Document:

Stipulation and Agreement of Compromise, Settlement and Release

 Exhibit 10.2 
 IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE 
  

			
	 IN RE REVLON, INC.

SHAREHOLDERS LITIGATION
	  	Consol. C.A. No. 4578-VCL

 STIPULATION AND AGREEMENT OF 

COMPROMISE, SETTLEMENT AND RELEASE 
 The plaintiffs in the actions captioned Mercier v. Perelman, et al., C.A. No. 4532-VCL (Del. Ch.); Jurkowitz v. Perelman, et al., C.A. No. 4557-VCL (Del. Ch.); Lefkowitz v.
Revlon, Inc., et al., C.A. No. 4563-VCL (Del. Ch.); Heiser v. Revlon, Inc., et al., C.A. No. 4578-VCL (Del. Ch.); Gutman v. Perelman, et al., C.A. No. 5158-VCL (Del. Ch.); Corneck v. Perelman, et al., C.A.
No. 5160-VCL (Del. Ch.), which were consolidated under the caption In re Revlon, Inc. Shareholders Litigation, C.A. No. 4578-VCL (Del. Ch.) (each of the foregoing actions collectively, the “Delaware Actions”); Garofalo
v. Revlon, Inc., et al., C.A. No. 1:09-CV-01008-GMS (D. Del.); and Sullivan v. Perelman, et al., No. 650257/2009 (N.Y. Sup. Ct.) (collectively, with the Delaware Actions, the “Actions”), on the one hand, and Ronald O.
Perelman, Barry F. Schwartz, David L. Kennedy, Alan T. Ennis, Alan S. Bernikow, Paul J. Bohan, Meyer Feldberg, Ann D. Jordan, Debra L. Lee, Tamara Mellon, Kathi P. Seifert, Revlon, Inc. (“Revlon” or the “Company”), and
MacAndrews & Forbes Holdings Inc. (“MacAndrews & Forbes”) (collectively, “Defendants”), on the other hand, through their counsel, have reached this Stipulation and Agreement of Compromise, Settlement and Release
(with the exhibits hereto, this “Stipulation”), subject to approval by the Court of Chancery of the State of Delaware (the “Delaware Chancery Court”): 

 WHEREAS, on April 20, 2009, Revlon announced that MacAndrews & Forbes
proposed a merger transaction (the “Proposal”); 
 WHEREAS, on April 24, 2009, plaintiff Vern Mercier
filed a verified complaint against Defendants and now-former Revlon director Kenneth L. Wolfe (“Wolfe”) on behalf of a putative class of Revlon’s stockholders in the Delaware Chancery Court captioned Mercier v. Perelman, et
al., C.A. No. 4532-VCL (Del. Ch.) (the “Mercier Action”); 
 WHEREAS, on May 1, 2009,
plaintiff Arthur Jurkowitz filed a verified complaint against Defendants and Wolfe on behalf of a putative class of Revlon’s stockholders in the Delaware Chancery Court, captioned Jurkowitz v. Perelman, et al., C.A. No. 4557-VCL
(Del. Ch.) (the “Jurkowitz Action”); 
 WHEREAS, on May 4, 2009, plaintiff Stanley S. Sullivan
filed a complaint against Defendants and Wolfe on behalf of a putative class of Revlon’s stockholders in the New York State Supreme Court, captioned Sullivan v. Perelman, et al., No. 650257/2009 (N.Y. Sup. Ct.) (the
“Sullivan Action”); 
 WHEREAS, Wolfe was later dismissed by plaintiff Stanley S. Sullivan from the
Sullivan Action; 
 WHEREAS, on May 5, 2009, plaintiff Suri Lefkowitz filed a verified complaint against
Defendants and Wolfe on behalf of a putative class of Revlon’s stockholders in the Delaware Chancery Court, captioned Lefkowitz v. Revlon, Inc., et al., C.A. No. 4563-VCL (Del. Ch.) (the “Lefkowitz Action”);

 WHEREAS, on May 12, 2009, plaintiff T. Walter Heiser filed a verified complaint against Defendants and Wolfe on
behalf of a putative class of Revlon’s stockholders in the Delaware Chancery Court, captioned Heiser v. Revlon, Inc., et al., C.A. No. 4578-VCL (Del. Ch.) (the “Heiser Action”); 

  
 2 

 WHEREAS, the Mercier Action, Jurkowitz Action, Lefkowitz Action
and Heiser Action challenged the Proposal (collectively, the “Initial Delaware Actions”); 
 WHEREAS,
the Sullivan Action also challenged the Proposal; 
 WHEREAS, on June 24, 2009, the Initial Delaware Actions
were consolidated under the caption In re Revlon, Inc. Shareholders Litigation, C.A. No. 4578-VCL (Del. Ch.); 

WHEREAS, on August 10, 2009, the Company launched a voluntary exchange offer (the “Exchange Offer”); 

WHEREAS, following amendments to the terms of the Exchange Offer, the final date on which tenders of Revlon Class A Common
Stock could be made was October 7, 2009; 
 WHEREAS, on October 8, 2009, the Company consummated the Exchange
Offer; 
 WHEREAS, pursuant to the Exchange Offer, Revlon issued to stockholders who elected to tender shares into the
Exchange Offer 9,336,905 shares of its newly issued Series A Preferred Stock in exchange for the same number of shares of Revlon Class A Common Stock tendered in the Exchange Offer; 

WHEREAS, on October 29, 2009, Revlon announced its third quarter results for the fiscal quarter ended September 30,
2009; 
 WHEREAS, on December 21, 2009, plaintiff Edward S. Gutman filed a verified complaint on behalf of a
putative class of Revlon’s stockholders in the Delaware Chancery Court captioned Gutman v. Perelman, et al., C.A. No. 5158-VCL (Del. Ch.) (the “Gutman Action”); 

WHEREAS, on December 21, 2009, plaintiff Lawrence Corneck filed a verified complaint on behalf of a putative class of
Revlon’s stockholders in the Delaware Chancery Court captioned Corneck v. Perelman, et al., C.A. No. 5160-VCL (Del. Ch.) (the “Corneck Action”); 

WHEREAS, the Gutman Action and the Corneck Action alleged breach of fiduciary duty claims in connection with the
Exchange Offer and alleged that information regarding the Company’s financial results for the third quarter 2009 should have been disclosed in the Exchange Offer materials; 

  
 3 

 WHEREAS, on December 24, 2009, an amended complaint was filed in the
Sullivan Action on behalf of stockholders that participated in the Exchange Offer, alleging, among other things, that information regarding the Company’s financial results for the third quarter 2009 should have been disclosed in the
Exchange Offer materials; 
 WHEREAS, on December 31, 2009, plaintiff John Garofalo filed a
putative class action complaint on behalf of stockholders that participated in the Exchange Offer against Defendants1 in the United States District Court for the
District of Delaware (the “Delaware District Court”) captioned Garofalo v. Revlon, Inc., et al., C.A. No. 1:09-cv-01008-GMS (D. Del.) (the “Garofalo Action”), alleging federal and state law claims in connection
with the Exchange Offer and alleging that information regarding the Company’s financial results for the third quarter 2009 should have been disclosed in the Exchange Offer materials; 

WHEREAS, on January 6, 2010, an amended complaint was filed in the Initial Delaware Actions against Defendants and Wolfe,
making allegations similar to those contained in the amended Sullivan Action complaint; 
 WHEREAS, on
January 15, 2010, the Delaware Chancery Court consolidated the Gutman Action and Corneck Action with the previously consolidated Initial Delaware Actions (the Initial Delaware Actions, Gutman Action and Corneck
Action, collectively, are hereafter referred to as the “Consolidated Action”); 
 WHEREAS, on
March 16, 2010, the Delaware Chancery Court changed the leadership structure for plaintiffs in the Consolidated Action, appointing Smith Katzenstein & Furlow, LLP 

 

	1 	 Wolfe was initially named as a defendant in the Garofalo Action, but was later dismissed.

  
 4 

 
(now Smith Katzenstein & Jenkins, LLP), Harwood Feffer LLP, and the Law Offices of Curtis V. Trinko, LLP as lead counsel for plaintiffs in the Consolidated Action (“Delaware Lead
Counsel”); 
 WHEREAS, on March 16, 2010, the Delaware District Court appointed Berger & Montague,
P.C. as lead counsel in the Garofalo Action; 
 WHEREAS, on May 11, 2010, Richard Smutek, on behalf of
Revlon, filed a derivative complaint against Defendants (in which Revlon was named as a nominal defendant) and current Revlon director Richard J. Santagati (“Santagati”) in the Delaware District Court captioned Smutek v. Perelman, et
al., No. 1:10-CV-00392-GMS (D. Del.) (the “Smutek Action”), in connection with the Exchange Offer and the alleged failure to disclose information in the Exchange Offer materials regarding the Company’s financial
results for the third quarter 2009; 
 WHEREAS, plaintiff Richard Smutek later filed a voluntary dismissal of Santagati
from the Smutek Action; 
 WHEREAS, the complaint in the Smutek Action alleged, among other
things, that Defendants’ alleged misconduct with respect to the Exchange Offer exposed Revlon to litigation such as the Garofalo Action, Gutman Action and Corneck Action, and
potential damages arising therefrom; 
 WHEREAS, on May 25, 2010, an amended complaint was filed in the
Consolidated Action alleging breach of fiduciary duty claims in connection with the Exchange Offer and claiming that information regarding the Company’s financial results for the third quarter 2009 should have been disclosed in the Exchange
Offer materials; 
 WHEREAS, Wolfe was not named as a defendant in the amended complaint filed in the Consolidated
Action; 

  
 5 

 WHEREAS, the amended complaint in the Consolidated Action was brought on behalf of
both stockholders who participated in the Exchange Offer and stockholders who did not participate in the Exchange Offer; 

WHEREAS, on July 9, 2010, Defendants answered the amended complaint in the Consolidated Action; 

WHEREAS, on August 16, 2010, Defendants moved to dismiss the complaint in the Smutek Action; 

WHEREAS, Defendants’ motions to dismiss the complaint in the Smutek Action are fully briefed and currently pending;

 WHEREAS, on July 29, 2011, an amended complaint was filed in the Garofalo Action; 

WHEREAS, Wolfe was not named as a defendant in the amended complaint filed in the Garofalo Action; 

WHEREAS, on January 10, 2012, Delaware Lead Counsel filed a motion for class certification, seeking certification of two
subclasses: one subclass of stockholders who participated in the Exchange Offer and another subclass of stockholders who did not participate in the Exchange Offer; 
 WHEREAS, on January 31, 2012, Defendants filed motions to dismiss the amended complaint in the Garofalo Action; 
 WHEREAS, on March 2, 2012, the plaintiff in the Garofalo Action filed a response opposing Defendants’ motions to dismiss, and a motion alternatively seeking leave to amend and file
a second amended complaint; 
 WHEREAS, the motions to dismiss and amend in the Garofalo Action are fully briefed
and currently pending; 
 WHEREAS, merits discovery is proceeding in the Consolidated Action; 

  
 6 

 WHEREAS, by agreement of the parties, the plaintiff in the Garofalo Action has
participated in the merits discovery proceeding in the Consolidated Action, and the plaintiff in the Sullivan Action had the opportunity to participate; 
 WHEREAS, Defendants have produced tens of thousands of documents as part of merits discovery; 
 WHEREAS, Delaware Lead Counsel has produced documents on behalf of Edward S. Gutman and Lawrence Corneck in the Consolidated Action; 

WHEREAS, numerous third parties have been subpoenaed and produced documents as part of merits discovery; 

WHEREAS, two representatives of Barclays Capital Inc., Revlon directors Debra L. Lee and Meyer Feldberg, and Wolfe have been
deposed; 
 WHEREAS, Defendants deposed proposed class representatives Edward S. Gutman and Lawrence Corneck; 

WHEREAS, on December 6, 2010, Delaware Lead Counsel retained and thereafter consulted regularly with a financial advisor, who
evaluated the claims asserted in the Actions and the potential settlement; 
 WHEREAS, beginning in September 2011 and
continuing from time to time thereafter, Delaware Lead Counsel and counsel for Defendants discussed a potential resolution of the Consolidated Action; 
 WHEREAS, in April 2012, an in-person meeting to discuss settlement of the Consolidated Action took place among multiple attorneys for plaintiffs in the Consolidated Action and multiple attorneys
for Defendants; 
 WHEREAS, on June 21, 2012 and July 17, 2012, Defendants reached agreements to settle claims
in connection with the Exchange Offer directly with the following stockholders that 

  
 7 

 
had participated in the Exchange Offer and were members of the putative class on whose behalf the Actions have been brought: (i) Fidelity Management & Research Company and its
investment advisory affiliates, all of which are direct or indirect subsidiaries of FMR LLC, which at the time of the Exchange Offer was the largest unaffiliated Revlon stockholder; (ii) the following funds advised by Fidelity
Management & Research Company or its investment advisory affiliates: (a) Fidelity Securities Fund: Leveraged Company Stock Fund; (b) Fidelity Advisor Series I: Advisor Leveraged Company Stock Fund; and (c) Fidelity Advisor
High Yield Portfolio; (iii) the following institutional client accounts or funds that are advised by an investment advisory affiliate of Fidelity Management & Research Company: (a) Fidelity Canadian Balanced Fund – High Yield
Bond Subaccount; (b) Pension Reserve Investment Management Board of Massachusetts High Yield Bond Account; (c) General Motors Hourly-Rate Employees Pension Trust 7N1J (Successor In Interest); and (d) General Motors Salaried Employees
Pension Trust 7N1L (Successor In Interest) (the entities listed in subsections (i) – (iii) are collectively referred to as “Fidelity,” and the agreement to settle claims with Fidelity is collectively referred to as the
“Fidelity Settlement”); (iv) Archview Fund L.P (and its predecessor entity, Archview Credit Opportunities Fund L.P.); and (v) Archview Master Fund Ltd. (and its predecessor entity, Archview Credit Opportunities Master Fund Ltd.)
(the entities listed in subsections (iv) – (v) are collectively referred to as “Archview,” and the agreement to settle claims with Archview is collectively referred to as the “Archview Settlement”); 

WHEREAS, at the end of June, Delaware Lead Counsel and counsel for Defendants commenced more intensive settlement discussions;

 WHEREAS, in July 2012, counsel in the Garofalo Action separately initiated settlement discussions with counsel
for Defendants, to which counsel for Defendants did not respond substantively; 

  
 8 

 WHEREAS, in July 2012 and August 2012, Delaware Lead Counsel negotiated with counsel
for plaintiffs in the Sullivan Action, Garofalo Action and Smutek Action concerning a potential resolution of their actions; 
 WHEREAS, on August 10, 2012, at the conclusion of the negotiations between counsel for Defendants and Delaware Lead Counsel, the parties to all the actions identified above reached a
comprehensive agreement in principle providing for the settlement of the actions on the terms and conditions set forth herein and in a stipulation to be filed with the Delaware District Court; 

WHEREAS, because counsel for the parties have concluded that a settlement of the Settled Claims (as defined below) based upon the
terms contained in this Stipulation is preferable to continued litigation, and counsel for plaintiffs in the Actions believe that such terms are fair, reasonable, adequate and in the best interests of the Class (as defined below), and because it is
reasonable to pursue a settlement of the Settled Claims based upon the procedures outlined herein and the benefits and protections offered herein, the parties wish to document their agreement in this Stipulation; 

WHEREAS, in deciding to pursue a settlement, counsel for plaintiffs in the Actions engaged in an investigation of the claims
asserted in the Actions, including consideration of some or all of the following: a review of news articles, analyst reports, United States Securities and Exchange Commission filings, other publicly available documents, confidential documents
provided by Defendants in response to multiple discovery requests, documents produced by third parties, and deposition testimony; 
 WHEREAS, in deciding to pursue a settlement, Delaware Lead Counsel specifically evaluated the claims brought on behalf of stockholders who did not participate in the Exchange Offer, and concluded,
after discussion with their financial advisor, that stockholders who did not participate in the Exchange Offer were not damaged as a result of the Exchange Offer; 

  
 9 

 WHEREAS, counsel for plaintiff in the Garofalo Action have represented that
they performed a damages analysis with their in-house expert, who evaluated the tendering stockholders’ claims asserted in the Actions and the potential settlement; 
 WHEREAS, counsel for the parties in the Actions did not discuss the appropriateness or amount of any application by counsel for plaintiffs in the Actions for an award of attorneys’ fees and
expenses until the substantive terms of the settlement on behalf of and for the benefit of the Class (as defined below) were agreed upon; 
 WHEREAS, each of the Defendants has denied, and continues to deny, all allegations of wrongdoing, fault, liability or damage to plaintiffs and the putative classes in the Consolidated Action,
Sullivan Action, Garofalo Action and Smutek Action and otherwise deny that they have engaged in any wrongdoing or committed any violation of law or breach of duty and believe that they acted properly at all times, but wish to
settle the Actions on the terms and conditions stated in this Stipulation in order to eliminate the burden and expense of further litigation and to put the Settled Claims (as defined below) to be released hereby to rest finally and forever;

 WHEREAS, there has been no admission or finding of fact or liability by or against any party and nothing herein should
be construed as such; and 
 WHEREAS, the Delaware Chancery Court has jurisdiction to make decisions regarding the
settlement and any corresponding award of attorney fees’ and expenses in the Actions; 
 NOW, THEREFORE, IT IS
HEREBY STIPULATED AND AGREED, in consideration of the benefits afforded herein, that the Actions shall be compromised, settled, released and dismissed with prejudice, upon and subject to the following terms and conditions (the
“Settlement”), and further subject to the approval of the Delaware Chancery Court and pursuant to Delaware Chancery Court Rule 23: 

  
 10 

 SETTLEMENT PAYMENT 

1. In consideration for the full settlement and release of all Settled Claims (as defined below) against all Released Persons (as defined
below) and the dismissal with prejudice of the Actions, Defendants will cause to be paid to the Class (as defined below) a total settlement payment of $9,231,303 (the “Settlement Payment”), which shall be deposited into an account to be
designated by Delaware Lead Counsel within ten (10) business days of the Effective Date (as defined in Paragraph 12 below). 
 2. Except for providing Delaware Lead Counsel with information necessary for Delaware Lead Counsel’s administration, distribution and/or allocation of the Settlement Payment, Defendants shall have no
responsibility for, or liability with respect to, the administration, distribution and/or allocation of the Settlement Payment among the Class members, and shall not be responsible for any fees or expenses associated with the administration,
distribution and/or allocation of the Settlement Payment. Delaware Lead Counsel shall administer the process for the distribution and allocation of the Settlement Payment. The administration, distribution and allocation of the Settlement Payment is
a matter separate and apart from the Settlement, and any decision, alteration or modification to the administration, distribution and allocation of the Settlement Payment shall not affect the validity or finality of the Settlement. Any reasonable
and documented expenses incurred by Defendants in providing Delaware Lead Counsel with information necessary for the administration, distribution and/or allocation of the Settlement Payment shall be reimbursed from the Settlement Payment.

  
 11 

 CLASS CERTIFICATION 

3. For settlement purposes only, the parties agree that the Actions shall be conditionally certified as a non opt-out class pursuant to
Delaware Chancery Court Rules 23(a), 23(b)(1) and (b)(2), defined as record and beneficial holders of Revlon Class A Common Stock, their respective successors in interest, successors, predecessors in interest, predecessors, representatives,
trustees, executors, administrators, heirs, assigns or transferees, immediate and remote, and any person or entity acting for or on behalf of, or claiming under, any of them, and each of them, together with their predecessors and successors and
assigns, who held shares of Revlon Class A Common Stock at any time between and including August 10, 2009 and October 8, 2009, including, but not limited to, stockholders who tendered shares in the Exchange Offer, but excluding:
(i) Fidelity Management & Research Company (“FMR Co.”) and its investment advisory affiliates, all of which are direct or indirect subsidiaries of FMR LLC, which at the time of the Exchange Offer was the largest unaffiliated
Revlon stockholder; (ii) the following funds advised by FMR Co. or its investment advisory affiliates: (a) Fidelity Securities Fund: Leveraged Company Stock Fund; (b) Fidelity Advisor Series I: Advisor Leveraged Company Stock Fund;
and (c) Fidelity Advisor High Yield Portfolio; (iii) the following institutional client accounts or funds that are advised by an investment advisory affiliate of FMR Co.: (a) Fidelity Canadian Balanced Fund – High Yield Bond
Subaccount; (b) Pension Reserve Investment Management Board of Massachusetts High Yield Bond Account; (c) General Motors Hourly-Rate Employees Pension Trust 7N1J (Successor In Interest); and (d) General Motors Salaried Employees
Pension Trust 7N1L (Successor In Interest); (iv) Archview Fund L.P (and its predecessor entity, Archview Credit Opportunities Fund L.P.); (v) Archview Master Fund Ltd. (and its predecessor entity, Archview Credit Opportunities Master Fund
Ltd.); and (vi) Defendants, any Revlon officers and directors identified in Revlon’s 2009 Annual Report who would otherwise be part of the class, and members of MacAndrews & Forbes management who

  
 12 

 
participated in the Exchange Offer (the “Class”). The Class, as defined herein and in the Order and Final Judgment (as defined below), includes plaintiffs in the Sullivan Action
and Garofalo Action. 
 4. In the event the Settlement does not become final for any reason, Defendants reserve the right
to oppose certification of any plaintiff class in any future proceedings in the Actions. 
 SUBMISSION AND APPLICATION TO
THE DELAWARE CHANCERY COURT 
 5. As soon as practicable after this Stipulation has been executed, (i) the parties
in the Consolidated Action shall apply jointly for a scheduling order (the “Scheduling Order”) substantially in the form attached hereto as Exhibit A establishing the procedure for: (a) the approval of notice to the Class
substantially in the form attached hereto as Exhibit B (the “Notice”), and (b) the Delaware Chancery Court’s consideration of the proposed Settlement, class certification, and Delaware Lead Counsel’s application for
attorneys’ fees and expenses on behalf of all plaintiffs’ counsel in the Actions as well as any compensatory award for plaintiffs; and (ii) counsel for plaintiffs in the Sullivan Action and Garofalo Action shall inform
the New York State Supreme Court and Delaware District Court, respectively, of the execution of this Stipulation and shall request a stay of all proceedings in those cases. The parties agree that the Settlement shall be presented to the Delaware
Chancery Court, which shall administer the settlement process, and that within three (3) business days of Final Approval (as defined in Paragraph 12 below) of the Settlement, the parties to the Sullivan Action and Garofalo Action
(consistent with Paragraph 34 below) shall submit appropriate papers to the New York State Supreme Court and Delaware District Court, respectively, requesting dismissal of those actions with prejudice. 

