Document:

EX-4.4

 Exhibit 4.4 
 2013 MICROVISION, INC. INCENTIVE PLAN 
  

	1.	DEFINED TERMS 

 Exhibit
A, which is incorporated by reference, defines the terms used in the Plan and sets forth certain operational rules related to those terms. 
  

	2.	EFFECTIVE DATE 

 This
2013 MicroVision, Inc. Incentive Plan, amends, restates and renames the Company’s 2006 MicroVision, Inc. Incentive Plan. The Plan was originally adopted by the Board in April 2006 and approved by the stockholders of the Company in September
2006. This amendment and restatement of the Plan shall become effective if, and at such time as, the stockholders of the Company have approved this amendment and restatement. 

 

	3.	PURPOSE 

 The purpose of
the Plan is to provide means by which the Company may attract, reward and retain the services or advice of current or future employees, officers, consultants or independent contractors of, and other advisors to, the Company and to provide added
incentives to them by encouraging stock ownership in the Company. 
  

	4.	ADMINISTRATION 

 The
Administrator has discretionary authority, subject only to the express provisions of the Plan, to interpret the Plan; determine eligibility for and grant Awards; determine, modify or waive the terms and conditions of any Award; prescribe forms,
rules and procedures; and otherwise do all things necessary to carry out the purposes of the Plan. In the case of any Award intended to be eligible for the performance-based compensation exception under Section 162(m), the Administrator will
exercise its discretion consistent with qualifying the Award for that exception. Determinations of the Administrator made under the Plan will be conclusive and will bind all parties. 

 

	5.	LIMITS ON AWARDS UNDER THE PLAN 

  

	 	a.	 Number of Shares. A maximum of 4,350,000 shares of Stock may be delivered in satisfaction of Awards under the Plan. The number of shares
of Stock delivered in satisfaction of Awards shall, for purposes of the preceding sentence, be determined net of shares of Stock withheld by the Company in payment of the exercise price of the Award or in satisfaction of tax withholding requirements
with respect to the Award. The limit set forth in this Section 5(a) shall be construed to comply with Section 422 of the Code and regulations thereunder. To the extent consistent with the requirements of Section 422 of the Code and
regulations thereunder, and with other applicable legal requirements (including applicable stock exchange requirements), Stock issued under awards of an acquired company that are converted, replaced, or adjusted in connection with the acquisition
shall not reduce the number of shares available for Awards under the Plan. 

  
 1 

	 	b.	Type of Shares. Stock delivered by the Company under the Plan may be authorized but unissued Stock or previously issued Stock acquired by the Company. No
fractional shares of Stock will be delivered under the Plan. 

  

	 	c.	Section 162(m) Limits. The maximum number of shares of Stock for which Stock Options may be granted to any person in any calendar year and the
maximum number of shares of Stock subject to SARs granted to any person in any calendar year will each be 250,000. The maximum number of shares subject to other Awards granted to any person in any calendar year will be 250,000 shares. The maximum
amount payable to any person in any year under Cash Awards will be $3,000,000. The foregoing provisions will be construed in a manner consistent with Section 162(m). 

 

	6.	ELIGIBILITY AND PARTICIPATION 

 The Administrator may grant Awards to any current or future Employee, officer, director, consultant or independent contractor of, or other advisor to, the Company or its subsidiaries. Eligibility for ISOs
is limited to employees of the Company or of a “parent corporation” or “subsidiary corporation” of the Company as those terms are defined in Section 424 of the Code. 

 

	7.	RULES APPLICABLE TO AWARDS 

  

	 	a.	All Awards  

  

	 	1.	Award Provisions. The Administrator will determine the terms of all Awards, subject to the limitations provided herein. By accepting any Award granted
hereunder, the Participant agrees to the terms of the Award and the Plan. Notwithstanding any provision of this Plan to the contrary, awards of an acquired company that are converted, replaced or adjusted in connection with the acquisition may
contain terms and conditions that are inconsistent with the terms and conditions specified herein, as determined by the Administrator. 

  

	 	2.	Term of Plan. No Awards may be made after June 6, 2023, but previously granted Awards may continue beyond that date in accordance with their
terms. 

  

	 	3.	Transferability. Neither ISOs nor, except as the Administrator otherwise expressly provides, other Awards may be transferred other than by will or by the
laws of descent and distribution, and during a Participant’s lifetime ISOs (and, except as the Administrator otherwise expressly provides, other non-transferable Awards requiring exercise) may be exercised only by the Participant.

  
 2 

	 	4.	Vesting, Etc. The Administrator may determine the time or times at which an Award will vest or become exercisable and the terms on
which an Award requiring exercise will remain exercisable. Without limiting the foregoing, the Administrator may at any time accelerate the vesting or exercisability of an Award, regardless of any adverse or potentially adverse tax consequences
resulting from such acceleration. Unless the Administrator expressly provides otherwise, however, the following rules will apply: immediately upon the cessation of the Participant’s Employment, each Award requiring exercise that is then held by
the Participant or by the Participant’s permitted transferees, if any, will cease to be exercisable and will terminate, and all other Awards that are then held by the Participant or by the Participant’s permitted transferees, if any, to
the extent not already vested will be forfeited, except that: 

  

	 	A.	subject to (B) and (C) below, all Stock Options and SARs held by the Participant or the Participant’s permitted transferees, if any, immediately prior to
the cessation of the Participant’s Employment, to the extent then exercisable, will remain exercisable for the lesser of (i) a period of three months or (ii) the period ending on the latest date on which such Stock Option or SAR could
have been exercised without regard to this Section 7(a)(4), and will thereupon terminate; 

  

	 	B.	all Stock Options and SARs held by a Participant or the Participant’s permitted transferees, if any, immediately prior to the Participant’s death or
Disability, to the extent then exercisable, will remain exercisable for the lesser of (i) the one year period ending with the first anniversary of the Participant’s death or Disability or (ii) the period ending on the latest date on
which such Stock Option or SAR could have been exercised without regard to this Section 7(a)(4), and will thereupon terminate; and 

  

	 	C.	all Stock Options and SARs held by a Participant or the Participant’s permitted transferees, if any, immediately prior to the cessation of the Participant’s
Employment will immediately terminate upon such cessation if the Administrator in its sole discretion determines that such cessation of Employment has resulted for reasons which cast such discredit on the Participant as to justify immediate
termination of the Award. 

  

	 	5.	Taxes. The Administrator will make such provision for the withholding of taxes as it deems necessary. The Administrator may, but need not, hold back
shares of Stock from an Award or permit a Participant to tender previously owned shares of Stock in satisfaction of tax withholding requirements (but not in excess of the minimum withholding required by law). 

  
 3 

	 	6.	Dividend Equivalents, Etc. The Administrator may provide for the payment of amounts in lieu of cash dividends or other cash distributions with respect to
Stock subject to an Award. Any entitlement to dividend equivalents or similar entitlements shall be established and administered consistent either with exemption from, or compliance with, the requirements of Section 409A to the extent
applicable. 

  

	 	7.	Foreign Qualified Grants. Awards under this Plan may be granted to officers and Employees of the Company and other persons described in Section 6 who
reside in foreign jurisdictions as the Administrator may determine from time to time. The Administrator may adopt supplements to the Plan as needed to comply with the applicable laws of such foreign jurisdictions and to give Participants favorable
treatment under such laws; provided, however that no award shall be granted under any such supplement on terms more beneficial to such Participants than those permitted by this Plan. 

 

	 	8.	Corporate Mergers, Acquisitions, Etc. The Administrator may grant Awards under this Plan having terms, conditions and provisions that vary from those
specified in this Plan provided that such Awards are granted in substitution for, or in connection with the assumption of, existing Awards granted or issued by another corporation and assumed or otherwise agreed to be provided for by the Company
pursuant to or by reason of a transaction involving a corporate merger, consolidation, acquisition of property or stock, reorganization or liquidation to which the Company is a party. 

 

	 	9.	Rights Limited. Nothing in the Plan will be construed as giving any person the right to continued employment or service with the Company or its
Affiliates, or any rights as a stockholder except as to shares of Stock actually issued under the Plan. The loss of existing or potential profit in Awards will not constitute an element of damages in the event of termination of Employment for any
reason, even if the termination is in violation of an obligation of the Company or Affiliate to the Participant. 

  

	 	10.	 Section 162(m). This Section 7(a)(10) applies to any Performance Award intended to qualify as performance-based for the
purposes of Section 162(m) other than a Stock Option or SAR. In the case of any Performance Award to which this Section 7(a)(10) applies, the Plan and such Award will be construed to the maximum extent permitted by law in a manner
consistent with qualifying the Award for such exception. With respect to such Performance Awards, the Administrator will preestablish, in writing, one or more specific Performance Criteria no later than 90 days after the commencement of the period
of service to which the performance relates (or at such earlier time as is required to qualify the Award as performance-based under Section 162(m)). Prior to grant, vesting or payment of the Performance Award, as the case may be, the
Administrator will certify 

  
 4 

	 	
whether the applicable Performance Criteria have been attained and such determination will be final and conclusive. No Performance Award to which this Section 7(a)(10) applies may be granted
after the first meeting of the stockholders of the Company held in 2018 until the listed performance measures set forth in the definition of “Performance Criteria” (as originally approved or as subsequently amended) have been resubmitted
to and reapproved by the stockholders of the Company in accordance with the requirements of Section 162(m) of the Code, unless such grant is made contingent upon such approval. 

 

	 	b.	Awards Requiring Exercise  

  

	 	1.	Time And Manner Of Exercise. Unless the Administrator expressly provides otherwise, an Award requiring exercise by the holder will not be deemed to
have been exercised until the Administrator receives a notice of exercise (in form acceptable to the Administrator) signed by the appropriate person and accompanied by any payment required under the Award. If the Award is exercised by any person
other than the Participant, the Administrator may require satisfactory evidence that the person exercising the Award has the right to do so. Awards may be exercised in whole or in part. 

 

	 	2.	Exercise Price. The exercise price (or the base value from which appreciation is to be measured) of each Award requiring exercise shall be 100% (in the
case of an ISO granted to a ten-percent shareholder within the meaning of Section 422(b)(6) of the Code, 110%) of the fair market value of the Stock subject to the Award, determined as of the date of grant, or such higher amount as the
Administrator may determine in connection with the grant. Fair market value shall be determined by the Administrator consistent with the requirements of Section 422 and Section 409A. Without the affirmative vote of holders of
a majority of the shares of Stock cast in person or by proxy at a meeting of the stockholders of the Company at which a quorum representing a majority of all outstanding shares of Stock is present or represented by proxy, the Committee
shall not approve a program providing for either (a) the cancellation of outstanding Awards requiring exercise and the grant in substitution therefor of new Awards having a lower exercise price that has the effect of a repricing or (b) the
amendment of such Awards to reduce the exercise price thereof. The preceding sentence shall not be construed to apply to: (i) “issuing or assuming a stock option in a transaction to which section 424(a) applies,” within the
meaning of Section 424 of the Code or (ii) the substitution or assumption of an Award by reason of or pursuant to a corporate transaction, to the extent such substitution or assumption would not be treated as a grant of a new stock right
or a change in the form of payment for purposes of Section 409A of the Code within the meaning of Prop. Treas. Reg. Section 1.409A-1(b)(5)(iii)(D)(3), Notice 2005-1, A-4(d) and any subsequent Section 409A guidance.

  
 5 

	 	3.	Payment Of Exercise Price. Where the exercise of an Award is to be accompanied by payment, the Administrator may determine the required or permitted forms
of payment, subject to the following: all payments will be by cash or check acceptable to the Administrator, or, if so permitted by the Administrator and if legally permissible, (i) through the delivery of shares of Stock that have been
outstanding for at least six months (unless the Administrator approves a shorter period) and that have a fair market value equal to the exercise price, (ii) by delivery to the Company of a promissory note of the person exercising the Award,
payable on such terms as are specified by the Administrator, (iii) through a broker-assisted exercise program acceptable to the Administrator, (iv) by other means acceptable to the Administrator, or (v) by any combination of the
foregoing permissible forms of payment. The delivery of shares in payment of the exercise price under clause (a)(i) above may be accomplished either by actual delivery or by constructive delivery through attestation of ownership, subject to such
rules as the Administrator may prescribe. 

  

	 	4.	409A Exemption. Except as the Administrator otherwise determines, no Award requiring exercise shall have deferral features, or shall be
administered in a manner, that would cause such Award to fail to qualify for exemption from Section 409A. 

