Document:

THIRD AMENDMENT AND ASSIGNMENT TO

TENTH AMENDMENT TO 

RESTATED AND AMENDED PURCHASE AGREEMENT

 

This Tenth Amendment and Assignment to Restated and Amended Purchase Agreement ("Tenth Amendment") is effective as of the /6th/ of /October/, 2006, between MILLWORKS TOWN CENTER, LLC, an Ohio limited liability company ("Purchaser"), and THE KIRK & BLUM MANUFACTURING COMPANY, an Ohio corporation ("Seller").

WITNESSETH:

WHEREAS, Seller and Trademark Property Company entered into that certain Restated and Amended Purchase Agreement dated June 20, 2005, as amended by that certain First Amendment to Restated and Amended Purchase Agreement dated July 15, 2005 and the Second Amendment to Restated and Amended Purchase Agreement dated September 14, 2005; Seller, Trademark Property Company and Purchaser entered into the Third Amendment and Assignment to Restated and Amended Purchase Agreement dated October 20, 2005; Seller and Purchaser entered into the Fourth Amendment to Restated and Amended Purchase Agreement dated December 29, 2005; Seller and Purchaser entered into the Fifth Amendment to Restated and Amended Purchase Agreement dated March 1, 2006; Seller and Purchaser entered into the Sixth Amendment to Restated and Amended Purchase Agreement dated April 21, 2006; Seller and Purchaser entered into the Seventh Amendment to Restated and Amended Purchase Agreement dated May 9, 2006; Seller and Purchaser entered into the Eighth Amendment to Restated and Amended Purchase Agreement dated May 26, 2006; and Seller and Purchaser entered into the Ninth Amendment to Restated and Amended Purchase Agreement dated June 8, 2006 (as amended, the "Agreement"), covering the sale of two (2) separate parcels of land, as more particularly described therein (unless otherwise defined herein, all defined terms in this Tenth Amendment will have the same meaning as in the Agreement); and 

WHEREAS, Purchaser and Seller have previously agreed that the Closing of Parcel A was extended to occur on or before August 31, 2006;

NOW, THEREFORE, for good and valuable consideration -- which the parties acknowledge receiving -- Seller and Purchaser hereby agree as follows:

	Purchaser agrees to deposit, within two (2) business days of the execution date of this Tenth Amendment, Fifty Thousand Dollars ($50,000.00) (the "Escrow Deposit") in accordance with the escrow agreement between Purchaser and Seller of even date herewith (the "Escrow Agreement").  The Escrow Deposit shall be fully and unconditionally refundable to Purchaser until October 31, 2006.  Thereafter, the Escrow Deposit is refundable to Purchaser only in the event of default by Seller under the Agreement.  The Escrow Deposit shall be fully applicable to the Purchase Price at the Closing of Parcel A.  

	Purchaser agrees to deposit on or before October 31, 2006, Four Hundred Thousand Dollars ($400,000.00) (the "Additional Deposit") in accordance with the Escrow Agreement.  The Additional Deposit shall be refundable to Purchaser only in the event of default by Seller under the Agreement.  The Additional Deposit shall be fully applicable to the Purchase Price at the Closing of Parcel A.  

	All prior deposits and/or extension fees paid by or on behalf of Purchaser and/or Trademark Property Company shall be fully applicable to the Purchase Price at the Closing of Parcel A.  The parties agree that the total amount of such prior deposits and extension fees paid prior to the execution of this Tenth Amendment is Four Hundred Twenty-Five Thousand Dollars ($425,000.00), all of which is applicable to the Purchase Price at the Closing on Parcel A.

	Closing of Parcel A is hereby extended to on or before December 1, 2006.  

	Closing of Parcel B is hereby extended to on or before the later of (i) /August 15, 2007/ or (ii) thirty (30) days after Purchaser's receipt of written notice from Seller certifying that Seller has completely vacated Parcel B and is no longer occupying any portion thereof, but in no event shall Seller occupy Parcel B beyond the date which is ten (10) months after the Closing of Parcel A provided the Closing of Parcel B occurs.  

Except as specifically modified by the terms of this Tenth Amendment, all of the terms and provisions of the Agreement shall remain in full force and effect and unmodified and are hereby ratified by the parties.

This Agreement may be executed in any number of counterparts, each of which will be an original, and all of which -- when taken together -- will constitute one (1) document.  Facsimile signatures will be treated as original signatures for all purposes hereunder.  

 
EFFECTIVE as of the day and year first above written.

 

 

 
PURCHASER:MILLWORKS TOWN CENTER, LLC,
an Ohio limited liability company

 

By:/s/ Kent M. Arnold

Name:/s/ Kent M. Arnold

Its:/Managing Member/

 

 

 

SELLER:THE KIRK & BLUM MANUFACTURING COMPANY, 
an Ohio corporation

 

By:/s/Dennis W. Blazer 

Name:/s/Dennis W. Blazer

Its:/Treasurer/Form of common stock certificate

 Exhibit 4.1 
  

					
	NUMBER	  	

	  	COMMON STOCK
	GHS	  	  	  
 SHARES

		  	  	  
 THIS CERTIFICATE IS TRANSFERABLE
 IN NEW YORK, NY

		  	  	  
 CUSIP TO COME

		  	  	SEE REVERSE FOR CERTAIN DEFINITIONS

 GATEHOUSE MEDIA, INC. 
 INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE 
 THIS CERTIFIES THAT 
 is the owner of 
 FULLY PAID AND NON-ASSESSABLE SHARES OF COMMON STOCK, $.01 PAR VALUE, OF GATEHOUSE MEDIA, INC. 
 CERTIFICATE OF STOCK 
 transferable only on the books of the Corporation by the holder hereof in person or by duly authorized attorney
upon surrender of this Certificate properly endorsed. This Certificate and the shares represented hereby are issued and shall be held subject to all of the provisions of the Amended and Restated Certificate of Incorporation, and all amendments
thereto, to all of which the holder by acceptance hereof assents. This Certificate is not valid until countersigned by the Transfer Agent and registered by the Registrar. 
 Witness the facsimile seal of the Corporation and the facsimile signatures of its duly authorized officers. 
 Dated                                 

											
			
	 COUNTERSIGNED AND REGISTERED:
	  		  	
	AMERICAN STOCK TRANSFER & TRUST COMPANY	 		  	

	  		  	
		 	 (NEW YORK, NY)
	 		  	CHAIRMAN	  		  	
		 	 TRANSFER AGENT
 AND REGISTRAR
	 		  		  	[SEAL]	  	

	BY	 		 		  	

	  		  
		 	AUTHORIZED SIGNATURE	 		  	SECRETARY	  		  	

 American Bank Note Company 

 GATEHOUSE MEDIA, INC. 
 The Corporation will furnish to any stockholder upon request and without charge a full statement of the designations, preferences, conversion and other rights, voting powers, restrictions, limitations as to dividends,
qualifications, and terms and conditions of redemption of shares of each class authorized to be issued and, with respect to the classes of shares which may be issued in series, the differences in the relative rights and preferences between the
shares of each series, to the extent they have been set. Such request may be made to the Secretary of the Corporation at its principal office or to the Transfer Agent. 
 The following abbreviations, when used in the inscription on the face of this certificate, shall be construed as though they were written out in full according to applicable laws or regulations: 
  

									
	TEN COM	 	–	  	as tenants in common	  	UNIF GIFT MIN ACT–	  	                        Custodian            
            
	TEN ENT	 	–	  	as tenants by the entireties	  		  	        (Cust)                           
 (Minor)
	JT TEN	 	–	  	as joint tenants with right of survivorship and not as tenants in common	  		  	 under Uniform Gifts to Minors
 Act
                                

		 		  		  		  	                (State)

 Additional abbreviations may also be used though not in the above list. 
 For Value Received,
                                        
             hereby sell, assign and transfer unto 
  

	
	 PLEASE INSERT SOCIAL SECURITY OR OTHER
 IDENTIFYING NUMBER OF ASSIGNEE

	 
	   
	 

 ____________________________________________________________________________________________________________

 (PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING ZIP CODE, OF ASSIGNEE) 
 ____________________________________________________________________________________________________________ 
 ____________________________________________________________________________________________________________ 
 ______________________________________________________________________________________________________Shares 
 of the capital stock represented by
the within Certificate, and do hereby irrevocably constitute and appoint 
 __________________________________________________________________________________________________ Attorney 
 to transfer the said stock on the
books of the within named Corporation with full power of substitution in the premises. 
 Dated ____________________________ 
  

			
		
	  	  	  
	NOTICE:	  	THE SIGNATURE TO THIS ASSIGNMENT MUST CORRESPOND WITH THE NAME AS WRITTEN UPON THE FACE OF THE CERTIFICATE IN EVERY PARTICULAR, WITHOUT ALTERATION OR ENLARGEMENT OR ANY CHANGE
WHATEVER.

