Document:

EX-10.1

 Exhibit 10.1 

Execution Version 

TRANSITION SERVICES AGREEMENT 
 By
and Between 
 AARON’S HOLDINGS COMPANY, INC. (TO BE KNOWN AS PROG HOLDINGS, INC.) 

and 
 THE AARON’S COMPANY,
INC. 
 Dated as of November 29, 2020 
  

 TABLE OF CONTENTS 

 

							
	 ARTICLE I DEFINITIONS
	  	 	1	 
			
	 Section 1.01.
	 	Definitions	  	 	1	 
		
	 ARTICLE II SERVICES
	  	 	5	 
			
	 Section 2.01.
	 	Services	  	 	5	 
			
	 Section 2.02.
	 	Additional Services	  	 	5	 
			
	 Section 2.03.
	 	Performance of Services	  	 	6	 
			
	 Section 2.04.
	 	Changes in the Performance of Services	  	 	7	 
			
	 Section 2.05.
	 	Transitional Nature of Services	  	 	7	 
			
	 Section 2.06.
	 	Subcontracting	  	 	7	 
			
	 Section 2.07.
	 	Contract Manager	  	 	8	 
		
	 ARTICLE III SERVICE CHARGES
	  	 	9	 
			
	 Section 3.01.
	 	Charges for Services	  	 	9	 
			
	 Section 3.02.
	 	Reimbursement for Out-of-Pocket Costs and Expenses	  	 	9	 
		
	 ARTICLE IV BILLING; TAXES
	  	 	9	 
			
	 Section 4.01.
	 	Billing and Payment	  	 	9	 
			
	 Section 4.02.
	 	Late Payments	  	 	9	 
			
	 Section 4.03.
	 	Taxes	  	 	10	 
			
	 Section 4.04.
	 	No Set-Off	  	 	10	 
		
	 ARTICLE V TERM AND TERMINATION
	  	 	10	 
			
	 Section 5.01.
	 	Term	  	 	10	 
			
	 Section 5.02.
	 	Early Termination	  	 	10	 
			
	 Section 5.03.
	 	Reduction of Services	  	 	11	 
			
	 Section 5.04.
	 	Interdependencies	  	 	11	 
			
	 Section 5.05.
	 	Effect of Termination	  	 	11	 
			
	 Section 5.06.
	 	Information Transmission	  	 	12	 
		
	 ARTICLE VI ACCESS; SYSTEM SECURITY
	  	 	12	 
			
	 Section 6.01.
	 	Access	  	 	12	 
			
	 Section 6.02.
	 	System Security	  	 	12	 
		
	 ARTICLE VII CONFIDENTIALITY; PROTECTIVE ARRANGEMENTS
	  	 	13	 
			
	 Section 7.01.
	 	Confidentiality	  	 	13	 
			
	 Section 7.02.
	 	Privacy and Data Protection Laws	  	 	13	 
		
	 ARTICLE VIII LIMITED LIABILITY AND INDEMNIFICATION
	  	 	13	 
			
	 Section 8.01.
	 	Limitations on Liability	  	 	13	 

  
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	 Section 8.02.
	 	Obligation to Re-Perform; Liabilities	  	 	14	 
			
	 Section 8.03.
	 	Third-Party Claims	  	 	14	 
			
	 Section 8.04.
	 	Provider Indemnity	  	 	14	 
			
	 Section 8.05.
	 	Indemnification Procedures	  	 	15	 
			
	 Section 8.06.
	 	Liability for Payment Obligations	  	 	15	 
			
	 Section 8.07.
	 	Exclusions of Other Remedies	  	 	15	 
		
	 ARTICLE IX MISCELLANEOUS
	  	 	15	 
			
	 Section 9.01.
	 	Further Assurances	  	 	15	 
			
	 Section 9.02.
	 	Title to Intellectual Property	  	 	15	 
			
	 Section 9.03.
	 	Independent Contractors	  	 	15	 
			
	 Section 9.04.
	 	Group Members	  	 	16	 
			
	 Section 9.05.
	 	Counterparts; Entire Agreement; Corporate Power	  	 	16	 
			
	 Section 9.06.
	 	Governing Law	  	 	17	 
			
	 Section 9.07.
	 	Assignability	  	 	17	 
			
	 Section 9.08.
	 	Third-Party Beneficiaries	  	 	17	 
			
	 Section 9.09.
	 	Notices	  	 	17	 
			
	 Section 9.10.
	 	Severability	  	 	18	 
			
	 Section 9.11.
	 	Force Majeure	  	 	18	 
			
	 Section 9.12.
	 	Headings	  	 	19	 
			
	 Section 9.13.
	 	Survival of Covenants	  	 	19	 
			
	 Section 9.14.
	 	Waivers of Default	  	 	19	 
			
	 Section 9.15.
	 	Dispute Resolution	  	 	19	 
			
	 Section 9.16.
	 	Specific Performance	  	 	20	 
			
	 Section 9.17.
	 	Amendments	  	 	20	 
			
	 Section 9.18.
	 	Precedence of Schedules	  	 	20	 
			
	 Section 9.19.
	 	Interpretation	  	 	20	 
			
	 Section 9.20.
	 	Mutual Drafting	  	 	21	 

  

  
 ii 

 TRANSITION SERVICES AGREEMENT 

This TRANSITION SERVICES AGREEMENT (this “Agreement”) is entered into on November 29, 2020 and is
effective as of the Effective Time, by and between Aaron’s Holdings Company, Inc., a Georgia corporation (“RemainCo”), and The Aaron’s Company, Inc., a Georgia corporation (“SpinCo”). RemainCo and SpinCo
are sometimes referred to herein, individually, as a “Party,” and, collectively, as the “Parties.” Capitalized terms used herein and not otherwise defined shall have the respective meanings ascribed to such terms in Article I
hereof. 
 R E C I T A L S: 

WHEREAS, the Board of Directors of RemainCo has determined that it is appropriate, desirable and in the best interests of
RemainCo and its shareholders to effectuate the Separation and the Distribution as described in the Separation and Distribution Agreement between RemainCo and SpinCo dated as of November 29, 2020 (the “Separation Agreement”);

 WHEREAS, the Separation Agreement provides, among other things, subject to the terms and conditions thereof, for the
Separation and the Distribution and for the execution and delivery of certain other agreements, including this Agreement; and 

WHEREAS, in order to facilitate and provide for an orderly transition in connection with the Separation and the Distribution,
the Parties desire to enter into this Agreement to set forth the terms and conditions pursuant to which each of the Parties shall provide Services to the other Party for a transitional period. 

NOW, THEREFORE, in consideration of the mutual agreements, provisions and covenants contained in this Agreement, and for other
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties, intending to be legally bound, hereby agree as follows: 

ARTICLE I 
 DEFINITIONS 

Section 1.01. Definitions. For purposes of this Agreement (including the recitals hereof), the following terms
have the following meanings, and capitalized terms used but not otherwise defined herein shall have the meaning ascribed to them in the Separation Agreement: 

“Accessing Party” has the meaning set forth in Section 6.02(a). 

“Action” means any claim, demand, action, suit, countersuit, arbitration, inquiry, subpoena, discovery
request, proceeding or investigation of any nature (whether criminal, civil, legislative, administrative, regulatory, prosecutorial or otherwise) by or before any Governmental Authority or any federal, state, local, foreign or international
arbitration or mediation tribunal. 
 “Additional Services” has the meaning set forth in
Section 2.02. 

 “Affiliate” has the meaning set forth in the Separation
Agreement. 
 “Agreement” has the meaning set forth in the Preamble. 

“Ancillary Agreements” has the meaning set forth in the Separation Agreement. 

“Business Entity” has the meaning set forth in the Separation Agreement. 

“Charge” and “Charges” have the meaning set forth in Section 3.01.

 “Confidential Information” means all Information that is either confidential or proprietary. 

“Contract Manager” has the meaning set forth in Section 2.07. 

“Dispute” has the meaning set forth in Section 9.15(a). 

“Distribution” has the meaning set forth in the Separation Agreement. 

“Distribution Date” means the date on which the Distribution is consummated. 

“e-mail” has the meaning set forth in
Section 9.09. 
 “Effective Time” means 11:59 Eastern Standard Time on the
Distribution Date. 
 “Force Majeure” means, with respect to a Party, an event beyond the control of such
Party (or any Person acting on its behalf), which by its nature could not reasonably have been foreseen by such Party (or such Person), or, if it could reasonably have been foreseen, was unavoidable, and includes acts of God, unusually severe
weather conditions, floods, riots, fires, explosions, sabotage, civil commotion or civil unrest, interference by civil or military authorities, cyberattacks, epidemics, pandemics, acts of war (declared or undeclared) or armed hostilities, other
regional, national or international calamities or acts of terrorism, strikes, labor stoppages, or slowdowns or other industrial disturbances; or failures of energy sources or distribution or transportation facilities. Notwithstanding the foregoing,
the receipt by a Party of an unsolicited takeover offer or other acquisition proposal, even if unforeseen or unavoidable, and such Party’s response thereto shall not be deemed an event of Force Majeure. 

“Governmental Authority” means any supranational, international, national, federal, state, provincial or
local court, government, department, commission, board, bureau, agency, official or other regulatory, administrative or governmental authority, including the New York Stock Exchange or any similar self-regulatory body under applicable securities
Laws. 
 “Group” means either the RemainCo Group or the SpinCo Group. 

“Group Member” means any Business Entity that is a part of either the RemainCo Group or the SpinCo Group, as
the context requires. 

  
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 “Information” means information in written, oral,
electronic or other tangible or intangible forms, including studies, reports, records, books, contracts, instruments, surveys, specifications, drawings, blueprints, diagrams, models, prototypes, samples, flow charts, data, marketing plans, customer
names, Privileged Information, and other technical, financial, employee or business information or data; provided that “Information” does not include Patents, Trademarks, or Other Intellectual Property. 

“Initial Services” has the meaning set forth in Section 2.01(b). 

“Interest Payment” has the meaning set forth in Section 4.02. 

“Law” has the meaning set forth in the Separation Agreement. 

“Liabilities” has the meaning set forth in the Separation Agreement. 

“Party” or “Parties” has the meaning set forth in the Preamble. 

“Payment Date” has the meaning set forth in Section 4.01. 

“Person” means any (a) individual; (b) Business Entity; or (c) Governmental Authority. 

“Provider” means, with respect to any Service, the Party providing (or causing its other Group Members to
provide) such Service under this Agreement. 
 “Provider Indemnitees” has the meaning set forth in
Section 8.03. 
 “Recipient” means, with respect to any Service, the Party
receiving (either directly or through its other Group Members) such Service under this Agreement. 
 “Recipient
Indemnitees” has the meaning set forth in Section 8.04. 
 “RemainCo”
has the meaning set forth in the Preamble. 
 “RemainCo Business” means the “Progressive
Leasing and Vive Business” as defined in the Separation Agreement. 
 “RemainCo Group” means the
“Parent Group” as defined in the Separation Agreement. 
 “RemainCo Group Member” means
“Parent Group Member” as defined in the Separation Agreement. 
 “Representatives” means, with
respect to any Person, any of such Person’s directors, officers, employees, agents, accountants, counsel, and other advisors or representatives. 

“Security Regulations” has the meaning set forth in Section 6.02(a). 

“Separation” has the meaning set forth in the Separation Agreement. 

“Separation Agreement” has the meaning set forth in the Recitals. 

  
 3 

 “Service Period” means, with respect to any Service, the
period commencing on the later of (a) the Effective Time and (b) the date on which any Additional Service becomes a “Service” pursuant to the terms of this Agreement, and ending on the earlier of (i) the date that a Party
terminates the provision of such Service pursuant to Section 5.02, and (ii) the termination date specified with respect to such Service set forth on Schedule A or Schedule B hereto. 

“Services” means the Initial Services and any Additional Services agreed to by the Parties in accordance with
Section 2.02. 
 “SpinCo” has the meaning set forth in the Preamble. 

“SpinCo Business” means the “Aaron’s Business” as defined in the Separation Agreement. 

“SpinCo Group” has the meaning set forth in the Separation Agreement. 

“Subsidiary” means, with respect to any Person, any Business Entity of which such Person:
(a) beneficially owns, either directly or indirectly, more than 50% of (i) the total combined voting power of all classes of voting securities of such Business Entity; (ii) the total combined equity interests; or (iii) the
capital or profit interests, in the case of a partnership; or (b) otherwise has the power to vote, either directly or indirectly, sufficient securities to elect a majority of the board of directors or similar governing body. 

“Systems” has the meaning set forth in Section 6.02(a). 

“Tax” has the meaning set forth in the Separation Agreement. 

“Taxing Authority” means, with respect to any Tax, the governmental entity or political subdivision thereof
that imposes such Tax and the agency (if any) charged with the collection of such Tax for such entity or subdivision. 

“Termination Charges” shall mean, with respect to the termination of any Service pursuant to
Section 5.02(a)(i), the sum of (a) any and all costs, fees and expenses (other than any severance or retention costs) payable by the Provider of such Service to a Third Party principally because of the early
termination of such Service; provided, however, that the Provider shall use reasonable efforts to minimize any costs, fees or expenses payable to any Third Party in connection with such early termination of such Service and credit any
such reductions against the Termination Charges payable by Recipient; and (b) any additional severance and retention costs, if any, because of the early termination of such Service that the Provider of such terminated Service incurs to
employees who had been retained primarily to provide such terminated Service (it being agreed that the costs set forth in this clause (b) shall only be the amount, if any, in excess of the severance and retention costs that such Provider would
have paid to such employees if the Service had been provided for the full period during which such Service would have been provided hereunder but for such early termination). 

“Third Party” means any Person other than the Parties or any of their respective Affiliates. 

  
 4 

 “Third-Party Claim” means any assertion by a Third Party of
any claim, or the commencement by any Third Party of any Action, against any Party or any of its respective Affiliates. 
 ARTICLE II 

SERVICES 

Section 2.01. Services. 

(a) Commencing as of the Effective Time, SpinCo shall use commercially reasonable efforts to provide (or cause another
applicable member of the SpinCo Group to provide) to RemainCo (or another applicable member of the RemainCo Group) the services set forth on Schedule A. 

(b) Commencing as of the Effective Time, RemainCo shall use commercially reasonable efforts to provide (or cause another
applicable member of the RemainCo Group to provide) to SpinCo (or another applicable member of the SpinCo Group) the services set forth on Schedule B (collectively with the services set forth on Schedule A, the “Initial
Services”). 
 Section 2.02. Additional Services. 

(a) After the Effective Time and at any time prior to the twelve-month anniversary of the Distribution Date, each of RemainCo
and SpinCo may request the other Party to (i) provide additional (including as to volume, amount, level or frequency, as applicable) or different services which the other Party is not expressly obligated to provide under this Agreement if such
services are of the type and scope provided between the RemainCo Group and the SpinCo Group, in each case during the twelve months preceding the Distribution Date, (ii) expand the scope of any Service or (iii) expand the duration for which
any Service is provided (such additional or expanded services, the “Additional Services”). The Party receiving such request for Additional Services shall consider such request in good faith and shall notify the requesting Party as
promptly as practicable as to whether it will or will not provide the Additional Services; provided, however, that neither Party shall be obligated to provide any Additional Service if it does not, in its commercially reasonable
judgment, have adequate resources to provide such Additional Service or if the provision of such Additional Service would significantly disrupt the operation of such Party’s or its Group Members’ businesses. 

(b) If a Party agrees to provide Additional Services pursuant to Section 2.02(a), then the Parties
shall in good faith attempt to negotiate the terms of a supplement to Schedule A and/or Schedule B, as applicable, which will describe in reasonable detail the service or service category, as applicable, project scope, term, price and
payment terms to be charged for such Additional Services; it being understood, however, that the Service Provider shall not be required to provide any Additional Services if the Parties are unable to reach agreement on the terms thereof. If and to
the extent agreed to in writing, the supplement to Schedule A and/or Schedule B, as applicable, shall be deemed part of this Agreement as of such date and the Additional Services shall be deemed “Services” provided hereunder,
in each case subject to the terms and conditions of this Agreement. 

  
 5 

 Section 2.03. Performance of Services. 

(a) Subject to Section 2.06, Provider shall perform, or cause to be performed (through one
(1) or more of its applicable Group Members, or through a Third-Party service provider in accordance herewith), all Services in a manner that is substantially similar in all material respects to the analogous services provided by or on behalf
of Provider or any of its Subsidiaries to its applicable functional group or Subsidiary prior to the Effective Time and that in any event, conforms in all material respects with the terms of Schedule A and/or Schedule B. It is
understood and agreed that the Service Provider is not a professional provider of the types of services included in the Services and that Provider personnel performing Services have other responsibilities and will not be dedicated full-time to
performing Services hereunder. 
 (b) Nothing in this Agreement shall require Provider to perform or cause to be performed
any Service to the extent that the manner of such performance would constitute a violation of any applicable Law or any existing contract, agreement or permit with a Third Party. If Provider is or becomes aware of any such potential violation,
Provider shall use commercially reasonable efforts to promptly advise Recipient of such potential violation, and Provider and Recipient will mutually seek an alternative that addresses such potential violation. The Parties agree to cooperate in good
faith and use commercially reasonable efforts to obtain any necessary Third Party consents required under any existing contract, agreement or permit with a Third Party to allow Provider to perform, or cause to be performed, all Services to be
provided hereunder in accordance with the standards set forth in this Section 2.03. Recipient shall reimburse Provider for all reasonable
out-of-pocket costs and expenses (if any) incurred by Provider or any of its Group Members in connection with obtaining any such Third-Party consent that is required to
allow Provider to perform or cause to be performed such Services. If, with respect to a Service, the Parties, despite the use of such commercially reasonable efforts, are unable to obtain a required Third-Party consent, or the performance of such
Service by Provider would constitute a violation of any applicable Law, the Provider shall, to the extent reasonably practicable, use commercially reasonable efforts in good faith to provide alternative services that are substantially similar to the
applicable Services for which consent was not obtained, or the performance of which would constitute a violation of any applicable Law; provided, that nothing in this Section 2.03(b) shall obligate any Provider (or
any Subsidiary of a Provider) to violate any applicable Law or breach any of its contractual obligations to a Third Party in connection with the provision of such alternative Services. 

(c) It is the intent of the Provider to plan and staff such that the Provider can properly perform the Services that Provider
has agreed to perform under this Agreement, and the Provider does not anticipate the need for any rationing or limitation of Services. Notwithstanding the foregoing, the Recipient acknowledges and agrees that the Provider shall have the right to
establish reasonable priorities between the needs of the Provider, on the one hand, and the needs of the Recipient, on the other hand, as to the provision of any Service if the Provider determines that such priorities are necessary to avoid any
adverse effect on the Provider. If any such priorities are established, the Provider shall advise the Recipient as soon as possible of any Service that will be materially delayed as a result of such prioritization, and will use commercially
reasonable efforts to minimize the duration and impact of such delays. 

  
 6 

 (d) Neither Provider nor any of its Subsidiaries shall be required to
perform or cause to be performed any of the Services for the benefit of any Third Party or any other Person other than Recipient and its Group Members. 