  

	 	c.	Awards Not Requiring Exercise 

 Restricted Stock and Unrestricted Stock, whether delivered outright or under Awards of Stock Units or other Awards that do not require exercise, may be made in exchange for such lawful consideration,
including services, as the Administrator determines. Any Award resulting in a deferral of compensation subject to Section 409A shall be construed to the maximum extent possible, as determined by the Administrator, consistent with the
requirements of Section 409A. 
  

	8.	EFFECT OF CERTAIN TRANSACTIONS 

  

	 	a.	Mergers, etc. Except as otherwise provided in an Award, the following provisions shall apply in
the event of a Covered Transaction: 

  

	 	1.	Assumption or Substitution. If the Covered Transaction is one in which there is an acquiring or surviving entity, the Administrator may provide for the
assumption of some or all outstanding Awards or for the grant of new awards in substitution therefor by the acquiror or survivor or an affiliate of the acquiror or survivor. 

 

	 	2.	 Cash-Out of Awards. If the Covered Transaction is one in which holders of Stock will receive upon consummation a payment (whether cash,
non-cash or a combination of the foregoing), the Administrator may provide for payment (a “cash-out”), with respect to some or all Awards, equal in 

  
 6 

	 	
the case of each affected Award to the excess, if any, of (A) the fair market value of one share of Stock (as determined by the Administrator in its reasonable discretion) times the number
of shares of Stock subject to the Award, over (B) the aggregate exercise or purchase price, if any, under the Award (in the case of an SAR, the aggregate base price above which appreciation is measured), in each case on such payment terms
(which need not be the same as the terms of payment to holders of Stock) and other terms, and subject to such conditions, as the Administrator determines. 

 

	 	3.	Acceleration of Certain Awards. If the Covered Transaction (whether or not there is an acquiring or surviving entity) is one in which there is no
assumption, substitution or cash-out, each Award requiring exercise will become fully exercisable, and the delivery of shares of Stock deliverable under each outstanding Award of Stock Units (including Restricted Stock Units and Performance Awards
to the extent consisting of Stock Units) will be accelerated and such shares will be delivered, prior to the Covered Transaction, in each case on a basis that gives the holder of the Award a reasonable opportunity, as determined by the
Administrator, following exercise of the Award or the delivery of the shares, as the case may be, to participate as a stockholder in the Covered Transaction. 

 

	 	4.	Termination of Awards Upon Consummation of Covered Transaction. Each Award (unless assumed pursuant to Section 8(a)(1) above), other than outstanding
shares of Restricted Stock (which shall be treated in the same manner as other shares of Stock, subject to Section 8(a)(5) below), will terminate upon consummation of the Covered Transaction. 

 

	 	5.	Additional Limitations. Any share of Stock delivered pursuant to Section 8(a)(2) or Section 8(a)(3) above with respect to an Award may, in the
discretion of the Administrator, contain such restrictions, if any, as the Administrator deems appropriate to reflect any performance or other vesting conditions to which the Award was subject. In the case of Restricted Stock, the Administrator may
require that any amounts delivered, exchanged or otherwise paid in respect of such Stock in connection with the Covered Transaction be placed in escrow or otherwise made subject to such restrictions as the Administrator deems appropriate to carry
out the intent of the Plan. 

  
 7 

	 	b.	Change in and Distributions With Respect to Stock  

  

	 	1.	Basic Adjustment Provisions. In the event of a stock dividend, stock split or combination of shares (including a reverse stock split), recapitalization or
other change in the Company’s capital structure, the Administrator will make appropriate adjustments to the maximum number of shares specified in Section 5(a) that may be delivered under the Plan and to the maximum share limits described
in Section 5(c), and will also make appropriate adjustments to the number and kind of shares of stock or securities subject to Awards then outstanding or subsequently granted, any exercise prices relating to Awards and any other provision of
Awards affected by such change. 

  

	 	2.	Certain Other Adjustments. The Administrator may also make adjustments of the type described in Section 8(b)(1) above to take into account
distributions to stockholders other than those provided for in Section 8(a) and 8(b)(1), or any other event, if the Administrator determines that adjustments are appropriate to avoid distortion in the operation of the Plan and to preserve the
value of Awards made hereunder, having due regard for the qualification of ISOs under Section 422 of the Code, the performance-based compensation rules of Section 162(m), and the requirements of Section 409A, where applicable.

  

	 	3.	Continuing Application of Plan Terms. References in the Plan to shares of Stock will be construed to include any stock or securities resulting from an
adjustment pursuant to this Section 8. 

  

	9.	LEGAL CONDITIONS ON DELIVERY OF STOCK 

 The Company will not be obligated to deliver any shares of Stock pursuant to the Plan or to remove any restriction from shares of Stock previously delivered under the Plan until: (i) the Company is
satisfied that all legal matters in connection with the issuance and delivery of such shares have been addressed and resolved; (ii) if the outstanding Stock is at the time of delivery listed on any stock exchange or national market system, the
shares to be delivered have been listed or authorized to be listed on such exchange or system upon official notice of issuance; and (iii) all conditions of the Award have been satisfied or waived. If the sale of Stock has not been registered
under the Securities Act of 1933, as amended, the Company may require, as a condition to exercise of the Award, such representations or agreements as counsel for the Company may consider appropriate to avoid violation of such Act. The Company may
require that certificates evidencing Stock issued under the Plan bear an appropriate legend reflecting any restriction on transfer applicable to such Stock, and the Company may hold the certificates pending lapse of the applicable restrictions.

  
 8 

	10.	AMENDMENT AND TERMINATION 

The Administrator may at any time or times amend the Plan or any outstanding Award for any purpose which may at the time be permitted by
law, and may at any time terminate the Plan as to any future grants of Awards; provided, that except as otherwise expressly provided in the Plan the Administrator may not, without the Participant’s consent, alter the terms of an Award so
as to affect adversely the Participant’s rights under the Award, unless the Administrator expressly reserved the right to do so at the time of the Award. Any amendments to the Plan shall be conditioned upon stockholder approval only to the
extent, if any, such approval is required by law (including the Code and applicable stock exchange requirements), as determined by the Administrator. 
  

	11.	OTHER COMPENSATION ARRANGEMENTS 

 The existence of the Plan or the grant of any Award will not in any way affect the Company’s right to Award a person bonuses or other compensation in addition to Awards under the Plan. 

 

	12.	MISCELLANEOUS 

  

	 	a.	Waiver of Jury Trial. By accepting an Award under the Plan, each Participant waives any right to a trial by jury in any action, proceeding or counterclaim
concerning any rights under the Plan and any Award, or under any amendment, waiver, consent, instrument, document or other agreement delivered or which in the future may be delivered in connection therewith, and agrees that any such action,
proceedings or counterclaim shall be tried before a court and not before a jury. By accepting an Award under the Plan, each Participant certifies that no officer, representative, or attorney of the Company has represented, expressly or otherwise,
that the Company would not, in the event of any action, proceeding or counterclaim, seek to enforce the foregoing waivers. 

  

	 	b.	Limitation of Liability. Notwithstanding anything to the contrary in the Plan, neither the Company, any Affiliate, nor the Administrator, nor any
person acting on behalf of the Company, any Affiliate, or the Administrator, shall be liable to any Participant or to the estate or beneficiary of any Participant or to any other holder of an Award by reason of any acceleration of income, or any
additional tax, asserted by reason of the failure of an Award to satisfy the requirements of Section 422 or Section 409A or by reason of Section 4999 of the Code; provided, that nothing in this Section 12(b) shall limit the
ability of the Administrator or the Company to provide by separate express written agreement with a Participant for a gross-up payment or other payment in connection with any such tax or additional tax. 

  
 9 

 EXHIBIT A 
 Definition of Terms 
 The following terms, when used in the Plan, will have the
meanings and be subject to the provisions set forth below: 
 “Administrator”: The Board, except that the Board may delegate
(i) to one or more of its members such of its duties, powers and responsibilities as it may determine; provided, that with respect to any delegation described in this clause (i) only the Board may amend or terminate the Plan as
provided in Section 10; (ii) to one or more officers of the Company the power to grant rights or options to the extent permitted by Section 157(c) of the Delaware General Corporation Law; (iii) to one or more officers of the
Company the authority to allocate other Awards among such persons (other than officers of the Company) eligible to receive Awards under the Plan as such delegated officer or officers determine consistent with such delegation; provided, that
with respect to any delegation described in this clause (iii) the Board (or a properly delegated member or members of the Board) shall have authorized the issuance of a specified number of shares of Stock under such Awards and shall have
specified the consideration, if any, to be paid therefor; and (iv) to such Employees or other persons as it determines such ministerial tasks as it deems appropriate. In the event of any delegation described in the preceding sentence, the term
“Administrator” shall include the person or persons so delegated to the extent of such delegation. 
 “Affiliate”:
Any corporation or other entity owning, directly or indirectly, 50% or more of the outstanding Stock of the Company, or in which the Company or any such corporation or other entity owns, directly or indirectly, 50% of the outstanding capital stock
(determined by aggregate voting rights) or other voting interests. However, for purposes of determining eligibility for the grant of a Stock Option or SAR, the term “Affiliate” shall mean a person standing in a relationship to the Company
such that the Company and such person are treated as a single employer under Section 414(b) and Section 414(c) of the Code, in accordance with the definition of “service recipient” under Section 409A of the Code. 

“Award”: Any or a combination of the following: 
 (i) Stock Options. 
 (ii) SARs. 

(iii) Restricted Stock. 
 (iv) Unrestricted Stock. 
 (v) Stock Units, including Restricted Stock Units.

 (vi) Performance Awards. 
 (vii) Cash Awards. 
 (viii) Awards (other than Awards described in
(i) through (vii) above) that are convertible into or otherwise based on Stock. 
 “Board”: The Board of Directors of
the Company. 

  
 10 

 “Cash Award”: An Award denominated in cash. 

“Code”: The U.S. Internal Revenue Code of 1986 as from time to time amended and in effect, or any successor statute as from time to time
in effect. 
 “Company”: MicroVision, Inc. 
 “Covered Transaction”: Any of (i) a consolidation, merger, or similar transaction or series of related transactions, including a sale or other disposition of stock, in which the
Company is not the surviving corporation or which results in the acquisition of all or substantially all of the Company’s then outstanding common stock by a single person or entity or by a group of persons and/or entities acting in concert,
(ii) a sale or transfer of all or substantially all the Company’s assets, or (iii) a dissolution or liquidation of the Company. Where a Covered Transaction involves a tender offer that is reasonably expected to be followed by a merger
described in clause (i) (as determined by the Administrator), the Covered Transaction shall be deemed to have occurred upon consummation of the tender offer. 
 “Disability”: The total and permanent disability of any Participant, as determined by the Administrator in its sole discretion. Without limiting the generality of the foregoing, the
Administrator may, but is not required to, rely on a determination of disability by the Company’s long term disability carrier or the Social Security Administration. 
 “Employee”: Any person who is employed by the Company or an Affiliate. 

“Employment”: A Participant’s employment or other service relationship with the Company and its Affiliates. Employment will be
deemed to continue, unless the Administrator expressly provides otherwise, so long as the Participant is employed by, or otherwise is providing services in a capacity described in Section 6 to the Company or its Affiliates. If a
Participant’s employment or other service relationship is with an Affiliate and that entity ceases to be an Affiliate, the Participant’s Employment will be deemed to have terminated when the entity ceases to be an Affiliate unless the
Participant transfers Employment to the Company or its remaining Affiliates. 
 “ISO”: A Stock Option intended to be an
“incentive stock option” within the meaning of Section 422 of the Code. Each option granted pursuant to the Plan will be treated as providing by its terms that it is to be a non-incentive stock option unless, as of the date of grant,
it is expressly designated as an ISO. 
 “Participant”: A person who is granted an Award under the Plan. 