  

	
	 Signature(s) Guaranteed:

	
	   
	THE SIGNATURE(S) MUST BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE
GUARANTEE MEDALLION PROGRAM), PURSUANT TO S.E.C. RULE 17Ad-15.

 KEEP THIS CERTIFICATE IN A SAFE PLACE. IF IT IS LOST, STOLEN, MUTILATED OR DESTROYED, THE CORPORATION WILL
REQUIRE A BOND OF INDEMNITY AS A CONDITION TO THE ISSUANCE OF A REPLACEMENT CERTIFICATE.Form of Investor Rights Agreement

 Exhibit 4.2 
 INVESTOR RIGHTS AGREEMENT 
 BY AND AMONG 
 GATEHOUSE MEDIA, INC., 
 and

 FIF III LIBERTY HOLDINGS LLC 
 Dated as of October __, 2006 

 Table of Contents 
  

					
			
	  	  	 	  	Page
	ARTICLE I. DEFINITIONS	  	1
			
	 Section 1.1.
	  	Defined Terms.	  	1
		
	ARTICLE II. BOARD OF DIRECTORS	  	5
			
	 Section 2.1.
	  	Board	  	5
		
	ARTICLE III. REGISTRATION RIGHTS	  	5
	 Section 3.1.
	  	Demand Registration.	  	5
	 Section 3.2.
	  	Piggyback Registrations.	  	8
	 Section 3.3.
	  	Shelf Registration.	  	9
	 Section 3.4.
	  	Withdrawal Rights.	  	10
	 Section 3.5.
	  	Holdback Agreements.	  	11
	 Section 3.6.
	  	Registration Procedures.	  	11
	 Section 3.7.
	  	Registration Expenses.	  	15
	 Section 3.8.
	  	Indemnification.	  	16
		
	ARTICLE IV. MISCELLANEOUS	  	18
			
	 Section 4.1.
	  	Headings.	  	18
	 Section 4.2.
	  	Entire Agreement.	  	18
	 Section 4.3.
	  	Further Actions; Cooperation.	  	18
	 Section 4.4.
	  	Notices.	  	19
	 Section 4.5.
	  	Applicable Law.	  	20
	 Section 4.6.
	  	Severability.	  	20
	 Section 4.7.
	  	Successors and Assigns.	  	20
	 Section 4.8.
	  	Amendments.	  	21
	 Section 4.9.
	  	Waiver.	  	21
	 Section 4.10.
	  	Counterparts.	  	21
	 Section 4.11.
	  	Submission To Jurisdiction.	  	21
	 Section 4.12.
	  	Injunctive Relief.	  	21
	 Section 4.13.
	  	Recapitalizations, Exchanges, Etc.	  	22
	 Section 4.14.
	  	Termination.	  	22
	 Section 4.15.
	  	Rule 144.	  	22

  

 i 

 INVESTOR RIGHTS AGREEMENT 
 OF 
 GATEHOUSE MEDIA, INC. 
 THIS INVESTOR RIGHTS AGREEMENT (this “Agreement”) is made as of October     , 2006, by and among GateHouse Media, Inc., a Delaware corporation (the “Company”) and FIF III
Liberty Holdings LLC, a Delaware limited liability company (“FIF”). FIF is also referred to herein as the “Initial Stockholder.” Certain capitalized terms used in this Agreement are defined in Article I. Unless otherwise
indicated, references to articles and sections shall be to articles and sections of this Agreement. 
 WHEREAS, the Initial Stockholder is
the holder of shares of Common Stock (as hereinafter defined); and 
 WHEREAS, the Company has agreed to provide the registration and other
rights set forth herein. 
 NOW, THEREFORE, in consideration of the foregoing and of the mutual covenants and agreements set forth herein and
for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto hereby agree as follows: 
 ARTICLE I. 
 DEFINITIONS 
 Section 1.1. Defined Terms. For purposes of this Agreement, the following terms shall have the following meanings: 
 (a)
“Affiliate” shall have the meaning set forth in Rule 12b-2 promulgated under the Exchange Act; provided that no Stockholder shall be deemed an Affiliate of any other Stockholder solely by reason of any investment in the Company.

 (b) “Agreement” shall have the meaning assigned to it in the introductory paragraph. 
 (c) A Person shall be deemed to “Beneficially Own” securities if such Person is deemed to be a “beneficial owner” within the meaning
of Rules 13d-3 and 13d-5 under the Exchange Act as in effect on the date of this Agreement. 
 (d) “Board” shall have the meaning
assigned to it in Section 2.1(a). 
 (e) “Commission” shall mean the United States Securities and Exchange Commission or any
successor agency. 
 (f) “Common Stock” shall mean the Company’s common stock, par value $0.01 per share and any and all
securities of any kind whatsoever of the Company which may be issued and outstanding on or after the date hereof in respect of, in exchange for, or upon conversion of shares of Common Stock pursuant to a merger, consolidation, stock split, stock
dividend, recapitalization of the Company or otherwise. 

 (g) “Company” shall have the meaning assigned to it in the introductory paragraph. 

(h) “Company Securities” shall mean (i) any Common Stock and (ii) any other securities of the Company entitled to vote generally
in the election of directors of the Company. 
 (i) “Demand” shall have the meaning assigned to it in Section 3.1(a).

 (j) “Demand Registration” shall have the meaning assigned to it in Section 3.1(a). 
 (k) “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

 (l) “FIG Advisors” shall mean FIG Advisors LLC, a Delaware limited liability company, or any other Person designated as
“FIG Advisors” by Fortress Investment Group LLC in a written notice to the Company. 
 (m) “Form S-3” shall have the
meaning assigned to it in Section 3.3(a). 
 (n) “Initial Public Offering” shall mean the initial public offering of Common
Stock pursuant to an effective registration statement under the Securities Act. 
 (o) The term “Initial Stockholder” shall have
the meaning assigned to such term in the introductory paragraph. 
 (p) “Inspectors” shall have the meaning assigned to it in
Section 3.6(a)(viii). 
 (q) “Losses” shall have the meaning assigned to it in Section 3.8(a). 
 (r) “Other Demanding Sellers” shall have the meaning assigned to it in Section 3.2(b). 
 (s) “Other Proposed Sellers” shall have the meaning assigned to it in Section 3.2(b). 
 (t) “Permitted Transferee” shall mean, with respect to each Stockholder, (i) any other Stockholder, (ii) such Stockholder’s
Affiliates and (iii) in the case of any Stockholder, (A) any general or limited partner or member of such Stockholder, (B) any corporation, partnership, limited liability company or other entity that is an Affiliate of such
Stockholder or any general or limited partner of such Stockholder (collectively, “Stockholder Affiliates”), (C) any investment funds managed directly or indirectly by such Stockholder or any Stockholder Affiliates (a “Stockholder
Fund”), (D) any general or limited partner of any 
  

