Document:

Registration Rights Agreement, dated as of June 1, 2011

 Exhibit 4.4 
 EXECUTION VERSION 
 REGISTRATION RIGHTS AGREEMENT 

by and among 

BakerCorp International, Inc. 
 and the Guarantors party hereto, 
 and 

Morgan Stanley & Co. Incorporated 
 and 
 Deutsche Bank Securities Inc. 

as Initial Purchasers 
 Dated as of June 1, 2011 

 REGISTRATION RIGHTS AGREEMENT 

This Registration Rights Agreement (this “Agreement”) is made and entered into as of June 1, 2011, by and among
BakerCorp International, Inc., a Delaware corporation (the “Company” or the “Issuer”), certain subsidiaries of the Company signatory hereto (the “Guarantors”), Morgan Stanley & Co.
Incorporated and Deutsche Bank Securities Inc., as the initial purchasers (the “Initial Purchasers”). The Initial Purchasers have agreed to purchase pursuant to the Purchase Agreement (as defined below) $240,000,000 aggregate
principal amount of the Company’s 8.25% Senior Notes due 2019 (the “Initial Notes”) issued by the Company on the date hereof. The Guarantors will fully and unconditionally guarantee (the “Initial Guarantees”),
on a senior unsecured basis, the obligations of the Issuer (as defined below) under the Initial Notes. The Initial Notes and the Initial Guarantees are herein collectively referred to as the “Initial Securities.” 

This Agreement is made pursuant to the Purchase Agreement, dated as of May 17, 2011 (as amended, modified or supplemented, the
“Purchase Agreement”), among B-Corp Merger Sub, Inc., a Delaware corporation (the “MergerCo”), and the Initial Purchasers and supplemented as of the date of this Agreement by the joinder agreement to the Purchase
Agreement by and among the Company, the Guarantors and the Initial Purchasers for (i) the benefit of the Initial Purchasers and (ii) the benefit of the holders from time to time of the Initial Securities, including the Initial Purchasers.
In order to induce the Initial Purchasers to purchase the Initial Securities, the Company and the Guarantors have agreed to cause MergerCo, the Company and the Guarantors to provide the registration rights set forth in this Agreement. The execution
and delivery of this Agreement is a condition to the obligations of the Initial Purchasers set forth in Section 5(h) of the Purchase Agreement. 
 The parties hereby agree as follows: 
 SECTION 1. Definitions. As
used in this Agreement, the following capitalized terms shall have the following meanings: 
 Additional Interest Payment
Date: With respect to the Initial Securities, each Interest Payment Date. 
 Advice: As defined in
Section 6(c) hereof. 
 Broker-Dealer: Any broker or dealer registered under the Exchange Act. 

Business Day: Any day other than a Saturday, Sunday or U.S. federal holiday or a day on which banking institutions or trust
companies located in New York, New York are authorized or obligated to be closed. 
 Closing Date: The date of this
Agreement. 
 Commission: The U.S. Securities and Exchange Commission. 

Consummate: A registered Exchange Offer shall be deemed “Consummated” for purposes of this Agreement upon the occurrence
of (i) the filing and effectiveness under the Securities 

 
Act of the Exchange Offer Registration Statement relating to the Exchange Securities to be issued in the Exchange Offer, (ii) the keeping of the Exchange Offer open for a period not less
than the minimum period required pursuant to Section 3(b) hereof, and (iii) the delivery by the Issuer to the Registrar under the Indenture of Exchange Securities in the same aggregate principal amount as the aggregate principal amount of
Initial Securities that were tendered by Holders thereof pursuant to the Exchange Offer. 
 Delay Period: As defined in
Section 6(c) hereof. 
 Effectiveness Target Date: As defined in Section 5 hereof. 

Exchange Act: The Securities Exchange Act of 1934, as amended. 

Exchange Offer: The registration by the Issuer under the Securities Act of the Exchange Securities pursuant to a Registration
Statement pursuant to which the Issuer offers the Holders of all outstanding Initial Securities the opportunity to exchange all such outstanding Initial Securities held by such Holders for Exchange Securities in an aggregate principal amount equal
to the aggregate principal amount of the Initial Securities tendered in such exchange offer by such Holders. 
 Exchange
Offer Effectiveness Target Date: As defined in Section 5 hereof. 
 Exchange Offer Registration Statement: The
Registration Statement relating to the Exchange Offer, including the related Prospectus. 
 Exchange Securities: The
8.25% Senior Notes due 2019 of the same series under the Indenture as the Initial Notes of such series and the guarantees of such notes, to be issued to Holders in exchange for Transfer Restricted Securities pursuant to this Agreement. 

Free Writing Prospectus: Any free writing prospectus, as such term is defined in Rule 405 under the Securities Act, relating to
any portion of the Initial Securities and the Exchange Securities. 
 FINRA: Financial Industry Regulatory Authority,
Inc. 
 Holder: As defined in Section 2(b) hereof. 

Indemnified Holder: As defined in Section 8(a) hereof. 

Indenture: The Initial Indenture, as supplemented by the Supplemental Indenture. 

Initial Guarantees: As defined in the preamble hereto. 
 Initial Indenture: The indenture dated as of June 1, 2011, by and among MergerCo and Wells Fargo Bank, National Association, as trustee (“Trustee”) pursuant to which the
Initial Notes were issued and the Exchange Securities are to be issued as such Indenture may be further amended or supplemented from time to time in accordance with the terms thereof. 

  
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 Initial Notes: As defined in the preamble hereto. 

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

Initial Securities: As defined in the preamble hereto. 

Interest Payment Date: As defined in the Securities. 
 Merger: The merger of MergerCo with and into the Company on the date hereof 

Person: An individual, partnership, corporation, trust or unincorporated organization, or a government or agency or political
subdivision thereof. 
 Prospectus: The prospectus included in a Registration Statement, as amended or supplemented by
any prospectus supplement and by all other amendments thereto, including post-effective amendments, and all material incorporated by reference into such Prospectus. 
 Purchase Agreement: As defined in the preamble hereto. 
 Registration
Default: As defined in Section 5 hereof. 
 Registration Statement: Any registration statement of the Issuer
relating to (a) an offering of Exchange Securities pursuant to an Exchange Offer or (b) the registration for resale of Transfer Restricted Securities pursuant to the Shelf Registration Statement, which is filed pursuant to the provisions
of this Agreement, in each case, including the Prospectus included therein, all amendments and supplements thereto (including post-effective amendments) and all exhibits and material incorporated by reference therein. 

Securities: As defined in the Indenture. 
 Securities Act: The Securities Act of 1933, as amended. 
 Shelf Filing
Deadline: As defined in Section 4(a) hereof. 
 Shelf Registration Effectiveness Target Date: As defined in
Section 5 hereof. 
 Shelf Registration Statement: As defined in Section 4(a) hereof. 

Supplemental Indenture: Means the supplemental indenture that will be executed by the Company and the Guarantors on the date
hereof in which in which the Company will assume the rights and obligations of MergerCo under the Initial Indenture and the Guarantors will guarantee such obligations effective as of and from the closing date of the Merger. 