“Performance Award”: An Award subject to Performance Criteria. The Committee in its discretion may grant Performance Awards that
are intended to qualify for the performance-based compensation exception under Section 162(m) and Performance Awards that are not intended so to qualify. 
 “Performance Criteria”: Specified criteria, other than the mere continuation of Employment or the mere passage of time, the satisfaction of which is a condition for the grant,
exercisability, vesting or full enjoyment of an Award. For purposes of Awards that are intended to qualify for the performance-based compensation exception under Section 162(m), a Performance Criterion will mean an objectively determinable
measure of performance relating to any or any combination of the following (measured either absolutely or by reference to an index or indices and determined either on a consolidated basis or, as the context permits, on a divisional, subsidiary, line
of business, project or geographical basis or in combinations thereof): sales; revenues; assets; expenses; earnings before or after deduction for all or any portion of interest, taxes, depreciation, or amortization, whether or not on a continuing
operations or an aggregate or per share basis; return on equity, 

  
 11 

 
investment, capital or assets; one or more operating ratios; borrowing levels, leverage ratios or credit rating; market share; capital expenditures; cash flow; stock price; stockholder return;
sales of particular products or services; customer acquisition or retention; acquisitions and divestitures (in whole or in part); joint ventures and strategic alliances; spin-offs, split-ups and the like; reorganizations; or recapitalizations,
restructurings, financings (issuance of debt or equity) or refinancings. A Performance Criterion and any targets with respect thereto determined by the Administrator need not be based upon an increase, a positive or improved result or avoidance of
loss. To the extent consistent with the requirements for satisfying the performance-based compensation exception under Section 162(m), the Administrator may provide in the case of any Award intended to qualify for such exception that one or
more of the Performance Criteria applicable to such Award will be adjusted in an objectively determinable manner to reflect events (for example, but without limitation, acquisitions or dispositions) occurring during the performance period that
affect the applicable Performance Criterion or Criteria. 
 “Plan”: The 2013 MicroVision, Inc. Incentive Plan, as from time to
time amended and in effect. 
 “Restricted Stock”: Stock subject to restrictions requiring that it be redelivered or offered
for sale to the Company if specified conditions are not satisfied. 
 “Restricted Stock Unit”: A Stock Unit that is, or as to
which the delivery of Stock or cash in lieu of Stock is, subject to the satisfaction of specified performance or other vesting conditions. 

“Section 162(m)”: Section 162(m) of the Code. 
 “Section 409A”: Section 409A of the Code. 
 “SAR”: A right
entitling the holder upon exercise to receive an amount (payable in shares of Stock of equivalent value) equal to the excess of the fair market value of the shares of Stock subject to the right over the fair market value of such shares at the date
of grant. 
 “Stock”: Common Stock of the Company, par value $.001 per share. 

“Stock Option”: An option entitling the holder to acquire shares of Stock upon payment of the exercise price. 

“Stock Unit”: An unfunded and unsecured promise, denominated in shares of Stock, to deliver Stock or cash measured by the value
of Stock in the future. 
 “Unrestricted Stock”: Stock not subject to any restrictions under the terms of the Award.

  
 12EX-10.1

 Exhibit 10.1 
 FIFTH AMENDED AND RESTATED 
 MANAGEMENT SERVICES AGREEMENT

 BY AND BETWEEN 
 COMPASS GROUP DIVERSIFIED HOLDINGS LLC, 
 AND 

COMPASS GROUP MANAGEMENT LLC 
 Amended and Restated as of July 1, 2013 
 Amended and Restated as of
December 20, 2011 
 Amended and Restated as of December 15, 2009 

Amended as of March 12, 2008 
 Amended and Restated as of April 2, 2007 
 Amended and Restated as of
November 8, 2006 
 Originally effective as of May 16, 2006 

 TABLE OF CONTENTS 

 
  

							
	 	 	 	  	Page	 
		
	 ARTICLE I
	  	 	1	  
	 Section 1.1
	 	 Definitions
	  	 	1	  
	 ARTICLE II
	  	 	5	  
	 Section 2.1
	 	 Appointment
	  	 	5	  
	 Section 2.2
	 	 Term
	  	 	6	  
	 ARTICLE III
	 		  	 	6	  
	 Section 3.1
	 	 Obligations of the Manager
	  	 	6	  
	 Section 3.2
	 	 Obligations of the Company
	  	 	8	  
	 Section 3.3
	 	 Acquisition and Disposition Opportunities
	  	 	8	  
	 Section 3.4
	 	 Offsetting Management Services
	  	 	9	  
	 Section 3.5
	 	 Change of Services
	  	 	10	  
	 Section 3.6
	 	 Integration Services
	  	 	10	  
	 Section 3.7
	 	 License
	  	 	11	  
	 ARTICLE IV
	  	 	12	  
	 Section 4.1
	 	 Powers of the Manager
	  	 	12	  
	 Section 4.2
	 	 Delegation
	  	 	12	  
	 Section 4.3
	 	 Manager’s Obligations, Duties and Powers Exclusive
	  	 	12	  
	 ARTICLE V
	  	 	13	  
	 Section 5.1
	 	 Books and Records of the Company
	  	 	13	  
	 Section 5.2
	 	 Books and Records of the Manager
	  	 	13	  
	 ARTICLE VI
	 		  	 	13	  
	 ARTICLE VII
	 		  	 	13	  
	 Section 7.1
	 	 Management Fee
	  	 	13	  
	 Section 7.2
	 	 Reimbursement of Expenses
	  	 	16	  
	 ARTICLE VIII
	 		  	 	17	  
	 Section 8.1
	 	 Secondment of the Chief Executive Officer and Chief Financial Officer
	  	 	17	  
	 Section 8.2
	 	 Remuneration of the Chief Executive Officer and Chief Financial Officer
	  	 	17	  
	 Section 8.3
	 	 Secondment of Additional Officers
	  	 	18	  
	 Section 8.4
	 	 Removal of Seconded Officers
	  	 	18	  
	 Section 8.5
	 	 Insurance
	  	 	18	  
	 ARTICLE IX
	  	 	18	  
	 Section 9.1
	 	 Resignation by the Manager
	  	 	18	  
	 Section 9.2
	 	 Removal of the Manager
	  	 	19	  
	 Section 9.3
	 	 Termination
	  	 	19	  
	 Section 9.4
	 	 Seconded Individuals
	  	 	19	  
	 Section 9.5
	 	 Termination of License; Withdrawal of Branding
	  	 	20	  
	 Section 9.6
	 	 Directions
	  	 	20	  
	 Section 9.7
	 	 Payments Upon Termination
	  	 	20	  
	 ARTICLE X
	 		  	 	21	  
	 Section 10.1
	 	 Indemnity
	  	 	21	  
	 Section 10.2
	 	 Insurance
	  	 	22	  

  
 i 

							
	 ARTICLE XI
	 		  	 	22	  
	 Section 11.1
	 	 Limitation of Liability
	  	 	22	  
	 Section 11.2
	 	 Reliance of Manager
	  	 	22	  
	 ARTICLE XII
	  	 	23	  
	 Section 12.1
	 	 Third Party Claims
	  	 	23	  
	 ARTICLE XIII
	  	 	23	  
	 Section 13.1
	 	 Obligation of Good Faith; No Fiduciary Duties
	  	 	23	  
	 Section 13.2
	 	 Binding Effect
	  	 	23	  
	 Section 13.3
	 	 Compliance
	  	 	23	  
	 Section 13.4
	 	 Effect of Termination
	  	 	24	  
	 Section 13.5
	 	 13.5 Notices
	  	 	24	  
	 Section 13.6
	 	 Headings
	  	 	25	  
	 Section 13.7
	 	 Applicable Law
	  	 	25	  
	 Section 13.8
	 	 Submission to Jurisdiction; Waiver of Jury Trial
	  	 	25	  
	 Section 13.9
	 	 Amendment; Waivers
	  	 	25	  
	 Section 13.10
	 	 Remedies to Prevailing Party
	  	 	25	  
	 Section 13.11
	 	 Severability
	  	 	26	  
	 Section 13.12
	 	 Benefits Only to Parties
	  	 	27	  
	 Section 13.13
	 	 Further Assurances
	  	 	27	  
	 Section 13.14
	 	 No Strict Construction
	  	 	27	  
	 Section 13.15
	 	 Entire Agreement
	  	 	27	  
	 Section 13.16
	 	 Assignment
	  	 	27	  
	 Section 13.17
	 	 Confidentiality
	  	 	27	  
	 Section 13.18
	 	 Counterparts
	  	 	28	  

  
 ii 

 FIFTH AMENDED AND RESTATED MANAGEMENT SERVICES AGREEMENT (as amended, revised,
supplemented or otherwise modified from time to time, this “Agreement”), dated as of July 1, 2013, and amended December 20, 2011, December 15, 2009, March 12,
2008, April 2, 2007, November 8, 2006 and originally effective as of May 16, 2006 by and between Compass Group Diversified Holdings LLC, a Delaware limited liability company (the
“Company”), and Compass Group Management LLC, a Delaware limited liability company (the “Manager”). Each party hereto shall be referred to as, individually, a
“Party” and, collectively, the “Parties.” 
 WHEREAS, the Company has
determined that it would be in its best interests to appoint a manager to perform the Services described herein and have agreed, therefore, to appoint the Manager to perform such Services; and 

WHEREAS, the Manager has agreed to act as Manager and to perform the Services described herein on the terms and subject to the
conditions set forth herein. 
 NOW, THEREFORE, in consideration of the mutual covenants, representations, warranties and
agreements contained herein, and of other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound hereby, the Parties hereto agree as follows: 

ARTICLE I 
 DEFINITIONS 
  

	Section 1.1	Definitions. 

Except as otherwise noted, for all purposes of this Agreement, the following terms shall have the respective meanings set forth in this
Section 1.1, which meanings shall apply equally to the singular and plural forms of the terms so defined and the words “herein,” “hereof’ and “hereunder” and other words of similar import refer to this Agreement as
a whole and not to any particular Article, Section or other subdivision: 
 “Adjusted Management Fee”
has the meaning set forth in Section 7.1(e) hereof. 
 “Adjusted Net Assets” means, as of any
Calculation Date, the sum of (i) consolidated total assets (as determined in accordance with GAAP) of the Company as of such Calculation Date, plus (ii) the absolute amount of consolidated accumulated amortization of
intangibles (as determined in accordance with GAAP) of the Company as of such Calculation Date, minus (iii) the absolute amount of Adjusted Total Liabilities of the Company as of such Calculation Date, plus (iv) to the extent
included in Adjusted Total Liabilities of the Company as of such Calculation Date, the absolute amount of the Company’s liabilities (as determined in accordance with GAAP) in respect of its obligations under the Supplemental Put Agreement (as
such term is defined in the LLC Agreement). 

  
 1 

 “Adjusted Total Liabilities” means, as of any Calculation Date, the
Company’s consolidated total liabilities (as determined in accordance with GAAP) as of such Calculation Date, after excluding the effect of any outstanding Third Party Indebtedness of the Company. 

“Adjustment Date” has the meaning set forth in Section 7.1(c) hereof. 

“Affiliate” means, with respect to any Person, (i) any Person directly or indirectly controlling, controlled
by or under common control with such Person or (ii) any officer, director, general member, member or trustee of such Person. For purposes of this definition, the terms “controlling,” “controlled by” or “under common
control with” shall mean, with respect to any Persons, the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a Person, whether through the ownership of voting securities, by contract
or otherwise, or the power to elect at least 50% of the directors, managers, general members, or Persons exercising similar authority with respect to such Person. 
 “Agreement” has the meaning set forth in the preamble of this Agreement. 
 “Board of Directors” means, with respect to the Company, the Board of Directors of the Company, or any committee thereof that has been duly authorized by the Board of Directors to
make a decision on the mailer in question or bind the Company, as to the matter in question. 
 “Business
Day” means any day other than a Saturday, a Sunday or a day on which banks in The City of New York are required, permitted or authorized, by applicable law or executive order, to be closed for regular banking business. 

“Calculation Date” means, with respect to any Fiscal Quarter, the last day of such Fiscal Quarter. 

“Chief Executive Officer” means the Chief Executive Officer of the Company, including any interim Chief Executive
Officer. 
 “Chief Financial Officer” means the Chief Financial Officer of the Company, including any
interim Chief Financial Officer. 
 “Company” has the meaning set forth in the preamble of this
Agreement. 
 “Company Officers” means the Chief Executive Officer and the Chief Financial Officer and
any other officer of the Company hereinafter appointed by the Board of Directors of the Company. 
 “Exchange
Act” means the Securities Exchange Act of 1934, as amended. 
 “Federal Securities Laws”
means, collectively, the Securities Act, the Exchange Act and the rules and regulations promulgated thereunder. 

“Final Management Fee” has the meaning set forth in Section 7.1(b) hereof. 

  
 2 

 “Fiscal Quarter” means the Company’s fiscal quarter for
purposes of its reporting obligations under the Exchange Act. 
 “Fiscal Year” means the Company’s
fiscal year for purposes of reporting its income for federal income tax purposes. 
 “GAAP” means
generally accepted accounting principles in effect in the United States, consistently applied. 

