege. The rights and remedies herein provided
shall be cumulative and not exclusive of any rights or remedies provided by Applicable Law. 
 3.4. Successors and Assigns and
Transferees. Each Holder may assign all or a portion of its rights hereunder to any Permitted Transferee of such Holder to which such Holder transfers all or any of its Registrable Securities; provided that such transferee shall only be
admitted as a party hereunder and become a Holder upon its, his or her execution and delivery of a joinder agreement, in form and substance reasonably acceptable to the Company agreeing to be bound by the terms and conditions of this Agreement as if
such person were a Holder party hereto; whereupon such Person will be treated as a Holder for all purposes of this Agreement, with the same rights, benefits and obligations hereunder as the transferring Holder with respect to the transferred
Registrable Securities. Except as provided in the immediate preceding sentence, neither this Agreement nor any of the rights or obligations hereunder shall be assigned by any of the parties hereto without the prior written consent of the other
parties. Subject to the preceding sentence, this Agreement will be binding upon, inure to the benefit of and be enforceable by the parties and their respective successors and assigns. Any attempted assignment in violation of this Section 3.4
shall be void. 
 3.5. Severability. It is the intent of the parties that the provisions of this Agreement shall be enforced to the
fullest extent permissible under Applicable Law and public policies applied in each jurisdiction in which enforcement is sought. If any particular provision or portion of this Agreement shall be adjudicated to be invalid or unenforceable, such
provision or portion thereof shall be deemed amended to the minimum extent necessary to render such provision or portion valid and enforceable, and such amendment will apply only with respect to the operation of such provision or portion in the
particular jurisdiction in which such adjudication is made. 

  
 23 

 3.6. Transfer Provisions among the Holders. 

(a) Anything in this Agreement to the contrary notwithstanding, the Co-Invest Entity agrees for the benefit of the Demand Stockholders that,
unless otherwise agreed by such Co-Invest Entity and all of the Demand Stockholders, during the period from the Closing Date until the one year anniversary of the Closing Date the maximum amount of Registrable Securities that may be sold by such
Co-Invest Entity in any offer and sale pursuant to Section 1.1, 1.2 or 1.3 is an amount equal to the number of Registrable Securities owned by such Co-Invest Entity at the time of such offer and sale multiplied by a fraction (x) the
numerator of which equals the aggregate number of Registrable Securities being sold by the Demand Stockholders in such transaction and (y) the denominator of which is the aggregate number of Registrable Securities owned at such time by all of
the Demand Stockholders. 
 (b) During the period from the six month anniversary of the Closing Date until the one year anniversary of the
Closing Date, in the event that one or more Demand Stockholders propose to offer and sell any Registrable Securities pursuant to Rule 144 under the Securities Act then such Demand Stockholder(s) shall provide the Co-Invest Entity an opportunity to
participate in such offer and sale on a pro rata basis in proportion to its ownership of Registrable Securities and on the same terms applicable to such Demand Stockholder(s) with any notice of such proposed offer and sale to the Co-Invest Entity
and the timing of its response to participate in such offer and sale being determined by the Demand Stockholder(s) proposing such offer and sale in light of the timing of the proposed transaction. This Section 3.6(b) is solely for the benefit
of the Demand Stockholders and the Co-Invest Entity. 
 3.7. Counterparts. This Agreement may be executed in two or more
counterparts, all of which shall be considered one and the same agreement and shall become effective when counterparts have been signed by each of the parties and delivered to the other parties, it being understood that each party need not sign the
same counterpart. 
 3.8. Entire Agreement. This Agreement (including the documents and the instruments referred to in this
Agreement), together with the Merger Agreement, the Support and Standstill Agreement and the Confidentiality Agreement (each as defined in the Merger Agreement), constitutes the entire agreement and supersedes all prior agreements and
understandings, both written and oral, between the parties with respect to the subject matter of this Agreement. 
 3.9. APPLICABLE LAW;
JURISDICTION OF DISPUTES. THIS AGREEMENT AND ALL LITIGATION, CLAIMS, ACTIONS, SUITS, HEARINGS OR PROCEEDINGS (WHETHER CIVIL, CRIMINAL OR ADMINISTRATIVE AND WHETHER BASED ON CONTRACT, TORT OR OTHERWISE), DIRECTLY OR INDIRECTLY, ARISING OUT OF OR
RELATING TO THIS AGREEMENT, ANY OF THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT OR THE ACTIONS OF THE COMPANY OR THE SPONSORS IN THE NEGOTIATION, ADMINISTRATION, PERFORMANCE AND ENFORCEMENT HEREOF OR THEREOF, SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE, WITHOUT GIVING EFFECT TO ANY CHOICE OR CONFLICT OF LAWS 

  
 24 

 
PROVISION OR RULE (WHETHER OF THE STATE OF DELAWARE OR ANY OTHER JURISDICTION) THAT WOULD CAUSE THE APPLICATION OF THE LAWS OF ANY JURISDICTION OTHER THAN THE STATE OF DELAWARE. EACH OF THE
PARTIES HERETO HEREBY (A) EXPRESSLY AND IRREVOCABLY SUBMITS TO THE EXCLUSIVE PERSONAL JURISDICTION OF THE COURT OF CHANCERY OF THE STATE OF DELAWARE (PROVIDED THAT IF JURISDICTION IS NOT THEN AVAILABLE IN THE COURT OF CHANCERY OF THE STATE OF
DELAWARE, THE PERSONAL JURISDICTION OF ANY UNITED STATES FEDERAL COURT LOCATED IN THE STATE OF DELAWARE OR ANY OTHER DELAWARE STATE COURT) IN THE EVENT ANY DISPUTE ARISES OUT OF THIS AGREEMENT OR ANY OF THE TRANSACTIONS CONTEMPLATED BY THIS
AGREEMENT, (B) AGREES THAT IT WILL NOT ATTEMPT TO DENY OR DEFEAT SUCH PERSONAL JURISDICTION BY MOTION OR OTHER REQUEST FOR LEAVE FROM ANY SUCH COURT AND (C) AGREES THAT IT WILL NOT BRING ANY ACTION RELATING TO THIS AGREEMENT OR ANY OF THE
TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT IN ANY COURT OTHER THAN THE COURT OF CHANCERY OF THE STATE OF DELAWARE (PROVIDED THAT IF JURISDICTION IS NOT THEN AVAILABLE IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE, SUCH ACTION MAY BE BROUGHT ANY
UNITED STATES FEDERAL COURT LOCATED IN THE STATE OF DELAWARE OR ANY OTHER DELAWARE STATE COURT); PROVIDED THAT EACH OF THE PARTIES SHALL HAVE THE RIGHT TO BRING ANY ACTION OR PROCEEDING FOR ENFORCEMENT OF A JUDGMENT ENTERED BY ANY UNITED STATES
FEDERAL COURT LOCATED IN THE STATE OF DELAWARE OR ANY DELAWARE STATE COURT IN ANY OTHER COURT OR JURISDICTION. 
 3.10. WAIVER OF JURY
TRIAL. EACH OF THE COMPANY AND THE SPONSORS IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE ACTIONS OF THE
COMPANY OR THE SPONSORS IN THE NEGOTIATION, ADMINISTRATION, PERFORMANCE AND ENFORCEMENT THEREOF. 
 3.11. Specific Performance. The
parties hereto agree that monetary damages would not be an adequate remedy in the event that any of the provisions of this Agreement were not performed in accordance with their specific terms. It is expressly agreed that the parties hereto shall be
entitled to equitable relief, including injunctive relief and specific performance of the terms hereof, this being in addition to any other remedies to which they are entitled at law or in equity. 

3.12. No Third Party Beneficiaries. Nothing in this Agreement shall confer any rights upon any Person other than the parties hereto and
each such party’s respective heirs, successors and permitted assigns; provided that the Persons indemnified under Section 1.9 are intended third party beneficiaries of Section 1.9. 

3.13. No Recourse. Notwithstanding anything that may be expressed or implied in this Agreement, and notwithstanding the fact that any
party hereto may be a partnership or limited liability company, each party hereto, by its acceptance of the benefits of this Agreement, covenants, agrees and acknowledges that no Persons other than the named parties hereto shall have any obligation
hereunder 

  
 25 

 
and that it has no rights of recovery hereunder against, and no recourse hereunder or in respect of any oral representations made or alleged to be made in connection herewith shall be had
against, any former, current or future director, officer, agent, Affiliate, manager, assignee, incorporator, controlling Person, fiduciary, representative or employee of any Sponsor (or any of their heirs, successors or permitted assigns), or
against any former, current or future director, officer, agent, employee, Affiliate, manager, assignee, incorporator, controlling Person, fiduciary, representative, general or limited partner, stockholder, manager or member of any of the foregoing
Persons, but in each case not including the named parties hereto (each, a “Non-Liable Person”), whether by or through attempted piercing of the corporate veil, by or through a claim (whether in tort, contract or otherwise) by or on
behalf of such party against any Non-Liable Person, by the enforcement of any assignment or by any legal or equitable proceeding, or by virtue of any statute, regulation or other Applicable Law or otherwise; it being expressly agreed and
acknowledged that no personal liability whatsoever shall attach to, be imposed on or otherwise be incurred by any Non-Liable Person, as such, for any obligations of the applicable party under this Agreement or the transactions contemplated hereby,
in respect of any oral representations made or alleged to have been made in connection herewith or therewith or for any claim (whether in tort, contract or otherwise) based on, in respect of or by reason of, such obligations or their creation. 

[The remainder of this page left intentionally blank.] 

  
 26 

 IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement by their authorized
representatives as of the date first above written. 
  

