Document:

Members Agreement dated March 1, 2004

 Exhibit 10.6 
  
 EXECUTIVE COPY 
  
 MEMBERS AGREEMENT 
  
 This MEMBERS AGREEMENT (this “Agreement”) is made as of March 1, 2004 by and among Atlantic Broadband Group, LLC, a Delaware limited
liability company (the “Company”), ABRY Partners IV, L.P., a Delaware limited partnership (“ABRY”), the other Members (as defined herein) and Option Holders (as defined herein) signatories hereto as of the date
hereof and the Members and Option Holders who are from time to time joined hereto after the date hereof. Capitalized terms used herein and not otherwise defined herein shall have the meanings assigned to such terms in Section 1 hereof.

  
 WHEREAS, each Member and Option Holder holds the number and
type of Member Interests set forth opposite such Member’s or Option Holder’s name on Schedule I attached hereto; and 
  
 WHEREAS, the parties hereto desire to enter into this Agreement for the purposes, among others, of (i) assuring continuity in the management and ownership
of the Company and (ii) limiting the manner and terms by which the Member Interests may be transferred. 
  
 NOW, THEREFORE, in consideration of the mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties hereby agree as follows: 
  
 1. Definitions. As used herein, the following terms shall have the following meanings: 
  
 “ABRY Member” means any Member who holds ABRY Member Interests but only with respect to, and to the extent that such Member holds, ABRY
Member Interests. 
  
 “ABRY Member Interests”
means those Member Interests initially issued to ABRY or its Affiliates (including, except for the purposes of Section 2(a)(i) hereof, AMP). 
  
 “Affiliate” shall mean, as to any Person, any other Person which directly or indirectly controls, or is under common control with, or is
controlled by, such Person. As used in this definition, “control” (including, with its correlative meanings, “controlled by” and “under common control with”) shall mean possession, directly or indirectly, of power to
direct or cause the direction of management or policies (whether through ownership of securities or partnership or other ownership interests, by contract or otherwise). 
  
 “AMP” means ABRY Mezzanine Partners, L.P., a Delaware limited partnership. 
  
 “Approved Sale” means the sale of the Company, in a single
bona fide arm’s length transaction or a series of related bona fide arm’s length transactions, to a third party (which is not (i) an Affiliate of the Company or of the Approving Members, (ii) a Person that qualifies as a Permitted
Transferee of any Affiliate of the Company or any Approving Member or (iii) a group consisting of any of the foregoing), (i) pursuant to which such third party proposes to acquire Common Units representing a majority of the outstanding Points on a
fully 

 diluted basis (whether by merger, consolidation, recapitalization, reorganization, purchase of the outstanding Common
Units or otherwise), or all or substantially all of the consolidated assets of the Company, (ii) which has been approved by the Board and the holders of Voting Units (as defined in the Operating Agreement) representing a majority of the Points
represented by Voting Units (the “Approving Members”), and (iii) pursuant to which, upon the consummation of the Approved Sale, each holder of Equity Securities shall receive the same form of consideration and the same portion of
the aggregate net consideration (following the payment of the reasonable expenses incurred by holders of Equity Securities in connection with such Approved Sale to the extent such expenses are approved by the Approving Members and are not otherwise
paid by the Company or the acquiring party) as such holder would have received if such aggregate net consideration had been distributed by the Company in complete liquidation pursuant to the rights and preferences set forth in the Operating
Agreement as in effect immediately prior to the consummation of the Approved Sale (and, if less than all of the outstanding Equity Securities are being sold in the Approved Sale, then the form and portions of aggregate consideration shall be
determined as if the Equity Securities included in the Approved Sale were all of the outstanding Equity Securities then outstanding), or, if any holders of any type of Equity Securities are given an option as to the form and amount of consideration
to be received, all holders of Equity Securities of such type are given the same option. 
  
 “Asset Purchase Agreement” has the meaning set forth in the Preferred Securities Purchase Agreement. 
  
 “Board” means the Company’s board of managers and any committee or subcommittee thereof. 
  
 “Business Day” means any day other than a Saturday, Sunday
or day on which commercial banks in New York, New York are authorized or required by law to close. 
  
 “Cash Equity Contribution Adjustment” has the meaning set forth in the Preferred Securities Purchase Agreement. 
  
 “Class A Common Unit” means the Company’s Class A
Common Units (as defined in the Operating Agreement), as adjusted for any Unit split, Unit dividend or other combination, exchange, conversion, recapitalization, merger, consolidation or reorganization, or, if the Class A Common Units are hereafter
changed or exchanged for different Units, interests or securities of the Company, such other Units, interests or securities, and any other Class A Common Units of the Company hereafter issued. 
  
 “Class B Common Unit” means the Company’s Class B
Common Units (as defined in the Operating Agreement), as adjusted for any Unit split, Unit dividend or other combination, exchange, conversion, recapitalization, merger, consolidation or reorganization, or, if the Class B Common Units are hereafter
changed or exchanged for different Units, interests or securities of the Company, such other Units, interests or securities, and any other Class B Common Units of the Company hereafter issued. 
  
 “Class C Common Unit” means the Company’s Class C
Common Units (as defined in the Operating Agreement), as adjusted for any Unit split, Unit dividend or other 
  

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 combination, exchange, conversion, recapitalization, merger, consolidation or reorganization, or, if the Class C Common
Units are hereafter changed or exchanged for different Units, interests or securities of the Company, such other Units, interests or securities, and any other Class C Common of the Company hereafter issued. 
  
 “Class D Common Unit” means the Company’s Class D
Common Units (as defined in the Operating Agreement), as adjusted for any Unit split, Unit dividend or other combination, exchange, conversion, recapitalization, merger, consolidation or reorganization, or, if the Class D Common Units are hereafter
changed or exchanged for different Units, interests or securities of the Company, such other Units, interests or securities, and any other Class D Common Units of the Company hereafter issued. 
  
 “Class E Common Unit” means the Company’s Class E
Common Units (as defined in the Operating Agreement), as adjusted for any Unit split, Unit dividend or other combination, exchange, conversion, recapitalization, merger, consolidation or reorganization, or, if the Class E Common Units are hereafter
changed or exchanged for different Units, interests or securities of the Company, such other Units, interests or securities, and any other Class E Common Units of the Company hereafter issued. 
  
 “Common Capital Value” has the meaning set forth in the
Operating Agreement. 
  
 “Common Member” means
any Member who holds Common Units but only with respect to, and to the extent that such Member holds, Common Units. 
  
 “Common Units” has the meaning set forth in the Operating Agreement. For purposes of this Agreement, a Person will be deemed to be a
holder of Common Units whenever such Person has the right to acquire directly or indirectly such Common Units (upon conversion or exercise in connection with a transfer of securities or otherwise, but disregarding any restrictions or limitations
upon the exercise of such right), whether or not such acquisition has actually been effected. The Series A Preferred Units are not Common Units. 
  
 “Confidential Information” means all information (whether technical, marketing, business, financial or otherwise), in whatever form
(whether tangible, orally communicated, physically communicated or disclosed in writing, electronically or otherwise, including without limitation information disclosed by samples or demonstrations of processes, techniques or equipment) which is
disclosed to any Member or Option Holder prior to or subsequent to the date of this Agreement and which relates in any way to the Company or any of its Subsidiaries, their respective technology and their respective businesses, including any
information received by any Member or Option Holder in connection with any Board observer rights to which such Member or Option Holder is entitled pursuant to Section 3 hereof or any other Transaction Document; provided that
Confidential Information shall not include, as to any particular Member or Option Holder, information that (a) was publicly known or otherwise known to such Member or Option Holder at the time it was disclosed to such Member or Option Holder, (b)
subsequently becomes publicly known through no act or omission by such Member or Option Holder or any Person acting on its behalf, (c) otherwise becomes known to such Member or Option Holder (other than through disclosure by the Company or any
Subsidiary) from a source that to the knowledge of such Member or Option Holder is not subject to a requirement of confidentiality 
  

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 with respect to the Company or any Subsidiary or such information or (d) constitutes financial statements delivered to
such Member or Option Holder that are otherwise publicly available. 
  
 “Continuing Class A-1 Common Holder” means OHCP, at any time when the Oak Hill Purchasers, together with their Affiliates, hold Class A Common Units that constitute a majority of the Class A Common Units acquired by the Oak
Hill Purchasers on the date of this Agreement. 
  
 “Continuing Class A-2 Common Holder” means (i) Northwestern, at any time when Northwestern, together with its Affiliates, holds Class A Common Units that constitute a majority of the Class A Common Units acquired by
Northwestern on the date of this Agreement, or (ii) New York Life, at any time when New York Life, together with its Affiliates, holds Class A Common Units that constitute a majority of the Class A Common Units acquired by New York Life on the date
of this Agreement. 
  
 “Continuing Class E Common
Holder” means (i) Northwestern, at any time when Northwestern, together with its Affiliates, holds Class E Common Units that constitute a majority of the Class E Common Units acquired by Northwestern on the date of this Agreement, or (ii)
New York Life, at any time when New York Life, together with its Affiliates, holds Class E Common Units that constitute a majority of the Class E Common Units acquired by New York Life on the date of this Agreement. 
  
 “Continuing Series A Preferred Holder” means (i)
Northwestern, at any time when Northwestern, together with its Affiliates, holds Series A Preferred Units that constitute a majority of the Series A Preferred Units acquired by Northwestern on the date of this Agreement, or (ii) New York Life, at
any time when New York Life, together with its Affiliates, holds Series A Preferred Units that constitute a majority of the Series A Preferred Units acquired by New York Life on the date of this Agreement. 
  
 “Convertible Security” has the meaning set forth in the
Operating Agreement. 
  
 “Delaware Act” means the
Delaware Limited Liability Company Act, as the same may be amended from time to time. 
  
 “Equity Securities” of the Company or any successor corporation of the Company means (i) any capital stock, partnership, membership, joint venture or other ownership or equity interest, participation
or securities (whether voting or non-voting, whether preferred, common or otherwise, and including any stock appreciation, contingent interest or similar right) of the Company or such successor corporation and (ii) any option, warrant, security or
other right (including debt securities) directly or indirectly convertible into or exercisable or exchangeable for, or otherwise to acquire directly or indirectly, any stock, interest, participation or security described in clause (i) above.

  
 “Exchange Act” means the Securities Exchange
Act of 1934, as amended from time to time. 
  
 “Fair
Market Value” means, with respect to any asset, the price (after taking into account any liabilities relating to such assets) which could be negotiated in an arm’s-length free 
  

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 market transaction, for cash, between a willing seller and a willing and able buyer, neither of which is under any
compulsion to complete the transaction as determined by the unanimous resolution of the Board. 
  
 “GAAP” means, at any date of determination, generally accepted accounting principles in effect in the United States at such time and which are consistently applied. 
  
 “Governmental Authority” means any Federal, state, local or
foreign government, or other entity (including, without limitation, any governmental or quasi-governmental agency or authority) exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government.

  
 “Holdings” means Atlantic Broadband Holdings
I, LLC, a Delaware limited liability company. 
  
 “Independent Financial Adviser” means a nationally recognized accounting, appraisal, investment banking firm or consultant in the United States that is, in the good faith judgment of the Board, independently qualified to
perform the task for which it has been engaged. 
  
 “Intellectual Property” means the collective reference to all rights, priorities and privileges relating to intellectual property, whether arising under United States, multinational or foreign laws or otherwise, including
copyrights, copyright licenses, patents, patent licenses, trademarks, trademark licenses, technology, know-how and processes, and all rights to sue at law or in equity for any infringement or other impairment thereof, including the right to receive
all proceeds and damages therefrom. 
  
 “Majority of the
Board” means, at any time, a combination of the directors on the Board having a majority of the votes (as determined in accordance with the Operating Agreement) of all of such directors who are then elected. 
  
 “Management Member” means any Member that holds Class B
Common Units and/or Class D Common Units but only with respect to, and to the extent that such Member holds, Class B Common Units and/or Class D Common Units. 
  

“Marketable Securities” means securities listed on a national securities exchange or quoted in the NASDAQ Stock Market System.

  
 “Material Adverse Effect” means (i) a
material adverse effect on the business, assets, operations, or condition, financial or otherwise, of the Company and its Subsidiaries, taken as a whole, (ii) material impairment of the Company’s ability to perform any of its obligations under
this Agreement or any of the other Transaction Documents or (iii) a material impairment of the validity or enforceability of the rights of, or the benefits available to, the holders of any of the Member Interests under this Agreement or the other
Transaction Documents. 
  
 “Members” means each
holder of Member Interests identified as a Member on Schedule I attached hereto as of the date hereof who has executed this Agreement or a 
  

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 counterpart hereof and each Person who hereafter acquires Member Interests and becomes a party to this Agreement pursuant
to a joinder substantially in the form of Exhibit A attached hereto. 
  
 “Member Interests” means (i) any Unit, (ii) any Option and (iii) any Equity Securities issued or issuable directly or indirectly with respect to the securities referred to in clauses (i) and (ii)
above by way of distribution or of a combination, exchange, conversion or division of such securities or in connection with a recapitalization, merger, consolidation or other reorganization. As to any particular Units, Options or other Equity
Securities constituting Member Interests, such Units, Options or other Equity Securities will cease to be Member Interests when they have been sold in a Public Sale, an Approved Sale, or upon the consummation of a Qualified Public Offering. For
purposes of this Agreement, a Person will be deemed to be a holder of Member Interests whenever such Person has the right to acquire directly or indirectly such Member Interests (upon conversion or exercise in connection with a transfer of
securities or otherwise, but disregarding any restrictions or limitations upon the exercise of such right), whether or not such acquisition has actually been effected. 
  
 “Merrill” means Merrill Lynch Capital Corporation. 
  
 “New York Life” means New York Life Capital Partners, L.P.

  
 “Non-Management Member” means any Member that
is not a Management Member. 
  
 “Northwestern”
means The Northwestern Mutual Life Insurance Company. 
  
 “Oak Hill Member Interests” means those Member Interests initially issued to the Oak Hill Purchasers or their Affiliates. 
  
 “Oak Hill Purchasers” means OHCP, Oak Hill Capital Management Partners, L.P., OHCP Atlantic, L.L.C. and The Board of Trustees of the
Leland Stanford Junior University (DAPER 2). 
  
 “OHCP” means Oak Hill Capital Partners, L.P., a Delaware limited partnership. 
  
 “Operating Agreement” means the Amended and Restated Limited Liability Company Agreement of the Company, dated as of the date hereof, by
and among the Company and the Members and Option Holders party thereto, as amended, restated or otherwise modified from time to time. 
  
 “Option” has the meaning set forth in the Operating Agreement. 
  
 “Option Holders” means each holder of an Option identified as an Option Holder on Schedule I
attached hereto as of the date hereof who has executed this Agreement or a counterpart hereof and each Person who hereafter acquires an Option and becomes a party to this Agreement as an “Option Holder” pursuant to a joinder substantially
in the form of Exhibit B attached hereto and who is identified as an Option Holder on Schedule I attached hereto. 
  

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 “Other Members” means, with respect to any Member, all Members other than such Member.

  
 “Person” means an individual, a partnership,
a corporation, a limited liability company, an association, a joint stock company, a trust, a joint venture, an unincorporated organization or a governmental entity or any department, agency or political subdivision thereof. 
  
 “Points” has the meaning set forth in the Operating
Agreement. Except as otherwise provided in this Agreement, the number or percentage of Points with respect to any Unit for purposes of this Agreement will be the number or percentage of the Points that such Unit has for purposes of Section
7.2(h) of the Operating Agreement. For purposes of calculating (i) the number of Common Units an Option Holder or any other Member will be entitled to sell in a contemplated Transfer pursuant to Section 5(a) hereof, (ii) the number of Options
or Common Units, as the case may be, an Option Holder or any other Member will be entitled to purchase pursuant to Section 5(b) hereof and (iii) the number of Offered Units an Option Holder or any other Member will be offered by the Company
and entitled to purchase pursuant to Section 8 hereof, such Option Holder shall be deemed to own the number of Common Units for which such Option Holder’s Options may be exercised at the time such Option Holder (i) gives notice to the
Transferring Member of such Option Holder’s desire to participate in the proposed Transfer, (ii) delivers a Participation Notice or (iii) delivers an Election Notice, as applicable. 
  
 “Preferred Securities Purchase Agreement” means the Preferred Securities Purchase Agreement, dated as of
the date hereof, by and among the Company and the purchasers parties thereto, as in effect from time to time. 
  
 “Public Sale” means any sale of Member Interests to the public pursuant to an offering registered under the Securities Act or to the
public effected through a broker, dealer or market maker pursuant to the provisions of Rule 144 under the Securities Act. 
  
 “Qualified Member” means any Member that either holds any Series A Preferred Unit, holds any Class E Common Unit, or is a Continuing
Class A-2 Common Holder. 
  
 “Qualified Public
Offering” means any sale, in an underwritten public offering registered under the Securities Act, of Equity Securities having an aggregate value of at least $75.0 million. 
  
 “Registration Rights Agreement” means the Registration Rights Agreement, dated as of the date hereof, by
and among the Company and the Members and Option Holders party thereto, as in effect from time to time. 
  
 “Requirements of Law” means, as to any Person, the articles or certificate of incorporation and bylaws or other organizational,
constitutive or governing documents of such Person, and any law, treaty, rule or regulation, order or determination of an arbitrator or a court or other Governmental Authority, in each case, applicable to or binding upon such Person or any of its
property or to which such Person or any of its property is subject. 
  
 “Securities Act” means the Securities Act of 1933, as amended from time to time. 
  

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 “Series A Preferred Units” has the meaning set forth in the Operating Agreement.

  
 “Significant Subsidiaries” has the meaning
set forth in the Preferred Securities Purchase Agreement. 
  
 “Subsidiary” means, with respect to any Person, any corporation, partnership, limited liability company, association or other business entity of which (i) if a corporation, a majority of the total voting power of shares of
stock entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof is at the time owned or controlled, directly or indirectly, by that Person or one or more of the other
Subsidiaries of that Person or a combination thereof, or (ii) if a partnership, limited liability company, association or other business entity, a majority of the partnership or other similar ownership interest thereof is at the time owned or
controlled, directly or indirectly, by any Person or one or more Subsidiaries of that Person or a combination thereof. For purposes hereof, a Person or Persons shall be deemed to have a majority ownership interest in a partnership, limited liability
company, association or other business entity if such Person or Persons shall be allocated a majority of partnership, limited liability company, association or other business entity gains or losses or shall be or control or have the right to
appoint, as the case may be, the managing director, manager, board of advisors, a general partner or other governing body of such partnership, limited liability company, association or other business entity by means of ownership interest, agreement
or otherwise. 
  
 “Transaction Documents” means,
collectively, (i) this Agreement, (ii) the Operating Agreement, (iii) the Registration Rights Agreement, (iv) the Preferred Securities Purchase Agreement, (v) the Incentive Unit Purchase Agreements, dated as of the date hereof, by and between the
Company and the respective Management Members that are parties thereto, (vi) the Investors Securities Purchase Agreement, dated as of the date hereof, by and among the Company and the Members that are parties thereto, and (vii) the Option Agreement,
dated as of the date hereof, by and between the Company and GE Capital Corporation, in each case, as in effect from time to time. 
  
 “Unit” has the meaning set forth in the Operating Agreement. 
  
 “Unitholder” has the meaning set forth in the Operating Agreement. 
  
 “Unpaid Yield” has the meaning set forth in the Operating
Agreement. 
  
 “Vested Incentive Units” means
Class D Common Units that have vested pursuant to the terms and conditions of the incentive unit purchase agreement or other document pursuant to which such Units were acquired by the holder thereof or any other document governing the vesting of
such Units. 
  