 2 

 Stockholder Fund, (E) any managing director, general partner, director, limited partner, officer or employee of any
Stockholder Affiliate, or any spouse, lineal descendant, sibling, parent, heir, executor, administrator, testamentary trustee, legatee or beneficiary of any of the foregoing persons described in this clause (E) (collectively, “Stockholder
Associates”) or (F) any trust, the beneficiaries of which, or any corporation, limited liability company or partnership, the stockholders, members or general or limited partners of which consist solely of any one or more of such
Stockholder, any general or limited partner of such Stockholder, any Stockholder Affiliates, any Stockholder Fund, any Stockholder Associates, their spouses or their lineal descendants. 
 (u) “Person” shall mean any individual, firm, corporation, partnership, limited liability company or other entity, and shall include any
successor (by merger or otherwise) of such entity. 
 (v) “Piggyback Notice” shall have the meaning assigned to it in
Section 3.2(a). 
 (w) “Piggyback Registrable Amount” shall mean an amount of Common Stock equal to 1% of the Common Stock
issued and outstanding immediately after the consummation of the Initial Public Offering. 
 (x) “Piggyback Registration” shall
have the meaning assigned to it in Section 3.2(a). 
 (y) “Piggyback Seller” shall have the meaning assigned to it in
Section 3.2(a). 
 (z) “Piggyback Stockholder” shall mean (i) the Initial Stockholder and (ii) each Permitted
Transferee who becomes a party to or bound by the provisions of this Agreement in accordance with the terms hereof or Permitted Transferee thereof who is entitled to enforce the provisions of this Agreement in accordance with the terms hereof, in
the case of clauses (i) and (ii), to the extent that such Initial Stockholder (irrespective of whether or not such Initial Stockholder owns any Registrable Securities) or such Permitted Transferee, together with its respective Permitted
Transferees, holds at least a Piggyback Registrable Amount. 
 (aa) “Public Offering” shall mean an offering of equity securities
of the Company pursuant to an effective registration statement under the Securities Act, including an offering in which Stockholders are entitled to sell Common Stock pursuant to the terms of this Agreement. 
 (bb) “Records” shall have the meaning assigned to it in Section 3.6(a)(viii). 
 (cc) “Registrable Amount” shall mean an amount of Common Stock equal to 5% of the Common Stock issued and outstanding immediately after the
consummation of the Initial Public Offering. 
  

 3 

 (dd) “Registrable Securities” shall mean any Common Stock currently owned or hereafter
acquired by any Stockholder. As to any particular Registrable Securities, such securities shall cease to be Registrable Securities when (x) a registration statement registering such securities under the Securities Act has been declared
effective and such securities have been sold or otherwise transferred by the holder thereof pursuant to such effective registration statement or (y) such securities are sold in accordance with Rule 144 (or any successor provision) promulgated
under the Securities Act. 
 (ee) “Requested Information” shall have the meaning assigned to it in Section 3.8(g).

 (ff) “Requesting Stockholder” shall have the meaning assigned to it in Section 3.1(a). 
 (gg) “Securities Act” shall mean the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder. 
 (hh) “Selling Holders” shall have the meaning assigned to it in Section 3.6(a)(i). 
 (ii) “Shelf Notice” shall have the meaning assigned to it in Section 3.3(a). 
 (jj) “Shelf Registration Statement” shall have the meaning assigned to it in Section 3.3(a). 
 (kk) “Stockholders” shall mean (i) the Initial Stockholder and (ii) each Permitted Transferee who becomes a party to or bound by the
provisions of this Agreement in accordance with the terms hereof or Permitted Transferee thereof who is entitled to enforce the provisions of this Agreement in accordance with the terms hereof, in the case of clauses (i) and (ii), to the extent
that such Initial Stockholder (irrespective of whether or not such Initial Stockholder owns any Registrable Securities) or such Permitted Transferee, together with its respective Permitted Transferees, hold at least a Registrable Amount. 

(ll) “Suspension Period” shall have the meaning assigned to it in Section 3.3(d). 
 (mm) “Underwritten Offering” shall mean a sale of securities of the Company to an underwriter or underwriters for reoffering to the public.

 (nn) “Voting Power of the Company” shall mean the total number of votes that may be cast in the election of directors of the
Company if all Company Securities were present and voted at a meeting held for such purpose. 
  

 4 

 ARTICLE II. 
 BOARD OF DIRECTORS 
 Section 2.1. Board. 
 (a) For so long as this Agreement is in effect, the Company shall take all necessary or desirable action within its control so as to elect to the board
of directors of the Company (the “Board”), and to continue in office, not more than seven (7) directors (or such other number to which FIG Advisors shall consent in writing) which shall include those directors designated by FIG
Advisors pursuant to Section 2.1(b) and to give effect to the provisions of this Section 2.1. 
 (b) So long as FIF and its
Permitted Transferees have Beneficial Ownership (as defined under the Exchange Act) of: 
 (i) more than 50% of the Voting Power of the
Company, FIG Advisors shall be entitled to designate four (4) directors to the Board, 
 (ii) less than 50% but more than 25% of the
Voting Power of the Company, FIG Advisors shall be entitled to designate three (3) directors to the Board, 
 (iii) less than 25% but
more than 10% of the Voting Power of the Company, FIG Advisors shall be entitled to designate two (2) directors to the Board, and 
 (iv) less than 10% but more than 5% of the Voting Power of the Company, FIG Advisors shall be entitled to designate one (1) director to the Board. 
 (c) In the event that any designee of FIG Advisors shall for any reason cease to serve as a member of the Board during his term of office, the resulting vacancy on the Board will be filled by an individual designated
by FIG Advisors. 
 ARTICLE III. 
 REGISTRATION RIGHTS 
 Section 3.1. Demand Registration. 
 (a) At any time after the six month anniversary of the date hereof, any Persons that on the date a Demand (as hereafter defined) is made constitute a
Stockholder (a “Requesting Stockholder”) shall be entitled to make a written request of the Company (a “Demand”) for registration under the Securities Act of an amount of Registrable Securities that, when taken together with the
amounts of Registrable Securities requested to be registered under the Securities Act by such Requesting Stockholder’s Affiliates, equals or is greater than the Registrable Amount (based on the number of Registrable Securities outstanding on
the date such Demand is made) (a “Demand Registration”) and thereupon the Company will, subject to the terms of this Agreement, use its commercially reasonable efforts to effect the registration under the Securities Act of: 
 (i) the Registrable Securities which the Company has been so requested to register by the Requesting Stockholders for disposition in accordance with the
intended method of disposition stated in such Demand; 
  

 5 

 (ii) all other Registrable Securities which the Company has been requested to register pursuant to
Section 3.1(b); and 
 (iii) all shares of Common Stock which the Company may elect to register in connection with any offering of
Registrable Securities pursuant to this Section 3.1, but subject to Section 3.1(g); 
 (iv) all to the extent necessary to permit
the disposition (in accordance with the intended methods thereof) of the Registrable Securities and the additional Common Stock, if any, to be so registered. 
 (b) A Demand shall specify: (i) the aggregate number of Registrable Securities requested to be registered in such Demand Registration, (ii) the intended method of disposition in connection with such Demand
Registration, to the extent then known and (iii) the identity of the Requesting Stockholder (or Requesting Stockholders). Within five days after receipt of a Demand, the Company shall give written notice of such Demand to any other Persons that
on the date a Demand is delivered to the Company constitute a Stockholder. Subject to Section 3.1(g), the Company shall include in the Demand Registration covered by such Demand all Registrable Securities with respect to which the Company has
received a written request for inclusion therein within ten days after the Company’s notice required by this paragraph has been given. Such written request shall comply with the requirements of a Demand as set forth in this Section 3.1(b).

