Document:

EX-10.8

 Exhibit 10.8 

OZON HOLDINGS LIMITED 

RULES OF THE EQUITY INCENTIVE PLAN 

As amended 

(“EIP” or the “Plan”) 

1. DEFINITIONS: 
 “Acquisition Date”
means the date on which a Recipient becomes entitled to have EIP Shares issued to him or her, which (subject to section 5.1) will be the first of the following dates to occur: 

(i) the date upon which an Exit Event occurs; 
 (ii) the date
falling 10 years after the Award Date (as stated in each Recipient’s EIP Notice of Award); 
 (iii) a date selected by the Company which shall fall
within thirty (30) days following the termination of the Recipient’s contractual or other arrangement binding him/her to exercise certain chargeable duties for the benefit of the Group in the event this termination occurred for any reason
other than Cause or engaging in competitive activities following termination as provided for under the Equity Incentive Agreement; and 
 (iv) in the event
of the Recipient’s death or Disability, a date selected by the Company which shall fall within nine (9) months following that event. 

“Award” means an award of a SAR, an Option or Restricted Share Units. 

“Award Date” means the date of grant of an Award. 

“Board” means the board of directors of the Company elected in accordance with the articles of association of the Company. 

“Cause” means: 
 (i) an act of fraud,
embezzlement or theft in connection with the performance of his/her duties for the Company or any of its Subsidiaries; 
 (ii) intentional wrongful damage
to the property or business of the Company or any of its Subsidiaries; 
 (iii) intentional wrongful disclosure of secret processes or confidential
information of the Company or any of its Subsidiaries; 
 (iv) breach of any non-competition or non-solicitation, confidentiality or invention assignment obligation of the Recipient to the Company or any of its Subsidiaries; and/or 

 (iv) intentional failure or refusal to comply with the conditions of any contractual or other arrangement
binding him/her to exercise certain chargeable duties for the benefit of the Company or its Subsidiaries unless such failure or refusal to comply is consistent with the applicable law. 

“Change of Control” means the acquisition of Control of the Company by a Person (or a group of Persons acting together), including by one or
more existing affiliated shareholders of the Company or a Person Controlled by one or more existing affiliated shareholders of the Company, to acquire shares in the Company, other than a transaction arising as part of a corporate reorganisation
which is determined in good faith by the Board not to constitute of change of control. 
 “Compensation Committee” means a committee
composed of members of the relevant RusCo Board. 
 “Company” means Ozon Holdings Limited, a limited liability company registered under
Cyprus law with its registered address at 2-4 Arch. Makarios III, 9th Floor Capital Center, Nicosia, Cyprus. 

“Control” (including the terms “Controls”, “Controlled by” and “under common Control with”) means, with respect
to any Person, the ownership, directly or indirectly, of interests representing more than fifty per cent (50%) of the voting power of a legal entity, or having the power to control the management, operations or policies of such Person (whether
pursuant to a contract, trust arrangement or otherwise) or elect a majority of members to the board of directors or equivalent decision-making body of such legal entity; provided that, all voting power held by entities under common control
(including investment funds under common control) shall be aggregated together and attributed to each other such entity under common control for the purpose of determining the voting power percentage of each such entity. 

“Disability” means termination of a Recipient’s contractual or other arrangement binding him/her to exercise certain chargeable duties
for the benefit of the Group because of a physical or mental infirmity that impairs the Recipient’s ability to perform substantially their duties for a period of one hundred and eighty (180) consecutive days which is sufficiently confirmed
by a respective authority. 
 “First Vesting Date” means the last date of the calendar quarter within which falls the first anniversary of
the Nomination Date. 
 “EIP Notice of Award” means a written notice of grant of an Award issued by the Company to a Recipient. 

“EIP Shares” means shares issued pursuant to the Plan, which will be (i) before an IPO, redeemable preference shares in the capital of
the Company unless otherwise provided by the relevant agreement and (ii) after an IPO, ordinary shares in the capital of the Company. 

  
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 “Eligible Individuals” means individuals who are essential to the development of the
Company, which may include employees, external strategic advisors and consultants of the Group. 
 “Equity Incentive Agreement” means a
written agreement between the Recipient and the Company relating to an Award. 
 “Exit Event” shall mean the occurrence of: 

(i) the admission of all or any part of the share capital of the Company (including depositary shares representing any shares of the Company) to trading on an
internationally recognized stock exchange; or 
 (ii) a Change of Control. 

“FMV” means fair market value of an EIP Share, which will be deemed to be equal to the fair market value of a Share, which shall be: 

(A) at any time when Shares (or depositary shares representing such Shares) are not publicly traded on an internationally recognized stock exchange, the
fair market value of the Group most recently determined by the Board, in its sole discretion and acting in good faith, to be the fair market value thereof, divided by a number of shares of the Company on a fully-diluted basis as at the date of
determination. The fully-diluted number of shares is calculated based on an assumption that all Awards (together with other share-based instruments issued before the amended EIP) that have been vested through the date of determination are converted
into Shares as at that date in accordance with the EIP or the terms of such instruments. This determination shall be made at least once a year at the meeting of the Board. The Board may use that value or may decide to determine the fair market value
within 10 days of any event triggering an Acquisition Date. In making this determination, the Board may have regard to (but need not be bound by): 
  

	 	(a)	 the price of a Share in any recent transaction in Shares, including: 

 

	 	(i)	 the price paid per Share by any new investor in the Company; or 

 

	 	(ii)	 the price paid per Share by any shareholder; or 

 

	 	(b)	 any valuation of a Share by an independent valuer, or 

(B) at the date of an IPO, the fair market value is determined based on public offering price defined in its prospectus or any other offering circular
document, or 
 (C) at any time when Shares (or depositary shares representing any shares of the Company) are publicly traded on an internationally
recognized stock exchange, a closing price per Share averaged for the period of 3 months prior to the date of determination (as adjusted to account for the ratio of Shares to such depositary shares, if necessary). 

“Good Reason” means: without the express written consent of the Recipient, the occurrence after a Change of Control of any of the following
circumstances: 

  
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 (i) a reduction by the Company or its Subsidiary of the agreed fees for the Recipient’s services
payable to the Recipient under a contractual or other arrangement binding the Recipient to exercise certain chargeable duties for the benefit of the Company or any of its Subsidiaries, or other material deterioration in the conditions under which
the Recipient renders his/her services as in effect on the date of the Change of Control, but excluding any reduction resulting merely from currency exchange fluctuations; 

(ii) the Company or its Subsidiary requiring the Recipient to be based full time more than fifty (50) miles away from the location where the Recipient
principally renders his/her services for the benefit of the Group immediately prior to the date of the Change of Control; 
 (iii) a material reduction in
the position, duties or responsibilities of the Recipient in relation to a contractual or other arrangement binding the Recipient to exercise certain chargeable duties for the benefit of the Company or any of its Subsidiaries as in effect at the
date of the Change of Control; or 
 (iv) the failure by the Company to pay the Recipient any portion of his/her compensation within seven (7) days
after the date such compensation is due, 
 unless such circumstance is fully corrected within thirty days after the Recipient has informed the Company in
writing that he/she intends to terminate a contractual or other arrangement binding him/her to exercise certain chargeable duties for the benefit of the Company or any of its Subsidiaries for Good Reason and specifies the circumstance or
circumstances which cause the Good Reason. 
 “Group” means the Company and all Subsidiaries together. 

“IPO” means the sale of the Company’s Ordinary Shares (or the shares of a liquidity vehicle established for such purpose) or depository
receipts representing such shares in a first public offering resulting in the listing of such shares (or depository receipts) on an internationally recognized stock exchange. 

“Measurement Price” means a price determined by the Board at the Award Date for an SAR and set out in the EIP Notice of Award, being
equivalent to the FMV of one Share at the Award Date as determined by the Board (unless otherwise determined by the Board in respect of a specific Award). 

“Nomination Date” shall mean the date when the CEO defines a list of Eligible Individuals for further approval of the Compensation Committee.

 “Option” means an option to purchase EIP Shares granted under the EIP. 

“Person” means any natural person, firm, partnership, association, corporation, company, trust, business trust, Governmental Authority or
other entity. 
 “Purchase Price” means a price determined by the Board at the Award Date for an Option and set out in the EIP Notice of
Award, being equivalent to the FMV of one Share at the Award Date as determined by the Board (unless otherwise determined by the Board in respect of a specific Award). 