					
	INTERCONTINENTAL EXCHANGE, INC.
		
	By:	 	 /s/ Scott A. Hill

		 	Name:	 	Scott A. Hill
		 	Title:	 	Chief Financial Officer

 IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement by their authorized
representatives as of the date first above written. 
  

					
	SPONSORS
	
	SILVER LAKE PARTNERS III, L.P.
		
	By:	 	SILVER LAKE TECHNOLOGY ASSOCIATES III, L.P., its general partner
		
	By:	 	SLTA III (GP), L.L.C., its general partner
		
	By:	 	SILVER LAKE GROUP, L.L.C., its sole member
		
	By:	 	 /s/ Michael Bingle

		 	Name:	 	Michael Bingle
		 	Title:	 	Managing Director
	
	SILVER LAKE TECHNOLOGY INVESTORS III, L.P.
		
	By:	 	SILVER LAKE TECHNOLOGY ASSOCIATES III, L.P., its general partner
		
	By:	 	SLTA III (GP), L.L.C., its general partner
		
	By:	 	SILVER LAKE GROUP, L.L.C., its sole member
		
	By:	 	 /s/ Michael Bingle

		 	Name:	 	Michael Bingle
		 	Title:	 	Managing Director

					
	
	WARBURG PINCUS PRIVATE EQUITY X, L.P.
		
	By:	 	WARBURG PINCUS X, L.P., its general partner
		
	By:	 	WARBURG PINCUS X GP L.P., its general partner
		
	By:	 	WPP GP LLC, its general partner
		
	By:	 	WARBURG PINCUS PARTNERS, L.P., its managing member
		
	By:	 	WARBURG PINCUS PARTNERS GP LLC, its general partner
		
	By:	 	WARBURG PINCUS & CO., its managing member
		
	By:	 	 /s/ James Neary

		 	Name:	 	James Neary
		 	Title:	 	Partner

					
	WARBURG PINCUS X PARTNERS, L.P.
		
	By:	 	WARBURG PINCUS X, L.P., its general partner
		
	By:	 	WARBURG PINCUS X GP L.P., its general partner
		
	By:	 	WPP GP LLC, its general partner
		
	By:	 	WARBURG PINCUS PARTNERS, L.P., its managing member
		
	By:	 	WARBURG PINCUS PARTNERS GP LLC, its general partner
		
	By:	 	WARBURG PINCUS & CO., its managing member
		
	By:	 	 /s/ James Neary

		 	Name:	 	James Neary
		 	Title:	 	Partner

					
	WPX FINANCE, L.P.
		
	By:	 	WPX GP, L.P., its general partner
		
	By:	 	WARBURG PINCUS PRIVATE EQUITY X, L.P., its general partner
		
	By:	 	WARBURG PINCUS X, L.P., its general partner
		
	By:	 	WARBURG PINCUS X GP L.P., its general partner
		
	By:	 	WPP GP LLC, its general partner
		
	By:	 	WARBURG PINCUS PARTNER, L.P., its managing member
		
	By:	 	WARBURG PINCUS PARTNERS GP LLC, its general partner
		
	By:	 	WARBURG PINCUS & CO., its managing member
		
	By:	 	 /s/ James Neary

		 	Name:	 	James Neary
		 	Title:	 	Partner

 IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement by their authorized
representatives as of the date first above written. 
  

					
	CO-INVEST ENTITY
	
	IGLOO CO-INVEST, LLC
		
	By:	 	Igloo Manager Co-Invest, LLC, its Managing Member
		
	By:	 	 /s/ Michael Bingle

		 	Name:	 	Michael Bingle
		 	Title:	 	Manager
		
	By:	 	 /s/ James Neary

		 	Name:	 	James Neary
		 	Title:	 	Manager

 IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement by their authorized
representatives as of the date first above written. 
  

					
	OTHER HOLDERS
		
	By:	 	 /s/ Samuel Adams

		 	Name:	 	Samuel Adams
		
	By:	 	 /s/ Edward Addvensky

		 	Name:	 	Edward Addvensky
		
	By:	 	 /s/ Jean Aiken

		 	Name:	 	Jean Aiken
		
	By:	 	 /s/ Olakunle Babarinde

		 	Name:	 	Olakunle Babarinde
		
	By:	 	 /s/ Jon Barasch

		 	Name:	 	Jon Barasch
		
	By:	 	 /s/ George Baroulakis

		 	Name:	 	George Baroulakis
		
	By:	 	 /s/ Adrian Bates

		 	Name:	 	Adrian Bates
		
	By:	 	 /s/ Marc Batten

		 	Name:	 	Marc Batten
		
	By:	 	 /s/ Celie Baussan

		 	Name:	 	Celie Baussan
		
	By:	 	 /s/ Lorin Beatty

		 	Name:	 	Lorin Beatty

 
					
	By:	 	 /s/ Anthony Charles Belcher

		 	Name:	 	Anthony Charles Belcher
		
	By:	 	 /s/ Amy Berne

		 	Name:	 	Amy Berne
		
	By:	 	 /s/ Joshua Berne

		 	Name:	 	Joshua Berne
		
	By:	 	 /s/ James Black

		 	Name:	 	James Black
		
	By:	 	 /s/ Nathan Bouley

		 	Name:	 	Nathan Bouley
		
	By:	 	 /s/ Matthew Brodin

		 	Name:	 	Matthew Brodin
		
	By:	 	 /s/ Sean Brown

		 	Name:	 	Sean Brown
		
	By:	 	 /s/ Phil Burch

		 	Name:	 	Phil Burch
		
	By:	 	 /s/ William Burns

		 	Name:	 	William Burns
		
	By:	 	 /s/ Jessica Burruss

		 	Name:	 	Jessica Burruss
		
	By:	 	 /s/ Susan Burud

		 	Name:	 	Susan Burud

 
							
	By:	 	 /s/ Peter Castrichini

		 	Name:	 	Peter Castrichini
		
	By:	 	 /s/ Scott Caudell

		 	Name:	 	Scott Caudell
		
	By:	 	 /s/ William Chambers

		 	Name:	 	William Chambers
		
	By:	 	 /s/ Vincent Chippari

		 	Name:	 	Vincent Chippari
		
	By:	 	 /s/ Robert Coletti

		 	Name:	 	Robert Coletti
		
	By:	 	 /s/ Stephen Daffron

		 	Name:	 	Stephen Daffron
		
	By:	 	The Daffron 2015 Grantor Retained Annuity Trust No. 6

 
							
		 	By:	 	 /s/ Stephen Daffron

		 		 	Name:	 	Stephen Daffron
		 		 	Title:	 	Trustee

 
							
		
	By:	 	 /s/ Raymond D’Arcy

		 	Name:	 	Raymond D’Arcy
		
	By:	 	 /s/ Robert Dawley

		 	Name:	 	Robert Dawley
		
	By:	 	 /s/ Charles Dennis

		 	Name:	 	Charles Dennis
		
	By:	 	 /s/ Stefano Di Stefano

		 	Name:	 	Stefano Di Stefano

 
					
	By:	 	 /s/ Sonia Dixon

		 	Name:	 	Sonia Dixon
		
	By:	 	 /s/ Emmanuel Doe

		 	Name:	 	Emmanuel Doe
		
	By:	 	 /s/ Kevin Downey

		 	Name:	 	Kevin Downey
		
	By:	 	 /s/ Elizabeth Duggan

		 	Name:	 	Elizabeth Duggan
		
	By:	 	 /s/ Adrian Falcone

		 	Name:	 	Adrian Falcone
		
	By:	 	 /s/ Scott Feagans

		 	Name:	 	Scott Feagans
		
	By:	 	 /s/ Brian Fellion

		 	Name:	 	Brian Fellion
		
	By:	 	 /s/ Geoffrey Fite

		 	Name:	 	Geoffrey Fite
		
	By:	 	 /s/ Christen Fleming

		 	Name:	 	Christen Fleming
		
	By:	 	 /s/ Morris Ford

		 	Name:	 	Morris Ford
		
	By:	 	 /s/ Diane Frost

		 	Name:	 	Diane Frost

 
					
	By:	 	 /s/ William Gartland

		 	Name:	 	William Gartland
		
	By:	 	 /s/ Louis Gehring

		 	Name:	 	Louis Gehring
		
	By:	 	 /s/ Rodney Geres

		 	Name:	 	Rodney Geres
		
	By:	 	 /s/ Alexander Goor

		 	Name:	 	Alexander Goor
		
	By:	 	 /s/ Eric Gulbrandsen

		 	Name:	 	Eric Gulbrandsen
		
	By:	 	 /s/ Susan Haberl

		 	Name:	 	Susan Haberl
		
	By:	 	 /s/ Robert Haddad

		 	Name:	 	Robert Haddad
		
	By:	 	 /s/ Lori Hannay

		 	Name:	 	Lori Hannay
		
	By:	 	 /s/ Andrew Hausman

		 	Name:	 	Andrew Hausman
		
	By:	 	 /s/ Mark Heckert

		 	Name:	 	Mark Heckert

 
					
	By:	 	 /s/ John Heflin

		 	Name:	 	John Heflin
		
	By:	 	 /s/ Erin Heise

		 	Name:	 	Erin Heise
		
	By:	 	 /s/ Mark Hepsworth

		 	Name:	 	Mark Hepsworth
		
	By:	 	 /s/ Jeremy Hough

		 	Name:	 	Jeremy Hough
		
	By:	 	 /s/ Rogers Howard

		 	Name:	 	Rogers Howard
		
	By:	 	 /s/ William Hutton

		 	Name:	 	William Hutton
		
	By:	 	 /s/ Scott Johnson

		 	Name:	 	Scott Johnson
		
	By:	 	 /s/ Richard Jones

		 	Name:	 	Richard Jones
		
	By:	 	 /s/ Helen Keane

		 	Name:	 	Helen Keane
		
	By:	 	 /s/ Robert Kenny

		 	Name:	 	Robert Kenny
		
	By:	 	 /s/ Marc Kramer

		 	Name:	 	Marc Kramer

 
					
