Document:

Umbrella Agreement

 Exhibit 10(www) 
 CONFIDENTIAL MATERIAL HAS BEEN 
 OMITTED AND FILED SEPARATELY WITH THE 
 SECURITIES AND EXCHANGE COMMISSION. 
 ASTERISKS DENOTE SUCH OMISSIONS. 
 UMBRELLA AGREEMENT 
 This UMBRELLA AGREEMENT (this “Agreement”), dated as of March 1, 2007, and effective as of April 12, 2006 (the
“Effective Date”), is by and among Mittal Steel USA Inc., a Delaware corporation (“Mittal USA”) formerly called Ispat Inland Inc. (“Inland”), ISG Cleveland Inc., a Delaware
corporation (“ISG Cleveland”), ISG Indiana Harbor Inc., a Delaware corporation (“ISG Indiana Harbor”), Mittal Steel USA - Weirton Inc., a Delaware corporation (“Mittal Weirton”
and, collectively with Mittal USA, ISG Cleveland and ISG Indiana Harbor, “Mittal” or the “Mittal Parties”, as applicable), Cleveland-Cliffs Inc, an Ohio corporation (“CCI”), The
Cleveland-Cliffs Iron Company, an Ohio corporation (“CCIC”), Cliffs Mining Company, a Delaware corporation (“CMC”), Northshore Mining Company, a Delaware corporation
(“Northshore”), and Cliffs Sales Company, an Ohio corporation formerly known as Northshore Sales Company (“Sales” and, collectively with CCI, CCIC, CMC and Northshore, “Cliffs”
or the “Cliffs Parties”, as applicable). 
 RECITALS 
 WHEREAS, the Cliffs Parties (other than CCI), Mittal USA (as successor in interest to International Steel Group Inc.), ISG Cleveland and ISG Indiana
Harbor are parties to that certain Pellet Sale and Purchase Agreement, dated as of April 10, 2002, as amended by that certain First Amendment to Pellet Sale and Purchase Agreement, dated as of December 16, 2004 (the “Cleveland
Contract”), providing for the purchase of iron ore pellets for the ISG Cleveland and ISG Indiana Harbor iron and steel making facilities (the “Cleveland Works” and the “Indiana Harbor
Works,” respectively); 
 WHEREAS, CCIC, CMC and Inland are parties to that certain Pellet Sale and Purchase Agreement, dated as
of December 31, 2002 (the “Inland Contract”), providing for the purchase of iron ore pellets for the Inland iron and steel making facilities (the “Inland Works”); 
 WHEREAS, the Cliffs Parties (other than CCI), Mittal USA (as successor in interest to International Steel Group Inc.) and Mittal Weirton are parties to
that certain Amended and Restated Pellet Sale and Purchase Agreement, dated as of May 17, 2004 (the “Weirton Contract” and, collectively with the Cleveland Contract and the Inland Contract, the “Pellet Supply
Contracts”), providing for the purchase by Mittal of iron ore pellets for the Weirton iron and steel making facilities (the “Weirton Works” and, collectively with the Cleveland Works, the Indiana Harbor Works and
the Inland Works, the “Covered Facilities”); 
 WHEREAS, on April 12, 2006, Mittal USA and CCI entered into a
binding letter agreement resolving certain disputed matters between Cliffs and Mittal and amending certain provisions of each of the Pellet Supply Contracts (the “Letter Agreement”); and 
 WHEREAS, as part of the Letter Agreement, the parties agreed to negotiate in good faith to enter into this Agreement, which more fully sets forth the
various agreements among the parties initially set forth in the Letter Agreement and terminates and supersedes the Letter Agreement in its entirety. 
  

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 STATEMENT OF AGREEMENT 
 NOW, THEREFORE, in consideration of the foregoing premises and the mutual representations, covenants and agreements set forth herein, the parties hereto hereby agree as follows: 
 ARTICLE I 
 UMBRELLA AGREEMENTS RELATING TO
THE PELLET SUPPLY CONTRACTS 
 1.1     Purchase and Sale Obligations. 
 (a)    Subject to Sections 1.3 and 1.4, Cliffs shall sell and deliver, or cause to be sold and delivered, to Mittal,
and Mittal shall purchase, receive, take and pay the applicable contract price (determined in accordance with Section 1.2, the “Contract Price”) for the following minimum annual amounts of iron ore pellets: (i) for each
year 2006 through 2009, [*********] tons of pellets; and (ii) for the year 2010, [*********] tons of pellets (as applicable, and as such minimum annual amounts of iron ore pellets may be adjusted under Sections 1.3 and 1.4, the
“Required Minimum Tonnage”), without regard to Mittal’s actual iron ore pellet requirements. The word “ton” as used herein shall mean a gross ton of 2,240 pounds avoirdupois natural weight. 
 (b)    Tons of iron ore pellets purchased by Mittal from the [*********] shall count toward Mittal’s obligation
to purchase the Required Minimum Tonnage. However, iron ore pellets [*********] shall not count toward Mittal’s obligation to purchase the Required Minimum Tonnage. 
 (c)    For the years 2006 through 2010, the obligations set forth in this Section 1.1 are intended to and shall
supersede and replace the quantity-related provisions (including the requirements provisions) set forth in each of the Pellet Supply Contracts as follows: (i) all of Section 2 of the Cleveland Contract; (ii) all of Section 2 of
the Weirton Contract; and (iii) all of Section 2 of the Inland Contract, except as provided in Sections 1.1(d) and 1.1(h). For the years 2006 through 2010, any cross-reference in a Pellet Supply Contract to a quantity-related provision
superseded pursuant to the preceding sentence shall be deemed to be a cross-reference to the applicable quantity-related provision of this Agreement. Commencing January 1, 2011 under the Cleveland Contract and the Weirton Contract, and
commencing February 1, 2011 under the Inland Contract, the aforementioned provisions of the Pellet Supply Contracts shall be reinstated as provided in Section 6.1. 
 (d)    Inland’s rights under Section 2(a) of the Inland Contract to reduce the minimum annual tonnage
purchase obligation under the Inland Contract in connection with the [*********] shall be reinstated effective [*********], such that Inland may give notice to Cliffs of [*********] no earlier than 

  

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[*********], with any reduction in the minimum annual tonnage purchase obligation to be effective no earlier than [*********]. 
 (e)    Except as otherwise expressly modified by this Agreement, the parties’ rights and obligations shall in
all other respects be subject to, and governed by, the applicable provisions of the Pellet Sales Contracts. Accordingly, except as modified by this Agreement: (i) the purchase of pellets to be delivered to the Cleveland Works or the Indiana
Harbor Works would be subject to, and governed by, the Cleveland Contract; (ii) the purchase of pellets to be delivered to the Inland Works would be subject to, and governed by, the Inland Contract; and (iii) the purchase of pellets to be
delivered to the Weirton Works would be subject to, and governed by, the Weirton Contract. 
 (f)    Mittal may transfer iron ore pellets purchased or to be purchased under this Agreement to any iron and steel making facility(s) owned directly or indirectly by Mittal Steel Company N.V. other than the Covered
Facility(s) (each, an “Other Facility”). The pricing, terms and conditions of the purchase of any pellets to be transferred to any Other Facility shall be agreed to in advance and shall be based upon either the Cleveland
Contract or the Inland Contract. In the event the costs of delivering pellets to an Other Facility exceed the costs that otherwise would be incurred to deliver pellets to the Covered Facilities under the Cleveland or Inland Contract, as applicable,
the additional costs shall be borne by Mittal. In the event the costs of delivering pellets to an Other Facility are less than the costs that otherwise would be incurred to deliver pellets to the Covered Facilities under the Cleveland or Inland
Contract, as applicable, Mittal shall receive a credit in the amount of such difference, which credit shall be reflected in the next invoice provided by Cliffs to Mittal. 
 (g)    Notwithstanding any other provision of this Agreement or any of the Pellet Supply Contracts, Cliffs shall not
under any circumstances without its prior written consent be required to sell under the Pellet Supply Contracts more than [*********] (the “Maximum Tonnage”); provided, that Cliffs will have the right of first
refusal, but not the obligation, to supply all or any portion of Mittal’s pellet requirements in excess of the Maximum Tonnage (“Supplemental Tonnage”), which right must be exercised within 30 days after receipt by
Cliffs of a written request from Mittal for any Supplemental Tonnage. In the event that: (i) any of the Covered Facilities are transferred or any of the Pellet Supply Contracts are assigned to a third party; and (ii) such third party
transferee or assignee in any year requires pellets from Cliffs for use at the transferred Covered Facility or pursuant to the assigned Pellet Supply Contract, then the amount nominated by the third party for each year of the remaining term of the
Pellet Supply Contract shall count toward the Maximum Tonnage for such year. Cliffs shall notify Mittal as to the amount nominated by the third party and the remaining amount of the Maximum Tonnage available to Mittal in any year as soon as
practicable. 
 (h)    Anything in this Agreement to the contrary notwithstanding, Inland’s rights
to “cover” in respect of any iron ore pellet supply shortfalls on the terms and subject to the conditions set forth in Section 2(b) of the Inland Contract (starting with the fourth sentence thereof through the end of such section),
and the application of a 

  

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“Surcharge Reduction” to the extent so provided in such Section 2(b), shall not be replaced or superseded by this Agreement but shall apply in
respect of iron ore pellets allocated to the Inland Works in any year pursuant to this Agreement. 
 1.2     Pricing
and Payment. 
 (a)    In accordance with Section 1.1(e), the Contract Price shall be determined
in accordance with the pricing provisions of the Pellet Supply Contract applicable to the Covered Facility where such pellets are delivered or, in the case of pellets transferred to an Other Facility, in accordance with either the Cleveland Contract
or the Inland Contract as agreed to in advance by the parties in accordance with Section 1.1(f). Payments will be made in accordance with the relevant invoice and payment provisions of the applicable Pellet Supply Contract. 
 (b)    In each of 2007, 2008, 2009 and 2010, pursuant to Section 1.1, and except as otherwise provided in this
Section, Section 1.3 or Section 1.4, as applicable, Mittal shall make payments to Cliffs for pellets in such year (the “Subject Year”) such that, no later than December 31 of the Subject Year, Mittal shall have paid Cliffs
the Contract Price for the Required Minimum Tonnage for the Subject Year, whether or not Mittal, in fact, takes delivery of all, a portion or none of the Required Minimum Tonnage during the Subject Year, all in accordance with and conditioned upon
the following: No later than November 30 of each Subject Year, Cliffs shall provide initial notification to Mittal (with final confirmation in the form of an appropriate invoice delivered to Mittal by [*********] (“Annual Shortfall
Tonnage”), if any. If there is no Annual Shortfall Tonnage, the remainder of this Section 1.2(b) shall not apply for the Subject Year. If there is an Annual Shortfall Tonnage, then concurrent with such initial notification, Cliffs
shall assign to Mittal an amount of iron ore pellets that Cliffs has in stockpile equal to the same quantity, grade and quality as the Annual Shortfall Tonnage, which amount would be adjusted in accordance with the final confirmation thereafter sent
by Cliffs. Payment for the Annual Shortfall Tonnage shall be made by Mittal in the form of a lump sum cash payment no later than the last business day in December of the Subject Year. Such lump sum payment shall be equal to the product of the
(i) Contract Price in effect for the Subject Year multiplied by (ii) the Annual Shortfall Tonnage, less tonnage that was not assigned into stockpile for Mittal’s account. Mittal shall have no obligation to pay for any portion of the
Annual Shortfall Tonnage that is not assigned into stockpile during the Subject Year. Without regard to when assignment into stockpile occurs during the Subject Year, all of the Annual Shortfall Tonnage for a Subject Year shall be subject to the
Contract Price in effect for the Subject Year. Cliffs shall be permitted to recover from Mittal [*********]. 
  

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 1.3    Notification and Nomination. 
 (a)    Overall Nomination. With respect to the Required Minimum Tonnage to be purchased by Mittal in each year
2006 through 2010, inclusive, as provided in Section 1.1, on or before [*********] of the prior year (excluding the year 2006, which has been separately provided for in Section 1.3(b)), Mittal shall notify Cliffs in writing of:
(i) Mittal’s proposed allocation of the Required Minimum Tonnage among the Covered Facilities for the coming year; (ii) whether Mittal proposes to purchase any tons in excess of the Required Minimum Tonnage in the coming year (any
such excess, the “Excess Tonnage”) and, if so, the amount and allocation of the Excess Tonnage among the Covered Facilities; (iii) whether Mittal proposes to transfer any pellets (including Excess Tonnage) to any Other
Facility and, if so, the amount to be transferred to any Other Facility; (iv) the ore grades and types of pellets proposed to be supplied by Cliffs and purchased by Mittal during the coming year; and (v) a preliminary delivery schedule by
ore grade for each month of the coming year (collectively, the “Annual Nomination”). Such matters shall be reduced to writing and confirmed by Mittal and Cliffs by [*********]. If Mittal fails to adhere to the provisions of
this Section 1.3(a), then Cliffs shall be entitled to proceed in the coming year on the basis of the prior year’s Annual Nomination, and Mittal shall be obligated to accept such performance; provided, that Cliffs shall use
commercially reasonable efforts to mitigate its damages (including by adjusting iron ore pellet production to the extent commercially reasonable) upon receipt of evidence from Mittal that is reasonably satisfactory to Cliffs that Mittal will not be
able to proceed in the coming year on the basis of the prior year’s Annual Nomination. 
 (b)    Year 2006.  During the year 2006 Cliffs shall sell and deliver, and Mittal shall purchase from Cliffs hereunder and take and pay for, the Required Minimum Tonnage for year 2006 in such grades and
qualities as may be agreed to among the parties, subject to the delivery schedule as may be agreed to among the parties. 
 (c)    Years 2007, 2008 and 2009 Buyout Options.  For each year 2007, 2008 and 2009, Mittal may make a one-time election to buy out up to [*********] of its Required Minimum Tonnage purchase obligations
if Mittal pays Cliffs an amount equal to [********] (the “Buyout Price”). The foregoing reduction in the Required Minimum Tonnage purchase obligation by paying for tons not purchased is referred to herein as a
“buyout.” Such buyout may be taken in decreasing amounts throughout such year as follows: (i) [*********]; (ii) [*********]; or (iii) [********], in each case, at the Buyout Price. Notwithstanding the foregoing, if Mittal
shall have elected to defer its purchase of any portion of the Required Minimum Tonnage from the prior year into the then-current year (as permitted by Section 1.3(d)), then Mittal shall, [*********]. 