(e) EXCEPT AS EXPRESSLY PROVIDED IN THIS SECTION 2.03 OR SECTION 8.04, EACH PARTY ACKNOWLEDGES AND AGREES, ON ITS
OWN BEHALF AND ON BEHALF OF ITS GROUP MEMBERS, THAT ALL SERVICES (AND ANY RELATED PRODUCTS) PROVIDED UNDER THIS AGREEMENT ARE PROVIDED ON AN “AS-IS” BASIS, THAT RECIPIENT ASSUMES ALL RISK AND
LIABILITY ARISING FROM OR RELATING TO ITS USE OF AND RELIANCE UPON THE SERVICES, AND THAT PROVIDER MAKES NO OTHER REPRESENTATIONS OR GRANTS ANY WARRANTIES, EXPRESS OR IMPLIED, EITHER IN FACT OR BY OPERATION OF LAW, BY STATUTE OR OTHERWISE, WITH
RESPECT TO THE SERVICES. PROVIDER SPECIFICALLY DISCLAIMS ANY OTHER WARRANTIES, WHETHER WRITTEN OR ORAL, OR EXPRESS OR IMPLIED, INCLUDING ANY WARRANTY OF QUALITY, MERCHANTABILITY, OR FITNESS FOR A PARTICULAR USE OR PURPOSE OR THE NON-INFRINGEMENT OF ANY INTELLECTUAL PROPERTY RIGHTS OF THIRD PARTIES. 
 (f) Each Party
shall be responsible for its own compliance with any and all Laws applicable to its performance under this Agreement. No Party shall knowingly take any action in violation of any such applicable Law that results in Liability being imposed on the
other Party. 
 Section 2.04. Changes in the Performance of Services. Subject to the performance standards for
Services set forth in this Article II, Provider may make changes from time to time in the manner of performing the Services if Provider is making similar changes in performing analogous services for itself and if Provider furnishes to
Recipient reasonable prior written notice (in content and timing) of such changes; provided, that if such change shall adversely affect the timeliness or quality of, or increase the Charges for, the applicable Service, the Parties shall
cooperate in good faith to agree on modifications to such Services as are commercially reasonable in consideration of the circumstances. 

Section 2.05. Transitional Nature of Services. The Parties acknowledge the transitional nature of the Services and
agree to cooperate in good faith and to use commercially reasonable efforts to avoid a disruption in the transition of the Services from Provider to Recipient (or its designee). 

Section 2.06. Subcontracting. Provider may not hire or engage any Third Parties to perform any of the Services on
its behalf except (a) for those Services specifically designated on Schedule A or Schedule B, as applicable (collectively, the “Subcontracting Services”) or (b) as mutually agreed in writing by the Parties.
If Provider hires or engages any Third Parties to perform any Subcontracting Service, then (a) Provider shall use the same degree of care (but at least reasonable care) in selecting each such Third Party as it would if such Third Party was
being retained to provide similar services to Provider and (b) Provider shall in all cases remain responsible (as primary obligor) for all of its obligations under this Agreement with respect to the scope of such Subcontracting Services, the
performance standard for such Subcontracting 

  
 7 

 
Services set forth in this Article II and the content of the Subcontracting Services provided to Recipient. Provider shall be liable for any breach of its obligations under this Agreement
by any Third-Party service provider engaged by Provider to provide any Subcontracting Service. Subject to the confidentiality provisions set forth in Article VII, Provider shall, and shall cause its Affiliates to, provide, upon fifteen
(15) Business days’ prior written notice, any Information within Provider’s or its Affiliates’ control that Recipient reasonably requests in connection with any Subcontracting Services being provided to Recipient by a Third
Party, including any applicable invoices, agreements documenting the arrangements between such Third Party and Provider and other supporting documentation; provided, further, that Recipient may make no more than three request(s) per
Third Party during any calendar quarter. 
 Section 2.07. Contract Manager. 

(a) Each Party shall appoint an individual to act as its primary point of operational contact for the administration and
operation of this Agreement (each, a “Contract Manager”) who shall have overall responsibility for coordinating all activities undertaken by such Party hereunder, for acting as a day-to-day contact with the other Party, and for making available to the other Party the data, facilities, resources and other support services required for the performance of the services in accordance with
the terms of this Agreement; provided that for each Service, the Contract Manager shall be permitted to delegate the foregoing responsibilities for such Service to an individual identified on the Schedules, and such representative shall be
deemed to be the Contract Manager with respect to such Service. The initial Contract Managers for the Parties are set forth on Schedule A and Schedule B. The Parties may change their respective Contract Managers from time to time upon
notice to the other Party in accordance herewith. 
 (b) Prior to performing any Service, the Contract Managers will use
reasonable efforts to cooperate with each other to agree on the scope of the Service if such scope is not otherwise designated in Schedule A or Schedule B, as applicable. In the event that either Provider, or its Contract Manager,
anticipate or become aware that the work to be performed for any Service will either (i) exceed the estimates provided on Schedule A or Schedule B, if applicable, for such Service or (ii) result in a material deviation
from the scope of such Service, including a material increase in hours and/or related Charges to perform the Service that would exceed estimates or budgets, then, prior to commencing further work on the Service, the Provider’s Contract Manager
will provide notice to the Recipient’s Contract Manager (which notice need not be provided in compliance with Section 9.09) and such Contract Managers will use reasonable efforts to cooperate with each other to
determine and discuss the matter and appropriate next steps. Notwithstanding anything to the contrary in this Agreement, Provider shall not be in breach of this Agreement for any delay in the performance of any Service as a result of Provider
complying with its obligations under this Section 2.07(b). 

  
 8 

 ARTICLE III 

SERVICE CHARGES 

Section 3.01. Charges for Services. The compensation to be received by Provider for each Service provided under
this Agreement will be the fees or charges set forth in or calculated in the manner set forth in Schedule A or Schedule B, as applicable, relating to the particular Service, subject to any escalation, reduction or other modifications
specifically provided for in such Schedule (each fee constituting a “Charge” and, collectively, “Charges”). During the term of this Agreement, the amount of a Charge for any Service may be modified to the extent of
(a) any adjustments mutually agreed to by the Parties; (b) any Charges applicable to any Additional Services; and (c) any adjustment in the rates or charges imposed by any Third-Party provider that is providing Services;
provided that Provider will notify Recipient in writing of any such change in rates at least thirty (30) days prior to the effective date of such rate change. In consideration for the provision of a Service, Recipient shall pay to
Provider, in the manner set forth in Article IV, the Charge for such Service as set forth in or calculated in the manner set forth in Schedule A or Schedule B, as applicable. 

Section 3.02. Reimbursement for
Out-of-Pocket Costs and Expenses. Recipient shall reimburse Provider for reasonable
out-of-pocket costs and expenses incurred by Provider or any member of its Group in connection with providing the Services (including reasonable travel-related expenses)
to the extent that such costs and expenses are not reflected in the Charges for such Services; provided, however, that any such cost or expense in excess of two-thousand dollars ($2,000) that is
not consistent with historical practice between the Parties for any individual Service (including business travel and related expenses) shall require advance written approval of Recipient; provided, further, that if Recipient does not
provide such advance written approval and the incurrence of such cost or expense is reasonably necessary for Provider to provide such Service in accordance with the standards set forth in this Agreement, Provider shall not be required to perform
such Service. Any authorized travel-related expenses incurred in performing the Services shall be charged to Recipient in accordance with Provider’s then-applicable business travel policies. 

ARTICLE IV 
 BILLING; TAXES 

Section 4.01. Billing and Payment. Within twenty-five (25) calendar days after the end of each month during
the term of this Agreement, Provider will invoice Recipient for the applicable Charges (along with any expenses for which Provider is entitled to reimbursement pursuant to this Agreement, if known at that time) on a monthly basis, in arrears, for
the prior month then ended. The invoice shall set forth in reasonable detail for the period covered by such invoice (a) the Services rendered, and (b) the Charges for such month for each type of Service provided, calculated in accordance
with Schedule A or Schedule B, as applicable, and shall be accompanied by any applicable third party invoices and other documentation reasonably necessary for the Recipient to evaluate the invoiced amounts. Upon the Recipient’s
request, Provider shall provide to Recipient reasonable additional detail and supporting documentation regarding invoiced amounts. All amounts due and payable hereunder shall be paid in U.S. dollars by wire transfer of immediately available funds to
an account or accounts designated in writing from time to time by Provider within thirty (30) days after the receipt of such invoice (the “Payment Date”). In the event of any billing dispute, Recipient shall promptly pay any
undisputed amount. 
 Section 4.02. Late Payments. Invoiced amounts not paid when due (including any undisputed
amounts) shall accrue interest at a rate per annum equal to five percent (5%) calculated from the applicable Payment Date (the “Interest Payment”). 

  
 9 

 Section 4.03. Taxes. Without limiting any provisions of this
Agreement, Recipient shall bear any and all Taxes and other similar charges (and any related interest and penalties) imposed on, or payable with respect to, any fees or charges, including any Charges, payable by it pursuant to this Agreement,
including all sales, use, value-added, and similar Taxes, but excluding any Taxes on Provider’s income. Notwithstanding anything to the contrary in the previous sentence or elsewhere in this Agreement, Recipient shall be entitled to withhold
from any payments to Provider any such Taxes that Recipient is required by applicable Law to withhold and shall pay such Taxes to the applicable Taxing Authority. 

Section 4.04. No Set-Off. Except as mutually agreed in writing by the
Parties, no Party nor any member of its Group shall have any right of set-off or other similar rights with respect to (a) any amounts received pursuant to this Agreement or (b) any other amounts
claimed to be owed to the other Party or any of member of its Group arising out of this Agreement. 
 ARTICLE V 

TERM AND TERMINATION 

Section 5.01. Term. This Agreement shall commence at the Effective Time and shall terminate upon the earliest to
occur of (a) the last date on which either Party is obligated to provide any Service to the other Party in accordance with the terms of this Agreement; and (b) the mutual written agreement of the Parties to terminate this Agreement in its
entirety. Unless otherwise terminated pursuant to Section 5.02, this Agreement shall terminate with respect to each Service as of 11:59 p.m. Eastern Time on the last day of the Service Period for such Service. Prior to the
termination date for any Service, the Parties may, by mutual written consent extend the Service Period for such Service as mutually agreed by the Parties. To the extent that Provider’s ability to provide a Service is dependent on the
continuation of a specified Service, Provider’s obligation to provide such dependent Service shall terminate automatically with the termination of such supporting Service. 

Section 5.02. Early Termination. 

(a) Without prejudice to Recipient’s rights with respect to Force Majeure, Recipient may from time to time terminate this
Agreement with respect to the entirety of any Service (but not any portion thereof) (i) for any reason or no reason, upon the giving of at least thirty (30) days’ prior written notice to Provider; provided, however, that
such termination shall be subject to the obligation to pay any applicable Termination Charges pursuant to Section 5.05, or (ii) if Provider has failed to perform any of its material obligations under this Agreement
with respect to such Service, and such failure shall continue to be uncured by Provider for a period of at least thirty (30) days after receipt by Provider of written notice of such failure from Recipient; provided, however, that
Recipient shall not be entitled to terminate this Agreement with respect to the applicable Service if, as of the end of such period, there remains a good faith Dispute between the Parties (undertaken in accordance with the terms of
Section 9.15) as to whether Provider has cured the applicable breach. 

  
 10 

 (b) Provider may terminate this Agreement with respect to the entirety of
any Service (but not any portion thereof) at any time upon prior written notice to Recipient, if Recipient has failed to perform any of its material obligations under this Agreement with respect to such Service, including making payment of Charges
when due, and such failure shall continue to be uncured by Recipient for a period of at least thirty (30) days after receipt by Recipient of a written notice of such failure from Provider; provided, however, that Provider shall
not be entitled to terminate this Agreement with respect to the applicable Service if, as of the end of such period, there remains a good faith Dispute between the Parties (undertaken in accordance with the terms of
Section 9.15) as to whether Recipient has cured the applicable breach. 
 Section 5.03.
Reduction of Services. Recipient may from time to time request a reduction in part of the scope of any Service. If requested to do so by Recipient, the Parties shall discuss in good faith appropriate adjustments to the relevant Charges. If,
after such discussions, the Parties do not mutually agree on any requested reduction of the scope of any Service and the relevant Charges in connection therewith, then (a) there shall be no change to the Charges under this Agreement and
(b) unless the Parties otherwise agree in writing, there shall be no change to the scope of any Services under this Agreement. If, after such discussions, the Parties mutually agree to any reduction of Service, Schedule A and/or
Schedule B, as applicable, shall be appropriately supplemented to reflect such reduction in Service. 

Section 5.04. Interdependencies. The Parties acknowledge that there may be interdependencies among the Services
being provided under this Agreement that may not be identified on Schedule A or Schedule B, as applicable, and agree that, if the Service Provider’s ability to provide a particular Service in accordance with this Agreement is
materially and adversely affected by the termination of another Service in accordance with Section 5.02, then the Parties shall negotiate in good faith (prior to such termination) to amend Schedule A or Schedule
B, as applicable, relating to such affected continuing Service and (ii) if after such negotiation, the Parties are unable to agree on such amendment, Provider’s obligation to provide such affected continuing Service shall, instead,
terminate automatically with the termination of another Service in accordance with Section 5.02. 

Section 5.05. Effect of Termination. Upon the termination of any Service pursuant to this Agreement, Provider
shall have no further obligation to provide the terminated Service, and Recipient shall have no obligation to pay any future Charges or other amounts relating to such Service provided, however, that Recipient shall remain obligated to
Provider for (a) the Charges and any other amounts owed and payable in respect of Services provided prior to the effective date of termination for such Service and (b) solely in the case of when Recipient terminates any Service pursuant to
Section 5.02(a)(i), any applicable Termination Charges. In the event that any Service is terminated other than at the end of a month, and the Charge associated with such Service is determined on a monthly basis, Provider
shall bill Recipient on a pro rata basis based on the number of days in the current calendar month that Recipient used such Service. In connection with the termination of any Service, the provisions of this Agreement not relating solely to such
terminated Service shall survive any such termination, and in connection with a termination of this Agreement, Article I, this Article V, Article VII, and Article VIII and all Liability for all due and unpaid Charges and
other amounts and Termination Charges shall continue to survive indefinitely. 

  
 11 

 Section 5.06. Information Transmission. Provider, on behalf of
itself and its Group Members, shall use commercially reasonable efforts to provide or make available, or cause to be provided or made available, to Recipient, in accordance with Section 6.01 of the Separation Agreement, any
Information received or computed by Provider for the benefit of Recipient concerning the relevant Service during the Service Period; provided, however, that, except as otherwise agreed in writing by the Parties, (a) Provider and
its Subsidiaries shall be reimbursed for their reasonable costs in accordance with Section 6.03 of the Separation Agreement for creating, gathering, copying, transporting and otherwise providing such Information and
(b) Provider shall use commercially reasonable efforts to maintain any such Information in accordance with Section 6.04 of the Separation Agreement. 

ARTICLE VI 
 ACCESS; SYSTEM
SECURITY 
 Section 6.01. Access. 

(a) Recipient shall provide (or cause any applicable member of its Group to provide) to Provider (or any applicable member of
its Group to provide) such reasonable access, during regular business hours, to the employees, representatives, facilities and books and records of Recipient (or such member of its Group) as Provider (or such member of its Group) shall
reasonably request in order to enable Provider (or such member of its Group) to provide any applicable Services required under this Agreement. Provider shall (and shall cause any applicable member of its Group to) conform with and abide by the
confidentiality and security provisions in Section 6.02 and Article VII, as applicable, in connection with such access. 

(b) Each Party shall (and shall cause the members of its Group and its personnel and the personnel of its Affiliates and Sub-Contractors providing or receiving Services to), when on the property of the other Party or any of its Group Members, or when given access to any facilities, infrastructure or personnel of the other Party or any
of its Group Members, follow applicable Laws and all of the other Party’s policies and procedures concerning health, safety, conduct and security which are made known to the Party receiving such access from time to time. 

Section 6.02. System Security.

(a) If any Party or any of its Group members is given access to the other Party’s (or such other Party’s Group
Members) computer systems or software (collectively, the “Systems”) in connection with provision of any Services, the Party and/or its Group Members given access (the “Accessing Party”) shall comply with all of the
other Party’s system security policies, procedures and requirements that have been provided to the Accessing Party in advance and in writing (collectively, “Security Regulations”), and shall not tamper with, compromise or
circumvent any security or audit measures employed by such other Party (or such other Party’s Group Members). The Accessing Party shall access and use only those Systems of the other Party (or such other Party’s Group Members) or only the
component, module, area or portion of any such system, where applicable, to which it has been granted the right of access and use. 

(b) Each Party shall use commercially reasonable efforts to ensure that only those of its personnel (or the personnel of such
Party’s Group Members) who are specifically authorized to have access to the Systems of the other Party (or such other Party’s Group Members) gain such access, and use commercially reasonable efforts to prevent unauthorized access, use,
destruction, alteration or loss of information contained therein, including notifying its personnel of the restrictions set forth in this Agreement and of the Security Regulations. 

  
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 (c) If, at any time, the Accessing Party determines that any of its
personnel has sought to circumvent, or has circumvented, the Security Regulations, that any unauthorized Accessing Party personnel has accessed the Systems, or that any of its personnel has engaged in activities that may lead to the unauthorized
access, use, destruction, alteration or loss of data, information or software of the other Party (or such other Party’s Group Members), the Accessing Party shall promptly terminate any such Person’s access to the Systems and immediately
notify the other Party. In addition, in such case such other Party shall have the right to deny personnel of the Accessing Party access to its Systems upon written notice to the Accessing Party. The Accessing Party shall use commercially reasonable
efforts to cooperate with the other Party in investigating any apparent unauthorized access to such other Party’s Systems. 
 ARTICLE
VII 
 CONFIDENTIALITY; PROTECTIVE ARRANGEMENTS 

Section 7.01. Confidentiality. Each Party agrees that the specific terms and conditions of this Agreement and any
information conveyed or otherwise received by or on behalf of a Party in conjunction herewith shall be Confidential Information subject to the confidentiality provisions (and exceptions thereto) set forth in Section 6.09 of
the Separation Agreement. 
 Section 7.02. Privacy and Data Protection Laws. Each Party shall comply in all
material respects with all applicable state, federal and foreign privacy and data protection Laws that are applicable to the provision of the Services under this Agreement. 

ARTICLE VIII 
 LIMITED LIABILITY
AND INDEMNIFICATION 
 Section 8.01. Limitations on Liability. 

(a) THE LIABILITIES OF PROVIDER AND ITS GROUP MEMBERS AND THEIR RESPECTIVE REPRESENTATIVES, COLLECTIVELY, UNDER THIS AGREEMENT
FOR ANY ACT OR FAILURE TO ACT IN CONNECTION HEREWITH (INCLUDING THE PERFORMANCE OR BREACH OF THIS AGREEMENT), OR FROM THE SALE, DELIVERY, PROVISION OR USE OF ANY SERVICES PROVIDED UNDER OR CONTEMPLATED BY THIS AGREEMENT, WHETHER IN CONTRACT, TORT
(INCLUDING NEGLIGENCE AND STRICT LIABILITY) OR OTHERWISE, SHALL NOT EXCEED THE AGGREGATE AMOUNT OF CHARGES PAID AND PAYABLE TO SUCH PROVIDER FOR ALL SERVICES BY THE RECIPIENT PURSUANT TO THIS AGREEMENT. 

