Document:

EX-10.1

 Exhibit 10.1 

Certain portions of this exhibit (indicated by “[*****]”) have been omitted pursuant to Item 601(b)(10) of Regulation S-K 
 THIS TRANSACTION SUPPORT AGREEMENT IS NOT AN OFFER OR ACCEPTANCE WITH RESPECT TO ANY SECURITIES OR A
SOLICITATION OF THE ACCEPTANCE OR REJECTION OF A CHAPTER 11 PLAN WITHIN THE MEANING OF SECTIONS 1125 AND 1126 OF THE BANKRUPTCY CODE. ANY SUCH OFFER OR SOLICITATION WILL COMPLY WITH ALL APPLICABLE SECURITIES LAWS AND/OR PROVISIONS OF THE BANKRUPTCY
CODE. NOTHING CONTAINED IN THIS TRANSACTION SUPPORT AGREEMENT SHALL BE AN ADMISSION OF FACT OR LIABILITY OR, UNTIL THE OCCURRENCE OF THE AGREEMENT EFFECTIVE DATE ON THE TERMS DESCRIBED HEREIN, DEEMED BINDING ON ANY OF THE PARTIES HERETO. 

TRANSACTION SUPPORT AGREEMENT 

This TRANSACTION SUPPORT AGREEMENT (including all exhibits, annexes, and schedules hereto in accordance with Section 15.02,
this “Agreement”) is made and entered into as of August 31, 2020 (the “Execution Date”), by and among the following parties (each of the following described in clauses (i) through
(iii) of this preamble, collectively, the “Parties”):1 
  

	 	(i)	 Jill Acquisition LLC, a company incorporated under the laws of Delaware (J.Jill), J.Jill, Inc., a company
incorporated under the laws of Delaware (“Holdings”) and J. Jill Gift Card Solutions, Inc. a company incorporated under the laws of Delaware (along with each such parties’ direct and indirect subsidiaries, collectively,
the “Company Parties”); 

  

	 	(ii)	 the undersigned beneficial owners (or nominees, investment managers, advisors or subadvisors for the beneficial
owners) of Term Loan Claims that have executed and delivered counterpart signature pages to this Agreement or a Joinder to counsel to the Company Parties, counsel to the Consenting Lenders and counsel to the Consenting Shareholders (collectively,
the “Consenting Lenders”); and 

  

	 	(iii)	 TowerBrook Capital Partners L.P. and each of its Affiliates that owns Equity Interests of Holdings (the
“Consenting Shareholders” or “TowerBrook” and, together with the Consenting Lenders, the “Consenting Stakeholders”). 

RECITALS 

WHEREAS, the Company Parties and the Consenting Stakeholders have in good faith and at arms’ length negotiated or been apprised of
certain restructuring, refinancing, and recapitalization transactions with respect to the Company Parties’ capital structure on the terms set forth in this Agreement and as specified in the out-of-court restructuring term sheet attached as Exhibit A hereto (the “Out-of-Court Term
Sheet”) and the in-court, prepackaged chapter 11 term sheet attached as Exhibit B hereto (the “Chapter 11 Term Sheet” and, such transactions as described in
this Agreement, the Out-of-Court Term Sheet, the Chapter 11 Term Sheet and the exhibits, schedules and annexes to each such term sheet, collectively, the
“Restructuring Transactions”); 
  

	1 	 Capitalized terms used but not defined in the preamble and recitals to this Agreement have the meanings
ascribed to them in Section 1. 

 WHEREAS, the Restructuring Transactions shall be implemented either through
(a) an out-of-court transaction in which the Company Parties shall (i) solicit consents from existing Lenders under the Term Loan Agreement to certain
amendments thereto and (ii) repurchase the Term Loans of Consenting Lenders at par (i.e., on a dollar-for-dollar basis) for New Term Loans, in each case on
the terms and subject to the conditions set forth in the Out-of-Court Term Sheet (the
“Out-of-Court Restructuring”), or (b) to the extent the Consent Threshold has not been obtained by the Out-of-Court Toggle Date, the solicitation of votes for a prepackaged chapter 11 plan consistent with the terms of this Agreement and the Chapter 11 Term Sheet (the “Plan”), to be
implemented, to the extent set forth herein, through the commencement by the Company Parties of voluntary cases under chapter 11 of title 11 of the United States Code, 11 U.S.C. §§ 101 – 1532 (as amended, the “Bankruptcy
Code”) in the United States Bankruptcy Court in a district to be determined by the Company Parties, (which district shall be reasonably satisfactory to the Required Consenting Lenders and TowerBrook (provided that TowerBrook has not
delivered the notice of termination under Section 13.03(c) herein) (the “Bankruptcy Court”, such cases, the “Chapter 11 Cases” and such transactions, the “In-Court Restructuring”); and 
 WHEREAS, the Parties have agreed to take certain
actions, as applicable, in support of the Restructuring Transactions and otherwise described herein, all on the terms and conditions set forth in this Agreement, the
Out-of-Court Term Sheet and the Chapter 11 Term Sheet. 

NOW, THEREFORE, in consideration of the covenants and agreements contained herein, and for other valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, each Party, intending to be legally bound hereby, agrees as follows: 
 AGREEMENT

 Section 1. Definitions and Interpretation. 

1.01. Definitions. The following terms shall have the following definitions: 

“Affiliate” has the meaning set forth in the Term Loan Agreement. 

“Agreement” has the meaning set forth in the preamble to this Agreement and, for the avoidance of doubt, includes all
the exhibits, annexes, and schedules hereto in accordance with Section 15.02. 
 “Agreement Effective Date”
means the date on which the conditions set forth in Section 2 have been satisfied or waived by the appropriate Party or Parties in accordance with this Agreement. 

“Agreement Effective Period” means, with respect to a Party, the period from the Agreement Effective Date (or, in the
case of any Consenting Lender that becomes a party hereto after the Agreement Effective Date, as of the date such Consenting Lender becomes a party hereto) to the Termination Date applicable to that Party. 

  
 2 

 “Alternative Restructuring Proposal” means any inquiry, proposal,
offer, bid, term sheet, discussion, or agreement with respect to an Alternative Restructuring. 
 “Alternative
Restructuring” means any sale, disposition, new-money investment, restructuring, reorganization, merger, amalgamation, acquisition, consolidation, dissolution, debt investment, equity investment,
financing (including any debtor-in-possession financing or exit financing), use of cash collateral, joint venture, partnership, liquidation, tender offer,
recapitalization, plan of reorganization, share exchange, business combination, or similar transaction involving any one or more Company Parties or the debt, equity, or other interests in any one or more Company Parties, other than the Restructuring
Transactions. 
 “Automatic Termination Outside Date” has the meaning set forth in Section 13.05. 

“Bankruptcy Code” has the meaning set forth in the recitals to this Agreement. 

“Bankruptcy Court” has the meaning set forth in the recitals to this Agreement. 

“Business Day” means any day other than a Saturday, Sunday, or other day on which commercial banks are authorized to
close under the Laws of, or are in fact closed in, the State of New York. 
 “Chapter 11 Cases” has the meaning set
forth in the recitals to this Agreement. 
 “Chapter 11 Term Sheet” has the meaning set forth in the recitals to
this Agreement. 
 “Claim” has the meaning ascribed to it in section 101(5) of the Bankruptcy Code. 

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

“Company Claims/Interests” means any Claim against, or Equity Interest in, a Company Party, including the Term Loan
Claims and the common stock of Holdings. 
 “Company Parties” has the meaning set forth in the preamble to this
Agreement. 
 “Confidentiality Agreement” means an executed confidentiality agreement, including with respect to the
issuance of a “cleansing letter” or other agreement relating to public disclosure of material non-public information, in connection with any proposed Restructuring Transactions. 

“Confirmation Order” means the confirmation order with respect to the Plan. 

“Consent” means any consent, novation, approval, authorization, qualification, waiver, registration or notification to
be obtained from, filed with or delivered to a Governmental Entity or any other Person. 
 “Consenting Lenders” has
the meaning set forth in the preamble to this Agreement. 

  
 3 

 “Consenting Lenders’ Advisors” means, collectively,
(a) Stroock & Stroock & Lavan LLP, as counsel to the Consenting Lenders, (b) Guggenheim Securities, LLC, as financial advisor to the Consenting Lenders and (c) if applicable and only to the extent that the Company
Parties commence the Chapter 11 Cases, one (1) local counsel to the Consenting Lenders. 
 “Consenting
Shareholders” has the meaning set forth in the preamble of this Agreement. 
 “Consenting Shareholders’
Advisors” means, collectively, (a) Paul, Weiss Rifkind, Wharton & Garrison LLP, as counsel to the Consenting Shareholders, (b) Greenhill & Co., LLC, as financial advisor to the Consenting Shareholders and
(c) if applicable and only to the extent that the Company Parties commence the Chapter 11 Cases, one (1) local counsel to the Consenting Shareholders. 

“Consenting Shareholders’ In-Court Consent Right” has the meaning set
forth in Section 3.02. 
 “Consenting Stakeholders” has the meaning set forth in the preamble of this
Agreement. 
 “Consenting Stakeholders’ Advisors” means, collectively, the Consenting Lenders’ Advisors
and the Consenting Shareholders’ Advisors. 
 “Consent Threshold” means holders of the Term Loan Claims
representing at least 95.0% of the aggregate outstanding principal amount of all Term Loan Claims. 
 “COVID-19” means SARS-CoV-2 or COVID-19, and any evolutions thereof or related or
associated epidemics, pandemics, or disease outbreaks. 
 “Credit Documents” has the meaning set forth in the Term
Loan Agreement. 
 “Debtors” means the Company Parties that commence Chapter 11 Cases, as applicable. 

“Definitive Documents” means the documents listed or described in Section 3.01. 

“DIP Documents” means the definitive documents with respect to any debtor-in-possession financing that may be extended to the Debtors to fund the Chapter 11 Cases, if necessary, in connection with the In-Court Restructuring, including
the DIP Motion, DIP Facility and DIP Facility Documents, and any interim and final orders of the Bankruptcy Court with respect to such debtor-in-possession financing.

 “DIP Facility” means the
debtor-in-possession financing facility on terms and conditions consistent in all material respects with the Chapter 11 Term Sheet. 

“DIP Facility Documents” means the documents governing the DIP Facility, which documents shall be consistent in all
material respects with this Agreement. 
 “DIP Motion” means a motion to be filed by the Debtors with the Bankruptcy
Court seeking Bankruptcy Court approval of the DIP Facility and authorizing use of cash collateral. 

  
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 “Disclosure Statement” means the disclosure statement with respect
to the Plan, that is prepared and distributed to holders of Term Loan Claims in accordance with, among other things, sections 1125, 1126(b), and 1145 of the Bankruptcy Code, Rule 3018 of the Federal Rules of Bankruptcy Procedure and other applicable
Law, and all exhibits, schedules, supplements, modifications and amendments thereto. 
 “Disclosure Statement Order”
means the order approving the Disclosure Statement. 
 “Entity” shall have the meaning set forth in section 101(15)
of the Bankruptcy Code. 
 “Equity Interests” means, with respect to any Person, collectively, the shares (or any
class thereof) of capital stock (including common stock and preferred stock), limited liability company interests, partnership interests and any other equity, ownership, or profits interests of such Person, and options, warrants, rights, stock
appreciation rights, phantom units, incentives, commitments, calls, redemption rights, repurchase rights or other securities or agreements to acquire or subscribe for, or which are convertible into, or exercisable or exchangeable for, the shares (or
any class thereof) of capital stock (including common stock and preferred stock), limited liability company interests, partnership interests and any other equity, ownership, or profits interests of such Person (in each case whether or not arising
under or in connection with any employment agreement). 
 “Exchange Act” means the Securities Exchange Act of 1934,
as amended and including any rule or regulation promulgated thereunder. 
 “Execution Date” has the meaning set forth
in the preamble to this Agreement. 
 “Exit Facilities Documents” means the documents governing the exit financing
facilities described in the Chapter 11 Term Sheet. 
 “Final DIP Order” means a final order of the Bankruptcy Court
approving the DIP Motion. 
 “First Day Pleadings” means the first-day
pleadings that the Company Parties determine are necessary or desirable to file with the Bankruptcy Court. 
 “Governmental
Entity” means any applicable federal, state, local or foreign government or any agency, bureau, board, commission, court or arbitral body, department, political subdivision, regulatory or administrative authority, tribunal or other
instrumentality thereof, or any self-regulatory organization. 
 “Holdings” has the meaning set forth in the
preamble of this Agreement. 
 “In-Court Release” means, in the event of the
In-Court Restructuring, mutual releases by the Parties to be included in the Plan, which shall be consistent with the release provisions set forth in Exhibit D. 

“In-Court Restructuring” has the meaning set forth in the recitals to this
Agreement. 
 “In-Court Restructuring Outside Date” has the meaning set
forth in Section 4 to this Agreement. 

  
 5 

 “Independent Director” has the meaning set forth in
Section 8.01(l). 
 “Interim DIP Order” means an interim order of the Bankruptcy Court approving the DIP
Motion. 
 “J.Jill” has the meaning set forth in the preamble of this Agreement. 

“Joinder” means an executed form of the joinder providing, among other things, that such Person signatory thereto is
bound by the terms of this Agreement and substantially in the form attached hereto as Exhibit C. 

“Law” means any federal, state, local, or foreign law (including common law), statute, code, ordinance, rule,
regulation, decree, injunction, order, ruling, assessment, writ or other legal requirement, or judgment, in each case, that is validly adopted, promulgated, issued, or entered by a governmental authority of competent jurisdiction (including the
Bankruptcy Court). 
 “Material Adverse Effect” means, other than the filing of the Chapter 11 Cases or as a direct
result of the impact of the COVID-19 pandemic, any event, change, effect, occurrence, development, circumstance, condition, result, state of fact or change of fact, or the worsening of any of the foregoing
(each, an “Event”) since the Execution Date, that, individually or together with all other Events, has had, or would reasonably be expected to have, a material adverse effect on either (a) the business, operations,
finances, properties, interests, reserves, condition (financial or otherwise), assets, or liabilities of the Company Parties, taken as a whole, or (b) the ability of the Company Parties, taken as a whole, to perform their respective obligations
under, or to consummate the transactions contemplated by, this Agreement. 
 “Material Contract” means any of the
following contracts or agreements to which any of the Company Parties is a party or by which any of the Company Parties or any of their respective assets or properties are bound: (a) any contract or agreement pursuant to which any of the
Company Parties leases, subleases or otherwise occupies any real property or in which any of the Company Parties has been granted a possessory interest or right to use or occupy any real property; (b) any contract or agreement that restricts or
will restrict any of the Company Parties from freely engaging in any business in any manner or competing anywhere; (c) any contract or agreement that is a joint venture agreement, data license agreement, or any contract or agreement pursuant to
which any Person has a right to acquire any Company Party’s interests in real property; (d) any contract or agreement between any Company Party, on the one hand, and any Related Party, on the other hand; (e) any contract or agreement
that is a “material contract,” or “plans of acquisition, reorganization, arrangement, liquidation or succession” (as each such term is defined in Item 601(b)(2) or Item 601(b)(10) of Regulation
S-K under the Exchange Act); (f) any Swap Obligation (as defined in the Term Loan Agreement); or (g) any contract or agreement that may reasonably be expected to result in aggregate payments by the
applicable Company Party or any other party thereto, or revenues to the applicable Company Party or any other party thereto, in either case greater than or equal to $1,000,000 during the current or any subsequent calendar year. 

“Milestones” has the meaning set forth in Section 4 to this Agreement. 

  
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 “New Organizational Documents” means the new Organizational
Documents of the Debtors after giving effect to the In-Court Restructuring, including any shareholders agreement, registration agreement or similar document. 

“New Term Loans” has the meaning set forth in the
Out-of-Court Term Sheet. 
 “No Recourse
Party” has the meaning set forth in Section 15.24. 
 “Organizational Documents” means, with
respect to any Person other than a natural person, the documents by which such Person was organized or formed (such as a certificate of incorporation, certificate of formation, certificate of limited partnership or articles of organization, and
including, without limitation, any certificates of designation for preferred stock or other forms of preferred equity) or which relate to the internal governance of such Person (such as by-laws, a partnership
agreement or an operating, limited liability company or members agreement). 
 “Out-of-Court Release” means, in the event of the Out-of-Court Restructuring, customary mutual releases by and for
the benefit of each of the Parties. 

“Out-of-Court Restructuring” has the
meaning set forth in the recitals to this Agreement. 

“Out-of-Court Restructuring Effective
Date” means the effective date of the Out-of-Court Restructuring. 

“Out-of-Court Restructuring Outside
Date” means September 30, 2020, as may be extended by the Required Parties by mutual agreement in writing pursuant to the terms of this Agreement. 

“Out-of-Court Restructuring Period”
means the period commencing on the Execution Date through the Out-of-Court Toggle Date. 

“Out-of-Court Term Sheet” has the
meaning set forth in the recitals to this Agreement. 

“Out-of-Court Toggle Date” means
September 11, 2020, as may be extended by the Required Parties by mutual agreement in writing pursuant to the terms of this Agreement; provided, however, that in the event that the Consenting Shareholders terminate this Agreement
as to such Consenting Shareholders under Section 13.03, the “Out-of-Court Toggle Date” shall be deemed to occur within two (2) Business Days of such
termination unless otherwise determined by the Required Consenting Lenders in their sole discretion. 
 “Parties”
has the meaning set forth in the preamble to this Agreement. 
 “Permits” means any license, permit, registration,
authorization, approval, certificate of authority, accreditation, qualification, or similar document or authority that has been issued or granted by any Governmental Entity. 

“Permitted Transferee” means each transferee of any Company Claims/Interests who meets the requirements of
Section 10.01. 

  
 7 

 “Person” means an individual, a partnership, a joint venture, a
limited liability company, a corporation, a trust, an unincorporated organization, a group, a Governmental Entity, or any legal entity or association. 

“Petition Date” means the first date any of the Company Parties commences a Chapter 11 Case. 

“Plan” has the meaning set forth in the recitals to this Agreement. 

“Plan Effective Date” means the occurrence of the effective date of the Plan according to its terms. 

“Plan Supplement” means the compilation of documents and forms and/or term sheets of documents, schedules, and
exhibits to the Plan that will be filed by the Debtors with the Bankruptcy Court, including the New Organizational Documents and the Exit Facilities Documents. 

“Qualified Marketmaker” means an entity that (a) holds itself out to the public or the applicable private markets
as standing ready in the ordinary course of business to purchase from customers and sell to customers Company Claims/Interests (or enter with customers into long and short positions in Company Claims/Interests), in its capacity as a dealer or market
maker in Company Claims/Interests and (b) is, in fact, regularly in the business of making a market in claims against issuers or borrowers (including debt securities or other debt). 

“Related Party” means (a) any current or former officer, employee, equityholder, or member of the board of
directors (or other governing body) of any Company Party, (b) any immediate family member of any Person described in clause (a) above, and (c) any Affiliate of any Person described in clause (a) or clause (b) above. 

“Required Consenting Lenders” means, as of any time of determination, Consenting Lenders holding at least 50.01% of
the aggregate outstanding principal amount of Term Loans that are held by all Consenting Lenders. 
 “Required Consenting
Stakeholders” means, as of any time of determination, each of (a) the Required Consenting Lenders and (b) the Consenting Shareholders. 

“Required Parties” means the Company Parties and the Required Consenting Lenders; provided that, to the extent
any approvals, consents, waivers or other decisions relate to either (a) the Definitive Documents for the Out-of-Court Transaction or (b) the Consenting
Shareholders’ In-Court Consent Right, “Required Parties” shall also include the Consenting Shareholders. 

“Restructuring Transactions” has the meaning set forth in the recitals to this Agreement. 

“Securities Act” means the Securities Act of 1933, as amended. 

“Solicitation Materials” means all documents, forms and other materials provided in connection with the solicitation
of votes on the Plan pursuant to sections 1125 and 1126 of the Bankruptcy Code. 

  
 8 

 “Term Loan” has the meaning set forth in the Term Loan Agreement.

 “Term Loan Forbearance Agreement” means the First Amended and Restated Forbearance Agreement, dated as of
July 15, 2020, by and among J.Jill, certain Lenders party thereto and the other parties thereto, as amended, restated, amended and restated, supplemented or otherwise modified from time to time. 

“Term Loan Agent” means any administrative agent, collateral agent, or similar Entity under the Term Loan Agreement,
including any successors thereto. 
 “Term Loan Agreement” means that certain Term Loan Credit Agreement dated as of
May 8, 2015, by and among J.Jill, Holdings, Jefferies Finance LLC, as Term Loan Agent, and the lenders and other parties thereto from time to time (as amended by that certain Amendment No. 1 to Term Loan Credit Agreement, dated as of
May 27, 2016, and as further amended, modified, and supplemented from time to time in accordance with the terms thereof). 

“Term Loan Claim” means any Claim arising under, in connection with, or related to the Term Loan Agreement or any of
the other Credit Documents. 
 “Termination Date” means the date on which this Agreement is terminated in accordance
with Section 13. 
 “TowerBrook” has the meaning set forth in the preamble to this Agreement. 

“Transaction Expenses” means all reasonable fees, costs and expenses of the Consenting Stakeholders’ Advisors
incurred in connection with the negotiation, formulation, preparation, execution, delivery, implementation, consummation, and/or enforcement of this Agreement and/or any of the other Definitive Documents, and/or the transactions contemplated hereby
or thereby, and/or any amendments, waivers, consents, supplements, or other modifications to any of the foregoing; provided that such reasonable fees, costs and expenses of the Consenting Shareholders’ Advisors shall not be considered
“Transaction Expenses” to the extent that (a) the Consenting Lenders terminate this Agreement (due to a breach by the Consenting Shareholders) pursuant to Section 13.01(a), (b) the Company Parties terminate this Agreement
pursuant to Section 13.02(a) or (c) the Consenting Shareholders terminate this Agreement for any reason pursuant to Section 13.03; provided, further, that the fees, costs and expenses of the Consenting Shareholders’
Advisors shall not exceed (a) $4,250,000 in connection with the Out-of-Court Restructuring, and (b) $2,500,000 in connection with the In-Court Restructuring. 

“Transfer” means to sell, resell, reallocate, use, pledge, assign, transfer, loan, grant, hypothecate, participate,
donate, or otherwise encumber or dispose of, directly or indirectly (including through derivatives, options, swaps, pledges, forward sales, or other transactions). 

1.02. Interpretation. For purposes of this Agreement: 

(a) in the appropriate context, each term, whether stated in the singular or the plural, shall include both the singular and the plural, and
pronouns stated in the masculine, feminine, or neuter gender shall include the masculine, feminine, and the neuter gender; 

  
 9 

 (b) capitalized terms defined only in the plural or singular form shall nonetheless have
their defined meanings when used in the opposite form; 
 (c) unless otherwise specified, any reference herein to a contract, lease,
instrument, release, indenture, or other agreement or document being in a particular form or on particular terms and conditions means that such document shall be substantially in such form or substantially on such terms and conditions; 

(d) unless otherwise specified, any reference herein to an existing document, schedule, or exhibit shall mean such document, schedule, or
exhibit, as it may have been or may be amended, restated, supplemented, or otherwise modified from time to time; provided that any capitalized terms herein which are defined with reference to another agreement, are defined with reference to
such other agreement as of the date of this Agreement, without giving effect to any termination of such other agreement or amendments to such capitalized terms in any such other agreement following the date hereof; 

(e) unless otherwise specified, all references herein to “Sections” are references to Sections of this Agreement; 

(f) the words “herein,” “hereof,” and “hereto” refer to this Agreement in its entirety rather than to any
particular portion of this Agreement; 
 (g) captions and headings to Sections are inserted for convenience of reference only and are not
intended to be a part of or to affect the interpretation of this Agreement; 
 (h) references to “shareholders,”
“directors,” and/or “officers” shall also include “members” and/or “managers,” as applicable, as such terms are defined under the applicable limited liability company Laws; 

(i) the use of “include” or “including” is without limitation, whether stated or not; and 

(j) (A) the phrase “counsel to the Consenting Stakeholders” refers in this Agreement to each counsel specified in Sections
15.10(b) and 15.10(c), (B) the phrase “counsel to the Consenting Lenders” refers in this Agreement to counsel specified in Section 15.10(b), and (c) the phrase “counsel to the Consenting
Shareholders” refers in this Agreement to counsel specified in Section 15.10(c). 
 Section 2.
Effectiveness of this Agreement. This Agreement shall become effective and binding upon each of the Parties that has executed and delivered counterpart signature pages to this Agreement at 12:00 a.m., prevailing Eastern
Standard Time, on the Agreement Effective Date, which is the date on which all of the following conditions have been satisfied or waived in accordance with this Agreement: 

(a) each of the Company Parties shall have executed and delivered counterpart signature pages of this Agreement to counsel to each of the
Parties specified in Section 15.10; 

  
 10 

 (b) the following shall have executed and delivered counterpart signature pages of this
Agreement to counsel to each of the Parties specified in Section 15.10: 
 (i) holders of at least 66.67% of the aggregate outstanding
principal amount of Term Loans; and 
 (ii) the Consenting Shareholders; and 

(c) the Company Parties shall have paid all accrued and unpaid Transaction Expenses to the applicable Consenting Lenders’ Advisors by wire
transfer in immediately available funds in accordance with instructions provided to the Company Parties by the applicable Consenting Lenders’ Advisors. 

Section 3. Definitive Documents. 

3.01. The Definitive Documents governing the Restructuring Transactions shall include this Agreement and all other agreements, instruments,
pleadings, orders, forms, questionnaires and other documents (including all exhibits, schedules, supplements, appendices, annexes, instructions and attachments thereto) that are utilized to implement or effectuate, or that otherwise relate to, the
Restructuring Transactions, including each of the following: 
 (a) in connection with an implementation of the Restructuring Transactions
through the Out-of-Court Restructuring: 
 (i) the Out-of-Court Release; 
 (ii) documentation necessary to consummate
the Term Loan Amendment and Waiver, including an amendment of the Existing Term Loan Agreement, as reasonably determined by the Required Parties; 

(iii) documentation necessary to consummate the Purchase Offer (as defined in the Out-of-Court Term Sheet), as reasonably determined by the Required Parties; 
 (iv) documentation
reasonably necessary to consummate the Priming Facility (as defined in the Out-of-Court Term Sheet), as reasonably determined by the Required Parties; 

(v) documentation necessary to consummate the Junior Facility (as defined in the Out-of-Court Term Sheet), as reasonably determined by the Required Parties; 
 (vi) the Sponsor
Investment Warrants (as defined in the Out-of-Court Term Sheet); and 

(vii) the Term Loan Intercreditor Agreement, the Junior Intercreditor Agreement and the A&R ABL Intercreditor Agreement (each as defined in
the Out-of-Court Term Sheet). 
 (b) in connection with a
potential implementation of the Restructuring Transactions through the In-Court Restructuring: 
 (i)
the First Day Pleadings and all orders sought pursuant thereto; 
 (ii) the Plan, including the
In-Court Release; 

  
 11 

 (iii) the Plan Supplement; 

(iv) the DIP Documents; 
 (v) the
Exit Facilities Documents; 
 (vi) the New Organizational Documents, including the Shareholders Agreement, if any; 

(vii) the Disclosure Statement and any related Solicitation Materials; 

(viii) the Disclosure Statement Order; and 

(ix) the Confirmation Order. 

3.02. Each of the Definitive Documents not executed or in a form attached to this Agreement as of the Execution Date remains subject to
negotiation and completion. Upon completion, the Definitive Documents and every other document, deed, agreement, filing, notification, letter or instrument related to the Restructuring Transactions shall each contain terms, conditions,
representations, warranties, and covenants consistent with the terms of this Agreement, including, for the avoidance of doubt, the Out-of-Court Term Sheet and the
Chapter 11 Term Sheet, as they may be modified, amended, or supplemented in accordance with Section 14. Further, the Definitive Documents not executed or in a form attached to this Agreement as of the Execution Date shall otherwise each be in
form and substance reasonably acceptable to the Required Consenting Lenders and the Company Parties; provided, that the Definitive Documents in connection with the
Out-of-Court Restructuring shall also be reasonably acceptable to the Consenting Shareholders; provided, further, that (a) the
In-Court Release and (b) any other term of the Definitive Documents in connection with the In-Court Restructuring, but solely to the extent that such term
materially and adversely impacts the treatment of the Consenting Shareholders shall also be reasonably acceptable to the Consenting Shareholders (subsections (a) and (b) of the foregoing, collectively, the “Consenting
Shareholders’ In-Court Consent Right”).  

Section 4. Milestones. On and after the Agreement Effective Date, the Parties shall implement the Restructuring
Transactions in accordance with the following milestones (the “Milestones”), unless extended or waived in writing (which may be by electronic mail) by the Company Parties, the Required Consenting Lenders and, solely with
respect to subsections (a), (b)(i), and (b)(vi) below (the “Sponsor Milestones”), the Consenting Shareholders, each in their sole discretion: 

(a) To the extent the Restructuring Transactions are to be implemented on an
out-of-court basis through the Out-of-Court Restructuring, cause the Out-of-Court Restructuring Effective Date to occur no later than the Out-of-Court Restructuring
Outside Date. 
 (b) If the Consent Threshold has not been satisfied (as mutually determined by the Required Parties), extended or waived by
the Required Parties on or prior to the Out-of-Court Toggle Date, the Restructuring Transactions shall be implemented on an
in-court basis through the In-Court Restructuring and the Company Parties shall comply with each of the following milestones: 

(i) no later than fourteen (14) days after the
Out-of-Court Toggle Date, to the extent the Consent Threshold has not been obtained or (ii) the
Out-of-Court Restructuring Outside Date if the Out-of-Court Restructuring Effective Date
has not occurred, commence solicitation of the Plan; 

  
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 (ii) no later than the date which is the later of (A) September 25, 2020 or
(B) fourteen (14) days after commencement of the solicitation of the Plan, the Company Parties shall conclude the solicitation of the Plan; 

(iii) no later than the date which is the later of (A) October 3, 2020 or (B) one (1) Business Day after concluding the
solicitation of the Plan, the Petition Date shall have occurred (and, for the avoidance of doubt, on such Petition Date, the Company Parties shall have filed with the Bankruptcy Court the Plan, the Disclosure Statement and other Solicitation
Materials, and a motion scheduling a combined hearing on the Plan and Disclosure Statement and other Solicitation Materials); 
 (iv) within
five (5) Business Days after the Petition Date, the Company Parties shall have filed with the Bankruptcy Court the Plan Supplement; 

(v) within fourteen (14) days after the Petition Date, the Confirmation Order and all other related relief required to be obtained from
the Bankruptcy Court to implement the Restructuring Transactions through the In-Court Restructuring shall have been entered and/or granted, as applicable, by the Bankruptcy Court; and 

(vi) the Plan Effective Date shall have occurred within thirty (30) calendar days after the Petition Date (the “In-Court Restructuring Outside Date”). 
 Section 5. Commitments of the
Consenting Lenders.  
 5.01. General Commitments, Forbearances, and Waivers.  

(a) During the Agreement Effective Period, each Consenting Lender agrees, severally, and not jointly, in respect of all of its Company
Claims/Interests, to: 
 (i) (A) use commercially reasonable efforts and timely take all reasonable actions necessary to support, implement
and consummate the Out-of-Court-Restructuring, and (B) to the extent the Consent Threshold has not been obtained by the Out-of-Court Toggle Date or the other conditions of the Out-of-Court Restructuring have not been satisfied so as to permit
consummation of the Out-of-Court Restructuring prior to the Out-of-Court Restructuring
Outside Date, timely take all reasonable actions necessary to support, implement and consummate the In-Court Restructuring, including (as applicable) (1) consent to the amendments to the Term Loan
Agreement and participate in the exchange of the existing Term Loans into the New Term Loans, and (2) vote all Company Claims/Interests owned or held by such Consenting Lender and exercise any powers or rights available to it (including in any
board, shareholders’, or creditors’ meeting or in any process requiring voting or approval to which they are legally entitled to participate), in each case in favor of any matter requiring approval to the extent necessary to implement the
Restructuring Transactions; provided that no Consenting Lender shall be obligated to waive (to the extent waivable by such Consenting Lender) any condition to the consummation of any part of the Restructuring Transactions set forth in any
Definitive Document; 

  
 13 

 (ii) use commercially reasonable efforts to cooperate with and assist the Company Parties in
obtaining additional support for the Restructuring Transactions from the Company Parties’ other stakeholders; 
 (iii) use commercially
reasonable efforts to oppose any Person from taking any actions contemplated in Section 5.02(b); 
 (iv) give any notice, order,
instruction, or direction to the applicable Term Loan Agent necessary to give effect to the Restructuring Transactions; provided, that such Consenting Lender shall not be required to provide such Term Loan Agent or any other Person with any
indemnities or similar undertakings in connection with taking any such action; and 
 (v) negotiate in good faith and use commercially
reasonable efforts to execute, deliver, perform its obligations under, implement, and consummate the transactions contemplated by the Definitive Documents that are consistent with this Agreement to which it is required to be a party. 

(b) During the Agreement Effective Period, each Consenting Lender agrees, severally, and not jointly, in respect of all of its Company
Claims/Interests, that it shall not directly or indirectly: 
 (i) object to, delay, impede, or take any other action to interfere with
acceptance, implementation, or consummation of the Restructuring Transactions; 
 (ii) propose, file, support or vote for any Alternative
Restructuring; 
 (iii) file any motion, pleading, or other document with the Bankruptcy Court or any other court (including any
modifications or amendments thereof) that, in whole or in part, is not materially consistent with this Agreement or the Plan; 
 (iv)
initiate, or have initiated on its behalf, any litigation or proceeding of any kind with respect to the Chapter 11 Cases, this Agreement, or the other Restructuring Transactions contemplated herein against the Company Parties or the other Parties
other than to enforce this Agreement or any Definitive Document or as otherwise permitted under this Agreement; 
 (v) exercise, or direct
any other Person to exercise, any right or remedy for the enforcement, collection, or recovery of any Claims against or Interests in the Company Parties; or 

(vi) object to, delay, impede, or take any other action to interfere with the Company Parties’ ownership and possession of their assets,
wherever located, or interfere with the automatic stay arising under section 362 of the Bankruptcy Code. 

