Document:

EX-10.6

 EXHIBIT 10.6 

REGISTRATION RIGHTS AGREEMENT 

by and among 
 the
Persons listed on Schedule A hereto under the heading AIP, 
 the Persons listed on Schedule A hereto under the heading JPM, 

the Persons listed on Schedule A hereto under the heading MANAGEMENT, 

ALLY COMMERCIAL FINANCE, LLC 

and 
 REV GROUP, INC.

 Dated as of [__], 2017 

 This REGISTRATION RIGHTS AGREEMENT is made as of [__], 2017, by and among REV Group, Inc.,
a Delaware corporation (the “Company”), the Persons listed on Schedule A hereto under the heading AIP (each, an “AIP Person” and, collectively, “AIP”), the Persons listed on Schedule A hereto under
the heading JPM (each, a “JPM Person” and, collectively, “JPM”), the Persons listed on Schedule A hereto under the heading Management (“Management”) [and Ally Commercial Finance, LLC
(“Ally”)]. 
 1.     Certain Definitions. As used herein, the following terms shall have the
following meanings: 
 “Additional Piggyback Rights” has the meaning set forth in Section 2.2(c). 

“Affiliate” means (a) with respect to any AIP Person or JPM Person, any Person directly or indirectly controlling or
controlled by or under direct or indirect common control with such specified Person, and includes any private equity investment fund the which is the primary investment advisor (or an Affiliate thereof) to such specified Person and (b) with
respect to any other Person, any Person directly or indirectly controlling or controlled by or under direct or indirect common control with such Person. It is understood and agreed that, for purposes hereof, (i) each AIP Person shall be deemed
to be an Affiliate of every other AIP Person, (ii) each JPM Person shall be deemed to be an Affiliate of every other JPM Person, (iii) neither the Company nor any subsidiary of the Company shall be deemed to be an Affiliate of any Holder,
and (iv) except as set forth in clauses (i) or (ii) above, no Holder shall be deemed to be an Affiliate of any other Holder. 

“Agreement” means this Registration Rights Agreement, as this agreement may be amended, modified, supplemented or restated
from time to time after the date hereof. 
 “AIP” has the meaning set forth in the preamble. 

“AIP Person” has the meaning set forth in the preamble and any subsequent Holder who is Assigned all, but not less than all,
of such AIP Person’s Registrable Securities in a single transaction in accordance with Section 4.5. 
 [“Ally” has the
meaning set forth in the preamble.] 
 “Assign” means to directly or indirectly sell, transfer, assign, distribute,
exchange, pledge, hypothecate, mortgage, grant a security interest in, encumber or otherwise dispose of Registrable Securities, whether voluntarily or by operation of law, including by way of a merger. “Assignor,”
“Assignee,” “Assigning” and “Assignment” have meanings corresponding to the foregoing. 

“automatic shelf registration statement” has the meaning set forth in Section 2.4. 

“Board” means the Board of Directors of the Company. 

 “Business Day” means any day other than a Saturday, Sunday or day on which
banking institutions in New York, New York are authorized or obligated by law or executive order to close. 
 “Carryover
Amount” for any Holder means, with respect to any registered offering in which such Holder elected not to participate after receipt of a notice under Section 2.2(a), a number of Registrable Securities equal to the number of Registrable
Securities then held by such Holder, multiplied by a fraction (expressed as a percentage), the numerator of which is equal to the number of Registrable Securities sold by the Holder that sold the most Registrable Securities in such offering
and the denominator of which is the number of Registrable Securities held by such Holder immediately prior to such offering. 

“Claims” has the meaning set forth in Section 2.9(a). 

“Company Shares” means common stock of the Company, par value $0.001 per share, and any and all securities of any kind
whatsoever of the Company that may be issued by the Company after the date hereof in respect of, in exchange for, or in substitution of, Company Shares, pursuant to any stock dividends, splits, reverse splits, combinations, reclassifications,
recapitalizations, reorganizations and the like occurring after the date hereof. 
 “Company Shares Equivalents” means all
options, warrants and other securities convertible into, or exchangeable or exercisable for (at any time or upon the occurrence of any event or contingency and without regard to any vesting or other conditions to which such securities may be
subject) Company Shares or other equity securities of the Company (including, without limitation, any note or debt security convertible into or exchangeable for Company Shares or other equity securities of the Company). 

“Company” means REV Group, Inc. and any successor thereto. 

“Demand Exercise Notice” has the meaning set forth in Section 2.1(a). 

“Demand Registration” has the meaning set forth in Section 2.1(a). 

“Demand Registration Request” has the meaning set forth in Section 2.1(a). 

“Exchange Act” means the Securities Exchange Act of 1934, as amended. 

“Expenses” means any and all fees and expenses incident to the Company’s performance of or compliance with Article 2,
including, without limitation: (i) SEC, stock exchange or FINRA registration and filing fees and all listing fees and fees with respect to the inclusion of securities on the New York Stock Exchange or on any other securities market on which the
Company Shares are listed or quoted, (ii) fees and expenses of compliance with state securities or “blue sky” laws and in connection with the preparation of a “blue sky” survey, including, without limitation, reasonable fees
and expenses of outside “blue sky” counsel, (iii) printing and copying expenses, (iv) messenger and delivery expenses, (v) expenses incurred in connection with any road 

  
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show, (vi) fees and disbursements of counsel for the Company, (vii) with respect to each registration, the fees and disbursements of one counsel for the Participating Holder(s)
(selected by the Majority Participating Holders), (viii) fees and disbursements of all independent public accountants (including the expenses of any audit and/or comfort letter and updates thereof) and fees and expenses of other Persons,
including special experts, retained by the Company, (ix) fees and expenses payable to any Qualified Independent Underwriter, (x) any other fees and disbursements of underwriters, if any, customarily paid by issuers or sellers of securities
(excluding, for the avoidance of doubt, any underwriting discount or spread) and (xi) expenses for securities law liability insurance and any rating agency fees. 

“FINRA” means the Financial Industry Regulatory Authority. 

“Fully-Diluted Basis” means, with respect to the Company Shares, all issued and outstanding Company Shares and all Company
Shares issuable in respect of securities convertible into or exchangeable for such Company Shares, all stock appreciation rights, options, warrants and other rights to purchase or subscribe for such Company Shares or securities convertible into or
exchangeable for such Company Shares, including any of the foregoing stock appreciation rights, options, warrants or other rights to purchase or subscribe for such Company Shares that are subject to vesting. 

“Holder” or “Holders” means the AIP Persons, the JPM Persons, [Ally,] Management or any transferee of
Registrable Securities to whom any Person who is a party to this Agreement shall Assign any rights hereunder in accordance with Section 4.5. 

“Initial Ownership” means, with respect to any Holder, the total number of shares of Company Shares “beneficially
owned” (as such term is defined in Rule 13d-3 of the Exchange Act without reference to clause (d)(1) of such Rule) (without duplication) by such Holder immediately after the closing of the IPO or, in the case of any Person that shall become a
party to this Agreement on a later date, as of such later date, in each case calculated on a Fully-Diluted Basis. For the avoidance of doubt, with respect to any Holder, Initial Ownership (a) shall give effect to, and therefore shall not
include, any Company Shares sold by such Holder in the IPO and (b) shall not include any Company Shares purchased by such Holder or any Affiliate thereof in an open market transaction following consummation of the IPO. 

“Initiating Holder(s)” has the meaning set forth in Section 2.1(a). 

“IPO” means the first underwritten public offering of the common stock of the Company to the general public pursuant to a
registration statement filed with the SEC completed on or about the date of this Agreement. 
 “JPM” has the meaning set
forth in the preamble. 
 “JPM Person” has the meaning set forth in the preamble and any subsequent Holder who is Assigned
all, but not less than all, of such JPM Person’s Registrable Securities in a single transaction in accordance with Section 4.5. 

  
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 “Litigation” means any action, proceeding or investigation in any court or
before any governmental authority. 
 “Lock-Up Agreement” means any agreement between the Company, or any of its
Affiliates, and any member of Management that provides for restrictions on the transfer of Registrable Securities held by such member of Management, including, without limitation, the restrictions on Transfer set forth in Section 4.7. 

“Majority Participating Holders” means (i) the Sponsor if it is participating in an offering of Registrable Securities
pursuant to Section 2.1 or Section 2.2 or (ii) otherwise, the Participating Holders holding more than 50% of the Registrable Securities proposed to be included in such offering. 

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

“Manager” has the meaning set forth in Section 2.1(c). 

“Participating Holders” means all Holders of Registrable Securities which are proposed to be included in any registration or
offering of Registrable Securities pursuant to Section 2.1 or Section 2.2. 
 “Partner Distribution” has the meaning set
forth in Section 2.1(b)(ii). 
 “Person” means any individual, corporation (including not-for-profit), general or limited
partnership, limited liability company, joint venture, estate, trust, association, organization, governmental entity or agency or other entity of any kind or nature. 

“Piggyback Shares” has the meaning set forth in Section 2.3(a)(iv). 

“Qualified Independent Underwriter” means a “qualified independent underwriter” within the meaning of FINRA Rule
5121. 
 “Registrable Securities” means any Company Shares held by the Holders at any time (including those held as a
result of the conversion or exercise of Company Shares Equivalents); provided that, as to any Registrable Securities held by a particular Holder, such securities shall cease to be Registrable Securities when (A) a registration statement
with respect to the sale of such securities shall have been declared effective under the Securities Act and such securities shall have been disposed of in accordance with such registration statement, or (B) (x) such securities are eligible
to be sold by such Holder in a single transaction in compliance with the requirements of Rule 144 under the Securities Act, as such Rule 144 may be amended (or any successor provision thereto) and (y) the Sponsor no longer beneficially owns (as
such term is defined in Rule 13d-3 of the Exchange Act without reference to clause (d)(1) of such Rule) (without duplication) in the aggregate a number of Company Shares equal to at least 15% of the then outstanding Company Shares. 

“Rule 144” and “Rule 144A” have the meaning set forth in Section 4.2. 

  
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 “SEC” means the U.S. Securities and Exchange Commission. 

“Section 2.3(a) Sale Number” has the meaning set forth in Section 2.3(a). 

“Section 2.3(b) Sale Number” has the meaning set forth in Section 2.3(b). 

“Section 2.3(c) Sale Number” has the meaning set forth in Section 2.3(c). 

“Securities Act” means the United States Securities Act of 1933, as amended, and any successor thereto, and any rules and
regulations promulgated thereunder, all as the same shall be in effect from time to time. 
 “Shareholders Agreement” means
the Amended and Restated Shareholders Agreement, dated as of the date hereof, by and among the Company and the other parties thereto. 

“Sponsor” means (i) American Industrial Partners Capital Fund IV, LP, (ii) American Industrial Partners Capital
Fund IV (Parallel), LP and (iii) AIP/CHC Holdings, LLC. 
 “Subsidiary” means any direct or indirect subsidiary of the
Company on the date hereof and any direct or indirect subsidiary of the Company organized or acquired after the date hereof. 

“Transfer” means, with respect to any Company Shares, (i) when used as a verb, to sell, assign, dispose of, exchange,
pledge, mortgage, encumber, hypothecate or otherwise transfer, in whole or in part, any of the economic consequences of ownership of such Company Shares, whether directly or indirectly, or agree or commit to do any of the foregoing and
(ii) when used as a noun, a direct or indirect sale, assignment, disposition, exchange, pledge, mortgage, encumbrance, hypothecation or other transfer, in whole or in part, of any of the economic consequences of ownership of such Company Shares
or any agreement or commitment to do any of the foregoing. For the avoidance of doubt, a transfer, sale, exchange, assignment, pledge, hypothecation or other encumbrance or other disposition of an interest in any Holder, or direct or indirect parent
thereof, all or substantially all of whose assets are, directly or indirectly, Company Shares shall constitute a “Transfer” of Company Shares for purposes of this Agreement. For the avoidance of doubt, a transfer, sale, exchange,
assignment, pledge, hypothecation or other encumbrance or other disposition of an interest in any Holder, or direct or indirect parent thereof, which has substantial assets in addition to Company Shares shall not constitute a “Transfer” of
Company Shares for purposes of this Agreement. For the avoidance of doubt, it is understood and agreed that any change in ownership of any general partner or management company of any of the AIP Persons shall not be deemed to be a
“Transfer” by the AIP Persons or any of their respective Affiliates. 
 “Valid Business Reason” has the meaning
set forth in Section 2.1(a)(v). 
 “WKSI” has the meaning set forth in Section 2.4. 

  
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 2.     Registration Rights.  