 (c) Each Stockholder shall be entitled to an aggregate of four Demand Registrations. 
 (d) A Demand Registration shall not be deemed to have been effected and shall not count as a Demand (i) unless a registration statement with
respect thereto has become effective and has remained effective for a period of at least 60 days (or such shorter period in which all Registrable Securities included in such Demand Registration have actually been sold thereunder), (ii) if,
after it has become effective, such Demand Registration becomes subject to any stop order, injunction or other order or requirement of the Commission or other governmental agency or court for any reason or (iii) if the conditions to closing
specified in the purchase agreement or underwriting agreement entered into in connection with such Demand Registration are not satisfied, other than by reason of some act or omission by such Requesting Stockholders. 
 (e) Demand Registrations shall be on such appropriate registration form of the Commission as shall be selected by the Requesting Stockholders and shall
be reasonably acceptable to the Company. 
 (f) The Company shall not be obligated to (i) maintain the effectiveness of a registration
statement under the Securities Act, filed pursuant to a Demand Registration, for a period longer than 60 days or (ii) effect any Demand Registration (A) within six months of a “firm commitment” Underwritten Offering in which all
Piggyback Stockholders were given “piggyback” rights pursuant to Section 3.2 (subject to Section 3.1(g)) and at least 50% of the number of Registrable Securities requested by such Stockholders to be included in 
  

 6 

 such Demand Registration were included, (B) within four months of any other Demand Registration or (C) if, in
the Company’s reasonable judgment, it is not feasible for the Company to proceed with the Demand Registration because of the unavailability of audited financial statements. In addition, the Company shall be entitled to postpone (upon written
notice to all Stockholders) for up to 120 days the filing or the effectiveness of a registration statement for any Demand Registration (but no more than twice in any period of 12 consecutive months) if the Board determines in good faith and in its
reasonable judgment that the filing or effectiveness of the registration statement relating to such Demand Registration would cause the disclosure of material, non-public information that the Company has a bona fide business purpose for preserving
as confidential. In the event of a postponement by the Company of the filing or effectiveness of a registration statement for a Demand Registration, the holders of a majority of Registrable Securities held by the Requesting Stockholder(s) shall have
the right to withdraw such Demand in accordance with Section 3.4. 
 (g) The Company shall not include any securities other than
Registrable Securities in a Demand Registration, except with the written consent of Stockholders participating in such Demand Registration that hold a majority of the Registrable Securities included in such Demand Registration. If, in connection
with a Demand Registration, any managing underwriter (or, if such Demand Registration is not an Underwritten Offering, a nationally recognized independent investment bank selected by the Initial Stockholder or any of the Permitted Transferees
thereof (to the extent a Stockholder hereunder), reasonably acceptable to the Company, and whose fees and expenses shall be borne solely by the Company) advises the Company, in writing, that, in its opinion, the inclusion of all of the securities,
including securities of the Company that are not Registrable Securities, sought to be registered in connection with such Demand Registration would adversely affect the marketability of the Registrable Securities sought to be sold pursuant thereto,
then the Company shall include in such registration statement only such securities as the Company is advised by such underwriter can be sold without such adverse effect as follows and in the following order of priority: (i) first, up to the
number of Registrable Securities requested to be included in such Demand Registration by the Stockholders, which, in the opinion of the underwriter can be sold without adversely affecting the marketability of the offering, pro rata among such
Stockholders requesting such Demand Registration on the basis of the number of such securities requested to be included by such Stockholders and such Stockholders that are Piggyback Sellers; (ii) second, securities the Company proposes to sell;
and (iii) third, all other securities of the Company duly requested to be included in such registration statement, pro rata on the basis of the amount of such other securities requested to be included or such other method determined by the
Company. 
 (h) Anytime that a Demand Registration involves an Underwritten Offering, the Company shall select the investment banker or
investment bankers and managers that will serve as lead and co-managing underwriters with respect to the offering of such Registrable Securities, which shall be reasonably acceptable to Stockholders participating in such Demand Registration that
hold a majority of the Registrable Securities included in such Demand Registration. 
  

 7 

 Section 3.2. Piggyback Registrations. 
 (a) Subject to the terms and conditions hereof, whenever the Company proposes to register any of its equity securities under the Securities Act (other
than a registration by the Company on a registration statement on Form S-4 or a registration statement on Form S-8 or any successor forms thereto) (a “Piggyback Registration”), whether for its own account or for the account of others, the
Company shall give the Piggyback Stockholders prompt written notice thereof (but not less than ten business days prior to the filing by the Company with the Commission of any registration statement with respect thereto). Such notice (a
“Piggyback Notice”) shall specify, at a minimum, the number of equity securities proposed to be registered, the proposed date of filing of such registration statement with the Commission, the proposed means of distribution, the proposed
managing underwriter or underwriters (if any and if known) and a good faith estimate by the Company of the proposed minimum offering price of such equity securities. Upon the written request of any Persons that on the date of the Piggyback Notice
constitute a Piggyback Stockholder (a “Piggyback Seller”) (which written request shall specify the number of Registrable Securities then presently intended to be disposed of by such Piggyback Seller) given within ten days after such
Piggyback Notice is received by such Piggyback Seller, the Company, subject to the terms and conditions of this Agreement, shall use its reasonable best efforts to cause all such Registrable Securities held by Piggyback Sellers with respect to which
the Company has received such written requests for inclusion to be included in such Piggyback Registration on the same terms and conditions as the Company’s equity securities being sold in such Piggyback Registration. 
 (b) If, in connection with a Piggyback Registration, any managing underwriter (or, if such Piggyback Registration is not an Underwritten Offering, a
nationally recognized independent investment bank selected by the Initial Stockholder or any of its Permitted Transferees (to the extent a Stockholder hereunder), reasonably acceptable to the Company, and whose fees and expenses shall be borne
solely by the Company) advises the Company in writing that, in its opinion, the inclusion of all the equity securities sought to be included in such Piggyback Registration by (i) the Company, (ii) others who have sought to have equity
securities of the Company registered in such Piggyback Registration pursuant to rights to demand (other than pursuant to so-called “piggyback” or other incidental or participation registration rights) such registration (such Persons being
“Other Demanding Sellers”), (iii) the Piggyback Sellers and (iv) any other proposed sellers of equity securities of the Company (such Persons being “Other Proposed Sellers”), as the case may be, would adversely affect
the marketability of the equity securities sought to be sold pursuant thereto, then the Company shall include in the registration statement applicable to such Piggyback Registration only such equity securities as the Company is so advised by such
underwriter can be sold without such an effect, as follows and in the following order of priority: 
 (i) if the Piggyback Registration
relates to an offering for the Company’s own account, then (A) first, such number of equity securities to be sold by the Company as the Company, in its reasonable judgment and acting in good faith and in accordance with sound financial
practice, shall have determined, (B) second, Registrable Securities of Piggyback Sellers and securities sought to be registered by Other Demanding Sellers (if any), pro rata on the basis of the number of shares of Common Stock held by such
Piggyback Sellers and Other Demanding Sellers and (C) third, other equity securities held by any Other Proposed Sellers; or 
  

 8 

 (ii) if the Piggyback Registration relates to an offering other than for the Company’s own account,
then (A) first, such number of equity securities sought to be registered by each Other Demanding Seller and the Piggyback Sellers (if any), pro rata in proportion to the number of securities sought to be registered by all such Other Demanding
Sellers and Piggyback Sellers and (B) second, other equity securities held by any Other Proposed Sellers or to be sold by the Company as determined by the Company. 
 (c) In connection with any Underwritten Offering under this Section 3.2 for the Company’s account, the Company shall not be required to include a holder’s Registrable Securities in the Underwritten
Offering unless such holder accepts the terms of the underwriting as agreed upon between the Company and the underwriters selected by the Company; provided, that any such underwriting agreement includes only customary terms and conditions.

 (d) If, at any time after giving written notice of its intention to register any of its equity securities as set forth in this
Section 3.2 and prior to the time the registration statement filed in connection with such Piggyback Registration is declared effective, the Company shall determine for any reason not to register such equity securities, the Company may, at its
election, give written notice of such determination to each Piggyback Stockholder and thereupon shall be relieved of its obligation to register any Registrable Securities in connection with such particular withdrawn or abandoned Piggyback
Registration (but not from its obligation to pay the Registration Expenses in connection therewith as provided herein); provided, that Stockholders may continue the registration as a Demand Registration pursuant to the terms of Section 3.1.