(b) IN NO EVENT SHALL EITHER PARTY, ANY MEMBER OF ITS GROUP OR ANY OF THEIR RESPECTIVE REPRESENTATIVES HAVE ANY LIABILITY TO
THE OTHER PARTY OR ANY MEMBER OF ITS GROUP OR ANY OF THEIR RESPECTIVE REPRESENTATIVES UNDER THIS AGREEMENT FOR ANY INDIRECT, INCIDENTAL, CONSEQUENTIAL, SPECIAL, PUNITIVE, EXEMPLARY, REMOTE, SPECULATIVE OR SIMILAR DAMAGES IN EXCESS OF COMPENSATORY
DAMAGES 

  
 13 

 
OF THE OTHER PARTY (INCLUDING LOST PROFITS OR LOST REVENUES) IN CONNECTION WITH THE SALE, DELIVERY, PROVISION OR USE OF OR FAILURE TO PROVIDE SERVICES PROVIDED UNDER OR CONTEMPLATED BY THIS
AGREEMENT (OTHER THAN ANY SUCH LIABILITY WITH RESPECT TO A THIRD-PARTY CLAIM), AND EACH PARTY HEREBY WAIVES ON BEHALF OF ITSELF, ITS GROUP MEMBERS AND ITS REPRESENTATIVES ANY CLAIM FOR SUCH DAMAGES, WHETHER ARISING IN CONTRACT, TORT OR OTHERWISE.

 (c) The limitations in Section 8.01(a) and Section 8.01(b) shall not
apply in respect of any Liability arising out of or in connection with (i) either Party’s Liability for breaches of confidentiality under Article VII, (ii) the Parties’ respective obligations under
Section 8.03 or 8.04 or (iii) the willful misconduct, gross negligence or fraud of or by the Party to be charged. 

Section 8.02. Obligation to Re-Perform; Liabilities. In the event of any
breach of this Agreement by Provider with respect to the provision of any Services (with respect to which Provider can reasonably be expected to re-perform in a commercially reasonable manner), Provider shall,
at the request of Recipient, promptly correct in all material respects such error, defect or breach or re-perform in all material respects such Services at the sole cost and expense of Provider. The remedy set
forth in this Section 8.02 shall be the sole and exclusive remedy of Recipient for any such breach of this Agreement with respect to the provision of such Services; provided, however, that the foregoing shall
not prohibit Recipient from exercising its right to terminate this Agreement in accordance with the provisions of Section 5.02(a)(ii) or to seek specific performance in accordance with Section 9.16
or to seek and obtain indemnification under Section 8.04. Any request for re-performance in accordance with this Section 8.02 by Recipient must be in writing
and specify in reasonable detail the particular error, defect or breach, and such request must be made no more than thirty (30) days from the later of (a) the date on which such breach occurred and (b) the date on which such breach
was reasonably discovered by Recipient. 
 Section 8.03. Third-Party Claims. Recipient shall indemnify, defend
and hold harmless Provider, its Group Members and each of their respective Representatives, and each of the successors and assigns of any of the foregoing (collectively, the “Provider Indemnitees”), from and against any and all
claims of Third Parties relating to, arising out of or resulting from Recipient’s use or receipt of the Services provided by Provider hereunder, other than Third-Party Claims arising out of Provider’s breaches of its obligations under
Article VII or the gross negligence, willful misconduct or fraud of any Provider Indemnitee. 
 Section 8.04.
Provider Indemnity. Provider shall indemnify, defend and hold harmless Recipient, its Group Members and each of their respective Representatives, and each of the successors and assigns of any of the foregoing (collectively, the
“Recipient Indemnitees”), from and against any and all Liabilities relating to, arising out of or resulting from the sale, delivery or provision of any Services provided by Provider hereunder, but only to the extent that such
Liability relates to, arises out of or results from Provider’s breaches of its obligations under Articles VII, gross negligence, willful misconduct or fraud. 

  
 14 

 Section 8.05. Indemnification Procedures. The procedures for
indemnification set forth in Sections 5.05, 5.06 and 5.07 of the Separation Agreement shall govern claims for indemnification under this Agreement. 

Section 8.06. Liability for Payment Obligations. Nothing in this Article VIII shall be deemed to eliminate
or limit, in any respect, any Party’s express obligation in this Agreement to pay Charges, Termination Charges or other specified reimbursements for Services rendered in accordance with this Agreement. 

Section 8.07. Exclusions of Other Remedies. Without limiting the rights under
Section 9.16, the provisions of Sections 8.02, 8.03 and 8.04 shall, to the maximum extent permitted by applicable Law, be the sole and exclusive remedies of the Provider Indemnitees and the Recipient
Indemnitees, as applicable, for any Liability, whether arising from statute, principle of common or civil law, principles of strict liability, tort, contract or otherwise under this Agreement. 

ARTICLE IX 
 MISCELLANEOUS 

Section 9.01. Further Assurances. Subject to the limitations or other provisions in this Agreement, each of the
Parties shall, and shall cause each of its respective Group Members to, use commercially reasonable efforts, to take, or cause to be taken, all actions, and to do, or cause to be done, all things, reasonably necessary, proper or advisable under
applicable Laws and agreements to consummate and make effective the transactions contemplated by this Agreement; provided, however, that neither Party (nor any of their respective Group Members) shall be obligated under this
Section 9.01 to pay any consideration, grant any concession or incur any additional Liability to any Third Party. 

Section 9.02. Title to Intellectual Property. Except as expressly provided for under the terms of this Agreement
or the Separation Agreement, Recipient acknowledges that it shall acquire no right, title or interest (including any license rights or rights of use) in any intellectual property that is owned or licensed by Provider, by reason of the provision of
the Services hereunder. Recipient shall not remove or alter any copyright, trademark, confidentiality or other proprietary notices that appear on any intellectual property owned or licensed by Provider, and Recipient shall reproduce any such notices
on any and all copies thereof. Recipient shall not attempt to decompile, translate, reverse engineer or make excessive copies of any intellectual property owned or licensed by Provider, and Recipient shall promptly notify Provider of any such
attempt, regardless of whether by Recipient or any Third Party, of which Recipient becomes aware. 
 Section 9.03.
Independent Contractors. The Parties each acknowledge and agree that they are separate entities, each of which has entered into this Agreement for independent business reasons. The relationships of the Parties hereunder are those of
independent contractors and nothing contained herein shall be deemed to create a joint venture, partnership or any other relationship between the Parties. Employees performing Services hereunder do so on behalf of, under the direction of, and as
employees of, Provider, and Recipient shall have no right, power or authority to direct such employees, unless otherwise specified with respect to a particular Service on the Schedules hereto. 

  
 15 

 Section 9.04. Group Members. SpinCo shall cause to be performed,
and hereby guarantees the performance of, all actions, agreements and obligations set forth herein to be performed by a SpinCo Group Member and RemainCo shall cause to be performed, and hereby guarantees the performance of, all actions, agreements
and obligations set forth herein to be performed by a RemainCo Group Member. 
 Section 9.05. Counterparts; Entire
Agreement; Corporate Power. 
 (a) This Agreement may be executed in one (1) or more counterparts, all of which
shall be considered one (1) and the same agreement, and shall become effective when one (1) or more counterparts have been signed by each of the Parties and delivered to the other Party. Each Party acknowledges and agrees that delivery of
an executed counterpart of a signature page to this Agreement (whether executed by manual, stamp or mechanical signature) by facsimile or by email in portable document format (PDF) shall be effective as delivery of such executed counterpart of this
Agreement or any Ancillary Agreement. Each Party expressly adopts and confirms a stamp or mechanical signature (regardless of whether delivered in person, by mail, by courier, by facsimile or by email in portable document format (PDF)) made in its
respective name as if it were a manual signature delivered in person, agrees that it shall not assert that any such signature or delivery is not adequate to bind it to the same extent as if it were signed manually and delivered in person and agrees
that, at the reasonable request of the other Party at any time, it shall as promptly as reasonably practicable cause this Agreement to be manually executed (any such execution to be as of the date of the initial date hereof) and delivered in person,
by mail or by courier. 
 (b) This Agreement, the Separation Agreement and the other Ancillary Agreements and the Exhibits,
Schedules and annexes hereto and thereto contain the entire agreement between the Parties with respect to the subject matter hereof, supersede all previous agreements, negotiations, discussions, writings, understandings, commitments and
conversations with respect to such subject matter, and there are no agreements or understandings between the Parties other than those set forth or referred to herein or therein. 

(c) Parent represents on behalf of itself and, to the extent applicable, each other Parent Group Member, and SpinCo represents
on behalf of itself and, to the extent applicable, each other SpinCo Group Member, as follows: 
 (i) each
such Person has the requisite corporate or other power and authority and has taken all corporate or other action necessary in order to execute, deliver and perform this Agreement and to consummate the transactions contemplated hereby; and 

(ii) this Agreement has been duly executed and delivered by it and constitutes a valid and binding agreement of
it and is enforceable in accordance with the terms hereof. 

  
 16 

 Section 9.06. Governing Law. This Agreement (and any claims or
disputes arising out of or related hereto or to the transactions contemplated hereby or to the inducement of any Party to enter herein, whether for breach of contract, tortious conduct or otherwise and whether predicated on common law, statute or
otherwise) shall be governed by and construed and interpreted in accordance with the Laws of the State of Georgia, irrespective of the choice of Laws principles of the State of Georgia, including all matters of validity, construction, effect,
enforceability, performance and remedies. 
 Section 9.07. Assignability. This Agreement shall inure to the
benefit of and be binding upon the Parties and their respective successors and permitted assigns. Neither this Agreement or any of the rights, interests, or obligations hereunder or thereunder may be assigned or delegated, in whole or in part, by
operation of Law or otherwise, by any Party without the prior written consent of the other Party, and any such assignment without such prior written consent shall be null and void. No such consent shall be required for the assignment of a
Party’s rights and obligations under this Agreement if: (a) any Party (or any of its successors or permitted assigns) (i) shall consolidate with or merge into any other Person and shall not be the continuing or surviving Business
Entity of such consolidation or merger or (ii) shall transfer all or substantially all of its properties and/or Assets to any Person, and (b) in any such case, the resulting, surviving or assignee Person expressly assumes all of the
obligations of the relevant party (or its successors or permitted assigns, as applicable) under this Agreement. No assignment permitted by this Section 9.07 shall release the assigning party from any Liability for the full
performance of its obligations under this Agreement. 
 Section 9.08. Third-Party Beneficiaries. Except as
provided in Article VIII with respect to the Provider Indemnitees and the Recipient Indemnitees in their respective capacities as such, (a) the provisions of this Agreement are solely for the benefit of the Parties and are not intended
to confer upon any other Person except the Parties any rights or remedies hereunder; and (b) there are no other third-party beneficiaries of this Agreement and this Agreement shall not provide any other Third Party with any remedy, claim,
Liability, reimbursement, claim of action or other right in excess of those existing without reference to this Agreement. 

Section 9.09. Notices. Except as specifically set forth in this Agreement, all notices, requests, claims, demands
or other communications under this Agreement shall be in writing and shall be given or made (and except as provided herein shall be deemed to have been duly given or made upon receipt) by delivery in person, by overnight courier service, by
certified mail, return receipt requested, by facsimile, or by electronic mail (“e-mail”), so long as confirmation of receipt of such e-mail is
requested, to the respective Parties at the following addresses (or at such other address for a Party as shall be specified in a notice given in accordance with this Section 9.09): 

If to RemainCo, to: 

PROG Holdings, Inc. 

256 W. Data Drive 

Draper, Utah 84020 

Attn: Marvin Fentress 

Email: marvin.fentress@progleasing.com 

  
 17 

 If to SpinCo to: 

The Aaron’s Company, Inc. 

400 Galleria Parkway SE, Suite 300 

Atlanta, Georgia 30339 

Attn: Rachel George 

Email: rachel.george@aarons.com 

Either Party may, by notice to the other Party, change the address to which such notices are to be given. 

Section 9.10. Severability. If any provision of this Agreement or the application thereof to any Person or
circumstance is determined by a court of competent jurisdiction to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other term or provision of this Agreement, or the
application of such term or provision to Persons or circumstances or in jurisdictions other than those as to which it has been determined to be invalid, illegal or unenforceable, and the Parties shall use their commercially reasonable efforts to
substitute one or more valid, legal and enforceable terms or provisions into this Agreement which, insofar as practicable, implement the purposes and intent of the Parties. Any term or provision of this Agreement held invalid or unenforceable only
in part, degree or within certain jurisdictions shall remain in full force and effect to the extent not held invalid or unenforceable to the extent consistent with the intent of the Parties as reflected by this Agreement. To the extent permitted by
applicable Law, each Party waives any term or provision of Law which renders any term or provision of this Agreement to be invalid, illegal or unenforceable in any respect. 

Section 9.11. Force Majeure. No Party shall be deemed in default of this Agreement for any delay or failure to
fulfill any obligation hereunder so long as and to the extent to which any delay or failure in the fulfillment of such obligations is prevented, frustrated, hindered or delayed as a consequence of circumstances of Force Majeure. Without limiting the
termination rights contained in this Agreement, in the event of any such excused delay, the time for performance shall be extended for a period equal to the time lost by reason of the delay. A Party claiming the benefit of this provision shall, as
soon as reasonably practicable after the occurrence of any such Force Majeure, (a) provide written notice to the other Party of the nature and extent of such Force Majeure condition; and (b) use commercially reasonable efforts to remove
any such causes and resume performance under this Agreement as soon as reasonably practicable, unless this Agreement has previously been terminated under Article V or this Section 9.11; provided, that, prior
to any Party invoking the benefit of this provision as a result of a Force Majeure with respect to the COVID-19 pandemic, such Party shall use commercially reasonable efforts to mitigate the impact of the COVID-19 pandemic with respect to its failure or potential failure to fulfill any obligation under this Agreement. Recipient shall be (i) relieved of the obligation to pay Charges for the affected Service(s)
throughout the duration of such Force Majeure and (ii) entitled to permanently terminate such Service(s) if the delay or failure in providing such Services because of a Force Majeure shall continue to exist for more than thirty
(30) consecutive days (it being understood that Recipient shall not be required to provide any advance notice of such termination to Provider). 

  
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 Section 9.12. Headings. The Article, Section and Paragraph
headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement. 

Section 9.13. Survival of Covenants. Except as expressly set forth in this Agreement, the covenants,
representations and warranties and other agreements contained in this Agreement, and Liability for the breach of any obligations contained herein, shall survive the Separation and Distribution and shall remain in full force and effect thereafter.

 Section 9.14. Waivers of Default. No failure or delay of any Party in exercising any right or remedy under
this Agreement shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such right or power, or any course of conduct, preclude any other or
further exercise thereof or the exercise of any other right or power. Waiver by any Party of any default by the other Party of any provision of this Agreement shall not be deemed a waiver by the waiving Party of any subsequent or other default, nor
shall it prejudice the rights of the waiving Party. 
 Section 9.15. Dispute Resolution. 

(a) In the event of any controversy, dispute or claim (a “Dispute”) arising out of or relating to any
Party’s rights or obligations under this Agreement (whether arising in contract, tort or otherwise), calculation or allocation of the costs of any Service or otherwise arising out of or relating in any way to this Agreement (including the
interpretation or validity of this Agreement), such Dispute shall be resolved by submitting such Dispute first to the relevant Contract Manager of each Party, and the Contract Managers shall seek to resolve such Dispute through informal good faith
negotiation. In the event that the Contract Managers fail to meet or, if they meet and fail to resolve a Dispute within twenty (20) Business Days, then either Party may pursue the remedy set forth in Section 9.15(b).

 (b) If the procedures set forth in Section 9.15(a) have been followed with respect to a Dispute
and such Dispute remains unresolved, such Dispute shall be resolved in accordance with the dispute resolution process referred to in Article XI of the Separation Agreement. 

(c) In any Dispute regarding the amount of a Charge or a Termination Charge, if such Dispute is finally resolved pursuant to
the dispute resolution process set forth or referred to in Sections 9.15(a) and (b) and it is determined that the Charge or the Termination Charge, as applicable, that Provider has invoiced Recipient, and that Recipient has paid
to Provider, is greater or less than the amount that the Charge or the Termination Charge, as applicable, should have been, then (i) if it is determined that Recipient has overpaid the Charge or the Termination Charge, as applicable, Provider
shall within ten (10) calendar days after such determination reimburse Recipient an amount of cash equal to such overpayment, plus the Interest Payment, accruing from the date of payment by Recipient to the time of reimbursement by Provider;
and (ii) if it is determined that Recipient has underpaid the Charge or the Termination Charge, as applicable, Recipient shall within ten (10) calendar days after such determination reimburse Provider an amount of cash equal to such
underpayment, plus the Interest Payment, accruing from the date such payment originally should have been made by Recipient to the time of payment by Recipient. 

  
 19 

 Section 9.16. Specific Performance. Subject to
Section 9.15, in the event of any actual or threatened default in, or breach of, any of the terms, conditions and provisions of this Agreement, the Party or Parties who are, or are to be, thereby aggrieved shall have the
right to specific performance and injunctive or other equitable relief (on an interim or permanent basis) in respect of its rights or their rights under this Agreement, in addition to any and all other rights and remedies at law or in equity, and
all such rights and remedies shall be cumulative. The Parties agree that the remedies at law for any breach or threatened breach are inadequate compensation for any loss and that any defense in any Action for specific performance that a remedy at
law would be adequate is waived. Any requirements for the securing or posting of any bond with such remedy are hereby waived by each of the Parties. Unless otherwise agreed in writing, Provider shall continue to provide Services and the Parties
shall honor all other commitments under this Agreement during the course of dispute resolution pursuant to the provisions of Section 9.15 and this Section 9.16 with respect to all matters not
subject to such Dispute; provided, however, that this obligation shall only exist during the term of this Agreement. 

Section 9.17. Amendments. No provisions of this Agreement shall be deemed waived, amended, supplemented or
modified by a Party, unless such waiver, amendment, supplement or modification is in writing and signed by the authorized representative of the Party against whom enforcement of such waiver, amendment, supplement or modification is sought. 

Section 9.18. Precedence of Schedules. Each Schedule attached to or referenced in this Agreement is hereby
incorporated into and shall form a part of this Agreement; provided, however, that the terms contained in such Schedule shall only apply with respect to the Services provided under that Schedule. In the event of a conflict between the
terms contained in an individual Schedule and the terms in the body of this Agreement, the terms in the Schedule shall take precedence with respect to the Services under such Schedule only. No terms contained in individual Schedules shall otherwise
modify the terms of this Agreement. 
 Section 9.19. Interpretation. In this Agreement, (a) words in the
singular shall be deemed to include the plural and vice versa and words of one gender shall be deemed to include the other gender as the context requires; (b) the terms “hereof,” “herein” and “herewith” and words
of similar import, unless otherwise stated, shall be construed to refer to this Agreement as a whole (including all of the Schedules hereto) and not to any particular provision of this Agreement; (c) Article, Section or Schedule references are
to the Articles, Sections and Schedules of or to this Agreement, unless otherwise specified; (d) unless otherwise stated, all references to any agreement (including this Agreement) shall be deemed to include the schedules, exhibits and annexes
to such agreement; (e) any capitalized terms used in any Schedule to this Agreement but not otherwise defined therein shall have the meaning as defined in this Agreement; (f) any reference herein to this Agreement, unless otherwise stated,
shall be construed to refer to this Agreement as amended, supplemented or otherwise modified from time to time, in accordance with the terms thereof; (g) the word “including” and words of similar import when used in this Agreement
means “including, without limitation,” unless otherwise specified; (h) unless otherwise specified, the word “or” shall not be exclusive; (i) unless 

  
 20 

 
otherwise specified in a particular case, the word “days” refers to calendar days; and (j) unless expressly stated to the contrary in this Agreement, all references to “the
date hereof”, “the date of this Agreement”, “hereby” and “hereupon” and words of similar import shall all be references to November 29, 2020. 