2.1.     Demand Registrations. (a) If the Company shall receive from either (i) the Sponsor or
(ii) any other Holder or group of Holders holding at least 50% of the then outstanding Company Shares, in either case at any time beginning 180 days after the closing of the IPO, a written request that the Company file a registration statement
with respect to Registrable Securities (a “Demand Registration Request,” and the registration so requested is referred to herein as a “Demand Registration,” and the sender(s) of such request pursuant to this
Agreement shall be known as the “Initiating Holder(s)”), then the Company shall, within five days of the receipt thereof, give written notice (the “Demand Exercise Notice”) of such request to all other Holders, and
subject to the limitations of this Section 2.1, use its reasonable best efforts to effect, as soon as practicable, the registration under the Securities Act (including, without limitation, by means of a shelf registration pursuant to Rule 415
thereunder if so requested and if the Company is then eligible to use such a registration) of all Registrable Securities that the Holders request to be registered. There is no limitation on the number of Demand Registrations pursuant to this
Section 2.1 which the Company is obligated to effect. However, the Company shall not be obligated to take any action to effect any Demand Registration: 

(i)     within three months after a Demand Registration pursuant to this Section 2.1 that has been declared
or ordered effective; 
 (ii)     during the period starting with the date 15 days prior to its good
faith estimate of the date of filing of, and ending on a date 90 days after the effective date of, a Company-initiated registration (other than a registration relating solely to the sale of securities to employees of the Company pursuant to a stock
option, stock purchase or similar plan or to an SEC Rule 145 transaction), provided that the Company is actively employing in good faith all reasonable efforts to cause such registration statement to become effective; 

(iii)     where the anticipated offering price, before any underwriting discounts or commissions and any
offering-related expenses, is equal to or less than $50,000,000; 
 (iv)     if the Company shall furnish
to such Holders a certificate signed by the Chief Executive Officer of the Company stating that in the good faith judgment of the Board, any registration of Registrable Securities should not be made or continued (or sales under a shelf registration
statement should be suspended) because (i) such registration (or continued sales under a shelf registration statement) would materially interfere with a material financing, acquisition, corporate reorganization or merger or other material
transaction or event involving the Company or any of its subsidiaries or (ii) the Company is in possession of material non-public information, the disclosure of which has been determined by the Board to not be in the Company’s best
interests (in either case, a “Valid Business Reason”), then (x) the Company may postpone filing a registration statement relating to a Demand Registration Request or suspend sales under an existing shelf registration statement
until five Business Days after such Valid Business Reason no longer exists, but in no event for more than 90 

  
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days after the date the Board determines a Valid Business Reason exists and (y) in case a registration statement has been filed relating to a Demand Registration Request, if the Valid
Business Reason has not resulted from actions taken by the Company, the Company may cause such registration statement to be withdrawn and its effectiveness terminated or may postpone amending or supplementing such registration statement until five
Business Days after such Valid Business Reason no longer exists, but in no event for more than 90 days after the date the Board determines a Valid Business Reason exists; and the Company shall give written notice to the Participating Holders of its
determination to postpone or withdraw a registration statement or suspend sales under a shelf registration statement and of the fact that the Valid Business Reason for such postponement, withdrawal or suspension no longer exists, in each case,
promptly after the occurrence thereof; provided, however, that the Company shall not defer its obligation in this manner for more than 90 days in any 12 month period; or 

(v)     in any particular jurisdiction in which the Company would be required to qualify to do business or
to execute a general consent to service of process in effecting such registration, qualification or compliance. 
 If the Company shall give any notice of
postponement, withdrawal or suspension of any registration statement pursuant to clause (iv) of this Section 2.1(a), the Company shall not, during the period of postponement, withdrawal or suspension, register any Company Shares, other
than pursuant to a registration statement on Form S-4 or S-8 (or an equivalent registration form then in effect). Each Holder of Registrable Securities agrees that, upon receipt of any notice from the Company that the Company has determined to
withdraw any registration statement pursuant to clause (iv) of this Section 2.1(a), such Holder will discontinue its disposition of Registrable Securities pursuant to such registration statement and, if so directed by the Company, will
deliver to the Company (at the Company’s expense) all copies, other than permanent file copies, then in such Holder’s possession of the prospectus covering such Registrable Securities that was in effect at the time of receipt of such
notice. If the Company shall have withdrawn or prematurely terminated a registration statement filed pursuant to a Demand Registration (whether pursuant to clause (iv) of this Section 2.1(a) or as a result of any stop order, injunction or
other order or requirement of the SEC or any other governmental agency or court), the Company shall not be considered to have effected an effective registration for the purposes of this Agreement until the Company shall have filed a new registration
statement covering the Registrable Securities covered by the withdrawn registration statement and such registration statement shall have been declared effective and shall not have been withdrawn. If the Company shall give any notice of withdrawal or
postponement of a registration statement, the Company shall, not later than five Business Days after the Valid Business Reason that caused such withdrawal or postponement no longer exists (but in no event later than 90 days after the date of the
postponement or withdrawal), use its reasonable best efforts to effect the registration under the Securities Act of the Registrable Securities covered by the withdrawn or postponed registration statement in accordance with Section 2.1 (unless the
Initiating Holders shall have withdrawn such request, in which case the Company shall not be considered to have effected an effective registration for the purposes of this Agreement), and such registration shall not be withdrawn or postponed
pursuant to clause (iv) of this Section 2.1(a). 

  
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 (b) 

(i)     The Company, subject to Sections 2.3 and 2.6, shall include in a Demand Registration (x) the
Registrable Securities of the Initiating Holders and (y) the Registrable Securities of any other Holder of Registrable Securities, which shall have made a written request to the Company for inclusion in such registration pursuant to Section 2.2
(which request shall specify the maximum number of Registrable Securities intended to be disposed of by such Participating Holder) within 30 days after the receipt of the Demand Exercise Notice (or 15 days if, at the request of the Initiating
Holders, the Company states in such written notice or gives telephonic notice to all Holders, with written confirmation to follow promptly thereafter, that such registration will be on a Form S-3). 

(ii)     The Company shall, as expeditiously as possible, but subject to the limitations set forth in this
Section 2.1, use its reasonable best efforts to (x) effect such registration under the Securities Act (including, without limitation, by means of a shelf registration pursuant to Rule 415 under the Securities Act if so requested and if the
Company is then eligible to use such a registration) of the Registrable Securities which the Company has been so requested to register, for distribution in accordance with such intended method of distribution, including a distribution to, and resale
by, the members or partners of a Holder (a “Partner Distribution”) and (y) if requested by the Majority Participating Holders, obtain acceleration of the effective date of the registration statement relating to such
registration. 
 (iii)     Notwithstanding anything contained herein to the contrary, the Company shall,
at the request of any Holder seeking to effect a Partner Distribution, file any prospectus supplement or post-effective amendments and otherwise take any action necessary to include therein all disclosure and language deemed necessary or advisable
by such Holder if such disclosure or language was not included in the initial registration statement, or revise such disclosure or language if deemed necessary or advisable by such Holder, including filing a prospectus supplement naming the Holders,
partners, members and shareholders to the extent required by law, to effect such Partner Distribution. 
 (c)     In
connection with any Demand Registration, the Majority Participating Holders shall have the right to designate the lead managing underwriter (any lead managing underwriter for the purposes of this Agreement, the “Manager”) in
connection with such registration and each other managing underwriter for such registration, in each case subject to consent of the Company, not be unreasonably withheld. 

(d)     If so requested by the Initiating Holder(s), the Company (together with all Holders proposing to distribute their
securities through such underwriting) shall enter into an underwriting agreement in customary form with the underwriter or underwriters selected for such underwriting by the Company in its sole discretion. 

  
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 (e)     Any Holder that intends to sell Registrable Securities by means of a
shelf registration pursuant to Rule 415 thereunder, shall give the Company two days’ prior notice of any such sale. 

2.2.     Piggyback Registrations. 

(a)     If, at any time or from time to time the Company will register or commence an offering of any of its securities
for its own account or otherwise (other than pursuant to registrations on Form S-4 or Form S-8 or any similar successor forms thereto) (including but not limited to the registrations or offerings pursuant to Section 2.1), the Company will: 

(i)     promptly give to each Holder written notice thereof (in any event within five Business Days); and

 (ii)     include in such registration and in any underwriting involved therein (if any), all the
Registrable Securities specified in a written request or requests, made within 20 days after mailing or personal delivery of such written notice from the Company, by any of the Holders, except as set forth in Sections 2.2(b) and 2.2(f), with the
securities which the Company at the time proposes to register or sell to permit the sale or other disposition by the Holders (in accordance with the intended method of distribution thereof) of the Registrable Securities to be so registered or sold,
including, if necessary, by filing with the SEC a post-effective amendment or a supplement to the registration statement filed by the Company or the prospectus related thereto. There is no limitation on the number of such piggyback registrations
pursuant to the preceding sentence which the Company is obligated to effect. No registration of Registrable Securities effected under this Section 2.2(a) shall relieve the Company of its obligations to effect Demand Registrations under Section 2.1
hereof. 
 (b)     If the registration in this Section 2.2 involves an underwritten offering, the right of any Holder to
include its Registrable Securities in a registration or offering pursuant to this Section 2.2 shall be conditioned upon such Holder’s participation in the underwriting and the inclusion of such Holder’s Registrable Securities in the
underwriting to the extent provided herein. All Holders proposing to distribute their Registrable Securities through such underwriting shall (together with the Company) enter into an underwriting agreement in customary form with the underwriter or
underwriters selected for such underwriting by the Company. 
 (c)     The Company, subject to 2.3 and 2.6, may elect to
include in any registration statement and offering pursuant to demand registration rights by any Person, (i) authorized but unissued shares of Company Shares or Company Shares held by the Company as treasury shares and (ii) any other
Company Shares which are requested to be included in such registration pursuant to the exercise of piggyback registration rights granted by the Company after the date hereof and which are not inconsistent with the rights granted in, or otherwise
conflict with the terms of, this Agreement (“Additional Piggyback Rights”); provided, however, that such inclusion shall be permitted only to the extent that it is pursuant to, and subject to, the terms of the
underwriting agreement or arrangements, if any, entered into by the Initiating Holders. 

  
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 (d)     If, at any time after giving written notice of its intention to
register or sell any equity securities and prior to the effective date of the registration statement filed in connection with such registration or sale of such equity securities, the Company shall determine for any reason not to register or sell or
to delay registration or sale of such equity securities, the Company may, at its election, give written notice of such determination to all Holders of record of Registrable Securities and (i) in the case of a determination not to register or
sell, shall be relieved of its obligation to register or sell any Registrable Securities in connection with such abandoned registration or sale, without prejudice, however, to the rights of Holders under Section 2.1, and (ii) in the case of a
determination to delay such registration or sale of its equity securities, shall be permitted to delay the registration or sale of such Registrable Securities for the same period as the delay in registering such other equity securities. 

(e)     Notwithstanding anything contained herein to the contrary, the Company shall, at the request of any Holder
(including to effect a Partner Distribution), file any prospectus supplement or post-effective amendments and otherwise take any action necessary to include therein all disclosure and language deemed necessary or advisable by such Holder if such
disclosure or language was not included in the initial registration statement, or revise such disclosure or language if deemed necessary or advisable by such Holder including filing a prospectus supplement naming the Holders, partners, members and
shareholders to the extent required by law. 
 (f)     Notwithstanding anything in this Agreement to the contrary, the
rights of each member of Management set forth in this Agreement shall be subject to any Lock-Up Agreement that such member of Management has entered into with the Company. 
  

	2.3.    	Allocation of Securities Included in Registration Statement or Offering. 

(a)     Subject to subsection (e) of this Section 2.3, but notwithstanding any other provision of this
Agreement, in connection with an underwritten offering initiated by a Demand Registration Request, if the Manager advises the Initiating Holders in writing that marketing factors require a limitation of the number of shares to be underwritten (such
number, the “Section 2.3(a) Sale Number”) within a price range acceptable to the Majority Participating Holders, the Initiating Holders shall so advise all Holders of Registrable Securities that would otherwise be underwritten
pursuant hereto, and the Company shall use its reasonable best efforts to include in such registration or offering, as applicable, the number of shares of Registrable Securities in the registration and underwriting as follows: 

(i)     first, all Registrable Securities requested to be included in such registration or offering by the
Holders thereof (including pursuant to the exercise of piggyback rights pursuant to Section 2.2); provided, however, that if such number of Registrable Securities exceeds the Section 2.3(a) Sale Number, the number of such
Registrable Securities (not to exceed the Section 2.3(a) Sale Number) to be included 

  
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in such registration shall be allocated among all such Holders requesting inclusion thereof in proportion, as nearly as practicable, to the respective amounts of Registrable Securities held by
such Holders at the time of filing of the registration statement or the time of the offering, as applicable, as adjusted to give effect to any Carryover Amount(s) for any such Holder; 

(ii)     second, if by the withdrawal of Registrable Securities by a Participating Holder, a greater number
of Registrable Securities held by other Holders, may be included in such registration or offering (up to the Section 2.3(a) Sale Number), then the Company shall offer to all Holders who have included Registrable Securities in the registration or
offering the right to include additional Registrable Securities in the same proportions as set forth in Section 2.3(a)(i). 

(iii)     third, to the extent that the number of Registrable Securities to be included pursuant to clause
(i) and (ii) of this Section 2.3(a) is less than the Section 2.3(a) Sale Number, and if the underwriter so agrees, any securities that the Company proposes to register or sell, up to the Section 2.3(a) Sale Number; and 

(iv)     fourth, to the extent that the number of securities to be included pursuant to clauses (i),
(ii) and (iii) of this Section 2.3(a) is less than the Section 2.3(a) Sale Number, the remaining securities to be included in such registration or offering shall be allocated on a pro rata basis among all Persons requesting that securities
be included in such registration or offering pursuant to the exercise of Additional Piggyback Rights (“Piggyback Shares”), based on the aggregate number of Piggyback Shares then owned by each Person requesting inclusion in relation
to the aggregate number of Piggyback Shares owned by all Persons requesting inclusion, up to the Section 2.3(a) Sale Number. 
 Notwithstanding anything in
this Section 2.3(a) to the contrary, no member of Management will be entitled to include Registrable Securities in a registration requested pursuant to Section 2.1 to the extent the Manager of such offering shall determine in good faith that the
participation of such member of Management would adversely affect the marketability of the securities being sold by the Initiating Holder(s) in such registration. 