Transfer Restricted Securities: Each Initial Security and Exchange Security, until the earliest to occur of (a) in the case
of an Initial Security, the date on which such Initial Security is exchanged in the Exchange Offer for an Exchange Security entitled to be resold to the public by 

  
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the Holder thereof without complying with the prospectus delivery requirements of the Securities Act, (b) the date on which such Initial Security or Exchange Security, as the case may be,
has been effectively registered under the Securities Act and disposed of in accordance with a Shelf Registration Statement and (c) the date on which such Initial Security or Exchange Security, as the case may be, is distributed by a
Broker-Dealer pursuant to the “Plan of Distribution” contemplated by the Exchange Offer Registration Statement (including delivery of the Prospectus contained therein). 

Trust Indenture Act: The Trust Indenture Act of 1939, as amended. 

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

(a) Transfer Restricted Securities. The securities entitled to the benefits of this Agreement are the Transfer Restricted
Securities. 
 (b) Holders of Transfer Restricted Securities. A Person is deemed to be a holder of Transfer Restricted
Securities (each, a “Holder”) whenever such Person owns Transfer Restricted Securities. 
 SECTION 3.
Registered Exchange Offer. 
 (a) Unless the Exchange Offer shall not be permissible under applicable law or Commission
policy, each of the Issuer and the Guarantors shall (i) use its commercially reasonable efforts to cause to be filed with the Commission the Exchange Offer Registration Statement within 365 days after the Closing Date (or if such 365th day is
not a Business Day, the next succeeding Business Day), (ii) use its commercially reasonable efforts to cause such Registration Statement to become effective as promptly as possible (unless it becomes effective automatically upon filing), but in
no event later than 455 days after the Closing Date (or if such 455th day is not a Business Day, the next succeeding Business Day), (iii) in connection with the foregoing, file (A) all pre-effective amendments to such Registration
Statement as may be necessary in order to cause such Registration Statement to become effective, (B) if applicable, a post-effective amendment to such Registration Statement pursuant to Rule 430A under the Securities Act and (C) cause all
necessary filings in connection with the registration and qualification of the Exchange Securities to be made under the state securities or blue sky laws of such jurisdictions as are necessary to permit Consummation of the Exchange Offer, and
(iv) within three Business Days of the effectiveness of such Registration Statement, commence the Exchange Offer. The Exchange Offer Registration Statement shall be on the appropriate form permitting registration of the Exchange Securities to
be offered in exchange for the Initial Securities and to permit resales of Initial Securities held by Broker-Dealers as contemplated by Section 3(c) hereof. 
 (b) The Issuer and the Guarantors shall use commercially reasonable efforts to cause the Exchange Offer Registration Statement to be effective continuously and shall keep the Exchange Offer open for a
period of not less than the minimum period required under applicable federal and state securities laws to Consummate the Exchange Offer; provided, however, that in no event shall such period be less than 20 Business Days after the date
notice of the Exchange 

  
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Offer is mailed to the Holders. The Issuer shall cause the Exchange Offer to comply with all applicable federal and state securities laws. No securities other than the Exchange Securities (or any
securities issued in the form of Additional Notes (as defined in the Indenture) under the Indenture) shall be included in the Exchange Offer Registration Statement. The Issuer shall use its commercially reasonable efforts to cause the Exchange Offer
to be Consummated on the earliest practicable date after the Exchange Offer Registration Statement has become effective, but in no event later than 30 Business Days after the date notice of the Exchange Offer is required to be mailed to the Holders.

 (c) The Issuer shall indicate in a “Plan of Distribution” section contained in the Prospectus forming a part of the
Exchange Offer Registration Statement that any Broker-Dealer who holds Initial Securities that are Transfer Restricted Securities and that were acquired for its own account as a result of market-making activities or other trading activities (other
than Transfer Restricted Securities acquired directly from the Issuer) may exchange such Initial Securities pursuant to the Exchange Offer; however, such Broker-Dealer may be deemed to be an “underwriter” within the meaning of the
Securities Act and must, therefore, deliver a prospectus meeting the requirements of the Securities Act in connection with any resales of the Exchange Securities received by such Broker-Dealer in the Exchange Offer, which prospectus delivery
requirement may be satisfied by the delivery by such Broker-Dealer of the Prospectus contained in the Exchange Offer Registration Statement. Such “Plan of Distribution” section shall also contain all other information with respect to such
resales by Broker-Dealers that the Commission may require in order to permit such resales pursuant thereto, but such “Plan of Distribution” shall not name any such Broker-Dealer or disclose the amount of Initial Securities held by any such
Broker-Dealer except to the extent required by the Commission. 
 Each of the Issuer and the Guarantors shall use its
commercially reasonable efforts to keep the Exchange Offer Registration Statement continuously effective, supplemented and amended as required by the provisions of Section 6(c) hereof to the extent necessary to ensure that it is available for
resales of Initial Securities acquired by Broker-Dealers for their own accounts as a result of market-making activities or other trading activities, and to ensure that it conforms with the requirements of this Agreement, the Securities Act and the
policies, rules and regulations of the Commission as announced from time to time, for a period ending on the earlier of (i) 90 days from the date on which the Exchange Offer Registration Statement is declared effective and (ii) the date on
which a Broker-Dealer is no longer required to deliver a prospectus in connection with market-making or other trading activities. The Issuer shall provide sufficient copies of the latest version of such Prospectus to Broker-Dealers promptly upon
request at any time during such 90-day (or shorter as provided in the foregoing sentence) period in order to facilitate such resales. 
 SECTION 4. Shelf Registration. 
 (a) Shelf Registration. If
(i) with respect to the Initial Notes: (x) the Issuer and the Guarantors are not permitted to consummate the Exchange Offer because the Exchange Offer is not permitted by applicable law or Commission policy or (y) for any reason the
Exchange Offer is not Consummated within 30 Business Days after the date notice of the Exchange Offer is required to be mailed to the Holders, or (ii) with respect to any Holder of Transfer Restricted Securities (A) such Holder is
prohibited by applicable law or Commission policy from participating in 

  
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the Exchange Offer, or (B) such Holder may not resell the Exchange Securities acquired by it in the Exchange Offer to the public without delivering a prospectus (other than by reason of such
Holder’s status as an affiliate of the Issuer) and the Prospectus contained in the Exchange Offer Registration Statement is not appropriate or available for such resales by such Holder, or (C) such Holder is a Broker-Dealer and holds
Initial Securities acquired directly from the Issuer or one of its affiliates, then, upon such Holder’s request prior to the 20th day following Consummation of the Exchange Offer, the Issuer and the Guarantors shall, with respect to the Initial
Securities or Exchange Securities, as the case may be: 
 (x) cause to be filed a shelf registration statement
pursuant to Rule 415 under the Securities Act, which may be an amendment to the Exchange Offer Registration Statement (in either event, the “Shelf Registration Statement”) within the later of 30 days after such filing obligation
arises and 455 days after the Closing Date (or if such day is not a Business Day, the next succeeding Business Day) (such date being the “Shelf Filing Deadline”), which Shelf Registration Statement shall provide for resales of all
Transfer Restricted Securities the Holders of which shall have provided the information required pursuant to Section 4(b) hereof; and 
 (y) use their commercially reasonable efforts to cause such Shelf Registration Statement to be declared effective by the Commission as promptly as possible (unless it becomes effective automatically upon
filing), and in any event on or before the 40th day after the obligation to file such Shelf Registration Statement arises (or if such 40th day is not a Business Day, the next succeeding Business Day). 