  

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For any tons bought out by Mittal in accordance with this Section 1.3(c), Mittal shall pay to Cliffs [*********]. After [*********] of such year,
[*********]. The Buyout Price shall be [*********] during the period 2006 through 2010. 
 (d)    Years 2007, 2008 and 2009 Deferral Options.  For each year 2007, 2008 and 2009, Mittal may make a one-time election to defer up to [*********] its Required Minimum Tonnage purchase obligation into
the next year (such tonnage, the “Deferral Tonnage”). Such deferral election may be taken [*********] as follows: (i) [*********]; (ii) [*********]; or (iii) [**********]. Notwithstanding the foregoing, if
[*********]. Set forth on Schedule 1.3(d) are tabular examples and explanations of the operation of the buyout and deferral mechanisms for the years 2006 through 2010. The express terms contained in the body of this Agreement shall
control any discrepancy between such terms and the examples and explanations set forth on Schedule 1.3(d). 
 (e)    Year 2010. 
 (i)    For the year 2010, Mittal may make a
one-time election to reduce its Required Minimum Tonnage purchase obligation by [*********]. Such reduction may be taken [*********] as follows: (A) [*********]; (B) [*********]; or (C) [*********]. Notwithstanding the foregoing,
[*********]. 
  

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 (ii)    If Mittal shall [*********] from the year 2009, then, for the
year 2010, Mittal may make a one-time election to buy out [*********]. Such buyout may be taken [*********] as follows: (A) [*********]; (B) [*********]; or (C) [*********]. For any tons bought out by Mittal in accordance with this
Section 1.3(e)(ii), Mittal shall pay to Cliffs [*********]. After [*********]. 
 (iii)    In
addition to and without limiting the buyout provisions of Section 1.3(e)(ii), if Mittal shall [*********], Mittal may [*********]. For any tons bought out by Mittal in accordance with this Section 1.3(e)(iii), Mittal shall pay to Cliffs
[*********]. 
 (f)    Excess Tonnage.  If Mittal nominates any amount of Excess Tonnage
for a given year, as permitted by Section 1.3(a)(ii), Mittal’s Annual Nomination as provided for in Section 1.3(a) shall include [*********]. Cliffs shall be obligated to supply Excess Tonnage nominated by Mittal so long as
(i) [*********] (“Total Tonnage”) [*********] and (ii) the [*********]. If Mittal nominates any amount of Excess Tonnage for a given year, Mittal may [*********] as follows: (x) [*********];
(y) [*********]; or (z) [*********]. 
  

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 In no event shall Mittal be permitted a reduction in the Required Minimum Tonnage to be purchased by it
which is greater than the reduction permitted under and implemented in accordance with those paragraphs, even if, as a result, [*********]. If Mittal implements a portion of its proposed reduction [*********] under those paragraphs, [*********]
under those paragraphs. Cliffs shall notify Mittal within [*********]. After [**********] of such year, Mittal shall not [*********]. If Mittal elects to [**********]. Set forth on Schedule 1.3(f) are tabular examples and explanations of the
operation of this Subsection. The express terms contained in the body of this Agreement shall control any discrepancy between such terms and the examples and explanations set forth on Schedule 1.3(f). 
 (g)    At [*********] during the then-current year, Mittal may request an adjustment in the allocation among the
grades of [*********] provided by Cliffs hereunder, and by [*********], and Cliffs shall use [*********] commercially reasonable efforts to accommodate such requests. Cliffs shall not produce tonnage [*********]. At [*********] during the
then-current year, Mittal may request an adjustment [*********] and Cliffs shall use commercially reasonable efforts to accommodate such requests. 
 (h)    Any payments to be made by Mittal to Cliffs as a result of Mittal’s [*********] shall be paid to Cliffs [*********], with the [*********] being made no later than [*********]. Each such
payment shall be made in cash by wire transfer of immediately available funds to an account or accounts designated by Cliffs to Mittal. Mittal acknowledges that it shall [*********]. 
  

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 (i)    For the years 2006 through 2010, the obligations set forth in
this Section 1.3 are intended to and shall supersede and replace all notification or nomination-related provisions [*********] set forth in each of the Pellet Supply Contracts, including all of Section 4 of the Cleveland Contract except
for the substitution provisions of Section 4(g), all of Section 5 of the Inland Contract, and all of Section 4 of the Weirton Contract. Similarly, for the years 2006 through 2010, any cross-reference in another provision of a
Pellet Supply Contract to a superseded notification or nomination-related provision of such Pellet Supply Contract shall instead be deemed to be a cross-reference to the applicable notification or nomination-related provision of this Agreement.

 1.4    Force Majeure. 
 (a)    Section 1.4(b) controls this Agreement for the life of this Agreement and supersedes the force majeure
sections in the Pellet Supply Contracts with the exception of Section 16(b) of the Inland Contract, which shall function in conjunction with this Section. Upon termination of this Agreement, the force majeure clauses in each of the Pellet
Supply Contracts shall again control a force majeure event. 
 (b)    Notwithstanding anything in this
Agreement to the contrary, no party hereto shall be liable for damages resulting from failure to deliver or accept all or any of the iron ore pellets as described herein, if and to the extent that such delivery, acceptance or payment would be
contrary to or would constitute a violation of any regulation, order or requirement of a recognized governmental body or agency, or if such failure, including (i) failure of the mines supplying the iron ore pellets to be delivered under this
Agreement to produce the iron ore pellets, or (ii) failure of any one of the Covered Facilities to produce steel, is caused by or results directly or indirectly from: acts of God, war, insurrections, interference by foreign powers, acts of
terrorism, strikes, insurrections, labor disputes, labor shortages, fires, flood, embargoes, accidents or delay at the mines, on the railroads or docks or in transit, shortage of transportation facilities, disasters of navigation or other causes,
similar or dissimilar, if such other causes are beyond the control of the party charged with a failure to deliver or to accept the iron ore pellets. The inability to use iron ore pellets as a result of any of the foregoing causes shall also be a
force majeure event under this Section, excusing the Covered Facility(s) for the failure to accept pellets to the extent of such force majeure event, pro rata, with all other sources of pellets for the Covered Facility(s). To the
extent a force majeure is claimed hereunder by a party hereto, such shall relieve the other party from fulfilling its corresponding agreement hereunder the party claiming such force majeure, but only for the period and to the extent of the claimed
force majeure. The party that is subject to a force majeure event shall use commercially reasonable efforts to cure or remove the force majeure event as promptly as possible to resume performance of its obligations under this Agreement. Upon cure of
the force majeure event such prompt performance shall be on a pro-rata basis; provided, that Cliffs shall not be obligated to make up and deliver any lost production of iron ore pellets; provided further, that Mittal’s Required
Minimum Tonnage purchase obligation for any given year shall be reduced, on a ton-for-ton basis, (x) in the amount of any tonnage that Cliffs does not deliver in such year due to an event of force majeure, and (y) in the amount of any
tonnage that Mittal does not accept and 

  

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pay for in such year due to an event of force majeure at a Covered Facility. An event of force majeure at an Other Facility shall not excuse Mittal from any
failure to perform its obligations under this Agreement. 
 ARTICLE II 
 AGREEMENTS RELATING TO THE CLEVELAND CONTRACT 
 2.1      Waiver and Release of Special Payment Claims. Mittal hereby permanently waives and fully and finally releases, discharges and acquits each of the Cliffs Parties and their respective affiliates
(collectively, the “Released Persons”) of, from and with respect to any and all claims of any kind or character whatsoever, whether asserted or unasserted, known or unknown, that Mittal, its successors and assigns, or anyone
claiming through or under Mittal, ever had, now has or may hereafter have or acquire, against any of the Released Persons, arising out of or relating to Special Payments (as such term is defined in the Cleveland Contract) that have been made by
Mittal or its predecessors in interest to Cliffs on or prior to the date hereof. Mittal acknowledges its obligations, covenants and other agreements set forth in the Cleveland Contract with respect to the Special Payments payable by Mittal
thereunder (which shall include any applicable surcharges), and for the avoidance of doubt but without creating duplication, restates and independently establishes herein such obligations, covenants and other agreements and agrees to pay, perform
and discharge such obligations, covenants and agreements in accordance with the terms, and subject to the conditions, set forth herein and therein. 
 2.2    Waiver and Release of Claims Regarding 2004 Amendments. Mittal hereby permanently waives and fully and finally releases, discharges and acquits each of the Released Persons of, from and with respect to any
and all claims of any kind or character whatsoever, whether asserted or unasserted, known or unknown, that Mittal, its successors and assigns, or anyone else claiming through or under Mittal ever had, now has or may hereafter have or acquire against
the Released Persons based on events occurring prior to the date hereof for rescission or reformation of the December 16, 2004 amendment to the Cleveland Contract. 
 2.3    Pricing for Year-End Deliveries. Mittal shall pay Cliffs for any shipments of pellets under the Cleveland Contract nominated in any year that were delivered that year at the Contract
Price under the Cleveland Contract in effect for that year. Mittal shall pay Cliffs for any shipments of pellets under the Cleveland Contract nominated in any year and delivered in the subsequent year at the Contract Price under the Cleveland
Contract in effect for the subsequent year. Notwithstanding the foregoing, all payments for Annual Shortfall Tonnage shall be governed by Section 1.2(b). 
 2.4    Force Majeure Event. Mittal hereby agrees that it will not contest Cliffs’ January 27, 2005 force majeure claim with respect to [*********] under the Cleveland Contract.

  

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 ARTICLE III 
 AGREEMENTS RELATING TO THE INLAND CONTRACT 
 3.1    Cap on [*********].
Notwithstanding any other provision of this Agreement or the Inland Contract, CCIC and CMC shall not under any circumstances without their prior written consent be required hereunder or thereunder to sell to Mittal more than an aggregate amount of
[*********]. 
 3.2    [*********]. Subject to Section 1.3(g), Mittal shall continue to have the right to
[*********] in accordance with the terms of Section 3(b) of the Inland Contract; provided, that CCIC and CMC shall not be required to [*********] (and shall not incur any additional liability to Mittal) if the iron ore mine operated
[*********] and, as a result, [*********], or if an event of force majeure as contemplated by Section 1.4 occurs at such mine. In addition, in the event that the [*********], Cliffs may, upon [*********] to Mittal and with Mittal’s
consent, such consent not to be unreasonably withheld, [*********] that are not available for delivery to Mittal. [*********] shall be of a grade available for sale during such year (e.g., pellet grades not otherwise committed to another Cliffs
customer). In no event shall [*********]. 
 ARTICLE IV 
 AGREEMENTS RELATING TO THE WEIRTON CONTRACT 
 4.1    Elimination of Minimum Purchase
Obligation. Section 1(a) of the Weirton Contract is hereby amended by deleting the phrase “, with a minimum annual purchase obligation of [*********]. 
 4.2    Cancellation of Invoice. Cliffs hereby cancels invoice number 12205CSC-001 sent to Mittal on December 30, 2005, for [*********] under the Weirton Contract. As of the
Effective Date, such invoice shall be of no further force or effect, and Cliffs shall retain all right, title and interest in and to the pellets covered by such invoice and Mittal shall have no payment obligations with respect to the invoiced
tonnage. 
 4.3    Waiver and Release of Special Payment Claims. Mittal hereby permanently waives and fully and
finally releases, discharges and acquits each of the Released Persons of, from and with respect to any and all claims of any kind or character whatsoever, whether asserted or unasserted, known or unknown, that Mittal, its successors and assigns, or

  

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anyone claiming through or under Mittal, ever had or now has or may hereafter have or acquire, against any of the Released Persons, arising out of or
relating [*********]. Mittal acknowledges its obligations, covenants and other agreements set forth in the Weirton Contract with respect to the Special Payments payable by Mittal thereunder, including the inclusion of any applicable surcharges
therein, and for the avoidance of doubt but without creating duplication, restates and independently establishes herein such obligations, covenants and other agreements and agrees to pay, perform and discharge such obligations, covenants and
agreements in accordance with the terms, and subject to the conditions, set forth herein and therein. 
 ARTICLE V 
 REPRESENTATIONS AND WARRANTIES 
 5.1    Representations and Warranties of the Cliffs Parties. Each of the Cliffs Parties hereby severally and not jointly represents and warrants to Mittal as follows: 
 (a)    The Cliffs Party is a corporation duly organized and validly existing under the laws of the state of its
incorporation. Such Cliffs Party has the corporate power and authority necessary to (i) execute, deliver and perform its respective obligations under this Agreement and (ii) consummate the transactions contemplated hereby. 
 (b)    This Agreement has been duly authorized, executed and delivered by the Cliffs Party and constitutes the legal,
valid and binding obligation of such Cliffs Party, enforceable against such Cliffs Party in accordance with its terms. 
 (c)    All authorizations, approvals and consents, if any, required to be obtained from, and all registrations, declarations and filings, if any, required to be made with, all governmental authorities and regulatory
bodies to permit the Cliffs Party to execute and deliver, and to perform its obligations under, this Agreement have been obtained or made, as the case may be, and all such authorizations, approvals, consents, registrations, declarations and filings
are in full force and effect. All terms and conditions contained in, or existing in respect of, such authorizations, approvals, consents, registrations, declarations and filings have been, to the extent necessary prior to the date of execution and
delivery hereof, duly satisfied and performed. 
 (d)    Neither the execution or delivery by the Cliffs
Party of this Agreement nor the consummation by such Cliffs Party of the transactions contemplated hereby, nor the fulfillment by such Cliffs Party of the terms and provisions hereof (i) will conflict with, violate or result in a breach of, any
of the terms, conditions or provisions of any law, regulation, order, writ, injunction, decree, determination or any other restriction to which such Cliffs Party is a party or by which such Cliffs Party or any of its assets are bound,
(ii) will, now or with the passage of time, the giving of notice or otherwise, conflict with, violate or result in a breach of, or 

  

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constitute a default under, any of the terms, conditions or provisions of such Cliffs Party’s organizational documents or of any loan agreement,
indenture, trust deed or other agreement or instrument to which such Cliffs Party is a party or by which such Cliffs Party is bound, or (iii) will result in the creation or imposition of any lien, charge, security interest or encumbrance of any
nature whatsoever upon the property or assets of such Cliffs Party. Such Cliffs Party is not in default under any agreement to which it is a party, which default could impair its ability to perform its obligations under this Agreement. 

5.2    Representations and Warranties of Mittal. Mittal hereby represents and warrants to each of the Cliffs Parties as
follows: 
 (a)    Mittal is a corporation duly organized and validly existing under the laws of the
state of its incorporation. Mittal has the corporate power and authority necessary to (i) execute, deliver and perform its obligations under this Agreement and (ii) consummate the transactions contemplated hereby. 
 (b)    This Agreement has been duly authorized, executed and delivered by Mittal and constitutes the legal, valid and
binding obligation of Mittal, enforceable against Mittal in accordance with its terms. 
 (c)    All
authorizations, approvals and consents, if any, required to be obtained from, and all registrations, declarations and filings, if any, required to be made with, all governmental authorities and regulatory bodies to permit Mittal to execute and
deliver, and to perform its obligations under, this Agreement have been obtained or made, as the case may be, and all such authorizations, approvals, consents, registrations, declarations and filings are in full force and effect. All terms and
conditions contained in, or existing in respect of, such authorizations, approvals, consents, registrations, declarations and filings have been, to the extent necessary prior to the date of execution and delivery hereof, duly satisfied and
performed. 
 (d)    Neither the execution or delivery by Mittal of this Agreement nor the consummation
by Mittal of the transactions contemplated hereby, nor the fulfillment by Mittal of the terms and provisions hereof (i) will conflict with, violate or result in a breach of, any of the terms, conditions or provisions of any law, regulation,
order, writ, injunction, decree, determination or any other restriction to which Mittal is a party or by which Mittal or any of its assets are bound, (ii) will, now or with the passage of time, the giving of notice or otherwise, conflict with,
violate or result in a breach of, or constitute a default under, any of the terms, conditions or provisions of Mittal’s organizational documents or of any loan agreement, indenture, trust deed or other agreement or instrument to which Mittal is
a party or by which Mittal is bound, or (iii) will result in the creation or imposition of any lien, charge, security interest or encumbrance of any nature whatsoever upon the property or assets of Mittal. Mittal is not in default under any
agreement to which it is a party, which default could impair its ability to perform its obligations under this Agreement. 
  