  
 13 

 NOTICE 

6. Subject to the approval of the Delaware Chancery Court, Notice of the proposed Settlement shall be provided by Revlon at its expense.
Notice shall be made by mailing a notice substantially in the form attached hereto as Exhibit B to the Class in accordance with the Scheduling Order. In addition, Revlon shall: (i) file with the United States Securities and Exchange Commission
a Form 8-K attaching a copy of the Notice and (ii) post the Notice on the Company’s website. Counsel for Revlon shall, at least ten (10) business days before the Settlement Hearing (as defined below), file with the Delaware Chancery
Court an appropriate affidavit with respect to the preparation, mailing and posting of the Notice. 
 ORDER AND FINAL
JUDGMENT 
 7. If the Settlement (including any modification made with the consent of the parties as provided for
herein) is approved by the Delaware Chancery Court following a hearing (the “Settlement Hearing”) as being fair, reasonable, adequate and in the best interests of the Class, the parties shall jointly request that the Delaware Chancery
Court enter an order and final judgment (the “Order and Final Judgment”) substantially in the form attached hereto as Exhibit C. 
 8. The Order and Final Judgment shall, among other things, provide for the full and complete dismissal of the Consolidated Action with prejudice, and the settlement and release of, and a permanent
injunction barring, any claims, demands, rights, actions, causes of action, liabilities, damages, losses, obligations, judgments, duties, suits, costs, expenses, matters and issues, known or unknown, contingent or absolute, suspected or unsuspected,
disclosed or undisclosed, liquidated or unliquidated, matured or unmatured, accrued or unaccrued, apparent or unapparent, that have been, could have been, or in the future can or might be asserted in any court, tribunal or proceeding (including, but
not limited to, any claims arising under federal, 

  
 14 

 
state, foreign or common law, including the federal securities laws and any state disclosure law), by or on behalf of plaintiffs in the Consolidated Action or any member of the Class, whether
individual, direct, class, derivative (on behalf of Revlon or otherwise), representative, legal, equitable, or any other type or in any other capacity (collectively, the “Releasing Persons”) against Defendants, Wolfe, Santagati, or any of
their respective families, parent entities, controlling persons, associates, affiliates or subsidiaries and each and all of their respective past or present officers, directors, stockholders, principals, representatives, employees, attorneys,
financial or investment advisors, consultants, accountants, investment bankers, commercial bankers, entities providing fairness opinions, underwriters, advisors or agents, heirs, executors, trustees, general or limited partners or partnerships,
limited liability companies, members, joint ventures, personal or legal representatives, estates, administrators, predecessors, successors and assigns (collectively, the “Released Persons”) which the Releasing Persons ever had, now have,
or may have by reason of, arising out of, relating to, or in connection with the acts, events, facts, matters, transactions, occurrences, statements, or representations, or any other matter whatsoever set forth in or otherwise related, directly or
indirectly, to the allegations in the Actions, the complaints and amended complaints in the Actions, the Proposal, the Exchange Offer and other transactions contemplated therein, disclosures made in connection therewith (including the adequacy and
completeness of such disclosures), any disclosure of the Company’s actual, projected or estimated financial results for the third quarter 2009, or any other disclosure made by Revlon from the date of the Proposal through the date Revlon
announced its financial results for the third quarter 2009 (including the adequacy and completeness of such disclosures) (the “Settled Claims”); provided, however, that the Settled Claims shall not release any claims to enforce the
Settlement. 

  
 15 

 9. The Order and Final Judgment shall bar and release any and all claims, known or unknown,
for damages, injunctive relief, or any other remedies against plaintiffs in the Consolidated Action or any member of the Class, their attorneys or agents based upon, arising from, or related to prosecution and/or settlement of the Actions.

 CONDITIONS OF SETTLEMENT 
 10. Defendants deny and continue to deny that they have committed or aided and abetted the commission of any unlawful or wrongful acts alleged in the Consolidated Action, Sullivan Action,
Garofalo Action and Smutek Action, and expressly maintain that they diligently and scrupulously complied with their fiduciary duties and other legal duties. Defendants are entering into this Stipulation solely because the proposed
Settlement will eliminate the burden and expense of further litigation. 
 11. Plaintiffs and their counsel in the Actions
believe Defendants would assert significant legal and factual defenses to the claims made in the Actions. Plaintiffs and their counsel in the Actions also took into consideration the strengths and weaknesses of their claims. Based on these
considerations, plaintiffs and their counsel in the Actions determined that the terms of the Settlement are fair, reasonable, adequate, and in the best interests of plaintiffs in the Actions and all members of the proposed Class. 

12. The Settlement is conditioned upon, and effective upon, the fulfillment of each of the following (the “Effective Date”):

 (i) the Settlement becoming final (“Final Approval”) upon the completion of: (a) negotiation and execution of
this Stipulation and any related documentation; (b) approval of the Settlement, entry of the Order and Final Judgment, and dismissal with prejudice of the Consolidated Action in substantially the form attached hereto as Exhibit C, without the
award of any damages, costs, or fees, except as specifically provided in this Stipulation and approved by 

  
 16 

 
the Delaware Chancery Court; (c) the inclusion in the Order and Final Judgment of a provision enjoining all members of the Class (which includes plaintiffs in the Sullivan Action and
Garofalo Action) from asserting any of the Settled Claims; and (d) such Order and Final Judgment is either finally affirmed on appeal, or is not subject to appeal (or further appeal) by lapse of time or otherwise; 

(ii) dismissal with prejudice of the Sullivan Action and Garofalo Action, which dismissals are finally affirmed on appeal,
or are not subject to appeal (or further appeal) by lapse of time or otherwise; and 
 (iii) negotiation and execution of the
settlement stipulation in the Smutek Action and any related documentation, approval of the settlement in the Smutek Action by the Delaware District Court, entry of an order and final judgment in the Smutek Action, which order
and final judgment is either finally affirmed on appeal, or is not subject to appeal (or further appeal) by lapse of time or otherwise, and dismissal with prejudice of the Smutek Action. 

13. Each of the Defendants shall have the right to withdraw from the Settlement in the event that any claims related to the Settled
Claims are commenced or prosecuted against any of the Released Persons (as defined in Paragraph 8 above) in any court prior to Final Approval (as defined in Paragraph 12 above) of the Settlement and (following a motion by Defendants) such claims are
not dismissed with prejudice or stayed in contemplation of dismissal. In the event such claims are commenced, plaintiffs in the Actions and Defendants agree to cooperate and use their reasonable best efforts to secure the dismissal (or a stay in
contemplation of dismissal following Final Approval of the Settlement) thereof. 
 14. This Stipulation shall be null and void
and of no force and effect if the Settlement does not obtain Final Approval, as defined in Paragraph 12 above, for any reason. In any such event, this Stipulation shall not be deemed to prejudice in any way the respective positions of the

  
 17 

 
parties with respect to the Actions or the Smutek Action or to entitle any party to the recovery of costs and expenses incurred in connection with the intended implementation of the
Settlement; provided, however, that Revlon shall be responsible for paying the costs of providing the Notice to the Class regardless of whether the Settlement is approved. 

15. In the event that the proposed Settlement is rendered null and void for any reason, the existence of or the provisions contained in
this Stipulation shall not be deemed to prejudice in any way the respective positions of plaintiffs or Defendants with respect to the Actions or the Smutek Action, including the right of Defendants to oppose the certification of the Class (or
any sub-class thereof), or any other class, in any future proceedings; nor shall they be deemed a presumption, concession, or admission by plaintiffs or any of the Defendants of any fault, liability, or wrongdoing as to any facts, claims, or
defenses that have been or might have been alleged or asserted in the Actions, the Smutek Action, or any other action or proceeding or each thereof; nor shall they be interpreted, construed, deemed, invoked, offered, or received in evidence
or otherwise used by any person in the Actions, the Smutek Action, or any other action or proceeding. 

ATTORNEYS’ FEES 
 16. Delaware Lead Counsel, on behalf of all counsel for plaintiffs in the Actions, intends to apply to the Delaware Chancery Court for an award of attorneys’ fees and expenses for the benefit
obtained on behalf of the Class, and the Fidelity Settlement and the Archview Settlement. Defendants reserve the right to oppose the award of attorneys’ fees and expenses based on such application, except that Defendants will not base any
opposition to the award of fees and expenses based on the Fidelity Settlement and Archview Settlement on the ground that Fidelity and Archview are not members of the Class as defined herein. The award of attorneys’ fees and expenses to any
plaintiffs’ counsel in the Actions is expressly contingent upon all of the 

  
 18 

 
conditions in Paragraph 12 above being met. Delaware Lead Counsel also intends to seek compensatory awards for certain of the plaintiffs. Payment of attorneys’ fees and expenses, and any
compensatory awards, will be made within ten (10) business days of the Effective Date. Any amounts of attorneys’ fees and expenses and/or compensatory awards for plaintiffs that are awarded by the Delaware Chancery Court on the basis of
the benefit represented by the Settlement Payment shall be paid exclusively from the Settlement Payment. While plaintiffs and their counsel will be seeking fees from Fidelity and Archview for the benefits they believe they have achieved in
connection with, respectively, the Fidelity Settlement and the Archview Settlement, they expressly acknowledge that they will not seek from Defendants, directly or indirectly, payment of any fees awarded by the Delaware Chancery Court on the basis
of the purported benefits represented by the Fidelity Settlement and the Archview Settlement, that they will seek payment of any such fees only from Fidelity and Archview, that Defendants shall not be liable to plaintiffs or their counsel for any
such fee award, and that plaintiffs in the Actions and their counsel expressly waive any right to receive such fees from Defendants. For avoidance of doubt, any efforts by plaintiffs and their counsel to obtain fees from Fidelity and Archview shall
not be deemed to be seeking or receiving from Defendants the direct or indirect payment of fees. Except as provided in this Stipulation, Defendants shall bear no other expenses, costs, damages or fees incurred by plaintiffs in any of the Actions, by
any member of the Class, or any of their respective attorneys, experts, advisors, agents, or representatives. Delaware Lead Counsel’s application for an award of attorneys’ fees and expenses, and any compensatory award for plaintiffs in
any of the Actions, will be the exclusive application for any such fees, expenses and awards, and counsel for plaintiffs in the Sullivan Action and Garofalo Action will not make separate applications for any attorneys’ fees and
expenses, or compensatory awards for plaintiffs in the Consolidated Action, Sullivan Action or Garofalo Action. Defendants shall have no 

  
 19 

 
responsibility for, or liability with respect to, the allocation among any counsel for any plaintiff of any award of attorneys’ fees and expenses that the Delaware Chancery Court may make,
and Defendants take no position with respect to such matters. Any disputes among counsel for any plaintiff with respect to the allocation of any award of attorneys’ fees and expenses shall be made to the Delaware Chancery Court. 

17. Any failure of the Delaware Chancery Court to approve a request for attorneys’ fees and expenses in whole or in part shall not
affect the remainder of the Settlement. 
 EFFECT OF RELEASES 

18. The Order and Final Judgment shall provide that the releases in Paragraphs 8 and 9 above shall extend to all claims that Releasing
Persons do not know or suspect to exist at the time of the release of the Settled Claims, which, if known, might have affected the Releasing Persons’ decisions to enter into the releases or the Settlement. Additionally, plaintiffs in the
Actions acknowledge, and the members of the Class by operation of law shall be deemed to have acknowledged, that they may discover facts in addition to or different from those now known or believed to be true by them with respect to the Settled
Claims, but that it is the intention of plaintiffs in the Actions, and by operation of law the intention of the members of the Class, to completely, fully, finally and forever compromise, settle, release, discharge, extinguish, and dismiss any and
all Settled Claims, known or unknown, suspected or unsuspected, contingent or absolute, accrued or unaccrued, apparent or unapparent, which now exist, or heretofore existed, or may hereafter exist, and without regard to the subsequent discovery of
additional or different facts. Plaintiffs in the Actions acknowledge, and the members of the Class by operation of law shall be deemed to have acknowledged, that “Unknown Claims” are expressly included in the definition of “Settled
Claims,” and that such inclusion was expressly bargained for and was a key element of the Settlement and was relied upon by each and all of the Released Persons in 

  
 20 

 
entering into this Stipulation. “Unknown Claims” means any claim that plaintiffs in the Actions or any member of the Class does not know or suspect exists in his, her or its favor at
the time of the release of the Settled Claims as against the Released Persons, including, without limitation, those which, if known, might have affected the decision to enter into the Settlement. With respect to any of the Settled Claims, the
parties stipulate and agree that upon Final Approval of the Settlement (as defined in Paragraph 12 above), plaintiffs in the Actions shall expressly and each member of the Class shall be deemed to have, and by operation of the Order and Final
Judgment by the Delaware Chancery Court shall have, expressly waived, relinquished and released any and all provisions, rights and benefits conferred by or under Cal. Civ. Code § 1542 or any law of the United States or any state of the United
States or territory of the United States, or principle of common law, which is similar, comparable or equivalent to Cal. Civ. Code § 1542, which provides: 
 A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE
MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR. 
 19. Plaintiffs in the Actions acknowledge, and the members of
the Class shall be deemed by operation of the entry of an order and final judgment approving the Settlement to have acknowledged, that the foregoing waiver was separately bargained for, is an integral element of the Settlement, and was relied upon
by each and all of the Defendants in entering into the Settlement. 
 BEST EFFORTS 

20. Plaintiffs in the Actions, Defendants, and their attorneys agree to cooperate fully with one another in seeking the Delaware Chancery
Court’s approval of this Stipulation and the Settlement, and to use their best efforts to effect, take, or cause to be taken all actions, and to do, 

  
 21 

 
or cause to be done, all things reasonably necessary, proper, or advisable under applicable laws, regulations, and agreements to consummate and make effective, as promptly as practicable, this
Stipulation and the Settlement provided for hereunder (including, but not limited to, using their best efforts to resolve any objections raised to the Settlement), and the dismissal of the Actions with prejudice and without costs, fees or expenses
to any party (except as provided for by Paragraph 16 above). 
 EXTENSIONS OF TIME 

21. Plaintiffs in the Actions and Defendants may agree to reasonable extensions of time in order to carry out any provisions of this
Stipulation. 
 STAY OF PROCEEDINGS 
 22. Pending Final Approval of the Settlement, the parties in the Actions agree to stay their respective proceedings and not to initiate any other proceedings other than those incident to the Settlement
itself. 
 23. Pending final determination of whether the Settlement should be approved, plaintiffs in the Actions and all
members of the Class are barred and enjoined from commencing, prosecuting, instigating or in any way participating in the commencement or prosecution of any action asserting any Settled Claims, either directly, representatively, derivatively, or in
any other capacity, against Defendants or any of the Released Persons. 
 24. If any action that would be barred by the releases
contemplated by the Settlement is commenced against any of the parties to this Stipulation in any court prior to the Settlement being fully approved by the Delaware Chancery Court, the parties will collectively in good faith seek the dismissal or
stay of such action. If any such motion to dismiss such action is not granted or if any such motion to stay such action is not granted in contemplation of dismissal after approval of the Settlement contemplated hereby, any Defendant may at his, her
or its sole option, prior to the Settlement Hearing conducted by the Delaware Chancery Court, withdraw from the Settlement. In such a circumstance, the Settlement will be null and void. 

  
 22 

 STIPULATION NOT AN ADMISSION 

25. The provisions contained in this Stipulation and the Settlement Payment described in Paragraph 1 above shall not be deemed a
presumption, concession, or admission by any of the Defendants in the Actions or the Smutek Action of any fault, liability, or wrongdoing as to any facts or claims alleged or asserted in the Actions or the Smutek Action, or any other
actions or proceedings, and shall not be interpreted, construed, deemed, invoked, offered, or received in evidence or otherwise used by any person in the Actions or the Smutek Action, or in any other action or proceeding, whether civil,
criminal, or administrative, except that: (i) this Stipulation and/or its exhibits may be filed in any litigation or judicial proceeding to enforce the terms of the Settlement or to enforce the dismissals of the Sullivan Action and
Garofalo Action; and (ii) Defendants may file, cite and/or refer to this Stipulation and/or the Order and Final Judgment in related litigation as evidence of the Settlement, or in any action that may be brought against them in order to
support a defense or counterclaim based on principles of res judicata, collateral estoppel, release, good faith settlement, judgment bar or reduction, or any other theory of claim preclusion or issue preclusion or similar defense or
counterclaim. 
 26. In the event that (i) the Delaware Chancery Court declines, in any material respect (except for a
disallowance or modification of the fees and/or expenses sought by Delaware Lead Counsel), to enter the Order and Final Judgment provided for in this Stipulation and any one of the parties hereto fails to consent to the entry of another form of
order in lieu thereof; (ii) the Delaware Chancery Court disapproves the Settlement proposed in this Stipulation, including any amendments thereto agreed upon by all of the parties; (iii) the Delaware Chancery Court approves the Settlement
proposed in this Stipulation or any amendment thereto approved by all 

  
 23 

 
of the parties, but such approval is reversed or substantially modified on appeal (except reversal or modification related only to the issue of Delaware Lead Counsel’s attorneys’ fees
and/or the reimbursement of expenses) and such reversal or modification becomes final by a lapse of time or otherwise; then, in any of such events, this Stipulation, the Settlement proposed in this Stipulation (including any amendments thereof), and
any actions taken or to be taken with respect to the Settlement proposed in this Stipulation and the Order and Final Judgment to be entered shall be of no further force or effect and shall be null and void, and shall be without prejudice to any of
the parties hereto, who shall be restored in all respects to their respective positions existing prior to the execution of this Stipulation, except that Revlon shall not be entitled to reimbursement of sums expended pursuant to Paragraph 6 above.
For purposes of this provision, a disallowance or modification by the Delaware Chancery Court of the attorneys’ fees and/or expenses sought by Delaware Lead Counsel shall not be deemed an amendment, modification or disapproval of the Settlement
or the Order and Final Judgment. 
 COVENANT NOT TO SUE 

27. Upon Final Approval of the Settlement, each member of the Class covenants not to sue, and each member of the Class shall be barred
from suing, any Defendant or any other Released Person for any Settled Claim. 
 ENTIRE AGREEMENT; AMENDMENTS

 28. This Stipulation constitutes the entire agreement among the parties in the Actions with respect to the subject
matter hereof, and may be modified or amended only by a writing signed by the signatories hereto. 

  
 24 

 COUNTERPARTS 

29. This Stipulation may be executed in multiple counterparts by any of the signatories hereto, including by facsimile or electronic
mail, and as so executed shall constitute one agreement. 
 GOVERNING LAW 

30. This Stipulation and the Settlement contemplated by it shall be governed by, and construed in accordance with, the laws of the State
of Delaware, without regard to conflict of laws principles. 
 SUCCESSORS AND ASSIGNS 

31. This Stipulation, and all rights and powers granted hereby, shall be binding upon and inure to the benefit of the parties and their
respective agents, executors, heirs, successors, affiliates and assigns. 
 REPRESENTATION AND WARRANTY 

32. Each plaintiff in the Actions and his counsel represent and warrant that (i) the plaintiff is or was a Revlon Class A
Common stockholder who falls within the definition of Class as defined in Paragraph 3 above, and (ii) none of the plaintiffs’ claims or causes of action referred to in any of the complaints in the Actions or this Stipulation, or any claims
the plaintiffs could have alleged, have been assigned, encumbered, or in any manner transferred in whole or in part. 

AUTHORITY 
 33. The undersigned attorneys represent and warrant that they have the authority from their client(s) to enter into this Stipulation and bind their client(s) thereto. 

SULLIVAN ACTION AND GAROFALO ACTION 

34. Counsel for the plaintiffs in the Sullivan Action and Garofalo Action shall seek dismissal with prejudice of the
Sullivan Action and Garofalo Action within three (3) business days of the date of Final Approval, as defined in Paragraph 12 above, substantially in the form attached hereto as Exhibits D and E. 

  
 25 

 Dated: October 8, 2012 

 

			
	 RICHARDS, LAYTON & FINGER, P.A.

 
 /s/ Raymond J.
DiCamillo
	    	 SMITH KATZENSTEIN & JENKINS, LLP
  

/s/ David A. Jenkins

	 Raymond J. DiCamillo (#3188)

Kevin M. Gallagher (#5337)

920 North King Street

Wilmington, Delaware 19801

(302) 651-7700
	    	 Robert J. Katzenstein (#378)

David A. Jenkins (#932)
 800 Delaware
Avenue
 Suite 1000
 Wilmington,
Delaware 19801
 (302) 652-8400

		
	 GIBSON, DUNN & CRUTCHER LLP

 
 /s/ Marshall R. King
	    	 Co-Lead Counsel for Plaintiffs in the
 Consolidated Action

	 Lawrence Zweifach

Marshall R. King
 200 Park Avenue, 47th Floor
 New York, New York
10166
 (212) 351-4000
  

Counsel for Defendants Bernikow, Bohan,

Feldberg, Jordan, Lee, Mellon, and Seifert
	    	
		
	 SKADDEN, ARPS, SLATE, MEAGHER &
 FLOM LLP
	    	HARWOOD FEFFER LLP
	  
 /s/ Thomas J. Allingham
II
	    	  
 /s/ Robert I.
Harwood

	 Thomas J. Allingham II (#476)

Alyssa S. O’Connell (#4351)
 One Rodney
Square
 P.O. Box 636
 Wilmington,
Delaware 19899
 (302) 651-3000
  

Counsel for Defendants Ennis, Kennedy,

and Revlon, Inc.
	    	 Robert I. Harwood
 Samuel K.
Rosen
 488 Madison Avenue
 New York,
New York 10022
 (212) 935-7400
  

Co-Lead Counsel for Plaintiffs in the Consolidated Action

  
 26 

			
	 BOUCHARD MARGULES & FRIEDLANDER, P.A.

 
 /s/ Andre G. Bouchard
	    	 LAW OFFICES OF CURTIS V. TRINKO, LLP
  

/s/ Curtis V. Trinko

	 Andre G. Bouchard (#2504)

Jamie L. Brown (#5551)

222 Delaware Avenue, Suite 1400

Wilmington, Delaware 19801

(302) 573-3500
	    	 Curtis V. Trinko
 Jennifer E.
Traystman
 16 West 46th Street

7th Floor
 New York, New York 10036
 (212) 490-9550

		
	 WACHTELL, LIPTON, ROSEN & KATZ

 
 /s/ William Savitt
	    	Co-Lead Counsel for Plaintiffs in the Consolidated Action
	 William Savitt
 51 West 52nd
Street
 New York, New York 10019
 (212)
403-1000
  
 Counsel for Defendants Perelman, Schwartz, and MacAndrews
& Forbes Holdings Inc.
	    	
		
	 BRAGAR EAGEL & SQUIRE, P.C.
  

/s/ Raymond A. Bragar
	    	 BIGGS & BATTAGLIA
  

/s/ Robert D. Goldberg

	 Raymond A. Bragar
 888 Third
Ave., Suite 3040
 New York, New York 10022
 (212) 308-5858
  
 Counsel
for Plaintiff in the Sullivan Action
	    	 Robert D. Goldberg (#631)

921 Orange Street
 P.O. Box 1489

Wilmington, Delaware 19899
 (302)
655-9677
  
 Counsel for Plaintiff in the Garofalo Action

 
 BERGER & MONTAGUE, P.C.

 
 /s/ Robin Switzenbaum

		    	 Lawrence Deutsch
 Robin
Switzenbaum
 Glen L. Abramson
 Shauna
Itri
 1622 Locust Street
 Philadelphia,
Pennsylvania 19103
 (215) 875-3062
  

Counsel for Plaintiff in the Garofalo Action

  
 27 

 Exhibit A 
 IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE 
  

			
	 IN RE REVLON, INC.