	By:	 	 /s/ Susan Kruger

		 	Name:	 	Susan Kruger
		
	By:	 	 /s/ Christopher Krupa

		 	Name:	 	Christopher Krupa
		
	By:	 	 /s/ Radhakrishna Kuchibhotla

		 	Name:	 	Radhakrishna Kuchibhotla
		
	By:	 	 /s/ Richmond Kyei-Fordjour

		 	Name:	 	Richmond Kyei-Fordjour
		
	By:	 	 /s/ David Lampert

		 	Name:	 	David Lampert
		
	By:	 	 /s/ David Lane

		 	Name:	 	David Lane
		
	By:	 	 /s/ Kenneth Lee

		 	Name:	 	Kenneth Lee
		
	By:	 	 /s/ Robert Leone

		 	Name:	 	Robert Leone
		
	By:	 	 /s/ John Locksley

		 	Name:	 	John Locksley
		
	By:	 	 /s/ James Mangold

		 	Name:	 	James Mangold

 
					
	By:	 	 /s/ Sean Marrinan

		 	Name:	 	Sean Marrinan
		
	By:	 	 /s/ Joseph Mazalewski

		 	Name:	 	Joseph Mazalewski
		
	By:	 	 /s/ Todd McGee

		 	Name:	 	Todd McGee
		
	By:	 	 /s/ Levent Mehmet

		 	Name:	 	Levent Mehmet
		
	By:	 	 /s/ Annie Morris

		 	Name:	 	Annie Morris
		
	By:	 	 /s/ Gail Morrison

		 	Name:	 	Gail Morrison
		
	By:	 	 /s/ Sandy Moy

		 	Name:	 	Sandy Moy
		
	By:	 	 /s/ Matthew Murphy

		 	Name:	 	Matthew Murphy
		
	By:	 	 /s/ Daniel Murray

		 	Name:	 	Daniel Murray
		
	By:	 	 /s/ Shannon Myatt

		 	Name:	 	Shannon Myatt
		
	By:	 	 /s/ Jay Nadler

		 	Name:	 	Jay Nadler

							
	By:	 	Nadler Family Investments LLC

 
							
		 	By:	 	 /s/ Jay Nadler

		 		 	Name:	 	Jay Nadler
		 		 	Title:	 	Managing Member

 
							
		
	By:	 	 /s/ Thomas Nisivoccia

		 	Name:	 	Thomas Nisivoccia
		
	By:	 	 /s/ Tim Noble

		 	Name:	 	Tim Noble
		
	By:	 	 /s/ Jean-Luc Nosbusch

		 	Name:	 	Jean-Luc Nosbusch
		
	By:	 	 /s/ Anne O’Brien

		 	Name:	 	Anne O’Brien
		
	By:	 	 /s/ Andrea O’Rourke

		 	Name:	 	Andrea O’Rourke
		
	By:	 	 /s/ John Palestra

		 	Name:	 	John Palestra
		
	By:	 	 /s/ Bruno Palmino

		 	Name:	 	Bruno Palmino
		
	By:	 	 /s/ Jonathan Parisi

		 	Name:	 	Jonathan Parisi
		
	By:	 	 /s/ Michael Passanisi

		 	Name:	 	Michael Passanisi
		
	By:	 	 /s/ Alfredo Pastro

		 	Name:	 	Alfredo Pastro

 
					
	By:	 	 /s/ Antonio Petruso

		 	Name:	 	Antonio Petruso
		
	By:	 	 /s/ Maryanne Petry

		 	Name:	 	Maryanne Petry
		
	By:	 	 /s/ Eric Pinstein

		 	Name:	 	Eric Pinstein
		
	By:	 	 /s/ Charles Price

		 	Name:	 	Charles Price
		
	By:	 	 /s/ Lisa Principe

		 	Name:	 	Lisa Principe
		
	By:	 	 /s/ Vincent Procacci

		 	Name:	 	Vincent Procacci
		
	By:	 	 /s/ Andrew Prozes

		 	Name:	 	Andrew Prozes
		
	By:	 	 /s/ Philippe Rasborn

		 	Name:	 	Philippe Rasborn
		
	By:	 	 /s/ Daniel Richer

		 	Name:	 	Daniel Richer
		
	By:	 	 /s/ Christopher Riggio

		 	Name:	 	Christopher Riggio
		
	By:	 	 /s/ Peter Rizzo

		 	Name:	 	Peter Rizzo

 
							
	By:	 	 /s/ Edward Ross

		 	Name:	 	Edward Ross
		
	By:	 	 /s/ Jeffrey Roy

		 	Name:	 	Jeffrey Roy
		
	By:	 	 /s/ Neil Rudden

		 	Name:	 	Neil Rudden
		
	By:	 	 /s/ Claudio Salinardi

		 	Name:	 	Claudio Salinardi
		
	By:	 	 /s/ Rebecca Shapiro

		 	Name:	 	Rebecca Shapiro
		
	By:	 	 /s/ Mary Singh

		 	Name:	 	Mary Singh
		
	By:	 	 /s/ Mason Slaine

		 	Name:	 	Mason Slaine
		
	By:	 	The David Slaine 2010 Trust

 
							
		 	By:	 	 /s/ Mason Slaine

		 		 	Name:	 	Mason Slaine
		 		 	Title:	 	Trustee
		
	By:	 	2013 Slaine Family Investment Trust
		 	By:	 	 /s/ Mason Slaine

		 		 	Name:	 	Mason Slaine
		 		 	Title:	 	Trustee

 
							
		
	By:	 	 /s/ Andrew Smith

		 	Name:	 	Andrew Smith

 
					
	By:	 	 /s/ Michael Spillane

		 	Name:	 	Michael Spillane
		
	By:	 	 /s/ Craig Spital

		 	Name:	 	Craig Spital
		
	By:	 	 /s/ Kenneth Starr

		 	Name:	 	Kenneth Starr
		
	By:	 	 /s/ Carol Sweeney

		 	Name:	 	Carol Sweeney
		
	By:	 	 /s/ Timothy Sweeney

		 	Name:	 	Timothy Sweeney
		
	By:	 	 /s/ Alfred Turello

		 	Name:	 	Alfred Turello
		
	By:	 	 /s/ Alexander Upton

		 	Name:	 	Alexander Upton
		
	By:	 	 /s/ David Varano

		 	Name:	 	David Varano
		
	By:	 	 /s/ Daniel Videtto

		 	Name:	 	Daniel Videtto
		
	By:	 	 /s/ Glenn Wasserman

		 	Name:	 	Glenn Wasserman
		
	By:	 	 /s/ Martin Williams

		 	Name:	 	Martin Williams

 
					
	By:	 	 /s/ Daniel Windle

		 	Name:	 	Daniel Windle
		
	By:	 	 /s/ Gary Wright

		 	Name:	 	Gary Wright

 EXHIBIT A 

PLAN OF DISTRIBUTION 
 The
selling securityholders, including their pledgees, donees, transferees, distributees, beneficiaries or other successors in interest, may from time to time offer some or all of the shares of common stock (collectively, “Securities”) covered
by this prospectus. To the extent required, this prospectus may be amended and supplemented from time to time to describe a specific plan of distribution. 

The selling securityholders will not pay any of the costs, expenses and fees in connection with the registration and sale of the Securities
covered by this prospectus, but they will pay any and all underwriting discounts, selling commissions and stock transfer taxes, if any, attributable to sales of the Securities. We will not receive any proceeds from the sale of our notes and the
common stock covered hereby. 
 The selling securityholders may sell the Securities covered by this prospectus from time to time, and may
also decide not to sell all or any of the Securities that they are allowed to sell under this prospectus. The selling securityholders will act independently of us in making decisions regarding the timing, manner and size of each sale. These
dispositions may be at fixed prices, at market prices prevailing at the time of sale, at prices related to such prevailing market prices, at varying prices determined at the time of sale, or at privately negotiated prices. Sales may be made by the
selling securityholders in one or more types of transactions, which may include: 
  

	 	•	 	purchases by underwriters, dealers and agents who may receive compensation in the form of underwriting discounts, concessions or commissions from the selling securityholders and/or the purchasers of the Securities for
whom they may act as agent; 

  

	 	•	 	one or more block transactions, including transactions in which the broker or dealer so engaged will attempt to sell the Securities as agent but may position and resell a portion of the block as principal to facilitate
the transaction, or in crosses, in which the same broker acts as an agent on both sides of the trade; 

  

	 	•	 	ordinary brokerage transactions or transactions in which a broker solicits purchases; 

  

	 	•	 	purchases by a broker-dealer or market maker, as principal, and resale by the broker-dealer for its account; 

  

	 	•	 	the pledge of Securities for any loan or obligation, including pledges to brokers or dealers who may from time to time effect distributions of Securities; 

 

	 	•	 	short sales or transactions to cover short sales relating to the Securities; 

  

	 	•	 	one or more exchanges or over the counter market transactions; 

	 	•	 	through distribution by a selling securityholder or its successor in interest to its members, general or limited partners or shareholders (or their respective members, general or limited partners or shareholders);

  

	 	•	 	privately negotiated transactions; 

  

	 	•	 	the writing of options, whether the options are listed on an options exchange or otherwise; 

  

	 	•	 	distributions to creditors and equity holders of the selling securityholders; and 

  

	 	•	 	any combination of the foregoing, or any other available means allowable under applicable law. 