Each of the Issuer and the Guarantors shall use its commercially reasonable efforts to keep such Shelf Registration Statement
continuously effective, supplemented and amended as required by the provisions of Sections 6(b) and (c) hereof to the extent necessary to ensure that it is available for resales of Transfer Restricted Securities by the Holders thereof entitled
to the benefit of this Section 4(a), and to ensure that it conforms with the requirements of this Agreement, the Securities Act and the policies, rules and regulations of the Commission as announced from time to time, for a period of at least
one year following the effective date of such Shelf Registration Statement (or shorter period that will terminate when all the Initial Securities covered by such Shelf Registration Statement have been sold pursuant to such Shelf Registration
Statement). Subject to Section 6(c), during the period during which the Issuer is required to maintain an effective Shelf Registration Statement pursuant to this Agreement, the Issuer will, prior to the expiration of that Shelf Registration
Statement, file, and use its commercially reasonable efforts to cause to be declared effective (unless it becomes effective automatically upon filing) within a period that avoids any interruption in the ability of Holders of Securities covered by
the expiring Shelf Registration Statement to make registered dispositions, a new registration statement relating to the Securities, which shall be deemed the “Shelf Registration Statement” for purposes of this Agreement. 

(b) Provision by Holders of Certain Information in Connection with the Shelf Registration Statement. No Holder of Transfer
Restricted Securities may include any of its Transfer Restricted Securities in any Shelf Registration Statement pursuant to this Agreement unless and until such Holder furnishes to the Issuer in writing, within 20 days after receipt of a request
therefor, such information as the Issuer may reasonably request for use in connection with any 

  
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Shelf Registration Statement or Prospectus or preliminary Prospectus included therein or amendment or supplement thereto or Free Writing Prospectus. Each Holder as to which any Shelf Registration
Statement is being effected agrees to furnish promptly to the Issuer all information required to be disclosed in order to make the information previously furnished to the Issuer by such Holder not materially misleading. 

SECTION 5. Additional Interest. If (i) unless the Exchange Offer shall not be permissible under applicable law or Commission
policy, the Exchange Offer Registration Statement has not been declared effective by the Commission (or become automatically effective) on or prior to 455 days after the Closing Date (the “Exchange Offer Effectiveness Target Date”),
(ii) in the event the Issuer and the Guarantors are required to file a Shelf Registration Statement pursuant to Section 4(a) hereof, the Shelf Registration Statement has not been declared effective by the Commission (or become
automatically effective) on or prior to the later of 40 days after the obligation to file a Shelf Registration Statement arises and 455 days after the Closing Date (the “Shelf Registration Effectiveness Target Date” and, together
with the Exchange Offer Effectiveness Target Date, the “Effectiveness Target Date”), (iii) the Exchange Offer has not been Consummated within 30 Business Days after the Exchange Offer Effectiveness Target Date with respect to
the Exchange Offer Registration Statement, or (iv) any Registration Statement required by this Agreement is filed and declared effective but shall thereafter cease to be effective or fails to be usable for its intended purpose without being
succeeded immediately by a post-effective amendment to such Registration Statement that cures such failure and that is itself immediately declared or automatically effective (except in the case of a Registration Statement that ceases to be effective
or usable as specifically permitted by the last paragraph of Section 6 hereof) (each such event referred to in clauses (i) through (iv), a “Registration Default”), the Issuer and the Guarantors hereby agree that the
interest rate borne by the affected series of Transfer Restricted Securities shall be increased by 0.25% per annum during the 90-day period immediately following the occurrence of any Registration Default and shall increase by 0.25% per
annum at the end of each subsequent 90-day period, but in no event shall such increase exceed 1.00% per annum (the “Additional Interest”). Following the cure of all Registration Defaults relating to any particular Transfer
Restricted Securities, the interest rate borne by the relevant Transfer Restricted Securities will be reduced to the original interest rate borne by such Transfer Restricted Securities; provided, however, that, if after any such
reduction in interest rate, a different Registration Default occurs, the interest rate borne by the relevant Transfer Restricted Securities shall again be increased pursuant to the foregoing provisions. 

Notwithstanding the foregoing, (i) the amount of Additional Interest payable shall not increase because more than one Registration
Default has occurred and is pending and (ii) a Holder of Transfer Restricted Securities shall be entitled to Additional Interest with respect to a Registration Default that pertains to a Shelf Registration Statement required pursuant to
Section 4(a)(ii) above only if such Holder shall have made the request required by Section 4(a)(ii) on a timely basis. 
 All obligations of the Issuer and the Guarantors set forth in this Section 5 that are outstanding with respect to any Transfer Restricted Security at the time such security ceases to be a Transfer
Restricted Security shall survive until such time as all such obligations with respect to such security shall have been satisfied in full. 

  
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 SECTION 6. Registration Procedures. 

(a) Exchange Offer Registration Statement. In connection with the Exchange Offer, the Issuer and the Guarantors shall comply with
all of the applicable provisions of Section 6(c) hereof, shall use their commercially reasonable efforts to effect such exchange to permit the sale of Transfer Restricted Securities being sold in accordance with the intended method or methods
of distribution thereof, and shall comply with all of the following provisions: 
 (i) As a condition to its
participation in the Exchange Offer pursuant to the terms of this Agreement, each Holder of Transfer Restricted Securities shall furnish, upon the request of the Issuer, prior to the Consummation thereof, a written representation to the Issuer
(which may be contained in the letter of transmittal contemplated by the Exchange Offer Registration Statement) to the effect that (A) it is not an affiliate of the Issuer, (B) it is not engaged in, and does not intend to engage in, and
has no arrangement or understanding with any Person to participate in, a distribution of the Exchange Securities to be issued in the Exchange Offer and (C) it is acquiring the Exchange Securities in its ordinary course of business. In addition,
all such Holders of Transfer Restricted Securities shall otherwise cooperate in the Issuer’s preparations for the Exchange Offer. Each Holder hereby acknowledges and agrees that any Broker-Dealer and any such Holder using the Exchange Offer to
participate in a distribution of the securities to be acquired in the Exchange Offer (1) cannot under Commission policy as in effect on the date of this Agreement rely on the position of the Commission enunciated in Morgan Stanley and Co.,
Inc. (available June 5, 1991) and Exxon Capital Holdings Corporation (available May 13, 1988), as interpreted in the Commission’s letter to Shearman & Sterling dated July 2, 1993, and similar no-action letters
(which may include any no-action letter obtained pursuant to clause (i) above), and (2) must comply with the registration and prospectus delivery requirements of the Securities Act in connection with a secondary resale transaction and that
such a secondary resale transaction should be covered by an effective registration statement containing the selling security holder information required by Item 507 or 508, as applicable, of Regulation S-K if the resales are of Exchange
Securities obtained by such Holder in exchange for Initial Securities acquired by such Holder directly from the Issuer. 
 (b)
Shelf Registration Statement. In connection with the Shelf Registration Statement, each of the Issuer and the Guarantors shall comply with all the provisions of Section 6(c) hereof and shall use its commercially reasonable efforts to
effect such registration (unless automatically declared effective) to permit the sale of the Transfer Restricted Securities being sold in accordance with the intended method or methods of distribution thereof, and pursuant thereto each of the Issuer
and the Guarantors will as expeditiously as is commercially reasonable prepare and file with the Commission a Registration Statement relating to the registration on any appropriate form under the Securities Act, which form shall be available for the
sale of the Transfer Restricted Securities in accordance with the intended method or methods of distribution thereof. 