 2. Board of Managers. 
  
 (a) Until the provisions of this Section 2 cease to be effective, each
Member shall vote all of his or its Member Interests which are entitled to vote and over which such Member has voting control and shall take all other necessary or desirable actions within his or its control (whether in his or its capacity as a
member, manager, director, member of a committee of the 
  

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 Board, or officer of the Company or otherwise, and including attendance at meetings in person or by proxy for purposes of
obtaining a quorum and execution of written consents in lieu of meetings), and the Company shall take all reasonably necessary or desirable actions within its control (including calling special Board and member meetings), so that: 
  
 (i) three directors (the “ABRY Directors”)
designated by Persons owning a majority of the ABRY Member Interests (“ABRY Majority Members”) shall be elected to the Board; 
  
 (ii) one director (the “Oak Hill Director”) designated by the Persons owning a majority of the Oak Hill Member Interests
(“Oak Hill Majority Members”) shall be elected to the Board; 
  
 (iii) the then current chief executive officer of the Company (the “CEO Director”) shall be elected to the Board; 
  
 (iv) Edward Holleran (the “COO Director”) shall be elected to the Board, for so long as he
serves as the chief operating officer of the Company; and 
  
 (v) one independent director (the “Independent Director”) shall be elected to the Board by a Majority of the Board; provided that, for purposes of this clause (v), a director shall be
“independent” if such director (A) is not an Affiliate of the Company or any of its Affiliates, (B) is not otherwise an employee of the Company or any of its Subsidiaries or Affiliates and (C) does not accept any consulting, advisory or
other compensatory fee from the Company or any of its Subsidiaries other than in his or her capacity as the Independent Director; 
  
 (vi) (A) any ABRY Director may be removed as a director at the written request of ABRY Majority Members; provided that no ABRY
Director will be removed from such position except as provided in this clause (vi)(A), (B) the Oak Hill Director may be removed as a director at the written request of Oak Hill Majority Members; provided that the Oak Hill Director will not be
removed from such position except as provided in this clause (vi)(B), (C) the CEO Director shall be removed as a director automatically and without further action of the Members if such CEO Director ceases to be the chief executive officer of the
Company, (D) Edward Holleran shall be removed as a director automatically and without further action of the Members if Edward Holleran ceases to be the chief operating officer of the Company, and (E) the Independent Director may be removed as a
director at the written request of a Majority of the Board; 
  
 (vii) if (A) any ABRY Director ceases to serve as a director during his or her term of office, the resulting vacancy on the Board shall be filled by a representative designated as provided in Section 2(a)(i)
above, (B) the Oak Hill Director ceases to serve as a director during his or her term of office, the resulting vacancy on the Board shall be filled by a representative designated as provided in Section 2(a)(ii) above, (C) the CEO Director
ceases to serve as a director during his or her term of office, the resulting vacancy on the Board shall be filled by the next individual appointed chief 
  

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 executive officer of the Company, (D) Edward Holleran ceases to serve as a director during his term of
office, the resulting vacancy on the Board may filled at the election of a Majority of the Board by a director appointed by a Majority of the Board and (E) the Independent Director ceases to serve as a director, the resulting vacancy on the Board
shall be filled in the manner provided in Section 2(a)(v) above; 
  
 (viii) at all times, the Oak Hill Director shall be a member of the board of directors or board of managers, as applicable, of each of the Company’s Subsidiaries (each a “Sub Board”) and each
committee of the Board or any Sub Board, unless the Oak Hill Director (by vote at a meeting of the Board or any Sub Board or by written consent in lieu of such a meeting) or the Oak Hill Majority Members (in writing) otherwise agree. The provisions
of Article III of the Operating Agreement relating to the Board and the directors shall apply to each Sub Board and each committee of the Board or any Sub Board, mutatis mutandi. 
  
 (b) The Company shall pay or reimburse the reasonable out-of-pocket expenses incurred by each member of the Board in
connection with attending the meetings of the Board or any Sub Board and each committee thereof. 
  
 (c) At the first meeting of the Board after the date of this Agreement, the Board shall adopt a set of standards of business conduct which shall establish
reasonable and prudent policies and guidelines for the Company, its Subsidiaries and their employees, including with respect to the following matters: conflicts of interest, ethical practices, trade regulation, payment and procurement policies,
legal compliance, employment discrimination, sexual harassment and environmental management. 
  
 (d) As and when the same are required to be delivered pursuant to Section 5A of the Preferred Securities Purchase Agreement, the Company will deliver to the Oak Hill Director (or to OHCP, on his or her behalf) those
reports and other materials that are described in such Section 5A but that are not required to be delivered pursuant to Section 13 of this Agreement. In addition, the Company will deliver to the Oak Hill Director (or to OHCP, on his or her
behalf) any other information concerning the Company and its Subsidiaries that the Oak Hill Director may reasonably request. 
  
 (e) The provisions of this Section 2 shall terminate automatically and be of no further force and effect upon a Qualified Public Offering or an
Approved Sale. 
  
 3. Observer Rights. Each Qualified
Member shall have the right to designate one (1) natural Person (each, a “Board Observer”) to attend (in person or telephonically, at such Person’s option) each meeting of the Board and the board of directors of each of the
Company’s Significant Subsidiaries and any committee of any such board of directors; provided that such Qualified Member will notify the Company from time to time of the identity of such Qualified Member’s Board Observer and such
Board Observer’s address (including facsimile number) for notice and other communications; provided, further, that any Board Observer may be excluded from any such meeting to the extent that the Board or such other board of
directors (or such committee) determines in good faith that such exclusion is required to preserve any evidentiary privilege or any portion of any such meeting during which the respective interests of the 
  

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 Company and its Subsidiaries and those of the Qualified Member in question, as to the matter(s) to be discussed or
actions to be taken during such portion of such meeting, conflict (in the good faith judgment of such board of directors). The Company will send, or cause to be sent, to each Qualified Member the notice of the time and place of any such meeting in
the same manner and at the same time as notice is sent to the members of each such board of directors or committee, as the case may be. The Company shall also provide, or cause to be provided, to each Qualified Member copies of all notices, reports,
minutes and other documents and materials at the same time and in the same manner as they are provided to the members of each such board of directors or committee; provided that the failure to deliver or make available one or more of the
items described in this sentence or the preceding sentence will have no impact on the validity of any action taken by such board of directors or such committee. If the Company or any of its Significant Subsidiaries proposes to take any action by
written consent in lieu of a meeting of its board of directors or any committee thereof, the Company or such Significant Subsidiary shall give a copy thereof to each Qualified Member within five (5) Business Days following the effective date of such
consent; provided that the failure to deliver or make available one or more of the items described in this sentence will have no impact on the validity of any action taken by such board of directors or committee. The Board shall meet at least
four (4) times per calendar year. The Company shall reimburse, or cause one of its Subsidiaries to reimburse, each Board Observer for all reasonable, documented out-of-pocket costs incurred by him or her in connection with traveling to and from and
attending such meetings of any such board of directors and committees of any such board of directors. 
  
 4. Conflicting Agreements. Each Member and Option Holder represents that such Member or Option Holder has not granted and is not a party to any
proxy, voting trust or other agreement which is inconsistent with or conflicts with the provisions of this Agreement or the Operating Agreement, and no Member or Option Holder shall grant any proxy or become party to any voting trust or other
agreement which is inconsistent with or conflicts with the provisions of this Agreement or the Operating Agreement. 
  
 5. Restrictions on Transfer of Member Interests. No holder of Member Interests shall Transfer (as defined below) any interest in any Member
Interest except (i)(A) in accordance with the terms and conditions of this Section 5 and Section 12 below, (B) pursuant to an Approved Sale in accordance with Section 6 below or (C) pursuant to a Public Sale and (ii) in
accordance with the terms and conditions of the Operating Agreement. Except for any Transfer made pursuant to Section 5(a), Section 5(c) or Section 6 below, no Management Member may Transfer any Class B Common Units and/or Class
D Common Units held by such Management Member unless such Transfer is approved in writing by a Majority of the Board and otherwise complies with the terms and conditions of this Section 5, Section 12 below and the Operating Agreement.

  
 (a) Tag Along Rights. Subject to Section 5(c)
below, at least 30 days prior to any sale, transfer, assignment, pledge or other transfer or disposal (a “Transfer”) of Units by any ABRY Member to a Person other than a Permitted Transferee of such ABRY Member, the ABRY Member (the
“Transferring Member”) proposing to transfer such Units shall deliver a written notice (the “Sale Notice”) to the Company and to each Other Member and each Option Holder, specifying in reasonable detail the identity
of the prospective transferee(s) and the terms and conditions of the Transfer. Each Other Member and each Option Holder may elect to 
  

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 participate in the contemplated Transfer, on the same terms as those set forth in the Sale Notice except as set forth in
this Section 5(a), by delivering written notice to the Transferring Member within 10 days following delivery of the Sale Notice; provided that a Management Member shall have the right to so participate only with respect to Class B
Common Units and Vested Incentive Units held by such Management Member at the time of delivery of such Sale Notice; provided, further, that an Option Holder may exercise participation rights with respect to a Transfer pursuant to this
Section 5(a) only if such Option Holder exercises all or part of such Option Holder’s Option, which exercise may be made by the Option Holder concurrently with, and contingent upon, the consummation of such Transfer. If one or more Other
Members and/or Option Holders have elected to participate in such Transfer, each of the Transferring Member and such Other Member or Option Holder shall be entitled to sell in the contemplated Transfer a number of (i) Common Units (if Common Units
are being Transferred by the Transferring Member) of any class (subject, in the case of a sale by any Management Member or Option Holder, to the provisos in the immediately preceding sentence) representing a number of Points equal to the product of
(A) the quotient determined by dividing (x) the percentage of Points represented by the Common Units owned by such Member or Option Holder by (y) the aggregate percentage of Points represented by the Common Units owned by the Members and
Option Holders participating in such Transfer, multiplied by (B) the aggregate number of Points represented by the Common Units to be sold in the contemplated Transfer and (ii) Series A Preferred Units (if Series A Preferred Units are
being transferred by the Transferring Member) representing a number of Series A Preferred Units equal to the product of (A) the quotient determined by dividing (x) the number of Series A Preferred Units owned by such Member or Option Holder by (y)
the total number of Series A Preferred Units represented by the Series A Preferred Units owned by the Members and Option Holders participating in such Transfer, multiplied by (B) the aggregate number of Series A Preferred Units to be sold in the
contemplated Transfer; provided, in each case, that each Member and Option Holder participating in such Transfer shall receive the same form of consideration and the same portion of the aggregate net consideration (net of any post-closing
adjustments following the payment of the reasonable expenses incurred by the Members and Option Holder in connection with such Transfer to the extent such expenses are approved by the Transferring Member and are not otherwise paid by the Company or
the acquiring party) as such holder would have received if such aggregate net consideration had been distributed by the Company in complete liquidation pursuant to the rights and preferences set forth in the Operating Agreement as in effect
immediately prior to the consummation of the Transfer (assuming that the Units included in the Transfer were all of the Equity Securities then outstanding); provided, further, that if the Transferring Member is AMP, then an Other
Member or Option Holder may elect to participate in such Transfer only if such Other Member or Option Holder is able to and does elect to include in such Transfer Units of each class or series of Units that AMP has proposed to include in such
Transfer, in the same proportions among such classes or series (if more than one) as AMP has proposed to include in such Transfer (treating Class A-1 Common Units and Class A-2 Common Units as a single “class” for purposes of this
Section 5(a), and treating Class E-1 Common Units and Class E-2 Common Units as a single “class” for purposes of this Section 5(a)), and AMP shall not be required to give a Sale Notice to any Other Holder or Option Holder who
does not hold Units of the classes and/or series that would permit such Other Holder or Option Holder to participate in such Transfer in compliance with this proviso; provided, further, that notwithstanding anything in the immediately
preceding proviso to the contrary, if immediately 
  

 12 

 prior to any such Transfer by AMP, AMP owns the same or a greater number of Series A Preferred Units or Class E Common
Units or both than Merrill and immediately following and as a result of such Transfer AMP would own a lesser number of Series A Preferred or Class E Common Units or both than Merrill, then Merrill (notwithstanding that at such time Merrill may not
own Units of each of the classes and/or series that AMP proposes to Transfer) may elect to participate in such Transfer by selling in such Transfer (in the place of Units that AMP would otherwise be able to sell in such Transfer) up to the amount of
Units of such class or series such that Merrill holds no more than the amount of such Units of such class or series to be owned by AMP immediately following and after giving effect to such Transfer. Each Member or Option Holder transferring Units
pursuant to this Section 5(a) shall be obligated to make customary representations and warranties as to such Member or Option Holder and the Units such Member or Option Holder is transferring and join in any indemnification or other
obligations that the Transferring Member agrees to provide in connection with such Transfer; provided, that each such joining Member’s or Option Holder’s liability arising under any such indemnification or other obligation with
respect to such Transfer (i) shall be several and not joint and limited to its pro rata share (based on the percentage of net cash proceeds received by such Member or Option Holder pursuant to such Transfer) of such liability and (ii) shall
in no event exceed the aggregate net cash proceeds actually received by such holder in connection with such Transfer. This Section 5(a) shall not apply to any Transfer pursuant to Section 6 below. 
  
 The Transferring Member shall use its commercially reasonable efforts to
obtain the agreement of the prospective Transferee(s) to the participation of the Other Members and Option Holders in any contemplated Transfer as provided in this Section 5(a), and the Transferring Member shall not Transfer any of its Units
to the prospective Transferee(s) if the prospective Transferee(s) declines to allow the participation of the Other Members and Option Holders as contemplated by this Section 5(a). 
  
 (b) First Offer Rights. 
  
 (i) Subject to Section 5(c) below, at least 30 days prior to any Transfer (A) of Common Units by any Common Member (other than a Transfer by an
ABRY Member or a Transfer of Class E Common Units together with a proportionate number of Series A Preferred Units) or (B) of any Option by any Option Holder, the Member or Option Holder making such Transfer (the “Offering Member”)
shall deliver a written notice (the “Transfer Notice”) to each Member and Option Holder other than such Offering Member (the “Eligible Purchasers”) specifying in reasonable detail the number (and type) of Member
Interests proposed to be Transferred (the “Specified Securities”), the proposed purchase price therefor and the other material terms and conditions of the proposed Transfer. 
  
 (ii) Each Eligible Purchaser may elect to purchase all or any portion of the
Specified Securities, upon the same terms and conditions as those set forth in the Transfer Notice, by delivering a written notice (a “Participation Notice”) of such election to the Offering Member within 15 days after the Transfer
Notice has been delivered to the Eligible Purchasers (the “Option Period”); provided that, if the Eligible Purchasers in the aggregate do not elect to purchase all of the Specified Securities, then no Eligible Purchaser shall
be entitled to purchase any Specified Securities and the Offering Member may transfer the Specified Securities at a price and on terms no more favorable to the transferee(s) thereof than specified in the Transfer 
  

 13 

 Notice during the 180-day period immediately following the expiration of the Option Period. Any Member Interests not
transferred within such 180-day period will be subject to the provisions of this Section 5(b) upon subsequent transfer. 
  
 (iii) If the Eligible Purchasers have in the aggregate elected to purchase more than the number of Specified Securities being offered by the Offering
Member, each Eligible Purchaser who has elected to purchase Eligible Securities shall be entitled to purchase from the Offering Member up to a number of Specified Securities (such number being such Eligible Purchaser’s “Pro Rata
Share”) representing a number of Points equal to the product of (i) the quotient determined by dividing (A) the percentage of Points represented by the Common Units owned by such Eligible Purchaser by (B) the aggregate percentage of
Points represented by the Common Units owned by the Eligible Purchasers participating in such purchase, multiplied by (ii) the aggregate number of Points represented by the Specified Securities. If and to the extent any such Eligible
Purchaser’s Pro Rata Share exceeds the number of Eligible Securities that such Eligible Purchaser specified that it wished to purchase in its Participation Notice (the “Desired Amount”), then the number of Specified Securities
in excess of such Desired Amount shall be reallocated among the other Eligible Purchasers that are participating in such sale in accordance with the formula set forth in the preceding sentence as if such Eligible Purchaser were not participating in
such sale and such reallocation shall continue until (i) all Eligible Securities have been allocated or (ii) each Eligible Purchaser that has elected to participate in such sale has been allocated its Desired Amount. 
  
 (c) Permitted Transfers. Subject to the succeeding three sentences of
this Section 5(c), the restrictions contained in this Section 5 shall not apply with respect to any Transfer of Units by any Member or Options by any Option Holder (i) in the case of an individual Member or Option Holder, pursuant to
applicable laws of descent and distribution or to such Member’s or Option Holder’s parent, spouse, descendants or a trust formed exclusively for the benefit of one or more of the foregoing, or (ii) in the case of any Member or Option
Holder that is an entity, any Transfer (including by way of distribution) to its members, partners or shareholders in respect of and in direct proportion to such member’s, partner’s or shareholder’s ownership of other interest in such
entity, or any Transfer to its Affiliates, employees, directors, advisors, consultants or employees, directors, advisors or consultants of its Affiliates. All transferees of Transfers permitted under this Section 5(c) are collectively
referred to herein as “Permitted Transferees” and such transferred Member Interests shall remain subject to the terms of this Agreement and any restrictions on Transfer set forth in the Operating Agreement. A Permitted Transferee of
Units or Options may Transfer such Units or Options pursuant to this Section 5(c) only to the transferor Member or Option Holder, as the case may be, or to a Person that is a Permitted Transferee of such transferor Member or Option Holder, as
the case may be. No Member or Option Holder shall avoid the provisions of this Agreement by making one or more Transfers to one or more Permitted Transferees and then disposing of all or any portion of such party’s interest in any such
Permitted Transferee, and any Transfer or attempted Transfer in violation of this covenant shall be null and void ab initio. 
  
 (d) Termination of Restrictions. The restrictions on transfer with respect to any Member Interest shall terminate at the time such Member Interest
is sold in a Public Sale, an Approved Sale or upon a Qualified Public Offering. 
  

 14 

 6. Sale of the Company. 
  
 (a) In the event of an Approved Sale, each Member and Option Holder shall (i) consent to the Approved Sale, (ii) waive and
agree not to pursue any dissenter’s rights and other similar rights, (iii) in the case of any Option Holder, take all such actions as may be necessary or desirable to exercise the Option in full (or to exercise the applicable portion thereof),
which exercise may be made by the Option Holder concurrently with and contingent upon the consummation of such Approved Sale, and (iv) if the Approved Sale is structured as a sale of securities, agree to sell its Member Interests (or applicable
portion thereof) on the terms and conditions of the Approved Sale; provided; that (i) each Member and Option Holder participating in such Approved Sale shall receive the same form of consideration and the same portion of the aggregate net
consideration (net of any post-closing adjustments and following the payment of the reasonable expenses that are approved by Approving Holders and are not otherwise paid by the Company or the acquiring party) as such holder would have received if
such aggregate net consideration had been distributed by the Company in complete liquidation pursuant to the rights and preferences set forth in the Operating Agreement as in effect immediately prior to the consummation of the Approved Sale
(assuming that the Member Interests included in the Transfer were all of the Equity Securities then outstanding); (ii) notwithstanding the preceding clause (i), the holders of Series A Preferred Units will be entitled to receive cash consideration
even if the consideration to be paid to the holders of Common Units and Options consists in part or in whole of non-cash consideration, so long as all holders of Common Units and Options receive the same form(s) of non-cash consideration and the
amount of the total net consideration described in the preceding clause (i); and (iii) that, if any non-cash consideration (other than Marketable Securities) is received by any Member or Option Holder in connection with an Approved Sale, (A) such
Member or Option Holder shall be given the right to participate pro rata in any subsequent Transfer by any ABRY Member of any such non-cash consideration on a basis equivalent to that provided in Section 5(a) and (B) ABRY shall use its
commercially reasonable efforts to ensure that all Other Members and Option Holders receive the benefit of any preemptive or other rights (including, without limitation, registration rights) that any ABRY Member is able to negotiate regarding the
subsequent Transfer of such non-cash consideration or future issuances of Equity Securities by the issuer of such non-cash consideration. Each Member and Option Holder will take all necessary and desirable lawful actions as reasonably directed by
the Board and the Approving Members in connection with the consummation of any Approved Sale, including without limitation executing the applicable purchase agreement pursuant to which each holder of Member Interests will severally (but not jointly)
make representations and warranties concerning solely (i) the beneficial ownership of the Member Interests (if any) to be sold by such holder, and (ii) such holder’s ability to execute such sale contract and necessary ancillary documents and
perform the obligations thereunder, and provide indemnities solely in respect of such representations and warranties made by such holder. 
  
 (b) If the Approving Holders enter into any negotiation or transaction for which Rule 506 promulgated by the Securities and Exchange Commission may be
available with respect to such negotiation or transaction (including a sale of assets, merger, consolidation or other reorganization), each holder of Member Interests who is not an “accredited investor,” as that term is defined in
Regulation D promulgated under the Securities Act, will, at the request of the Company, appoint either a purchaser representative (as such term is defined in Rule 501) 
  

 15 

 designated by the Company, in which event the Company will pay the fees of such purchaser representative, or another
purchaser representative (reasonably acceptable to the Company), in which event such holder will be responsible for the fees of the purchaser representative so appointed. 
  
 (c) Each holder of Member Interests agrees that, if the Approving Holders so request, the agreements relating to the
Approved Sale may provide for indemnity by each holder of Member Interests in respect of representations and warranties regarding the Company, its Subsidiaries and their respective assets, properties, liabilities, operations and businesses
(collectively, the “Company Reps”) not made by such holder of Member Interests, so long as the sole source for payment of any such indemnity (a “Company Loss”) will be funds (the amount of which for each holder
shall not exceed the aggregate net cash proceeds that otherwise would have been received by such holder in connection with such Approved Sale) deposited in escrow for such purpose or otherwise segregated and withheld from the proceeds otherwise
distributed to the selling persons, as Approving Holders may determine, and any Company Losses will be borne by the selling persons as described in the first sentence of Section 6(a) above as if they were post-closing adjustments. 