SHAREHOLDERS LITIGATION
	  	Consol. C.A. No. 4578-VCL

 SCHEDULING ORDER 
 Plaintiffs, by plaintiffs’ Delaware lead counsel (“Delaware Lead Counsel”) (Smith Katzenstein & Jenkins, LLP, Harwood Feffer LLP, and the Law Offices of Curtis V. Trinko, LLP), and
defendants Ronald O. Perelman, Barry F. Schwartz, David L. Kennedy, Alan T. Ennis, Alan S. Bernikow, Paul J. Bohan, Meyer Feldberg, Ann D. Jordan, Debra L. Lee, Tamara Mellon, Kathi P. Seifert, Revlon, Inc. (“Revlon” or the
“Company”), and MacAndrews & Forbes Holdings Inc. (collectively, “Defendants” and, together with plaintiffs, the “Parties”), having applied pursuant to Delaware Court of Chancery Rule 23 for an order approving
the proposed settlement of the above-captioned consolidated class action (the “Consolidated Action”) and determining certain matters in connection with the proposed settlement of the Consolidiated Action (the “Settlement”) and
for dismissal of the Consolidated Action with prejudice, in accordance with the terms and conditions of the Stipulation and Agreement of Compromise, Settlement and Release entered into by the Parties and dated October 8, 2012 (with the exhibits
thereto, the “Stipulation”); 
 NOW, upon consent of the Parties, after review and consideration of the Stipulation
filed with the Delaware Court of Chancery (the “Court”) and the exhibits annexed thereto, and after due deliberation, 

 IT IS HEREBY ORDERED this
            day of             , 2012, that: 
 1. This Scheduling Order incorporates by reference the definitions in the Stipulation, and unless defined herein, capitalized words and terms shall have the same meaning as they have in the Stipulation.

 2. For purposes of the proposed Settlement only, and preliminarily for purposes of this Scheduling Order, the Consolidated
Action shall be maintained and proceed as a non opt-out class action pursuant to Delaware Court of Chancery Rules 23(a), 23(b)(1) and 23(b)(2), by plaintiffs Edward S. Gutman and Lawrence Corneck (“Plaintiffs”) as class representatives, on
behalf of the following class (the “Class”): record and beneficial holders of Revlon Class A Common Stock, their respective successors in interest, successors, predecessors in interest, predecessors, representatives, trustees,
executors, administrators, heirs, assigns or transferees, immediate and remote, and any person or entity acting for or on behalf of, or claiming under, any of them, and each of them, together with their predecessors and successors and assigns, who
held shares of Revlon Class A Common Stock at any time between and including August 10, 2009 and October 8, 2009, including, but not limited to, stockholders who tendered shares in the Exchange Offer, but excluding: (i) Fidelity
Management & Research Company (“FMR Co.”) and its investment advisory affiliates, all of which are direct or indirect subsidiaries of FMR LLC, which at the time of the Exchange Offer was the largest unaffiliated Revlon
stockholder; (ii) the following funds advised by FMR Co. or its investment advisory affiliates: (a) Fidelity Securities Fund: Leveraged Company Stock Fund; (b) Fidelity Advisor Series I: Advisor Leveraged Company Stock Fund; and
(c) Fidelity Advisor High Yield Portfolio; (iii) the following institutional client accounts or funds that are advised by an investment advisory affiliate of FMR Co.: (a) Fidelity Canadian Balanced Fund – High Yield Bond
Subaccount; (b) Pension Reserve 

  
 A-2

 
Investment Management Board of Massachusetts High Yield Bond Account; (c) General Motors Hourly-Rate Employees Pension Trust 7N1J (Successor In Interest); and (d) General Motors
Salaried Employees Pension Trust 7N1L (Successor In Interest); (iv) Archview Fund L.P (and its predecessor entity, Archview Credit Opportunities Fund L.P.); (v) Archview Master Fund Ltd. (and its predecessor entity, Archview Credit
Opportunities Master Fund Ltd.); and (vi) Defendants, any Revlon officers and directors identified in Revlon’s 2009 Annual Report who would otherwise be part of the class, and members of MacAndrews & Forbes management who
participated in the Exchange Offer. 
 3. A hearing shall be held on
            , 2012 at             .m., by the Court, in the Delaware Court of Chancery, New Castle County Courthouse, 500 North
King Street, Wilmington, Delaware 19801 (the “Settlement Hearing”) to: 
  

	 	i.	determine whether the Class as defined above should be certified; 

  

	 	ii.	determine whether the Settlement should be approved by the Court as fair, reasonable, adequate and in the best interests of the Class; 

 

	 	iii.	determine whether an Order and Final Judgment should be entered pursuant to the Stipulation, dismissing the Consolidated Action; 

 

	 	iv.	determine whether Plaintiffs and Delaware Lead Counsel have adequately represented the Class; 

 

	 	v.	consider Delaware Lead Counsel’s application for an award of attorneys’ fees and expenses on behalf of all plaintiffs’ counsel in the Actions as well as
any compensatory award for plaintiffs (the “Fee Application”); 

  

	 	vi.	consider any objections to the proposed Settlement or Fee Application; and 

 

	 	vii.	rule on such other matters as the Court may deem appropriate. 

  
 A-3

 4. The Court reserves the right to adjourn the Settlement Hearing or any adjournment
thereof, including the consideration of the Fee Application, without further notice of any kind to the Class other than oral announcement at the Settlement Hearing or any adjournment thereof. 

5. The Court reserves the right to approve the proposed Settlement at or after the Settlement Hearing with such modification(s) as may be
consented to by the Parties to the Stipulation and without further notice to the Class. 
 6. The Court approves, in form and
content, the Notice and Pendency of Class Action, Proposed Settlement of Class Action, Settlement Hearing and Right to Appear (the “Notice”) substantially in the form attached to the Stipulation as Exhibit B, which shall be mailed to all
stockholders of record at any time between and including August 10, 2009 and October 8, 2009, consistent with the Class definition in the manner set forth herein. 
 7. Within twenty (20) business days after the date of this Scheduling Order, Revlon shall cause a copy of the Notice to be mailed by first-class mail to all stockholders of record at any time between
and including August 10, 2009 and October 8, 2009, consistent with the Class definition at their last known address appearing in the stock transfer records maintained by or on behalf of Revlon. All record holders who were not the
beneficial holders of the shares of Revlon Class A Common Stock are directed to forward the Notice to the beneficial holders of those shares. Revlon shall use reasonable efforts to give notice to beneficial holders of Revlon’s Class A
Common Stock by making additional copies of the Notice available to any record holder who, prior to the Settlement Hearing, requests the same for distribution to beneficial holders. Revlon shall also file with the United States Securities and
Exchange Commission a Form 8-K 

  
 A-4

 
attaching a copy of the Notice and post the Notice on the Company’s website at www.revlon.com on the Investor Relations page, which can be accessed through the Corporate page, under
the heading “In re Revlon, Inc. Shareholders Litigation Class Action Settlement Notice.” A copy of the Form 8-K attaching the Notice will be available on Revlon’s website at www.revlon.com on the Investor Relations page,
which can be accessed through the Corporate page, under the heading “SEC Filings.” 
 8. Counsel for Revlon shall, at
least ten (10) business days prior to the Settlement Hearing described herein, file with the Court proof (by affidavit or declaration) of compliance with the Notice procedures set forth in Paragraph 7 above. 

9. The form and method of the Notice specified in this Scheduling Order: (i) constitutes the best notice practicable under the
circumstances to apprise members of the Class of the pendency of the Consolidated Action, the effect of the proposed Settlement (including the nature and scope of the releases contained therein) and their rights to object to the proposed Settlement
and appear at the Settlement Hearing; (ii) constitutes due, adequate and sufficient notice to all persons and entities entitled to receive notice of the Settlement; and (iii) satisfies the requirements of the United States Constitution
(including the Due Process Clause), Delaware Court of Chancery Rule 23 and all other applicable law and rules. 
 10. All
proceedings in the Consolidated Action, other than such proceedings as may be necessary to carry out the terms and conditions of the Settlement, are hereby stayed and suspended until further order of the Court. Pending final determination of whether
the Settlement should be approved, Plaintiffs, and all members of the Class, are barred and enjoined from commencing or prosecuting any action asserting either directly, representatively, derivatively or in any other capacity any Settled Claims (as
defined in the Stipulation). 

  
 A-5

 11. Any member of the Class who objects to the proposed Settlement, the Order and Final
Judgment to be entered in the Consolidated Action, and/or the Fee Application, or who otherwise wishes to be heard, may appear in person or by such member’s attorney at the Settlement Hearing and present evidence or argument that may be proper
and relevant; provided, however, that, except by Order of the Court for good cause shown, no person or entity shall be heard and no papers, briefs, pleadings or other documents submitted by any person or entity shall be considered by the
Court unless not later than ten (10) business days prior to the Settlement Hearing such person or entity files with the Register in Chancery and serves upon counsel listed below: (i) a written notice of intention to appear, identifying the
name, address and telephone number of the objector and, if represented, the objector’s counsel; (ii) a signed written statement by the objector of such objector’s objections to any matters before the Court; (iii) the grounds for
such objections and the reasons that such objector desires to appear and be heard; (iv) proof of membership in the Class, including a listing of all transactions in Revlon Class A Common Stock between and including August 10, 2009 and
October 8, 2009; and (v) all documents and writings such objector desires the Court to consider. Such filings shall be served upon the following counsel: 
  

			
		 	 Robert J. Katzenstein

David A. Jenkins
 Smith Katzenstein & Jenkins, LLP
 800 Delaware
Avenue
 Suite 1000

Wilmington, Delaware 19801

  

			
		 	 William Savitt

Wachtell, Lipton, Rosen & Katz

51 West 52nd Street

New York, New York 10019

  
 A-6

			
		 	 Thomas J. Allingham II
 Alyssa
S. O’Connell
 Skadden, Arps, Slate, Meagher & Flom LLP
 One Rodney Square
 P.O. Box 636
 Wilmington, Delaware 19899

		
		 	 Lawrence Zweifach
 Marshall R.
King
 Gibson, Dunn & Crutcher LLP
 200 Park Avenue, 47th Floor
 New York, New York 10166

 Such papers must also be filed with the Register in Chancery, Delaware Court of Chancery, 500 North King Street,
Wilmington, Delaware 19801. 
 12. Unless the Court otherwise directs, no person or entity shall be entitled to object to the
approval of the Settlement, any judgment entered thereon, the adequacy of the representation of the Class by Plaintiffs and Delaware Lead Counsel, any award of attorneys’ fees and expenses, or otherwise be heard, except by serving and filing a
written objection and supporting papers and documents as described in Paragraph 11 above. Any person or entity who fails to object in the manner described above shall be deemed to have waived the right to object (including any right of appeal) and
shall be forever barred from raising such objection in the Consolidated Action or any other action or proceeding. 
 13. The
Parties shall file any papers, including memoranda or briefs, in response to any objections no later than five (5) business days prior to the Settlement Hearing. 
 14. Delaware Lead Counsel shall file and serve papers in support of approval of the proposed Settlement and their Fee Application no later than twenty (20) business days prior to the Settlement
Hearing, with any objections by Defendants to the Fee 

  
 A-7

 
Application filed and served no later than ten (10) business days prior to the Settlement Hearing; if reply papers are necessary, they are to be filed and served no later than three
(3) business days prior to the Settlement Hearing. 
 15. If the Court approves the proposed Settlement provided for in the
Stipulation following the Settlement Hearing, the Order and Final Judgment shall be entered substantially in the form attached to the Stipulation as Exhibit C. 
 16. If the Settlement, including any amendment made in accordance with the Stipulation, is not approved by the Court or shall not become effective for any reason whatsoever, the Settlement (including any
modification thereof made with the consent of the Parties as provided for in the Stipulation) and temporary Class certification herein and any actions taken or to be taken in connection therewith (including this Scheduling Order and any judgment
entered herein) shall be terminated and shall become void and of no further force and effect, except for the obligation of Revlon to pay for any expenses incurred in connection with the Notice and administration provided for by this Scheduling
Order. 
 17. Neither the Stipulation, nor any provision contained in the Stipulation, nor any action undertaken pursuant
thereto, nor the negotiation thereof by any party shall be deemed an admission or received as evidence in the Consolidated Action or any other action or proceeding. 
 18. The Court may, for good cause, extend any of the deadlines set forth in this Scheduling Order without further notice to the members of the Class. 

 

	
	  

	 Vice Chancellor Laster

  
 A-8

 Exhibit B 
 IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE 
  

			
	 IN RE REVLON, INC.

SHAREHOLDERS LITIGATION
	  	Consol. C.A. No. 4578-VCL

 NOTICE OF PENDENCY OF CLASS ACTION, PROPOSED 

SETTLEMENT OF CLASS ACTION, SETTLEMENT HEARING 
 AND RIGHT TO APPEAR 
  

	TO:	RECORD AND BENEFICIAL HOLDERS OF REVLON, INC. (“REVLON” OR THE “COMPANY”) CLASS A COMMON STOCK, THEIR RESPECTIVE SUCCESSORS IN INTEREST,
SUCCESSORS, PREDECESSORS IN INTEREST, PREDECESSORS, REPRESENTATIVES, TRUSTEES, EXECUTORS, ADMINISTRATORS, HEIRS, ASSIGNS OR TRANSFEREES, IMMEDIATE AND REMOTE, AND ANY PERSON OR ENTITY ACTING FOR OR ON BEHALF OF, OR CLAIMING UNDER, ANY OF THEM, AND
EACH OF THEM, TOGETHER WITH THEIR PREDECESSORS AND SUCCESSORS AND ASSIGNS, WHO HELD SHARES OF REVLON CLASS A COMMON STOCK AT ANY TIME BETWEEN AND INCLUDING AUGUST 10, 2009 AND OCTOBER 8, 2009, INCLUDING, BUT NOT LIMITED TO,
STOCKHOLDERS WHO TENDERED SHARES IN THE EXCHANGE OFFER (AS DEFINED BELOW), BUT EXCLUDING: (i) FIDELITY MANAGEMENT & RESEARCH COMPANY (“FMR CO.”) AND ITS INVESTMENT ADVISORY AFFILIATES, ALL OF WHICH ARE DIRECT OR INDIRECT
SUBSIDIARIES OF FMR LLC, WHICH AT THE TIME OF THE EXCHANGE OFFER WAS THE LARGEST UNAFFILIATED REVLON STOCKHOLDER; (ii) THE FOLLOWING FUNDS ADVISED BY FMR CO. OR ITS INVESTMENT ADVISORY AFFILIATES: (a) FIDELITY SECURITIES FUND: LEVERAGED
COMPANY STOCK FUND; (b) FIDELITY ADVISOR SERIES I: ADVISOR LEVERAGED COMPANY STOCK FUND; AND (c) FIDELITY ADVISOR HIGH YIELD PORTFOLIO; (iii) THE FOLLOWING INSTITUTIONAL CLIENT ACCOUNTS OR FUNDS THAT ARE ADVISED BY AN INVESTMENT
ADVISORY AFFILIATE OF FMR CO.: (a) FIDELITY CANADIAN BALANCED FUND – HIGH YIELD BOND SUBACCOUNT; (b) PENSION RESERVE INVESTMENT MANAGEMENT BOARD OF MASSACHUSETTS HIGH YIELD BOND ACCOUNT; (c) GENERAL MOTORS HOURLY-RATE EMPLOYEES
PENSION TRUST 7N1J (SUCCESSOR IN INTEREST); AND (d) GENERAL MOTORS SALARIED EMPLOYEES PENSION TRUST 7N1L (SUCCESSOR IN INTEREST); (iv) ARCHVIEW FUND L.P (AND ITS PREDECESSOR ENTITY, ARCHVIEW CREDIT OPPORTUNITIES FUND L.P.);
(v) ARCHVIEW MASTER FUND LTD. (AND ITS PREDECESSOR ENTITY, ARCHVIEW CREDIT OPPORTUNITIES MASTER FUND LTD.); AND (vi) DEFENDANTS (AS DEFINED BELOW), ANY REVLON OFFICERS AND DIRECTORS IDENTIFIED IN REVLON’S 2009 ANNUAL REPORT WHO WOULD
OTHERWISE BE PART OF THE CLASS, AND MEMBERS OF MACANDREWS & FORBES (AS DEFINED BELOW) MANAGEMENT WHO PARTICIPATED IN THE EXCHANGE OFFER (AS DEFINED BELOW) (THE “CLASS”). 

 PLEASE READ THIS NOTICE CAREFULLY AND IN ITS ENTIRETY. THIS NOTICE RELATES TO A PROPOSED
SETTLEMENT OF THE CONSOLIDATED ACTION (AS DEFINED BELOW) REFERRED TO IN THE CAPTION ABOVE AND CONTAINS IMPORTANT INFORMATION. YOUR RIGHTS WILL BE AFFECTED BY THESE LEGAL PROCEEDINGS IN THIS LITIGATION. IF THE COURT (AS DEFINED BELOW) APPROVES THE
PROPOSED SETTLEMENT DESCRIBED BELOW, YOU WILL BE FOREVER BARRED FROM CONTESTING THE FAIRNESS OF THE PROPOSED SETTLEMENT, OR PURSUING THE SETTLED CLAIMS (AS DEFINED BELOW) AGAINST THE RELEASED PERSONS (AS DEFINED BELOW). COURT APPROVAL OF THE
SETTLEMENT WILL ALSO RESOLVE SIMILAR CLAIMS IN RELATED CLASS ACTIONS CAPTIONED GAROFALO v. REVLON, INC., ET AL., C.A. NO. 1:09-CV-01008-GMS (D. DEL.) AND SULLIVAN v. PERELMAN, ET AL., NO. 650257/2009 (N.Y. SUP.
CT.). 
 IN ADDITION TO THE PROPOSED SETTLEMENT OF THE CONSOLIDATED ACTION (AS DEFINED BELOW) CAPTIONED ABOVE, REVLON WILL ISSUE
OR HAS ISSUED A SEPARATE NOTICE ABOUT THE PROPOSED SETTLEMENT OF A RELATED DERIVATIVE ACTION CAPTIONED SMUTEK v. PERELMAN, ET AL., NO. 1:10-CV-00392-GMS (D. DEL.). THAT NOTICE WILL BE OR HAS BEEN POSTED ON REVLON’S WEBSITE AT
WWW.REVLON.COM ON THE INVESTOR RELATIONS PAGE, WHICH CAN BE ACCESSSED THROUGH THE CORPORATE PAGE, UNDER THE HEADING “SMUTEK DERIVATIVE ACTION SETTLEMENT NOTICE.” THAT NOTICE WILL ALSO BE OR HAS BEEN ATTACHED TO A FORM 8-K
FILED WITH THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION, AND WILL BE AVAILABLE ON REVLON’S WEBSITE AT WWW.REVLON.COM ON THE INVESTOR RELATIONS PAGE, WHICH CAN BE ACCESSED THROUGH THE CORPORATE PAGE, UNDER THE HEADING “SEC
FILINGS.” 

  
 B-2

 IF YOU WERE NOT THE BENEFICIAL HOLDER OF CLASS A COMMON STOCK OF REVLON, BUT HELD SUCH STOCK
FOR A BENEFICIAL HOLDER, READ THE SECTION BELOW ENTITLED “NOTICE TO PERSONS OR ENTITIES THAT HELD ON BEHALF OF OTHERS.” 
 The purpose of this Notice is to inform you of a proposed settlement (the “Settlement”) of the above-captioned Consolidated Action (as defined below) pending before Vice Chancellor J. Travis
Laster in the Delaware Court of Chancery (the “Court” or the “Delaware Chancery Court”). This Notice also informs you of the Court’s preliminary certification of the Class for purposes of the proposed Settlement, and of your
right to participate in a hearing to be held before the Court, in the Delaware Court of Chancery, New Castle County Courthouse, 500 North King Street, Wilmington, Delaware 19801 on
            , 2012 at         .m. (the “Settlement Hearing”). 
 The Court has determined for purposes of the proposed Settlement only that the Consolidated Action shall be preliminarily maintained as a non opt-out class action under Court of Chancery Rules 23(a),
23(b)(1), and 23(b)(2), by plaintiffs Edward S. Gutman and Lawrence Corneck (“Plaintiffs”) as Class representatives, on behalf of the Class. 
 The purpose of the Settlement Hearing is to: (i) determine whether the Class as defined above should be certified; (ii) determine whether the Settlement should be approved by the Court as fair,
reasonable, adequate and in the best interests of the Class; (iii) determine whether an Order and Final Judgment should be entered pursuant to the Stipulation (as defined below), dismissing the Consolidated Action (as defined below);
(iv) determine whether Plaintiffs and Delaware Lead Counsel (as identified below) have adequately represented the Class; (v) consider Delaware Lead Counsel’s application for an award of attorneys’ fees and expenses on behalf of
all plaintiffs’ counsel in the Actions (as defined below) as well as any compensatory award for plaintiffs (the “Fee Application”); (vi) consider any objections to the proposed Settlement or Fee Application; and (vii) rule
on such other matters as the Court may deem appropriate. 

  
 B-3

 If you are a member of the Class, this Notice will inform you of how, if you so choose, you
may enter your appearance in the Consolidated Action (as defined below) or object to the proposed Settlement or Fee Application and have your objection heard at the Settlement Hearing. 

THE FOLLOWING RECITATION DOES NOT CONSTITUTE FINDINGS OF THE COURT AND SHOULD NOT BE UNDERSTOOD AS AN EXPRESSION OF ANY OPINION OF THE
COURT AS TO THE MERITS OF ANY CLAIMS OR DEFENSES BY ANY OF THE PARTIES. IT IS BASED ON STATEMENTS OF THE PARTIES AND IS SENT FOR THE SOLE PURPOSE OF INFORMING YOU OF THE EXISTENCE OF THE CONSOLIDATED ACTION AND OF A HEARING ON A PROPOSED SETTLEMENT
SO THAT YOU MAY MAKE APPROPRIATE DECISIONS AS TO STEPS YOU MAY, OR MAY NOT, WISH TO TAKE IN RELATION TO THE CONSOLIDATED ACTION. 
 Background and Description of the Consolidated Action 
 On
April 20, 2009, Revlon announced that MacAndrews & Forbes Holdings Inc. (“MacAndrews & Forbes”) proposed a merger transaction (the “Proposal”). 

On April 24, 2009, plaintiff Vern Mercier filed a verified complaint against Ronald O. Perelman, Barry F. Schwartz, David L.
Kennedy, Alan T. Ennis, Alan S. Bernikow, Paul J. Bohan, Meyer Feldberg, Ann D. Jordan, Debra L. Lee, Tamara Mellon, Kathi P. Seifert, Revlon, MacAndrews & Forbes (collectively, “Defendants”), and now-former Revlon director
Kenneth L. Wolfe (“Wolfe”) on behalf of a putative class of Revlon’s stockholders in the Delaware Chancery Court captioned Mercier v. Perelman, et al., C.A. No. 4532-VCL (Del. Ch.) (the “Mercier Action”).

 On May 1, 2009, plaintiff Arthur Jurkowitz filed a verified complaint against Defendants and Wolfe on behalf of a
putative class of Revlon’s stockholders in the Delaware Chancery Court, captioned Jurkowitz v. Perelman, et al., C.A. No. 4557-VCL (Del. Ch.) (the “Jurkowitz Action”). 

  
 B-4

 On May 4, 2009, plaintiff Stanley S. Sullivan filed a complaint against Defendants and
Wolfe on behalf of a putative class of Revlon’s stockholders in the New York State Supreme Court, captioned Sullivan v. Perelman, et al., No. 650257/2009 (N.Y. Sup. Ct.) (the “Sullivan Action”). 

Wolfe was later dismissed by plaintiff Stanley S. Sullivan from the Sullivan Action. 

On May 5, 2009, plaintiff Suri Lefkowitz filed a verified complaint against Defendants and Wolfe on behalf of a putative class of
Revlon’s stockholders in the Delaware Chancery Court, captioned Lefkowitz v. Revlon, Inc., et al., C.A. No. 4563-VCL (Del. Ch.) (the “Lefkowitz Action”). 

