Document:

Fourth Amended and Restated EXCO Resources, Inc. Severance Plan

 Exhibit 10.1 
 FOURTH AMENDED AND RESTATED 
 EXCO RESOURCES, INC. 

SEVERANCE PLAN 
 (EFFECTIVE AS OF MARCH 16, 2011) 
  

 TABLE OF CONTENTS 

 

							
	Section	  	Page	 
		
	 ONE PURPOSE OF PLAN
	  	 	1	  
	 TWO PRIOR SEVERANCE ARRANGEMENTS
	  	 	1	  
	 THREE DEFINITIONS
	  	 	1	  
	 FOUR ELIGIBILITY AND SEVERANCE PAY BENEFITS
	  	 	5	  
	4.1	  	 Eligibility
	  	 	5	  
	4.2	  	 Release Form
	  	 	5	  
	4.3	  	 Termination of Eligibility for Severance Pay
	  	 	5	  
	4.4	  	 Severance Pay
	  	 	5	  
	 FIVE FUNDING
	  	 	6	  
	 SIX CLAIMS PROCEDURE
	  	 	6	  
	6.1	  	 Filing and Initial Determination of Claim
	  	 	6	  
	6.2	  	 Duty of Plan Administrator Upon Denial of Claim
	  	 	6	  
	6.3	  	 Request for Review of Claim Denial
	  	 	6	  
	6.4	  	 Decision on Review of Denial
	  	 	7	  
	 SEVEN ADMINISTRATION OF THE PLAN
	  	 	7	  
	7.1	  	 Plan Administrator
	  	 	7	  
	7.2	  	 Responsibilities
	  	 	7	  
	7.3	  	 Allocation and Delegation of Plan Administrator Responsibilities
	  	 	7	  
	7.4	  	 Actions of Fiduciaries
	  	 	8	  
	7.5	  	 General Administrative Powers
	  	 	8	  
	7.6	  	 Appointment of Professional Assistance
	  	 	9	  
	7.7	  	 Discretionary Acts
	  	 	9	  
	7.8	  	 Responsibility of Fiduciaries
	  	 	9	  
	7.9	  	 Indemnity by Employer
	  	 	9	  
	 EIGHT ADOPTION OF PLAN BY SUBSIDIARY
	  	 	9	  
	 NINE AMENDMENT OF THE PLAN
	  	 	10	  
	 TEN TERMINATION OF THE PLAN
	  	 	10	  
	 ELEVEN VESTING
	  	 	10	  
	 TWELVE STATUS OF EMPLOYMENT RELATIONS
	  	 	10	  
	 THIRTEEN RESTRICTIONS ON ASSIGNMENT
	  	 	11	  
	 FOURTEEN APPLICABLE LAW
	  	 	11	  
	 FIFTEEN INTERPRETATION OF THE PLAN
	  	 	11	  

  
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 FOURTH AMENDED AND RESTATED 

EXCO RESOURCES, INC. 
 SEVERANCE PLAN 
 EXCO RESOURCES, INC. (the “Company”) is amending
and restating its severance plan, originally adopted on August 15, 2002, amended and restated as of August 17, 2004, further amended and restated as of November 8, 2006, further amended and restated as of November 14, 2007, and
further amended and restated as of March 16, 2011 (the “Effective Date”), in accordance with the terms and conditions contained herein. The amended and restated severance plan adopted on November 14, 2007, is replaced in its
entirety with this Fourth Amended and Restated EXCO Resources, Inc. Severance Plan (the “Plan”) and no provision of the November 14, 2007, plan shall survive. 
 SECTION ONE 
 PURPOSE OF PLAN 

The purpose of the Plan is to provide financial support to Eligible Employees who incur a Termination of Employment due to a Change of
Control. 
 SECTION TWO 
 PRIOR SEVERANCE ARRANGEMENTS 
 As of the Effective Date, the Plan replaces
any and all severance pay obligations, plans, policies, practices, arrangements or programs, written or unwritten, under which the Eligible Employees may otherwise be eligible for severance benefit payments. Notwithstanding the foregoing provisions
of this Section Two, nothing in this Plan shall adversely affect the rights an individual Eligible Employee may have to severance payments under any written agreement executed by and between the Employer and that Eligible Employee (a “Severance
Agreement”); provided, however, that in the event any Eligible Employee that is a party to a Severance Agreement suffers a Termination of Employment and is entitled to and is receiving the severance benefits intended to be provided under his or
her Severance Agreement, such Eligible Employee shall not be entitled to receive severance benefits pursuant to this Plan. 

SECTION THREE 

DEFINITIONS 
 As used in the Plan: 
 3.1 “Base Pay” shall mean the Eligible
Employee’s gross annual salary or wages before any deductions, exclusions or any deferrals or contributions under any Company plan or program, but excluding overtime, bonuses, incentive compensation, shift and lead premium payments, employee
benefits or any other form of compensation, being received by an Eligible Employee immediately prior to employment termination. The Base Pay for an Eligible Employee paid on an hourly basis shall be the individual’s hourly pay rate in effect
immediately prior to the sale multiplied by 40 hours per week and 

 
multiplied by 52 weeks. Notwithstanding anything to the contrary contained herein, for purposes of determining an Eligible Employee’s Base Pay under this Plan if the Termination of
Employment is due to a Good Reason event set forth in Section 3.10(i) of this Plan, Base Pay means the Eligible Employee’s Base Pay immediately prior to the occurrence of the Good Reason event. 

3.2 “Cause” shall mean (i) the willful breach or habitual neglect of assigned duties related to the Company, including
compliance with Company policies; (ii) conviction (including any plea of nolo contendere) of the Eligible Employee of any felony or crime involving dishonesty or moral turpitude; (iii) any act of personal dishonesty knowingly taken by the
Eligible Employee in connection with his or her responsibilities as an employee and intended to result in personal enrichment of the Eligible Employee or any other person; (iv) bad faith conduct that is materially detrimental to the Company;
(v) inability of the Eligible Employee to perform the Employee’s duties due to alcohol or illegal drug use; (vi) the Eligible Employee’s failure to comply with any legal written directive of the Board of Directors of the Company;
(vii) any act or omission of the Eligible Employee which is of substantial detriment to the Company because of the Eligible Employee’s intentional failure to comply with any statute, rule or regulation, except any act or omission believed
by the Eligible Employee in good faith to have been in or not opposed to the best interest of the Company (without intent of the Eligible Employee to gain, directly or indirectly, a profit to which the Eligible Employee was not legally entitled) and
except that Cause shall not mean bad judgment or negligence other than habitual neglect of duty; or (viii) any other act or failure to act or other conduct which is determined by the Plan Administrator, in its sole discretion, to be
demonstrably and materially injurious to the Employer, monetarily or otherwise. 
 3.3 “Change of Control” shall mean

 (i) the Company is merged or consolidated into or with another entity, and as a result of such merger or
consolidation less than a majority of the combined voting power of the then-outstanding securities of such entity immediately after such transaction is held by the holders of Voting Stock of the Company immediately prior to such transaction;

 (ii) the Company sells or otherwise transfers all or substantially all of its assets to any person or entity,
and less than a majority of the combined voting power of the then-outstanding securities of such person or entity immediately after such sale or transfer is held by the holders of Voting Stock of the Company immediately prior to such sale or
transfer; or 
 (iii) any “person” (as such term is used in Sections 13(d) and 14(d) of the Exchange
Act) is or becomes the beneficial owner (as defined in Rules 13d-3 and 13d-5 under the Exchange Act, except that for purposes of this clause (iii) such person shall be deemed to have “beneficial ownership” of all shares that any such
person has the right to acquire, whether such right is exercisable immediately or only after the passage of time, directly or indirectly, of more than 50% of the total voting power of the Voting Stock of the Company; or 

(iv) individuals who on the Effective Date constituted the Board of Directors of the Company (together with any new
directors whose election by such Board of Directors of the Company or whose nomination for election by the shareholders of the Company was approved by a vote of 66-2/3% of the directors of the Company then still in office who were either directors
on the Effective Date or whose election or nomination for election was previously so approved) cease for any reason to constitute a majority of the Board of Directors of the Company then in office; or 

(v) the adoption of a plan relating to the liquidation or dissolution of the Company. 

  
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 Provided, however, that in the event any subsidiary of the Company is spun off by means of a
rights offering to the Company’s shareholders or an underwritten public offering, or any combination thereof, even where less than a majority of the voting equity ownership is retained by the Company, shall not in any event constitute a Change
of Control. 
 3.4 “Company” shall mean EXCO Resources, Inc. 

3.5 “Comparable Offer of Employment” shall mean: 

(i) that the proposed compensation and benefits, in the aggregate, to be paid by the Company or any successor to the
Company by merger or acquisition of all or substantially all of the Company’s assets, offering employment are commensurate with the compensation and benefits previously paid by the Company, in the aggregate, to such Eligible Employee;

 (ii) the Eligible Employee incurs no demotion in his or her position with the Employer from the position the
Eligible Employee held immediately prior to the effective date of the Change of Control; 
 (iii) the Eligible
Employee incurs no significant adverse change in the nature or scope of the authorities, powers, functions, responsibilities or duties attached to the position or positions with the Employer which the Eligible Employee held immediately prior to the
effective date of the Change of Control, without the prior written consent of the Eligible Employee, which is not remedied within ten (10) calendar days after receipt by the Employer of written notice from the Eligible Employee of such change;
and 
 (iv) the Eligible Employee’s principal place of work has not changed to any location that is more
than thirty-five (35) miles from his or her principal place of work immediately prior to the effective date of the Change of Control, without the prior written consent of the Eligible Employee. 

3.6 “Eligible Employee” shall mean any employee employed by the Company or any subsidiary of the Company as a regular,
full-time employee on the effective date of a Change of Control and who incurs a Termination of Employment due to a Change of Control either on the date of the Change of Control or within the twelve-month period immediately following the effective
date of the Change of Control and such Termination of Employment was not for Cause. 
 3.7 “Employer” shall mean the
Company and any direct or indirect United States subsidiary of the Company which adopts the Plan, and any successor to either the Company or any direct or indirect United States subsidiary of the Company which adopted this Plan. 

3.8 “ERISA” shall mean the Employee Retirement Income Security Act of 1974, as amended from time to time. References to any
Section of ERISA shall include any successor provision thereto. 
 3.9 “Exchange Act” shall mean the Federal
Securities Exchange Act of 1934, as amended from time to time. 
 3.10 “Good Reason” shall mean any of the following
events that occur either on the effective date of a Change of Control or within the twelve-month period immediately following the effective date of a Change of Control: 

  
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 (i) the Eligible Employee, without his or her consent, incurs a material
reduction in his or her Base Pay from his or her Base Pay immediately prior to the effective date of a Change of Control; 
 (ii) the Eligible Employee’s principal place of work changed to any location that is more than thirty-five (35) miles from his or her principal place of work immediately prior to the effective
date of the Change of Control, without the prior written consent of the Eligible Employee. 
 Notwithstanding anything to the
contrary contained herein, a termination of employment for “Good Reason” shall occur only if the Eligible Employee provides written notice to the Company of the occurrence of the event described in this Section 3.10 that constitutes
“Good Reason” within 30 days of the event’s initial existence, the Company fails to remedy the event within 30 days of its receipt of such notice and the Eligible Employee terminates his or her employment no later than 30 days
following the end of such cure period. 
 3.11 “Internal Revenue Code” shall mean the Internal Revenue Code of 1986,
as amended from time to time. References to any Section of the Internal Revenue Code shall include any successor provision thereto. 
 3.12 “Plan” shall mean the Fourth Amended and Restated EXCO Resources, Inc. Severance Plan as set forth in this document, and as hereafter amended. 