“Incur” means, with respect to any Indebtedness or other obligation of a Person, to create, issue, acquire (by
conversion, exchange or otherwise), assume, suffer, guarantee or otherwise become liable in respect of such Indebtedness or other obligation. 
 “Indebtedness” means, with respect to any Person, (i) any liability for borrowed money, or under any reimbursement obligation relating to a letter of credit, (ii) all
indebtedness (including bond, note, debenture, purchase money obligation or similar instrument) for the acquisition of any businesses, properties or assets of any kind (other than property, including inventory, and services purchased, trade
payables, other expenses accruals and deferred compensation items arising in the Ordinary Course of Business), (iii) all obligations under leases that have been or should be, in accordance with GAAP, recorded as capital leases, (iv) any
liabilities of others described in the preceding clauses (i) to (iii) (inclusive) that such Person has guaranteed or that is otherwise its legal liability, and (v) (without duplication) any amendment, supplement, modification,
deferral, renewal, extension or refunding of any liability of the types referred to in clauses (i) through (iv) above. 
 “Indemnified Parties” has the meaning set forth in Article X hereof. 
 “Independent Director” means a director who (i)(a) is not an officer or employee of the Company, or an officer, director or employee of any of the Subsidiaries of the Company or
their Subsidiaries, (b) was not appointed as a director pursuant to the terms of this Agreement and (c) is not affiliated with the Manager or any of its Affiliates, and (ii) satisfies the independence requirements under the Exchange
Act and the rules and regulations of the principal securities exchange on which the Trust Shares are traded. 

“Integration Fee” has the meaning set forth in Section 3.6 hereof. 

“Integration Services” has the meaning set forth in Section 3.6 hereof. 

“Integration Services Agreements” has the meaning set forth in Section 3.6 hereof. 

“Investment Company Act” means the Investment Company Act of 1940, as amended. 

“Limitation Amount” means an amount calculated as (i) (A) the Company’s actual gross income
(as calculated for federal income tax purposes) (“AGI”) for a Fiscal Year, plus the amount of the Offsetting Management Fees accrued for such Fiscal Year (after any reduction required by Section 3.4 without taking into account the
final proviso therein), times (B) 9.99%, less (ii) the amount of AGI (including any potential deemed income) that is not “qualifying income” as defined in Section 7704(d) of the Internal Revenue Code of 1986, as amended.

  
 3 

 “LLC Agreement” means the Amended and Restated Operating Agreement
of Compass Group Diversified Holdings LLC, including all exhibits and schedules attached thereto, as may be amended, revised, supplemented or otherwise modified from time to time. 

“Losses” has the meaning set forth in Article X hereof. 

“Management Fee” has the meaning set forth in Section 7.1(a) hereof. 

“Management Fee Payment Date” means, with respect to any Calculation Date, the date that is ten
(10) Business Days following the receipt by the Company of the calculation of the Management Fee from the MSA Administrator with respect to such Calculation Date. 
 “Manager” has the meaning set forth in the preamble of this Agreement. 
 “Manager Marks” has the meaning set forth in Section 3.7 hereof. 
 “MSA Administrator” means, as of any Calculation Date, (i) for so long as this Agreement remains in full force and effect as of such Calculation Date, the Manager, and
(ii) thereafter, the Chief Financial Officer. 
 “Offsetting Management Fees” has the meaning
specified in Section 3.4 hereof. 
 “Offsetting Management Services” has the meaning specified in
Section 3.4 hereof. 
 “Offsetting Management Services Agreement” has the meaning specified in
Section 3.4 hereof. 
 “Ordinary Course of Business” means, with respect to any Person, an action
taken by such Person if such action is (i) consistent with the past practices of such Person and is taken in the normal day-to-day business or operations of such Person and (ii) which is not required to be specifically authorized or
approved by the board of directors of such Person. 
 “Over-Paid Management Fees” means, as of any
Calculation Date, the amount by which (i) Adjusted Management Fees that were actually paid on all Management Fee Payment Dates preceding such Calculation Date, exceeded (ii) Adjusted Management Fees that were actually due and
payable by the Company on all such Management Fee Payment Dates, as determined by the MSA Administrator upon availability of the Company’s final consolidated financial statements in accordance with Section 7.1(e); provided, that
such amount shall not be less than zero. 
 “Party” and “Parties” have the
meaning set forth in the preamble of this Agreement. 

  
 4 

 “Person” means any individual, company (whether general or limited),
limited liability company, corporation, trust, estate, association, nominee or other entity. 
 “Securities
Act” means the Securities Act of 1933, as amended. 
 “Services” has the meaning set forth
in Section 3.1(b) hereof. 
 “Subsidiary” means, with respect to any Person, any corporation,
company, joint venture, limited liability company, association or other Person in which such Person owns, directly or indirectly, more than 50% of the outstanding voting equity securities or interests, the holders of which are generally entitled to
vote for the election of the Board of Directors or other governing body of such Person. 
 “Third Party
Indebtedness” means, with respect to any Person, Indebtedness of such Person owed to any lenders or other creditors that are not Affiliated with such Person. 
 “Trust” means Compass Diversified Trust, which holds one hundred percent (100%) of the Trust Interest in the Company. 

“Trust Certificate” means the certificates representing Trust Shares. 

“Trust Interest” means the trust interests of the Company as provided for and described in the LLC Agreement.

 “Trust Shares” means the shares of beneficial interest of the Trust where each such share represents
an undivided beneficial interest in one Trust Interest; provided, that in the event that all outstanding shares of beneficial interest of the Trust are exchanged for Trust Interests in accordance with the terms of the LLC Agreement, all
references herein to “Trust Shares” shall automatically be deemed to refer to Trust Interests upon such exchange. 

“Under-Paid Management Fees” means, as of any Calculation Date, the amount by which (i) Adjusted Management
Fees that were actually due and payable by the Company on all Management Fee Payment Dates preceding such Calculation Date, as determined by the MSA Administrator upon availability of the Company’s final consolidated financial statements in
accordance with in Section 7.1(e) exceeded (ii) Adjusted Management Fees that were actually paid on all such Management Fee Payment Dates; provided, that such amount shall not be less than zero. 

ARTICLE II 
 APPOINTMENT OF THE MANAGER 
  

	Section 2.1	Appointment 

 The
Company hereby agrees to, and hereby does, appoint the Manager to perform the Services as set forth in Section 3.1 herein and in accordance with the terms of this Agreement. 

  
 5 

	Section 2.2	Term 

 The Manager
shall provide Services to the Company from the date hereof until the termination of this Agreement in accordance with Article IX hereof. 
 ARTICLE III 
 OBLIGATIONS OF THE PARTIES 

 

	Section 3.1	Obligations of the Manager 

 (a) Subject always to the oversight and supervision of the Board of Directors of the Company and the terms and conditions of this Agreement, the Manager shall during the term of this Agreement
(i) perform the Services as set forth in Section 3.1(b) below and (ii) comply with the provisions of the LLC Agreement, as amended from time to time, and the operational objectives and business plans of the Company in existence from
time to time. The Company shall promptly provide the Manager with all amendments to the LLC Agreement and all stated operational objectives and business plans of the Company approved by the Board of Directors of the Company and any other available
information reasonably requested by the Manager. 
 (b) Subject to Sections 3.4 and 3.6 hereof and Article VII, the Manager
agrees and covenants that it shall perform the following services (as may be modified from time to time pursuant to Section 3.5 hereof, the “Services”): 

(i) manage the Company’s day-to-day business and operations, including managing its liquidity and capital resources
and causing the Company to comply with applicable law; 
 (ii) identify, evaluate, manage, perform due diligence
on, negotiate and oversee the acquisitions of target businesses by the Company and any other assets of the Company; 
 (iii) evaluate, manage, negotiate and oversee the disposition of all or any part of the property or assets of the Company, including dispositions of all or any part of the Company’s Subsidiaries;

 (iv) evaluate the financial and operational performance of any of the Company’s Subsidiaries, including
monitoring the business and operations thereof, and the financial performance of any of the Company’s other assets; 
 (v) provide or second, as determined necessary by the Manager and in accordance with the terms and conditions of this Agreement and the LLC Agreement, employees of the Manager to serve as executive
officers or other employees of the Company or as members of the Company’s Board of Directors; and 
 (vi)
subject to the other provisions of this Agreement, perform any other services for and on behalf of the Company to the extent that such services are consistent with those that are customarily performed by the executive officers and employees of a
publicly listed or quoted Person. 

  
 6 

 The foregoing Services shall include, but are not limited to, the following: (1) establishing and
maintaining books and records of the Company in accordance with customary practice and GAAP; (2) recommend to the Company’s Board of Directors (x) the entry into credit facilities or other credit arrangements, structured financings or
other capital market transactions to the extent consistent with this Agreement, (y) changes or other modifications in the capital structure of the Company, including repurchases; (3) recommend to the Company’s Board of Directors the
engagement of or, if approval is not otherwise required hereunder, engage agents, consultants or other third party service providers to the Company, including accountants, lawyers, registered investment advisers or experts, in each case, as may be
necessary by the Company from time to time; (4) maintain the Company’s property and assets in the Ordinary Course of Business; (5) manage or oversee litigation, administrative or regulatory proceedings, investigations or any other
reviews of the Company’s business or operations that may arise in the Ordinary Course of Business or otherwise, subject to the approval of the Company’s Board of Directors to the extent necessary in connection with the settlement,
compromise, consent to the entry of an order or judgment or other agreement resolving any of the foregoing; (6) establish and maintain appropriate insurance policies with respect to the Company’s business and operations; (7) recommend
to the Company’s Board of Directors the payment of dividends or other distributions on the equity interests of the Company; and (8) attend to the timely calculation and payment of taxes payable, and the filing of all taxes return due, by
the Company. 
 (c) In connection with the performance of its obligations under this Agreement, the Manager shall be required to
obtain authorization and approval of the Company’s Board of Directors in accordance with the Company’s internal policy regarding action requiring Board of Directors approval, as otherwise required by any such Board of Directors (or any
applicable committee thereof) or the Company’s officers or as otherwise required by applicable law. 
 (d) In connection
with the performance of the Services under this Agreement, the Manager shall have all necessary power and authority to perform, or cause to be performed, such Services on behalf of the Company. 

(e) In connection with the performance of its obligations under this Agreement, the Manager is not permitted to, and nothing in this
Agreement shall require the Manager to, engage in any activities that would cause the Company to become an “investment company” as defined in Section 3(a)(1) of the Investment Company Act, or any successor provision thereto.

 (f) While the Manager is providing the Services under this Agreement, the Manager shall also be permitted to provide
services, including services similar to the Services covered hereby, to other Persons, including Affiliates of the Manager, but the Manager shall not render any services to any other Person on behalf of the Company. This Agreement and the
Manager’s obligation to provide the Services under this Agreement shall not create an exclusive relationship between the Manager and its Affiliates, on the one hand, and the Company and its Subsidiaries, on the other. 

  
 7 

	Section 3.2	Obligations of the Company 

 (a) The Company shall do all things reasonably necessary on its part as requested by the Manager consistent with the terms of this Agreement to enable the Company to fulfill its obligations under this
Agreement. 
 (b) The Company shall take reasonable steps to ensure that: 

(i) its officers and employees act in accordance with the terms of this Agreement and the reasonable directions of the
Manager in fulfilling the Manager’s obligations hereunder and allowing the Manager to exercise its powers and rights hereunder; and 
 (ii) the Company provide to the Manager all reports (including monthly management reports and all other relevant reports), which the Manager may reasonably require and on such dates as the Manager may
reasonably require. 
 (c) Without the prior written consent of the Manager, the Company shall not amend any provision of the
LLC Agreement that adversely affects, either directly or indirectly, the rights of the Manager hereunder. 
 (d) The Company
agrees that, in connection with the performance by the Manager of its obligations hereunder, the Manager may recommend to the Company, and may engage in, transactions with any of the Manager’s Affiliates; provided, that any such
transactions shall be subject to the authorization and approval of the Company’s nominating and corporate governance committee. 
 (e) The Company shall maintain a Board of Directors consisting of a majority of Independent Directors. 
 (f) The Company shall take any and all actions necessary to ensure that it does not become an “investment company” as defined in Section 3(a)(l) of the Investment Company Act, or any
successor provision thereto. 
  