 Section 3.3. Shelf Registration. 
 (a) Subject to Section 3.3(d), and further subject to the availability of a Registration Statement on Form S-3 (“Form S-3”) to the Company, the Initial Stockholder or any of its Permitted Transferees
(in each case to the extent a Stockholder hereunder) may by written notice delivered to the Company (the “Shelf Notice”) require the Company to file as soon as practicable (but no later than 60 days after the date the Shelf Notice is
delivered), and to use commercially reasonable efforts to cause to be declared effective by the Commission (within 90 days after such filing date), a Form S-3 providing for an offering to be made on a continuous basis pursuant to Rule 415 under the
Securities Act relating to the offer and sale, from time to time, of the Registrable Securities owned by the Initial Stockholder (or any of its Permitted Transferees), as the case may be, and any other Persons that at the time of the Shelf Notice
meet the definition of a Stockholder who elect to participate therein as provided in Section 3.3(b) in accordance with the plan and method of distribution set forth in the prospectus included in such Form S-3 (the “Shelf Registration
Statement”). 
 (b) Within five business days after receipt of a Shelf Notice pursuant to Section 3.3(a), the Company will deliver
written notice thereof to each Stockholder. Each Stockholder may elect to participate in the Shelf Registration Statement by delivering to the Company a written request to so participate within ten days after the Shelf Notice is received by any such
Stockholder. 
  

 9 

 (c) Subject to Section 3.3(d), the Company will use commercially reasonable efforts to keep the
Shelf Registration Statement continuously effective until the earlier of (i) one year after the Shelf Registration Statement has been declared effective; and (ii) the date on which all Registrable Securities covered by the Shelf
Registration Statement have been sold thereunder in accordance with the plan and method of distribution disclosed in the prospectus included in the Shelf Registration Statement, or otherwise. 
 (d) Notwithstanding anything to the contrary contained in this Agreement, the Company shall be entitled, from time to time, by providing written notice
to the Stockholders who elected to participate in the Shelf Registration Statement, to require such Stockholders to suspend the use of the prospectus for sales of Registrable Securities under the Shelf Registration Statement for a reasonable period
of time not to exceed 60 days in succession or 90 days in the aggregate in any 12 month period (a “Suspension Period”) if the Company shall determine that it is required to disclose in the Shelf Registration Statement a financing,
acquisition, corporate reorganization or other similar corporate transaction or other material event or circumstance affecting the Company or its securities, and that the disclosure of such information at such time would be detrimental to the
Company or its stockholders. Immediately upon receipt of such notice, the Stockholders covered by the Shelf Registration Statement shall suspend the use of the prospectus until the requisite changes to the prospectus have been made as required
below. Any Suspension Period shall terminate at such time as the public disclosure of such information is made. After the expiration of any Suspension Period and without any further request from a Stockholder, the Company shall as promptly as
reasonably practicable prepare a post-effective amendment or supplement to the Shelf Registration Statement or the prospectus, or any document incorporated therein by reference, or file any other required document so that, as thereafter delivered to
purchasers of the Registrable Securities included therein, the prospectus will not include an untrue statement of a material fact or omit to state any material fact necessary to make the statements therein, in the light of the circumstances under
which they were made, not misleading. 
 Section 3.4. Withdrawal Rights. Any Stockholder having notified or directed the Company to
include any or all of its Registrable Securities in a registration statement under the Securities Act shall have the right to withdraw any such notice or direction with respect to any or all of the Registrable Securities designated by it for
registration by giving written notice to such effect to the Company prior to the effective date of such registration statement. In the event of any such withdrawal, the Company shall not include such Registrable Securities in the applicable
registration and such Registrable Securities shall continue to be Registrable Securities for all purposes of this Agreement. No such withdrawal shall affect the obligations of the Company with respect to the Registrable Securities not so withdrawn;
provided, however, that in the case of a Demand Registration, if such withdrawal shall reduce the number of Registrable Securities sought to be included in such registration below the Registrable Amount, then the Company shall as promptly as
practicable give each holder of Registrable Securities sought to be registered notice to such effect and, within ten days following the mailing of such notice, such holder of Registrable Securities still seeking registration shall, by written notice
to the Company, elect to register additional Registrable Securities, when taken together with elections to register 
  

 10 

 Registrable Securities by its Affiliates, to satisfy the Registrable Amount or elect that such registration statement not
be filed or, if theretofore filed, be withdrawn. During such ten day period, the Company shall not file such registration statement if not theretofore filed or, if such registration statement has been theretofore filed, the Company shall not seek,
and shall use commercially reasonable efforts to prevent, the effectiveness thereof. Any registration statement withdrawn or not filed (a) in accordance with an election by the Company, (b) in accordance with an election by the Requesting
Stockholders in the case of a Demand Registration or by the Initial Stockholder or its Permitted Transferees (in each case to the extent a Stockholder hereunder) with respect to a Shelf Registration Statement or (c) in accordance with an
election by the Company subsequent to the effectiveness of the applicable Demand Registration statement because any post-effective amendment or supplement to the applicable Demand Registration statement contains information regarding the Company
which the Company deems adverse to the Company, shall not be counted as a Demand. 
 Section 3.5. Holdback Agreements. Each Stockholder
agrees not to effect any public sale or distribution (including sales pursuant to Rule 144) of equity securities of the Company, or any securities convertible into or exchangeable or exercisable for such equity securities, during any time period
reasonably requested by the Company (which shall not exceed 90 days) with respect to any Public Offering, Demand Registration or Piggyback Registration (in each case, except as part of such registration), or, in each case, a later date required by
any underwriting agreement with respect thereto. 
 Section 3.6. Registration Procedures. 
 (a) If and whenever the Company is required to use commercially reasonable efforts to effect the registration of any Registrable Securities under the
Securities Act as provided in Sections 3.1, 3.2 and 3.3 the Company shall as expeditiously as reasonably possible: 
 (i) prepare and file
with the Commission a registration statement to effect such registration and thereafter use commercially reasonable efforts to cause such registration statement to become and remain effective pursuant to the terms of this Agreement; provided,
however, that the Company may discontinue any registration of its securities which are not Registrable Securities at any time prior to the effective date of the registration statement relating thereto; provided, further that before filing such
registration statement or any amendments thereto, the Company will furnish to the counsel selected by the holders of Registrable Securities which are to be included in such registration (“Selling Holders”) copies of all such documents
proposed to be filed, which documents will be subject to the review of such counsel, and such review to be conducted with reasonable promptness; 
 (ii) prepare and file with the Commission such amendments and supplements to such registration statement and the prospectus used in connection therewith as may be necessary to keep such registration statement effective and to comply with
the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement until the earlier of such time as all of such securities have been disposed of in accordance with the intended methods of
disposition by the seller or sellers thereof set forth in such registration statement or (i) in the case of a Demand Registration pursuant to Section 3.1, 
  

 11 

 the expiration of 60 days after such registration statement becomes effective or (ii) in the case of a Piggyback
Registration pursuant to Section 3.2, the expiration of 60 days after such registration statement becomes effective or (iii) in the case of a Shelf Registration pursuant to Section 3.3, the expiration of one year after such
registration statement becomes effective; 
 (iii) furnish to each Selling Holder and each underwriter, if any, of the securities being sold
by such Selling Holder such number of conformed copies of such registration statement and of each amendment and supplement thereto (in each case including all exhibits), such number of copies of the prospectus contained in such registration
statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act, in conformity with the requirements of the Securities Act, and such other documents as such Selling
Holder and underwriter, if any, may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such seller; 
 (iv) use commercially reasonable efforts to register or qualify such Registrable Securities covered by such registration statement under such other securities laws or blue sky laws of such jurisdictions as any Selling
Holder and any underwriter of the securities being sold by such Selling Holder shall reasonably request, and take any other action which may be reasonably necessary or advisable to enable such Selling Holder and underwriter to consummate the
disposition in such jurisdictions of the Registrable Securities owned by such Selling Holder, except that the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein
it would not but for the requirements of this clause (iv) be obligated to be so qualified, to subject itself to taxation in any such jurisdiction or to file a general consent to service of process in any such jurisdiction; 
 (v) use commercially reasonable efforts to cause such Registrable Securities to be listed on each securities exchange on which similar securities issued
by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such Registrable Securities to be listed on the New York Stock Exchange, the American Stock Exchange or the Nasdaq Stock Market;

 (vi) use commercially reasonable efforts to cause such Registrable Securities covered by such registration statement to be registered
with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) thereof to consummate the disposition of such Registrable Securities; 
 (vii) in connection with an Underwritten Offering, obtain for each Selling Holder and underwriter: 
 (1) an opinion of counsel for the Company, covering the matters customarily covered in opinions requested in underwritten offerings and
such other matters as may be reasonably requested by such Selling Holder and underwriters, and 
 (2) a “comfort”
letter (or, in the case of any such Person which does not satisfy the conditions for receipt of a “comfort” letter specified in 
  