3.13 “Plan Administrator” shall mean the person, persons or entity administering the Plan in accordance with the provisions of
Section Seven hereof. The Plan Administrator shall be the “named fiduciary,” as referred to in Section 402(a) of ERISA, with respect to the management, operation and administration of the Plan. 

3.14 “Plan Year” shall mean the twelve (12)-month period ending on each December 31. 

3.15 “Release Form” shall mean a release agreement which is to be signed by the Eligible Employee releasing any and all claims
against the Employer and which is in such form as approved by the Company. 
 3.16 “Severance Pay” shall mean an
amount equal to 1.25 times an Eligible Employee’s Base Pay. 
 3.17 “Termination of Employment” shall mean a
termination of employment from the Employer which results from an affirmative discharge from employment by the Employer, other than discharge for Cause. An Eligible Employee who voluntarily terminates employment for Good Reason shall be deemed to
have incurred a Termination of Employment. An Eligible Employee shall not be deemed to have incurred a Termination of Employment by reason of the transfer of the Eligible Employee’s employment between the Company and any subsidiary or among
subsidiaries (or among any department or business unit of the Company). The Plan Administrator shall determine, in its sole discretion, whether an Eligible Employee’s termination of employment from the Employer constitutes a “Termination
of Employment.” 
 3.18 “Voting Stock” shall mean shares of the Company’s Common Stock, par value $0.001 per
share, and any other securities of the Company entitled to vote for the election of directors. 

  
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 3.19 Wherever appropriate, words used in the Plan in the singular may mean the plural, the
plural may mean the singular, and the masculine may mean the feminine. 
 SECTION FOUR 

ELIGIBILITY AND SEVERANCE PAY BENEFITS 
 4.1 Eligibility. Subject to Sections 4.3 and 4.4 of this Plan, any Eligible Employee is eligible for Severance Pay following his or her Termination of Employment if such Termination of Employment
occurs either on the effective date of a Change of Control or within the twelve-month period immediately following the effective date of a Change of Control, provided that such Eligible Employee executes a Release Form pursuant to Section 4.2
of this Plan. 
 4.2 Release Form. An Eligible Employee otherwise eligible for Severance Pay under
this Plan shall be paid such Severance Pay only if the Eligible Employee executes and files the appropriate fully completed and executed Release Form (substantially in the form of Exhibit A-1 or Exhibit A-2, as the case may be, attached hereto) with
the Plan Administrator, in accordance with the instructions and on or before the forty-fifth (45th) day following the date of his or her Termination of Employment, and in the case of an Eligible Employee age 40 or over, does not revoke the Release Form within seven (7) days of executing the
Release Form. 
 4.3 Termination of Eligibility for Severance Pay. An Eligible Employee will cease to be eligible to
receive Severance Pay, under this Plan upon the earlier of the following: 
  

	 	(a)	the Eligible Employee’s death, unless it occurs after the date the Release Form is executed; 

 

	 	(b)	the Eligible Employee’s discharge for Cause or misconduct; 

  

	 	(c)	the Eligible Employee’s failure to execute and file the Release Form by the date specified above; 

 

	 	(d)	the Eligible Employee’s receipt of a Comparable Offer of Employment from any other operation of the Company or any of its affiliate organizations, regardless of
whether such Eligible Employee accepts such offer; or 

  

	 	(e)	the Eligible Employee’s receipt and acceptance of a transfer of employment to any other operation of the Company or any of its affiliate organizations.

 4.4 Severance Pay. The Severance Pay to which an Eligible Employee is entitled shall
be paid to such Employee after the effective date of a Change of Control in cash in a lump sum on the sixtieth
(60th) day following his or her Termination of
Employment (the “Payment Date”), provided that he or she has returned an executed Release Form (and, where applicable, has not revoked the Release Form) prior to the Payment Date. If an Eligible Employee fails to return an executed Release
Form to the Company within forty-five (45) days following his or her Termination of Employment, such Eligible Employee’s rights to Severance Pay shall be immediately forfeited and he or she shall not be entitled to any payments pursuant to
this Plan. 

  
 5 

 If an Eligible Employee dies following execution of the Release Form, but before receiving
all or part of the Severance Pay to which he or she is entitled, the Plan Administrator shall pay such Eligible Employee’s Severance Pay to the Eligible Employee’s estate. 

SECTION FIVE 

FUNDING 

Funding for this Plan shall come solely from the general assets of the Employer. All payments of Severance Pay shall be paid from the
general assets of the Employer. Neither the Employer nor the Plan Administrator shall have any obligation to establish a trust or fund for the payment of benefits under the Plan or to insure any of the benefits under the Plan. None of the officers,
members of the Board of Directors, or agents of the Employer or the Plan Administrator guarantees in any manner the payment of benefits hereunder. 
 SECTION SIX 
 CLAIMS PROCEDURE 

6.1 Filing and Initial Determination of Claim. An Eligible Employee or his/her duly authorized representative may file a claim for
a benefit to which the claimant believes that he or she is entitled. Such a claim must be in writing and delivered to the Plan Administrator by postage prepaid certified mail. Within fifteen (15) days after receipt of a claim, the Plan
Administrator shall send to the claimant by certified mail, postage prepaid, notice of the granting or denying, in whole or in part, of such claim, unless special circumstances require an extension of time for processing the claim. In no event may
the extension exceed fifteen (15) days from the end of the initial period. If such extension is necessary, the claimant will be given a written notice to this effect prior to the expiration of the initial 15-day period. The extension notice
shall indicate the special circumstances requiring an extension of time and the date by which the Plan expects to render the benefit determination. The Plan Administrator shall have full discretion to deny or grant a claim in whole or in part. If
notice of the denial of a claim is not furnished in accordance with this Section 6.1, the claim shall be deemed denied and the claimant shall be permitted to exercise his/or right to review pursuant to Section 6.3. 

6.2 Duty of Plan Administrator Upon Denial of Claim. If a claim for benefits is denied, the Plan Administrator shall provide to
the claimant written notice setting forth in a manner calculated to be understood by the claimant: (i) the specific reason or reasons for the denial; (ii) specific reference to pertinent Plan provisions on which the denial is based;
(iii) a description of any additional material or information necessary for the claimant to perfect the claim and an explanation of why such material is necessary; and (iv) a description of the Plan’s claims review procedure and the
time limits applicable to such procedures, including a statement of the claimant’s right to bring a civil action under Section 502(a) of ERISA following a denial of the claim on review. 

6.3 Request for Review of Claim Denial. If an Eligible Employee receives written notification of the denial in whole or in part of
his/her claim pursuant to Section 6.1, within sixty (60) days of the Eligible Employee’s receipt of claim denial or the date the employee becomes aware that he or she is not eligible for benefits under this Plan, if the claimant
disagrees with such action, the claimant or his/her authorized representative shall file a written request with the Plan Administrator that it conduct a full and fair review of the denial of the claim for benefits. In connection with any request for
a review of 

  
 6 

 
the denial of a claim for benefits, the claimant shall have the opportunity to submit written comments, documents, records, and other information relating to the claim for benefits. The Plan
Administrator shall provide the claimant, upon request and free of charge, reasonable access to, and copies of, all documents, records, and other information relevant to the claimant’s claim for benefits. A document, record, or other
information shall be considered “relevant” to a claim for benefits if that document, record or other information: (i) was relied upon in making the benefit determination; (ii) was submitted, considered, or generated in the course
of making the benefit determination, without regard to whether such document, record or other information was relied upon in making the benefit determination; or (iii) demonstrates compliance with the administrative process and safeguards
required by ERISA in making the benefit determination. The review of a denial shall take into account all comments, documents, records, and other information submitted by the claimant, without regard to whether such information was submitted or
considered in the initial benefit determination. 
 6.4 Decision on Review of Denial. Upon receipt of the request for
review, the Plan Administrator shall review the claim and shall deliver to the claimant a written decision on the claim for benefits within sixty (60) days after the receipt of the aforesaid request for review, except that if there are special
circumstances (such as the need to hold a hearing, if necessary) that require an extension of time for processing, the aforesaid sixty (60) day period shall be extended to one hundred twenty (120) days and the claimant will be given
written notice of the extension prior to the expiration of the initial 60-day period. In no event shall such extension exceed a period of sixty (60) days from the end of the initial 60-day period. The extension notice shall indicate the special
circumstances requiring an extension of time and the date by which the Plan expects to render the determination on review. 

The Plan Administrator’s decision shall be written in a manner calculated to be understood by the claimant. Any notice of a denial
on review shall include (i) the specific reason or reasons for the denial on review; (ii) reference to the specific plan provisions on which the denial is based; (iii) a statement that the claimant is entitled to receive, upon request
and free of charge, reasonable access to, and copies of all documents, records, and other information relevant to the claimant’s claim for benefits; and (iv) a statement of the claimant’s right to bring an action under
Section 502(a) of ERISA. If notice of the decision on the review is not furnished in accordance with this Section 6.4, the claim shall be deemed denied and the Plan Administrator will have no further duty to review such claim. 

SECTION SEVEN 

ADMINISTRATION OF THE PLAN 
 7.1 Plan Administrator. The Plan Administrator hereunder shall be the Compensation Committee as appointed from time to time by the Board of Directors of the Company. 

7.2 Responsibilities. The Plan Administrator shall be the “administrator” (as defined in Section 3(16)(A) of ERISA)
of the Plan, and shall be responsible for all obligations under the Internal Revenue Code and ERISA and all other obligations required or permitted to be performed by the Plan Administrator and not otherwise delegated pursuant to the Plan. The Plan
Administrator shall be the designated agent for service of legal process. 
 7.3 Allocation and Delegation of Plan
Administrator Responsibilities. The Plan Administrator may appoint such assistants or representatives as it deems necessary for the effective exercise of its duties in administering the Plan and may delegate to such assistants and
representatives any powers and duties, both ministerial and discretionary, as it deems expedient or appropriate. The Plan 

  
 7 

 
Administrator also may designate any person, firm or corporation to carry out any of the other responsibilities of the Plan Administrator under the Plan. Any such allocation or designation shall
be made pursuant to a written instrument executed by the Plan Administrator. 
 7.4 Actions of Fiduciaries. The Plan
Administrator may authorize or approve any action by written instrument signed by a person duly authorized to act on behalf of the Plan Administrator. Any written memorandum signed by any such duly authorized person or by any other person duly
authorized by the Plan Administrator to act in respect of the subject matter of the memorandum, shall have the same force and effect as a formal resolution adopted by the Plan Administrator. 

All acts and determinations with respect to the administration of the Plan made by the Plan Administrator and any assistants or
representatives appointed by it shall be duly recorded by the Plan Administrator or by the assistant or representative appointed by it to keep such records. All records, together with such other documents as may be necessary for the administration
of the Plan, shall be preserved in the custody of the Plan Administrator or the assistants or representatives appointed by it. 