 
 (d) No consideration or fee shall be paid or provided to the Approving
Holders or any of their Affiliates or any Persons that would qualify as Permitted Transferees of the Approving Holders in any manner (including, without limitation, in connection with a non-compete agreement, consulting agreement or any other
agreement, arrangement or understanding) in connection with an Approved Sale, which would cause the Approving Holders or any their Affiliates or any Persons that would qualify as Permitted Transferees of the Approving Holders to receive
consideration or fees (of any kind, in any form and/or at any time) not available to all Members and Option Holders in a manner other than the manner in which such benefit would have been received by such Member or Option Holder had such benefit,
together with the net consideration of the Approved Sale and any like consideration or fees received by any other Member or Option Holder or Affiliate thereof, been distributed by the Company in complete liquidation pursuant to the rights and
preferences set forth in the Operating Agreement as in effect immediately prior to the consummation of the Approved Sale (assuming that the Member Interests included in the Transfer were all of the Equity Securities then outstanding). 
  
 (e) Each definitive agreement, whether written or oral, between the Approving
Holders or any of their Affiliates or any Persons that would qualify as Permitted Transferees of the Approving Holders, on the one hand, and the third party purchaser or any of its Affiliates, on the other hand, governing or relating to, or
otherwise in connection with an Approved Sale shall be disclosed in writing to the Board prior to any such party entering into such definitive agreement. 
  
 7. Public Offering. In the event that a Majority of the Board approves a recapitalization of, or a transaction which contemplates the
recapitalization of, the Company or its Subsidiaries, including a public offering and sale of Equity Securities pursuant to an effective registration statement under the Securities Act (a “Public Offering”), including pursuant to
the Registration Rights Agreement, then the Company and all holders of Member Interests shall take all necessary or desirable actions in connection with the consummation of such recapitalization 
  

 16 

 as a Majority of the Board may reasonably request (i) to convert the Company to a corporate form or otherwise combine its
Subsidiaries with, and/or cause them to be owned (directly or indirectly) by, a single corporation, in each case, in a tax-free transaction (except to the extent of taxable income or gain required to be recognized by a Person in an amount that does
not exceed the amount of cash received by such Person upon the consummation of such recapitalization and/or any concurrent transaction), including, without limitation, the approval of a merger of the Company and/or one or more of its Subsidiaries
with and into a newly formed “shell” corporation or one of the Subsidiaries, with the result that each Person shall hold capital stock of such surviving corporation (the “Successor Corporation”) with rights, preferences
and privileges that are equivalent to the Member Interests held by such Person (provided that concurrently with and contingent upon the consummation of such conversion, merger or other form of recapitalization, business combination or merger,
(A) each Option Holder shall take all such actions as may be necessary or desirable to exercise the Option, and (B) at the request of any holder of Class A-2 Common Units and Class E-2 Common Units, such holder’s Class A-2 Common Units and/or
Class E-2 Common Units, as the case may be, will instead be converted into common stock having the same rights and preferences (i.e., containing voting rights) as Class A-1 Common Units and Class E-1 Common Units, respectively), and (ii) to cause
the Successor Corporation to assume all of the obligations of the Company under the Transaction Documents. Notwithstanding the foregoing, it is the intent of the parties hereto that any such Public Offering will result in the parties hereto
obtaining common stock of the company whose Equity Securities are so offered in exchange for, and in proportion to, their interests in the Company that are Common Units immediately prior to such recapitalization (calculated as if all outstanding
Options had been fully exercised as of such time), as if such common stock (valued at the price at which shares of common stock are sold to the public in such offering) were distributed in liquidation of the Company pursuant to the Operating
Agreement. 
  
 8. Preemptive Rights. 
  
 (a) Subject to Section 8(b) below, if the Company proposes to issue
any Common Units, any Option or any Convertible Security, the Company will offer to sell to each Member and Option Holder a number of such securities (“Offered Units”) equal to the product of (i) the quotient determined by dividing
(A) the percentage of Points (on a fully-diluted basis) represented by the Member Interests owned by such Member or Option Holder by (B) the aggregate percentage of all Points outstanding immediately prior to the proposed issuance (on a
fully-diluted basis), and (ii) the Offered Units; provided that for the purpose of calculating Offered Units with respect to any Management Member, the “Member Interests owned by such Member” shall mean such Member’s Class B
Common Units and all Vested Incentive Units held by such Member at the time of such calculation; and provided, further, that, if the Company offers any Offered Units at any time during the six months following the date of this
Agreement, the first $4.5 million in purchase or subscription price of such Offered Units will be offered exclusively to the Oak Hill Purchasers (to be allocated among them as OHCP may designate), and will be offered to other Members and Option
Holders only to the extent that the Oak Hill Purchasers do not elect to purchase or subscribe for them. The Company shall give each Member and Option Holder at least thirty (30) days prior written notice of any proposed issuance, which notice shall
disclose in reasonable detail the proposed terms and conditions of such issuance (the “Issuance Notice”). Each Member and Option Holder will be entitled to purchase such securities at the same price and on the same terms (including,
if more than one 
  

 17 

 type of security is issued, the same proportionate mix of such securities) as the securities are issued by delivery of
irrevocable written notice (the “Election Notice”) to the Company of such election within thirty (30) days after delivery of the Issuance Notice (the “Preemptive Period”). If any Member or Option Holder has elected
to purchase any Offered Units, the sale of such units shall be consummated as soon as practical (but in any event within twenty (20) days) after the delivery of the Election Notice. To the extent the Members and Option Holders do not elect to, or
are not entitled to, purchase all of the Offered Units, then the Company may issue the remaining Offered Units at a price and on terms no more favorable to the transferee(s) thereof specified in the Issuance Notice during the 120-day period
following the Preemptive Period. Notwithstanding anything in this Section 8 to the contrary, the Company shall not be deemed to have breached this Section 8 if, within 30 days following the issuance of any Units, Option or Convertible
Securities in contravention of this Section 8, the Company or the Transferee of such Units, Options or Convertible Securities offers to sell a portion of such Units, Options or Convertible Securities or additional Units, Options or
Convertible Securities to each Member and Option Holder so that, taking into account such previously-issued securities and any such additional securities, each Member and Option Holder will have had the right to purchase or subscribe for securities
in a manner consistent with the allocation provided in the initial sentence of this Section 8(a). 
  
 (b) The rights contained in this Section 8 shall not apply to (i) the issuance of Common Units (including any Option or Convertible Security) as a
dividend or upon any subdivision or Unit split of outstanding Common Units; (ii) the issuance of Equity Securities upon conversion of any Convertible Securities or the exercise of any Option; (iii) the issuance of Common Units pursuant to Options,
or the grant of Options to subscribe for Common Units, to officers, directors and other employees or independent contractors of the Company, approved by, or pursuant to arrangements approved by, a Majority of the Board, (iv) the issuance of Common
Units pursuant to any underwritten public offering, (vi) the issuance of any Common Unit (including any Option or Convertible Security) as consideration for the acquisition of any Person or business or unit or division thereof or any other asset or
other property to be used in the operations of the Company or any of its Subsidiaries or (vii) the issuance of any Class B Common Unit pursuant to Section 5 of the Investor Securities Purchase Agreement. 
  
 9. Certain Future Issuances. The Company and each Member and Option
Holder hereby agree that, notwithstanding anything in this Agreement or any other Transaction Document to the contrary, any issuances of Units made to fund acquisitions by the Company on or prior to the second anniversary of the date hereof and/or
related expenses shall be (i) in the form of Class A Common Units and Class B Common Units (with such Class B Common Units being issued to any Management Member that participates in such issuance and to any other employee of the Company or any of
its Subsidiaries that the Board may designate to purchase Class B Common Units, and Class A Common Units being issued to all other subscribing Persons) and (ii) in each case, at a price of $1.00 per Unit, and each Member and Option Holder hereby
waives any objection to the issuance of any such Common Unit (including to ABRY or any Affiliate thereof, so long as the Company complies with Section 8 hereof) at such price. 
  
 10. Legend. Each certificate or instrument evidencing Member Interests and each certificate or instrument, if any,
issued in exchange for or upon the Transfer of any Member 
  

 18 

 Interests (if such units remain) shall be stamped or otherwise imprinted with a legend in substantially the following
form: 
  
 “THE SECURITIES REPRESENTED BY THIS CERTIFICATE

 WERE ORIGINALLY ISSUED ON             ,
            , 
 AND HAVE NOT BEEN REGISTERED UNDER THE 
 SECURITIES ACT OF 1933, AS AMENDED. THE TRANSFER 
 OF THE SECURITIES REPRESENTED BY THIS 
 CERTIFICATE IS SUBJECT TO A MEMBERS AGREEMENT 
 DATED AS OF MARCH 1, 2004, BY AND AMONG THE 
 ISSUER OF SUCH SECURITIES (THE “COMPANY”) AND 
 CERTAIN OF THE COMPANY’S MEMBERS, AS IN EFFECT 
 FROM TIME TO TIME. A COPY OF SUCH MEMBERS 
 AGREEMENT WILL BE FURNISHED WITHOUT CHARGE 
 BY THE COMPANY TO THE HOLDER HEREOF UPON 
 WRITTEN REQUEST.” 
  
 The legend set forth above shall be removed from the certificates and instruments evidencing any units which cease to be subject to this Agreement. 
  
 11. Transfers in Violation of Agreement. Any Transfer or attempted
Transfer of any Member Interests in violation of any provision of this Agreement or of the Operating Agreement shall be null and void, and the Company shall not record such Transfer on its books or treat any purported transferee of such Member
Interests as the owner of such units for any purpose. 
  
 12.
Transfer of Member Interests. 
  
 (a) In connection with
the Transfer of any Member Interests other than a Transfer pursuant to a Public Sale, the holder thereof shall deliver written notice to the Company describing in reasonable detail the Transfer or proposed Transfer, together with an opinion of
counsel reasonably acceptable to the Company (which such opinion requirement may be waived by the Company in its sole discretion) to the effect that such Transfer of Member Interests may be effected without registration of such Member Interests
under the Securities Act. Notwithstanding anything in this Agreement or any other Transaction Document to the contrary, no Member or Option Holder shall Transfer any Option or Common Unit if, as a result of and after giving effect to such Transfer,
an obligation would arise under the Exchange Act to register any Common Units. 
  
 (b) No Transfer or issuance of any Member Interests (other than pursuant to a Public Sale) shall be permitted unless and until the prospective transferee agrees to become a party to this Agreement and be bound by all
the terms and conditions hereof to the same extent as the transferring party by executing and delivering to the Company a joinder to this Agreement in substantially the form attached hereto as Exhibit A or Exhibit B, as applicable.

  

 19 

 13. Information Rights. So long as any Non-Management Member continues to hold any Member Interest, the
Company shall deliver, or cause to be delivered to such Non-Management Member: 
  
 (a) as soon as available, but in any event within 90 days after the end of each fiscal year of the Company (other than in the case of the fiscal year ended December 31, 2003, which shall be as soon as available, but
in any event within 90 days after the date hereof), 
  
 (i) a copy of the consolidated and consolidating balance sheet of Holdings and its Subsidiaries and each of Holdings’ reportable segments (other than in the case of the fiscal year ended December 31, 2003, which shall be for the
System, as that term is defined in the Asset Purchase Agreement), in each case as at the end of such fiscal year and the related consolidated and consolidating statements of operations, members’ equity and cash flows for such fiscal year;

  
 (ii) in the case of each fiscal year ending
after December 31, 2003, a copy of the consolidated balance sheet of the Company and its Subsidiaries, as at the end of such fiscal year and the related consolidated statements of operations, members’ equity and cash flows for such fiscal year,

  
 in the case of each of clause (i) and (ii) above, setting forth in comparative
form the figures (if any) for the previous year and accompanied by a report thereon, without qualification arising out of the scope of the audit of independent certified public accountants of nationally recognized standing; 
  
 (b) as soon as available, but in any event not later than 60 days after the
end of the final fiscal quarter of each fiscal year of the Company, the unaudited consolidated and consolidating balance sheet of Holdings and its Subsidiaries, in each case, as and at the end of such fiscal quarter, and the related unaudited
consolidated and consolidating statements of operations and cash flows for such quarterly period; and 
  
 (c) as soon as available, but in any event not later than 45 days (60 days for the periods ended March 31, 2004 and June 30, 2004) after the end of each
of the first three fiscal quarters of each fiscal year of the Company (other than any quarterly period ending prior to the date hereof), the unaudited consolidated and consolidating balance sheet of Holdings and its Subsidiaries and each of
Holdings’ reportable segments, in each case, as at the end of each such quarter and the related unaudited consolidated and consolidating statements of operations and cash flows for such quarterly period and the portion of the fiscal year of
Holdings through such date; 
  
 all such financial statements described in
subsections (a) and (b) above to be complete and correct in all material respects (subject, in the case of interim statements, to normal year-end audit adjustments with the absence of footnotes) and to be prepared in reasonable detail and in
accordance with GAAP. 
  
 14. Other Covenants. 

. 
  
  

 20 

 (a) For so long as any Non-Management Member holds any Common Units, the Company will, and will cause
each Subsidiary to, preserve, renew and keep in full force and effect its limited liability company or corporate existence and take all reasonable action to maintain all material rights, material privileges, franchises, copyrights, patents,
trademarks and trade names necessary or desirable in the normal conduct of its business except for rights, privileges, franchises, copyrights, patents, trademarks and trade names the loss of which could not, in the aggregate, reasonably be expected
to have a Material Adverse Effect; and comply with all applicable Requirements of Law except to the extent that the failure to comply therewith could not, in the aggregate, reasonably be expected to have a Material Adverse Effect. This Section
14(a) shall not be deemed to restrict the Company or any of its Subsidiaries from abandoning or failing to pursue or enforce any Intellectual Property or registrations or applications therefor, which actions or inactions are taken in the
Company's or its Subsidiary's commercially reasonable discretion and would not, in the aggregate, have a Material Adverse Effect. 
  
 (b) For so long as any Non-Management Member holds any Common Units, the Company will, and will cause each of its Subsidiaries to, maintain and keep, or
cause to be maintained and kept, their respective properties in good repair, working order and condition (other than ordinary wear and tear), so that the business carried on in connection therewith may be properly conducted at all times,
provided that this Section 14(b) shall not prevent the Company or any Subsidiary from discontinuing the operation and the maintenance of any of its properties if such discontinuance is desirable in the conduct of its business and such
discontinuance would not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect. 
  
 (c) For so long as any Non-Management Member holds any Common Units, the Company will, and will cause each of its Subsidiaries to, maintain, with
financially sound and reputable insurers, insurance with respect to their respective properties and businesses against such casualties and contingencies, of such types, on such terms and in such amounts as is customary in the case of entities of
established reputations that are engaged in the same or a similar business and are otherwise similarly situated. 
  
 (d) For so long as any Member holds any Common Units, the Company will, and will cause each of its Subsidiaries to, comply with all laws, ordinances or
governmental rules or regulations to which each of them is subject and will obtain and maintain in effect all licenses, certificates, permits, franchises and other governmental authorizations necessary to the ownership of their respective properties
or to the conduct of their respective businesses, in each case to the extent necessary to ensure that non-compliance with such laws, ordinances or governmental rules or regulations or failures to obtain or maintain in effect such licenses,
certificates, permits, franchises and other governmental authorizations would not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect. 
  
 (e) The Company will, upon the request of any Non-Management Member, provide such Member and any qualified institutional
buyer designated by such Member such financial and other information as such Member may reasonably determine to be necessary in order to permit compliance with the information requirements of Rule 144A under the Securities 
  
  

 21 

 Act in connection with the resale of a Membership Interest, except at such times as the Company is subject to the
reporting requirements of Section 13 or 15(d) of the Exchange Act. For the purpose of this Section 3(g), the term “qualified institutional buyer” shall have the meaning specified in Rule 144A under the Securities Act.

  
 (f) For so long as any Non-Management Member holds any Common
Units, the Company will, and will cause each Subsidiary to, keep proper books of record and account in which full, true and correct entries are made of all dealings and transactions in relation to its business and activities which permit financial
statements to be prepared in conformity with GAAP and all applicable laws; and permit representatives of any Non-Management Member holding Common Units representing 10% of the Company’s Common Units on a fully diluted basis upon reasonable
notice (no more frequently than annually) to visit and inspect any of its properties or assets and examine and make abstracts from any of its books and records (including without limitation insurance policies) at any reasonable time and upon
reasonable notice, and to discuss the business, operations, assets and financial and other condition of the Company and its Subsidiaries with officers and employees thereof and with their independent certified public accountants with prior
reasonable notice to, and coordination with, the Company, in each case at such Member’s expense. 
  
 (g) Affiliate Transactions. 
  
 (i) For so long as any Non-Management Member holds any Common Unit, the Company shall not, and shall not cause or permit any Subsidiary to, directly or
indirectly, conduct any business or enter into, renew, amend or conduct any transaction or series of related transactions (including the purchase, sale, lease or exchange of any assets or the rendering of any service) with or for the benefit of any
of their respective Affiliates (each an “Affiliate Transaction”), unless notice in advance thereof is given to the Oak Hill Director and: 
  
 (A) such Affiliate Transaction taken as a whole, is a bona fide transaction on terms which are no less favorable to the Company or such
Subsidiary, as the case may be, than would be available in a comparable transaction on an arm’s-length basis with an unaffiliated third party; 
  
 (B) if such Affiliate Transaction or series of related Affiliate Transactions involves aggregate payments or other consideration having a
Fair Market Value in excess of $5,000,000, such Affiliate Transaction is in writing and a majority of the disinterested members of the Board shall have approved such Affiliate Transaction and determined that such Affiliate Transaction complies with
the clause (i)(A) above, or each Non-Management Member shall have received a written opinion from an Independent Financial Advisor stating that the terms of such Affiliate Transaction are fair, from a financial point of view, to the Company or the
Subsidiary involved in such Affiliate Transaction, as the case may be; and 
  
 (C) if such Affiliate Transaction or series of related Affiliate Transactions involves aggregate payments or other consideration having a Fair Market Value in excess of $15,000,000, such Affiliate Transaction is in
writing and each Non-Management Member shall have received a written opinion from an Independent Financial Advisor stating 
  

 22 

 that the terms of such Affiliate Transaction are fair, from a financial point of view, to the Company or
the Subsidiary involved in such Affiliate Transaction, as the case may be. 
  
 (ii) Notwithstanding the foregoing, the restrictions set forth in Section 14(g)(i) above shall not apply to any of the following of which notice in advance is given to the Oak Hill Director (provided
that the requirements set forth in clause (i)(A) above shall apply to any transaction described in clause (ii)(E) below): 
  
 (A) transactions with or among the Company and any wholly-owned Subsidiary or between or among wholly-owned Subsidiaries; 
  
 (B) any issuance of Equity Securities of the Company, or
other payments, awards or grants in cash, in each case pursuant to employment arrangements or stock option plans for the benefit of employees, officers, directors, and consultants who are not otherwise Affiliates of the Company and, in each case,
made in the ordinary course of business; 
  
 (C)
advances to officers, directors, employees and consultants who are not otherwise Affiliates of the Company made, in each case, in the ordinary course of business and in an aggregate outstanding amount not to exceed $1,000,000 in any calendar year;

  
 (D) the payment of reasonable directors’
fees, indemnification and similar arrangements, expense reimbursements, consulting fees (to Persons who are not otherwise Affiliates of the Company or any of its Subsidiaries), employee salaries, bonuses or employment agreements, compensation or
employee benefit arrangements and incentive arrangements with any officer, director or employee of the Company or any Subsidiary, in each case, entered into in the ordinary course of business (including reasonable benefits thereunder); 

 
 (E) issuances and sales of Equity Securities of the
Company to which the rights described in Section 8(a) are applicable or that are described in clauses (i), (ii) or (iii) or Section 8(b); and 
  
 (F) any transactions undertaken pursuant to any contractual obligations in existence on the date hereof and which are described on
Schedule 1 attached hereto, as the same may be amended, modified or replaced from time to time so long as such amendment, modification or replacement is no less favorable to the Company and its Subsidiaries in any material respect.