Section 9.20. Mutual Drafting. This Agreement shall be deemed to be the joint work product of the Parties and any
rule of construction that a document shall be interpreted or construed against a drafter of such document shall not be applicable to this Agreement. 

[Remainder of page intentionally left blank] 

  
 21 

 IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed by
their duly authorized representatives as of the date first written above. 
  

					
	 AARON’S HOLDINGS COMPANY, INC.

		
	 By:
	 	 /s/ Steven A. Michaels

		 	 Name:
	 	 Steven A. Michaels

		 	 Title:
	 	 Chief Executive Officer, Progressive Leasing

	
	 THE AARON’S COMPANY, INC.

		
	 By:
	 	 /s/ Douglas A. Lindsay

		 	 Name:
	 	 Douglas A. Lindsay

		 	 Title:
	 	 Chief Executive Officer

 [Signature Page to Transition Services Agreement]EX-10.2

 Exhibit 10.2 

Execution Version 

TAX MATTERS AGREEMENT 

By and Among 

AARON’S HOLDINGS COMPANY, INC. 

and 
 THE AARON’S
COMPANY, INC. 

 TABLE OF CONTENTS 

 

							
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	 ARTICLE I DEFINITION OF TERMS
	  	 	2	 
		
	 ARTICLE II PREPARATION AND FILING OF TAX RETURNS
	  	 	10	 
			
	 Section 2.1
	 	Consolidated Returns	  	 	10	 
	 Section 2.2
	 	Separate Entity Tax Returns	  	 	10	 
	 Section 2.3
	 	Tax Reporting Practices	  	 	11	 
	 Section 2.4
	 	Right to Review Tax Returns	  	 	12	 
	 Section 2.5
	 	Carrybacks and Amended Tax Returns	  	 	13	 
	 Section 2.6
	 	Apportionment of Tax Attributes	  	 	14	 
	 Section 2.7
	 	Coordination	  	 	15	 
		
	 ARTICLE III ALLOCATION OF TAX LIABILITIES
	  	 	15	 
			
	 Section 3.1
	 	General Rule	  	 	15	 
	 Section 3.2
	 	Attribution of Taxes	  	 	15	 
		
	 ARTICLE IV TAX PAYMENTS
	  	 	16	 
			
	 Section 4.1
	 	Payment of Amounts Due	  	 	16	 
	 Section 4.2
	 	Treatment of Indemnification and Other Payments	  	 	17	 
		
	 ARTICLE V TAX REFUNDS
	  	 	18	 
			
	 Section 5.1
	 	Tax Refunds	  	 	18	 
		
	 ARTICLE VI DEDUCTION AND REPORTING OF EMPLOYEE AWARDS
	  	 	18	 
			
	 Section 6.1
	 	HoldCo and SpinCo Income Tax Deductions in Respect of Certain Equity Awards and Compensation	  	 	18	 
		
	 ARTICLE VII TAX-FREE STATUS
	  	 	18	 
			
	 Section 7.1
	 	Representations and Warranties	  	 	18	 
	 Section 7.2
	 	Restrictions on SpinCo	  	 	19	 
	 Section 7.3
	 	Opinions and Rulings	  	 	20	 
	 Section 7.4
	 	Procedures Regarding Opinions and Rulings	  	 	20	 
	 Section 7.5
	 	Protective 336(e) Election	  	 	21	 
		
	 ARTICLE VIII REPORTING, COOPERATION AND RECORD RETENTION
	  	 	21	 
			
	 Section 8.1
	 	Assistance and Cooperation	  	 	21	 
	 Section 8.2
	 	Return Information	  	 	22	 
	 Section 8.3
	 	Non-Performance	  	 	22	 
	 Section 8.4
	 	Costs	  	 	22	 
	 Section 8.5
	 	Retention of Tax Records	  	 	22	 
	 Section 8.6
	 	Access to Tax Records	  	 	23	 
		
	 ARTICLE IX TAX PROCEEDINGS
	  	 	23	 
			
	 Section 9.1
	 	Notice	  	 	23	 
	 Section 9.2
	 	Control of Tax Proceedings	  	 	23	 

  
 i 

							
		
	 ARTICLE X INTEREST PAYMENTS
	  	 	25	 
			
	 Section 10.1
	 	Interest Under This Agreement	  	 	25	 
		
	 ARTICLE XI DISAGREEMENTS
	  	 	26	 
			
	 Section 11.1
	 	Interaction with Article IX of the Separation Agreement	  	 	26	 
	 Section 11.2
	 	Discussion	  	 	26	 
	 Section 11.3
	 	Referral to Independent Arbiter	  	 	26	 
		
	 ARTICLE XII TERM AND COSTS
	  	 	27	 
			
	 Section 12.1
	 	Effective Date	  	 	27	 
	 Section 12.2
	 	Survival	  	 	27	 
	 Section 12.3
	 	Expenses	  	 	27	 
	 Section 12.4
	 	Payments	  	 	27	 
	 Section 12.5
	 	Interest	  	 	27	 
		
	 ARTICLE XIII GENERAL PROVISIONS
	  	 	28	 
			
	 Section 13.1
	 	Counterparts; Entire Agreement; Conflicts; Corporate Power	  	 	28	 
	 Section 13.2
	 	Governing Law	  	 	28	 
	 Section 13.3
	 	Assignability	  	 	29	 
	 Section 13.4
	 	Third-Party Beneficiaries	  	 	29	 
	 Section 13.5
	 	Notices	  	 	29	 
	 Section 13.6
	 	Severability	  	 	30	 
	 Section 13.7
	 	Headings	  	 	30	 
	 Section 13.8
	 	Waivers of Default	  	 	30	 
	 Section 13.9
	 	Consent to Jurisdiction	  	 	30	 
	 Section 13.10
	 	Specific Performance	  	 	31	 
	 Section 13.11
	 	Amendments	  	 	31	 
	 Section 13.12
	 	Interpretation	  	 	31	 
	 Section 13.13
	 	Group Members	  	 	31	 
	 Section 13.14
	 	Force Majeure	  	 	32	 
	 Section 13.15
	 	Mutual Drafting	  	 	32	 
	 Section 13.16
	 	No Reliance on Other Party	  	 	32	 
	 Section 13.17
	 	Limited Liability	  	 	32	 
	 Section 13.18
	 	No Set-Off	  	 	32	 
	 Section 13.19
	 	Waiver of Trial	  	 	33	 
	 Section 13.20
	 	HoldCo or SpinCo Affiliates	  	 	33	 

  
 ii 

 TAX MATTERS AGREEMENT 

This TAX MATTERS AGREEMENT (this “Agreement”) is made and entered into as of November 29, 2020, by and
among Aaron’s Holdings Company, Inc., a Georgia corporation (“HoldCo”), and The Aaron’s Company, Inc., a Georgia corporation and a wholly owned subsidiary of Holdco (“SpinCo” and together with HoldCo, the
“Parties,” and each a “Party”). Any capitalized term used herein without definition shall have the meaning given to it in the Separation Agreement, dated as of the date hereof, by and between Aaron’s, Inc., a
Georgia corporation, HoldCo and SpinCo (as such agreement may be amended from time to time, the “Separation Agreement”). 

RECITALS 

WHEREAS, the Board of Directors of HoldCo has determined that it is in the best interests of HoldCo and its shareholders to
separate the SpinCo Business from the Progressive Business and to divest the SpinCo Business in the manner contemplated by the Separation Agreement; 

WHEREAS, contemporaneously with this Agreement, HoldCo and SpinCo are entering into the Separation Agreement; 

WHEREAS, prior to the Distribution Time, and subject to the terms and conditions set forth in the Separation Agreement, HoldCo
will consummate the SpinCo Contribution, and following the SpinCo Contribution, HoldCo will distribute (the “Distribution”) all of the issued and outstanding shares of SpinCo’s common stock, $0.50 par value per share
(“SpinCo Common Stock”), to holders of HoldCo’s common stock, $0.50 par value per share (“HoldCo Common Stock”); 

WHEREAS, subject to the terms and conditions of the Separation Agreement, the Distribution shall be made without
consideration, by way of a pro rata dividend; 
 WHEREAS, it is the intention of the Parties that the SpinCo Contribution
and the Distribution, taken together, qualify as a reorganization described in Sections 368(a)(1)(D) and 355 of the Internal Revenue Code of 1986, as amended (the “Code”); and 

WHEREAS, the Parties wish to (i) provide for the payment of Tax liabilities and entitlement to refunds thereof, allocate
responsibility for, and cooperation in, the filing and defense of Tax Returns, and provide for certain other matters relating to Taxes and (ii) set forth certain covenants and indemnities relating to the preservation of the intended tax
treatment of certain transactions contemplated hereby and by the other Transaction Documents. 
 NOW, THEREFORE, in
consideration of these premises, and of the representations, warranties, covenants and agreements set forth herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereby agree
as follows: 

 ARTICLE I 

DEFINITION OF TERMS 

For purposes of this Agreement (including the recitals hereof), the following terms have the following meanings: 

“Action” means any claim, action, suit, arbitration, investigation or other Proceeding, in each case, by any
Person or Governmental Authority before any Governmental Authority. 
 “Active Business” means each of the
Progressive Business and the SpinCo Business. 
 “Affiliate” has the meaning set forth in the Separation
Agreement. 
 “Aaron’s Canada” means Aaron’s Canada, ULC, a Nova Scotia unlimited liability
company. 
 “AIC” means Aaron Investment Company, LLC, a Delaware limited liability company (which
converted from a corporation to a limited liability company in connection with the Separation). 
 “Ancillary
Agreement” has the meaning set forth in the Separation Agreement. 
 “Business Day” means a day
other than a Saturday, a Sunday or a day on which banking institutions located in Atlanta, Georgia are authorized or obligated by Law or executive order to close. 

“Capital Stock” means all classes or series of capital stock of a Person, including (i) common stock,
(ii) all options, warrants and other rights to acquire such capital stock and (iii) all instruments properly treated as stock in such Person for U.S. federal income tax purposes. 

“Combined Group” means any group that filed or was required to file (or will file or be required to file) a
Tax Return on an affiliated, consolidated, combined, unitary, fiscal unity or other group basis under any applicable Tax Law. 

“Combined Income Tax Return” means any Tax Return filed in respect of U.S. federal, state, local or non-U.S. Income Taxes for a Combined Group. 
 “Distribution Date” means
the date on which the Distribution is consummated. 
 “Distribution
Tax-Related Losses” means (a) all Distribution Taxes imposed pursuant to any settlement, Final Determination, judgment or otherwise and (b) all reasonable accounting, legal and other
professional fees and court costs incurred in connection with such Distribution Taxes, in each case, resulting from the failure of the Spin-Off to qualify for the Intended Tax Treatment. 

  
 2 

 “Distribution Taxes” means any and all Taxes required to be
paid by or imposed on HoldCo or any of its Affiliates resulting from, or directly arising in connection with, the failure of the Spin-Off to qualify for the Intended Tax Treatment. 

“Distribution Time” means the time established by HoldCo as the effective time of the Distribution, Eastern
Time, on the Distribution Date. 
 “Due Date” means (a) with respect to a Tax Return, the date (taking
into account all valid extensions) on which such Tax Return is required to be filed under applicable Law and (b) with respect to a payment of Taxes, the date on which such payment is required to be made, which shall in any case be no later than
the payment date required to avoid the incurrence of interest, penalties and additions to Tax. 
 “Extraordinary
Transaction” means any action that is not in the ordinary course of business, but shall not include any action expressly required or permitted by the Separation Agreement or any other Transaction Document or that is undertaken pursuant to
the Spin-Off. 
 “Final Determination” means the final resolution
of liability for any Tax, which resolution may be for a specific issue or adjustment or for a taxable period, (a) by IRS Form 870 or 870-AD (or any successor forms thereto), on the date of acceptance by
or on behalf of the taxpayer, or by a comparable form under the laws of a state, local, or non-U.S. taxing jurisdiction, except that a Form 870 or 870-AD or comparable
form shall not constitute a Final Determination to the extent that it reserves (whether by its terms or by operation of law) the right of the taxpayer to file a claim for refund or the right of the Tax Authority to assert a further deficiency in
respect of such issue or adjustment or for such taxable period (as the case may be); (b) by a decision, judgment, decree, or other order by a court of competent jurisdiction, which has become final and unappealable; (c) by a closing agreement
or accepted offer in compromise under Sections 7121 or 7122 of the Code, or a comparable agreement under the laws of a state, local, or non-U.S. taxing jurisdiction; (d) by any allowance of a refund or
credit in respect of an overpayment of Tax, but only after the expiration of all periods during which such refund may be recovered (including by way of offset) by the jurisdiction imposing such Tax; (e) by a final settlement resulting from a
treaty-based competent authority determination; or (f) by any other final disposition, including by reason of the expiration of the applicable statute of limitations or by mutual agreement of the Parties. 

“Force Majeure” has the meaning set forth in the Separation Agreement. 

“Group” means the HoldCo Group or the SpinCo Group or both such Groups, as the context requires. 

“HoldCo Consolidated Return” means any Combined Income Tax Return that includes any member of the HoldCo
Group. 
 “HoldCo Consolidated Taxes” means any U.S. federal Income Taxes attributable to any HoldCo
Consolidated Return. 
 “Holdco Entity” means any Subsidiary of HoldCo from and after the Distribution
Time. 

  
 3 

 “HoldCo Group” means, individually or collectively, as the
case may be, HoldCo and any HoldCo Entities. 
 “HoldCo Tainting Act” means (a) any action (or the
failure to take any action) within its control by HoldCo or any member of the HoldCo Group (including entering into any agreement, understanding or arrangement or any negotiations with respect to any transaction or series of transactions), (b) any
event (or series of events) involving the Capital Stock of HoldCo, any assets of HoldCo or any assets of any member of the HoldCo Group, or (c) any breach by HoldCo or any member of the HoldCo Group of any representation, warranty or covenant
made by such Person in this Agreement, in each case, that would affect the Intended Tax Treatment or otherwise cause the Spin-Off to fail to qualify for the Intended Tax Treatment, other than, in each case,
any action required by the Separation Agreement or any other Transaction Document or undertaken pursuant to the Distribution. 

“HoldCo Taxes” means, without duplication, and after accounting for any adjustment pursuant to a Final
Determination, (a) any HoldCo Consolidated Taxes, (b) any Income Taxes of (i) SpinCo or any member of the SpinCo Group for (A) any Pre-Distribution Period and (B) to the extent
attributable to assets or activities of the Progressive Business, as determined pursuant to Section 3.2, any Post-Distribution Period or (ii) HoldCo or a member of the HoldCo Group, but excluding in either case any
Taxes included in clause (a)(i) of the definition of SpinCo Taxes, (c) any Other Taxes of (i) SpinCo or any member of the SpinCo Group attributable to assets or activities of the Progressive Business, as determined pursuant to
Section 3.2, or (ii) HoldCo or a member of the HoldCo Group, but excluding in either case any Taxes included in clause (b)(i) of the definition of SpinCo Taxes, (d) any Taxes imposed on SpinCo or any member of the
SpinCo Group under Treasury Regulations Section 1.1502-6 (or any equivalent provision of other Tax Law) as a result of SpinCo or any member of the SpinCo Group being or having been included as part of, or
ceasing to be part of or owned by, a Combined Group with any Person that is not a member of the SpinCo Group on or prior to the Distribution Date, (e) subject to Section 3.1(c), any Taxes attributable to a HoldCo
Tainting Act, (f) any Taxes of HoldCo or any Subsidiary of HoldCo or former Subsidiary of HoldCo, including members of the SpinCo Group (each, immediately prior to the Distribution Time) attributable to the
Spin-Off (including the settlement of any intercompany transactions), and (g) any Transfer Taxes; provided, that HoldCo Taxes shall not include any Taxes included in clauses (c), (d) and
(e) of the definition of SpinCo Taxes. 
 “HoldCo Tax Opinion” means the tax opinion of the Tax
Advisor, described in Section 3.02(i) of the Separation Agreement, to the effect that the Spin-Off will qualify for the Intended Tax Treatment. 

“Income Tax Returns” means all Tax Returns that relate to Income Taxes. 

“Income Taxes” means all Taxes based upon, measured by, or calculated with respect to (i) net income or
profits (including any capital gains tax), (ii) multiple bases (including corporate franchise and business Taxes) if one or more bases upon which such Tax is determined is described in clause (i) above, and (iii) in each case, any such Tax
that is a minimum Tax. The term “Income Taxes” shall also include any Taxes that are (i) imposed by a jurisdiction for the privilege of doing business in such jurisdiction and (ii) based on gross revenue, gross receipts or
modified gross receipts (including the Ohio commercial activity tax, the Texas “margin” Tax and any similar Taxes imposed by any other jurisdiction, but excluding, for the avoidance of doubt, any sales or use Taxes). 

  
 4 

 “Intended Tax Treatment” means that (i) the Spinco
Contribution and Distribution, taken together, will qualify as a “reorganization” under Section 368(a)(1)(D) of the Code; (ii) no income, gain or loss will be recognized by HoldCo or SpinCo on the SpinCo Contribution and the
Distribution, or otherwise in connection with the Spin-Off, under Section 355, 361 or 1032 of the Code, as applicable, other than intercompany items or excess loss accounts taken into account pursuant to
Treasury Regulations promulgated pursuant to Section 1502 of the Code; and (iii) no income, gain or loss will be recognized by any holder of HoldCo Common Stock upon the receipt of SpinCo Common Stock in the Distribution (except with
respect to the receipt of cash in lieu of fractional share of SpinCo Common Stock, if any) under Section 355 of the Code. 

“IRS” means the United States Internal Revenue Service. 

“Law” means any U.S. or non-U.S. federal, national, supranational,
state, provincial, local or similar statute, law, ordinance, regulation, rule, code, administrative pronouncement, treaty, order, requirement or rule of law (including common law). 

“Mixed Business Tax Return” means any Separate Entity Tax Return that reflects or reports Taxes that relate
to at least one asset or activity that is part of the Progressive Business, on the one hand, and at least one asset or activity that is part of the SpinCo Business, on the other hand. 

“Other Taxes” means Taxes other than Income Taxes. 

“Person” means an individual, a partnership, a corporation, a limited liability company, an association, a
joint stock company, a trust, a joint venture, an unincorporated organization or a governmental entity or any department, agency or political subdivision thereof, without regard to whether any entity is treated as disregarded for U.S. federal income
tax purposes. 
 “Post-Distribution Period” means any Tax Period beginning after the Distribution Date,
and, in the case of any Straddle Period, the portion of such Straddle Period beginning the day after the Distribution Date. 

“Pre-Distribution Period” means any Tax Period ending on or before
the Distribution Date, and, in the case of any Straddle Period, the portion of such Straddle Period ending on the Distribution Date. 

“Privilege” means any privilege that may be asserted under applicable Law, including, any privilege arising
under or relating to the attorney-client relationship (including the attorney-client and work product privileges), the accountant-client privilege and any privilege relating to internal evaluation processes. 

“Progressive Business” has the meaning assigned to the term “Progressive Leasing and Vive
Business” in the Separation Agreement. 