	Section 3.3	Acquisition and Disposition Opportunities 

 (a) The Company agrees that the Manager shall have, and does hereby grant to the Manager, exclusive responsibility for reviewing and making recommendations to the Company’s Board of Directors with
respect to acquisition and disposition of opportunities. In the event that any such opportunity is not originated by the Manager, the Company’s Board of Directors shall seek a recommendation from the Manager prior to making any decision
concerning such opportunity. 

  
 8 

 (b) In the case of any acquisition or disposition opportunity that involves an Affiliate of
the Manager, the Company’s nominating and corporate governance committee shall be required to authorize and approve such transaction. 
 (c) The Manager shall review each acquisition or disposition opportunity presented to the Manager to determine, in its sole discretion, if such acquisition or disposition opportunity satisfies the
Company’s acquisition criteria, as established by the Company’s Board of Directors from time to time. If the Manager determines, in its sole discretion, if such an opportunity satisfies such criteria, the Manager shall refer such
opportunity to the Company’s Board of Directors for its authorization and approval prior to any consummation thereof. 

(d) In the event that an acquisition opportunity is referred to the Company’s Board of Directors by the Manager and the
Company’s Board of Directors determines not to promptly pursue such opportunity in whole or in part, any part of such opportunity that the Company does not promptly pursue may be pursued by the Manager or may be referred by the Manager to any
Person, including Affiliates of the Manager, in the sole discretion of the Manager. 
  

	Section 3.4	Offsetting Management Services 

 Notwithstanding anything else to the contrary herein, the Company agrees that the Manager may, at any time, enter into management services agreements with any one or more of the Subsidiaries of the
Company (“Offsetting Management Services Agreement”), including by assignment thereof, relating to the performance by the Manager of management services for such Subsidiaries of the Company that may or may not be similar to
Services to be provided hereunder (“Offsetting Management Services”); provided, that such Offsetting Management Services Agreement shall be designated as such therein; provided, further, that any Offsetting
Management Services provided to a Subsidiary of the Company pursuant to an Offsetting Management Services Agreement shall not be deemed to be Services provided hereunder. Any fee to be paid pursuant to such an Offsetting Management Services
Agreement (“Offsetting Management Fee”) shall be paid directly by the relevant Subsidiary of the Company to the Manager and shall not be deemed an obligation of the Company. Notwithstanding anything else to the contrary in
any Offsetting Management Services Agreement, the Parties hereto agree that the aggregate amount of all Offsetting Management Fees to be paid by all of the Subsidiaries of the Company with respect to any Fiscal Quarter shall not exceed the aggregate
amount of the Management Fee calculated with respect to such Fiscal Quarter; provided, that if the aggregate amount of all Offsetting Management Fees to be paid by all of the Subsidiaries of the Company with respect to any Fiscal Quarter
exceed the aggregate amount of Management Fee calculated with respect to such Fiscal Quarter, then the Manager agrees that it shall reduce, on a pro rata basis, the Offsetting Management Fees to be paid by each of the Subsidiaries of the
Company under each of the Offsetting Management Agreements, determined by reference to the Adjusted Net Assets of each of the Subsidiaries of the Company, until the aggregate amount of all Offsetting Management Fees to be paid by all of the
Subsidiaries of the Company with respect to any Fiscal Quarter does not exceed the aggregate amount of Management Fee calculated with respect to such Fiscal Quarter, and provided further that beginning for the 2007 Fiscal Year if the
aggregate amount of all Offsetting Management Fees to be paid by all of the Subsidiaries of the 

  
 9 

 
Company with respect to any Fiscal Year exceed the Limitation Amount with respect to such Fiscal Year, then the Manager agrees that it shall reduce, on a pro rata basis, the Offsetting
Management Fees to be paid by each of the Subsidiaries of the Company under each of the Offsetting Management Agreements, determined by reference to the Adjusted Net Assets of each of the Subsidiaries of the Company, until the aggregate amount of
all Offsetting Management Fees to be paid by all of the Subsidiaries of the Company with respect to any Fiscal Year does not exceed the Limitation Amount with respect to such Fiscal Year. If following the close of any Fiscal Year it is determined
that the amount of Offsetting Management Fees paid to the Manager with respect to such Fiscal Year exceeded the Limitation Amount, such excess shall be promptly returned by the Manager to the Subsidiaries in the same proportion that the Offsetting
Management Fees would have been reduced pursuant to the provisions of this Section. Each such Offsetting Management Services Agreement shall be terminable, without penalty (including a termination fee), by the relevant Subsidiary of the Company upon
30 days prior written notice. Entry into an Offsetting Management Services Agreement by any Subsidiary of the Company shall not be subject to authorization and approval of the Company’s nominating and corporate governance committee. 

 

	Section 3.5	Change of Services 

(a) The Company and the Manager shall have the right at any time during the term of this Agreement to change the Services provided by the
Manager and such changes shall in no way otherwise affect the rights or obligations of any Party hereunder. 
 (b) Any change in
the Services shall be authorized in writing and evidenced by an amendment to this Agreement, as provided in Section 13.9 hereof. Unless otherwise agreed in writing, the provisions of this Agreement shall apply to all changes in the Services.

  

	Section 3.6	Integration Services 

 (a) Notwithstanding anything else to the contrary herein, the Company agrees that the Manager may, at any time, enter into services agreements with one or more of its Subsidiaries
(“Integration Services Agreements”) relating to the performance by the Manager of additional services for such Subsidiary to integrate the Subsidiary’s financial reporting, computer systems, and decision
making and management processes into the Company’s operations, which may or may not be similar to Services to be provided hereunder, following the acquisition of target businesses by the Company or the Company’s Subsidiaries
(“Integration Services”); provided, that such Integration Services Agreement shall be designated as such therein; provided, further, that any Integration Services provided to the Company’s Subsidiaries
pursuant to Integration Services Agreements shall not be deemed to be Services provided hereunder. The Manager shall contract for the performance of such Integration Services on market terms and conditions. Entry into an Integration Services
Agreement shall be subject to the authorization and approval of the Company’s nominating and corporate governance committee, and the Company’s nominating and corporate governance committee shall have the right to take whatever measures
they deem prudent to confirm the market terms of any Integration Services Agreement. Any fee to be paid pursuant to an Integration Services Agreement (the “Integration Fee”) shall be paid by the

  
 10 

 
relevant Subsidiary of the Company that is a party to the corresponding Integration Services Agreement directly to the Manager. Integration Fees are not Offsetting Management Fees and shall not
have the effect of Offsetting Management Fees as provided herein. Any Integration Services Agreement may also provide for the reimbursement of costs and expenses of the Manager in the performance of any Integration Services, including costs and
expenses referenced in Section 7.2(b)(iii) hereof. 
  

	Section 3.7	License 

 (a) The
Manager hereby grants the Company, subject to the terms and conditions of this Agreement, a non-exclusive, royalty-free right to use the following trademarked names (“Manager Marks”) in connection with its business and
operations or as may be required to comply with applicable law; 
 (i) Compass Diversified Trust 

(ii) Compass Group Diversified Holdings 

(iii) www.compassdiversifiedtrust.com 

(iv) www.compasstrust.com 
 Notwithstanding the foregoing, the Company shall be permitted to (i) sublicense the use, on any terms and conditions consistent and coextensive with this Section 3.7, of any of the Manager Marks
to the Trust to use in connection with its business and operations or as may be required to comply with applicable law and (ii) sublicense the use, on any terms and conditions consistent and co-extensive with this Section 3.7. of any of
the Manager Marks to any of the Company’s Subsidiaries to use in connection with its business and operations or as may be required to comply with applicable law. 
 (b) The Company agrees to notify the Manager promptly upon notice of(a) any conflicting uses of, or any applications of or registrations for, a trademark, service mark or logo that may conflict with the
Manager Marks, (b) any acts of infringement or unfair competition involving the Manager Marks or (c) any allegations that the use of the Manager Marks by the Company or any of its Affiliates infringe upon the trademark or service mark or
other rights, including without limitation, rights relating to unfair competition of any other Person. 
 (c) The Manager shall
have the sole right to initiate any opposition, cancellation or infringement proceedings necessary to enforce the Manager Marks. The Manager shall have the right to include the Company or its Affiliates as a party in any such enforcement proceedings
where necessary, and the Company agrees to join in such proceedings, at the Manager’s sole cost and expense as a voluntary plaintiff or claimant upon request of the Manager, and the Company shall cooperate with the Manager in such proceedings,
at the Manager’s sole cost and expense. The Manager shall have the sole right to control and settle any such proceedings. 

  
 11 

 ARTICLE IV 

POWERS OF THE MANAGER 
  

	Section 4.1	Powers of the Manager 

 (a) The Manager shall have no power to enter into any contract for or on behalf of the Company or otherwise subject it to any obligation, such power to be the sole right and obligation of the Company,
acting through its Board of Directors and/or the Company Officers. 
 (b) Subject to Section 4.2 and for purposes other
than to delegate its duties and powers to perform the Services hereunder, the Manager shall have the power to engage any agents (including real estate agents and managing agents), valuers, contractors and advisors (including accounting, financial,
tax and legal advisors) that it deems necessary or desirable in connection with the performance of its obligations hereunder, which costs therefor shall be subject to reimbursement in accordance with Section 7.2 hereto. 

 

	Section 4.2	Delegation 

 The
Manager may delegate or appoint: 
 (a) Any of its Affiliates as its agent, at its own cost and expense, to perform any or all
of the Services hereunder; or 
 (b) Any other Person, whether or not an Affiliate of the Manager, as its agent, at its own cost
and expense, to perform those Services hereunder which, in the sole discretion of the Manager, are not critical to the ability of the Manager to satisfy its obligations hereunder; 
 provided, however, that, in each case, the Manager shall not be relieved of any of its obligations or duties owed to the Company hereunder as a result of such delegation. The Manager shall be
permitted to share Company information with its appointed agents subject to appropriate and reasonable confidentiality arrangements. For the avoidance of doubt, any reference to Manager herein shall include its delegates or appointees pursuant to
this Section 4.2. 
  

	Section 4.3	Manager’s Obligations, Duties and Powers Exclusive 

 The Company agrees that during the term of this Agreement, the obligations, duties and powers imposed on and granted to the Manager under Article III and this Article IV are to be performed or held
exclusively by the Manager or its delegates and the Company shall not, through the exercise of the powers of their employees, Boards of Directors or their shareholders or members, as the case may be, perform any of the Services except in
circumstances where it is necessary to do so to comply with applicable law or as otherwise agreed to or delegated, in accordance with Section 4.2 hereof, by the Manager in writing. 

  
 12 

 ARTICLE V 

INSPECTION OF RECORDS 
  

	Section 5.1	Books and Records of the Company 

 At all reasonable times and on reasonable notice, the Manager and any Person authorized by the Manager shall have access to, and the right to inspect, for any reasonable purpose, during the term of this
Agreement and for a period of five (5) years after termination hereof, the books, records and data stored in computers and all documentation of the Company pertaining to all Services performed by the Manager or the Management Fee to be paid by
the Company to the Manager, in each case, hereunder. There shall be no cost or expense charged by any Party to another Party pursuant to the exercise of rights under this Section 5.1. 

 

	Section 5.2	Books and Records of the Manager 

 At all reasonable times and on reasonable notice, any Person authorized by the Company shall have access to, and the right to inspect the books, records and data stored in computers and all documentation
of the Manager pertaining to all Services performed by the Manager or the Management Fee to be paid by the Company to the Manager, in each case, hereunder. There shall be no cost or expense charged by any Party to another Party pursuant to the
exercise of rights under this Section 5.2. 
 ARTICLE VI 

AUTHORITY OF THE COMPANY 
 AND THE MANAGER 
 Each Party represents to the others that it is duly
authorized with full power and authority to execute, deliver and perform its obligations and duties under this Agreement. The Company represents that the engagement of the Manager has been duly authorized by the Board of Directors of the Company and
is in accordance with all governing documents of the Company. 
 ARTICLE VII 

MANAGEMENT FEE; EXPENSES 
  

	Section 7.1	Management Fee 

 (a)
Obligation. Subject to the terms and conditions set forth in this Section 7.1, for the term of this Agreement, (i) the MSA Administrator shall calculate the fee payable to the Manager in accordance with this Section 7.1
(the “Management Fee”), and the components thereof, in accordance with Section 7.1(b) hereof and (ii) the Company shall pay the Management Fee to the Manager in accordance with Section 7.1(d) hereof.