A selling securityholder may also resell all or a portion of its Securities in open market transactions in reliance upon Rule 144 under the
Securities Act provided it meets the criteria and conforms to the requirements of Rule 144 and all applicable laws and regulations. 
 The
selling securityholders may enter into sale, forward sale and derivative transactions with third parties, or may sell securities not covered by this prospectus to third parties in privately negotiated transactions. In connection with those sale,
forward sale or derivative transactions, the third parties may sell securities covered by this prospectus, including in short sale transactions and by issuing securities that are not covered by this prospectus but are exchangeable for or represent
beneficial interests in the common stock. The third parties also may use shares received under those sale, forward sale or derivative arrangements or shares pledged by the selling securityholder or borrowed from the selling securityholders or others
to settle such third-party sales or to close out any related open borrowings of common stock. The third parties may deliver this prospectus in connection with any such transactions. Any third party in such sale transactions will be an underwriter
and will be identified in a supplement or a post-effective amendment to the registration statement of which this prospectus is a part as may be required. 

In addition, the selling securityholders may engage in hedging transactions with broker-dealers in connection with distributions of Securities
or otherwise. In those transactions, broker-dealers may engage in short sales of securities in the course of hedging the positions they assume with selling securityholders. The selling securityholders may also sell securities short and redeliver
securities to close out such short positions. The selling securityholders may also enter into option or other transactions with broker-dealers which require the delivery of securities to the broker-dealer. The broker-dealer may then resell or
otherwise transfer such securities pursuant to this prospectus. The selling securityholders also may loan or pledge shares, and the borrower or pledgee may sell or otherwise transfer the Securities so loaned or pledged pursuant to this prospectus.
Such borrower or pledgee also may transfer those Securities to investors in our securities or the selling securityholders’ securities or in connection with the offering of other securities not covered by this prospectus. 

To the extent necessary, the specific terms of the offering of Securities, including the specific Securities to be sold, the names of the
selling securityholders, the respective purchase prices and public offering prices, the names of any underwriter, broker-dealer or agent, if any, and any applicable compensation in the form of discounts, concessions or commissions paid to
underwriters or agents or paid or allowed to dealers will be set forth in a supplement to this prospectus or a post-effective 

 
amendment to this registration statement of which this prospectus forms a part. The selling securityholders may, or may authorize underwriters, dealers and agents to, solicit offers from
specified institutions to purchase Securities from the selling securityholders at the public offering price listed in the applicable prospectus supplement. These sales may be made under “delayed delivery contracts” or other purchase
contracts that provide for payment and delivery on a specified future date. Any contracts like this will be described in and be subject to the conditions set forth in a supplement to this prospectus or a post-effective amendment to this registration
statement of which this prospectus forms a part. 
 Broker-dealers or agents may receive compensation in the form of commissions, discounts
or concessions from the selling securityholders. Broker-dealers or agents may also receive compensation from the purchasers of Securities for whom they act as agents or to whom they sell as principals, or both. Compensation as to a particular
broker-dealer might be in excess of customary commissions and will be in amounts to be negotiated in connection with transactions involving securities. In effecting sales, broker-dealers engaged by the selling securityholders may arrange for other
broker-dealers to participate in the resales. 
 In connection with sales of Securities covered hereby, the selling securityholders and any
underwriter, broker-dealer or agent and any other participating broker-dealer that executes sales for the selling securityholders may be deemed to be an “underwriter” within the meaning of the Securities Act of 1933, as amended (the
“Securities Act”). Accordingly, any profits realized by the selling securityholders and any compensation earned by such underwriter, broker-dealer or agent may be deemed to be underwriting discounts and commissions. Selling securityholders
who are “underwriters” under the Securities Act must deliver this prospectus in the manner required by the Securities Act. This prospectus delivery requirement may be satisfied through the facilities of the New York Stock Exchange in
accordance with Rule 153 under the Securities Act or satisfied in accordance with Rule 174 under the Securities Act. 
 We and the selling
securityholders have agreed to indemnify each other against certain liabilities, including liabilities under the Securities Act. In addition, we or the selling securityholders may agree to indemnify any underwriters, broker-dealers and agents
against or contribute to any payments the underwriters, broker-dealers or agents may be required to make with respect to, civil liabilities, including liabilities under the Securities Act. Underwriters, broker-dealers and agents and their affiliates
are permitted to be customers of, engage in transactions with, or perform services for us and our affiliates or the selling securityholders or their affiliates in the ordinary course of business. 

In order to comply with applicable securities laws of some states or countries, the Securities may only be sold in those jurisdictions through
registered or licensed brokers or dealers and in compliance with applicable laws and regulations. In addition, in certain states or countries the Securities may not be sold unless they have been registered or qualified for sale in the applicable
state or country or an exemption from the registration or qualification requirements is available. In addition, any Securities of a selling securityholder covered by this prospectus that qualify for sale pursuant to Rule 144 under the Securities Act
may be sold in open market transactions under Rule 144 rather than pursuant to this prospectus. 
 In connection with an offering of
Securities under this prospectus, the underwriters may purchase and sell securities in the open market. These transactions may include short sales, stabilizing 

 
transactions and purchases to cover positions created by short sales. Short sales involve the sale by the underwriters of a greater number of securities than they are required to purchase in an
offering. Stabilizing transactions consist of certain bids or purchases made for the purpose of preventing or retarding a decline in the market price of the securities while an offering is in progress. 

The underwriters also may impose a penalty bid. This occurs when a particular underwriter repays to the underwriters a portion of the
underwriting discount received by it because the underwriters have repurchased securities sold by or for the account of that underwriter in stabilizing or short-covering transactions. 

These activities by the underwriters may stabilize, maintain or otherwise affect the market price of the Securities offered under this
prospectus. As a result, the price of the Securities may be higher than the price that otherwise might exist in the open market. If these activities are commenced, they may be discontinued by the underwriters at any time. These transactions may be
effected on the New York Stock Exchange, the NASDAQ Stock Exchange or another securities exchange or automated quotation system, or in the over-the-counter market or otherwise.Exhibit 10.1

 

	Banc of America Leasing & Capital, LLC	Master Lease Agreement Number: 30350-
	 	90000

 

This Master Lease Agreement, dated as
of December 9, 2015 (this “Agreement”), is by and between Banc of America Leasing & Capital, LLC,
a Delaware limited liability company having an office at 125 Dupont Drive, Providence, RI 02907 (together with its successors and
assigns, “Lessor”), and Private National Mortgage Acceptance Company, LLC as “Lessee”,
a corporation existing under the laws of the state of Delaware, and having its chief executive office and any organizational
identification number as specified with its execution of this Agreement below. Certain defined terms used herein are identified
in bold face and quotation marks throughout this Agreement and in Section 15 below. This Agreement sets forth the terms and
conditions for the lease of Equipment between Lessor and Lessee pursuant to one or more "Schedules" incorporating
by reference the terms of this Agreement, together with all exhibits, addenda, schedules, certificates, riders and other documents
and instruments executed and delivered in connection with such Schedule (as amended from time to time, a “Lease”).
Each Lease constitutes a separate, distinct and independent lease of Equipment and contractual obligation of Lessee. This Agreement
is not an agreement or commitment by Lessor or Lessee to enter into any future Leases or other agreements, or for Lessor to provide
any financial accommodations to Lessee. Lessor shall not be obligated under any circumstances to advance any progress payments
or other funds for any Equipment or to enter into any Lease if there shall have occurred a material adverse change in the operations,
business, properties or condition, financial or otherwise, of Lessee or any Guarantor. This Agreement and each Lease shall become
effective only upon Lessor’s acceptance and execution thereof at its corporate offices set forth above.

1.Lease; Term; Non-Interference. Lessor
and Lessee agree to lease Equipment described in Schedules entered into from time to time, together with all other documentation
from Lessee required by Lessor with respect to such Lease. Upon receipt of any item or group of Equipment intended for Lease hereunder,
Lessee shall execute a Schedule, with all information fully completed and irrevocably accepting such Equipment for Lease, and deliver
such Schedule to Lessor for its review and acceptance. Provided no Event of Default has occurred, Lessee shall be entitled to use
and possess the Equipment during the original Lease Term provided in the Schedule (together with any extensions or renewals thereof
in accordance with terms of the Lease, the “Lease Term”) free from interference by any person claiming by, through
or under Lessor.

 

2.Rent. “Rent”
shall be payable to Lessor during the Lease Term in the amounts and at the times provided in the Schedule. If any Rent or other
amount payable hereunder is not paid within 10 days of its due date, Lessee shall pay an administrative late charge of 5% of the
amount not timely paid. All Rent and other amounts payable under a Lease shall be made in immediately available funds at Lessor’s
address above or such other place as Lessor shall specify in writing. Unless otherwise provided herein, payments received under
any Lease will be applied to all interest, fees and amounts owing thereunder (other than Rent), and then to Rent payable thereunder.