7.5 General Administrative Powers. Except as otherwise provided herein, the Plan Administrator is authorized to take such actions
as may be necessary to carry out the provisions and purposes of the Plan and shall have the authority to control and manage the operation and administration of the Plan. In order to effectuate the purposes of the Plan, the Plan Administrator shall
have the discretionary authority and power to construe and interpret the Plan, to supply any omissions therein, to reconcile and correct any errors or inconsistencies, to decide any questions in the administration and application of the Plan, and to
make equitable adjustments for any mistakes or errors made in the administration of the Plan. All such actions or determinations made in good faith by the Plan Administrator, and the application of rules and regulations to a particular case or issue
by the Plan Administrator shall, subject to the claims procedures set forth in Section Six hereof, not be subject to review by anyone, but shall be final, binding and conclusive on all persons ever interested hereunder. In construing the Plan and in
exercising its power under provisions requiring the Plan Administrator’s approval, the Plan Administrator shall attempt to ascertain the purpose of the provisions in question and when such purpose is known or reasonably ascertainable, such
purpose shall be given effect to the extent feasible. In the discharge of this discretionary authority the Plan Administrator shall have all necessary powers and duties, including but not limited to the following: 

(a) to require any person to furnish such information as is reasonably necessary or appropriate for administration of the
Plan as a condition to receiving benefits under the Plan; 
 (b) to make such rules and regulations and prescribe
the use of such forms as he or she shall deem necessary for the efficient administration of the Plan; 
 (c) to
establish or cause to be established such procedures, protocols and guidelines as he or she shall deem necessary to interpret the terms and conditions of the Plan; 

(d) to decide on questions concerning Plan eligibility, Years of Employment and employment termination in accordance with
the terms of the Plan; 
 (e) to determine the amount of benefits payable to an Eligible Employee, in accordance
with the Plan, and to provide a full and fair review to any Eligible Employee whose claim for benefits has been denied in whole or in part; and 

  
 8 

 (f) to designate other persons to carry out any duty or power which would
otherwise be a fiduciary responsibility of the Plan Administrator, under the terms of the Plan. 
 7.6 Appointment of
Professional Assistance. The Plan Administrator may engage accountants, attorneys and such other personnel as it deems necessary or advisable. The functions of any such persons engaged by the Plan Administrator shall be limited to the specific
services and duties for which they are engaged, and such persons shall have no other duties, obligations or responsibilities under the Plan. Unless otherwise specifically so delegated, such persons shall exercise no discretionary authority or
discretionary control respecting the management of the Plan. 
 7.7 Discretionary Acts. Any discretionary actions of the
Plan Administrator with respect to the administration of the Plan shall be made in a manner which does not discriminate in favor of stockholders, officers and highly compensated employees. 

7.8 Responsibility of Fiduciaries. The Plan Administrator and its assistants and representatives shall be free from all liability
for their acts and conduct in the administration of the Plan except for acts of gross negligence, fraud or willful misconduct; provided, however, that the foregoing shall not relieve any of them from any responsibility or liability for any
responsibility, obligation or duty that they may have pursuant to ERISA. 
 7.9 Indemnity by Employer. In the event and
to the extent not insured against by any insurance company pursuant to provisions of any applicable insurance policy, the Employer shall indemnify and hold harmless the Plan Administrator and its assistants and representatives from any and all
claims, demands, suits or proceedings in connection with the Plan that may be brought by the Employer’s employees or their legal representatives, or by any other person, corporation, entity, government or agency thereof, including any amounts
paid in settlement, with the approval of the Plan Administrator, and any and all other losses, damages, interest, expenses, including counsel fees approved by the Plan Administrator, and penalties, including any penalties imposed by the Secretary of
Labor pursuant to Section 502(l) of ERISA relating to any breaches of fiduciary responsibility under Part 4 of Title I of ERISA, arising from any action or failure to act, except where the same is judicially determined to be due to
gross negligence, fraud, or willful misconduct of such individual in connection with the Plan. The indemnification contained in this Section shall apply regardless of whether the event causing the liability arises in whole or in part from the
negligence (other than judicially determined gross negligence) or other fault on the part of the individual, specifically including breaches of fiduciary responsibility under ERISA. 

SECTION EIGHT 
 ADOPTION OF PLAN BY SUBSIDIARY 
 Any subsidiary of the Company, whether or
not presently existing, may, with the approval of the Plan Administrator, adopt this Plan. Any such subsidiary that adopts the Plan is thereafter an Employer with respect to its employees for purposes of the Plan. 

  
 9 

 SECTION NINE 
 AMENDMENT OF THE PLAN 
 The Plan Administrator may amend the Plan at any
time and in any manner with respect to all of the Employees. Any amendment to this Plan shall be effectuated by a written instrument signed by the Plan Administrator and shall be incorporated into the Plan document. Any amendment or restatement may
be made retroactive if, in the judgment of the Plan Administrator, such retroactivity is necessary or advisable for any reason. Notwithstanding the above, this Plan may not be terminated or amended within twelve months following a Change of Control.

 SECTION TEN 
 TERMINATION OF THE PLAN 
 Continuance of the Plan is not assumed as a
contractual obligation of the Employer, and the Plan Administrator reserves the right to terminate the Plan at any time. Notwithstanding the above, this Plan may not be terminated or amended within twelve months following a Change of Control. Such
termination may occur without consent being obtained from the Plan Administrator, Eligible Employees or any other interested person. The Plan shall automatically terminate upon dissolution of the Company, unless provision is specifically made by its
successors, if any, for the continuation of the Plan. If not sooner terminated, this Plan shall terminate when all liabilities provided for hereunder have been fully discharged. 

SECTION ELEVEN 
 VESTING 
 No Eligible Employee shall have a vested right to any benefit
under this Plan prior to the time a determination is made by the Plan Administrator that the particular Eligible Employee is entitled to receive benefits under the Plan. At any time prior to such determination the Plan may be amended or terminated
with respect to any benefits to which such Eligible Employee would otherwise have been entitled. 
 SECTION TWELVE

 STATUS OF EMPLOYMENT RELATIONS 
 The adoption and maintenance of the Plan shall not be deemed to constitute a contract between any Employer and its employees or to be consideration for, or an inducement or condition of, the employment of
any person. Nothing herein contained shall be deemed (i) to give to any employee the right to be retained in the employ of the Employer; (ii) to affect the right of the Employer to discipline or discharge any employee at any time;
(iii) to give the Employer the right to require any employee to remain in its employ; or (iv) to affect any employee’s right to terminate his or her employment at any time. 

  
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 SECTION THIRTEEN 

RESTRICTIONS ON ASSIGNMENT 
 The benefits provided hereunder are not subject in any manner to the debts or other obligations of the persons to whom they are payable. The interest of an Eligible Employee may not be sold, transferred,
assigned or encumbered in any manner, either voluntarily or involuntarily, and any attempt so to anticipate, alienate, sell, transfer, assign, pledge, encumber, or charge the same shall be null and void. 

SECTION FOURTEEN 
 APPLICABLE LAW 
 To the extent not preempted by ERISA, the Plan shall be
construed, regulated, interpreted and administered under and in accordance with the laws of the State of Texas. 
 SECTION
FIFTEEN 
 INTERPRETATION OF THE PLAN 
 It is the intention of the Employers that the Plan shall comply with the Internal Revenue Code, and the regulations thereunder, the requirements of ERISA and the corresponding provisions of any subsequent
laws; the provisions of the Plan shall be construed to effectuate such intention. 
 The payments made under this Plan are
intended to be exempt from Section 409A of the Internal Revenue Code (“Section 409A”) by reason of the “short-term deferral” exception or the “separation pay plan” exception under Section 409A, and the
provisions of this Plan will be administered, interpreted and construed accordingly. Without limiting the generality of the foregoing, the term Termination of Employment or any similar term used herein will be interpreted to mean “separation
from service” within the meaning of Section 409A to the extent necessary to comply with Section 409A. 

  
 11 

 IN WITNESS WHEREOF, EXCO Resources, Inc. has caused the Plan to be signed by its duly
authorized officer on this 16th day of March, 2011. 
  

			
	EXCO RESOURCES, INC.
		
	By:	 	     /s/ Douglas H. Miller

		
	Its:	 	Chief Executive Officer

  
 12 

 Exhibit A-1 

40+ 

RELEASE AGREEMENT 
 IN
RETURN FOR THE CONSIDERATION of payment of severance benefits to me from EXCO Resources, Inc. (“EXCO”) in accordance with EXCO Resources, Inc. Severance Plan, I am entering into this Release Agreement. I understand and agree that the
severance payment is in addition to the other (non-severance) benefits to which I may be entitled under the normal policies and procedures applicable to employees of EXCO as a result of my termination of employment from EXCO. 

I,
                                        ,
on behalf of myself, my heirs, executors, successors and assigns hereby irrevocably and unconditionally RELEASE, WAIVE, AND FOREVER DISCHARGE EXCO and all of its parents, divisions, subsidiaries and affiliates, and their present and former agents,
employees, officers, directors, partners, stockholders, successors and assigns (hereinafter collectively “Releasees”) from any and all claims, demands, actions and causes of action, and all liability whatsoever, whether known or unknown,
fixed or contingent, which I have or may have against Releasees as a result of my employment by or subsequent termination as an employee of EXCO, or failure to be hired by any Releasee, up to the date of execution of this Release Agreement.
This Release Agreement includes but is not limited to claims at law or equity or sounding in contract (express or implied) or tort arising under federal, state or local laws prohibiting age, sex, race, national origin, disability, religion, veteran
or any other forms of discrimination (including but not limited to Title VII of the Civil Rights Act of 1964, the Rehabilitation Act of 1973, the Americans with Disabilities Act, as well as applicable state fair employment practices laws),
claims arising under the Fair Labor Standards Act, the National Labor Relations Act, the Worker Adjustment and Retraining Notification Act, the Family and Medical Leave Act, the Employee Retirement Income Security Act, or any other legal and
equitable claims regarding my employment with EXCO, the continuation of employment or the termination of said employment. 
 I understand and
agree that this Release Agreement shall not in any way be construed as an admission by Releasees of any unlawful or wrongful acts whatsoever against me or any other person, and Releasees specifically disclaim any liability to or wrongful acts
against me or any other person. 
 I acknowledge that I have been advised in writing by EXCO that I should consult an attorney prior to
executing this Release Agreement, and I further acknowledge that I have been given a period of forty-five (45) calendar days after my termination by EXCO within which to review and consider the provisions of this Release Agreement. 

I acknowledge that I have been given information regarding the ages and job titles of persons affected and unaffected by these terminations of
employment. 
 I understand and acknowledge that I have seven (7) calendar days following the execution of this Release Agreement to revoke
my acceptance of this Release Agreement and that this Release Agreement shall not become effective and the severance shall not become payable until this revocation period has expired. In order to revoke this Release Agreement, I acknowledge that I
am required to deliver written notice clearly stating my intent to revoke to [Insert Name and Address of Contact Person at Company]. I agree that my notice will not be considered effective unless [Mr./Ms. Insert Name], or a
representative designated by EXCO, receives it within the seven calendar days following my execution of this Release Agreement. 

  
 13 

 I understand it is my choice whether or not to enter into this Release Agreement and that my decision to do
so is voluntary and made knowingly. 
 Please read carefully as this document includes a release of claims. 

As evidenced by my signature below, I hereby certify that I have read the above Release Agreement and agree to its terms. 

Dated this      day of
                    , 20    . 
  

					
	  
	 		 	  

	WITNESS	 		 	EMPLOYEE SIGNATURE

  
 14 

 Exhibit A-2 

Under 40 

RELEASE AGREEMENT 
 IN
RETURN FOR THE CONSIDERATION of payment of severance benefits to me from EXCO Resources, Inc. (“EXCO”) in accordance with the EXCO Resources, Inc. Severance Plan, I am entering into this Release Agreement. I understand and agree that the
severance payment is in addition to the other (non-severance) benefits to which I may be entitled under the normal policies and procedures applicable to employees of EXCO as a result of my termination of employment from EXCO. 