 12 

 Statement on Auditing Standards No. 72, an “agreed upon procedures” letter) signed by the
independent public accountants who have certified the Company’s financial statements included in such registration statement; 
 (viii)
promptly make available for inspection by any seller, any underwriter participating in any disposition pursuant to any registration statement, and any attorney, accountant or other agent or representative retained by any such seller or underwriter
(collectively, the “Inspectors”), all financial and other records, pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due
diligence responsibility, and cause the Company’s officers, directors and employees to supply all information requested by any such Inspector in connection with such registration statement; provided, however, that, unless the disclosure of such
Records is necessary to avoid or correct a misstatement or omission in the registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, the Company shall not be
required to provide any information under this subparagraph (viii) if (i) the Company believes, after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege that was
applicable to such information or (ii) if either (A) the Company has requested and been granted from the SEC confidential treatment of such information contained in any filing with the SEC or documents provided supplementally or otherwise
or (B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable
Securities requesting such information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable to the Company; and provided, further, that each Holder of Registrable Securities agrees that
it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake appropriate action and to prevent disclosure of the Records deemed
confidential; 
 (ix) promptly notify in writing each Selling Holder and the underwriters, if any, of the following events: 
 (1) the filing of the registration statement, the prospectus or any prospectus supplement related thereto or post-effective amendment to
the registration statement, and, with respect to the registration statement or any post-effective amendment thereto, when the same has become effective; 
 (2) any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional information; 
 (3) the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation of any
proceedings by any Person for that purpose; and 
 (4) the receipt by the Company of any notification with respect to the
suspension of the qualification of any Registrable Securities for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose; 
  

 13 

 (x) notify each Selling Holder, at any time when a prospectus relating thereto is required to be
delivered under the Securities Act, upon discovery that, or upon the happening of any event as a result of which, the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to
state any material fact required to be stated therein or necessary to make the statements therein not misleading, and, at the request of any Selling Holder, promptly prepare and furnish to such seller a reasonable number of copies of a supplement to
or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact
required to be stated therein or necessary to make the statements therein not misleading; 
 (xi) make every reasonable effort to obtain the
withdrawal of any order suspending the effectiveness of such registration statement; 
 (xii) otherwise use commercially reasonable efforts
to comply with all applicable rules and regulations of the Commission, and make available to Selling Holders, as soon as reasonably practicable, an earnings statement covering the period of at least 12 months, but not more than 18 months, beginning
with the first day of the Company’s first full quarter after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder;

 (xiii) use its reasonable best efforts to assist Stockholders who made a request to the Company to provide for a third party “market
maker” for the Common Stock; provided, however, that the Company shall not be required to serve as such “market maker”; 
 (xiv) cooperate with the sellers and the managing underwriter to facilitate the timely preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law) representing securities sold
under any registration statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or such sellers may request and keep available and make available to the Company’s transfer agent
prior to the effectiveness of such registration statement a supply of such certificates; and 
 (xv) have appropriate officers of the
Company prepare and make presentations at any “road shows” and before analysts and rating agencies, as the case may be, take other actions to obtain ratings for any Registrable Securities (if they are eligible to be rated) and otherwise
use its reasonable best efforts to cooperate as reasonably requested by the Selling Holders and the underwriters in the offering, marketing or selling of the Registrable Securities. 
 The Company may require each Selling Holder and each underwriter, if any, to furnish the Company in writing such information regarding each Selling
Holder or underwriter and the distribution of such Registrable Securities as the Company may from time to time reasonably request to complete or amend the information required by such registration statement. 
  

 14 

 (b) Without limiting any of the foregoing, in the event that the offering of Registrable Securities is
to be made by or through an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations, warranties, indemnities and agreements customarily included (but not inconsistent
with the covenants and agreements of the Company contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account of, or on behalf of, such issuers. In connection with any offering
of Registrable Securities registered pursuant to this Agreement, the Company shall furnish to the underwriter, if any (or, if no underwriter, the sellers of such Registrable Securities), unlegended certificates representing ownership of the
Registrable Securities being sold, in such denominations as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with respect thereto. 
 (c) Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described in
Section 3.6(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities pursuant to the applicable registration statement and prospectus relating thereto until such Selling
Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 3.6(a)(ix) and, if so directed by the Company, deliver to the Company, at the Company’s expense, all copies, other than permanent file
copies, then in such Selling Holder’s possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event the Company shall give such notice, any applicable 60 day or one year period
during which such registration statement must remain effective pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding the happening of an event of the kind described in
Section 3.6(a)(ix) to the date when all such Selling Holders shall receive such a supplemented or amended prospectus and such prospectus shall have been filed with the Commission. 
 Section 3.7. Registration Expenses. All expenses incident to the Company’s performance of, or compliance with, its obligations under this
Agreement including, without limitation, all registration and filing fees, all fees and expenses of compliance with securities and “blue sky” laws, all fees and expenses associated with filings required to be made with the NASD (including,
if applicable, the fees and expenses of any “qualified independent underwriter” as such term is defined in Schedule E of the By-Laws of the NASD), all fees and expenses of compliance with securities and “blue sky” laws, all
printing (including, without limitation, expenses of printing certificates for the Registrable Securities in a form eligible for deposit with the Depository Trust Company and of printing prospectuses if the printing of prospectuses is requested by a
holder of Registrable Securities) and copying expenses, all messenger and delivery expenses, all fees and expenses of the Company’s independent certified public accountants and counsel (including, without limitation, with respect to
“comfort” letters and opinions) and fees and expenses of one firm of counsel to the Stockholders selling in such registration (which firm shall be selected by the Stockholders selling in such registration that hold a majority of the
Registrable Securities included in such registration) (collectively, the “Registration Expenses”) shall be borne by the Company, regardless of whether a registration is 
  

 15 

 effected. The Company will pay its internal expenses (including, without limitation, all salaries and expenses of its
officers and employees performing legal or accounting duties, the expense of any annual audit and the expense of any liability insurance) and the expenses and fees for listing the securities to be registered on each securities exchange and included
in each established over-the-counter market on which similar securities issued by the Company are then listed or traded. Each Selling Holder shall pay its portion of all underwriting discounts and commissions and transfer taxes, if any, relating to
the sale of such Selling Holder’s Registrable Securities pursuant to any registration. 
 Section 3.8. Indemnification. 

(a) The Company agrees to indemnify and hold harmless, to the fullest extent permitted by law, each Selling Holder, its officers, directors,
employees, managers, partners and agents and each Person who controls (within the meaning of Section 15 of the Securities Act and Section 20 of the Exchange Act) such Selling Holder or such other indemnified Person from and against all
losses, claims, damages, liabilities and expenses (including reasonable expenses of investigation and reasonable attorneys’ fees and expenses) (collectively, the “Losses”) caused by, resulting from or relating to any untrue statement
(or alleged untrue statement) of a material fact contained in any registration statement, prospectus or preliminary prospectus (including any issuer free writing prospectus) or any amendment thereof or supplement thereto or any omission (or alleged
omission) of a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading, except insofar as the same are caused by any information furnished in
writing to the Company by such Selling Holder expressly for use therein. In connection with an Underwritten Offering and without limiting any of the Company’s other obligations under this Agreement, the Company shall also indemnify such
underwriters, their officers, directors, employees and agents and each Person who controls (within the meaning of Section 15 of the Securities Act and Section 20 of the Exchange Act) such underwriters or such other indemnified Person to
the same extent as provided above with respect to the indemnification (and exceptions thereto) of the holders of Registrable Securities being sold. Reimbursements payable pursuant to the indemnification contemplated by this Section 3.8(a) will
be made by periodic payments during the course of any investigation or defense, as and when bills are received or expenses incurred. 
 (b)
In connection with any registration statement in which a holder of Registrable Securities is participating, each such Selling Holder will furnish to the Company in writing information regarding such Selling Holder’s ownership of Registrable
Securities and its intended method of distribution thereof and, to the extent permitted by law, shall, severally and not jointly, indemnify the Company, its directors, officers, employees and agents and each Person who controls (within the meaning
of Section 15 of the Securities Act and Section 20 of the Exchange Act) the Company or such other indemnified Person against all Losses caused by any untrue statement of material fact contained in the registration statement, prospectus or
preliminary prospectus (including any issuer free writing prospectus) or any amendment thereof or supplement thereto or any omission of a material fact required to be stated therein or necessary to make the statements therein, in light of the
circumstances under which they were made, not misleading, but only to the extent that such untrue statement or omission is caused by and contained in such information so furnished in writing by such Selling Holder expressly for 
  