  
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 “Recipient” means an Eligible Individual who holds an Award. 

“Reserved Pool” means 400,000 redeemable preference shares of the Company (including any redeemable preference shares of the Company issued
pursuant to Awards prior to 15 March 2018); provided that all EIP Shares subject to Awards that lapse or are terminated, surrendered or cancelled without EIP Shares having been issued shall be returned to the Reserved Pool. 

“Restricted Share Units” means share units granted under the EIP. 

“RusCo” means (a) Ozon Holding LLC, a company duly incorporated and validly existing under the laws of the Russian Federation, having
its registered office at: 14, Chapaevsky Pereulok, Moscow 125252; or (b) Internet Travel LLC, a company duly incorporated and validly existing under the laws of the Russian Federation, having its registered office at: 14, Chapaevsky Pereulok,
Moscow 125252. 
 “RusCo Board” means the board of directors of a RusCo elected in accordance with such company’s organizational
documents. 
 “SARs” means share appreciation rights granted under the EIP. 

“Share” means an ordinary share of US$ 0.025 nominal value in the capital of the Company. 

“Subsidiary” means any Person Controlled by the Company or where the Company is a shareholder and Controls alone pursuant to an agreement
with other shareholders, a majority of voting rights in such Person. 
 2. GENERAL 

 

	2.1	 Objectives 

The EIP is intended to reward and retain Eligible Individuals and to align the interests of Recipients with those of the shareholders by encouraging
growth-related incentives and the development of long term commitments. 
  

	2.2	 Reserved Pool 

2.2.1 Awards may be granted from the Reserved Pool by the Board, taking into account the recommendation of the relevant RusCo Board. The number of Awards to be
granted in any year is to be determined by the Board. 
 2.2.2 Subject to approval by the Board and any relevant shareholder approval of the allotment of
equity securities in the Company (to the extent required), the Board is entitled (but in no case bound) to make equity incentive awards outside of (and in addition to) the Reserved Pool to Eligible Recipients on a case by case basis on the
recommendation of the relevant RusCo Board or their respective Compensation Committees, and to make such awards subject to the provisions of this EIP. 

  
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 2.2.3 All matters relating to the EIP shall be approved by the Board unless otherwise provided by the
Company’s articles of association or any valid and effective shareholders’ agreement to which the Company is bound. 
  

	2.3	 Adjustment of Awards 

In the event of any share split, reverse share split, share dividend, recapitalization, combination of shares, reclassification of shares, spin-off or other similar change in capitalization or event, or any dividend or distribution to shareholders of the Company other than an ordinary cash dividend, (i) the number and class of securities available
under this EIP and (ii) the number and class of securities and Purchase Price or Measurement Price per EIP Share underlying each affected outstanding Award (if applicable) shall be equitably adjusted by the Company (or substituted awards may be
made, if applicable) in the manner determined by the Board. 
  

	2.4	 Administration 

The Compensation Committee is charged with determining issues related to the EIP for presentation to the Board. 

 

	2.5	 Plan documents 

This document and the following annexes, all of which are governed by the laws of England and Wales, are each an integral part of the Plan: 

Exhibit 1 — Form of Notice of Award: SARs 
 Exhibit 2
— Form of Equity Incentive Agreement: SARs 
 Exhibit 3 — Form of Notice of Award: RSUs 

Exhibit 4 — Form of Equity Incentive Agreement: RSUs 

3. AWARDS 
  

	3.1	 Eligibility and grant of Awards 

The CEO of the Group and/or the CEO of a RusCo together with the Compensation Committee shall determine a list of Eligible Individuals who are eligible to
receive Awards, and the type of Award and number of EIP Shares subject to each such Award it is proposed to be allocated to each of them. 
  

	3.2	 Forms of Awards 

3.2.1 SARs. Each Award of SARs shall entitle the Recipient, subject to vesting and other terms as set forth in the Equity Incentive Agreement, to
receive upon an Acquisition Date a number of EIP Shares determined by reference to the appreciation in the FMV of a Share over the Measurement Price, from and after the Award Date. 

3.2.2 Options. Each Award of an Option shall entitle the Recipient, subject to vesting and other terms as set forth in the Equity Incentive Agreement, to
purchase on or after the Acquisition Date the number of EIP Shares subject to the Option upon payment of the aggregate Purchase Price of the Option. Options may be exercised by delivery to the Company of a written notice of exercise (which may be in
electronic form) by the Recipient, in the form of notice (including electronic notice) approved by the Compensation Committee, together with payment in full as specified below for the number of EIP Shares for which the Option is exercised.
Payment of the Purchase Price shall be made 

  
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 (A) in cash or wire transfer to the order of the Company, or 

(B) by having the Company withhold, from the EIP Shares otherwise issuable upon exercise of the Option, a number of EIP Shares having a FMV
equal to the aggregate Purchase Price payable, or 
 (C) if the EIP Shares are then traded on an internationally recognized stock exchange,
by (x) delivery of an irrevocable and unconditional undertaking by a creditworthy broker to deliver promptly to the Company sufficient funds to pay the exercise price due and any required tax withholding, or (y) delivery by the Recipient
to the Company of a copy of irrevocable and unconditional instructions to a creditworthy broker to deliver promptly to the Company cash or a check sufficient to pay the exercise price due and any required tax withholding.  

3.2.3 Restricted Share Units. Each Award of Restricted Share Units shall entitle the Recipient, subject to vesting and other terms as set forth in the
Equity Incentive Agreement, to receive upon the Acquisition Date the number of EIP Shares subject to the Award of Restricted Share Units. 
  

	3.3	 Documentation for grant 

All rights in respect of an Award shall be set out in an EIP Notice of Award and in an Equity Incentive Agreement. 

 

	3.4	 Rights attaching to Awards 

Awards will not entitle the relevant Recipient to vote, to receive dividends, to receive any information on the operational activity of the Group, which are
provided to the Company’s shareholders, and are not transferable. 
  

	3.5	 Pre-existing awards 

(i) Options granted before 11 March 2016 will continue on their effective terms, other than as the same may be amended (subject to the consent of the
holders) with respect to the terms governing the acquisition of EIP Shares as set out in this Plan as amended. 
 (ii) SARs granted before 13 March
2018 will continue on their original terms as to the number of SARs, Award Date, vesting dates and Measurement Price, other than as the same may be amended (subject to the consent of the holders) with respect to the terms governing the acquisition
of EIP Shares as set out in this Plan as amended. 
 4. VESTING 
  

	4.1	 Vesting schedule 

Unless otherwise decided by the Board upon Award Date, Awards will vest with time over four years following the Award Date as follows: 

 

	(i)	 one fourth of the Options, SARs or Restricted Share Units subject to the Award to vest on the First Vesting
Date; and 

  

	(ii)	 a further one sixteenth of the Options, SARs or Restricted Share Units subject to the Award to vest on the last
day of each consecutive calendar quarter following the First Vesting Date. 

  
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	4.2	 Performance targets 

In some cases, vesting of an Award may also be subject to individual or Group corporate performance targets and if so, these will be set forth in the EIP
Notice of Award or in the Equity Incentive Agreement. 
  

	4.3	 Advisors and consultants 

Vesting terms with respect to Awards granted to external strategic advisors and consultants may be determined on a case by case basis by the Board and will be
set out in the EIP Notice of Award or in the Equity Incentive Agreement. 
  

	4.4	 “Bullet” vesting 

With respect to Recipients who are in a contractual or other arrangement binding them to exercise certain chargeable duties for the benefit of an entity or
entities in the Group, all Awards shall vest immediately if such arrangement is terminated within 12 months following a Change of Control either by: 
 (i)
the Recipient for a Good Reason; or 
 (ii) by the Company or its Subsidiary for any reason other than Cause. 

 

	4.5	 Exit Event 

Other than as provided in clause 4.4 above, following an Exit Event (including, for the avoidance of doubt, a Change of Control), all Awards shall continue to
vest in accordance with their applicable vesting schedules, subject to the continuation of the Recipient’s contractual or other arrangement binding him/her to exercise certain chargeable duties for the benefit of the Group. 