On May 12, 2009, plaintiff T. Walter Heiser filed a verified complaint against Defendants and Wolfe on behalf of a putative class of
Revlon’s stockholders in the Delaware Chancery Court, captioned Heiser v. Revlon, Inc., et al., C.A. No. 4578-VCL (Del. Ch.) (the “Heiser Action”). 

The Mercier Action, Jurkowitz Action, Lefkowitz Action and Heiser Action challenged the Proposal
(collectively, the “Initial Delaware Actions”). 
 The Sullivan Action also challenged the Proposal.

 On June 24, 2009, the Initial Delaware Actions were consolidated under the caption In re Revlon, Inc. Shareholders
Litigation, C.A. No. 4578-VCL (Del. Ch.). 
 On August 10, 2009, the Company launched a voluntary exchange offer
(the “Exchange Offer”). 
 Following amendments to the terms of the Exchange Offer, the final date on which tenders of
Revlon Class A Common Stock could be made was October 7, 2009. 
 On October 8, 2009, the Company consummated the
Exchange Offer. 

  
 B-5

 Pursuant to the Exchange Offer, Revlon issued to stockholders who elected to tender shares
into the Exchange Offer 9,336,905 shares of its newly issued Series A Preferred Stock in exchange for the same number of shares of Revlon Class A Common Stock tendered in the Exchange Offer. 

On October 29, 2009, Revlon announced its third quarter results for the fiscal quarter ended September 30, 2009. 

On December 21, 2009, plaintiff Edward S. Gutman filed a verified complaint on behalf of a putative class of Revlon’s
stockholders in the Delaware Chancery Court captioned Gutman v. Perelman, et al., C.A. No. 5158-VCL (Del. Ch.) (the “Gutman Action”). 
 On December 21, 2009, plaintiff Lawrence Corneck filed a verified complaint on behalf of a putative class of Revlon’s stockholders in the Delaware Chancery Court captioned Corneck v.
Perelman, et al., C.A. No. 5160-VCL (Del. Ch.) (the “Corneck Action”). 
 The Gutman Action and
the Corneck Action alleged breach of fiduciary duty claims in connection with the Exchange Offer and alleged that information regarding the Company’s financial results for the third quarter 2009 should have been disclosed in the Exchange
Offer materials. 
 On December 24, 2009, an amended complaint was filed in the Sullivan Action on behalf of
stockholders that participated in the Exchange Offer, alleging, among other things, that information regarding the Company’s financial results for the third quarter 2009 should have been disclosed in the Exchange Offer materials. 

On December 31, 2009, plaintiff John Garofalo filed a putative class action complaint on behalf of stockholders
that participated in the Exchange Offer against Defendants1 in the United 

 

	1 	 Wolfe was initially named as a defendant in the Garofalo Action, but was later dismissed.

  
 B-6

 
States District Court for the District of Delaware (the “Delaware District Court”) captioned Garofalo v. Revlon, Inc., et al., C.A. No. 1:09-cv-01008-GMS (D. Del.) (the
“Garofalo Action”), alleging federal and state law claims in connection with the Exchange Offer and alleging that information regarding the Company’s financial results for the third quarter 2009 should have been disclosed in
the Exchange Offer materials. 
 On January 6, 2010, an amended complaint was filed in the Initial Delaware Actions against
Defendants and Wolfe, making allegations similar to those contained in the amended Sullivan Action complaint. 
 On
January 15, 2010, the Delaware Chancery Court consolidated the Gutman Action and Corneck Action with the previously consolidated Initial Delaware Actions (the Initial Delaware Actions, Gutman Action and Corneck
Action, collectively, are hereafter referred to as the “Consolidated Action”). 
 On March 16, 2010, the Delaware
Chancery Court changed the leadership structure for plaintiffs in the Consolidated Action, appointing Smith Katzenstein & Furlow, LLP (now Smith Katzenstein & Jenkins, LLP), Harwood Feffer LLP, and the Law Offices of Curtis V.
Trinko, LLP as lead counsel for plaintiffs in the Consolidated Action (“Delaware Lead Counsel”). 
 On March 16,
2010, the Delaware District Court appointed Berger & Montague, P.C. as lead counsel in the Garofalo Action. 

On May 11, 2010, Richard Smutek, on behalf of Revlon, filed a derivative complaint against Defendants (in which Revlon was named as
a nominal defendant) and current Revlon director Richard J. Santagati (“Santagati”) in the Delaware District Court captioned Smutek v. Perelman, et al., No. 1:10-CV-00392-GMS (D. Del.) (the “Smutek Action”), in
connection with the Exchange Offer and the alleged failure to disclose information in the Exchange Offer materials regarding the Company’s financial results for the third quarter 2009. 

  
 B-7

 Plaintiff Richard Smutek later filed a voluntary dismissal of Santagati from the
Smutek Action. 
 The complaint in the Smutek Action alleged, among other things, that
Defendants’ alleged misconduct with respect to the Exchange Offer exposed Revlon to litigation such as the Garofalo Action, Gutman Action and Corneck Action, and potential damages
arising therefrom. 
 On May 25, 2010, an amended complaint was filed in the Consolidated Action alleging breach of
fiduciary duty claims in connection with the Exchange Offer and claiming that information regarding the Company’s financial results for the third quarter 2009 should have been disclosed in the Exchange Offer materials. 

Wolfe was not named as a defendant in the amended complaint filed in the Consolidated Action. 

The amended complaint in the Consolidated Action was brought on behalf of both stockholders who participated in the Exchange Offer and
stockholders who did not participate in the Exchange Offer. 
 On July 9, 2010, Defendants answered the amended complaint
in the Consolidated Action. 
 On August 16, 2010, Defendants moved to dismiss the complaint in the Smutek Action.

 Defendants’ motions to dismiss the complaint in the Smutek Action are fully briefed and currently pending.

 On July 29, 2011, an amended complaint was filed in the Garofalo Action. 

Wolfe was not named as a defendant in the amended complaint filed in the Garofalo Action. 

On January 10, 2012, Delaware Lead Counsel filed a motion for class certification, seeking certification of two subclasses: one
subclass of stockholders who participated in the Exchange Offer and another subclass of stockholders who did not participate in the Exchange Offer. 

  
 B-9

 On January 31, 2012, Defendants filed motions to dismiss the amended complaint in the
Garofalo Action. 
 On March 2, 2012, the plaintiff in the Garofalo Action filed a response opposing
Defendants’ motions to dismiss, and a motion alternatively seeking leave to amend and file a second amended complaint. 

The motions to dismiss and amend in the Garofalo Action are fully briefed and currently pending. 

Merits discovery is proceeding in the Consolidated Action. 
 By agreement of the parties, the plaintiff in the Garofalo Action has participated in the merits discovery proceeding in the Consolidated Action, and the plaintiff in the Sullivan Action had
the opportunity to participate. 
 Defendants have produced tens of thousands of documents as part of merits discovery.

 Delaware Lead Counsel has produced documents on behalf of Plaintiffs in the Consolidated Action. 

Numerous third parties have been subpoenaed and produced documents as part of merits discovery. 

Two representatives of Barclays Capital Inc., Revlon directors Debra L. Lee and Meyer Feldberg, and Wolfe have been deposed. 

Defendants deposed proposed class representatives Plaintiffs Edward S. Gutman and Lawrence Corneck. 

  
 B-9

 On December 6, 2010, Delaware Lead Counsel retained and thereafter consulted regularly
with a financial advisor, who evaluated the claims asserted in the Actions (as defined below) and the potential settlement. 

Beginning in September 2011 and continuing from time to time thereafter, Delaware Lead Counsel and counsel for Defendants discussed a
potential resolution of the Consolidated Action. 
 In April 2012, an in-person meeting to discuss settlement of the
Consolidated Action took place among multiple attorneys for plaintiffs in the Consolidated Action and multiple attorneys for Defendants. 
 On June 21, 2012 and July 17, 2012, Defendants reached agreements to settle claims in connection with the Exchange Offer directly with the following stockholders that had participated in the
Exchange Offer and were members of the putative class on whose behalf the Actions (as defined below) have been brought: (i) FMR Co. and its investment advisory affiliates, all of which are direct or indirect subsidiaries of FMR LLC, which at
the time of the Exchange Offer was the largest unaffiliated Revlon stockholder; (ii) the following funds advised by FMR Co. or its investment advisory affiliates: (a) Fidelity Securities Fund: Leveraged Company Stock Fund;
(b) Fidelity Advisor Series I: Advisor Leveraged Company Stock Fund; and (c) Fidelity Advisor High Yield Portfolio; (iii) the following institutional client accounts or funds that are advised by an investment advisory affiliate of FMR
Co.: (a) Fidelity Canadian Balanced Fund – High Yield Bond Subaccount; (b) Pension Reserve Investment Management Board of Massachusetts High Yield Bond Account; (c) General Motors Hourly-Rate Employees Pension Trust 7N1J
(Successor In Interest); and (d) General Motors Salaried Employees Pension Trust 7N1L (Successor In Interest) (the entities listed in subsections (i) – (iii) are collectively referred to as “Fidelity,” and the agreement
to settle claims with Fidelity is collectively referred 

  
 B-10

 
to as the “Fidelity Settlement”); (iv) Archview Fund L.P (and its predecessor entity, Archview Credit Opportunities Fund L.P.); and (v) Archview Master Fund Ltd. (and its
predecessor entity, Archview Credit Opportunities Master Fund Ltd.) (the entities listed in subsections (iv) – (v) are collectively referred to as “Archview,” and the agreement to settle claims with Archview is collectively
referred to as the “Archview Settlement”). 
 At the end of June, Delaware Lead Counsel and counsel for Defendants
commenced more intensive settlement discussions. 
 In July 2012, counsel in the Garofalo Action separately initiated
settlement discussions with counsel for Defendants, to which counsel for Defendants did not respond substantively. 
 In July
2012 and August 2012, Delaware Lead Counsel negotiated with counsel for plaintiffs in the Sullivan Action, Garofalo Action and Smutek Action concerning a potential resolution of their actions. 

On August 10, 2012, at the conclusion of the negotiations between counsel for Defendants and Delaware Lead Counsel, the parties to
all the actions identified above reached a comprehensive agreement in principle providing for the settlement of the actions. 

Those extensive negotiations and discussions led to the execution of a Stipulation and Agreement of Compromise, Settlement and Release
(with the exhibits thereto, the “Stipulation”) on October 8, 2012 for the settlement of the Consolidated Action, Sullivan Action and Garofalo Action (collectively, the “Actions”), and the execution of a
stipulation to be filed with the Delaware District Court for the settlement of the Smutek Action. 
 In deciding to
pursue a settlement, Delaware Lead Counsel specifically evaluated the claims brought on behalf of stockholders who did not participate in the Exchange Offer, and concluded, after discussion with their financial advisor, that stockholders who did not
participate in the Exchange Offer were not damaged as a result of the Exchange Offer. 

  
 B-11

 Counsel for plaintiff in the Garofalo Action have represented that they performed a
damages analysis with their in-house expert, who evaluated the tendering stockholders’ claims asserted in the Actions and the potential settlement. 
 On             , the Court entered a scheduling order providing for, among other things, the scheduling of the Settlement Hearing; the temporary
certification, for settlement purposes only, of the non opt-out Class; a stay of the Consolidated Action pending a hearing on the proposed Settlement; and an injunction against the commencement or prosecution of any action by any member of the Class
asserting any of the Settled Claims (as defined below) subject to the Settlement of the Consolidated Action. 
 Reasons for
the Settlement 
 Plaintiffs and Delaware Lead Counsel have concluded that a settlement of the Settled Claims (as
defined below), based upon the terms contained in the Stipulation, is preferable to continued litigation. On the basis of information available to them, including publicly available information, the discovery described herein, and consultations with
independent financial advisors, and, in consideration of the strengths and weaknesses of their claims, Delaware Lead Counsel has determined that the Settlement described herein is fair, reasonable, adequate and in the best interests of the Class.

 Each of the Defendants has denied, and continues to deny, all allegations of wrongdoing, fault, liability or damage to
Plaintiffs and the Class and otherwise deny that they engaged in any wrongdoing or committed any violation of law or breach of duty and believe that they acted properly at all times, but wish to settle the Consolidated Action on the terms and
conditions stated in the Stipulation in order to eliminate the burden and expense of further litigation and to put the Settled Claims (as defined below) to be released to rest finally and forever. 

  
 B-12

 Settlement Terms 

In consideration for the full settlement and release of all Settled Claims (as defined below) against all Released Persons (as defined
below) and the dismissal with prejudice of the Actions, Defendants will cause to be paid to the Class a total settlement payment of $9,231,303 (the “Settlement Payment”), which shall be deposited into an account to be designated by
Delaware Lead Counsel within ten (10) business days of the Effective Date (as defined below). 
 1,678,834 shares of
Class A Common Stock were tendered into the Exchange Offer by members of the Class. If you participated in the Exchange Offer, you are entitled to a financial award, which would be paid out of the Settlement Payment. The Settlement Payment,
less any court-approved fees, expenses and compensatory awards, will be distributed pro rata to the 1,678,834 shares. Thus, to estimate your recovery, you will need to divide the number of shares you tendered by the total number of shares tendered
by the Class members (1,678,834), and multiply the result by the Settlement Payment, net of fees, expenses and compensatory awards. If you did not participate in the Exchange Offer, you are not entitled to a financial award from the Settlement
Payment. 
 The Settlement is conditioned upon, and effective upon, the fulfillment of each of the following (the
“Effective Date”): 
 (i) the Settlement becoming final (“Final Approval”) upon the completion of:
(a) negotiation and execution of the Stipulation and any related documentation; (b) approval of the Settlement, entry of the Order and Final Judgment, and dismissal with prejudice of the Consolidated Action in substantially the form
attached to the Stipulation, without the award of any damages, costs, or fees, except as specifically provided in the Stipulation and approved by the Delaware Chancery Court; (c) the inclusion in the Order and Final Judgment of a provision
enjoining all members of the Class (which includes plaintiffs in the Sullivan Action and Garofalo Action) from asserting any of the Settled Claims (as defined below); and (d) such Order and Final Judgment is either finally
affirmed on appeal, or is not subject to appeal (or further appeal) by lapse of time or otherwise; 

  
 B-13

 (ii) dismissal with prejudice of the Sullivan Action and Garofalo Action,
which dismissals are finally affirmed on appeal, or are not subject to appeal (or further appeal) by lapse of time or otherwise; and 
 (iii) negotiation and execution of the settlement stipulation in the Smutek Action and any related documentation, approval of the settlement in the Smutek Action by the Delaware District
Court, entry of an order and final judgment in the Smutek Action, which order and final judgment is either finally affirmed on appeal, or is not subject to appeal (or further appeal) by lapse of time or otherwise, and dismissal with prejudice
of the Smutek Action. 
 The Settlement Hearing 

The Settlement Hearing shall be held on             , 2012 at
        .m., by the Court in the Delaware Court of Chancery, New Castle County Courthouse, 500 North King Street, Wilmington, Delaware 19801 to: (i) determine whether the Class as defined above should be
certified; (ii) determine whether the Settlement should be approved by the Court as fair, reasonable, adequate and in the best interests of the Class; (iii) determine whether an Order and Final Judgment should be entered pursuant to the
Stipulation, dismissing the Consolidated Action; (iv) determine whether Plaintiffs and Delaware Lead Counsel have adequately represented the Class; (v) consider the Fee Application; (vi) consider any objections to the proposed
Settlement or Fee Application; and (vii) rule on such other matters as the Court may deem appropriate. 

  
 B-14

 The Court has reserved the right to adjourn the Settlement Hearing or any adjournment
thereof, including the consideration of the Fee Application, without further notice of any kind other than oral announcement at the Settlement Hearing or any adjournment thereof. 

The Court has reserved the right to approve the proposed Settlement at or after the Settlement Hearing with such modification(s) as may
be consented to by the parties to the Stipulation and without further notice to the Class. 
 Right To Appear and Object

 Any member of the Class who objects to the proposed Settlement, the Order and Final Judgment to be entered in the
Consolidated Action, and/or the Fee Application, or who otherwise wishes to be heard, may appear in person or by such member’s attorney at the Settlement Hearing and present evidence or argument that may be proper and relevant; provided,
however, that, except by Order of the Court for good cause shown, no person or entity shall be heard and no papers, briefs, pleadings or other documents submitted by any person or entity shall be considered by the Court unless not later than ten
(10) business days prior to the Settlement Hearing such person or entity files with the Register in Chancery and serves upon counsel listed below: (i) a written notice of intention to appear, identifying the name, address and telephone
number of the objector and, if represented, the objector’s counsel; (ii) a signed written statement by the objector of such objector’s objections to any matters before the Court; (iii) the grounds for such objections and the
reasons that such objector desires to appear and be heard; (iv) proof of membership in the Class, including a listing of all transactions in Revlon Class A Common Stock between and including August 10, 2009 and October 8, 2009;
and (v) all documents and writings such objector desires the Court to consider. Such filings shall be served upon the following counsel: 
 Robert J. Katzenstein 
 David A. Jenkins 

  
 B-15

 Smith Katzenstein & Jenkins, LLP 

800 Delaware Avenue 
 Suite 1000 
 Wilmington, Delaware 19801 

William Savitt 

Wachtell, Lipton, Rosen & Katz 
 51 West 52nd Street 
 New York, New York 10019 

Thomas J. Allingham II 
 Alyssa S. O’Connell 
 Skadden, Arps, Slate, Meagher & Flom LLP

 One Rodney Square 
 P.O. Box 636 
 Wilmington, Delaware 19899 

Lawrence Zweifach 
 Marshall R. King 
 Gibson, Dunn & Crutcher LLP 

200 Park Avenue, 47th Floor 
 New York, New York 10166 
 Such papers must also be filed with the Register in Chancery, Delaware
Court of Chancery, 500 North King Street, Wilmington, Delaware 19801. 
 Unless the Court otherwise directs, no person or entity
shall be entitled to object to the approval of the Settlement, any judgment entered thereon, the adequacy of the representation of the Class by Plaintiffs and Delaware Lead Counsel, any award of attorneys’ fees and expenses, or otherwise be
heard, except by serving and filing a written objection and supporting papers and documents as prescribed above. Any person or entity who fails to object in the manner described above shall be deemed to have waived the right to object (including any
right of appeal) and shall be forever barred from raising such objection in the Consolidated Action or any other action or proceeding. Any member of the Class who does not object to the Settlement or the request by Delaware Lead Counsel for an award
of attorneys’ fees and expenses (as described below) or to any other matter stated above need not do anything. 

  
 B-16

 The Order and Final Judgment 

If the Court determines that the Settlement, as provided for in the Stipulation, is fair, reasonable, adequate and in the best interests
of the Class, the parties to the Consolidated Action will ask the Court to enter the Order and Final Judgment, which will, among other things: 
  

	 	i.	approve the Settlement as fair, reasonable, adequate and in the best interests of the Class and direct consummation of the Settlement in accordance with its terms and
conditions; 

  

	 	ii.	certify the Class as a non opt-out class pursuant to Delaware Court of Chancery Rules 23(a), 23(b)(1) and 23(b)(2) and designate Plaintiffs in the Consolidated Action
as the Class representatives with Delaware Lead Counsel as Class counsel; 

  

	 	iii.	determine that the requirements of the rules of the Court and due process have been satisfied in connection with this Notice; 

 

	 	iv.	dismiss the Consolidated Action with prejudice on the merits and grant the releases more fully described below in accordance with the terms and conditions of the
Stipulation; 

  

	 	v.	permanently bar and enjoin Plaintiffs and all members of the Class from instituting, commencing or prosecuting any of the Settled Claims (as defined below against any
of the Released Persons (as defined below); and 

  

	 	vi.	award attorneys’ fees and expenses to Delaware Lead Counsel in the Consolidated Action on behalf of all plaintiffs’ counsel in the Actions.

  
 B-17

 Releases 

The parties have submitted the Settlement to the Court for approval. The Stipulation provides that upon approval of the Settlement and in
consideration of the benefits provided by the Settlement: 
 (i) The Order and Final Judgment shall, among other things, provide
for the full and complete dismissal of the Consolidated Action with prejudice, and the settlement and release of, and a permanent injunction barring, any claims, demands, rights, actions, causes of action, liabilities, damages, losses, obligations,
judgments, duties, suits, costs, expenses, matters and issues, known or unknown, contingent or absolute, suspected or unsuspected, disclosed or undisclosed, liquidated or unliquidated, matured or unmatured, accrued or unaccrued, apparent or
unapparent, that have been, could have been, or in the future can or might be asserted in any court, tribunal or proceeding (including, but not limited to, any claims arising under federal, state, foreign or common law, including the federal
securities laws and any state disclosure law), by or on behalf of plaintiffs in the Consolidated Action or any member of the Class, whether individual, direct, class, derivative (on behalf of Revlon or otherwise), representative, legal, equitable,
or any other type or in any other capacity (collectively, the “Releasing Persons”) against Defendants, Wolfe, Santagati, or any of their respective families, parent entities, controlling persons, associates, affiliates or subsidiaries and
each and all of their respective past or present officers, directors, stockholders, principals, representatives, employees, attorneys, financial or investment advisors, consultants, accountants, investment bankers, commercial bankers, entities
providing fairness opinions, underwriters, advisors or agents, heirs, executors, trustees, general or limited partners or partnerships, limited liability companies, members, joint ventures, personal or legal representatives, estates, administrators,
predecessors, successors and assigns (collectively, the “Released Persons”) which the Releasing Persons ever had, now have, or may have by reason of, arising out of, relating to, or in connection with the acts, events, facts, matters,
transactions, occurrences, statements, or representations, or any other matter whatsoever set forth in or otherwise related, directly or indirectly, to the allegations in the Actions, the complaints and amended complaints in the Actions, the
Proposal, the Exchange Offer and other transactions 

  
 B-18

 
contemplated therein, disclosures made in connection therewith (including the adequacy and completeness of such disclosures), any disclosure of the Company’s actual, projected or estimated
financial results for the third quarter 2009, or any other disclosure made by Revlon from the date of the Proposal through the date Revlon announced its financial results for the third quarter 2009 (including the adequacy and completeness of such
disclosures) (the “Settled Claims”); provided, however, that the Settled Claims shall not release any claims to enforce the Settlement. 
 (ii) The Order and Final Judgment shall bar and release any and all claims, known or unknown, for damages, injunctive relief, or any other remedies against plaintiffs in the Consolidated Action or any
member of the Class, their attorneys or agents based upon, arising from, or related to prosecution and/or settlement of the Actions. 
 (iii) These releases shall extend to all claims that Releasing Persons do not know or suspect to exist at the time of the release of the Settled Claims, which, if known, might have affected the Releasing
Persons’ decisions to enter into the releases or the Settlement. Additionally, plaintiffs in the Actions acknowledge, and the members of the Class by operation of law shall be deemed to have acknowledged, that they may discover facts in
addition to or different from those now known or believed to be true by them with respect to the Settled Claims, but that it is the intention of plaintiffs in the Actions, and by operation of law the intention of the members of the Class, to
completely, fully, finally and forever compromise, settle, release, discharge, extinguish, and dismiss any and all Settled Claims, known or unknown, suspected or unsuspected, contingent or absolute, accrued or unaccrued, apparent or unapparent,
which now exist, or heretofore existed, or may hereafter exist, and without regard to the subsequent discovery of additional or different facts. Plaintiffs in the Actions acknowledge, and the members of the Class by operation of law shall be deemed
to have acknowledged, that 