  
 14 

 5.02. Commitments with Respect to Chapter 11 Cases 

(a) During the Agreement Effective Period, each Consenting Lender agrees that it shall, severally and not jointly, subject to receipt by such
Consenting Lender, whether before or after the commencement of the Chapter 11 Cases, of the Solicitation Materials: 
 (i) vote each of its
Company Claims/Interests to accept the Plan by delivering its duly executed and completed ballot accepting the Plan on a timely basis following the commencement of the solicitation of the Plan and its actual receipt of the Solicitation Materials and
the ballot; 
 (ii) to the extent it is permitted to elect whether to opt out of the releases set forth in the Plan, elect not to opt out of
the releases set forth in the Plan by timely delivering its duly executed and completed ballot(s) indicating such election; and 
 (iii) not
change, withdraw, amend, or revoke (or cause to be changed, withdrawn, amended, or revoked) any vote or election referred to in clauses (i) and (ii) above; provided, however, that such vote or election may be changed, withdrawn,
amended or revoked (and, upon such change, withdrawal, amendment or revocation, deemed void ab initio) by such Consenting Lender at any time following the expiration or termination of the Agreement Effective Period with respect to such
Consenting Lender (it being understood that any termination of the Agreement Effective Period with respect to a Consenting Lender shall entitle such Consenting Lender to change its vote in accordance with section 1127(d) of the Bankruptcy Code, and
the Solicitation Materials with respect to the Plan shall be consistent with this proviso). 
 (b) During the Agreement Effective Period,
each Consenting Lender, in respect of each of its Company Claims/Interests, will support, and will not directly or indirectly object to, delay, impede, or take any other action to interfere with any motion or other pleading or document filed by a
Company Party in the Bankruptcy Court that is consistent with this Agreement. 
 Section 6. Commitments of the Consenting Shareholders.
 
 (a) During the Agreement Effective Period, the Consenting Shareholders agree, in respect of all of its Company
Claims/Interests, to: 
 (i) (A) use commercially reasonable efforts and timely take all reasonable actions necessary to support, implement
and consummate the Out-of-Court-Restructuring, and (B) to the extent the Consent Threshold has not been obtained by the Out-of-Court Toggle Date or the other conditions of the Out-of-Court Restructuring have not been satisfied so as to permit
consummation of the Out-of-Court Restructuring prior to the Out-of-Court Restructuring
Outside Date, timely take all reasonable actions necessary to support, implement and consummate the In-Court Restructuring, including vote all Company Claims/Interests owned or held by the Consenting
Shareholders and exercise any powers or rights available to it (including in any shareholders’ meeting or in any process requiring voting or approval to which they are legally entitled to participate), in each case in favor of any matter
requiring approval to the extent necessary to implement the Restructuring Transactions; provided that the Consenting Shareholders shall not be obligated to waive any condition to the consummation of any part of the Restructuring Transactions
set forth in any Definitive Document; and 

  
 15 

 (ii) negotiate in good faith and use commercially reasonable efforts to execute, deliver,
perform its obligations under, and consummate the transactions contemplated by the Definitive Documents to the extent applicable to the Consenting Shareholders. 

(b) During the Agreement Effective Period, the Consenting Shareholders agree, in respect of their Company Claims/Interests, that they shall not
directly or indirectly: 
 (i) object to, delay, impede, or take any other action to interfere with acceptance, implementation, or
consummation of the Restructuring Transactions; 
 (ii) except as expressly provided in this Agreement, propose, file, support or vote for
any Alternative Restructuring; 
 (iii) file any motion, pleading, or other document with the Bankruptcy Court or any other court (including
any modifications or amendments thereof) that, in whole or in part, is not consistent in all material respects with this Agreement or the Plan; 

(iv) initiate, or have initiated on its behalf, any litigation or proceeding of any kind with respect to the Chapter 11 Cases, this Agreement,
or the other Restructuring Transactions contemplated herein against the Company Parties or the other Parties other than to enforce this Agreement or any Definitive Document or as otherwise permitted under this Agreement; 

(v) exercise, or direct any other Person to exercise, any right or remedy for the enforcement, collection, or recovery of any Claims against or
Interests in the Company Parties; or 
 (vi) object to, delay, impede, or take any other action to interfere with the Company Parties’
ownership and possession of their assets, wherever located, or interfere with the automatic stay arising under section 362 of the Bankruptcy Code. 

Section 7. Additional Provisions Regarding the Consenting Stakeholders’ Commitments.
Notwithstanding anything contained in this Agreement, nothing in this Agreement shall: (a) affect the ability of any Consenting Stakeholder to consult with any other Consenting Stakeholder, the Company Parties, or any other party in
interest in the Chapter 11 Cases (including any official committee and the United States Trustee); (b) impair or waive the rights of any Consenting Stakeholder to assert or raise any objection permitted under this Agreement in connection with the
Restructuring Transactions; (c) prevent any Consenting Stakeholder from enforcing this Agreement or contesting whether any matter, fact, or thing is a breach of, or is inconsistent with, this Agreement; (d) limit the rights of a Consenting
Stakeholder under the Chapter 11 Cases, including appearing as a party in interest in any matter to be adjudicated in order to be heard concerning any matter arising in the Chapter 11 Cases, in each case, so long as the exercise of any such
right is not inconsistent with such Consenting Stakeholder’s obligations hereunder; (e) limit the ability of a Consenting Stakeholder to purchase, sell or enter into any transactions regarding the Company Claims/Interests, subject to the
terms hereof (including, for the avoidance of doubt, Section 10), and any applicable agreements governing such Company Claims/Interests; (f) constitute a waiver or amendment of any term or provision of the Term Loan Agreement or any of the
other Credit Documents; (g) constitute a termination or release of any liens on, or security interests in, any of the assets or properties of the Company Parties that secure the obligations under the Term Loan Agreement or any of the other
Credit Documents; or (h) require any Consenting 

  
 16 

 
Stakeholder to incur, assume, become liable in respect of or suffer to exist any expenses, liabilities, or other obligations, or agree to or become bound by any commitments, undertakings,
concessions, indemnities, or other arrangements that could result in expenses, liabilities, or other obligations to such Consenting Stakeholder (except, in the case of any Consenting Lender that is a lender under the DIP Facility or any Exit
Facility, such Consenting Lender’s commitments under such DIP Facility or Exit Facility, respectively). 
 Section 8. Commitments of
the Company Parties. 
 8.01. Affirmative Commitments. Except as set forth in this Section 8, during the Agreement
Effective Period, the Company Parties agree to: 
 (a) (i) use commercially reasonable efforts to support, act in good faith, and take all
reasonable actions necessary, or reasonably requested by the applicable Required Consenting Stakeholders, to implement and consummate the Restructuring Transactions through the
Out-of-Court Restructuring within the Out-of-Court Restructuring Period as contemplated
by this Agreement and the Out-of-Court Term Sheet (including using commercially reasonable efforts to satisfy the conditions to the Out-of-Court Restructuring); (ii) to the extent the Consent Threshold has not been obtained by the Out-of-Court Toggle Date, or
the other conditions of the Out-of-Court Restructuring have not been satisfied so as to permit consummation of the Out-of-Court Restructuring prior to the Out-of-Court Restructuring Outside Date (as determined in good faith by the Company and
the Required Consenting Stakeholders), timely take all reasonable actions necessary to support, implement and consummate the Restructuring Transactions through the In-Court Restructuring, including promptly
commencing solicitation on the Plan pursuant to the Disclosure Statement and related Solicitation Materials and thereafter commencing Chapter 11 Cases in order to implement the Plan; and (iii) in the event the Chapter 11 Cases are commenced,
obtaining the Bankruptcy Court’s approval of the Definitive Documents (as applicable), the solicitation on the Plan by means of the Disclosure Statement and related Solicitation Materials, confirmation of the Plan, and the consummation of the
Restructuring Transactions pursuant to the Plan; 
 (b) to the extent any legal or structural impediment arises that would prevent, hinder,
or delay the consummation of the Restructuring Transactions contemplated herein, take all steps reasonably necessary or requested by the Required Consenting Lenders to address any such impediment, including, if the Restructuring Transactions are
implemented through the In-Court Restructuring: (i) timely filing a formal objection to any motion filed with the Bankruptcy Court by any Person seeking the entry of an order (A) directing the
appointment of an examiner with expanded powers or a trustee, (B) converting any of the Chapter 11 Cases to a case under chapter 7 of the Bankruptcy Code, (C) dismissing the Chapter 11 Cases, (D) approving an Alternative
Restructuring, or (E) for relief that (x) is inconsistent with this Agreement in any material respect, or (y) would, or would reasonably be expected to, frustrate the purposes of this Agreement, including by preventing the
consummation of the Restructuring Transactions; (ii) timely filing a formal objection to any motion filed with the Bankruptcy Court by any Person seeking the entry of an order modifying or terminating any Debtor’s exclusive right to file
and/or solicit acceptances of a plan of reorganization; (iii) timely filing a formal objection to any motion, application or proceeding challenging (A) the amount, validity, allowance, character, enforceability, or priority of any Company
Claims/Interests of any of the Consenting Lenders, or (B) the validity, 

  
 17 

 
enforceability or perfection of any lien or other encumbrance securing any Company Claims/Interests of any of the Consenting Lenders; (iv) timely filing a formal objection to any motion,
application, or proceeding filed with the Bankruptcy Court seeking standing to pursue claims or causes of action of the Debtors against any Consenting Stakeholder or any director, manager, officer or employee of, or lender to, or any consultant or
advisor that is retained or engaged by, any of the Consenting Stakeholders; and (v) timely filing a formal written response in opposition to any objection filed with the Bankruptcy Court by any Person with respect to the DIP Facility (or motion
filed by such Person that seeks to interfere with the DIP Facility) or any proposed adequate protection to the Consenting Lenders pursuant to the Interim DIP Order, the Final DIP Order, or otherwise; 

(c) use commercially reasonable efforts to obtain any and all Permits, Consents, and third-party approvals that are necessary and/or advisable
for the implementation or consummation of any part of the Restructuring Transactions; 
 (d) negotiate in good faith and use commercially
reasonable efforts to execute, deliver, perform their obligations under, and consummate the transactions contemplated by this Agreement; the Definitive Documents, and any other required agreements to effectuate; 

(e) use commercially reasonable efforts to seek additional support for the Restructuring Transactions from their other material stakeholders;

 (f) (i) complete the preparation, (A) as soon as practicable after the Agreement Effective Date, of each of the Definitive Documents
necessary to implement the Out-of-Court Restructuring under Section 3.01(a) and (B) as soon as practicable after the Out-of-Court Toggle Date, of each of the Definitive Documents necessary to implement the Chapter 11 Cases under Section 3.01(b) (including all motions, applications, orders, agreements, and other
documents, each of which, for the avoidance of doubt, shall contain terms and conditions consistent in all material respects with this Agreement and shall otherwise be in form and substance reasonably acceptable to the Required Consenting Lenders
and, solely to the extent of the Consenting Shareholders’ In-Court Consent Right, the Consenting Shareholders), (ii) provide each of the Definitive Documents to, and afford reasonable opportunity for
comment and review of each of the Definitive Documents by, counsel to the applicable Consenting Stakeholders no less than three (3) Business Days in advance of any filing, execution, distribution, or use (as applicable) thereof, and
(iii) consult in good faith with the Consenting Lenders’ Advisors and, solely to the extent applicable in connection with the Consenting Shareholders’ In-Court Consent Right, the Consenting
Shareholders’ Advisors regarding the form and substance of the applicable Definitive Documents in advance of the filing, execution, distribution or use (as applicable) thereof; provided, however, that the obligations under this
Section 8.01(f) shall in no way alter or diminish any right expressly provided to any applicable Consenting Stakeholder under this Agreement to review, comment on, and/or consent to the form and/or substance of any document or agreement; 

(g) promptly notify counsel to the Consenting Lenders and the Consenting Shareholders in writing (and in any event within one (1) Business
Day after obtaining knowledge thereof) of (i) the initiation, institution, or commencement of any proceeding by a Governmental Entity or other Person (or communications indicating that the same may be contemplated or threatened) (A)
involving any of the Company Parties (including any assets, Permits, businesses, 

  
 18 

 
operations, or activities of any of the Company Parties) or any of their respective current or former officers, employees, managers, directors, members, or equity holders (in their capacities as
such), or (B) challenging the validity of the transactions contemplated by this Agreement or any other Definitive Document or seeking to enjoin, restrain, or prohibit this Agreement or any other Definitive Document or the consummation of the
transactions contemplated hereby or thereby, (ii) any breach by any of the Company Parties in any respect of any of its obligations, representations, warranties, or covenants set forth in this Agreement, (iii) any Material Adverse Effect,
(iv) the happening or existence of any event that shall have made any of the conditions precedent to any Party’s obligations set forth in (or to be set forth in) any of the Definitive Documents incapable of being satisfied prior to the
applicable Milestones set forth herein, (v) the occurrence of a Termination Event, and/or (vi) the receipt of notice from any Governmental Entity or other Person alleging that the consent of such Person is or may be required under any
Organizational Document, contract, Permit, Law or otherwise in connection with the consummation of any part of the Restructuring Transactions; 

(h) maintain the good standing and legal existence of each Company Party under the Laws of the state in which it is incorporated, organized or
formed, except to the extent the Restructuring Transactions are to be implemented through the In-Court Restructuring and any failure to maintain such Company Party’s good standing arises solely as a
result of the filing of the Chapter 11 Cases; 
 (i) notify counsel to the Consenting Lenders and the Consenting Shareholders of the receipt
of any Alternative Restructuring Proposal by any Company Party, within one (1) Business Day after such receipt, with such notice to include the material terms of such Alternative Restructuring Proposal (including the identity of the Person(s)
involved); 
 (j) provide the Consenting Lenders’ Advisors such information as reasonably necessary to evaluate each of the
Debtors’ executory contracts and unexpired leases, and all ongoing discussions and negotiations related thereto, and assume or reject each executory contract (including any employment agreement or employee benefit plan) and unexpired lease in
consultation with the Required Consenting Lenders; 
 (k) (i) conduct their businesses and operations only in the ordinary course in a manner
that is consistent with past practices and in compliance with Law; provided, however, that if any Company Party reasonably determines in good faith that the operation of its business in the ordinary course is not advisable due to
possible health and safety concerns related to COVID-19, such determination and any actions taken or not taken as a result of such determination that are outside the ordinary course of its business and
inconsistent with its past practices shall not be a breach of this Section 8.01(k) (but such Company Party shall promptly inform the Consenting Lender Advisors of any such determination), (ii) maintain their physical assets, equipment,
properties and facilities in their condition and repair as of the Agreement Effective Date, ordinary wear and tear excepted, (iii) maintain their respective books and records on a basis consistent with prior practice, (iv) maintain all
insurance policies, or suitable replacements therefor, in full force and effect, (v) maintain all of their respective Permits in full force and effect (including by filing all reports, notifications and filings with, and paying all fees to, the
applicable Governmental Entities necessary to maintain all such Permits in full force and effect) and take all action to avoid or eliminate any event, circumstance, event, or occurrence that results, or would reasonably be

  
 19 

 
expected to result, in the lapse, expiration, termination, revocation, suspension or modification of any such Permits or the imposition of any fine, penalty, or other sanctions in connection
therewith, (vi) comply with, perform all of their respective material obligations under, and maintain in full force and effect, each Material Contract [*****] (and taking into account the impact of the COVID-19 pandemic), and (vii) use
reasonable best efforts to preserve intact their business organizations and relationships with third parties (including creditors, lessors, licensors, physicians, suppliers, distributors and customers) and employees (and taking into account the
impact of the COVID-19 pandemic); 
 (l) no later than two (2) Business Days following the Out-of-Court Toggle Date, provided that the necessary consents for the Out-of-Court
Restructuring have not been obtained or have been waived, the board of directors of Holdings shall form a restructuring committee with the exclusive responsibility to, among other things, review, evaluate and implement the strategic alternatives,
including the Restructuring Transactions. The restructuring committee shall consist of three (3) Independent Directors (defined below) who shall be appointed to the Restructuring Committee by the board of directors, and reasonably acceptable to
the Required Consenting Lenders. “Independent Director” shall be defined as a natural person who is a member of the board of directors and, for the five-year period prior to his or her appointment as Independent Director has
not been, and during the continuation of his or her service as Independent Director is not (i) an employee, director, stockholder, partner, officer attorney or counsel of TowerBrook or any of its Affiliates (other than his or her service as an
independent member of a board or other similar capacity); (ii) a customer, supplier or other Person who derives any of its purchases or revenues from its activities with Towerbrook or any of its Affiliates; (iii) a Person controlling or under
common control with any other such Person described above, or (iv) any member of the immediate family of a Person described in subclauses (i), (ii) or (iii); and 

(m) provide the Consenting Stakeholders’ Advisors, and other representatives with (i) reasonable access to (and the right to examine
and make copies of), during regular business hours, (A) the books, work papers, records, and materials of any Company Party, and (B) the personnel and advisors of any Company Party (and such Company Party shall cause such personnel and
advisors to cooperate and work in good faith with such Consenting Stakeholders’ Advisors, and other representatives), in each case, as reasonably requested by such Consenting Stakeholders’ Advisors, or other representatives for purposes of
the Consenting Lenders’ or Consenting Shareholders’ due diligence investigation in respect of the assets, liabilities, operations, businesses, finances, strategies, prospects, and affairs, and (ii) reasonably timely responses to all
diligence requests provided by the Consenting Stakeholders’ Advisors or other representatives to the Company Parties of their advisors. 

8.02. Negative Commitments. Except as set forth in Section 9, and except pursuant to the consummation of the Restructuring
Transactions, during the Agreement Effective Period, each of the Company Parties shall not, without the prior written consent of the Required Consenting Stakeholders, directly or indirectly: 

(a) object to, delay, impede, or take any other action to interfere with acceptance, implementation, or consummation of the Restructuring
Transactions; 

  
 20 

 (b) take any action that is inconsistent in any material respect with, or is intended to
frustrate or impede approval, implementation, and consummation of, the Restructuring Transactions; 
 (c) (i) execute or file any agreement,
instrument, pleading, order, form, or other document that is utilized to implement or effectuate, or that otherwise relates to, this Agreement, the Plan, and/or the Restructuring Transactions that, in whole or in part, is not consistent in all
material respects with this Agreement, the Out-of-Court Term Sheet, or the Chapter 11 Term Sheet, as applicable, or otherwise in form and substance reasonably acceptable
to the Required Consenting Stakeholders, subject to the Consenting Shareholders’ In-Court Consent Right, and (ii) waive, amend, or modify any of the Definitive Documents, or file a pleading seeking
to waive, amend, or modify any term or condition of any of the Definitive Documents, which waiver, amendment, modification, or filing contains any provision that is not consistent in all material respects with this Agreement, the Out-of-Court Term Sheet, or the Chapter 11 Term Sheet, as applicable, or otherwise reasonably acceptable to the Required Consenting Stakeholders, subject to the Consenting
Shareholders’ In-Court Consent Right; 
 (d) to the extent the Restructuring Transactions are to
be implemented through the In-Court Restructuring, move for an order from the Bankruptcy Court authorizing or directing the assumption or rejection of any executory contract (including any employment agreement
or employee benefit plan) or unexpired lease, other than any assumption or rejection that (i) is done with the advance written consent of the Required Consenting Lenders, or (ii) is expressly contemplated by the Plan; 

(e) (i) seek discovery in connection with, prepare, or commence any proceeding or other action that challenges (A) the amount, validity,
allowance, character, enforceability, or priority of any Company Claims/Interests of any of the Consenting Stakeholders, or (B) the validity, enforceability, or perfection of any lien or other encumbrance securing any Company Claims/Interests
of any of the Consenting Lenders, (ii) otherwise seek to restrict any rights of any of the Consenting Stakeholders, or (iii) support any Person in connection with any of the acts described in clause (i) or clause (ii) of this
Section 8.02(e); 
 (f) enter into any contract with respect to
debtor-in-possession financing, cash collateral usage, exit financing, and/or other financing arrangements, other than as contemplated under the Chapter 11 Term Sheet;

 (g) (i) enter into any contract which, if existing as of the Execution Date, would constitute a Material Contract had it been entered into
prior to the Execution Date, (ii) amend, supplement, modify, or terminate any Material Contract, or (iii) allow or permit any Material Contract to expire; 

(h) in connection with an implementation or potential implementation of the Restructuring Transactions through the In-Court Restructuring, assert, or support any assertion by any Person, that, in order to act on the provisions of Section 13, the Consenting Lenders shall be required to obtain relief from the automatic stay
from the Bankruptcy Court (and each of the Company Parties hereby waives, to the greatest extent possible, the applicability of the automatic stay to the giving of any notice of termination in accordance with Section 13); 

  
 21 

 (i) allow or permit any of their respective Permits to lapse, expire, terminate or be
revoked, suspended or modified, or to suffer any fine, penalty or other sanctions related to any of their respective Permits; 
 (j) grant or
agree to grant (including pursuant to a key employee retention or incentive plan or other similar agreement or arrangement) any additional, or any increase in the, wages, salary, bonus, commissions, retirement benefits, pension, severance, or other
compensation or benefits (including in the form of any vested or unvested Equity Interests of any kind or nature) of any director, manager, officer, or employee of, or any consultant or advisor that is retained or engaged by, any of the Company
Parties, except in the ordinary course of business; 
 (k) enter into, adopt or establish any new compensation or benefit plans or
arrangements (including employment agreements and any retention, success or other bonus plans), or amend or terminate any existing compensation or benefit plans or arrangements (including employment agreements); 

(l) make or change any tax election (including, with respect to any Debtor that is treated as a partnership or disregarded entity for U.S.
federal income tax purposes, an election to be treated as a corporation for U.S. federal income tax purposes), file any amended tax return, enter into any closing agreement with respect to taxes, consent to any extension or waiver of the limitations
period applicable to any tax claim or assessment, enter into any installment sale transaction, adopt or change any accounting methods, practices, or periods for tax purposes, make or request any tax ruling, enter into any tax sharing or similar
agreement or arrangement, or settle any tax claim or assessment; 
 (m) take or permit any action that would result in a
(i) disaffiliation of any Company Party from the Company Parties’ consolidated income tax group under Section 1502 of the Code, or (ii) realization of any taxable income outside the ordinary course of the Company Parties’
business; 
 (n) amend any of their respective Organizational Documents in a manner that is materially inconsistent with this Agreement or
the Plan; 
 (o) authorize, create, or issue any additional Equity Interests in any of the Company Parties, or redeem, purchase, acquire,
declare any distribution on, or make any distribution on any Equity Interests in any of the Company Parties; 
 (p) if the Restructuring
Transactions are to be implemented through the In-Court Restructuring, pay, or agree to pay, any indebtedness, liabilities or other obligations (including any accounts payable or trade payable) that existed
prior to the Petition Date, unless the Bankruptcy Court authorizes the Debtors to pay such indebtedness, liabilities, or other obligations (including any accounts payable or trade payable) pursuant to the relief granted in connection with the First
Day Pleadings; 
 (q) seek, solicit, support, encourage, propose, assist, consent to, or vote for, enter or participate in any negotiations
or any agreement with any Person regarding, pursue or consummate, any Alternative Restructuring; 

  
 22 

 (r) announce publicly their intention not to support the Restructuring Transactions; or 

(s) consummate the Restructuring Transactions unless each of the conditions to the consummation of such transactions set forth in this
Agreement, the Out-of-Court Term Sheet, and/or the Disclosure Statement has been satisfied (or waived by the applicable Required Consenting Stakeholders in their sole
discretion). 
 Section 9. Additional Provisions Regarding Company Parties’
Commitments. 
 9.01. Notwithstanding anything to the contrary in this Agreement, and subject to
Section 13.02(c), nothing in this Agreement shall require a Company Party or the board of directors, board of managers, or similar governing body of a Company Party, including any director, manager, or officer of a Company Party that is an
employee, representative, or agent of any Consenting Shareholders, to take or refrain from taking any action pursuant to this Agreement (including, without limitation, terminating this Agreement pursuant to Section 13.02 hereof, to the extent
the board of directors or mangers reasonably determines in good faith, based on the advice of external counsel (including counsel to the Company), that taking, or such action, as applicable, would be inconsistent with its fiduciary obligations or
applicable Law, and any such action or inaction pursuant to such exercise of fiduciary duties shall not be deemed to constitute a breach of this Agreement. The Company shall promptly notify each of the Consenting Creditor Parties of any such
determination (and in any event within two (2) business days following such determination). 
 9.02. Notwithstanding anything to the
contrary in this Agreement, each Company Party and its directors, officers, employees, investment bankers, attorneys, accountants, consultants, and other advisors or representatives shall have the rights to: (a) consider, respond to, discuss,
and negotiate unsolicited Alternative Restructuring Proposals; (b) provide access to non-public information concerning any Company Party to any Entity that (i) provides an unsolicited Alternative
Restructuring Proposal, (ii) executed and delivers a Confidentiality Agreement, which shall be in form and substance reasonably acceptable to the Required Consenting Lenders, and (iii) requests such information; and (c) enter into or
continue discussions or negotiations with holders of Claims against or Equity Interests in a Company Party (including any Consenting Lender), any other party in interest in the Chapter 11 Cases (including any official committee and the United States
Trustee), or any other Entity regarding the Restructuring Transactions. At all times prior to the date on which the Company Parties enter into a definitive agreement with respect to an Alternative Restructuring, the Company Parties shall inform
counsel to the Consenting Lenders and the Consenting Shareholders regarding (A) any discussions and/or negotiations relating to any such Alternative Restructuring and/or (B) any amendments, modifications or other changes to, or any further
developments of, any such Alternative Restructuring, in any such case as is necessary to keep such counsel contemporaneously informed as to the status and substance of such discussions, negotiations, amendments, modifications, changes and/or
developments. 
 9.03. Nothing in this Agreement shall: (a) impair or waive the rights of any Company Party to assert or raise any
objection permitted under this Agreement in connection with the Restructuring Transactions; or (b) prevent any Company Party from enforcing this Agreement or contesting whether any matter, fact, or thing is a breach of, or is inconsistent with,
this Agreement. 

  
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 Section 10. Transfer of Interests and Securities. 

10.01. During the Agreement Effective Period, no Consenting Stakeholder shall Transfer any ownership (including any beneficial ownership as
defined in the Rule 13d-3 under the Exchange Act) in any Company Claims/Interests to any affiliated or unaffiliated party, including any party in which it may hold a direct or indirect beneficial interest,
unless either (i) the transferee executes and delivers to counsel to the Company Parties and counsel to the Consenting Stakeholders, at or before the time of the proposed Transfer, a Joinder or (ii) the transferee is a Consenting
Stakeholder and the transferee provides notice of such Transfer (including the amount and type of Company Claim/Interests Transferred) to counsel to the Company Parties and counsel to the applicable Consenting Stakeholders at or before the time of
the proposed Transfer. 
 10.02. Upon compliance with the requirements of Section 10.01, the transferee shall be deemed a Consenting
Stakeholder, as applicable, and the transferor shall be deemed to relinquish its rights (and be released from its obligations) under this Agreement to the extent of the rights and obligations in respect of such transferred Company Claims/Interests.
Any Transfer in violation of Section 10.01 above shall be void ab initio. 
 10.03. This Agreement shall in no way be construed to
preclude the Consenting Stakeholders from acquiring additional Company Claims/Interests; provided, however, that (a) such additional Company Claims/Interests shall automatically and immediately upon acquisition by a Consenting
Stakeholder be deemed subject to the terms of this Agreement (regardless of when or whether notice of such acquisition is given to counsel to the Company Parties or counsel to the Consenting Stakeholders) and (b) such Consenting Stakeholder
must provide notice of such acquisition (including the amount and type of Company Claims/Interests acquired) to counsel to the Company Parties and counsel to the applicable Consenting Stakeholders within five (5) Business Days of such
acquisition. 
 10.04. Notwithstanding Section 10.01, a Qualified Marketmaker that acquires any Company Claims/Interests with the
purpose and intent of acting as a Qualified Marketmaker for such Company Claims/Interests shall not be required to execute and deliver a Joinder in respect of such Company Claims/Interests if (i) such Qualified Marketmaker subsequently
transfers such Company Claims/Interests (by purchase, sale, assignment, participation, or otherwise) within ten (10) Business Days of its acquisition to a transferee that is an entity that is not an affiliate, affiliated fund, or affiliated
entity with a common investment advisor; (ii) the transferee otherwise is a Permitted Transferee under Section 10.01; and (iii) the Transfer otherwise is permitted under Section 10.01. To the extent that a Consenting Lender is
acting in its capacity as a Qualified Marketmaker, it may Transfer (by purchase, sale, assignment, participation, or otherwise) any right, title, or interests in Company Claims/Interests that the Qualified Marketmaker acquires from a holder of the
Company Claims/Interests who is not a Consenting Stakeholder without the requirement that the transferee be a Permitted Transferee. 
 10.05.
Notwithstanding the foregoing provisions of this Section 10, in no event shall TowerBrook directly or indirectly Transfer all or any portion of its Equity Interests in any Company Party without the prior written consent of the Required
Consenting Lenders and the Company Parties. 

  
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 10.06. Notwithstanding anything to the contrary in this Section 10, the restrictions on
Transfer set forth in this Section 10 shall not apply to the grant of any liens or encumbrances on any Company Claims/Interests in favor of a bank or broker-dealer holding custody of such Company Claims/Interests in the ordinary course of
business and which lien or encumbrance is released upon the Transfer of such Company Claims/Interests. 
 Section 11.
Representations and Warranties of Consenting Stakeholders. Each Consenting Stakeholder severally, and not jointly, represents and warrants that, as of the date such Consenting Stakeholder executes and delivers this
Agreement or, in the case of a Consenting Lender, a Joinder, as applicable: 
 (a) it is the beneficial or record owner of the face amount of
the Company Claims/Interests or is the nominee, investment manager, or advisor for beneficial holders of the Company Claims/Interests reflected in, and, having made reasonable inquiry, is not the beneficial or record owner of any Company
Claims/Interests other than those reflected in, such Consenting Stakeholder’s signature page to this Agreement or, in the case of a Consenting Lender, a Joinder, as applicable; 

(b) it has the full power and authority to act on behalf of, vote and consent to matters concerning, such Company Claims/Interests; 

(c) such Company Claims/Interests are free and clear of any pledge, lien, security interest, charge, claim, equity, option, proxy, voting
restriction, right of first refusal, or other limitation on disposition, transfer, or encumbrances of any kind, that would adversely affect in any way such Consenting Stakeholder’s ability to perform any of its obligations under this Agreement
at the time such obligations are required to be performed; 
 (d) it has the full power to vote, approve changes to, and transfer all of its
Company Claims/Interests as contemplated by this Agreement subject to applicable Law; 
 (e) such Consenting Stakeholder has made no prior
assignment, sale, participation, grant, conveyance, or other Transfer of, and has not entered into any agreement to assign, sell, participate, grant, convey, or otherwise Transfer, in whole or in part, any portion of its rights, title, or interest
in any Company Claims/Interests that is inconsistent with the representations and warranties of such Consenting Stakeholder herein or would render such Consenting Stakeholder otherwise unable to comply with this Agreement and perform its obligations
hereunder; and 
 (f) solely with respect to holders of Company Claims/Interests, (i) it is either (A) a qualified institutional
buyer as defined in Rule 144A of the Securities Act, (B) not a U.S. person (as defined in Regulation S of the Securities Act), or (C) an institutional “accredited investor” (as defined by Rule 501 of the Securities Act), and
(ii) any securities acquired by such Consenting Stakeholder in connection with the Restructuring Transactions will have been acquired for investment and not with a view to distribution or resale in violation of the Securities Act; 

provided, however it is understood and agreed that the representations and warranties made by a Consenting Lender that is an investment manager,
advisor, or subadvisor of a beneficial owner of Company Claims/Interests are made with respect to, and on behalf of, such beneficial owner and not such investment manager, advisor, or subadvisor, and, if applicable, are made severally (and not
jointly) with respect to the investment funds, accounts, and other investment vehicles managed by such investment manager, advisor, or subadvisor. 

  
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 Section 12. Mutual Representations, Warranties, and Covenants. Each
of (i) the Company Parties, jointly and severally, and (ii) the Consenting Stakeholders, severally and not jointly, represents, warrants, and covenants to each other Party, as of the date such Party executes and delivers this Agreement or,
in the case of a Consenting Lender, a Joinder, as applicable: 
 (a) it is validly existing and in good standing under the Laws of the state
of its organization, and this Agreement is a legal, valid, and binding obligation of such Party, enforceable against it in accordance with its terms, except as enforcement may be limited by applicable Laws relating to or limiting creditors’
rights generally or by equitable principles relating to enforceability; 
 (b) except as expressly provided in this Agreement, the Plan, and
the Bankruptcy Code, no consent or approval is required by any other Person in order for it to effectuate the Restructuring Transactions contemplated by, and perform its respective obligations under, this Agreement; 

(c) the entry into and performance by it of, and the transactions contemplated by, this Agreement do not, and will not, conflict in any
material respect with any Law or regulation applicable to it or with any of its Organizational Documents; 
 (d) it is not currently engaged
in any discussions, negotiations or other arrangements with respect to any Alternative Restructuring Proposal or Alternative Restructuring; 

(e) except as expressly provided in this Agreement, it has (or will have, at the relevant time) all requisite corporate or other power and
authority to enter into, execute, and deliver this Agreement and to effectuate the Restructuring Transactions contemplated by, and perform its respective obligations under, this Agreement; and 

(f) except as expressly provided by this Agreement, it is not party to any restructuring or similar agreements or arrangements with the other
Parties to this Agreement that have not been disclosed to all Parties to this Agreement. 
 Section 13. Termination Events.