  
 5 

 “Proposed Acquisition Transaction” means a transaction or
series of transactions (or any agreement, understanding or arrangement, within the meaning of Section 355(e) of the Code and Treasury Regulations Section 1.355-7, or any other regulations promulgated
thereunder, to enter into a transaction or series of transactions), whether such transaction is supported by management or shareholders of SpinCo, is a hostile acquisition, or otherwise, as a result of which SpinCo would merge or consolidate with
any other Person or as a result of which one or more Persons would (directly or indirectly) acquire, or have the right to acquire, from SpinCo and/or one or more holders of outstanding shares of SpinCo Capital Stock (or the Capital Stock of any
direct or indirect parent thereof), a number of shares of such Capital Stock that would, when combined with any other direct or indirect changes in ownership of such Capital Stock pertinent for purposes of Section 355(e) of the Code, comprise
fifty percent (50%) or more of (i) the value of all outstanding shares of such Capital Stock as of the date of such transaction, or in the case of a series of transactions, the date of the last transaction of such series, or (ii) the total
combined voting power of all outstanding shares of voting stock of SpinCo (or any direct or indirect parent thereof) as of the date of such transaction, or in the case of a series of transactions, the date of the last transaction of such series.
Notwithstanding the foregoing, a Proposed Acquisition Transaction shall not include (A) the adoption by SpinCo of a shareholder rights plan or (B) issuances by SpinCo that satisfy Safe Harbor VIII (relating to acquisitions in connection
with a person’s performance of services) or Safe Harbor IX (relating to acquisitions by a retirement plan of an employer) of Treasury Regulations Section 1.355-7(d). For purposes of determining
whether a transaction constitutes an indirect acquisition, any recapitalization resulting in a shift of voting power or any redemption of shares of stock shall be treated as an indirect acquisition of shares of stock by the non-exchanging shareholders. This definition, and the application thereof, is intended to monitor compliance with Section 355(e) of the Code and shall be interpreted accordingly. Any clarification of, or change
in, the statute or regulations promulgated under Section 355(e) of the Code shall be incorporated in this definition and its interpretation, subject to the reasonable review of HoldCo and its Tax Advisors in consultation with SpinCo and its Tax
Advisors. 
 “Refund” means any refund (or credit in lieu thereof) of Taxes (including any overpayment of
Taxes that can be refunded or, alternatively, applied to other Taxes payable) or other reduction or offset of Taxes otherwise payable, including any interest paid on or with respect to such refund of Taxes. The amount of any Refund shall be
determined net of any Taxes actually imposed by any Tax Authority on the Party receiving the refund, after accounting for the provisions of Section 5.1. 

“Restricted Period” means the period beginning at the Distribution Time and ending on the two (2)-year
anniversary of the day after the Distribution Date. 
 “Separate Entity Tax Return” means any Tax Return,
other than any HoldCo Consolidated Return, relating to the Progressive Business, the SpinCo Business, or both the Progressive Business and SpinCo Business. 

“Separation” has the meaning set forth in the Separation Agreement and, for the avoidance of doubt, includes
the SpinCo Contribution. 

  
 6 

 “SpinCo Active Business Entity” means any entity conducting
the SpinCo Business as of the Distribution Date. 
 “SpinCo Business” has the meaning assigned to the term
“Aaron’s Business” in the Separation Agreement. 
 “SpinCo Consolidated Return” means
any Combined Income Tax Return that includes SpinCo or any SpinCo Entity that is not a HoldCo Consolidated Return. 

“SpinCo Contribution” has the meaning assigned to the term “Contribution” in the Separation
Agreement. 
 “SpinCo Entity” means any Subsidiary of SpinCo from and after the Distribution Time. 

“SpinCo Group” means, individually or collectively, as the case may be, SpinCo and any SpinCo Entities. 

“SpinCo Tainting Act” means (a) any action (or the failure to take any action) within its control by
SpinCo or any member of the SpinCo Group (including entering into any agreement, understanding or arrangement or any negotiations with respect to any transaction or series of transactions), (b) any event (or series of events) involving the SpinCo
Capital Stock (or the Capital Stock of any direct or indirect parent thereof), any assets of SpinCo or any assets of any member of the SpinCo Group, or (c) any breach by SpinCo or any member of the SpinCo Group of any representation, warranty
or covenant made by such Person in this Agreement, in each case, that would affect the Intended Tax Treatment or otherwise cause the Spin-Off to fail to qualify for the Intended Tax Treatment; provided,
that, SpinCo Tainting Act shall not include any action required by the Separation Agreement or any other Transaction Document or undertaken pursuant to the Distribution. 

“SpinCo Taxes” means, without duplication, and after accounting for any adjustment pursuant to a Final
Determination, (a) any Income Taxes (other than HoldCo Consolidated Taxes) for any Post-Distribution Period of (i) HoldCo or any member of the HoldCo Group attributable to assets or activities of the SpinCo Business, as determined pursuant
to Section 3.2, or (ii) SpinCo or a member of the SpinCo Group, but excluding in either case any Taxes included in clauses (b)(i)(B), (d) and (f) of the definition of HoldCo Taxes, (b) any Other Taxes of
(i) HoldCo or any member of the HoldCo Group attributable to assets or activities of the SpinCo Business, as determined pursuant to Section 3.2, and (ii) SpinCo or a member of the SpinCo Group, but excluding in either case any Taxes
included in clauses (c)(i), (f) and (g) of the definition of HoldCo Taxes, (c) any Income Taxes of AIC and Aaron’s Canada for any taxable period, (d) subject to Section 3.1(c), any Taxes attributable to
a SpinCo Tainting Act, and (e) any Taxes attributable to an Extraordinary Transaction effected after the Distribution on the Distribution Date by SpinCo or a member of the SpinCo Group; provided, that SpinCo Taxes shall not include any
Taxes included in clause (e) of the definition of HoldCo Taxes. 

“Spin-Off” means the Separation and the Distribution. 

“Straddle Period” means any Tax Period that begins on or before and ends after the Distribution Date. 

  
 7 

 “Subsidiary” means, with respect to any Person (a) a
corporation more than fifty percent (50%) of the voting or capital stock of which is owned, directly or indirectly, by such Person or (b) a partnership, joint venture, association, joint stock company, trust, unincorporated organization or
other entity in which such Person, directly or indirectly, owns any of the equity economic interests thereof or for which such Person, directly or indirectly, has the power to elect or direct the election of any of the members of the governing body
or with respect to which such Person otherwise has control (e.g., as the managing partner or managing member of a partnership or limited liability company, as the case may be). 

“Tax” means (a) all taxes, charges, fees, duties, levies, imposts, or other similar assessments, imposed
by any governmental authority or political subdivision thereof, including, but not limited to, net income, gross income, gross receipts, excise, real property, personal property, sales, use, service, service use, license, lease, capital stock,
transfer, recording, franchise, business organization, occupation, premium, windfall profits, profits, customs, duties, payroll, wage, withholding, social security, employment, unemployment, insurance, severance, workers compensation, excise, stamp,
alternative minimum, estimated, value added, ad valorem, import, export, unclaimed property, escheat and other taxes, charges, fees, duties, levies, imposts, or other similar assessments, or any interest, penalties or additions to tax, or additional
amounts, in respect of any of the foregoing and (b) all liabilities in respect of any items described in clause (a) payable by reason of transferee or successor liability, contract, operation of Law, or Treasury Regulations Section 1.1502-6(a) (or any predecessor or successor thereof or any analogous provision of Tax Law). 

“Tax Advisor” means a tax counsel or accountant of recognized standing in the relevant jurisdiction that is
reasonably acceptable to the Parties, provided that, with respect to the HoldCo Tax Opinion, Tax Advisor shall mean King & Spalding LLP. 

“Tax Attribute” means a net operating loss, net capital loss, investment credit, foreign tax credit, excess
charitable contribution, general business credit or any other Tax Item that could reduce a Tax or create a Tax Benefit. 

“Tax Authority” means, with respect to any Tax, the governmental entity or political subdivision thereof that
imposes such Tax and the agency (if any) charged with the collection of such Tax for such entity or subdivision. 

“Tax Benefit” means any refund, credit, or other reduction in Tax payments, in each case, as determined on a
“with and without” basis, that is actually received or recognized by a Party or any member of its Group. For the avoidance of doubt, the term “Tax Benefit” shall include any such benefit actually received or
recognized as a result of a step-up in Tax basis or an increase in any Tax Attribute. 

“Tax Item” means any item of income, gain, loss, deduction, expense, or credit, or other attribute that may
have the effect of increasing or decreasing any Tax. 
 “Tax Law” means any Law relating to any Tax. 

“Tax Period” means, with respect to any Tax, the period for which the Tax is reported as provided under the
Code or other applicable Tax Law. 

  
 8 

 “Tax Proceeding” means an audit, review, examination, or
any other administrative or judicial proceeding with the purpose or effect of re-determining Taxes (including any administrative or judicial review of any claim for refund). 

“Tax Records” means any Tax Returns, Tax Return work papers, documentation relating to any Tax Proceedings,
and any other books of account or records (whether or not in written, electronic or other tangible or intangible forms and whether or not stored on electronic or any other medium) required to be maintained under the Code or other applicable Tax Laws
or under any record retention agreement with any Tax Authority. 
 “Tax Representation Letter” means the
representation letter(s) delivered by HoldCo and SpinCo to the Tax Advisor in connection with the rendering by the Tax Advisor of the HoldCo Tax Opinion. 

“Tax Return” means any report of Taxes due, any claim for refund of Taxes paid, any information return with
respect to Taxes, or any other similar report, statement, declaration, or document required to be filed under the Code or other Tax Law, including any attachments, exhibits, or other materials submitted with any of the foregoing, and including any
amendments or supplements to any of the foregoing. 
 “Transaction Documents” means the Separation
Agreement and the Ancillary Agreements. 
 “Transfer Tax” means any sales, use, privilege, transfer
(including real property transfer), intangible, recordation, registration, documentary, stamp, duty or similar Tax imposed with respect to the Spin-Off. 

“Treasury Regulations” means the regulations promulgated from time to time under the Code. 

“Unqualified Tax Opinion” means an unqualified “will” opinion of a Tax Advisor, on which
each of the Parties may rely to the effect that a transaction will not affect the Intended Tax Treatment or otherwise cause the Spin-Off to fail to qualify for its Intended Tax Treatment. Any such opinion must
assume that the Spin-Off would have qualified for the Intended Tax Treatment if the transaction in question did not occur and may assume the accuracy of, and may rely upon, customary assumptions,
representations and undertakings reasonably satisfactory to HoldCo and SpinCo contained in certificates delivered by an officer of HoldCo or SpinCo, as the case may be. 

INDEX OF DEFINED TERMS 
  

			
	 Term
	  	Section
	 Agreement
	  	Preamble
	 Carryback
	  	2.5(a)
	 Code
	  	Recitals
	 Distribution
	  	Recitals
	 HoldCo
	  	Preamble
	 Indemnified Party
	  	4.2(a)

  
 9 

			
	 Term
	  	Section
	 Indemnifying Party
	  	4.2(a)
	 Independent Arbiter
	  	11.2
	 Notified Action
	  	7.4
	 Parties
	  	Preamble
	 Party
	  	Preamble
	 Past Practice
	  	2.3(a)
	 Post-Distribution Ruling
	  	7.3(a)
	 Refund Party
	  	5.1(a)
	 Retention Date
	  	8.5
	 Section 336(e) Election
	  	7.5
	 Separation Agreement
	  	Preamble
	 SpinCo
	  	Preamble
	 SpinCo Common Stock
	  	Recitals

 ARTICLE II 

PREPARATION AND FILING OF TAX RETURNS 

Section 2.1 Consolidated Returns. 

(a) Except as provided in the TSA, HoldCo shall prepare and file all HoldCo Consolidated Returns, and shall, subject to
Section 4.1(a), pay all Taxes shown to be due and payable on such Tax Returns. 
 (b) SpinCo shall
prepare and file all SpinCo Consolidated Returns, and shall, subject to Section 4.1(a), pay all Taxes shown to be due and payable on such Tax Returns. 

Section 2.2 Separate Entity Tax Returns. 

(a) Except as provided in the TSA, HoldCo shall prepare and file (or shall cause to be prepared and filed) any Separate Entity
Tax Returns required to be filed by, or with respect to, any member of the HoldCo Group, and shall, subject to Section 4.1(a), pay, or cause the applicable HoldCo Entity to pay, all Taxes shown to be due and payable on such
Tax Returns. 
 (b) Except as set forth in Section 2.2(c), SpinCo shall prepare and file (or shall cause to be prepared
and filed) any Separate Entity Tax Returns required to be filed by, or with respect to, any member of the SpinCo Group and shall, subject to Section 4.1(a), pay, or cause the applicable SpinCo Entity to pay, all Taxes shown
to be due and payable on such Tax Returns. 
 (c) Except as provided in the TSA, HoldCo shall (or shall cause a HoldCo Entity
to) prepare any Tax Return required to be filed by, or with respect to, any member of the SpinCo Group for any Tax Period that ends before the Distribution Date and may elect to prepare (or cause a HoldCo Entity to prepare) any Tax Return required
to be filed by, or with respect to, any member of the SpinCo Group for any Straddle Period. At SpinCo’s timely prior written request and expense, HoldCo shall (or shall cause a HoldCo Entity to) prepare any other Tax

  
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Return required to be filed by, or with respect to, any member of the SpinCo Group for any Straddle Period. SpinCo shall file, or cause the applicable SpinCo Entity to file, any such Tax Returns
and, subject to Section 4.1(a), pay, or cause the applicable SpinCo Entity to pay, all Taxes shown to be due and payable on such Tax Returns. 

(d) Notwithstanding anything in this Section 2.2 to the contrary, SpinCo shall prepare and file all
Income Tax Returns required to be filed by AIC and Aaron’s Canada, and shall pay all Taxes shown to be due and payable on such Tax Returns. 

Section 2.3 Tax Reporting Practices. 

(a) Past Practices. With respect to any Tax Return for which a Party is responsible for preparing such Tax Return in
accordance with the terms of this Agreement or the TSA (unless the items reported on such Tax Return could not reasonably be expected to affect Tax Items reported on any Tax Return filed by the other Party or members of its Group), such Tax Return
shall be prepared in accordance with the practices, accounting methods, elections or conventions applied in respect of any applicable Tax Item for Pre-Distribution Periods, as modified by the remainder of this
Section 2.3(a) (“Past Practice”). To the extent any Tax Items are not covered by Past Practice, or the Parties jointly determine that variance from Past Practice is required by applicable Tax Law (including
as a result of a determination that there is not “substantial authority” for such position if reported in accordance with Past Practice), subject to the review rights described in Section 2.4, the Tax Return shall
be prepared in the manner reasonably determined by the Party responsible for preparing such Tax Return in accordance with the terms of this Agreement or the TSA, following good faith consultation with the other Party. 

(b) Reporting of Spin-Off. The Tax treatment of the Spin-Off reported on any Tax Return (whether such Tax Return is for a Pre-Distribution Period or a Post-Distribution Period) shall be consistent with the Intended Tax
Treatment. The Tax treatment of the Spin-Off reported on any Tax Return for which SpinCo is responsible for preparing in accordance with the terms of this Agreement shall be consistent with that on any Tax
Return filed or to be filed by HoldCo or any member of the HoldCo Group or caused or to be caused to be filed by HoldCo, to the extent that SpinCo has knowledge of such reporting. In furtherance of the foregoing, HoldCo shall, at least thirty
(30) Business Days prior to the Due Date of any applicable Tax Return, provide to SpinCo, to the extent HoldCo has not previously made available, such information with respect to the Intended Tax Treatment and otherwise with respect to the
intended tax treatment of the Spin-Off as will enable SpinCo to file any Tax Return it is responsible for preparing in accordance with the terms of this Agreement. If SpinCo determines, in consultation with
HoldCo and their respective Tax Advisors that there is no “substantial authority” for such reporting position, such disputed item (or items) shall be referred for resolution in accordance with Article XI. In the event that the
resolution of such disputed item (or items) with respect to a Tax Return is inconsistent with such Tax Return as filed, the Parties shall, as promptly as practicable, amend the applicable Tax Returns to properly reflect the final resolution of the
disputed item (or items). 

  
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 Section 2.4 Right to Review Tax Returns. 

(a) Review of HoldCo-Prepared Tax Returns with Separate SpinCo Tax Liability. Except with respect to HoldCo Consolidated
Returns, which shall be governed by Section 2.4(d), HoldCo shall, at least thirty (30) Business Days prior to the Due Date for such Tax Return, or as soon thereafter as reasonably practical, submit to SpinCo a draft of
any Tax Return HoldCo is required or permitted to file under this Article II to the extent such Tax Return reflects a Tax liability reasonably expected to be borne by SpinCo (or a member of the SpinCo Group). HoldCo shall consider in good
faith any reasonable changes to such Tax Return submitted by SpinCo, provided that such changes are submitted no later than fifteen (15) Business Days after HoldCo’s submission to SpinCo of such Tax Return (or, in the case of a draft Tax
Return delivered later than fifteen (15) Business Days prior to the Due Date, as soon thereafter as reasonably practical, but in no event later than five (5) Business Days prior to the Due Date), and the Parties shall negotiate in good
faith to resolve any disputed items relating to any such Tax Return prior to the filing thereof. 
 (b) Review of
SpinCo-Prepared Tax Returns with Separate HoldCo Tax Liability. Except with respect to SpinCo Consolidated Returns, which shall be governed by Section 2.4(d), SpinCo shall, at least thirty (30) Business Days prior
to the Due Date for such Tax Return, or as soon thereafter as reasonably practical, submit to HoldCo a draft of each Tax Return it is required or permitted to file under this Article II to the extent such Tax Return reflects a Tax liability
reasonably expected to be borne by HoldCo. SpinCo shall consider in good faith any reasonable changes to such Tax Return submitted by HoldCo, provided that such changes are submitted no later than fifteen (15) Business Days after SpinCo’s
submission to HoldCo of such Tax Return (or, in the case of a draft Tax Return delivered later than fifteen (15) Business Days prior to the Due Date, as soon thereafter as reasonably practical, but in no event later than five (5) Business
Days prior to the Due Date), and the Parties shall negotiate in good faith to resolve any disputed items relating to any such Tax Return prior to the filing thereof. 

(c) Dispute Mechanics. In the event the Parties are unable to resolve through good faith negotiations any disputed items
with respect to any Tax Return described in Section 2.4(a) or Section 2.4(b), the applicable Tax Return shall be filed or caused to be filed as prepared by the Party responsible for preparing such
Tax Return in accordance with the terms of this Agreement prior to the Due Date, and such disputed item (or items) shall be referred for resolution in accordance with Article XI. In the event that the resolution of such disputed item (or
items) with respect to a Tax Return is inconsistent with such Tax Return as filed, the Party responsible for preparing the applicable Tax Return in accordance with the terms of this Agreement (with cooperation from the other Party) shall, as
promptly as practicable, amend such Tax Return to properly reflect the final resolution of the disputed item (or items). In the event that the amount of Taxes shown to be due and owing on a Tax Return is adjusted pursuant to applicable dispute
resolution procedures, proper adjustment shall be made to the amounts previously paid or required to be paid in a manner that reflects such resolution. 