 13 

 ARTICLE VI 
 GENERAL 
 6.1    Reaffirmation; Nature of Amendments; Conflicting Provisions.
Each of Cliffs and Mittal consents to, ratifies and approves each of the foregoing amendments to the Pellet Supply Contracts. Except as herein expressly modified, amended or superseded, all of the terms, conditions and provisions of each of the
Pellet Supply Contracts are hereby reaffirmed and agreed to and shall remain in full force and effect, and all changes, amendments and modifications effected by this Agreement shall automatically occur and be effective as of the Effective Date.
Notwithstanding the foregoing, except for the provisions and amendments set forth in Section 1.1(g), the last sentence of Section 1.3(g), Article II, Article III and Article IV (all of which shall be permanent), effective as
of December 31, 2010 with respect to the Cleveland Contract and the Weirton Contract, and as of January 31, 2011 with respect to the Inland Contract, unless otherwise agreed by the parties hereto, all other amendments to the Pellet Supply
Contracts set forth herein shall no longer be of any force or effect and the original contractual provisions of the Pellet Supply Contracts shall be reinstated and shall govern and control from and after such date. If there is a conflict or
inconsistency between this Agreement and any of the Pellet Supply Contracts, the terms of this Agreement shall control such difference. 
 6.2    Arbitration. Upon notice by either party to the other, all disputes, claims, questions or disagreements arising out of or relating to this Agreement or breach, termination, enforcement, interpretation or
validity hereof, including the scope or applicability of this agreement to arbitrate, shall be determined by arbitration administered by the American Arbitration Association in accordance with the provisions of its Commercial Arbitration Rules,
modified as follows: 
 (a)    the place of arbitration shall be Cleveland, Ohio; 
 (b)    unless the parties consent in writing to a lesser number, the arbitration proceedings shall be conducted
before a panel of three neutral arbitrators, one to be appointed by the Cliffs Parties, one to be appointed by Mittal, and the third to be selected by the two appointed arbitrators; provided, that none of the arbitrators shall be an employee,
shareholder, officer, director or consultant of any of the Cliffs Parties or Mittal. 
 (c)    consistent
with the expedited nature of arbitration, each party will, upon the written request of the other parties, promptly provide the other parties with copies of documents on which the producing party may rely or otherwise that may be relevant in support
of or in opposition to any claim or defense; any dispute regarding discovery, or the relevance or scope thereof, shall be determined by the arbitrators, which determination shall be conclusive; and all discovery shall be completed within 45 days
following the appointment of the arbitrators; 
 (d)    (i) before making their determination in any
matter, the arbitrators must request from each of the parties a complete statement of its proposed resolution of such matter, and the arbitrators shall select between the two proposed resolutions, without making any alteration to either of them (or
if either party does not submit a proposed 

  

 14 

 
resolution, or submits one that is materially incomplete, shall select the proposed resolution of the other party), and (ii) the arbitrators shall be
limited to awarding only one or the other proposed resolution; 
 (e)    the arbitrators shall have no
authority to alter, amend or modify any of the terms of this Agreement, nor may the arbitrators enter any award that alters, amends or modifies the terms of this Agreement in any form or manner; 
 (f)    the award or decision shall be made within nine months of the filing of the notice of intention to arbitrate,
and the arbitrators shall agree to comply with this schedule before accepting appointment; provided, that this time limit may be extended by written agreement by all parties, if necessary; and 
 (g)    the costs of the arbitrators shall be borne entirely by the party that does not prevail in the arbitration.

 The judgment by the arbitrators shall be final and binding on the parties hereto, and judgment upon the award rendered by the arbitrators
may be entered and enforced by any court of the United States or any State thereof. 
 6.3    All notices and other
communications authorized or required to be given hereunder shall be given in writing and shall be deemed to have been duly given (a) when delivered in person, (b) one business day after having been dispatched by a recognized overnight
delivery service, (c) five business days after having been mailed by registered or certified mail, return receipt requested, postage prepaid, (d) when dispatched by electronic facsimile transmission (with confirmation of successful
transmission), or (e) when dispatched by electronic mail (with confirmation of receipt), in each case addressed as follows: 
 If to any
of the Cliffs Parties: 
 c/o Cleveland-Cliffs Inc 
 1100 Superior Avenue – 15th Floor 
 Cleveland, Ohio 44114-2589 
 Attention: Executive Vice President – Commercial

 Facsimile No.: (216) 694-5534 
 Electronic Mail: wrcalfee@cleveland-cliffs.com 
 If to any of the Mittal Parties: 
 If to any of the Mittal Parties: 
 Mittal Steel USA Inc. 
 3300 Dickey Road 
 East Chicago, Indiana 46312 
 Attention: Vice President – Procurement 
 Facsimile No.: (219) 399-6851 
 Electronic Mail: om.mandhana@mittalsteel.com 
  

 15 

 Any party may change the contact information to which notices or other communications to it shall be sent
by giving to the other parties written notice of such change in accordance with this Section 6.3, in which case notices and other communications to the party giving the notice of the change of contact information shall not be deemed to have
been sufficiently given or delivered unless addressed to it at the new contact information stated in said notice. 
 6.4    Termination. This Agreement may be terminated only by the mutual written agreement of Mittal, on the one hand, and Cliffs, on the other hand. 
 6.5    Governing Law. This Agreement shall be governed by, and construed and enforced in accordance with, the laws of the
State of Ohio, including Article 2 of the Uniform Commercial Code as adopted in Ohio, without regard to the conflicts of law principles thereof. 
 6.6    Expenses. The parties to this Agreement shall bear their respective expenses, costs and fees (including attorneys’ fees) in connection with the transactions contemplated by this
Agreement, including the preparation, execution and delivery of this Agreement and compliance herewith. 
 6.7    Confidentiality. 
 (a)    The parties hereto acknowledge that
this Agreement contains certain volume, pricing and term provisions that are confidential, proprietary or of a sensitive commercial nature and that would put the parties at a competitive disadvantage if disclosed to the public, specifically
Sections 1.1, 1.2, 1.3, 3.1, 3.2 and 4.1 (collectively, the “Confidential Information”). The parties further agree that all provisions of this Agreement shall be kept confidential and, without the prior consent of the
other party, shall not be disclosed to any party not a party to this Agreement or the legal advisor of a party to this Agreement, except as required by law or governmental or judicial order and except that disclosure of the existence of this
Agreement shall not be precluded by this Section 6.7. 
 (b)    If any party hereto or any of their
respective affiliates is required by law or governmental or judicial order or receives legal process or a court or agency directive requesting or requiring disclosure of any of the Confidential Information, such party will promptly notify the other
parties prior to disclosure to permit such other parties to seek a protective order or take such other appropriate action to preserve the confidentiality of such Confidential Information. If any party or an affiliate of any party determines to file
this Agreement with the United States Securities and Exchange Commission (the “Commission”) or any other federal, state, provincial or local governmental or regulatory authority, or with any stock exchange or similar body,
such determining party will use its best efforts to obtain confidential treatment of such Confidential Information pursuant to any applicable rule, regulation or procedure of the Commission and any applicable rule, regulation or procedure relating
to confidential filings made with any such other authority or exchange. If the Commission (or any such other authority or exchange) denies such party’s request for confidential treatment of such Confidential Information, such party will use its

  

 16 

 
best efforts to obtain confidential treatment of the portions thereof that the other parties designate. Each party will allow the other parties to
participate in seeking to obtain such confidential treatment for Confidential Information. In the event that the Commission approves the treatment of portions of this Agreement as confidential, Cliffs and Mittal shall collaborate in creating the
version of this Agreement to be filed with the Commission. 
 (c)    None of the parties hereto or their
respective affiliates will issue any press release or otherwise disclose or make any public statement with respect to the transactions contemplated hereby without the prior consent of an officer of the other parties, except to the extent that the
disclosing party determines in good faith that it is so obligated by law, in which case such disclosing party shall give notice to the other parties in advance of such party’s intent to make such disclosure, announcement or issue such press
release, and the parties hereto or their affiliates shall use reasonable efforts to cause a mutually agreeable release or disclosure or announcement to be issued. Notwithstanding the foregoing provisions of this Section 6.7, Mittal acknowledges
that Cliffs will be entitled to include, in any publicly-released, forward-looking sales projections, Cliffs’ projections of sales to Mittal, limited to not more than the next fiscal year. 
 6.8    Construction. The parties hereto have participated jointly in the negotiation and drafting of this Agreement. If any
ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the parties hereto, and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship
of any of the provisions of this Agreement. The word “including” and any variation thereof shall mean “including, without limitation,” or the appropriate version thereof. When reference is made in this Agreement to an Article or
Section, such reference shall be to an Article or Section, as applicable, of this Agreement unless otherwise indicated. The words “hereof,” “herein” or “hereby” and words of similar import when used in this Agreement
shall refer to this Agreement as a whole and not to any particular provision of this Agreement. The word “year” when used herein shall refer to a calendar year, January 1 through December 31. 
 6.9    Entire Agreement. This Agreement and the Pellet Supply Contracts constitute the entire agreement among the parties with
respect to the subject matter hereof and thereof and supersede all prior agreements and understandings among the parties with respect to the subject matter hereof and thereof, including the Letter Agreement, which is hereby terminated as of the
Effective Date. 
 6.10    Amendment; Waiver. This Agreement may not be modified or amended except by an
instrument in writing executed by all of the parties hereto. No waiver of any breach of any of the terms of this Agreement shall be effective unless such waiver is in writing and signed by the party against whom such waiver is claimed. No waiver of
any breach shall be deemed to be a waiver of any other or subsequent breach. 
 6.11    Severability. Any
provision of this Agreement prohibited by any applicable law of any jurisdiction shall as to such jurisdiction be ineffective, without modifying the remaining provisions of this Agreement. Where, however, the conflicting provisions of any such law
may be 

  

 17 

 
waived, they are hereby waived by the parties hereto to the full extent permitted by law. 
 6.12    No Assignment. 
 (a)    Assignment by Mittal. [*********]. 
 (b)    Assignment by Cliffs. [*********]. 
 6.13    Successors and
Assigns. This Agreement shall inure to the benefit of and be binding upon the permitted successors and assigns of the respective parties hereto in all respects as if they were mentioned throughout by words of proper designation. 
 6.14    Counterparts; Facsimile Execution. This Agreement may be (a) executed in one or more counterparts, each of which
shall be deemed an original, but all of which together shall constitute one and the same instrument, and (b) executed and delivered by electronic 

  

 18 

 
facsimile transmission with the same force and effect as if the same were a fully executed and delivered original manual counterpart. 
 [Signature page follows this page.] 
  

 19 

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

  

			
	MITTAL STEEL USA INC.
		
	By:	 	/s/ Michael G. Rippey
	Name:
	 	Michael G. Rippey
	Title:	 	President & CEO
	
	ISG CLEVELAND INC.
		
	By:	 	/s/ Michael G. Rippey
	Name:	 	Michael G. Rippey
	Title:	 	President & CEO
	
	ISG INDIANA HARBOR INC.
		
	By:	 	/s/ Michael G. Rippey
	Name:	 	Michael G. Rippey
	Title:	 	President & CEO
	
	MITTAL STEEL USA—WEIRTON INC.
		
	By:	 	/s/ Michael G. Rippey
	Name:	 	Michael G. Rippey
	Title:	 	President & CEO
	
	CLEVELAND-CLIFFS INC
		
	By:	 	/s/ W. R. Calfee
	Name:	 	William R Calfee
	Title:	 	Executive Vice President—Commercial, North American Iron Ore

  

 20 

			
	THE CLEVELAND-CLIFFS IRON COMPANY
		
	By:	 	/s/ W. R. Calfee
	Name:	 	William R. Calfee
	Title:	 	Executive Vice President—Commercial
	
	CLIFFS MINING COMPANY
		
	By:	 	/s/ W. R. Calfee
	Name:	 	William R. Calfee
	Title:	 	Executive Vice President—Commercial
	
	NORTHSHORE MINING COMPANY
		
	By:	 	/s/ W. R. Calfee
	Name:	 	William R. Calfee
	Title:	 	Executive Vice President—Commercial
	
	CLIFFS SALES COMPANY
		
	By:	 	/s/ W. R. Calfee
	Name:	 	William R. Calfee
	Title:	 	Executive Vice President—Commercial

  

 21 

 Schedule 1.3(d) 
 Examples and Explanations of 2006-2010 Buyout and Deferral Mechanisms 
 For operation of buyout and deferral
mechanisms when Excess Tonnage is nominated, refer to Schedule 1.3(f) 
 Example 1: 
 [*********] 
 Example 2: 
 [*********] 
 Example 3: 
 [*********] 
 Example 4: 
 [*********] 
 Example 5: 
 [*********] 

 Schedule 1.3(f) 
 Examples and Explanations of Excess Tonnage 
 Examples for 2007-2009 Delivery Years 
 Example A1: 
 [*********] 
 Example A2: 
 [*********] 
 Example A3: 
 [*********] 

 Example A4: 
 [*********] 
 Example B2: 
 [*********] 
 Example B3: 
 [*********] 
  

 -ii- 

 For Delivery Year 2010 
 Example C1: 
 [*********] 
 Example C2: 
 [*********] 
 Example C3: 
 [*********] 
  

 -iii- 

 Example C4: 
 [*********] 
 Example C5: 
 [*********] 
  

 -iv-Restated Certificate of Incorporation of Smart Balance, Inc.

 Exhibit 4.1 
 RESTATED 
 CERTIFICATE OF INCORPORATION 
 OF 
 BOULDER SPECIALTY BRANDS, INC.

  

 Boulder Specialty
Brands, Inc., a Delaware corporation (the “Corporation”), does hereby certify that: 
 FIRST: The present name of the
Corporation is “Boulder Specialty Brands, Inc.” The Corporation was originally incorporated by the filing of its original Certificate of Incorporation with the Secretary of State of the State of Delaware on May 31, 2005. 