  
 15. Confidentiality. Each Member and Option Holder
agrees (as to itself) that it will, and will cause each Board Observer that it designates to, maintain the confidentiality of all Confidential Information in accordance with procedures adopted by such Member or Option Holder in good faith to protect
confidential information of third parties delivered to it and will not use (and will cause each Board Observer that it designates not to use) any Confidential Information other than for a purpose reasonably related to such Member’s or Option
Holder’s investment in the Company; provided that each Member or Option Holder and each Board Observer that it designates may deliver or disclose Confidential Information to (i) such Member’s or Option Holder’s directors,
officers, employees, agents, attorneys, affiliates and financial and professional advisors (in each case, to the extent such disclosure reasonably relates to the administration of the investment represented by the Member Interests held by such
Member or 
  

 23 

 Option Holder) who agree to hold confidential and refrain from using the Confidential Information substantially in
accordance with the terms of this Section 15, (ii) any other holder of any Membership Interest that is bound by this Section 15 to the same extent as such Member or Option Holder, (iii) any Person to which such Member or Option Holder
may sell or offer to sell any Membership Interest or any part thereof or any participation therein (if such Person has agreed in writing prior to its receipt of such Confidential Information to be bound by the provisions of this Section 15 to
the same extent as such Member or Option Holder), (iv) any Person from which such Member or Option Holder may offer to purchase any security of the Company (if such Person has agreed in writing prior to its receipt of such Confidential Information
to be bound by the provisions of this Section 15 to the same extent as such Member or Option Holder), (v) any federal or state regulatory authority having jurisdiction over the Member or Option Holder, (vi) the National Association of
Insurance Commissioners or any similar organization, or any nationally recognized rating agency that requires access to information about such Member’s or Option Holder’s investment portfolio or (vii) any other Person to which such
delivery or disclosure may be necessary or appropriate (w) to effect compliance with any applicable law, rule, regulation or order, (x) in response to any subpoena or other legal process, (y) in connection with any litigation or (z) in the case of
any holder of a Series A Preferred Unit, if an Event of Default (as defined in the Preferred Securities Purchase Agreement) has occurred and is continuing, to the extent it may reasonably determine such delivery and disclosure to be necessary or
appropriate in the enforcement or for the protection of the rights and remedies under this Agreement and the Preferred Securities Purchase Agreement. 
  
 16. Optional Repurchase Following Purchase Price Adjustment. If there is a post-closing adjustment that reduces the cash purchase price to be paid
by Atlantic Broadband Finance, LLC under the Asset Purchase Agreement then, at any time and from time to time up to and including the first anniversary of the date on which Atlantic Broadband Finance, LLC receives the proceeds payable to it under
the Asset Purchase Agreement as a result of such reduction, at the sole discretion of the Board, the Company shall have the option to make an offer to each holder of Class A Common Units, Class B Common Units or any Option to redeem (or, in the case
of any Option, to repurchase, either in whole or in part) the Class A Common Units, Class B Common Units and Options held by such Unitholders and Option Holders, respectively, in an aggregate amount up to the amount of the Cash Equity Contribution
Adjustment, pro rata among such Unitholders and Option Holders based upon the number of Class A Common Units and/or Class B Common Units on a fully diluted basis held by such Unitholders and Option Holders, at the Redemption Price therefor.
In the event that the Company elects to redeem any Class A Common Units and Class B Common Units or to repurchase all or any portion of any Option pursuant to the first sentence of this Section 16, the Company shall send a notice (a
“Redemption Notice”) to such effect no less than 10 days prior to the redemption date to each holder of Class A Common Units and/or Class B Common Units and each Option Holder, which notice shall set forth the date fixed for
redemption and the number of Class A Common Units and/or Class B Common Units to be redeemed from such Unitholder or the portion of any Option to be repurchased, as the case may be. Any such holder may decline the offer in whole or in part by giving
the Company written notice to such effect within five days following receipt of the applicable Redemption Notice; provided that a failure of any holder to accept an offer to redeem made pursuant to this Section 16 shall be deemed to
constitute a rejection of such offer as to all Class A Common Units, Class B Common Units or Options held by such holder to the extent such offer is not accepted. If and to the extent that any holder of 
  

 24 

 Class A Common Units or Class B Common Units or any Option Holder declines to have redeemed or repurchased the full
amount of Units or the full portion of any Option, as the case may be, that the Company has offered to redeem or repurchase pursuant to the first sentence of this Section 16, the Company shall have the right, at its sole discretion, to use
any remaining portion of the Cash Equity Contribution Adjustment to redeem (or, in the case of any Option, to repurchase), on a similar basis, Class A Common Units, Class B Common Units and portions of Options held by the Unitholders and Option
Holders who elected to have redeemed the full amount of their Options and Units that the Company specified in the Redemption Notice. For purposes of this Section 16, the “Redemption Price” means (i) with respect to any Class
A Common Unit or Class B Common Unit to be redeemed, an amount equal to the sum of (A) the Common Capital Value for such Unit plus (B) the Unpaid Yield on such Unit through the date on which such Unit is to be redeemed and (ii) with respect
to any portion of any Option to be repurchased, an amount equal to the sum of the Common Capital Value of the number of the Class A Common Units issuable upon exercise of such portion of the Option (the “Canceled Units”) plus
the Unpaid Yield on the Canceled Units less the aggregate Exercise Price (as defined in the Option Agreement) that would have been payable to acquire the Canceled Units on the date of the applicable redemption had the Option Holder exercised
such portion of the Option on such date; provided that for purposes of calculating such Unpaid Yield, the applicable Option Holder shall be deemed to have exercised such portion of the Option and become a Member and the holder of record of
the Units issuable upon exercise of such portion of the Option as of the date issuance of such Option. Upon payment to any Option Holder of the Redemption Price with respect to any portion of any Option repurchased pursuant to this Section 16, the
number of Units for which such Option is exercisable shall be reduced by the number of Cancelled Units applicable to such Option. 
  
 17. Amendment and Waiver. 
  
 (a) Subject to Sections 17(b) through Section 17(g) below, no modification, amendment or waiver of any provision of this Agreement (whether
by merger, consolidation or otherwise) shall be effective against the Company, the Members and the Option Holders unless such modification, amendment or waiver is approved in writing by, respectively, the Company and the holders of a majority of the
Common Units on a fully diluted as if converted basis; provided that: (i) no such modification, amendment or waiver will adversely affect the rights hereunder of any of the parties hereto when compared with its effect on the other similarly
situated parties hereto without the prior written approval of a majority-in-interest of such adversely-affected parties, (ii) no such modification, amendment or waiver will adversely affect the rights hereunder of any holder of Series A Preferred
Units without the prior written approval of the holders of a majority of the Series A Preferred Units (provided that such approving holders must include at least one Continuing Series A Preferred Holder if at the time such action is approved there
is any Continuing Series A Preferred Holder), and (iii) no such modification, amendment or waiver will adversely affect the rights hereunder of any holder of Class E Common Units without the prior written approval of the holders of a majority of the
Class E Common Units (provided that such approving holders must include at least one Continuing Class E Common Holder if at the time such action is approved there is any Continuing Class E Common Holder). A joinder to this Agreement by any other
Person as a “Member” or an “Option Holder” hereunder shall not be deemed to adversely affect the rights of any other Member or Option Holder hereunder or to be a modification, amendment or waiver of this 
  

 25 

 Agreement for purposes of this Section 17. The failure of any party to enforce any of the provisions of this
Agreement shall in no way be construed as a waiver of such provisions and shall not affect the right of such party thereafter to enforce each and every provision of this Agreement in accordance with its terms. 
  
 (b) Notwithstanding anything in Section 17(a) above to the contrary,
this Agreement may not be modified, amended or waived (whether by merger, consolidation or otherwise) without the prior written approval of either of, or, if applicable, both of (x) at least one Continuing Class A-2 Common Holder if at such time
there is any Continuing Class A-2 Common Holder, and (y) OHCP (or any of its Affiliates), if at the time such action is approved OHCP (or any of its Affiliates) is then a Continuing Class A-1 Common Holder, if the effect of such modification,
amendment or waiver would (i) adversely affect the rights of the Members other than the ABRY Members pursuant to Section 5, (ii) adversely affect the rights of the Members (other than the ABRY Members) pursuant to Section 6, (iii)
adversely affect the rights of the Members pursuant to Section 7, Section 8, Section 9 Section 13 or Section 16, or (iv) result in an amendment, modification or waiver of Section 14 or this Section 17(b).

  
 (c) Notwithstanding anything in Section 17(a) above to
the contrary, neither Section 3 of this Agreement nor this Section 17(c) may be modified, amended or waived (whether by merger, consolidation or otherwise) without the prior written approval of holders of a majority of the Class E
Common Units then outstanding (or, if no Class E Common Units are then outstanding, then holders of a majority of the Class A Common Units acquired on the date hereof by the Qualified Members), provided that such approving holders must
include at least one Continuing Series A Preferred Holder, Continuing Class A-2 Common Holder or Continuing Class E Common Holder if at such time there is any Continuing Series A Preferred Holder, Continuing Class A-2 Common Holder or Continuing
Class E Common Holder. 
  
 (d) Notwithstanding anything in
Section 17(a) above to the contrary, no modification, amendment or waiver (whether by merger, consolidation or otherwise) of: (i) any requirement in this Agreement that any action be approved or joined in by a Continuing Class A-2 Common
Holder or the definition of the term “Continuing Class A-2 Common Holder” will be effective as against Northwestern or any of its Affiliates unless either such action is approved in writing by Northwestern or at the time such action is
approved none of Northwestern or any of its Affiliates is a Continuing Class A-2 Common Holder, (ii) any requirement in this Agreement that any action be approved or joined in by a Continuing Class E Common Holder or the definition of the term
“Continuing Class E Common Holder” will be effective as against Northwestern or any of its Affiliates unless either such action is approved in writing by Northwestern or at the time such action is approved none of Northwestern or any of
its Affiliates is a Continuing Class E Common Holder, (iii) any requirement in this Agreement that any action be approved or joined in by a Continuing Series A Preferred Holder or the definition of the term “Continuing Series A Preferred
Holder” will be effective as against Northwestern or any of its Affiliates unless either such action is approved in writing by Northwestern or at the time such action is approved none of Northwestern or any of its Affiliates is a Continuing
Series A Preferred Holder, (iv) this Section 17(d) will be effective as against Northwestern or any of its Affiliates unless either such action is approved by Northwestern or at the time such action is approved none of Northwestern or any of
its Affiliates is a Continuing Class A Common Holder, a Continuing Class E Common Holder or a Continuing Series A Preferred Holder or (v) Section  
  

 26 

 16, if such action would require Northwestern or any of its Affiliates to have its Units redeemed mandatorily,
will be effective against Northwestern or any of its Affiliates unless either such action is approved by Northwestern or at the time such action is approved none of Northwestern or any of its Affiliates is a Continuing Class A Common Holder.

  
 (e) Notwithstanding anything in Section 17(a) above to
the contrary, no modification, amendment or waiver (whether by merger, consolidation or otherwise) of: (i) any requirement in this Agreement that any action be approved or joined in by a Continuing Class A-2 Common Holder or the definition of the
term “Continuing Class A-2 Common Holder” will be effective as against New York Life or any of its Affiliates unless either such action is approved in writing by New York Life or at the time such action is approved none of New York Life or
any of its Affiliates is a Continuing Class A-2 Common Holder, (ii) any requirement in this Agreement that any action be approved or joined in by a Continuing Class E Common Holder or the definition of the term “Continuing Class E Common
Holder” will be effective as against New York Life or any of its Affiliates unless either such action is approved in writing by Northwestern or at the time such action is approved none of New York Life or any of its Affiliates is a Continuing
Class E Common Holder, (iii) any requirement in this Agreement that any action be approved or joined in by a Continuing Series A Preferred Holder or the definition of the term “Continuing Series A Preferred Holder” will be effective as
against New York Life or any of its Affiliates unless either such action is approved in writing by New York Life or at the time of such action none of New York Life or any of its Affiliates is a Continuing Series A Preferred Holder, (iv) this
Section 17(e) will be effective as against New York Life or any of its Affiliates unless either such action is approved by New York Life or at the time such action is approved none of New York Life or any of its Affiliates is a Continuing
Class A Common Holder, a Continuing Class E Common Holder nor a Continuing Series A Preferred Holder or (v) Section 16, if such action would require New York Life or any of its Affiliates to have its Units redeemed mandatorily, will be
effective against New York Life or any of its Affiliates unless either such action is approved by New York Life or at the time such action is approved none of New York Life or any of its Affiliates is a Continuing Class A Common Holder. 

 
 (f) Notwithstanding anything in Section 17(a) above to the
contrary, no modification, amendment or waiver (whether by merger, consolidation or otherwise) of (i) Section 2 or the second proviso to the first sentence of Section 8(a), if such action is adverse to OHCP or any of its Affiliates,
(ii) Section 16, if such action would require any Oak Hill Purchaser (or any of its Affiliates) to have its Units redeemed mandatorily, (iii) any requirement in this Agreement that any action be approved or joined in by a Continuing Class A-1
Common Holder or by OHCP at any time when OHCP is a Continuing Class A-1 Common Holder, (iv) the definition of the term “Continuing Class A-1 Common Holder,” or (v) this Section 17(f), will be effective as against any Oak Hill
Purchaser or any Affiliate thereof unless either such action is approved in writing by OHCP or at the time such action is approved none of OHCP or any of its Affiliates is a Continuing Class A-1 Common Holder. 
  
 (g) Notwithstanding anything in this Section 17 to the contrary, a
modification, amendment or waiver made to reflect (A) the terms and conditions of any new class or series of Equity Securities (with respect to such Equity Securities) and any restrictions, rights, preferences and privileges associated therewith or
(B) the restrictions on or rights of any Person who purchases Equity Securities of the Company after the date hereof (with respect to such Equity 
  

 27 

 Securities) shall, in each case, require only the approval of the Company and a Majority of the Members and not the
approval of any Member or Option Holder; provided that no such modification, amendment or waiver will adversely affect the rights hereunder of any of the parties hereto when compared with its effect on the other similarly situated parties hereto
without the prior written approval of a majority-in-interest of such adversely-affected parties. 
  
 18. Severability. Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under
applicable law, but if any provision of this Agreement is held to be prohibited by or invalid under applicable law, such provision shall be ineffective only to the extent of such prohibition or invalidity, without invalidating the remainder of this
Agreement. 
  
 19. Entire Agreement. This document and the
other Transaction Documents embody the complete agreement and understanding among the parties hereto with respect to the subject matter hereof and supersede and preempt any prior understandings, agreements or representations by or among the parties,
written or oral, which may have related to the subject matter hereof in any way. 
  
 20. Termination. This Agreement will automatically terminate and be of no further force or effect immediately after the earlier of the consummation of (i) an Approved Sale or (ii) a Qualified Public Offering.

  
 21. Successors and Assigns. Except as otherwise
provided herein, this Agreement shall bind and inure to the benefit of and be enforceable by the Company and its successors and assigns and the Members and the Option Holders and any subsequent holders of their respective Member Interests and the
respective successors and assigns of each of them, so long as they hold Member Interests; provided that none of (a) the rights of Northwestern (or any of its Affiliates), in its capacity as a Continuing Class A-2 Common Holder, Continuing
Class E Common Holder and/or Continuing Series A Preferred Holder, pursuant to Section 3 or Section 17 may be assigned (other than to an Affiliate of Northwestern), (b) the rights of New York Life (or any of its Affiliates), in its
capacity as a Continuing Class A-2 Common Holder, Continuing Class E Common Holder and/or Continuing Series A Preferred Holder, pursuant to Section 3 or Section 17 may be assigned (other than to an Affiliate of New York Life), (c) the
rights of OHCP or any Oak Hill Purchaser (or any of their respective Affiliates), in its capacity as a Continuing Class A-1 Common Holder, pursuant to Section 17, or pursuant to the second proviso to the first sentence of Section 8(a),
may be assigned (other than to an Affiliate of OHCP or such Oak Hill Purchaser) or (d) the rights of Merrill (or any of its Affiliates) pursuant to the penultimate proviso of Section 5(a) may be assigned (other than to an Affiliate of
Merrill), in each case, without both the prior written consent of the Company and the approval of the Board. 
  
 22. Counterparts. This Agreement may be executed in separate counterparts each of which shall be an original and all of which taken together shall
constitute one and the same agreement. 
  
 23. Remedies.
The parties hereto shall be entitled to enforce their rights under this Agreement specifically to recover damages by reason of any breach of any provision of this Agreement and to exercise all other rights existing in their favor. The parties hereto
agree and 
  

 28 

 acknowledge that money damages may not be an adequate remedy for any breach of the provisions of this Agreement and that
the Company and any Member or Option Holder may in his, hers, or its sole discretion apply to any court of law or equity of competent jurisdiction for specific performance and/or injunctive relief (without posting a bond or other security) in order
to enforce or prevent any violation of the provisions of this Agreement. 
  
 24. WAIVER OF JURY TRIAL. EACH PARTY TO THIS AGREEMENT HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION, OR CAUSE OF ACTION (I) ARISING UNDER THIS
AGREEMENT OR (II) IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO IN RESPECT OF THIS AGREEMENT OR ANY OF THE TRANSACTIONS RELATED HERETO, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER IN
CONTRACT, TORT, EQUITY, OR OTHERWISE. EACH PARTY TO THIS AGREEMENT HEREBY AGREES AND CONSENTS THAT ANY SUCH CLAIM, DEMAND, ACTION, OR CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT A JURY AND THAT THE PARTIES TO THIS AGREEMENT MAY FILE AN
ORIGINAL COUNTERPART OR A COPY OF THIS AGREEMENT WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF THE PARTIES HERETO TO THE WAIVER OF THEIR RIGHT TO TRIAL BY JURY. 
  
 25. Notices. All notices, demands or other communications to be given or delivered under or by reason of the
provisions of this Agreement shall be in writing and shall be deemed to have been given (a) on the date of personal delivery to the recipient or an officer of the recipient, or (b) when sent by telecopy or facsimile machine to the number shown below
on the date of such confirmed facsimile or telecopy transmission (provided that a confirming copy is sent via overnight mail), or (c) when properly deposited for delivery by a nationally recognized commercial overnight delivery service, prepaid, or
three business days after deposit in the United States mail, certified or registered mail, postage prepaid, return receipt requested. Such notices, demands and other communications shall be sent to each Member and Option Holder at the address set
forth for such Member and Option Holder on Schedule II attached hereto and to the Company at the address set forth below: 
  

					
	 	 	Atlantic Broadband Group, LLC	 	 
	 	 	 c/o ABRY Partners IV, L.P.
	 	 
	 	 	 111 Huntington Avenue
	 	 
	 	 	 30th Floor
	 	 
	 	 	 Boston, MA 02199
	 	 
	 	 	 Facsimile:    617-859-8797
	 	 
	 	 	 Attention:    Jay Grossman
	 	 

  

 29 

					
	 	 	with a copy (which will not constitute notice to the Company), to:
		
	 	 	 Kirkland & Ellis LLP
 Citigroup
Center
 153 East 53rd Street
 New York, NY 10022
 Facsimile:    212-446-4900
 Attention:
    John L. Kuehn, Esq.
                       Armand A. Della Monica, Esq.

  
 or to such other address or to the
attention of such other person as the recipient party shall have specified by prior written notice to the sending party. 
  
 26. Governing Law. To the extent required by the Delaware Act, all issues and questions concerning the application, construction, validity,
interpretation and enforcement of this Agreement and the exhibits and schedules to this Agreement shall be governed by, and construed in accordance with, the Delaware Act, without giving to effect to any choice of law or conflict of law rules or
provisions (whether of the State of Delaware or any other jurisdiction) that would cause the application of any other law. In all other respects, all issues and questions concerning the application, construction, validity, interpretation and
enforcement of this Agreement and the exhibits and schedules to this Agreement shall be governed by, and construed in accordance with the laws of the State of New York, without giving effect to any choice of law or conflict of law rules or
provisions (whether of the State of New York or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of New York. 
  
 27. No Strict Construction. The parties to this Agreement have participated jointly in the negotiation and
drafting of this Agreement. In the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the parties to this Agreement, and no presumption or burden of proof shall arise
favoring or disfavoring any party by virtue of the authorship of any of the provisions of this Agreement. 
  
 28. Parties in Interest. Nothing herein shall be construed to be to the benefit of or enforceable by any Person that is not a party hereto
including any creditor of the Company. 
  