 13.01. Consenting Lender Termination Events. This Agreement may be terminated with respect to all Parties (unless otherwise set
forth in this Section 13.01) by the Required Consenting Lenders, by the delivery to counsel to the Company Parties and counsel to the Consenting Shareholders of a written notice in accordance with Section 15.10 upon the occurrence of the
following events: 
 (a) the breach in any material respect (without giving effect to any “materiality” qualifiers set forth
therein) by a Company Party or the Consenting Shareholders of any of the representations, warranties, or covenants of such Parties set forth in this Agreement that remains uncured for five (5) Business Days after such terminating Consenting
Lenders transmit a written notice in accordance with Section 15.10 detailing any such breach; 

  
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 (b) the Milestones set forth in Section 4 have not been achieved, extended or waived;

 (c) the issuance by any Governmental Entity, including any regulatory authority or court of competent jurisdiction, of any final, non-appealable ruling or order that (i) enjoins the consummation of a material portion of the Restructuring Transactions and (ii) remains in effect for thirty (30) Business Days after such terminating
Consenting Lenders transmit a written notice in accordance with Section 15.10 detailing any such issuance; provided, that this termination right may not be exercised by any Consenting Lender that sought or requested such ruling or order
in contravention of any obligation set out in this Agreement; 
 (d) any Company Party (i) publicly announces, or communicates in
writing to any other Party, its intention not to support or pursue the Restructuring Transactions, (ii) provides notice to the Consenting Stakeholders that it is exercising its rights pursuant to Section 9.01, (iii) obtains debtor-in-possession financing other than pursuant to the DIP Facility, or (iv) publicly announces, or communicates in writing to any other Party, that it intends to
enter into, or has entered into, definitive documentation with respect to, an Alternative Restructuring; 
 (e) (i) any of the Company
Parties filed any agreement, instrument, pleading, order, form, or other document that is utilized to implement or effectuate, or that otherwise relates to, this Agreement, the Plan, and/or the Restructuring Transactions that, in any such case, is
not consistent in all material respects with this Agreement or otherwise reasonably acceptable to the Required Consenting Stakeholders, subject to the Consenting Shareholders’ In-Court Consent Right, or
(ii) the waiver, amendment, or modification of any of the Definitive Documents, or the filing by any Company Party, of a pleading seeking to waive, amend or modify any term or condition of any of the Definitive Documents, which waiver,
amendment, modification, or filing contains any provision that is not consistent in all material respects with this Agreement or otherwise reasonably acceptable to the Required Consenting Stakeholders, subject to the Consenting Shareholders’ In-Court Consent Right, in each case, which remains uncured for five (5) Business Days after such terminating Consenting Lenders transmit a written notice in accordance with Section 15.10; 

(f) the Bankruptcy Court enters an order denying confirmation of the Plan; 

(g) the occurrence of (i) an “Event of Default” under any of the Term Loan Agreement (other than (A) the Forbearance
Defaults (as defined in the Term Loan Forbearance Agreement), and (B) a bankruptcy filing consistent with, and as party of, the In-Court Restructuring), DIP Facility Documents, the Interim DIP Order, or
the Final DIP Order (without giving effect to any amendments, supplements, modifications, or waivers to the Term Loan Agreement, DIP Facility Documents, the Interim DIP Order, or the Final DIP Order made or provided after the Agreement Effective
Date), or (ii) an acceleration or maturity of the obligations, or termination of commitments under, the Term Loan Agreement (prior to the Petition Date) or DIP Facility Documents (after the Petition Date); 

(h) the occurrence and continuance of any “Event of Termination” under the Term Loan Forbearance Agreement and such “Event of
Termination” is not cured, waived or otherwise remedied within two (2) Business Days after the occurrence thereof; 
 (i) the occurrence
of a Material Adverse Effect; 

  
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 (j) the Bankruptcy Court grants relief that (i) is inconsistent with this Agreement in
any material respect or (ii) would, or would reasonably be expected to, frustrate the purposes of this Agreement, including by preventing the consummation of the Restructuring Transactions; 

(k) the Bankruptcy Court enters an order terminating any Debtor’s exclusive right to file and/or solicit acceptances of a plan of
reorganization; 
 (l) the Bankruptcy Court enters an order authorizing or directing the assumption, assumption and assignment, or rejection
of an executory contract (including any employment agreement, severance agreement or other employee benefit plan) or unexpired lease, other than any assumption or rejection that (i) is approved in advance by the Required Consenting Lenders or
(ii) is expressly contemplated by the Plan; 
 (m) any Debtor (i) withdraws the Plan, (ii) publicly announces, or announces in
writing to any other Party, its intention to withdraw the Plan or not support the Plan, (iii) moves to voluntarily dismiss any of the Chapter 11 Cases, or (iv) moves for court authority to sell any material asset or assets without the
written consent of the Required Consenting Lenders; 
 (n) the Bankruptcy Court enters an order invalidating, disallowing, subordinating,
recharacterizing, or limiting, as applicable, any of the Term Loan Claims or any of the encumbrances that secure (or purport to secure) the Term Loan Claims; 

(o) the entry of an order by the Bankruptcy Court, or the filing of a motion or application by any Company Party seeking an order (without the
prior written consent of the other Required Parties, not to be unreasonably withheld), (i) converting one or more of the Chapter 11 Cases of a Company Party to a case under chapter 7 of the Bankruptcy Code, (ii) appointing an examiner with
expanded powers beyond those set forth in sections 1106(a)(3) and (4) of the Bankruptcy Code or a trustee in one or more of the Chapter 11 Cases of a Company Party, or (iii) rejecting this Agreement; 

(p) the Bankruptcy Court grants relief terminating, annulling, or modifying the automatic stay (as set forth in section 362 of the Bankruptcy
Code) with regard to any material asset that, to the extent such relief was granted, would have a material adverse effect on the consummation of the Restructuring Transactions; provided, however, that any modification of the automatic
stay expressly provided by either Interim DIP Order or the Final DIP Order shall not constitute a termination event; or 
 (q) after entry by
the Bankruptcy Court of the Interim DIP Order, the Final DIP Order, the Disclosure Statement Order, or the Confirmation Order, any such order is reversed, stayed, dismissed, vacated, reconsidered, modified, or amended in any material respect without
the written consent of the Required Consenting Lenders; 
 provided, however, that in the case of a breach by the Consenting Shareholders
pursuant to Section 13.01(a), the Consenting Lenders may only terminate this Agreement with respect to the Consenting Shareholders (and the Out-of-Court
Restructuring), and the Agreement would otherwise survive with respect to the Company Parties and Consenting Lenders (and the In-Court Restructuring). 

  
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 13.02. Company Party Termination Events. Any Company Party may terminate this
Agreement as to all Parties (unless otherwise set forth in this Section 13.02) upon prior written notice to counsel to the Consenting Stakeholders in accordance with Section 15.10 upon the occurrence of any of the following events: 

(a) the breach in any material respect (without giving effect to any “materiality” qualifiers set forth therein) by the Consenting
Shareholders of any of the representations, warranties, or covenants of the Consenting Shareholders set forth in this Agreement, and such breach remains uncured for five (5) Business Days after the Company Parties transmit a written notice of
such breach; in accordance with Section 15.10 detailing any such breach; 
 (b) the breach in any material respect (without giving
effect to any “materiality” qualifiers set forth therein) by the Consenting Lenders of any of the representations, warranties, or covenants of the Consenting Lenders set forth in this Agreement, such that the
non-breaching Consenting Lenders own or control less than two-thirds in aggregate principal amount of all of the outstanding Term Loans and such breach remains uncured
for five (5) Business Days after the Company Parties transmit a written notice in accordance with Section 15.10 detailing any such breach; 

(c) the board of directors, board of managers, or such similar governing body of any Company Party determines, after consulting with counsel,
in accordance with Section 9, that (i) proceeding with any of the Restructuring Transactions (including taking any action or refraining from taking any action) would be inconsistent with the exercise of its fiduciary duties or applicable
Law, including to pursue an Alternative Restructuring Proposal and (ii) the Company Parties are in compliance with the terms of this Agreement; 

(d) the issuance by any Governmental Entity, including any regulatory authority or court of competent jurisdiction, of any final, non-appealable ruling or order that (i) enjoins the consummation of a material portion of the Restructuring Transactions and (ii) remains in effect for thirty (30) Business Days after such terminating
Company Party transmits a written notice in accordance with Section 15.10 detailing any such issuance; provided, that this termination right shall not apply to or be exercised by the Company Parties if any Company Party sought or
requested such ruling or order in contravention of any obligation or restriction set out in this Agreement; or 
 (e) if the Restructuring
Transactions are to be implemented through the In-Court Restructuring, the Bankruptcy Court enters an order denying confirmation of the Plan; 

provided, however, that in the case of a breach by the Consenting Shareholders pursuant to Section 13.02(a), the Company Parties may only
terminate this agreement with respect to the Consenting Shareholders (and the Out-of-Court Restructuring), and the Agreement would otherwise survive with respect to the
Company Parties and Consenting Lenders (and the In-Court Restructuring). 
 13.03. Consenting
Shareholders Termination. This Agreement may be terminated with respect to the Consenting Shareholders only, by the Consenting Shareholders, by the delivery to counsel to the Company Parties and counsel to the Consenting Lenders of a written
notice in accordance with Section 15.10 upon the occurrence of the following events: 
 (a) the breach in any material respect (without
giving effect to any “materiality” qualifiers set forth therein) by a Company Party or the Consenting Lenders of any of the representations, warranties, or covenants of such Parties set forth in this Agreement that remains uncured for five
(5) Business Days after the Consenting Shareholders transmits a written notice in accordance with Section 15.10 detailing any such breach; 

  
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 (b) the Sponsor Milestones set forth in Section 4 have not been achieved, except to the
extent such Sponsor Milestone has been waived or extended in a manner consistent with this Agreement or a Consenting Shareholder is the cause of the failure to meet such Sponsor Milestone; 

(c) the Consent Threshold has not been obtained by the
Out-of-Court Toggle Date, but solely to the extent that notice of such termination under this Section 13.03(c) is provided within two (2) Business Days
following the Out-of-Court Toggle Date; 
 (d) the issuance
by any Governmental Entity, including any regulatory authority or court of competent jurisdiction, of any final, non-appealable ruling or order that (i) enjoins the consummation of a material portion of
the Restructuring Transactions and (ii) remains in effect for thirty (30) Business Days after the Consenting Shareholders transmit a written notice in accordance with Section 15.10 detailing any such issuance; provided, that
this termination right may not be exercised by the Consenting Shareholders that sought or requested such ruling or order in contravention of any obligation set out in this Agreement; 

(e) any Company Party (i) publicly announces, or communicates in writing to any other Party, its intention not to support or pursue the
Restructuring Transactions, (ii) provides notice to the Consenting Stakeholders that it is exercising its rights pursuant to Section 9.01, or (iii) publicly announces, or communicates in writing to any other Party, that it intends to
enter into, or has entered into, definitive documentation with respect to, an Alternative Restructuring 
 (f) (i) any of the Company Parties
files any agreement, instrument, pleading, order, form and other document that is utilized to implement or effectuate, or that otherwise relates to, this Agreement, the Plan and/or the Restructuring Transactions that, in any such case, is not
consistent in all material respects with this Agreement or otherwise reasonably acceptable to the Required Consenting Stakeholders, subject to the Consenting Shareholders’ In-Court Consent Right, or
(ii) any term, waiver, amendment or modification of any of the Definitive Documents, or the filing by any Company Party of a pleading seeking to waive, amend or modify any term or condition of any of the Definitive Documents that, is not
consistent in all material respects with this Agreement (to the extent applicable to the Consenting Shareholders) or otherwise reasonably acceptable to the Required Consenting Stakeholders, subject to the Consenting Shareholders’ In-Court Consent Right, in each case, which remains uncured for five (5) Business Days after the Consenting Shareholders transmit a written notice in accordance with Section 15.10; 

(g) with respect to an In-Court Restructuring, the Bankruptcy Court enters an order denying
confirmation of the Plan; 
 (h) the occurrence of a Material Adverse Effect; 

  
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 (i) the Bankruptcy Court grants relief that (i) is inconsistent with this Agreement in
any material respect or (ii) would, or would reasonably be expected to, frustrate the purposes of this Agreement, including by preventing the consummation of the Restructuring Transactions; 

(j) the Bankruptcy Court enters an order terminating any Debtor’s exclusive right to file and/or solicit acceptances of a plan of
reorganization; 
 (k) the Bankruptcy Court enters an order invalidating, disallowing, subordinating, recharacterizing, or limiting, as
applicable, any of the Company Claims/Equity Interests held by the Consenting Shareholders; and 
 (l) the entry of an order by the
Bankruptcy Court, or the filing of a motion or application by any Company Party seeking an order (without the prior written consent of the other Required Parties), (i) converting one or more of the Chapter 11 Cases of a Company Party to a case under
chapter 7 of the Bankruptcy Code, (ii) appointing an examiner with expanded powers beyond those set forth in sections 1106(a)(3) and (4) of the Bankruptcy Code or a trustee in one or more of the Chapter 11 Cases of a Company Party, or
(iii) rejecting this Agreement; 
 13.04. Mutual Termination. This Agreement, and the obligations of all Parties hereunder,
may be terminated by mutual written agreement among all of the following: (a) the Consenting Shareholders; (b) the Required Consenting Lenders; and (c) each Company Party. 

13.05. Automatic Termination. This Agreement shall terminate with respect to all Parties automatically, without any further action
required by any Party, upon the earlier of (i) the consummation of the Out-of-Court Restructuring or the occurrence of the Plan Effective Date, as applicable and
(ii) November 15, 2020 (the “Automatic Termination Outside Date”), which Automatic Termination Outside Date may be extended or waived with the consent of the Required Consenting Stakeholders upon written request of the
Company to counsel to the Consenting Stakeholders within seven (7) calendar days of such date. 
 13.06. Effect of Termination.
Upon the occurrence of the Termination Date as to a Party, this Agreement shall be of no further force and effect as to such Party and each Party subject to such termination shall be released from its commitments, undertakings, and agreements
under or related to this Agreement and shall have the rights and remedies that it would have had, had it not entered into this Agreement, and shall be entitled to take all actions, whether with respect to the Restructuring Transactions or otherwise,
that it would have been entitled to take had it not entered into this Agreement, including with respect to any and all Claims or causes of action; provided, however, that in no event shall any such termination relieve any Party from
(a) liability for its breach or non-performance of its obligations under this Agreement prior to the Termination Date or (b) obligations under this Agreement which by their terms expressly survive
termination of this Agreement. Upon the occurrence of the Termination Date prior to the Out-of-Court Restructuring Effective Date or the Plan Effective Date, as
applicable, any and all consents or ballots tendered by the Parties subject to such termination with respect to the Restructuring Transactions, in each case before the Termination Date, shall be deemed, for all purposes, to be null and void from the
first instance and shall not be considered or otherwise used in any manner by the Parties in connection with the Restructuring Transactions, this Agreement, or otherwise. Nothing in this Agreement shall be construed as prohibiting a Company Party or
any of the Consenting 

  
 31 

 
Stakeholders from contesting whether any such termination is in accordance with its terms or to seek enforcement of any rights under this Agreement that arose or existed before the Termination
Date. Except as expressly provided in this Agreement, nothing herein is intended to, or does, in any manner waive, limit, impair, or restrict (i) any right of any Company Party or the ability of any Company Party to protect and reserve its
rights (including rights under this Agreement), remedies, and interests, including its claims against any Consenting Stakeholder, and (ii) any right of any Consenting Stakeholder, or the ability of any Consenting Stakeholder, to protect and
preserve its rights (including rights under this Agreement), remedies, and interests, including its claims against any Company Party or Consenting Stakeholder. No purported termination of this Agreement shall be effective under this
Section 13.06 or otherwise if the Party seeking to terminate this Agreement is in material breach of this Agreement, except a termination pursuant to Section 13.02(c). Nothing in this Section 13.06 shall restrict any Company
Party’s right to terminate this Agreement in accordance with Section 13.02(c). If this Agreement has been terminated in accordance with this Section 13 at a time when permission of the Bankruptcy Court shall be required for a
Consenting Stakeholder to change or withdraw (or cause to change or withdraw) its vote to accept the Plan, the Company Parties shall consent to any attempt by such Consenting Stakeholder to change or withdraw (or cause to change or withdraw) such
vote at such time. 
 Section 14. Amendments and Waivers. 

(a) This Agreement may not be modified, amended, or supplemented, and no condition or requirement of this Agreement may be waived, in any
manner except in accordance with this Section 14. 
 (b) This Agreement may be modified, amended, or supplemented, or a condition or
requirement of this Agreement may be waived, in a writing signed: (i) in the case of a waiver, by the Party against whom the waiver is to be effective, and (ii) in the case of a modification, amendment or supplement, by the Required
Parties; provided, however, that (A) if the proposed modification, amendment, or supplement adversely affects any of the Company Claims/Interests held by a Consenting Stakeholder in a manner that is different or disproportionate
in any material respect from the effect such modification, amendment, or supplement has on the Company Claims/Interests held by the Consenting Stakeholders, as applicable, other than in proportion to the amount of such Company Claims/Interests, then
the consent of each such affected Consenting Stakeholder shall also be required to effectuate such modification, amendment, waiver or supplement, and (B) any modification, amendment or supplement to this Section 14(b) shall require the
consent of all Parties. 
 (c) Any proposed modification, amendment, waiver, or supplement that does not comply with this Section 14
shall be ineffective and void ab initio. 
 (d) The waiver by any Party of a breach of any provision of this Agreement shall not
operate or be construed as a further or continuing waiver of such breach or as a waiver of any other or subsequent breach. No failure on the part of any Party to exercise, and no delay in exercising, any right, power, or remedy under this Agreement
shall operate as a waiver of any such right, power, or remedy or any provision of this Agreement, nor shall any single or partial exercise of such right, power, or remedy by such Party preclude any other or further exercise of such right, power, or
remedy or the exercise of any other right, power, or remedy. All remedies under this Agreement are cumulative and are not exclusive of any other remedies provided by Law. 

  
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 Section 15. Miscellaneous. 

15.01. Acknowledgement. Notwithstanding any other provision herein, this Agreement is not and shall not be deemed to be an offer with
respect to any securities or solicitation of votes for the acceptance of a plan of reorganization for purposes of sections 1125 and 1126 of the Bankruptcy Code or otherwise. Any such offer or solicitation will be made only in compliance with
all applicable securities Laws, provisions of the Bankruptcy Code, and/or other applicable Law. 
 15.02. Exhibits Incorporated by
Reference; Conflicts. Each of the exhibits, annexes, signature pages, and schedules attached hereto is expressly incorporated herein and made a part of this Agreement, and all references to this Agreement shall include such exhibits,
annexes, and schedules. In the event of any inconsistency between this Agreement (without reference to the exhibits, annexes, and schedules hereto) and the exhibits, annexes, and schedules hereto, this Agreement (without reference to the exhibits,
annexes, and schedules thereto), Out-of-Court Term Sheet, or the Chapter 11 Term Sheet, as applicable, shall govern. 

15.03. Further Assurances. Subject to the other terms of this Agreement, the Parties agree to execute and deliver such other
instruments and perform such acts, in addition to the matters herein specified, as may be reasonably appropriate or necessary, or as may be required by order of the Bankruptcy Court, from time to time, to effectuate the Restructuring Transactions,
as applicable. The Parties shall cooperate with each other and with their respective counsel in good faith in connection with any steps required to be taken as part of their respective obligations under this Agreement. 

15.04. Complete Agreement. Except as otherwise explicitly provided herein, this Agreement constitutes the entire agreement among
the Parties with respect to the subject matter hereof and supersedes all prior agreements, oral or written, among the Parties with respect thereto, other than any Confidentiality Agreement. 

15.05. GOVERNING LAW; SUBMISSION TO JURISDICTION; SELECTION OF FORUM. THIS AGREEMENT IS TO BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS MADE AND TO BE PERFORMED IN SUCH STATE, WITHOUT GIVING EFFECT TO THE CONFLICT OF LAWS PRINCIPLES THEREOF. Each Party hereto agrees that it shall bring any action or
proceeding in respect of any claim arising out of or related to this Agreement, to the extent possible, in the Bankruptcy Court, and solely in connection with claims arising under this Agreement: (a) irrevocably submits to the exclusive
jurisdiction of the Bankruptcy Court; (b) waives any objection to laying venue in any such action or proceeding in the Bankruptcy Court; and (c) waives any objection that the Bankruptcy Court is an inconvenient forum or does not have
jurisdiction over any Party hereto. 
 15.06. TRIAL BY JURY WAIVER. EACH PARTY HERETO IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY
JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. 

  
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 15.07. Execution of Agreement. This Agreement may be executed and delivered in
any number of counterparts and by way of electronic signature and delivery, each such counterpart, when executed and delivered, shall be deemed an original, and all of which together shall constitute the same agreement. Except as expressly provided
in this Agreement, each individual executing this Agreement on behalf of a Party has been duly authorized and empowered to execute and deliver this Agreement on behalf of said Party. 

15.08. Rules of Construction. This Agreement is the product of negotiations among the Company Parties and the Consenting
Stakeholders, and in the enforcement or interpretation hereof, is to be interpreted in a neutral manner, and any presumption with regard to interpretation for or against any Party by reason of that Party having drafted or caused to be drafted this
Agreement, or any portion hereof, shall not be effective in regard to the interpretation hereof. The Company Parties and the Consenting Stakeholders were each represented by counsel during the negotiations and drafting of this Agreement and continue
to be represented by counsel. 
 15.09. Successors and Assigns; Third Parties. This Agreement is intended to bind and inure to
the benefit of the Parties and their respective successors and permitted assigns, as applicable. There are no third-party beneficiaries under this Agreement, except that each No Recourse Party shall be a third-party beneficiary of
Section 15.24. The rights or obligations of any Party under this Agreement may not be assigned, delegated, or transferred to any other Person, except in accordance with Section 10. 

15.10. Notices. All notices hereunder shall be deemed given if in writing and delivered, by electronic mail, courier, or registered
or certified mail (return receipt requested), to the following addresses (or at such other addresses as shall be specified by like notice): 

(a) if to a Company Party, to: 

c/o TowerBrook Capital Partners, L.P. 

Park Avenue Tower 
 65 East 55th
Street 
 New York, New York 10022 

and 
 J.Jill Inc. 

4 Batterymarch Park 
 Quincy,
Massachusetts 02169 
 with copies to: 

Kirkland & Ellis LLP 

601 Lexington Avenue 
 New York,
New York 10022 
 Tel.: 

Attention:    Jonathan S. Henes 

   Neil E. Herman 

E-mail:        jhenes@kirkland.com 

   neil.herman@kirkland.com 

  
 34 

 (b) if to a Consenting Lender, to the address or
e-mail addresses set forth on such Consenting Lender’s signature page to this Agreement (or in the signature page to a Joinder in the case of any Consenting Lender that becomes a party hereto after the
Agreement Effective Date), with a copy to: 
 Stroock & Stroock & Lavan LLP 

180 Maiden Lane 
 New York, New
York 10038 
 Tel.: (212) 806-5400 

Attention:     Jayme T. Goldstein 

Allison P. Miller 
 Sayan
Bhattacharyya 
 E-mail: jgoldstein@stroock.com 

amiller@stroock.com 

sbhattacharyya@strook.com 
 (c)
if to the Consenting Shareholders, to the address or e-mail addresses set forth on the Consenting Shareholders’ signature pages to this Agreement, with a copy to: 

Paul, Weiss, Rifkind, Wharton & Garrison 

1285 Avenue of the Americas 
 New
York, New York 10019 
 Tel.: (212) 373-3000 

Attention: Jeffrey D. Saferstein 

       Elizabeth McColm 

E-mail:     jsaferstein@paulweiss.com 

       emccolm@paulweiss.com 

Any notice given by delivery, mail, or courier shall be effective when received. 

15.11. Independent Due Diligence and Decision Making. Each Consenting Stakeholder hereby confirms that its decision to execute this
Agreement has been based upon its independent investigation of the operations, businesses, financial and other conditions, and prospects of the Company Parties. 

15.12. Enforceability of Agreement. Each of the Parties to the extent enforceable waives any right to assert that the exercise of
termination rights under this Agreement is subject to the automatic stay provisions of the Bankruptcy Code, and expressly stipulates and consents hereunder to the prospective modification of the automatic stay provisions of the Bankruptcy Code for
purposes of exercising termination rights under this Agreement, to the extent the Bankruptcy Court determines that such relief is required. 

  
 35 

 15.13. Waiver. If the Restructuring Transactions are not consummated, or if this
Agreement is terminated for any reason, nothing herein shall be construed as a waiver by any Consenting Lender of any or all of such Consenting Lender’s rights, remedies, claims, and defenses and the Consenting Lenders expressly and fully
reserve any and all of their respective rights, remedies, claims, and defenses. Pursuant to Federal Rule of Evidence 408 and any other applicable rules of evidence, this Agreement and all negotiations relating hereto shall not be admissible into
evidence in any proceeding other than a proceeding to enforce its terms or the payment of damages to which a Party may be entitled under this Agreement. 

15.14. Specific Performance. It is understood and agreed by the Parties that money damages would be an insufficient remedy for any
breach of this Agreement by any Party, and each non-breaching Party shall be entitled to specific performance and injunctive or other equitable relief (without the posting of any bond and without proof of
actual damages) as a remedy of any such breach, including an order of the Bankruptcy Court or other court of competent jurisdiction requiring any Party to comply promptly with any of its obligations hereunder. 

15.15. Claims. Except where otherwise specified, the agreements, representations, warranties, and obligations of (a) the Company
Parties under this Agreement are, in all respects, joint and several, and (b) the Consenting Stakeholders under this Agreement are, in all respects, several and not joint. 

15.16. Severability and Construction. If any provision of this Agreement shall be held by a court of competent jurisdiction to be
illegal, invalid, or unenforceable, the remaining provisions shall remain in full force and effect if essential terms and conditions of this Agreement for each Party remain valid, binding, and enforceable. 

15.17. Remedies Cumulative. All rights, powers, and remedies provided under this Agreement or otherwise available in respect hereof at
Law or in equity shall be cumulative and not alternative, and the exercise of any right, power, or remedy thereof by any Party shall not preclude the simultaneous or later exercise of any other such right, power, or remedy by such Party. 

15.18. Capacities of Consenting Stakeholder. Each Consenting Stakeholder has entered into this agreement on account of all Company
Claims/Interests that it holds (directly or through discretionary accounts that it manages or advises) and, except where otherwise specified in this Agreement, shall take or refrain from taking all actions that it is obligated to take or refrain
from taking under this Agreement with respect to all such Company Claims/Interests. 
 15.19. Email Consents. Where a written consent,
acceptance, approval, notice or waiver is required pursuant to or contemplated by this Agreement, pursuant to Section 3.02, Section 13, Section 14 or otherwise, including a written approval by the Required Parties, such written
consent, acceptance, approval, or waiver shall be deemed to have occurred if, by agreement between counsel (identified in Section 15.10) to the applicable Parties submitting and receiving such consent, acceptance, approval, or waiver, it is
conveyed in writing (including electronic mail) between each such counsel without representations or warranties of any kind on behalf of such counsel. 

  
 36 

 15.20. Transaction Expenses. 

(a) Whether or not the transactions contemplated by this Agreement are consummated and, in each case, if applicable, subject to the terms of
the applicable engagement letter or fee reimbursement letter, the Company Parties hereby agree, on a joint and several basis, to pay in cash the Transaction Expenses as follows: (i) all accrued and unpaid Transaction Expenses of the Consenting
Lenders’ Advisors incurred up to (and including) the Agreement Effective Date shall be paid in full in cash no later than (5) Business Days following the Agreement Effective Date, (ii) prior to the Petition Date (if any) and after the
Agreement Effective Date, all accrued and unpaid Transaction Expenses of the Consenting Lenders’ Advisors shall be paid in full in cash by the Company Parties on a regular and continuing basis promptly (but in any event within five
(5) Business Days) and no later than the Business Day prior to the Petition Date against receipt of reasonably detailed invoices, (iii) after the Petition Date (if any), to the extent permitted by order of the Bankruptcy Court, all accrued
and unpaid Transaction Expenses of the Consenting Lenders’ Advisors shall be paid in full in cash by the Company Parties on a regular and continuing basis promptly (but in any event within five (5) Business Days) against receipt of
reasonably detailed invoices, (iv) upon termination of this Agreement, all accrued and unpaid Transaction Expenses of the Consenting Lenders’ Advisors incurred up to (and including) the Termination Date shall be paid in full in cash
promptly (but in any event within five (5) Business Days) in full in cash, against receipt of reasonably detailed invoices, and (v) upon consummation of the
Out-of-Court Restructuring or the occurrence of the Plan Effective Date, as applicable, all accrued and unpaid Transaction Expenses incurred up to (and including) such
date shall be paid in full in cash against receipt of reasonably detailed invoices, in each case without any requirement for Bankruptcy Court review or further Bankruptcy Court order. For the avoidance of doubt, Transaction Expenses of the
Consenting Shareholders’ Advisors shall only be paid by the Company Parties upon consummation of the Out-of-Court Restructuring or the occurrence of the Plan
Effective Date, in each case, subject to the limitations set forth in the definition of “Transaction Expenses”. 
 (b) The terms
set forth in Section 15.20(a) shall survive termination of this Agreement and shall remain in full force and effect regardless of whether the transactions contemplated by this Agreement are consummated. The Company Parties hereby acknowledge
and agree that the Consenting Stakeholders have expended, and will continue to expend, considerable time, effort and expense in connection with this Agreement and the negotiation of the Restructuring Transactions, and that this Agreement provides
substantial value to, is beneficial to, and is necessary to preserve, the Company Parties, and that the Consenting Stakeholders have made a substantial contribution to the Company Parties and the Restructuring Transactions. If and to the extent not
previously reimbursed or paid in connection with the foregoing, subject to the approval of the Bankruptcy Court, the Company Parties shall reimburse or pay (as the case may be) all reasonable and documented Transaction Expenses pursuant to section
1129(a)(4) of the Bankruptcy Code or otherwise. The Company Parties hereby acknowledge and agree that the Transaction Expenses are of the type that should be entitled to treatment as, and the Company Parties shall seek treatment of such Transaction
Expenses as, administrative expense claims pursuant to sections 503(b) and 507(a)(2) of the Bankruptcy Code. 
 15.21. Relationship Among
Parties. It is understood and agreed that no Consenting Stakeholder owes any duty of trust or confidence of any kind or form to any other Party. In this regard, it is understood and agreed that any Consenting Lender may trade in Company
Claims/Interests without the consent of any other Consenting Stakeholder, subject to applicable securities laws and the terms of this Agreement; provided, however, that no Consenting 

  
 37 

 
Stakeholder shall have any responsibility for any such trading to any other Person by virtue of this Agreement. No prior history, pattern, or practice of sharing confidences among or between the
Parties shall in any way affect or negate this understanding and agreement. No Consenting Stakeholder shall, as a result of its entering into and performing its obligations under this Agreement, be deemed to be part of a “group” (as that
term is used in Section 13(d) of the Exchange Act) with any other Party. For the avoidance of doubt, no action taken by a Consenting Stakeholder pursuant to this Agreement shall be deemed to constitute or to create a presumption by any of the
Parties that the Consenting Stakeholders are in any way acting in concert or as such a “group.” 
 15.22. Survival.
Notwithstanding the termination of this Agreement pursuant to Section 13, the terms, provisions, agreements and obligations of the Parties in Section 15 (other than Section 15.03), and any defined terms used in any of the forgoing
Sections (solely to the extent used therein), shall survive such termination and shall continue in full force and effect in accordance with the terms hereof. 

15.23. Publicity. The Company Parties shall submit drafts to counsel to the Consenting Stakeholders of any press releases and public
documents that constitute disclosure of the existence or terms of this Agreement or any amendment to the terms of this Agreement at least three (3) Business Days prior to making any such disclosure, and shall afford them a reasonable
opportunity under the circumstances to comment on such documents and disclosures and shall incorporate any such reasonable comments in good faith. Except as required by Law, no Party or its advisors shall (a) use the name of any Consenting
Stakeholder in any public manner (including in any press release) with respect to this Agreement, the Restructuring Transactions or any of the Definitive Documents or (b) disclose to any Person (including, for the avoidance of doubt, any other
Consenting Stakeholder), other than advisors to the Company Parties, the principal amount or percentage of any Company Claims/Interests held by any Consenting Stakeholder without such Consenting Stakeholder’s prior written consent (it being
understood and agreed that each Consenting Stakeholder’s signature page to this Agreement shall be redacted to remove the name of such Consenting Stakeholder and the amount and/or percentage of Company Claims/Interests held by such Consenting
Stakeholder); provided, however, that (i) if such disclosure is required by Law, the disclosing Party shall afford the relevant Consenting Stakeholder a reasonable opportunity to review and comment in advance of such disclosure
and shall take all reasonable measures to limit such disclosure and (ii) the foregoing shall not prohibit the disclosure of the aggregate percentage or aggregate principal amount of Company Claims/Interests held by the Consenting Stakeholders
of the same class, collectively. Notwithstanding the provisions in this Section 15.23, (A) any Party may disclose the identities of the other Parties in any action to enforce this Agreement or in any action for damages as a result of any
breaches hereof, and (B) any Party may disclose, to the extent expressly consented to in writing by a Consenting Stakeholder, such Consenting Stakeholder’s identity and individual holdings. Notwithstanding the forgoing, any Party may
disclose the identity and individual holdings of any Consenting Stakeholder to the Consenting Stakeholders’ Advisors without the consent of any Consenting Stakeholder. 