 

3.Net Lease; Disclaimer Of Warranties.
Each Lease is a net lease and a “finance lease” under Article 2A of the UCC, and Lessee waives all rights and remedies
Lessee may have under sections 2A-508 – 2A-522 thereof, including any right to cancel or repudiate any Lease or to reject
or revoke acceptance of any Equipment. Upon the “Acceptance Date” provided in the Schedule for each Lease, Lessee’s
Obligations thereunder (i) shall be non-cancelable, absolute and unconditional under all circumstances for the entire Lease Term,
(ii) shall be unaffected by the loss or destruction of any Equipment, and (iii) shall not be subject to any abatement, deferment,
reduction, set-off, counterclaim, recoupment or defense for any reason whatsoever. LESSOR IS NOT A VENDOR OR AGENT OF THE EQUIPMENT
VENDOR, AND HAS NOT ENGAGED IN THE SALE OR DISTRIBUTION OF ANY EQUIPMENT. LESSOR MAKES NO EXPRESS OR IMPLIED REPRESENTATIONS OR
WARRANTIES AS TO TITLE, MERCHANTABILITY, PERFORMANCE, CONDITION, EXISTENCE, FITNESS OR SUITABILITY FOR LESSEE'S PURPOSES OF ANY
EQUIPMENT, PATENT, TRADEMARK OR COPYRIGHT INFRINGEMENTS, THE CONFORMITY OF THE EQUIPMENT TO THE DESCRIPTION THEREOF IN ANY LEASE,
OR ANY OTHER REPRESENTATION OR WARRANTY OF ANY KIND WITH RESPECT TO THE EQUIPMENT. If Equipment is not delivered or properly installed,
does not operate as warranted, becomes obsolete, or is unsatisfactory for any reason, Lessee shall make all claims on account thereof
solely against Vendor and not against Lessor. Lessee is solely responsible for the selection, shipment, delivery and installation
of the Equipment and its Vendors, expressly disclaims any reliance upon any statements or representations made by Lessor in connection
therewith, and has received and approved the terms of any purchase orders, warranties, licenses or agreements with respect to the
Equipment. During the Lease Term, Lessee shall be entitled, on a non-exclusive basis, to enforce any applicable Vendor warranties,
to the extent permitted thereby and by applicable law. Lessor assigns such warranties to Lessee, to the extent permitted thereby,
and agrees to cooperate with Lessee, at Lessee’s sole cost and expense, in making any reasonable claim against such Vendor
arising from any defect in the Equipment.

 

4.Use; Maintenance; Location; Inspection.
Lessee shall: (i) use, operate, protect and maintain the Equipment (a) in good operating order, repair, condition and appearance,
in the same condition as when received, ordinary wear and tear excepted, (b) consistent with prudent industry practice (but in
no event less than the extent to which Lessee maintains other similar equipment in the prudent management of its assets and properties),
and (c) in compliance with all applicable insurance policies, laws, ordinances, rules, regulations and manufacturer's recommended
maintenance and repair procedures, and (ii) maintain comprehensive books and records regarding the use, operation, maintenance
and repair of the Equipment. The Equipment shall be used only within the 48 contiguous United States, solely for business purposes
(and not for any consumer, personal, home, or family purpose), and shall not be abandoned or used for any unlawful purpose. Lessee
shall not discontinue use of any Equipment except for normal maintenance nor, through modifications, alterations or otherwise,
impair the current or residual value, useful life, utility or originally intended function of any Equipment without Lessor's prior
consent. Any replacement or substitution of parts, improvements, upgrades, or additions to the Equipment during the Lease Term
shall be the property of Lessor and subject to the Lease, except that if no Event of Default exists, Lessee may at its expense
remove improvements or additions provided by Lessee that can be readily removed without impairing the value, function or remaining
useful life of the Equipment. If requested by Lessor, Lessee shall cause Equipment to be plainly marked to disclose Lessor's ownership,
as specified by Lessor. Lessee shall not change the location or, in the case of over-the-road vehicles, the base of any Equipment
specified in its Schedule without Lessor's prior written consent. Lessor shall have the right to enter any premises where Equipment
is located and inspect it (together with related books and records) at any reasonable time.

 

    	1

     

    

 

5.Loss and Damage. Lessee assumes
all risk of (and shall promptly notify Lessor in writing of any occurrence of) any damage to or loss, theft, confiscation or destruction
of any Equipment from any cause whatsoever (a “Casualty”) from the date shipped or otherwise made available
to Lessee and continuing until it is returned to and accepted by Lessor in the condition required by the Lease, including Section
8 of this Agreement. If any Equipment suffers a Casualty which Lessor determines is reparable, Lessee shall at its expense promptly
place the same in good repair, condition or working order. If any Equipment suffers a Casualty which Lessor determines is beyond
repair or materially impairs its residual value (a “Total Loss”), Lessee shall at Lessor’s option either
(a) promptly replace such Equipment with a similar item reasonably acceptable to Lessor having an equivalent value, utility and
remaining useful life of such Equipment, whereupon such replacement items shall constitute Equipment for all purposes the Lease,
or (b) on the Rent payment date following such Casualty (or, if none, within 30 days) pay Lessor the Stipulated Loss Value for
such Equipment, together with all Rent scheduled for payment on such date, and all accrued interest, late charges and other amounts
then due and owing under the Lease. Upon such payment following a Total Loss, the Lease with respect to the Equipment suffering
a Total Loss shall terminate, and Lessor shall transfer all of its right, title and interest in such Equipment, free from all liens
and encumbrances created by Lessor, but otherwise on an “AS-IS, WHERE-IS,” quitclaim basis. If less than all Equipment
under a Schedule suffers a Total Loss, (i) the Stipulated Loss Value with respect to any such item of Equipment shall be calculated
by reference to the allocable portion of “Lessor’s Cost” provided in the applicable Schedule, Rent or
other amount related to such item, as reasonably determined by Lessor, and (ii) the remaining Rent under the Schedule shall be
proportionately reduced as reasonably calculated by Lessor upon Lessor’s receipt of the payments described above.

 

6.Insurance. Lessee, at its own
expense, shall keep each item of Equipment insured against all risks for its replacement value, and in no event less than its Stipulated
Loss Value, and shall maintain public liability and, with respect to Equipment that is over-the-road vehicles, automotive liability
insurance against such risks and for such amounts as Lessor may require. All such insurance shall (a) be with companies rated “A-”
or better by A.M. Best Company, in such form as Lessor shall approve, (b) specify Lessor and Lessee as insureds and provide that
it may not be canceled or altered in any way that would affect the interest of Lessor without at least 30 days' prior written notice
to Lessor (10 days' in the case of nonpayment of premium), (c) be primary, without right of contribution from any other insurance
carried by Lessor and contain waiver of subrogation and “breach of warranty” provisions satisfactory to Lessor, (d)
provide that all amounts payable by reason of loss or damage to Equipment shall be payable solely to Lessor, unless Lessor otherwise
agrees, and (e) contain such other endorsements as Lessor may reasonably require. Lessee shall provide Lessor with evidence satisfactory
to Lessor of the required insurance upon the execution of any Schedule and promptly upon any renewal of any required policy.

 

7.Indemnities; Taxes. Lessee's indemnity
and reimbursement obligations set forth below shall survive the cancellation, termination or expiration of any Lease or this Agreement.

 

(a) General Indemnity.
Lessee shall indemnify, on an after-tax basis, defend and hold harmless Lessor and its respective officers, directors, employees,
agents and Affiliates (“Indemnified Persons”) against all claims, liabilities, losses and expenses whatsoever
(except those determined by final decision of a court of competent jurisdiction to have been directly and primarily caused by the
Indemnified Person's gross negligence or willful misconduct), including court costs and reasonable attorneys' fees and expenses
(together, “Attorneys’ Fees”), in any way relating to or arising out of the Equipment or any Lease at
any time, or the ordering, acquisition, rejection, installation, possession, maintenance, use, ownership, condition, destruction
or return of the Equipment, including any claims based in negligence, strict liability in tort, environmental liability or infringement.

 

(b) General Tax Indemnity.
Lessee shall pay or reimburse Lessor, and indemnify, defend and hold Lessor harmless from, on an after-tax basis, all taxes, assessments,
fees and other governmental charges paid or required to be paid by Lessor or Lessee in any way arising out of or related to the
Equipment or any Lease before or during the Lease Term or after the Lease Term following an Event of Default, including foreign,
Federal, state, county and municipal fees, taxes and assessments, and property, value-added, sales, use, gross receipts, excise,
stamp and documentary taxes, and all related penalties, fines, additions to tax and interest charges (“Impositions”),
excluding only Federal and state taxes based on Lessor's net income unless such taxes are in lieu of any Imposition Lessee would
otherwise be required to pay hereunder. Lessee shall timely pay any Imposition for which Lessee is primarily responsible under
law and any other Imposition not payable or not paid by Lessor, but Lessee shall have no obligation to pay any Imposition being
contested in good faith and by appropriate legal proceedings, the nonpayment of which does not, in the opinion of Lessor, result
in a material risk of adverse effect on the title, property, use, disposition or other rights of Lessor with respect to the Equipment.
Upon Lessor's request, Lessee shall furnish proof of its payment of any Imposition.