I,
                                        ,
on behalf of myself, my heirs, executors, successors and assigns hereby irrevocably and unconditionally RELEASE, WAIVE, AND FOREVER DISCHARGE EXCO and all of its parents, divisions, subsidiaries and affiliates, and their present and former agents,
employees, officers, directors, partners, stockholders, successors and assigns (hereinafter collectively “Releasees”) from any and all claims, demands, actions and causes of action, and all liability whatsoever, whether known or unknown,
fixed or contingent, which I have or may have against Releasees as a result of my employment by or subsequent termination as an employee of EXCO, or failure to be hired by any Releasee, up to the date of execution of this Release Agreement.
This Release Agreement includes but is not limited to claims at law or equity or sounding in contract (express or implied) or tort arising under federal, state or local laws prohibiting age, sex, race, national origin, disability, religion, veteran
or any other forms of discrimination (including but not limited to Title VII of the Civil Rights Act of 1964, the Rehabilitation Act of 1973, the Americans with Disabilities Act, as well as applicable state fair employment practices laws),
claims arising under the Fair Labor Standards Act, the National Labor Relations Act, the Worker Adjustment and Retraining Notification Act, the Family and Medical Leave Act, the Employee Retirement Income Security Act, or any other legal and
equitable claims regarding my employment with EXCO, the continuation of employment or the termination of said employment. 
 I understand and
agree that this Release Agreement shall not in any way be construed as an admission by Releasees of any unlawful or wrongful acts whatsoever against me or any other person, and Releasees specifically disclaim any liability to or wrongful acts
against me or any other person. 
 I acknowledge that I have been advised in writing by EXCO that I should consult an attorney prior to
executing this Release Agreement, and further acknowledge that I have been given a period of forty-five (45) calendar days after my termination by EXCO within which to review and consider the provisions of this Release Agreement. 

I understand and acknowledge that once I have executed this Release Agreement, it is immediately binding and may not be revoked or rescinded by either
party. 
 I understand it is my choice whether or not to enter into this Release Agreement and that my decision to do so is voluntary and is
made knowingly. 

  
 15 

 Please read carefully as this document includes a release of claims. 

As evidenced by my signature below, I hereby certify that I have read the above Release Agreement and agree to its terms. 

Dated this      day of
                    , 20    . 
  

					
	  
	 		 	  

	WITNESS	 		 	EMPLOYEE SIGNATURE

  
 16Registration Rights Agreement

 Exhibit 4.2 
 EXECUTION COPY 
 REGISTRATION RIGHTS AGREEMENT (this
“Agreement”), dated as of November 4, 2010, by and among THE FRESH MARKET, INC., a Delaware corporation (the “Company”), the Persons listed as Eligible Stockholders on Schedule 1 attached hereto and the
Persons listed as Stockholder Representatives on Schedule 2 attached hereto. 
 WHEREAS, the Company has filed a
Registration Statement (as defined below) on Form S-1 under the Securities Act (as defined below) with respect to the initial public offering of shares of the Company’s common stock, par value $0.01 per share (the “Common
Stock”); 
 WHEREAS, the Company has agreed to grant certain stockholders the registration rights and other rights set
forth in this Agreement; and 
 NOW, THEREFORE, in consideration of the recitals and the mutual premises, covenants and
agreements contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 ARTICLE I 
 Definitions 

In addition to capitalized terms defined elsewhere in this Agreement, the following capitalized terms shall have the following meanings
when used in this Agreement: 
 “Affiliate” means, as to any specified Person, any other Person directly or
indirectly controlling or controlled by or under direct or indirect common control with such specified Person. For purposes of this definition, “control”, as used with respect to any Person, means the possession, directly or
indirectly, of the power to direct or cause the direction of the management or policies of such Person, whether through the ownership of voting securities, by agreement or otherwise. For purposes of this definition, the terms
“controlling”, “controlled by” and “under common control with” have correlative meanings. 
 “Agreement” shall have the meaning set forth in the Preamble. 

“Business Day” means any day other than a Saturday, Sunday or other day in New York, New York on which banking
institutions are authorized or required by law or regulation to close. 
 “Commission” means the Securities and
Exchange Commission and any successor agency performing comparable functions. 
 “Common Stock” shall have the
meaning set forth in the Recitals. 

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

“Demand Registrations” shall have the meaning set forth in Section 2.02(a). 

“Eligible Stockholder” means each of the Persons identified as “Eligible Stockholders” on Schedule 2
attached hereto, as amended, and any Transferee. 
 “Exchange Act” means the Securities Exchange Act of 1934,
as amended, or any successor United States Federal statute, and the rules and regulations of the Commission thereunder, as the same shall be in effect from time to time. 
 “Governmental Authority” means any regional, Federal, state or local legislative, executive or judicial body or agency, any court of competent jurisdiction, any department, political
subdivision or other governmental authority or instrumentality, or any arbitral authority, in each case, whether domestic or foreign. 
 “Immediate Family” means any relationship by blood, marriage or adoption, not more remote than first cousin. 
 “Indemnified Party” shall have the meaning set forth in Section 8.03. 
 “Indemnifying Party” shall have the meaning set forth in Section 8.03. 
 “Long-Form Demand Registration” shall have the meaning set forth in Section 2.01(b). 
 “Losses” shall have the meaning set forth in Section 8.01. 
 “Other Stockholders” shall have the meaning set forth in Section 4.03. 
 “Permitted Transferee” means, with respect to any Transferring Stockholder, (i) any Affiliate of such Transferring Stockholder, (ii) any trust for the direct or indirect benefit
of such Transferring Stockholder or the Immediate Family of such Transferring Stockholder or (iii) the beneficiaries, limited partners or stockholders of such Transferring Stockholder. 

“Person” means an individual, a company, a partnership, a joint venture, a limited liability company or limited
liability partnership, an association, a trust, estate or other fiduciary, any other legal entity, and any Governmental Authority. 
 “Piggyback Registration” shall have the meaning set forth in Section 4.01. 
 “Public Offering” means any offering by the Company of its equity securities to the public pursuant to an effective registration statement under the Securities Act or any comparable
statement under any comparable Federal statute then in effect (other than any registration statement on Form S-8 or Form S-4 or any successor forms thereto). 

  
 2 

 “Registrable Securities” means (i) the shares of Common Stock
beneficially owned by the Eligible Stockholders; (ii) other equity securities of the Company beneficially owned by the Eligible Stockholders into which the Common Stock shall be reclassified or changed, including by reason of a merger,
consolidation, reorganization, recapitalization or statutory conversion; and (iii) any other securities of the Company issued or issuable as a distribution with respect to or in exchange or replacement for or on exercise of any shares or other
securities referred to in clause (i) or (ii) of this definition; provided, however, that any such shares or other securities shall cease to be Registrable Securities when they (a) have been effectively registered under
the Securities Act and sold by the holder thereof in accordance with such registration; (b) have been sold pursuant to Rule 144; or (c) are eligible for resale by an Eligible Stockholder under Rule 144 without volume or manner-of-sale
restrictions, as determined by the Company in its discretion after consultation with Company counsel. 
 “Registration
Expenses” shall have the meaning set forth in Section 7.01. 
 “Rule 144” means Rule 144
promulgated by the Commission pursuant to the Securities Act, as such rule may be amended from time to time, or any similar rule or regulation hereafter adopted by the Commission as a replacement thereto. 

“Securities Act” means the Securities Act of 1933, as amended, or any successor United States Federal statute, and the
rules and regulations of the Commission thereunder, as the same shall be in effect from time to time. 
 “Shelf
Registration Statement” shall have the meaning set forth in Section 3.01. 
 “Short-Form Demand
Registrations” shall have the meaning set forth in Section 2.02(a). 
 “Stockholder
Representative” means each of the Persons identified as “Stockholder Representatives” on Schedule 2 attached hereto, as amended. 
 “Subsequent Shelf Registration Statement” shall have the meaning set forth in Section 3.01(a). 
 “Transferee” shall have the meaning set forth in Section 11.02(a). 
 “Transferring Stockholder” shall have the meaning set forth in Section 11.02(a). 
 ARTICLE II 
 Demand Registration 

SECTION 2.01. Long-Form Registrations. (a) Subject to the terms of this Agreement, at any time, any two or more of the
Stockholder Representatives acting together shall be entitled to request registration under the Securities Act of all or part of 

  
 3 

 
the Registrable Securities on Form S-1 or any similar long-form registration statement; provided, however, that with respect to any request under this
Section 2.01(a), (i) the anticipated aggregate offering amount of the Registrable Securities covered by such registration shall equal or exceed $75,000,000 and (ii) the Company shall not otherwise be eligible at the time of the
request to file a registration statement on Form S-3 or any similar short-form registration statement for the sale of Registrable Securities by the Eligible Stockholders. 
 (b) Within ten days after receipt of any written request pursuant to this Section 2.01, the Company will give written notice of such request to all Stockholder Representatives and the Eligible
Stockholders represented by such Stockholder Representatives as set forth on Schedule 2, and will use its reasonable best efforts to include in such registration all Registrable Securities with respect to which the Company has received written
requests for inclusion within ten days after delivery of the Company’s notice, and thereupon the Company will use its reasonable best efforts to effect, at the earliest possible date, the registration under the Securities Act. A registration
requested pursuant to this Section 2.01 is referred to herein as a “Long-Form Demand Registration”. The Company shall not be obligated to effect more than three Long-Form Demand Registrations for the Eligible
Stockholders pursuant to this Section 2.01. 
 SECTION 2.02. Short-Form Registrations. (a) In addition
to the Long-Form Demand Registration rights provided pursuant to Section 2.01 above, commencing on the date on which the Company becomes eligible to register securities issued by it on a Form S-3 or any similar short-form
registration statement, any two or more of the Stockholder Representatives acting together shall be entitled to request registration under the Securities Act of all or part of the Registrable Securities on Form S-3 or such similar short-form
registration statement (“Short-Form Demand Registrations” and, together with Long-Form Demand Registrations, “Demand Registrations”); provided, however, that with respect to any request under this
Section 2.02(a) the anticipated aggregate offering amount of the Registrable Securities covered by such registration shall equal or exceed $75,000,000. 
 (b) Within ten days after receipt of any written request pursuant to this Section 2.02, the Company will give written notice of such request to all Stockholder Representatives and the Eligible
Stockholders represented by such Stockholder Representatives as set forth on Schedule 2, and will use its reasonable best efforts to include in such registration all Registrable Securities with respect to which the Company has received written
requests for inclusion within ten days after delivery of the Company’s notice, and thereupon the Company will use its reasonable best efforts to effect, at the earliest possible date, the registration under the Securities Act. Demand
Registrations will be Short-Form Demand Registrations whenever the Company is permitted to use any applicable short form. If for marketing or other reasons the managing underwriter(s) with respect to any Short-Form Demand Registration request the
inclusion in the registration statement of information that is not required under the Securities Act to be included in a registration statement on the applicable form for the Short-Form Demand Registration, the Company will provide such information
as may 

  
 4 

 
be reasonably requested for inclusion by the managing underwriter(s) in the Short-Form Demand Registration. 
 SECTION 2.03. Amount. Each request for a Demand Registration shall specify the number of shares of Registrable Securities proposed to be sold. 