SECOND: This Restated Certificate of Incorporation (the “Certificate”) amends and restates in its entirety the present
Certificate of Incorporation of the Corporation, and has been approved in accordance with Sections 141, 228, 242 and 245 of the General Corporation Law of the State of Delaware. 
 THIRD: This Certificate shall become effective immediately upon its filing with the Secretary of State of the State of Delaware. 
 FOURTH: Upon the filing of this Certificate with the Secretary of State of the State of Delaware, the Certificate of Incorporation of the
Corporation shall be restated in its entirety to read as set forth on Exhibit A attached hereto. 

 IN WITNESS WHEREOF, the undersigned, being the Chief Executive Officer of the Corporation
hereinabove named, DOES HEREBY CERTIFY, under penalties of perjury, that the facts hereinabove stated are truly set forth and, accordingly, such officer has hereunto set his hand as of May 18, 2007. 
  

	
	BOULDER SPECIALTY BRANDS, INC.
	
	/s/ Stephen B. Hughes
	By: Stephen B. Hughes
	Title: Chief Executive Officer

 Exhibit A 
 ARTICLE I. 
 The name of the Corporation (hereinafter, the “Corporation”) is Smart
Balance, Inc. 
 ARTICLE II. 
 The address of the Corporation’s registered office in the State of Delaware is Capitol Services, Inc., 615 South DuPont Highway, Dover, Kent County, Delaware. The name of the Corporation’s registered agent at such address is
Capitol Services, Inc. 
 ARTICLE III. 
 The purpose of the Corporation is to engage in any lawful act or activity for which corporations may be organized under the General Corporation Law of the State of Delaware (the “DGCL”). 

ARTICLE IV. 
 1. Authorized
Shares. The aggregate number of shares which the Corporation shall have authority to issue is 300,000,000, of which (i) 50,000,000 shares of the par value of $0.0001 shall be designated as Preferred Stock (the “Preferred
Stock”), and (ii) 250,000,000 shares of the par value of $0.0001 shall be designated as Common Stock (the “Common Stock”) 
 2. Common Stock. Each share of Common Stock shall be identical in all respects and for all purposes and entitled to: one vote in all proceedings in which action may or is required to be taken by stockholders of
the Corporation; participate equally in all dividends payable with respect to the Common Stock, as, if and when declared by the Board of Directors of the Corporation (the “Board”) subject to any preference in favor of any class or
series of Preferred Stock; and share ratably in all distributions of assets of the Corporation in the event of any voluntary or involuntary liquidation, or winding up of the affairs of the Corporation, subject to any rights and preferences in favor
of any class or series of Preferred Stock. 
 3. Assessment of Stock. The capital stock of the Corporation, after the amount of
the subscription price has been fully paid in, shall not be assessable for any purpose, and no stock issued as fully paid shall ever be assessable or assessed. No stockholder of the Corporation is individually liable for the debts or liabilities of
the Corporation. 

 4. Preferred Stock. 
 (a) Of the 50,000,000 authorized shares of Preferred Stock, 15,388,889 shares shall be designated “Series A Convertible Preferred
Stock” (the “Series A Preferred Shares”). 
 (b) With respect to the 34,611,111 shares of undesignated
Preferred Stock as of the date hereof (the “Blank Check Preferred Shares”), the Board shall have authority to the fullest extent permitted under the DGCL, but subject to all contractual restrictions to which it is bound (including
Section 5 and Section 8(b) hereof), to adopt by resolution from time to time one or more Certificates of Designation providing for the designation of one or more series of Preferred Stock, and such designations, limitations,
voting rights (if any) and restrictions thereof, and to fix or alter the number of shares comprising any such series, subject to any requirements of the DGCL, all contractual restrictions by which the Corporation is bound and this Restated
Certificate of Incorporation, as amended from time to time. 
 The authority of the Board with respect to each such series shall include,
without limitation of the foregoing, the right to determine and fix the following preferences and powers, which may vary as between different series of Preferred Stock: 
 (i) the distinctive designation of such series and the number of shares to constitute such series; 
 (ii) the rate at which any dividends on the shares of such series shall be declared and paid, or set aside for payment, whether dividends
at the rate so determined shall be cumulative or accruing, and whether the shares of such series shall be entitled to any participating or other dividends in addition to dividends at the rate so determined, and if so, on what terms; 
 (iii) the right or obligation, if any, of the Corporation to redeem shares of the particular series of Preferred Stock and, if redeemable,
the price, terms and manner of such redemption; 
 (iv) the special and relative rights and preferences, if any, and the
amount or amounts per share, which the shares of such series of Preferred Stock shall be entitled to receive upon any voluntary or involuntary liquidation, dissolution or winding up of the Corporation; 
 (v) the terms and conditions, if any, upon which shares of such series shall be convertible into, or exchangeable for, shares of capital
stock of any other series, including the price or prices or the rate or rates of conversion or exchange and the terms of adjustment, if any; 
 (vi) the obligation, if any, of the Corporation to retire, redeem or purchase shares of such series pursuant to a sinking fund or fund of a similar nature or otherwise, and the terms and conditions of such obligation;

 (vii) voting rights, if any, including special voting rights with respect to the election of directors and matters
adversely affecting any series of Preferred Stock; and 
  

 -2- 

 (viii) limitations, if any, on the issuance of additional shares of such series or any
shares of any other series of Preferred Stock. 
 5. Dividends. 
 (a) From and after the date of filing of this Restated Certificate of Incorporation, Series A Preferred Shares, in preference to any other
class or series (“Junior Stock”) of the Corporation’s Equity Securities (as defined below), shall be entitled to receive quarterly dividends accruing from and after the date of issuance thereof on each
March 31, June 30, September 30 and December 31 (each a “Quarterly Date,” and each such quarterly period, or portion thereof, a “Dividend Payment Period”) at the rate of eight percent
(8.0%) per annum (the “Dividend Rate”) of the Series A Purchase Price (as hereinafter defined), when, as, and if declared by the Board; provided, however, that on the date that is five (5) years after the
date of the issuance of Series A Preferred Shares (the date of issuance being hereinafter referred to as the “Issue Date”) pursuant to the Securities Purchase Agreement dated September 25, 2006, by and among the Corporation and
the purchasers of the Series A Preferred Shares (as may be modified, supplemented or amended from time to time, the “Share Purchase Agreement”), and on each Quarterly Date thereafter, the Dividend Rate shall increase by 0.25% until
such time as the Dividend Rate shall equal eleven percent (11.00%) per annum; provided further, however, that from and after the date that is seven (7) years after the Issue Date, the Dividend Rate shall increase to fifteen
percent (15%) per annum with respect to each Dividend Payment Period ending after such date (including the Dividend Payment Period during which such date shall occur) for which the Corporation has failed to declare and pay dividends on the
Series A Preferred Shares in full in cash. If the Corporation has failed to declare dividends on the Series A Preferred Shares and pay such dividends in cash for three (3) consecutive Dividend Payment Periods after the date that is seven
(7) years after the Issue Date (including the Dividend Payment Period during which such date shall occur), the Dividend Rate shall be fixed thereafter at fifteen percent (15%) per annum regardless of whether the dividends are subsequently
declared or paid in full in cash. To the extent not paid in cash, all such dividends shall be cumulative and shall compound on each Quarterly Date on each outstanding Series A Preferred Share whether or not such dividends are earned or declared and
whether or not sufficient funds are legally available therefor (as adjusted for any stock dividends, combinations, splits, recapitalizations and related transactions with respect to such shares). 
 So long as any Series A Preferred Shares shall be outstanding, no dividend, whether in cash or property, shall be paid or declared, nor shall any other distribution be
made, on any Junior Stock, nor shall any shares of any Junior Stock of the Corporation be purchased, redeemed, or otherwise acquired by the Corporation or any subsidiary or affiliate thereof (except for (i) redemption of the warrants
outstanding pursuant to the Warrant Agreement (the “Public Warrant Agreement”) dated on or about December 16, 2005, by and among the Corporation and Continental Stock Transfer & Trust Company pursuant to
Section 6.1 thereof, or redemption of the warrants outstanding pursuant to the Founding Director Warrant Purchase Agreement (the “Founder Warrant Agreement”) dated on or about December 16, 2005 by and among the
Corporation and Stephen B. Hughes, James E. Lewis, Robert J. Gillespie, William E. Hooper, Robert F. McCarthy and Michael R. O’Brien pursuant to Section 1.C. thereof, (ii) redemption of Common Stock, warrants or other Equity
Securities, as set forth in Section 4.14 of the Share Purchase Agreement, (iii) acquisitions of Common Stock by the Corporation pursuant to agreements 

  

 -3- 

 
which permit the Corporation to repurchase such shares upon termination of services to the Corporation at a price per share determined in accordance with
such agreements or upon the exercise of the Corporation’s right of first offer, if any, upon a proposed transfer, and (iv) redemption of shares of Common Stock issued in the Corporation’s initial public offering solely as, and to
the extent, set forth in Article XII of the Company’s Certificate of Incorporation in effect immediately prior to the filing of this Restated Certificate of Incorporation) until all accrued dividends on the Series A Preferred Shares
shall have been paid in cash. If any dividend or distribution of any asset is declared and paid on any share of Junior Stock, the holders of Series A Preferred Shares shall be entitled to share in such dividends or distributions pro rata in
accordance with the number of shares of Common Stock into which such Series A Preferred Shares are then convertible pursuant to Section 9 hereof without taking into account any restrictions on conversion set forth in
Section 9(l). 
 6. Liquidation. 
 (a) Upon a Liquidation (as defined below), subject to the payment or provision for payment of the debts and other liabilities of the
Corporation, each Series A Preferred Share shall be entitled to receive, out of the remaining assets of the Corporation available for distribution to its stockholders, an amount (the “Preference Amount”) equal to the sum of
(A) $9.00 (the “Series A Purchase Price”) and (B) all accrued and unpaid dividends (subject to equitable adjustment as a result of any stock dividend, stock split, combination, reverse split, reclassification or similar
event after the Issue Date) before any distribution shall be made to the holders of the Common Stock, or any other class or series of Junior Stock; provided, however, that in the event a Liquidation occurs on any date that is prior to
five (5) years after the Issue Date, the Preference Amount shall be calculated (including the calculation of accrued and unpaid dividends) assuming the consummation of such Liquidation had occurred on the last date of the Dividend Payment
Period to occur on, or immediately after, the date that is five (5) years after the Issue Date. If upon any Liquidation the assets of the Corporation available for distribution to its stockholders shall be insufficient to pay the holders of
Series A Preferred Shares the full Preference Amount to which they shall be entitled, the holders of Series A Preferred Shares shall share pro rata in any distribution of assets in accordance with their respective Preference Amounts.

 (b) Upon any Liquidation, after payment in full of all Preference Amounts, the holders of Common Stock shall be entitled to
share pro rata in the distribution of the remaining assets of the Corporation. 
 (c) Notwithstanding the
foregoing, upon any Liquidation, the holders of the Series A Preferred Shares shall be entitled to receive the greater of (i) the amount such holders would have received under Section 6(a) above and (ii) the amount such holders
would have received if such holders had converted his, her or its Series A Preferred Shares into shares of Common Stock immediately prior to such Liquidation in accordance with Section 9 without taking into account any restrictions on
conversion set forth in Section 9(l) and assuming a Preference Amount for such Series A Preferred Shares as set forth in Section 6(a). 
  

 -4- 

 (d) “Liquidation” means (i) any voluntary or involuntary
liquidation, dissolution or winding up of the Corporation, other than any dissolution, liquidation or winding up in connection with any reincorporation of the Corporation in another jurisdiction, or (ii) any Sale of the Corporation.
“Sale of the Corporation” means (i) the sale of all or substantially all of the Corporation’s assets, (ii) the sale or transfer of the outstanding shares of capital stock of the Corporation in one or more transactions
to a purchaser and Affiliates of such purchaser and/or a “Group” (within the meaning of Section 13(d)(3) of the Securities and Exchange Act of 1934, as amended (the “Exchange Act”) or Rule 13d-5 thereunder) of
purchasers and their Affiliates and other parties acting in concert to purchase such shares (collectively, the “Purchasers”), (iii) the merger or consolidation of the Corporation with another person or entity, in each case in
clauses (ii) and (iii) above under circumstances in which the holders of the voting power of outstanding capital stock of the Corporation, immediately prior to such transaction (other than the Purchasers), own less than fifty percent
(50%) in voting power of the outstanding capital stock of the Corporation or the surviving or resulting corporation or acquirer, as the case may be, immediately following such transaction, or (iv) any other transaction or series of
transactions pursuant to, or as a result of, which a single person (or Purchasers) acquires (from the Corporation or directly from the stockholders of the Corporation) capital stock of the Corporation representing a majority of the
Corporation’s outstanding voting power. A sale (or multiple related sales) of one or more subsidiaries of the Corporation (whether by way or merger, consolidation, reorganization or sale of all or substantially all assets or securities) which
constitutes all or substantially all of the consolidated assets of the Corporation shall be deemed a Sale of the Corporation. 
 (e) In the event of a Liquidation involving the sale of shares by stockholders of the Corporation or merger, consolidation or similar stock transaction, the “remaining assets of the Corporation available for distribution” shall be
deemed to be the aggregate consideration to be paid to all stockholders participating in such Liquidation. In connection with such a Liquidation, the Corporation shall either (i) cause the definitive transaction document(s) to provide as a
condition precedent to the consummation of such Liquidation for the conversion of the Series A Preferred Shares into the right to receive an amount in cash equal to the applicable amount payable with respect to such Series A Preferred Shares under
this Section 6 (subject to the priorities and limitations set forth herein); or (ii) concurrently with the consummation of such Liquidation, cause the redemption of all outstanding Series A Preferred Shares for an amount in cash
equal to the applicable amount payable with respect to such Series A Preferred Shares under this Section 6 (subject to the priorities and limitations set forth herein). 
 (f) If any or all of the proceeds payable to the stockholders of the Corporation in connection with a Liquidation are in a form other than
cash or marketable securities, the fair market value of such consideration shall be determined in good faith by the Board (provided that any dispute as to such fair market value shall be resolved in accordance with the procedures set forth for the
determination of Fair Market Value in Section 9(k)). 
 7. Redemption. 
 (a) At any time after the date of filing of this Restated Certificate of Incorporation, the Corporation may demand that all of the Series
A Preferred Shares then outstanding be redeemed or that a portion of the Series A Preferred Shares be redeemed, which portion may in no event be less than twenty percent (20%) of the total Series A Preferred Shares 

  