 29. Submission to
Jurisdiction. ANY AND ALL SUITS, LEGAL ACTIONS OR PROCEEDINGS ARISING OUT OF THIS AGREEMENT SHALL BE BROUGHT IN THE COURTS OF THE STATE OF NEW YORK OR THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK AND EACH MEMBER
AND OPTION HOLDER HEREBY SUBMITS TO AND ACCEPTS THE EXCLUSIVE JURISDICTION OF SUCH COURTS FOR THE PURPOSE OF SUCH SUITS, LEGAL ACTIONS OR PROCEEDINGS. IN ANY SUCH SUIT, LEGAL ACTION OR PROCEEDING, EACH MEMBER AND OPTION HOLDER WAIVES PERSONAL
SERVICE OF ANY SUMMONS, COMPLAINT OR OTHER PROCESS AND AGREES THAT SERVICE THEREOF MAY BE MADE BY CERTIFIED OR REGISTERED MAIL DIRECTED TO IT AT ITS ADDRESS SET FORTH IN THE BOOKS AND RECORDS OF THE COMPANY. TO THE FULLEST EXTENT PERMITTED BY LAW,
EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES ANY OBJECTION WHICH IT MAY NOW OR HEREAFTER HAVE TO THE 
  

 30 

 LAYING OF VENUE OR ANY SUCH SUIT, LEGAL ACTION OR PROCEEDING IN ANY SUCH COURT AND HEREBY FURTHER WAIVES ANY CLAIM THAT
ANY SUIT, LEGAL ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. 
  
 30. Descriptive Headings. The descriptive headings of this Agreement are inserted for convenience only and do not constitute a part of this
Agreement. 
  
 *     *
    *     *     * 
  
  

 31 

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

					
	
	 ATLANTIC BROADBAND GROUP, LLC

		
	By:	 	 /s/    Edward T. Holleran        

	 	 	

	 	 	 Name:
	 	 Edward T. Holleran

	 	 	 Title:
	 	 Chief Operating Officer

  
 [SIGNATURES
CONTINUE ON NEXT PAGE] 

 Signature Page to Members Agreement 
  

					
	
	 ABRY PARTNERS IV, L.P.

		
	By:	 	 ABRY Capital Partners, L.P.,
 Its General Partner

		
	By:	 	 ABRY Capital Partners, LLC,
 Its General Partner

		
	By:	 	 /s/    Jay Grossman        

	 	 	

	 	 	 Name:
	 	 Jay Grossman

	 	 	 Title:
	 	 Vice President

	
	 ABRY INVESTMENT PARTNERSHIP, L.P.

		
	By:	 	 ABRY Investment GP, LLC

		
	By:	 	 /s/    Jay Grossman        

	 	 	

	 	 	 Name:
	 	 Jay Grossman

	 	 	 Title:
	 	 Vice President

	
	 ABRY MEZZANINE PARTNERS, L.P.

		
	By:	 	 ABRY Mezzanine Investors, L.P.,
 Its general partner

		
	By:	 	 ABRY Mezzanine Holdings LLC
 Its general partner

		
	By:	 	 /s/    Jay Grossman        

	 	 	

	 	 	 Name:
	 	 Jay Grossman

	 	 	 Title:
	 	 Vice President

 Signature Page to Members Agreement 
  

					
	
	OAK HILL CAPITAL MANAGEMENT PARTNERS, L.P.
		
	By:	 	 OHCP GenPar, L.P., its general partner

	By:	 	 OHCP MGP, L.L.C., its general partner

		
	By:	 	 /s/    Kevin G. Levy        

	 	 	

	 	 	 Name:
	 	 Kevin G. Levy

	 	 	 Title:
	 	 Vice President

	
	 OAKHILL CAPITAL PARTNERS, L.P.

		
	By:	 	 OHCP GenPar, L.P., its general partner

	By:	 	 OHCP MGP, L.L.C., its general partner

		
	By:	 	 /s/    Kevin G. Levy        

	 	 	

	 	 	 Name:
	 	 Kevin G. Levy

	 	 	 Title:
	 	 Vice President

	
	 OHCP ATLANTIC, L.L.C.

		
	By:	 	Oak Hill Capital Partners, L.P., its managing member
	By:	 	 OHCP GenPar, L.P., its general partner

	By:	 	 OHCP MGP, L.L.C., its general partner

		
	By:	 	 /s/    Kevin G. Levy        

	 	 	

	 	 	 Name:
	 	 Kevin G. Levy

	 	 	 Title:
	 	 Vice President

	
	THE BOARD OF TRUSTEES OF THE LELAND STANDFORD JUNIOR UNIVERSITY (DAPER 2)
		
	By:	 	 /s/    Georganne Perkins        

	 	 	

	 	 	 Name:
	 	 Georganne Perkins

	 	 	 Title:
	 	 Director, Private Equity

 Signature Page to Members Agreement 
  

					
	
	THE NORTHWESTERN MUTUAL LIFE INSURANCE COMPANY
		
	By:	 	 /s/    Mark E. Kishler        

	 	 	

	 	 	 Name:
	 	 Mark E. Kishler

	 	 	 Its:
	 	 Authorized Representative

	
	 MERRILL LYNCH CAPITAL CORPORATION

		
	By:	 	 /s/    Cécile Baker        

	 	 	

	 	 	 Name:
	 	 Cécile Baker

	 	 	 Title:
	 	 Vice President

	
	 NEW YORK LIFE CAPITAL PARTNERS, L.P.

		
	By:	 	 NYLCAP Manager LLC

	Its:	 	 Investment Manager

		
	By:	 	 /s/    J M. Barker, V        

	 	 	

	 	 	 Name:
	 	 James M. Barker, V

	 	 	 Title:
	 	 Vice President

	
	 GPSF SECURITIES, INC.

		
	By:	 	 /s/    Molly S. Fergusson        

	 	 	

	 	 	 Name:
	 	 Molly S. Fergusson

	 	 	 Title:
	 	 Vice President

 Signature Page to Members Agreement 
  

	
	
	 /s/    Edward T. Holleran        

	

	 Edward T. Holleran

	
	 /s/    David J. Keefe        

	

	 David J. Keefe

 Signature Page to Members Agreement 
  

	
	
	 /s/    Patrick Bratton        

	

	 Patrick Bratton

 Signature Page to Members Agreement 
  

	
	
	 /s/    Chris Daly        

	

	 Chris Daly

 Signature Page to Members Agreement 
  

	
	
	 /s/    David Dane        

	

	 David Dane

 Signature Page to Members Agreement 
  

	
	
	 /s/    Kevin Maguire        

	

	 Kevin Maguire

 Signature Page to Members Agreement 
  

	
	
	 /s/    Stephen Grossman        

	

	 Stephen Grossman

 Signature Page to Members Agreement 
  

	
	
	 /s/    Matthew Murphy        

	

	 Matthew Murphy

 Signature Page to Members Agreement 
  

	
	
	 /s/    Richard Shea        

	

	 Richard Shea

 Signature Page to Members Agreement 
  

	
	
	 /s/    Thomas Roundtree        

	

	 Thomas Roundtree

 Signature Page to Members Agreement 
  

	
	
	 /s/    Almis Kuolas        

	

	 Almis Kuolas

 SCHEDULE I 
  

Member Interests 
  

															
	 	  	Class A
Common
Units

	 	 	Class B
Common
Units

	  	Class C
Common
Units

	  	Class D
Common
Units

	  	Class E
Common
Units

	 	 	Series A
Preferred
Units

	 Members
	  	 	 	 	 	  	 	  	 	  	 	 	 	 
	 ABRY Partners IV, L.P.
	  	119,933,500	 	 	 	  	 	  	 	  	 	 	 	 
	 ABRY Investment Partnership, L.P.
	  	66,500	 	 	 	  	 	  	 	  	 	 	 	 
	 ABRY Mezzanine Partners, L.P.
	  	10,000,000	 	 	 	  	 	  	 	  	4,458,363	 	 	40,000,000
	 Oak Hill Capital Partners, L.P.
	  	24,777,188	 	 	 	  	 	  	 	  	 	 	 	 
	 Oak Hill Capital Management Partners, L.P.
	  	635,312	 	 	 	  	 	  	 	  	 	 	 	 
	 OHCP Atlantic, L.L.C.
	  	1,337,500	 	 	 	  	 	  	 	  	 	 	 	 
	 The Board of Trustees of the Leland Stanford Junior University (DAPER 2)
	  	250,000	*	 	 	  	 	  	 	  	 	 	 	 
	 New York Life Capital Partners, L.P.
	  	8,000,000	*	 	 	  	 	  	 	  	1,671,886	*	 	15,000,000
	 The Northwestern Mutual Life Insurance Company
	  	5,000,000	*	 	 	  	 	  	 	  	2,786,477	*	 	25,000,000
	 Merrill Lynch Capital Corporation
	  	 	 	 	 	  	 	  	 	  	1,114,591	*	 	10,000,000
	 David Keefe
	  	 	 	 	300,000	  	 	  	5,700,000	  	 	 	 	 
	 Edward Holleran
	  	 	 	 	200,000	  	 	  	5,700,000	  	 	 	 	 
	 Patrick Bratton
	  	 	 	 	 	  	 	  	950,000	  	 	 	 	 
	 Chris Daly
	  	 	 	 	 	  	 	  	830,000	  	 	 	 	 
	 David Dane
	  	 	 	 	 	  	 	  	950,000	  	 	 	 	 
	 Kevin Maguire
	  	 	 	 	 	  	 	  	715,000	  	 	 	 	 
	 Stephen Grossman
	  	 	 	 	 	  	 	  	355,000	  	 	 	 	 
	 Matthew Murphy
	  	 	 	 	 	  	 	  	475,000	  	 	 	 	 
	 Richard Shea
	  	 	 	 	 	  	 	  	240,000	  	 	 	 	 
	 Thomas Roundtree
	  	 	 	 	 	  	 	  	145,000	  	 	 	 	 
	 Almis Kuolas
	  	 	 	 	 	  	 	  	950,000	  	 	 	 	 
	 Jack Langer
	  	 	 	 	 	  	 	  	115,000	  	 	 	 	 
	 Bartlett Leber
	  	 	 	 	 	  	 	  	225,000	  	 	 	 	 
	 Donna Garofano
	  	 	 	 	 	  	 	  	180,000	  	 	 	 	 
	 Dave Floberg
	  	 	 	 	 	  	 	  	90,000	  	 	 	 	 
	 John Van Luling
	  	 	 	 	 	  	 	  	135,000	  	 	 	 	 
	 Holly Delasandro
	  	 	 	 	 	  	 	  	90,000	  	 	 	 	 

														
	 	  	Class A
Common
Units

	 	 	Class B
Common
Units

	  	Class C
Common
Units

	  	Class D
Common
Units

	  	Class E
Common
Units

	  	Series A
Preferred
Units

	 Robert Peznola
	  	 	 	 	 	  	 	  	135,000	  	 	  	 
	 David Isenberg
	  	 	 	 	 	  	 	  	115,000	  	 	  	 
	 GE Capital Corporation
	  	2,000,000	**	 	 	  	 	  	 	  	 	  	 
	 Total
	  	172,000,000	 	 	500,000	  	0	  	18,095,000	  	10,031,317	  	90,000,000

  
 *non-voting series
 **options to purchase non-voting series 
  

 2 

 SCHEDULE II 
  
 Notices 
  
 If to the Company, to: 
  
 c/o ABRY Partners, LLC 
 111 Huntington Avenue 
 30th Avenue 
 Boston, MA 02199

 Attention:     Jay Grossman 
 Facsimile:     (617) 859-7205 
  
 With a copy, which shall not constitute notice to the Company, to: 
  
 Kirkland & Ellis LLP 
 Citicorp Center 
 153 East 53rd Street 
 New York, NY 10022 
 Attention:     John L. Kuehn, Esq. 
 Facsimile:     (212) 446-4900 
  
 If to ABRY or ABRY Investment Partnership, L.P., to: 
  
 c/o ABRY Partners, LLC 
 111 Huntington Avenue 
 30th Avenue Boston, MA 02199 
 Attention:     Jay Grossman 
 Facsimile:     (617) 859-7205 
  
 With a copy, which shall not constitute notice to ABRY, to: 
  
 Kirkland & Ellis LLP 
 Citicorp Center 
 153 East 53rd Street 
 New York, NY 10022-4611 
 Attention:     John L. Kuehn, Esq. 
 Facsimile:     (212) 446-4900 

 If to ABRY Mezzanine, to: 
  
 c/o ABRY Partners, 
 LLC 111 Huntington Avenue 
 30th Avenue 
 Boston, MA 02199 
 Attention:     Dan Budde 
 Facsimile:     (617) 859-7205 
  
 With a copy, which shall not constitute notice to ABRY
Mezzanine, to: 
  
 Kirkland & Ellis LLP

 Citicorp Center 153 East 53rd Street 
 New York, NY 10022-4611 
 Attention:     John L. Kuehn, Esq. 
 Facsimile:
    (212) 446-4900 
  
 If
to Northwestern, to: 
  
 The Northwestern
Mutual Life Insurance Company 
 720 East Wisconsin Avenue 
 Milwaukee, WI 53202 
 Attention:     Securities Department 
 Facsimile:     (414) 665-7124

  
 With copies, which shall not constitute
notice to Northwestern, to: 
  
 Schiff Hardin
LLP 
 6600 Sears Tower 
 Chicago, IL 60606 
 Attention:     Andrew Kling, Esq. 
 Facsimile:     (312) 258-5700 
  
 If to OHCP, OHCP Atlantic, L.L.C., Oak Hill Capital Management Partners, L.P. or The Board of Trustees of
the Leland 
 Stanford Junior University (DAPER 2), to: 
  
 201 Main Street, Suite 2415 
 Forth Worth, TX 76102 
 Attention:     Chief Financial Officer 
 Facsimile:     (817) 339-7350

  
 With a copy, which shall not constitute
notice to such Person, to: 
  
 Paul, Weiss,
Rifkind, Wharton & Garrison LLP  
 1285 Avenue of the Americas 

 New York, NY 10019-6064 
 Attention:     Kenneth M. Schneider 
 Facsimile:     (212) 757-3990 
  
 If to New York Life Capital Partners, L.P., to: 
  
 51 Madison Avenue  
 New York, New York 10010 
 Attention:     Quint Barker, Donnamarie Cristina 
 Facsimile:
    (212) 576-5591 
  
 With a copy, which shall not constitute notice to New York Life Capital Partners, L.P., to: 
  
 Schiff Hardin LLP 
 6600 Sears Tower 
 Chicago, IL 60606 
 Attention:     Andrew Kling, Esq. 
 Facsimile:     (312) 258-5700 
  
 If to GPSF Securities, Inc., to: 
  
 c/o GE Capital Corporation 
 Structured Finance Department 
 120 Long Ridge Road 
 Stamford, CT 06927  
 Attention:     Doug Tapley 
  

If to Merrill, to: 
  
 Merrill Lynch Capital Corporation 
 4 World Financial Center 
 250 Vesey Street 
 New York, NY 10080 
 Attention:     Cecile Baker, Vice President 
 Facsimile:     (212) 738-1957

  
 With a copy, which shall not constitute
notice to Merrill, to: 
  
 Cahill Gordon
& Reindel LLP 
 80 Pine Street 
 New York, NY 10005 
 Attention:     Jonathan Schaffzin, Esq. 
 Facsimile:     212) 269-5420

  
 If to any Management Member, to:

 Atlantic Broadband Group, LLC  
 One Batterymarch Park 
 Suite 405 
 Quincy, MA 02169 
 Attention:     [such Management Member] 
 Facsimile:     617-786-8803 

 SCHEDULE 1 
  
 Affiliate Transactions 
  
 Reimbursement Agreement, dated as of March 1, 2004, by and among the Company, Atlantic Finance and ABRY Partners, LLC, a Delaware limited liability company. 

 
 This Agreement. 
  
 Registration Rights Agreement. 
  
 Members Agreement. 
  
 Operating Agreement. 
  
 Investors Securities
Purchase Agreement. 
  
 Preferred Securities Purchase Agreement. 
  
 Incentive Unit Purchase Agreements to entered into between the Company and each of Edward
Holleran, David Keefe and certain other members of the Company’s management. 
  
 Employment Agreements to be entered into between the Company and each of Edward Holleran, David Keefe and certain other members of the Company’s management. 
  

 EXHIBIT A 
  
 FORM OF JOINDER [NEW MEMBERS]  
 TO MEMBERS AGREEMENT 
  
 THIS JOINDER to the Members Agreement, dated as of March 1, 2004 by and among Atlantic Broadband Group, LLC, a Delaware limited liability company (the “Company”), and the Members and Option Holders
parties thereto (“Agreement”), is made and entered into as of [                ] by and between the Company and
[                        ] (“Holder”). Capitalized terms used herein but not otherwise defined
shall have the meanings set forth in the Agreement. 
  
 WHEREAS,
Holder has acquired certain Member Interests, and the Agreement and the Company requires Holder, as a holder of such interests, to become a party to the Agreement, and Holder agrees to do so in accordance with the terms hereof. 
  
 NOW, THEREFORE, in consideration of the mutual covenants contained herein and
other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties to this Joinder hereby agree as follows: 
  
 1. Agreement to be Bound. Holder hereby agrees that upon execution of this Joinder, he, she or it shall become a party to the Agreement and shall
be fully bound by, and subject to, all of the covenants, terms and conditions of the Agreement as though an original party thereto and shall be deemed a Member for all purposes thereof. In addition, Holder hereby agrees that all Common Units and
Preferred Units held by Holder shall be deemed [Add for transferees of ABRY/Oak Hill Member Interests: [ABRY/Oak Hill]] Member Interests for all purposes of the Agreement. 
  
 2. Successors and Assigns. Except as otherwise provided herein, this Joinder shall bind and inure to the benefit of
and be enforceable by the Company and its successors and assigns and Holder and any subsequent holders of his, her or its Member Interests and the respective successors and assigns of each of them, so long as they hold any Member Interests.

  
 3. Counterparts. This Joinder may be executed in
separate counterparts each of which shall be an original and all of which taken together shall constitute one and the same agreement. 
  
 4. Notices. For purposes of Section 20 of the Agreement, all notices, demands or other communications to the Holder shall be directed to:

  
 [Name] 
 [Address] 
 [Facsimile Number] 

 5. Governing Law. This Agreement and the rights of the parties hereunder
shall be interpreted in accordance with the laws of the State of New York, and all rights and remedies shall be governed by such laws without regard to principles of conflicts of laws. 
  
 6. Descriptive Headings. The descriptive headings of this Joinder are
inserted for convenience only and do not constitute a part of this Joinder. 
  
 * * * * * 

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

  

			
	 ATLANTIC BROADBAND GROUP, LLC

		
	By:	 	 
	 	 	

	 	 	 Name:
 Title:

	
	[HOLDER]
		
	By:	 	 
	 	 	

	 	 	 Name:
 Title:

  
  

 EXHIBIT B 
  
 FORM OF JOINDER [OPTION HOLDERS] 
 TO MEMBERS AGREEMENT 
  
 THIS JOINDER to the Members Agreement, dated as of March 1, 2004, by and among Atlantic Broadband Group, LLC, a Delaware limited liability company (the “Company”) and the Members and Option Holders parties thereto (the
“Agreement”), is made and entered into as of [                ], by and between the Company and
[                        ] (“Holder”). Capitalized terms used herein but not otherwise defined
shall have the meanings set forth in the Agreement. 
  
 WHEREAS,
on the date hereof, Holder has acquired an Option to acquire [            ][Class/Series] Units and, as a condition precedent to the issuance of the Option, the Company
requires that Holder, as the holder of Member Interests, become a party to the Agreement, and Holder agrees to do so in accordance with the terms hereof. 
  
 NOW, THEREFORE, in consideration of the mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties to this Joinder hereby agree as follows: 
  
 1. Agreement to be Bound. Holder hereby (i) acknowledges that it has received and reviewed a complete copy of the Agreement and (ii) agrees that upon execution of this Joinder, he, she or it shall become
a party to the Agreement and shall be fully bound by, and subject to, all of the covenants, terms and conditions of the Agreement as though an original party thereto and shall be deemed an Option Holder and shall be entitled to all the rights
incidental thereto. The Holder and the Company acknowledge and agree that the Holder is not and shall not be deemed to be a Member as a result of the Holder executing this Joinder and becoming a party to the Agreement. 
  
 2. Successors and Assigns. Except as otherwise provided herein,
this Joinder shall bind and inure to the benefit of and be enforceable by the Company and its successors and assigns and Holder and any subsequent holders of Holder’s Member Interests and the respective successors and assigns of each of them.

  
 3. Counterparts. This Joinder may be executed in
separate counterparts each of which shall be an original and all of which taken together shall constitute one and the same agreement. 
  
 4. Notices. For purposes of Section 25 of the Agreement, all notices, demands or other communications to the Holder shall be directed to:

 [Name] 
 [Address] 
 [Facsimile Number] 

 5. Governing Law. This Agreement and the rights of the parties hereunder shall be
interpreted in accordance with the laws of the State of New York, and all rights and remedies shall be governed by such laws without regard to principles of conflicts of laws. 
  