(b)     Subject to subsection (e) of this Section 2.3, but notwithstanding any other provision of this
Agreement, in a registration involving an underwritten offering on behalf of the Company, which was initiated by the Company, if the Manager determines that marketing factors require a limitation of the number of shares to be underwritten (such
number, the “Section 2.3(b) Sale Number”) the Company shall so advise all Holders whose securities would otherwise be registered and underwritten pursuant hereto, and the number of shares of Registrable Securities that may be
included in the registration and underwriting shall be allocated as follows: 
 (i)     first, all equity
securities that the Company proposes to register for its own account; 

  
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 (ii)     second, to the extent that the number of securities
to be included pursuant to clause (i) of this Section 2.3(b) is less than the Section 2.3(b) Sale Number, among all Holders in proportion, as nearly as practicable, to the respective amounts of Registrable Securities requested for inclusion in
such registration by Holders pursuant to Section 2.2 up to the Section 2.3(b) Sale Number, as adjusted to give effect to any Carryover Amount(s) for any such Holder; and 

(iii)     third, to the extent that the number of securities to be included pursuant to clauses
(i) and (ii) of this Section 2.3(b) is less than the Section 2.3(b) Sale Number, the remaining securities to be included in such registration shall be allocated on a pro rata basis among all Persons requesting that securities be included
in such registration pursuant to the exercise of Additional Piggyback Rights, based on the aggregate number of Piggyback Shares then owned by each Person requesting inclusion in relation to the aggregate number of Piggyback Shares owned by all
Persons requesting inclusion, up to the Section 2.3(b) Sale Number. 
 (c)     Subject to subsection (e) of this
Section 2.3, if any registration pursuant to Section 2.2 involves an underwritten offering by any Person(s) other than a Holder to whom the Company has granted registration rights which are not inconsistent with the rights granted in, or
otherwise conflict with the terms of, this Agreement, the Manager (as selected by the Company or such other Person) shall advise the Company that, in its view, the number of securities requested to be included in such registration exceeds the number
(the “Section 2.3(c) Sale Number”) that can be sold in an orderly manner in such registration within a price range acceptable to the Company, the Company shall include shares in such registration as follows: 

(i)     first, the shares requested to be included in such registration shall be allocated on a pro rata
basis among such Person(s) requesting the registration and all Holders requesting that Registrable Securities be included in such registration pursuant to the exercise of piggyback rights pursuant to Section 2.2, based on the aggregate number of
securities or Registrable Securities, as applicable, then owned by each of the foregoing requesting inclusion in relation to the aggregate number of securities or Registrable Securities, as applicable, owned by all such Holders and Persons
requesting inclusion, up to the Section 2.3(c) Sale Number, as adjusted to give effect to any Carryover Amount(s) for any such Holder; 

(ii)     second, to the extent that the number of securities to be included pursuant to clause (i) of
this Section 2.3(c) is less than the Section 2.3(c) Sale Number, the remaining shares to be included in such registration shall be allocated on a pro rata basis among all Persons requesting that securities be included in such registration pursuant
to the exercise of Additional Piggyback Rights, based on the aggregate number of Piggyback Shares then owned by each Person requesting inclusion in relation to the aggregate number of Piggyback Shares owned by all Persons requesting inclusion, up to
the Section 2.3(c) Sale Number; and 
 (iii)     third, to the extent that the number of securities to be
included pursuant to clauses (i) and (ii) of this Section 2.3(c) is less than the Section 2.3(c) Sale Number, 

  
 13 

 
the remaining shares to be included in such registration shall be allocated to shares the Company proposes to register for its own account, up to the Section 2.3(c) Sale Number. 

(d)     If any Holder of Registrable Securities disapproves of the terms of the underwriting, or if, as a result of the
proration provisions set forth in clauses (a), (b) or (c) of this Section 2.3, any Holder shall not be entitled to include all Registrable Securities in a registration or offering that such Holder has requested be included, such Holder may
elect to withdraw such Holder’s request to include Registrable Securities in such registration or offering or may reduce the number requested to be included; provided, however, that (x) such request must be made in writing,
to the Company, Manager and, if applicable, the Initiating Holder(s), prior to the execution of the underwriting agreement with respect to such registration and (y) such withdrawal or reduction shall be irrevocable and, after making such
withdrawal or reduction, such Holder shall no longer have any right to include such withdrawn Registrable Securities in the registration as to which such withdrawal or reduction was made to the extent of the Registrable Securities so withdrawn or
reduced. 
 (e)     In any registration involving an underwritten offering in accordance with this Section 2.3,
under no circumstances shall the number of Registrable Securities owned by Management to be included in such registration exceed 25% of the total number of Registrable Securities to be included in such registration, without the written consent of a
majority of the Registrable Securities then held by the Sponsor. If such number of Registrable Securities owned by Management would so exceed 25%, then the number of Registrable Securities to be sold by Management shall be reduced, as nearly as
practicable, to the respective amounts of Registrable Securities requested by Management to be included in such offering, as adjusted to give effect to any Carryover Amount(s) for any Management Holder. 

2.4.     Registration Procedures. If and whenever the Company is required by the provisions of this Agreement to
use its reasonable best efforts to effect or cause the registration of any Registrable Securities under the Securities Act as provided in this Agreement, the Company shall, as expeditiously as possible (but, in any event, within 60 days after a
Demand Registration Request in the case of Section 2.4(a) below), in connection with the Registration of the Registrable Securities and, where applicable, a takedown off of a shelf registration statement: 

(a)     prepare and file with the SEC a registration statement on an appropriate registration form of the SEC for the
disposition of such Registrable Securities in accordance with the intended method of disposition thereof (including, without limitation, a Partner Distribution), which registration form (i) shall be selected by the Company and (ii) shall,
in the case of a shelf registration, be available for the sale of the Registrable Securities by the selling Holders thereof and such registration statement shall comply as to form in all material respects with the requirements of the applicable
registration form and include all financial statements required by the SEC to be filed therewith, and the Company shall use its reasonable best efforts to cause such registration statement to become effective and remain continuously effective from
the date such 

  
 14 

 
registration statement is declared effective until the earliest to occur (i) the first date as of which all of the Registrable Securities included in the registration statement have been
sold or (ii) a period of 90 days in the case of an underwritten offering effected pursuant to a registration statement other than a shelf registration statement and a period of three years in the case of a shelf registration statement
(provided, however, that before filing a registration statement or prospectus or any amendments or supplements thereto, or comparable statements under securities or state “blue sky” laws of any jurisdiction, or any free
writing prospectus related thereto, the Company will furnish to one counsel for the Holders participating in the planned offering (selected by the Majority Participating Holders) and to one counsel for the Manager, if any, copies of all such
documents proposed to be filed (including all exhibits thereto), which documents will be subject to the reasonable review and reasonable comment of such counsel (provided that the Company shall be under no obligation to make any changes
suggested by the Holders), and the Company shall not file any registration statement or amendment thereto, any prospectus or supplement thereto or any free writing prospectus related thereto to which the Majority Participating Holders or the
underwriters, if any, shall reasonably object); 
 (b)     prepare and file with the SEC such amendments and supplements
to such registration statement and the prospectus used in connection therewith as may be necessary to keep such registration statement continuously effective for the period set forth in Section 2.4(a) and to comply with the provisions of the
Securities Act with respect to the sale or other disposition of all Registrable Securities covered by such registration statement in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration
statement (and, in connection with any shelf registration statement, file one or more prospectus supplements covering Registrable Securities upon the request of one or more Holders wishing to offer or sell Registrable Securities whether in an
underwritten offering or otherwise); 
 (c)     in the event of any underwritten public offering, enter into and perform
its obligations under an underwriting agreement, in usual and customary form, with the Manager of such offering; 

(d)     furnish, without charge, to each Participating Holder and each underwriter, if any, of the securities covered by
such registration statement such number of copies of such registration statement, each amendment and supplement thereto (in each case including all exhibits), the prospectus included in such registration statement (including each preliminary
prospectus and any summary prospectus), any other prospectus filed under Rule 424 under the Securities Act and each free writing prospectus utilized in connection therewith, in each case, in conformity with the requirements of the Securities Act,
and other documents, as such seller and underwriter may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such seller (the Company hereby consenting to the use in accordance with
all applicable law of each such registration statement (or amendment or post-effective amendment thereto) and each such prospectus (or preliminary prospectus or supplement thereto) or free writing prospectus by each such Participating Holder and the
underwriters, if any, in connection with the offering and sale of the Registrable Securities covered by such registration statement or prospectus); 

  
 15 

 (e)     use its reasonable best efforts to register or qualify the
Registrable Securities covered by such registration statement under such other securities or state “blue sky” laws of such jurisdictions as any sellers of Registrable Securities or any managing underwriter, if any, shall reasonably request
in writing, and do any and all other acts and things which may be reasonably necessary or advisable to enable such sellers or underwriter, if any, to consummate the disposition of the Registrable Securities in such jurisdictions (including keeping
such registration or qualification in effect for so long as such registration statement remains in effect), except that in no event shall the Company be required to qualify to do business as a foreign corporation in any jurisdiction where it would
not, but for the requirements of this paragraph (e), be required to be so qualified, to subject itself to taxation in any such jurisdiction or to consent to general service of process in any such jurisdiction; 

(f)     promptly notify each Participating Holder and each managing underwriter, if any: (i) when the registration
statement, any pre-effective amendment, the prospectus or any prospectus supplement related thereto, any post-effective amendment to the registration statement or any free writing prospectus has been filed and, with respect to the registration
statement or any post-effective amendment, when the same has become effective; (ii) of any request by the SEC or state securities authority for amendments or supplements to the registration statement or the prospectus related thereto or for
additional information; (iii) of the issuance by the SEC of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings for that purpose; (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 state “blue sky” laws of any jurisdiction or the initiation of any proceeding for such purpose; (v) of the
existence of any fact of which the Company becomes aware which results in the registration statement or any amendment thereto, the prospectus related thereto or any supplement thereto, any document incorporated therein by reference, any free writing
prospectus or the information conveyed to any purchaser at the time of sale to such purchaser containing an untrue statement of a material fact or omitting to state a material fact required to be stated therein or necessary to make any statement
therein not misleading; and (vi) if at any time the representations and warranties contemplated by any underwriting agreement, securities sale agreement, or other similar agreement, relating to the offering shall cease to be true and correct in
all material respects; and, if the notification relates to an event described in clause (v), the Company shall promptly prepare and furnish to each such seller and each underwriter, if any, a reasonable number of copies of a prospectus supplemented
or amended so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to
make the statements therein in the light of the circumstances under which they were made not misleading; 
 (g)    
comply (and continue to comply) with all applicable rules and regulations of the SEC (including, without limitation, maintaining disclosure controls and procedures (as defined in Exchange Act Rule 13a-15(e)) and internal control over financial
reporting (as defined in Exchange Act Rule 13a-15(f)) in accordance with the Exchange Act), and make generally available to its security holders, as soon as reasonably practicable after 

  
 16 

 
the effective date of the registration statement (and in any event within 45 days, or 90 days if it is a fiscal year, after the end of such 12 month period described hereafter), an earnings
statement (which need not be audited) covering the period of at least 12 consecutive months beginning with the first day of the Company’s first fiscal quarter after the effective date of the registration statement, which earnings statement
shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder; 

(h)    (i) (A) cause all such Registrable Securities covered by such registration statement to be
listed on the principal securities exchange on which similar securities issued by the Company are then listed (if any), if the listing of such Registrable Securities is then permitted under the rules of such exchange, or (B) if no similar
securities are then so listed, to cause all such Registrable Securities to be listed on a national securities exchange and, without limiting the generality of the foregoing, take all actions that may be required by the Company as the issuer of such
Registrable Securities in order to facilitate the managing underwriter’s arranging for the registration of at least two market makers as such with respect to such shares with FINRA, and (ii) comply (and continue to comply) with the
requirements of any self-regulatory organization applicable to the Company, including without limitation all corporate governance requirements; 

(i)     provide and cause to be maintained a transfer agent and registrar for all such Registrable
Securities covered by such registration statement not later than the effective date of such registration statement; 

(j)     enter into such customary agreements (including, if applicable, an underwriting agreement) and
take such other actions as the Majority Participating Holders or the underwriters shall reasonably request in order to expedite or facilitate the disposition of such Registrable Securities (it being understood that the Holders of the Registrable
Securities which are to be distributed by any underwriters shall be parties to any such underwriting agreement and may, at their option, require that the Company make to and for the benefit of such Holders the representations, warranties and
covenants of the Company which are being made to and for the benefit of such underwriters); 
 (k)    
use its reasonable best efforts (i) to obtain an opinion from the Company’s counsel and a comfort letter and updates thereof from the Company’s independent public accountants who have certified the Company’s financial statements
included or incorporated by reference in such registration statement, in each case, in customary form and covering such matters as are customarily covered by such opinions and comfort letters (including, in the case of such comfort letter, events
subsequent to the date of such financial statements) delivered to underwriters in underwritten public offerings, which opinion and letter shall be dated the dates such opinions and comfort letters are customarily dated and otherwise reasonably
satisfactory to the underwriters, if any, and to the Majority Participating Holders, and (ii) furnish to each Holder participating in the offering and to each underwriter, if any, a copy of such opinion and letter addressed to such underwriter;

 (l)     deliver promptly to counsel for each Participating Holder and to each managing underwriter,
if any, copies of all correspondence between the SEC and the 