  
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 (c) General Provisions. In connection with any Registration Statement and any
Prospectus required by this Agreement to permit the sale or resale of Transfer Restricted Securities and any Free Writing Prospectus (including, without limitation, any Registration Statement and the related Prospectus required to permit resales of
Initial Securities by Broker-Dealers and any Free Writing Prospectus related thereto), each of the Issuer and the Guarantors shall: 
 (i) use its commercially reasonable efforts to keep such Registration Statement continuously effective during the period required by this Agreement and provide all requisite financial statements
(including, if required by the Securities Act or any regulation thereunder, financial statements of the Guarantors for the period specified in Section 3 or 4 hereof, as applicable); upon the occurrence of any event that would cause any such
Registration Statement or the Prospectus contained therein (A) to contain a material misstatement or omission or (B) not to be effective and usable for resale of Transfer Restricted Securities during the period required by this Agreement,
the Issuer shall file promptly an appropriate amendment to such Registration Statement, in the case of clause (A), correcting any such misstatement or omission, and, in the case of either clause (A) or (B), use its commercially reasonable
efforts to cause such amendment to be declared effective (unless automatically declared effective) and such Registration Statement and the related Prospectus to become usable for their intended purpose(s) as soon as practicable thereafter;

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

(iii) advise the underwriter(s), if any, and selling Holders promptly and, if requested by such Persons, to confirm such
advice in writing, (A) when the Prospectus, any Prospectus supplement, any post-effective amendment or any Free Writing Prospectus has been filed, and, with respect to any Registration Statement or any post-effective amendment thereto, when the
same has become effective, (B) of any request by the Commission for amendments to the Registration Statement or amendments or supplements to the Prospectus or for additional information relating thereto, (C) of the issuance by the
Commission of any stop order suspending the effectiveness of the Registration Statement under the Securities Act, of the suspension by any state securities commission of the qualification of the Transfer Restricted Securities for offering or sale in
any jurisdiction, or the initiation of any proceeding for any of the preceding purposes, of the issuance by the Commission of a notification of objection to the use of the form on which the Registration Statement has been filed, (D) of the
existence of any fact or the happening of any event that makes any statement of a material fact made in the Registration Statement, the Prospectus, any amendment or supplement thereto or any document incorporated by reference therein untrue, or that
requires the making of any additions to or changes in the 

  
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Registration Statement or the Prospectus in order to make the statements therein not misleading. If at any time the Commission shall issue any stop order suspending the effectiveness of the
Registration Statement or a notification of objection to the use of the form on which the Registration Statement has been filed or if any state securities commission or other regulatory authority shall issue an order suspending the qualification or
exemption from qualification of the Transfer Restricted Securities under state securities or blue sky laws, each of the Issuer and the Guarantors shall use its commercially reasonable efforts to obtain the withdrawal or lifting of such order at the
earliest practicable time; 
 (iv) (A) (1) furnish without charge to each of the Initial Purchasers,
each selling Holder named in any Registration Statement that has requested such copies, if any, and each of the underwriter(s), if any, before filing with the Commission, copies of any Registration Statement or any Prospectus included therein or any
amendments or supplements to any such Registration Statement or Prospectus (including all documents incorporated by reference after the initial filing of such Registration Statement), which documents will be subject to the review and comment of such
requesting Holders and underwriter(s) in connection with such sale, if any, for a period of at least five days, and (2) not file any such Registration Statement or Prospectus or any amendment or supplement to any such Registration Statement or
Prospectus (including all such documents incorporated by reference) to which an Initial Purchaser of Transfer Restricted Securities covered by such Registration Statement or the underwriter(s), if any, shall reasonably object in writing within five
days after the receipt thereof (such objection to be deemed timely made upon confirmation of telecopy transmission within such period); the objection of an Initial Purchaser, or underwriter, if any, shall be deemed to be reasonable if such
Registration Statement, amendment, Prospectus or supplement, as applicable, as proposed to be filed, contains a material misstatement or omission; 
 (B) (1) furnish without charge to each of the Initial Purchasers before filing with the Commission, a copy of any Free Writing Prospectus, which will be subject to the consent of the Initial
Purchasers, and (2) not file any such Free Writing Prospectus to which the Initial Purchasers of Transfer Restricted Securities covered by such Registration Statement have not consented (such consent not to be unreasonably withheld, conditioned
or delayed); 
 (v) promptly prior to the filing of any document that is to be incorporated by reference into a
Registration Statement or Prospectus, provide copies of such document to the Initial Purchasers, each selling Holder named in any Registration Statement that has requested such documents, if any, and to the underwriter(s), if any, make the
Issuer’s and the Guarantors’ representatives available for discussion of such document and other customary due diligence matters, subject to customary confidentiality agreements, and include such information in such document prior to the
filing thereof as such selling Holders or underwriter(s), if any, reasonably may request; 
 (vi) make available,
subject to customary confidentiality agreements, at reasonable times for inspection by the Initial Purchasers, the managing underwriter(s), if any, participating in any disposition pursuant to such Registration Statement and any attorney or
accountant retained by such Initial Purchasers or any of the underwriter(s), all 

  
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financial and other records, pertinent corporate documents and properties of each of the Issuer and the Guarantors, and cause the Issuer’s and the Guarantors’ officers, directors and
employees to supply all information, in each case as shall be reasonably necessary to enable any such Holder, underwriter, attorney or accountant to exercise any applicable responsibilities in connection with such Registration Statement or any
post-effective amendment thereto subsequent to the filing thereof and prior to its effectiveness and to participate in meetings with investors to the extent reasonably requested by the managing underwriter(s), if any; 

(vii) if requested by any selling Holders or the underwriter(s), if any, promptly incorporate in any Registration
Statement or Prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such selling Holders and underwriter(s), if any, may reasonably request to have included therein, including, without limitation,
information relating to the “Plan of Distribution” of the Transfer Restricted Securities, information with respect to the principal amount of Transfer Restricted Securities being sold to such underwriter(s), the purchase price being paid
therefor and any other terms of the offering of the Transfer Restricted Securities to be sold in such offering; and make all required filings of such Prospectus supplement or post-effective amendment as soon as practicable after the Issuer is
notified of the matters to be incorporated in such Prospectus supplement or post-effective amendment; 
 (viii)
cause the Transfer Restricted Securities covered by the Registration Statement to be rated with the appropriate rating agencies, if so requested by the Holders of a majority in aggregate principal amount of Securities covered thereby or the
underwriter(s), if any; 
 (ix) furnish to each Initial Purchaser, each selling Holder and each of the
underwriter(s), if any, without charge, at least one copy of the Registration Statement, as first filed with the Commission, and of each amendment thereto, including financial statements and schedules and, if requested, all documents incorporated by
reference therein and all exhibits (including exhibits incorporated therein by reference); 
 (x) deliver to each
selling Holder and each of the underwriter(s), if any, without charge, as many copies of the Prospectus (including each preliminary prospectus) and any amendment or supplement thereto as such Persons reasonably may request; each of the Issuer and
the Guarantors hereby consents to the use of the Prospectus and any amendment or supplement thereto by each of the selling Holders and each of the underwriter(s), if any, in connection with the offering and the sale of the Transfer Restricted
Securities covered by the Prospectus or any amendment or supplement thereto; 
 (xi) in the case of a Shelf
Registration Statement and upon the reasonable request of any Holder named in such Registration Statement, enter into such agreements (including an underwriting agreement), and make such representations and warranties, and take all such other
commercially reasonable actions in connection therewith in order to expedite or facilitate the disposition of the Transfer Restricted Securities pursuant to any Registration Statement contemplated by this Agreement, all to such extent as may be
reasonably requested by any Initial Purchaser or by any Holder of Transfer Restricted 