  
 38 

 15.24. No Recourse. This Agreement may only be enforced against the named parties
hereto (and then only to the extent of the specific obligations undertaken by such parties in this Agreement). All claims or causes of action (whether in contract, tort, equity, or any other theory) that may be based upon, arise out of or relate to
this Agreement, or the negotiation, execution, or performance of this Agreement, may be made only against the Persons that are expressly identified as parties hereto (and then only to the extent of the specific obligations undertaken by such parties
herein). No past, present, or future direct or indirect director, manager, officer, employee, incorporator, member, partner, stockholder, equity holder, trustee, affiliate, controlling person, agent, attorney, or other representative of any party
hereto (including any person negotiating or executing this Agreement on behalf of a party hereto), nor any past, present, or future direct or indirect director, manager, officer, employee, incorporator, member, partner, stockholder, equity holder,
trustee, affiliate, controlling person, agent, attorney, or other representative of any of the foregoing (other than any of the foregoing that is a party hereto) (any such Person, a “No Recourse Party”), shall have any
liability with respect to this Agreement or with respect to any proceeding (whether in contract, tort, equity, or any other theory that seeks to “pierce the corporate veil” or impose liability of an entity against its owners or affiliates
or otherwise) that may arise out of or relate to this Agreement, or the negotiation, execution, or performance of this Agreement. 

[Signature Pages Follow.] 

  
 39 

 IN WITNESS WHEREOF, the Parties hereto have executed this Agreement on the day and year
first above written. 
  

			
	J.JILL, INC., a Delaware corporation
		
	By:	 	 /s/ Mark Webb

	Name: Mark Webb
	Title: Chief Financial Officer
	
	JILL ACQUISITION LLC, a Delaware limited liability company
		
	By:	 	 /s/ Mark Webb

	Name: Mark Webb
	Title: Chief Financial Officer
	
	J. JILL GIFT CARD SOLUTIONS, INC., a Florida corporation
		
	By:	 	 /s/ Mark Webb

	Name: Mark Webb
	Title: Chief Financial Officer

 [Signature Page to Transaction Support Agreement] 

			
	CONSENTING SHAREHOLDERS

 [TSA Party] 

[*****] 

			
	CONSENTING LENDERS

 [TSA Party] 

[*****] 

 EXHIBIT A 

Out-of-Court Term Sheet 

 J. Jill 

OUT-OF-COURT Term Sheet 

This Term Sheet (including all schedules attached hereto, this “Term Sheet”) contains certain material terms and conditions of a proposed
financing transaction to be consummated on an out-of-court basis (the “Transaction” and the date on which such Transaction is consummated, the
“Closing Date”) pursuant to the terms, and subject to the conditions, set forth in that certain Transaction Support Agreement, dated as of August 31, 2020, by and among (i) Jill Acquisition LLC (the
“Borrower”), J.Jill, Inc. (“Holdings”) and their direct and indirect subsidiaries (collectively with the Borrower and Holdings, the “Company Parties”), (ii) certain Existing Term Lenders (as defined
below) that are, or become, signatories to the Transaction Support Agreement (collectively, the “Consenting Lenders”), and (iii) TowerBrook Capital Partners L.P. (together with its affiliates that own equity interests of
Holdings, “Towerbrook” or the “Consenting Shareholders”) (including all schedules, exhibits and other attachments thereto, and as may be amended from time to time in accordance therewith, the “Transaction
Support Agreement”). This Term Sheet is the “Out-of-Court Term Sheet” attached to the Transaction Support Agreement as Exhibit A. Capitalized terms
used herein and not otherwise defined have the meaning ascribed to such terms in the Existing Term Loan Agreement (as defined below) or the Transaction Support Agreement, as applicable. 

This Term Sheet is being provided in furtherance of settlement discussions and is entitled to protection under Rule 408 of the Federal Rules of Evidence and
any similar federal or state rule of evidence. 
 Closing of the Transaction is subject to satisfactory completion of definitive documentation in accordance
with the terms, and subject to the conditions, of the Transaction Support Agreement, including this Term Sheet. This Term Sheet does not purport to summarize all of the terms, conditions, covenants and other provisions which may be contained in
definitive documentation for the Transaction. 
 Reference is hereby made to: (i) that certain Term Loan Credit Agreement dated as of May 8, 2015
(as amended, restated, amended and restated, supplemented or otherwise modified prior to the date hereof, the “Existing Term Loan Agreement”), by and among the Borrower, Holdings, the other Guarantors from time to time party
thereto, the Lenders from time to time party thereto (the 

  
 44 

 
“Existing Term Lenders”) and Jefferies Finance LLC, as Administrative Agent (in such capacity, the “Existing Administrative Agent”) and Collateral Agent (in such
capacity, the “Existing Collateral Agent”) (such facility, the “Existing Term Facility” and such loans under the Existing Term Facility, the “Existing Term Loans”); and (ii) that certain ABL
Credit Agreement dated as of May 8, 2015 (as amended, restated, amended and restated supplemented or otherwise modified from time to time, the “ABL Credit Agreement”), by and among the Borrower, Holdings, J. Jill Gift Card
Solutions, Inc., the Lenders from time to time party thereto (the “ABL Lenders”) and CIT Finance LLC, as administrative agent and collateral agent (in such capacities, the “ABL Agent”) (such facility, the
“ABL Facility”). 
 For purposes of this Term Sheet, fiscal year 2019 refers to the fiscal year of the Borrower ending on or about
January 31, 2020, fiscal year 2020 refers to the fiscal year of the Borrower ending on or about January 31, 2021, fiscal year 2021 refers to the fiscal year of the Borrower ending on or about January 31, 2022, fiscal year 2022 refers
to the fiscal year of the Borrower ending on or about January 31, 2023 and fiscal year 2023 refers to the fiscal year of the Borrower ending on or about January 31, 2024. 

 

			
	Transaction
		
	Transaction	  	 Provided that the Consent Threshold has been reached by the
Out-of-Court Toggle Date (and, in each case subject to the terms and conditions set forth herein and in the Transaction Support Agreement), the Company Parties shall
consummate the Transactions (as defined in the Transaction Support Agreement) on an out-of-court basis as follows:

 
 (i) the Borrower shall seek consents from the Required Lenders under the Existing Term
Loan Agreement to the Term Loan Amendment and Waiver (as defined below);
  
 (ii) the
Borrower shall offer to repurchase 100% of the Existing Term Loans of each Existing Term Lender for the Purchase Consideration (as defined below) (the “Purchase Offer”);

 
 (iii) the Borrower shall seek (x) consents from the ABL Required Lenders (as
defined below) to the ABL Amendment and Waiver (as defined below) and (y) $10.0 million of additional revolving commitments from the ABL Lenders in connection therewith (the “Additional Revolving Commitments”); and

 
 (iv) Towerbrook and certain other investors (collectively, the “Junior Facility
Lenders”) shall provide to Borrower $15.0 million of new capital pursuant to and under the Junior Facility (as defined below), the aggregate principal amount of which may be increased in accordance with the terms hereof (the
“Sponsor Investment”).

  
 45 

			
	Term Loan Amendment and Waiver	  	 The Consenting Lenders (who comprise the “Required Lenders” under the Existing Term Loan Agreement) shall agree to the following
(the “Term Loan Amendment and Waiver”):
  
 (i) an amendment of the
Existing Term Loan Agreement to (x) permit the incurrence of, and the liens securing, the Priming Facility (as defined below) and the Junior Facility and (y) otherwise eliminate substantially all of the covenants and events of default in
the Existing Term Loan Agreement; provided, that no guarantors of, or collateral securing, the Existing Term Facility shall be released;
  

(ii) an instruction to the Existing Administrative Agent and the Existing Collateral Agent to enter into (x) the Term Loan Intercreditor Agreement,
(y) the Junior Intercreditor Agreement and (z) the A&R ABL Intercreditor Agreement (each as defined below); and
  

(iii) a waiver of all defaults and events of default under the Existing Term Loan Agreement (including any default resulting from failure to deliver an
unqualified audit opinion for fiscal year 2019).

		
	Purchase Offer	  	 The Borrower shall make an offer to all Existing Term Lenders in accordance with Section 2.15(e) of the Existing Term Loan Agreement to
repurchase 100% of the Existing Term Loans. On the Closing Date, each Existing Term Lender accepting the Purchase Offer (the “Accepting Lenders”) shall receive the following consideration (the “Purchase
Consideration”):
  
 (i) a dollar-for-dollar principal amount of Priming Loans (as defined below);
  

(ii) its pro rata share of the Equity Consideration (as defined below); and
  

(iii) cash in an amount equal to the accrued and unpaid interest on its Existing Term Loans repurchased.

 
 The consummation of the Purchase Offer shall be subject to the condition that Existing
Term Lenders holding at least 95.0% in aggregate principal amount of the Existing Term Loans shall have accepted the Purchase Offer (the “Minimum Purchase Condition”). The Minimum Purchase Condition may not be waived by the Borrower
other than with the consent of the Company Parties and the Required Consenting Stakeholders.
  

Existing Term Loans repurchased by the Borrower pursuant to the Purchase Offer shall be immediately cancelled and retired in accordance with
Section 2.15(e)(iii) of the Existing Term Loan Agreement.

  
 46 

			
	ABL Amendment and Waiver	  	 The Borrower shall use commercially reasonable efforts to obtain the agreement of the Required Lenders (as defined in the ABL Credit
Agreement, for purposes hereof, the “ABL Required Lenders”) to the following (the “ABL Amendment and Waiver”):
  

(i) an amendment to the ABL Credit Agreement to permit the Transaction, including the Additional Revolving Commitments;

 
 (ii) the provision of the Additional Revolving Commitments;

 
 (iii) an instruction to the ABL Agent to enter into the Junior Intercreditor Agreement
and the A&R ABL Intercreditor Agreement; and
  
 (iv) waive all then-existing
defaults and events of default under the ABL Credit Agreement.

		
	Sponsor Investment	  	 The Junior Facility Lenders shall provide the Borrower with $15.0 million of new capital pursuant to a new term loan facility, the
aggregate principal amount of which may be increased in accordance with the terms hereof (such facility, the “Junior Facility” and such loans under the Junior Facility, the “Junior Loans”); provided, that
such Junior Facility shall:
  

•   accrue interest at a rate not to exceed LIBOR + 12.00% per annum (subject to a 1.00% LIBOR
floor), all of which shall be paid in kind and not in cash;
  

•   not have any OID or fees;

 
 •   be secured by the
Collateral (as defined below) on a junior basis, and subordinated in right of payment, to the Priming Facility, the Existing Term Facility and the ABL Facility pursuant to the Junior Intercreditor Agreement;

 
 •   not be guaranteed by
any affiliates of the Borrower other than the Guarantors and shall not be secured other than by the Collateral;
  

•   have a maturity date of November 8, 2024 and not have any amortization or sinking fund
provisions; and
  

•   not have covenants or events of default that are more restrictive than the Priming
Facility.
  
 In connection with providing the Junior Facility, Holdings shall issue,
and the Junior Facility Lenders shall receive, penny warrants to acquire 27% of the fully diluted (including the Equity Consideration, but which shall not be diluted by the Equity Consideration) shares of common stock of Holdings on the Closing Date
(the “Sponsor Investment Warrants”).
  
 The Junior Intercreditor
Agreement shall provide that so long as the Junior Facility Lenders are the sole lenders under the Junior Facility (the “Specified Junior Lenders”), one or more of the Specified Junior Lenders shall have the right to purchase all
outstanding obligations under the Priming Facility and all outstanding obligations under the Existing Term Facility, in each case at par, exercisable for 30 days following the

  
 47 

			
		  	 acceleration (including an automatic acceleration as a result of a bankruptcy event) of the Priming Facility or the Existing Term Facility,
as applicable (the “Purchase Right”); provided, that the Specified Junior Lenders may not exercise the Purchase Right with respect to the Existing Term Facility unless they also exercise such right with respect to the Priming
Facility.
  
 The Borrower may borrow additional amounts under the Junior Facility,
(a) the proceeds of which may be used solely for purposes of the PIK Increase Paydown (as defined below) or in connection with the exercise of Cure Rights, as described below, and/or (b) to incur indebtedness permitted pursuant to the
terms of the Priming Facility.

		
	Conditions to the Consummation of the Transaction	  	 The closing of the Transaction shall be subject to the prior or simultaneous satisfaction (or waiver) of customary conditions for a
Transaction of this type, including the following:
  

•   Delivery and execution by the relevant parties thereto of the ABL Amendment and Waiver
(which may or may not include Additional Revolving Commitments), the Term Loan Amendment and Waiver, the definitive documentation governing the Junior Facility (including the Sponsor Investment Warrants issued in connection therewith) and the
definitive documentation governing the Priming Facility, including all documents and instruments required to create and perfect the security interests in the Collateral, as applicable, in each case, subject to the Documentation Principles and in
form and substance acceptable to the Company Parties and the Required Consenting Stakeholders;
  

•   The conditions to the Purchase Offer (including the Minimum Purchase Condition) shall have
been satisfied and the Accepting Lenders shall have received the Purchase Consideration;
  

•   Delivery and execution by the relevant parties thereto of the Term Loan Intercreditor
Agreement, the Junior Intercreditor Agreement and the A&R ABL Intercreditor Agreement, in each case, in form and substance acceptable to the Company Parties and the Required Consenting Stakeholders;

 
 •   Delivery of customary
corporate documents, including certified charters and good standing certificates;
  

•   Delivery of customary closing certificates and customary legal opinions;

 
 •   Lien search results,
including with respect to intellectual property, with respect to the Issuer and Guarantors, reflecting only Permitted Liens and other liens reasonably satisfactory to the Required Consenting
Lenders;

  
 48 

			
		
		  	 •   Accuracy of all representations and warranties;

 
 •   Since February 1,
2020, there shall not have been a material adverse effect (as defined in the Transaction Support Agreement (subject to clause (b) thereof being modified as applicable));
  

•   The Transaction Support Agreement shall be in full force and effect and shall not have been
terminated; and
  

•   The Company Parties shall have paid all Transaction Expenses in accordance with
Section 15.20 of the Transaction Support Agreement.

	
	Terms of the Priming Facility
		
	Borrower	  	Jill Acquisition LLC (the “Borrower”)
		
	Guarantors	  	The guarantors of the Existing Term Facility, including Holdings, and such other entities that may become guarantors in accordance with the terms of the Priming Facility from time to time, subject to the terms set forth in
Schedule 1 hereof and the Documentation Principles (the “Guarantors” and, together with the Borrower, the “Loan Parties”).
		
	Administrative Agent / Collateral Agent	  	A financial institution to be selected by the Consenting Lenders, and reasonably acceptable to the Borrower, will act as administrative agent and collateral agent for the Priming Lenders (as defined below) with respect to the
Priming Facility (as defined below) (in such capacities, the “Administrative Agent”) and will perform the duties customarily associated with such roles; provided, that Wilmington Trust, National Association shall be deemed
acceptable to the Borrower. The Borrower shall pay agency fees to the Administrative Agent in an amount to be agreed between the Borrower and the Administrative Agent.
		
	Priming Facility	  	 Senior secured priming term loan facility (the “Priming Facility”) to be issued by the Borrower and guaranteed by the
Guarantors.
  
 On the Closing Date, the Priming Facility will be issued to the
Accepting Lenders (upon such issuance, the “Priming Lenders”) in a single borrowing (the “Priming Loans”) in an aggregate principal amount equal to the aggregate principal amount of the Existing Term Loans held by
the Accepting Lenders immediately prior to the Closing Date. Priming Loans that are repaid may not be reborrowed.

		
	Equity Consideration; Adjustment	  	On the Closing Date, Holdings shall issue, and each Accepting Lender shall receive its pro rata share (based on the principal amount of its Existing Term Loans in proportion to the aggregate principal amount of the Existing Term
Loans of all Accepting Lenders) of shares of common stock of Holdings (the “Equity Consideration”) with an aggregate value

  
 49 

			
		
		  	 (on a fully-diluted basis) equal to the lesser of (based on the volume-weighted average price of the common stock of Holdings on the Closing
Date) (x) $2.0 million and (y) 10% of the fully diluted (including the Sponsor Investment Warrants, but which shall not be diluted by the Sponsor Investment Warrants) shares of common stock of Holdings on the Closing Date.

 
 The Priming Facility shall contain a covenant providing that if the Equity Consideration
received by Accepting Lenders on the Closing Date was less than 10% of the fully diluted shares of common stock of Holdings on the Closing Date (for the avoidance of doubt, assuming the exercise of the Sponsor Investment Warrants and the issuance of
the Equity Consideration), then, on May 31, 2021, the Company Parties shall, at the Company Parties’ option, either (i) repay $5.0 million in aggregate principal amount of the Priming Loans, together with accrued and unpaid
interest thereon (such payment, the “Trigger Payment”), or (ii) issue additional shares of common stock of Holdings to the Priming Lenders in an amount equal to the greater of (I) (x) 10% of the fully diluted shares of common stock of
Holdings as of the Closing Date (for the avoidance of doubt, assuming the exercise of the Sponsor Investment Warrants and the issuance of the Equity Consideration) less (y) the percentage of the fully diluted shares of common stock of
Holdings as of the Closing Date represented by the Equity Consideration and (II) a number of shares of common stock of Holdings with an aggregate value (on a fully diluted basis and based on the volume-weighted average price of the equity of
Holdings based on a trailing seven-day period) of $0.5 million at the time of such issuance; provided, that the Priming Lenders shall not receive on such date shares of common stock of Holdings
having a value (on a fully diluted basis and based on the volume-weighted average price of the equity of Holdings based on a trailing seven-day period) greater than $4.75 million at the time of such
issuance.
  
 In each case, the equity and/or payments to be made by the Borrower in
this section shall be in an amount equal to the amounts described above multiplied by a fraction, the numerator of which is the aggregate principal amount of Existing Term Loans held by Accepting Lenders and the denominator of which is the total
aggregate principal amount of Existing Term Loans outstanding immediately prior to the consummation of the Purchase Offer.

		
	Documentation Principles	  	The definitive documentation for the Priming Facility shall (a) be substantially consistent with, and reflect the terms and conditions of, this Term Sheet (except to the extent agreed to by the Required Parties) and
(b) subject to the foregoing, be based on the form, and reflect the terms, of the Existing Term Loan Agreement and related definitive documentation, reflecting this Term Sheet and as otherwise modified in a manner acceptable to, or requested
by, the Required Parties (the “Documentation Principles”).

  
 50 

			
	Use of Proceeds	  	The Borrower will not receive any cash proceeds from the Priming Loans, and the Priming Loans shall be used to repurchase the Existing Term Loans, in accordance with Section 2.15(e) of the Existing Term Loan Agreement, of
Accepting Lenders.
		
	Maturity	  	May 8, 2024
		
	Collateral	  	 Subject to the terms set forth in Schedule 1, the Priming Facility shall be secured by fully perfected liens on, and security
interests in, substantially all of the property and assets of the Borrower and the Guarantors, whether now owned or hereafter acquired, which liens shall be (a) first-priority with respect to all “Term Loan Priority Collateral” (as
defined in Initial Intercreditor (as defined in the Existing Term Loan Agreement)) and (b) second priority with respect to all “ABL Facility Priority Collateral” (as defined in Initial Intercreditor (as defined in the Existing Term
Loan Agreement)), in each case, subject to the A&R ABL Intercreditor Agreement and customary exclusions applicable to a facility of this type (the “Collateral”); provided, that the Collateral shall include a pledge of
100% of the voting capital stock of all foreign subsidiaries, but no action (with respect to the creation or perfection of any such pledge) shall be required to be taken outside of the US and no non-US
security documents shall be required.
  
 Pursuant to (I) a customary
“silent-second” intercreditor agreement to be entered into by (i) the Existing Administrative Agent and the Existing Collateral Agent for the Existing Term Facility, (ii) the Administrative Agent and the Collateral Agent for the
Priming Facility and (iii) the Loan Parties (the “Term Loan Intercreditor Agreement”), the Liens on the Collateral securing the Priming Facility shall rank senior to the Liens on the Collateral securing the Existing Term
Facility in all respects and (II) a junior intercreditor and subordination agreement to be entered into by (i) the Existing Administrative Agent and the Existing Collateral Agent for the Existing Term Facility, (ii) the Administrative
Agent and the Collateral Agent for the Priming Facility, (iii) the ABL Agent, (iv) the administrative agent and/or collateral agent for the Junior Facility and (v) the Loan Parties (the “Junior Intercreditor
Agreement”), (x) the Liens on the Collateral securing the Priming Facility, the ABL Facility and the Existing Term Facility shall rank senior to the Liens on the Collateral securing the Junior Facility in all respects and (y) the
obligations under the Priming Facility, the ABL Facility and the Existing Term Facility shall rank senior to the obligations under Junior Facility in all respects, subject to the terms of the definitive documentation.

 
 The Existing Administrative Agent, the Existing Collateral Agent, the Administrative
Agent, the Collateral Agent, the ABL Agent and the Loan Parties shall either amend and restate the Initial Intercreditor (as defined in the Existing Term Loan Agreement) or execute joinders thereto to effectuate the terms hereof (the
“A&R ABL Intercreditor Agreement”).

  
 51 

			
	Interest Rate	  	 Same as the Existing Term Loan (LIBOR + 5.00% (1.00% LIBOR floor)), payable in cash.

Default interest shall be paid consistent with the Documentation Principles.

		
	Scheduled Amortization	  	1.00% per annum, payable in arrears on the last day of each fiscal quarter, commencing with the first full fiscal quarter ending after the Closing Date (i.e., consistent with the Existing Term Loan); provided, that
prepayments from tax refunds may be applied only to the two (2) amortization payments immediately following receipt thereof and shall otherwise be applied to the principal payable upon maturity.
		
	Optional Prepayments	  	The Priming Loans may be optionally prepaid at any time and from time to time in whole or in part at the option of the Borrower without premium.
		
	Mandatory Prepayments	  	Substantially consistent with the Existing Term Loan Agreement, subject to the terms set forth in Schedule 1 hereof and the Documentation Principles.
		
	PIK Payment and Rate Increase	  	 On August 30, 2021 (the “PIK Increase Date”) (which date may be extended with the consent of Priming Lenders holding at
least two-thirds (2/3) in aggregate principal amount of the Priming Loans), (i) the interest rate on the Priming Loans shall be increased by 5.00%, which such additional interest shall be payable in kind (the
“Additional PIK Interest”), and (ii) the Borrower shall make a payment to the Priming Lenders on a pro rata basis in an amount equal to 7.50% of the Priming Loans, payable in kind by increasing the aggregate principal amount of
the Priming Loans (the “PIK Payment”).
  
 Notwithstanding the
foregoing, the Borrower shall have the option to reduce the amount of the Additional PIK Interest and the PIK Payment by making: (i) a voluntary prepayment of Priming Loans at par in an aggregate principal amount of not less than
$15.0 million and (ii) up to two additional voluntary prepayments of the Priming Loans at par of an aggregate principal amount not less than $5.0 million each, in each case, on the PIK Increase Date (the foregoing clauses (i) and
(ii) the “PIK Increase Paydown” and the aggregate amount thereof, the “Paydown Amount”). If the Borrower makes a PIK Increase Paydown on the PIK Increase Date, the Additional PIK Interest and the PIK Payment shall
be adjusted as set forth below based on the aggregate Paydown Amount as of the calendar day immediately prior to the PIK Increase Date.

  

							
	 	 	 Paydown Amount
	  	 PIK Payment
	  	 Additional PIK Interest

		 	 $15.0 million or more, but less than

$20.0 million
	  	5.00% of the aggregate principal amount of the Priming Loans on the date thereof	  	2.00% per annum, payable in kind
		 	 $20.0 million or more, but less than

$25.0 million
	  	2.00% of the aggregate principal amount of the Priming Loans on the date thereof	  	1.00% per annum, payable in kind
				
		 	$25.0 million	  	None	  	None

  
 52 

			
		  	 To the extent that the proceeds of refunds of federal or state income taxes received by the Loan Parties following the Closing Date with
respect to the 2020 taxable year (such tax refunds “Post-Closing Refunds”) and prior to the PIK Increase Date total less than $25.0 million, the Borrower shall have the right to borrow additional amounts under the Junior
Facility in an amount equal to the difference between (x) $25.0 million and (y) the actual amount of Post-Closing Refunds received by the Company prior to the PIK Increase Date, solely for the purpose of making the PIK Increase
Paydown.
  
 If, prior to January 31, 2022, the Loan Parties receive Post-Closing
Refunds in an aggregate amount for all such Post-Closing Refunds received from time to time exceeding $25.0 million (such amount in excess thereof, the “Additional Shared Tax Proceeds”), the Borrower shall, promptly (and no
later than seven (7) business days) after receipt thereof, repay an aggregate principal amount of Priming Loans equal to 50% of the Additional Shared Tax Proceeds (up to a total payment in respect of the Additional Shared Tax Proceeds not to
exceed $2.5 million in aggregate principal amount). For the avoidance of doubt, no amount shall be due and payable to the Priming Lenders in respect of Post-Closing Refunds received by the Loan Parties in excess of
$30.0 million.

		
	Representations and Warranties	  	Substantially consistent with the Existing Term Loan Agreement, subject to the Documentation Principles.
		
	Affirmative Covenants	  	Substantially consistent with the Existing Term Loan Agreement, subject to the Documentation Principles; provided, that (i) the Borrower shall provide to the Administrative Agent for distribution to the private-side
Priming Lenders all written reports required to be delivered to the agent and/or lenders under the ABL Facility (including all related to the borrowing base thereunder), (ii) (x) the Borrower shall not be required to deliver annual financial
statements for fiscal year 2019 or fiscal year 2020 with an audit opinion that is not subject to a “going concern” qualification, (y) with respect to fiscal year 2021, the Borrower shall not deliver an audit opinion subject to a
“going concern” qualification, unless such qualification relates solely to the Minimum Liquidity Covenant and (z) for fiscal year 2022 and thereafter, the Borrower shall not deliver an audit opinion subject to a “going
concern” qualification for any reason, and (iii) the Loan Parties shall use their reasonable best efforts to seek any Post-Closing Refunds to which any of the Loan Parties may be entitled as soon as possible, including by filing Form 1139
in order to expedite the receipt thereof. For the avoidance of doubt, all ABL Reports shall only be posted to the “private-side information” portion of any lender platform.

  
 53 

			
		
	Negative Covenants	  	 Substantially consistent with the Existing Term Loan Agreement, subject to the terms of Schedule 1 hereof and the Documentation
Principles; provided, that:
  

•   the Borrower shall not repay any principal of the remaining Existing Term Loan, except on
or after the date that is five (5) business days prior to the stated maturity thereof, and so long as (a) no Default or Event of Default shall have occurred and be continuing under the Priming Facility and (b) the Borrower (i) is
in compliance with the Minimum Liquidity Covenant (as defined below) on a pro forma basis immediately following and (ii) reasonably expects to be in pro forma compliance with the Minimum Liquidity Covenant for the calendar month immediately
succeeding such payment (based on reasonable projections of the Borrower delivered to the Priming Lenders), in each case, as certified by a responsible officer of the Borrower to the Priming Lenders prior to such payment;

 
 •   the Borrower shall not
make any prepayments of the Junior Facility or make amendments to the terms of the Junior Facility that are adverse to the Priming Lenders;
  

•   the Borrower may not borrow additional amounts under the Junior Facility, except
(a) as described above in connection with a PIK Increase Paydown or below with respect to the Cure Right and/or (b) to incur indebtedness permitted pursuant to the terms of the Priming Facility; and

 
 •   the Company shall not
consent to (or consent to any amendment to the ABL Credit Facility that would permit) the purchase by Towerbrook (or its affiliates or co-investors) of any loans or commitments under (i) the ABL Credit
Facility or (ii) the Existing Term Facility, except pursuant to the Purchase Right. For the avoidance of doubt, the Priming Facility will permit assignments to affiliates of the Borrower in a manner consistent with the Existing Term Loan
Facility.

		
	Financial Covenants	  	 First Lien Leverage Ratio: The Borrower shall not permit the First Lien Net Leverage Ratio (such ratio being tested net of the
Leverage Covenant Cash Netting Amount) to exceed:
  

•   for the fourth fiscal quarter of fiscal year 2021 and the first fiscal quarter of fiscal
year 2022, 5.00x;
  

•   for the second, third and fourth fiscal quarters of fiscal year 2022, 4.50x

 
 •   for the first fiscal
quarter of fiscal year 2023, 3.75x; and
  

•   thereafter, 3.50x;

  
 54 

			
		
		  	  
 provided, that the Borrower shall deliver a compliance
certificate for the fourth fiscal quarter of fiscal year 2021, on or before April 30, 2022, subject to a three (3) day grace period.
  

The First Lien Leverage Ratio covenant shall be subject to customary cure rights (the “Leverage Covenant Cure Right”) (including, without
limitation, being limited to no more than three (3) cures total and no more than two (2) in any four-quarter period); provided that such Leverage Covenant Cure Right may take the form of either (x) a common equity investment
made for not less than the fair market value of the common equity on the date of the exercise of the Leverage Covenant Cure Right (determined based on the seven-day volume weighted average price of such common
equity) or (y) an incremental Junior Facility borrowing.
  
 “Leverage
Covenant Cash Netting Amount” means, as of any date, the Available Cash Netting Amount not to exceed an amount equal to the aggregate principal amount of loans outstanding under the ABL Facility as of such date plus $25.0 million

 
 “Available Cash Netting Amount” means, as of any date,
(x) unrestricted cash and Cash Equivalents of the Loan Parties subject to a Lien securing the obligations under the Priming Facility on such date minus (y) an amount (not less than zero) equal to Post-Closing Refunds received by the Loan
Parties up to $30.0 million less the aggregate principal amount of Priming Loans repaid as a PIK Increase Paydown or as a result of Additional Shared Tax Proceeds; provided, that such amount shall be reduced by an amount equal to
two times the aggregate principal amount of Priming Loans repaid from Additional Shared Tax Proceeds.
  

Minimum Liquidity Covenant: The Borrower shall not permit Liquidity to be less than the Minimum Liquidity Amount, tested weekly; provided, that
(x) prior to the Trigger Payment, any default of such covenant shall not mature into an event of default unless such test is failed for two weeks in any consecutive four-week period, (y) following the Trigger Payment, any default of such
covenant shall immediately mature into an event of default and (z) the Minimum Liquidity Covenant may be cured no more than four (4) times total; provided, further, that any cure of the Minimum Liquidity Covenant shall be in
an amount not less than $3.0 million, regardless of any shortfall thereof.
  

“Available Liquidity Cash Amount” means, as of any date, (x) unrestricted cash and Cash Equivalents of the Loan Parties subject to a Lien
securing the obligations under the Priming Facility on such date minus (y) the Excluded Liquidity Cash Amount.
  

“Excluded Liquidity Cash Amount” means, as of any date of determination, an amount (not less than zero) equal to:

 
 (a) as of such date, Post-Closing Refunds received by the Loan
Parties up to $30.0 million less the aggregate principal amount of Priming Loans repaid as a PIK Increase Paydown or as a result of Additional Shared Tax Proceeds; provided, that such amount shall be reduced by an amount equal to
two times the aggregate principal amount of Priming Loans repaid from Additional Shared Tax Proceeds, plus

  
 55 

			
		  	  
 (b) cash proceeds from any, direct or indirect,
incurrence of debt by, issuance of equity interests (including preferred stock or disqualified capital stock or any capital contribution) from or other investment in the Borrower or any of its subsidiaries received at any time within the four
(4) calendar weeks prior to such date (other than any cure amounts with respect to the Minimum Liquidity Covenant or the First Lien Leverage Ratio covenant).
  

“Liquidity” means, as of any date of determination, the sum of the Available Liquidity Cash Amount plus Availability under and as
defined in the ABL Credit Agreement.
  
 “Minimum Liquidity Amount”
means (I) prior to the Trigger Payment, (x) from any time that more than 50% of the stores of Holdings and its Subsidiaries are required or recommended to be closed, and are so closed, by governmental mandates due to COVID-19, COVID-20 or any similar pandemic, until two months after the date on which no more than 5% of the stores of Holdings and its Subsidiaries are closed (excluding any
stores that have been permanently closed) (such period, the “Temporary Store Closure Period”), $10.0 million and (y) at all other times, $15.0 million and (II) following the Trigger Payment, $25.0 million.
During the Temporary Store Closure Period, the Borrower shall report, on a weekly basis together with delivery of the Liquidity reporting, the stores of Holdings and its Subsidiaries that are closed and open.

		
	Events of Default	  	To be substantially consistent with the terms of the Existing Term Loan Agreement, subject to the Documentation Principles.
		
	Financial and Other Reporting	  	To be substantially consistent with the terms of the Existing Term Loan Agreement, subject to the Documentation Principles; provided, that the Borrower shall provide unaudited monthly financial statements to the
Administrative Agent for distribution to the Priming Lenders within 20 days after the end of each fiscal month, commencing with the first full fiscal month following the Closing Date.
		
	Cash Flow Reporting	  	The Borrower will prepare and deliver to the Administrative Agent for distribution to the private-side Priming Lenders (i) on or prior to the Closing Date (the “Initial Budget”) and (ii) subsequent
thereto, on the Thursday of each fiscal week occurring after the Closing Date (the Initial Budget as updated, the “Applicable Budget”), in each case, a 13-week budget and cash flow forecast,
in a form substantially similar to the budget delivered by Borrower to certain Existing Term Lenders prior to the Closing Date, which shall (x) reflect, on a line-item basis, the projected receipts and disbursements of Holdings, the Borrower
and their subsidiaries (including all necessary and required expenses that such persons expect to incur) on a weekly basis, and (y) cover the 13-week period that commences with the fiscal week of Borrower
ending on the first Saturday occurring after the date on which the Applicable Budget is delivered and including the subsequent twelve (12) fiscal weeks.

  
 56 

			
		
		  	 On Thursday of each fiscal week, commencing with the Thursday following the first full fiscal week after the Closing Date (each such
Thursday, a “Variance Report Date”), the Borrower shall deliver to the Administrative Agent for distribution to the private-side Priming Lenders a variance report (each, a “Variance Report”) in form substantially
similar to the variance reports delivered by Borrower prior to the Closing Date and setting forth, in reasonable detail, on a line-by-line basis any differences between
actual receipts and disbursements for each line item for the prior fiscal week versus projected receipts and disbursements set forth in the Applicable Budget for each such line item for such prior fiscal week.