  
 17 

 
Company, its counsel or auditors and all memoranda relating to discussions with the SEC or its staff with respect to the registration statement, and, upon receipt of such confidentiality
agreements as the Company may reasonably request, make reasonably available for inspection by counsel for each Participating Holder, by counsel for any underwriter, participating in any disposition to be effected pursuant to such registration
statement and by any accountant or other agent retained by any Participating Holder or any such underwriter, all pertinent financial and other records, pertinent corporate documents and properties of the Company, and cause all of the Company’s
officers, directors and employees to supply all information reasonably requested by any such counsel for a Participating Holder, counsel for an underwriter, accountant or agent in connection with such registration statement; 

(m)     use its reasonable best efforts to obtain the prompt withdrawal of any order suspending the
effectiveness of the registration statement, or the prompt lifting of any suspension of the qualification of any of the Registrable Securities for sale in any jurisdiction; 

(n)     provide a CUSIP number for all Registrable Securities, not later than the effective date of the
registration statement; 
 (o)     use its best efforts to make available its employees and personnel for
participation in “road shows” and other marketing efforts and otherwise provide reasonable assistance to the underwriters (taking into account the needs of the Company’s businesses and the requirements of the marketing process) in
marketing the Registrable Securities in any underwritten offering; 
 (p)     prior to the filing of any
document which is to be incorporated by reference into the registration statement or the prospectus (after the initial filing of such registration statement), and prior to the filing of any free writing prospectus, provide copies of such document to
counsel for each Participating Holder and to each managing underwriter, if any, and make the Company’s representatives reasonably available for discussion of such document and make such changes in such document concerning the Participating
Holders prior to the filing thereof as counsel for the Participating Holders or underwriters may reasonably request; 

(q)     furnish to counsel for each Participating Holder and to each managing underwriter, without charge,
at least one signed copy of the registration statement and any post-effective amendments or supplements thereto, including financial statements and schedules, all documents incorporated therein by reference, the prospectus contained in such
registration statement (including each preliminary prospectus and any summary prospectus), any other prospectus filed under Rule 424 under the Securities Act and all exhibits (including those incorporated by reference) and any free writing
prospectus utilized in connection therewith; 
 (r)     cooperate with the Participating Holders and the
managing underwriter, if any, to facilitate the timely preparation and delivery of certificates not bearing any restrictive legends representing the Registrable Securities to be sold, and cause such 

  
 18 

 
Registrable Securities to be issued in such denominations and registered in such names in accordance with the underwriting agreement at least three Business Days prior to any sale of Registrable
Securities to the underwriters or, if not an underwritten offering, in accordance with the instructions of the Participating Holders at least three Business Days prior to any sale of Registrable Securities and instruct any transfer agent and
registrar of Registrable Securities to release any stop transfer orders in respect thereof; 
 (s)     cooperate with
any due diligence investigation by any Manager, underwriter or Participating Holder and make available such documents and records of the Company and its Subsidiaries that they reasonably request (which, in the case of the Participating Holder, may
be subject to the execution by the Participating Holder of a customary confidentiality agreement in a form which is reasonably satisfactory to the Company); 

(t)     take no direct or indirect action prohibited by Regulation M under the Exchange Act; 

(u)     take all such other commercially reasonable actions as are necessary or advisable in order to expedite or
facilitate the disposition of such Registrable Securities; 
 (v)     take all reasonable action to ensure that any free
writing prospectus utilized in connection with any registration covered by Section 2.1 or 2.2 complies in all material respects with the Securities Act, is filed in accordance with the Securities Act to the extent required thereby, is retained in
accordance with the Securities Act to the extent required thereby and, when taken together with the related prospectus, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements
therein, in light of the circumstances under which they were made, not misleading; and 
 (w)     in connection with any
underwritten offering, if at any time the information conveyed to a purchaser at the time of sale includes any untrue statement of a material fact or omits to state any material fact necessary in order to make the statements therein, in light of the
circumstances under which they were made, not misleading, promptly file with the SEC such amendments or supplements to such information as may be necessary so that the statements as so amended or supplemented will not, in light of the circumstances,
be misleading. 
 To the extent the Company is a well-known seasoned issuer (as defined in Rule 405 under the Securities Act) (a
“WKSI”) at the time any Demand Registration Request is submitted to the Company, and such Demand Registration Request requests that the Company file an automatic shelf registration statement (as defined in Rule 405 under the
Securities Act) (an “automatic shelf registration statement”) on Form S-3, the Company shall file an automatic shelf registration statement which covers those Registrable Securities which are requested to be registered. The
Company shall use its reasonable best efforts to remain a WKSI (and not become an ineligible issuer (as defined in Rule 405 under the Securities Act)) during the period during which the Registrable Securities remain Registrable Securities. If the
Company does not pay the filing fee 

  
 19 

 
covering the Registrable Securities at the time the automatic shelf registration statement is filed, the Company agrees to pay such fee at such time or times as the Registrable Securities are to
be sold. If the automatic shelf registration statement has been outstanding for at least three years, at the end of the third year the Company shall refile a new automatic shelf registration statement covering the Registrable Securities. If at any
time when the Company is required to re-evaluate its WKSI status the Company determines that it is not a WKSI, the Company shall use its reasonable best efforts to refile the shelf registration statement on Form S-3 and, if such form is not
available, Form S-1 and keep such registration statement effective during the period during which such registration statement is required to be kept effective. 

If the Company files any shelf registration statement for the benefit of the holders of any of its securities other than the Holders, the
Company agrees that it shall include in such registration statement such disclosures as may be required by Rule 430B under the Securities Act (referring to the unnamed selling security holders in a generic manner by identifying the initial offering
of the securities to the Holders) in order to ensure that the Holders may be added to such shelf registration statement at a later time through the filing of a prospectus supplement rather than a post-effective amendment. 

It shall be a condition precedent to the obligations of the Company to take any action pursuant to Sections 2.1, 2.2, or 2.4 that each
Participating Holder shall furnish to the Company such information regarding themselves, the Registrable Securities held by them, and the intended method of disposition of such securities as the Company may from time to time reasonably request so
long as such information is necessary for the Company to consummate such registration and shall be used only in connection with such registration. 

If any such registration statement or comparable statement under state “blue sky” laws refers to any Holder by name or otherwise as
the Holder of any securities of the Company, then such Holder shall have the right to require (i) the insertion therein of language, in form and substance satisfactory to such Holder and the Company, to the effect that the holding by such
Holder of such securities is not to be construed as a recommendation by such Holder of the investment quality of the Company’s securities covered thereby and that such holding does not imply that such Holder will assist in meeting any future
financial requirements of the Company, or (ii) in the event that such reference to such Holder by name or otherwise is not in the judgment of the Company, as advised by counsel, required by the Securities Act or any similar federal statute or
any state “blue sky” or securities law then in force, the deletion of the reference to such Holder. 

2.5.     Registration Expenses. All Expenses incurred in connection with any registration, filing,
qualification or compliance pursuant to Article 2 shall be borne by the Company, whether or not a registration statement becomes effective. All underwriting discounts and all selling commissions relating to securities registered by the Holders shall
be borne by the holders of such securities pro rata in accordance with the number of shares sold in the offering by such Participating Holder. 

  
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 2.6.    Certain Limitations on Registration Rights. In the case of any
registration under Section 2.1 pursuant to an underwritten offering, or, in the case of a registration under Section 2.2, all securities to be included in such registration shall be subject to the underwriting agreement and no Person may
participate in such registration or offering unless such Person (i) agrees to sell such Person’s securities on the basis provided therein and completes and executes all reasonable questionnaires, and other documents (including custody
agreements and powers of attorney) which must be executed in connection therewith; provided, however, that all such documents shall be consistent with the provisions hereof, and (ii) provides such other information to the Company
or the underwriter as may be necessary to register such Person’s securities. 
 2.7.    Limitations on Sale or
Distribution of Other Securities. 
 (a)    Each Holder agrees, (i) to the extent requested in writing by a
managing underwriter, if any, of any registration effected pursuant to Section 2.1, not to sell, transfer or otherwise dispose of, including any sale pursuant to Rule 144 under the Securities Act, any Company Shares, or any other equity
security of the Company or any security convertible into or exchangeable or exercisable for any equity security of the Company (other than as part of such underwritten public offering) during the time period reasonably requested by the managing
underwriter, not to exceed 90 days (and the Company hereby also so agrees (except that the Company may effect any sale or distribution of any such securities pursuant to a registration on Form S-4 (if
reasonably acceptable to such managing underwriter) or Form S-8, or any successor or similar form which is (x) then in effect or (y) shall become effective upon the conversion, exchange or
exercise of any then outstanding Company Shares Equivalent), to use its reasonable best efforts to cause each holder of any equity security or any security convertible into or exchangeable or exercisable for any equity security of the Company
purchased from the Company at any time other than in a public offering so to agree), and (ii) to the extent requested in writing by a managing underwriter of any underwritten public offering effected by the Company for its own account, not to
sell any Company Shares (other than as part of such underwritten public offering) during the time period reasonably requested by the managing underwriter, which period shall not exceed 90 days; and, if so requested, each Holder agrees to enter into
a customary lock-up agreement with such managing underwriter. 
 (b)    The Company hereby agrees that, if it shall
previously have received a request for registration pursuant to Section 2.1 or 2.2, and if such previous registration shall not have been withdrawn or abandoned, the Company shall not sell, transfer, or otherwise dispose of, any Company Shares, or
any other equity security of the Company or any security convertible into or exchangeable or exercisable for any equity security of the Company (other than as part of such underwritten public offering, a registration on Form S-4 or Form S-8 or any
successor or similar form which is (x) then in effect or (y) shall become effective upon the conversion, exchange or exercise of any then outstanding Company Shares Equivalent), until a period of 90 days shall have elapsed from the
effective date of such previous registration; and the Company shall (i) so provide in any registration rights agreements hereafter entered into with respect to any of its securities and (ii) use its reasonable best efforts to cause each
holder of any equity security or any security convertible into or exchangeable or exercisable for any equity security of the Company purchased from the Company at any time other than in a public offering to so agree. 

  
 21 

 2.8.    No Required Sale. Nothing in this Agreement shall be deemed to
create an independent obligation on the part of any Holder to sell any Registrable Securities pursuant to any effective registration statement. 

2.9.    Indemnification. 

(a)    In the event of any registration and/or offering of any securities of the Company under the Securities Act pursuant
to this Article 2, the Company will, and hereby agrees to, and hereby does, indemnify and hold harmless, to the fullest extent permitted by law, each Holder, its directors, officers, fiduciaries, employees, shareholders, members or general and
limited partners (and the directors, officers, fiduciaries, employees, shareholders, members or general and limited partners thereof), any underwriter (as defined in the Securities Act) for such Holder and each Person, if any, who controls such
Holder or underwriter within the meaning of the Securities Act or Exchange Act, from and against any and all losses, claims, damages or liabilities, joint or several, actions or proceedings (whether commenced or threatened) and expenses (including
reasonable fees of counsel and any amounts paid in any settlement effected with the Company’s consent, which consent shall not be unreasonably withheld or delayed) to which each such indemnified party may become subject under the Securities Act
or otherwise in respect thereof (collectively, “Claims”), insofar as such Claims arise out of or are based upon (i) any untrue statement or alleged untrue statement of a material fact contained in any registration statement
under which such securities were registered under the Securities Act or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) any untrue
statement or alleged untrue statement of a material fact contained in any preliminary or final prospectus or any amendment or supplement thereto, together with the documents incorporated by reference therein, or any free writing prospectus utilized
in connection therewith, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary in order to make the statements therein, in the light of the circumstances under which they were made, not
misleading, or (iii) any untrue statement or alleged untrue statement of a material fact in the information conveyed by the Company to any purchaser at the time of the sale to such purchaser, or the omission or alleged omission to state therein
a material fact required to be stated therein, or (iv) any violation by the Company of any federal, state or common law rule or regulation applicable to the Company and relating to action required of or inaction by the Company in connection
with any such registration, and the Company will reimburse any such indemnified party for any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such Claim as such expenses are
incurred; provided, however, that the Company shall not be liable to any such indemnified party in any such case to the extent such Claim arises out of or is based upon any untrue statement or alleged untrue statement of a material
fact or omission or alleged omission of a material fact made in such registration statement or amendment thereof or supplement thereto or in any such prospectus or any preliminary or 

  
 22 

 
final prospectus or free writing prospectus in reliance upon and in conformity with written information furnished to the Company by or on behalf of such indemnified party specifically for use
therein. Such indemnity and reimbursement of expenses shall remain in full force and effect regardless of any investigation made by or on behalf of such indemnified party and shall survive the transfer of such securities by such seller. 

(b)    Each Participating Holder shall, severally and not jointly, indemnify and hold harmless (in the same manner and to
the same extent as set forth in paragraph (a) of this Section 2.9) to the extent permitted by law the Company, its officers and directors, each Person controlling the Company within the meaning of the Securities Act, each underwriter (within
the meaning of the Securities Act) of the Company’s securities covered by such a registration statement, any Person who controls such underwriter, and any other Holder selling securities in such registration statement and each of its directors,
officers, partners or agents or any Person who controls such Holder with respect to any untrue statement or alleged untrue statement of any material fact in, or omission or alleged omission of any material fact from, such registration statement, any
preliminary or final prospectus contained therein, or any amendment or supplement thereto, or any free writing prospectus utilized in connection therewith, if such statement or alleged statement or omission or alleged omission was made in reliance
upon and in conformity with written information furnished to the Company or its representatives by or on behalf of such Participating Holder, specifically for use therein and reimburse such indemnified party for any legal or other expenses
reasonably incurred in connection with investigating or defending any such Claim as such expenses are incurred; provided, however, that the aggregate amount which any such Participating Holder shall be required to pay pursuant to this
Section 2.9(b) and 2.9(c) and (e) shall in no case be greater than the amount of the net proceeds actually received by such Participating Holder upon the sale of the Registrable Securities pursuant to the registration statement giving rise to
such Claim. The Company and each Participating Holder hereby acknowledge and agree that, unless otherwise expressly agreed to in writing by such Participating Holders to the contrary, for all purposes of this Agreement, the only information
furnished or to be furnished to the Company for use in any such registration statement, preliminary or final prospectus or amendment or supplement thereto or any free writing prospectus are statements specifically relating to (a) the beneficial
ownership of Company Shares by such Participating Holder and its Affiliates and (b) the name and address of such Participating Holder. Such indemnity and reimbursement of expenses shall remain in full force and effect regardless of any
investigation made by or on behalf of such indemnified party and shall survive the transfer of such securities by such Holder. 