  
 13 

 (b) Calculation of Management Fee. Subject to Section 7.1(e) hereof; as
payment to the Manager for performing Services hereunder during any Fiscal Quarter or any part thereof; the MSA Administrator, as of any Calculation Date with respect to such Fiscal Quarter shall calculate, on or promptly following such Calculation
Date, the Management Fee with respect to such Fiscal Quarter, which shall be equal to, as of such Calculation Date, the product of (i) 0.5%, multiplied by (ii) Adjusted Net Assets as of such Calculation Date; provided,
however, that, with respect to the Fiscal Quarter in which this Agreement is terminated, the Management Fee shall be equal to the product of (i)(x) 0.5%, multiplied by (y) the Adjusted Net Assets as of such Calculation Date,
multiplied by (ii) a fraction, the numerator of which is the number of days from and including the first day of such Fiscal Quarter to but excluding the date upon which this Agreement is terminated and the denominator of which is the
number of days in such Fiscal Quarter (such amount so calculated in accordance with this proviso, the “Final Management Fee”). 
 (c) Adjustment of Management Fee. The amount of any Management Fee calculated in accordance with Section 7.1(b) hereof as of any Calculation Date shall be adjusted, on a
dollar-for-dollar basis (such Management Fee, as adjusted, the “Adjusted Management Fee”), by the MSA Administrator immediately prior to the Management Fee Payment Date with respect to such Calculation Date (such date of
adjustment, the “Adjustment Date”) as follows: 
 (i) reduced, on a
dollar-for-dollar basis by the aggregate amount of all Offsetting Management Fees, if any, accrued by the Manager from any of the Subsidiaries of the Company with respect to such Fiscal Quarter as of the date of such adjustment; provided, that the
Company shall separately guarantee, substantially in the form of Exhibit A hereto, the full, prompt and punctual payment of any unpaid Offsetting Management Fees, with full rights of subrogation; 

(ii) reduced, on a dollar-for-dollar basis, by the aggregate amount of all Over-Paid Management Fees, if any,
existing as of such Calculation Date; 
 (iii) increased, on a dollar-for-dollar basis, by the aggregate
amount of all Under-Paid Management Fees, if any, existing as of such Calculation Date; and 
 (iv)
increased, on a dollar-for-dollar basis, by the aggregate amount of all accrued and unpaid Management Fees, if any, as of such Calculation Date, without duplication of any of the foregoing. 

(d) Payment of Adjusted Management Fee. Subject to Section 7.1(f) hereof, the Company shall pay to the Manager, on the
Management Fee Payment Date with respect to any Calculation Date, the Adjusted Management Fee as of such Calculation Date. Any such payment shall be made in U.S. dollars by wire transfer in immediately available funds to an account or accounts
designated by the Manager from time to time. 
 (e) Basis for Calculation of Management Fee and Adjusted Management
Fee. The calculation of the Management Fee, including the components thereof, with respect to any 

  
 14 

 
Fiscal Quarter on any Calculation Date shall be based on (i) the Company’s audited consolidated financial statements to the extent available, (ii) if audited consolidated financial
statements are not available, then the Company’s unaudited consolidated financial statements to the extent available, and (iii) if neither audited nor unaudited consolidated financial statements are available, then the Company’s books
and records then available; provided, that, with respect to any calculation of the Management Fee based on the Company’s books and records, upon availability of the earlier of (x) the Company’s audited consolidated financial
statements and (y) the Company’s unaudited consolidated financial statements, in each case, relating to amounts previously calculated on such Calculation Date by reference to the Company’s books and records, the MSA Administrator
shall recalculate (A) any Management Fees, and any components thereof, that were previously calculated based on such books and records and (B) any Adjusted Management Fees that were calculated based on such Management Fees, in each case,
to determine if any Over-Paid Management Fee or Under-Paid Management Fee were outstanding as of such Calculation Date; provided, further, that the amount so recalculated shall be conclusive and binding on the Parties hereto and no further
recalculations shall be required or permitted except that a further recalculation shall be required and performed (A) upon a demonstration of clear error with respect to any prior calculation or recalculation or (B) upon the restatement of
the consolidated financial statements of the Company, or any amounts therein, underlying any prior calculation or recalculation, in each case, at any time. The calculation of Adjusted Management Fees, including the components thereof, as of any
Adjustment Date shall be made based on information that is available as of such Adjustment Date; provided, that if any events occur after such Adjustment Date that would affect the amount of Adjusted Management Fees calculated as of such
Adjustment Date, then the MSA Administrator shall recalculate Adjusted Management Fees as of such Adjustment Date to determine if any Over-Paid Management Fee or Under-Paid Management Fee were created as of the Calculation Date immediately
succeeding such Adjustment Date. Notwithstanding the foregoing, the calculation of the Final Management Fee, including the components thereof, shall be made and based on the Company’s unaudited consolidated financial statements for the
applicable Fiscal Quarter when such unaudited consolidated financial statements are available; provided, that, once calculated, no further recalculation of Final Management Fee shall be required or permitted. 

(f) Sufficient Liquidity. If the Company does not have sufficient liquid assets to timely pay the entire amount of the
Management Fee due on any Management Fee Payment Date, the Company shall liquidate assets or Incur Indebtedness in order to pay such Management Fee in full on such Management Fee Payment Date; provided, that the Manager may elect, in its sole
discretion by delivery of written notice to the Company prior to such Management Fee Payment Date, to allow the Company to defer the payment of all or any portion of the Management Fee otherwise due and payable on such Management Fee Payment Date
until the next succeeding Management Fee Payment Date and, thereby, enable the Company to avoid such liquidation or Incurrence. For the avoidance of doubt, the Manager may make such election to allow the Company to defer the payment of Management
Fees more than once, provided, however, that no such deferral shall be permitted unless the payment or payment so deferred would qualify as a “short term deferral” within the contemplation of Code Section 409A and the
Regulations promulgated thereunder (or any successor of similar import.). 
 (g) Books and Records. The MSA
Administrator shall maintain cumulative books and records with respect to the details of any calculations made pursuant to this Section 7.1, which records shall be available for inspection and reproduction at any time upon request by the Board
of Directors of the Company and, if the Manager is not the MSA Administrator, the Manager. 

  
 15 

	Section 7.2	Reimbursement of Expenses 

(a) Subject to Section 8.2 hereof, the Company shall reimburse the Manager for the following amounts that are actually incurred by
the Manager during the term of this Agreement: 
 (i) all costs and expenses of the Company that are incurred by
the Manager or its Affiliates on behalf of the Company, including all out-of-pocket costs and expenses incurred in connection with performing Services hereunder, and all costs and expenses the reimbursement of which is specifically approved by the
Board of Directors of the Company; and 
 (ii) the compensation and other costs and expenses of the Chief
Financial Officer and his or her staff, as approved by the Company’s compensation committee. 
 (b) Notwithstanding the
foregoing or anything else to the contrary herein, none of the Company, any Subsidiary of the Company or their Subsidiaries shall be obligated or responsible for reimbursing or otherwise paying for any costs or expenses relating to (i) the
Manager’s overhead or any other costs and expenses relating to the Manager’s conduct or maintenance of its business and operations as a provider of services, (ii) costs and expenses incurred by the Manager in connection with the
identification, evaluation, management, performance of due diligence on, negotiating and oversight of potential acquisitions by the Company where the Company (or the Manager on behalf of the Company) does not submit an indication of interest or
letter of intent to pursue such potential acquisition, including costs and expenses relating to travel, marketing and attendance at industry events and retention of outside service providers relating thereto and (iii) costs and expenses
incurred by the Manager in connection with the identification, evaluation, management, performance of due diligence on, negotiating and oversight of an acquisition by the Company if both (x) such acquisition is actually closed by the Company
and (y) the Subsidiary so acquired, by any manner whatsoever, in connection with such acquisition has entered into an Integration Services Agreement with the Manager under which such costs and expenses are being reimbursed. 

(c) Any such reimbursement shall be made upon demand by the Manager in U.S. dollars by wire transfer in immediately available funds to an
account or accounts designated by the Manager from time to time. 
 (d) Except as otherwise provided for in this
Section 7.2, all reimbursements made pursuant to this Section 7.2 shall be reviewed by the Company’s compensation committee on an annual basis in connection with the preparation of the Company’s year-end audited consolidated
financial statements. If the Company’s compensation committee identifies any discrepancy in such reimbursements, then the Company’s compensation committee, on behalf of the Company, and the Manager shall mutually resolve such discrepancy.

  
 16 

 ARTICLE VIII 

SECONDMENT OF OFFICERS BY THE MANAGER 
  

	Section 8.1	Secondment of the Chief Executive Officer and Chief Financial Officer 

 The Manager shall second to the Company individuals to serve as the Company’s Chief Executive Officer and Chief Financial Officer. The Company’s Board of Directors shall elect the seconded Chief
Executive Officer and Chief Financial Officer as officers of the Company in accordance with the terms of the LLC Agreement and the operational objectives and business plans of the Company in existence from time to time. The seconded Chief Executive
Officer and Chief Financial Officer shall report directly, and be subject, to the Company’s Board of Directors. 
  

	Section 8.2	Remuneration of the Chief Executive Officer and Chief Financial Officer 

 (a) The Chief Executive Officer and Chief Financial Officer seconded to the Company pursuant to this Article VIII shall, at all times, remain employees of, and be remunerated by, the Manager or an
Affiliate of the Manager. 
 (b) Except as set forth in Section 8.2(c) hereof, the Services performed for the Company by
the Chief Executive Officer and all other personnel, if any, of the Manager or its Affiliates shall be provided at the cost of the Manager or an Affiliate of the Manager. For the avoidance of doubt, except as set forth in Section 8.2(c) hereof,
the Company shall have no obligation to reimburse the Manager for the compensation and other compensation-related expenses of any employees, representatives, delegates and seconded officers of the Manager and its Affiliates. 

(c) The Services performed by the Chief Financial Officer and his or her staff shall be provided at the cost of the Manager or an
Affiliate of the Manager and reimbursed by the Company pursuant to Section 7.2 of this Agreement. 
 (d) The remuneration
of the Chief Financial Officer and any member of his or her staff that serves as an executive officer of the Company, shall be determined and approved by the Company’s compensation committee upon such Person’s engagement and on an annual
basis thereafter, with each annual determination and approval occurring in the year prior to the year to which such remuneration relates by reference to the following: 

(i) The standard remuneration guidelines as adopted by the Company or the Manager from time to time: 

(ii) The respective individual’s performance, the Manager’s performance and the performance, financial or
otherwise, of the Company and its Subsidiaries; and 
 (iii) The assessment by the Board of Directors of the
Company of the respective individual’s performance and the performance of the Manager. 
 (e) The Manager shall disclose
the amount of remuneration of the Chief Financial Officer and any other officer or employee seconded to the Company, including the Chief Executive Officer, to the Board of Directors of the Company to the extent required for the Company to comply
with the requirements of applicable law, including the Federal Securities Laws. 

  
 17 

	Section 8.3	Secondment of Additional Officers 

 The Manager and the Company’s Board of Directors may agree from time to time that the Manager shall second to the Company one or more additional individuals to serve as officers or otherwise of the
Company, upon such terms as the Manager and the Company’s Board of Directors may mutually agree. Any such individuals shall have such titles and fulfill such functions as the Manager and the Company may mutually agree. 

 

	Section 8.4	Removal of Seconded Officers 

 The Company’s Board of Directors, after due consultation with the Manager, may at any time request that the Manager replace any individual seconded to the Company as provided in this Article VIII and
the Manager shall, as promptly as practicable, replace any individual with respect to whom the Board of Directors shall have made its request, subject to the requirements for the election of officers under the LLC Agreement. 

 

	Section 8.5	Insurance 

 The Company
agrees it shall maintain adequate directors and officers insurance for any individuals seconded to the Company, with liability coverage of no less than $15 million. 
 ARTICLE IX 
 TERMINATION; RESIGNATION AND REMOVAL OF THE MANAGER

  

	Section 9.1	Resignation by the Manager 

The Manager may resign and terminate this Agreement at any time with 180 days’ prior written notice to the Company, which right shall
not be contingent upon the finding of a replacement manager. However, if the Manager resigns, until the date on which the resignation becomes effective, the Manager shall, upon request of the Company’s Board of Directors, use reasonable efforts
to assist the Company’s Board of Directors to find a replacement manager at no cost and expense to the Company. 