 

	4.6	 Suspension of Vesting 

Unless otherwise decided by the Board, a vesting period will be suspended if the Recipient ceases carrying out chargeable duties for the benefit of the Company
under a contractual or other binding arrangement due to maternity/paternity leave. The vesting suspends in the calendar quarter during which a maternity/paternity leave starts (supported by a maternity/paternity sick list in case the Recipient is a
Russian tax resident) and resumes in calendar quarter during which the Recipient resumes carrying out chargeable duties for the benefit of the Company under a contractual or other binding arrangement. The vesting suspension period may be
reduced at the sole discretion of the Board. 
 5. ACQUISITION OF EIP SHARES 

 

	5.1	 Continuing relationship 

The Recipient must maintain a contractual or other arrangement binding him/her to exercise certain chargeable duties for the benefit of the Group at all times
between the Award Date and (as the circumstances may be): 
 (i) the Acquisition Date; or 

(ii) the date of termination of the Recipient’s contractual or other arrangement binding him/her to exercise certain chargeable duties for the benefit of
the Group for any reason other than Cause or his/her engaging in competitive activities following termination as provided for under the Equity Incentive Agreement, or 

  
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 (iii) the date of death or Disability. 

 

	5.2	 Issue of EIP Shares 

Subject to sections 5.1 and 8, the Board acting in good faith will issue EIP Shares to the Recipient (or, in a case falling within section 5.4, his lawful
representatives) as soon as possible after an Acquisition Date. 
  

	5.3	 Determination of a number of EIP Shares 

5.3.1 EIP Shares to be issued to Recipients in connection with SARs shall be determined from the following formula: 

N=S*(X-Y)/X if X>Y and, 

N=0 if X=<Y where 
 N equals
the number of EIP Shares to be issued to the Recipient; 
 X equals the FMV at the Acquisition Date; 

Y equals the Measurement Price; and 

S equals the number of SARs vested on the Acquisition Date. 

The Measurement Price can be defined in rubles and recalculated in the currency which is used for the determination of the FMV as of the Acquisition Date
using the daily exchange rates of the Central Bank of Russia between the ruble and the relevant currency averaged over the period of three (3) months prior to the Acquisition Date. 

5.3.2 EIP Shares to be issued to Recipients in connection with Options shall be the number of EIP Shares subject to the portion of the Option being exercised.

 The Purchase Price can be defined in rubles and recalculated in the currency which is used for the determination of the FMV as of the Acquisition Date
(if necessary) using the daily exchange rates of the Central Bank of Russia between the ruble and the relevant currency averaged over the period of three (3) months prior to the Acquisition Date. 

5.3.3. EIP Shares to be issued to Recipients in connection with Restricted Share Units shall be the number of EIP Shares subject to the portion of the vested
Restricted Share Units being settled. 
  

	5.4	 Death or Disability 

In the case of a Recipient’s death the EIP Shares shall be issued to the Recipient’s personal representatives (including his heirs by will and
operation of law) or in the case of Disability to his authorised and lawful representatives. Any Awards that have not vested by the date of death or Disability will lapse and become void on that date. 

  
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 6. RESTRICTIONS ON EIP SHARES 

 

	6.1	 Before IPO 

EIP Shares shall not carry the right to vote and shall be subject to the rights and restrictions as to transfer and sale attaching to those shares as set out
in the articles of association of the Company as amended from time to time, a copy of which may be obtained by a Recipient on request from the Company secretary. 
  

	6.2	 After IPO 

Upon any initial public offering of the Company’s shares the sale of EIP Shares held by any Recipient may be subject to certain sale restrictions as
determined by the Board prior to the initial public offering. 
 7. CONVERSION 

In certain cases provided in the articles of association of the Company EIP Shares will be converted into ordinary shares in the ratio 1:1, subject to and in
accordance with the provisions of the articles of association of the Company. 
 8. REPURCHASE OF AWARDS 

Within 20 days following the event triggering an Acquisition Date other than an Exit Event, the Board may decide instead to settle a vested portion of Awards
by the Company (or a Subsidiary) making to the Recipient (or, in the event of his death or Disability, his or her lawful representatives) a cash payment equal to (a) with respect to SARs, the difference between the FMV and the Measurement Price
multiplied by the number of vested SARs, (b) with respect to Options, the difference between the FMV and the Purchase Price, multiplied by the number of vested Options and (c) with respect to Restricted Share Units, the FMV, multiplied by
the number of vested Restricted Share Units. If the FMV is not in rubles, the Measurement Price or Purchase Price will be converted into the relevant currency as set out in section 5.3. 

9. CANCELLATION 
  

	9.1	 Termination for Cause 

If: (1) a contractual or other arrangement binding a Recipient to exercise certain chargeable duties for the benefit of the Group is terminated for Cause,
(2) a Recipient harms the reputation and public image of the Company or any entity in the Group by “bad-mouthing” or (3) a Recipient breaches any
non-competition or non-solicitation, confidentiality or invention assignment obligation of the Recipient to the Company or any of its Subsidiaries; then all Awards held
by such Recipient (whether vested or unvested) shall lapse and become void, and will go back into the Reserved Pool. 
  

	9.2	 Termination other than for Cause 

Awards that have not vested prior to the relevant Acquisition Date other than an Exit Event will lapse and become void upon that date and go back into the
Reserved Pool. 
  

	9.3	 Redemption of EIP Shares  

The Company shall have the right to redeem any or all EIP Shares issued pursuant to this Agreement in accordance with the terms of the articles of association
of the Company. 

  
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 10. Miscellaneous 

10.1 The Recipient hereby consents to the collection, use and transfer of personal data as described in this section. The Recipient understands that the Group
hold certain personal information about him/her, including but not limited to his/her name, home address and telephone number, date of birth, identification document number, any shares or directorships held in the Company (“Data”).
The recipient further understands that the Company will transfer Data as necessary for the purposes of the EIP and may further transfer the Data to any third parties in the course of performance of its obligations under the EIP. The Recipient
understands that recipients of the Data may be located in Russia, Cyprus or elsewhere. The Recipient authorises further recipients to receive, possess, use, retain and transfer the Data in electronic or other form, for the purposes of performance of
the EIP. 
 10.2 In any applicable case the Company and/or any Subsidiaries shall be entitled to withhold or collect any relevant taxes and/or contributions
payable in connection with the issuance, conversion or transfer of EIP Shares or repurchase of Awards under this Plan. Notwithstanding the above, the Recipient hereby acknowledges and agrees that the responsibility for paying any amounts of tax
and/or social security contributions if any attributable to or payable in connection with any event pursuant to this Plan shall remain with and be a liability of the Recipient. The Recipient hereby further agrees to provide the Company or a
Subsidiary on request with such documentation, assurances or information as the Company or a Subsidiary may require to satisfy itself either that it may withhold any tax and/or social security contributions where the Company or a Subsidiary has an
obligation to do so, or that the Recipient himself will pay any such amounts of tax and/or social security contributions directly to the relevant authority in any jurisdiction in accordance to the relevant legislation. 

  
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 Exhibit 1 

Form of EIP Notice of Award: SARs 
  

	TO:	 [INSERT NAME OF GRANTEE] 

DATE: [INSERT DATE] 
 Pursuant to the Ozon Holdings Limited
Equity Incentive Plan (“EIP” or the “Plan”), the Board of Ozon Holdings Limited (the “Company”) is pleased to inform you that, subject to compliance with the terms set out in the EIP (and
capitalised words and phrases in this notice will have the same meanings as set out in the EIP) and subject to the Equity Incentive Agreement to be entered into between you and the Company, an award has been made to you as follows: 

 

	1.	 the Award Date is
[                ]; 

  

	2.	 the award is comprised of [number] SARs; 

the Measurement Price is [number] RUB per SAR; 
  

	3.	 the award will be satisfied by the issue of EIP Shares on the Acquisition Date as specified in the Plan;

  

	4.	 all SARs are subject to the terms and conditions set out in the Plan; and 

 

	5.	 the Vesting Schedule is: 

 

			
	Vesting Date	  	Fraction of SARs vested following each vesting period
	On [INSERT DATE 1 YEAR FOLLOWING AWARD DATE (the “1st Vesting Date”)	  	1/4th
	The date at the end of each consecutive calendar quarter following the 1st Vesting Date	  	1/16th

  
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 Please confirm your acceptance by completing, signing and returning a copy of this EIP Notice of Award. 