(c)    Indemnification similar to that specified in the preceding paragraphs (a) and (b) of this Section 2.9
(with appropriate modifications) shall be given by the Company and each Participating Holder with respect to any required registration or other qualification of securities under any applicable securities and state “blue sky” laws. 

(d)    Any Person entitled to indemnification under this Agreement shall notify promptly the indemnifying party in writing
of the commencement of any action or proceeding with respect to which a claim for indemnification may be made pursuant to this Section 2.9, but the failure of any indemnified party to provide such notice shall not

  
 23 

 
relieve the indemnifying party of its obligations under the preceding paragraphs of this Section 2.9, except to the extent the indemnifying party is materially and actually prejudiced thereby and
shall not relieve the indemnifying party from any liability which it may have to any indemnified party otherwise than under this Article 2. In case any action or proceeding is brought against an indemnified party, the indemnifying party shall be
entitled to (x) participate in such action or proceeding and (y) unless, in the reasonable opinion of outside counsel to the indemnified party, a conflict of interest between such indemnified and indemnifying parties may exist in respect
of such claim, assume the defense thereof jointly with any other indemnifying party similarly notified, with counsel reasonably satisfactory to such indemnified party. The indemnifying party shall promptly notify the indemnified party of its
decision to assume the defense of such action or proceeding. If, and after, the indemnified party has received such notice from the indemnifying party, the indemnifying party shall not be liable to such indemnified party for any legal or other
expenses subsequently incurred by such indemnified party in connection with the defense of such action or proceeding other than reasonable costs of investigation; provided, however, that (i) if the indemnifying party fails to take
reasonable steps necessary to defend diligently the action or proceeding within 20 days after receiving notice from such indemnified party that the indemnified party believes it has failed to do so; or (ii) if such indemnified party who is a
defendant in any action or proceeding which is also brought against the indemnifying party reasonably shall have concluded that there may be one or more legal or equitable defenses available to such indemnified party which are not available to the
indemnifying party or which may conflict with those available to another indemnified party with respect to such Claim; or (iii) if representation of both parties by the same counsel is otherwise inappropriate under applicable standards of
professional conduct, then, in any such case, the indemnified party shall have the right to assume or continue its own defense as set forth above (but with no more than one firm of counsel for all indemnified parties in each jurisdiction, except to
the extent any indemnified party or parties reasonably shall have made a conclusion described in clause (ii) or (iii) above) and the indemnifying party shall be liable for any expenses therefor. No indemnifying party shall, without the
written consent of the indemnified party, effect the settlement or compromise of, or consent to the entry of any judgment with respect to, any pending or threatened action or claim in respect of which indemnification or contribution may be sought
hereunder (whether or not the indemnified party is an actual or potential party to such action or claim), unless such settlement or compromise (i) includes an unconditional release of such indemnified party from all liability on any claims that
are the subject matter of such action or claim and (ii) does not include a statement as to, or an admission of, fault, culpability or a failure to act by or on behalf of an indemnified party. The indemnity obligations contained in Sections
2.9(a) and 2.9(b) shall not apply to amounts paid in settlement of any such loss, claim, damage, liability or action if such settlement is effected without the consent of the indemnified party which consent shall not be unreasonably withheld. 

(e)    If for any reason the foregoing indemnity is held by a court of competent jurisdiction to be unavailable to an
indemnified party under Section 2.9(a), (b) or (c), then each applicable indemnifying party shall contribute to the amount paid or payable to such indemnified party as a result of any Claim in such proportion as is appropriate to reflect the
relative fault of the indemnifying party, on the one hand, and the indemnified party, 

  
 24 

 
on the other hand, with respect to such Claim as well as any other relevant equitable considerations. The relative fault shall 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 or alleged omission to state a material fact relates to information supplied by the indemnifying party or the indemnified party and the parties’ relative intent,
knowledge, access to information and opportunity to correct or prevent such untrue statement or omission. If, however, the allocation provided in the second preceding sentence is not permitted by applicable law, then each indemnifying party shall
contribute to the amount paid or payable by such indemnified party in such proportion as is appropriate to reflect not only such relative faults but also the relative benefits of the indemnifying party and the indemnified party as well as any other
relevant equitable considerations. The parties hereto agree that it would not be just and equitable if any contribution pursuant to this Section 2.9(e) were to be determined by pro rata allocation or by any other method of allocation which does not
take account of the equitable considerations referred to in the preceding sentences of this Section 2.9(e). The amount paid or payable in respect of any Claim shall be deemed to include any legal or other expenses reasonably incurred by such
indemnified party in connection with investigating or defending any such Claim. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11 (f) of the Securities Act) shall be entitled to contribution from any Person
who was not guilty of such fraudulent misrepresentation. Notwithstanding anything in this Section 2.9(e) to the contrary, no indemnifying party (other than the Company) shall be required pursuant to this Section 2.9(e) to contribute any amount
greater than the amount of the net proceeds actually received by such indemnifying party upon the sale of the Registrable Securities pursuant to the registration statement giving rise to such Claim, less the amount of any indemnification payment
made by such indemnifying party pursuant to Section 2.9(b) and (c). 
 (f)    The indemnity and contribution agreements
contained herein shall be in addition to any other rights to indemnification or contribution which any indemnified party may have pursuant to law or contract (except as set forth in subsection (h) below) and shall remain operative and in full
force and effect regardless of any investigation made or omitted by or on behalf of any indemnified party and shall survive the transfer of the Registrable Securities by any such party and the completion of any offering of Registrable Securities in
a registration statement. In the event one or more Holders effect a Partner Distribution pursuant to a registration statement in which the name of partners, members or shareholders who receive a distribution are named in a prospectus supplement or
registration statement, the partners, members or shareholders so named shall be entitled to indemnification and contribution by the Company to the same extent as a Holder hereunder. 

(g)    The indemnification and contribution required by this Section 2.9 shall be made by periodic payments of the amount
thereof during the course of the investigation or defense, as and when bills are received or expense, loss, damage or liability is incurred; provided, however, that the recipient thereof hereby undertakes to repay such payments if and
to the extent it shall be determined by a court of competent jurisdiction that such recipient is not entitled to such payment hereunder. 

  
 25 

 (h)    If a customary underwriting agreement shall be entered into in
connection with any registration pursuant to Section 2.1 or 2.2, the indemnity, contribution and related provisions set forth therein shall supersede the indemnification and contribution provisions set forth in this Section 2.9. 

3.    Underwritten Offerings. 

3.1.    Requested Underwritten Offerings. If the Initiating Holders request an underwritten offering pursuant to a
registration under Section 2.1 (pursuant to a request for a registration statement to be filed in connection with a specific underwritten offering or a request for a shelf takedown in the form of an underwritten offering), the Company shall enter
into a customary underwriting agreement with the underwriters. Such underwriting agreement shall (i) be satisfactory in form and substance to the Majority Participating Holders, (ii) contain terms not inconsistent with the provisions of
this Agreement and (iii) contain such representations and warranties by, and such other agreements on the part of, the Company and such other terms as are generally prevailing in agreements of that type, including, without limitation,
indemnities and contribution agreements on substantially the same terms as those contained herein (it being understood that an underwriting agreement in substantially the form of the underwriting agreement for the IPO shall be deemed to satisfy the
foregoing requirements). Any Participating Holder shall be a party to such underwriting agreement and may, at its option, require that any or all of the representations and warranties by, and the other agreements on the part of, the Company to and
for the benefit of such underwriters shall also be made to and for the benefit of such Participating Holder and that any or all of the conditions precedent to the obligations of such underwriters under such underwriting agreement be conditions
precedent to the obligations of such Participating Holder; provided, however, that the Company shall not be required to make any representations or warranties with respect to written information specifically provided by a Participating
Holder for inclusion in the registration statement. Each such Participating Holder shall not be required to make any representations or warranties to or agreements with the Company or the underwriters other than representations, warranties or
agreements regarding such Participating Holder, its ownership of and title to the Registrable Securities, any written information specifically provided by such Participating Holder for inclusion in the registration statement and its intended method
of distribution; and any liability of such Participating Holder to any underwriter or other Person under such underwriting agreement shall be limited to the amount of the net proceeds received by such Holder upon the sale of the Registrable
Securities pursuant to the registration statement and shall be limited to liability for written information specifically provided by such Participating Holder. 

3.2.    Piggyback Underwritten Offerings. In the case of a registration pursuant to Section 2.2 which involves an
underwritten offering, the Company shall enter into an underwriting agreement in connection therewith and all of the Participating Holders’ Registrable Securities to be included in such registration shall be subject to such underwriting
agreement. Any Participating Holder may, at its option, require that any or all of the representations and warranties by, and the other agreements on the part of, the Company to and for the benefit of such underwriters shall also be made to and for
the benefit of such Participating Holder and that any or all of the conditions precedent to the 

  
 26 

 
obligations of such underwriters under such underwriting agreement be conditions precedent to the obligations of such Participating Holder; provided, however, that the Company shall
not be required to make any representations or warranties with respect to written information specifically provided by a Participating Holder for inclusion in the registration statement. Each such Participating Holder shall not be required to make
any representations or warranties to or agreements with the Company or the underwriters other than representations, warranties or agreements regarding such Participating Holder, its ownership of and title to the Registrable Securities, any written
information specifically provided by such Participating Holder for inclusion in the registration statement and its intended method of distribution; and any liability of such Participating Holder to any underwriter or other Person under such
underwriting agreement shall be limited to the amount of the net proceeds received by such Participating Holder upon the sale of the Registrable Securities pursuant to the registration statement and shall be limited to liability for written
information specifically provided by such Participating Holder. 
 4.    General. 

4.1.    Adjustments Affecting Registrable Securities. The provisions of this Agreement shall apply, to the full
extent set forth herein with respect to the Registrable Securities, to any and all shares of capital stock of the Company or any successor or assign of the Company (whether by merger, share exchange, consolidation, sale of assets or otherwise) which
may be issued in respect of, in exchange for or in substitution of, Registrable Securities and shall be appropriately adjusted for any stock dividends, splits, reverse splits, combinations, recapitalizations and the like occurring after the date
hereof. 
 4.2.    Rule 144 and Rule 144A. If the Company shall have filed a registration statement pursuant to
the requirements of Section 12 of the Exchange Act or a registration statement pursuant to the requirements of the Securities Act in respect of the Company Shares or Company Shares Equivalents, the Company covenants that (i) so long as it
remains subject to the reporting provisions of the Exchange Act, it will timely file the reports required to be filed by it under the Securities Act or the Exchange Act (including, but not limited to, the reports under Sections 13 and 15(d) of the
Exchange Act referred to in subparagraph (c)(1) of Rule 144 under the Securities Act, as such Rule may be amended (“Rule 144”)) or, if the Company is not required to file such reports, it will, upon the request of any Holder, make
publicly available other information so long as necessary to permit sales by such Holder under Rule 144, Rule 144A under the Securities Act, as such Rule may be amended (“Rule 144A”), or any similar rules or regulations hereafter
adopted by the SEC, and (ii) it will take such further action as any Holder 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, (B) Rule 144A or (C) any similar rule or regulation hereafter adopted by the SEC. Upon the request of any Holder of Registrable Securities, the Company will deliver to
such Holder a written statement by the Company that it has complied with the reporting requirements of Rule 144, the Securities Act and the Exchange Act (at any time after it has become subject to such reporting requirements), or that it qualifies
as a registrant whose securities may be resold 

  
 27 

 
pursuant to Form S-3 (at any time after it so qualifies), a copy of the most recent annual or quarterly report of the Company and such other reports and documents so filed by the Company and such
other information as may be reasonably requested in availing any Holder of any rule or regulation of the SEC which permits the selling of any such securities without registration or pursuant to such form. 

4.3.    Amendments and Waivers; Termination. Any provision of this Agreement may be amended and the observance
thereof may be waived (either generally or in a particular instance and either retroactively or prospectively) only with the written consent of the Company and a majority of the Registrable Securities then held by (i) the Sponsor or
(ii) the Holders if the Sponsor no longer beneficially owns (as such term is defined in Rule 13d-3 of the Exchange Act without reference to clause (d)(1) of such Rule) (without duplication) in the aggregate a number of Company Shares equal to
at least 15% of the then outstanding Company Shares; provided that any amendment or waiver that results in a non-pro rata material adverse effect on the rights of JPM, Management [or Ally] vis-à-vis the rights of the Sponsor under this
Agreement will require the written consent of JPM, Management holding a majority of the Registrable Securities then held by all Management [or Ally], as the case may be. Any amendment or waiver effected in accordance with this Section 4.3 shall be
binding upon each Holder and the Company. Any waiver of any breach or default by any other party of any of the terms of this Agreement effected in accordance with this Section 4.3 shall not operate as a waiver of any other breach or default, whether
similar to or different from the breach or default waived. No waiver of any provision of this Agreement shall be implied from any course of dealing between the parties hereto or from any failure by any party to assert its or his or her rights
hereunder on any occasion or series of occasions. This Agreement will terminate as to any Holder when it no longer holds any Registrable Securities. 