  
 B-19

 
“Unknown Claims” are expressly included in the definition of “Settled Claims,” and that such inclusion was expressly bargained for and was a key element of the Settlement and
was relied upon by each and all of the Released Persons in entering into the Stipulation. “Unknown Claims” means any claim that plaintiffs in the Actions or any member of the Class does not know or suspect exists in his, her or its favor
at the time of the release of the Settled Claims as against the Released Persons, including, without limitation, those which, if known, might have affected the decision to enter into the Settlement. With respect to any of the Settled Claims, the
parties stipulate and agree that upon Final Approval of the Settlement (as defined above), plaintiffs in the Actions shall expressly and each member of the Class shall be deemed to have, and by operation of the Order and Final Judgment by the
Delaware Chancery Court shall have, expressly waived, relinquished and released any and all provisions, rights and benefits conferred by or under Cal. Civ. Code § 1542 or any law of the United States or any state of the United States or
territory of the United States, or principle of common law, which is similar, comparable or equivalent to Cal. Civ. Code § 1542, which provides: 
 A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE
MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR. 
 Sullivan Action and
Garofalo Action 
 Counsel for plaintiffs in the Sullivan
Action and Garofalo Action shall seek dismissal with prejudice of the Sullivan Action and Garofalo Action within three (3) business days of the date of Final Approval of
the Settlement (as defined above). 
 Application for Attorneys’ Fees and Expenses 

Delaware Lead Counsel, on behalf of all counsel for plaintiffs in the Actions, intends to apply to the Delaware Chancery Court for an
award of attorneys’ fees and expenses for the 

  
 B-20

 
benefit obtained on behalf of the Class, and the Fidelity Settlement and the Archview Settlement. Defendants reserve the right to oppose the award of attorneys’ fees and expenses based on
such application, except that Defendants will not base any opposition to the award of fees and expenses based on the Fidelity Settlement and Archview Settlement on the ground that Fidelity and Archview are not members of the Class as defined herein.
The award of attorneys’ fees and expenses to any plaintiffs’ counsel in the Actions is expressly contingent upon all of the conditions comprising the Effective Date (as defined above) being met. Delaware Lead Counsel also intends to seek
compensatory awards for certain of the plaintiffs. Payment of attorneys’ fees and expenses, and any compensatory awards, will be made within ten (10) business days of the Effective Date (as defined above). Any amounts of attorneys’
fees and expenses and/or compensatory awards for plaintiffs that are awarded by the Delaware Chancery Court on the basis of the benefit represented by the Settlement Payment shall be paid exclusively from the Settlement Payment. While plaintiffs and
their counsel will be seeking fees from Fidelity and Archview for the benefits they believe they have achieved in connection with, respectively, the Fidelity Settlement and the Archview Settlement, they expressly acknowledge that they will not seek
from Defendants, directly or indirectly, payment of any fees awarded by the Delaware Chancery Court on the basis of the purported benefits represented by the Fidelity Settlement and the Archview Settlement, that they will seek payment of any such
fees only from Fidelity and Archview, that Defendants shall not be liable to plaintiffs or their counsel for any such fee award, and that plaintiffs in the Actions and their counsel expressly waive any right to receive such fees from Defendants. For
avoidance of doubt, any efforts by plaintiffs and their counsel to obtain fees from Fidelity and Archview shall not be deemed to be seeking or receiving from Defendants the direct or indirect payment of fees. Except as provided in the Stipulation,
Defendants shall bear no other expenses, costs, damages or fees incurred by plaintiffs in any of 

  
 B-21

 
the Actions, by any member of the Class, or any of their respective attorneys, experts, advisors, agents, or representatives. Delaware Lead Counsel’s application for an award of
attorneys’ fees and expenses, and any compensatory award for plaintiffs in any of the Actions, will be the exclusive application for any such fees, expenses and awards, and counsel for plaintiffs in the Sullivan Action and Garofalo
Action will not make separate applications for any attorneys’ fees and expenses, or compensatory awards for plaintiffs in the Consolidated Action, Sullivan Action or Garofalo Action. Defendants shall have no responsibility
for, or liability with respect to, the allocation among any counsel for any plaintiff of any award of attorneys’ fees and expenses that the Delaware Chancery Court may make, and Defendants take no position with respect to such matters. Any
disputes among counsel for any plaintiff with respect to the allocation of any award of attorneys’ fees and expenses shall be made to the Delaware Chancery Court. 
 Any failure of the Delaware Chancery Court to approve a request for attorneys’ fees and expenses in whole or in part shall not affect the remainder of the Settlement. 

Notice to Persons or Entities That Held Ownership on Behalf of Others 

Brokerage firms, banks and/or other persons or entities that are members of the Class in their capacities as record holders, but not as
beneficial holders, are requested to promptly send this Notice to all of their respective beneficial holders. If additional copies of this Notice are needed for forwarding to such beneficial holders, any requests for such copies or provision of a
list of names and mailing addresses of beneficial holders may be made to: 
 [Notice Administrator’s Name And Contact
Information To Be Inserted] 
 Scope of this Notice and Additional Information 

The foregoing description of the Settlement Hearing, the Consolidated Action, the terms of the proposed Settlement and other matters
described herein do not purport to be comprehensive. For a more detailed statement of the Settlement, you may review a copy of the 

  
 B-22

 
Stipulation on file with the Register in Chancery, Delaware Court of Chancery, 500 North King Street, Wilmington, Delaware 19801 during regular business hours or contact Delaware Lead Counsel as
follows: 
 Robert J. Katzenstein 
 David A. Jenkins 
 Smith Katzenstein & Jenkins, LLP 

800 Delaware Avenue 
 Suite 1000 
 Wilmington, Delaware 19801 

(302) 652-8400 

For a more detailed statement of the matters involved in these proceedings, you may also review the files at the Register in Chancery
during regular business hours or contact Delaware Lead Counsel. PLEASE DO NOT WRITE OR CALL THE COURT OR REGISTER IN CHANCERY. Inquiries or comments about the Settlement may be directed to the attention of Delaware Lead Counsel. 

Dated:                     , 2012 

 

	
	BY ORDER OF THE COURT
	
	 /s/ 

  
 B-23

 Exhibit C 
 IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE 
  

			
	 IN RE REVLON, INC.

SHAREHOLDERS LITIGATION
	  	Consol. C.A. No. 4578-VCL

 ORDER AND FINAL JUDGMENT 

The Stipulation and Agreement of Compromise, Settlement and Release, dated October 8, 2012 (with exhibits thereto, the
“Stipulation”), of the above consolidated class action (the “Consolidated Action”), and the settlement contemplated thereby (the “Settlement”) having been presented at the settlement hearing on
            (the “Settlement Hearing”), pursuant to the scheduling order entered in the Consolidated Action on
            (the “Scheduling Order”), which Stipulation was entered into by plaintiffs in the Consolidated Action, through plaintiffs’ Delaware Lead Counsel (as identified in
Paragraph 4(v) below) and by defendants Ronald O. Perelman, Barry F. Schwartz, David L. Kennedy, Alan T. Ennis, Alan S. Bernikow, Paul J. Bohan, Meyer Feldberg, Ann D. Jordan, Debra L. Lee, Tamara Mellon, Kathi P. Seifert, Revlon, Inc.
(“Revlon” or the “Company”)), and MacAndrews & Forbes Holdings Inc. (“MacAndrews & Forbes”) (collectively, “Defendants” and, together with plaintiffs, the “Parties”), through their
counsel; and the Delaware Court of Chancery (the “Court”) having determined that notice of said hearing was given to the Class (as defined in Paragraph 4(iv) below) in accordance with the Scheduling Order and that said notice was adequate
and sufficient; and the Parties having appeared by their attorneys of record; and the attorneys for the respective Parties having been heard in support of the Settlement of the Conslidated Action, and an opportunity to be heard having been given to
all other persons or entities desiring to be heard as provided in the Notice (as defined in Paragraph 1 below); and the entire matter of the Settlement having been considered by the Court; 

 IT IS HEREBY ORDERED, ADJUDGED AND DECREED, this
            day of             , 2012 as follows: 
 1. This Order and Final Judgment incorporates and makes part hereof: (i) the Stipulation filed with the Court on             , 2012; and
(ii) the Notice of Pendency of Class Action, Proposed Settlement of Class Action, Settlement Hearing and Right to Appear (the “Notice”) filed with the Court on             ,
2012. 
 2. This Order and Final Judgment incorporates by reference the definitions in the Stipulation, and unless defined
herein, capitalized words and terms shall have the same meaning as they have in the Stipulation. 
 3. The Notice has been given
to the Class (as defined in Paragraph 4(iv) below) pursuant to and in the manner directed by the Scheduling Order, proof of the mailing and posting of the Notice has been filed with the Court and a full opportunity to be heard has been offered to
all parties to the Consolidated Action, the Class and persons and/or entities in interest. The form and method of the Notice (i) constituted the best notice practicable under the circumstances to apprise members of the Class of the pendency of
the Consolidated Action, of the effect of the proposed Settlement (including the nature and scope of the releases contained therein) and of their rights to object to the proposed Settlement and appear at the Settlement Hearing; (ii) constituted
due, adequate and sufficient notice to all persons and entities entitled to receive notice of the Settlement; and (iii) satisfied the requirements of the United States Constitution (including the Due Process Clause), Delaware Court of
Chancery Rule 23 and all other applicable law and rules. It is determined that all members of the Class are bound by this Order and Final Judgment herein. 

  
 C-2

 4. The Court hereby finds, pursuant to Delaware Court of Chancery Rule 23, as follows:

 (i) that (a) the Class, as defined below, is so numerous that joinder of all members is impracticable; (b) there
are questions of law and fact common to the Class; (c) the claims of plaintiffs Edward S. Gutman and Lawrence Corneck (“Plaintiffs”) are typical of the claims of the Class; (d) Plaintiffs and Delaware Lead Counsel (as identified
below) have fairly and adequately protected the interests of the Class; (e) the prosecution of separate actions by individual members of the Class would create a risk of inconsistent adjudications, which would establish incompatible standards
of conduct for Defendants and, as a practical matter, the disposition of the Consolidated Action would influence the disposition of any pending or future identical cases brought by other members of the Class; and (f) Defendants have allegedly
acted or refused to act on grounds generally applicable to the Class, thereby making appropriate final relief with respect to the Class as a whole; 
 (ii) that the requirements of Delaware Court of Chancery Rule 23 have been satisfied; 
 (iii) that the requirements of the Delaware Court of Chancery Rules and due process have been satisfied in connection with the Notice; 

(iv) that the Consolidated Action is a proper class action pursuant to Delaware Court of Chancery Rules 23(a), 23(b)(1) and 23(b)(2), and
is hereby certified as a non opt-out Class consisting of record and beneficial holders of Revlon Class A Common Stock, their respective successors in interest, successors, predecessors in

  
 C-3

 
interest, predecessors, representatives, trustees, executors, administrators, heirs, assigns or transferees, immediate and remote, and any person or entity acting for or on behalf of, or claiming
under, any of them, and each of them, together with their predecessors and successors and assigns, who held shares of Revlon Class A Common Stock at any time between and including August 10, 2009 and October 8, 2009, including, but
not limited to, stockholders who tendered shares in the Exchange Offer, but excluding: (i) Fidelity Management & Research Company (“FMR Co.”) and its investment advisory affiliates, all of which are direct or indirect
subsidiaries of FMR LLC, which at the time of the Exchange Offer was the largest unaffiliated Revlon stockholder; (ii) the following funds advised by FMR Co. or its investment advisory affiliates: (a) Fidelity Securities Fund: Leveraged
Company Stock Fund; (b) Fidelity Advisor Series I: Advisor Leveraged Company Stock Fund; and (c) Fidelity Advisor High Yield Portfolio; (iii) the following institutional client accounts or funds that are advised by an investment
advisory affiliate of FMR Co.: (a) Fidelity Canadian Balanced Fund – High Yield Bond Subaccount; (b) Pension Reserve Investment Management Board of Massachusetts High Yield Bond Account; (c) General Motors Hourly-Rate Employees
Pension Trust 7N1J (Successor In Interest); and (d) General Motors Salaried Employees Pension Trust 7N1L (Successor In Interest); (iv) Archview Fund L.P (and its predecessor entity, Archview Credit Opportunities Fund L.P.);
(v) Archview Master Fund Ltd. (and its predecessor entity, Archview Credit Opportunities Master Fund Ltd.); and (vi) Defendants, any Revlon officers and directors identified in Revlon’s 2009 Annual Report who would otherwise be part
of the class, and members of MacAndrews & Forbes management who participated in the Exchange Offer (the “Class”); and 
 (v) that Plaintiffs are hereby certified as the Class representatives, and Smith Katzenstein & Jenkins, LLP, Harwood Feffer LLP, and the Law Offices of Curtis V. Trinko, LLP are certified as
Class Delaware Lead Counsel. 

  
 C-4

 5. The Settlement is found to be fair, reasonable, adequate and in the best interests of the
Class, and it is hereby approved in all respects (including the releases contained in the Stipulation and the dismissal with prejudice of any and all Settled Claims as defined in Paragraph 8 below against each and every one of the Released Persons
as defined in Paragraph 8 below). The Parties are hereby authorized and directed to comply with and to consummate the Settlement in accordance with its terms and provisions, and the Register in Chancery is directed to enter and docket this Order and
Final Judgment in the Consolidated Action. 
 6. The Consolidated Action is hereby dismissed with prejudice in its entirety as
to Defendants and against Plaintiffs and all other members of the Class on the merits and, except as provided herein, without costs. 
 7. The terms of the Stipulation and this Order and Final Judgment shall forever be binding on Plaintiffs, members of the Class and Released Persons (as defined in Paragraph 8 below) and their counsel.

 8. The Court hereby dismisses the Consolidated Action with prejudice, and orders the settlement and release of, and a
permanent injunction barring, any claims, demands, rights, actions, causes of action, liabilities, damages, losses, obligations, judgments, duties, suits, costs, expenses, matters and issues, known or unknown, contingent or absolute, suspected or
unsuspected, disclosed or undisclosed, liquidated or unliquidated, matured or unmatured, accrued or unaccrued, apparent or unapparent, that have been, could have been, or in the future can or might be asserted in any court, tribunal or proceeding
(including, but not limited to, any claims arising under federal, 

  
 C-5

 
state, foreign or common law, including the federal securities laws and any state disclosure law), by or on behalf of plaintiffs in the Consolidated Action or any member of the Class, whether
individual, direct, class, derivative (on behalf of Revlon or otherwise), representative, legal, equitable, or any other type or in any other capacity (collectively, the “Releasing Persons”) against Defendants, Wolfe, Santagati, or any of
their respective families, parent entities, controlling persons, associates, affiliates or subsidiaries and each and all of their respective past or present officers, directors, stockholders, principals, representatives, employees, attorneys,
financial or investment advisors, consultants, accountants, investment bankers, commercial bankers, entities providing fairness opinions, underwriters, advisors or agents, heirs, executors, trustees, general or limited partners or partnerships,
limited liability companies, members, joint ventures, personal or legal representatives, estates, administrators, predecessors, successors and assigns (collectively, the “Released Persons”) which the Releasing Persons ever had, now have,
or may have by reason of, arising out of, relating to, or in connection with the acts, events, facts, matters, transactions, occurrences, statements, or representations, or any other matter whatsoever set forth in or otherwise related, directly
or indirectly, to the allegations in the Actions, the complaints and amended complaints in the Actions, the Proposal, the Exchange Offer and other transactions contemplated therein, disclosures made in connection therewith (including the adequacy
and completeness of such disclosures), any disclosure of the Company’s actual, projected or estimated financial results for the third quarter 2009, or any other disclosure made by Revlon from the date of the Proposal through the date Revlon
announced its financial results for the third quarter 2009 (including the adequacy and completeness of such disclosures) (the “Settled Claims”); provided, however, that the Settled Claims shall not release any claims to enforce the
Settlement. 

  
 C-6

 9. The Court further bars and releases any and all claims, known or unknown, for
damages, injunctive relief, or any other remedies against plaintiffs in the Consolidated Action or any member of the Class, their attorneys or agents based upon, arising from, or related to prosecution and/or settlement of the Actions. 

10. The releases described in Paragraphs 8 and 9 above shall extend to all claims that Releasing Persons do not know or suspect to exist
at the time of the release of the Settled Claims, which, if known, might have affected the Releasing Persons’ decisions to enter into the releases or the Settlement. Additionally, plaintiffs in the Actions acknowledge, and the members of the
Class by operation of law shall be deemed to have acknowledged, that they may discover facts in addition to or different from those now known or believed to be true by them with respect to the Settled Claims, but that it is the intention of
plaintiffs in the Actions, and by operation of law the intention of the members of the Class, to completely, fully, finally and forever compromise, settle, release, discharge, extinguish, and dismiss any and all Settled Claims, known or
unknown, suspected or unsuspected, contingent or absolute, accrued or unaccrued, apparent or unapparent, which now exist, or heretofore existed, or may hereafter exist, and without regard to the subsequent discovery of additional or different
facts. Plaintiffs in the Actions acknowledge, and the members of the Class by operation of law shall be deemed to have acknowledged, that “Unknown Claims” are expressly included in the definition of “Settled Claims,” and
that such inclusion was expressly bargained for and was a key element of the Settlement and was relied upon by each and all of the Released Persons in entering into the Stipulation. “Unknown Claims” means any claim that

  
 C-7

 
plaintiffs in the Actions or any member of the Class does not know or suspect exists in his, her or its favor at the time of the release of the Settled Claims as against the Released Persons,
including, without limitation, those which, if known, might have affected the decision to enter into the Settlement. With respect to any of the Settled Claims, the parties stipulate and agree that upon Final Approval of the Settlement, plaintiffs in
the Actions shall expressly and each member of the Class shall be deemed to have, and by operation of this Order and Final Judgment by the Court shall have, expressly waived, relinquished and released any and all provisions, rights and benefits
conferred by or under Cal. Civ. Code § 1542 or any law of the United States or any state of the United States or territory of the United States, or principle of common law, which is similar, comparable or equivalent to Cal. Civ. Code §
1542, which provides: 
 A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN
HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR. 
 11. Neither the Stipulation nor the Settlement contained therein, nor any act performed or document executed pursuant to, or in furtherance of, the Settlement: (i) is or may be deemed to be or may be
used as an admission of, or evidence of, the validity or lack thereof of any Settled Claim, or of any wrongdoing or liability of Defendants; or (ii) is or may be deemed to be or may be used as an admission of, or evidence of, any fault or
omission of any of the Defendants in any proceeding of any nature. Nothing in this Order and Final Judgment shall preclude any action to enforce the terms of the Stipulation or this Order and Final Judgment. Defendants may file, cite and/or refer to
the Stipulation and/or this Order and Final Judgment in related litigation as evidence of 

  
 C-8

 
the Settlement, or in any action that may be brought against them in order to support a defense or counterclaim based on principles of res judicata, collateral estoppel, release, good
faith settlement, judgment bar or reduction, or any other theory of claim preclusion or issue preclusion or similar defense or counterclaim. 
 12. All agreements made and orders entered during the course of the Consolidated Action relating to the confidentiality of information shall survive this Order and Final Judgment. 

13. Without affecting the finality of this Order and Final Judgment, jurisdiction is hereby retained by this Court for the purpose of
protecting and implementing the Stipulation and the terms of this Order and Final Judgment, including the resolution of any disputes that may arise with respect to the effectuation of any of the provisions of the Stipulation, and for the entry of
such further orders as may be necessary or appropriate in administering and implementing the terms and provisions of the Settlement and this Order and Final Judgment. 
 14. Delaware Lead Counsel is hereby awarded attorneys’ fees in the amount of $            , inclusive of expenses, which amount the Court
finds to be fair and reasonable and which shall be paid to Delaware Lead Counsel on behalf of all plaintiffs’ counsel in the Actions in accordance with the terms and conditions of the Stipulation. 

 

	
	  

	Vice Chancellor Laster

  
 C-9

 Exhibit D 

 

							
	 SUPREME COURT OF THE STATE OF NEW YORK

COUNTY OF NEW YORK

	  
	  	 	x	  	  	
	 STANLEY E. SULLIVAN,
  

                         
           Plaintiff,
  

            v.

 
 RONALD O. PERELMAN, et al.,

 

                         
           Defendants.
	  	 