 

			
	On behalf of Ozon Holdings Limited:
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  

			
	Name of Recipient as it is to appear on the certificate representing EIP Shares:	  	                                     
                           
		
	Address of Recipient as it is to appear on the	  	                                     
                           
	register of members of the Company and to	  	                                     
                           
	which the certificate representing the EIP	  	                                     
                           
	Shares issued to the Recipient is to be delivered:	  	                                     
                           
		
	Agreed and Accepted:	  	
		  	
	Dated                                     
                	  	                                     
                           
		  	Signature of Recipient

  
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 Exhibit 2 

Form of Equity Incentive Agreement: SARs 

EQUITY INCENTIVE AGREEMENT 
 FOR
AWARD OF SARS 
 by and between 

[INSERT NAME OF RECIPIENT] 
 and

 OZON HOLDINGS LIMITED 

DATED AS OF [INSERT] 

  
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 This EQUITY INCENTIVE AGREEMENT (the “Agreement”) is executed and made effective the date
set forth above (the “Effective Date”) BY AND BETWEEN: 
  

	(1)	 OZON HOLDINGS LIMITED, a limited liability company organized and registered under the laws of the Cyprus with
its registered address at 2-4 Arch. Makarios III Avenue, 9th Floor Capital Center, 1505 Nicosia, Cyprus duly represented by Arta Antoniou, Director
(hereinafter the “Company”); and 

  

	(2)	 the person named in the Notice attached hereto (the “Recipient”). 

The Company and the Recipient shall also be referred to herein collectively as the “Parties”. 

Definitions 
 For the purposes of this Agreement:

 “Acquisition Date” means the date specified in clause 1.2 

“Board” means the board of directors of the Company elected in accordance with the articles of association of the Company 

“Cause” means: (i) an act of fraud, embezzlement or theft in connection with the performance of his/her duties for the
Company or any of its Subsidiaries; (ii) intentional wrongful damage to the property or business of the Company or any of its Subsidiaries; (iii) intentional wrongful disclosure of secret processes or confidential information of the
Company or any of its Subsidiaries; (iv) breach of any non-competition or non-solicitation, confidentiality or invention assignment obligation of the Recipient to
the Company or any of its Subsidiaries; (v) intentional failure or refusal to comply with the conditions of any contractual or other arrangement binding the Recipient to exercise certain chargeable duties for the benefit of the Group unless
such failure or refusal to comply is required by the applicable law. 
 “Change of Control” means the acquisition of Control
of the Company by a Person (or a group of Persons acting together), including by one or more existing affiliated shareholders of the Company, or a Person Controlled by one or more existing affiliated shareholders of the Company, to acquire shares in
the Company, other than a transaction arising as part of a corporate reorganisation which is determined in good faith by the Board not to constitute of change of control. 

“Control” (including the terms “Controls”, “Controlled by” and “under common Control with”)
means, with respect to any Person, the ownership, directly or indirectly, of interests representing more than fifty per cent. (50%) of the voting power of a legal entity, or having the power to control the management, operations or policies of such
Person (whether pursuant to a contract, trust arrangement or otherwise) or elect a majority of members to the board of directors or equivalent decision-making body of such legal entity; provided that, all voting power held by entities under common
control (including investment funds under common control) shall be aggregated together and attributed to each other such entity under common control for the purpose of determining the voting power percentage of each such entity. 

  
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 “Disability” means termination of a Recipient’s contractual or other
arrangement binding him/her to exercise certain chargeable duties for the benefit of the Group because of a physical or mental infirmity that impairs the Recipient’s ability to perform substantially their duties for a period of one hundred and
eighty (180) consecutive days which is sufficiently confirmed by a respective authority. 
 “EIP Shares” means the
shares to be issued to the Recipient pursuant to the terms of this Agreement which will be (i) before an initial public offering of shares (or depository receipts) in the Company, redeemable preference shares in the capital of the Company and
(ii) after an initial public offering of shares (or depository receipts) in the Company, ordinary shares in the capital of the Company. 

“Exit Event” shall mean the occurrence of: 

(i) the admission of all or any part of the share capital of the Company (including depositary shares representing any shares of the Company)
to trading on an internationally recognized stock exchange; or 
 (ii) a Change of Control. 

“FMV” means fair market value of an EIP Share, which will be deemed to be equal to the fair market value of a Share, which
shall be: 
 (A) at any time when Shares (or depositary shares representing such Shares) are not publicly traded on an internationally
recognized stock exchange, the fair market value of the Group most recently determined by the Board, in its sole discretion and acting in good faith, to be the fair market value thereof, divided by a number of shares of the Company on a
fully-diluted basis as at the date of determination. The fully-diluted number of shares is calculated based on an assumption that all SARs (together with other share-based instruments issued by the Company) that have been vested through the date of
determination are converted into Shares as at that date in accordance with the EIP or the terms of such instruments. This determination shall be made at least once a year at the meeting of the Board. The Board may use that value or may decide to
determine the fair market value within 10 days of any event triggering an Acquisition Date. In making this determination, the Board may have regard to (but need not be bound by): 

 

	 	(a)	 the price of a Share in any recent transaction in Shares, including: 

 

	 	(i)	 the price paid per Share by any new investor in the Company; or 

 

	 	(ii)	 the price paid per Share by any shareholder; or 

 

	 	(b)	 any valuation of a Share by an independent valuer, or 

(B) at the date of an IPO, the fair market value is determined based on public offering price defined in its prospectus or any other offering
circular document, or 
 (C) at any time when Shares (or depositary shares representing any shares of the Company) are publicly traded on an
internationally recognized stock exchange, a closing price per Share averaged for the period of 3 months prior to the date of determination (as adjusted to account for the ratio of Shares to such depositary shares, if necessary). 

  
 16 

 “Good Reason” means: without the express written consent of the Recipient,
the occurrence after a Change of Control of any of the following circumstances: 
 (i) a reduction by the Company or its Subsidiary of the
agreed fees for the Recipient’s services payable to the Recipient under a contractual or other arrangement binding the Recipient to exercise certain chargeable duties for the benefit of the Company or any of its Subsidiaries, or other material
deterioration in the conditions under which the Recipient renders his/her services as in effect on the date of the Change of Control, but excluding any reduction resulting merely from currency exchange fluctuations; 

(ii) the Company or its Subsidiary requiring the Recipient to be based full time more than fifty (50) miles away from the location where
the Recipient principally renders his/her services for the benefit of the Group immediately prior to the date of the Change of Control; 

(iii) a material reduction in the position, duties or responsibilities of the Recipient in relation to a contractual or other arrangement
binding the Recipient to exercise certain chargeable duties for the benefit of the Company or any of its Subsidiaries as in effect at the date of the Change of Control; or 

(iv) the failure by the Company to pay the Recipient any portion of his/her compensation within seven (7) days after the date such
compensation is due, 
 unless such circumstance is fully corrected within thirty days after the Recipient has informed the Company in
writing that he/she intends to terminate a contractual or other arrangement binding him/her to exercise certain chargeable duties for the benefit of the Company or any of its Subsidiaries for Good Reason and specifies the circumstance or
circumstances which cause the Good Reason. 
 “Group” means the Company and all Subsidiaries together. 

“Measurement Price” has the meaning set out in clause 1.1. 

“Person” means any natural person, firm, partnership, association, corporation, company, trust, business trust, Governmental
Authority or other entity; 
 “Share” means an ordinary share of US$ 0.025 nominal value in the capital of the Company. 

“Subsidiary” means any Person Controlled by the Company or where the Company is a shareholder and Controls alone pursuant to
an agreement with other shareholders, a majority of voting rights in such Person. 
  

	1.	 Equity Incentive Award. 

 

	1.1	 Grant. As of the Effective Date of this Agreement, the Company hereby awards to the Recipient pursuant to the
Company’s Equity Incentive Plan approved by the Shareholders of the Company on [INSERT DATE] as amended (the “EIP”) as set out in 

  
 17 

	 	
the attached notice of share appreciation rights (“SARs”) awards addressed to the Recipient (the “Notice”). For the purposes of this Agreement the award date for
the SARs shall be the ‘Award Date’ and the measurement price shall be the ‘Measurement Price’, each as specified in the Notice. 