 6. Descriptive Headings. The descriptive headings of this Joinder are inserted for convenience only and do not
constitute a part of this Joinder. 
  
 * * * * * 

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

			
	 ATLANTIC BROADBAND GROUP, LLC

		
	By:	 	 
	 	 	

	 	 	 Name:
 Title:

	
	[HOLDER]
		
	By:	 	 
	 	 	

	 	 	 Name:
 Title:

  

 44Registration Rights Agreement dated March 1, 2004

 Exhibit 10.7 
  
 EXECUTION COPY 
  
 REGISTRATION RIGHTS AGREEMENT 
  
 This REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is made as of March 1, 2004, by and among Atlantic Broadband Group, LLC, a Delaware
limited liability company (the “Company”), and the members of the Company and the option holders signatory hereto or signatory to a joinder in the form attached hereto as Exhibit A (collectively, the
“Investors”). Capitalized terms used herein but not otherwise defined in this Agreement are defined in Section 9 below. 
  
 The parties hereto agree as follows: 
  
 1. Demand Registrations. 
  
 (a) Requests for Registration. Subject to Sections 1(b) through (g) below, (i) at any time and from time to time, the holders of a
majority of the Investor Registrable Securities may request registration, whether underwritten or not, under the Securities Act of all or any portion of their respective Investor Registrable Securities (A) on Form S-1 or any similar long-form
registration statement, (B) on Form S-2 or S-3 or any similar short-form registration statement, if available, or (C) on any applicable “short form” pursuant to Rule 415 under the Securities Act, if available, and (ii) at any time and from
time to time following the Initial Public Offering, (A) the holders of at least a majority of the Outside Preferred Investor Registrable Securities may request registration, whether underwritten or not, under the Securities Act of all or any portion
of their respective Outside Preferred Investor Registrable Securities on Form S-1 or any similar long-form registration statement (together with the long-form registrations contemplated by clause (i)(A) above, the “Long-Form
Registrations”) and (B) any holder of Preferred Investor Registrable Securities may request registration, whether underwritten or not, under the Securities Act of all or any portion of such holder’s Preferred Investor Registrable
Securities (1) on Form S-2 or S-3 or any similar short-form registration statement (together with the short-form registrations contemplated by clause (i)(B) above, the “Short-Form Registrations”), if available, or (2) on any
applicable “short form” pursuant to Rule 415 under the Securities Act (together with any shelf registration contemplated by clause (i)(C) above, “415 Registrations”), if available. All registrations requested as described
in this Section 1 are referred to herein as “Demand Registrations.” Each such request for a Demand Registration (a “Demand Notice”) will specify the approximate number of Registrable Securities requested to
be registered, the anticipated per share price range for such offering (which range may be revised from time to time by the Persons initiating such Demand Registration by written notice to the Company to that effect), and whether the Demand
Registration will be underwritten. Each request for a Demand Registration and, subject to the provisions of Section 7 below, each request for inclusion in such Demand Registration also will specify the manner and disposition of the shares of
Registrable Securities included therein. Within 10 days after receipt of any such Demand Notice, the Company will give written notice of such request for registration to all other holders of Registrable Securities and will include in such
registration all Registrable Securities with respect to which the Company has received written requests for inclusion therein within 15 days after the receipt of the Company’s notice. 

 (b) Long-Form Registrations. (i) The holders of at least a majority of the Investor Registrable
Securities and (ii) the holders of at least a majority of the Outside Preferred Investor Registrable Securities will each be entitled to request two Long-Form Registrations in which the Company will pay all Registration Expenses; provided
that the Company will have no obligation to grant any request for a Long-Form Registration unless the aggregate value of the Registrable Securities to be sold through such registration equals at least $5.0 million. The Company will pay all
Registration Expenses in connection with any Demand Registration initiated as a Long-Form Registration whether or not it has become effective. The Company will use commercially reasonable efforts to cause any Long-Form Registration to be declared
effective under the Securities Act as soon as practicable after filing such Long-Form Registration. A registration will not count as a permitted Long-Form Registration until it has become effective. A registration will not count as a Long-Form
Registration unless the holders that delivered the related Demand Notice are able to register and sell at least 90% of the Registrable Securities that such holders have requested to be included in such registration. 
  
 (c) Short-Form Registrations. (i) The holders of at least a majority
of the Investor Registrable Securities and (ii) the holders of Preferred Investor Registrable Securities will each be entitled to request an unlimited number of Short-Form Registrations in which the Company will pay all Registration Expenses;
provided that the Company will have no obligation to grant any request for a Short-Form Registration unless the aggregate value of the Registrable Securities to be sold through such registration equals at least $1.0 million. Demand
Registrations will be Short-Form Registrations whenever the Company is permitted to use any applicable short form. After the Company has become subject to the reporting requirements of the Securities Exchange Act, the Company will use commercially
reasonable efforts to make Short-Form Registrations on Form S-3 or any other short form available for the sale of Registrable Securities. The Company will use its commercially reasonable efforts to cause any Short-Form Registration to be declared
effective under the Securities Act as soon as practicable after filing of such Short-Form Registration. A registration will not count as a permitted Short-Form Registration until it has become effective. 
  
 (d) 415 Registrations. 
  
 (i) (A) The holders of at least a majority of the Investor Registrable
Securities will be entitled to request two and (B) the holders of Preferred Investor Registrable Securities will be entitled to request three, 415 Registrations in which the Company will pay all Registration Expenses; provided that the
Company will have no obligation to grant any request for a 415 Registration unless such registration is on Form S-2 or S-3 or any similar short-form; and provided, further, that the Company will have no obligation to grant any request
for a 415 Registration unless the aggregate value of the Registrable Securities to be sold through such registration equals at least $1.0 million; and provided, further, that the holders of Outside Preferred Registrable Securities (in
the aggregate) will not be entitled to request more than two such 415 Registrations. Subject to the availability of required financial information, within 45 days after the Company receives written notice of a request for a 415 Registration, the
Company will file with the Securities and Exchange Commission a registration statement under the 
  

 2 

 Securities Act for the 415 Registration. The Company will use its commercially reasonable efforts to cause the 415
Registration to be declared effective under the Securities Act as soon as practicable after filing and, once effective, the Company will (subject to the provisions of clause (ii) below) cause such 415 Registration to remain effective for such time
period as is specified in such request, but for no time period longer than the period ending on the earlier of (A) the second anniversary of the date of filing of the 415 Registration, (B) the date on which all Registrable Securities covered by such
415 Registration have been sold pursuant to the 415 Registration and (C) the date as of which there are no longer any Registrable Securities covered by such 415 Registration in existence. 
  
 (ii) If the holders of a majority of the Investor Registrable Securities notify the Company in writing that they intend to
effect the sale of all or substantially all of the Investor Registrable Securities held by such holders pursuant to a single integrated offering pursuant to a then effective registration statement for a 415 Registration (a
“Takedown”), then so long as the aggregate value of the Investor Registrable Securities to be sold through such Takedown equals at least $1.0 million, the Company and each holder of Registrable Securities will not effect any public
sale or distribution of its Equity Securities during the 90-day period beginning on the date such notice of a Takedown is received, except pursuant to such Takedown. Notwithstanding anything contained herein to the contrary, all holders of
Registrable Securities and holders of other Common Stock who have a contractual right to participate in such Takedown may participate in such Takedown, pro rata based on the number of Registrable Securities and shares of other Common Stock
requested by such holders to be included in such Takedown. 
  
 (e)
Priority on Demand Registrations. If a Demand Registration is an underwritten offering and the managing underwriters advise the Company in writing that in their opinion the number of Registrable Securities and other shares of Common Stock
requested to be included in such offering exceeds the number of Registrable Securities and other shares of Common Stock, if any, which can be sold in such offering without adversely affecting the Company or the marketability of the offering, the
Company will include in such registration (i) first, the number of Company Registrable Securities (if any) that holders of a majority of the Investor Registrable Securities held by the Person(s) that delivered the related Demand Notice have
requested to be included in such offering pursuant to Section 4(c) below, and (ii) second, the number of Registrable Securities or shares of other Common Stock requested to be included in such registration by the holders of such
Registrable Securities or shares of such other Common Stock under this Agreement or pursuant to any other agreement with the Company, pro rata among the respective holders thereof on the basis of the number of Registrable Securities or shares
of such other Common Stock owned by each such holder, in each case, up to the aggregate number of shares of Common Stock which in the opinion of such managing underwriters can be sold without adversely affecting the Company or the marketability of
such offering. 
  
 (f) Restrictions on Demand
Registrations. 
  
 (i) Notwithstanding any other provision of
this Agreement, the Company will not be obligated to effect any Demand Registration within 180 days after the effective date of a previous Demand Registration or a previous registration in which the holders 
  

 3 

 of Registrable Securities were given piggyback rights to have such holder’s Registrable Securities included pursuant
to Section 2, whether or not Section 1(e), Section 2(c) or Section 2(d) applied to such offering. 
  
 (ii) If the Company’s board of directors in good faith determines that the filing or effectiveness of a registration statement in connection with
any requested Demand Registration would be reasonably likely to materially and adversely affect any material contemplated acquisition, divestiture, registered primary offering or other transaction as to which the Company or any of its Subsidiaries
has then taken substantial steps, or would require disclosure of facts or circumstances which disclosure would be reasonably likely to materially and adversely affect any material contemplated acquisition, divestiture, registered primary offering or
other transaction as to which the Company or any of its Subsidiaries has then taken substantial steps, then the Company may delay such registration for a period of up to 120 days so long as the Company is still pursuing the transaction that allowed
such delay (it being agreed that the Company may not delay requested registrations pursuant to this clause (ii) more than once during any period of 360 consecutive days). If the Company postpones the filing or effectiveness of a registration
statement pursuant to this Section 1(f)(ii), it will promptly notify in writing the holders of Registrable Securities requesting such registration when the events or circumstances permitting such postponement have ended. 
  
 (g) Selection of Underwriters. (i) In the case of a Demand Notice
delivered by the holders of at least a majority of the Investor Registrable Securities, the holders of at least a majority of the Investor Registrable Securities held by the holders that delivered such Demand Notice shall, (ii) in the case of a
Demand Notice delivered by the holders of at least a majority of the Outside Preferred Investor Registrable Securities pursuant to Section 1(a)(ii)(A), the holders of at least a majority of the Outside Preferred Investor Registrable
Securities held by the holders that delivered such Demand Notice shall, and (iii) in the case of a Demand Registration delivered by any holder of Preferred Investor Registrable Securities pursuant to Section 1(a)(ii)(B), such holder shall
have the right to select the investment banker(s) and manager(s) to administer the offering in the related Demand Registration, in each case, subject to the Company’s approval which will not be unreasonably withheld or delayed. 
  
 2. Piggyback Registrations. 
  
 (a) Right to Piggyback. Whenever the Company proposes to register any
of its Common Stock under the Securities Act (other than pursuant to a Demand Registration) and the registration form to be used may be used for the registration of Registrable Securities (a “Piggyback Registration”), the Company
will give prompt written notice to all holders of Registrable Securities of its intention to effect such a registration and will include in such registration all Registrable Securities with respect to which the Company has received written requests
for inclusion in such registration within 20 days after the receipt of the Company’s notice. 
  
 (b) Piggyback Expenses. The Registration Expenses of the Company and of the holders of Registrable Securities will be paid by the Company in all
Piggyback Registrations. 
  

 4 

 (c) Priority on Primary Registrations. If a Piggyback Registration is an underwritten primary
registration on behalf of the Company, and the managing underwriters advise the Company in writing that in their opinion the number of shares of Common Stock requested to be included in such registration exceeds the number which can be sold in such
offering without adversely affecting the marketability of the offering, the Company will include in such registration (i) first, the number of shares of Common Stock the Company proposes to sell in such registration; and (ii) second,
the number of Registrable Securities and other shares of Common Stock requested to be included in such registration pursuant to contractual obligations of the Company, pro rata among the respective holders of such Registrable Securities or
such other Common Stock on the basis of the number of Registrable Securities or shares of such other Common Stock owned by each such holder, in each case, up to the aggregate number of shares of Common Stock which in the opinion of such managing
underwriters can be sold without adversely affecting the Company or the marketability of such offering. 
  
 (d) Priority on Secondary Registrations. If a Piggyback Registration is an underwritten secondary registration on behalf of holders of Common Stock
who have the contractual right to initiate such a registration, and the managing underwriters advise the Company in writing that in their opinion the number of shares of Common Stock requested to be included in such registration exceeds the number
which can be sold in such offering without adversely affecting the Company or the marketability of the offering, the Company will include in such registration (i) first, the number of shares of Common Stock requested to be included in such
offering by the holders initially requesting such registration pursuant to their contractual rights; (ii) second, the number of shares of Common Stock the Company proposes to sell in such registration; and (iii) third, the number of
Registrable Securities and other shares of Common Stock requested to be included in such registration pursuant to binding contractual obligations of the Company, pro rata among the respective holders thereof on the basis of the number of
Registrable Securities or shares of such other Common Stock requested by them to be included in such registration, in each case, up to the aggregate number of shares of Common Stock which in the opinion of such managing underwriters can be sold
without adversely affecting the Company or the marketability of such offering. 
  
 (e) Selection of Underwriters. If any Piggyback Registration is an underwritten offering, the Company’s selection of investment banker(s) and manager(s) for the offering must be approved by the holders of
a majority of the Registrable Securities requested to be included in such offering. Such approval will not be unreasonably withheld or delayed. 
  
 (f) Other Registrations. If the Company has previously filed a registration statement with respect to Registrable Securities pursuant to Section
1 hereof or pursuant to this Section 2, and if such previous registration has not been withdrawn or abandoned, the Company will not file or cause to be effected any other registration of any of its Equity Securities or securities
convertible or exchangeable into or exercisable for its Equity Securities under the Securities Act (except on Form S-4 or Form S-8 or any successor forms), whether on its own behalf or at the request of any holder or holders of such securities,
until a period of at least 180 days has elapsed from the date such previous registration became effective. 
  
 3. Holdback Agreements. Notwithstanding anything to the contrary contained in this Agreement, neither the Company nor any holder of Registrable
Securities will 
  

 5 

 effect any public sale or distribution of the Company’s Equity Securities during the seven days prior to or during
the 180-day period beginning on the effective date of the Initial Public Offering, any underwritten Demand Registration or any underwritten Piggyback Registration (except as part of such underwritten registration or pursuant to registrations on Form
S-8 or any successor form), unless the underwriter(s) managing such underwritten registration otherwise agree. Notwithstanding anything in this Section 3 to the contrary, no holder of Registrable Securities shall be released by from the
restrictions on public sale and distributions contained in this Section 3 unless all holders of Registrable Securities are so released. 
  
 4. Registration Procedures. Whenever the holders of Registrable Securities have requested that any Registrable Securities be registered pursuant to
this Agreement, the Company will, subject to the provisions of Section 7 hereof, use its commercially reasonable efforts to effect the registration and the sale of such Registrable Securities in accordance with the intended method of
disposition thereof, and pursuant thereto the Company will as expeditiously as possible: 
  
 (a) prepare and file with the Securities and Exchange Commission a registration statement with respect to such Registrable Securities and use its commercially reasonable efforts to cause such registration statement to
become effective; 
  
 (b) notify each holder of Registrable
Securities of the effectiveness of each registration statement filed under this Agreement and prepare and file with the Securities and Exchange Commission such amendments and supplements to such registration statement and the prospectus used in
connection therewith as may be necessary to keep such registration statement effective for the earlier of (i) a period of not less than two years (or, in the case of a 415 Registration, not more than two years) and (ii) the date as of which there
are no longer any Registrable Securities covered by such registration statements in existence, in each case in order to comply with the provisions of the Securities Act with respect to the disposition of all shares of Common Stock covered by such
registration statement; 
  
 (c) in the case of a Demand
Registration that is the Initial Public Offering only, if requested by the holders of a majority of the Registrable Securities held by the Person(s) that delivered the related Demand Notice use its commercially reasonable efforts to cause to be
included in such registration statement Equity Securities (“Company Registrable Securities”) to be offered in a primary offering of Common Stock contemporaneously with or as part of such offering; 
  
 (d) furnish to each seller of Registrable Securities such number of copies of
such registration statement, each amendment and supplement thereto, the prospectus included in such registration statement (including each preliminary prospectus), exhibits, and such other documents as such seller and underwriter, if any, may
reasonably request in order to facilitate the disposition of the Registrable Securities owned by such seller in accordance with the procedures described therein; 
  
 (e) use its best efforts to register or qualify such Registrable Securities under such other securities or blue sky laws of
such jurisdictions as any seller and underwriter reasonably requests and do any and all other acts and things which may be reasonably necessary 
  

 6 

 or advisable to enable such seller and underwriter to consummate the disposition in such jurisdictions of the Registrable
Securities owned by such seller (provided that the Company will not be required to (i) qualify generally to do business in any jurisdiction where it would not otherwise be required to qualify but for this subsection, (ii) subject itself to
taxation in any such jurisdiction or (iii) consent to general service of process in any such jurisdiction); 
  
 (f) notify each seller of such Registrable Securities, at any time when a prospectus relating thereto is required to be delivered under the Securities
Act, of the happening of any event as a result of which the prospectus included in such registration statement contains an untrue statement of a material fact or omits any fact necessary to make the statements in such prospectus not misleading and,
at the request of any such seller, promptly to prepare and file a supplement or amendment to such prospectus and/or registration statement so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus will not
contain an untrue statement of a material fact or omit to state any material fact necessary to make the statements in such prospectus not misleading; 
  
 (g) cause all such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and,
if not so listed, to be listed on the National Association of Securities Dealers (“NASD”) automated quotation system or any other securities exchange on which any Common Stock is listed; 
  
 (h) provide a transfer agent and registrar for all such Registrable
Securities not later than the effective date of the first registration statement relating to Registrable Securities or other shares of Common Stock; 
  
 (i) enter into such customary agreements (including underwriting agreements in customary form) and take all such other actions as the holders of a
majority of the Registrable Securities initially requested to be included in such offering or the underwriters, if any, reasonably request in order to expedite or facilitate the disposition of the Registrable Securities requested to be included in
such offering (including effecting a stock split or a combination of shares); 
  
 (j) make available for inspection by any seller of Registrable Securities, any underwriter participating in any disposition pursuant to such registration statement and any attorney, accountant or other agent retained
by any such seller or underwriter, all financial and other records, pertinent corporate documents and properties of the Company, and cause the Company’s officers, directors, employees and independent accountants to supply all information
reasonably requested by any such seller, underwriter, attorney, accountant or agent in connection with such registration statement; 
  
 (k) otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Securities and Exchange Commission, and make
available to its security holders, as soon as reasonably practicable, an earnings statement covering the period of at least 12 months beginning with the first day of the Company’s first full calendar quarter after the effective date of the
applicable registration statement, which earnings statement will satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder; 
  

 7 

 (l) in the event of the issuance of any stop order suspending the effectiveness of a registration
statement, or of any order suspending or preventing the use of any related prospectus or suspending the qualification of any securities included in such registration statement for sale in any jurisdiction, the Company will use its commercially
reasonable efforts to obtain promptly the withdrawal of such order; 
  
 (m) use its commercially reasonable efforts to cause its management to participate fully in the sale process, including, without limitation, the preparation of the applicable registration statement and the preparation and presentation of
any “road shows,” whether domestic or international; 
  
 (n) use its commercially reasonable efforts to cause all Registrable Securities covered by the applicable registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to
enable the seller or sellers of such Registrable Securities to consummate the disposition of such Registrable Securities in accordance with the procedures set forth in such registration statement; 
  
 (o) furnish to each seller of Registrable Securities a signed counterpart
addressed to such seller and the underwriters, if any, of: 
  
 (i) an opinion of counsel for the Company (in customary form), dated the effective date of such registration statement (and, if such registration relates to an underwritten public offering, an opinion dated the date of the closing under the
underwriting agreement), reasonably satisfactory in form and substance to such seller, and 
  
 (ii) a “comfort” letter, dated the effective date of such registration statement (and, if such registration relates to an underwritten public offering, a letter dated the date of the closing under the
underwriting agreement), signed by the independent public accountants who have certified the Company’s financial statements included in such registration statement, covering substantially the same matters with respect to such registration
statement (and the prospectus included in such registration statement) and, in the case of the accountants’ letter, with respect to events subsequent to the date of such financial statements, as are customarily covered in opinions of
issuer’s counsel and in accountants’ letters delivered to the underwriters in underwritten public offerings of securities; 
  
 (p) notify the holders of Registrable Securities and the managing underwriter or underwriters, if any, promptly and confirm such advice in writing
promptly thereafter: 
  
 (i) when the registration statement,
the prospectus or any prospectus supplement related to such registration statement or post-effective amendment to the registration statement has been filed, and, with respect to the registration statement or any post-effective amendment to such
registration statement, when the same has become effective; 
  
 (ii) of any request by the Securities and Exchange Commission for amendments or supplements to the registration statement or the prospectus or for additional information; 
  

 8 

 (iii) of the issuance by the Securities and Exchange Commission of any stop order suspending the
effectiveness of the registration or the initiation of any proceedings by any Person for that purpose; and 
  
 (iv) of the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under
the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose; 
  
 (q) at least five days before filing a registration statement or prospectus and as promptly as practicable prior to filing any amendments or supplements
thereto, furnish to legal counsel representing the holders of the Registrable Securities covered by such registration statement copies of all such documents proposed to be filed; 
  
 (r) use commercially reasonable efforts to obtain the withdrawal of any order suspending the effectiveness of a registration
statement filed in connection herewith, or the lifting of any suspension of the qualification (or exemption from qualification) of any of the Registrable Securities for sale in any jurisdiction, at the earliest possible moment; 
  
 (s) cooperate with each holder of Registrable Securities covered by the
applicable registration statement and the managing underwriters, if any, to facilitate the timely preparation and delivery of certificates representing Registrable Securities to be sold, which certificates will not bear any restrictive legends and
will be in a form eligible for deposit with the transfer agent for the Common Stock, and enable such Registrable Securities to be in such denominations and registered in such names as the managing underwriters, if any, or holders may request at
least two business days prior to any sale of Registrable Securities; 
  
 (t) make available for inspection by a representative selected by a majority of the holders of Registrable Securities participating in the offering, any underwriter participating in any disposition pursuant to the registration and any
attorney or accountant retained by such selling holder or underwriter (each, an “Inspector”), all financial and other records, pertinent corporate documents and properties of the Company (the “Records”), and cause
the Company’s officers, directors and employees to supply all information reasonably requested by any such Inspector in connection with such registration; provided that the Company will not be required to comply with this clause (t) if
there is a reasonable likelihood, in the judgment of the Company exercised in good faith, that such delivery could result in the loss of any attorney-client privilege related thereto; and provided further that Records which the Company
determines, in good faith, to be confidential and which it notifies the Inspectors are confidential will not be disclosed by the Inspectors (other than to any holder of Registrable Securities participating in the offering) unless (x) such Records
have become generally available to the public or (y) the disclosure of such Records may be necessary or appropriate (A) to comply with any law, rule, regulation or order applicable to any such Inspectors or holder of Registrable Securities, (B) in
response to any subpoena or other legal process or (C) in connection with any litigation to which such Inspectors or any holder of Registrable Securities is a party (provided that Company is provided with reasonable notice of such proposed
disclosure and a reasonable opportunity to seek a protective order or other appropriate remedy with respect to such Records); and 
  

 9 

 (u) use its commercially reasonable efforts to provide a CUSIP number for the Registrable Securities, not
later than the effective date of the registration. 
  