		
	Amendments and Voting	  	To be substantially consistent with the terms of the Existing Term Loan Agreement, subject to the Documentation Principles.
		
	Ratings	  	Within thirty (30) days after the Closing Date, the Borrower shall use commercially reasonable efforts to obtain a rating from Moody’s and from S&P with respect to the Priming Facility no later than thirty
(30) days after the Closing Date (but no specific rating shall be required); provided, that if no such rating is so obtained, the Borrower shall continue to use commercially reasonable efforts if requested by the Required Lenders.
		
	Release	  	Each Loan Party (on behalf of itself and its Affiliates) for itself and for its successors and assigns and for its past, present and future employees, agents, representatives (other than legal representatives), officers, directors,
shareholders, and trustees shall provide a customary release to each Priming Lender (in their capacity as such and as a Lender under the Existing Term Facility) and each of their Affiliates, and their respective partners, members, officers,
directors, employees, trustees, advisors, agents and controlling Persons, except with respect to intentional fraud, gross negligence or willful misconduct.
		
	Governing Law	  	State of New York
		
	Counsel to the Priming Lenders	  	Stroock & Stroock & Lavan LLP

  
 57 

 Schedule 1 

[*****] 

  
 58 

 EXHIBIT B 

Chapter 11 Term Sheet 

  
 59 

  

J.JILL INC. 

PREPACKAGED CHAPTER 11 TERM SHEET 
  

 
 THIS PREPACKAGED CHAPTER 11 TERM SHEET (INCLUDING ALL
EXHIBITS, SCHEDULES AND ANNEXES HERETO, AS MAY BE AMENDED, AMENDED AND RESTATED, SUPPLEMENTED OR OTHERWISE MODIFIED FROM TIME TO TIME IN ACCORDANCE WITH THE TERMS OF THE TRANSACTION SUPPORT AGREEMENT (AS DEFINED BELOW), THIS
“TERM SHEET”), WHICH IS ATTACHED AS EXHIBIT B TO THE TRANSACTION SUPPORT AGREEMENT, DATED AS OF AUGUST 31, 2020 (AS MAY BE AMENDED, AMENDED AND RESTATED, SUPPLEMENTED OR OTHERWISE MODIFIED FROM TIME TO TIME
IN ACCORDANCE WITH THE TERMS THEREOF, THE “TRANSACTION SUPPORT AGREEMENT”),1 PRESENTS THE PRINCIPAL TERMS OF A COMPREHENSIVE, PREPACKAGED CHAPTER 11 RESTRUCTURING (THE
“PREPACKAGED CHAPTER 11”) OF THE EXISTING DEBT AND OTHER OBLIGATIONS OF, AND THE EQUITY INTERESTS IN, THE DEBTORS WHICH SHALL BE CONSUMMATED PURSUANT TO A PREPACKAGED PLAN OF REORGANIZATION. THE IMPLEMENTATION OF THE TERMS OF THE
PREPACKAGED CHAPTER 11 AS REFLECTED HEREIN, AND ALL PREPACKAGED CHAPTER 11 DOCUMENTS (AS DEFINED BELOW), ARE SUBJECT TO THE AGREEMENTS AND CONSENTS REFLECTED IN THE TRANSACTION SUPPORT AGREEMENT. 

THIS TERM SHEET DOES NOT CONSTITUTE AN OFFER OF SECURITIES OR A SOLICITATION OF THE ACCEPTANCE OR REJECTION OF A CHAPTER 11 PLAN FOR PURPOSES OF SECTIONS 1125
AND 1126 OF THE BANKRUPTCY CODE. ANY SUCH OFFER OR SOLICITATION SHALL ONLY BE MADE IN COMPLIANCE WITH ALL APPLICABLE SECURITIES, BANKRUPTCY AND/OR OTHER APPLICABLE LAWS. 

THIS TERM SHEET DOES NOT INCLUDE A DESCRIPTION OF ALL OF THE TERMS, CONDITIONS AND OTHER PROVISIONS THAT ARE TO BE CONTAINED IN THE PREPACKAGED CHAPTER 11
DOCUMENTS, ALL OF WHICH REMAIN SUBJECT TO DISCUSSION AND NEGOTIATION AMONG THE PARTIES TO THE TRANSACTION SUPPORT AGREEMENT; PROVIDED, HOWEVER, THAT ALL SUCH TERMS, CONDITIONS AND OTHER PROVISIONS SHALL NOT, DIRECTLY OR INDIRECTLY,
CONTRADICT OR BE INCONSISTENT IN ANY MATERIAL RESPECT WITH ANY OF THE TERMS, CONDITIONS OR PROVISIONS HEREIN. 
  

	1 	 All defined terms shall have the meanings ascribed to them in the Transaction Support Agreement unless
otherwise defined herein. 

 THIS TERM SHEET IS BEING PROVIDED AS PART OF A COMPREHENSIVE COMPROMISE AND SETTLEMENT, EACH ELEMENT OF
WHICH IS CONSIDERATION FOR THE OTHER ELEMENTS AND AN INTEGRAL ASPECT OF THE PREPACKAGED CHAPTER 11. THIS TERM SHEET IS CONFIDENTIAL AND SUBJECT TO FEDERAL RULE OF EVIDENCE 408. NOTHING IN THIS TERM SHEET SHALL CONSTITUTE OR BE CONSTRUED AS AN
ADMISSION OF ANY FACT OR LIABILITY, A STIPULATION OR A WAIVER, AND EACH STATEMENT CONTAINED HEREIN IS MADE WITHOUT PREJUDICE SOLELY FOR SETTLEMENT PURPOSES, WITH A FULL RESERVATION AS TO ANY RIGHTS, REMEDIES OR DEFENSES OF THE PARTIES TO THE
TRANSACTION SUPPORT AGREEMENT. 
  

			
	MATERIAL TERMS OF THE PREPACKAGED CHAPTER 11 PROCESS
		
	Overview; Claims and Interests	  	 This Term Sheet contemplates the restructuring of the assets and liabilities of the Debtors pursuant to the Plan, which is to be confirmed by
the Bankruptcy Court through a prepackaged chapter 11 process.
 The Claims and Interests to be treated under the Plan include, among other Claims and
Interests, the following:
  

(a)   approximately $32.0 million outstanding principal amount of revolving loans, plus accrued
and unpaid interest, fees, costs and other amounts that may be due and payable under that certain ABL Credit Agreement dated as of May 8, 2015 (as amended, restated, amended and restated supplemented, or otherwise modified from time to time in
accordance with the terms thereof, the “ABL Credit Agreement”), by and among J.Jill, Inc. (as successor to Jill Holdings LLC), as Parent, Jill Acquisition LLC, as Company, certain subsidiaries of Jill Acquisition LLC from time to
time party thereto, the lenders party thereto (the “ABL Lenders”) and CIT Finance LLC, as administrative agent and collateral agent (the “ABL Agent”);

 
 (b)   approximately
$236.2 million outstanding principal amount of term loans, plus accrued and unpaid interest, fees, costs and other amounts that may be due and payable under that certain Term Loan Credit Agreement dated as of May 8, 2015 (as amended,
restated, amended and restated, supplemented or otherwise modified from time to time in accordance with the terms thereof, the “Existing Term Loan Agreement”), by and among Jill Acquisition LLC, J.Jill Inc. (as successor to Jill
Holdings LLC), the other guarantors from time to time party thereto, the lenders from time to time party thereto (the “Existing Term Lenders”) and Jefferies Finance LLC, as administrative agent and collateral agent (in such
capacity, the “Existing Agent”); and
  

(c)   the equity interests in J.Jill, Inc. (the “J.Jill Equity
Interests”).

			
	DIP Facility	  	 The Debtors shall obtain a senior secured superpriority
debtor-in-possession delayed draw term loan credit facility in an aggregate principal amount not to exceed $175,000,000 (the “DIP Facility Loans” and
such facility, the “DIP Facility”), which shall consist of (i) up to $75,000,000 of new money DIP Facility Loans (the “DIP New Money Loans”) and (ii) up to $100,000,000 of Existing Term Loans
“rolled” into DIP Facility Loans. The DIP New Money Loans shall be backstopped by certain Existing Term Lenders (the “Backstop Parties”) and participation in the DIP Facility shall be available to all Existing Term Lenders
that executed and delivered the Transaction Support Agreement prior to the Petition Date. The terms and conditions of the DIP Facility shall be consistent in all material respects with the terms and conditions set forth on Exhibit 1 attached hereto
(the “DIP Term Sheet”) and otherwise in form and substance reasonably acceptable to the Required Parties and the DIP Agent.
  

The lenders under the DIP Facility shall be referred to herein as the “DIP Lenders” and the administrative agent and collateral agent for the
DIP Facility shall be referred to herein as the “DIP Agent”.

	
	DEBT AND EQUITY SECURITIES AND OBLIGATIONS TO BE ISSUED UNDER THE PLAN
		
	New ABL Facility	  	 On the Plan Effective Date, the Debtors shall enter into a new revolving credit facility (the “New ABL Facility”) with
aggregate commitments of up to $50.0 million, which shall be used (a) to fund payments to be made under the Plan (including the repayment in full of the loans outstanding under the ABL Credit Agreement) and (b) to fund working capital
needs of the Debtors after the Plan Effective Date.
  
 The terms and conditions of the
New ABL Facility shall be in form and substance reasonably acceptable to the Required Parties and the agent for the New ABL Facility. The New ABL Facility shall be secured by fully perfected (a) first priority liens on, and security interests
in, all “ABL Facility Priority Collateral” (as defined in Initial Intercreditor (as defined in the ABL Credit Agreement)) and (b) second priority liens on, and security interests in, all “Term Loan Priority Collateral” (as
defined in Initial Intercreditor), in each case, subject to the Intercreditor Agreement (as defined below) and customary exclusions applicable to a facility of this type.

		
	New First Lien Term Loan Facility	  	On the Plan Effective Date, the Debtors shall enter into a new first lien term loan credit facility (the “New First Lien Term Loan Facility”) pursuant to which new first lien term loans (the “New First Lien
Term Loans” and, together with all other Obligations relating to the New First Lien Term Loans under the New First Lien Term Loan Facility, the “New First Lien Term Loan Obligations”) in an aggregate original principal
amount equal to (x) the aggregate outstanding principal amount of the DIP Facility on the Plan Effective Date less (y) the DIP Paydown Amount (as defined below). On the Plan Effective Date, each holder of DIP Facility Obligations shall
receive its pro rata share of the New First Lien Term Loans, as set forth below in the “Classified Claims and Interests” section of this Term Sheet. No actual funding shall occur on the Plan Effective Date in respect of the New
First Lien Term Loans.

			
		  	The terms and conditions of the New First Lien Term Loan Facility shall be consistent in all material respects with the terms and conditions set forth on Exhibit 2 attached hereto (the “New First Lien Term Loan Term
Sheet”) and otherwise in form and substance reasonably acceptable to the Required Parties and the agent for the New First Lien Term Loan Facility.
		
	Intercreditor Arrangements	  	On the Plan Effective Date, the New ABL Facility and the New First Lien Term Loan Facility shall be subject to an intercreditor and subordination arrangement (the “Intercreditor Agreement”) substantially similar to
the Initial Intercreditor (as defined in the Existing Term Loan Agreement) to achieve the lien priorities set forth herein with respect to the applicable collateral, and otherwise reasonably acceptable to the Required Parties and the applicable
agent(s) for such facilities.
		
	New Common Stock	  	On the Plan Effective Date, J.Jill Inc. shall issue new common stock (the “New Common Stock”), which New Common Stock shall be deemed validly issued, fully paid and
non-assessable.
	
	CLASSIFICATION AND TREATMENT OF CLAIMS
	
	Unclassified Claims
		
	DIP Claims	  	 Treatment. On the Plan Effective Date, each holder of an allowed Claim under the DIP Facility (collectively, the “DIP Facility
Claims”) shall receive its pro rata share of (i) cash, in an aggregate amount equal to the cash on the Debtors’ balance sheet as of the Plan Effective Date in excess of an amount to be agreed (the “DIP Paydown
Amount”), (ii) cash, in an amount equal to the accrued and unpaid interest on the DIP Facility as of the Plan Effective Date, (iii) New First Lien Term Loans and (iv) the Exit Equity Payment (as defined in the DIP Term Sheet)
(subject to dilution by the Equity Incentive Plan (as defined below)).
  
 Voting.
Not classified; non-voting.

		
	Administrative Claims	  	 Treatment. Except to the extent that a holder of an allowed administrative claim (collectively, the “Administrative
Claims”) and the Debtors, with the consent of the Required Parties, agree in writing to less favorable treatment for such Administrative Claim, such holder shall receive payment in full, in cash, of the unpaid portion of its allowed
Administrative Claim on the Plan Effective Date or as soon thereafter as reasonably practicable (or, if payment is not then due, on the due date of such allowed Administrative Claim).

 
 Administrative Claims shall include, among other things: (a) claims against the
Debtors arising under section 503(b) of the Bankruptcy Code; (b) allowed claims for reasonable fees and expenses of professionals retained in the Chapter 11 Cases with the approval of the Bankruptcy Court; and (c) all Transaction Expenses
in accordance with the terms and conditions of the Transaction Support Agreement.
  

Voting. Not classified; non-voting.

			
	Priority Tax Claims	  	 Treatment. All allowed claims against the Debtors under section 507(a)(8) of the Bankruptcy Code (collectively, the “Priority
Tax Claims”) shall be treated in accordance with section 1129(a)(9)(C) of the Bankruptcy Code.
  

Voting. Not classified; non-voting.

	
	Classified Claims and Interests
		
	Other Priority Claims	  	 Treatment. Except to the extent that a holder of an allowed claim described in section 507(a) of the Bankruptcy Code, other than a
Priority Tax Claim (collectively, the “Other Priority Claims”) and the Debtors, with the consent of the Required Parties, agree in writing to less favorable treatment for such Other Priority Claim, such holder shall receive payment
in full, in cash, of the unpaid portion of its allowed Other Priority Claim on the Plan Effective Date or as soon thereafter as reasonably practicable (or, if payment is not then due, on the due date of such Other Priority Claim).

 
 Voting. Unimpaired. Each holder of an Other Priority Claim shall be conclusively
deemed to have accepted the Plan pursuant to section 1126(f) of the Bankruptcy Code. Therefore, each holder of an allowed Other Priority Claim will not be entitled to vote to accept or reject the Plan.

		
	Other Secured Claims	  	 Treatment. Except to the extent that a holder of an allowed secured claim, other than an ABL Facility Claim (as defined below),
Existing Term Loan Claim (as defined below) or DIP Facility Claim (collectively, the “Other Secured Claims”), and the Debtors, with the consent of the Required Parties, agree in writing to less favorable treatment for such Other
Secured Claim, such holder shall receive either (i) payment in full, in cash, of the unpaid portion of its allowed Other Secured Claim or (ii) a transfer by conveyance, assignment or otherwise of the Debtors’ right, title and interest
in and to the collateral securing such Claim, in either case on the Plan Effective Date or as soon thereafter as reasonably practicable (or, if payment is not then due, on the due date of such Other Secured Claim).

 
 Voting. Unimpaired. Each holder of an allowed Other Secured Claim shall be
conclusively deemed to have accepted the Plan pursuant to section 1126(f) of the Bankruptcy Code. Therefore, each holder of an allowed Other Secured Claim will not be entitled to vote to accept or reject the
Plan.

			
	ABL Facility Claims	  	 Treatment. On the Plan Effective Date, each holder of an allowed Claim under the ABL Credit Agreement (collectively, the “ABL
Facility Claims”) shall either receive payment in full, in cash, of the unpaid portion of its allowed ABL Facility Claim or shall roll its ABL Facility Claims into the New ABL Facility.

 
 Voting. Unimpaired. Each holder of an allowed ABL Facility Claim shall be
conclusively deemed to have accepted the Plan pursuant to section 1126(f) of the Bankruptcy Code. Therefore, each holder of an allowed ABL Facility Claim will not be entitled to vote to accept or reject the Plan.

		
	Existing Term Loan Claims	  	 Treatment. On the Plan Effective Date, each holder of an allowed Claim arising under the Existing Term Loan Agreement (collectively,
the “Existing Term Loan Claims”) shall receive its pro rata share of 70% of the New Common Stock (subject to dilution by the Equity Incentive Plan).
  

Voting. Impaired. Each holder of an allowed Existing Term Loan Claim will be entitled to vote to accept or reject the Plan.

		
	General Unsecured Claims	  	 Treatment. On the Plan Effective Date or as soon thereafter as reasonably practicable, each holder of any allowed unsecured claim
against any of the Debtors that is not (a) an Administrative Claim, (b) a Priority Tax Claim, (c) an Other Priority Claim, (d) an Intercompany Claim, or (e) a Section 510(b) Claim (as defined below) (collectively, the
“General Unsecured Claims”), shall either (x) be reinstated or (y) receive, payment in full, in cash, of such holder’s allowed General Unsecured Claim.

 
 Voting. Unimpaired. Each holder of an allowed General Unsecured Claim shall be
conclusively deemed to have accepted the Plan pursuant to section 1126(f) of the Bankruptcy Code. Therefore, each holder of a General Unsecured Claim will not be entitled to vote to accept or reject the Plan.

		
	 Intercompany Claims
	  	 Treatment. On the Plan Effective Date, each claim held by a Debtor against another Debtor (collectively, “Intercompany
Claims”) shall either be: (a) reinstated as of the Plan Effective Date for tax purposes or (b) cancelled, in which case no distribution shall be made on account of such claim, in each case as determined by the Debtors with the
consent of the Required Consenting Lenders.
  
 Voting. Each holder of an
Intercompany Claim either shall be conclusively deemed to have accepted the Plan pursuant to section 1126(f) of the Bankruptcy Code or conclusively deemed to have rejected the Plan pursuant to section 1126(g) of the Bankruptcy Code. Therefore, each
holder of an Intercompany Claim will not be entitled to vote to accept or reject the Plan.

			
	Section 510(b) Claims	  	 Treatment. Holders of any claim subject to subordination under section 510(b) of the Bankruptcy Code (collectively,
“Section 510(b) Claims”) shall receive no recovery or distribution under the Plan.
  

Voting. Impaired. Each holder of a Section 510(b) Claim shall be conclusively deemed to have rejected the Plan pursuant to section 1126(g) of the
Bankruptcy Code. Therefore, each holder of a Section 510(b) Claim will not be entitled to vote to accept or reject the Plan.

		
	Intercompany Interests	  	 Treatment. On the Plan Effective Date, all equity interests held by a Debtor in another Debtor (each, an “Intercompany
Interest”) shall either be (a) reinstated as of the Plan Effective Date or (b) cancelled, in which case no distribution shall be made on account of such interest, in each case as determined by the Debtors with the consent of the
Required Consenting Lenders.
  
 Voting. Each holder of an Intercompany Interest
either shall be conclusively deemed to have accepted the Plan pursuant to section 1126(f) of the Bankruptcy Code or conclusively deemed to have rejected the Plan pursuant to section 1126(g) of the Bankruptcy Code. Therefore, each holder of an
Intercompany Interest will not be entitled to vote to accept or reject the Plan.

		
	J.Jill Equity Interests	  	 Treatment. Each holder of a J.Jill Equity Interest shall receive no distribution on account of its J.Jill Equity Interest.

 
 Voting. Impaired. Each holder of a J.Jill Equity Interest shall be conclusively
deemed to have rejected the Plan pursuant to section 1126(g) of the Bankruptcy Code. Therefore, each holder of a J.Jill Equity Interest will not be entitled to vote to accept or reject the Plan.

	
	GENERAL PROVISIONS
		
	Equity Incentive Plan	  	After the Plan Effective Date, the New Board (as defined below) may adopt an equity incentive plan (the “Equity Incentive Plan”) that provides for the issuance of options and/or other equity-based awards
(collectively, “EIP Awards”) exercisable for up to 10.0% of the New Common Stock, on a fully diluted basis, to management of the Debtors after the Plan Effective Date. The form of the EIP Awards, the participants in the Equity
Incentive Plan, the allocations of the EIP Awards to such participants (including the amount of allocations and the timing of the grant of the EIP Awards), and the terms and conditions of the EIP Awards (including vesting, exercise prices, base
values, hurdles, forfeiture, repurchase rights and transferability) shall be determined by the New Board in its sole discretion.

			
	KERP	  	The Company Parties may adopt a key employee retention plan (the “KERP”) that provides for awards (collectively, “KERP Awards”) to certain employees of the Company Parties. The form of the KERP Awards, the
participants in the KERP, the allocations of the KERP Awards to such participants (including the amount of allocations and the timing of the grant of the KERP Awards), and the terms and conditions of the KERP Awards (including vesting, exercise
prices, base values, hurdles, forfeiture, repurchase rights and transferability) shall be determined by the Company Parties; provided that any participant in the KERP must have a minimum of six (6) months of employment post-Plan
Effective Date in order for the KERP Award to vest. The KERP shall include a compensation program for the Chapter 11 Case process. The terms and provisions of the KERP shall be acceptable to the Required Consenting Lenders in their sole
discretion.
		
	Cancellation of Instruments, Certificates and Other Documents	  	On the Plan Effective Date, except to the extent otherwise provided above, all instruments, certificates, and other documents evidencing indebtedness or debt securities of, or Equity Interests in, any of the Debtors shall be
cancelled, and the obligations of the Debtors thereunder, or in any way related thereto, shall be discharged.
		
	Executory Contracts and Unexpired Leases	  	Except as otherwise set forth herein, [*****] executory contracts and unexpired leases shall be assumed or rejected (as the case may be), as determined by the Debtors, and with the consent of the Required Parties, during the
pendency of the Chapter 11 Cases.
		
	Avoidance Actions	  	All claims or causes of action pursuant to chapter 5 of the Bankruptcy Code to avoid a transfer of property or an obligation incurred by the Debtors shall be released by the Debtors pursuant to the Plan.
		
	Capital Structure	  	 On the Plan Effective Date, the debt and equity capital structure of the Debtors shall be consistent in all material respects with the
capital structure of the Debtors as set forth in this Term Sheet and the Transaction Support Agreement, unless otherwise agreed to by the Required Parties.
  

The New Common Stock shall not be listed for trading on a securities exchange, and none of the Debtors shall be required to file reports with the United States
Securities and Exchange Commission unless it is required to do so pursuant to the Exchange Act.

	
	COMPANY GOVERNANCE/ORGANIZATIONAL DOCUMENTS PROVISIONS/RELEASES
		
	New Board	  	The board of directors of J.Jill Inc. immediately after the Plan Effective Date (the “New Board”) shall be determined by the Required Consenting Lenders. The New Board may, from time to time, establish one or
more committees of the New Board, to exercise the powers and authority of the New Board.

			
	New Organizational Documents	  	 The new organizational documents of each of the Debtors shall be consistent in all material respects with the terms and conditions set forth
herein and shall be otherwise in form and substance reasonably acceptable to the Required Consenting Lenders (such new organizational documents, collectively, the “New Organizational Documents”).

 
 On the Plan Effective Date, the holders of the New Common Stock shall enter into a
customary stockholders agreement.

		
	Exemption from SEC Registration	  	The issuance of all securities under the Plan will be exempt from registration under section 1145 of the Bankruptcy Code to the extent permitted pursuant to section 1145 of the Bankruptcy Code.
		
	Debtor/Third Party Releases	  	The Plan shall contain the In-Court Release which, for the avoidance of doubt, shall exclude the Consenting Shareholders in the event that the Transaction Support Agreement is terminated with
respect to the Consenting Shareholders.
		
	Exculpation	  	Customary exculpation provisions.
		
	Discharge	  	Customary discharge provisions.
		
	Injunction	  	Customary injunction provisions.
		
	Tax Structure	  	To the extent reasonably practicable, the Prepackaged Chapter 11 shall be structured in a manner reasonably acceptable to the Required Parties, which minimizes any current cash taxes payable as a result of the consummation of the
Plan, and the terms of the Prepackaged Chapter 11 contemplated by this Term Sheet shall be reasonably acceptable to the Required Parties and structured to maximize the favorable tax attributes (including tax basis) of the Debtors going
forward.
	
	PLAN IMPLEMENTATION
		
	Conditions Precedent to the Plan Effective Date	  	 The Plan shall contain the following conditions precedent to the Plan Effective Date:

(a)   the Plan and all other Prepackaged Chapter 11 Documents shall be in form and substance
consistent in all material respects with this Term Sheet and otherwise reasonably acceptable to the Required Parties;
  

(b)   the Bankruptcy Court shall have entered an order confirming the Plan in form and substance
consistent in all material respects with this Term Sheet and otherwise reasonably acceptable to the Required Parties, and such order shall not have been stayed or modified or vacated on appeal;

  
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 (c)   the
Transaction Support Agreement shall not have been validly terminated as to all parties thereto;
  

(d)   the Debtors shall not be in default of the DIP Facility or the orders approving the DIP
Facility;
  
 (e)   all
Transaction Expenses shall have been paid in full, in cash, in accordance with the Transaction Support Agreement and the Plan;
  

(f)   the New Common Stock shall have been issued, and the Backstop Parties (as defined in the DIP
Term Sheet) shall have received the Put Option Equity Payment;
  

(g)   each of the New ABL Facility and the New First Lien Term Loan Facility shall have closed;
and
  
 (h)   there shall be no
ruling, judgment or order issued by any Governmental Entity making illegal, enjoining, or otherwise preventing or prohibiting the consummation of the Prepackaged Chapter 11.
  

The conditions precedent to the Plan Effective Date may not be waived without the written consent of the Required Parties.

 EXHIBIT 1 

DIP TERM SHEET 

 DIP Term Sheet 

Capitalized terms used but not otherwise defined in this DIP Term Sheet (this “DIP Term Sheet”) shall have the meanings
assigned thereto in the Prepackaged Chapter 11 Term Sheet (the “Chapter 11 Term Sheet”) to which this DIP Term Sheet is attached as Exhibit 1. 
  

			
	Borrower:	  	Jill Acquisition LLC (the “Borrower”), in its capacity as a debtor and debtor-in-possession in the Chapter 11 Cases (as defined in the
Transaction Support Agreement).
		
	Guarantors:	  	J. Jill, Inc. (“Holdings”) and each subsidiary of Holdings (other than the Borrower) that is a Debtor (as defined in the Transaction Support Agreement) in the Chapter 11 Cases (the “Guarantors” and,
together with the Borrower, the “Loan Parties”).
		
	DIP Agent:	  	A financial institution selected by the Required DIP Lenders (as defined below) and reasonably acceptable to the Borrower shall act as the administrative agent and collateral agent under the DIP Facility (as defined below) (the
“DIP Agent”) and will perform the duties customarily associated with such roles. The Borrower shall pay agency fees to the DIP Agent in an amount to be agreed between the Borrower and the DIP Agent.
		
	DIP Commitment:	  	 Prior to the Petition Date (as defined in the Transaction Support Agreement), certain Consenting Lenders (as defined in the Transaction
Support Agreement) (the “Initial DIP Commitment Parties”) shall enter into a commitment letter (the “Commitment Letter”) with the Borrower providing commitments for 100% of the DIP New Money Loans (as defined
below).
  
 This DIP Term Sheet does not represent a commitment to provide financing.
Such commitment will be set forth in the definitive loan documents (including the Commitment Letter) signed by the Initial DIP Commitment Parties and, as applicable, the DIP Lenders. Such Commitment Letter shall reflect the terms of this DIP Term
Sheet, and shall otherwise be in form and substance acceptable to the Initial DIP Commitment Parties.

		
	DIP Lenders:	  	The lenders under the DIP Facility (each a “DIP Lender”, and, collectively, the “DIP Lenders”) as of the Closing Date (as defined below) shall be (x) the Initial DIP Commitment Parties and
(y) one or more other Consenting Lenders (as defined in the Transaction Support Agreement) (and/or one or more of their respective designated affiliates and/or related funds or accounts) who elect to participate in the DIP Facility through a
syndication process (the “DIP Syndication”) to be conducted prior to the Petition Date. Each Consenting Lender (and/or one or more of their respective designated affiliates and/or related funds or accounts) may elect to subscribe
for commitments to provide DIP New Money Loans in the DIP Syndication on a pro rata basis based on the aggregate principal amount of the term loans under the Existing Term Loan Agreement (the “Existing Term Loans”) held by
such Consenting Lender as compared to the aggregate principal amount of Existing Term Loans held by all Consenting Lenders.

  
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	Required DIP Lenders:	  	DIP Lenders holding at least a majority of the aggregate outstanding principal amount of the DIP Loans and commitments in respect thereof (the “Required DIP Lenders”).
		
	Type and Amount of the DIP Facility:	  	 A senior secured superpriority debtor-in-possession delayed
draw term loan credit facility in an aggregate principal amount not to exceed $175,000,000 (the “DIP Facility Loans” and such facility, the “DIP Facility”), which shall consist of (i) $75,000,000 of new money DIP Facility
Loans (the “DIP New Money Loans”) and (ii) upon entry of the Final Order (as defined below), $100,000,000 of Existing Term Loans held by DIP Lenders to be “rolled” up on a pro rata basis into DIP
Facility Loans on a cashless, dollar-for-dollar basis. The commitments to make the DIP Loans are referred to herein as the “DIP Commitments”.

 
 The DIP New Money Loans shall (subject to the DIP Orders (as defined below) and the
borrowing conditions set forth in Exhibit A attached hereto) be incurred in amounts and at times to be agreed.
 Once repaid or prepaid, no portion of the
DIP Loans may be reborrowed.

		
	Use of Proceeds:	  	 Subject to the applicable DIP Orders and the other DIP Loan Documents (as defined below), proceeds of the DIP New Money Loans will be used
only for the following purposes and in each case in accordance with the Approved DIP Budget (as defined below): (a) to repay an aggregate principal amount of loans outstanding under the ABL Credit Agreement (together with accrued and unpaid interest
thereon and an amount required to cash collateralize any letters of credit issued thereunder) in an amount not to exceed an amount to be agreed; (b) to pay interest, fees, costs and expenses related to the DIP Facility (including the fees,
costs, disbursements and expenses of the DIP Agent and its counsel, financial advisors, consultants and other professionals (collectively, the “DIP Agent Advisors”)); (c) to pay the fees, costs and expenses of the estate
professionals retained in the Chapter 11 Cases and approved by the Bankruptcy Court; (d) to fund the Carve Out (as defined in Exhibit B attached hereto); (e) to pay the fees, costs, disbursements and expenses of the DIP Lenders (including the
fees and expenses of Stroock & Stroock & Lavan LLP (“Stroock”), as counsel to certain DIP Lenders, Guggenheim Securities, LLC (“Guggenheim”), as financial advisor to certain DIP Lenders, and such
other consultants, local counsel, financial advisors and other professionals as reasonably required by the Required DIP Lenders (together with Stroock and Guggenheim, collectively, the “DIP Lender Advisors”)); (f) to make all
permitted payments of costs of administration of the Chapter 11 Cases; (g) to pay such prepetition expenses as are consented to by the Required DIP Lenders and approved by the Bankruptcy Court; (h) to satisfy any adequate protection
obligations owing under the DIP Orders, as set forth below; (i) to make any other payments permitted by the Approved DIP Budget; and (j) for general corporate and working capital purposes of the Debtors during the Chapter 11 Cases.

 
 For the avoidance of doubt and notwithstanding anything to the contrary herein, no
proceeds of any DIP New Money Loans shall be used to investigate, challenge, object to or contest the validity, security, perfection, priority, extent or enforceability of any amount due under, or the liens or claims granted under or in connection
with the DIP Facility or the Existing Term Loan Agreement; provided that the creditors’ committee, if any, may use up to $35,000 of the proceeds in respect of the
foregoing.

  
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	Closing Date:	  	The date which shall be no later than one (1) business days after the date of entry by the Bankruptcy Court (as defined in the Chapter 11 Term Sheet) of the Interim Order (as defined below) (the “Interim Order Entry
Date”), subject to satisfaction (or waiver) of the applicable conditions precedent set forth in Exhibit A (the “Closing Date”).
		
	Maturity:	  	 All commitments under the DIP Facility will terminate, and all DIP Obligations (as defined below) will be immediately due and payable in full
in cash, on the earliest of:
  

(a)   three (3) calendar months following the Closing Date;

 
 (b)   the date that is fourteen
(14) calendar days after the Petition Date if the Final Order has not been entered by the Bankruptcy Court on or before such date;
  

(c)   the date of consummation of any sale of all or substantially all of the assets of any of the
Debtors pursuant to section 363 of the Bankruptcy Code;
  

(d)   the date of acceleration of the DIP Loans and the termination of the commitments under the DIP
Facility following the occurrence of an Event of Default (as defined below); and
  

(e)   the substantial consummation or effective date of the Plan or any chapter 11 plan;

 
 provided, that on the Plan Effective Date, each holder of a Superpriority DIP
Claim shall receive its pro rata share of (i) cash in an aggregate amount equal to the DIP Paydown Amount (as defined in the Chapter 11 Term Sheet), (ii) cash, in an amount equal to the accrued and unpaid interest on the DIP Facility as
of the Plan Effective Date, (iii) New First Lien Term Loans (as defined in the Chapter 11 Term Sheet) in an amount equal to the aggregate principal amount of the DIP Obligations less the DIP Paydown Amount, and (iv) the Exit Equity
Payment (as defined below).

		
	Amortization:	  	None.
		
	Interest:	  	 At all times prior to the occurrence of an Event of Default, interest on the DIP Loans shall accrue at a rate per annum equal (x) to
LIBOR plus 9.50% (subject to a 1.50% LIBOR Floor) or (y) a base rate plus 8.50% (subject to a 2.50% base rate floor), in each case, payable in cash, monthly in arrears (the “Interest Rate”).

 
 All interest shall be computed on the basis of a
360-day year consisting of twelve (12) 30-day months.
  