  

	1.2	 Acquisition Date. Subject to the conditions set forth in Section 2 below having been fulfilled and the
necessary corporate approvals having been obtained, the Company shall issue to the Recipient EIP Shares pursuant to all vested SARs and subject to the terms of clause 1.3 on the earliest of: 

 

	 	(a)	 the date upon which an Exit Event occurs; 

 

	 	(b)	 the tenth anniversary of the Award Date; 

 

	 	(c)	 a date selected by the Company which shall fall within thirty (30) days following the termination of the
Recipient’s contractual or other arrangement binding him/her to exercise certain chargeable duties for the benefit of the Group in the event this termination occurred for any reason other than Cause or engaging in competitive activities
following termination as provided for in this Agreement; and 

  

	 	(d)	 on a date selected by the Company which shall fall within nine (9) months following the date of death or
Disability of the Recipient. 

 The applicable acquisition date shall be hereinafter referred to as the “Acquisition
Date”. 
  

	1.3	 Number of EIP Shares issued to the Recipient upon the Acquisition Date. Upon the Acquisition Date, the Company
shall issue to the Recipient such number of EIP Shares subject to this Agreement which will be calculated according to the following formula: 

N=S*(X-Y)/X if X>Y and, 

N=0 if X=<Y where 
 N equals
the number of EIP Shares to be issued to the Recipient; 
 X equals the Fair Market Value at the Acquisition Date; 

Y equals the Measurement Price; and 

S equals the number of SARs vested on the Acquisition Date. 

The Measurement Price can be defined in rubles and recalculated in the currency which is used for the determination of FMV as of the
Acquisition Date using the daily exchange rates of the Central Bank of Russia between the ruble and the relevant currency averaged over the period of three (3) months prior to the Acquisition Date. 

  
 18 

	2.	 Conditions to Share Rights. 

 

	2.1	 Vesting of SARs. Except as otherwise provided in this Agreement, the Recipient’s SARs shall vest in
accordance with the Vesting Schedule set forth in the Notice. 

  

	2.1.1	 Unless otherwise decided by the Board, a vesting period will be suspended if the Recipient ceases carrying out
chargeable duties for the benefit of the Company under a contractual or other binding arrangement due to maternity/paternity leave. The vesting suspends in the calendar quarter during which a maternity/paternity leave starts (supported by a
maternity/paternity sick list in case the Recipient is a Russian tax resident) and resumes in calendar quarter during which the Recipient resumes carrying out chargeable duties for the benefit of the Company under a contractual or other binding
arrangement. The vesting suspension period may be reduced at the sole discretion of the Board. 

  

	2.2	 Accelerated Vesting. With respect to Recipients who are in a contractual or other arrangement binding them to
exercise certain chargeable duties for the benefit of an entity or entities in the Group, all SARs shall vest immediately if such arrangement is terminated within 12 months following a Change of Control either by (i) the Recipient for a Good
Reason; or (ii) by the Company or its Subsidiary for any reason other than Cause. Other than as provided in this clause, following an Exit Event (including, for the avoidance of doubt, a Change of Control), all SARs shall continue to vest in
accordance with their applicable vesting schedules, subject to the continuation of the Recipient’s contractual or other arrangement binding him/her to exercise certain chargeable duties for the benefit of the Group. 

 

	2.3	 Death or Disability of Recipient. In the case of a Recipient’s death the EIP Shares shall be issued to the
Recipient’s personal representatives (including his heirs by will and operation of law) or in the case of Disability to his authorised and lawful representatives. Any SARs that have not vested by the date of death or Disability will lapse and
become void on that date. 

  

	2.4	 Continuous Relationship Required. Unless clause 2.2 applies, if the contractual or other arrangement binding
the Recipient to exercise certain chargeable duties for the benefit the Group is terminated (and no such arrangement with the same or a different entity of the Group remains or is entered), any SARs that have not vested at the date of the
termination will lapse. 

  

	2.5	 Cancellation of Rights and this Agreement. If: 

(1) a contractual or other arrangement binding a Recipient to exercise certain chargeable duties for the benefit of the Group is terminated for
Cause, (2) a Recipient harms the reputation and public image of the Company or any entity in the Group by “bad-mouthing” or (3) a Recipient breaches any
non-competition or non-solicitation, confidentiality or invention assignment obligation of the Recipient to the Company or any of its Subsidiaries; then all SARs held by
such Recipient (whether vested or unvested) shall lapse and become void. 
  

	2.6	 Rights attaching to SARs. SARs will not entitle the relevant Recipient to vote or to receive dividends, to
receive any financial reports from the Company and to access any information on the operational activity of the Group, including access to any documents relating to such activity, which is not publicly available. 

  
 19 

	2.7	 Rights attaching to EIP Shares. Any EIP Shares issued to the Recipient (or in the event of his death, his
personal representatives, including his heirs by will and operation of law or in the event of Disability to his authorised and lawful representatives) will be subject to the provisions of the articles of association of the Company in force from time
to time. A copy of the articles of association of the Company may be obtained on request from the Company secretary. The Recipient may be required as a condition to the issuance of EIP Shares to him/her to execute and agree to be bound by the terms
of any shareholders’ agreement relating to the Company in force as at the time any EIP Shares are issued. 

  

	3.	 Nontransferability of Rights. The SARs under this Agreement are personal to the Recipient and no rights granted
hereunder may be transferred, assigned, pledged or hypothecated in any way (whether by operation of law or otherwise), other than to the Recipient’s representatives in accordance with clause 2.3, nor shall any such rights be subject to
execution, attachment or similar process. Upon any attempt to transfer, assign, pledge, hypothecate or otherwise dispose of such rights contrary to the provisions hereof, or upon the levy of any attachment or similar process upon such rights, this
Agreement and all rights of the Recipient herein shall, at the election of the Company, become null and void. 

  

	4.	 No Special Rights. Nothing contained in the EIP or this Agreement shall be construed or deemed by any Person
under any circumstances to bind the Company to offer or continue any contractual or other arrangement binding the Recipient to exercise certain chargeable duties for the benefit of the Group for the period within which this Agreement is valid.

  

	5.	 Adjustment Provisions. In the event of any share split, reverse share split, share dividend, recapitalization,
combination of shares, reclassification of shares, spin-off or other similar change in capitalization or event, or any dividend or distribution to shareholders of the Company other than an ordinary cash
dividend, the number and class of securities and Measurement Price of this SAR shall be equitably adjusted by the Company (or substituted awards may be made, if applicable) in the manner determined by the Board. 

 

	6.	 Withholding Taxes. The Company’s continuing obligation to issue or to procure the issuance of any EIP
Shares herein shall be subject to the Recipient’s satisfaction of all applicable income tax obligations. 

  

	7.	 Repurchase rights of Company. 

 

	7.1	 Buy-out of SARs. Within 20 days following the event triggering an
Acquisition Date other than an Exit Event, the Board may decide instead to settle a vested portion of SARs by the Company (or a Subsidiary) making to the Recipient (or, in the event of his death or Disability, his or her lawful representatives) a
cash payment equal to the difference between the FMV and the Measurement Price multiplied by the number of vested SARs. If the Fair Market Value is not in rubles, the Measurement Price will be converted into the relevant currency as set out in
clause 1.3. 

  

	7.2	 Redemption of EIP Shares. The Company shall have the right to redeem any or all EIP Shares issued pursuant to
this Agreement at nominal value in accordance with the terms of the articles of association of the Company. 

  
 20 

	7.3	 Conversion of EIP Shares. In certain circumstances EIP Shares will be converted into ordinary shares in the
ratio 1:1, subject to and in accordance with the provisions of the articles of association of the Company. 

  

	8.	 Miscellaneous. 

  

	8.1	 Except as provided herein, this Agreement may not be amended or otherwise modified unless evidenced in writing
and signed by the Company and the Recipient. The Recipient shall have a unilateral right at all times to terminate this Agreement upon written notice to the Company. 

 

	8.2	 All notices under this Agreement shall be mailed or delivered by hand to the Parties at their respective
addresses set forth beneath their names below or at such other address as may be designated in writing by either of the Parties to one another. 