 
 
 
 
 
 
 
 	:
:
:
:
:
:
:
:
:	  
  
  
  
  
  
  
  
  	  	  
 Index No. 650257/2009

	  
	  	 	x	  	  	

 STIPULATION AND ORDER OF DISMISSAL 

This Stipulation and Order of Dismissal (the “Order”) is made and entered into by and between the parties to the
above-captioned action (the “Sullivan Action”), by and through their respective attorneys, and subject to approval of the Court. 
 WHEREAS, on April 20, 2009, Revlon, Inc. (“Revlon” or the “Company”) announced that MacAndrews & Forbes Holdings Inc. (“MacAndrews & Forbes”)
proposed a merger transaction (the “Proposal”); 
 WHEREAS, on May 4, 2009, plaintiff Stanley S. Sullivan
(“Plaintiff”) filed a putative class action complaint against Ronald O. Perelman, Barry F. Schwartz, David L. Kennedy, Alan T. Ennis, Alan S. Bernikow, Paul J. Bohan, Meyer Feldberg, Ann D. Jordan, Debra L. Lee, Tamara Mellon, Kathi P.
Seifert, Revlon, and MacAndrews & Forbes (collectively, “Defendants”) and now-former Revlon director Kenneth L. Wolfe (“Wolfe”) on behalf of a putative class of Revlon’s stockholders; 

WHEREAS, Wolfe was later dismissed by Plaintiff from the Sullivan Action; 

  
 D-1

 WHEREAS, on August 10, 2009, the Company launched a voluntary exchange offer
(the “Exchange Offer”); 
 WHEREAS, following amendments to the terms of the Exchange Offer, the final date on
which tenders of Revlon Class A Common Stock could be made was October 7, 2009; 
 WHEREAS, on October 8,
2009, the Company consummated the Exchange Offer; 
 WHEREAS, pursuant to the Exchange Offer, Revlon issued to
stockholders who elected to tender shares into the Exchange Offer 9,336,905 shares of its newly issued Series A Preferred Stock in exchange for the same number of shares of Revlon Class A Common Stock tendered in the Exchange Offer; 

WHEREAS, on October 29, 2009, Revlon announced its third quarter results for the fiscal quarter ended September 30,
2009; 
 WHEREAS, on December 24, 2009, Plaintiff filed an amended complaint on behalf of stockholders that
participated in the Exchange Offer, alleging, among other things, that information regarding the Company’s financial results for the third quarter 2009 should have been disclosed in the Exchange Offer materials; 

WHEREAS, other purported class actions stemming from the Exchange Offer and alleged failure to disclose information in the
Exchange Offer materials about the Company’s financial results for the third quarter 2009 were filed in the Delaware Court of Chancery (the “Delaware Chancery Court”) under the consolidated caption In re Revlon, Inc. Shareholders
Litigation, C.A. No. 4578-VCL (Del. Ch.) (the “Consolidated Action”), and in the United States District Court for the District of Delaware (the “Delaware District Court”) under the caption Garofalo v. Revlon, Inc., et
al., C.A. No. 1:09-CV-01008-GMS (D. Del.) (the “Garofalo Action”) (the Consolidated Action, Garofalo Action and Sullivan Action are collectively referred to as the “Actions”); 

  
 D-2

 WHEREAS, a derivative action was also filed in the Delaware District Court under the
caption Smutek v. Perelman, et al., No. 1:10-CV-00392-GMS (D. Del.); 
 WHEREAS, by agreement of the parties,
Plaintiff has had the opportunity to participate in the merits discovery proceeding in the Consolidated Action; 

WHEREAS, on August 10, 2012, at the conclusion of negotiations, the parties to all the actions
identified above reached a comprehensive agreement in principle providing for the settlement of the actions on the terms and conditions set forth in a stipulation filed with the Delaware Chancery Court and a stipulation filed with the Delaware
District Court (the “Settlement”);  
 WHEREAS, the stipulation filed with the Delaware Chancery
Court (the “Consolidated Action Stipulation”) provided for the certification of a class of record and beneficial holders of Revlon Class A Common Stock, their respective successors in interest, successors, predecessors in interest,
predecessors, representatives, trustees, executors, administrators, heirs, assigns or transferees, immediate and remote, and any person or entity acting for or on behalf of, or claiming under, any of them, and each of them, together with their
predecessors and successors and assigns, who held shares of Revlon Class A Common Stock at any time between and including August 10, 2009 and October 8, 2009, including, but not limited to, stockholders who tendered shares in the
Exchange Offer, but excluding: (i) Fidelity Management & Research Company (“FMR Co.”) and its investment advisory affiliates, all of which are direct or indirect subsidiaries of FMR LLC, which at the time of the Exchange
Offer was the largest unaffiliated Revlon stockholder; (ii) the following funds advised by FMR Co. or its investment advisory affiliates: (a) Fidelity Securities Fund: Leveraged Company Stock Fund; (b) Fidelity Advisor Series I:
Advisor Leveraged Company Stock Fund; and (c) Fidelity Advisor High Yield Portfolio; (iii) the following institutional client accounts or funds that are advised by an 

  
 D-3

 
investment advisory affiliate of FMR Co.: (a) Fidelity Canadian Balanced Fund – High Yield Bond Subaccount; (b) Pension Reserve Investment Management Board of Massachusetts High
Yield Bond Account; (c) General Motors Hourly-Rate Employees Pension Trust 7N1J (Successor In Interest); and (d) General Motors Salaried Employees Pension Trust 7N1L (Successor In Interest); (iv) Archview Fund L.P (and its predecessor
entity, Archview Credit Opportunities Fund L.P.); (v) Archview Master Fund Ltd. (and its predecessor entity, Archview Credit Opportunities Master Fund Ltd.); and (vi) Defendants, any Revlon officers and directors identified in
Revlon’s 2009 Annual Report who would otherwise be part of the class, and members of MacAndrews & Forbes management who participated in the Exchange Offer (the “Class”); 

WHEREAS, the Consolidated Action Stipulation provided for the complete release and dismissal with prejudice of, among other
things, all claims that were or could have been brought by any member of the Class against Defendants, whether directly or derivatively on behalf of Revlon, relating to or arising out of the Actions, the complaints and amended complaints in the
Actions, the Proposal, the Exchange Offer and the transactions contemplated therein, disclosures made in connection therewith (including the adequacy and completeness of such disclosures), any disclosure of the Company’s actual, projected or
estimated financial results for the third quarter 2009, or any other disclosure made by Revlon from the date of the Proposal through the date Revlon announced its financial results for the third quarter 2009 (including the adequacy and completeness
of such disclosures); 
 WHEREAS, the Class was provided with notice of the proposed Settlement and a public hearing on
the proposed Settlement was held on             before the Delaware Chancery Court; 

  
 D-4

 WHEREAS, the Delaware Chancery Court approved the Settlement and the terms of the
Consolidated Action Stipulation, dismissed the Consolidated Action with prejudice, and awarded attorneys’ fees and expenses in the amount of $            (the “Judgment”);

 WHEREAS, the Delaware Chancery Court had jurisdiction to make decisions regarding the Settlement and corresponding
award of attorney fees’ and expenses in the Actions; 
 WHEREAS, the Judgment binds all members of the Class,
including Plaintiff in the Sullivan Action; and 
 WHEREAS, the Judgment is entitled to full faith and credit, and
precludes Plaintiff here from continuing to pursue any of the claims asserted or that could have been asserted in the Sullivan Action, whether individually or on a class or derivative basis; 

IT IS HEREBY AGREED AND ORDERED: 
 1. The Sullivan Action and all claims asserted or that could have been asserted in it, whether individually or on a class or derivative basis, are hereby dismissed with prejudice as to Plaintiff in
the Sullivan Action. 
 2. Defendants shall have no responsibility for, or liability with respect to, the allocation
among plaintiffs’ counsel in the Actions of the award of fees and expenses. Counsel for Plaintiff in the Sullivan Action have expressly waived any right to seek fees and expenses except for those provided in the Consolidated Action
Stipulation. 

  
 D-5

 Dated:             , 2012 

 

			
	 GIBSON, DUNN & CRUTCHER LLP

 
	    	 BRAGAR EAGEL & SQUIRE, P.C.

 

	 Lawrence Zweifach

Marshall R. King
 200 Park Avenue, 47th Floor
 New York, New York
10166
 (212) 351-4000
  

Attorneys for Defendants Bernikow, Bohan, Feldberg, Jordan, Lee, Mellon, and Seifert
	    	 Raymond A. Bragar
 888 Third
Ave., Suite 3040
 New York, New York 10022
 (212) 308-5858
  
 Counsel
for Plaintiff in the Sullivan Action

		
	 SKADDEN, ARPS, SLATE, MEAGHER & FLOM LLP
  

 
	    	
	 Thomas J. Allingham II (#476)

Alyssa S. O’Connell (#4351)
 One Rodney
Square
 P.O. Box 636
 Wilmington,
Delaware 19899
 (302) 651-3000
  

Attorneys for Defendants Ennis, Kennedy, and Revlon, Inc.
	    	
		
	 WACHTELL, LIPTON, ROSEN & KATZ
  

 
	    	
	 William Savitt
 51 West 52nd
Street
 New York, New York 10019
 (212)
403-1000
  
 Attorneys for Defendants Perelman, Schwartz, and
MacAndrews & Forbes Holdings Inc.
	    	

 SO ORDERED this             day of
            , 2012. 
  

	
	  

	J.

  
 D-6

 Exhibit E 
 IN THE UNITED STATES DISTRICT COURT 
 FOR THE DISTRICT OF DELAWARE 

 

							
	 JOHN GAROFALO, on behalf of himself and
 all others similarly situated,
  
                 Plaintiff,
  

                
v.
	  	 
  
  
  
  
  
  
  
	)
 )

)
 )

)
 )

)

)
	  
   

  
   

  
   

  
   
	  	 Civil Action No.

1:09-cv-01008-GMS
  

	 REVLON, INC., RONALD O. PERELMAN, MACANDREWS & FORBES HOLDINGS
 INC., BARRY F. SCHWARTZ, DAVID L.
 KENNEDY, ALAN T. ENNIS, ALAN S.

BERNIKOW, PAUL J. BOHAN, MEYER
 FELDBERG, ANN D.
JORDAN, DEBRA L.
 LEE, TAMARA MELLON, and KATHI P.
 SEIFERT,
  

                Defendants.
	  	 
  
  
  
  
  
  
  
  
  
	)
 )

)
 )

)
 )

)
 )

)

)
	  
   

  
   

  
   

  
   

  
   
	  	CLASS ACTION

 STIPULATION AND ORDER OF DISMISSAL 

This Stipulation and Order of Dismissal (the “Order”) is made and entered into by and between the parties to the
above-captioned action (the “Garofalo Action”), by and through their respective attorneys, and subject to approval of the Court. 
 WHEREAS, on August 10, 2009, Revlon, Inc. (“Revlon” or the “Company”) launched a voluntary exchange offer (the “Exchange Offer”);  

WHEREAS, following amendments to the terms of the Exchange Offer, the final date on which tenders of Revlon Class A Common
Stock could be made was October 7, 2009; 
 WHEREAS, on October 8, 2009, the Company consummated the Exchange
Offer; 
 WHEREAS, pursuant to the Exchange Offer, Revlon issued to stockholders who elected to tender shares into the
Exchange Offer 9,336,905 shares of its newly issued Series A Preferred Stock in exchange for the same number of shares of Revlon Class A Common Stock tendered in the Exchange Offer; 

  
 E-1

 WHEREAS, on October 29, 2009, Revlon announced its third quarter results for the
fiscal quarter ended September 30, 2009; 
 WHEREAS, on December 31, 2009, plaintiff John Garofalo
(“Plaintiff”) filed a purported class action on behalf of stockholders that participated in the Exchange Offer, alleging federal and state law claims in connection with the Exchange Offer and alleging that information regarding the
Company’s financial results for the third quarter 2009 should have been disclosed in the Exchange Offer materials; 

WHEREAS, the Garofalo Action was brought against Ronald O. Perelman, Barry F. Schwartz, David L. Kennedy, Alan T. Ennis,
Alan S. Bernikow, Paul J. Bohan, Meyer Feldberg, Ann D. Jordan, Debra L. Lee, Tamara Mellon, Kathi P. Seifert, Revlon, and MacAndrews & Forbes Holdings Inc. (collectively, “Defendants”); 

WHEREAS, Kenneth L. Wolfe (“Wolfe”) was initially named as a defendant in the Garofalo Action, but was later
dismissed; 
 WHEREAS, other purported class actions stemming from the Exchange Offer and alleged failure to disclose
information in the Exchange Offer materials about the Company’s financial results for the third quarter 2009 were filed in the Delaware Court of Chancery (the “Delaware Chancery Court”) under the consolidated caption In re Revlon,
Inc. Shareholders Litigation, C.A. No. 4578-VCL (Del. Ch.) (the “Consolidated Action”), and in the New York State Supreme Court under the caption Sullivan v. Perelman, et al., No. 650257/2009 (N.Y. Sup. Ct.) (the
“Sullivan Action”) (the Consolidated Action, Garofalo Action and Sullivan Action are collectively referred to as the “Actions”); 

  
 E-2

 WHEREAS, on March 16, 2010, the Court appointed Berger & Montague, P.C.
as lead counsel in the Garofalo Action; 
 WHEREAS, a derivative action was also filed in this Court under the
caption Smutek v. Perelman, et al., No. 1:10-CV-00392-GMS (D. Del.); 
 WHEREAS, on July 29, 2011,
Plaintiff filed an amended complaint; 
 WHEREAS, Wolfe was not named as a defendant in the amended complaint filed in
the Garofalo Action; 
 WHEREAS, on January 31, 2012, Defendants filed motions to dismiss the amended
complaint in the Garofalo Action; 
 WHEREAS, on March 2, 2012, Plaintiff filed a response opposing
Defendants’ motions to dismiss, and a motion alternatively seeking leave to amend and file a second amended complaint; 

WHEREAS, the motions to dismiss and amend in the Garofalo Action are fully briefed and currently pending; 

WHEREAS, by agreement of the parties, Plaintiff has participated in the merits discovery proceeding in the Consolidated Action;

 WHEREAS, Defendants have produced tens of thousands of documents as part of merits discovery; 

WHEREAS, numerous third parties have been subpoenaed and produced documents as part of merits discovery; 

WHEREAS, two representatives of Barclays Capital Inc., Revlon directors Debra L. Lee, and Meyer Feldberg, and Wolfe have been
deposed; 
 WHEREAS, on August 10, 2012, at the conclusion of negotiations, the parties to all the actions
identified above reached a comprehensive agreement in principle providing for the settlement of the actions on the terms and conditions set forth in a stipulation filed with the Delaware Chancery Court and a stipulation filed with the Court (the
“Settlement”); 

  
 E-3

 WHEREAS, the stipulation filed with the Delaware Chancery Court (the
“Consolidated Action Stipulation”) provided for the certification of a class of record and beneficial holders of Revlon Class A Common Stock, their respective successors in interest, successors, predecessors in interest, predecessors,
representatives, trustees, executors, administrators, heirs, assigns or transferees, immediate and remote, and any person or entity acting for or on behalf of, or claiming under, any of them, and each of them, together with their predecessors and
successors and assigns, who held shares of Revlon Class A Common Stock at any time between and including August 10, 2009 and October 8, 2009, including, but not limited to, stockholders who tendered shares in the Exchange Offer, but
excluding: (i) Fidelity Management & Research Company (“FMR Co.”) and its investment advisory affiliates, all of which are direct or indirect subsidiaries of FMR LLC, which at the time of the Exchange Offer was the largest
unaffiliated Revlon stockholder; (ii) the following funds advised by FMR Co. or its investment advisory affiliates: (a) Fidelity Securities Fund: Leveraged Company Stock Fund; (b) Fidelity Advisor Series I: Advisor Leveraged Company
Stock Fund; and (c) Fidelity Advisor High Yield Portfolio; (iii) the following institutional client accounts or funds that are advised by an investment advisory affiliate of FMR Co.: (a) Fidelity Canadian Balanced Fund – High
Yield Bond Subaccount; (b) Pension Reserve Investment Management Board of Massachusetts High Yield Bond Account; (c) General Motors Hourly-Rate Employees Pension Trust 7N1J (Successor In Interest); and (d) General Motors Salaried
Employees Pension Trust 7N1L (Successor In Interest); (iv) Archview Fund L.P (and its predecessor entity, Archview Credit Opportunities Fund L.P.); (v) Archview Master Fund Ltd. (and its predecessor entity, Archview Credit Opportunities
Master Fund Ltd.); and (vi) Defendants, any Revlon officers and directors 

  
 E-4

 
identified in Revlon’s 2009 Annual Report who would otherwise be part of the class, and members of MacAndrews & Forbes management who participated in the Exchange Offer (the
“Class”); 
 WHEREAS, the Consolidated Action Stipulation provided for the complete release and dismissal with
prejudice of, among other things, all claims that were or could have been brought by any member of the Class against Defendants, whether directly or derivatively on behalf of Revlon, relating to or arising out of the Actions, the Proposal (as
defined in the Consolidated Action Stipulation), the Exchange Offer and the transactions contemplated therein, disclosures made in connection therewith (including the adequacy and completeness of such disclosures), any disclosure of the
Company’s actual, projected or estimated financial results for the third quarter 2009, or any other disclosure made by Revlon from the date of the Proposal through the date Revlon announced its financial results for the third quarter 2009
(including the adequacy and completeness of such disclosures); 
 WHEREAS, the Class was provided with notice of the
proposed Settlement and a public hearing on the proposed Settlement was held on             before the Delaware Chancery Court; 

WHEREAS, the Delaware Chancery Court approved the Settlement and the terms of the Consolidated Action Stipulation, dismissed the
Consolidated Action with prejudice, and awarded attorneys’ fees and expenses in the amount of $            (the “Judgment”); 

WHEREAS, the Delaware Chancery Court had jurisdiction to make decisions regarding the Settlement and corresponding award of
attorney fees’ and expenses in the Actions; 
 WHEREAS, the Judgment binds all members of the Class, including
Plaintiff in the Garofalo Action; and 

  
 E-5

 WHEREAS, the Judgment is entitled to full faith and credit, and precludes Plaintiff
here from continuing to pursue any of the claims asserted or that could have been asserted in the Garofalo Action, whether individually or on a class or derivative basis; 

IT IS HEREBY AGREED AND ORDERED: 
 1. The Garofalo Action and all claims asserted or that could have been asserted in it, whether individually or on a class or derivative basis, are hereby dismissed with prejudice as to Plaintiff in
the Garofalo Action. 
 2. Defendants shall have no responsibility for, or liability with respect to, the allocation
among plaintiffs’ counsel in the Actions of the award of fees and expenses. Counsel for Plaintiff in the Garofalo Action have expressly waived any right to seek fees and expenses except for those provided in the Consolidated Action
Stipulation. 
 3. All agreements made and orders entered during the course of the Garofalo Action relating to the
confidentiality of information shall survive this Order. 
  

			
	 Dated:            , 2012
	  	  

		  	 Robert D. Goldberg (#631)

Biggs & Battaglia
 921 North Orange
Street
 Wilmington, Delaware 19801

(302) 655-9677
  
 Attorneys for Plaintiff
  
  

		  	 Raymond J. DiCamillo (#3188)

Kevin M. Gallagher (#5337)
 Richards, Layton
& Finger, P.A.
 920 North King Street
 Wilmington, Delaware 19801
 (302) 651-7700

 
 Attorneys for Defendants Alan S. Bernikow, Paul J. Bohan, Meyer Feldberg, Ann D.
Jordan, Debra L. Lee, Tamara Mellon, and Kathi P. Seifert

  
 E-6

			
		  	  

		  	 Thomas J. Allingham II (#476)

Alyssa S. O’Connell (#4351)
 Skadden, Arps,
Slate, Meagher & Flom LLP
 One Rodney Square
 P.O. Box 636
 Wilmington, Delaware 19899
 (302) 651-3000
  
 Attorneys
for Defendants Alan T. Ennis,
 David L. Kennedy and Revlon, Inc.

 
  

		  	 Andre G. Bouchard (#2504)

Jamie L. Brown (#5551)
 Bouchard Margules &
Friedlander, P.A.
 222 Delaware Avenue, Suite 1400
 Wilmington, Delaware 19801
 (302) 573-3500

 
 Attorneys for Defendants Ronald O.

Perelman, Barry F. Schwartz and

MacAndrews & Forbes Holdings Inc.

 SO ORDERED this              day
of            , 2012. 
  

	
	  

	CHIEF JUDGE GREGORY M. SLEET

  
 E-7Registration Rights Agreement

 Exhibit 4.1 
 REGISTRATION RIGHTS AGREEMENT 
 by and among 

W&T OFFSHORE, INC., 
 THE GUARANTORS 
 party hereto 

and 
 Morgan
Stanley & Co. LLC, 
 as representative of the Initial Purchasers (as defined herein) 

Dated as of October 24, 2012 

 REGISTRATION RIGHTS AGREEMENT 

This Registration Rights Agreement (this “Agreement”) is made and entered into as of October 24, 2012 by and among
W&T Offshore, Inc., a Texas corporation (the “Company”), each of the guarantors named on Schedule A hereto (the “Guarantors”) and Morgan Stanley & Co. LLC, as representative of the initial purchasers
listed on Schedule I to the Purchase Agreement (each an “Initial Purchaser” and, collectively, the “Initial Purchasers”), each of whom has agreed to purchase $300,000,000 in aggregate principal amount of the
Company’s 8.500% Senior Notes due 2019 (the “New Notes”) pursuant to the Purchase Agreement (as defined below). The New Notes will be issued as additional notes under the Indenture pursuant to which the Company issued
$600,000,000 in aggregate principal amount of its 8.500% senior notes due 2019 (the “Existing Notes”) on June 10, 2011, which were subsequently exchanged for registered notes on January 13, 2012. The New Notes and the
Existing Notes will be treated as a single class for all purposes under the Indenture and the terms of the New Notes and the Existing Notes will be identical. 
 This Agreement is made pursuant to the Purchase Agreement, dated as of October 17, 2012 (the “Purchase Agreement”), by and among the Company, the Guarantors and Morgan
Stanley & Co. LLC, as representative of the Initial Purchasers, (i) for the benefit of each Initial Purchaser and (ii) for the benefit of the holders from time to time of the New Securities (as defined below) (including each
Initial Purchaser). In order to induce the Initial Purchasers to purchase the New Securities, the Company has agreed to provide the registration rights set forth in this Agreement. The execution and delivery of this Agreement is a condition to the
obligations of the Initial Purchasers set forth in Section 5(g) of the Purchase Agreement. 
 The parties hereby agree as
follows: 
 Section 1. Definitions. As used in this Agreement, the following capitalized terms shall have the
following meanings: 
 Additional Interest: As defined in Section 5 hereof. 

Additional Interest Payment Date: With respect to a series of New Securities, each Interest Payment Date for such series of
New Securities. 
 Broker-Dealer: Any broker or dealer registered under the Exchange Act. 

Closing Date: The date of this Agreement. 
 Commission: The Securities and Exchange Commission. 

Consummate: A registered Exchange Offer shall be deemed “Consummated” with respect to a series of New
Securities for purposes of this Agreement upon the occurrence of (i) the filing and effectiveness under the Securities Act of the Exchange Offer Registration Statement relating to the Exchange Securities to be issued in the Exchange Offer in
exchange for New Securities of such series, (ii) the maintenance of such Registration Statement continuously effective and the keeping of the Exchange Offer open for a period not less than the minimum period required pursuant to
Section 3(b) hereof and (iii) the delivery by the Company to the Registrar under the Indenture of Exchange Securities in the same aggregate principal amount as the aggregate principal amount of New Securities that were validly tendered by
Holders thereof pursuant to the Exchange Offer. 

 Exchange Act: The Securities Exchange Act of 1934, as amended, including the
rules and regulations promulgated thereunder. 
 Exchange Notes: The 8.500% Senior Notes due 2019, the same series under
the Indenture as the New Notes, to be issued to Holders in exchange for Transfer Restricted Securities pursuant to this Agreement. 
 Exchange Offer: An offer registered under the Securities Act by the Company and the Guarantors pursuant to a Registration Statement pursuant to which the Company and the Guarantors shall
offer the Holders of all outstanding Transfer Restricted Securities the opportunity to exchange all such outstanding Transfer Restricted Securities held by such Holders for Exchange Securities in the aggregate principal amount equal to the aggregate
principal amount of the Transfer Restricted Securities tendered in such exchange offer by such Holders and with terms that are identical in all respects to the Transfer Restricted Securities (except that the Exchange Securities will not contain
terms with respect to the interest rate step-up provision and transfer restrictions). 
 Exchange Offer Registration
Statement: Any Registration Statement relating to an Exchange Offer, including the related Prospectus. 
 Exchange
Securities: The Exchange Notes and the Guarantees attached thereto. 
 Exempt Resales: The transactions in which the
Initial Purchasers propose to sell the New Securities to certain “qualified institutional buyers,” as such term is defined in Rule 144A under the Securities Act, and to persons in offshore transactions in reliance on Regulation S.

 FINRA: Financial Industry Regulatory Authority, Inc. 

Free Writing Prospectus: Each “free writing prospectus” as defined in Rule 405 under the Securities Act, prepared by or
on behalf of the Company or used or referred to by the Company in connection with each offer to sell or solicitation of an offer to buy the New Notes or the Exchange Notes. 
 Guarantees: As defined in the Purchase Agreement. 
 Holders:
As defined in Section 2(b) hereof. 
 Indemnified Party: As defined in Section 8(c) hereof. 

Indemnifying Party: As defined in Section 8(c) hereof. 

Indenture: The Indenture, dated as of June 10, 2011, among the Company, the Guarantors and Wells Fargo Bank, National
Association, as trustee (the “Trustee”), pursuant to which the New Securities are to be issued, as such Indenture is amended or supplemented from time to time in accordance with the terms thereof. 

  
 2 

 Initial Placement: The issuance and sale by the Company of the New Securities to the
Initial Purchasers pursuant to the Purchase Agreement. 
 Initial Purchaser: As defined in the preamble hereto.

 Interest Payment Date: As defined in the New Notes and Exchange Notes, as applicable. 

New Notes: As defined in the preamble hereto, but only for so long as such securities constitute Transfer Restricted
Securities. 
 New Securities: The New Notes and the Guarantees attached thereto. 

Person: An individual, partnership, limited liability company, corporation, trust, unincorporated organization or other
legal entity, or a government or agency or political subdivision thereof. 
 Prospectus: The prospectus included
in a Registration Statement, as amended or supplemented by any prospectus supplement and by all other amendments thereto, including post-effective amendments, and all material incorporated by reference into such Prospectus. 