Upon the occurrence and during the continuance of an Event of Default, interest on the DIP Loans shall accrue at the applicable Interest Rate plus 2.00%
per annum and shall be payable solely in cash, on demand.

  
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	Upfront Payment:	  	The DIP Lenders shall receive from the Debtors a non-refundable payment (the “Upfront Payment”), payable in cash, in an aggregate amount of 2.50% of the aggregate principal
amount of the commitments in respect of the DIP New Money Loans. The Upfront Payment shall be earned, due, owing and payable in full on the Closing Date, shared by the DIP Lenders ratably.
		
	Exit Equity Payment:	  	The DIP Lenders shall receive from the Debtors a non-refundable payment (the “Exit Equity Payment”) of 20.00% of the New Common Stock (as defined in the Chapter 11 Plan Term
Sheet) (subject to dilution solely by the Equity Incentive Plan (as defined in the Chapter 11 Plan Term Sheet)). The Exit Equity Payment shall be fully earned on the Closing Date, and shall be due, owing and payable in full on the Plan Effective
Date, and shared by the DIP Lenders ratably.
		
	Backstop Payments:	  	 The Initial DIP Commitment Parties shall receive from the Debtors a nonrefundable backstop payment (the “Cash Backstop Option
Payment”) in an aggregate amount of 5.00% of the aggregate principal amount of the DIP New Money Loans, payable in cash. The Cash Backstop Option Payment shall be earned, due, owing and payable in full on the Closing Date, shared by Initial
DIP Commitment Parties ratably.
  
 The Initial DIP Commitment Parties shall further
receive from the Debtors a nonrefundable backstop payment (the “Equity Backstop Option Payment”) in an aggregate amount of 10.00% of the New Common Stock (subject to dilution solely by the Equity Incentive Plan). The Equity Backstop
Option Payment shall be fully earned on the Closing Date and shall be due, owing and payable in full on the Plan Effective Date, shared by Initial DIP Commitment Parties ratably.

 
 The DIP New Term Loans funded by the Initial DIP Commitment Parties shall be funded with
an original issue discount equal to 2.00 % of the aggregate principal amount of the commitments in respect of the DIP New Money Loans.

		
	Documentation:	  	The DIP Facility (including the terms and conditions applicable thereto) will be documented pursuant to and evidenced by (a) a credit agreement, negotiated in good faith, in form and substance substantially similar to the
Existing Term Loan Agreement, with such modifications as are (i) set forth herein, (ii) necessary to reflect the terms of the Interim Order or the Final Order, as applicable, (iii) usual and customary for debtor-in-possession financings of this kind and/or otherwise necessary or desirable to effectuate the financing contemplated hereby and/or to reflect the capital structure
and operational requirements of the Debtors and the existence and continuance of the Chapter 11 Cases (including customary representations and warranties, covenants and events of default for debtor-in-possession financings of this kind) and (iv) reasonably required by the Required DIP Lenders (in consultation with the DIP Lenders, except the DIP Lenders shall have a consent right with
respect to any proposed modification to the voting provisions, pro rata sharing provisions or payment waterfall and other customary “sacred” lender rights) (the “DIP Credit Agreement”), (b) an order (in form and substance
acceptable to the Required DIP Lenders and the DIP Agent in their sole discretion) entered by the Bankruptcy Court approving the DIP Facility on an interim basis (the “Interim Order”), (c) an order (in form and substance acceptable
to the Required DIP Lenders and the DIP Agent in their sole discretion) entered by the Bankruptcy Court approving the DIP Facility on a final basis (the “Final Order”, and together with the Interim Order, the “DIP
Orders”) and (d) as applicable, the related

  
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		  	notes, security agreements, collateral agreements, pledge agreements, control agreements, guarantees, mortgages and other legal documentation or instruments as are, in each case, usual and customary for debtor-in-possession financings of this type and/or reasonably necessary or desirable to effectuate the financing contemplated hereby (including such agreements, documents and
instruments constituting “Credit Documents” under, and as defined in, the Existing Term Loan Agreement) (all of the foregoing, together with the DIP Credit Agreement and the DIP Orders, collectively, the “DIP Loan
Documents”). The foregoing shall be collectively referred to herein as the “Documentation Principles”.
		
	Financial & Other Reporting:	  	The DIP Credit Agreement will contain customary testing of 13-week cash flow budgets on receipts and disbursements for transactions of this type, consistent with the Documentation Principles
and reasonably acceptable to the Required DIP Lenders
		
	Voluntary Prepayments:	  	The DIP Loans may not be prepaid, in whole or in part, at any time prior to the Maturity Date or the acceleration of the DIP Loans, except as set forth in the section entitled “Maturity” or with the consent of the
Requisite DIP Lenders.
		
	Mandatory Prepayments:	  	The DIP Credit Agreement will contain customary mandatory prepayments for transactions of this type, consistent with the Documentation Principles and reasonably acceptable to the Required DIP Lenders.
		
	Collateral:	  	 All obligations of the Borrower and the Guarantors to the DIP Agent and the DIP Lenders under the DIP Facility, including, without
limitation, all principal and accrued interest, premiums (if any), costs, fees, expenses, disbursements, reimbursement obligations, indemnities and any and all other amounts due or payable under the DIP Facility (collectively, the “DIP
Obligations”), shall be secured (subject to the Carve Out) by continuing, valid, binding, enforceable, non-avoidable, and automatically and fully and properly perfected liens and security interests
(such liens and securing interests securing the DIP Obligations, collectively, the “DIP Liens”) in all DIP Collateral (as defined below) on the following basis:

 
 (a)   pursuant to Bankruptcy
Code §364(c)(2), the DIP Liens shall have first-priority with respect to all DIP Collateral that is not subject to another valid, perfected, enforceable and non-avoidable lien or security interest as of
the Petition Date (such DIP Collateral, the “Unencumbered Assets”); and
  

(b)   pursuant to Bankruptcy Code §364(c)(3) and §364(d)(1), the DIP Liens on all DIP
Collateral other than Unencumbered Assets shall rank:
  
 (x) junior
only to valid, unavoidable and enforceable liens or security interests on such DIP Collateral existing on the Petition Date (other than a lien securing the Existing Term Loans) which are (A) fully and properly perfected as of the Petition Date
to the extent required by Bankruptcy Code §546(b) or (B) perfected subsequent to the Petition Date, in the manner and to the extent permitted by Bankruptcy Code §546(b), in each case, solely to the extent that such liens and security
interests are permitted to be senior to the DIP Liens on such DIP Collateral pursuant to the DIP Orders (“Permitted Prior Liens”); and solely with respect to any assets that are or would constitute ABL Priority Collateral, the liens
thereon securing the ABL Credit Agreement and the adequate protection liens granted under the DIP Orders in favor of the ABL Credit Agreement in ABL Priority Collateral (“ABL Priority Liens”);
and

  
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		  	 (y) senior to any and all other liens on and security interests in such DIP Collateral that also constitutes collateral
securing the Existing Term Loan Agreement, subject only Permitted Prior Liens and ABL Priority Liens.
  

The DIP Liens shall be effective and perfected as of the entry of the Interim Order and without requiring the execution, filing or recording of mortgages,
security agreements, pledge agreements, control agreements, financing statements or other agreements or instruments, or the taking of any action to obtain possession or control of any collateral. However, the Required DIP Lenders may, in their sole
discretion, require the execution, filing or recording of any or all of the documents described in the preceding sentence and/or the taking of any action so that the DIP Agent obtains possession or control of any collateral (other than ABL Priority
Collateral).
  
 As used herein:

 
 “ABL Priority Collateral” means “ABL Facility Priority
Collateral”, as such term is defined in the Intercreditor Agreement, dated as of May 8, 2015, by and among Holdings, the Borrower, the other grantors from time to time party thereto, CIT Finance LLC, as ABL Facility Administrative Agent
and as ABL Facility Collateral Agent, and Jefferies Finance LLC, as Term Loan Administrative Agent and as Term Loan Collateral Agent (each, as defined below).
  

“DIP Collateral” means all assets and properties of the Debtors (whether tangible or intangible; whether real, personal, or mixed; whether
owned by, or owing to, the Debtors on the Petition Date, or acquired by or arising in favor of the Debtors after the Petition Date (including under any trade names, styles, or derivations thereof) and whether owned or consigned by or to, or leased
from or to, or thereafter acquired by, the Debtors, and regardless of where located, before or after the Petition Date, including, without limitation, all assets securing the ABL Credit Agreement and the Existing Term Loan Credit Agreement and,
subject to entry of the Final Order all proceeds of claims and causes of action arising under chapter 5 of the Bankruptcy Code; provided, however, that the DIP Collateral shall not include certain immaterial assets and certain other
customarily excluded assets (collectively, the “Excluded Assets”).

		
	Superpriority DIP Claims:	  	Effective immediately upon entry of the Interim Order, all of the claims of the DIP Agent and the DIP Lenders on account of the DIP Obligations shall be entitled to the benefits of section 364(c)(1) and 364(e) of the Bankruptcy
Code, and shall have superpriority, in each of the Chapter 11 Cases or any successor cases, over any and all administrative expenses of the kind that are specified in or ordered pursuant to sections 105, 326, 328, 330, 331, 364(c)(1), 365, 503(a),
503(b), 506(c), 507(a), 507(b), 546(c), 726, 1113, 1114 or any other provisions of the Bankruptcy Code (the “Superpriority DIP Claims”), subject only to the Carve Out.

  
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		  	The Superpriority DIP Claims will, at all times during the period that the DIP Loans remain outstanding and have not otherwise been indefeasibly paid in full or rolled into the New First Lien Term Loans on the Plan Effective Date,
each as described in the section entitled “Maturity”, remain senior in priority to all other claims or administrative expenses, subject only to the Carve Out. The Superpriority DIP Claims shall have recourse against each of the Debtors on
a joint and several basis, and shall be payable from and have recourse to all DIP Collateral (subject to the terms of the DIP Orders).
		
	Carve-Out:	  	As set forth in Exhibit B attached hereto.
		
	Representations and Warranties:	  	The DIP Credit Agreement will contain customary representations and warranties for transactions of this type, consistent with the Documentation Principles and reasonably acceptable to the Required DIP Lenders.
		
	Chapter 11 Cases Milestones:	  	 The Debtors shall be required to comply with the following Milestones (the “Milestones”):

 
 (a)   no later than the date
which is the later of (A) October 3, 2020 or (B) one (1) business day after concluding the solicitation of votes on the Plan, the Petition Date shall have occurred (and, for the avoidance of doubt, on such Petition Date the
Company Parties shall have filed with the Bankruptcy Court the Plan, the Disclosure Statement and other Solicitation Materials, and a motion scheduling a combined hearing on the Plan and Disclosure Statement and other Solicitation Materials (each as
defined in the Transaction Support Agreement));
  

(b)   within two (2) days after the Petition Date, the Bankruptcy Court shall have entered the
Interim Order;
  
 (c)   within
five (5) Business Days after the Petition Date, the Company Parties shall have filed with the Bankruptcy Court the Plan Supplement (as defined in the Transaction Support Agreement);

 
 (d)   within fourteen
(14) days after the Petition Date, the Confirmation Order and all other related relief required to be obtained from the Bankruptcy Court to implement the Restructuring Transactions through the In-Court
Restructuring shall have been entered and/or granted, as applicable, by the Bankruptcy Court;
  

(a)   within fourteen (14) days after the Petition Date, the Bankruptcy Court shall have
entered the Final Order;
  

(b)   the Plan Effective Date shall have occurred within thirty (30) calendar days after the
Petition Date (the “Outside Date”).

		
	Affirmative Covenants:	  	The DIP Credit Agreement will contain customary affirmative covenants for transactions of this type, consistent with the Documentation Principles and reasonably acceptable to the Required DIP
Lenders.

  
 77 

			
		
	Negative Covenants:	  	The DIP Credit Agreement will contain customary negative covenants for transactions of this type, consistent with the Documentation Principles and acceptable to the Required DIP Lenders.
		
	Financial Covenant:	  	None.
		
	Events of Default:	  	The DIP Credit Agreement will contain customary events of default for transactions of this type, consistent with the Documentation Principles and reasonably acceptable to the Required DIP Lenders (collectively, “Events of
Default”).
		
	Adequate Protection:	  	 The holders of ABL Facility Claims shall receive adequate protection consisting of (i) reporting in form and substance acceptable to the
ABL Lenders, (ii) post-petition replacement liens (senior to the DIP Liens only with respect to DIP Collateral constituting ABL Priority Collateral and otherwise junior), (iii) superpriority claims (senior to the Superpriority DIP Claims
only with respect to DIP Collateral constituting ABL Priority Collateral and otherwise junior), and (iv) payment of reasonable professional fees.
  

The holders of Exiting Term Loan Claims shall receive adequate protection consisting of (i) reporting in form and substance reasonably acceptable to the
Term Lenders, (ii) post-petition replacement liens (junior to the DIP Liens), (iii) superpriority claims (junior to the Superpriority DIP Claims) and (iv) payment of reasonable professional fees.

		
	Marshalling; 552(b) Waiver and Waiver of 506(c) Claims:	  	The DIP Orders shall provide that, subject to entry of the Final Order: (i) in no event shall the DIP Agent, the DIP Lenders or the secured parties under the Existing Term Loan Agreement be subject to the equitable doctrine of
“marshaling” or any similar doctrine with respect to the DIP Collateral, as applicable (the “Marshaling Waivers”); provided that the Borrower shall use commercially reasonable efforts to cause the Interim
Order to include the Marshaling Waivers with respect to the DIP Agent and the DIP Lenders, (ii) approve the waiver of all claims under section 506(c) of the Bankruptcy Code against the DIP Agent, the DIP Lenders or the secured parties under the
Existing Term Loan Agreement (the “506(c) Waivers”); provided that the Borrower shall use commercially reasonable efforts to cause the Interim Order to include the 506(c) Waivers with respect to the DIP Agent and the DIP
Lenders and (iii) the secured parties under the Existing Term Loan Agreement shall be entitled to all rights and benefits of section 552(b) of the Bankruptcy Code, and that the “equities of the case” exception shall not apply to such
persons. Notwithstanding anything in the Transaction Support Agreement to the contrary, the failure to include the Marshaling Waiver or the 506(c) Waiver in the Interim Order shall not trigger a termination event pursuant to Section 13 of the
Transaction Support Agreement.
		
	Conditions Precedent:	  	The effectiveness of the DIP Credit Agreement and the other DIP Loan Documents and the agreements of the Initial DIP Commitment Parties under the Commitment Letter and of the DIP Lenders under the DIP Loan Documents, and the closing
of, and funding under, the DIP Facility shall, in each case, be subject to satisfaction (or waiver by Required DIP Lenders) of the conditions precedent set forth on Exhibit A.

  
 78 

			
		
	Rating:	  	Within thirty (30) days after the Closing Date, the Borrower shall obtain, or shall have used commercially reasonable efforts to obtain, a rating from Moody’s and from S&P with respect to the DIP Facility (but no
specific rating shall be required); provided, that if no such rating is obtained by such date the Borrower shall continue to use commercially reasonable efforts to obtain such rating if requested by the Required DIP Lenders.
		
	Governing Law:	  	The Debtors submit to the exclusive jurisdiction and venue of the Bankruptcy Court and waive any right to trial by jury. New York law shall govern the DIP Facility.
		
	Counsel to the Required DIP Lenders:	  	Stroock & Stroock & Lavan LLP.

  
 79 

 EXHIBIT A 

Conditions Precedent 
  

	1)	 Conditions to Closing Date and borrowing the Initial DIP Loan on the Closing Date. 

 

	 	a)	 DIP Loan Documents shall be in form and substance reasonably satisfactory to the Required DIP Lenders and the
DIP Agent and consistent with this DIP Term Sheet, and all DIP Loan Documents required to be executed by the Closing Date shall have been executed and delivered to the DIP Agent. 

 

	 	b)	 All fees, costs, disbursements and expenses of the DIP Agent, the DIP Agent Advisors, the DIP Lenders and the
DIP Lender Advisors due under the DIP Credit Agreement shall have been paid in full in cash or shall be so paid on the Closing Date from the proceeds of the Initial DIP Loans. 

 

	 	c)	 The DIP Agent shall have received an executed legal opinion of Kirkland & Ellis LLP, special New York
counsel to the Loan Parties. 

  

	 	d)	 The DIP Agent shall have received (i) a secretary’s (or other officer’s) certificate of the
Borrower and each of the other Loan Parties, dated as of the Closing Date, with customary and appropriate insertions and attachments; and (ii) a customary closing officer’s certificate of the Borrower. 

 

	 	e)	 The DIP Lenders shall have received from the Borrower and each of the Loan Parties, at least three
(3) Business Days prior to the Closing Date, (i) documentation and other information requested by any DIP Lender a reasonable period prior to the required delivery date that is required by regulatory authorities under applicable “know
your customer” and anti-money laundering rules and regulations, including the USA Patriot Act and (ii) if the Borrower qualifies as a “legal entity customer” under the beneficial ownership regulations, the DIP Lenders shall have
received from the Borrower, at least one (1) Business Day prior to the Closing Date, a beneficial ownership certification in relation to the Borrower. 

  

	 	f)	 The Interim Order shall have been entered by the Bankruptcy Court and shall be in full force and effect, which
Interim Order shall be in full force and effect and shall not have been reversed, vacated or stayed, and shall not have been amended, supplemented or otherwise modified without the prior written consent of the Required DIP Lenders.

  

	 	g)	 The DIP Agent and the DIP Lenders shall have received the Initial DIP Budget, which shall be in form and
substance acceptable to the Required DIP Lenders (which may be communicated via email by Guggenheim). 

  

	 	h)	 The Plan shall have been filed with the Bankruptcy Court and each other Milestone that is required to be
complied with prior to or concurrently with entry of the Interim Order shall have been complied with. 

  

	 	i)	 The DIP Agent shall have a fully perfected lien on the DIP Collateral to the extent required by the DIP Loan
Documents and the Interim Order, having the priorities set forth in the Interim Order. 

  
 80 

	 	j)	 Subject to post-closing requirements, each Uniform Commercial Code financing statement and each intellectual
property security agreement required by the DIP Loan Documents to be filed in order to create in favor of the DIP Agent a perfected lien on the DIP Collateral having the priorities set forth in the Orders shall have been filed.

  

	 	k)	 Subject to post-closing requirements, the DIP Agent shall have received the certificates, if any, representing
the shares of pledged securities held by a Loan Party pledged pursuant to the DIP Loan Documents. 

  

	 	l)	 Subject to post-closing requirements, the DIP Agent shall have been named as an additional insured with respect
to liability policies (other than worker’s compensation policies and public liability policies) and the DIP Agent shall be named as loss payee with respect to the property insurance (other than public property policies) maintained by the
Borrower and each other Loan Party. 

  

	 	m)	 The DIP Agent shall have received a legal, valid and binding copy of an amendment to the Initial Intercreidtor
Agreement, which shall be in form and substance acceptable to the Required DIP Lenders. 

  

	 	n)	 The Closing Date shall have occurred on or before the date that is no later than one (1) business day
after the date of entry of the Interim Order. 

  

	2)	 Conditions to further borrowings. 

 

	 	a)	 The Final Order shall have been entered by the Bankruptcy Court by the date that is thirty (30) days after
the Petition Date and shall be in full force and effect, which shall be in full force and effect and shall not have been reversed, vacated or stayed, and shall not have been amended, supplemented or otherwise modified without the prior written
consent of the Required DIP Lenders. 

  

	 	b)	 The Confirmation Order shall have been entered by the Bankruptcy Court by the date that is thirty
(30) days after the Petition Date, or as soon as reasonably practicable thereafter, and shall be in full force and effect. 

  

	3)	 Conditions to each borrowing. 

 

	 	a)	 Each of the representations and warranties made by any Loan Party in or pursuant to the DIP Loan Documents
shall be true and correct in all material respects (and in all respects if any such representation or warranty is already qualified by materiality or material adverse effect), in each case on and as of such date as if made on and as of such date
except to the extent that such representations and warranties relate to an earlier date, in which case such representations and warranties shall be true and correct in all material respects (and in all respects if any such representation or warranty
is already qualified by materiality or material adverse effect) as of such earlier date. 

  

	 	b)	 There shall be no “Default” or Event of Default under the DIP Credit Agreement.

  

	 	c)	 The DIP Agent shall have received a copy of the Transaction Support Agreement, duly executed and delivered by
each of the parties thereto, and such Transaction Support Agreement shall be in full force and effect and shall not have been amended, waived or otherwise modified without the prior written consent of the Required DIP Lenders. The Transaction
Support Agreement shall be in full force and effect, and no breach, default or event of default shall have occurred and be continuing thereunder. 

  
 81 

	 	d)	 All first day motions filed by the Loan Parties on the Petition Date and related orders entered by the
Bankruptcy Court in the Chapter 11 Cases shall be in form and substance satisfactory to the Required DIP Lenders and the DIP Agent. 

  

	 	e)	 Subject to post-closing requirements, the DIP Agent shall have valid, binding, enforceable, non-avoidable, and automatically and fully and properly perfected liens on, and security interests in, the Collateral, in each case, having the priorities set forth in the DIP Orders and subject only to the payment
in full in cash of any amounts due under the Carve-Out. 

  

	 	f)	 The DIP Agent shall have received a signed borrowing request from the Borrower. 

  
 82 

 EXHIBIT B 

Carve-Out 

1. Carve Out. 
 (a)
Carve Out. As used in this [Final/Interim] Order, the “Carve Out” means the sum of (i) all fees required to be paid to the Clerk of the Court and to the Office of the United States Trustee under section
1930(a) of title 28 of the United States Code plus interest at the statutory rate (without regard to the notice set forth in (iii) below); (ii) all reasonable fees and expenses up to $[*****] incurred by a trustee under section
726(b) of the Bankruptcy Code (without regard to the notice set forth in (iii) below); (iii) to the extent allowed at any time, whether by interim order, procedural order, or otherwise, all unpaid fees and expenses (the
“Allowed Professional Fees”) incurred by persons or firms retained by the Debtors pursuant to section 327, 328, or 363 of the Bankruptcy Code (the “Debtor Professionals”) and the Creditors’ Committee pursuant
to section 328 or 1103 of the Bankruptcy Code (the “Committee Professionals” and, together with the Debtor Professionals, the “Professional Persons”) at any time before or on the first business day following
delivery by the DIP Agent (acting at the direction of the Required DIP Lenders) or Required DIP Lenders of a Carve Out Trigger Notice (as defined below), whether allowed by the Court prior to or after delivery of a Carve Out Trigger Notice; and
(iv) Allowed Professional Fees of Professional Persons in an aggregate amount not to exceed $[*****] incurred after the first business day following delivery by the DIP Agent (acting at the direction of the Required DIP Lenders) or Required DIP
Lenders of the Carve Out Trigger Notice, to the extent allowed at any time, whether by interim order, procedural order, or otherwise (the amounts set forth in this clause (iv) being the “Post-Carve Out Trigger Notice
Cap”). For purposes of the foregoing, “Carve Out Trigger Notice” shall mean a written notice delivered by email (or other electronic means) by the DIP Agent (acting at the direction of the Required DIP Lenders) or
Required DIP Lenders to the Debtors, their lead restructuring counsel, the U.S. Trustee, and counsel to the Creditors’ Committee, which notice may be delivered following the occurrence and during the continuation of an Event of Default and
acceleration of the DIP Obligations under the DIP Facility, stating that the Post-Carve Out Trigger Notice Cap has been invoked.
 (b)
Carve Out Reserves. On the day on which a Carve Out Trigger Notice is given by the DIP Agent (acting at the direction of the Required DIP Lenders) or Required DIP Lenders to the Debtors with a copy to counsel to the Creditors’
Committee (the “Termination Declaration Date”), the Carve Out Trigger Notice shall (i) be deemed a draw request and notice of borrowing by the Debtors for [Revolving/Delayed Draw Term] Loans under the [Revolving/Delayed Draw
Term] Loan Commitment (each, as defined in the [DIP Credit Agreement]) (on a pro rata basis based on the then outstanding [Revolving/Delayed Draw Term] Loan Commitments), in an amount equal to the then unpaid amounts of the Allowed Professional Fees
(any such amounts actually advanced shall constitute [Revolving/Delayed Draw Term] Loans) and (ii) also constitute a demand to the Debtors to utilize all cash on hand as of such date and any available cash thereafter held by any Debtor to fund
a reserve in an amount equal to the then unpaid amounts of the Allowed Professional Fees. The Debtors shall deposit and hold such amounts in a segregated account at the DIP Agent in trust to pay such then unpaid Allowed

  
 83 

 
Professional Fees (the “Pre-Carve Out Trigger Notice Reserve”) prior to any and all other claims. On the Termination Declaration
Date, the Carve Out Trigger Notice shall also (i) be deemed a request by the Debtors for [Revolving/Delayed Draw Term] Loans under the [Revolving/Delayed Draw Term] Loan Commitment (on a pro rata basis based on the then outstanding
[Revolving/Delayed Draw Term] Loan Commitments), in an amount equal to the Post-Carve Out Trigger Notice Cap (any such amounts actually advanced shall constitute [Revolving/Delayed Draw Term] Loans) and
(ii) constitute a demand to the Debtors to utilize all cash on hand as of such date and any available cash thereafter held by any Debtor, after funding the Pre-Carve Out Trigger Notice Reserve, to fund a
reserve in an amount equal to the Post-Carve Out Trigger Notice Cap. The Debtors shall deposit and hold such amounts in a segregated account at the DIP Agent in trust to pay such Allowed Professional Fees
benefiting from the Post-Carve Out Trigger Notice Cap (the “Post-Carve Out Trigger Notice Reserve” and, together with the Pre-Carve Out Trigger
Notice Reserve, the “Carve Out Reserves”) prior to any and all other claims. On the third business day after the DIP Agent gives such notice to such [Revolving/Delayed Draw Term] Lenders (as defined in the DIP Credit
Agreement), notwithstanding anything in the DIP Credit Agreement to the contrary, including with respect to the existence of a Default (as defined in the DIP Credit Agreement) or Event of Default, the failure of the Debtors to satisfy any or all of
the conditions precedent for [Revolving/Delayed Draw Term] Loans under the [Revolving/Delayed Draw Term] Facility, any termination of the [Revolving/Delayed Draw Term] Loan Commitments following an Event of Default, or the occurrence of the Maturity
Date, each [Revolving/Delayed Draw Term] Lender with an outstanding Commitment (on a pro rata basis based on the then outstanding Commitments) shall make available to the DIP Agent such [Revolving/Delayed Draw Term] Lender’s pro rata share with
respect to such borrowing in accordance with the [Revolving/Delayed Draw Term] Facility. All funds in the Pre-Carve Out Trigger Notice Reserve shall be used first to pay the obligations set forth in
clauses (i) through (iii) of the definition of Carve Out set forth above (the “Pre-Carve Out Amounts”), but not, for the avoidance of doubt, the Post-Carve Out Trigger Notice Cap,
until paid in full, and then, to the extent the Pre-Carve Out Trigger Notice Reserve has not been reduced to zero, to pay the [DIP Agent] for the benefit of the [DIP Lenders], unless the [DIP Obligations] have
been indefeasibly paid in full, in cash, and all Commitments have been terminated, in which case any such excess shall be paid to the [Prepetition Secured Creditors] in accordance with their rights and priorities as of the Petition Date. All
funds in the Post-Carve Out Trigger Notice Reserve shall be used first to pay the obligations set forth in clause (iv) of the definition of Carve Out set forth above (the “Post-Carve Out Amounts”), and then, to the extent the Post-Carve Out Trigger Notice Reserve has not been reduced to zero, to pay the [DIP Agent] for the benefit of the [DIP Lenders], unless the [DIP Obligations] have been indefeasibly paid in full, in cash, and all
Commitments have been terminated, in which case any such excess shall be paid to the [Prepetition Secured Creditors] in accordance with their rights and priorities as of the Petition Date. Notwithstanding anything to the contrary in the [DIP
Documents], or this [Final/Interim] Order, if either of the Carve Out Reserves is not funded in full in the amounts set forth in this paragraph [•], then, any excess funds in one of the Carve Out Reserves following the payment of the Pre-Carve Out Amounts and Post-Carve Out Amounts, respectively, shall be used to fund the other Carve Out Reserve, up to the applicable amount set forth in this paragraph [•], prior to making any payments to
the [DIP Agent] or the [Prepetition Secured Creditors], as applicable. For the avoidance of doubt, notwithstanding anything to the contrary contained herein, nothing herein shall require the [DIP Lenders] to advance or fund DIP Loans in an aggregate
amount greater than $[*****], after taking into 

  
 84 

 
account any DIP Loans previously advanced and any netted fees or original issue discount or other premiums payable to the [DIP Lenders]. Notwithstanding anything to the contrary in the [DIP
Documents] or this [Final/Interim] Order, following delivery of a Carve Out Trigger Notice, the [DIP Agent] and the [Prepetition Secured Agent] shall not sweep or foreclose on cash (including cash received as a result of the sale or other
disposition of any assets) of the Debtors until the Carve Out Reserves have been fully funded, but shall have a fully perfected, non-avoidable security interest in any residual interest in the Carve Out
Reserves, with any excess paid to the [DIP Agent] for application in accordance with the [DIP Documents]. Further, notwithstanding anything to the contrary in this [Final/Interim] Order, (i) disbursements by the Debtors from the Carve Out
Reserves shall not constitute [Loans] (as defined in the [DIP Credit Agreement]) or increase or reduce the [DIP Obligations], (ii) the failure of the Carve Out Reserves to satisfy in full the Allowed Professional Fees shall not affect the
priority of the Carve Out, and (iii) in no way shall the Initial Budget, Budget, Carve Out, Post-Carve Out Trigger Notice Cap, Carve Out Reserves, or any of the foregoing be construed as a cap or limitation on the amount of the Allowed
Professional Fees due and payable by the Debtors. For the avoidance of doubt and notwithstanding anything to the contrary in this [Final/Interim] Order, the DIP Facility, or in any [Prepetition Secured Facilities], the Carve Out shall be senior
to all liens and claims securing the [DIP Facility], the Adequate Protection Liens, and the 507(b) Claim, and any and all other forms of adequate protection, liens, or claims securing the [DIP Obligations] or the [Prepetition Secured Obligations].

 (c) Payment of Allowed Professional Fees Prior to the Termination Declaration Date. Any payment or reimbursement made prior to
the occurrence of the Termination Declaration Date in respect of any Allowed Professional Fees shall not reduce the Carve Out. 
 (d) No
Direct Obligation To Pay Allowed Professional Fees. None of the [DIP Agent], [DIP Lenders], or the [Prepetition Secured Creditors] shall be responsible for the payment or reimbursement of any fees or disbursements of any Professional Person
incurred in connection with the Chapter 11 Cases or any successor cases under any chapter of the Bankruptcy Code. Nothing in this [Final/ Interim] Order or otherwise shall be construed to obligate the [DIP Agent], the [DIP Lenders], or the
[Prepetition Secured Creditors], in any way, to pay compensation to, or to reimburse expenses of, any Professional Person or to guarantee that the Debtors have sufficient funds to pay such compensation or reimbursement. 

(e) Payment of Carve Out On or After the Termination Declaration Date. Any payment or reimbursement made on or after the occurrence
of the Termination Declaration Date in respect of any Allowed Professional Fees shall permanently reduce the Carve Out on a dollar-for-dollar basis. Any funding of
the Carve Out shall be added to, and made a part of, the DIP Obligations secured by the DIP Collateral and shall be otherwise entitled to the protections granted under this [Final/Interim] Order, the DIP Documents, the Bankruptcy Code, and
applicable law. 
 (f) Objection Rights. Nothing contained herein is intended to constitute, nor shall be construed as consent to, the
allowance of any Professional Person’s fees, costs or expenses by any party and shall not affect the rights of the [DIP Agent], the [DIP Lenders] or the [Prepetition Secured Creditors]to object to the allowance of any such amounts incurred or
requested. 

  
 85 

 EXHIBIT 2 

NEW FIRST LIEN TERM LOAN TERM SHEET 

  
 86 

 New First Lien Term Loan Term Sheet 

Capitalized terms used but not otherwise defined in this New First Lien Term Loan Term Sheet (this “New First Lien Term Loan Term
Sheet”) shall have the meanings assigned thereto in the Prepackaged Chapter 11 Term Sheet (the “Chapter 11 Term Sheet”) to which this New First Lien Term Loan Term Sheet is attached as Exhibit 2. 

 

			
	Borrower:	  	Jill Acquisition LLC, as reorganized pursuant to the Plan (as defined in the Transaction Support Agreement) (the “Borrower”).
		
	Guarantors:	  	J.Jill, Inc., as reorganized pursuant to the Plan (“Holdings”), and all direct and indirect domestic and foreign subsidiaries of Holdings and the Borrower, subject to customary exclusions (the
“Guarantors” and together with the Borrower, the “Loan Parties”); provided that no actions (with respect to the creation or perfection of any security interest) shall be required to be taken outside of the US
and no non-US security documents shall be required.
		
	Agent:	  	A financial institution to be selected by the Required Lenders (as defined below), and reasonably acceptable to the Borrower, will act as administrative agent and collateral agent for the First Lien Lenders (as defined below) with
respect to the New First Lien Term Loan Facility (as defined below) (in such capacities, the “First Lien Agent”) and will perform the duties customarily associated with such roles. The Borrower shall pay agency fees to the First
Lien Agent in an amount to be agreed between the Borrower and the First Lien Agent.
		
	First Lien Lenders:	  	The lenders under the New First Lien Term Loan Facility (the “First Lien Lenders”) shall initially be the DIP Lenders as of the Plan Effective Date (as defined in the Transaction Support Agreement) (and/or one or
more of their respective designated affiliates and/or related funds or accounts).
		