4.4.    Notices. Unless otherwise specified herein, all notices, consents, approvals, reports, designations,
requests, waivers, elections and other communications authorized or required to be given pursuant to this Agreement shall be in writing and shall be given, made or delivered (and shall be deemed to have been duly given, made or delivered upon
receipt) by personal hand-delivery, by facsimile transmission, by electronic mail, by mailing the same in a sealed envelope, registered first-class mail, postage prepaid, return receipt requested, or by air courier guaranteeing overnight delivery,
addressed to the Company at the address set forth below or to the applicable Holder at the address indicated on Schedule A hereto (or at such other address for a Holder as shall be specified by like notice): 

 

			
	REV Group, Inc.
	1441 Brickell Avenue, Suite 1007
	Miami, FL 33131
	Attention: Pamela S. Krop
	Facsimile No.: (305) 374-0098
	E-mail: pam.krop@revgroup.com

  
 28 

			
	 with copies to:
  

	Davis Polk & Wardwell LLP
	450 Lexington Avenue
	New York, New York 10017
	Attention:	  	Richard D. Truesdell, Jr.
		  	Derek J. Dostal
	Facsimile No.:	  	(212) 701-5674
		  	(212) 701-5322
	E-mail:	  	richard.truesdell@davispolk.com
		  	derek.dostal@davispolk.com

 4.5. Successors and Assigns. 

(a)    This Agreement shall inure to the benefit of and be binding upon the parties hereto and their respective heirs,
successors, legal representatives and permitted assigns. 
 (b)    A Holder may Assign his, her or its rights under this
Agreement without the Company’s consent to an Assignee of Registrable Securities which (i) is with respect to any Holder, the spouse, parent, sibling, child, step-child or grandchild of such Holder, or the spouse thereof and any trust,
limited liability company, limited partnership, private foundation or other estate planning vehicle for such Holder or for the benefit of any of the foregoing or other persons pursuant to the laws of descent and distribution, or (ii) is a
legatee, executor or other fiduciary pursuant to a last will and testament of the Holder or pursuant to the terms of any trust which take effect upon the death of the Holder. In addition, any Holder may Assign his, her or its rights under this
Agreement without the Company’s prior written consent so long as such Assignment (i) occurs in connection with the transfer of all, but not less than all, of such Holder’s Registrable Securities in a single transaction (to the extent
such transfer is otherwise permissible under Section 4.7) in the case of such an Assignment by a Holder other than the Sponsor and (ii) results in the Assignee holding not less than 5% of the outstanding shares of Company Shares at the
time of such transfer. Subject to subsection (c) below, any Assignment shall be conditioned upon prior written notice to the Company identifying the name and address of such Assignee and any other material information as to the identity of such
Assignee as may be reasonably requested, and Schedule A hereto shall be updated to reflect such Assignment. 

(c)    Notwithstanding anything to the contrary contained in this Section 4.5, any Holder may elect to transfer all or a
portion of its Registrable Securities to any third party (to the extent such transfer is otherwise permissible under Section 4.7) without Assigning its rights hereunder with respect thereto, provided that in any such event all rights
under this Agreement with respect to the Registrable Securities so transferred shall cease and terminate. 
 4.6. Limitations on
Subsequent Registration Rights. From and after the effective date of the first registration statement filed by the Company for the offering of its securities to the general public, the Company may, without the prior written consent of the
Holders, enter into any agreement with any holder or prospective holder of any 

  
 29 

 
securities of the Company which provides such holder or prospective holder of securities of the Company comparable, but not more favorable or conflicting, information and registration rights
granted to the Holders hereby. 
 4.7. Restrictions on Transfer. 

(a)    Each Holder agrees that it shall not Transfer any Initial Ownership Company Shares (or solicit any offers in
respect of any Transfer of any Initial Ownership Company Shares), except in compliance with the Securities Act, any other applicable securities or “blue sky” laws, and the terms and conditions of this Agreement. 

(b)    Any attempt by any Holder to Transfer any Initial Ownership Company Shares not in compliance with this Agreement
shall be null and void, and the Company shall not, and shall cause any transfer agent not to, give any effect in the Company’s register of members or branch register to such attempted Transfer. 

(c)    In addition to any other legend that may be required, each certificate (whether in book-entry form or otherwise)
for Initial Ownership Company Shares issued to any Holder shall bear a legend in substantially the following form: 
 THIS SECURITY HAS NOT
BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED, OR ANY NON-U.S. OR STATE SECURITIES LAWS AND MAY NOT BE OFFERED, SOLD, PLEDGED, MORTGAGED OR OTHERWISE TRANSFERRED EXCEPT IN COMPLIANCE THEREWITH. THIS SECURITY IS ALSO SUBJECT TO
ADDITIONAL RESTRICTIONS ON TRANSFER AS SET FORTH IN THE REGISTRATION RIGHTS AGREEMENT DATED AS OF [ ], 2017, COPIES OF WHICH MAY BE OBTAINED UPON REQUEST FROM REV GROUP, INC. OR ANY SUCCESSOR THERETO. 

(d)    If any Initial Ownership Company Shares shall cease to be Registrable Securities under clause (A) of the
definition thereof, the Company, upon the written request of the Holder, shall cause any transfer agent to issue in book-entry form to such Holder (or its transferee) a new certificate evidencing such Initial Ownership Company Shares without the
first sentence and the words “ALSO” and “ADDITIONAL” in the second sentence of the legend required by subsection (c) of this Section 4.7 endorsed thereon. In addition, if any Initial Ownership Company Shares cease to be
Registrable Securities under clause (B) of the definition thereof or cease to be subject to any and all restrictions on Transfer set forth in this Agreement, then, in either case, the Company, upon the written request of the Holder thereof,
shall cause any transfer agent to issue in book-entry form to such Holder (or its transferee) a new certificate evidencing such Initial Ownership Company Shares without the second sentence of the legend required by Section 4.7(c) endorsed
thereon. 
 (e)    Without the written consent of a majority of the Registrable Securities held by the Sponsor, no
Holder shall Transfer any of its Initial Ownership Company Shares that constitute Registrable Securities, except (i) to one or more of Assignees in 

  
 30 

 
accordance with the second sentence of Section 4.5(b), (ii) in an offering or sale in connection with the exercise of its rights under, and in accordance with, Section 2.1 or 2.2
or (iii) in connection with the sale of its Company Shares (if any) in the IPO; provided that, if the Sponsor Transfers any of its Initial Ownership Company Shares that constitute Registrable Securities in a private transaction in
accordance with the second sentence of Section 4.5(b), then the Sponsor shall (A) be deemed, upon completion of such transaction, to have given its written consent to the Transfer of a number of Initial Ownership Company Shares that constitute
Registrable Securities then held by each JPM Person in an amount equal to the product of (x) such number of Initial Ownership Company Shares and (y) a percentage, the numerator of which is the number of Initial Ownership Company Shares being
Transferred by the Sponsor and the denominator of which is the number of Initial Ownership Company Shares held by the Sponsor prior to such Transfer, and (B) give each JPM Person notice prior to the completion of such Transfer of the date on which
the Transfer will be completed and the number of Initial Ownership Company Shares that such JPM Person may Transfer pursuant to the calculation in clause (A) above. The foregoing restriction shall cease to apply to each JPM Person after five years
from the date of this Agreement. 
 (f)    Each Holder shall give the Company prompt written notice of any transactions
in the Initial Ownership Company Shares in reliance on this Section 4.7. 
 4.8.    Entire Agreement. This
Agreement, the Shareholders Agreement and the other agreements referenced herein and therein constitute the entire agreement among the parties hereto with respect to the subject matter hereof, and supersede any prior agreement or understanding among
them with respect to the matters referred to herein. 
 4.9.    Governing Law; Waiver of Jury Trial;
Jurisdiction. 
 (a)    Governing Law. This Agreement is governed by and will be construed in accordance with
the laws of the State of New York, excluding any conflict-of-laws rule or principle (whether of New York or any other jurisdiction) that might refer the governance or the construction of this Agreement to the law of another jurisdiction. 

(b)    Waiver of Jury Trial. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVE ALL RIGHT TO TRIAL BY JURY IN ANY
ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE ACTIONS OF THE PARTIES HERETO IN THE NEGOTIATION, ADMINISTRATION, PERFORMANCE AND ENFORCEMENT THEREOF. The Company
or any Holder may file an original counterpart or a copy of this Section 4.9(b) with any court as written evidence of the consent of any of the parties hereto to the waiver of their rights to trial by jury. 

(c)    Jurisdiction. Each of the parties hereto (i) consents to submit itself to the personal jurisdiction of
the courts of the State of New York located in the county and city of New York in the event any dispute arises out of this Agreement or any of the transactions contemplated by this Agreement, (ii) agrees that it will not attempt to deny or
defeat such personal jurisdiction by motion or other request for leave from such court, (iii) agrees that it will not bring any action relating to this Agreement or any of the transactions contemplated by this Agreement in any court other than
the courts of the State of New York located in the county and city of New York and (iv) to the fullest extent permitted by law, consents to service being made through the notice procedures set forth in Section 4.4. Each party hereto hereby
agrees that, to the fullest extent permitted by law, service of any process, summons, notice or document by U.S. registered mail to the respective addresses set forth in Section 4.4 shall be effective service of process for any suit or proceeding in
connection with this Agreement or the transactions contemplated hereby 
 4.10. Interpretation; Construction. 

(a)    The headings herein are for convenience of reference only, do not constitute part of this Agreement and shall not
be deemed to limit or otherwise affect any 

  
 31 

 
of the provisions hereof. Where a reference in this Agreement is made to a Section, such reference shall be to a Section of this Agreement unless otherwise indicated. Whenever the words
“include,” “includes” or “including” are used in this Agreement, they shall be deemed to be followed by the words “without limitation.” 

(b)    The parties have participated jointly in negotiating and drafting this Agreement. In the event that an ambiguity or
a question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the parties, and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provision
of this Agreement. 
 4.11. Counterparts. This Agreement may be executed in any number of separate counterparts each of which when so
executed shall be deemed to be an original and all of which together shall constitute one and the same agreement. 
 4.12.
Severability. In the event that any provision of this Agreement shall be invalid, illegal or unenforceable, such provision shall be construed by limiting it so as to be valid, legal and enforceable to the maximum extent provided by law and
the validity, legality and enforceability of the remaining provisions of this Agreement shall not in any way be affected or impaired thereby. 

4.13. Specific Performance. It is hereby agreed and acknowledged that it will be impossible to measure the money damages that would be
suffered if the parties fail to comply with any of the obligations imposed on them by this Agreement and that, in the event of any such failure, an aggrieved party will be irreparably damaged and will not have an adequate remedy at law. Each party
hereto shall, therefore, be entitled (in addition to any other remedy to which such party may be entitled at law or in equity) to injunctive relief, including specific performance, to enforce such obligations, without the posting of any bond, and if
any action should be brought in equity to enforce any of the provisions of this Agreement, none of the parties hereto shall raise the defense that there is an adequate remedy at law. 

4.14. Further Assurances. Each party hereto shall do and perform or cause to be done and performed all such further acts and things and
shall execute and deliver all such other agreements, certificates, instruments, and documents as any other party hereto reasonably may request in order to carry out the intent and accomplish the purposes of this Agreement and the consummation of the
transactions contemplated hereby. 
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 32 

 
			
	COMPANY
	
	REV GROUP, INC.
		