 -5- 

 
then outstanding (i) out of funds legally available for that purpose, and (ii) only so long as, and to the extent permitted pursuant to the terms
of the First Lien Credit Agreement (the “First Lien Credit Agreement”), to be dated on or about May 18, 2007, between BSB Acquisition Co., Inc., the Corporation, the Lenders (as defined in the First Lien Credit Agreement) party
thereto, Bank of America, N.A., as Administrative Agent, and Banc of America Securities LLC as Sole Lead Arranger and Sole Book Manager and the Second Lien Credit Agreement (the “Second Lien Credit Agreement”), to be dated on or
about May 18, 2007 between BSB Acquisition Co., Inc., the Corporation, the Lenders (as defined in the Second Lien Credit Agreement) party thereto, Bank of America, N.A. as Administrative Agent, and Banc of America Securities LLC as Sole Lead
Arranger and Sole Book Manager and any and all notes, and other agreements or documents entered into connection therewith representing Indebtedness (as hereinafter defined) of the Corporation, as may be amended or supplemented from time to time (the
First Lien Credit Agreement, the Second Lien Credit Agreement and all such notes and other agreements and documents, collectively, the “Senior Credit Facility”) for a cash amount per Series A Preferred Share redeemed on each
applicable Redemption Date (the “Redemption Amount”) equal to the Preference Amount of each such applicable Series A Preferred Share; provided, however, that in the event a Redemption Notice is sent by the Corporation
with respect to any Redemption Date on any date that is prior to five (5) years after the Issue Date, the Preference Amount with respect to each applicable Series A Preferred Share redeemed shall be calculated (including the calculation of
accrued and unpaid dividends) assuming the Redemption Date had occurred on the last date of the Dividend Payment Period to occur on, or immediately after, the date that is five (5) years after the Issue Date. Such right may be exercised by
delivery by the Corporation of a notice (a “Redemption Notice”) to each holder of Series A Preferred Shares. Subject to Section 4.14 of the Share Purchase Agreement, and Section 7(c) and
Section 7(d) hereof, the Corporation shall redeem such applicable Series A Preferred Shares on a date (each a “Redemption Date”) that is not more than thirty (30) calendar days after the date of delivery of an
applicable Redemption Notice. If upon any Redemption Date the Corporation has elected to redeem Series A Preferred Shares that are less than all of the then outstanding Series A Preferred Shares, then the Corporation shall redeem such Series A
Preferred Shares pro rata from each holder of Series A Preferred Shares based upon the total Series A Preferred Shares then outstanding and held by each holder of Series A Preferred Shares. 
 (b) At any time on or after a Redemption Date, each holder of record of Series A Preferred Shares to be redeemed on such date shall be
entitled to receive his, her or its Redemption Amount upon actual delivery to the Corporation or its agents of the certificate or certificates representing the shares to be redeemed. On a Redemption Date, except as set forth in
Section 7(e), all rights in respect of such Series A Preferred Shares to be redeemed, except the right to receive the Redemption Amount, shall cease and terminate (unless default shall be made by the Corporation in the payment of the
Redemption Amount, in which event such rights shall be exercisable until such default is cured), and such shares shall no longer be deemed to be outstanding, whether or not the certificate or certificates representing such shares have been received
by the Corporation. 
 (c) Notwithstanding anything in this Section 7 to the contrary, in the event the
Corporation provides a Redemption Notice and such redemption (whether directly or as a result of the effect of such redemption on the exercisability of the warrants issued pursuant to the Share Purchase Agreement) (i) would result in a holder
of Series A Preferred Shares being 

  

 -6- 

 
deemed to have made a “sale” of equity securities pursuant to Section 16(b) of the Exchange Act that would be matched with a
“purchase” made by such holder within six (6) months prior to the date of the Redemption Notice or consummation of such redemption or (ii) is made at a time when such holder of Series A Preferred Shares is subject to the
“short-swing” trading restrictions of Section 16 of the Exchange Act and the rules and regulations promulgated thereunder, then such holder of Series A Preferred Shares shall not be required, in such holder’s sole discretion, to
have all or any portion of Series A Preferred Shares redeemed in accordance with this provision until such time as the redemption would not be “matched” with such a “purchase” or no longer result (directly or indirectly) in
“short swing” disgorgement or other penalty pursuant to Section 16 of the Exchange Act, as applicable. 
 (d)
Notwithstanding anything in this Section 7 to the contrary, in the event the Corporation provides a Redemption Notice and such redemption would result in a holder of Series A Preferred Shares being required to make filings as required by
the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the “HSR Act”) and/or any other Law concerning competition matters, then such holder of Series A Preferred Shares shall not be required, in such holder’s
sole discretion, to have all or any portion of Series A Preferred Shares redeemed in accordance with this provision until such time as a waiver or clearance is obtained under the HSR Act and/or any other Law concerning competition matters by the
applicable governmental authorities. 
 (e) Upon the occurrence of the events contemplated by Section 7(c),
Section 7(d), and/or Section 4.14 of the Share Purchase Agreement the Series A Preferred Shares that have not been redeemed (the “Delayed Redemption Shares”), shall continue to be deemed to be outstanding and
to maintain all rights applicable to such Series A Preferred Shares until validly redeemed hereunder, except, in the case of Section 7(c) only, with respect to the accrual of dividends solely with respect to such Delayed Redemption
Shares (and not with respect to other Series A Preferred Shares held by such Holder), and the Redemption Date shall not be deemed to have occurred with respect to such Delayed Redemption Shares until actually redeemed pursuant to this
Section 7. 
 8. Voting Rights. 
 (a) General. In addition to the rights provided by law, the holders of the Series A Preferred Shares shall be entitled to vote on
all matters as to which holders of Common Stock shall be entitled to vote, in the same manner and with the same effect as such holders of Common Stock, voting together with the holders of Common Stock as one class (including, without limitation, for
purposes of the third sentence of Section 242(b)(2) of the DGCL). Each Series A Preferred Share shall entitle the holder thereof to such number of votes as shall equal the number of shares of Common Stock into which such Series A Preferred
Share is then convertible pursuant to Section 9 without taking into account any restrictions on conversion set forth in Section 9(l). The affirmative vote of the holders of a majority of the Series A Preferred Shares and
Common Stock, voting together as one class, shall be sufficient to increase or decrease the number of authorized shares of Common Stock (but not below the number of shares at the time outstanding). 
  

 -7- 

 (b) Covenants. So long as the number of Series A Preferred Shares outstanding equals or
exceeds twelve and one-half percent (12.5%) of the total number of Series A Preferred Shares issued on the Issue Date, the Corporation and all of its current or future subsidiaries shall not, without the affirmative consent or approval of a
majority of the Series A Preferred Shares then outstanding (the “Requisite Holders”): 
 (i) issue, create,
incur, assume or suffer to exist any Indebtedness, other than, without duplication, (A) (i) Indebtedness that is outstanding on the Issue Date pursuant to the Senior Credit Facility as in effect as of the Issue Date, (ii) up to $30.0
million of additional Indebtedness that is permitted to be incurred after the Issue Date to the lenders under the Senior Credit Facility pursuant to any provision of the Senior Credit Facility as in effect as of the Issue Date, or
(iii) Indebtedness that is available to be borrowed under the revolving credit facility portion of the Senior Credit Facility pursuant to any provision of the Senior Credit Facility as in effect as of the Issue Date, (B) without
duplication of clause (A), Indebtedness that is permitted pursuant to any provision of the Senior Credit Facility as in effect on the Issue Date and, in the case of each of clauses (A) and (B), as such Indebtedness (and or the
agreements governing such Indebtedness) are amended, modified or supplemented after the date hereof excluding amendments, modifications or supplements that permit the incurrence of Indebtedness (i) with respect to the Indebtedness as set forth
in clause (A), in excess of (x) the amount of Indebtedness permitted pursuant to clause (A) minus (y) any permanent repayments, permanent prepayments or permanent commitment reductions made after the Issue Date and
(ii) with respect to the Indebtedness as set forth in clause (B), in excess of the amount of Indebtedness permitted pursuant to clause (B), (C) Indebtedness to be incurred so as to consummate the redemption of the Series A
Preferred Shares on the Redemption Date provided such redemption is for all of the Series A Preferred Shares then outstanding, and (D) refinancings permitted by clause (ii) below; 
 (ii) refinance any Indebtedness, in whole or in part, other than Indebtedness set forth in clause (i), (x) that is then funded
and outstanding and solely to the extent of the principal and accrued and unpaid interest on such Indebtedness and (y) Indebtedness which constitutes undrawn commitments under the revolving credit facility portion of the Senior Credit Facility
and, in each case, the fees, expenses and premiums owing on such Indebtedness as reflected in the Senior Credit Facility in effect on the Issue Date which such Indebtedness may be refinanced in whole or in part; provided, however, that
undrawn commitments under any revolving credit facility may not be refinanced with funded Indebtedness; 
 (iii) create,
incur, assume or suffer to exist any Lien of any kind, other than Permitted Liens, on or with respect to any of its assets or properties of any character (including, without limitation, accounts) whether now owned or hereafter acquired; 

 

 -8- 

 (iv) make any amendments, modifications or supplements to documentation and instruments
with respect to Indebtedness (excluding the Senior Credit Facility and any collateral or ancillary documents entered into in connection therewith); 
 (v) (A) issue or authorize any options or restricted stock (other than options,
restricted stock or other convertible securities (not to exceed 9,650,000 options, restricted stock or convertible securities (no more than 4,825,000 of which may be issued to Persons who are employees, directors or consultants of the Corporation as
of the Issue Date during the first three (3) years after the Issue Date and no more than 2,412,500 of which may be issued to Persons who are employees, directors or consultants of the Corporation as of the Issue Date during the fourth
(4th) and fifth (5th) years after the Issue Date), as adjusted for any stock dividends, combinations, splits, recapitalizations, and related transactions with respect to shares of Common Stock) to be issued pursuant
to a Board-approved option or incentive plan), (B) issue or authorize (by amendment of the certificate of incorporation, by merger or otherwise) any Equity Securities (other than Junior Stock, other than shares of Common Stock that may be
issued pursuant to Section 2.13 of the SB Merger Agreement (as defined in the Share Purchase Agreement), and other than shares of Common Stock that may be issued pursuant to Section 4.13 of the Share Purchase Agreement or
pursuant to Section 2(b) of the Registration Rights Agreement (as hereinafter defined)), (C) issue or authorize (by amendment of the certificate of incorporation, by merger or otherwise) any Equity Securities pursuant to
Section 4(b), (D) redeem, repurchase or acquire any Equity Securities (other than the redemption, repurchase, or distributions in respect of (i) the Series A Preferred Shares as set forth herein, (ii) securities pursuant
to Section 4.14 of the Share Purchase Agreement, (iii) warrants issued pursuant to the Public Warrant Agreement only pursuant to Section 6.1 thereof, (iv) warrants issued pursuant to the Founder Warrant Agreement
only pursuant to Section 1.C. thereof, (v) shares of Common Stock issued in the Corporation’s initial public offering solely as, and to the extent, set forth in Article XII of the Company’s Certificate of
Incorporation in effect immediately prior to the filing of this Restated Certificate of Incorporation, and other than repurchases of any Equity Securities of the Corporation held by employees of the Corporation not to exceed $500,000 in any fiscal
year), or reclassify any Equity Securities into shares or any class or series of capital stock pari passu or senior to the Series A Preferred Shares (by amendment of the certificate of incorporation by merger or otherwise); (E) modify the
exercise price of any outstanding options or warrants outstanding on the date hereof, except in accordance with the terms thereof; (F) modify the terms of any warrants outstanding on the date hereof (other than in accordance with the terms of
the Public Warrant Agreement or the Founding Warrant Agreement); or (G) amend, modify or supplement the Public Warrant Agreement or the Founder Warrant Agreement (other than in accordance with the terms of the Public Warrant Agreement or the
Founding Warrant Agreement); 
  

 -9- 

 (vi) enter into, amend or terminate the material terms (including as to any compensation
to be paid) of, any contract or agreement (written or oral) (other than the Senior Credit Facility and any collateral or ancillary documents entered into in connection therewith) or enter into any transaction with any officer, director, stockholder,
or any other Affiliate of the Corporation or any subsidiary of the Corporation (each a “Related Person”), in each case other than (A) contracts or agreements entered into with such Related Person on terms not less favorable to
the Corporation than would be obtained in an arms-length transaction with a Person that is not a Related Person, (B) transactions among the Corporation and any of its subsidiaries entered into in the ordinary course of business and
(C) reasonable compensation to be paid to employees in the ordinary course of business; 
 (vii) take any action that
could result in a Liquidation other than any reorganization, liquidation, dissolution or winding up of the Corporation under Chapter 11 of the U.S. Bankruptcy Code; 
 (viii) effect any acquisition by the Corporation of any business (whether by purchase of stock or assets) or make any investment for
consideration in excess of (A) an amount per transaction or series of related transactions that is equal to or greater than 110% of the corresponding amount permitted pursuant to the least restrictive provision of the Senior Credit Facility as
in effect as of the Issue Date with respect to restrictions on acquisitions and/or investments or (B) an aggregate amount equal to or greater than 110% of the corresponding amount permitted pursuant to the least restrictive provision of the
Senior Credit Facility as in effect as of the Issue Date with respect to restrictions on acquisitions and/or investments; 
 (ix) effect any sales or other dispositions of assets in excess of (A) an amount per transaction or series of related transactions equal to or greater than 110% of the corresponding amount permitted pursuant to the least restrictive
provision of the Senior Credit Facility as in effect as of the Issue Date with respect to restrictions on sales and/or other dispositions of assets or (B) an aggregate amount equal to or greater than 110% of the corresponding amount permitted
pursuant to the least restrictive provision of the Senior Credit Facility as in effect as of the Issue Date with respect to restrictions on sales and/or other dispositions of assets; in each case, other than sales of inventory and other assets in
the ordinary course of business; 
 (x) effect any changes in the certificate of incorporation of the Corporation (whether by
merger or otherwise) in a manner that adversely affects the rights, preferences or powers of the Series A Preferred Shares; 
 (xi) except for actions expressly permitted under this Section 8(b), agree to any action which impairs the Corporation’s ability to honor the rights and preferences of the Series A Preferred Shares; 
  

 -10- 

 (xii) make any changes in accounting methods or policies (other than as required by U.S.
generally accepted accounting principles), or any change in the Corporation’s auditors; 
 (xiii) declare or pay any
dividends on any Equity Securities of the Corporation other than payments of cash dividends on the Series A Preferred Shares unless said dividends are also made to the holders of the Series A Preferred Shares on an as converted basis; or 

(xiv) agree to take any of the foregoing actions. 
 So long as the number of Series A Preferred Shares outstanding equals or exceeds twelve and one-half percent (12.5%) of the total number of Series A Preferred Shares issued on the Issue Date, at any time that the
Corporation has any subsidiary, it shall not permit such subsidiary to take any of the foregoing actions set forth in this Section 8(b) (with all references to the Corporation deemed to be references to such subsidiary) without the
affirmative consent or approval of the Requisite Holders. 
 For purposes hereof: 
 “Affiliate” means, with respect to any Person, any (a) director, officer, limited or general partner, member or stockholder holding
ten-percent (10)% or more of the outstanding capital stock or other equity interests of such Person, (b) spouse, parent, sibling or descendant of such Person (or a spouse, parent, sibling or descendant of a Person specified in clause
(i) above relating to such Person) and (c) other Person that, directly or indirectly, through one or more intermediaries, controls, or is controlled by, or is under common control with, such Person. The term “control” includes,
without limitation, the possession, directly or indirectly, of the power to direct the management and policies of a Person, whether through the ownership of voting securities, by contract or otherwise. 
 “Guarantee” means any obligation, contingent or otherwise, or any Person guaranteeing or having the economic effect of guaranteeing any
Indebtedness or other obligation of any other Person in any manner, whether directly or indirectly, including any obligation of such Person directly or indirectly, (i) to purchase or pay (or advance or supply funds for the purchase or payment
of) such Indebtedness or other obligation or to purchase (or to advance or supply funds for the purchase of) any security for the payment of such Indebtedness or other obligation, (ii) to purchase property, securities or services for the
purpose of assuring the owner of such Indebtedness or other obligation of payment thereof, (iii) to purchase or otherwise pay for merchandise, materials supplies, services or other property under an arrangement which provides that payment for
such merchandise, materials, supplies, services or other property shall be made regardless of whether delivery of such merchandise, materials, supplies, services or other property is ever made or tendered, or (iv) to maintain the working
capital, equity capital or other financial statement condition of any primary obligor; provided, however, that the term Guarantee shall not include endorsement of instruments for deposit and collection in the ordinary course of
business. 
  