	Type and Amount:	  	 A senior secured first lien term loan facility (the “New First Lien Term Loan Facility”; and the term loans thereunder, the
“New First Lien Term Loans”) in an aggregate original principal amount equal (x) the aggregate outstanding principal amount of the DIP Facility on the Plan Effective Date (as defined in the Transaction Support Agreement)
less (y) the DIP Paydown Amount (as defined in the Chapter 11 Term Sheet). On the Plan Effective Date, each holder of DIP Facility Claims shall receive its pro rata share of the New First Lien Term Loans, as and to the extent set
forth in the “Classification and Treatment of Claims” section of the Chapter 11 Term Sheet. No actual funding shall occur on the Plan Effective Date in respect of the New First Lien Term Loans.

Once repaid or prepaid, no portion of the New First Lien Term Loans may be reborrowed.

		
	Closing Date:	  	The Plan Effective Date, subject to satisfaction or waiver by the Required Lenders of the conditions precedent set forth in the New First Lien Credit Agreement (as defined below) (the “Closing Date”).
		
	Maturity:	  	Five (5) years from the Closing Date.

  
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	Use of Proceeds:	  	The New First Lien Term Loans will be issued in exchange for DIP Facility Claims pursuant to the Plan (as defined in the Transaction Support Agreement).
		
	Amortization:	  	1.00% per annum, paid quarterly, beginning with the first full fiscal quarter ending after the Closing Date.
		
	Interest:	  	 At all times prior to the occurrence of an Event of Default, interest on the New First Lien Term Loans shall accrue at a rate per annum
equal (x) to LIBOR plus 8.50% (subject to a 1.50% LIBOR Floor) or (y) a base rate plus 7.50% (subject to a 2.50% base rate floor), in each case, payable in cash, quarterly in arrears; provided, that for the twelve
fiscal months following the Closing Date, if Liquidity is below an amount to be agreed, interest payments may be paid “in kind” by increasing the principal amount of the New First Lien Term Loans outstanding on the applicable payment date,
subject to a minimum cash interest payment equal to (x) in the case of LIBOR loans, LIBOR plus 1.00% and (y) in the case of base rate loans, the base rate plus 2.00% (the “Interest Rate”).

 
 For purposes hereof, (i) “Liquidity” means as of any date of
determination, the sum of Available Cash plus Availability under and as defined in the ABL Credit Agreement; and (ii) “Available Cash” means as of any date, unrestricted cash and cash equivalents of the Loan Parties subject
to a lien securing the obligations on such date.
  
 All interest shall be computed on
the basis of a 360-day year consisting of twelve (12) 30-day months.
  

Upon the occurrence and during the continuance of an Event of Default, interest on the New First Lien Term Loans shall accrue at the Interest Rate plus
2.00% per annum and shall be payable solely in cash, on demand.

		
	Exit Payment:	  	2.25% of the aggregate principal amount of the New First Lien Term Loans, payable in cash on (a) the maturity date of the New First Lien Term Loans or (b) any earlier voluntary repayment, any mandatory repayment (other
than due to amortization, excess cash flow or the receipt of tax refunds) or any acceleration (including as a result of bankruptcy event of default) (the “Exit Payment”).
		
	Documentation:	  	The New First Lien Term Loan Facility shall be substantially consistent with Existing Term Loan Agreement and the Credit Documents (as defined in the Existing Term Loan Agreement) (the “Existing Term Loan
Documents”), this New First Lien Term Loan Term Sheet, and such other terms and conditions as are required by, and reasonably satisfactory to, the Required Lenders; provided, that all terms and conditions not expressly set forth in
this New First Lien Term Loan Term Sheet shall be satisfactory to the Required Lenders. Subject to the forgoing, the New First Lien Term Loan Facility will be documented by (a) a credit agreement, in form and substance substantially similar to
the Existing Term Loan Agreement (with such modifications as are set forth herein, necessary or desirable to effectuate the financing contemplated by this New First Lien Term Loan Term Sheet or to reflect the operational requirements and capital
structure of the Loan Parties, the relative size of the New First Lien Term Loan Facility and the business plan, and/or as otherwise reasonably requested by the Required Lenders or the First Lien Agent, which modifications shall, in each case, be in
form and substance acceptable to Required Lenders) (the “New First Lien Credit Agreement”) and (b) as applicable, the related notes, security

  
 88 

			
		  	agreements, collateral agreements, pledge agreements, control agreements, guarantees, mortgages and other legal documentation or instruments shall be substantially consistent with the Existing Term Loan Documents (with such
modifications as are set forth herein, necessary or desirable to effectuate the financing contemplated by this New First Lien Term Loan Term Sheet and/or otherwise reasonably required by the Required Lenders or the First Lien Agent (including the
Existing Term Loan Documents), in each case, in form and substance reasonably satisfactory to the Required Lenders (together with the New First Lien Credit Agreement, the “New First Lien Loan Documents”). The foregoing shall
collectively be referred to herein as the “Documentation Principles”.
		
	Voluntary Prepayment:	  	The New First Lien Term Loans may be prepaid in whole or in part at any time and from time to time after the Closing Date. Each voluntary prepayment shall be accompanied by payment of all accrued and unpaid interest thereon and
the Exit Payment.
		
	Mandatory Prepayments:	  	The New First Lien Credit Agreement will contain mandatory prepayment events substantially consistent with the Existing Term Loan Agreement and others agreed to by the Required Lenders and the Borrower, subject to the
Documentation Principles; provided, that the Borrower shall repay the New First Lien Loans with 100% of any refunds of federal or state income taxes for the fiscal year ended January 31, 2021. Each mandatory prepayment shall be
accompanied by payment of all accrued and unpaid interest and, if applicable, the Exit Payment.
		
	Collateral:	  	 All obligations of the Borrower and the Guarantors under the New First Lien Term Loan Facility, including, without limitation, all
principal and accrued interest, premiums, Exit Payments, costs, fees, expenses and any other amounts due under the New First Lien Term Loan Facility (collectively, the “First Lien Obligations”), shall be secured by continuing,
valid, binding, enforceable and perfected liens on, and security interests in (collectively, the “Liens”), substantially all of the property and assets of the Borrower and the Guarantors, whether now owned or hereafter acquired,
which liens shall be (a) first priority liens with respect to all “Term Loan Priority Collateral” (as defined in Initial Intercreditor (as defined in the Existing Term Loan Agreement)) and (b) second priority liens with respect
to all “ABL Facility Priority Collateral” (as defined in Initial Intercreditor (as defined in the Existing Term Loan Agreement)), in each case, subject to customary exclusions applicable to facilities of this type (the
“Collateral”).
  
 Notwithstanding the forgoing, the Collateral shall
include pledges of 100% of the capital stock of all Loan Parties (other than Holdings) and all first-tier non-Loan Parties, but no action (with respect to the creation or perfection of any such pledge) shall
be required to be taken outside of the US and no non-US security documents shall be required.
  

The priorities of the Liens on the Collateral securing the First Lien Obligations and the New ABL Facility, and the relative rights of secured parties under
each of the New First Lien Term Loan Facility and the New ABL Facility, shall be subject to an intercreditor agreement in form and substance reasonably satisfactory to the Required
Lenders.

  
 89 

			
		
	Representations and Warranties:	  	The New First Lien Loan Documents shall contain representations and warranties usual and customary for financings of this type and otherwise consistent with the Documentation Principles.
		
	Affirmative Covenants:	  	The New First Lien Loan Documents shall contain affirmative covenants that are usual and customary for financings of this type and otherwise consistent with the Documentation Principles, including delivery of unaudited monthly
financial statements to the First Lien Agent for distribution to the First Lien Lenders within 20 days after the end of each fiscal month, commencing with the first full fiscal month following the Closing Date, and such other heightened reporting as
may be reasonably required by Required Lenders.
		
	Negative Covenants:	  	The New First Lien Loan Documents shall contain negative covenants that are usual and customary for financings of this type and otherwise consistent with the Documentation Principles.
		
	Financial Covenant:	  	To be agreed.
		
	Conditions Precedent to Closing:	  	The New First Lien Credit Agreement will contain conditions precedent that are substantially consistent with the Existing Term Loan Agreement and as otherwise determined in accordance with the Documentation Principles.
		
	Events of Default and Remedies:	  	The New First Lien Credit Agreement shall contain defaults and events of default (each, an “Event of Default”), and remedies in respect thereof, as are usual and customary for financings of this type and as
otherwise determined in accordance with the Documentation Principles.
		
	Required Lenders:	  	First Lien Lenders holding a majority of the aggregate outstanding principal amount of commitments in respect of the New First Lien Term Loans or, following the borrowing of New First Lien Term Loans, the New First Lien Term
Loans (the “Required Lenders”).
		
	Rating:	  	Within thirty (30) days after the Closing Date, the Borrower shall obtain, or shall have used commercially reasonable efforts to obtain, a rating of the New First Lien Term Loan Facility from Moody’s and from S&P
(but no specific rating shall be required); provided that if no such rating is obtained by such date, the Borrower shall continue to use commercially reasonable efforts to obtain such rating if requested by the Required DIP Lenders.
		
	Governing Law:	  	New York.

  
 90 

 EXHIBIT C 

Form of Joinder 
 The
undersigned (“Joinder Party”) hereby acknowledges that it has read and understands the Transaction Support Agreement, dated as of August [ ], 2020 (as amended, supplemented, amended and restated, or otherwise modified from
time to time, the “Agreement”),1 by and among the Company Parties, the Persons named therein as “Consenting Lenders” thereunder, and the Persons named therein as
“Consenting Shareholders” thereunder. 
  

	1.	 Agreement to be Bound. The Joinder Party hereby agrees to be bound by all of the terms of the Agreement,
a copy of which is attached hereto as Annex I (as the same has been or may hereafter be amended, restated, supplemented or otherwise modified from time to time in accordance with the provisions hereof). The Joinder Party shall
hereafter be deemed to be a “Consenting Lender” and a “Party” for all purposes under the Agreement and with respect to all Company Claims/Interests held by the Joinder Party. 

 

	2.	 Representations and Warranties. The Joinder Party hereby makes the representations and warranties of the
Consenting Lenders set forth in Section 11 and Section 12 of the Agreement to each other Party, effective as of the date hereof. 

  

	3.	 Governing Law. This Joinder to the Agreement shall be governed by and construed in accordance with the
internal laws of the State of New York, without regard to any conflicts of law provisions which would require the application of the Law of any other jurisdiction. 

[Signature Page Follows.] 

 

	1 	 Capitalized terms used but not otherwise defined herein shall having the meanings ascribed to such terms in the
Agreement. 

  
 91 

			
	JOINDER PARTY:
	
	Date Executed:
		
	By:	 	  

	Name:	 	
	Title:	 	

 Address: 
 E-mail address(es): 
  

					
	 Aggregate Amounts Beneficially Owned or Managed on
Account of:
	 
	 Term Loans
	  	$	     	 
	 Unsecured Notes
	  	$	     	 
	 ABL Loans
	  	$	     	 
	 Equity Interests
	  			

  
 92 

 ANNEX I TO THE JOINDER 

[Attached.] 

  
 93 

 Exhibit D 

Release Provisions 

  
 94 

 Defined Terms1 

“Avoidance Actions” means any and all avoidance, recovery, subordination, or other claims, actions, or remedies that may be brought by or on
behalf of the Debtors or their Estates or other authorized parties in interest under the Bankruptcy Code or applicable non-bankruptcy law, including actions or remedies under sections 502, 510, 542, 544, 545,
547 through 553, and 724(a) of the Bankruptcy Code or under similar or related state or federal statutes and common law, including fraudulent transfer laws. 

“Causes of Action” means any claims, interests, damages, remedies, causes of action, demands, rights, actions, suits, obligations,
liabilities, accounts, defenses, offsets, powers, privileges, licenses, liens, indemnities, guaranties, and franchises of any kind or character whatsoever, whether known or unknown, foreseen or unforeseen, existing or hereinafter arising, contingent
or non-contingent, liquidated or unliquidated, secured or unsecured, assertable, directly or derivatively, matured or unmatured, suspected or unsuspected, in contract, tort, law, equity, or otherwise. Causes
of Action also include: (a) all rights of setoff, counterclaim, or recoupment and claims under contracts or for breaches of duties imposed by law; (b) the right to object to or otherwise contest Claims or Interests; (c) claims
pursuant to sections 362, 510, 542, 543, 544 through 550, or 553 of the Bankruptcy Code; and (d) such claims and defenses as fraud, mistake, duress, and usury, and any other defenses set forth in section 558 of the Bankruptcy Code. 

“Exculpated Party” means each of the following, solely in its capacity as such: (a) the Consenting Lenders; (b) the DIP Lenders;
(c) the DIP Agents; (d) the Existing Agent; (e) the ABL Lenders, (f) the ABL Agent; (g) Towerbrook2; (h) the Debtors; (i) the Reorganized Debtors (j) each of the
Debtors’ current and former directors, officers, managers, employees, members, principals, partners, advisory board members, agents, advisors, attorneys, accountants, investment bankers, consultants, representatives, and other professionals;
and (k) with respect to each of the foregoing Persons described in clauses (a) through (g), such Person’s current and former Affiliates, partners, Subsidiaries. managers, officers, directors, principals, members,
employees, agents, managed funds or accounts, advisors, equity holders (regardless of whether such interests are held directly or indirectly), predecessors, successors, assigns, advisory board members, financial advisors, investment advisors,
investment committee members, special committee members, affiliated investment funds or investment vehicles, participants, management companies, fund advisors or managers, partners, attorneys, accountants, investment bankers, consultants,
representatives, and other professionals, together with their respective successors and assigns, in each case in their capacity as such. 

 

	1 	 Capitalized terms used but not defined in this Exhibit D to the Transaction Support Agreement
shall have the meanings ascribed to them in the Plan, which shall be in form and substance consistent with the Transaction Support Agreement and the Term Sheet. References herein to either DIP Agent, any of the DIP Lenders, and the DIP Facilities
shall be included in the Releases only if the Company Parties determine each such DIP Facility is necessary to the Chapter 11 Cases and each such DIP Facility is approved by the Bankruptcy Court. 

	2 	 TowerBrook to be removed from scope Exculpation upon any of the following to occur: (a) the Consenting Lenders
terminate the Agreement (due to a breach by the Consenting Shareholders) pursuant to Section 13.01(a), (b) the Company Parties terminate the Agreement pursuant to Section 13.02(a) or (c) the Consenting Shareholders terminate the Agreement for any
reason pursuant to Section 13.03. 

	3 	 The parties agree that the failure of any estate fiduciary to be included in the Exculpation provision as a
result of a Final Order of the Bankruptcy Court shall not constitute a Termination Event and shall not provide any party to this Agreement with the ability to terminate the Agreement. 

  
 95 

 “Released Party” means each of the following, solely in its capacity as such: means each
of: (a) the Consenting Lenders; (b) the DIP Lenders; (c) the DIP Agents; (d) the Existing Agent; (e) the ABL Lenders, (f) the ABL Agent; (g) TowerBrook4; (h) the
Debtors; (i) each of the Debtors’ current and former directors, officers, managers, employees, members, principals, partners, advisory board members, agents, advisors, attorneys, accountants, investment bankers, consultants,
representatives, and other professionals; and (j) with respect to each of the foregoing Persons described in clauses (a) through (g), such Person’s current and former Affiliates, partners, Subsidiaries. managers,
officers, directors, principals, members, employees, agents, managed funds or accounts, advisors, equity holders (regardless of whether such interests are held directly or indirectly), predecessors, successors, assigns, advisory board members,
financial advisors, investment advisors, investment committee members, special committee members, affiliated investment funds or investment vehicles, participants, management companies, fund advisors or managers, partners, attorneys, accountants,
investment bankers, consultants, representatives, and other professionals, together with their respective successors and assigns, in each case in their capacity as such; provided, that any holder of a Claim or Interest that opts out of, or
objects to, the releases contained in the Plan shall not be a “Released Party.” 
 “Releasing Party” means each of the following,
solely in its capacity as such: (a) the Consenting Lenders; (b) the DIP Lenders; (c) the DIP Agents; (d) the Existing Agent; (e) the ABL Lenders, (f) the ABL Agent; (g) TowerBrook; (h) the Debtors; (i) each of
the Debtors’ current and former directors, officers, managers, employees, members, principals, partners, advisory board members, agents, advisors, attorneys, accountants, investment bankers, consultants, representatives, and other
professionals; and (j) with respect to each of the foregoing Persons described in clauses (a) through (g), such Person’s current and former Affiliates, partners, Subsidiaries, managers, officers, directors, principals,
members, employees, agents, managed funds or accounts, advisors, equity holders (regardless of whether such interests are held directly or indirectly), predecessors, successors, assigns, advisory board members, financial advisors, investment
advisors, investment committee members, special committee members, affiliated investment funds or investment vehicles, participants, management companies, fund advisors or managers, attorneys, accountants, investment bankers, consultants,
representatives, and other professionals, together with their respective successors and assigns, in each case in their capacity as such; (k) without limiting the foregoing, (1) each holder of a Claim or Interest that voted to accept the
Plan, (2) each holder of a Claim or Interest that is Unimpaired under the Plan, where the applicable Claims or Interests have been fully paid or otherwise satisfied in accordance with the Plan, (3) holders of Claims whose vote to accept or
reject this Plan was solicited but who did not vote either to accept or to reject this Plan, and (4) holders of Claims who voted to reject the Plan and who did not opt out of granting the releases provided by the Plan; provided, that any
holder of a Claim or Interest that validly opts out of, or objects to, the releases contained in the Plan shall not be a “Releasing Party.” 

Releases by the Debtors 
 Notwithstanding anything
contained in the Plan to the contrary, pursuant to section 1123(b) of the Bankruptcy Code, in exchange for good and valuable consideration, the adequacy of which is hereby confirmed, on and after the Plan Effective Date, each Released Party is, and
is deemed hereby to be, fully, conclusively, absolutely, unconditionally, irrevocably, and forever released and discharged by the Debtors, the Reorganized Debtors, their Estates, and any person seeking to exercise the rights of the Debtors or their
Estates, including any successors to the Debtors or any 
  

	4 	 TowerBrook to be removed from scope of Release upon any of the following to occur: (a) the Consenting Lenders
terminate the Agreement (due to a breach by the Consenting Shareholders) pursuant to Section 13.01(a), (b) the Company Parties terminate the Agreement pursuant to Section 13.02(a) or (c) the Consenting Shareholders terminate the Agreement for ant
reason pursuant to Section 13.03. 

  
 96 

 
Estates representatives appointed or selected pursuant to section 1123(b)(3) of the Bankruptcy Code, in each case on behalf of themselves and their respective successors, assigns, and
representatives, and any and all other Entities who may purport to assert any Cause of Action, directly or derivatively, by, through, for, or because of the foregoing Entities, from any and all Claims and Causes of Action, including, among others,
equity interests, obligations, debts, rights, suits, damages, remedies, liabilities, and any derivative claims asserted or assertable on behalf of the Debtors, whether known or unknown, foreseen or unforeseen, matured or unmatured, existing or
hereafter arising, contingent or noncontingent, in law, equity, contract, tort or otherwise, that the Debtors, the Reorganized Debtors, their Estates, or their Affiliates, including any successors to the Debtors, their Affiliates, or any Estates
representative appointed or selected pursuant to section 1123(b) of the Bankruptcy Code, would have been legally entitled to assert in their own right (whether individually or collectively) or on behalf of the Holder of any Claim against, or
Interest in, a Debtor or other Entity, or that any Holder of any Claim against, or Interest in, a Debtor or other Entity could have asserted on behalf of the Debtors, based on or relating to, or in any manner arising from, in whole or in part:
(a) the Debtors (including the capital structure, management, ownership, or operation thereof), the business or contractual arrangement between the Debtors and any Released Party, any Securities issued by the Debtors and the ownership thereof,
the assertion or enforcement of rights and remedies against the Debtors, the subject matter of, or the transactions or events giving rise to, any Claim or equity interest that is treated under the Plan, the Debtors’ in- or out-of-court restructuring efforts, any Avoidance Actions (but excluding Avoidance Actions brought as counterclaims or defenses
to Claims asserted against the Debtors), intercompany transactions between the Company Parties, the Term Loan Agreement, the ABL Credit Agreement, the Chapter 11 Cases, the formulation, preparation, dissemination, negotiation, or filing of the TSA,
the Disclosure Statement, the DIP Facility Credit Agreement, the New ABL Credit Agreement, the New First Lien Term Loan Credit Agreement, or the Plan (including, for the avoidance of doubt, the Plan Supplement); (b) any Restructuring
Transaction, contract, instrument, release, or other agreement or document (including any legal opinion requested by any Entity regarding any transaction, contract, instrument, document or other agreement contemplated by the Plan or the reliance by
any Released Party on the Plan or the Confirmation Order in lieu of such legal opinion) created or entered into in connection with the TSA, the Disclosure Statement, the DIP Facility Credit Agreement, the New ABL Credit Agreement, the New First Lien
Term Loan Credit Agreement, , the Plan, or the Plan Supplement, before or during the Chapter 11 Cases; (c) the Chapter 11 Cases, the filing of the Chapter 11 Cases, the Disclosure Statement or the Plan, the solicitation of votes with respect to
the Plan, the pursuit of Confirmation, the pursuit of Consummation, the administration and implementation of the Plan, including the issuance or distribution of Securities pursuant to the Plan, or the distribution of property under the Plan or any
other related agreement; or (d) any related act or omission, transaction, agreement, event, or other occurrence related or relating to any of the foregoing taking place on or before the Plan Effective Date, including all Avoidance Actions or
other relief obtained by the Debtors in the Chapter 11 Cases. 
 Notwithstanding anything to the contrary in the foregoing, the releases set forth above do
not release (i) post Plan Effective Date obligations of any party or Entity under the Plan, the Confirmation Order, any Restructuring Transaction, any Definitive Document, or any other document, instrument, or agreement (including those set
forth in the Plan Supplement) executed to implement the Plan, including the DIP Facility Credit Agreement, the New ABL Credit Agreement, the New First Lien Term Loan Credit Agreement, or any Claim or obligation arising under the Plan, or
(ii) the rights of any Holder of Allowed Claims to receive distributions under the Plan. 

  
 97 

 Entry of the Confirmation Order shall constitute the Bankruptcy Court’s approval, pursuant to
Bankruptcy Rule 9019, of the foregoing Debtor release, which includes by reference each of the related provisions and definitions contained in the Plan, and further, shall constitute the Bankruptcy Court’s finding that the foregoing Debtor
release is: (a) in exchange for the good and valuable consideration provided by the Released Parties, including, without limitation, the Released Parties’ contributions to facilitating the Restructuring Transactions and implementing the
Plan; (b) a good faith settlement and compromise of the Claims released by the foregoing Debtor release; (c) in the best interests of the Debtors and their Estates and all Holders of Claims and Interests; (d) fair, equitable, and
reasonable; (e) given and made after due notice and opportunity for hearing; and (f) a bar to any of the Debtors, the Reorganized Debtors, or the Debtors’ Estates asserting any Claim or Cause of Action released pursuant to the
foregoing Debtor release. 
 Third-Party Releases by Releasing Parties 

Except as otherwise expressly set forth in the Plan or the Confirmation Order, on and after the Plan Effective Date, in exchange for good and valuable
consideration, the adequacy of which is hereby confirmed, each Released Party is, and is deemed hereby to be, fully, conclusively, absolutely, unconditionally, irrevocably and forever, released and discharged by each Releasing Party, in each case on
behalf of themselves and their respective successors, assigns, and representatives, and any and all other Entities who may purport to assert any Cause of Action, directly or derivatively, by, through, for, or because of the foregoing Entities, from
any and all Claims and Causes of Action, whether known or unknown, foreseen or unforeseen, matured or unmatured, existing or hereafter arising, contingent or noncontingent, in law, equity, contract, tort, or otherwise, including any derivative
claims asserted on behalf of the Debtors, that such Entity would have been legally entitled to assert in their own right (whether individually or collectively) or on behalf of the Holder of any Claim against, or Interest in, a Debtor or other
Entity, or that any Holder of any Claim against, or Interest in, a Debtor or other Entity could have asserted on behalf of the Debtors, based on or relating to, or in any manner arising from, in whole or in part: (a) the Debtors (including the
capital structure, management, ownership, or operation thereof), the business or contractual arrangement between the Debtors and any Releasing Party, any Securities issued by the Debtors and the ownership thereof, the assertion or enforcement of
rights and remedies against the Debtors, the subject matter of, or the transactions or events giving rise to, any Claim or equity interest that is treated under the Plan, the Debtors’ in-
or out-of-court restructuring efforts, any Avoidance Actions (but excluding Avoidance Actions brought as counterclaims or defenses to Claims asserted against the
Debtors), intercompany transactions between or among the Company Parties, the Term Loan Agreement, the ABL Credit Agreement, the Chapter 11 Cases, the formulation, preparation, dissemination, negotiation, or filing of the TSA, the Disclosure
Statement, the DIP Credit Agreement, the New ABL Credit Agreement, the New First Lien Term Loan Credit Agreement, or the Plan (including, for the avoidance of doubt, the Plan Supplement); (b) any Restructuring Transaction, contract, instrument,
release, or other agreement or document (including any legal opinion requested by any Entity regarding any transaction, contract, instrument, document or other agreement contemplated by the Plan or the reliance by any Released Party on the Plan or
the Confirmation Order in lieu of such legal opinion) created or entered into 

  
 98 

 
in connection with the TSA, the Disclosure Statement, the DIP Credit Agreement, the New ABL Credit Agreement, the New First Lien Term Loan Credit Agreement, the Plan, or the Plan Supplement,
before or during the Chapter 11 Cases; (c) the Chapter 11 Cases, the filing of the Chapter 11 Cases, the Disclosure Statement, or the Plan, the solicitation of votes with respect to the Plan, the pursuit of Confirmation, the pursuit of
Consummation, the administration and implementation of the Plan, including the issuance or distribution of Securities pursuant to the Plan, or the distribution of property under the Plan or any other related agreement; or (d) any related act or
omission, transaction, agreement, event, or other occurrence related or relating to any of the foregoing taking place on or before the Plan Effective Date, including all Avoidance Actions or other relief obtained by the Debtors in the Chapter 11
Cases. 
 Notwithstanding anything to the contrary in the foregoing, the releases set forth above do not release (i) any post Plan Effective Date
obligations of any party or Entity under the Plan, the Confirmation Order, any Restructuring Transaction, or any document, instrument, any Definitive Document, or any agreement (including those set forth in the Plan Supplement) executed to implement
the Plan, including the DIP Credit Agreement, the New ABL Credit Agreement, the New First Lien Term Loan Credit Agreement, or any Claim or obligation arising under the Plan, (ii) the rights of Holders of Allowed Claims to receive distributions
under the Plan or (iii) any claims or liabilities arising out of or relating to any act or omission of a Released Party that is determined in a final order by a court of competent jurisdiction to have constituted actual fraud or illegal acts.

 Entry of the Confirmation Order shall constitute the Bankruptcy Court’s approval, pursuant to Bankruptcy Rule 9019, of the foregoing third-party
release, which includes by reference each of the related provisions and definitions contained herein, and, further, shall constitute the Bankruptcy Court’s finding that the foregoing third-party release is: (a) consensual;
(b) essential to the Confirmation of the Plan; (c) given in exchange for a substantial contribution and for the good and valuable consideration provided by the Released Parties that is important to the success of the Plan; (d) a good
faith settlement and compromise of the Claims released by the foregoing third-party release; (e) in the best interests of the Debtors and their Estates; (f) fair, equitable, and reasonable; (g) given and made after due notice and
opportunity for hearing; and (h) a bar to any of the Releasing Parties asserting any claim or Cause of Action released pursuant to the foregoing third-party release. 

Related Party 
 Collectively, current and former
directors, managers, officers, equity holders (regardless of whether such interests are held directly or indirectly), affiliated investment funds or investment vehicles, predecessors, participants, successors, assigns, subsidiaries, affiliates,
managed accounts or funds, partners, limited partners, general partners, principals, members, management companies, fund advisors or managers, employees, agents, advisory board members, financial advisors, attorneys, accountants, investment bankers,
consultants, representatives, heirs, executors, and assigns, and other professionals, in each case solely in their capacities as such, together with their respective past and present directors, officers, shareholders, partners, members, employees,
agents, attorneys, representatives, heirs, executors and assigns, in each case solely in their capacities as such. 

  
 99 

 Exculpation 

Without affecting or limiting either the Debtor Release or the Third Party Release, and except as otherwise specifically provided in the Plan or the
Confirmation Order, no Exculpated Party shall have or incur liability for, and each Exculpated Party shall be released and exculpated from any Claims and Causes of Action for any claim related to any act or omission in connection with, relating to,
or arising out of, the Chapter 11 Cases, the formulation, preparation, dissemination, negotiation, entry into, filing, or termination of the TSA and related prepetition transactions (including the Term Loan Agreement and the ABL Credit Agreement),
the Disclosure Statement, the Plan, the DIP Credit Agreement, the New ABL Credit Agreement, the New First Lien Term Loan Credit Agreement, the Plan Supplement, or any Restructuring Transaction, contract, instrument, release or other agreement or
document (including any legal opinion requested by any Entity regarding any transaction, contract, instrument, document or other agreement contemplated by the Plan or the reliance by any Released Party on the Plan or the Confirmation Order in lieu
of such legal opinion), including any Definitive Document, created or entered into before or during the Chapter 11 Cases, any preference, fraudulent transfer, or other avoidance claim arising pursuant to chapter 5 of the Bankruptcy Code or other
applicable law, the filing of the Chapter 11 Cases, the pursuit of Confirmation, the pursuit of Consummation, the administration and implementation of the Plan, including the issuance or distribution of Securities pursuant to the Plan, or the
distribution of property under the Plan or any other related agreement, or upon any other related act or omission, transaction, agreement, event, or other occurrence taking place on or before the Plan Effective Date, except for claims related to any
act or omission that is determined in a final order by a court of competent jurisdiction to have constituted actual fraud, willful misconduct, or gross negligence, but in all respects such Entities shall be entitled to reasonably rely upon the
advice of counsel with respect to their duties and responsibilities pursuant to the Plan. 
 The Exculpated Parties and other parties set forth above have,
and upon confirmation of the Plan shall be deemed to have, participated in good faith and in compliance with the applicable laws with regard to the solicitation of votes and distribution of consideration pursuant to the Plan and, therefore, are not,
and on account of such distributions shall not be, liable at any time for the violation of any applicable law, rule, or regulation governing the solicitation of acceptances or rejections of the Plan or such distributions made pursuant to the Plan.

 Discharge of Claims and Termination of Interests 

Pursuant to section 1141(d) of the Bankruptcy Code, and except as otherwise specifically provided in the Plan, the Confirmation Order, or in any contract,
instrument, or other agreement or document created or entered into pursuant to the Plan including the Definitive Documents, the distributions, rights, and treatment that are provided in the Plan shall be in complete satisfaction, discharge, and
release, effective as of the Plan Effective Date, of Claims (including any Intercompany Claims resolved or compromised after the Plan Effective Date by the Reorganized Debtors), Interests, and Causes of Action of any nature whatsoever, including any
interest accrued on Claims or Interests from and after the Petition Date, whether known or unknown, against, liabilities of, liens on, obligations of, rights against, and Interests in, the Debtors or any of their assets or properties, regardless of
whether any property shall have been distributed or retained pursuant to the Plan on account of such Claims and Interests, including demands, liabilities, and Causes of Action that 

  
 100 

 
arose before the Plan Effective Date, any liability (including withdrawal liability) to the extent such Claims or Interests relate to services performed by employees of the Debtors before the
Plan Effective Date and that arise from a termination of employment, any contingent or noncontingent liability on account of representations or warranties issued on or before the Plan Effective Date, and all debts of the kind specified in sections
502(g), 502(h), or 502(i) of the Bankruptcy Code, in each case whether or not: (a) a Proof of Claim based upon such debt or right is filed or deemed filed pursuant to section 501 of the Bankruptcy Code; (b) a Claim or Interest based upon
such debt, right, or Interest is Allowed pursuant to section 502 of the Bankruptcy Code; or (c) the Holder of such a Claim or Interest has accepted the Plan. Any default or “event of default” by the Debtors or Affiliates with respect
to any Claim or Interest that existed immediately before or on account of the filing of the Chapter 11 Cases shall be deemed cured (and no longer continuing) as of the Plan Effective Date. The Confirmation Order shall be a judicial determination of
the discharge of all Claims and Interests subject to the Plan Effective Date occurring. 
 Injunction 

Except as otherwise expressly provided in the Plan or the Confirmation Order or for obligations or distributions issued or required to be paid pursuant to the
Plan or the Confirmation Order, all Entities who have held, hold, or may hold the Released Claims are permanently enjoined, from and after the Plan Effective Date, from taking any of the following actions against, as applicable, the Debtors, the
Reorganized Debtors, the Exculpated Parties, or the Released Parties: (1) commencing or continuing in any manner any action or other proceeding of any kind on account of or in connection with or with respect to any Released Claims;
(2) enforcing, attaching, collecting, or recovering by any manner or means any judgment, award, decree, or order against such Entities on account of or in connection with or with respect to any Released Claims; (3) creating, perfecting, or
enforcing any lien or encumbrance of any kind against such Entities or the property or the Estates of such Entities on account of or in connection with or with respect to any Released Claims; (4) asserting any right of setoff, subrogation, or
recoupment of any kind against any obligation due from such Entities or against the property or the Estates of such Entities on account of or in connection with or with respect to any Released Claims unless such holder has filed a motion requesting
the right to perform such setoff on or before the Plan Effective Date, and notwithstanding an indication of a Claim or Interest or otherwise that such holder asserts, has, or intends to preserve any right of setoff pursuant to applicable law or
otherwise; and (5) commencing or continuing in any manner any action or other proceeding of any kind on account of or in connection with or with respect to any Released Claims released or settled pursuant to the Plan. 

Upon entry of the Confirmation Order, all Holders of Claims and Interests and their respective current and former employees, agents, officers, directors,
principals, and direct and indirect Affiliates shall be enjoined from taking any actions to interfere with the implementation or Consummation of the Plan. Each Holder of an Allowed Claim or Allowed Interest, as applicable, by accepting, or being
eligible to accept, distributions under or Reinstatement of such Claim or Interest, as applicable, pursuant to the Plan, shall be deemed to have consented to the injunction provisions set forth in the Plan. 