(d) Review of Consolidated Returns. With respect to all HoldCo Consolidated Returns and SpinCo Consolidated Returns for
the taxable year which includes the Distribution Date, HoldCo or SpinCo, as applicable shall use the closing of the books method under Treasury Regulation Section 1.1502-76, unless otherwise agreed by
HoldCo and SpinCo, with respect to the determination of any Tax liability. HoldCo shall provide a draft, prepared in a manner that is consistent with Past Practice, of the portions of any HoldCo Consolidated Return that reflects a

  
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Tax liability reasonably expected to be borne by SpinCo (or a member of the SpinCo Group) to SpinCo for its review and comment at least thirty (30) Business Days prior to the Due Date for
such HoldCo Consolidated Return; provided, however, that nothing herein shall prevent HoldCo from timely filing any such HoldCo Consolidated Return; provided, further, HoldCo shall not be required to provide such draft if
it determines in its sole discretion to waive any liability SpinCo may have in respect of such Tax liability and agrees such Tax shall not be treated as a SpinCo Tax. SpinCo shall provide a draft, prepared in a manner that is consistent with Past
Practice, of the portions of any SpinCo Consolidated Return that reflects a Tax liability reasonably expected to be borne by HoldCo (or a member of the HoldCo Group) to HoldCo for its review and comment at least thirty (30) Business Days prior
to the Due Date for such SpinCo Consolidated Return, provided, however, that nothing herein shall prevent SpinCo from timely filing any such SpinCo Consolidated Return; provided, further, SpinCo shall not be required to
provide such draft if it determines in its sole discretion to waive any liability HoldCo may have in respect of such Tax liability and agrees such Tax shall not be treated as a HoldCo Tax. Any disputes that the Parties are unable to resolve shall be
resolved pursuant to Article XI. In the event that any dispute is not resolved prior to the Due Date for the filing of any HoldCo Consolidated Return or SpinCo Consolidated Return, such HoldCo Consolidated Return or SpinCo Consolidated
Return, as applicable, shall be timely filed by the relevant Party, and the Parties agree to amend such HoldCo Consolidated Return or SpinCo Consolidated Return, as applicable, as necessary to reflect the resolution of such dispute in a manner
consistent with such resolution. 
 Section 2.5 Carrybacks and Amended Tax Returns. 

(a) Carrybacks. Except to the extent otherwise consented to by HoldCo in writing or prohibited by applicable Law, SpinCo
(or the appropriate member of the SpinCo Group) shall elect to relinquish, waive or otherwise forgo the carryback of any loss, credit or other Tax Attribute from any Post-Distribution Period to any
Pre-Distribution Period or Straddle Period with respect to members of the SpinCo Group (a “Carryback”). In the event that SpinCo (or the appropriate member of the SpinCo Group) is prohibited
by applicable Law to relinquish, waive or otherwise forgo a Carryback (or HoldCo consents to a Carryback), HoldCo shall cooperate with SpinCo, at SpinCo’s expense, in seeking from the appropriate Tax Authority such Refund as reasonably would
result from such Carryback, to the extent that such Refund is directly attributable to such Carryback, and shall pay over to SpinCo the amount of such Refund within ten (10) Business Days after such Refund is received; provided,
however, that SpinCo shall indemnify and hold the members of the HoldCo Group harmless from and against any and all collateral Tax consequences resulting from or caused by any such Carryback, including, without limitation, the loss or
postponement of any benefit from the use of Tax Attributes generated by a member of the HoldCo Group if (i) such Tax Attributes expire unutilized, but would have been utilized but for such Carryback, or (ii) the use of such Tax Attributes
is postponed to a later taxable period than the taxable period in which such Tax Attributes would have been utilized but for such Carryback. Notwithstanding the foregoing, the second sentence of this Section 2.5(a) shall
not apply to any Refund of HoldCo Consolidated Taxes. 
 (b) Amended Tax Returns. Except as provided in
Section 2.3(b), Section 2.4(c) or Section 2.4(d) to reflect the resolution of any dispute pursuant to Article XI, any amended Tax Return with respect to any member
of the SpinCo Group, or any Mixed Business Tax Return, may be made only (i) with respect to any Income Tax Return which includes Pre-

  
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Distribution Periods or any Tax Return if the applicable original Tax Return was filed before the Distribution Date, by HoldCo and (ii) with respect to any other Tax Return, by the Party
responsible for preparing the applicable Tax Return in accordance with the terms of this Agreement. Such Party shall not file or cause to be filed any such amended Tax Return without the prior written consent of the other Party, if such filing,
assuming it is accepted, could reasonably be expected to change the Tax liability of such other Party (or any member of its Group) for any Tax Period, which consent shall not be unreasonably withheld, conditioned or delayed. If any Party permitted
to make an amended Tax Return under this Section 2.5(b) is not permitted to file such amended Tax Return under applicable Law, such Party shall provide the amended Tax Return to the other Party which shall file (or cause to
be filed) such amended Tax Return as promptly as reasonably practicable thereafter. 
 Section 2.6 Apportionment of
Tax Attributes. 
 (a) Tax Attributes arising in a Pre-Distribution Period will
be allocated to (and the benefits and burdens of such Tax Attribute will inure to) the members of the HoldCo Group and the members of the SpinCo Group in accordance with HoldCo’s historical practice (except as otherwise required by applicable
Tax Law), the Code, Treasury Regulations, and any applicable state, local and non-U.S. Law, as determined by HoldCo in its reasonable discretion and consistent with Past Practice, as applicable. The HoldCo
Group or the SpinCo Group, as applicable, shall be responsible for the payment of any fees and expenses that become payable in connection with the utilization of any Tax Attributes allocated to it hereunder. 

(b) HoldCo shall in good faith (and without being required to undertake an attribute or similar study) advise SpinCo in writing
of the portion, if any, of Tax Attributes, or other consolidated, combined or unitary attribute, which shall be allocated or apportioned to the members of the SpinCo Group under applicable Law. HoldCo shall consult in good faith with SpinCo
regarding such allocation of Tax Attributes and determinations as to basis and valuation, and shall consider in good faith any reasonable comments timely received from SpinCo. In the event that SpinCo disagrees with any such determination, HoldCo
and SpinCo shall endeavor in good faith to resolve such disagreement, and, failing that, the allocations and apportionments under this Section 2.6(b) shall be determined in accordance with the dispute resolution provisions
of Article XI as promptly as practicable. To the extent applicable Law requires any member of the HoldCo Group to make a payment to a member of the SpinCo Group, or any member of the SpinCo Group to make a payment to a member of the HoldCo
Group, with respect to any Tax Attribute, or other consolidated, combined or unitary attribute, as a result of the Spin-Off, such payment shall be made in accordance with the provisions of this Agreement. 

(c) All members of the HoldCo Group and SpinCo Group shall prepare all Tax Returns and compute all Taxes for Post-Distribution
Periods in accordance with the final allocation of Tax Attributes delivered under Section 2.6(b), except as otherwise required by a Final Determination. In the event of an adjustment to any Tax Attribute as a result of a
Final Determination, HoldCo or SpinCo, as applicable, shall promptly notify the other Party in writing of such adjustment, and the reduction or increase in Tax Attributes shall be allocated to the Party to which such Tax Attribute was initially
allocated pursuant to this Section 2.6 and, if necessary, an appropriate adjustment payment shall be made by the applicable Party, consistent with the other provisions of this Agreement. 

  
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 (d) For the avoidance of doubt, HoldCo shall not be liable to any member of
the SpinCo Group for any failure of any determination under this Section 2.6 to be accurate under applicable Tax Law, provided such determination was made in good faith. 

Section 2.7 Coordination. Nothing in this Article II (including a Party’s timely payment of Taxes, or
filing of a Tax Return, pursuant to the provisions hereof) shall limit a Party’s right to indemnification under the provisions of Article III of this Agreement. The Parties acknowledge that the provisions set forth herein relating to the
preparation and filing of Tax Returns may be modified by the terms of the TSA. 
 ARTICLE III 

ALLOCATION OF TAX LIABILITIES 

Section 3.1 General Rule. 

(a) HoldCo Liability. HoldCo shall be liable for, and shall indemnify and hold harmless each member of the SpinCo Group
from and against, without duplication, (i) all HoldCo Taxes, (ii) all Taxes incurred by a member of the SpinCo Group resulting from the breach by a member of the HoldCo Group of any of its representations, warranties or covenants
hereunder, and (iii) any costs and expenses related to the foregoing (including reasonable attorneys’ fees and expenses). 

(b) SpinCo Liability. SpinCo shall be liable for, and shall indemnify and hold harmless each member of the HoldCo Group
from and against, without duplication, (i) all SpinCo Taxes, (ii) all Taxes incurred by a member of the HoldCo Group by reason of the breach by a member of the SpinCo Group of any of its representations, warranties or covenants hereunder
and (iii) any costs and expenses related to the foregoing (including reasonable attorneys’ fees and expenses). 

(c) Notwithstanding Section 3.1(a) and (b), any liability for any Taxes attributable to both a
HoldCo Tainting Act and a SpinCo Tainting Act shall be shared by HoldCo and SpinCo according to relative fault. 

Section 3.2 Attribution of Taxes. 

(a) General. For all purposes of this Agreement, a Tax and any Tax Items shall be considered attributable to the SpinCo
Business on the one hand and the Progressive Business on the other (but not both) to the extent that such Tax and/or Tax Item would result if such Tax Return were prepared on a separate basis taking into account only the operations and assets of the
SpinCo Business on the one hand and only the operations and assets of the Progressive Business on the other hand (but not both), as applicable, which allocation shall, in respect of Income Taxes, be jointly determined by HoldCo and SpinCo in good
faith and subject to dispute resolution under Article XI, (i) using Past Practices and (ii) applying the highest applicable statutory marginal corporate income Tax rate in effect for the applicable Tax Period. With respect to any
other Tax Items, HoldCo and SpinCo shall jointly determine in good faith consistent with Past Practices and subject to dispute resolution under Article XI, which Tax Items are properly attributable to assets or activities of the SpinCo
Business and Progressive Business, respectively (and in the case of a Tax Item that is properly attributable to both the SpinCo Business and the Progressive Business, the allocation of such Tax Item between the SpinCo Business and the Progressive
Business). 

  
 15 

 (b) Straddle Period Tax Allocation. HoldCo and SpinCo shall take all
actions necessary or appropriate to close the taxable year of SpinCo and each member of the SpinCo Group for all Tax purposes as of the close of the Distribution Date to the extent permissible or required under applicable Law. If applicable Law does
not require or permit SpinCo or any SpinCo Entity, as the case may be, to close its taxable year on the Distribution Date, then the allocation of Tax Items required to determine any Taxes or other amounts attributable to the portion of the Straddle
Period ending on, or beginning after, the Distribution Date shall be made by means of a closing of the books and records of SpinCo or the applicable member of the SpinCo Group as of the close of the Distribution Date; provided that exemptions,
allowances or deductions that are calculated on an annual or periodic basis shall be allocated between such portions in proportion to the number of days in each such portion; provided, further, that real property and other property or
similar periodic Taxes shall be apportioned on a per diem basis. 
 (c) Extraordinary Transactions. Notwithstanding
anything to the contrary in this Agreement, the Parties shall report any Extraordinary Transactions taking place on the Distribution Date after the Distribution Time as occurring on the day after the Distribution Date pursuant to Treasury
Regulations Section 1.1502-76(b)(1)(ii)(B) or any similar or analogous provision of state, local or non-U.S. Law. 

ARTICLE IV 
 TAX
PAYMENTS 
 Section 4.1 Payment of Amounts Due. 

(a) Payment of Liability with Respect to Tax Due. Each Party allocated Taxes shown on a Tax Return to be filed in
accordance with Article II and responsible for the payment of such Taxes under this Agreement shall, at least two (2) Business Days prior to the Due Date for filing any such Tax Return, pay such amount to the Party responsible for filing
such Tax Return in accordance with the terms of this Agreement. For the avoidance of doubt, however, the obligation described under this Section 4.1(a) shall not commence prior to the date the other Party first was given
the opportunity to exercise any review rights available to it with respect to the relevant Tax Return (whether under Article II or otherwise) or the date any dispute with respect to such Tax Return is resolved pursuant to
Section 2.4(c), nor shall interest accrue during any such time period. 
 (b) Adjustments
Resulting in Underpayments. In the case of any adjustment pursuant to a Final Determination with respect to any Tax Return, the Party responsible for filing the applicable Tax Return in accordance with the terms of this Agreement shall pay (or
cause to be paid) to the applicable Tax Authority when due any additional Tax due with respect to such Tax Return required to be paid as a result of such adjustment pursuant to such Final Determination. Such Party shall compute the amount
attributable to the SpinCo Group or the HoldCo Group (as the case may be) in accordance with this Agreement and SpinCo shall pay to 

  
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HoldCo any amount due HoldCo (or HoldCo shall pay SpinCo any amount due SpinCo) under this Agreement no later than the later of (i) two (2) Business Days prior to the Due Date for payment
and (ii) ten (10) Business Days after the date of receipt of a written notice and demand from such Party for payment of the amount due, accompanied by a statement detailing the Taxes paid and describing in reasonable detail the particulars
relating thereto. For the avoidance of doubt, however, the obligation described under this Section 4.1(b) shall not commence to the extent the other Party was not previously notified of the potential adjustment under the
provisions of Article X, in which case the obligation shall accrue on the date of the other Party’s receipt of written notice and demand under clause (ii) of this Section 4.1(b), and interest shall accrue only
from such later date. 
 (c) Discharge of Indemnity. A Party (or any member of its Group) seeking indemnity under
Article III shall provide written notice of, and a reasonable basis for, its claim to the other Party (or Parties, or any member of their respective Groups) from which it is seeking indemnification, and such other Party (or Parties, or the
applicable member of their respective Groups) shall discharge its (or their) indemnification obligations, subject to Section 4.1(b), by paying the relevant amount within ten (10) Business Days of demand therefor. If
any Party (or any member of its Group) disputes in good faith the fact or the amount of its indemnification obligation, then no payment of the amount in dispute shall be required until any such good faith dispute is resolved in accordance with
Article XI, but interest shall accrue from the date payment would otherwise have been due. 
 Section 4.2
Treatment of Indemnification and Other Payments. 
 (a) Any Tax indemnity payment required to be made by a Party
responsible to make an indemnification payment pursuant to this Agreement (the “Indemnifying Party”) shall be reduced by any corresponding Tax Benefit to the indemnified Party (the “Indemnified Party”) actually
realized or recognized during or prior to the taxable year in which the indemnification payment is made or during the two (2) subsequent taxable years. For the avoidance of doubt, a Tax Benefit is treated as corresponding to a Tax indemnity
payment to the extent the Tax Benefit realized is directly attributable to the same Tax Item (or adjustment of such Tax Item pursuant to a Final Determination) that gave rise to the Tax indemnity payment. 

(b) To the extent permitted by applicable Tax Law, HoldCo and SpinCo agree to treat (and to cause each member of their
respective Group to treat) any payment required by this Agreement (other than payments with respect to interest accruing after the Distribution Date) as either a contribution by HoldCo to SpinCo or a distribution by SpinCo to HoldCo, as the case may
be, occurring immediately prior to the Distribution. 

  
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 ARTICLE V 

TAX REFUNDS 

Section 5.1 Tax Refunds. 

(a) Each Party (and its Affiliates) shall be entitled to, and the other Party shall, at the written request and expense of the
first Party (such Party, the “Refund Party”), use commercially reasonable efforts to claim, all Refunds that relate to Taxes for which the Refund Party (or its Affiliates) is liable under Article III. To the extent that a
particular Refund of Taxes may be allocable to a Tax Period or reflected on a Tax Return with respect to which the Parties may share liability under this Agreement, the portion of such Refund to which each Refund Party will be entitled shall be
determined by comparing the relative liability of such Refund Party for the Taxes shown on the applicable Tax Return, taking into account the facts as utilized for purposes of claiming such Refund. Any Refund to which a Refund Party is entitled that
is received by the other Party shall be paid to such Refund Party within ten (10) days of, in the case of a cash Refund, such other Party’s actual receipt of the Refund from the applicable Tax Authority or, in the case of any Refund that
reduces or offsets Taxes otherwise payable by such other Party, the earlier of the Due Date for such Tax liability or the date such Tax liability is actually paid. 

(b) To the extent that the amount of any Refund under this Section 5.1 is later reduced by a Tax
Authority or pursuant to a Final Determination in a Tax Proceeding, such reduction shall be allocated to the Refund Party and, if necessary, an appropriate adjustment payment shall be made to the other Party, consistent with the other provisions of
this Agreement. 
 ARTICLE VI 

DEDUCTION AND REPORTING OF EMPLOYEE AWARDS 

Section 6.1 HoldCo and SpinCo Income Tax Deductions in Respect of Certain Equity Awards and
Compensation. Unless otherwise required by applicable Law, the reporting of any Income Tax deductions by the HoldCo Group or the SpinCo Group in respect of equity awards and other compensation shall be governed by the EMA or TSA, as applicable.

 ARTICLE VII 
 TAX-FREE STATUS 
 Section 7.1 Representations and Warranties. 

(a) SpinCo. SpinCo hereby represents and warrants, or covenants and agrees, as appropriate, that the statements and
representations made in the Tax Representation Letter, to the extent they relate to SpinCo or the SpinCo Group are, or, as applicable, will be, from the time presented or made (and, if applicable, through and including the Distribution Time (and
thereafter as relevant)) true, correct and complete in all respects. 
 (b) HoldCo. HoldCo hereby represents and
warrants, or covenants and agrees, as appropriate, that the statements and representations made in the Tax Representation Letter, to the extent relating to HoldCo or the HoldCo Group are, or, as applicable, will be, from the time presented or made
(and, if applicable, through and including the Distribution Time (and thereafter as relevant)), true, correct and complete in all respects. 

(c) No Contrary Plan. Each of HoldCo and SpinCo represents and warrants that neither it, nor any of its Subsidiaries,
has any plan or intent to take any action which is inconsistent with any statements or representations made in the Tax Representation Letter. 

  
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 Section 7.2 Restrictions on SpinCo. 

(a) During the Restricted Period, SpinCo shall not (other than as expressly required under the Separation Agreement): 

(i) enter into any Proposed Acquisition Transaction, approve any Proposed Acquisition Transaction for any purpose, or
facilitate in any manner or allow any Proposed Acquisition Transaction to occur with respect to SpinCo; 
 (ii) merge or
consolidate with any other Person or liquidate or partially liquidate, including any action that is treated as a liquidation for U.S. federal Income Tax purposes; 

(iii) approve or allow the discontinuance, cessation, or sale or other transfer (to an Affiliate or otherwise) of, or a
material change in, any Active Business; 
 (iv) approve or allow the sale, issuance, or other disposition (to an Affiliate
or otherwise), directly or indirectly, of any share of, or other equity interest or an instrument convertible into an equity interest in, any SpinCo Active Business Entity; 

(v) in the case of the SpinCo Group (including any successors to any member of the SpinCo Group), sell or otherwise dispose of
more than thirty-five percent (35%) of its consolidated gross assets, or approve or allow the sale or other disposition (including in any transaction treated for U.S. federal income Tax purposes as a sale, transfer or disposition) (to an Affiliate
or otherwise) of more than thirty-five percent (35%) of its consolidated gross assets or more than thirty-five percent (35%) of the consolidated gross assets of any SpinCo Active Business Entity (whether to an Affiliate or otherwise), in each case,
excluding (A) sales in the ordinary course of business and measured based on fair market values as of the Distribution Date and (B) any transfers to a Person that is a disregarded entity separate from the transferor for federal income tax
purposes (provided, that for purposes of this Section 7.2(a), a merger of SpinCo or one of its Subsidiaries with and into any Person that is not a wholly owned Subsidiary of SpinCo shall constitute a disposition of
all of the assets of SpinCo or such Subsidiary); 
 (vi) amend its certificate of incorporation (or other organizational
documents), or take any other action or approve or allow the taking of any action, whether through a stockholder vote or otherwise, affecting the voting rights of SpinCo stock (including through the conversion of any Capital Stock into another class
of Capital Stock); 
 (vii) purchase, directly or through any Affiliate, any of its outstanding stock, except to the extent
such purchases satisfy Section 4.05(1)(b) of Revenue Procedure 96-30 (as in effect prior to the amendment by Revenue Procedure 2003-48); 

(viii) with respect to the Distribution, take any action or fail to take any action, or permit any member of the SpinCo Group
to take any action or fail to take any action, that is inconsistent with any representation or covenant made in the Tax Representation Letter; or 

  
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 (ix) take any action or permit any other member of the SpinCo Group to take
any action (including any transactions with a third-party or any transaction with any Affiliate) that is inconsistent with, or individually or in the aggregate (taking into account other transactions described in this
Section 7.2) would be reasonably likely to adversely affect, the Intended Tax Treatment. 