 Each holder of Registrable
Securities who is an officer or employee of the Company agrees that if and for so long as such holder serves as an officer of the Company or is employed by the Company, such holder will participate fully in the sale process, including the
preparation of the registration statement and the preparation and presentation of any such road shows. Any holder of Registrable Securities requested to be included in such offering may withdraw any or all of such Registrable Securities from such
offering by written notice to the Company to that effect (whereupon such withdrawn Registrable Securities will no longer be considered to have been requested to be included in such offering), and no such withdrawal will adversely affect the rights
of any holder of Registrable Securities requested to be included in such offering. 
  
 5. Registration Expenses. 
  
 (a) All expenses incidental to the Company’s performance of or compliance with this Agreement, including all registration and filing fees, fees and expenses of compliance with securities or blue sky laws, printing expenses, messenger
and delivery expenses, fees and disbursements of custodians, and fees and disbursements of counsel for the Company and all independent certified public accountants, underwriters (excluding discounts and commissions) and other Persons retained by the
Company (all such expenses being herein called “Registration Expenses”), will be borne by the Company, and the Company will pay its internal expenses (including all salaries and expenses of its officers and employees performing
legal or accounting duties), the expense of any annual audit or quarterly review, the expense of any liability insurance and the expenses and fees for listing the securities to be registered on each securities exchange on which similar securities
issued by the Company are then listed or on the NASD automated quotation system. 
  
 (b) In connection with each Demand Registration and each Piggyback Registration, the Company will reimburse the holders of Registrable Securities included in such registration for the reasonable fees and disbursements
of one law firm chosen by the holders of a majority of the Registrable Securities requested to be included in such registration. 
  
 6. Indemnification. 
  
 (a) The Company agrees to indemnify, to the extent permitted by law, each holder of Registrable Securities, such holder’s officers and directors, and
each Person who controls such holder (within the meaning of the Securities Act) against all losses, claims, damages, liabilities and expenses caused by any untrue or alleged untrue statement of material fact contained in any registration statement,
prospectus or preliminary prospectus or any amendment of such registration statement or supplement to such registration statement or any omission or alleged omission of a material fact required to be stated in such registration statement or
necessary to make the statements in such registration statement not misleading, except insofar as the same are caused by or contained in any information furnished in writing to the Company by such holder expressly for use in such registration
statement or by such holder’s failure to deliver to the purchaser a copy of the registration statement or prospectus or any amendments or supplements to such registration statement after the Company has furnished such 
  

 10 

 holder with copies of the same, in each case to the extent that such document was required to be delivered and the
damages, liabilities or expenses are caused by a failure to deliver such document. In connection with an underwritten offering, the Company will indemnify such underwriters, their officers and directors and each Person who controls such underwriters
(within the meaning of the Securities Act) to the same extent as provided above with respect to the indemnification of the holders of Registrable Securities. 
  
 (b) In connection with any registration statement in which a holder of Registrable Securities is participating, each such holder will furnish to the
Company in writing such information and affidavits (upon the reasonable request of the Company, in the form of an executed writing satisfactory the requirements set forth below in this Section 6(b)) as the Company reasonably requests for use
in connection with any such registration statement or prospectus and, to the extent permitted by law, will indemnify the Company, its directors and officers and each Person who controls the Company (within the meaning of the Securities Act) against
any losses, claims, damages, liabilities and expenses resulting from any untrue or alleged untrue statement of material fact contained in the registration statement, prospectus or preliminary prospectus or any amendment of such registration
statement or supplement to such registration statement or any omission or alleged omission of a material fact required to be stated in such registration statement or necessary to make the statements in such registration statement not misleading, but
only to the extent that such untrue statement or omission is contained in any information or affidavit so furnished in writing by such holder or on such holder’s behalf, in such holder’s capacity as a holder of Registrable Securities and
not in such holder’s capacity as a director or officer of the Company, if applicable, expressly for use therein; provided that the obligation to indemnify will be individual, not joint and several, for each holder and will be limited to
the net amount of proceeds received by such holder from the sale of Registrable Securities pursuant to the registration statement upon which the claim for indemnification is based. 
  
 (c) Any Person entitled to indemnification hereunder will (i) give prompt written notice to the indemnifying party of any
claim with respect to which it seeks indemnification (provided that the failure to give prompt notice will not impair any Person’s right to indemnification hereunder to the extent such failure has not prejudiced the indemnifying party)
and (ii) unless in such indemnified party’s reasonable judgment a conflict of interest between such indemnified and indemnifying parties may exist with respect to such claim, permit such indemnifying party to assume the defense of such claim
with counsel reasonably satisfactory to the indemnified party. If such defense is assumed, the indemnifying party will not be subject to any liability for any settlement made by the indemnified party without its consent (but such consent will not be
unreasonably withheld). An indemnifying party who is not entitled to, or elects not to, assume the defense of a claim will not be obligated to pay the fees and expenses of more than one law firm for all parties indemnified by such indemnifying party
with respect to such claim, unless in the reasonable judgment of any indemnified party a conflict of interest may exist between such indemnified party and any other of such indemnified parties with respect to such claim. 
  
 (d) The indemnification provided for under this Agreement will remain in full
force and effect regardless of any investigation made by or on behalf of the indemnified party or any officer, director or controlling Person of such indemnified party and will survive the transfer 
  

 11 

 of securities and the termination of this Agreement. No indemnifying party, in the defense of any such claim or
litigation, will, except with the consent of any indemnified party, consent to entry of any judgment or enter into any settlement which does not include as an unconditional term of such settlement a requirement that the claimant or plaintiff give to
such indemnified party a release from all liability in respect to such claim or litigation. 
  
 (e) If the indemnification provided for in this Section 6 is held by a court of competent jurisdiction to be unavailable to an indemnified party with respect to any losses, claims, damages or liabilities
referred to in this Agreement, each indemnifying party, in lieu of indemnifying such indemnified party thereunder, will, to the extent permitted by applicable law, contribute to the amount paid or payable by such indemnified party as a result of
such loss, claim, damage or liability in such proportion as is appropriate to reflect the relative fault of the indemnifying party on the one hand and of the indemnified party on the other in connection with the omissions or violations (or alleged
omissions or violations) which resulted in such loss, claim, damage or liability. The relative fault of the indemnifying party and of the indemnified party will be determined by a court of law by reference to, among other things, whether the untrue
or alleged untrue statement of a material fact or the omission to state a material fact relates to information supplied by the indemnifying party or by the indemnified party and the parties’ relative intent, knowledge, access to information and
opportunity to correct or prevent such statement or omission; provided, however, that in no event will any contribution by a holder hereunder exceed the net proceeds from the offering received by such holder less any amounts paid
pursuant to Section 6(b) above. The Company and each holder of Registrable Securities agrees that it would not be just and equitable if contribution pursuant to this Section 6(e) were determined by any method of allocation which does
not take into account the equitable considerations referred to in this Section 6(e). No Person guilty of fraudulent misrepresentation (within the meaning of subsection 11(f) of the Securities Act) will be entitled to contribution from any
Person who was not guilty of such fraudulent misrepresentation. 
  
 7. Participation in Underwritten Registrations. No Person may participate in any registration hereunder which is underwritten unless such Person (a) agrees to sell such Person’s securities on the basis provided in any
underwriting arrangements reasonably approved by the Person or Persons entitled hereunder to approve such arrangements and (b) completes and executes all questionnaires, powers of attorney, indemnities, underwriting agreements and other documents
that are standard and customary for similarly situated Persons and are reasonably required under the terms of such underwriting arrangements. 
  
 8. Rule 144; Rule 144A. 
  
 (a) If the Company will have filed a registration statement pursuant to Section 12 of the Securities Exchange Act or a registration statement pursuant to
the Securities Act, the Company will file the reports required to be filed by it under the Securities Act and the Securities Exchange Act with respect to Common Stock and the rules and regulations adopted by the Securities and Exchange Commission
thereunder and will use its commercially reasonable efforts to take such further action as any holder of Registrable Securities may reasonably request, all to the extent required from time to time to enable such holder to sell Registrable Securities
without registration under the Securities Act within the limitation of the exemptions provided by (a) Rule 144 or (b) any similar rule or regulation hereafter adopted by the Securities and 
  

 12 

 Exchange Commission. Upon the request of any holder of Registrable Securities, the Company will deliver to such holder a
written statement as to whether it has complied with such requirements. 
  
 (b) The Company represents and warrants that the Registrable Securities are not, and are not of the same class as any other securities, listed on a national securities exchange registered under Section 6 of the Securities Exchange Act or
quoted in an automated inter-dealer quotation system. For so long as the representations and warranties contained in the immediately preceding sentence remain accurate and any shares of Registrable Securities are restricted securities within the
meaning of Rule 144(a)(3) under the Securities Act, the Company covenants and agrees that it will, during any period in which it is not subject to Section 13 or 15(d) of the Securities Exchange Act, make available to any holder of Registrable
Securities in connection with the sale of such holder’s Registrable Securities and any prospective purchaser of Registrable Securities from such, in each case upon request, the information specified in, and meeting the requirements of, Rule
144A(d)(4) under the Securities Act. 
  
 9. Definitions.

  
 “415 Registration” has the meaning set forth
in Section 1(a) hereof. 
  
 “Affiliate”
means, as to any Person, any other Person which directly or indirectly controls, or is under common control with, or is controlled by, such Person. As used in this definition, “control” (including, with its correlative meanings,
“controlled by” and “under common control with”) shall mean possession, directly or indirectly, of power to direct or cause the direction of management or policies (whether through ownership of securities or partnership or other
ownership interests, by contract or otherwise). 
  
 “Agreement” has the meaning set forth in the first paragraph of this Agreement. 
  
 “AMP” means ABRY Mezzanine Partners, L.P., a Delaware limited partnership, and its Affiliates. 
  
 “Class A Common Units,” “Class B Common
Units,” “Class D Common Units” and “Class E Common Units” have the meanings set forth in the Operating Agreement, provided that such terms shall include any Equity Securities issued or issuable with
respect to any Class A Common Units, Class B Common Units, Class D Common Units and Class E Common Units by way of a distribution, stock dividend, stock split, conversion or in connection with a combination of shares, recapitalization, merger,
consolidation or other reorganization. 
  
 “Common
Stock” means the Common Stock of the Successor Corporation formed pursuant to Section 7 of the Members Agreement. 
  
 “Company” has the meaning set forth in the first paragraph of this Agreement, which meaning will include any Successor Corporation.

  
 “Company Registrable Securities” has the
meaning set forth in Section 4(c) hereof. 
  

 13 

 “Continuing Holder” means (i) Northwestern, at any time when Northwestern, together with
its Affiliates, holds either (A) Class A Common Units that constitute a majority of the Class A Common Units, or Class E Common Units that constitute a majority of the Class E Common Units, acquired by Northwestern on the date of this Agreement, (B)
Preferred Investor Registrable Securities that constitute a majority of the Common Stock issued pursuant to Section 7 of the Members Agreement in respect of the Class A Common Units acquired by Northwestern on the date of this Agreement or (C)
Preferred Investor Registrable Securities that constitute a majority of the Common Stock issued pursuant to Section 7 of the Members Agreement in respect of the Class E Common Units acquired by Northwestern on the date of this Agreement, or (ii) New
York Life, at any time when New York Life, together with its Affiliates, holds either (A) Class A Common Units that constitute a majority of the Class A Common Units, or Class E Common Units that constitute a majority of the Class E Common Units,
acquired by New York Life on the date of this Agreement, (B) Preferred Investor Registrable Securities that constitute a majority of the Common Stock issued pursuant to Section 7 of the Members Agreement in respect of the Class A Common Units
acquired by New York Life on the date of this Agreement or (C) Preferred Investor Registrable Securities that constitute a majority of the Common Stock issued pursuant to Section 7 of the Members Agreement in respect of the Class E Common Units
acquired by New York Life on the date of this Agreement. 
  
 “Demand Registrations” has the meaning set forth in Section 1(a) hereof. 
  
 “Equity Securities” of any Person means (i) any capital stock, partnership, membership, joint venture or other ownership or equity
interest, participation or securities in or of such Person (whether voting or non-voting, whether preferred, common or otherwise, and including any stock appreciation, contingent interest or similar right) and (ii) any option, warrant, security or
other right (including debt securities) directly or indirectly convertible into or exercisable or exchangeable for, or otherwise to acquire directly or indirectly, any stock, interest, participation or security described in clause (i) above.

  
 “Initial Public Offering” means the sale of
shares of Common Stock in an underwritten initial public offering registered under the Securities Act (other than on Form S-8 or Form S-4 or any comparable forms) that has been filed under the Securities Act and declared effective by the Securities
and Exchange Commission or any similar agency then having jurisdiction to enforce the Securities Act, other than a sale of Common Stock issued together with preferred stock or indebtedness of the Company or any of its Subsidiaries. 
  
 “Inspector” has the meaning set forth in Section 4(t)
hereof. 
  
 “Investor Registrable Securities”
means irrespective of which Person actually holds such securities, (i) any shares of Common Stock acquired by an Investor on or after the date of this Agreement in respect of such Investor’s Class A Common Units, Class B Common Units, Class D
Common Units or Class E Common Units, or Options or any Class A Common Units issued upon the exercise thereof, pursuant to Section 7 of the Members Agreement, and (ii) any shares of Common Stock issued or issuable with respect to the securities
referred to in clause (i) above by way of a distribution, stock dividend, stock split, conversion or in connection with a combination of shares, recapitalization, merger, consolidation or other reorganization; provided that no such share of
Common Stock will constitute an Investor Registrable Security at any time 
  

 14 

 when such share is or would be subject to repurchase by the Company at cost or the equivalent following the cessation of
employment of any individual. As to any particular Investor Registrable Securities: (x) such Investor Registrable Securities will cease to be Investor Registrable Securities for all purposes when they have been distributed to the public pursuant to
an offering registered under the Securities Act or sold to the public through a broker, dealer or market maker in compliance with Rule 144 (or any similar rule then in force) and (y) such Investor Registrable Securities will cease to be Investor
Registrable Securities for purposes of the first sentence of each of Section 1(a), Section 1(b), Section 1(c) and Section 1(d), and the holder of such Investor Registrable Securities will have no right to demand
registration of all or any portion of such Investor Registrable Securities pursuant to any such first sentence (A) on the date when the holder of such Investor Registrable Securities is able to sell all such securities in any three-month period
without registration pursuant to Rule 144 (or when such holder would otherwise be able to sell all such securities as of such date without registration pursuant to Rule 144 but for such holder being or having the right to designate a director of the
Company or being part of a “group” (as such term is used in Section 13(d)(3) of the Securities Exchange Act) with a Person who is such a director or who has such a right); provided that any security that ceases to be an Investor
Registrable Security by operation of this clause (y)(A) will again be deemed to be an Investor Registrable Security if a subsequent decrease in trading volume results in the holder thereof not being able to sell such securities during such period
without registration pursuant to Rule 144, or (B) on the date when the holder of such Investor Registrable Securities is able to sell all such securities without registration pursuant to Rule 144(k) under the Securities Act (or when such holder
would otherwise be able to sell all such securities as of such date without registration pursuant to Rule 144(k) under the Securities Act but for such holder being or having the right to designate a director of the Company or being part of a
“group” (as such term is used in Section 13(d)(3) of the Securities Exchange Act) with a Person who is such a director or who has such a right). For purposes of this Agreement, a Person will be deemed to be a holder of Investor Registrable
Securities whenever such Person has the right to acquire such Investor Registrable Securities (upon conversion or exercise or otherwise, but disregarding any restrictions or limitations upon the exercise of such right), whether or not such
acquisition has actually been effected. 
  
 “Investors” has the meaning set forth in the first paragraph of this Agreement. 
  
 “Long-Form Registrations” has the meaning set forth in Section 1(a) hereof. 
  
 “Members Agreement” means the Members Agreement, dated as of
the date of this Agreement, by and among the Company and its members and the option holders party thereto, as in effect from time to time. 
  
 “NASD” has the meaning set forth in Section 4(g) hereof. 
  
 “New York Life” means New York Life Capital Partners, L.P. 
  
 “Northwestern” means The Northwestern Mutual Life Insurance
Company. 
  

 15 

 “Operating Agreement” means the Company’s Amended and Restated Limited Liability
Company Operating Agreement, dated as of the date hereof, by and among the Company and its members and the option holders party thereto, as in effect from time to time. 
  
 “Options” has the meaning set forth in the Operating Agreement. 
  
 “Outside Preferred Investor Registrable Securities” means
the Preferred Investor Registrable Securities other than any Preferred Investor Registrable Securities owned by AMP or any of its Affiliates. 
  
 “Person” means an individual, a partnership, a joint venture, a corporation, a trust, a limited liability company, an unincorporated
organization or a government or any department or agency thereof. 
  
 “Piggyback Registration” has the meaning set forth in Section 2(a) hereof. 
  
 “Preferred Investor” means AMP, Northwestern, New York Life, Merrill Lynch Capital Corporation, or any of their respective Affiliates
(other than ABRY Partners IV, L.P.). 
  