*            
*             *            *            * 

  
 101EX-10.1

 Exhibit 10.1 

VOTING AND SUPPORT AGREEMENT 

This VOTING AND SUPPORT AGREEMENT, dated as of August 31, 2020 (the “Agreement”), among Schlumberger Technology
Corporation, a Texas corporation (“Schlumberger US”), Schlumberger Canada Limited, a corporation organized pursuant to the laws of the Province of Alberta (“Schlumberger Canada” and, together with Schlumberger US,
the “Sellers”), R/C IV Liberty Holdings, L.P., a Delaware limited partnership (“R/C Holdings”), and R/C Energy IV Direct Partnership, L.P., a Delaware limited partnership (“R/C Partnership” and,
together with R/C Holdings, “Holders” and each individually, “Holder”), and Liberty Oilfield Services Inc., a Delaware corporation (the “Company”). 

W I T N E S S E T H: 
 WHEREAS,
Schlumberger US, Schlumberger Canada, Liberty Oilfield Services New HoldCo LLC, a Delaware limited liability company (“US Buyer”), LOS Canada Operations Inc., a British Columbia corporation and wholly owned subsidiary of US Buyer
(“Canadian Buyer”), and the Company are entering into a Master Transaction Agreement dated as of the date of this Agreement (the “Master Transaction Agreement”) providing for, among other things, (a) the
completion of the Pre-Closing Restructuring and (b) immediately thereafter, the acquisition of 100% of the issued and outstanding equity interests of (i) 1263651 B.C. Unlimited Liability Company, an
unlimited liability company organized under the laws of the Province of British Columbia and a direct, wholly owned subsidiary of Schlumberger Canada (“Schlumberger Canada Target”), and (ii) Solar LLC Target
A, a Delaware limited liability company and a direct, wholly owned subsidiary of Schlumberger US (“Schlumberger US Target A”) and (iii) Solar LLC Target B, a Delaware limited liability company and a direct, wholly owned
subsidiary of Schlumberger US (“Schlumberger US Target B”), which acquisition shall involve the transfer of certain of Schlumberger US’ and Schlumberger Canada’s assets and property used primarily in connection with the
provision of onshore hydraulic fracturing services in onshore North America, in exchange for the Share Consideration (collectively, the “Transaction”), and as a result of which Schlumberger US Target A, Schlumberger US Target B
and Schlumberger Canada Target shall each be a wholly owned Subsidiary of the Company, on the terms and subject to the conditions of the Master Transaction Agreement; 

WHEREAS, each Holder is the Beneficial Owner (as defined below) of such number set forth under its name on Schedule I hereto of shares
of Class A common stock, par value $0.01 per share, of the Company (the “Liberty Parent Class A Shares”) and shares of Class B common stock, par value $0.01 per share, of the Company (the
“Liberty Parent Class B Shares, and, together with the Liberty Parent Class A Shares, collectively, the “Liberty Parent Common Stock” and such shares of Liberty Parent Common Stock, but excluding
shares Transferred in compliance with this Agreement, the “Shares”); 
 WHEREAS, concurrently with the execution and
delivery of the Master Transaction Agreement, and as a condition and an inducement to the Sellers and the Company entering into the Master Transaction Agreement, Holders are entering into this Agreement with respect to the Shares; and 

 WHEREAS, Holders are willing, subject to the limitations herein, not to Transfer (as defined
below) any of their Shares, and to vote their Shares in a manner so as to facilitate consummation of the Transaction and the other transactions contemplated by the Master Transaction Agreement. 

NOW, THEREFORE, in consideration of the mutual covenants, representations, warranties and agreements contained herein, and intending to be
legally bound hereby, the parties agree as follows: 
 ARTICLE I 

GENERAL 
 1.1
Definitions. This Agreement is the “Stockholder Voting Agreement” as defined in the Master Transaction Agreement. For purposes of this Agreement, the Company shall not be deemed an Affiliate of the Holders, and the Company and
its Representatives are not Representatives of any Holder. Capitalized terms used but not defined herein shall have the respective meanings set forth in the Master Transaction Agreement. 

(a) “Beneficially Own” or “Beneficial Ownership” has the meaning assigned to such term in Rule 13d-3 under the Exchange Act, and a Person’s beneficial ownership of securities shall be calculated in accordance with the provisions of such Rule (in each case, irrespective of whether or not such Rule is
actually applicable in such circumstance). For the avoidance of doubt, Beneficially Own and Beneficial Ownership shall also include record ownership of securities. 

(b) “Beneficial Owners” shall mean Persons who Beneficially Own the referenced securities. 

(c) “Transfer” means (i) any direct or indirect offer, sale, lease, assignment, encumbrance, loan, pledge, grant of a
security interest, hypothecation, disposition or other similar transfer (by operation of law or otherwise), either voluntary or involuntary, or entry into any contract, option or other arrangement or understanding with respect to any offer, sale,
lease, assignment, encumbrance, loan, pledge, hypothecation, disposition or other transfer (by operation of law or otherwise), of any Shares owned by any Holder (whether beneficially or of record), including in each case through the Transfer of any
Person or any interest in any Person or (ii) in respect of any capital stock or interest in any capital stock, to enter into any swap or any other agreement, transaction or series of transactions that results in an amount of Shares subject to
Article III that is less than the amount of Shares subject to Article III as of the date of this Agreement. 
 ARTICLE II 

AGREEMENT TO RETAIN SHARES 

2.1 Transfer and Encumbrance of Shares. 

(a) From the date of this Agreement until the earliest of (i) Liberty Parent Stockholder Approval being obtained, (ii) the
termination of the Master Transaction Agreement pursuant to and in compliance with the terms thereof and (iii) March 31, 2021 (such earliest date, the “Termination Date”), each Holder shall not, with respect to any Shares
Beneficially Owned by such Holder, (x) Transfer any such Shares or (y) deposit any such Shares into a voting trust or enter into a voting agreement or arrangement with respect to such Shares or grant any proxy (except as otherwise provided
herein) or power of attorney with respect thereto. 

  
 2 

 (b) Notwithstanding Section 2.1(a), Holders may: (A) Transfer
any Shares to any Person that (1) is a party to an agreement with each of the Sellers with substantially similar terms as this Agreement or (2) as a condition to such Transfer, agrees in a writing, reasonably satisfactory in form and
substance to the Sellers, to be bound by this Agreement, and delivers a copy of such executed written agreement to each Seller and the Company prior to the consummation of such transfer, (B) Transfer any Shares with the prior written consent of
each Seller and the Company and/or (C) Transfer Shares to the extent permitted by Rule 144 of the Securities Act of 1933, as amended, and subject to the volume limitations included therein. 

(c) Nothing in this Agreement shall restrict (i) direct or indirect Transfers of equity or other interests in any Holder (it being
understood that such Holder shall remain bound by this Agreement) or (ii) Transfers of any Shares by any Holder to an Affiliate of such Holder; provided, that a Transfer described in clause (ii) of this sentence shall be permitted
only if, as a precondition to such Transfer, the transferee agrees in a writing, reasonably satisfactory in form and substance to the Sellers, to be bound by all of the terms of this Agreement. 

(d) Other than Shares Transferred in accordance with Section 2.1(b)(A)(1) or (2) or
Section 2.1(c)(ii) or with respect to direct or indirect Transfers of equity or other interests in any Holder pursuant to Section 2.1(c)(i), any Shares that are Transferred in accordance with this
Section 2.1 shall not be subject to the terms and conditions of this Agreement following such Transfer, and upon such Transfer the proxy granted by Holder in Article III with respect to such Shares shall be
automatically revoked. 
 2.2 Additional Purchases; Adjustments. Each Holder agrees that any shares of Liberty Parent Common
Stock of the Company that such Holder purchases or otherwise acquires or with respect to which such Holder otherwise acquires voting power after the execution of this Agreement and prior to the Termination Date shall be subject to the terms and
conditions of this Agreement to the same extent as if they constituted the Shares as of the date of this Agreement, and each Holder shall promptly notify the Company of the existence of any such after acquired Shares. In the event of any stock
split, stock dividend, merger, reorganization, recapitalization, reclassification, combination, exchange of shares or the like of the capital stock of the Company affecting the Shares, the terms of this Agreement shall apply to the resulting
securities. 
 2.3 Unpermitted Transfers; Involuntary Transfers. Any Transfer or attempted Transfer of any Shares in violation
of this Article II shall, to the fullest extent permitted by Applicable Law, be null and void ab initio. In furtherance of the foregoing, each Holder hereby authorizes and instructs the Company to instruct its transfer agent to enter a
stop transfer order with respect to all of the Shares; provided that such stop transfer order shall be removed with respect to any Transfer permitted under this Agreement. If any involuntary Transfer of any of a Holder’s Shares shall occur, the
transferee (which term, as used herein, shall include any and all transferees and subsequent transferees of the initial transferee) shall take and hold such Shares subject to all of the restrictions, liabilities and rights under this Agreement,
which shall continue in full force and effect until valid termination of this Agreement. 

  
 3 

 ARTICLE III 

AGREEMENT TO VOTE 
 3.1
Agreement to Vote. Prior to the Termination Date, each Holder irrevocably and unconditionally agrees that it shall, at any meeting of the stockholders of the Company (whether annual or special and whether or not an adjourned or postponed
meeting), however called, appear at such meeting or otherwise cause the Shares to be counted as present at such meeting for purpose of establishing a quorum and vote, or cause to be voted at such meeting, all Shares it owns: 

(a) in favor of the Liberty Parent Share Issuance; and 

(b) against (i) any agreement, transaction or proposal that relates to a Competing Proposal or any other transaction, proposal, agreement
or action made in opposition to adoption of the Master Transaction Agreement or inconsistent with the Transaction or matters contemplated by the Master Transaction Agreement; (ii) any action or agreement that would result in a breach of any
covenant, representation or warranty or any other obligation or agreement of the Company or any of its Subsidiaries contained in the Master Transaction Agreement; (iii) any action or agreement that would result in (x) any condition to the
consummation of the Transaction set forth in Article V of the Master Transaction Agreement not being fulfilled or (y) any change to the voting rights of any class of shares of capital stock of the Company (including any amendments to the
Company’s Corporate Documents); and (iv) any other action that would reasonably be expected to materially impede, interfere with, delay, discourage, postpone or adversely affect any of the transactions contemplated by the Master
Transaction Agreement, including the Transaction, or this Agreement. Any attempt by a Holder to vote, consent or express dissent with respect to (or otherwise to utilize the voting power of), the Shares in contravention of this
Section 3.1 shall be null and void ab initio. If any Holder is the Beneficial Owner, but not the holder of record, of any Shares, such Holder agrees to take all actions necessary to cause the holder of record and any
nominees to vote (or exercise a consent with respect to) all of such Shares in accordance with this Section 3.1. 

Notwithstanding anything herein to the contrary in this Agreement, this Section 3.1 shall not require any Holder to be
present (in person or by proxy) or vote (or cause to be voted), any of the Shares to amend, modify or waive any provision of the Master Transaction Agreement in a manner that increases the amount, changes the form of, imposes any material
restrictions on or additional material conditions on the payment of the Share Consideration, extends the Termination Date (as defined in the Master Transaction Agreement) or otherwise adversely affects such Holder of the Company (in its capacity as
such) in any material respect. Notwithstanding anything to the contrary in this Agreement, each Holder shall remain free to vote (or execute consents or proxies with respect to) the Shares with respect to any matter other than as set forth in
Section 3.1(a) and Section 3.1(b) in any manner such Holder deems appropriate, including in connection with the election of directors of the Company. 

3.2 Proxy. Each Holder hereby irrevocably appoints as its proxy and attorney-in-fact, Schlumberger US and any person designated in writing by Schlumberger US, each of them individually, with full power of substitution and resubstitution, to consent to or vote the Shares as
indicated in Section 3.1 above. Each Holder intends this proxy to be irrevocable and unconditional during the term of this Agreement and coupled with an interest and will take such further 

  
 4 

 
action or execute such other instruments as may be reasonably necessary to effect the intent of this proxy, and hereby revokes any proxy previously granted by such Holder with respect to the
Shares (and each Holder hereby represents that any such proxy is revocable). The proxy granted by any Holder shall be automatically revoked upon the occurrence of the Termination Date and Schlumberger US may further terminate this proxy at any time
at its sole election by written notice provided to such Holder. 
 ARTICLE IV 

ADDITIONAL AGREEMENTS 
 4.1
Waiver of Litigation. Each Holder agrees not to commence, join in, and agrees to take all actions necessary to opt out of any class in any class action with respect to, any claim, derivative or otherwise, against any Seller or the Company
or any of their respective affiliates and each of their successors or directors relating to the negotiation, execution or delivery of this Agreement or the Master Transaction Agreement or the consummation of the transactions contemplated hereby or
thereby, including any claim (a) challenging the validity of, or seeking to enjoin the operation of, any provision of this Agreement or the Master Transaction Agreement (including any claim seeking to enjoin or delay the Closing) or
(b) alleging a breach of any fiduciary duty of the Liberty Parent Board in connection with the negotiation and entry into this Agreement, the Master Transaction Agreement or the transactions contemplated hereby or thereby, and hereby
irrevocably waives any claim or rights whatsoever with respect to any of the foregoing. 
 4.2 Further Assurances. Each Holder
agrees that from and after the date of this Agreement and until the Termination Date, each Holder shall take no action that would reasonably be likely to adversely affect or delay the ability to perform its respective covenants and agreements under
this Agreement. In connection with the Closing, each Holder agrees to execute and deliver to the Company counterparts to the A&R Stockholders Agreement and Registration Rights Agreement upon delivery of executed counterparts of the other parties
thereto and to terminate the Existing Stockholders Agreement pursuant to Section 2.5(a)(iv) of the Master Transaction Agreement. 

4.3 Fiduciary Duties. Each Holder is entering into this Agreement solely in its capacity as the record or Beneficial Owner of the
Shares and nothing herein is intended to or shall limit or affect any actions taken by any of such Holder’s designees serving in his or her capacity as a director of the Company (or a Subsidiary of the Company). The taking of any actions (or
failures to act) by such Holder’s designees serving as a director of the Company (in such capacity as a director) shall not be deemed to constitute a breach of this Agreement. 

  
 5 

 ARTICLE V 

REPRESENTATIONS AND WARRANTIES OF HOLDERS 

5.1 Representations and Warranties. Each Holder hereby represents and warrants as follows: 

(a) Ownership. Such Holder has, with respect to the Shares, and at all times during the term of this Agreement will continue to have,
Beneficial Ownership of, good and valid title to and full and exclusive power to vote, issue instructions with respect to the matters set forth in Article III, agree to all of the matters set forth in this Agreement and to Transfer the
Shares. The Shares constitute all of the shares of Liberty Parent Common Stock owned of record or beneficially by such Holder as of the date of this Agreement. Other than this Agreement, (i) there are no agreements or arrangements of any kind,
contingent or otherwise, to which such Holder is a party obligating such Holder to Transfer or cause to be Transferred to any person any of the Shares and (ii) no Person has any contractual or other right or obligation to purchase or otherwise
acquire any of the Shares. 
 (b) Organization; Authority. Such Holder is duly organized, validly existing and in good standing under
the Laws of its jurisdiction of formation and has full power and authority and is duly authorized to make, enter into and carry out the terms of this Agreement and to perform its obligations hereunder. This Agreement has been duly and validly
executed and delivered by such Holder and (assuming due authorization, execution and delivery by the Sellers) constitutes a valid and binding agreement of such Holder, enforceable against such Holder in accordance with its terms (except in all cases
as such enforceability may be limited by bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and similar laws of general applicability relating to or affecting creditors’ rights and to general equity principles), and no
other action is necessary to authorize the execution and delivery by such Holder or the performance of such Holder’s obligations hereunder. 

(c) No Violation. The execution, delivery and performance by such Holder of this Agreement will not (i) violate any provision of
any Law applicable to such Holder; (ii) violate any order, judgment or decree applicable to such Holder or any of its Affiliates; or (iii) conflict with, or result in a breach or default under, any agreement or instrument to which such
Holder or any of its Affiliates is a party or any term or condition of its certificate of limited partnership or limited partnership agreement, except where such conflict, breach or default would not reasonably be expected to, individually or in the
aggregate, have an adverse effect on such Holder’s ability to satisfy its obligations hereunder. 
 (d) Consents and Approvals.
The execution and delivery by such Holder of this Agreement does not, and the performance of such Holder’s obligations hereunder, require such Holder or any of its Affiliates to obtain any consent, approval, authorization or permit of, or to
make any filing with or notification to, any person or Governmental Authority, except such filings and authorizations as may be required under the Exchange Act. 

(e) Absence of Litigation. To the knowledge of such Holder, as of the date of this Agreement, there is no Action pending against, or
threatened in writing against such Holder that would prevent the performance by such Holder of its obligations under this Agreement or to consummate the transactions contemplated hereby or by the Master Transaction Agreement, including the
Transaction, on a timely basis. 
 (f) Absence of Other Voting Agreements. Other than pursuant to Permitted Liens, none of the Shares
is subject to any voting trust, proxy or other agreement, arrangement or restriction with respect to voting, in each case, that is inconsistent with this Agreement, except as disclosed in the Liberty Reports and as contemplated by this Agreement.
None of the Shares is subject to any pledge agreement pursuant to which such Holder does not retain sole and exclusive voting rights with respect to the Shares subject to such pledge agreement at least until the occurrence of an event of default
under the related debt instrument. 

  
 6 

 ARTICLE VI 

MISCELLANEOUS 
 6.1 No
Solicitation. Each Holder agrees that it will not, and will cause its Affiliates not to, and will use commercially reasonable efforts to cause its and their Representatives not to, directly or indirectly, take any of the actions listed in
clauses (i)—(v) of Section 4.7(b) of the Master Transaction Agreement (without giving effect to any amendment or modification of such clauses after the date of this Agreement). Each Holder shall, and shall cause its Affiliates to, and
shall use its commercially reasonable efforts to cause its and their Representatives to, immediately cease, and cause to be terminated, any discussions or negotiations conducted before the date of this Agreement with any Person other than the
Sellers with respect to any inquiry, proposal or offer that constitutes, or would reasonably be expected to lead to, a Competing Proposal. In addition, each Holder agrees to be subject to Section 4.7(c) of the Master Transaction Agreement
(without giving effect to any amendment or modification of such clauses after the date of this Agreement) as if such Holder were “Liberty Parent” thereunder. Notwithstanding the foregoing, to the extent the Company complies with its
obligations under Section 6.3 of the Master Transaction Agreement and participates in discussions or negotiations with a Person regarding a Competing Proposal, each Holder and/or any of its Representatives may engage in discussions or
negotiations with such Person to the extent that the Company can act under Section 6.3 of the Master Transaction Agreement. 
 6.2
Termination. This Agreement shall terminate on the Termination Date. Neither the provisions of this Section 6.2 nor the termination of this Agreement shall relieve (x) any party hereto from any liability of
such party to any other party incurred prior to such termination or (y) any party hereto from any liability to any other party arising out of or in connection with a breach of this Agreement. Nothing in the Master Transaction Agreement shall
relieve any Holder from any liability arising out of or in connection with a breach of this Agreement. 
 6.3 Notices. All
notices, requests and other communications to any party under, or otherwise in connection with, this Agreement shall be in writing and shall be deemed to have been duly given (a) if delivered in person; (b) if transmitted by electronic
mail (“e-mail”) (but only if confirmation of receipt of such e-mail is requested and received; provided, that each notice party shall use
reasonable best efforts to confirm receipt of any such email correspondence promptly upon receipt of such request); or (c) if transmitted by national overnight courier, in each case as addressed as follows: 

if to any Holder, to: 
 712
Fifth Avenue, 51st Floor 
 New York, New York 10019 

Attention:     General Counsel 

E-mail:         scoats@riverstonellc.com 

  
 7 

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

Willkie Farr & Gallagher LLP 

787 Seventh Avenue 
 New York,
New York 10019 
 Attention:     Jeffrey S. Hochman 

E-mail:         jhochman@willkie.com 

and, if to a Seller, to: 

Schlumberger Technology Corporation 

Address:       3600 Briarpark Drive 

             Houston, Texas 77042 

Attention:     General Counsel 

E-mail:         slaureles@slb.com 

With copies (which shall not constitute notice) to: 

Kirkland & Ellis LLP 

609 Main Street, Suite 4700 

Houston, Texas 77002 

Attention:       Sean T. Wheeler, P.C. 

              Kim Hicks, P.C. 

E-mail:           sean.wheeler@kirkland.com 

              kim.hicks@kirkland.com 

Schlumberger Limited 

Address:     5599 San Felipe 

                   Houston, Texas 77056 

Attention:   Director of Corporate Legal Affairs 

E-mail:       slaureles@slb.com 

if to the Company to: 
 Liberty
Oilfield Services Inc. 
 Address:        950 17th
Street, Suite 2400 

                      Denver,
Colorado 80202 
 Attention:      General Counsel 

E-mail:           Sean.Elliott@libertyfrac.com 

  
 8 

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

Vinson & Elkins L.L.P. 

1001 Fannin, Suite 2500 

Houston, Texas 77002 

Attention:     David P. Oelman 

                     Stephen M. Gill

 E-mail:         doelman@velaw.com 

                     sgill@velaw.com

 6.4 Amendment; Waiver. 

(a) This Agreement shall not be amended or modified except by written instrument duly executed by each of the parties. 

(b) No waiver of any term or provision of this Agreement shall be effective unless in writing, signed by the party against whom enforcement of
the same is sought. The grant of a waiver in one instance does not constitute a continuing waiver in any other instances. No failure by any party to exercise, and no delay by any party in exercising, any right, remedy, power or privilege hereunder
shall operate as a waiver thereof 
 6.5 Counterparts; Signatures. This Agreement may be executed in one or more counterparts,
all of which shall be considered one and the same agreement, and shall become effective when one or more counterparts have been signed by each of the parties and delivered to the other parties. Each party acknowledges that it and the other parties
may execute this Agreement by facsimile or pdf signature. Each party expressly adopts and confirms each such facsimile or pdf signature made in its respective name as if it were a manual signature, agrees that it will not assert that any such
signature is not adequate to bind such party to the same extent as if it were signed manually, and agrees that at the reasonable request of the other parties at any time it will as promptly as reasonably practicable cause this Agreement to be
manually executed (any such execution to be as of the date of the initial date thereof). 
 6.6 Assignment and Binding Effect.
Except in connection with a permitted Transfer pursuant to Article II, no party may assign, delegate or otherwise transfer this Agreement or any of its rights or obligations hereunder, by operation of law or otherwise, without the prior
written consent of the other parties, and any such attempted assignment, delegation or transfer shall be void. Subject to the preceding sentence, this Agreement will be binding upon, inure to the benefit of and be enforceable by the parties and
their respective successors, permitted transferees and permitted assigns; provided, however, that the Company is an express third party beneficiary of this Agreement and shall be entitled to enforce any matters applicable to the
Company. Except as expressly set forth in the prior sentence, (a) none of the provisions of this Agreement shall be for the benefit of or enforceable by any third party, including any creditor of any party hereto or any of their Affiliates
and (b) no such third party shall obtain any right under any provision of this Agreement or shall by reasons of any such provision make any claim in respect of any liability (or otherwise) against any other party hereto. 

  
 9 

 6.7 Entire Agreement. This Agreement (including the schedule hereto)
constitutes the entire agreement between the parties with respect to the subject matter hereof and thereof and supersede all previous agreements, negotiations, discussions, understandings, writings, commitments and conversations between the parties
with respect to such subject matter. No agreements or understandings exist among the parties other than those set forth or referred to herein or therein. 

6.8 Severability. If any provision of this Agreement or the application thereof to any Person or circumstance is determined by a
court of competent jurisdiction to be invalid, void or unenforceable, the remaining provisions hereof, or the application of such provision to Persons or circumstances or in jurisdictions other than those as to which it has been held invalid or
unenforceable, shall remain in full force and effect and shall in no way be affected, impaired or invalidated thereby, so long as the economic or legal substance of the transactions contemplated hereby or thereby, as the case may be, is not affected
in any manner adverse to any party. Upon such determination, the parties shall negotiate in good faith in an effort to agree upon such a suitable and equitable provision to effect the original intent of the parties. In the event the parties are not
able to agree, such provision shall be construed by limiting and reducing it so that such provision is valid, legal, and fully enforceable while preserving to the greatest extent permissible the original intent of the parties; the remaining terms
and conditions of this Agreement shall not be affected by such alteration. 
 6.9 No Partnership, Agency or Joint Venture. This
Agreement is intended to create, and creates, a contractual relationship and is not intended to create, and does not create, any agency, partnership, joint venture, any like relationship between the parties hereto or a presumption that the parties
are in any way acting in concert or as a group with respect to the obligations or the transactions contemplated by this Agreement. 
 6.10
Governing Law; Venue; Waiver of Jury Trial. 
 (a) THIS AGREEMENT, AND ALL CLAIMS OR CAUSES OF ACTION (WHETHER IN CONTRACT OR
TORT) THAT MAY BE BASED UPON, ARISE OUT OF RELATE TO THIS AGREEMENT, OR THE NEGOTIATION, EXECUTION OR PERFORMANCE OF THIS AGREEMENT, SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE, WITHOUT GIVING EFFECT TO
THE PRINCIPLES OF CONFLICTS OF LAW THEREOF. 
 (b) EACH PARTY TO THIS AGREEMENT ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE
UNDER THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE IT HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF,
RELATING TO OR RESULTING FROM THIS AGREEMENT, OR THE CONTEMPLATED TRANSACTIONS. EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT (A) NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER
PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE EITHER OF SUCH WAIVERS, (B) IT UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF SUCH WAIVERS, (C) IT MAKES SUCH WAIVERS VOLUNTARILY, AND (D) IT HAS BEEN INDUCED TO ENTER
INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 6.10. 

  
 10 

 (c) THE PARTIES HEREBY AGREE THAT ANY SUIT, ACTION OR PROCEEDING SEEKING TO ENFORCE ANY
PROVISION OF, OR BASED ON ANY MATTER RELATING TO, ARISING OUT OF OR RESULTING FROM OR IN CONNECTION WITH, THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY, WHETHER IN CONTRACT, TORT OR OTHERWISE, SHALL BE BROUGHT IN THE COURT OF CHANCERY OF
THE STATE OF DELAWARE OR IF SUCH COURT DOES NOT HAVE JURISDICTION, IN ANY FEDERAL COURT WITHIN THE STATE OF DELAWARE ONLY, AND THAT ANY CAUSE OF ACTION RELATING TO, ARISING OUT OF OR RESULTING FROM THIS AGREEMENT SHALL BE DEEMED TO HAVE ARISEN FROM
A TRANSACTION OF BUSINESS IN THE STATE OF DELAWARE. EACH OF THE PARTIES HEREBY IRREVOCABLY CONSENTS TO THE JURISDICTION OF SUCH COURTS (AND OF THE APPROPRIATE APPELLATE COURTS THEREFROM) IN ANY SUCH SUIT, ACTION OR PROCEEDING AND IRREVOCABLY WAIVES,
TO THE FULLEST EXTENT PERMITTED BY LAW, ANY OBJECTION THAT IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF THE VENUE OF ANY SUCH SUIT, ACTION OR PROCEEDING IN ANY SUCH COURT OR THAT ANY SUCH SUIT, ACTION OR PROCEEDING THAT IS BROUGHT IN ANY SUCH COURT
HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. EACH OF THE PARTIES HERETO AGREES THAT A JUDGMENT IN ANY SUCH ACTION MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW. 

(d) Each of the parties hereto hereby consents to process being served by any party to this Agreement in any suit, Action or proceeding by the
delivery of a copy thereof in accordance with the provisions of Section 6.1 or in such other manner as may be permitted by law. 

6.11 Expenses. All fees and expenses incurred in connection with this Agreement and the transactions contemplated hereby shall be
paid by the party incurring such fees or expenses, whether or not the Transaction is consummated. 
 6.12 Non-Recourse. This Agreement may only be enforced against, and any claim or cause of action based upon, arising out of, or related to this Agreement or the transactions contemplated by this Agreement may
only be brought against, the entities that are expressly named as parties hereto and then only with respect to the specific obligations set forth herein with respect to such party. Except to the extent a named party to this Agreement (and then only
to the extent of the specific obligations undertaken by such named party in this Agreement and not otherwise), no past, present or future director, manager, officer, employee, incorporator, member, partner, equity holder, Affiliate, agent, attorney,
advisor, consultant or Representative or Affiliate of any of the foregoing shall have any liability (whether in contract, tort, equity or otherwise) for any one or more of the representations, warranties, covenants, agreements or other obligations
or liabilities of any one or more party under this Agreement (whether for indemnification or otherwise) or of or for any claim based on, arising out of, or related to this Agreement or the transactions contemplated by this Agreement. 

  
 11 

 6.13 Injunctive Relief. The parties agree that irreparable damage, for which
monetary damages would not be an adequate remedy, would occur in the event that any of the provisions of this Agreement were not performed in accordance with their specific terms or were otherwise breached by the parties. Prior to the termination of
this Agreement pursuant to Section 6.2, it is accordingly agreed that the parties shall be entitled to an injunction or injunctions, or any other appropriate form of specific performance or equitable relief, to prevent
breaches of this Agreement and to enforce specifically the terms and provisions hereof in any court of competent jurisdiction, in each case in accordance with this Section 6.13, this being in addition to any other remedy to
which they are entitled under the terms of this Agreement at Applicable Law or in equity. Each party accordingly agrees (a) the non-breaching party will be entitled to injunctive and other equitable
relief, without proof of actual damages; and (b) the alleged breaching party will not raise any objections to the availability of the equitable remedy of specific performance to prevent or restrain breaches or threatened breaches of, or to
enforce compliance with, the covenants and obligations of such party under this Agreement and will not plead in defense thereto that there are adequate remedies under Applicable Law, all in accordance with the terms of this
Section 6.13. Each party further agrees that no other party or any other Person shall be required to obtain, furnish or post any bond or similar instrument in connection with or as a condition to obtaining any remedy
referred to in this Section 6.13, and each party irrevocably waives any right it may have to require the obtaining, furnishing or posting of any such bond or similar instrument. 

6.14 No Ownership Interest. Nothing contained in this Agreement shall be deemed to vest in either Seller any direct or indirect
ownership or incidence of ownership of or with respect to the Shares. All rights, ownership and economic benefits of and relating to the Shares shall remain vested in and belong to Holders, and the Sellers shall not have any authority to manage,
direct, restrict, regulate, govern or administer any of the policies or operations of the Company or exercise any power or authority to direct Holders in the voting or disposition of any Shares, except as otherwise expressly provided herein. 

6.15 Disclosure. Each Holder consents to and authorizes the publication and disclosure by the Company and the Sellers of such
Holder’s identity and holding of Shares, and the terms of this Agreement (including, for avoidance of doubt, the disclosure of this Agreement), in any press release, the Proxy Statement, and any other disclosure document required in connection
with the Master Transaction Agreement, the Transaction and the transactions contemplated by the Master Transaction Agreement. 
 6.16
Interpretation. The parties have participated jointly in negotiating and drafting this Agreement. In the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as jointly drafted by the
parties, and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provision of this Agreement. When a reference is made in this Agreement to Articles or Sections, such reference shall be
to an Article or Section of this Agreement unless otherwise indicated. The headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement. Whenever the words
“include,” “includes” or “including” are used in this Agreement, they shall be deemed to be followed by the words “without limitation.” As used in this Agreement, the “knowledge” of Holders means the
actual knowledge of any officer of any Holder after due inquiry. Notwithstanding anything in this Agreement to the contrary, each Holder’s representations, warranties and obligations hereunder are only with respect to itself and the Shares it
owns, and is not responsible for any breach by the other Holder or with respect to such other Holder’s Shares. 
 [Signature Page
Follows] 

  
 12 

 IN WITNESS WHEREOF, the parties hereto, intending to be legally bound hereby, have executed
or caused this Agreement to be executed in counterparts, all as of the day and year first above written. 
  

			
	SCHLUMBERGER TECHNOLOGY CORPORATION
		
	By:	 	 /s James McDonald

	Name: James McDonald
	Title: President
	
	SCHLUMBERGER CANADA LIMITED
		
	By:	 	 /s/ Matthew Bryan

	Name: Matthew Bryan
	Title: President

 [Signature Page to the Voting and Support Agreement] 

 
			
	LIBERTY OILFIELD SERVICES INC.
		
	By:	 	 /s/ Christopher A. Wright

	Name: Christopher A. Wright
	Title: Chief Executive Officer

 [Signature Page to the Voting and Support Agreement] 

 
			
	R/C IV LIBERTY HOLDINGS, L.P.
	
	By: Riverstone/Carlyle Energy Partners IV, L.P.,
	its general partner
	
	By: R/C Energy GP IV, LLC,
	its general partner
		
	By:	 	 /s/ Peter Haskopoulos

	Name: Peter Haskopoulos
	Title: Authorized Person
	
	R/C ENERGY IV DIRECT PARTNERSHIP, L.P.
	
	By: Riverstone/Carlyle Energy Partners IV, L.P.,
	its general partner
	
	By: R/C Energy GP IV, LLC,
	its general partner
		
	By:	 	 /s/ Peter Haskopoulos

	Name: Peter Haskopoulos
	Title: Authorized Person

 [Signature Page to the Voting and Support Agreement] 

 Schedule I 

Number of Shares Beneficially Owned 

R/C IV Liberty Holdings, L.P.: 
 Liberty Parent
Class A Shares: 2,586,344 
 Liberty Parent Class B Shares: 21,204,564 

R/C Energy IV Direct Partnership, L.P.: 
 Liberty Parent
Class A Shares: 10,264,088 
 Liberty Parent Class B Shares: 0 

  
 [Annex A to the Voting
and Support Agreement]

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