  
 18 

	Section 9.2	Removal of the Manager 

The Company’s Board of Directors may terminate this Agreement and the Manager’s appointment if, at any time; 

(a) (i) a majority of the Company’s Board of Directors vote to terminate this Agreement and (ii) the holders of at least a
majority of the then outstanding Trust Shares (other than Trust Shares beneficially owned by the Manager or its Affiliates) vote to terminate this Agreement; provided that the Company gives the Manager at least 180 days prior written notice of such
termination. 
 (b) there is a finding by a court of competent jurisdiction in a final, non-appealable order that (i) the
Manager materially breached the terms of this Agreement and such breach continued unremedied for sixty (60) days after the Manager received written notice from the Company setting forth the terms of such breach, or (ii) the Manager
(x) acted with gross negligence, willful misconduct, bad faith or reckless disregard in performing its duties and obligations under this Agreement or (y) engaged in fraudulent or dishonest acts in connection with the business and
operations of the Company; 
 (c) (i) the Manager has been convicted of a felony under Federal or State law, (ii) the
Company’s Board of Directors finds that the Manager is demonstrably and materially incapable of performing its duties and obligations under this Agreement, and (iii) the holders of at least sixty-six and two-thirds percentage (66 2/3%) of
then outstanding Trust Shares (other than Trust Shares beneficially owned by the Manager) vote to terminate this Agreement; or 

(d) (i) there is a finding by a court of competent jurisdiction that the Manager has (x) engaged in fraudulent or dishonest
acts in connection with the business or operations of the Company or (y) gross negligence, willful misconduct, bad faith or reckless disregard in performing its duties and obligations under this Agreement, and (ii) the holders of at least
sixty-six and two-thirds percentage (66 2/3%) of the then outstanding Trust Shares (other than Trust Shares beneficially owned by the Manager) vote to terminate this Agreement. 

 

	Section 9.3	Termination 

 Subject to
Section 13.4, this Agreement shall terminate upon the resignation or removal of the Manager in accordance with Sections 9.1 or 9.2 hereof. 
  

	Section 9.4	Termination Expenses 

 The
Company acknowledges that throughout the term of this Agreement, substantially all of the personnel and physical and electronic facilities and data processing infrastructure maintained by the Manager have been provided for the principal and primary
benefit of the Company. The Company further acknowledges that the Manager will incur substantial expenses to wind down its operations, including termination expenses relating to such employees, facilities and infrastructure upon a termination of
this Agreement, which expenses shall, subject to this Section 9.4, be borne by the Company if such termination is the result of the actions of the Company pursuant to Section 9.2(a) above. As soon as reasonably practicable following the
giving by the Company of notice of termination to the Manager as set forth in Section 9.2(a), but 

  
 19 

 
in no event later than ninety (90) days after receipt of such notice, the Manager will provide to the Company its calculation of such reasonable termination expenses together with reasonable
supporting documentation. The termination expenses to be borne by the Company pursuant to this Section 9.4 shall only include reasonable expenses (i) for up to eighteen (18) months of severance payments to employees of the Manager
(which payments shall be based upon, as applicable, each employee’s current annual salary) plus, if applicable, an amount equal to one and a half times such employee’s annual cash bonus for the previous fiscal year, provided, however, that
the Company shall not be required to reimburse the Manager for any severance and/or bonus payments to any person who is an equityholder of the Manager, (ii) related to the termination and/or winding down of leases for office space used by the
Manager in connection with the Services, (iii) for the termination and/or winding down of contracts and licenses related to computer software and hardware, and (iv) otherwise directly incurred by the Manager in connection with activities
customarily undertaken in the winding down of operations of a Company in the Manager’s line of business. Such termination expenses shall be paid to the Manager by the date that is ten (10) Business Days after the later of the date incurred
or the actual termination date of this Agreement. 
  

	Section 9.5	Seconded Individuals 

Upon the termination of this Agreement, all seconded officers, including the Chief Executive Officer and Chief Financial Officer,
employees, representatives and delegates of the Manager and its Affiliates who perform Services hereunder, shall resign their respective positions with the Company and cease working on behalf of the Company as of the date of such termination or at
such other time as determined by the Manager. Any Manager appointed director may continue to serve on the Company’s Board of Directors subject to the terms of the LLC Agreement. 

 

	Section 9.6	Termination of License; Withdrawal of Branding 

 If this Agreement is terminated pursuant to Section 9.2 of this Agreement, the right granted pursuant to Section 3.7 hereof shall terminate within 180 days of such termination and the Company
agrees, and the Company agrees to cause the Trust and its Subsidiaries, to cease using the term “Compass” or any of the Manager Marks entirely in its or their business or operations, as the case may be, within 180 days of such termination,
including by changing its name to remove any reference to the term “Compass” or the Manager Marks; provided, that, to the extent the Board of Directors of the Company deems it necessary or advisable, the Manager agrees that the
Trust, the Company and the Subsidiaries of the Company may use the term “Compass” or any of the Manager Marks in referencing their previous names. 
  

	Section 9.7	Directions 

 After a
written notice of termination has been given under this Article IX, the Company may direct the Manager to undertake any actions necessary to transfer any aspect of the ownership or control of the assets of the Company to the Company or to any
nominee of the Company and to do all other things necessary to bring the appointment of the Manager to an end, 

  
 20 

 
and the Manager shall comply with all such reasonable directions. In addition, the Manager shall, at the Company’s expense, deliver to any new manager or the Company any books or records
held by the Manager under this Agreement and shall execute and deliver such instruments and do such things as may reasonably be required to permit new management of the Company to effectively assume its responsibilities. 

ARTICLE X 
 INDEMNITY 
  

	Section 10.1	Indemnity 

 The Company
shall indemnify reimburse, defend and hold harmless the Manager and its successors and permitted assigns, together with their respective employees, officers, members, managers, directors, agents and representatives (collectively the
“Indemnified Parties”), from and against all losses (including lost profits), costs, damages, injuries, taxes, penalties, interests, expenses, obligations, claims and liabilities (joint or severable) of any kind or nature
whatsoever (collectively “Losses”) that are incurred by such Indemnified Parties in connection with, relating to or arising out of (i) the breach of any term or condition of this Agreement, or (ii) the performance
of any Services hereunder; provided, however, that the Company shall not be obligated to indemnify, reimburse, defend or hold harmless any Indemnified Party for any Losses incurred, by such Indemnified Party in connection with, relating to or
arising out of: 
 (a) a breach by such Indemnified Party of this Agreement; 

(b) the gross negligence, willful misconduct, bad faith or reckless disregard of such Indemnified Party in the performance of any
Services hereunder; 
 (c) fraudulent or dishonest acts of such Indemnified Party with respect to the Company or any of its
Subsidiaries; or 
 (d) a violation of applicable law. 
 The rights of any Indemnified Party referred to above shall be in addition to any rights that such Indemnified Party shall otherwise have at law or in equity. 

Without the prior written consent of the Company, no Indemnified Party shall settle, compromise or consent to the entry of any judgment
in, or otherwise seek to terminate any, claim, action, proceeding or investigation in respect of which indemnification could be sought hereunder unless (a) such Indemnified Party indemnifies the Company from any liabilities arising out of such
claim, action, proceeding or investigation, (b) such settlement, compromise or consent includes an unconditional release of the Company and Indemnified Party from all liability arising out of such claim, action, proceeding or investigation and
(c) the parties involved agree that the terms of such settlement, compromise or consent shall remain confidential. 

  
 21 

	Section 10.2	Insurance 

 The Company
agrees it shall maintain adequate insurance in support of the indemnity obligation set forth in this Article X. 
 ARTICLE
XI 
 LIMITATION OF LIABILITY OF THE MANAGER 

 

	Section 11.1	Limitation of Liability 

The Manager shall not be liable for, and the Company shall not take, or permit to be taken, any action against the Manager to hold the
Manager liable for, any error of judgment or mistake of law or for any loss suffered by the Company or its Subsidiaries (including, without limitation, by reason of the purchase, sale or retention of any security) in connection with the performance
of the Manager’s duties under this Agreement, except for a loss resulting from gross negligence, willful misconduct, bad faith or reckless disregard on the part of the Manager in the performance of its duties and obligations under this
Agreement, or its fraudulent or dishonest acts with respect to the Company or any of its Subsidiaries. 
  

	Section 11.2	Reliance of Manager 

 The
Manager may take and may act and rely upon: 
 (a) the opinion or advice of legal counsel, which may be in-house counsel to the
Company or the Manager, any U.S.-based law firm, or other legal counsel reasonably acceptable to the Board of Directors of the Company, in relation to the interpretation of this Agreement or any other document (whether statutory or otherwise) or
generally in connection with the Company; 
 (b) advice, opinions, statements or information from bankers, accountants,
auditors, valuation consultants and other Persons consulted by the Manager who are in each case believed by the Manager in good faith to be expert in relation to the matters upon which they are consulted; 

(c) a document which the Manager believes in good faith to be the original or a copy of an appointment by the Trust in respect of any
Trust Interest or holder of a Trust Certificate in respect of a share of Trust Shares of a Person to act as such Person’s agent for any purpose connected with the Company; and 

(d) any other document provided to the Manager in connection with the Company upon which it is reasonable for the Manager to rely.

 The Manager shall not be liable for anything done, suffered or omitted by it in good faith in reliance upon such opinion, advice, statement,
information or document. 

  
 22 

 ARTICLE XII 

LEGAL ACTIONS 
  

	Section 12.1	Third Party Claims 

 (a)
The Manager shall notify the Company promptly of any claim made by any third party in relation to the assets of the Company and shall send to the Company any notice, claim, summons or writ served on the Manager concerning the Company. 

(b) The Manager shall not, without the prior written consent of the Board of Directors of the Company, purport to accept or admit any
claims or liabilities of which it receives notification pursuant to Section 12. 1(a) above on behalf of the Company or make any settlement or compromise with any third party in respect of the Company. 

ARTICLE XIII 
 MISCELLANEOUS 
  

	Section 13.1	Obligation of Good Faith; No Fiduciary Duties 

 The Manager shall perform its duties under this Agreement in good faith and for the benefit of the Company. The relationship of the Manager to the Company is as an independent contractor and nothing in
this Agreement shall be construed to impose on the Manager an express or implied fiduciary duty. 
  

	Section 13.2	Binding Effect 

 This
Agreement shall be binding upon, shall inure to the benefit of and be enforceable by the Parties hereto and their respective successors and permitted assigns. 
  

	Section 13.3	Compliance 

 (a) The
Manager shall (and must ensure that each of its officers, agents and employees) comply with any law, including the Federal Securities Laws and the securities laws of any applicable jurisdiction and the New York Stock Exchange (or any successor
thereto) rules and regulations, in each case, as in effect from time to time, to the extent that it applies to the functions of the Manager under this Agreement. 
 (b) The Manager shall maintain management systems, policies and internal controls and procedures that reasonably ensure that the Manager and its employees comply with the terms and conditions of this
Agreement, as well as comply with the internal policies, controls and procedures established by the Company from time to time, including, without limitation, those relating to trading policies, conflicts of interest and similar corporate governance
measures. 

  
 23 

	Section 13.4	Effect of Termination 

This Agreement shall be effective as of the date first above written and shall continue in full force and effect thereafter until
termination hereof in accordance with Article IX. The obligations of the Company set forth in Articles VII, IX and X and Sections 8.2(c), 11.1, 13.5, 13.9 and 13.17 hereof shall survive such termination of this Agreement, subject to applicable law.

  

	Section 13.5	13.5 Notices 

 Any notice
or other communication required or permitted under this Agreement shall be deemed to have been duly given (i) five (5) Business Days following deposit in the mails if sent by registered or certified mail, postage prepaid, (ii) when
sent, if sent by facsimile transmission, if receipt thereof is confirmed by telephone, (iii) when delivered, if delivered personally to the intended recipient and (iv) two (2) Business Days following deposit with a nationally
recognized overnight courier service, in each case addressed as follows: 
 If to the Company, to: 

Attention: Chief Executive Officer 
 Compass Group Diversified Holdings LLC 
 Sixty One Wilton Road, Second Floor

 Westport, CT 06880 
 Fax: 203-221-8253 
 with a copy (which shall not constitute notice) to its counsel: 

Attention: Stephen C. Mahon 
 Squire Sanders (US) LLP 
 221 E. Fourth Street, Suite 2900 

Cincinnati, OH 45202 
 Fax: 513-361-4201 
 If to the Manager, to: 

Attention: Manager 
 Compass Group Management LLC 
 Sixty One Wilton Road, Second Floor 

Westport, CT 06880 
 Fax: 203-221 -8253 
 with a copy (which shall not constitute notice) to its counsel: 

Attention: Brian B. Snarr 
 Morrison Cohen, LLP 
 909 Third Avenue 

New York, NY 10022 
 Fax: 212-735-8708 

  
 24 

 or to such other address or facsimile number as any such Party may, from time to time, designate in writing
to all other Parties hereto, and any such communication shall be deemed to be given, made or served as of the date so delivered or, in the case of any communication delivered by mail, as of the date so received. 