SECTION 2.04. Payment of Expenses for Demand Registrations. The Company will pay all Registration Expenses for the Demand
Registrations made under Section 2.01 or 2.02. A registration will not count as a Demand Registration until it has become effective. 
 SECTION 2.05. Priority. If the managing underwriter(s) with respect to a Demand Registration involving more than one Eligible Stockholder advise the Company in writing that, in their opinion, the
number of Registrable Securities requested to be included in such Demand Registration should be reduced due to adverse market conditions, market demand or otherwise, then, unless otherwise agreed by all of the Stockholder Representatives who have
requested inclusion of Registrable Securities in the applicable Demand Registration, the number of Registrable Securities shall be reduced pro rata among the respective holders of such Registrable Securities on the basis of the number
of such Registrable Securities requested by such holders to be included in the applicable Demand Registration. 
 SECTION 2.06.
Restrictions. The Company will not be obligated to effect any Demand Registration within 180 days after the effective date of a previous Demand Registration. In addition, with respect to any Demand Registration, if (A) (i) in the
good faith judgment of the Company, there is a material development relating to the business, results of operations, condition (financial or otherwise) or prospects of the Company that has not been disclosed to the general public or (ii) the
Company is planning to prepare and file a registration statement for a primary offering by the Company of its securities, and (B) the chief executive officer or chief financial officer of the Company notifies in writing the holders of the
Registrable Securities requesting such Demand Registration that such officer has reasonably concluded that under such circumstances it would be in the Company’s best interest to postpone the filing of a Demand Registration, then the Company may
postpone for up 60 days the filing or the effectiveness (but not the preparation) of a registration statement for a Demand Registration; provided, that the Company may not on any of the foregoing grounds postpone the filing or effectiveness
of a registration statement for a Demand Registration more than twice during any 12-month period and such postponements shall not exceed 90 days in the aggregate (unless the requesting Stockholder Representatives consent in writing to a longer
postponement of the filing or effectiveness of such registration statement). 
 SECTION 2.07. Underwritten Offerings. All
Demand Registrations shall be underwritten (which shall include “block trades”) and in no event shall the Company be obligated to effect any underwritten offering other than through a Demand Registration. 

  
 5 

 SECTION 2.08. Selection of Underwriters. In connection with any
Demand Registration, the managing underwriter(s) in respect of such offering shall be chosen by a majority-in-interest of the holders requesting such registration, subject to the approval of the Company (which approval shall not be unreasonably
withheld). 

ARTICLE III 

Shelf Registrations 
 SECTION 3.01. Right to Shelf Registration. (a) Subject to the terms of this Agreement, in addition to the Demand Registrations and commencing on the date on which the Company becomes eligible
to register securities issued by it on a Form S-3 or any similar short-form registration statement, any two or more of the Stockholder Representatives acting together shall be entitled to request that the Company file a shelf registration statement
on Form S-3 pursuant to Rule 415 of the Securities Act (or any successor rule thereto) with respect to all or part of the Registrable Securities (including the prospectus, amendments and supplements to the shelf registration statement or prospectus,
including pre- and post-effective amendments thereto, all exhibits thereto and all material incorporated by reference or deemed incorporated by reference therein, the “Shelf Registration Statement”). The Company shall use its
reasonable best efforts to cause the Shelf Registration Statement to be declared effective by the Commission as soon as practicable after such filing, and shall use its reasonable best efforts to keep the Shelf Registration Statement effective and
updated, from the date such Shelf Registration Statement is declared effective until the earlier of (i) the date as of which all of the Registrable Securities included in the Shelf Registration Statement have been sold and (ii) the third
anniversary of the initial effective date of the Shelf Registration Statement. If the Shelf Registration Statement has been effective for three years, at the end of the third year, if requested by a Stockholder Representative, the Company shall use
its reasonable best efforts to promptly file a new shelf registration statement (a “Subsequent Shelf Registration Statement”) on Form S-3 pursuant to Rule 415 of the Securities Act (or any successor rule thereto). 

(b) The Company shall use its reasonable best efforts to cause any Subsequent Shelf Registration Statement to be declared effective by
the Commission as soon as practicable after such filing, and shall use its reasonable best efforts to keep any Subsequent Shelf Registration Statement effective and updated, from the date such Subsequent Shelf Registration Statement is declared
effective until the earlier of (i) the date as of which all of the Registrable Securities included in the Subsequent Shelf Registration Statement have been sold and (ii) the third anniversary of the initial effective date of the Subsequent
Shelf Registration Statement. If the Subsequent Shelf Registration Statement has been effective for three years, at the end of the third year, if requested by a Stockholder Representative, the Company shall use its reasonable best 
  

  
 6 

 
efforts to promptly file a new Subsequent Shelf Registration Statement on Form S-3 pursuant to Rule 415 of the Securities Act (or any successor rule thereto). 

(c) From time to time, any Stockholder Representative shall be entitled to request that the Company amend the Shelf Registration
Statement or any Subsequent Shelf Registration Statement to (i) include all or part of the Registrable Securities not already covered by the Shelf Registration Statement or any Subsequent Shelf Registration Statement or (ii) amend the plan
of distribution as reasonably necessary to permit resales of Registrable Securities in the manner contemplated by such Stockholder Representative (subject to the limitations of Section 2.07). Upon receipt of a request to amend a Shelf
Registration Statement or any Subsequent Shelf Registration Statement in accordance with this subsection, the Company shall use its reasonable best efforts to cause such amendment to be filed as soon as reasonably practicable after the receipt of
such request. 
 (d) Payment of Expenses for Shelf Registrations. The Company will pay all Registration Expenses for the
shelf registrations made under this Article III. 
 ARTICLE IV 

Piggyback Registrations 
 SECTION 4.01. Right to Piggyback. At any time, whenever the Company proposes to register any of its Common Stock (or other securities of the type contemplated by clause (ii) or (iii) of
the definition of Registrable Securities) under the Securities Act for its own account or otherwise, and the registration form to be used may be used for the registration of Registrable Securities (each, a “Piggyback Registration”)
(except for registrations on Form S-8 or Form S-4 or any successor forms thereto), the Company will give written notice, at least ten days prior to the proposed filing of such registration statement, to all Stockholder Representatives and all
Eligible Stockholders, of its intention to effect such a registration and will use its reasonable best efforts to include in such registration all Registrable Securities (in accordance with the priorities set forth in Sections 4.02 and
4.03 below) with respect to which the Company has received written requests for inclusion specifying the number of Registrable Securities desired to be registered, which requests shall be delivered within ten days after the delivery of the
Company’s notice. The Company may postpone or withdraw the filing or the effectiveness of a Piggyback Registration at anytime in its sole discretion. 
 SECTION 4.02. Priority on Primary Registrations. If a Piggyback Registration is an underwritten primary offering on behalf of the Company and the managing underwriter(s) advise the Company in
writing that, in their opinion, the number of Company securities requested to be included in the registration (including securities of the Company that are not Registrable Securities) should be reduced due to adverse market conditions, market demand
or otherwise, then the Company may exclude securities (including Registrable Securities) from the registration and the underwriting, and the number of securities to be included in such registration and underwriting shall be determined as follows:
(a) first, any securities that the Company proposes to sell; (b)

  
 7 

 
second, the Registrable Securities requested to be included in such registration, pro rata among the Eligible Stockholders on the basis of the total number of Registrable Securities which
are requested by such Eligible Stockholders to be included in such registration, and (c) third, other securities, if any, requested to be included in such registration. 

SECTION 4.03. Priority on Secondary Registrations. If a Piggyback Registration is an underwritten secondary offering on behalf of
any Person, other than the Eligible Stockholders, who has the contractual right to initiate such a registration (the “Other Stockholders”), and the managing underwriter(s) advise the Company in writing that, in their opinion, the
number of Company securities requested to be included in the registration (including securities of the Company that are not Registrable Securities) should be reduced due to adverse market conditions, market demand or otherwise, the Company will
include in such registration: (a) first, the Common Stock requested to be included therein by the Other Stockholders, (b) second, the Registrable Securities requested to be included in such registration, pro
rata among the Eligible Stockholders on the basis of the total number of Registrable Securities which are requested by such Eligible Stockholders to be included in such registration, (c) third, any securities that the Company
proposes to sell, and (d) fourth, other securities, if any, requested to be included in such registration. 

SECTION 4.04. Selection of Underwriters. In connection with any Piggyback Registration resulting from the Company’s proposal
to register any of its Common Stock for its own account, the Company will have the right to select the managing underwriter(s) in respect of such offering in its sole discretion. 

SECTION 4.05. Payment of Expenses for Demand Registrations. The Company will pay all Registration Expenses for the Piggyback
Registrations under this Article IV. 
 ARTICLE V 

Additional Agreements 
 SECTION 5.01. Holders’ Agreements. To the extent consistent with applicable law, each holder of Registrable Securities agrees that upon request of the Company or the managing underwriter(s) of
any underwritten offering of the Company’s securities, it will (i) not, directly or indirectly (A) offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any
option, right or warrant for the sale of, or lend or otherwise dispose of or transfer any shares of Common Stock or any securities convertible into or exchangeable or exercisable for Common Stock, whether then owned or thereafter acquired by such
holder or with respect to which the holder has or hereafter acquires the power of disposition (collectively, the “Lock-Up Securities”), or exercise any right with respect to the registration of any of the Lock-up Securities, or file
or cause to be filed any registration statement in connection therewith, under the Securities Act, or (B) enter into any swap or any other agreement or any transaction that transfers, in whole or in part,

  
 8 

 
directly or indirectly, the economic consequence of ownership of the Lock-Up Securities, whether any such swap or transaction described in clause (A) or (B) above is to be settled by
delivery of Common Stock or other securities, in cash or otherwise (other than those securities included by such holder in the offering in question, if any), without the prior written consent of the Company or such underwriters, as the case may be,
during the period of up to 180 days following the effective date of the registration statement for such underwritten offering, and (ii) enter into and be bound by such form of agreement with respect to the foregoing as the Company or such
managing underwriter(s) may reasonably request. 
 SECTION 5.02. Company’s Agreements. The Company agrees not to
effect any public sale or public distribution of its equity securities, or any securities convertible into or exchangeable or exercisable for such securities, during the 90 day period following the effective date of a registration statement filed
under Article II hereof (except as part of any such underwritten registration or pursuant to registrations on Form S-8 or Form S-4 or any successor forms thereto), unless the managing underwriter(s) otherwise agree. 

SECTION 5.03. Suspension of Resales. The Company shall be entitled to suspend for up to 60 days the use of the prospectus forming
the part of any registration statement, including a Shelf Registration Statement, which has theretofore become effective at any time if, in the good faith judgment of the Company, there is a material development relating to the business, results of
operations, condition (financial or otherwise) or prospects of the Company that has not been disclosed to the general public and the chief executive officer or chief financial officer of the Company notifies in writing the holders of the Registrable
Securities included in such registration statement and not previously sold thereunder that such officer has reasonably concluded that under such circumstances it would be in the Company’s best interest to suspend the use of such prospectus;
provided, however, that the Company may not exercise its rights under this Section 5.03 more than twice in any 12-month period and the duration of such suspensions shall not, taken together with any postponements pursuant
to Section 2.06, exceed 90 days in the aggregate in any 12-month period (unless the holders of a majority of the unsold Registrable Securities included in such registration statement and not previously sold thereunder consent in writing
to a longer suspension). Each holder of Registrable Securities included in any such registration statement and not previously sold thereunder agrees that upon its receipt of such written notification it will immediately discontinue the sale of any
Registrable Securities pursuant to such registration statement or otherwise until such holder has received copies of the supplemented or amended prospectus or until such holder is advised by the Company in writing that the use of the prospectus
forming a part of such registration statement may be resumed and has received copies of any additional or supplemental filings that are incorporated by reference in such prospectus. 