  
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Securities or underwriter in connection with any sale or resale pursuant to such Shelf Registration Statement contemplated by this Agreement; and whether or not an underwriting agreement is
entered into and whether or not the registration is an Underwritten Registration, each of the Issuer and the Guarantors shall: 
 (A) furnish to each Initial Purchaser, each selling Holder and each underwriter, if any, in such substance and scope as they may reasonably request and as are customarily made by issuers to underwriters
in primary underwritten offerings and consistent with the Purchase Agreement, upon the date of the effectiveness of the Shelf Registration Statement: 
 (1) a certificate, dated the date of effectiveness of the Shelf Registration Statement, as the case may be, signed by (y) the President or any Vice President and (z) a principal financial or
accounting officer of each of the Issuer and the Guarantors, confirming, as of the date thereof, the matters set forth in Section 5(c) of the Purchase Agreement and such other matters as such parties may reasonably request; 

(2) if requested by a majority of selling Holders, an opinion, dated the date of effectiveness of the Shelf Registration
Statement, as the case may be, of counsel for the Issuer and the Guarantors, covering the matters set forth in the opinion letters delivered pursuant to Sections 5(d) and 5(e) and of the Purchase Agreement and such other matter as such parties may
reasonably request, and in any event including a statement to the effect that such counsel to the Issuer that provides the opinion letter covering matters set forth in the opinion letters delivered pursuant to Section 5(d) and 5(e) of the
Purchase Agreement has participated in conferences with officers and other representatives of the Issuer and the Guarantors, representatives of the independent public accountants for the Issuer and the Guarantors, representatives of the
underwriter(s), if any, and counsel to the underwriter(s), if any, in connection with the preparation of such Registration Statement and the related Prospectus and have considered the matters required to be stated therein and the statements
contained therein, although such counsel has not independently verified the accuracy, completeness or fairness of such statements; and that such counsel advises that, on the basis of the foregoing, no facts came to such counsel’s attention that
led such counsel to believe that the applicable Registration Statement, (A) at the date of the opinion letter and at the time such Registration Statement or any post-effective amendment thereto became effective and (B) at the applicable
time identified by such Holders or managing underwriters, in the case of (A) and (B) contained an untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary to make the statements
therein not misleading, or that the Prospectus contained in such Registration Statement as of its date, contained an untrue statement of a material fact or omitted to state a material fact necessary in order to make the statements therein, in the
light of the circumstances under which they were made, not misleading. Without limiting 

  
 12 

 
the foregoing, such counsel may state further that such counsel assumes no responsibility for, and has not independently verified, the accuracy, completeness or fairness of the factual matters
set forth in any such Registration Statement and the related Prospectus (it being understood that such counsel need not express any belief with respect to the financial statements, financial schedules, financial notes, pro forma financial
information (if any) or other financial, accounting or statistical data derived therefrom or information or reports about internal control over financial reports, included in any such Registration Statement or the related Prospectus); and

 (3) a customary comfort letter, dated the date of effectiveness of the Shelf Registration Statement, from the
Issuer’s independent accountants, in the customary form and covering matters of the type customarily requested to be covered in comfort letters by underwriters in connection with primary underwritten offerings, and covering or affirming the
matters set forth in the comfort letters delivered pursuant to Section 5(f) of the Purchase Agreement; 

(B) set forth in full or incorporate by reference in the underwriting agreement, if any, the indemnification provisions
and procedures of Section 8 hereof with respect to all parties to be indemnified pursuant to said Section; and 
 (C) deliver such other documents and certificates as may be reasonably requested by such parties to evidence compliance with Section 6(c)(xi)(A) hereof and with any customary conditions contained in
the underwriting agreement or other agreement entered into by the Issuer or any of the Guarantors pursuant to this Section 6(c)(xi), if any. 
 If at any time the representations and warranties of the Issuer and the Guarantors contemplated in Section 6(c)(xi)(A)(1) hereof cease to be true and correct, the Issuer or the Guarantors shall so
advise the Initial Purchasers and the underwriter(s), if any, and each selling Holder promptly and, if requested by such Persons, shall confirm such advice in writing; 

(xii) prior to any public offering of Transfer Restricted Securities, cooperate with the selling Holders, the
underwriter(s), if any, and their respective counsel in connection with the registration and qualification of the Transfer Restricted Securities under the state securities or blue sky laws of such jurisdictions as the selling Holders or
underwriter(s), if any, may request and do any and all other acts or things necessary or advisable to enable the disposition in such jurisdictions of the Transfer Restricted Securities covered by the Shelf Registration Statement; provided,
however, that none of the Issuer or the Guarantors shall be required to register or qualify as a foreign corporation where it is not then so qualified or to take any action that would subject it to the service of process in suits or to
taxation, other than as to matters and transactions relating to the Registration Statement, in any jurisdiction where it is not then so subject; 

  
 13 

 (xiii) issue, upon the request of any Holder of Initial Securities covered
by the Registration Statement to the extent legally permitted, Exchange Securities having an aggregate principal amount equal to the aggregate principal amount of Initial Securities surrendered to the Issuer by such Holder in exchange therefor or
being sold by such Holder; such Exchange Securities to be registered in the name of such Holder or in the name of the purchaser(s) of such Securities, as the case may be; in return, the Initial Securities held by such Holder shall be surrendered to
the Issuer for cancellation; 
 (xiv) in the case of a Shelf Registration Statement and subject to the terms of
the Indenture, cooperate with the selling Holders and the underwriter(s), if any, to facilitate the timely preparation and delivery of certificates representing Transfer Restricted Securities to be sold and not bearing any restrictive legends; and
enable such Transfer Restricted Securities to be in such denominations and registered in such names as the Holders or the underwriter(s), if any, may request at least two Business Days prior to any sale of Transfer Restricted Securities made by such
Holders or underwriter(s); 
 (xv) use its commercially reasonable efforts to cause the Transfer Restricted
Securities covered by the Registration Statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the seller or sellers thereof or the underwriter(s), if any, to consummate the
disposition of such Transfer Restricted Securities, subject to the proviso contained in Section 6(c)(xii) hereof; 
 (xvi) if any fact or event contemplated by Section 6(c)(iii)(D) hereof shall exist or have occurred, prepare a supplement or post-effective amendment to the Registration Statement or related
Prospectus or any document incorporated therein by reference or file any other required document so that, as thereafter delivered to the purchasers of Transfer Restricted Securities, the Prospectus will not contain an untrue statement of a material
fact or omit to state any material fact necessary in order to make the statements therein not misleading; 