 

	Section 13.6	Change of Membership. 

The Manager agrees to notify the Company of any change in the membership of the Manager within a reasonable time after such change.

  

	Section 13.7	Assignment 

 This
Agreement shall not be assignable by either party except by the Manager to any Person with which the Manager may merge or consolidate or to which the Manager transfers substantially all of its assets, and then only in the event that such assignee
assumes all of the obligations to the Company and the Subsidiaries of the Company hereunder and with the prior written consent of the Company. 
  

	Section 13.8	Headings 

 The headings in
this Agreement are included for convenience of reference only and in no way define or delimit any of the provisions hereof or otherwise affect their construction or effect. 

 

	Section 13.9	Applicable Law 

 This
Agreement, the legal relations between and among the Parties and the adjudication and the enforcement thereof shall be governed by and interpreted and construed in accordance with the laws of the State of New York, without regard to the conflicts of
law provisions thereof to the extent such principles or rules would require or permit the application of the laws of another jurisdiction. 
  

	Section 13.10	Submission to Jurisdiction; Waiver of Jury Trial 

 Each of the Parties hereby irrevocably acknowledges and consents that any legal action or proceeding brought with respect to any of the obligations arising under or relating to this Agreement may be
brought in the courts of the State of New York, County of New York or in the United States District Court for the Southern District of New York and each of the Parties hereby irrevocably submits to and accepts with regard to any such action or
proceeding, for itself and in respect of its property, generally and unconditionally, the non-exclusive jurisdiction of the aforesaid courts. Each Party hereby further irrevocably waives any claim that any such courts lack jurisdiction over such
Party, and agrees not to plead or claim, in any legal action or proceeding with respect to this Agreement or the transactions contemplated hereby brought in any of the aforesaid courts, that any such court lacks jurisdiction over such Party. Each
Party 

  
 25 

 
irrevocably consents to the service of process in any such action or proceeding by the mailing of copies thereof by registered or certified mail, postage prepaid, to such party, at its address
for notices set forth in Section 13.5 hereof; such service to become effective ten (10) days after such mailing. Each Party hereby irrevocably waives any objection to such service of process and further irrevocably waives and agrees not to
plead or claim in any action or proceeding commenced hereunder or under any other documents contemplated hereby that service of process was in any way invalid or ineffective. The foregoing shall not limit the rights of any Party to serve process in
any other manner permitted by applicable law. The foregoing consents to jurisdiction shall not constitute general consents to service of process in the State of New York for any purpose except as provided above and shall not be deemed to confer
rights on any Person other than the respective Parties. 
 Each of the Parties hereby waives any right it may have under the
laws of any jurisdiction to commence by publication any legal action or proceeding with respect this Agreement. To the fullest extent permitted by applicable law, each of the Parties hereby irrevocably waives the objection which it may now or
hereafter have to the laying of the venue of any suit, action or proceeding arising out of or relating to this Agreement in any of the courts referred to in this Section 13.8 and hereby further irrevocably waives and agrees not to plead or
claim that any such court is not a convenient forum for any such suit, action or proceeding. 
 The Parties agree that any
judgment obtained by any Party or its successors or assigns in any action, suit or proceeding referred to above may, in the discretion of such Party (or its successors or assigns), be enforced in any jurisdiction, to the extent permitted by
applicable law. 
 The Parties agree that the remedy at law for any breach of this Agreement may be inadequate and that should
any dispute arise concerning any matter hereunder, this Agreement shall be enforceable in a court of equity by an injunction or a decree of specific performance. Such remedies shall, however, be cumulative and nonexclusive, and shall be in addition
to any other remedies which the Parties may have. 
 Each Party hereby waives, to the fullest extent permitted by applicable
law, any right it may have to a trial by jury in respect of any litigation as between the Parties directly or indirectly arising out of, under or in connection with this Agreement or the transactions contemplated hereby or disputes relating hereto.
Each Party (i) certifies that no representative, agent or attorney of any other Party has represented, expressly or otherwise, that such other Party would not, in the event of litigation, seek to enforce the foregoing waiver and
(ii) acknowledges that it and the other Parties have been induced to enter into this Agreement by, among other things, the mutual waivers and certifications in this Section 13.8. 

 

	Section 13.11	Amendment; Waivers 

 No
term or condition of this Agreement may be amended, modified or waived without the prior written consent of the Party against whom such amendment, modification or waiver will be enforced; provided, that any amendment of Article VII or
Section 8.2 hereof shall not be effective as to any Party hereto unless such amendment was authorized and approved by the 

  
 26 

 
Company’s compensation committee. Any waiver granted hereunder shall be deemed a specific waiver relating only to the specific event giving rise to such waiver and not as a general waiver of
any term or condition hereof. 
  

	Section 13.12	Remedies to Prevailing Party 

 If any action at law or equity is necessary to enforce or interpret the terms of this Agreement, the prevailing party shall be entitled to reasonable attorneys’ fees, costs, and necessary
disbursements in addition to any other relief to which such party may be entitled. 
  

	Section 13.13	Severability 

 Each
provision of this Agreement is intended to be severable from the others so that if, any provision or term hereof is illegal, invalid or unenforceable for any reason whatsoever, such illegality, invalidity or unenforceability shall not affect or
impair the validity of the remaining provisions and terms hereof; provided, however, that the provisions governing payment of the Management Fee described in Article VII hereof are not severable. 

 

	Section 13.14	Benefits Only to Parties 

Nothing expressed by or mentioned in this Agreement is intended or shall be construed to give any Person other than the Parties and their
respective successors or permitted assigns, any legal or equitable right, remedy or claim under or in respect of this Agreement or any provision herein contained, this Agreement and all conditions and provisions hereof being intended to be and being
for the sole and exclusive benefit of the Parties and their respective successors and permitted assigns, and for the benefit of no other Person. 
  

	Section 13.15	Further Assurances 

 Each
Party hereto shall take any and all such actions, and execute and deliver such further agreements, consents, instruments and any other documents as may be necessary from time to time to give effect to the provisions and purposes of this Agreement.

  

	Section 13.16	No Strict Construction 

The Parties have participated jointly in the negotiation and drafting of this Agreement. In the event any ambiguity or question of intent
or interpretation arises, this Agreement shall be construed as if drafted jointly by all Parties, and no presumption or burden of proof shall arise favoring or disfavoring any Party by virtue of the authorship of any provision of this Agreement.

  

	Section 13.17	Entire Agreement 

 This
Agreement constitutes the sole and entire agreement of the Parties with regards to the subject matter of this Agreement. Any written or oral agreements, statements, promises, negotiations or representations not expressly set forth in this Agreement
are of no force and effect. 

  
 27 

	Section 13.18	Confidentiality 

 (a) The
Manager shall not, and the Manager shall cause its Affiliates and their respective agents and representatives not to, at any time from and after the date of this Agreement, directly or indirectly, disclose or use any confidential or proprietary
information involving or relating to (x) the Company, including any information contained in the books and records of the Company and (y) the Company’s Subsidiaries, including any information contained in the books and records of any
such Subsidiaries; provided, however, that disclosure and use of any information shall be permitted (i) with the prior written consent of the Company, (ii) as, and to the extent, expressly permitted by this Agreement, any Offsetting
Management Services Agreement, any Integration Services Agreement or any other agreement between the Manager and the Company or any of the Company’s Subsidiaries (but only to the extent that such information relates to such Subsidiaries),
(iii) as, and solely to the extent, necessary or required for the performance by the Manager, any of its Affiliates or its delegates of any of their respective obligations under this Agreement, (iv) as, and to the extent, necessary or
required in the operation of the Company’s business or operations in the Ordinary Course of Business, (v) to the extent such information is generally available to, or known by, the public or otherwise has entered the public domain (other
than as a result of disclosure in violation of this Section 13.16 by the Manager or any of its Affiliates), (vi) as, and to the extent, necessary or required by any governmental order, applicable law or any governmental authority, subject
to Section 13.16(d), and (vii) as, and to the extent, necessary or required or reasonably appropriate in connection with the enforcement of any right or remedy relating to this Agreement, any Offsetting Management Services Agreement, any
Integration Services Agreement or any other agreement between the Manager and the Company or any of the Company’s Subsidiaries. 
 (b) The Manager shall produce and implement policies and procedures that are reasonably designed to ensure compliance by the Manager’s directors, officers, employees, agents and representatives with
the requirements of this Section 13.16. 
 (c) For the avoidance of doubt, confidential information includes business
plans, financial information, operational information, strategic information, legal strategies or legal analysis, formulas, production processes, lists, names, research, marketing, sales information and any other information similar to any of the
foregoing or serving a purpose similar to any of the foregoing with respect to the business or operations of the Company or any of its Subsidiaries. However, the Parties are not required to mark or otherwise designate information as
“confidential or proprietary information,” “confidential” or “proprietary” in order to receive the benefits of this Section 13.16. 
 (d) In the event that the Manager is required by governmental order, applicable law or any governmental authority to disclose any confidential information of the Company or any of its Subsidiaries that is
subject to the restrictions of this Section 13.16, the Manager shall (i) notify the Company or any of its Subsidiaries in writing as soon as possible, unless it is otherwise affirmatively prohibited by such governmental order, applicable
law or such governmental authority from notifying the Company or any such Subsidiaries, as the case may be, (ii) cooperate with the Company or any such Subsidiaries to preserve the confidentiality of such

  
 28 

 
confidential information consistent with the requirements of such governmental order, applicable law or such governmental authority and (iii) use its reasonable best efforts to limit any
such disclosure to the minimum disclosure necessary or required to comply with such governmental order, applicable law or such governmental authority, in each case, at the cost and expense of the Company. 

(e) Nothing in this Section 13.16 shall prohibit the Manager from keeping or maintaining any copies of any records, documents or
other information that may contain information that is otherwise subject to the requirements of this Section 13.16, subject to its compliance with this Section 13.16. 

(f) The Manager shall be responsible for any breach or violation of the requirements of this Section 13.16 by any of its agents or
representatives. 
  

	Section 13.19	Counterparts 

 This
Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original, but all of which together shall constitute but one and the same instrument. 

[Signature Page Follows] 

  
 29 

 IN WITNESS WHEREOF, the Parties have executed this Fifth Amended and Restated
Management Services Agreement as of the date first written above to be effective as of July 1, 2013. 
  

			
	COMPASS GROUP MANAGEMENT LLC
		
	By:	 	 /s/ Elias J. Sabo

	Name:	 	Elias J. Sabo
	Title:	 	Managing Member
	
	COMPASS GROUP DIVERSIFIED HOLDINGS
	LLC	 	
		
	By:	 	 /s/ James J. Bottiglieri

	Name:	 	James J. Bottiglieri
	Title:	 	Chief Financial Officer

 [Signature Page Amended and Restated Management Services Agreement] 

  
 30 

 Exhibit A 

GUARANTEE 

Compass Group Diversified Holdings LLC (the “Company”) hereby guarantees to Compass Group Management LLC (the
“Manager”) the full, prompt and punctual payment by any and all Subsidiaries (as defined in that certain Amended and Restated Management Services Agreement by and between the Company and the Manager, dated June [ ], 2013 and
originally effective as of May 16, 2006 (the “MSA”)) of the Company of any and all Offsetting Management Fees due and owing to the Manager (as defined in the MSA), with full rights of subrogation to and in respect of the
Manager’s rights in respect thereof (the “Guaranteed Obligations”). 
 This guarantee shall
continue in full force and effect with respect to all Guaranteed Obligations until all such Guaranteed Obligations are paid and performed in full. 
 Date: July 1, 2013 
  

							
	COMPANY:
	
	 COMPASS GROUP DIVERSIFIED HOLDINGS LLC,
 a Delaware limited liability company

			
		 	By:	 	  

		 		 	Name:	 	James J. Bottiglieri
		 		 	Title:	 	Chief Financial Officer

 ACKNOWLEDGED: 
 MANAGER: 
  

					
	COMPASS GROUP MANAGEMENT LLC,
	a Delaware limited liability company
			
		 	By:	 	  

		 	Name:	 	  

		 	Title:	 	  

  
 31

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00218-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00218-of-00352.parquet"}]]