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 “Indebtedness” of a Person means, without duplication, (i) all obligations of such
Person for borrowed money, (ii) all obligations of such Person evidenced by (or which customarily would be evidenced by) bonds, debentures, notes or similar instruments, (iii) all reimbursement obligations of such Person with respect to
letters of credit and similar instruments, (iv) all obligations of such Person under conditional sale or other title retention agreements relating to property or assets purchased by such Person, (v) all obligations of such Person incurred,
issued or assumed as the deferred purchase price of property or services other than accounts payable incurred and paid on terms customary in the business of such Person (it being understood that “deferred purchase price” in connection with
any purchase of property or assets shall include only that portion of the purchase price which shall be deferred beyond the date on which the purchase is actually consummated), (vi) all obligations secured by (or for which the holder of such
Indebtedness has an existing right, contingent or otherwise, to be secured by) any Lien on property owned or acquired by such Person, whether or not the obligations secured thereby have been assumed, (vii) all obligations of such Person under
forward sales, futures, options and other similar hedging arrangements (including interest rate hedging or protection agreements), (viii) all Guarantees by such Person of obligations of others, (ix) all capitalized lease obligations of
such Person and (x) the Indebtedness of any partnership or joint venture in which such Person is a general partner or a joint venturer, but only to the extent to which there is recourse to such Person for payment of such Indebtedness.

 “Lien” means any security interest, pledge, lien, claim, proxy, bailment (in the nature of a pledge or for purposes of
security), mortgage, deed of trust, the grant of a power to confess judgment, conditional sale or title retention agreement (including any lease in the nature thereof), charge, encumbrance, easement, reservation, restriction, cloud, right of first
refusal or first offer, option, commitment or other similar arrangement or interest in real or personal property, whether oral or written. 
 “Permitted Liens” means Liens that are permitted pursuant to the Senior Credit Facility as in effect on the Issue Date or as amended, modified or supplemented or refinanced after the date hereof excluding amendments,
modifications or supplements (pursuant to a refinancing or otherwise) which change the covenants or agreements concerning the incurrence or maintenance of Liens to provide that such covenants or agreements shall be less restrictive with respect to
the Corporation and its subsidiaries than the covenants and agreements included in the Senior Credit Facility in effect on the Issue Date. 
 “Person” shall be construed in the broadest sense and means and includes a partnership, a corporation, an association, a joint stock company, a limited liability company, a trust, a joint venture, an unincorporated
organization and any other entity. 
 9. Optional Conversion. 
 (a) Upon the terms set forth in this Section 9, each holder of Series A Preferred Shares shall have the right, at such
holder’s option, at any time and from time to time, to convert any such shares into the number of fully paid and nonassessable shares of Common Stock equal to the quotient obtained by dividing (i) the product of the Preference Amount and
the number of Series A Preferred Shares being converted, by (ii) the Conversion Price (as defined below), as last adjusted and then in effect, by surrender of the certificates representing the Series 

  

 -12- 

 
A Preferred Shares to be converted. The initial conversion price per share at which shares of Common Stock shall be issuable upon conversion of Series A
Preferred Shares (as adjusted from time to time, the “Conversion Price”) shall be the Series A Purchase Price. The Conversion Price shall be subject to adjustment from time to time in accordance with Section 9 below.

 (b) Any holder of Series A Preferred Shares may exercise the conversion right pursuant to paragraph (a) above by
delivering to the Corporation the certificate or certificates for the shares to be converted, duly endorsed or assigned in blank or to the Corporation (if required by it), accompanied by written notice stating that the holder elects to convert such
shares and stating the name or names (with address) in which the certificate or certificates for the shares of Common Stock are to be issued. Conversion shall be deemed to have been effected on the date when such delivery is made (the
“Conversion Date”). As promptly as practicable thereafter, but in no event later than three (3) Trading Days, the Corporation shall issue and deliver to or upon the written order of such holder, to the place designated by such
holder, a certificate or certificates for the number of full shares of Common Stock to which such holder is entitled, and a cash amount in respect of any fractional interest in a share of Common Stock as provided in paragraph (c) below.
The person in whose name the certificate or certificates for Common Stock are to be issued shall be deemed to have become a stockholder of record on the applicable Conversion Date unless the transfer books of the Corporation are closed on that date,
in which event such person shall be deemed to have become a stockholder of record on the next succeeding date on which the transfer books are open, but the Conversion Price shall be that in effect on the Conversion Date. Upon conversion of only a
portion of the number of shares covered by a certificate representing shares of the Series A Preferred Shares surrendered for conversion, the Corporation shall issue and deliver to or upon the written order of the holder of the certificate so
surrendered for conversion, at the expense of the Corporation, a new certificate covering the number of shares of such Series A Preferred Shares representing the unconverted portion of the certificate so surrendered. “Trading Day”
means a day on which the Common Stock is trading on a Trading Market. “Trading Market” means the following markets or exchanges on which the Common Stock is listed or quoted for trading on the date in question: the Nasdaq Capital
Market, the American Stock Exchange, the New York Stock Exchange, the Nasdaq Global Market or the OTC Bulletin Board. 
 (c)
Upon conversion, the Corporation (unless otherwise requested by the holder of the Series A Preferred Shares subject to conversion) will issue fractional shares of its Common Stock, and shall not distribute cash in lieu of such fractional shares. If
requested by the holder of the Series A Preferred Shares, in lieu of any fractional shares of Common Stock which would otherwise be issuable upon the conversion of Series A Preferred Shares, the Corporation shall pay to the holder of the Series A
Preferred Shares being so converted a cash adjustment in respect of such fractional interest in an amount equal to the then Fair Market Value (as hereinafter defined), of a share of Common Stock multiplied by such fractional interest. 
 (d) The initial Conversion Price for the Series A Preferred Shares was established based upon the Corporation’s representation and
warranty in the Share Purchase Agreement, that the Series A Preferred Shares (on an as converted basis without taking into account any restrictions on conversion set forth in Section 9(l)) represented no less than 22.2508% of the
Corporation’s fully diluted capital stock as of the date of the Share Purchase Agreement and including as outstanding securities, shares of Common Stock authorized or 

  

 -13- 

 
reserved under the Corporation’s warrants (excluding the warrants issued to purchasers of the Series A Preferred Shares on the Issue Date), 9,650,000
shares of Common Stock authorized or reserved for issuance upon the exercise of options, convertible securities or grants of restricted stock to be issued pursuant to an option or incentive plan approved by the Board, and treating all outstanding
securities of the Corporation that are convertible into or exercisable or exchangeable for, shares of Common Stock, as the maximum number of shares of Common Stock issuable with respect to such securities at any time on or after the Issue Date, and
excluding from this calculation shares that may be issued pursuant to Section 2.13 of the SB Merger Agreement (as defined in the Share Purchase Agreement). If such representation and warranty is determined after the date hereof to be
untrue or incorrect, the Conversion Price then in effect shall be reduced (but not increased) by an amount such that the shares of Common Stock issuable upon the conversion of the Series A Preferred Shares issued on the Issue Date was equal to
22.2508% of the Corporation’s capital stock as of the Issue Date (calculated as described in the immediately preceding sentence). 
 (e) In the event (each of the events set forth in (i) and (ii) a “Default”) (i) (x) the Corporation has not filed to list its Common Stock on Nasdaq’s Global Market or Capital
Market or the American Stock Exchange by the date that is fourteen (14) calendar days after the Issue Date or has not so listed its Common Stock by the date that is ninety (90) calendar days after the Issue Date (as required pursuant to
Section 4.13 of the Share Purchase Agreement) and/or (y) the Corporation has not qualified and listed the Series A Preferred Shares for trading in The Portal Market of The Nasdaq Stock Market, Inc., to the extent the Series A
Preferred Shares are eligible for such qualification and listing, as of the Issue Date (as required pursuant to Section 4.13 of the Share Purchase Agreement); or (ii) of the occurrence of an Event (as defined in the Registration
Rights Agreement dated on or about the Issue Date by and among the Corporation and the parties named therein (as may be modified, supplemented or amended from time to time, the “Registration Rights Agreement”)), then in addition to
any other rights or remedies, on each ninety (90) day anniversary of the date of the occurrence of the Default (if the applicable Default shall not have been cured by such date) until the applicable Default is cured, the Conversion Price shall
be reduced by one percent (1%) of the Conversion Price as in effect as of the time of Default up to a maximum total reduction of nine percent (9%) in the aggregate. Notwithstanding anything in this Section 9(e) to the contrary,
the reduction in the Conversion Price shall, regardless of the number of Defaults, (A) be limited to nine percent (9%) in the aggregate, and (B) shall at no time be reduced by more than one percent (1%) during any ninety
(90) day period. In no event will a holder of Series A Preferred Shares be entitled to receive a cash settlement or other consideration in lieu of the adjustments, rights and remedies provided in Section 9(e) in respect of any
Default with respect to the Series A Preferred Shares so held (and not with respect to other Equity Securities that may be held by such holder). 
 (f) The Conversion Price shall be subject to adjustment from time to time as follows: 
 (i)
If the Corporation shall, at any time or from time to time after the date of filing of this Restated Certificate of Incorporation, issue any Equity Securities (as defined below) other than Excluded Stock (as defined below) without consideration or
for a consideration per share less than either (i) Conversion Price for the Series A Preferred Shares in effect immediately prior to 

  

 -14- 

 
the issuance of such Equity Securities or (ii) the Fair Market Value (as hereinafter defined) of one share of Common Stock immediately prior to the
issuance of each such security, then the Conversion Price in effect immediately prior to each such issuance shall forthwith be lowered to a price equal to the lower of either: 
 (A) the quotient obtained by dividing: 
 (1) an amount equal to the sum of (x) the total number of shares of Common Stock outstanding (including any shares of Common Stock deemed to have been issued purusant to subdivision (C) of clause
(ii) below) multiplied by the Conversion Price in effect immediately prior to such issuance, and (y) the consideration received by the Corporation upon such issuance; by 
 (2) the total number of shares of Common Stock outstanding (including any shares of Common Stock deemed to have been issued pursuant to
subdivision (C) of clause (ii) below) immediately after the issuance of such Common Stock; or 
 (B) the product
obtained by multiplying the Conversion Price in effect immediately prior to such issuance by the quotient obtained by dividing: 
 (1) an amount equal to the sum of (x) the total number of shares of Common Stock outstanding (including any shares of Common Stock deemed to have been issued pursuant to subdivision (C) of clause (ii) below) immediately prior
to such issuance, multiplied by the Fair Market Value of one share of Common Stock immediately prior to such issuance, and (y) the consideration received by the Corporation upon such issuance; by 
 (2) the total number of shares of Common Stock outstanding (including any shares of Common Stock deemed to have been issued pursuant to
subdivision (C) of clause (ii) below) immediately after the issuance of such Common Stock multiplied by the Fair Market Value of one Share of Common Stock immediately prior to such issuance. 
 (ii) For the purposes of any adjustment of the Conversion Price pursuant to clause (i) above, the following provisions shall be
applicable: 
 (A) In the case of the issuance of Common Stock for cash, the consideration shall be deemed to be the amount
of cash paid therefor without deducting therefrom any discounts, commissions or placement fees payable by the Corporation to any underwriter or placement agent in connection with the issuance and sale thereof. 
  

 -15- 

 (B) In the case of the issuance of Common Stock for a consideration in whole or in part
other than cash, the consideration other than cash shall be deemed to be the fair market value thereof as determined in good faith by the Board (provided that any dispute as to such fair market value shall be resolved in accordance with the
procedures set forth for the determination of Fair Market Value in Section 9(k)), irrespective of any accounting treatment. 
 (C) In the case of the issuance of options to purchase or rights to subscribe for Common Stock, securities by their terms convertible into or exchangeable for Common Stock, or options to purchase or rights to
subscribe for such convertible or exchangeable securities: 
 (1) the aggregate maximum number of shares of Common Stock
deliverable upon exercise of such options to purchase or rights to subscribe for Common Stock shall be deemed to have been issued at the time such options or rights were issued and for a consideration equal to the consideration (determined in the
manner provided in subdivisions (A) and (B) above), if any, received or receivable by the Corporation upon the issuance of such options or rights plus the minimum purchase price provided in such options or rights for the Common Stock
covered thereby; 
 (2) the aggregate maximum number of shares of Common Stock deliverable upon conversion of, or in exchange
for, any such convertible or exchangeable securities or upon the exercise of options to purchase or rights to subscribe for such convertible or exchangeable securities and subsequent conversion or exchange thereof shall be deemed to have been issued
at the time such securities, options, or rights were issued and for a consideration equal to the consideration received by the Corporation for any such securities and related options or rights (excluding any cash received on account of accrued
interest or accrued dividends), plus the additional consideration, if any, to be received by the Corporation upon the conversion or exchange of such securities or the exercise of any related options or rights (the consideration in each case to be
determined in the manner provided in subdivisions (A) and (B) above); 
 (3) on any change in the number of shares
or exercise price of Common Stock deliverable by the Corporation upon exercise of any such options or rights or upon conversions of or in exchange for such convertible or exchangeable securities, the Conversion Price shall forthwith be readjusted to
such Conversion Price as would have been obtained had the adjustment made upon the issuance of such options, rights or securities not converted prior to such change or options or rights related to such securities not converted prior to such change,
been made upon the basis of such change; and 
  