(xvii) provide a CUSIP number for all Securities not later than the effective date of the Registration Statement covering
such Securities and provide the Trustee under the applicable Indenture with printed certificates for such Securities which are in a form eligible for deposit with the Depository Trust Company and take all other action necessary to ensure that all
such Securities are eligible for deposit with the Depository Trust Company; 
 (xviii) cooperate and assist in
any filings required to be made with the FINRA and in the performance of any due diligence investigation by any underwriter (including any “qualified independent underwriter”) that is required to be retained in accordance with the rules
and regulations of the FINRA; 
 (xix) otherwise use its commercially reasonable efforts to comply with all
applicable rules and regulations of the Commission, and make generally available to its security holders, as soon as practicable, a consolidated earning statement meeting the requirements of Rule 158 (which need not be audited) for the twelve-month
period 

  
 14 

 
(A) commencing at the end of any fiscal quarter in which Transfer Restricted Securities are sold to underwriters in a firm commitment or best efforts Underwritten Offering or (B) if not sold
to underwriters in such an offering, beginning with the first month of the Issuer’s first fiscal quarter commencing after the effective date of the Registration Statement; and 

(xx) cause the Indenture to be qualified under the Trust Indenture Act not later than the effective date of the first
Registration Statement required by this Agreement, and, in connection therewith, cooperate with the Trustee and the Holders of Securities to effect such changes to the Indenture as may be required for such Indenture to be so qualified in accordance
with the terms of the Trust Indenture Act; and to execute, and to use its commercially reasonable efforts to cause the Trustee to execute, all documents that may be required to effect such changes and all other forms and documents required to be
filed with the Commission to enable such Indenture to be so qualified in a timely manner. 
 Each Holder agrees by acquisition
of a Transfer Restricted Security that, upon receipt of any notice from the Issuer of the existence of any fact of the kind described in Section 6(c)(iii)(D) hereof, such Holder will forthwith discontinue disposition of Transfer Restricted
Securities pursuant to the applicable Registration Statement until such Holder’s receipt of the copies of the supplemented or amended Prospectus contemplated by Section 6(c)(xvi) hereof, or until it is advised in writing (the
“Advice”) by the Issuer that the use of the Prospectus may be resumed, and has received copies of any additional or supplemental filings that are incorporated by reference in the Prospectus. If so directed by the Issuer, each Holder
will deliver to the Issuer (at the Issuer’s expense) all copies, other than permanent file copies then in such Holder’s possession, of the Prospectus covering such Transfer Restricted Securities that was current at the time of receipt of
such notice. In the event the Issuer shall give any such notice, the time period regarding the effectiveness of such Registration Statement set forth in Section 3 or 4 hereof, as applicable, shall be extended by the number of days (a
“Delay Period”) during the period from and including the date of the giving of such notice pursuant to Section 6(c)(iii)(D) hereof to and including the date when each selling Holder covered by such Registration Statement shall
have received the copies of the supplemented or amended Prospectus contemplated by Section 6(c)(xvi) hereof or shall have received the Advice; provided that there shall not be more than 45 days of Delay Periods during any 12-month
period; provided further, however, that (except as provided in Section 5(iv) hereof) no such extension shall be taken into account in determining whether Additional Interest is due pursuant to Section 5 hereof or the
amount of such Additional Interest, it being agreed that the Issuer’s option to suspend use of a Registration Statement pursuant to this paragraph shall be treated as a Registration Default for purposes of Section 5 hereof. 

SECTION 7. Registration Expenses. 
 (a) All expenses incident to the Issuer’s and the Guarantors’ performance of or compliance with this Agreement will be borne by the Issuer and the Guarantors, jointly and severally, regardless
of whether a Registration Statement becomes effective, including, without limitation: (i) all registration and filing fees and expenses (including filings made by any Initial Purchaser or Holder with the FINRA (and, if applicable, the fees and
expenses of any “qualified independent underwriter”, and one counsel to such person, that may be required by the rules and regulations of the FINRA)); (ii) all fees and expenses of compliance with federal securities and state
securities 

  
 15 

 
or blue sky laws (including the reasonable fees and disbursements of one counsel to the Holder of Transfer Restricted Securities); (iii) all expenses of printing (including printing
certificates for the Exchange Securities to be issued in the Exchange Offer and printing of Prospectuses), messenger and delivery services and telephone; (iv) all fees and disbursements of counsel for the Issuer and the Guarantors and, subject
to Section 7(b) hereof, one counsel to the Holders of Transfer Restricted Securities; (v) all application and filing fees in connection with any listing of the Exchange Securities on a securities exchange or automated quotation system
pursuant to the requirements thereof; and (vi) all fees and disbursements of independent certified public accountants of the Issuer and the Guarantors (including the expenses of any special audit and comfort letters required by or incident to
such performance). 
 All underwriting discounts and commissions and transfer taxes, if any, relating to the sale or disposition
of a Holder’s Initial Securities pursuant to a Shelf Registration Statement shall be the responsibility of each Holder. 

Each of the Issuer and the Guarantors will, in any event, bear its internal expenses (including, without limitation, all salaries and
expenses of its officers and employees performing legal or accounting duties), the expenses of any annual audit and the fees and expenses of any Person, including special experts, retained by the Issuer or the Guarantors. 

(b) In connection with any Registration Statement required by this Agreement (including, without limitation, the Exchange Offer
Registration Statement and the Shelf Registration Statement), the Issuer and the Guarantors, jointly and severally, will reimburse the Initial Purchasers and the Holders of Transfer Restricted Securities being tendered in the Exchange Offer and/or
resold pursuant to the “Plan of Distribution” contained in the Exchange Offer Registration Statement or registered pursuant to the Shelf Registration Statement, as applicable, for the reasonable fees and disbursements of not more than one
counsel, who shall be Cahill Gordon & Reindel LLP or such other counsel as may be chosen by the Holders of a majority in principal amount of the Transfer Restricted Securities for whose benefit such Registration Statement is
being prepared. 
 SECTION 8. Indemnification. 
 (a) The Issuer and the Guarantors, jointly and severally, agree to indemnify and hold harmless (i) each Holder and (ii) each Person, if any, who controls (within the meaning of Section 15
of the Securities Act or Section 20 of the Exchange Act) any Holder (any of the Persons referred to in this clause (ii) being hereinafter referred to as a “controlling person”) and (iii) the respective officers, directors,
partners, employees, representatives and agents of any Holder or any controlling person (any Person referred to in clause (i), (ii) or (iii) may hereinafter be referred to as an “Indemnified Holder”), to the fullest extent
lawful, from and against any and all losses, claims, damages, liabilities, judgments, actions and expenses (including, without limitation, and as incurred, reimbursement of all reasonable costs of investigating, preparing, pursuing, settling,
compromising, paying or defending any claim or action, or any investigation or proceeding by any governmental agency or body, commenced or threatened, including the reasonable fees and expenses of counsel to any Indemnified Holder), joint or
several, directly or indirectly caused by, related to, based upon, arising out of or in connection with any untrue statement or alleged untrue statement of a material fact contained in any Registration Statement, Prospectus