  
 9 

 ARTICLE VI 
 Registration Procedures 
 SECTION 6.01. Registration Procedures.
Whenever requests for registration have been made pursuant to this Agreement, the Company will use its reasonable best efforts to effect the registration of such Registrable Securities in accordance with the intended method of disposition thereof
and, pursuant thereto, the Company will as expeditiously as reasonably possible: 
 (a) prepare and, as soon as practicable
after the end of the period within which requests for registration may be given to the Company, file with the Commission a registration statement with respect to such Registrable Securities and use its reasonable best efforts to cause such
registration statement to become effective (provided that before filing a registration statement or prospectus, or any amendments or supplements thereto, the Company will furnish copies of all such documents proposed to be filed to one counsel
designated by holders of a majority of the Registrable Securities covered by such registration statement and to the extent practicable under the circumstances, provide such counsel an opportunity to comment on any information pertaining to the
holders of Registrable Securities covered by such registration statement contained therein; and the Company shall consider in good faith any comments reasonably requested by such counsel with respect to such information); 

(b) prepare and file with the Commission such amendments and supplements to such registration statement and the prospectuses used in
connection therewith as may be necessary to keep such registration statement effective until (i) the date that is 180 days after its effectiveness and (ii) the date that all of the securities covered by the registration statement have been
sold, and comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement during such period in accordance with the intended methods of disposition by the sellers thereof set
forth in such registration statement; 
 (c) in connection with any filing of any registration statement or prospectus or
amendment or supplement thereto, cause such document (i) to comply in all material respects with the requirements of the Securities Act and the rules and regulations of the Commission thereunder and (ii) to not contain any untrue statement
of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading; 
 (d) furnish to each seller of Registrable Securities, without charge, such number of copies of such registration statement, each amendment and supplement thereto, the prospectuses included in such
registration statement (including each preliminary prospectus) and such other documents as such seller may reasonably request in order to facilitate the disposition of the Registrable Securities owned by such seller; 

(e) use its reasonable best efforts to register or qualify such Registrable Securities under such securities or blue sky laws of such
jurisdictions as the Eligible 

  
 10 

 
Stockholders reasonably request, keep each such registration or qualification effective during the period the associated registration statement is required to be kept effective, and do any and
all other acts and things that may be reasonably necessary or advisable to enable such seller to consummate the disposition in such jurisdictions of the Registrable Securities owned by such seller; provided, however, that the Company
will not be required to (i) qualify generally to do business in any jurisdiction where it would not otherwise be required to qualify but for this subparagraph, (ii) consent to general service of process in any such jurisdiction, or
(iii) subject itself or any of its Affiliates to taxation in any such jurisdiction in which it is not already subject to taxation; 
 (f) promptly notify each seller of such Registrable Securities and, if requested by such seller, confirm in writing, when a registration statement has become effective and when any post-effective
amendments and supplements thereto become effective; 
 (g) promptly notify each seller of such Registrable Securities, at any
time when a prospectus relating thereto is required to be delivered under the Securities Act, of the happening of any event as a result of which the prospectus included in such registration statement contains an untrue statement of a material fact
or fails to state any fact necessary to make the statements therein not misleading, and, at the request of any such seller (but subject to the terms of Section 5.03), the Company will prepare a supplement or amendment to such prospectus
so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus will not contain any untrue statement of a material fact or omit to state any fact necessary to make the statements therein not misleading;

 (h) use reasonable best efforts to cause all such Registrable Securities to be listed on each securities exchange on which
similar securities issued by the Company are then listed or if no such securities are then listed, on a national securities exchange selected by the Company; 
 (i) provide a transfer agent, registrar and CUSIP number for all such Registrable Securities not later than the effective date of such registration statement; 

(j) enter into such customary agreements (including, if applicable, underwriting agreements in customary form) and take all such other
customary actions as the holders of a majority of the Registrable Securities being sold or the underwriters, if any, reasonably request in order to expedite or facilitate the disposition of such Registrable Securities; 

(k) use reasonable best efforts to cooperate with each seller and the underwriter or managing underwriter, if any, to facilitate the
timely preparation and delivery of certificates representing Registrable Securities to be sold and not bearing any restrictive legends; and enable such Registrable Securities to be in such denominations (consistent with the provisions of the
governing documents thereof) and registered in such names as each seller or the underwriter or managing underwriter, if any, may reasonably request at least three business days prior to any sale of Registrable Securities; 

  
 11 

 (l) subject to confidentiality agreements in form and substance acceptable to the Company,
make available for inspection, at such place and in such manner as determined by the Company in its sole discretion, by any seller of Registrable Securities, any underwriter participating in any disposition pursuant to such registration statement,
and any attorney, accountant or other agent retained by any such seller or underwriter, financial and other records, pertinent corporate documents and properties of the Company reasonably requested by any such seller, underwriter, attorney,
accountant or agent in connection with such registration statement, and cause the Company’s officers, directors, employees and independent accountants to supply all information reasonably requested by any such seller, underwriter, attorney,
accountant or agent in connection with such registration statement; provided, however, that any records, information or documents that are furnished by the Company and that are non-public shall be used only in connection with such
registration; 
 (m) advise each seller of such Registrable Securities, promptly after it shall receive notice or obtain
knowledge thereof, of the issuance of any stop order by the Commission suspending the effectiveness of such registration statement or the initiation or threatening of any proceeding for such purpose and promptly use its reasonable best efforts to
prevent the issuance of any stop order or to obtain its withdrawal if such stop order should be issued; 
 (n) make available to
its security holders, as soon as reasonably practicable, an earnings statement (which need not be audited) covering at least 12 months which shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder;

 (o) cooperate and assist in any filing required to be made with the Financial Industry Regulatory Authority; 

(p) at the request of any seller of such Registrable Securities in connection with an underwritten offering, furnish on the date or dates
provided for in the underwriting agreement a “comfort letter” or “comfort letters” from the independent certified public accountants of the Company addressed to the underwriters and the sellers of Registrable Securities, covering
such matters as such accountants, underwriters and sellers may reasonably agree upon, in which comfort letter(s) such accountants shall state, without limiting the generality of the foregoing, that they are an independent registered public
accounting firm within the meaning of the Securities Act and that in their opinion the financial statements and other financial data of the Company included in the registration statement, the prospectuses, or any amendment or supplement thereto,
comply in all material respects with the applicable accounting requirements of the Securities Act; and 
 (q) with respect to
Demand Registrations, make senior executives of the Company reasonably available to assist the managing underwriter(s) with respect to, and participate, in “road shows” in connection with the marketing efforts for the distribution and sale
of Registrable Securities pursuant to a registration statement. 

  
 12 

 ARTICLE VII 
 Registration Expenses 
 SECTION 7.01. Company’s Expenses. The
Company will pay all expenses incident to the Company’s performance of or compliance with this Agreement, including, but not limited to: all registration and filing fees; fees and expenses of compliance with securities or blue sky laws;
printing expenses; messenger and delivery expenses; and fees and disbursements of counsel for the Company; reasonable fees and disbursements of one counsel chosen by the holders of a majority of the Registrable Securities to be included in such
registration to represent all holders of Registrable Securities to be included in the registration; fees and disbursements of the Company’s registered public accounting firm; and reasonable fees and disbursements of all other Persons retained
by the Company (all such expenses being herein called “Registration Expenses”); provided, however, that, as between the Company and holders of Registrable Securities, all underwriting discounts and commissions and
transfer taxes relating to the Registrable Securities will be borne by the holders of such Registrable Securities. In addition, the Company will pay its internal expenses (including, but not limited to, all salaries and expenses of its officers and
employees performing legal or accounting duties), the expense of any annual audit or quarterly review, the expense of any liability insurance obtained by the Company and the expenses and fees for listing the securities to be registered on each
securities exchange. 
 SECTION 7.02. Holder’s Expenses. To the extent that any expenses incident to any
registration are not required to be paid by the Company, each holder of Registrable Securities included in a registration will pay all such expenses which are clearly and solely attributable to the registration of such holder’s Registrable
Securities so included in such registration, and any other expenses not so attributable to one holder will be borne and paid by all sellers of securities included in such registration in proportion to the number of securities so included by each
such seller. 
 ARTICLE VIII 
 Indemnification 
 SECTION 8.01. By the Company. The Company agrees
to indemnify, to the extent permitted by law, each holder of Registrable Securities and, as applicable, each of its trustees, stockholders, members, directors, managers, partners, officers and employees, and each Person who controls such holder
(within the meaning of the Securities Act), against all losses, claims, damages, liabilities and expenses (including, but not limited to, reasonable attorneys’ fees and expenses) (collectively, “Losses”) caused by any untrue or
alleged untrue statement of material fact contained in any registration statement, prospectus or preliminary prospectus, or any amendment thereof or supplement thereto (including, in each case, all documents incorporated therein by reference), or
any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as the same are caused by or contained in any information furnished in writing to the
Company 

  
 13 

 
by such holder expressly for use therein or by such holder’s failure to deliver a copy of the prospectus or preliminary prospectus, or any amendments or supplements thereto after the Company
has furnished such holder with a sufficient number of copies of the same. In connection with an underwritten offering, the Company will indemnify such underwriters, their officers and directors and each Person who controls such underwriters (within
the meaning of the Securities Act) to the same extent as provided above with respect to the indemnification of the holders of Registrable Securities. The payments required by this Section 8.01 will be made periodically during the course
of the investigation or defense, as and when bills are received or expenses incurred; provided, however, that if a final and non-appealable judicial determination shall be made that such Indemnified Party (as defined below) is not
entitled to indemnification for any such Losses, such Indemnified Party shall repay to the Company the amount of such Losses for which the Company shall have paid or reimbursed such Indemnified Party. 

SECTION 8.02. By Each Holder of Registrable Securities. In connection with any registration statement in which a holder of
Registrable Securities is participating, each such holder will furnish to the Company in writing such information relating to such holder as is reasonably necessary for use in connection with any such registration statement or prospectus and, to the
extent permitted by law, will indemnify the Company and, as applicable, each of its directors, employees and officers and each Person who controls the Company (within the meaning of the Securities Act) against any Losses resulting from any untrue or
alleged untrue statement of material fact contained in the registration statement, prospectus or preliminary prospectus, or any amendment thereof or supplement thereto (including, in each case, all documents incorporated therein by reference), or
any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein not misleading, but only to the extent that such untrue statement or omission is contained in or omitted from any
information furnished in writing by such holder for the acknowledged purpose of inclusion in such registration statement, prospectus or preliminary prospectus. In connection with a Demand Registration or any other underwritten offering in which a
holder of Registrable Securities is participating, such holder will indemnify such underwriters, their officers and directors and each Person who controls such underwriters (within the meaning of the Securities Act) to the same extent as provided
above with respect to the indemnification of the Company; provided, however, that any obligation to indemnify under this Section 8.02 will be several, not joint and several, among such holders of Registrable Securities and the
liability of each such holder of Registrable Securities will be in proportion to and limited to the gross amount (before underwriting discounts) received by such holder from the sale of Registrable Securities pursuant to such registration statement,
unless such Losses resulted from such holder’s intentionally fraudulent conduct. 
 SECTION 8.03. Procedure. Each
party entitled to indemnification under this Article VIII (the “Indemnified Party”) shall give written notice to the party required to provide indemnification (the “Indemnifying Party”) promptly after
such Indemnified Party has received written notice of any claim as to which indemnity may be sought, and shall permit the Indemnifying Party to assume the defense of any such claim or any 