	By:	 	  

 
			
	HOLDERS:
	
	AMERICAN INDUSTRIAL PARTNERS CAPITAL FUND IV, LP
		
	By:	 	AIP CF IV, LLC, its general partner
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	AMERICAN INDUSTRIAL PARTNERS CAPITAL FUND IV (PARALLEL), LP
		
	By:	 	AIP CF IV, LLC, its general partner
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	AIP/CHC HOLDINGS, LLC
		
	By:	 	AIP/CHC Investors, LLC, its general partner
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	JORGE AMADOR
		
	By:	 	  

	Name:	 	
	Title:	 	

 
			
	ERIC BAROYAN
		
		 	  

	Name:	 	
	Title:	 	
	
	THE ERIC BAROYAN 2010 LONG-TERM TRUST
		
	By:	 	  

	Name:	 	
	Title:	 	

  

			
	 THE SPARSH BHARGAVA ESTATE

		
	 By:
	 	 
	 Name:
	 	
	 Title:
	 	

 
			
	
	DANIEL DAVIS
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	DANIEL DAVIS 2012 LONG-TERM TRUST
		
	By:	 	  

	Name:	 	
	Title:	 	

 
			
	BEN DEROSA
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	JUSTIN FISH
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	RICHARD HOFFMAN
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	JOEL ROTROFF
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	GRAHAM SULLIVAN
		
	By:	 	  

	Name:	 	
	Title:	 	

 
			
	GRAHAM GROSVENOR SULLIVAN 2012 LONG-TERM TRUST
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	RYAN HODGSON
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	JOHN BECKER
		
	By:	 	  

	Name:	 	
	
	THE JOHN BECKER 2010 LONG-TERM TRUST
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	DINO CUSUMANO
		
	By:	 	  

	Name:	 	
	Title:	 	

 
			
	KIM MARVIN
		
	By:	 	  

	Name:	 	
	Title:	 	

 
			
	 PEG U.S. DIRECT CORPORATE

FINANCE INSTITUTIONAL
 INVESTORS III
LLC

		
	By:	 	 J.P. Morgan Investment Management Inc., as Investment Manager 

		
	By:	 	  

	Name:	 	
	Title:	 	
	
	 PEG CORPORATE FINANCE

PRIVATE INVESTORS III LLC

		
	By:	 	 J.P. Morgan Investment Management Inc., as Sub-Advisor

		
	By:	 	  

	Name:	 	
	Title:	 	
	
	522 FIFTH AVENUE FUND, L.P.
		
	By:	 	 J.P. Morgan Investment Management Inc., as Investment Manager

		
	By:	 	  

	Name:	 	
	Title:	 	

 
			
	MANAGEMENT:
		
	By:	 	  

	Name:	 	Tim Sullivan
		
	By:	 	  

	Name:	 	Dean Nolden
		
	By:	 	  

	Name:	 	Pamela Krop
		
	By:	 	  

	Name:	 	Barbara Stephens
		
	By:	 	  

	Name:	 	Marcus Berto
		
	By:	 	  

	Name:	 	Thomas Phillips
		
	By:	 	  

	Name:	 	Stephen Engler

 
			
	[ALLY COMMERCIAL FINANCE, LLC
		
	By:	 	[__][, its general partner]
		
	By:	 	  

	Name:	 	
	Title:	 	                                      
  ]

 Schedule A 

AIP 

			
	
American Industrial Partners Capital Fund IV, LP
	  	 c/o
American Industrial Partners
 330 Madison Avenue, 28th Floor

New York, New York 10017
 Attn: Chief Financial
Officer

	
American Industrial Partners Capital Fund IV (Parallel), LP 
	  
	 AIP/CHC
Holdings, LLC
	  
	 Jorge
Amador
	  
	 Eric
Baroyan
	  
	 The Eric
Baroyan 2010 Long-Term Trust
	  
	 The
Sparsh Bhargava Estate
	  
	 Daniel
Davis
	  
	 Daniel
Davis 2012 Long-Term Trust
	  
	 Ben
DeRosa
	  
	 Justin
Fish
	  
	 Richard
Hoffman
	  
	 Joel
Rotroff
	  
	 Graham
Sullivan
	  
	 Graham
Grosvenor Sullivan 2012 Long-Term Trust
	  
	 Ryan
Hodgson
	  
	 John
Becker
	  
	 The John
Becker 2010 Long-Term Trust
	  
	 Dino
Cusumano
	  
	 Kim
Marvin
	  

 JPM 

			
	 PEG U.S. Direct Corporate Finance

Institutional Investors III LLC
	  	  

c/o J.P. Morgan Investment Management Inc.
 320 Park Avenue, 15th Floor
 New York, New York 10022

Attn: Eduard Beit
  

	
PEG Corporate Finance Private Investors III LLC
	  
	
522 Fifth Avenue Fund, L.P.
  
	  

 MANAGEMENT 

			
	 Tim Sullivan
	  	 c/o
REV Group, Inc.
 1441 Brickell Avenue, Suite 1007
 Miami,
Florida 33131
 Attn: Pamela S. Krop

	
Dean Nolden
	  
	
Pamela Krop
	  
	
Barbara Stephens
	  
	
Marcus Berto
	  
	
Thomas Phillips
	  
	
Stephen Engler
	  

 [ALLY 

			
	 Ally Commercial Finance, LLC
	  	 c/o Ally
Commercial Finance, LLC
 300 Park Avenue, 4th Floor

New York, New York 10022
 Attn: Michael
O’ConnorEX-10.18

 Exhibit 10.18 

REV GROUP, INC. 
 2016
OMNIBUS INCENTIVE PLAN 
 RESTRICTED STOCK UNIT AWARD 

                       
               , 2017 
 Subject to the terms and conditions set forth in
this grant letter (the “Grant Letter”) and Exhibit A (the Grant Letter and Exhibit A constituting this “Agreement”), REV Group, Inc., a Delaware corporation (the “Company”), has granted you as of
the Grant Date set forth below an award of Restricted Stock Units (the “Award”). The Award is granted under and is subject to the REV Group, Inc. 2016 Omnibus Incentive Plan (the “Plan”). Unless defined in this
Agreement, capitalized terms shall have the meanings assigned to them in the Plan. The provisions of the Plan shall control in the event of a conflict among the provisions of the Plan, this Agreement and any descriptive materials provided to you.

 AWARD TERMS 
  

	
	PARTICIPANT: Name
	GRANT
DATE:                         , 2017
	UNITS SUBJECT TO AWARD: Unit number
	 VESTING DATES:

 

 Please review this Agreement and let us know if you have any questions about this Agreement, the Award or the Plan. You are
advised to consult with your own tax advisors in respect of any tax consequences arising in connection with this Award. 
 If you have questions please
contact the Company’s Corporate Compensation Manager via email at compensation@revgroup.com. If not, please provide your signature, address and the date for this Agreement where indicated below. 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the day and year first written
above. 
  

					
	REV GROUP, INC.
		
	By:	 	 
		 	Name:	 	Barbara H. Stephens
			
		 	Title:	 	Chief Human Resources Officer
		
		 	 
		 	Name
		
		 	 
		 	 
		 	Address

  

			
	Date:	 	                      , 20—

 EXHIBIT A 

REV GROUP, INC. 2016 OMNIBUS INCENTIVE PLAN 

RESTRICTED STOCK UNIT AWARD AGREEMENT 

THIS AGREEMENT, made and entered into on the date of the Grant Letter, by and between REV Group, Inc. (the “Company”), a
Delaware corporation, and the individual listed in the Grant Letter as the Participant. 
 WHEREAS, the Participant has been granted the
Award under the Plan; 
 NOW, THEREFORE, in consideration of the promises and mutual covenants contained herein, and for other good and
valuable consideration, the parties hereto agree as follows. 
 1. Award of Shares. Pursuant to the provisions of the Plan, the terms
of which are incorporated herein by reference, the Participant is hereby awarded the number of restricted stock units (“RSUs”) set forth in the Grant Letter, subject to the terms and conditions of the Plan and those herein set
forth. The Award is granted as of the date set forth in the Grant Letter. 
 2. Issuance of RSUs. Each RSU shall represent the right
to receive one Share upon the vesting of such RSU, as determined in accordance with and subject to the terms of this Agreement and the Plan. 

3. Terms and Conditions. It is understood and agreed that the Award evidenced hereby is subject to the following terms and conditions:

 (a) Voting Rights. The Participant shall have no voting rights or any other rights as a shareholder of the Company
with respect to the RSUs unless and until the Participant becomes the record owner of the Shares underlying such RSUs. 
 (b)
Dividends. If a dividend is paid on Shares during the period commencing on the Grant Date and ending on the date on which the Shares underlying RSUs are distributed to the Participant pursuant to Section 3(d), the Participant shall be
eligible to receive an amount equal to the dividend that the Participant would have received had the Shares underlying the RSUs been distributed to the Participant as of the time at which such dividend is paid; provided, however, that no such
amount shall be payable with respect to any RSUs that are forfeited. Such amount shall be paid to the Participant on the date on which the Shares underlying the RSUs are distributed to the Participant in the same form (cash, Shares or other
property) in which such dividend is paid to holders of Shares generally. Any Shares that the Participant is eligible to receive pursuant to this Section 3(b) are referred to herein as “Dividend Shares.” 

(c) Vesting of Award. Subject to the provisions of this Section 3 and Sections 7 and 8, the Award shall vest as set
forth in the Grant Letter. 

  
 1 

 (d) Distribution on Vesting. Subject to the provisions of this Agreement,
upon the vesting of any of the RSUs, the Company shall deliver to the Participant, as soon as reasonably practicable after the applicable Vesting Date (or the date of the Participant’s Termination of Service, as applicable), one Share for each
such RSU and the number of Dividend Shares (as determined in accordance with Section 3(b)); provided that such delivery of Shares shall be made no later than March 15 of the calendar year immediately following the year in which the
applicable Vesting Date (or the date of the Participant’s Termination of Service, as applicable) occurs. Upon such delivery, such Shares (including Dividend Shares) shall be fully assignable, alienable, saleable and transferrable by the
Participant; provided that any such assignment, alienation, sale, transfer or other alienation with respect to such Shares shall be in accordance with applicable securities laws and any applicable Company policy. 

(e) Termination of Service; Forfeiture of Unvested Shares. In the event of Termination of Service of the Participant
prior to the date on which the Award otherwise becomes vested, the unvested portion of the Award shall immediately be forfeited by the Participant and become the property of the Company. 

(f) Change of Control.1 Notwithstanding any provision of this
Agreement to the contrary, if, within twelve (12) months following a Change of Control, the Award (or a substitute award) remains outstanding and the Participant incurs a Termination of Service without Cause or for Good Reason, the Award shall
become immediately vested in full and all restrictions shall lapse upon such Termination of Service. For purposes of this Agreement, “Good Reason” means “Good Reason” as defined in the Participant’s Service Provider
Agreement, if any, or if not so defined, the occurrence of any of the following events, in each case without the Participant’s consent: (i) a material reduction by the Company or any of its Affiliates of the Participant’s base salary,
other than any such reduction that applies generally to similarly situated employees of the Company or (ii) a relocation by the Company or any of its Affiliates of the principal place of the Participant’s employment or service outside a 50
mile radius from its current location; provided that, in each case, (A) the Participant shall provide the Company with written notice specifying the circumstances alleged to constitute Good Reason within 90 days following the first
occurrence of such circumstances; (B) if possible, the Company shall have 60 days following receipt of such notice to cure such circumstances; and (C) if the Company has not cured such circumstances within such 60-day period, the
Participant shall terminate his or her employment or service not later than 60 days after the end of such 60-day period. 

(g) Death or Disability. In the event of the Participant’s Termination of Service at any time due to the
Participant’s death or Disability, the RSUs shall fully vest on the date of such Termination of Service and shall be distributed to the Participant pursuant to Section 3(d). 

 

	1 	 NTD: RSUs granted to directors will vest upon the change of control itself.

  
 2 

 (h) No Right to Continued Service. The grant of an Award shall not be
construed as giving the Participant the right to be retained in the employ of, or to continue to provide services to, the Company or any Affiliate. The receipt of any Award under the Plan is not intended to confer any rights on the receiving
Participant except as set forth in the applicable Award Agreement. 
 (i) No Right to Future Awards. Any Award granted
under the Plan shall be a one-time Award that does not constitute a promise of future grants. The Company, in its sole discretion, maintains the right to make available future grants under the Plan. 

4. Transfer of RSUs. Except as may be permitted by the Administrator, neither this Award nor any right under this Award shall be
assignable, alienable, saleable or transferable by the Participant otherwise than by will or pursuant to the laws of descent and distribution. This provision shall not apply to any portion of this Award that has been fully settled and shall not
preclude forfeiture of any portion of this Award in accordance with the terms herein 
 5. Tax Liability; Withholding Requirements.

 (a) The Participant shall be solely responsible for any applicable taxes (including, without limitation, income and excise
taxes) and penalties, and any interest that accrues thereon, that the Participant incurs in connection with the receipt, vesting or settlement of any RSU granted hereunder. 

(b) The Company may withhold any tax (or other governmental obligation) that becomes due with respect to the RSUs (or any
dividend distribution thereon) and take such action as it deems appropriate to ensure that all applicable withholding, income or other taxes, which are the sole and absolute responsibility of the Participant, are withheld or collected from the
Participant. The Participant shall make arrangements satisfactory to the Company to enable the Company to satisfy all such withholding requirements. Notwithstanding the foregoing, the Administrator may, in its sole discretion, permit the Participant
to satisfy any such withholding requirement by transferring to the Company pursuant to such procedures as the Administrator may require, effective as of the date on which such requirement arises, a number of vested Shares owned and designated by the
Participant having an aggregate Fair Market Value as of such date that is equal to the minimum amount required to be withheld. If the Administrator permits the Participant to satisfy any such withholding requirement pursuant to the preceding
sentence, the Company shall remit to the Internal Revenue Service and appropriate state and local revenue agencies, for the credit of the Participant, an amount of cash withholding equal to the Fair Market Value of the Shares transferred to the
Company as provided above. 