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 (4) on the expiration of any such options or rights, the termination of any such rights
to convert or exchange or the expiration of any options or rights related to such convertible or exchangeable securities, the Conversion Price shall forthwith be readjusted to such Conversion Price as would have been obtained had the adjustment made
upon the issuance of such options, rights, securities or options or rights related to such securities been made upon the basis of the issuance of only the number of shares of Common Stock actually issued upon the exercise of such options or rights,
upon the conversion or exchange of such securities, or upon the exercise of the options or rights related to such securities and subsequent conversion or exchange thereof. 
 In any case in which one of the provisions of this paragraph (f) shall require that adjustments to the Conversion Price shall
be made as a result of any one (1) event for which a corresponding adjustment would be made pursuant to another provision in this paragraph (f), the multiple adjustments shall not be aggregated, and the adjustment that results in the
greatest decrease in the Conversion Price shall be the adjustment effected. 
 (iii) “Excluded Stock” means
(1) up to 9,650,000 shares of Common Stock (as adjusted for any stock dividends, combinations, splits, recapitalizations, and related transactions) at any time issuable upon the exercise of options granted to directors, officers, bona fide
consultants and employees of the Corporation issued, subject to Section 8(b)(v) hereof, pursuant to a Board-approved option or incentive plan, (2) shares of Common Stock issuable upon conversion of the Series A Preferred Shares,
(3) shares of Common Stock issuable upon the exercise of options, warrants or other securities exchangeable or exercisable for, or convertible into, shares of Common Stock that are outstanding as of the date of filing of this Restated
Certificate of Incorporation and disclosed to the holders of the Series A Preferred Shares pursuant to the Share Purchase Agreement, (4) shares of Common Stock that may be issued pursuant to Section 2.13 of the SB Merger Agreement
(as defined in the Share Purchase Agreement), and (5) shares of Common Stock that may be issued pursuant to Section 4.13 of the Share Purchase Agreement or pursuant to Section 2(b) of the Registration Rights Agreement.
“Equity Securities” means all shares of capital stock of the Corporation, all securities convertible or exchangeable for shares of capital stock of the Corporation (including the Blank Check Preferred Shares), and all options,
warrants, and other rights to purchase or otherwise acquire from the Corporation shares of such capital stock, including any stock appreciation or similar rights, contractual or otherwise. For purposes of this Restated Certificate, the “Fair
Market Value” as of a particular date shall be determined as follows: (i) if shares of Common Stock are traded on a securities exchange (including the New York Stock Exchange, American Stock Exchange and the NASDAQ Stock Exchange) or
through the NASDAQ Global Market or Capital Market or other 

  

 -17- 

 
over-the-counter market, the Fair Market Value shall be deemed to be the average of the closing sales prices of such shares on such exchange over the thirty
(30) day period ending three (3) days prior to the date of determination of the Fair Market Value; or (ii) if no public market exists for the shares of Common Stock, the Fair Market Value shall (subject to the Holder’s right to
dispute such valuation as described in Section 9(k) below) be determined in good faith by the Board. 
 (iv) If,
at any time after the date of filing of this Restated Certificate of Incorporation, the number of shares of Common Stock outstanding is increased by a stock dividend payable in shares of Common Stock or by a subdivision or split-up of shares of
Common Stock, then, following the record date for the determination of holders of Common Stock entitled to receive such stock dividend, subdivision or split-up, the Conversion Price shall be appropriately decreased so that the number of shares of
Common Stock issuable on conversion of each share of the Series A Preferred Shares shall be increased in proportion to such increase in outstanding shares. The provisions of this clause shall similarly apply to successive stock dividends,
subdivisions or split-ups. 
 (v) If, at any time after the date of filing of this Restated Certificate of Incorporation, the
number of shares of Common Stock outstanding is decreased by a combination of the outstanding shares of Common Stock (including a reverse stock split of the Common Stock), then, following the record date for such combination, the Conversion Price
shall be appropriately increased so that the number of shares of Common Stock issuable on conversion of each share of the Series A Preferred Shares shall be decreased in proportion to such decrease in outstanding shares. The provisions of this
clause shall similarly apply to successive combinations or reverse-splits. 
 (vi) Except in connection with a Liquidation, in
the event of any capital reorganization of the Corporation, any reclassification of the stock of the Corporation (other than a change in par value or from no par value to par value or from par value to no par value or as a result of a stock dividend
or subdivision, split-up or combination of shares), or any consolidation or merger of the Corporation, each Series A Preferred Share shall after such reorganization, reclassification, consolidation, or merger be convertible into the kind and number
of shares of stock or other securities or property of the Corporation or of the corporation resulting from such consolidation or surviving such merger to which such Series A Preferred Share would have been entitled upon such reorganization,
reclassification, consolidation or merger had such Series A Preferred Share been converted immediately prior thereto. The provisions of this clause shall similarly apply to successive reorganizations, reclassifications, consolidations or mergers.

 (vii) All calculations under this paragraph shall be made to the nearest one hundredth (1/100) of a cent or the
nearest one tenth (1/10) of a share, as the case may be. 
  

 -18- 

 (viii) In any case in which the provisions of this paragraph (f) shall
require that an adjustment shall become effective immediately after a record date of an event, the Corporation may defer until the occurrence of such event (i) issuing to the holder of any share of the Series A Preferred Shares converted after
such record date and before the occurrence of such event the shares of capital stock issuable upon such conversion by reason of the adjustment required by such event in addition to the shares of capital stock issuable upon such conversion before
giving effect to such adjustments, and (ii) paying to such holder any amount in cash in lieu of a fractional share of capital stock pursuant to paragraph (c) above; provided, however, that the Corporation shall deliver to
such holder an appropriate instrument evidencing such holder’s right to receive such additional shares and such cash. 
 (g) Whenever the Conversion Price shall be adjusted as provided in paragraph (f), the Corporation shall make available for inspection during regular business hours, at its principal executive offices or at such other place as may be
designated by the Corporation, a statement, signed by its chief executive officer, showing in detail the facts requiring such adjustment and the Conversion Price that shall be in effect after such adjustment. The Corporation shall also cause a copy
of such statement to be sent by nationally recognized overnight carrier or by first class certified mail, return receipt requested and postage prepaid, to each holder of the Series A Preferred Shares at such holder’s address appearing on the
Corporation’s records. Where appropriate, such copy may be given in advance and may be included as part of any notice required to be mailed under the provisions of paragraph (h) below. Except pursuant to the provisions of clause
(f)(ii)(C)(4) or clause (f)(v) above, the Conversion Price shall never be increased. 
 (h) If the Corporation
shall propose to take any action of the types described in clauses (iv), (v) or (vi) of paragraph (f) above, the Corporation shall give notice to each holder of the Series A Preferred Shares, in the manner set forth in
paragraph (g) above, which notice shall specify the record date, if any, with respect to any such action and the date on which such action is to take place. Such notice shall also set forth such facts with respect thereto as shall be
reasonably necessary to indicate the effect of such action (to the extent such effect may be known at the date of such notice) on the Conversion Price and the number, kind or class of shares or other securities or property which shall be deliverable
or purchasable upon the occurrence of such action or deliverable upon conversion of the Series A Preferred Shares. In the case of any action which would require the fixing of a record date, such notice shall be given at least 20 days prior to the
date so fixed, and in case of all other action, such notice shall be given at least 30 days prior to the taking of such proposed action. Failure to give such notice, or any defect therein, shall not affect the legality or validity of any such
action. 
 (i) The Corporation shall reserve, and at all times from and after the date of filing of this Restated Certificate
of Incorporation keep reserved, free from preemptive or similar rights, out of its authorized but unissued shares of Common Stock, solely for the purpose of effecting the conversion of the Series A Preferred Shares, sufficient shares of Common Stock
to provide for the conversion of all outstanding Series A Preferred Shares. 
  

 -19- 

 (j) Any adjustment to the Conversion Price hereunder shall, for all tax purposes, be
treated as an adjustment to the Series A Purchase Price and not as a deemed exchange of the Series A Preferred Shares. 
 (k)
If the Requisite Holders disagree with the Board’s determination of the Fair Market Value or value of a hypothetical or assumed Liquidation or other valuation matter hereunder, such holders may submit a notice of disagreement to the
Corporation. During the three (3) business days immediately following the Corporation’s receipt of such notice, such holders and the Corporation shall negotiate in good faith to determine a mutually agreeable resolution. If the parties
remain unable to reach agreement after such period, they shall engage one of the “Big 4” accounting firms reasonably acceptable to each such party to resolve such dispute (the “Valuation Firm”). Each of such holders and
the Corporation shall provide (at each’s own expense) the Valuation Firm with copies of any documents, analyses or other information within its possession or control that the Valuation Firm reasonably requests in order to resolve such dispute.
The Valuation Firm shall determine the Fair Market Value or value of a hypothetical or assumed Liquidation or other applicable valuation event, as applicable, as soon as practicable after its engagement to resolve the dispute using customary
valuation techniques for other companies or businesses in the same or similar industries as the Corporation (and shall not apply any discount due to the fact that the Preferred Stock or Common Stock may constitute “restricted securities”,
may be illiquid or represent a minority interest in the Corporation). The Valuation’s Firm’s determination shall be binding, and not subject to challenge or collateral attack for any reason. The Corporation shall pay all fees, costs and
expenses of the Valuation Firm in connection with its engagement to resolve such dispute (the “Valuation Cost”); provided, however, that if the Valuation Firm’s determination of the Fair Market Value is in excess
of 50% lower than said holders’ proposed Fair Market Value, then the fees and expenses of the Valuation Firm shall be shared (with respect to the Requisite Holders, pro rata in accordance with their respective ownership percentages) in
the same proportion that the Corporation’s position, on the one hand, and the holders’ position, on the other hand, initially presented to the Valuation Firm (based on the aggregate of all differences taken as a whole) bear to the final
resolution as determined by the Valuation Firm. 
 (l) Notwithstanding anything to the contrary herein, except with respect to
Section 10 hereof, each holder of Series A Preferred Shares that has elected to be subject to this provision pursuant to the Share Purchase Agreement may not convert, and the Corporation shall not issue any Common Stock upon any
attempted conversion of, any Series A Preferred Shares into Common Stock, to the extent that after giving effect to such conversion, the beneficial owner of such shares (together with such Person’s Affiliates), would have acquired, through
conversion of Series A Preferred Shares or otherwise, beneficial ownership of a number of shares of Common Stock in excess of 9.99% of the shares of Common Stock outstanding immediately after giving effect to such conversion. For purposes of the
foregoing, the aggregate number of shares of Common Stock beneficially owned by a Person and its Affiliates shall include the number of shares of Common Stock issuable upon conversion of the Series A Preferred Shares with respect to which the
determination of such sentence is being made, and shall include additional shares of Common Stock issued to the holder of Series A Preferred Shares after the Issue Date, but shall exclude the number of shares of Common Stock which would be issuable
upon (A) conversion of the remaining, Series A Preferred Shares subject to a limitation on conversion as set forth herein beneficially owned by such Person or any 

  

 -20- 

 
of its Affiliates and (B) exercise or conversion of the unexercised or unconverted portion of any other securities of the Corporation beneficially owned
by such Person or any of its Affiliates (including, without limitation, any notes or warrants) subject to a limitation on conversion or exercise analogous to the limitation contained in this Section. Except as set forth in the preceding sentence,
for purposes of this Section 9(l), beneficial ownership shall be calculated in accordance with Section 13(d) of the Exchange Act. For purposes of this Section 9(l), in determining the number of outstanding shares of
Common Stock, a holder may rely on the number of outstanding shares of Common Stock as reflected in (1) the Corporation’s most recent Form 10-K, Form 10-KSB, Form 10-Q, Form 10-QSB or Form 8-K, as the case may be, (2) a more recent
public announcement by the Corporation, or (3) any other notice by the Corporation or the Corporation’s transfer agent setting forth the number of shares of Common Stock outstanding. For any reason at any time, upon the written request of
any holder, the Corporation shall within one (1) Business Day following the receipt of such notice, confirm orally and in writing to any such holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding
shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Corporation, including the Series A Preferred Shares, by such holder and its Affiliates since the date as of which such number of
outstanding shares of Common Stock was reported. The provisions of this Section 9(l) may be either (i) decreased or increased at any time by such holder of Series A Preferred Shares at the election of such holder to apply at any
percentage between 4.99% and 9.99% instead of 9.99% or (ii) waived in whole or in part permanently or temporarily at any time by such holder of Series A Preferred Shares at the election of such holder, in the case of clauses (i) or
(ii) upon not less than 65 days’ prior notice to the Corporation, and the provisions of this Section 9(l) shall not be modified or waived until such 65th day (or such later date, as determined by such holder, as may be
specified in such notice of modification or waiver). 
 10. Mandatory Conversion. 
 (a) Upon the first to occur of (i) the election by the Requisite Holders to cause the conversion of all of the Series A Preferred
Shares or a portion of the Series A Preferred Shares then outstanding (which portion may in no event be less than 20% of the total Series A Preferred Shares then outstanding), or (ii) the election (each such election, a “Forced
Conversion Right”) by the Corporation upon the occurrence of a Forced Conversion Event to force the conversion of all of the Series A Preferred Shares or a portion of the Series A Preferred Shares then outstanding (which portion may in no
event be less than 20% of the total Series A Preferred Shares then outstanding), each Series A Preferred Share then outstanding and requested to be converted by the Corporation as a result of such Forced Conversion Right or requested to be converted
by the Requisite Investors, shall, by virtue of and simultaneously with such election, be deemed automatically converted into the number of fully paid and nonassessable shares of Common Stock which would be issuable in respect thereof pursuant to
Section 9; provided, however, that in the event the Corporation exercises a Forced Conversion Right on a date that is prior to to three (3) years after the Issue Date, the Preference Amount shall be calculated
(including the calculation of accrued and unpaid dividends) assuming the conversion had occurred with respect to such Series A Preferred Shares on the last date of the Dividend Payment Period to occur on or after the date that is three
(3) years after the Issue Date; provided, further, however, that the Corporation may not elect to exercise its Forced Conversion Right unless, in accordance with the terms of the Registration Rights Agreement, a
registration 

  

 -21- 

 
statement registering the sale of the shares of Common Stock issuable upon conversion of the Series A Preferred Shares is declared effective under the
Securities Act of 1933, as amended, prior to the date the Corporation elects its Forced Conversion Right and such registration statement remains effective on the date upon which such conversion shall occur. “Forced Conversion
Event” shall mean, with respect to the exercise of each Forced Conversion Right, the date that (i) the last sales price of the Common Stock has been (A) at least $11.50 per share (if the date of the Forced Conversion Event is
prior to the date that is three (3) years after the Issue Date) or (B) at least $12.50 per share (if the date of the Forced Conversion Event is subsequent to the date that is three (3) years after the Issue Date), on each of twenty
(20) trading days within any thirty (30) trading day period ending on the third business day prior to the date on which the Corporation has provided notice of its election to force the conversion of the Series A Preferred Shares (in each
case as adjusted for any stock dividends, combinations, splits, recapitalizations and related transactions with respect to such shares) and (ii) and the Corporation has also elected to redeem all of the warrants outstanding pursuant to the
Public Warrant Agreement. For the sake of clarity, in the event the Corporation elects to force the conversion of less than all of the Series A Preferred Shares upon the occurrence of a Forced Conversion Event, the Corporation shall only be
permitted to convert Series A Preferred Shares that remain outstanding thereafter upon the occurrence of a subsequent Forced Conversion Event. 
 (b) As promptly as practicable after the satisfaction of any of the conditions set forth in Section 10(a) to occur and the delivery to the Corporation of the certificate or certificates for the Series A
Preferred Shares which have been converted, duly endorsed or assigned in blank to the Corporation (if required by it), the Corporation shall issue and deliver to or upon the written order of each holder of Series A Preferred Shares, to the place
designated by such holder, a certificate or certificates for the number of full shares of Common Stock to which such holder is entitled, and a cash amount in respect of any fractional interest in a share of Common Stock as provided in
Section 9(c) above. The person in whose name the certificate or certificates for Common Stock are to be issued shall be deemed to have become a stockholder of record on the date of such occurrence and on such date the Series A Preferred
Shares shall cease to be outstanding, whether or not the certificates representing such shares have been received by the Corporation. 
 (c) If the Corporation elects to exercise its Forced Conversion Right with respect to less than all of the then outstanding Series A Preferred Shares, the Series A Preferred Shares to be converted shall be converted
pro rata by each holder of Series A Preferred Shares based upon the total Series A Preferred Shares then outstanding and held by each holder of Series A Preferred Shares. 
 (d) Notwithstanding anything in this Section 10 to the contrary, in the event the exercise of a Forced Conversion Right by the
Corporation and the conversion in connection therewith would result in a holder of Series A Preferred Shares being required to make filings as required by the HSR Act and/or any other Law concerning competition matters, then such holder of Series A
Preferred Shares shall not be required to convert such Series A Preferred Shares in accordance with this provision until such time as a waiver or clearance is obtained under the HSR Act and/or any other Law concerning competition matters by the
applicable governmental authorities. The Series A Preferred Shares that have not been converted shall continue to be deemed to be outstanding and to accrue dividends and maintain all other rights applicable to such Series A Preferred Shares until
validly converted hereunder. 
  