  

	8.3	 This Agreement shall be governed by and construed in accordance with the laws of England and Wales.

  

	8.4	 The Parties acknowledge that certain rights and obligations of the Parties pursuant to this Agreement may be
affected by the EIP and that the EIP may be modified from time to time by the Company without the Recipient’s approval. The Company undertakes to notify the Recipient from time to time of any changes that are made to the EIP and in the event of
any conflict between the terms of this Agreement and the EIP, the terms of this Agreement shall prevail, unless the Recipient consents to such changes in accordance with clause 8.1. 

 

	8.5	 The Recipient hereby consents to the collection, use and transfer of personal data as described in this
section. The Recipient understands that the Group hold certain personal information about him/her, including but not limited to his/her name, home address and telephone number, date of birth, identification document number, any shares or
directorships held in the Company (“Data”). The recipient further understands that the Company will transfer Data as necessary for the purposes of the EIP and may further transfer the Data to any third parties in the course of
performance of its obligations under the EIP. The Recipient understands that recipients of the Data may be located in Russia, Cyprus or elsewhere. The Recipient authorises further recipients to receive, possess, use, retain and transfer the Data in
electronic or other form, for the purposes of performance of the EIP. 

  

	8.6	 In any applicable case the Company and/or any Subsidiaries shall be entitled to withhold or collect any
relevant taxes and/or contributions payable in connection with the issuance, conversion or transfer of EIP Shares or repurchase of SARs under this Plan. Notwithstanding the above, the Recipient hereby acknowledges and agrees that the responsibility
for paying any amounts of tax and/or social security contributions if any attributable to or payable in connection with any event pursuant to this Plan shall remain with and be a liability of the Recipient. The Recipient hereby further agrees to
provide the Company or a Subsidiary on request with such documentation, assurances or information as the Company or a Subsidiary may require to satisfy itself either that it 

  
 21 

	 	
may withhold any tax and/or social security contributions where the Company or a Subsidiary has an obligation to do so, or that the Recipient himself will pay any such amounts of tax and/or
social security contributions directly to the relevant authority in any jurisdiction in accordance to the relevant legislation. 

 Executed as
a deed for and on behalf of OZON HOLDINGS LIMITED 
  

			
	                                    
                                    
	By:	 	
	Director	 	

  

			
	                                    
                                    
	By:	 	
	Director	 	

 Executed as a deed by [ NAME OF RECIPIENT] 

 

			
	Recipient	 	
	Signature	 	:..................
		 	......

  

			
	in the presence of:	 	
	Witness	 	
	Signature	 	:
	Name	 	:
	Occupation	 	:
	Address	 	:

  
 22 

 Exhibit 3 

Form of EIP Notice of Award: RSUs 

TO:     [INSERT NAME OF GRANTEE] 
 DATE:
[INSERT DATE] 
 Pursuant to the Ozon Holdings Limited Equity Incentive Plan (“EIP” or the “Plan”), the Board of Ozon
Holdings Limited (the “Company”) is pleased to inform you that, subject to compliance with the terms set out in the EIP (and capitalised words and phrases in this notice will have the same meanings as set out in the EIP) and subject
to the Equity Incentive Agreement to be entered into between you and the Company, an award has been made to you as follows: 
  

	1.	 the Award Date is [            ];

  

	2.	 the award is comprised of [number] Restricted Share Units; 

 

	3.	 the award will be satisfied by the issue of EIP Shares on the Acquisition Date as specified in the Plan;

  

	4.	 all Restricted Share Units are subject to the terms and conditions set out in the Plan; and.

  

	5.	 the Vesting Schedule is: 

 

			
	Vesting Date	  	Fraction of Restricted Share Units vested following each vesting period
		
	 On [INSERT DATE 1 YEAR FOLLOWING AWARD DATE (the “1st Vesting Date”)
	  	1/4th
	 The date at the end of each consecutive calendar quarter following the 1st Vesting Date
	  	1/16th

  
 23 

 Please confirm your acceptance by completing, signing and returning a copy of this EIP Notice of Award. 

 

	
	On behalf of Ozon Holdings Limited:
	
	By:                                     
               
	Name:                                     
            
	Title:                                    
                 

  

			
	Name of Recipient as it is to appear on the certificate representing EIP Shares:	  	                                     
                       
		
	Address of Recipient as it is to appear on the register of members of the Company and to which the certificate representing the EIP Shares issued to the Recipient is to be delivered:	  	
                          
                                  

                          
                                  

                          
                                  

                          
                                  

		
	Agreed and Accepted:	  	
		
	Dated                                     
                    	  	                                     
                       
		  	Signature of Recipient

  
 24 

 Exhibit 4 

Form of Equity Incentive Agreement: RSUs 

EQUITY INCENTIVE AGREEMENT 
 FOR
AWARD OF RESTRICTED SHARE UNITS 
 by and between 

[INSERT NAME OF RECIPIENT] 
 and

 OZON HOLDINGS LIMITED 

DATED AS OF [INSERT] 

  
 25 

 This EQUITY INCENTIVE AGREEMENT (the “Agreement”) is executed and made effective as of the
date set forth above (the “Effective Date”) BY AND BETWEEN: 
  

	(1)	 OZON HOLDINGS LIMITED, a limited liability company organized and registered under the laws of the Cyprus with
its registered address at 2-4 Arch. Makarios III Avenue, 9th Floor Capital Center, 1505 Nicosia, Cyprus duly represented by Arta Antoniou, Director
(hereinafter the “Company”); and 

  

	(2)	 the person named in the Notice attached hereto (the “Recipient”). 

The Company and the Recipient shall also be referred to herein collectively as the “Parties”. 

Definitions 
 For the purposes of this Agreement:

 “Acquisition Date” means the date specified in clause 1.2 

“Board” means the board of directors of the Company elected in accordance with the articles of association of the Company 

“Cause” means: (i) an act of fraud, embezzlement or theft in connection with the performance of his/her duties for the
Company or any of its Subsidiaries; (ii) intentional wrongful damage to the property or business of the Company or any of its Subsidiaries; (iii) intentional wrongful disclosure of secret processes or confidential information of the
Company or any of its Subsidiaries; (iv) breach of any non-competition or non-solicitation, confidentiality or invention assignment obligation of the Recipient to
the Company or any of its Subsidiaries; (v) intentional failure or refusal to comply with the conditions of any contractual or other arrangement binding the Recipient to exercise certain chargeable duties for the benefit of the Group unless
such failure or refusal to comply is required by the applicable law. 
 “Change of Control” means the acquisition of Control
of the Company by a Person (or a group of Persons acting together), including by one or more existing affiliated shareholders of the Company or a Person Controlled by one or more existing affiliated shareholders of the Company, to acquire shares in
the Company, other than a transaction arising as part of a corporate reorganisation which is determined in good faith by the Board not to constitute of change of control. 

“Control” (including the terms “Controls”, “Controlled by” and “under common Control with”)
means, with respect to any Person, the ownership, directly or indirectly, of interests representing more than fifty per cent. (50%) of the voting power of a legal entity, or having the power to control the management, operations or policies of such
Person (whether pursuant to a contract, trust arrangement or otherwise) or elect a majority of members to the board of directors or equivalent decision-making body of such legal entity; provided that, all voting power held by entities under common
control 

  
 26 

 
(including investment funds under common control) shall be aggregated together and attributed to each other such entity under common control for the purpose of determining the voting power
percentage of each such entity. 
 “Disability” means termination of a Recipient’s contractual or other arrangement
binding him/her to exercise certain chargeable duties for the benefit of the Group because of a physical or mental infirmity that impairs the Recipient’s ability to perform substantially their duties for a period of one hundred and eighty
(180) consecutive days which is sufficiently confirmed by a respective authority. 
 “EIP Shares” means the shares to
be issued to the Recipient pursuant to the terms of this Agreement which will be (i) before an initial public offering of shares (or depository receipts) in the Company, redeemable preference shares in the capital of the Company and
(ii) after an initial public offering of shares (or depository receipts) in the Company, ordinary shares in the capital of the Company. 

“Exit Event” shall mean the occurrence of: 

(i) the admission of all or any part of the share capital of the Company (including depositary shares representing any shares of the Company)
to trading on an internationally recognized stock exchange; or 
 (ii) a Change of Control. 