  
 3 

 6. Not Salary, Pensionable Earnings or Base Pay. The Participant acknowledges that the
Award shall not be included in or deemed to be a part of (a) salary, normal salary or other ordinary compensation, (b) any definition of pensionable or other earnings (however defined) for the purpose of calculating any benefits payable to
or on behalf of the Participant under any pension, retirement, termination or dismissal indemnity, severance benefit, retirement indemnity or other benefit arrangement of the Company or any Subsidiary or (c) any calculation of base pay or
regular pay for any purpose. 
 7. Whistleblower Protection. The Participant has the right under federal law to certain protections
for cooperating with or reporting legal violations to the Securities and Exchange Commission (the “SEC”) or its Office of the Whistleblower, as well as certain other governmental entities and self-regulatory organizations. As such,
nothing in this Agreement or otherwise is intended to prohibit the Participant from disclosing this Agreement to, or from cooperating with or reporting violations to, the SEC or any such governmental entity or self-regulatory organization, and the
Participant may do so without notifying the Company. The Company may not retaliate against the Participant for any of these activities, and nothing in this Agreement or otherwise requires the Participant to waive any monetary award or other payment
that the Participant might become entitled to from the SEC or any such governmental entity or self-regulatory organization. 
 8.
Forfeiture Upon Breach of Certain Other Agreements. Subject to Section 7, the Participant’s breach of any non-competition, non-solicitation, confidentiality, non-disparagement, assignment of inventions or other intellectual property
agreement that the Participant may be a party to with the Company or any Affiliate, in addition to whatever other equitable relief or monetary damages that the Company or any Affiliate may be entitled to, shall result in automatic rescission,
forfeiture, cancellation or return of any Shares (whether or not vested) held by the Participant. Without limiting the generality of the foregoing: 

(a) Non-Competition. The Participant agrees that, during the term of employment and for a period of twelve
(12) months after the Termination of Service (collectively, the “Restriction Period”), the Participant shall not, directly or indirectly, whether as owner, partner, investor, consultant, agent, employee, co-venturer or
otherwise, compete with the Company or any of its Affiliates. Specifically, but without limiting the foregoing, the Participant agrees not to engage in any manner in any activity that is directly or indirectly competitive with the business of the
Company or any of its Affiliates, as conducted or, to Participant’s knowledge, under consideration at any time during the Participant’s employment or other service, and further agrees not to work or provide services, in any capacity,
whether as an employee, independent contractor or otherwise, whether with or without compensation, to any person who is engaged in any business that is competitive with the business of the Company or any of its Affiliates for which the Participant
has provided services as of the Termination of Service. 
 (b) Non-Solicitation. The Participant agrees that, during
the Restriction Period, the Participant shall not, and shall not assist any other person to directly or indirectly: (i) solicit or encourage any customer of the Company or any of its Affiliates to terminate or diminish its relationship with
them; (ii) seek to persuade any such customer or any prospective customer of the Company or any of its Affiliates to conduct with anyone else any business or activity which such customer or prospective customer conducts or could conduct with
the Company or any of its Affiliates; (iii) hire or solicit 

  
 4 

 
for hiring any employee of the Company or any of its Affiliates or seek to persuade any employee of the Company or any of its Affiliates to discontinue employment; or (iv) solicit or
encourage any independent contractor providing services to the Company or any of its Affiliates to terminate or diminish its relationship with them. 

(c) Confidentiality. Subject to Section 7, the Participant agrees to protect Confidential Information, as defined
herein, and that the Participant shall never, directly or indirectly, use or disclose it other than in the course and scope of his or her employment. For purposes of this Agreement, “Confidential Information” means all confidential
and proprietary information of the Company and its Affiliates, including, without limitation, information derived from reports, investigations, experiments, research, work in progress, drawings, designs, plans, proposals, codes, marketing and sales
programs, client lists, client mailing lists, supplier lists, financial projections, cost summaries, pricing formula, marketing studies relating to prospective business opportunities and all other know-how, trade secrets, inventions, concepts,
ideas, materials, or information developed, prepared or performed for or by the Company or its Affiliates. For purposes of this Agreement, Confidential Information shall not include and the Participant’s obligation’s shall not extend to
information that the Participant can demonstrate with competent evidence is (i) generally available to the public without any action or involvement by the Participant or (ii) independently obtained by the Participant from a third party on
a non-confidential and authorized basis. 
 (d) Non-Disparagement. Subject to Section 7, the Participant agrees
that, for a period of twelve (12) months after the Termination of Service, the Participant shall not disparage or criticize the Company, its Affiliates, their business, their management or their products or services, and that the Participant
will not otherwise do or say anything that could disrupt the good morale of employees of the Company or any of its Affiliates or harm the interests or reputation of the Company or any of its Affiliates. 

(e) Assignment of Inventions or Other Intellectual Property. 

(i) Definitions. For purposes of this Agreement, (A) “Intellectual Property” means all patents,
invention disclosures, invention registrations, trademarks, service marks, trade names, trade dress, logos, domain names, copyrights, mask works, trade secrets, know-how and all other intellectual property and proprietary rights recognized by any
applicable law of any jurisdiction, and all registrations and applications for registration of, and all goodwill associated with, the foregoing; and (B) “Inventions” means all inventions, discoveries, concepts, information,
works, materials, processes, methods, data, software, programs, apparatus, designs and the like. 
 (ii) Disclosure.
The Participant shall disclose promptly in writing to the Company any and all Inventions and Intellectual Property, in each case that the Participant conceives, develops, creates or reduces to practice, either alone or jointly with others, during
the period of the Participant’s employment or provision of service that (A) are conceived, created or developed using any equipment, supplies, facilities, trade secrets, know-how or other Confidential Information of

  
 5 

 
the Company or any of its Affiliates; (B) result from any work performed by the Participant for the Company or any of its Affiliates; and/or (C) otherwise relate to the Company’s
or any of its Affiliates’ business or actual or demonstrably anticipated research or development (collectively, “Company Intellectual Property”). 

(iii) Ownership and Assignment. The Participant acknowledges and agrees that the Company shall have exclusive title and
ownership rights in and to all Company Intellectual Property. To the extent that exclusive title and/or ownership rights may not originally vest in the Company as contemplated herein, the Participant hereby assigns, transfers, conveys and delivers
to the Company all right, title and interest in and to all Company Intellectual Property. The Participant acknowledges and agrees that, with respect to any Company Intellectual Property that may qualify as a Work Made For Hire as defined in 17
U.S.C. § 101 or other applicable law, such Company Intellectual Property is and will be deemed a Work Made for Hire and the Company will have the sole and exclusive right to the copyright (or, in the event that any such Company Intellectual
Property does not qualify as a Work Made for Hire, the copyright and all other rights thereto are automatically assigned to the Company as above). 

(iv) Prior Inventions. The Participant has previously provided to an authorized representative of the Company a complete
list of all Inventions that the Participant has, alone or jointly with others, conceived, developed, created or reduced to practice prior to the commencement of the Participant’s employment or other service with the Company, that are the
Participant’s property, and that the Company acknowledges and agrees are excluded from the scope of this Agreement (collectively, “Prior Inventions”). If disclosure of any such Prior Invention would cause the Participant to
violate any prior confidentiality agreement, the Participant understands that he or she is not to list such Prior Inventions but is only to disclose where indicated a cursory name for each such Prior Invention, a listing of each person or entity to
whom it belongs, and the fact that full disclosure as to such Prior Inventions has not been made for that reason (it being understood that, if no Invention or disclosure is provided, the Participant hereby represents and warrants that there are no
Prior Inventions). If, in the course of the Participant’s employment or other service with the Company, the Participant incorporates any Prior Invention into any Company product, process or machine or otherwise uses any Prior Invention, the
Participant hereby grants to the Company and its Affiliates a worldwide, non-exclusive, irrevocable, perpetual, fully paid-up and royalty-free license (with rights to sublicense through multiple tiers of sublicensees) to use, reproduce, modify, make
derivative works of, publicly perform, publicly display, make, have made, sell, offer for sale, import and otherwise exploit such Prior Invention for any purpose. 

(v) Non-Assignable Inventions. If the Participant is an employee or other service provider whose principal work location
is in California, Illinois, Kansas, Minnesota or Washington State, the provisions regarding the Participant’s assignment of Company Intellectual Property to the Company in Section 8(e)(iii)

  
 6 

 
hereof do not apply to certain Inventions (“Non-Assignable Inventions”) as specified in the statutory code of the applicable state. The Participant acknowledges having received
and reviewed notification regarding such Non-Assignable Inventions pursuant to such states’ codes. 
 (vi) Waiver of
Moral Rights. To the extent that the Participant may do so under applicable law, the Participant hereby waives and agrees never to assert any Moral Rights that the Participant may have in or with respect to any Company Intellectual Property,
even after termination of any work on behalf of the Company. For purposes of this Agreement, “Moral Rights” means any rights to claim authorship of a work, to object to or prevent the modification or destruction of a work, or to
withdraw from circulation or control the publication or distribution of a work, and any similar right, existing under any applicable law of any jurisdiction, regardless of whether or not such right is denominated or generally referred to as a
“moral right.” 
 (vii) Further Assurances. The Participant shall give the Company and its Affiliates all
reasonable assistance and execute all documents necessary to assist with enabling the Company and its Affiliates to prosecute, perfect, register, record, enforce and defend any of their rights in any Company Intellectual Property and Confidential
Information. 
 8. Recoupment/Clawback. This Award may be subject to recoupment or “clawback” as may be required by
applicable law, stock exchange rules or by any applicable Company policy or arrangement, as it may be established or amended from time to time. 

9. References. References herein to rights and obligations of the Participant shall apply, where appropriate, to the Participant’s
legal representative or estate without regard to whether specific reference to such legal representative or estate is contained in a particular provision of this Agreement. 

10. Miscellaneous. 

(a) Notices. Any notice required or permitted to be given under this Agreement shall be in writing and shall be deemed
to have been given when delivered personally or by courier, or sent by certified or registered mail, postage prepaid, return receipt requested, duly addressed to the party concerned at the address indicated below or to such changed address as such
party may subsequently by similar process give notice of: 
 If to the Company: 

REV Group, Inc. 
 111 East
Kilbourn Avenue, Suite 2600 
 Milwaukee, WI 53202 

Attention: Corporate Compensation Manager 

Email: compensation@revgroup.com 

  
 7 

 If to the Participant: 

At the Participant’s most recent address shown on the signature page of the Grant Letter, or at any other address which the Participant
may specify in a notice delivered to the Company in the manner set forth herein. 
 (b) Entire Agreement. This Award
Agreement, the Plan and any other agreements, schedules, exhibits and other documents referred to herein or therein constitute the entire agreement and understanding between the parties in respect of the subject matter hereof and supersede all prior
and contemporaneous arrangements, agreements and understandings, both oral and written, whether in term sheets, presentations or otherwise, between the parties with respect to the subject matter hereof. 

(c) Severability. If any provision of this Award Agreement is or becomes or is deemed to be invalid, illegal or
unenforceable in any jurisdiction, or would disqualify the Plan or this Award Agreement under any law deemed applicable by the Board, such provision shall be construed or deemed amended to conform to applicable laws, or if it cannot be so construed
or deemed amended without, in the determination of the Board, materially altering the intent of this Award Agreement, such provision shall be stricken as to such jurisdiction, and the remainder of this Award Agreement shall remain in full force and
effect. 
 (d) Amendment; Waiver. No amendment or modification of any provision of this Award Agreement that has a
material adverse effect on the Participant shall be effective unless signed in writing by or on behalf of the Company and the Participant; provided that the Company may amend or modify this Award Agreement without the Participant’s
consent in accordance with the provisions of the Plan or as otherwise set forth in this Award Agreement. No waiver of any breach or condition of this Award Agreement shall be deemed to be a waiver of any other or subsequent breach or condition,
whether of like or different nature. Any amendment or modification of or to any provision of this Award Agreement, or any waiver of any provision of this Award Agreement, shall be effective only in the specific instance and for the specific purpose
for which made or given. 
 (e) Assignment. Neither this Award Agreement nor any right, remedy, obligation or
liability arising hereunder or by reason hereof shall be assignable by the Participant. 
 (f) Successors and Assigns; No
Third-Party Beneficiaries. This Award Agreement shall inure to the benefit of and be binding upon the Company and the Participant and their respective heirs, successors, legal representatives and permitted assigns. Nothing in this Award
Agreement, express or implied, is intended to confer on any Person other than the Company and the Participant, and their respective heirs, successors, legal representatives and permitted assigns, any rights, remedies, obligations or liabilities
under or by reason of this Award Agreement. 

  
 8 

 (g) Governing Law; Waiver of Jury Trial. This Award Agreement shall
be governed by the laws of the State of Delaware, without application of the conflicts of law principles thereof. BY RECEIPT OF THIS AWARD, THE PARTICIPANT WAIVES ANY RIGHT THAT THE PARTICIPANT MAY HAVE TO TRIAL BY JURY IN RESECT OF ANY LITIGATION
BASED ON, ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AWARD AGREEMENT OR THE PLAN. 
 (h) Participant Undertaking;
Acceptance. The Participant agrees to take whatever additional action and execute whatever additional documents the Company may deem necessary or advisable to carry out or give effect to any of the obligations or restrictions imposed on either
the Participant or the RSU pursuant to this Award Agreement. The Participant acknowledges receipt of a copy of the Plan and this Award Agreement and understands that material definitions and provisions concerning the RSU and the Participant’s
rights and obligations with respect thereto are set forth in the Plan. The Participant has read carefully, and understands, the provisions of this Award Agreement and the Plan. 

(i) Dispute Resolution. Any dispute or claim arising out of, under or in connection with the Plan or any Award
Agreement shall be submitted to arbitration in Delaware and shall be conducted in accordance with the rules of, but not necessarily under the auspices of, the American Arbitration Association (“AAA”) rules in force when the notice
of arbitration is submitted. The arbitration shall be conducted before an arbitration tribunal comprised of one individual, mutually selected by the Company and the Participant, such selection to be made within 30 calendar days after notice of
arbitration has been given. In the event the parties are unable to agree in such time, AAA will provide a list of 3 available arbitrators and an arbitrator will be selected from such 3-member panel provided by AAA by the parties alternately striking
out one name of a potential arbitrator until only one name remains. The party entitled to strike an arbitrator first shall be selected by a toss of a coin. The Participant and the Company agree that such arbitration will be confidential and no
details, descriptions, settlements or other facts concerning such arbitration shall be disclosed or released to any third party without the specific written consent of the other party, unless required by law or court order or in connection with
enforcement of any decision in such arbitration. Any damages awarded in such arbitration shall be limited to the contract measure of damages, and shall not include punitive damages. 

(j) Counterparts. This Agreement may be executed in two counterparts, each of which shall constitute one and the same
instrument. 

  
 9

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