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 ARTICLE V. 
 Section 1. Number of Directors. The members of the governing board of the Corporation are styled as directors. The board of directors of the Corporation shall be elected in such manner as shall be provided
in the Bylaws of the Corporation. The number of directors shall be not less than two (2) nor more than ten (10). The number of directors may be changed from time to time within this range in such manner as shall be provided in the Bylaws of the
Corporation. 
 Section 2. Initial Directors. The initial Board of Directors of this Corporation shall consist of seven
(7) members, but the number may be increased or decreased in the manner provided in the Bylaws of this Corporation; provided, however, that, except as otherwise provided in the Bylaws of this Corporation, or except as otherwise provided for or
fixed by or pursuant to the provisions of Article IV of this Restated Certificate of Incorporation relating to the rights of the holders of any series of Preferred Stock, the number of directors constituting the entire Board of Directors
shall not be changed without the affirmative vote of at least sixty-six and two-thirds percent (66 and 2/3%) of the issued and outstanding shares of Common Stock (including the Series A Preferred Stock on an as converted basis as provided for in
Section 8 of Article IV). As used in this Restated Certificate of Incorporation, the term “entire board” means the total number of directors that the Corporation would have if there were no vacancies or unfilled newly
created directorships. Elections of directors need not be by written ballot except and to the extent provided in the Bylaws of the Corporation. The names and addresses of the persons who are to serve as the initial directors of the Corporation upon
the filing of this Restated Certificate of Incorporation are: 
  

			
	 Name
	  	 Address

	Robert J. Gillespie	  	6106 Sunrise Ranch Drive
		  	Longmont, Colorado 80503
		
	Robert S. Gluck	  	6106 Sunrise Ranch Drive
		  	Longmont, Colorado 80503
		
	William E. Hooper	  	6106 Sunrise Ranch Drive
		  	Longmont, Colorado 80503
		
	Stephen B. Hughes	  	6106 Sunrise Ranch Drive
		  	Longmont, Colorado 80503
		
	James E. Lewis	  	6106 Sunrise Ranch Drive
		  	Longmont, Colorado 80503
		
	Gerald J. Laber	  	6106 Sunrise Ranch Drive
		  	Longmont, Colorado 80503
		
	Robert F. McCarthy	  	6106 Sunrise Ranch Drive
		  	Longmont, Colorado 80503

  

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 Section 3. Removal and Filling of Newly Created Directorships. Any one or more directors may
be removed at any time, with or without cause, by the affirmative vote of at least sixty-six and two-thirds percent (66 2/3%) of the issued and outstanding shares of Common Stock (including the Series A Preferred Shares on an as converted basis as
provided for in Section 8 of Article IV) that are present or represented at a special meeting of stockholders called for such purpose, voting together as a single class. At the same meeting at which the stockholders remove one or
more directors, a successor or successors may be elected for the unexpired term of the director or directors removed. Except as set forth in this Article V (3), directors shall not be subject to removal. Notwithstanding the foregoing,
whenever holders of outstanding shares of one or more series of Preferred Stock are entitled to elect directors of the Corporation pursuant to the provisions contained in the resolution or resolutions of the Board providing for the establishment of
any such series, any such director of the Corporation so elected may be removed only in accordance with the provisions of such resolution or resolutions. Except as otherwise provided for or fixed by or pursuant to the provisions of Article IV
of this Restated Certificate of Incorporation relating to the rights of the holders of any series of Preferred Stock, newly created directorships resulting from any increase in the number of directors shall be filled by the Board by the affirmative
vote of a majority of the directors then in office, or by the stockholders holding at least sixty-six and two-thirds percent (66 2/3%) of the issued and outstanding shares of Common Stock (including the Series A Preferred Shares on an as converted
basis as provided for in Section 8 of Article IV) that are present or represented at a special meeting of stockholders called for such purpose, voting together as a single class. 
 Section 4. Election and Vacancies. Directors shall be elected at each annual meeting of stockholders, and each director elected shall hold
office until such director’s successor has been elected and qualified, subject, however, to earlier death, resignation or removal from office. Except as otherwise provided for or fixed by or pursuant to the provisions of Article IV of
this Restated Certificate of Incorporation relating to the rights of the holders of any series of Preferred Stock, any vacancies on the Board resulting from death, resignation, removal or other cause shall be filled by the Board by the affirmative
vote of a majority of the remaining directors then in office, even though less than a quorum of the Board, or by a sole remaining director, or by the stockholders holding at least sixty-six and two-thirds percent (66 2/3%) of the issued and
outstanding shares of Common Stock (including the Series A Preferred Shares on an as converted basis as provided for in Section 8 of Article IV) that are present or represented at a special meeting of stockholders called for such
purpose, voting together as a single class. 
 Section 5. Advance Notice of Nominations. Subject to Article X of this
Restated Certificate of Incorporation, advance notice of nominations for the election of directors shall be given in the manner and to the extent provided in the Bylaws of the Corporation. 
 Section 6. Payment of Expenses. In addition to any other rights of indemnification permitted by the laws of the State of Delaware, including
the DGCL, or as may be provided for by the Corporation in this Restated Certificate of Incorporation, its Bylaws or by agreement, the expenses of officers and directors incurred in defending a civil or criminal action, suit or proceeding, involving
alleged acts or omissions of such officer or director in his or her capacity 

  

 -24- 

 
as an officer or director of the Corporation, must be paid, by the Corporation or through insurance purchased and maintained by the Corporation or through
other financial arrangements made by the Corporation, as they are incurred and in advance of the final disposition of the action, suit or proceeding, upon receipt of an undertaking by or on behalf of the director or officer to repay the amount if it
is ultimately determined by a court of competent jurisdiction that he or she is not entitled to be indemnified by the Corporation. 
 Section 7. Classification of Directors. The Board of Directors shall divide itself into three (3) classes, as nearly equal in number as possible, with respect to the time for which the directors shall severally hold office.
Directors of the first class first chosen shall initially hold office for one (1) year or until the first annual election following their election; directors of the second class first chosen shall initially hold office for two (2) years or
until the second annual election following their election; and directors of the third class first chosen shall initially hold office for three (3) years or until the third annual election following their election; and, in each case, until their
successors to the class of directors whose term shall expire at that time shall be elected to hold office for a term of three (3) years, so that the term of office of one class of directors shall expire in each year. Each director elected shall
hold office until his successor shall be elected and shall qualify. 
 ARTICLE VI. 
 For the management of the business and for the conduct of the affairs of the Corporation, and in further definition, limitation and regulation of the
powers of the Corporation and of its directors and stockholders, it is further provided: 
 (a) In furtherance and not in
limitation of the powers conferred by the laws of the State of Delaware, the Board is expressly authorized and empowered: 
 (i) to adopt, alter, amend or repeal the By-laws in any manner not inconsistent with the laws of the State of Delaware or this Restated Certificate of Incorporation by a vote of at least two-thirds of all directors who constitute the Board
of Directors, except as and to the extent provided in the Bylaws. 
 (ii) to determine whether any, and if any, what part, of
the net profits of the Corporation or of its surplus shall be declared in dividends and paid to the stockholders, and to direct and determine the use and disposition of any such net profits or such surplus; and 
 (iii) to fix from time to time the amount of net profits of the Corporation or of its surplus to be reserved as working capital or for any
other lawful purpose. 
 In addition to the powers and authorities herein or by statute expressly conferred upon it, the Board may exercise
all such powers and do all such acts and things as may be exercised or done by the Corporation, subject, nevertheless, to the provisions of the laws of the State of Delaware, of this Restated Certificate of Incorporation and of the By-laws of the
Corporation. 
  

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 (b) Notwithstanding any other provision of this Restated Certificate of Incorporation or
the Bylaws of this Corporation (and notwithstanding that some lesser percentage may be specified by law), no provision of the Bylaws of the Corporation shall be amended, modified or repealed by the stockholders of the Corporation, nor shall any
provision of the Bylaws of the Corporation inconsistent with any such provision be adopted by the stockholders of the Corporation, unless approved by the affirmative vote of holders of at least seventy-five percent (75%) of the issued and
outstanding shares of Common Stock (including the Series A Preferred Shares on an as converted basis as provided for in Section 8 of Article IV). Any purported amendment to the Bylaws which would add thereto a matter not expressly
covered in the Bylaws prior to such purported amendment shall be deemed to constitute the adoption of a Bylaw provision and not an amendment to the Bylaws. 
 ARTICLE VII. 
 Notwithstanding any other provision of this Restated Certificate of Incorporation, the
Bylaws of the Corporation or any provision of law which might otherwise permit a lesser vote or no vote, but in addition to any affirmative vote of the holders of any particular class or series of stock of the Corporation required by law, this
Restated Certificate of Incorporation or as provided for or fixed by or pursuant to the provisions of Article IV of this Restated Certificate of Incorporation relating to the rights of the holders of any series of Preferred Stock, the
affirmative vote (or consent under Article X, if such consent is then permitted) of at least seventy-five percent (75%) of the voting power of the then outstanding shares of the voting stock of the Corporation entitled to vote generally
in the election of directors, voting together as a single class, shall be required for the modification, amendment or repeal of all or any portion of Articles IV, V, VI, this Article VII, Articles VIII, IX, or X of this Restated
Certificate of Incorporation. 
 ARTICLE VIII. 
 Any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative (whether or not by or
in the right of the Corporation) by reason of the fact that he is or was a director, officer, incorporator, employee or agent of the Corporation, or is or was serving at the request of the Corporation as a director, officer, incorporator, employee,
partner, trustee or agent of another corporation, partnership, joint venture, trust or other enterprise (including an employee benefit plan), shall be entitled to be indemnified by the Corporation to the full extent then permitted by the DGCL as it
exists or as it may hereafter be amended against expenses (including counsel and expert witness fees and disbursements), judgments, fines (including excise taxes assessed on a person with respect to an employee benefit plan) and amounts paid in
settlement incurred by him or her in connection with such action, suit or proceeding. Such right of indemnification shall inure whether or not the claim asserted is based on matters which antedate the adoption of this Article VIII. Such right
of indemnification shall continue as to a person who has ceased to be a director, officer, incorporator, employee, partner, trustee or agent and shall inure to the benefit of the heirs and personal representatives of such a person. The
indemnification provided by this Article VIII shall not be deemed exclusive of any other rights which may be provided now or in the future under any provision currently in effect or hereafter adopted in this Restated Certificate of
Incorporation, the Bylaws, by any agreement, by vote of stockholders, by resolution of disinterested directors, by provision of law or otherwise. 
  

 -26- 

 ARTICLE IX. 
 No director of the Corporation shall be liable to the Corporation or any of its stockholders for monetary damages for breach of fiduciary duty as a director, provided that this provision does not eliminate the
liability of the director (i) for any breach of the director’s duty of loyalty to the Corporation or its stockholders, (ii) for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law,
(iii) under Section 174 of Title 8 of the Delaware Code or (iv) for any transaction from which the director derived an improper personal benefit. For purposes of the prior sentence, the term “damages” shall, to the extent
permitted by law, include, without limitation, any judgment, fine, amount paid in settlement, penalty, punitive damages, excise or other tax assessed with respect to an employee benefit plan, or expense of any nature (including, without limitation,
counsel and expert witness fees and disbursements). Each person who serves as a director of the Corporation while this Article IX is in effect shall be deemed to be doing so in reliance on the provisions of this Article IX, and neither
the amendment or repeal of this Article IX, nor the adoption of any provision of this Restated Certificate of Incorporation inconsistent with this Article IX, shall apply to or have any effect on the liability or alleged liability of
any director or the Corporation for, arising out of, based upon or in connection with any acts or omissions of such director occurring prior to such amendment, repeal or adoption of an inconsistent provision. The provisions of this Article IX
are cumulative and shall be in addition to and independent of any and all other limitations on or eliminations of the liabilities of directors of the Corporation, as such, whether such limitations or eliminations arise under or are created by any
law, rule, regulation, bylaw, agreement, vote of shareholders or disinterested directors, or otherwise. If the DGCL is amended to authorize corporate action further eliminating or limiting the personal liability of directors, then the liability of a
director of the Corporation shall be eliminated or limited to the fullest extent permitted by the DGCL, as so amended, without any further amendment to this Restated Certificate of Incorporation. 
 ARTICLE X. 
 Notwithstanding any other
provision of this Restated Certificate of Incorporation or the Bylaws of this Corporation, and notwithstanding anything to the contrary specified by law, no action required or permitted to be taken at any annual or special meeting of the
stockholders of this Corporation may be taken without such a meeting, and the power of stockholders of this Corporation to consent in writing to the taking of such action without a meeting, as contemplated by Section 228 of the DGCL, is hereby
specifically denied; provided, however, an action of the holders of Series A Preferred Shares as a class may be taken without such a meeting, and the power of stockholders of this Corporation holding Series A Preferred Shares to
consent in writing to the taking of such action without a meeting, as contemplated by Section 228 of the DGCL, is hereby permitted. 
 The Corporation hereby elects not to be governed by Section 203 of the DGCL. 
 ***** 
  

 -27-

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