 16 

 use therein; provided, however, that each Selling Holder’s obligation to indemnify the Company hereunder shall, to
the extent more than one Selling Holder is subject to the same indemnification obligation, be apportioned between each Selling Holder based upon the net amount received by each Selling Holder from the sale of Registrable Securities, as compared to
the total net amount received by all of the Selling Holders of Registrable Securities sold pursuant to such registration statement. Notwithstanding the foregoing, no Selling Holder shall be liable to the Company for amounts in excess of the lesser
of (i) such apportionment and (ii) the net amount received by such holder in the offering giving rise to such liability. 
 (c)
Any Person entitled to indemnification hereunder shall give prompt written notice to the indemnifying party of any claim with respect to which it seeks indemnification; provided, however, the failure to give such notice shall not release the
indemnifying party from its obligation, except to the extent that the indemnifying party has been materially prejudiced by such failure to provide such notice on a timely basis. 
 (d) In any case in which any such action is brought against any indemnified party, and it notifies an indemnifying party of the commencement thereof,
the indemnifying party will be entitled to participate therein, and, to the extent that it may wish, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with counsel reasonably satisfactory to such
indemnified party, and after notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof, the indemnifying party will not (so long as it shall continue to have the right to defend, contest, litigate
and settle the matter in question in accordance with this paragraph) be liable to such indemnified party hereunder for any legal or other expense subsequently incurred by such indemnified party in connection with the defense thereof other than
reasonable costs of investigation, supervision and monitoring (unless (i) such indemnified party reasonably objects to such assumption on the grounds that there may be defenses available to it which are different from or in addition to the
defenses available to such indemnifying party or (ii) the indemnifying party shall have failed within a reasonable period of time to assume such defense and the indemnified party is or is reasonably likely to be prejudiced by such delay, in
either event the indemnified party shall be promptly reimbursed by the indemnifying party for the expenses incurred in connection with retaining separate legal counsel). An indemnifying party shall not be liable for any settlement of an action or
claim effected without its consent. The indemnifying party shall lose its right to defend, contest, litigate and settle a matter if it shall fail to diligently contest such matter (except to the extent settled in accordance with the next following
sentence). No matter shall be settled by an indemnifying party without the consent of the indemnified party (which consent shall not be unreasonably withheld, it being understood that the indemnified party shall not be deemed to be unreasonable in
withholding its consent if the proposed settlement imposes any obligation on the indemnified party other than the payment of money). 
 (e)
The indemnification provided for under this Agreement shall remain in full force and effect regardless of any investigation made by or on behalf of the indemnified Person and will survive the transfer of the Registrable Securities and the
termination of this Agreement. 
 (f) If recovery is not available under the foregoing indemnification provisions for any reason or reasons
other than as specified therein, any Person who would 
  

 17 

 otherwise be entitled to indemnification by the terms thereof shall nevertheless be entitled to contribution with respect
to any Losses with respect to which such Person would be entitled to such indemnification but for such reason or reasons. In determining the amount of contribution to which the respective Persons are entitled, there shall be considered the
Persons’ relative knowledge and access to information concerning the matter with respect to which the claim was asserted, the opportunity to correct and prevent any statement or omission, and other equitable considerations appropriate under the
circumstances. It is hereby agreed that it would not necessarily be equitable if the amount of such contribution were determined by pro rata or per capita allocation. No Person guilty of fraudulent misrepresentation (within the meaning of
Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not found guilty of such fraudulent misrepresentation. Notwithstanding the foregoing, no Selling Holder or transferee thereof shall be required to
make a contribution in excess of the net amount received by such holder from its sale of Registrable Securities in connection with the offering that gave rise to the contribution obligation. 
 (g) Not less than five business days before the expected filing date of each registration statement pursuant to this Agreement, the Company shall notify
each Stockholder who has timely provided the requisite notice hereunder entitling the Stockholder to register Registrable Securities in such registration statement of the information, documents and instruments from such Stockholder that the Company
or any underwriter reasonably requests in connection with such registration statement, including, but not limited to a questionnaire, custody agreement, power of attorney, lock-up letter and underwriting agreement (the “Requested
Information”). If the Company has not received, on or before the second day before the expected filing date, the Requested Information from such Stockholder, the Company may file the Registration Statement without including Registrable
Securities of such Stockholder. The failure to so include in any registration statement the Registrable Securities of a Stockholder (with regard to that registration statement) shall not in and of itself result in any liability on the part of the
Company to such Stockholder. 
 ARTICLE IV. 
 MISCELLANEOUS 
 Section 4.1. Headings. The headings in this Agreement are for convenience of reference
only and shall not control or effect the meaning or construction of any provisions hereof. 
 Section 4.2. Entire Agreement. This
Agreement constitute the entire agreement and understanding of the parties hereto in respect of the subject matter contained herein, and there are no restrictions, promises, representations, warranties, covenants, conditions or undertakings with
respect to the subject matter hereof, other than those expressly set forth or referred to herein. This Agreement supersedes all prior agreements and understandings between the parties hereto with respect to the subject matter hereof. 
 Section 4.3. Further Actions; Cooperation. Each of the Stockholders agrees to use its reasonable efforts to take, or cause to be taken, all actions
and to do, or cause to be done, and to assist and cooperate with the other parties in doing, all things necessary, proper or 
  

 18 

 advisable to give effect to the transactions contemplated by this Agreement. Without limiting the generality of the
foregoing, each of the Stockholders (i) acknowledges that the Stockholders will prepare and file with the Commission filings under the Exchange Act, including under Section 13(d) of the Exchange Act, relating to their beneficial ownership
of the Common Stock and (ii) agrees to use its reasonable efforts to assist and cooperate with the other parties in promptly preparing, reviewing and executing any such filings under the Exchange Act, including any amendments thereto.

 Section 4.4. Notices. All notices, requests, consents and other communications hereunder to any party shall be deemed to be
sufficient if contained in a written instrument delivered in person or sent by telecopy, nationally recognized overnight courier or first class registered or certified mail, return receipt requested, postage prepaid, addressed to such party at the
address set forth below or such other address as may hereafter be designated on the signature pages of this Agreement or in writing by such party to the other parties: 
 (a) If to FIF III Liberty Holdings LLC, to: 
 c/o Fortress Investment Group, LLC 
 1345 Avenue of the Americas, 46th Floor 
 New York, NY 10105 
 Fax: (212) 798-6122 
 Attn: Randal A. Nardone 
 with a copy (which shall not constitute notice) to: 

Willkie Farr & Gallagher LLP 
 787 Seventh Avenue 
 New York, NY 10019 
 Fax: (212) 728-9219 
 Attn: William N. Dye, Esq. 
 (b) If a Stockholder that is not an Initial Stockholder, then to the address set forth on such Stockholder’s signature page hereto. 
 A copy of each notice delivered pursuant to this Agreement shall be delivered to the Company in accordance with this Section 4.4 at the following address:

 GateHouse Media, Inc. 
 350
WillowBrook Office Park 
 Fairport, NY 14450 
 Fax: (585) 248-9562 
 Attn: Polly G. Sack, Esq. 
  