  
 14 

 
litigation resulting therefrom, provided that the counsel for the Indemnifying Party who is to conduct the defense of such claim or litigation is reasonably satisfactory to the Indemnified Party
(whose approval shall not be unreasonably withheld or delayed). The Indemnified Party may participate in such defense at such Indemnified Party’s expense; provided, however, that the Indemnifying Party shall bear the expense of
such participation if (i) the Indemnifying Party has agreed in writing to pay such expenses, (ii) the Indemnifying Party shall have failed to assume the defense of such claim or to employ counsel reasonably satisfactory to the Indemnified
Party or (iii) in the reasonable judgment of the Indemnified Party, based upon the written advice of such Indemnified Party’s counsel, representation of both parties by the same counsel would be inappropriate due to actual or potential
conflicts of interest; provided, further, that in no event shall the Indemnifying Party be liable for the fees and expenses of more than one counsel (excluding one local counsel per jurisdiction as necessary) for all Indemnified
Parties in connection with any one action or separate but similar or related actions in the same jurisdiction arising out of the same event, allegations or circumstances. The Indemnified Party shall not enter into any settlement without the prior
written consent of the Indemnifying Party, which consent shall not be unreasonably withheld or delayed. The failure of any Indemnified Party to give notice as provided herein shall relieve the Indemnifying Party of its obligations under this
Article VIII only to the extent that such failure to give notice shall materially prejudice the Indemnifying Party in the defense of any such claim or any such litigation. No Indemnifying Party, in the defense of any such claim or
litigation, shall, except with the prior written consent of each Indemnified Party, consent to entry of any judgment or enter into any settlement (a) that does not include 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 in form and substance reasonably satisfactory to such Indemnified Party or (b) that includes an admission of fault, culpability or a failure to
act, by or on behalf of any Indemnified Party. 
 SECTION 8.04. Survival. The indemnification (and contribution
provisions in Section 9.01 below) provided for under this Agreement will remain in full force and effect regardless of any investigation made by or on behalf of the Indemnified Party or any officer, director or controlling Person of such
Indemnified Party and will survive the transfer of securities. 
 ARTICLE IX 

Contribution 
 SECTION 9.01. Contribution. If the indemnification provided for in Section 8.01 from the Indemnifying Party is unavailable to or unenforceable by the Indemnified Party in respect of any
Losses, then the Indemnifying Party, in lieu of indemnifying such Indemnified Party, shall contribute to the amount paid or payable by such Indemnified Party as a result of such Losses in such proportion as is appropriate to reflect the relative
fault of the Indemnifying Party and Indemnified Parties in connection with the actions which resulted in such Losses, as well as any other relevant equitable considerations. The relative fault of such Indemnifying Party and Indemnified Parties

  
 15 

 
shall be determined by reference to, among other things, whether any action in question, including any untrue or alleged untrue statement of a material fact or omission or alleged omission to
state a material fact, has been made by, or relates to information supplied by, such Indemnifying Party or Indemnified Parties, and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such
action. The amount paid or payable by a party as a result of any Losses shall be deemed to include, subject to the limitations set forth in Article VIII, any legal or other fees or expenses reasonably incurred by such party in connection
with any investigation or proceeding. Notwithstanding this Article IX, an indemnifying holder shall not be required to contribute any amount in excess of the amount by which (a) the gross amount (before underwriting discounts)
received by such holders from the sale of Registrable Securities sold by such holder exceeds (b) the amount of any damages which such indemnifying holder has otherwise been required to pay by reason of the untrue or alleged untrue statement or
omission or alleged omission giving rise to such payments, unless such Losses in respect of which contribution is required resulted from such holder’s intentionally fraudulent conduct. 

SECTION 9.02. Equitable Considerations; Etc. The Company and the holders of Registrable Securities agree that it would not be just
and equitable if contribution pursuant to this Article IX were determined by pro rata allocation or by any other method of allocation which does not take into account the equitable considerations referred to in the immediately preceding
paragraph. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. 

ARTICLE X 

Compliance with Rule 144 
 SECTION 10.01. Compliance with Rule 144. At the request of any holder of Registrable Securities who proposes to sell securities in compliance with Rule 144, the Company will (i) promptly
furnish to such holder a written statement of compliance with the filing requirements of the Commission as set forth in Rule 144, and (ii) make available to the public and such holders such information, and take such action as is reasonably
necessary, to enable the holders of Registrable Securities to make sales pursuant to Rule 144. 
 ARTICLE XI 

Miscellaneous 
 SECTION 11.01. Amendments and Waivers. Any waiver, consent or approval of any kind of any provision or condition of this Agreement must be made in writing and shall be effective only to the extent
specifically set forth in writing. Any Stockholder Representative may, with respect to such Stockholder Representative and any Eligible Stockholders it represents, waive the benefitof any provision of this

  
 16 

 
Agreement. Except as set forth in Section 11.02(d), any amendment, modification, supplement or restatement of this Agreement must be effected by written agreement of the Company, each
of the Stockholder Representatives and each of the Eligible Stockholders. No waiver by any party of any default, misrepresentation or breach covenant hereunder, whether intentional or not, shall be deemed to extend to any prior or subsequent
default, misrepresentation or breach of covenant hereunder or affect in any way any rights arising by virtue of any prior or subsequent such occurrence. 
 SECTION 11.02. Transfer Rights. (a) The rights of a Stockholder Representative, together with those of the Eligible Stockholders represented by such Stockholder Representative as set forth on
Schedule 2, as well as the rights of any Eligible Stockholder not set forth on Schedule 2 (in any such case, collectively, the “Transferring Stockholder”), shall be transferable to any transferee (the “Transferee”)
of any interests in the Registrable Securities held by such Transferring Stockholder[; provided, however, that the Demand Registration rights and Shelf Registration Statement rights of any Transferring Stockholder shall only be
transferable to a Transferee purchasing at least 66.67% of the Registrable Securities held by the Transferring Stockholder as of the date of this Agreement. 
 (b) Notwithstanding the foregoing, all rights (including, without limitation, Demand Registration rights and Shelf Registration Statement rights) of a Transferring Stockholder shall be transferable to a
Permitted Transferee that acquires Registrable Securities from such Transferring Stockholder. 
 (c) Any such transfer of rights
under this Agreement will be effective upon (i) receipt by the Company of written notice from such Transferring Stockholder stating the name and address of any Transferee and identifying the number of Registrable Securities with respect to
which rights under this Agreement are being transferred and the nature of the rights so transferred and (ii) receipt by the Company of a written agreement from the Transferee to be bound by the terms of this Agreement, upon which such
Transferee will be deemed to be a party hereto and have the rights and obligations of the Transferring Stockholder hereunder with respect to the Registrable Securities transferred. 

(d) In connection with any transfer pursuant to the proviso in Section 11.02(a) or
Section 11.02(b) in which the Transferee acquires Demand Registration rights and Shelf Registration rights, Schedule 2 of this Agreement will be amended so as to reflect such transfer and such amended Schedule 2 will be in a form
determined by the Company and the Transferee. 

SECTION 11.03. Successors and Assigns. Except as otherwise expressly provided herein, all covenants and agreements contained in
this Agreement by or on behalf of any of the parties hereto will bind and inure to the benefit of the 
  

  
 17 

 
respective successors, assigns, heirs, executors and personal representatives of the parties hereto, whether so expressed or not. 

SECTION 11.04. Descriptive Headings. The descriptive headings of this Agreement are inserted for convenience of reference only and
do not constitute a part of and shall not be utilized in interpreting this Agreement. 
 SECTION 11.05. Notices. Any
notice or communication by the Company, any Stockholder Representative or any Eligible Stockholder is duly given if in writing and delivered in person or by first class mail (registered or certified, return receipt requested), facsimile
transmission, email or overnight air courier guaranteeing next day delivery, to the recipient’s address: 
 If to the
Company: 
 The Fresh Market, Inc. 
 628 Green Valley Road, Suite 500 
 Greensboro, North Carolina 27408 

Facsimile No.: (336) 272-1664 
 Attention: General Counsel 
 With a copy to: 

Cravath, Swaine & Moore LLP 
 Worldwide Plaza 
 825 Eighth Avenue 

New York, New York 10019 
 Facsimile No.: (212) 474-3700 
 Attention: Craig F. Arcella 

If to an Eligible Stockholder, to the address indicated on Schedule 1 attached hereto as amended from time to time. 

If to a Stockholder Representative, to the address indicated on Schedule 2 attached hereto as amended from time to time.

 The Company, any Stockholder Representative or any Eligible Stockholder, by notice to the other parties hereto, may designate
additional or different addresses for subsequent notices or communications. All notices and communications will be deemed to have been duly given: at the time delivered by hand, if personally delivered; five Business Days after being deposited in
the mail, postage prepaid, if mailed; when receipt acknowledged, if transmitted by facsimile; and the next Business Day after timely delivery to the courier, if sent by overnight air courier guaranteeing next day delivery. If a notice or
communication is mailed, transmitted or sent in the manner provided above within the time prescribed, it is duly given, whether or not the addressee receives it. 

  
 18 

 SECTION 11.06. GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK EXCLUDING (TO THE GREATEST EXTENT PERMISSIBLE BY LAW) ANY RULE OF LAW THAT WOULD CAUSE THE APPLICATION OF THE LAWS OF ANY JURISDICTION OTHER THAN THE STATE OF NEW YORK. 

SECTION 11.07. Consent to Jurisdiction. Each of the parties (a) consents to submit itself to the personal jurisdiction of the
courts of the State of New York and any Federal court sitting in the State of New York in the event any dispute arises out of this Agreement or 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 the transactions contemplated by this Agreement in any court other than
the courts of the State of New York or any Federal court sitting in the State of New York. 
 SECTION 11.08. Remedies.
Each of the parties to this Agreement will be entitled to enforce its rights under this Agreement specifically, to recover damages by reason of any breach of any provision of this Agreement and to exercise all other rights existing in its favor. The
parties hereto agree and acknowledge that money damages may not be an adequate remedy for any breach of the provisions of this Agreement and that any party shall be entitled to immediate injunctive relief or specific performance without bond or the
necessity of showing actual monetary damages in order to enforce or prevent any violations of the provisions of this Agreement. 

SECTION 11.09. Further Assurances. Each of the parties hereto will, without additional consideration, execute and deliver such
further instruments and take such other action as may be reasonably requested by any other party hereto in order to carry out the purposes and intent of this Agreement. 
 SECTION 11.10. Severability. If any provision of this Agreement (or any portion thereof) or the application of any such provision (or any portion thereof) to any Person or circumstance shall be
held invalid, illegal or unenforceable in any respect by a Governmental Authority, such invalidity, illegality or unenforceability shall not affect any other provision hereof (or the remaining portion thereof) or the application of such provision to
any other persons or circumstances. Upon such determination that any provision of this Agreement (or any portion thereof) or the application of any such provision (or any portion thereof) to any Person or circumstance is invalid, illegal or
unenforceable, the parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties hereto as closely as possible in an acceptable manner to the end that the transactions contemplated hereby
are fulfilled to the extent possible. 
 SECTION 11.11. Entire Agreement. This Agreement (including Schedules 1
and 2 attached hereto) constitutes the entire agreement of the parties with respect to the subject matter hereof and supersede and shall supersede all prior 

  
 19 

 
agreements and understandings (whether written or oral) among the Company, the Stockholder Representatives and the Eligible Stockholders, or any of them, with respect to the subject matter
hereof. 
 SECTION 11.12. Execution in Counterparts. This Agreement may be executed by any one or more of the parties
hereto in any number of counterparts, each of which shall be deemed to be an original, but all such respective counterparts shall together constitute one and the same instrument. Delivery of an executed counterpart of a signature page of this
Agreement by facsimile or other electronic image scan shall be effective as delivery of a manually executed counterpart of this Agreement. 
 SECTION 11.13. No Third Party Beneficiaries. Except as provided in Articles VIII and IX and Section 11.02, nothing in this Agreement is intended or shall be construed
to give any Person, other than the parties hereto, their successors and permitted assigns, any legal or equitable right, remedy or claim under or in respect of this Agreement or any provision contained herein. 