Record Holder: With respect to any Interest Payment Date relating to the Securities of a series on which Additional
Interest is to be paid, each Person who is a Holder of Securities on the record date with respect to the Interest Payment Date on which such Additional Interest Payment Date shall occur. 

Registration Default: As defined in Section 5 hereof. 

Registration Statement: Any Exchange Offer Registration Statement or Shelf Registration Statement, which is filed pursuant
to the provisions of this Agreement, in each case, including the Prospectus included therein, all amendments and supplements thereto (including post-effective amendments) and all exhibits and material incorporated by reference therein. 

Securities: The New Securities and the Exchange Securities. 

Securities Act: The Securities Act of 1933, as amended, including the rules and regulations promulgated thereunder.

 Shelf Filing Deadline: As defined in Section 4 hereof. 

Shelf Registration Statement: As defined in Section 4 hereof. 

Trust Indenture Act: The Trust Indenture Act of 1939, including the rules and regulations promulgated thereunder, in each
case as in effect on the date of the applicable Indenture. 

  
 3 

 Transfer Restricted Securities: Each (i) New Security, until the earliest
to occur of (a) the date on which such Security is exchanged in the Exchange Offer and entitled to be resold to the public by the Holder thereof without complying with the prospectus delivery requirements of the Securities Act and (b) the
date on which such Security has been effectively registered under the Securities Act and disposed of in accordance with a Shelf Registration Statement and (ii) Exchange Security issued to a Broker-Dealer until the date on which such Security
has been distributed by a Broker-Dealer pursuant to the “Plan of Distribution” contemplated by the Exchange Offer Registration Statement (including delivery of the Prospectus contained therein). 

Underwritten Registration or Underwritten Offering: A registration in which securities of the Company are sold to an
underwriter for reoffering to the public. 
 SECTION 2. Securities Subject to this Agreement.

 (a) Transfer Restricted Securities. The securities entitled to the benefits of this Agreement are the Transfer
Restricted Securities. 
 (b) Holders of Transfer Restricted Securities. A Person is deemed to be a holder of Transfer
Restricted Securities (each, a “Holder”) whenever such Person owns Transfer Restricted Securities. 

SECTION 3. Registered Exchange Offer.  

(a) Unless the Exchange Offer shall not be permissible under applicable law or Commission policy (after the procedures set forth in
Section 6(a) below have been complied with), the Company and the Guarantors shall (i) file with the Commission an Exchange Offer Registration Statement with respect to a registered offer to exchange the New Securities for Exchange
Securities under the Indenture in the same aggregate principal amount as and with terms that shall be identical in all respects to the New Securities (except that the Exchange Securities shall not contain terms with respect to the interest rate
step-up provision and transfer restrictions), (ii) use their commercially reasonable efforts to cause such Exchange Offer Registration Statement to become effective under the Securities Act, (iii) in connection with the foregoing, file
(A) all pre-effective amendments to such Exchange Offer Registration Statement as may be necessary in order to cause such Exchange Offer Registration Statement to become effective, (B) if applicable, a Prospectus supplement or
post-effective amendment to such Exchange Offer Registration Statement pursuant to Rule 430A under the Securities Act and (C) cause all necessary filings in connection with the registration and qualification of the Exchange Securities to be
made under the Blue Sky laws of such jurisdictions as are necessary to permit Consummation of the Exchange Offer and (iv) promptly after such Exchange Offer Registration Statement is declared effective, commence the Exchange Offer. The Exchange
Offer Registration Statement shall be on the appropriate form permitting registration of the Exchange Securities to be offered in exchange for the Transfer Restricted Securities and to permit resales of Securities held by Broker-Dealers as
contemplated by Section 3(c) below. 
 (b) If an Exchange Offer Registration Statement is required pursuant to
Section 3(a) above, the Company and the Guarantors shall cause the Exchange Offer Registration Statement to be effective continuously and shall use their commercially reasonable efforts to keep the

  
 4 

 
Exchange Offer open for not less than 30 calendar days (or longer if required by applicable law) after the date notice of the Exchange Offer is mailed to the Holders. The Company and the
Guarantors shall cause each Exchange Offer to comply with all applicable federal and state securities laws. No securities other than the Securities shall be included in the Exchange Offer Registration Statement. If an Exchange Offer Registration
Statement is required pursuant to Section 3(a) above, the Company and the Guarantors shall use their commercially reasonable efforts to Consummate the Exchange Offer, on or prior to the
365th calendar day following the Closing Date. 

(c) The Company shall indicate in a “Plan of Distribution” section contained in the Prospectus forming a part of any Exchange
Offer Registration Statement that any Broker-Dealer who holds New Securities that are Transfer Restricted Securities and that were acquired for its own account as a result of market-making activities or other trading activities (other than Transfer
Restricted Securities acquired directly from the Company), may exchange such New Securities pursuant to the Exchange Offer; however, such Broker-Dealer may be deemed to be an “underwriter” within the meaning of the Securities Act and must,
therefore, deliver a prospectus meeting the requirements of the Securities Act in connection with any resales of the Exchange Securities received by such Broker-Dealer in the Exchange Offer, which prospectus delivery requirement may be satisfied by
the delivery by such Broker-Dealer of the Prospectus contained in the Exchange Offer Registration Statement. Such “Plan of Distribution” section shall also contain all other information with respect to such resales by Broker-Dealers that
the Commission may require in order to permit such resales pursuant thereto, but such “Plan of Distribution” shall not name any such Broker-Dealer or disclose the amount of Securities held by any such Broker-Dealer except to the extent
required by the Commission as a result of a change in policy after the date of this Agreement. 
 If an Exchange Offer
Registration Statement is required pursuant to Section 3(a) above, the Company and the Guarantors shall use their commercially reasonable efforts to keep the Exchange Offer Registration Statement continuously effective, supplemented and amended
as required by the provisions of Section 6(c) below to the extent necessary to ensure that it is available for resales of Securities acquired by Broker-Dealers for their own accounts as a result of market-making activities or other trading
activities, and to ensure that it conforms with the requirements of this Agreement, the Securities Act and the policies, rules and regulations of the Commission as announced from time to time, for a period ending on the earlier of (i) 180 days
from the date on which the Exchange Offer Registration Statement is declared effective and (ii) the date on which Broker-Dealers are no longer required to deliver a prospectus in connection with market-making or other trading activities.

 The Company shall provide sufficient copies of the latest version of such Prospectus to Broker-Dealers promptly upon request
at any time during such 180-day (or shorter as provided in the foregoing sentence) period in order to facilitate such resales. 

SECTION 4. Shelf Registration.  

(a) Shelf Registration. If either (i) the Company and the Guarantors are not required to file an Exchange Offer Registration
Statement or to consummate the Exchange Offer for a series of New Securities because the Exchange Offer is not permitted by applicable law or Commission 

  
 5 

 
policy (after the procedures set forth in Section 6(a) below have been complied with), (ii) for any reason the Exchange Offer for a series of New Securities is not Consummated within
365 calendar days following the Closing Date, or (iii) with respect to any Holder of Transfer Restricted Securities (A) such Holder is prohibited by applicable law or Commission policy from participating in the Exchange Offer,
(B) such Holder may not resell the Exchange Securities acquired by it in the Exchange Offer to the public without delivering a prospectus and the Prospectus contained in the Exchange Offer Registration Statement is not appropriate or available
for such resales by such Holder or (C) such Holder is a Broker-Dealer and holds New Securities acquired directly from the Company or one of its affiliates, then, upon such Holder’s request, the Company and the Guarantors shall: 

(x) cause to be filed, at their expense, a shelf registration statement pursuant to Rule 415 under the
Securities Act, which may be an amendment to the Exchange Offer Registration Statement (in either event, the “Shelf Registration Statement”) as promptly as reasonably practicable, and in any event on or prior to the 30th calendar day after such filing obligation arises (the “Shelf
Filing Deadline”), which Shelf Registration Statement shall provide for resales of all Transfer Restricted Securities the Holders of which shall have provided the information required pursuant to Section 4(b) hereof; and 

(y) use their commercially reasonable efforts to cause such Shelf Registration Statement to be
declared effective under the Securities Act on or before the 120th calendar day after the Shelf Filing Deadline. 
 The Company and the Guarantors
shall keep any such Shelf Registration Statement continuously effective, supplemented and amended as required by the provisions of Sections 6(b) and (c) hereof to the extent necessary to ensure that it is available for resales of Securities by
the Holders of Transfer Restricted Securities entitled to the benefit of this Section 4(a), and to ensure that it conforms with the requirements of this Agreement, the Securities Act and the policies, rules and regulations of the Commission as
announced from time to time, for a period of two years following the effective date of such Shelf Registration Statement (or such shorter period that will terminate when all the Securities covered by such Shelf Registration Statement have been sold
pursuant to such Shelf Registration Statement). 
 (b) Provision by Holders of Certain Information in Connection with the
Shelf Registration Statement. No Holder of Transfer Restricted Securities may include any of its Transfer Restricted Securities in any Shelf Registration Statement pursuant to this Agreement unless and until such Holder furnishes to the Company
in writing, within 20 business days after receipt of a request therefor, such information as the Company may reasonably request for use in connection with any Shelf Registration Statement or Prospectus or preliminary Prospectus included therein.
Each Holder as to which any Shelf Registration Statement is being effected agrees to furnish promptly to the Company all information required to be disclosed in order to make the information previously furnished to the Company by such Holder not
materially misleading. 
 SECTION 5. Additional Interest. If either
(a) the applicable Exchange Offer is not consummated on or prior to the 365th calendar day following the applicable Closing Date, (b) a Shelf Registration Statement applicable to the Securities is not filed or declared effective when

  
 6 

 
required or (c) a Registration Statement applicable to the Securities is declared effective as required but thereafter fails to remain effective or usable in connection with resales for more
than 30 calendar days (each such event referred to in clauses (a) through (c) above, a “Registration Default”), the Company shall pay liquidated damages in the form of additional interest (“Additional
Interest”) in cash to each Holder of Securities in an amount equal to 0.25% per annum of the aggregate principal amount of Securities for the period of occurrence of the Registration Default until such time as no Registration Default
is in effect, which rate shall increase by 0.25% per annum for each subsequent 90-day period during which such Registration Default continues up to a maximum of 0.50% per annum. Following the cure of all Registration Defaults, Additional
Interest will cease to accrue and the interest rate on the Securities will revert to the original rate; provided, however, that, if after the date such Additional Interest ceases to accrue, a different Registration Default occurs,
Additional Interest may again commence accruing pursuant to the foregoing provisions. 
 All obligations of the Company and the
Guarantors set forth in the preceding paragraph that are outstanding with respect to any Transfer Restricted Security at the time such security ceases to be a Transfer Restricted Security shall survive until such time as all such obligations with
respect to such Note shall have been satisfied in full. 
 SECTION 6. Registration Procedures.
 
 (a) Exchange Offer Registration Statement. In connection with each Exchange Offer, the Company and the Guarantors
shall comply with all of the provisions of Section 6(c) below, shall use their commercially reasonable efforts to effect such exchange to permit the sale of Transfer Restricted Securities being sold in accordance with the intended method or
methods of distribution thereof, and shall comply with all of the following provisions: 
 (i) If in the
reasonable opinion of counsel to the Company there is a question as to whether the Exchange Offer is permitted by applicable law, the Company and the Guarantors hereby agree to seek a no-action letter or other favorable decision from the Commission
allowing the Company and the Guarantors to Consummate the Exchange Offer for the New Securities. The Company and the Guarantors each hereby agree to pursue the issuance of such a decision to the Commission staff level but shall not be required to
take commercially unreasonable action to effect a change of Commission policy. The Company and the Guarantors each hereby agree, however, to (A) participate in telephonic conferences with the Commission, (B) deliver to the Commission staff
an analysis prepared by counsel to the Company setting forth the legal bases, if any, upon which such counsel has concluded that such Exchange Offer should be permitted and (C) diligently pursue a favorable resolution by the Commission staff of
such submission. 
 (ii) As a condition to its participation in an Exchange Offer pursuant to the terms of this
Agreement, each Holder of Transfer Restricted Securities shall furnish, upon the request of the Company, prior to the Consummation thereof, a written representation to the Company (which may be contained in the letter of transmittal contemplated by
the Exchange Offer Registration Statement) to the effect that (A) it is not an affiliate of the Company, (B) it is acquiring the Exchange Securities in its ordinary course of business and (C) at the time of the commencement of the
Exchange Offer, it has no arrangement 

  
 7 

 
with any person to participate in the distribution (within the meaning of the Securities Act) of the Exchange Securities to be issued in the Exchange Offer. In addition, all such Holders of
Transfer Restricted Securities shall otherwise cooperate in the Company’s preparations for the Exchange Offer. Each Holder will be required to acknowledge and agree that any Broker-Dealer and any such Holder using the Exchange Offer to
participate in a distribution of the securities to be acquired in the Exchange Offer (1) could not under Commission policy as in effect on the date of this Agreement rely on the position of the Commission staff enunciated in Morgan Stanley and
Co., Inc. (available June 5, 1991) and Exxon Capital Holdings Corporation (available May 13, 1988), as interpreted in the Commission’s letter to Shearman & Sterling dated July 2, 1993, and similar no-action letters
(which may include any no-action letter obtained pursuant to clause (i) above), and (2) must comply with the registration and prospectus delivery requirements of the Securities Act in connection with a secondary resale transaction and that
such a secondary resale transaction should be covered by an effective registration statement containing the selling security holder information required by Item 507 or 508, as applicable, of Regulation S-K if the resales are of Exchange
Securities obtained by such Holder in exchange for New Securities acquired by such Holder directly from the Company. 
 (b)
Shelf Registration Statement. In connection with the Shelf Registration Statement, the Company and the Guarantors shall comply with all the provisions of Section 6(c) below and shall use their commercially reasonable efforts to effect
such registration to permit the sale of the Transfer Restricted Securities being sold in accordance with the intended method or methods of distribution thereof, and pursuant thereto the Company and the Guarantors will as expeditiously as possible
prepare and file with the Commission a Registration Statement relating to the registration on any appropriate form under the Securities Act, which form shall be available for the sale of the Transfer Restricted Securities in accordance with the
intended method or methods of distribution thereof. 
 (c) General Provisions. In connection with any Registration
Statement and any Prospectus required by this Agreement to permit the sale or resale of Transfer Restricted Securities (including, without limitation, any Registration Statement and the related Prospectus required to permit resales of Securities by
Broker-Dealers), the Company and each of the Guarantors shall: 
 (i) use its commercially reasonable efforts to
keep such Registration Statement continuously effective and provide all requisite financial statements (including, if required by the Securities Act or any regulation thereunder, financial statements of the Guarantors) for the period specified in
Section 3 or 4 of this Agreement, as applicable; upon the occurrence of any event that would cause any such Registration Statement or the Prospectus contained therein (A) to contain a material misstatement or omission or (B) not to be
effective and usable for resale of Transfer Restricted Securities during the period required by this Agreement, the Company shall file promptly an appropriate amendment to such Registration Statement, in the case of clause (A), correcting any such
misstatement or omission, and, in the case of either clause (A) or (B), use its commercially reasonable efforts to cause such amendment to be declared effective and such Registration Statement and the related Prospectus to become usable for
their intended purposes as soon as practicable thereafter; 

  
 8 

 (ii) prepare and file with the Commission such amendments and post-effective
amendments to such Registration Statement as may be necessary to keep such Registration Statement effective for the applicable period set forth in Section 3 or 4 hereof, as applicable, or such shorter period as will terminate when all Transfer
Restricted Securities covered by such Registration Statement have been sold; cause the Prospectus to be supplemented by any required Prospectus supplement, and as so supplemented to be filed pursuant to Rule 424 under the Securities Act, and to
comply fully with the applicable provisions of Rules 424 and 430A under the Securities Act in a timely manner; and comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such Registration
Statement during the applicable period in accordance with the intended method or methods of distribution by the sellers thereof set forth in such Registration Statement or supplement to the Prospectus; 

(iii) advise the underwriter(s), if any, and selling Holders promptly and, if requested by such Persons, confirm such
advice in writing, (A) when the Prospectus or any prospectus supplement or post-effective amendment has been filed, and, with respect to any Registration Statement or any post-effective amendment thereto, when the same has become effective,
(B) of any request by the Commission for amendments to the Registration Statement or amendments or supplements to the Prospectus or for additional information relating thereto, (C) of the issuance by the Commission of any stop order
suspending the effectiveness of such Registration Statement under the Securities Act or of the suspension by any state securities commission of the qualification of the Transfer Restricted Securities for offering or sale in any jurisdiction, or the
initiation of any proceeding for any of the preceding purposes or (D) of the existence of any fact or the happening of any event that makes any statement of a material fact made in such Registration Statement, the Prospectus, any amendment or
supplement thereto, or any document incorporated by reference therein untrue, or that requires the making of any additions to or changes in such Registration Statement or the Prospectus in order to make the statements therein not misleading. If at
any time the Commission shall issue any stop order suspending the effectiveness of the Registration Statement, or any state securities commission or other regulatory authority shall issue an order suspending the qualification or exemption from
qualification of the Transfer Restricted Securities under state securities or Blue Sky laws, the Company and the Guarantors shall use their commercially reasonable efforts to obtain the withdrawal or lifting of such order at the earliest possible
time; 
 (iv) furnish without charge to each of the Initial Purchasers, each selling Holder named in any
Registration Statement, and each of the underwriter(s), if any, before filing with the Commission, copies of any Registration Statement or any Prospectus included therein or any amendments or supplements to any such Registration Statement or
Prospectus (including all documents incorporated by reference after the initial filing of such Registration Statement), which documents will be subject to the review of such Holders and underwriter(s) in connection with such sale, if any, for a
period of at least five business days, and the Company will not file any such Registration Statement or 

  
 9 

 
Prospectus or any amendment or supplement to any such Registration Statement or Prospectus (including all such documents incorporated by reference) to which an Initial Purchaser of Transfer
Restricted Securities covered by such Registration Statement or the underwriter(s), if any, shall reasonably object in writing within five business days after the receipt thereof (such objection to be deemed timely made upon confirmation of telecopy
transmission within such period). The objection of an Initial Purchaser or underwriter, if any, shall be deemed to be reasonable if such Registration Statement, amendment, Prospectus or supplement, as applicable, as proposed to be filed, contains a
material misstatement or omission; 
 (v) promptly prior to the filing of any document that is to be incorporated
by reference into a Registration Statement or Prospectus, provide copies of such document to the Initial Purchasers, each selling Holder named in any Registration Statement, and to the underwriter(s), if any, make representatives of the Company and
of the Guarantors available for discussion of such document and other customary due diligence matters, and include such information in such document prior to the filing thereof as such selling Holders or underwriter(s), if any, reasonably may
request; 
 (vi) make available at reasonable times for inspection by the Initial Purchasers, any managing
underwriter participating in any disposition pursuant to such Registration Statement and any attorney or accountant retained by such Initial Purchasers or any of the underwriter(s), all financial and other records, pertinent corporate documents and
properties of the Company and the Guarantors and cause the Company’s and the Guarantors’ officers, directors and employees to supply all information reasonably requested by any such Holder, underwriter, attorney or accountant in connection
with such Registration Statement subsequent to the filing thereof and prior to its effectiveness; 
 (vii) if
requested by any selling Holders or the underwriter(s), if any, promptly incorporate in any Registration Statement or Prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such selling Holders and
underwriter(s), if any, may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Transfer Restricted Securities, information with respect to the principal
amount of Transfer Restricted Securities being sold to such underwriter(s), the purchase price being paid therefor and any other terms of the offering of the Transfer Restricted Securities to be sold in such offering; and make all required filings
of such Prospectus supplement or post-effective amendment as soon as practicable after the Company is notified of the matters to be incorporated in such Prospectus supplement or post-effective amendment; 

(viii) cause the Transfer Restricted Securities covered by such Registration Statement to be rated with the appropriate
rating agencies, if so requested by the Holders of a majority in aggregate principal amount of Securities covered thereby or the underwriter(s), if any; 
 (ix) furnish to each selling Holder and each of the underwriter(s), if any, without charge, at least one copy of such Registration Statement, as first filed with the Commission, and of each amendment
thereto, including financial statements and schedules, all documents incorporated by reference therein and all exhibits (including exhibits incorporated therein by reference); 

  
 10 

 (x) deliver to each selling Holder and each of the underwriter(s), if any,
without charge, as many copies of the Prospectus (including each preliminary prospectus) and any amendment or supplement thereto as such Persons reasonably may request; the Company and the Guarantors hereby consent to the use of the Prospectus and
any amendment or supplement thereto by each of the selling Holders and each of the underwriter(s), if any, in connection with the offering and the sale of the Transfer Restricted Securities covered by the Prospectus or any amendment or supplement
thereto; 
 (xi) enter into, and cause the Guarantors to enter into, such agreements (including an underwriting
agreement), and make, and cause the Guarantors to make, such representations and warranties, and take all such other actions in connection therewith in order to expedite or facilitate the disposition of the Transfer Restricted Securities pursuant to
any Registration Statement contemplated by this Agreement, all to such extent as may be reasonably requested by any Initial Purchaser or by any Holder of Transfer Restricted Securities or underwriter in connection with any sale or resale pursuant to
any Registration Statement contemplated by this Agreement; and whether or not an underwriting agreement is entered into and whether or not the registration is an Underwritten Registration, the Company and the Guarantors shall: 

(A) furnish to each Initial Purchaser, each selling Holder and each underwriter, if any, in such substance and scope as
they may request and as are customarily made by issuers to underwriters in primary underwritten offerings, upon the date of the Consummation of the Exchange Offer and the effectiveness of the Shelf Registration Statement, as applicable: 

(1) a certificate, dated the date of Consummation of the Exchange Offer or the date of effectiveness of the Shelf
Registration Statement, as the case may be, signed by (y) the President or any Vice President and (z) a principal financial or accounting officer of each of the Company and the Guarantors, confirming, as of the date thereof, such matters
as such parties may reasonably request; 
 (2) opinions, dated the date of effectiveness of the Shelf
Registration Statement of counsel for the Company and the Guarantors and of counsel of the Company and the Guarantors, covering such matters as such parties may reasonably request, and in any event including a statement to the effect counsel for the
Company and the Guarantors has participated in conferences with officers and other representatives of the Company, representatives of the independent public accountants for the Company, the Initial Purchasers’ representatives and the Initial
Purchasers’ counsel in connection with the preparation of such Shelf Registration Statement and the related Prospectus and have considered the matters required to be stated therein and the statements contained therein, although such counsel has
not independently verified the accuracy, 

  
 11 

 
completeness or fairness of such statements; and that such counsel advises that, on the basis of the foregoing, no facts came to such counsel’s attention that caused such counsel to believe
that the Shelf Registration Statement, at the time such Shelf Registration Statement or any post-effective amendment thereto became effective, contained an untrue statement of a material fact or omitted to state a material fact required to be stated
therein or necessary to make the statements therein not misleading, or that the Prospectus contained in such Shelf Registration Statement as of its date, contained an untrue statement of a material fact or omitted to state a material fact necessary
in order to make the statements therein, in light of the circumstances under which they were made, not misleading. Without limiting the foregoing, such counsel may state further that such counsel assumes no responsibility for, and has not
independently verified, the accuracy, completeness or fairness of the financial statements, notes and schedules and other financial data included in any Shelf Registration Statement contemplated by this Agreement or the related Prospectus; and