 

(c) Income Tax Indemnity.
Lessor shall be treated for federal and state income tax purposes as the owner of the Equipment and shall be entitled to take into
account certain Tax Benefits in computing its income tax liabilities in connection with any Lease. If Lessor suffers a Tax Loss
by reason of any act or failure to act by Lessee, or Lessee’s breach of any representation, warranty or agreement in any
Lease then, upon Lessor's demand and at Lessor's option, either: (i) all further Rent under the Lease, if any, shall be increased
by an amount, or (ii) Lessee shall pay Lessor a lump sum amount, which in either case shall maintain the net economic after-tax
yield, cash-flow and rate of return Lessor originally anticipated, based on Lessor’s federal and state corporate income tax
rate in effect on the Acceptance Date of the applicable Schedule and other assumptions originally used by Lessor in evaluating
the transaction and setting the Rent therefor and other terms thereof. Lessee shall also pay Lessor on demand all interest, costs
(including Attorneys’ Fees), penalties and additions to tax associated with the Tax Loss. Lessor shall have no obligation
to contest any Tax Loss. All references to “Lessor” in this Section 7(c) shall include (A) Lessor's successors
and Assignees, and (B) each member of the affiliated group of corporations, as defined in Section 1504(a) of the Code, of which
Lessor or such successor or Assignee is at any time a member. As used herein: “Tax Benefits” means all items
of income, deduction (including depreciation consistent with Lessee's representation in the applicable Schedule), credit, gain
or loss relating to ownership of the Equipment as are provided to owners of similar equipment under the Code and applicable state
tax laws in effect on the Acceptance Date of such Schedule; and “Tax Loss” means and will be deemed to be suffered
if Lessor loses, is delayed in claiming, is required to recapture, is not allowed or may not claim all or any portion of any Tax
Benefits, provided, however, that Lessee shall be under no obligation to make any payments with respect to a Tax Loss to
the extent that it (1) is caused by Lessor's failure to have sufficient taxable income to benefit from any Tax Benefits, or (2)
results from any disposition of Equipment by Lessor other than a disposition of Equipment following an Event of Default.

 

    	2

     

    

 

8.Return. Upon any cancellation,
termination or expiration of any Lease (after the occurrence of an Event of Default or otherwise), Lessee shall, at its expense,
cause the Equipment to be prepared and adequately protected for shipment by an authorized manufacturer’s representative and
either surrender it to Lessor in place or, if instructed by Lessor, ship the Equipment to Lessor, freight and insurance pre-paid,
to a place designated by Lessor within the 48 contiguous United States, in the condition required under Section 4 hereof and under
the applicable Schedule, able to be put into immediate service and to perform at manufacturer's rated levels (if any), together
with all related manuals, documents and records, and, if applicable, reassembled by an authorized manufacturer’s representative
and immediately qualified for the manufacturer’s (or its authorized servicing representative’s) then available service
contract or warranty. If requested by Lessor, Lessee shall, at its expense: (i) cause the Equipment to qualify for all applicable
licenses or permits necessary for its operation and for its intended purpose, and to comply with all specifications and requirements
of applicable federal, state and local laws, regulations and ordinances; (ii) provide safe, suitable storage, acceptable to Lessor,
for the Equipment for a period not to exceed 90 days from the date of return; and (iii) cooperate with Lessor in attempting to
remarket the Equipment, including display and demonstration to prospective parties, and allowing Lessor to conduct a private sale
on Lessee's premises. If Lessee does not surrender or return any item of Equipment to Lessor on the date or in the condition required
under a Lease, in addition to all other available rights and remedies, at Lessor's election, such Equipment shall continue to be
subject to all the terms and conditions of the Lease, with Rent and other charges continuing to accrue and be payable under the
Lease with respect to such Equipment until it is so surrendered or returned to Lessor, except that Rent shall accrue at 125% of
the last Rent allocable to such item of Equipment (as reasonably calculated by Lessor) during the Lease Term, payable on demand.

 

9.Lessee Representations and Agreements.
Lessee represents, warrants and agrees that: (a) Lessee has had for the previous 5 years (except as previously disclosed to
Lessor in writing) the legal name and form of business organization in the state described above; (b) Lessee’s chief executive
office and notice address, taxpayer identification number and any organizational identification number is as described with its
execution of this Agreement below; (c) Lessee shall notify Lessor in writing at least 30 days before changing its legal name, state
of organization, chief executive office location or organizational identification number; provided, however, that no additional
notice is required that such office and notice address shall change on or about December of 2015 or January of 2016 to 3043 Townsgate
Road, Westlake Village, California 91361; (d) Lessee is duly organized and existing in good standing under the laws of the state
described above and all other jurisdictions where legally required in order to carry on its business, shall maintain its good standing
in all such jurisdictions, and shall conduct its businesses and manage its properties (and cause each of its Affiliates to conduct
its businesses and manage its properties) in compliance with all applicable laws, rules or regulations binding, in any jurisdiction,
on Lessee and its Affiliates including, without limitation, all anti-money laundering laws and regulations; (e) the execution,
delivery and performance of this Agreement, each Lease and Related Agreement to which it is a party has been duly authorized by
Lessee, each of which are and will be binding on and enforceable against Lessee in accordance with their terms, and do not and
will not contravene any other instrument or agreement binding on Lessee; and (f) there is no pending litigation, tax or environmental
claim, proceeding, dispute or regulatory or enforcement action (and Lessee shall promptly notify Lessor of any of the same that
may hereafter arise) that may adversely affect any Equipment or Lessee's financial condition or impair its ability to perform its
Obligations.

 

10.Title; Property; Additional Security.
(a) Title; Personal Property. Each Lease is and is intended to be a lease of personal property for all purposes. Lessee
does not acquire any right, title or interest in or to any Equipment, except the right to use and possess the same under the terms
of the applicable Lease. Except as specifically provided in the applicable Schedule, Lessee has no right or option to extend the
Lease Term of a Lease or purchase any Equipment. Lessee assigns all of its rights (but none of its obligations) to Lessor under
any purchase orders, invoices or other contracts of sale with respect to the Equipment, and conveys whatever right, title and interest
it may now or hereafter have in any Equipment to Lessor. Lessor shall be the sole owner of Equipment free and clear of all liens
or encumbrances, other than Lessee’s rights under the Lease. Lessee will not create or permit to exist any lien, security
interest, charge or encumbrance on any Equipment except those created by Lessor. The Equipment shall remain personal property at
all times, notwithstanding the manner in which it may be affixed to realty. Lessee shall obtain and record such instruments and
take such steps as may be necessary to (i) prevent any creditor, landlord, mortgagee or other entity (other than Lessor) from having
any lien, charge, security interest or encumbrance on any Equipment, and (ii) ensure Lessor's right of access to and removal of
Equipment in accordance with the Lease.

 

(b) Additional Security.
To secure the punctual payment and performance of Lessee’s Obligations under each Lease and, as a separate grant of security,
to secure the payment and performance of all other Obligations owing to Lessor, Lessee grants to Lessor a continuing security interest
in the Collateral, provided, however, that if there then exists no Event of Default, Lessor’s security interest in
Collateral subject to a Lease shall terminate upon the payment and performance of all Obligations of Lessee under the applicable
Lease. Notwithstanding the grant of a security interest in any Collateral, Lessee shall have no right to sell, lease, rent, dispose
or surrender possession, use or operation of any Equipment to any third parties without the prior written consent of Lessor. The
foregoing grant of a security interest shall not of itself be a factor in determining whether any Lease creates a lease or security
interest in the Equipment under applicable provisions of the UCC.

 

11.Default. Each of the following
(a “Default”) shall, with the giving of any notice or passage of any time period specified, constitute an "Event
of Default" hereunder and under all Leases: (1) Lessee fails to pay any Rent or other amount owing under any Lease within
10 days of its due date; (2) Lessee fails to maintain insurance as required herein, or sells, leases, subleases, assigns, conveys,
or suffers to exist any lien, charge, security interest or encumbrance on, any Equipment without Lessor's prior consent, or any
Equipment is subjected to levy, seizure or attachment; (3) Lessee fails to perform or comply with any other covenant or obligation
under any Lease or Related Agreement and, if curable, such failure continues for 30 days after written notice thereof by Lessor
to Lessee; (4) any representation, warranty or other written statement made to Lessor by Lessee in connection with this Agreement,
any Lease, Related Agreement or other Obligation, or by any Guarantor pursuant to any Guaranty (including financial statements)
proves to have been incorrect in any material respect when made; (5) Lessee (w) enters into any merger or consolidation with, or
sells or transfers all or any substantial portion of its assets to, or enters into any partnership or joint venture other than
in the ordinary course of business with, any entity, (x) dies (if a natural person), dissolves, liquidates or ceases or suspends
the conduct of business, or ceases to maintain its existence, (y) if Lessee is a privately held entity, enters into or suffers
any transaction or series of transactions as a result of which Lessee is directly or indirectly controlled by persons or entities
not directly or indirectly controlling Lessee as of the date hereof, or (z) if Lessee is a publicly held entity, there shall be
a change in the ownership of Lessee's stock or other equivalent ownership interest such that Lessee is no longer subject to the
reporting requirements of, or no longer has a class of equity securities registered under, the Securities Act of 1933 or the Securities
Exchange Act of 1934; (6) Lessee undertakes any general assignment for the benefit of creditors or commences any voluntary case
or proceeding for relief under the federal bankruptcy code, or any other law for the relief of debtors, or takes any action to
authorize or implement any of the foregoing; (7) the filing of any petition or application against Lessee under any law for the
relief of debtors, including proceedings under the federal bankruptcy code, or for the subjection of property of Lessee to the
control of any court, receiver or agency for the benefit of creditors if such petition or application is consented to by Lessee
or is otherwise not dismissed within 60 days from the date of filing; (8) any default occurs and is continuing under any other
lease, credit or other agreement or instrument to which Lessee and Lessor or any Affiliate of Lessor are now or hereafter party,
which default (a) involves the failure to pay a matured obligation, or (b) permits the acceleration of the maturity of
obligations by Lessor or any Affiliate of Lessor with respect to such lease, credit or other agreement or instrument; (9) any default
occurs and is continuing under any other agreement or instrument to which Lessee is a party and under which there is outstanding,
owing or committed an aggregate amount greater than $1,000,000, which default (a) involves the failure to pay a matured obligation,
or (b) permits the acceleration of the maturity of obligations by any other party to or beneficiary with respect to such agreement
or instrument; (10) any attempted repudiation, breach or default of any Guaranty; or (11) the occurrence of any event described
in clauses (4) through (9) above with reference to any Guarantor or any controlling shareholder, general partner or member of Lessee.
Lessee shall promptly notify Lessor in writing of any Default or Event of Default.