Section 7.3 Opinions and Rulings. SpinCo and its Affiliates shall be permitted to take the actions described in
Section 7.2, if, prior to taking any such actions: 
 (a) SpinCo notifies HoldCo that it desires to
seek a private letter ruling from the IRS, or a ruling from another applicable Tax Authority that confirms that such action or actions will not adversely affect the Intended Tax Treatment, taking into account such actions and any other relevant
transactions in the aggregate (a “Post-Distribution Ruling”), and HoldCo consents in writing to the pursuit of such Post-Distribution Ruling, which consent shall not be unreasonably withheld, conditioned or delayed, and which ruling
(and any representations on which it is based) shall, once received, be in form and substance satisfactory to HoldCo in its discretion, which discretion shall be reasonably exercised in good faith to prevent the imposition on HoldCo, or
responsibility for payment by HoldCo, of Distribution Taxes; or 
 (b) SpinCo shall have received an Unqualified Tax Opinion
that confirms that such action or actions will not adversely affect the Intended Tax Treatment, taking into account such actions and any other relevant transactions in the aggregate, in form and substance satisfactory to HoldCo in its discretion,
which discretion shall be reasonably exercised in good faith to prevent the imposition on HoldCo, or responsibility for payment by HoldCo, of Distribution Taxes (including any representations or assumptions that may be included in such Unqualified
Tax Opinion). 
 (c) HoldCo’s evaluation of a Post-Distribution Ruling or Unqualified Tax Opinion may consider, among
other factors, the appropriateness of any underlying assumptions, representations, and covenants made in connection with such Post-Distribution Ruling or Unqualified Tax Opinion. SpinCo shall (i) bear all costs and expenses of securing any such
Post-Distribution Ruling or Unqualified Tax Opinion and (ii) reimburse HoldCo for all reasonable out-of-pocket costs and expenses that HoldCo may incur in good
faith in pursuing or evaluating any such Post-Distribution Ruling or Unqualified Tax Opinion. Except as provided in this Section 7.3, following the Distribution Time, neither SpinCo nor any of its Subsidiaries shall seek
any guidance from, initiate any communication with, the IRS or any other Tax Authority (whether written, verbal or otherwise) at any time concerning the Spin-Off (including the impact of any transaction on the
tax treatment of the Spin-Off) without the prior approval of HoldCo (such approval not to be unreasonably withheld, conditioned or delayed). 

Section 7.4 Procedures Regarding Opinions and Rulings. If SpinCo notifies HoldCo that it desires to take one of
the actions described in Section 7.2 (a “Notified Action”), HoldCo shall, at SpinCo’s sole expense, cooperate with SpinCo and use its reasonable best efforts to seek to obtain a Post-Distribution
Ruling or permit SpinCo to obtain an Unqualified Tax Opinion for the purpose of permitting SpinCo to take the Notified Action unless HoldCo shall have waived the requirement to obtain such ruling or opinion. 

  
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 Section 7.5 Protective 336(e) Election. Pursuant to Treasury
Regulation Sections 1.336-2(h)(1)(i) and 1.336-2(j), if and to the extent determined by HoldCo, HoldCo shall make a timely protective election under Section 336(e)
of the Code and the Treasury Regulations issued thereunder and any similar provision of state or local Tax Law (and any related elections as determined by HoldCo) with respect to the Distribution (collectively, a
“Section 336(e) Election”). If and to the extent that the Intended Tax Treatment does not apply with respect to the Spin-Off and HoldCo is liable for any resulting
Distribution Tax-Related Losses (including any Taxes attributable to the Section 336(e) Election), then, to that extent, HoldCo will be entitled to annual payments from SpinCo of the Tax Benefit of the
SpinCo Group arising from the step-up in Tax basis resulting from the Section 336(e) Election, determined using a with and without methodology (treating any deductions attributable to the step-up in tax basis resulting from the Section 336(e) Election as the last items claimed for any taxable period including after the utilization of any available Tax Attributes) and assuming for this purpose
that the SpinCo Group is subject to federal income tax at a rate of 21% and state income tax at a rate of 4.57%. 
 ARTICLE VIII 

REPORTING, COOPERATION AND RECORD RETENTION 

Section 8.1 Assistance and Cooperation. 

(a) The Parties shall cooperate (and cause the members of their respective Groups to cooperate) with each other and with each
other’s representatives, including accounting firms and legal counsel, in connection with Tax matters relating to the Parties and their respective Groups including (i) preparation and filing of Tax Returns, (ii) determining the
liability for and amount of any Taxes due (including estimated Taxes) or the right to and amount of any Refund, (iii) examinations of Tax Returns, and (iv) any Tax Proceeding. Such cooperation shall include making all information and
documents in such Party’s possession relating to the other Party and the members of its Group available to such other Party as provided in this Article VIII and the execution of any document (including the grant of any power of attorney
or similar document) reasonably requested by another Party in connection with the filing of a Tax Return or a Refund claim of the Parties or any of the members of their respective Groups or any Tax Proceeding of any of the Parties or the members of
their respective Groups. Each Party shall make its employees, advisors, and facilities available, without charge (except as otherwise provided in the TSA), on a reasonable and mutually convenient basis in connection with the foregoing matters in a
manner that does not interfere with the ordinary business operations of such Party. The Parties shall use commercially reasonable efforts to provide any information or documentation requested by the other Party in a manner that permits the other
Party (or its Affiliates) to comply with Tax Return filing deadlines or other applicable timing requirements. 
 (b) Any
information or documents provided under this Section 8.1 shall be kept confidential by the Party receiving the information or documents, except as may otherwise be necessary in connection with the filing of Tax Returns or
in connection with any administrative or judicial proceedings relating to Taxes. Notwithstanding any other provision of this Agreement or any other agreement, (i) no Party nor any of its Affiliates shall be required to provide another Party or
any Affiliate thereof or any other Person access to or copies of any information or procedures (including the proceedings of any Tax Proceeding) other than information or procedures that reasonably relate to the Taxes (including any Taxes for which
the first Party is liable under this Agreement), business or assets of the first Party or any of its 

  
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Affiliates or are necessary to prepare Tax Returns for which the first Party is responsible for preparing the applicable Tax Return in accordance with the terms of this Agreement and (ii) in
no event shall any Party or its Affiliates be required to provide another Party, any of its Affiliates or any other Person access to or copies of any information if such action could reasonably be expected to result in the waiver of any Privilege.
In addition, in the event that a Party determines that the provision of any information to another Party or any of its Affiliates could be commercially detrimental, violate any Law or agreement or waive any Privilege, the first Party shall use
reasonable best efforts to permit compliance with its obligations under this Section 8.1 in a manner that avoids any such harm or consequence. 

Section 8.2 Return Information. SpinCo and HoldCo acknowledge that time is of the essence in relation to any
request for information, assistance or cooperation made by HoldCo or SpinCo pursuant to Section 8.1 or this Section 8.2. Each Party shall provide to the other Parties information and documents
relating to its Group reasonably required by the other Parties to prepare Tax Returns. Any information or documents a Party responsible for preparing a Tax Return in accordance with the terms of this Agreement requires to prepare such Tax Returns
shall be provided in such form as such Party reasonably requests and in sufficient time for such Party to prepare such Tax Returns on a timely basis. 

Section 8.3 Non-Performance. If a Party (or any of its Affiliates) fails
to comply with any of its obligations set forth in this Article VIII upon reasonable request and notice by the other Party (or any of its Affiliates) and such failure results in the imposition of additional Taxes, the non-performing Party shall be liable in full for such additional Taxes. 

Section 8.4 Costs. Each Party shall devote the personnel and resources necessary in order to carry out this
Article VIII and shall make its employees available on a mutually convenient basis to provide explanations of any documents or information provided hereunder. Except as otherwise provided in the TSA, each Party shall carry out its
responsibilities under this Article VIII at its own cost and expense. 
 Section 8.5 Retention of Tax
Records. Each Party shall preserve and keep all Tax Records exclusively relating to the assets and activities of its Group for Pre-Distribution Periods, and HoldCo shall preserve and keep all other Tax
Records relating to Taxes of the Groups for Pre-Distribution Periods, for so long as the contents thereof may become material in the administration of any matter under the Code or other applicable Tax Law, but
in any event until the later of (i) the expiration of any applicable statutes of limitations, or (ii) seven (7) years after the Distribution Date (such later date, the “Retention Date”). After the Retention Date, each
Party may dispose of such Tax Records upon ninety (90) Business Days’ prior written notice to the other Party. If, prior to the Retention Date, a Party reasonably determines that any Tax Records which it would otherwise be required to
preserve and keep under this Section 8.5 are no longer material in the administration of any matter under the Code or other applicable Tax Law and the other Party agrees, then such first Party may dispose of such Tax
Records upon ninety (90) Business Days’ prior notice to the other Party. The notified Party shall have the opportunity, at its cost and expense, to copy or remove, within such ninety (90) Business Day period, all or any part of such
Tax Records. If, at any time prior to the Retention Date, a Party determines to decommission or otherwise discontinue any computer program or information technology system used to access or store any Tax Records, then such Party may decommission or
discontinue such 

  
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program or system upon ninety (90) Business Days’ prior notice to the other Party and the other Party shall have the opportunity, at its cost and expense, to copy, within such ninety
(90) Business Day period, all or any part of the underlying data relating to the Tax Records accessed by or stored on such program or system. 

Section 8.6 Access to Tax Records. The Parties and their respective Affiliates shall make available to each other
for inspection and copying during normal business hours upon reasonable notice all Tax Records (and, for the avoidance of doubt, any pertinent underlying data accessed or stored on any computer program or information technology system) in their
possession and shall permit the other Party and its Affiliates, authorized agents and representatives and any representative of a Tax Authority or other Tax auditor direct access during normal business hours upon reasonable notice to any computer
program or information technology system used to access or store any Tax Records, in each case to the extent reasonably required by the other Party in connection with the preparation of Tax Returns or financial accounting statements, audits,
litigation, or the resolution of items under this Agreement. To the extent any Tax Records are required to be or are otherwise transferred by the Parties or their respective Affiliates to any person other than an Affiliate, the Party or its
respective Affiliate shall transfer such records to the other Party at such time. 
 ARTICLE IX 

TAX PROCEEDINGS 

Section 9.1 Notice. Within ten (10) Business Days after an Indemnified Party becomes aware of the
commencement of a Tax Proceeding that may give rise to Taxes for which an Indemnifying Party is responsible pursuant to Article III, such Indemnified Party shall notify the Indemnifying Party of such Tax Proceeding, and thereafter shall
promptly forward or make available to the Indemnifying Party copies of notices and communications relating to such Tax Proceeding. The failure of the Indemnified Party to notify the Indemnifying Party of the commencement of any such Tax Proceeding
within such ten (10) Business Day period or promptly forward any further notices or communications shall not relieve the Indemnifying Party of any obligation which it may have to the Indemnified Party under this Agreement except to the extent
that the Indemnifying Party is materially prejudiced by such failure. 
 Section 9.2 Control of Tax Proceedings.

 (a) HoldCo Income Tax Returns. 

(i) HoldCo shall be entitled to contest, compromise and settle in its sole discretion any adjustment to any Tax Item that is
proposed, asserted or assessed in connection with any Tax Proceeding with respect to (A) any HoldCo Consolidated Return or (B) any Separate Entity Tax Return that relates solely to Taxes for which HoldCo is liable under this Agreement.

  
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 (ii) If SpinCo Taxes are asserted in any Tax Proceeding otherwise
controlled by HoldCo under this Section 9.2(a), HoldCo shall (i) keep SpinCo timely informed of the actions proposed to be taken by HoldCo with respect to such assertion in such Tax Proceeding, (ii) permit SpinCo
to participate (at SpinCo’s cost and expense) in the aspects of such Tax Proceeding that relate solely to such SpinCo Taxes and (iii) not settle any aspect of such Tax Proceeding that relates to such SpinCo Taxes without the prior written
consent of SpinCo, which consent shall not be unreasonably withheld, delayed or conditioned. 
 (b) SpinCo Income Tax
Returns. 
 (i) SpinCo shall be entitled to contest, compromise and settle in its sole discretion any adjustment to any
Tax Item that is proposed, asserted or assessed in connection with any Tax Proceeding with respect to (A) any SpinCo Consolidated Return or (B) any Separate Entity Tax Return that relates solely to Taxes for which SpinCo is liable under
this Agreement. 
 (ii) If HoldCo Taxes are asserted in any Tax Proceeding otherwise controlled by SpinCo under this
Section 9.2(b), SpinCo shall (i) keep HoldCo timely informed of the actions proposed to be taken by SpinCo with respect to such assertion in such Tax Proceeding, (ii) permit HoldCo to participate (at HoldCo’s
cost and expense) in the aspects of such Tax Proceeding that relate solely to such HoldCo Taxes, and (iii) not settle any aspect of such Tax Proceeding that relates to such HoldCo Taxes without the prior written consent of HoldCo, which consent
shall not be unreasonably withheld, delayed or conditioned. 
 (c) Separate Entity Tax Returns. 

(i) Except as set forth in Section 9.2(a) and Section 9.2(b), HoldCo shall
be entitled to contest, compromise and settle any adjustment to any Tax Item that is proposed, asserted or assessed in connection with any Tax Proceeding with respect to any Separate Entity Tax Return prepared by HoldCo or a HoldCo Entity pursuant
to Section 2.2; provided, that to the extent that any aspect of such Tax Proceeding relates to SpinCo Taxes or would reasonably be expected to materially adversely affect the Tax position of SpinCo or any SpinCo
Entity, HoldCo shall (i) keep SpinCo informed in a timely manner of the actions proposed to be taken by HoldCo with respect to such aspects of such Tax Proceeding, (ii) permit SpinCo to participate (at SpinCo’s cost and expense) in
such aspects of such Tax Proceeding, and (iii) not settle any such aspect of such Tax Proceeding without the prior written consent of SpinCo, which shall not be unreasonably withheld, delayed or conditioned. 

(ii) Except as set forth in Section 9.2(a) and Section 9.2(b), SpinCo
shall be entitled to contest, compromise and settle any adjustment to any Tax Item that is proposed, asserted or assessed in connection with any Tax Proceeding with respect to any Separate Entity Tax Return prepared by SpinCo or a SpinCo Entity
pursuant to Section 2.2; provided, that to the extent that any aspect of such Tax Proceeding relates to HoldCo Taxes or would reasonably be expected to materially adversely affect the Tax position of HoldCo or any
HoldCo Entity, SpinCo shall (i) keep HoldCo informed in a timely manner of the actions proposed to be taken by SpinCo with respect to such aspects of such Tax Proceeding, (ii) permit HoldCo to participate (at HoldCo’s cost and
expense) in such aspects of such Tax Proceeding, and (iii) not settle any such aspect of such Tax Proceeding without the prior written consent of HoldCo, which shall not be unreasonably withheld, delayed or conditioned. 

  
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 (d) Distribution Taxes. Notwithstanding the other provisions of this
Section 9.2, HoldCo shall be entitled to contest, compromise and settle any Tax Proceeding relating to the Intended Tax Treatment or that would otherwise give rise to Distribution Taxes; provided, that to the extent
that any aspect of such Tax Proceeding (i) would reasonably be expected to materially adversely affect the Tax position of SpinCo or a SpinCo Entity, or (ii) SpinCo has previously acknowledged its potential liability under this Agreement
for any Distribution Tax-Related Losses arising out of such Tax Proceeding in writing, HoldCo shall (A) keep SpinCo informed in a timely manner of the actions proposed to be taken by HoldCo with respect
to such aspects of such Tax Proceeding, (B) permit SpinCo to participate (at SpinCo’s cost and expense) in such aspects of such Tax Proceeding, and (C) not settle any such aspect of such Tax Proceeding without the prior written
consent of SpinCo, which shall not be unreasonably withheld, delayed or conditioned. 
 (e)
Non-Income Tax Returns. The Party responsible for preparing the applicable Tax Return in accordance with the terms of this Agreement shall be entitled to contest, compromise and settle any adjustment
that is proposed, asserted or assessed pursuant to any Tax Proceeding with respect to any Tax Return other than an Income Tax Return, provided, that to the extent that any aspect of such Tax Proceeding relates to Taxes for which the other
Party is liable under this Agreement or would reasonably be expected to materially adversely affect the Tax position of the other Party, the first Party shall (i) keep the other Party informed in a timely manner of the actions proposed to be
taken by the first Party with respect to such aspects of such Tax Proceeding, (ii) permit the other Party to participate (at such other Party’s cost and expense) in such aspects of such Tax Proceeding, and (iii) not settle any such
aspect of such Tax Proceeding without the prior written consent of the other Party, which shall not be unreasonably withheld, delayed or conditioned. 

ARTICLE X 
 INTEREST
PAYMENTS 
 Section 10.1 Interest Under This Agreement. Anything herein to the contrary
notwithstanding, to the extent an Indemnifying Party makes a payment of interest to an Indemnified Party under this Agreement with respect to the period from the date that the Indemnified Party made a payment of Tax to a Tax Authority to the date
that the Indemnifying Party reimbursed the Indemnified Party for such Tax payment, the interest payment shall be treated as interest expense to the Indemnifying Party (deductible to the extent provided by law) and as interest income by the
Indemnified Party (includible in income to the extent provided by law). The amount of the payment shall not be adjusted to take into account any associated Tax Benefit to the Indemnifying Party or increase in Tax to the Indemnified Party. 