 (3) a customary comfort letter, dated as of the date of effectiveness of the Shelf Registration Statement, as
the case may be, from the Company’s independent accountants, in the customary form and covering matters of the type customarily covered in comfort letters by underwriters in connection with primary underwritten offerings, and affirming the
matters set forth in the comfort letters delivered pursuant to Sections 5(e) of the Purchase Agreement, without exception; 
 (B) set forth in full or incorporate by reference in the underwriting agreement, if any, the indemnification provisions and procedures of Section 8 hereof with respect to all parties to be
indemnified pursuant to said Section; and 
 (C) deliver such other documents and certificates as may be
reasonably requested by such parties to evidence compliance with clause (A) above and with any customary conditions contained in the underwriting agreement or other agreement entered into by the Company or the Guarantors pursuant to this clause
(xi), if any. 
 If at any time the representations and warranties of the Company and the Guarantors contemplated
in clause (A)(1) above cease to be true and correct, the Company or the Guarantors shall so advise the Initial Purchasers and the underwriter(s), if any, and each selling Holder promptly and, if requested by such Persons, shall confirm such advice
in writing; 
 (xii) prior to any public offering of Transfer Restricted Securities, cooperate with the selling
Holders, the underwriter(s), if any, and their respective counsel in connection with the registration and qualification of the Transfer Restricted Securities under the securities or Blue Sky laws of such jurisdictions as the selling Holders or
underwriter(s) may request and do any and all other acts or things necessary or advisable to enable the 

  
 12 

 
disposition in such jurisdictions of the Transfer Restricted Securities covered by the Shelf Registration Statement; provided, however, that neither the Company nor any Guarantor shall be
required to register or qualify as a foreign corporation where it is not then so qualified or to take any action that would subject it to the service of process in suits or to taxation, other than as to matters and transactions relating to the
Registration Statement, in any jurisdiction where it is not then so subject; 
 (xiii) shall issue, upon the
request of any Holder of New Securities covered by the Shelf Registration Statement, Exchange Securities of the same series, having an aggregate principal amount equal to the aggregate principal amount of New Securities surrendered to the Company by
such Holder in exchange therefor or being sold by such Holder; such Exchange Securities to be registered in the name of such Holder or in the name of the purchasers of such Securities, as the case may be; in return, the New Securities held by such
Holder shall be surrendered to the Company for cancellation; 
 (xiv) cooperate with the selling Holders and the
underwriter(s), if any, to facilitate the timely preparation and delivery of certificates representing Transfer Restricted Securities to be sold and not bearing any restrictive legends; and enable such Transfer Restricted Securities to be in such
denominations and registered in such names as the Holders or the underwriter(s), if any, may request at least two business days prior to any sale of Transfer Restricted Securities made by such underwriter(s); 

(xv) use its commercially reasonable efforts to cause the Transfer Restricted Securities covered by such Registration
Statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the seller or sellers thereof or the underwriter(s), if any, to consummate the disposition of such Transfer Restricted
Securities, subject to the proviso contained in clause (xii) above; 
 (xvi) if any fact or event
contemplated by clause (c)(iii)(D) above shall exist or have occurred, prepare a supplement or post-effective amendment to such Registration Statement or related Prospectus or any document incorporated therein by reference or file any other required
document so that, as thereafter delivered to the purchasers of Transfer Restricted Securities, the Prospectus will not contain an untrue statement of a material fact or omit to state any material fact necessary to make the statements therein not
misleading; 
 (xvii) provide a CUSIP number for all Transfer Restricted Securities not later than the effective
date of such Registration Statement and provide the Trustee under the Indenture with printed certificates for the Transfer Restricted Securities which are in a form eligible for deposit with The Depository Trust Company; 

(xviii) cooperate and assist in any filings required to be made with FINRA and in the performance of any due diligence
investigation by any underwriter (including any “qualified independent underwriter”) that is required to be retained in accordance with the rules and regulations of FINRA, and use its commercially reasonable efforts to cause such
Registration Statement to become effective and approved by such governmental agencies or authorities as may be necessary to enable the Holders selling Transfer Restricted Securities to consummate the disposition of such Transfer Restricted
Securities; 

  
 13 

 (xix) otherwise use its commercially reasonable efforts to comply with all
applicable rules and regulations of the Commission, and make generally available to its security holders, as soon as practicable, a consolidated earnings statement meeting the requirements of Rule 158 (which need not be audited) for the twelve-month
period (A) commencing at the end of any fiscal quarter in which Transfer Restricted Securities are sold to underwriters in a firm or commercially reasonable best efforts Underwritten Offering or (B) if not sold to underwriters in such an
offering, beginning with the first month of the Company’s first fiscal quarter commencing after the effective date of such Registration Statement; 
 (xx) cause each Indenture to be qualified under the Trust Indenture Act not later than the effective date of the first Registration Statement required by this Agreement, and, in connection therewith,
cooperate with the Trustee and the Holders of Securities to effect such changes to the Indenture as may be required for such Indenture to be so qualified in accordance with the terms of the Trust Indenture Act; and execute and use its commercially
reasonable efforts to cause the Trustee to execute, all documents that may be required to effect such changes and all other forms and documents required to be filed with the Commission to enable such Indenture to be so qualified in a timely manner;

 (xxi) cause all Transfer Restricted Securities covered by the Registration Statement to be listed on each
securities exchange on which similar securities issued by the Company are then listed if requested by the Holders of a majority in aggregate principal amount of New Securities or the managing underwriter(s), if any; and 

(xxii) provide promptly to each Holder upon request each document filed with the Commission pursuant to the requirements
of Section 13 and Section 15 of the Exchange Act. 
 Each Holder agrees by acquisition of a Transfer Restricted
Security that, upon receipt of any notice from the Company of the existence of any fact of the kind described in Section 6(c)(iii)(D) hereof, such Holder will forthwith discontinue disposition of Transfer Restricted Securities pursuant to the
applicable Registration Statement until such Holder’s receipt of the copies of the supplemented or amended Prospectus contemplated by Section 6(c)(xvi) hereof, or until it is advised in writing (the “Advice”) by the
Company that the use of the Prospectus may be resumed, and has received copies of any additional or supplemental filings that are incorporated by reference in the Prospectus. If so directed by the Company, each Holder will deliver to the Company (at
the Company’s expense) all copies, other than permanent file copies then in such Holder’s possession, of the Prospectus covering such Transfer Restricted Securities that was current at the time of receipt of such notice. In the event the
Company shall give any such notice, the time period regarding the effectiveness of such Registration Statement set forth in Section 3 or 4 hereof, as applicable, shall be extended by the number of days during the period from and including the
date of the giving of such notice pursuant to Section 6(c)(iii)(D) hereof to and including the date when each selling Holder covered by such Registration Statement shall have received the copies of the supplemented or amended Prospectus
contemplated by Section 

  
 14 

 
6(c)(xvi) hereof or shall have received the Advice; however, no such extension shall be taken into account in determining whether Additional Interest is due pursuant to Section 5 hereof or
the amount of such Additional Interest, it being agreed that the Company’s option to suspend use of a Registration Statement pursuant to this paragraph shall be treated as a Registration Default for purposes of Section 5. 

SECTION 7. Registration Expenses.  

(a) All expenses incident to the Company’s and the Guarantors’ performance of or compliance with this Agreement will be borne by
the Company or the Guarantors, regardless of whether a Registration Statement becomes effective, including without limitation: (i) all registration and filing fees and expenses (including filings made by any Initial Purchaser or Holder with
FINRA (and, if applicable, the fees and expenses of any “qualified independent underwriter” and its counsel that may be required by the rules and regulations of FINRA)); (ii) all fees and expenses of compliance with federal securities
and state Blue Sky or securities laws; (iii) all expenses of printing (including printing certificates for the Exchange Securities to be issued in the Exchange Offer and printing of Prospectuses), messenger and delivery services and telephone;
(iv) all fees and disbursements of counsel for the Company, the Guarantors and, subject to Section 7(b) below, the Holders of Transfer Restricted Securities; (v) all application and filing fees in connection with listing the Exchange
Securities on a national securities exchange or automated quotation system pursuant to the requirements thereof; and (vi) all fees and disbursements of independent certified public accountants of the Company and the Guarantors (including the
expenses of any special audit and comfort letters required by or incident to such performance). 
 The Company will, in any
event, bear its internal expenses (including, without limitation, all salaries and expenses of its officers and employees performing legal or accounting duties), the expenses of any annual audit and the fees and expenses of any Person, including
special experts, retained by the Company. 
 (b) In connection with any Registration Statement required by this Agreement
(including, without limitation, the Exchange Offer Registration Statement and the Shelf Registration Statement), the Company will reimburse the Initial Purchasers and the Holders of Transfer Restricted Securities being tendered in the Exchange Offer
and/or resold pursuant to the “Plan of Distribution” contained in the Exchange Offer Registration Statement or registered pursuant to the Shelf Registration Statement, as applicable, for the reasonable fees and disbursements of not more
than one counsel, who shall be White & Case LLP or such other counsel as may be chosen by the Holders of a majority in principal amount of the Transfer Restricted Securities for whose benefit such Registration Statement is being prepared.

 SECTION 8. Indemnification. 

(a) The Company and each Guarantor agrees, jointly and severally, to indemnify and hold harmless each Holder, its directors, officers and
each Person, if any, who controls such Holder (within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act), and each affiliate of any Holder within the meaning of Rule 405 under the Securities Act from and
against any and all losses, claims, damages and liabilities (including without limitation, 

  
 15 

 
any legal or other expenses reasonably incurred in connection with defending or investigating any such action or claim) caused by any untrue statement or alleged untrue statement of a material
fact contained or incorporated by reference in any Registration Statement, preliminary prospectus, Prospectus, Free Writing Prospectus or any “issuer information” (as defined in Rule 433 of the Securities Act) filed or required to be filed
pursuant to Rule 433(d) under the Securities Act or in any amendment or supplement thereto, or caused by any omission or alleged omission to state therein a material fact necessary to make the statements therein, in the light of the circumstances
under which they were made, not misleading, except insofar as such losses, claims, damages or liabilities are caused by any such untrue statement or omission or alleged untrue statement or omission that is based upon information relating to any of
the Holders furnished in writing to the Company expressly for use therein by or on behalf of any of the Holders. 
 (b) Each
Holder agrees, severally and not jointly, to indemnify and hold harmless the Company, each Guarantor, their respective directors, its officers, and each Person, if any, who controls the Company or the Guarantors (within the meaning of
Section 15 of the Securities Act or Section 20 of the Exchange Act) to the same extent as the foregoing indemnity from the Company and the Guarantors set forth in section (a) above, but only with reference to information relating to
such Holder furnished in writing to the Company and the Guarantors by or on behalf of such Holder expressly for use in any Registration Statement, preliminary prospectus, Prospectus or Free Writing Prospectus. 

(c) In case any proceeding (including any governmental investigation) shall be instituted involving any Person in respect of which
indemnity may be sought pursuant to Section 8(a) or 8(b), such Person (the “Indemnified Party”), shall promptly notify the Person against whom such indemnity may be sought (the “Indemnifying
Party”) in writing and the Indemnifying Party, upon request of the Indemnified Party, shall retain counsel reasonably satisfactory to the Indemnified Party to represent the Indemnified Party and any others the Indemnifying Party may
designate in such proceeding and shall pay the fees and disbursements of such counsel related to such proceeding. In any such proceeding, any Indemnified Party shall have the right to retain its own counsel, but the fees and expenses of such counsel
shall be at the expense of such Indemnified Party unless (i) the Indemnifying Party and the Indemnified Party shall have mutually agreed to the retention of such counsel, (ii) the Indemnifying Party has failed to assume the defense of such
action or employ counsel reasonably satisfactory to the Indemnified Party, or (iii) the named parties to any such proceeding (including any impleaded parties) include both the Indemnifying Party and the Indemnified Party and representation of
both parties by the same counsel would be inappropriate due to actual or potential differing interests between them. It is understood that the Indemnifying Party shall not, in respect of the legal expenses of any Indemnified Party in connection with
any proceeding or related proceeding in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to any local counsel) for all such indemnified parties and that all such fees and expenses shall be
reimbursed as they are incurred. Such firm shall be designated in writing by a majority of the Holders, in the case of the parties indemnified pursuant to Section 8(a), and by the Company and Guarantors, in the case of parties indemnified
pursuant to Section 8(b). The Indemnifying Party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the Indemnifying

  
 16 

 
Party agrees to indemnify and hold harmless the Indemnified Party from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at
any time an Indemnified Party shall have requested an Indemnifying Party to reimburse the Indemnified Party for fees and expenses of counsel as contemplated by the second and third sentences of this paragraph, the Indemnifying Party agrees that it
shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by such Indemnifying Party of the aforesaid request and (ii) such Indemnifying
Party shall not have reimbursed the Indemnified Party in accordance with such request prior to the date of such settlement. No Indemnifying Party shall, without the prior written consent of the Indemnified Party, effect any settlement of any pending
or threatened proceeding in respect of which any Indemnified Party is or could have been a party and indemnity or contribution may be or could have been sought hereunder by such Indemnified Party, unless such settlement, (i) includes an
unconditional release of such Indemnified Party from all liability on claims that are or could have been the subject matter of such proceeding and (ii) does not include a statement as to or an admission of fault, culpability or a failure to
act, by or on behalf of the Indemnified Party. 
 (d) To the extent that the indemnification provided for in this Section 8
is unavailable to an Indemnified Party or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each Indemnifying Party under such paragraph, in lieu of indemnifying such Indemnified Party thereunder, shall
contribute to the amount paid or payable by such Indemnified Party as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Company and the Guarantors,
on the one hand, and the Holders, on the other hand, from their sale of Transfer Restricted Securities, or (ii) if the allocation provided by clause 8(d)(i) above is not permitted by applicable law, in such proportion as is appropriate to
reflect not only the relative benefits referred to in clause 8(d)(i) above but also the relative fault of the Company and the Guarantors, on the one hand, and of the Holder, on the other hand, in connection with the statements or omissions that
resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative fault of the Company and the Guarantors, on the one hand, and of the Holder, on the other hand, shall be determined by
reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Company or such Guarantor, on the one hand, or by
the Holder, on the other hand, and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The amount paid or payable by a party as a result of the losses, claims, damages
or liabilities referred to above shall be deemed to include, subject to the limitations set forth in Section 8(c) hereof, any legal or other fees or expenses reasonably incurred by such party in connection with investigating or defending any
action or claim. 
 (e) The Company, the Guarantors and each Holder agree that it would not be just and equitable if
contribution pursuant to this Section 8 were determined by pro rata allocation (even if the Holders were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations
referred to in Section 8(d). The amount paid or payable by an Indemnified Party as a result of the losses, claims, damages or liabilities referred to in Section 8(d) shall be deemed to include, subject to the limitations set

  
 17 

 
forth above, any legal or other expenses reasonably incurred by such Indemnified Party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of
this Section 8, no Holder, its directors, its officers or any Person, if any, who controls such Holder shall be required to contribute, in the aggregate, any amount in excess of the amount by which the total amount received by such Holder with
respect to the sale of Transfer Restricted Securities pursuant to a Registration Statement exceeds the sum of: (i) the amount paid by such Holder for such Transfer Restricted Securities plus (ii) the amount of any damages that such Holder
has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be
entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. The remedies provided for in this Section 8 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any
Indemnified Party at law or in equity. The Holders’ obligations to contribute pursuant to this Section 8 are several in proportion to the respective principal amount of Transfer Restricted Securities held by each Holder hereunder and not
joint. 
 SECTION 9. Rule 144A. Each of the Company and the Guarantors hereby agrees with each
Holder, for so long as any Transfer Restricted Securities remain outstanding, to make available to any Holder or beneficial owner of Transfer Restricted Securities in connection with any sale thereof and any prospective purchaser of such Transfer
Restricted Securities from such Holder or beneficial owner, the information required by Rule 144A(d)(4) under the Securities Act in order to permit resales of such Transfer Restricted Securities pursuant to Rule 144A. 

SECTION 10. Participation In Underwritten Registrations. No Holder may participate in any Underwritten
Registration hereunder unless such Holder (a) agrees to sell such Holder’s Transfer Restricted Securities on the basis provided in any underwriting arrangements approved by the Persons entitled hereunder to approve such arrangements and
(b) completes and executes all reasonable questionnaires, powers of attorney, indemnities, underwriting agreements, lock-up letters and other documents required under the terms of such underwriting arrangements. 

SECTION 11. Selection Of Underwriters. The Holders of Transfer Restricted Securities covered by the
Shelf Registration Statement who desire to do so may sell such Transfer Restricted Securities in an Underwritten Offering. In any such Underwritten Offering, the investment banker or investment bankers and manager or managers that will administer
the offering will be selected by the Holders of a majority in aggregate principal amount of the Transfer Restricted Securities included in such offering; provided that such investment bankers and managers must be reasonably satisfactory to
the Company. 
 SECTION 12. Miscellaneous.  

(a) Remedies. The Company and the Guarantors each hereby agree that monetary damages would not be adequate compensation for any
loss incurred by reason of a breach by it of the provisions of this Agreement and hereby agree to waive the defense in any action for specific performance that a remedy at law would be adequate. 

  
 18 

 (b) Free Writing Prospectus. The Company represents, warrants and covenants that it
(including its agents and representatives) will not prepare, make, use, authorize, approve or refer to any “written communication” (as defined in Rule 405 under the Securities Act) in connection with each offer to sell or solicitation of
an offer to buy the New Notes or the Exchange Notes, other than (i) any communication pursuant to Rule 134, Rule 135 or Rule 135c under the Securities Act, (ii) any document constituting an offer to sell or solicitation of an offer to buy
the New Notes or the Exchange Notes that falls within the exception from the definition of prospectus in Section 2(a)(10)(a) of the Securities Act, or (iii) a prospectus satisfying the requirements of Section 10(a) of the Securities
Act or of Rule 430, Rule 430A, Rule 430B, Rule 430C or Rule 431 under the Securities Act. 
 (c) No Inconsistent Agreements.
The Company and the Guarantors will not, on or after the date of this Agreement, enter into any agreement with respect to their securities that is inconsistent with the rights granted to the Holders in this Agreement or otherwise conflicts with
the provisions hereof. Except for this Agreement, neither the Company nor the Guarantors have entered into any agreement granting any registration rights with respect to its securities to any Person that would require such securities to be included
in any Registration Statement contemplated by this Agreement. The rights granted to the Holders hereunder do not in any way conflict with and are not inconsistent with the rights granted to the holders of the Company’s or the Guarantors’
securities under any agreement in effect on the date hereof. 
 (d) Adjustments Affecting the Securities. The Company and
the Guarantors will not take any action, or permit any change to occur, with respect to the Securities that would materially and adversely affect the ability of the Holders to Consummate any Exchange Offer. 

(e) Amendments and Waivers. The provisions of this Agreement may not be amended, modified or supplemented, and waivers or consents
to or departures from the provisions hereof may not be given unless the Company has obtained the written consent of Holders of a majority of the outstanding principal amount of Transfer Restricted Securities affected thereby. Notwithstanding the
foregoing, a waiver or consent to departure from the provisions hereof that relates exclusively to the rights of Holders whose securities are being tendered pursuant to an Exchange Offer and that does not affect directly or indirectly the rights of
other Holders whose securities are not being tendered pursuant to such Exchange Offer may be given by the Holders of a majority of the outstanding principal amount of Transfer Restricted Securities being tendered or registered; provided that,
with respect to any matter that directly or indirectly affects the rights of any Initial Purchaser hereunder, the Company shall obtain the written consent of each such Initial Purchaser with respect to which such amendment, qualification,
supplement, waiver, consent or departure is to be effective. 
 (f) Notices. All notices and other communications
provided for or permitted hereunder shall be made in writing by hand-delivery, first-class mail (registered or certified, return receipt requested), telex, telecopier, or air courier guaranteeing overnight delivery: 

(i) if to a Holder, at the address set forth on the records of the Registrar under the applicable Indenture, with a copy
to the Registrar under the applicable Indenture; and 

  
 19 

 (ii) if to the Company or the Guarantors: 

W&T Offshore, Inc. 
 Nine Greenway Plaza, Suite 300 
 Houston, Texas 77046 

Fax: 713-626-8527 
 Attention: John D. Gibbons 
 With a copy to: 

Vinson & Elkins LLP 
 First City Tower 
 1001 Fannin Street, Suite 2500 

Houston, Texas 77002 
 Fax: 713-615-5962 
 Attention: James M. Prince 

All such notices and communications shall be deemed to have been duly given: at the time delivered by hand, if personally delivered; five
business days after being deposited in the mail, postage prepaid, if mailed; when answered back, if telexed; when receipt acknowledged, if telecopied; and on the next business day, if timely delivered to an air courier guaranteeing overnight
delivery. 
 Copies of all such notices, demands or other communications shall be concurrently delivered by the Person giving
the same to the Trustee at the address specified in the Indenture. 
 (g) Successors and Assigns. This Agreement shall
inure to the benefit of and be binding upon the successors and assigns of each of the parties, including without limitation and without the need for an express assignment, subsequent Holders of Transfer Restricted Securities; provided,
however, that this Agreement shall not inure to the benefit of or be binding upon a successor or assign of a Holder unless and to the extent such successor or assign acquired Transfer Restricted Securities from such Holder. 

(h) Counterparts. This Agreement may be executed in any number of counterparts and by the parties hereto in separate counterparts,
each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. 
 (i) Headings. The headings in this Agreement are for convenience of reference only and shall not limit or otherwise affect the meaning hereof. 

(j) Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT
REGARD TO THE CONFLICT OF LAW RULES THEREOF. 
 (k) Severability. In the event that any one or more of the provisions
contained herein, or the application thereof in any circumstance, is held invalid, illegal or unenforceable, the validity, legality and enforceability of any such provision in every other respect and of the remaining provisions contained herein
shall not be affected or impaired thereby. 

  
 20 

 (l) Entire Agreement. This Agreement together with the Purchase Agreement, the
Indenture, the Securities and the Exchange Securities are intended by the parties as a final expression of their agreement and intended to be a complete and exclusive statement of the agreement and understanding of the parties hereto in respect of
the subject matter contained herein. There are no restrictions, promises, warranties or undertakings, other than those set forth or referred to herein with respect to the registration rights granted by the Company with respect to the Transfer
Restricted Securities. This Agreement supersedes all prior agreements and understandings between the parties with respect to such subject matter. 

  
 21 

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

					
	W&T OFFSHORE, INC.
		
	By:	 	/s/ John D. Gibbons
		 	Name:	 	John D. Gibbons
		 	Title:	 	Senior Vice President, Chief Financial Officer and Chief Accounting Officer
	
	W&T ENERGY VI, LLC
	
	W&T ENERGY VII, LLC
		
	By:	 	/s/ Thomas F. Getten
		 	Name:	 	Thomas F. Getten
		 	Title:	 	Authorized Representative

 The foregoing Registration Rights Agreement is hereby confirmed and accepted as of the date
first above written: 
  

			
	MORGAN STANLEY & CO. LLC,
		
		 	 Acting on behalf of themselves

and as the Representative of
 the several Initial
Purchasers

	
	MORGAN STANLEY & CO. LLC
		
	By:	 	/s/ Henrik Z. Sandstrom
		 	 Name: Henrik Z. Sandstrom

Title: Authorized Signatory

 Schedule A 

GUARANTORS 
  

			
	 Name of Guarantor
	  	 Jurisdiction of Formation

	 W&T Energy VI, LLC
	  	Delaware
		
	 W&T Energy VII, LLC
	  	Delaware

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00209-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00209-of-00352.parquet"}]]