 

    	3

     

    

 

12.Remedies. (a) Upon the occurrence
of an Event of Default, Lessor may, in its discretion, exercise any one or more of the following remedies with respect to any or
all Leases or Equipment: (1) cause Lessee to promptly discontinue use of or disable any Equipment, or to assemble and return any
Equipment or other Collateral in accordance with the terms of the applicable Lease; (2) remedy such Event of Default or proceed
by court action, either at law or in equity, to enforce performance of the applicable provisions of any Lease; (3) with or without
court order, enter upon the premises where Equipment is located and repossess and remove the same, all without liability for damage
to such premises or by reason such entry or repossession, except for Lessor's gross negligence or willful misconduct; (4) dispose
of any Equipment in a public or private transaction, or hold, use, operate or keep idle the Equipment, free and clear of any rights
or interests of Lessee therein; (5) recover direct, incidental, consequential and other damages for the breach of any Lease, including
the payment of all Rent and other amounts payable thereunder (discounted at the Discount Rate with respect to any accelerated future
amounts), and all costs and expenses incurred by Lessor in exercising its remedies or enforcing its rights thereunder (including
all Attorneys’ Fees); (6) by written notice to Lessee, cancel any Lease and, as liquidated damages for the loss of Lessor's
bargain and not as a penalty, declare immediately due and payable an amount equal to the Stipulated Loss Value applicable to such
Leases which Lessee acknowledges to be reasonable liquidated damages in light of the anticipated harm to Lessor that might be caused
by an Event of Default and the facts and circumstances existing as of the Acceptance Date of each Lease; (7) without notice to
Lessee, apply or set-off against any Obligations all security deposits, advance payments, proceeds of letters of credit, certificates
of deposit (whether or not matured), securities or other additional collateral held by Lessor or otherwise credited by or due from
Lessor to Lessee; or (8) pursue all other remedies provided under the UCC or other applicable law. Upon the commencement of any
voluntary case under the federal bankruptcy code concerning the Lessee, the remedy provided in clause (6) above shall be automatically
exercised without the requirement of prior written notice to Lessee or of any other act or declaration by Lessor, and the liquidated
damages described therein shall be immediately due and payable. Lessee shall pay interest equal to the lesser of (a) 12% per annum,
or (b) the highest rate permitted by applicable law (“Default Rate”) on (i) any amount other than Rent owing
under any Lease and not paid when due, (ii) Rent not paid within 30 days of its due date, and (iii) any amount required to be paid
upon cancellation of any Lease under this Section 12. Any payments received by Lessor after an Event of Default, including proceeds
of any disposition of Equipment, shall be applied in the following order: (A) to all of Lessor's costs (including Attorneys’
Fees), charges and expenses incurred in taking, removing, holding, repairing and selling or leasing the Equipment or other Collateral
or enforcing the provisions hereof; (B) to the extent not previously paid by Lessee, to pay Lessor for any damages then remaining
unpaid hereunder; (C) to reimburse Lessee for any sums previously paid by Lessee as damages hereunder; and (D) the balance, if
any, shall be retained by Lessor. For the avoidance of doubt, upon Lessee’s payment of the Stipulated Loss Value provide
for in this Section 12(a)(6) (if paid promptly upon demand and prior to exercise by Lessor of remedies under Section 12(a)(3) or
12(a)(4) following and during the continuance of any Event of Default hereunder), any Purchase Price provided for in the Schedules,
and any other amounts due and owing under the Leases, Lessee shall have purchased any undisposed Equipment on an "AS IS, WHERE
IS" quitclaim basis, without representations or warranties of any kind, express or implied and shall not be obligated to return
such Equipment to Lessor pursuant to the provisions of Sections 8 or 12 hereof.

 

(b) No remedy referred
to in this Section 12 shall be exclusive, each shall be cumulative (but not duplicative of recovery of any Obligation) and in addition
to any other remedy referred to above or otherwise available to Lessor at law or in equity, and all such remedies shall survive
the cancellation of any Lease. Lessor’s exercise or partial exercise of, or failure to exercise, any remedy shall not restrict
Lessor from further exercise of that remedy or any other available remedy. No extension of time for payment or performance of any
Obligation shall operate to release, discharge, modify, change or affect the original liability of Lessee for any Obligations,
either in whole or in part. Lessor may proceed against any Collateral or Guarantor, or may proceed contemporaneously or in the
first instance against Lessee, in such order and at such times following an Event of Default as Lessor determines in its sole discretion.
In any action to repossess any Equipment or other Collateral, Lessee waives any bonds and any surety or security required by any
applicable laws as an incident to such repossession. Notices of Lessor's intention to accelerate, acceleration, nonpayment, presentment,
protest, dishonor, or any other notice whatsoever (other than notices of Default specifically required of Lessor pursuant to Section
11 above) are waived by Lessee and any Guarantor. Any notice given by Lessor of any disposition of Collateral or other intended
action of Lessor which is given in accordance with this Agreement at least 5 business days prior to such action, shall constitute
fair and reasonable notice of such action.

 

13. Assignment. Lessor and any Assignee
may assign or transfer any of Lessor's interests in any Lease or Equipment without notice to Lessee, subject, however, to the rights
of Lessee to use and possess or purchase the Equipment under such Lease for so long as no Event of Default has occurred and is
continuing. Lessee agrees that: (i) the rights of any Assignee shall not be affected by any breach or default of Lessor or any
prior Assignee, and Lessee shall not assert any defense, rights of set-off or counterclaim against any Assignee, nor hold or attempt
to hold such Assignee liable for any such breach or default; (ii) no Assignee shall be required to assume any obligations of Lessor
under any Lease except the obligation of non-interference in Section 1 above, (iii) any Assignee expressly assuming the obligations
of Lessor shall thereupon be responsible for Lessor's duties under the applicable Lease accruing after assignment and Lessor shall
be released from such duties, and (iv) Lessee shall execute and deliver upon request such additional documents, instruments and
assurances as Lessor deems necessary in order to (y) acknowledge and confirm all of the terms and conditions of any Lease and Lessor's
or such Assignee’s rights with respect thereto, and Lessee’s compliance with all of the terms and provisions thereof,
and (z) preserve, protect and perfect Lessor’s or Assignee’s right, title or interest hereunder and in any Equipment,
including, without limitation, such UCC financing statements or amendments, control agreements, corporate or member resolutions,
votes, notices of assignment of interests, and confirmations of Lessee’s obligations and representations and warranties with
respect thereto as of the dates requested. Lessor may disclose to any potential Assignee any information regarding Lessee, any
Guarantor and their Affiliates. Lessee shall not assign, pledge, hypothecate or in any way dispose of any of its rights or obligations
under any Lease, or enter into any sublease of any Equipment, without Lessor's prior written consent. Any purported assignment,
pledge, hypothecation, disposal or sublease by Lessee made without Lessor’s prior written consent shall be null and void.

 

    	4

     

    

 

14.Financial and Other Data.
(a) During any Lease Term, Lessee shall (i) maintain books and records in accordance with generally accepted accounting principles
consistently applied (“GAAP”) and prudent business practice; (ii) promptly provide Lessor, within 120 days
after the close of each fiscal year, and, upon Lessor's request, within 45 days of the end of each quarter of Lessee's and any
Guarantor’s fiscal year, a copy of financial statements for Lessee and each Guarantor requested by Lessor, in each case
prepared in accordance with GAAP and (in the case of annual statements) audited by independent certified public accountants and
(in the case of quarterly statements) certified by the chief financial officer of Lessee or Guarantor, as applicable; provided,
however, that for so long as Lessee or any such Guarantor is legally and timely filing annual and quarterly financial reports
on Forms 10-K and 10-Q with the Securities and Exchange Commission which are readily available to the public, the filing of such
reports shall satisfy the foregoing financial statement reporting requirements for such entity; and (iii) furnish Lessor all other
financial information and reports and such other information as Lessor may reasonably request concerning Lessee, any Guarantor
and their respective affairs, or the Equipment or its condition, location, use or operation.

 

(b) Lessee represents
and warrants that all information and financial statements at any time furnished by or on behalf of Lessee or any Guarantor are
accurate and reasonably reflect as of their respective dates, results of operations and the financial condition of Lessee, such
Guarantor or other entity they purport to cover. Credit and other information regarding Lessee, any Guarantor or their Affiliates,
any Lease or Equipment may be disclosed by Lessor to its Affiliates, agents and potential Assignees, notwithstanding anything contained
in any agreement that may purport to limit or prohibit such disclosure.

 

15.Definitions

As used herein, the following
terms shall have the meanings assigned or referred to them below:

“Affiliate”
means any entity controlling, controlled by or under common control with the referent entity; “control” includes
(i) the ownership of 25% or more of the voting stock or other ownership interest of any entity and (ii) the status of a general
partner of a partnership or managing member of a limited liability company.

“Assignee”
means any assignee or transferee of all or any of Lessor’s right, title and interest in any Lease or any Equipment.

”Code”
means the Internal Revenue Code of 1986, as amended.