 “Preferred
Investor Registrable Securities” means irrespective of which Person actually holds such securities, (i) any shares of Common Stock acquired by an Investor on or after the date of this Agreement pursuant to Section 7 of the Members Agreement
in respect of Class A Common Units or Class E Common Units issued to a Preferred Investor on the date hereof, and (ii) any shares of Common Stock issued or issuable with respect to the securities referred to in clause (i) above by way of a
distribution, stock dividend, stock split, conversion or in connection with a combination of shares, recapitalization, merger, consolidation or other reorganization. As to any particular Preferred Investor Registrable Securities: (x) such Preferred
Investor Registrable Securities will cease to be Preferred Investor Registrable Securities for all purposes when they have been distributed to the public pursuant to an offering registered under the Securities Act or sold to the public through a
broker, dealer or market maker in compliance with Rule 144 (or any similar rule then in force), and (y) such Preferred Investor Registrable Securities will cease to be Preferred Investor Registrable Securities for purposes of the first sentence of
each of Section 1(a), Section 1(b), Section 1(c) and Section 1(d) and the holder of such Preferred Investor Registrable Securities will have no right to demand any registration of all or any portion of such Preferred
Investor Registrable Securities pursuant to any such first sentence, (A) on the date when the holder of such Registrable Securities is able to sell all such securities in any three-month period without registration pursuant to Rule 144 (or when such
holder would otherwise be able to sell all such securities as of such date without registration pursuant to Rule 144 but for such holder being or having the right to designate a director of the Company or being part of a “group” (as such
term is used in Section 13(d)(3) of the Securities Exchange Act) with a Person who is such a director or who has such a right); provided that any security that ceases to be a Preferred Investor Registrable Security by operation of this clause
(y)(A) will again be deemed to be a Preferred Investor Registrable Security if a subsequent decrease in trading volume results in the holder thereof not being able to sell such securities during such period without registration pursuant to Rule 144,
or (B) on the date when the holder of such Preferred Investor Registrable Securities is able to sell all such securities without registration pursuant to Rule 144(k) under the Securities Act (or when such holder would 
  

 16 

 otherwise be able to sell all such securities as of such date without registration pursuant to Rule 144(k) under the
Securities Act but for such holder being or having the right to designate a director of the Company or being part of a “group” (as such term is used in Section 13(d)(3) of the Securities Exchange Act) with a Person who is such a director
or who has such a right). For purposes of this Agreement, a Person will be deemed to be a holder of Preferred Investor Registrable Securities whenever such Person has the right to acquire such Preferred Investor Registrable Securities (upon
conversion or exercise or otherwise, but disregarding any restrictions or limitations upon the exercise of such right), whether or not such acquisition has actually been effected. 
  
 “Records” has the meaning set forth in Section 4(t) hereof. 
  
 “Registrable Securities” means, collectively, the Investor
Registrable Securities and the Preferred Investor Registrable Securities. 
  
 “Registration Expenses” has the meaning set forth in Section 5(a) hereof. 
  
 “Rule 144” means Rule 144 promulgated under the Securities Act, as in effect from time to time. 
  
 “Securities Act” means the Securities Act of 1933, as
amended and in effect from time to time. 
  
 “Securities
Exchange Act” means the Securities Exchange Act of 1934, as amended and in effect from time to time. 
  
 “Short-Form Registrations” has the meaning set forth in Section 1(a) hereof. 
  
 “Subsidiaries” means, with respect to any Person:

  
 (a) any corporation a majority of the total voting power of
shares of stock of which is entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof is at the time owned or controlled, directly or indirectly, by that Person or one or more
of the other Subsidiaries of that Person or a combination thereof; or 
  
 (b) any partnership, limited liability company, association or other business entity a majority of the partnership or other similar ownership interest of which is at the time owned or controlled, directly or indirectly, by that Person or
one or more Subsidiaries of that Person or a combination thereof. 
  
 For purposes of this definition, a Person is deemed to have a majority ownership interest in a partnership, limited liability company, association or other business entity if such Person is allocated a majority of the gains or losses of
such partnership, limited liability company, association or other business entity or is or controls the managing director, managing member or general partner of such partnership, limited liability company, association or other business entity.

  

 17 

 “Successor Corporation” has the meaning set forth in Section 7 of the Members Agreement.

  
 “Takedown” has the meaning set forth in
Section 1(d)(ii) hereof. 
  
 10. Miscellaneous.

  
 (a) No Inconsistent Agreements. The Company will not
after the execution of this Agreement enter into any agreement with respect to its Equity Securities which is inconsistent with or violates the rights granted to the holders of Registrable Securities in this Agreement. 
  
 (b) Adjustments Affecting Registrable Securities. The Company will not
take any action, or permit any change to occur, with respect to its Equity Securities which would materially and adversely affect the ability of the holders of Registrable Securities to include such Registrable Securities in a registration
undertaken pursuant to this Agreement or which would materially and adversely affect the marketability of such Registrable Securities in any such registration (including effecting a stock split or a combination of shares). 
  
 (c) Remedies. Any Person having rights under any provision of this
Agreement will be entitled to enforce such rights specifically to recover damages caused by reason of any breach of any provision of this Agreement and to exercise all other rights granted by law. The parties hereto agree and acknowledge that money
damages may not be an adequate remedy for any breach of the provisions of this Agreement and that any party may in its sole discretion apply to any court of law or equity of competent jurisdiction (without posting any bond or other security) for
specific performance and for other injunctive relief in order to enforce or prevent violation of the provisions of this Agreement. 
  
 (d) Amendments and Waivers. Except as otherwise provided in this Agreement, the provisions of this Agreement may be amended or waived only upon the
prior written consent of the Company and holders of a majority of the Registrable Securities; provided that no such amendment or waiver will adversely affect the rights hereunder of any party hereto when compared with its effect on the other
similarly-situated parties to this Agreement without the prior written approval of a majority-in-interest of such adversely affected parties; provided, further, that no such amendment or waiver shall (i) increase the liability of the
holders of Preferred Investor Registrable Securities or Outside Preferred Investor Registrable Securities or (ii) modify (A) Section 2, Section 3, Section 4 or Section 6 hereof or (B) the terms of this Agreement with
respect to any Demand Registrations that may be initiated by the holders of Preferred Investor Registrable Securities or Outside Preferred Investor Registrable Securities (including the right to initiate any such registration), in the case of each
of clauses (ii)(A) and (ii)(B) above, in a manner adverse to such holders without the prior written consent of the holders of a majority of the Outside Preferred Investor Registrable Securities affected thereby (provided that such consenting
holders include at least one Continuing Holder, if either Northwestern or New York Life is then a Continuing Holder). 
  
 (e) Successors and Assigns. All covenants and agreements in this Agreement by or on behalf of any of the parties to this Agreement will bind and
inure to the benefit of the 
  

 18 

 respective successors and assigns of the parties to this Agreement whether so expressed or not. In addition, whether or
not any express assignment has been made, the provisions of this Agreement which are for the benefit of purchasers or holders of Registrable Securities are also for the benefit of, and enforceable by, any subsequent holder of such Registrable
Securities; ; provided that neither (a) the rights of Northwestern (or any of its Affiliates), in its capacity as a Continuing Holder, pursuant to Section 10(d) may be assigned (other than to an Affiliate of Northwestern), nor (b) the
rights of New York Life (or any of its Affiliates), in its capacity as a Continuing Holder, pursuant to Section 10(d) may be assigned (other than to an Affiliate of New York Life), in each case, without both the prior written consent of the
Company and the approval of the Board. 
  
 (f)
Severability. Whenever possible, each provision of this Agreement will be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Agreement is held to be prohibited by or invalid under
applicable law, such provision will be ineffective only to the extent of such prohibition or invalidity, without invalidating the remainder of this Agreement. 
  

(g) Counterparts. This Agreement may be executed in two or more counterparts, any one of which need not contain the signatures of more than one
party, but all such counterparts taken together will constitute one and the same Agreement. 
  
 (h) Descriptive Headings; Interpretation; No Strict Construction. The descriptive headings of this Agreement are inserted for convenience only and do not constitute a substantive part of this Agreement.
Whenever required by the context, any pronoun used in this Agreement will include the corresponding masculine, feminine or neuter forms, and the singular forms of nouns, pronouns, and verbs will include the plural and vice versa. Reference to any
agreement, document, or instrument means such agreement, document, or instrument as amended or otherwise modified from time to time in accordance with the terms of such agreement, document or instrument, and if applicable, of this Agreement. The use
of the words “include” or “including” in this Agreement will be by way of example rather than by limitation. The use of the words “or,” “either” or “any” will not be exclusive. The parties to this
Agreement have participated jointly in the negotiation and drafting of this Agreement. In the event an ambiguity or question of intent or interpretation arises, this Agreement will be construed as if drafted jointly by the parties to this Agreement,
and no presumption or burden of proof will arise favoring or disfavoring any party by virtue of the authorship of any of the provisions of this Agreement. The parties agree that prior drafts of this Agreement will be deemed not to provide any
evidence as to the meaning of any provision of this Agreement or the intent of the parties hereto with respect to this Agreement. 
  
 (i) GOVERNING LAW. ALL ISSUES AND QUESTIONS CONCERNING THE CONSTRUCTION, VALIDITY, INTERPRETATION AND ENFORCEMENT OF THIS AGREEMENT AND ANY
EXHIBITS AND SCHEDULES TO THIS AGREEMENT WILL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, WITHOUT GIVING EFFECT TO ANY CHOICE OF LAW OR CONFLICT OF LAW RULES OR PROVISIONS (WHETHER OF THE STATE OF NEW YORK OR
ANY OTHER JURISDICTION) THAT WOULD CAUSE THE APPLICATION OF THE LAWS OF ANY JURISDICTION OTHER THAN THE STATE OF NEW YORK. 
  

 19 

 (j) Notices. All communications or notices required or permitted by this Agreement will be in
writing and will be deemed to have been given (a) on the date of personal delivery to the recipient or an officer of the recipient, or (b) when sent by facsimile machine to the number shown below on the date of such confirmed facsimile transmission
(provided that a confirming copy is sent via overnight mail), or (c) when properly deposited for delivery by a nationally recognized commercial overnight delivery service, prepaid, or three business days after deposit in the United States mail,
certified or registered mail, postage prepaid, return receipt requested in each case, addressed as follows: 
  
 If to the Company, to: 
  
 Atlantic Broadband Group, LLC 
 c/o ABRY Partners, LLC 
 111 Huntington Avenue, 30th Floor 
 Boston, MA 02199

 Attention:        Jay Grossman 
 Facsimile:         (617) 859-8797 
  
 with copies (which will not constitute notice to the Company), to: 
  
 Kirkland & Ellis LLP 
 Citigroup Center 
 153 E. 53rd Street 
 New York, NY 10022 
 Attention:        John Kuehn, Esq. 
                           Armand A. Della Monica, Esq. 
 Facsimile:         (212) 446-4900 
  
 if to any Investor: 
  
 to the address specified for 
 such Investor in the books 
 and records of the Company 
  
 or to such other address or to the attention of such other person as the recipient party has
specified by prior written notice to the sending party. 
  
 (k)
Waiver of Jury Trial. EACH PARTY TO THIS AGREEMENT HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION, OR CAUSE OF ACTION (I) ARISING UNDER THIS AGREEMENT OR (II) IN ANY WAY
CONNECTED WITH OR RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO IN RESPECT OF THIS AGREEMENT OR ANY OF THE TRANSACTIONS RELATED HERETO, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER IN CONTRACT, TORT, EQUITY, OR
OTHERWISE. EACH PARTY TO THIS AGREEMENT HEREBY AGREES AND CONSENTS THAT ANY SUCH CLAIM, DEMAND, ACTION, OR 
  

 20 

 CAUSE OF ACTION WILL BE DECIDED BY COURT TRIAL WITHOUT A JURY AND THAT THE PARTIES TO THIS AGREEMENT MAY FILE AN ORIGINAL
COUNTERPART OR A COPY OF THIS AGREEMENT WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF THE PARTIES HERETO TO THE WAIVER OF THEIR RIGHT TO TRIAL BY JURY. 
  

(l) Transfer. Prior to transferring any shares of Common Stock (other than a transfer pursuant to which such shares of Common Stock cease to be
Registrable Securities) to any Person, the Person transferring such shares will cause the prospective transferee to execute and deliver to the Company (for itself and as the agent of the other Investors), a counterpart to this Agreement pursuant to
which the prospective transferee agrees to be bound by this Agreement to the same extent as the Person transferring such shares of Common Stock with respect to the shares of Common Stock so transferred. 
  
 (m) Entire Agreement. Except as otherwise expressly set forth in this
Agreement, this Agreement and the other agreements referred to in this Agreement embody the complete agreement and understanding among the parties to this Agreement with respect to the subject matter of this Agreement and supersedes and preempts any
prior understandings, agreements or representations by or among the parties, written or oral, which may have related to the subject matter of this Agreement in any way. 
  
 * * * * * 
  

 21 

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

					
	
	 ATLANTIC BROADBAND GROUP, LLC

		
	By:	 	 /s/    Edward T. Holleran        

	 	 	

	 	 	 Name:
	 	 Edward T. Holleran

	 	 	 Title:
	 	 Chief Operating Officer

  
 [SIGNATURES
CONTINUE ON NEXT PAGE] 

 Signature Page to Registration Rights Agreement 
  

					
	
	 ABRY PARTNERS IV, L.P.

		
	By:	 	 ABRY Capital Partners, L.P.,
 Its General Partner

		
	By:	 	 ABRY Capital Partners, LLC,
 Its General Partner

		
	By:	 	 /s/    Jay Grossman        

	 	 	

	 	 	 Name:
	 	 Jay Grossman

	 	 	 Title:
	 	 Vice President

	
	 ABRY INVESTMENT PARTNERSHIP, L.P.

		
	By:	 	 ABRY Investment GP, LLC

		
	By:	 	 /s/    Jay Grossman        

	 	 	

	 	 	 Name:
	 	 Jay Grossman

	 	 	 Title:
	 	 Vice President

	
	 ABRY MEZZANINE PARTNERS, L.P.

		
	By:	 	 ABRY Mezzanine Investors, L.P.,
 Its general partner

		
	By:	 	 ABRY Mezzanine Holdings LLC
 Its general partner

		
	By:	 	 /s/    Jay Grossman        

	 	 	

	 	 	 Name:
	 	 Jay Grossman

	 	 	 Title:
	 	 Vice President

 Signature Page to Registration Rights Agreement 
  

					
	
	OAK HILL CAPITAL MANAGEMENT PARTNERS, L.P.
		
	By:	 	 OHCP GenPar, L.P., its general partner

	By:	 	 OHCP MGP, L.L.C., its general partner

		
	By:	 	 /s/    Kevin G. Levy        

	 	 	

	 	 	 Name:
	 	 Kevin G. Levy

	 	 	 Title:
	 	 Vice President

	
	 OAKHILL CAPITAL PARTNERS, L.P.

		
	By:	 	 OHCP GenPar, L.P., its general partner

	By:	 	 OHCP MGP, L.L.C., its general partner

		
	By:	 	 /s/    Kevin G. Levy        

	 	 	

	 	 	 Name:
	 	 Kevin G. Levy

	 	 	 Title:
	 	 Vice President

	
	 OHCP ATLANTIC, L.L.C.

		
	By:	 	Oak Hill Capital Partners, L.P., its managing member
	By:	 	 OHCP GenPar, L.P., its general partner

	By:	 	 OHCP MGP, L.L.C., its general partner

		
	By:	 	 /s/    Kevin G. Levy        

	 	 	

	 	 	 Name:
	 	 Kevin G. Levy

	 	 	 Title:
	 	 Vice President

	
	THE BOARD OF TRUSTEES OF THE LELAND STANDFORD JUNIOR UNIVERSITY (DAPER 2)
		
	By:	 	 /s/    Georganne Perkins        

	 	 	

	 	 	 Name:
	 	 Georganne Perkins

	 	 	 Title:
	 	 Director, Private Equity

 Signature Page to Registration Rights Agreement 
  

					
	
	THE NORTHWESTERN MUTUAL LIFE INSURANCE COMPANY
		
	By:	 	 /s/    Mark E. Kishler        

	 	 	

	 	 	 Name:
	 	 Mark E. Kishler

	 	 	 Its:
	 	 Authorized Representative

	
	 MERRILL LYNCH CAPITAL CORPORATION

		
	By:	 	 /s/    Cécile Baker        

	 	 	

	 	 	 Name:
	 	 Cécile Baker

	 	 	 Title:
	 	 Vice President

	
	 NEW YORK LIFE CAPITAL PARTNERS, L.P.

		
	By:	 	 NYLCAP Manager LLC

	Its:	 	 Investment Manager

		
	By:	 	 /s/    J M. Barker, V        

	 	 	

	 	 	 Name:
	 	 James M. Barker, V

	 	 	 Title:
	 	 Vice President

	
	 GPSF SECURITIES, INC.

		
	By:	 	 /s/    Molly S. Fergusson        

	 	 	

	 	 	 Name:
	 	 Molly S. Fergusson

	 	 	 Title:
	 	 Vice President

 Signature Page to Registration Rights Agreement 
  

	
	
	 /s/    Edward T. Holleran        

	

	 Edward T. Holleran

	
	 /s/    David J. Keefe        

	

	 David J. Keefe

 Signature Page to Registration Rights Agreement 
  

	
	
	 /s/    Patrick Bratton        

	

	 Patrick Bratton

 Signature Page to Registration Rights Agreement 
  

	
	
	 /s/    Chris Daly        

	

	 Chris Daly

 Signature Page to Registration Rights Agreement 
  

	
	
	 /s/    David Dane        

	

	 David Dane

 Signature Page to Registration Rights Agreement 
  

	
	
	 /s/    Kevin Maguire        

	

	 Kevin Maguire

 Signature Page to Registration Rights Agreement 
  

	
	
	 /s/    Stephen Grossman        

	

	 Stephen Grossman

 Signature Page to Registration Rights Agreement 
  

	
	
	 /s/    Matthew Murphy        

	

	 Matthew Murphy

 Signature Page to Registration Rights Agreement 
  

	
	
	 /s/    Richard Shea        

	

	 Richard Shea

 Signature Page to Registration Rights Agreement 
  

	
	
	 /s/    Thomas Roundtree        

	

	 Thomas Roundtree

 Signature Page to Registration Rights Agreement 
  

	
	
	 /s/    Almis Kuolas        

	

	 Almis Kuolas

 Exhibit A 
  

JOINDER TO THE  
 REGISTRATION RIGHTS AGREEMENT 
  
 THIS
JOINDER (this “Joinder”) is made and entered into as of [                    ], by and between Atlantic Broadband
Group, LLC, a Delaware limited liability company (the “Company”), and [                    ]
(“Holder”). This Joinder joins Holder to the Registration Rights Agreement (the “Agreement”), dated as of March [    ], 2004, by and among the Company and each of the Investors (as
defined in the Agreement). Capitalized terms used in this Joinder but not otherwise defined have the meanings set forth in the Agreement. 
  
 WHEREAS, (i) Holder has acquired certain shares of Common Stock (or Equity Securities convertible, directly or indirectly, into shares of Common Stock),
(ii) the Company desires to grant to Holder certain registration rights in accordance with the terms of the Agreement and each of the Investors consents to the granting of such registration rights, and (iii) it is a condition to the transfer or
issuance to the Holder that Holder agrees to be bound by the terms of the Agreement. 
  
 NOW, THEREFORE, in consideration of the mutual covenants contained in this Joinder and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties to this Joinder
hereby agree as follows: 
  
 1. Agreement to be Bound.
Holder agrees that upon execution of this Joinder, Holder will become a party to the Agreement and will be fully bound by, and subject to all of the covenants, terms and conditions of the Agreement as though an original party to the Agreement and
the shares of Common Stock held by Holder will be deemed [Investor/Preferred Investor/Outside Preferred Investor] Registrable Securities for all purposes of the Agreement, subject to the terms and conditions contained in the Agreement. The
Company and each of the Investors agree that upon execution of this Agreement, the Common Stock held by Holder will be deemed [Investor/Preferred Investor/Outside Preferred] Registrable Securities for all purposes of the Agreement, subject to
the terms and conditions of the Agreement. 
  
 2. Successors
and Assigns. Except as otherwise provided in this Joinder, this Joinder will bind and inure to the benefit of and be enforceable by the Company and its successors and assigns and Holder and any subsequent holders of the shares of Common Stock
initially held by Holder and the respective successors and assigns of each of them, so long as they hold such shares. 
  
 3. Counterparts. This Joinder may be executed in separate counterparts each of which will be an original and all of which taken together will
constitute one and the same agreement. 
  
 4. Governing
Law. All questions concerning the construction, validity and interpretation of this Joinder will be governed by and construed in accordance with the domestic 
  

 A - 1 

 laws of the State of New York, without giving effect to any choice of law or conflict of law provision or rule (whether
of the State of New York or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of New York. 
  
 5. Descriptive Headings. The descriptive headings of this Joinder are inserted for convenience only and do not constitute a part of this Joinder.

  
 * * * * * 
  

 A - 2 

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

			
	ATLANTIC BROADBAND GROUP, LLC
		
	 By:
	 	  

	 	 	 Name:

	 	 	 Title:

  

 A - 3 

 Holder Signature Page: 
  

			
	Name:
		
	 By:
	 	  

	 	 	 Name:

	 	 	 Title:

	
	 Address:

	
	 Facsimile:

  

 A - 4

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