“FMV” means fair market value of an EIP Share, which will be deemed to be equal to the fair market value of a Share, which
shall be: 
 (A) at any time when Shares (or depositary shares representing such Shares) are not publicly traded on an internationally
recognized stock exchange, the fair market value of the Group most recently determined by the Board, in its sole discretion and acting in good faith, to be the fair market value thereof, divided by a number of shares of the Company on a
fully-diluted basis as at the date of determination. The fully-diluted number of shares is calculated based on an assumption that all Awards (together with other share-based instruments issued by the Company) that have been vested through the date
of determination are converted into Shares as at that date in accordance with the EIP or the terms of such instruments. This determination shall be made at least once a year at the meeting of the Board. The Board may use that value or may decide to
determine the fair market value within 10 days of any event triggering an Acquisition Date. In making this determination, the Board may have regard to (but need not be bound by): 

 

	 	(a)	 the price of a Share in any recent transaction in Shares, including: 

 

	 	(i)	 the price paid per Share by any new investor in the Company; or 

 

	 	(ii)	 the price paid per Share by any shareholder; or 

 

	 	(b)	 any valuation of a Share by an independent valuer, or 

(B) at the date of an IPO, the fair market value is determined based on public offering price defined in its prospectus or any other offering
circular document, or 
 (C) at any time when Shares (or depositary shares representing any shares of the Company) are publicly traded on an
internationally recognized stock exchange, a 

  
 27 

 
closing price per Share averaged for the period of 3 months prior to the date of determination (as adjusted to account for the ratio of Shares to such depositary shares, if necessary). 

“Good Reason” means: without the express written consent of the Recipient, the occurrence after a Change of Control of any of
the following circumstances: 
 (i) a reduction by the Company or its Subsidiary of the agreed fees for the Recipient’s services payable
to the Recipient under a contractual or other arrangement binding the Recipient to exercise certain chargeable duties for the benefit of the Company or any of its Subsidiaries, or other material deterioration in the conditions under which the
Recipient renders his/her services as in effect on the date of the Change of Control, but excluding any reduction resulting merely from currency exchange fluctuations; 

(ii) the Company or its Subsidiary requiring the Recipient to be based full time more than fifty (50) miles away from the location where
the Recipient principally renders his/her services for the benefit of the Group immediately prior to the date of the Change of Control; 

(iii) a material reduction in the position, duties or responsibilities of the Recipient in relation to a contractual or other arrangement
binding the Recipient to exercise certain chargeable duties for the benefit of the Company or any of its Subsidiaries as in effect at the date of the Change of Control; or 

(iv) the failure by the Company to pay the Recipient any portion of his/her compensation within seven (7) days after the date such
compensation is due, 
 unless such circumstance is fully corrected within thirty days after the Recipient has informed the Company in
writing that he/she intends to terminate a contractual or other arrangement binding him/her to exercise certain chargeable duties for the benefit of the Company or any of its Subsidiaries for Good Reason and specifies the circumstance or
circumstances which cause the Good Reason. 
 “Group” means the Company and all Subsidiaries together. 

“Person” means any natural person, firm, partnership, association, corporation, company, trust, business trust, Governmental
Authority or other entity; 
 “Share” means an ordinary share of US$ 0.025 nominal value in the capital of the Company. 

“Subsidiary” means any Person Controlled by the Company or where the Company is a shareholder and Controls alone pursuant to
an agreement with other shareholders, a majority of voting rights in such Person. 
  

	1.	 Equity Incentive Award. 

 

	1.1	 Grant. As of the Effective Date of this Agreement, the Company hereby awards to the Recipient pursuant to the
Company’s Equity Incentive Plan approved by the Shareholders of the Company on [INSERT DATE] as amended (the “EIP”), as set out in 

  
 28 

	 	
the attached notice of restricted share unit (“Restricted Share Unit”) awards addressed to the Recipient (the “Notice”). For the purposes of this Agreement the
award date for the RSUs shall be the ‘Award Date’ as specific in the Notice (the “Award Date”). 

  

	1.2	 Acquisition Date. Subject to the conditions set forth in Section 2 below having been fulfilled and the
necessary corporate approvals having been obtained, the Company shall issue to the Recipient EIP Shares pursuant to all vested Restricted Share Units and subject to the terms of clause 1.3 on the earliest of: 

 

	 	(a)	 the date upon which an Exit Event occurs; 

 

	 	(b)	 the tenth anniversary of the Award Date; 

 

	 	(c)	 a date selected by the Company which shall fall within thirty (30) days following the termination of the
Recipient’s contractual or other arrangement binding him/her to exercise certain chargeable duties for the benefit of the Group in the event this termination occurred for any reason other than Cause or engaging in competitive activities
following termination as provided for in this Agreement; and 

  

	 	(d)	 on a date selected by the Company which shall fall within nine (9) months following the date of death or
Disability of the Recipient. 

 The applicable acquisition date shall be hereinafter referred to as the “Acquisition
Date”. 
  

	1.3	 Number of EIP Shares issued to the Recipient upon the Acquisition Date. Upon the Acquisition Date, the Company
shall issue to the Recipient such number of EIP Shares subject to this Agreement as is equal to the number of the Recipient’s vested Restricted Share Units. 

 

	2.	 Conditions to Share Rights. 

 

	2.1	 Vesting of Restricted Share Units. Except as otherwise provided in this Agreement, the Recipient’s
Restricted Share Units shall vest in accordance with the Vesting Schedule set forth in the Notice. 

  

	2.1.1	 Unless otherwise decided by the Board, a vesting period will be suspended if the Recipient ceases carrying out
chargeable duties for the benefit of the Company under a contractual or other binding arrangement due to maternity/paternity leave. The vesting suspends in the calendar quarter during which a maternity/paternity leave starts (supported by a
maternity/paternity sick list in case the Recipient is a Russian tax resident) and resumes in calendar quarter during which the Recipient resumes carrying out chargeable duties for the benefit of the Company under a contractual or other binding
arrangement. The vesting suspension period may be reduced at the sole discretion of the Board. 

  

	2.2	 Accelerated Vesting. With respect to Recipients who are in a contractual or other arrangement binding them to
exercise certain chargeable duties for the benefit of an entity or entities in the Group, all Restricted Share Units shall vest immediately if such arrangement is terminated within 12 months following a Change of Control either by (i) the
Recipient for a Good Reason; or (ii) by the Company or its Subsidiary for any reason other than Cause. Other than as provided in this clause, following an Exit Event 

  
 29 

	 	
(including, for the avoidance of doubt, a Change of Control), all Restricted Share Units shall continue to vest in accordance with their applicable vesting schedules, subject to the continuation
of the Recipient’s contractual or other arrangement binding him/her to exercise certain chargeable duties for the benefit of the Group. 

  

	2.3	 Death or Disability of Recipient. In the case of a Recipient’s death the EIP Shares shall be issued to the
Recipient’s personal representatives (including his heirs by will and operation of law) or in the case of Disability to his authorised and lawful representatives. Any Restricted Share Units that have not vested by the date of death or
Disability will lapse and become void on that date. 

  

	2.4	 Continuous Relationship Required. Unless clause 2.2 applies, if the contractual or other arrangement binding
the Recipient to exercise certain chargeable duties for the benefit the Group is terminated (and no such arrangement with the same or a different entity of the Group remains or is entered), any Restricted Share Units that have not vested at the date
of the termination will lapse. 

  

	2.5	 Cancellation of Rights and this Agreement. If: 

(1) a contractual or other arrangement binding a Recipient to exercise certain chargeable duties for the benefit of the Group is terminated for
Cause, (2) a Recipient harms the reputation and public image of the Company or any entity in the Group by “bad-mouthing” or (3) a Recipient breaches any
non-competition or non-solicitation, confidentiality or invention assignment agreement obligation of the Recipient to the Company or any of its Subsidiaries; then all
Restricted Share Units held by such Recipient (whether vested or unvested) shall lapse and become void. 
  

	2.6	 Rights attaching to Restricted Share Units. Restricted Share Units will not entitle the relevant Recipient to
vote or to receive dividends, to receive any financial reports from the Company and to access any information on the operational activity of the Group, including access to any documents relating to such activity, which is not publicly available.

  

	2.7	 Rights attaching to EIP Shares. Any EIP Shares issued to the Recipient (or in the event of his death, his
personal representatives, including his heirs by will and operation of law or in the event of Disability to his authorised and lawful representatives) will be subject to the provisions of the articles of association of the Company in force from time
to time. A copy of the articles of association of the Company may be obtained on request from the Company secretary. The Recipient may be required as a condition to the issuance of EIP Shares to him/her to execute and agree to be bound by the terms
of any shareholders’ agreement relating to the Company in force as at the time any EIP Shares are issued. 