  
 16 

 
(or any amendment or supplement thereto) or Free Writing Prospectus, or any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the
statements therein (in the case of any Prospectus or Free Writing Prospectus, in the light of the circumstances under which they were made) not misleading, except insofar as such losses, claims, damages, liabilities or expenses are caused by an
untrue statement or omission or alleged untrue statement or omission that is made in reliance upon and in conformity with information relating to an Indemnified Holder furnished in writing to the Issuer by such Indemnified Holder expressly for use
therein. This indemnity agreement shall be in addition to any liability that the Issuer or any of the Guarantors may otherwise have. 
 In case any action or proceeding (including any governmental or regulatory investigation or proceeding) shall be brought or asserted against any of the Indemnified Holders with respect to which indemnity
may be sought against the Issuer or the Guarantors, such Indemnified Holder (or the Indemnified Holder controlled by such controlling person) shall promptly notify the Issuer and the Guarantors in writing; provided, however, that the
failure to give such notice shall not relieve any of the Issuer or the Guarantors of its obligations pursuant to this Agreement. Such Indemnified Holder shall have the right to employ its own counsel in any such action and the fees and expenses of
such counsel shall be paid, as incurred, by the Issuer and the Guarantors (regardless of whether it is ultimately determined that an Indemnified Holder is not entitled to indemnification hereunder). The Issuer and the Guarantors shall not, in
connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be liable for the reasonable fees and
expenses of more than one separate firm of attorneys (in addition to any local counsel) at any time for such Indemnified Holders, which firm shall be designated by the Holders. The Issuer and the Guarantors shall be liable for any settlement of any
such action or proceeding effected with the Issuer’s and the Guarantors’ prior written consent, which consent shall not be withheld unreasonably, and each of the Issuer and the Guarantors agrees to indemnify and hold harmless any
Indemnified Holder from and against any loss, claim, damage, liability or expense by reason of any settlement of any action effected with the written consent of the Issuer and the Guarantors. The Issuer and the Guarantors shall not, without the
prior written consent of each Indemnified Holder, settle or compromise or consent to the entry of judgment in or otherwise seek to terminate any pending or threatened action, claim, litigation or proceeding in respect of which indemnification or
contribution may be sought hereunder (whether or not any Indemnified Holder is a party thereto), unless such settlement, compromise, consent or termination includes an unconditional release of each Indemnified Holder from all liability arising out
of such action, claim, litigation or proceeding. 
 (b) Each Holder of Transfer Restricted Securities agrees, severally and not
jointly, to indemnify and hold harmless the Issuer, the Guarantors and their respective directors, officers of the Issuer and the Guarantors who sign a Registration Statement, and any Person controlling (within the meaning of Section 15 of the
Securities Act or Section 20 of the Exchange Act) the Issuer or any of the Guarantors, and the respective officers, directors, partners, employees, representatives and agents of each such Person, to the same extent as the foregoing indemnity
from the Issuer and the Guarantors to each of the Indemnified Holders, but only with respect to claims and actions based on information relating to such Holder furnished in writing by such Holder expressly for use in any Registration Statement. In
case any action or proceeding shall be brought against the Issuer, the Guarantors or their respective directors or officers or any such 

  
 17 

 
controlling person in respect of which indemnity may be sought against a Holder of Transfer Restricted Securities, such Holder shall have the rights and duties given the Issuer and the
Guarantors, and the Issuer, the Guarantors, their respective directors and officers and such controlling person shall have the rights and duties given to each Holder by the preceding paragraph. 

(c) If the indemnification provided for in this Section 8 is unavailable to an indemnified party under Section 8(a) or
(b) hereof (other than by reason of exceptions provided in those Sections) in respect of any losses, claims, damages, liabilities, judgments, actions or expenses referred to therein, then each applicable indemnifying party, in lieu of
indemnifying such indemnified party, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages, liabilities or expenses in such proportion as is appropriate to reflect the relative benefits
received by the Issuer and the Guarantors, on the one hand, and the Holders, on the other hand, from the Initial Placement (which in the case of the Issuer and the Guarantors shall be deemed to be equal to the total gross proceeds to the Issuer and
the Guarantors from the Initial Placement), the amount of Additional Interest which did not become payable as a result of the filing of the Registration Statement resulting in such losses, claims, damages, liabilities, judgments actions or expenses,
and such Registration Statement, or if such allocation is not permitted by applicable law, the relative fault of the Issuer and the Guarantors, on the one hand, and the Holders, on the other hand, in connection with the statements or omissions which
resulted in such losses, claims, damages, liabilities or expenses, as well as any other relevant equitable considerations. The relative fault of the Issuer and the Guarantors, on the one hand, and of the Indemnified Holder on the other shall be
determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Issuer or any of the Guarantors, on
the one hand, or the Indemnified Holders, on the other hand, and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. 

The Issuer, the Guarantors and each Holder of Transfer Restricted Securities agree that it would not be just and equitable if
contribution pursuant to this Section 8(c) were determined by pro rata allocation (even if the Holders were treated as one entity for such purpose) or by any other method of allocation which does not take account of the equitable considerations
referred to in the immediately preceding paragraph. The amount paid or payable by an indemnified party as a result of the losses, claims, damages, liabilities or expenses referred to in the immediately preceding paragraph shall be deemed to include,
subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 8, none
of the Holders (and its related Indemnified Holders) shall be required to contribute, in the aggregate, any amount in excess of the amount by which the total discount, if any, received by such Holder with respect to the Initial Securities exceeds
the amount of any damages which such Holder has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No Person guilty of fraudulent misrepresentation (within the meaning of
Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. The Holders obligations to contribute pursuant to this Section 8(c) are several in proportion
to the respective principal amount of Initial Securities held by each of the Holders hereunder and not joint. 

  
 18 

 SECTION 9. Rule 144A. Each of the Issuer and the Guarantors hereby agrees with each
Holder, for so long as any Transfer Restricted Securities remain outstanding, to make available to any Holder or beneficial owner of Transfer Restricted Securities in connection with any sale thereof and any prospective purchaser of such Transfer
Restricted Securities from such Holder or beneficial owner, the information required by Rule 144A(d)(4) under the Securities Act in order to permit resales of such Transfer Restricted Securities pursuant to Rule 144A under the Securities Act.

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

SECTION 11. Selection of Underwriters. The Holders of Transfer Restricted Securities covered by the Shelf Registration Statement
who desire to do so may sell such Transfer Restricted Securities in an Underwritten Offering. In any such Underwritten Offering, the investment banker(s) and managing underwriter(s) that will administer such offering will be selected by the Holders
of a majority in aggregate principal amount of the Transfer Restricted Securities included in such offering; provided, however, that such investment banker(s) and managing underwriter(s) must be reasonably satisfactory to the Issuer.