SECTION 11.14. Waiver of Certain Damages. To the extent permitted by applicable law, each party hereto agrees not to assert, and
hereby waives, any claim against any other party hereto, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this
Agreement or any of the transactions contemplated hereby. 
 SECTION 11.15. WAIVER OF JURY TRIAL. EACH PARTY HEREBY
WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY WITH RESPECT TO ANY DISPUTE ARISING OUT OF THIS AGREEMENT. EACH PARTY (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY
HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT
BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 11.15. 
 [Signature pages follow.]

  
 20 

 IN WITNESS WHEREOF, the parties hereto have executed this Registration Rights Agreement as
of the date first above written. 
  

			
	 THE FRESH MARKET INC.,

 

	by	 	
		 	 /s/ Craig Carlock

		 	Name:  Craig Carlock
		 	Title:    President and CEO

 
			
	 The Eligible Stockholders:

 

	 J.P. MORGAN TRUST COMPANY OF DELAWARE, AS TRUSTEE OF THE JENNER TRUST

 

		 	 by /s/ Timothy Egan

		 	     Name:

    Title:

	  
 J.P. MORGAN TRUST COMPANY OF DELAWARE, AS TRUSTEE OF
THE UNGER TRUST
  

		 	 by /s/ Timothy Egan

		 	     Name:

    Title:

	  
 J.P. MORGAN TRUST COMPANY OF DELAWARE, AS TRUSTEE OF
THE FLOYD TRUST
  

		 	 by /s/ Timothy Egan

		 	     Name:

    Title:

	  
 J.P. MORGAN TRUST COMPANY OF DELAWARE, AS TRUSTEE OF
THE KEIGAN TRUST
  

		 	 by /s/ Timothy Egan

		 	     Name:

    Title:

	  
 AMY B. BARRY, AS CO-TRUSTEE OF

THE ROSSLER TRUST
  

		 	 by /s/ Amy Barry

		 	    Amy B. Barry

 
			
	BRETT M. BERRY, AS CO-TRUSTEE OF THE ROSSLER TRUST
		
		 	 by /s/ Brett M. Berry

		 	    Brett M. Berry
	
	J.P. MORGAN TRUST COMPANY OF DELAWARE, AS CO-TRUSTEE OF THE ROSSLER TRUST
		
		 	 by /s/ Timothy Egan

		 	     Name:

    Title:

	
	WINSTON B. BERRY, AS CO-TRUSTEE OF THE TUTTLE TRUST
		
		 	 by /s/ Winston B. Berry

		 	    Winston B. Berry
	
	J.P. MORGAN TRUST COMPANY OF DELAWARE, AS CO-TRUSTEE OF THE TUTTLE TRUST
		
		 	 by /s/ Timothy Egan

		 	     Name:

    Title:

	
	WINSTON B. BERRY, AS CO-TRUSTEE OF THE MILLARD TRUST
		
		 	 by /s/ Winston B. Berry

		 	    Winston B. Berry
	
	J.P. MORGAN TRUST COMPANY OF DELAWARE, AS CO-TRUSTEE OF THE MILLARD TRUST
		
		 	 by /s/ Timothy Egan

		 	     Name:

    Title:

 
			
	 MICHAEL J. BARRY, AS CO-TRUSTEE OF THE LERRA TRUST
  

		 	 by    /s/ Michael Barry

		 	    Michael J. Barry
	  
 J.P. MORGAN TRUST COMPANY OF DELAWARE, AS CO-TRUSTEE
OF THE LERRA TRUST
  

		 	 by    /s/ Timothy Egon

		 	     Name: Timothy Egon
     Title: Vice President

	  
 MICHAEL J. BARRY, AS CO-TRUSTEE OF THE FARRA
TRUST
  

		 	 by    /s/ Michael Barry

		 	    Michael J. Barry
	  
 J.P. MORGAN TRUST COMPANY OF DELAWARE, AS CO-TRUSTEE
OF THE FARRA TRUST
  

		 	 by    /s/ Timothy Egon

		 	     Name: Timothy Egon
     Title: Vice President

	  
 MICHAEL J. BARRY, AS CO-TRUSTEE OF THE CAITO
TRUST
  

		 	 by    /s/ Michael Barry

		 	    Michael J. Barry
	  
 J.P. MORGAN TRUST COMPANY OF DELAWARE, AS CO-TRUSTEE
OF THE CAITO TRUST
  

		 	 by    /s/ Timothy Egon

		 	     Name: Timothy Egon
     Title: Vice President

 
			
	BRETT M. BERRY, AS TRUSTEE OF THE GIBSON TRUST
		
		 	 by /s/ Brett Berry

		 	    Brett M. Berry
	
	RAY D. BERRY, AS TRUSTEE OF THE PAIKO TRUST
		
		 	 by /s/ Ray Berry

		 	    Ray D. Berry
	
	AMY B. BARRY, AS TRUSTEE OF THE ATMA TRUST
		
		 	 by /s/ Amy Barry

		 	    Amy B. Barry
	
	J.P. MORGAN TRUST COMPANY OF DELAWARE, AS TRUSTEE OF THE ELLER TRUST
		
		 	 by /s/ Timothy Egon

		 	    Name: Timothy Egon
		 	    Title: Vice President

 The Stockholder Representatives: 

 

	
	 /s/ Ray Berry

	Ray D. Berry
	
	 /s/ Brett Berry

	Brett M. Berry
	
	 /s/ Amy Barry

	Amy B. Barry

 Schedule 1 
 Eligible Stockholders 
 Jenner Trust 
 c/o J.P. Morgan Trust Company of Delaware 
 500 Stanton Christiana Road 

DE3-1680 
 Newark, Delaware 19713-2107

 Facsimile: 302-634-4474 
 Attn:
Timothy S. Egan 
 Unger Trust 
 c/o
J.P. Morgan Trust Company of Delaware 
 500 Stanton Christiana Road 
 DE3-1680 
 Newark, Delaware 19713-2107 
 Facsimile: 302-634-4474 
 Attn: Timothy S. Egan 

Floyd Trust 
 c/o J.P. Morgan Trust Company of
Delaware 
 500 Stanton Christiana Road 

DE3-1680 
 Newark, Delaware 19713-2107

 Facsimile: 302-634-4474 
 Attn:
Timothy S. Egan 
 Keigan Trust 
 c/o
J.P. Morgan Trust Company of Delaware 
 500 Stanton Christiana Road 
 DE3-1680 
 Newark, Delaware 19713-2107 
 Facsimile: 302-634-4474 
 Attn: Timothy S. Egan 

Rossler Trust 
 c/o J.P. Morgan Trust Company of
Delaware 
 500 Stanton Christiana Road 

DE3-1680 
 Newark, Delaware 19713-2107

 Facsimile: 302-634-4474 
 Attn:
Timothy S. Egan 
 With copies to: 

Amy B. Barry 

 c/o The Fresh Market, Inc. 
 628 Green Valley Road, Suite 500 
 Greensboro, North Carolina 27408 

Facsimile: (336) 272-1664 
 and 

Brett M. Berry 
 c/o The Fresh Market, Inc.

 628 Green Valley Road, Suite 500 

Greensboro, North Carolina 27408 
 Facsimile:
(336) 272-1664 
 Tuttle Trust 

c/o J.P. Morgan Trust Company of Delaware 
 500
Stanton Christiana Road 
 DE3-1680 

Newark, Delaware 19713-2107 
 Facsimile:
302-634-4474 
 Attn: Timothy S. Egan 

With a copy to: 
 Winston B. Berry 

c/o The Fresh Market, Inc. 
 628 Green Valley
Road, Suite 500 
 Greensboro, North Carolina 27408 
 Facsimile: (336) 272-1664 
 Millard Trust 

c/o J.P. Morgan Trust Company of Delaware 
 500
Stanton Christiana Road 
 DE3-1680 

Newark, Delaware 19713-2107 
 Facsimile:
302-634-4474 
 Attn: Timothy S. Egan 

With a copy to: 
 Winston B. Berry 

c/o The Fresh Market, Inc. 
 628 Green Valley
Road, Suite 500 
 Greensboro, North Carolina 27408 
 Facsimile: (336) 272-1664 
 Lerra Trust 

c/o J.P. Morgan Trust Company of Delaware 
 500
Stanton Christiana Road 

  
 28 

 DE3-1680 
 Newark, Delaware 19713-2107 
 Facsimile: 302-634-4474 

Attn: Timothy S. Egan 
 With a copy to:

 Michael J. Barry 
 c/o The Fresh
Market, Inc. 
 628 Green Valley Road, Suite 500 
 Greensboro, North Carolina 27408 
 Facsimile: (336) 272-1664 

Farra Trust 
 c/o J.P. Morgan Trust Company of
Delaware 
 500 Stanton Christiana Road 

DE3-1680 
 Newark, Delaware 19713-2107

 Facsimile: 302-634-4474 
 Attn:
Timothy S. Egan 
 With a copy to: 

Michael J. Barry 
 c/o The Fresh Market, Inc.

 628 Green Valley Road, Suite 500 

Greensboro, North Carolina 27408 
 Facsimile:
(336) 272-1664 
 Caito Trust 

c/o J.P. Morgan Trust Company of Delaware 
 500
Stanton Christiana Road 
 DE3-1680 

Newark, Delaware 19713-2107 
 Facsimile:
302-634-4474 
 Attn: Timothy S. Egan 

With a copy to: 
 Michael J. Barry 

c/o The Fresh Market, Inc. 
 628 Green Valley
Road, Suite 500 
 Greensboro, North Carolina 27408 
 Facsimile: (336) 272-1664 
 Paiko Trust 

c/o The Fresh Market, Inc. 
 628 Green Valley
Road, Suite 500 
 Greensboro, North Carolina 27408 

  
 29 

 Facsimile: (336) 272-1664 
 Attention: Ray D. Berry 
 Gibson Trust 
 c/o The Fresh Market, Inc. 
 628 Green Valley Road, Suite 500 

Greensboro, North Carolina 27408 
 Facsimile:
(336) 272-1664 
 Attention: Brett M. Berry 
 Atma Trust 
 c/o The Fresh Market, Inc. 
 628 Green Valley Road, Suite 500 
 Greensboro, North Carolina 27408 

Facsimile: (336) 272-1664 
 Attention: Amy
B. Barry 
 Eller Trust 
 c/o J.P.
Morgan Trust Company of Delaware 
 500 Stanton Christiana Road 
 DE3-1680 
 Newark, Delaware 19713-2107 
 Facsimile: 302-634-4474 
 Attn: Timothy S. Egan 

  
 30 

 Schedule 2 

 

			
	 Stockholder
 Representatives
	  	 Eligible Stockholders Represented by such Stockholder

Representatives

	Ray D. Berry	  	Floyd Trust; Keigan Trust; Paiko Trust
		
	Brett M. Berry	  	Jenner Trust; Tuttle Trust; Millard Trust; Gibson Trust; Eller Trust
		
	Amy B. Barry	  	Unger Trust; Rossler Trust; Lerra Trust; Farra Trust; Caito Trust; Atma Trust

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00186-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00186-of-00352.parquet"}]]