  
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 ARTICLE XI 

DISAGREEMENTS 

Section 11.1 Interaction with Article IX of the Separation Agreement. In the event of any dispute between the
Parties as to any matter covered by this Agreement, the Parties shall agree as to whether such dispute shall be governed by the procedures set forth in Section 11.2 and Section 11.3 of this
Agreement or in Article IX of the Separation Agreement. If the Parties cannot agree within thirty (30) days from the time such dispute arises as to which procedure will govern such dispute, such disagreement shall be resolved pursuant to
Article IX of the Separation Agreement. For the avoidance of doubt, Section 11.2 and Section 11.3 of this Agreement shall not apply to any dispute that is governed by Article IX of
the Separation Agreement. 
 Section 11.2 Discussion. The Parties mutually desire that collaboration will
continue between them. Accordingly, the Parties will, and will cause the respective members of their Groups to, use reasonable efforts to resolve via bilateral discussion all disagreements in respect of their respective rights and obligations under
this Agreement. In furtherance thereof, in the event of any dispute or disagreement between any member of the HoldCo Group and any member of the SpinCo Group as to the interpretation of any provision of this Agreement or the performance of the other
Party’s obligations hereunder, representatives of each of the Parties, including members of their respective Tax departments, shall negotiate in good faith to resolve such dispute. With respect to any dispute governed by
Section 11.2 and Section 11.3 of this Agreement, the Parties agree that the dispute resolution procedures specified in this Section 11.2 and
Section 11.3 shall be the sole and exclusive procedures for the resolution of disputes; provided, however, that any Party may seek a preliminary injunction or other preliminary judicial relief in aid of arbitration before
any court of competent jurisdiction if such action is necessary to avoid irreparable damage. Despite such action, the Parties shall continue to participate in good faith in the procedures specified in this Section 11.2 and
Section 11.3. 
 Section 11.3 Referral to Independent Arbiter. In the event any
dispute governed by Section 11.2 and this Section 11.3 is not resolved by bilateral discussion, the Parties shall appoint, with respect to any matter requiring the determination of the
Parties’ rights and obligations under this Agreement, a U.S. law firm of national standing or, with respect to any other matter, an internationally recognized independent public accounting firm (in each case, the “Independent
Arbiter”) to resolve such dispute. In this regard, the Independent Arbiter shall make determinations with respect to the disputed items based solely on representations made by HoldCo and SpinCo and their respective representatives, and not
by independent review, and shall function only as an expert and not as an arbitrator. The Parties shall require the Independent Arbiter to resolve all disputes no later than thirty (30) days after the submission of such dispute to the
Independent Arbiter, and agree that all decisions by the Independent Arbiter with respect thereto shall be final and conclusive and binding on the Parties. The Independent Arbiter shall resolve all disputes in a manner consistent with this Agreement
and, to the extent not inconsistent with this Agreement, in a manner consistent with Past Practices, except as otherwise required by applicable Law. The Parties shall require the Independent Arbiter to render all determinations in writing and to set
forth, in reasonable detail, the basis for such determination. The fees and expenses of the Independent Arbiter shall be borne by the Parties based on the inverse of the percentage that the Independent Arbiter’s resolution of the disputed items
(before such allocation) bears to the total amount of the disputed items as originally submitted to the Independent Arbiter (for example, if the total amount of the disputed items as originally submitted to the Independent Arbiter equals $1,000 and
the Independent Arbiter awards $600 in favor of the first Party’s position, sixty percent (60%) of the fees and expenses of the Independent Arbiter would be borne by the other Party and forty percent (40%) of the fees and expenses of the
Independent Arbiter would be borne by the first Party); provided, that if the matters referred to the Independent Arbiter cannot reasonably be reduced to monetary amounts (e.g., if such matters relate to the Parties’ rights and
obligations under this Agreement) the Independent Arbiter shall make a good faith allocation of such fees and expenses based on the foregoing principle. 

  
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 ARTICLE XII 

TERM AND COSTS 

Section 12.1 Effective Date; Prior Agreements. 

(a) Except as expressly set forth in this Agreement, this Agreement shall become effective as of the Distribution Time. 

(b) As of the Distribution Time, (i) all prior intercompany Tax allocation agreements or arrangements between one or more
members of the HoldCo Group, on the one hand, and one or more members of the SpinCo Group, on the other hand, shall be terminated; and (ii) amounts due under such agreements as of the Distribution Time shall be settled as of the Distribution
Time. Upon such termination and settlement, no further payments by or to HoldCo or by or to SpinCo, with respect to such agreements shall be made, and all other rights and obligations resulting from such agreements between the Parties and their
Affiliates shall cease at such time. 
 Section 12.2 Survival. The representations and warranties set forth in
this Agreement shall each survive the Distribution. The covenants and agreements set forth in this Agreement shall each survive until the full performance of all covenants and agreements set forth herein, in accordance with their terms.
Notwithstanding anything in this Agreement to the contrary, this Agreement shall remain in effect and its provisions shall survive for one year after the full period of all applicable statutes of limitation (giving effect to any extension, waiver or
mitigation thereof) and, with respect to any claim hereunder initiated prior to the end of such period, until such claim has been satisfied or otherwise resolved. 

Section 12.3 Expenses. Except as otherwise provided in this Agreement or the TSA, each Party and its Affiliates
shall bear their own expenses incurred in connection with preparation of Tax Returns, Tax Proceedings, and other matters related to Taxes under the provisions of this Agreement. 

Section 12.4 Payments. Except as otherwise specified herein, any payment required to be made pursuant to this
Agreement shall be made within sixty (60) days of notice thereof (including the reasonable basis of the demand therefor). All payments required to be made between the Parties under this Agreement shall be made in immediately available funds.

 Section 12.5 Interest. Any payment required to be made under this Agreement shall bear interest at the rate
equal to the “prime” rate as published in the Wall Street Journal, Eastern Edition, for the period from and including the Due Date (in the case of any amount relating to payment of Taxes or filing of a Tax Return), or otherwise the date
immediately following the date the obligation originated (after accounting for any grace period), through and including the date of payment. 

  
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 ARTICLE XIII 

GENERAL PROVISIONS 

Section 13.1 Counterparts; Entire Agreement; Conflicts; Corporate Power. 

(a) This Agreement may be executed in one or more counterparts, all of which shall be considered one and the same agreement.
Each Party acknowledges that it and the other Party may execute this Agreement by manual, stamp or mechanical signature, and that delivery of an executed counterpart of a signature page to this Agreement (whether executed by manual, stamp or
mechanical signature) by facsimile or by email in portable document format (PDF) shall be effective as delivery of such executed counterpart of this Agreement. Each Party expressly adopts and confirms a stamp or mechanical signature (regardless of
whether delivered in person, by mail, by courier, by facsimile or by email in portable document format (PDF)) made in its respective name as if it were a manual signature delivered in person, agrees that it shall not assert that any such signature
or delivery is not adequate to bind it to the same extent as if it were signed manually and delivered in person and agrees that, at the reasonable request of the other Party at any time, it shall as promptly as reasonably practicable cause this
Agreement to be manually executed (any such execution to be as of the date of the initial date hereof) and delivered in person, by mail or by courier. 

(b) The Separation Agreement, this Agreement and the other Ancillary Agreements, and any exhibits, schedules or annexes hereto
and thereto, contain the entire agreement between the Parties with respect to the subject matter hereof, supersede all previous agreements, negotiations, discussions, writings, understandings, commitments and conversations with respect to such
subject matter and there are no agreements or understandings between the Parties other than those set forth or referred to herein or therein. 

(c) HoldCo represents on behalf of itself and each other member of the HoldCo Group, and SpinCo represents on behalf of itself
and each other member of the SpinCo Group, as follows: 
 (i) each such Person has the requisite corporate or other power
and authority and has taken all corporate or other action necessary in order to execute, deliver and perform this Agreement and to consummate the transactions contemplated hereby; and 

(ii) this Agreement has been duly executed and delivered by it and constitutes, or will constitute, a valid and binding
agreement of it enforceable in accordance with the terms thereof. 
 Section 13.2 Governing Law. This Agreement
(and any claims or disputes arising out of or related hereto or to the transactions contemplated hereby or to the inducement of any party to enter herein, whether for breach of contract, tortious conduct or otherwise and whether predicated on common
law, statute or otherwise) shall be governed by and construed and interpreted in accordance with the Laws of the State of Georgia irrespective of the choice of Laws principles of the State of Georgia, including all matters of validity, construction,
effect, enforceability, performance and remedies. 

  
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 Section 13.3 Assignability. This Agreement shall inure to the
benefit of and be binding upon the Parties and their respective successors and permitted assigns. None of this Agreement or any of the rights, interests or obligations hereunder may be assigned or delegated, in whole or in part, by operation of Law
or otherwise, by any Party without the prior written consent of the other Party to this Agreement being so assigned or delegated, and any such assignment without such prior written consent shall be null and void. No such consent shall be required
for the assignment of a Party’s rights and obligations under this Agreement if: (a) any party to this Agreement (or any of its successors or permitted assigns) (i) shall consolidate with or merge into any other Person and shall not be
the continuing or surviving business entity of such consolidation or merger or (ii) shall transfer all or substantially all of its properties and/or assets to any Person; and (b) in any such case, the resulting, surviving or assignee
Person expressly assumes all of the obligations of the relevant party (or its successors or permitted assigns, as applicable) under this Agreement. No assignment permitted by this Section 13.3 shall release the assigning
party from liability for the full performance of its obligations under this Agreement. 
 Section 13.4 Third-Party
Beneficiaries. The provisions of this Agreement are solely for the benefit of the Parties hereto and their respective group members and their permitted successors and assigns, and are not intended to confer upon any Person except the Parties and
their respective Group members and their permitted successors and assigns, any rights or remedies hereunder and there are no third-party beneficiaries of this Agreement and this Agreement shall not provide any other third party with any remedy,
claim, reimbursement, claim of action or other right in excess of those existing without reference to this Agreement. 

Section 13.5 Notices. All notices shall be in writing and shall be given or made (and shall be deemed to have been
duly given or made upon receipt) by delivery in person, by overnight courier service, by electronic mail transmission (return receipt requested) or by registered or certified mail (postage prepaid, return receipt requested) to the respective Parties
at the following addresses (or at such other address for a Party as shall be specified in a notice given in accordance with this Section 13.5): 

If to HoldCo, then to: 

PROG Holdings, Inc. 

256 W. Data Drive 

Draper, Utah 84020 

Attn: Marvin Fentress 

Email: marvin.fentress@progleasing.com 

If to SpinCo, then to: 

The Aaron’s Company, Inc. 

400 Galleria Parkway SE, Suite 300 

Atlanta, Georgia 30339 

Attn: Rachel George 

Email: rachel.george@aarons.com 

  
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 Either Party may, by notice to the other Party, change the address to which
such notices are to be given. 
 Section 13.6 Severability. In the event that any one or more of the terms or
provisions of this Agreement the application thereof to any Person or circumstance is determined by a court of competent jurisdiction to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not
affect any other term or provision of this Agreement, or the application of such term or provision to Persons or circumstances or in jurisdictions other than those as to which it has been determined to be invalid, illegal or unenforceable, and the
Parties shall use their commercially reasonable efforts to substitute one or more valid, legal and enforceable terms or provisions into this Agreement which, insofar as practicable, implement the purposes and intent of the Parties. Any term or
provision of this Agreement held invalid or unenforceable only in part, degree or within certain jurisdictions shall remain in full force and effect to the extent not held invalid or unenforceable to the extent consistent with the intent of the
parties as reflected by this Agreement. To the extent permitted by applicable Law, each party waives any term or provision of Law which renders any term or provision of this Agreement to be invalid, illegal or unenforceable in any respect. 

Section 13.7 Headings. The article, section and paragraph headings contained in this Agreement are for reference
purposes only and shall not affect in any way the meaning or interpretation of this Agreement. 
 Section 13.8
Waivers of Default. No failure or delay of any Party (or its applicable Group members) in exercising any right or remedy under this Agreement shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or
power, or any abandonment or discontinuance of steps to enforce such right or power, or any course of conduct, preclude any other or further exercise thereof or the exercise of any other right or power. Waiver by any Party of any default by the
other Party of any provision of this Agreement shall not be deemed a waiver by the waiving Party of any subsequent or other default, nor shall it prejudice the rights of the waiving Party. 

Section 13.9 Consent to Jurisdiction. Subject to the provisions of ARTICLE IX of the Separation Agreement and
Article XI of this Agreement, each of the Parties irrevocably submits to the exclusive jurisdiction of (a) the Georgia State-Wide Business Court, and (b) the United States District Court for the Northern District of Georgia (the
“Georgia Courts”), for the purposes of any suit, action or other proceeding to compel arbitration or for provisional relief in aid of arbitration in accordance with ARTICLE IX of the Separation Agreement or Article XI of this Agreement, as
applicable, or for provisional relief to prevent irreparable harm, and to the non-exclusive jurisdiction of the Georgia Courts for the enforcement of any award issued thereunder or hereunder. Each of the
Parties further agrees that service of any process, summons, notice or document by United States registered mail to such Party’s respective address set forth in Section 13.5 shall be effective service of process for
any action, suit or proceeding in the Georgia Courts with respect to any matters to which it has submitted to jurisdiction in this Section 13.9. Each of the Parties irrevocably and unconditionally waives any objection to
any Georgia Court’s exercise of personal jurisdiction over the Parties and the laying of venue of any action, suit or proceeding arising out of this Agreement or the transactions contemplated hereby in the Georgia Courts, and hereby further
irrevocably and unconditionally waives and agrees not to plead or claim in any such court that any such action, suit or proceeding brought in any such court has been brought in an inconvenient forum. 

  
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 Section 13.10 Specific Performance. The Parties agree that
irreparable damage would occur in the event that the provisions of this Agreement were not performed in accordance with their specific terms. Accordingly, it is hereby agreed that the Parties shall be entitled to (a) an injunction or
injunctions issued in any arbitration in accordance with ARTICLE IX of the Separation Agreement to enforce specifically the terms and provisions hereof, (b) provisional or temporary injunctive relief in accordance with Section 9.03(j) of
the Separation Agreement in any Georgia Court, and (c) enforcement of any such award of an arbitral tribunal or a Georgia Court in any court of the United States, or any other any court or tribunal sitting in any state of the United States or
in any foreign country that has jurisdiction, this being in addition to any other remedy or relief to which they may be entitled. 

Section 13.11 Amendments. No provisions of this Agreement shall be deemed waived, amended, supplemented or
modified unless such waiver, amendment, supplement or modification is in writing and signed by an authorized representative of both Parties and their relevant Group members, as the case may be. 

Section 13.12 Interpretation. In this Agreement, (a) words in the singular shall be deemed to include the
plural and vice versa and words of one gender shall be deemed to include the other gender as the context requires; (b) the terms “hereof,” “herein” and “herewith” and words of similar import, unless otherwise
stated, shall be construed to refer to this Agreement as a whole (including all of the Schedules hereto) and not to any particular provision of this Agreement; (c) Article, Section or Schedule references are to the Articles, Sections and
Schedules of or to this Agreement, unless otherwise specified; (d) unless otherwise stated, all references to any agreement (including this Agreement) shall be deemed to include the schedules, exhibits and annexes to such agreement;
(e) any capitalized terms used in any Schedule to this Agreement but not otherwise defined therein shall have the meaning as defined in this Agreement; (f) any reference herein to this Agreement, unless otherwise stated, shall be construed
to refer to this Agreement as amended, supplemented or otherwise modified from time to time, in accordance with the terms thereof; (g) the word “including” and words of similar import when used in this Agreement means “including,
without limitation,” unless otherwise specified; (h) unless otherwise specified, the word “or” shall not be exclusive; (i) unless otherwise specified in a particular case, the word “days” refers to calendar days;
and (j) unless expressly stated to the contrary in this Agreement, all references to “the date hereof”, “the date of this Agreement”, “hereby” and “hereupon” and words of similar import shall all be
references to November 29, 2020. 
 Section 13.13 Group Members. HoldCo shall cause to be performed, and
hereby guarantees the performance of, all actions, agreements and obligations set forth herein to be performed by a member of the HoldCo Group and SpinCo shall cause to be performed, and hereby guarantees the performance of, all actions, agreements
and obligations set forth herein to be performed by a member of the SpinCo Group. 

  
 31 

 Section 13.14 Force Majeure. Neither Party shall be deemed in
default of this Agreement for failure to fulfill any obligation so long as and to the extent to which any delay or failure in the fulfillment of such obligations is prevented, frustrated, hindered or delayed as a consequence of circumstances of
Force Majeure. In the event of any such excused delay, the time for performance shall be extended for a period equal to the time lost by reason of the delay. A Party claiming the benefit of this provision shall, as soon as reasonably practicable
after the occurrence of any such event: (a) provide notice to the other Party of the nature and extent of any such Force Majeure condition; and (b) use commercially reasonable efforts to remove any such causes and resume performance under
this Agreement as soon as reasonably practicable; provided, that, prior to any Party invoking the benefit of this provision as a result of a Force Majeure with respect to the COVID-19 pandemic, such Party
shall use commercially reasonable efforts to mitigate the impact of the COVID-19 pandemic with respect to its failure or potential failure to fulfill any obligation under this Agreement. 

Section 13.15 Mutual Drafting. This Agreement shall be deemed to be the joint work product of the Parties and any
rule of construction that a document shall be interpreted or construed against a drafter of such document shall not be applicable. 

Section 13.16 No Reliance on Other Party. The Parties hereto represent to each other that this Agreement is
entered into with full consideration of any and all rights which the Parties hereto may have. The Parties hereto have relied upon their own knowledge and judgment and have conducted such investigations they and their
in-house counsel have deemed appropriate regarding this Agreement and their rights in connection with this Agreement. The Parties hereto are not relying upon any representations or statements made by any other
Party, or any such other Party’s employees, agents, representatives or attorneys, regarding this Agreement, except to the extent such representations are expressly set forth or incorporated in this Agreement. The Parties hereto are not relying
upon a legal duty, if one exists, on the part of any other Party (or any such other Party’s employees, agents, representatives or attorneys) to disclose any information in connection with the execution of this Agreement or its preparation, it
being expressly understood that no Party hereto shall ever assert any failure to disclose information on the part of any other Party as a ground for challenging this Agreement or any provision hereof. 

Section 13.17 Limited Liability. Notwithstanding any other provision of this Agreement, no individual who is a
shareholder, director, employee, officer, agent or representative of HoldCo or SpinCo, or any of their respective Group members, in such individual’s capacity as such, shall have any liability in respect of or relating to the covenants or
obligations of HoldCo or SpinCo, as applicable, under this Agreement or in respect of any certificate delivered with respect hereto and, to the fullest extent legally permissible, each HoldCo and SpinCo, for itself and its respective Group members
and its and their respective shareholders, directors, employees and officers, waives and agrees not to seek to assert or enforce any such liability that any such Person otherwise might have pursuant to applicable Law. 

Section 13.18 No Set-Off. Except as otherwise mutually agreed to in
writing by the Parties, none of the Parties nor any member of their respective Groups shall have any right of set-off or other similar rights with respect to (a) any amounts received pursuant to this
Agreement; or (b) any other amounts claimed to be owed to the other Parties or any member of their respective Groups arising out of this Agreement. 

  
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 Section 13.19 Waiver of Trial. EACH PARTY ACKNOWLEDGES AND
AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE IT HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY
LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT, AND ANY OF THE TRANSACTION DOCUMENTS OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY. EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT (I) NO REPRESENTATIVE, AGENT OR
ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE EITHER OF SUCH WAIVERS, (II) IT UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF SUCH WAIVERS,
(III) IT MAKES SUCH WAIVERS VOLUNTARILY AND (IV) IT HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 13.19. 

Section 13.20 HoldCo or SpinCo Affiliates. If, at any time, HoldCo or SpinCo acquires or
forms one or more Affiliates that are includable in the HoldCo Group or SpinCo Group, as the case may be, such entities shall be subject to this Agreement and all references to the HoldCo Group or SpinCo Group, as the case may be, herein shall
thereafter include a reference to such Affiliates. 

  
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 IN WITNESS WHEREOF, each Party has caused this Agreement to be executed on
its behalf by a duly authorized officer on the date first set forth above. 
  

			
	AARON’S HOLDINGS COMPANY, INC.
		
	 By:
	 	 /s/ Steven A. Michaels

	 Name: Steven A. Michaels

	 Title: Chief Executive Officer, Progressive Leasing

	
	THE AARON’S COMPANY, INC.
		
	 By:
	 	 /s/ Douglas A. Lindsay

	 Name: Douglas A. Lindsay

	 Title: Chief Executive Officer

 [Signature Page to Tax Matters Agreement]

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