  

	3.	 Nontransferability of Rights. The Restricted Share Units under this Agreement are personal to the Recipient and
no rights granted hereunder may be transferred, assigned, pledged or hypothecated in any way (whether by operation of law or otherwise), other than to the Recipient’s representatives in accordance with clause 2.3, nor shall any such rights be
subject to execution, attachment or similar process. Upon any attempt to transfer, assign, pledge, hypothecate or otherwise dispose of such rights contrary to the provisions hereof, or upon the levy of any attachment or similar process upon such
rights, this Agreement and all rights of the Recipient herein shall, at the election of the Company, become null and void. 

  
 30 

	4.	 No Special Rights. Nothing contained in the EIP or this Agreement shall be construed or deemed by any Person
under any circumstances to bind the Company to offer or continue any contractual or other arrangement binding the Recipient to exercise certain chargeable duties for the benefit of the Group for the period within which this Agreement is valid.

  

	5.	 Adjustment Provisions. In the event of any share split, reverse share split, share dividend, recapitalization,
combination of shares, reclassification of shares, spin-off or other similar change in capitalization or event, or any dividend or distribution to shareholders of the Company other than an ordinary cash
dividend, the number and class of securities subject to the Restricted Share Units shall be equitably adjusted by the Company (or substituted awards may be made, if applicable) in the manner determined by the Board. 

 

	6.	 Withholding Taxes. The Company’s continuing obligation to issue or to procure the issuance of any EIP
Shares herein shall be subject to the Recipient’s satisfaction of all applicable income tax obligations. 

  

	7.	 Repurchase rights of Company. 

 

	7.1	 Buy-out of Restricted Share Units. Within 20 days following the event
triggering an Acquisition Date other than an Exit Event, the Board may decide instead to settle a vested portion of Restricted Share Units by the Company (or a Subsidiary) making to the Recipient (or, in the event of his death or Disability, his or
her lawful representatives) a cash payment equal to the FMV, multiplied by the number of vested Restricted Share Units. 

  

	7.2	 Redemption of EIP Shares. The Company shall have the right to redeem any or all EIP Shares issued pursuant to
this Agreement at nominal value in accordance with the terms of the articles of association of the Company. 

  

	7.3	 Conversion of EIP Shares. In certain circumstances EIP Shares will be converted into ordinary shares in the
ratio 1:1, subject to and in accordance with the provisions of the articles of association of the Company. 

  

	8.	 Miscellaneous. 

  

	8.1	 Except as provided herein, this Agreement may not be amended or otherwise modified unless evidenced in writing
and signed by the Company and the Recipient. The Recipient shall have a unilateral right at all times to terminate this Agreement upon written notice to the Company. 

 

	8.2	 All notices under this Agreement shall be mailed or delivered by hand to the Parties at their respective
addresses set forth beneath their names below or at such other address as may be designated in writing by either of the Parties to one another. 

  

	8.3	 This Agreement shall be governed by and construed in accordance with the laws of England and Wales.

  
 31 

	8.4	 The Parties acknowledge that certain rights and obligations of the Parties pursuant to this Agreement may be
affected by the EIP and that the EIP may be modified from time to time by the Company without the Recipient’s approval. The Company undertakes to notify the Recipient from time to time of any changes that are made to the EIP and in the event of
any conflict between the terms of this Agreement and the EIP, the terms of this Agreement shall prevail, unless the Recipient consents to such changes in accordance with clause 8.1. 

 

	8.5	 The Recipient hereby consents to the collection, use and transfer of personal data as described in this
section. The Recipient understands that the Group hold certain personal information about him/her, including but not limited to his/her name, home address and telephone number, date of birth, identification document number, any shares or
directorships held in the Company (“Data”). The recipient further understands that the Company will transfer Data as necessary for the purposes of the EIP and may further transfer the Data to any third parties in the course of
performance of its obligations under the EIP. The Recipient understands that recipients of the Data may be located in Russia, Cyprus or elsewhere. The Recipient authorises further recipients to receive, possess, use, retain and transfer the Data in
electronic or other form, for the purposes of performance of the EIP. 

  

	8.6	 In any applicable case the Company and/or any Subsidiaries shall be entitled to withhold or collect any
relevant taxes and/or contributions payable in connection with the issuance, conversion or transfer of EIP Shares or repurchase of Restricted Share Units under this Plan. Notwithstanding the above, the Recipient hereby acknowledges and agrees that
the responsibility for paying any amounts of tax and/or social security contributions if any attributable to or payable in connection with any event pursuant to this Plan shall remain with and be a liability of the Recipient. The Recipient hereby
further agrees to provide the Company or a Subsidiary on request with such documentation, assurances or information as the Company or a Subsidiary may require to satisfy itself either that it may withhold any tax and/or social security contributions
where the Company or a Subsidiary has an obligation to do so, or that the Recipient himself will pay any such amounts of tax and/or social security contributions directly to the relevant authority in any jurisdiction in accordance to the relevant
legislation. 

  
 32 

 Executed as a deed for and on behalf of OZON HOLDINGS LIMITED 

 

			
	                                    
                                    
	By:	 	
	Director	 	

  

			
	                                    
                                    
	By:	 	
	Director	 	

 Executed as a deed by [ NAME OF RECIPIENT] 

 

			
	 Recipient
	 	
	 Signature
	 	:..................
		 	......

  

			
	in the presence of:	 	
	Witness	 	
	 Signature
	 	:
	 Name
	 	:
	 Occupation
	 	:
	 Address
	 	:

  
 33EX-10.1

 Exhibit 10.1 

FORM OF 
 TRANSITION SERVICES
AGREEMENT 
 By and Between 

AARON’S HOLDINGS COMPANY, INC. 

and 
 AARON’S SPINCO, INC.

 Dated as of [•], 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 
	  	8
			
	 Section 3.01.
	 	Charges for Services	  	8
			
	 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	  	9
			
	 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	  	11
		
	 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

  
 i 

							
		
	 ARTICLE VIII LIMITED LIABILITY AND INDEMNIFICATION 
	  	 	13	 
			
	 Section 8.01.
	 	Limitations on Liability	  	 	13	 
			
	 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	  	 	14	 
			
	 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	  	 	16	 
			
	 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	  	 	21	 
			
	 Section 9.20.
	 	Mutual Drafting	  	 	21	 

  

  
 ii 

 TRANSITION SERVICES AGREEMENT 

This TRANSITION SERVICES AGREEMENT (this “Agreement”) is entered into as of [•], 2020 between Aaron’s
Holdings Company, Inc., a Georgia corporation (“RemainCo”), and Aaron’s SpinCo, 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 [•], 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. 

  
 2 

 “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. 
 (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. 

  
 6 

 (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 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

  
 7 

 
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). 
 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 

  
 8 

 
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”). 

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 

  
 9 

 
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. 
 (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. 

  
 10 

 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. 
 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 

  
 11 

 
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. 

  
 12 

 (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 OF THE OTHER
PARTY (INCLUDING LOST PROFITS OR LOST REVENUES) IN CONNECTION WITH THE SALE, DELIVERY, PROVISION OR USE OF OR FAILURE TO 

  
 13 

 
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. 
 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. 

  
 14 

 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. 
 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. 

  
 16 

 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: 

[•] 
 [•] 

[•] 
 Attn: [•] 

Email: [•] 

  
 17 

 with a copy to: 

[•] 
 [•] 

[•] 
 Attn: [•] 

Email: [•] 
 If to SpinCo
to: 
 [•] 
 [•] 

[•] 
 Attn: [•] 

Email: [•] 
 with a copy to:

 [•] 
 [•] 

[•] 
 Attn: [•] 

Email: [•] 
 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

  
 18 

 
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). 

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. 

  
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 (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. 

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. 

  
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 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 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 [__]. 
 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] 

  
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 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:	 	  

		 	Name:	 	[•]
		 	Title:	 	[•]
	
	AARON’S SPINCO, INC.
		
	By:	 	  

		 	Name:	 	[•]
		 	Title:	 	[•]

 [Signature Page to Transition Services Agreement]

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