 19 

 with a copy (which shall not constitute notice) to: 
 Fortress Investment Group, LLC 
 1345 Avenue
of the Americas, 46th Floor 
 New York, NY 10105 
 Fax: (212) 798-6122 
 Attn: Randal A. Nardone 
 and 
 Willkie Farr & Gallagher
LLP 
 787 Seventh Avenue 
 New
York, NY 10019 
 Fax: (212) 728-9219 
 Attn: William N. Dye, Esq. 
 All such notices, requests, consents and other communications shall be deemed to have been
given or made if and when received (including by overnight courier) by the parties at the above addresses or sent by electronic transmission, with confirmation received, to the telecopy numbers specified above (or at such other address or telecopy
number for a party as shall be specified by like notice). Any notice delivered by any party hereto to any other party hereto shall also be delivered to each other party hereto simultaneously with delivery to the first party receiving such notice.

 Section 4.5. Applicable Law. The substantive laws of the State of Delaware shall govern the interpretation, validity and performance
of the terms of this Agreement, without regard to conflicts of law doctrines. THE PARTIES HERETO WAIVE THEIR RIGHT TO A JURY TRIAL WITH RESPECT TO DISPUTES HEREUNDER. 
 Section 4.6. Severability. The invalidity, illegality or unenforceability of one or more of the provisions of this Agreement in any jurisdiction shall not affect the validity, legality or enforceability of the
remainder of this Agreement, including any such provisions, in any other jurisdiction, it being intended that all rights and obligations of the parties hereunder shall be enforceable to the fullest extent permitted by law. 
 Section 4.7. Successors and Assigns. Except as otherwise provided herein, all the terms and provisions of this Agreement shall be binding upon,
shall inure to the benefit of and shall be enforceable by the respective successors and permitted assigns of the parties hereto. No Stockholder may assign any of its rights hereunder to any Person other than a Permitted Transferee. Each Permitted
Transferee of any Stockholder, shall be subject to all of the terms of this Agreement, and by taking and holding such shares such Person shall be entitled to receive the benefits of and be conclusively deemed to have agreed to be bound by and to
comply with all of the terms and provisions of this Agreement; provided, however, no transfer of rights permitted hereunder shall be binding upon or obligate the Company unless and until (i) the Company shall have received written notice of
such transfer and (ii) such transferee can establish beneficial ownership or ownership of record of a Registrable Amount (whether individually or together with its Affiliates that are Stockholders or transferees of Stockholders and, if
applicable, its other Permitted Transferees that are Stockholders or transferees of Stockholders). The Company may not assign any of its rights or obligations hereunder without the prior written consent of each of the Stockholders. Notwithstanding
the foregoing, no successor or assignee of the Company shall have any rights granted under this Agreement until such Person shall acknowledge its rights and obligations hereunder by a signed written statement of such Person’s acceptance of such
rights and obligations. 
  

 20 

 Section 4.8. Amendments. This Agreement may not be amended, modified or supplemented unless such
amendment, modification or supplement is in writing and signed by each of the Stockholders and the Company. 
 Section 4.9. Waiver. The
failure of a party hereto at any time or times to require performance of any provision hereof shall in no manner affect its right at a later time to enforce the same. No waiver by a party of any condition or of any breach of any term, covenant,
representation or warranty contained in this Agreement shall be effective unless in a writing signed by the party against whom the waiver is to be effective, and no waiver in any one or more instances shall be deemed to be a further or continuing
waiver of any such condition or breach in other instances or a waiver of any other condition or breach of any other term, covenant, representation or warranty. 
 Section 4.10. Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original but all of which shall constitute one and the same Agreement. 
 Section 4.11. Submission To Jurisdiction. ANY LEGAL ACTION OR PROCEEDING WITH RESPECT TO THIS AGREEMENT AND ANY ACTION FOR ENFORCEMENT OF ANY
JUDGMENT IN RESPECT THEREOF MAY BE BROUGHT IN THE COURTS OF THE STATE OF NEW YORK OR OF THE UNITED STATES OF AMERICA FOR THE SOUTHERN DISTRICT OF NEW YORK AND, BY EXECUTION AND DELIVERY OF THIS AGREEMENT, EACH PARTY HERETO HEREBY ACCEPTS FOR ITSELF
AND IN RESPECT OF ITS PROPERTY, GENERALLY AND UNCONDITIONALLY, THE NON-EXCLUSIVE JURISDICTION OF THE AFORESAID COURTS AND THE APPELLATE COURTS THEREOF. EACH PARTY HERETO IRREVOCABLY CONSENTS TO THE SERVICE OF PROCESS OUT OF ANY OF THE AFOREMENTIONED
COURTS IN ANY SUCH ACTION OR PROCEEDING BY THE MAILING OF COPIES THEREOF BY REGISTERED OR CERTIFIED MAIL, POSTAGE PREPAID, TO SUCH PARTY AT THE ADDRESS FOR NOTICES SET FORTH HEREIN. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES ANY OBJECTION WHICH IT
MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY OF THE AFORESAID ACTIONS OR PROCEEDINGS ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT BROUGHT IN THE COURTS REFERRED TO ABOVE AND HEREBY FURTHER IRREVOCABLY WAIVES AND AGREES NOT TO PLEAD
OR CLAIM IN ANY SUCH COURT THAT ANY SUCH ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. 
 Section 4.12. Injunctive Relief. Each party hereto acknowledges and agrees that a violation of any of the terms of this Agreement will cause the other parties irreparable injury for which an adequate remedy at law is not available.
Therefore, the Stockholders agree that each party shall be entitled to, an injunction, restraining order, specific performance or other equitable relief from any court of competent jurisdiction, restraining any party from committing any violations
of the provisions of this Agreement. 
  

 21 

 Section 4.13. Recapitalizations, Exchanges, Etc. Affecting the shares of Common Stock; New
Issuances. The provisions of this Agreement shall apply, to the full extent set forth herein with respect to Company Securities and to any and all equity or debt securities of the Company or any successor or assign of the Company (whether by merger,
consolidation, sale of assets, or otherwise) which may be issued in respect of, in exchange for, or in substitution of, such Company Securities and shall be appropriately adjusted for any stock dividends, splits, reverse splits, combinations,
reclassifications, recapitalizations, reorganizations and the like occurring after the date hereof. 
 Section 4.14. Termination. Upon
the mutual consent of all of the parties hereto or, with respect to each Stockholder, at such earlier time as such Stockholder and its Affiliates and Permitted Transferees ceases to beneficially own a Registrable Amount, the terms of this Agreement
shall terminate, and be of no further force and effect; provided, however, that the following shall survive the termination of this Agreement: (i) the provisions of Sections 3.2 (which shall terminate, and be of no further force and effect,
with respect to each Piggyback Stockholder, at such time as such Piggyback Stockholder and its Affiliates and Permitted Transferees ceases to beneficially own a Piggyback Registrable Amount), 3.7, 3.8, 4.5, 4.11, this Section 4.14 and
Section 4.15; (ii) the rights with respect to the breach of any provision hereof by the Company and (iii) any registration rights vested or obligations accrued as of the date of termination of this Agreement to the extent, in the case
of registration rights so vested, if such Stockholder ceases to meet the definition of a Stockholder under this Agreement subsequent to the vesting of such registration rights as a result of action taken by the Company. 
 Section 4.15. Rule 144. The Company covenants that it will file the reports required to be filed by it under the Securities Act and the Exchange Act
and the rules and regulations adopted by the Commission thereunder (or, if it is not required to file such reports, it will, upon the request of any holder of Registrable Securities, make publicly available other information so long as necessary to
permit sales in compliance with Rule 144 under the Securities Act), and it will take such further reasonable action, to the extent required from time to time to enable such holder to sell Registrable Securities without registration under the
Securities Act within the limitation of the exemptions provided by Rule 144 under the Securities Act, as such Rule 144 may be amended from time to time, or any similar rule or regulation hereafter adopted by the Commission. Upon the reasonable
request of any holder of Registrable Securities, the Company will deliver to such holder a written statement as to whether it has complied with such information and filing requirements. 
 [Remainder of page left blank intentionally] 
  

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 IN WITNESS WHEREOF, the parties have caused this Agreement to be executed and delivered by their
respective officers thereunto duly as of the date first above written. 
  

			
	GATEHOUSE MEDIA, INC.
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	FIF III LIBERTY HOLDINGS LLC
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  

 23

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