"Collateral"
means and includes all of Lessee's right, title and interest in and to all Equipment, together with: (i) all parts, attachments,
accessories and accessions to, substitutions and replacements for, each item of Equipment; (ii) all accounts, chattel paper, and
general intangibles arising from or related to any sale, lease, rental or other disposition of any Equipment to third parties,
or otherwise resulting from the possession, use or operation of any Equipment by third parties, including instruments, investment
property, deposit accounts, letter of credit rights, and supporting obligations arising thereunder or in connection therewith;
(iii) all insurance, warranty and other claims against third parties with respect to any Equipment; (iv) all software and other
intellectual property rights used in connection therewith; (v) proceeds of all of the foregoing, including insurance proceeds and
any proceeds in the form of goods, accounts, chattel paper, documents, instruments, general intangibles, investment property, deposit
accounts, letter of credit rights and supporting obligations; and (vi) all books and records regarding the foregoing, in each case,
now existing or hereafter arising.

“Discount Rate”
means the 1-year Treasury Constant Maturity rate as published in the Selected Interest Rates table of the Federal Reserve statistical
release H.15(519) for the week ending immediately prior to the original Acceptance Date of a Lease (or if such rate is no longer
determined or published, a successor or alternate rate selected by Lessor).

“Equipment”
means the items, units and groups of personal property, licensed materials and fixtures described in each Schedule, together with
all replacements, parts, additions, accessories and substitutions therefor; and “item of Equipment” means a
“commercial unit” as defined and described in Article 2A of the UCC, and includes each functionally integrated and
separately marketable group or unit of Equipment.

“Guarantor”
means any guarantor, surety, endorser, general partner or co-lessee of Lessee, or other party liable in any capacity, or providing
additional collateral security for, the payment or performance of any Obligations of Lessee.

“Guaranty”
means any guaranty, surety instrument, security, indemnity, “keep-well” agreement or other instrument or arrangement
from or with any Guarantor.

"Obligations"
means and includes all obligations of Lessee owing to Lessor under this Agreement, any Lease or Related Agreement, or of any Guarantor
owing to Lessor under any Guaranty, together with all other obligations, indebtedness and liabilities of Lessee to Lessor under
any other financings, leases, loans, notes, progress payment agreements, guaranties or other agreements, of every kind and description,
now existing or hereafter arising, direct or indirect, joint or several, absolute or contingent, whether for payment or performance,
regardless of how the same may arise or by what instrument, agreement or book account they may be evidenced, including without
limitation, any such obligations, indebtedness and liabilities of Lessee to others which may be obtained by Lessor through purchase,
negotiation, discount, transfer, assignment or otherwise.

“Related Agreement”
means and includes any Guaranty and any approval letter or progress payment, assignment, security or other agreement or addendum
related to this Agreement, any Lease or any Collateral to which Lessee or any Guarantor is a party.

“Stipulated Loss
Value” means, as of any particular date, the product obtained by multiplying the “Lessor’s Cost”
specified in the Schedule by the percentage set forth in the “Schedule of Stipulated Loss Values” attached to
the Schedule, specified opposite the Rent installment number (or date) becoming due immediately after the Casualty, Event of Default
or other event requiring the calculation of Stipulated Loss Value. If there is no Schedule of Stipulated Loss Values attached to
a Schedule, or if the Schedule of Stipulated Loss Values does not otherwise cover a Rent installment number (or date), Stipulated
Loss Value on any Rent payment date shall equal the net present value of: (a) all unpaid Rent for the remainder of the Lease Term,
plus (b) the amount of any purchase obligation, fixed price purchase option, or TRAC amount payment or, if there is no such
obligation, option or payment, then the fair market value of the Equipment as of the end of the Lease Term, as estimated by Lessor
in its sole discretion, all discounted to present value at the Discount Rate.

“UCC”
means the Uniform Commercial Code in effect in the state specified in Section 16(f) of this Agreement.

“Vendor”
means the manufacturer, distributor, supplier or other seller (whether or not a merchant or dealer) of the Equipment and any sales
representative or agent thereof.

 
  

    	5

     

    

 

16.Miscellaneous. (a) At Lessor's
request, Lessee shall execute, deliver, file and record such financing statements and other documents as Lessor deems necessary
to protect Lessor's interest in the Equipment and to effectuate the purposes of any Lease or Related Agreement, and Lessee authorizes,
and irrevocably appoints Lessor as its agent and attorney-in-fact, with right of substitution and coupled with an interest, to
(i) execute, deliver, file, and record any such item, and to take such action for Lessee and in Lessee's name, place and stead,
(ii) make minor corrections to manifest errors in factual data in any Schedule and any addenda, attachments, exhibits and riders
thereto, and (iii) after the occurrence of an Event of Default, enforce claims relating to the Equipment against insurers, Vendors
or other persons, and to make, adjust, compromise, settle and receive payment under such claims; but without any obligation to
do so.

 

(b)Federal law requires
all financial institutions to obtain, verify and record information that identifies each entity that obtains a loan or other financial
accommodation. The first time Lessee requests a financial accommodation from Lessor, the Lessor may ask for Lessee’s (or
any Guarantor’s) legal name, address, tax ID number and other identifying information. Lessee shall promptly provide copies
of business licenses or other documents evidencing the existence and good standing of Lessee or any Guarantor requested by Lessor.

 

(c) Time is of the essence
in the payment and performance of all of Lessee’s Obligations under any Lease or Related Agreement. This Agreement, and
each Lease or Related Agreement may be executed in one or more counterparts, each of which shall constitute one and the same agreement.
All demands, notices, requests, consents, waivers and other communications concerning this Agreement and any Lease or Related
Agreement shall be in writing and shall be deemed to have been duly given when received, personally delivered or three business
days after being deposited in the mail, first class postage prepaid, or the business day after delivery to an express carrier,
charges prepaid, addressed to each party at the address provided herein, or at such other address as may hereafter be furnished
in writing by such party to the other.

 

(d) Except as otherwise
agreed between Lessee and Lessor in writing, Lessee shall reimburse Lessor upon demand for costs and expenses incurred by Lessor
in connection with the execution and delivery of this Agreement, any Lease or Related Agreement. Lessee shall reimburse Lessor
on demand for all costs (including Attorneys’ Fees) incurred by Lessor in connection with Lessee’s exercise of any
purchase or extension option under any Lease, or any amendment or waiver of the terms of this Agreement or any Lease or Related
Agreement requested by Lessee.

 

(e) Any provisions of
this Agreement or any Lease or Related Agreement which are unenforceable in any jurisdiction shall, as to such jurisdiction, be
ineffective to the extent of such unenforceability without invalidating the remaining provisions thereof, and any such unenforceability
shall not render unenforceable such provisions in any other jurisdiction. Any requirement for the execution and delivery of any
document, instrument or notice may be satisfied, in Lessor’s discretion, by authentication as a record within the meaning
of, and to the extent permitted by, Article 9 of the UCC.

 

(f) THIS AGREEMENT AND
ANY LEASE OR RELATED AGREEMENT, AND THE LEGAL RELATIONS OF THE PARTIES THERETO, SHALL IN ALL RESPECTS BE GOVERNED BY AND CONSTRUED
IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO CHOICE OF LAW PRINCIPLES; THE PARTIES CONSENT AND SUBMIT
TO THE JURISDICTION OF THE STATE AND FEDERAL COURTS OF SUCH STATE FOR THE PURPOSES OF ANY SUIT, ACTION OR OTHER PROCEEDING ARISING
THEREFROM, AND EXPRESSLY WAIVE ANY OBJECTIONS THAT IT MAY HAVE TO THE VENUE OF SUCH COURTS. THE PARTIES EXPRESSLY WAIVE ANY RIGHT
TO TRIAL BY JURY IN ANY ACTION BROUGHT ON OR WITH RESPECT THERETO. IN NO EVENT SHALL LESSOR HAVE ANY LIABILITY TO LESSEE FOR INCIDENTAL,
GENERAL, CONSEQUENTIAL, PUNITIVE OR EXEMPLARY DAMAGES. Any cause of action by Lessee against Lessor relating to this Agreement
or any Lease or Related Agreement shall be brought within one year after any such cause of action first arises, and Lessee hereby
waives the benefit of any longer period provided by statute.

 

(g)EACH LEASE, TOGETHER WITH THIS AGREEMENT AND ANY RELATED AGREEMENTS,
(i) CONSTITUTES THE FINAL AND ENTIRE AGREEMENT BETWEEN THE PARTIES SUPERSEDING ALL CONFLICTING TERMS OR PROVISIONS OF ANY PRIOR
PROPOSALS, APPROVAL LETTERS, TERM SHEETS OR OTHER AGREEMENTS OR UNDERSTANDINGS BETWEEN THE PARTIES, (ii) MAY NOT BE CONTRADICTED
BY EVIDENCE OF (y) ANY PRIOR WRITTEN OR ORAL AGREEMENTS OR UNDERSTANDINGS, OR (z) ANY CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS
OR UNDERSTANDINGS BETWEEN THE PARTIES; and (iii) MAY NOT BE AMENDED, NOR MAY ANY RIGHTS THEREUNDER BE WAIVED, EXCEPT BY AN INSTRUMENT
IN WRITING SIGNED BY THE PARTY CHARGED WITH SUCH AMENDMENT OR WAIVER.

In Witness Whereof,
Lessor and Lessee have executed this Agreement as of the date first above written.

 

	
        BANC OF AMERICA LEASING & CAPITAL,
LLC

 (Lessor)
	Private National Mortgage Acceptance Company, LLC

 (Lessee)
	 	 
	
        By: /s/ Terri J. Preston

        Print Name: Terri J. Preston

        Title: Vice President

         
	
        By: /s/ Pamela Marsh

        Print Name: Pamela Marsh

        Title: Executive Vice President,
        Treasurer

        Taxpayer ID # : 80-00882793

        Org. ID # (if any) _______________________

        Chief Executive Office:

        6101 Condor Dr.

        Moorpark, CA 93021

 

    	6

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