 SECTION 12. Miscellaneous. 
 (a) Remedies. Each of the Issuer and the Guarantors hereby agrees that monetary damages would not be adequate compensation for any loss incurred by reason of a breach by it of the provisions of
this Agreement and hereby agree to waive the defense in any action for specific performance that a remedy at law would be adequate. 
 (b) No Inconsistent Agreements. Each of the Issuer and the Guarantors will not enter into any agreement with respect to its securities that conflicts with the provisions hereof. The rights granted
to the Holders hereunder do not in any way conflict with the rights granted to the holders of the Issuer’s or any of the Guarantors’ securities under any agreement in effect on the date hereof. Subject to the foregoing, the Issuer and the
Guarantors may enter into agreements granting registration rights with respect to Additional Notes (as defined in the Indenture). 
 (c) Adjustments Affecting the Securities. The Issuer will not effect any change, or permit any change to occur, in each case, with respect to the terms of the Securities that would materially and
adversely affect the ability of the Holders to Consummate any Exchange Offer. 
 (d) Amendments and Waivers. The
provisions of this Agreement may not be amended, modified or supplemented, and waivers or consents to or departures from the provisions hereof may not be given unless the Issuer has (i) in the case of Section 5 hereof and this
Section 12(d)(i), obtained the written consent of Holders of all outstanding Transfer Restricted Securities and (ii) in the case of all other provisions hereof, obtained the written consent of

  
 19 

 
Holders of a majority of the outstanding principal amount of Transfer Restricted Securities (excluding any Transfer Restricted Securities held by the Issuer or their Affiliates); provided,
however, that, with respect to any matter that directly or indirectly affects the rights of any Initial Purchaser hereunder, the Issuer shall obtain the written consent of each such Initial Purchaser with respect to which such amendment,
qualification, supplement, waiver, consent or departure is to be effective. 
 (e) Notices. All notices and other
communications provided for or permitted hereunder shall be made in writing by hand-delivery, first-class mail (registered or certified, return receipt requested), telex, telecopier, or air courier guaranteeing overnight delivery: 

(i) if to a Holder, at the address set forth on the records of the Registrar under the Indenture, with a copy to the
Registrar under the Indenture; and 
 (ii) if to the Issuer or the Guarantors: 

BakerCorp International, Inc. 
 3020 Old Ranch Parkway, Suite 220 
 Seal Beach, CA 90740

 Telecopier No.: (562) 430-4865 

Attention: General Counsel 
 With copies to: 
 Fried, Frank, Harris, Shriver & Jacobson
LLP 
 One New York Plaza 

New York, New York 10004 
 Telecopier No.: (212) 859-4000 
 Attention: Stuart Gelfond

 Permira Advisers L.L.C. 

320 Park Avenue, 33rd Floor 
 New York, NY 10022 
 Telecopier No.: (212) 386-7481

 Attention: Henry Minello 
 All such notices and communications shall be deemed to have been duly given: at the time delivered by hand, if personally delivered; five Business Days after being deposited in the mail, postage prepaid,
if mailed; when answered back, if telexed; when receipt acknowledged, if telecopied; and on the next Business Day, if timely delivered to an air courier guaranteeing overnight delivery. 

Copies of all such notices, demands or other communications shall be concurrently delivered by the Person giving the same to the Trustee
at the address specified in the Indenture. 
 (f) Successors and Assigns. This Agreement shall inure to the benefit of
and be binding upon the successors and assigns of each of the parties, including, without limitation, and without the need for an express assignment, subsequent Holders of Transfer Restricted Securities;

  
 20 

 
provided, however, that this Agreement shall not inure to the benefit of or be binding upon a successor or assign of a Holder unless and to the extent such successor or assign
acquired Transfer Restricted Securities from such Holder. 
 (g) Counterparts. This Agreement may be executed in any
number of counterparts and by the parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. 

(h) Headings. The headings in this Agreement are for convenience of reference only and shall not limit or otherwise affect the
meaning hereof. 
 (i) Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF
THE STATE OF NEW YORK. 
 (j) Severability. In the event that any one or more of the provisions contained herein, or the
application thereof in any circumstance, is held invalid, illegal or unenforceable, the validity, legality and enforceability of any such provision in every other respect and of the remaining provisions contained herein shall not be affected or
impaired thereby. 
 (k) Entire Agreement. This Agreement is intended by the parties as a final expression of their
agreement and intended to be a complete and exclusive statement of the agreement and understanding of the parties hereto in respect of the subject matter contained herein. There are no restrictions, promises, warranties or undertakings, other than
those set forth or referred to herein with respect to the registration rights granted by the Issuer and the Guarantors with respect to the Transfer Restricted Securities. This Agreement supersedes all prior agreements and understandings between the
parties with respect to such subject matter. 

  
 21 

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

							
		 	Very truly yours,
				
		 		 		 	    BAKERCORP INTERNATIONAL, INC.
				
		 		 	By:	 	 

		 		 		 	Name:
		 		 		 	Title:
				
		 		 		 	    FTT HOLDINGS, INC.
				
		 		 	By:	 	 

		 		 		 	Name:
		 		 		 	Title:
				
		 		 		 	    BAKERCORP
				
		 		 	By:	 	 

		 		 		 	Name:
		 		 		 	Title:

 Signature Page to Registration Rights Agreement 

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

			
	Morgan Stanley & Co. Incorporated
		
	By:	 	 

		 	Name: Nicholas Roms
		 	Title: Authorized Signatory

 Signature Page to Registration Rights Agreement 

			
	Deutsche Bank Securities Inc.
		
	By:	 	 

		 	Name: Manfred Affenzeller
		 	Title: Director
		
	By:	 	 

		 	Name: Scott Sartorius
		 	Title: MD

 Signature Page to Registration Rights AgreementStockholders' Agreement

 Exhibit 4.5 
 EXECUTION VERSION 
  

 

STOCKHOLDERS’ AGREEMENT 
  

 
 by and
among 
 BAKERCORP INTERNATIONAL HOLDINGS, INC. 
 PERMIRA IV CONTINUING L.P.1, 
 PERMIRA IV CONTINUING L.P.2, 

PERMIRA INVESTMENTS LIMITED, 
 P4 CO-INVESTMENT L.P 
 and  

the MINORITY STOCKHOLDERS party hereto 
 Dated as of June 1, 2011 
  

 

 TABLE OF CONTENTS 

 

							
	 	 	 	 	Page	 
	1.	 	Definitions	 	 	2	  
			
	2.	 	Interpretation	 	 	2	  
			
	3.	 	Restrictions on Transfer of Company Stock	 	 	3	  
			
	4.	 	Drag-Along Rights	 	 	3	  
			
	5.	 	Tag-Along Rights	 	 	6	  
			
	6.	 	Company Call Rights on Termination of Management Stockholder’s Employment	 	 	8	  
			
	7.	 	Treasury Regulation 1.83-2 Election	 	 	9	  
			
	8.	 	Preemptive Rights	 	 	9	  
			
	9.	 	Board of Directors	 	 	11	  
			
	10.	 	Legend	 	 	12	  
			
	11.	 	Conflicting Agreement	 	 	13	  
			
	12.	 	Fees	 	 	13	  
			
	13.	 	Further Assurances	 	 	13	  
			
	14.	 	Amendment and Waiver	 	 	13	  
			
	15.	 	Successors and Assigns	 	 	14	  
			
	16.	 	Notices	 	 	14	  
			
	17.	 	Third Parties	 	 	15	  
			
	18.	 	Governing Law	 	 	16	  
			
	19.	 	Submission to Jurisdiction	 	 	16	  
			
	20.	 	Waiver of Jury Trial	 	 	16	  
			
	21.	 	Entire Agreement	 	 	16	  
			
	22.	 	Severability	 	 	16	  
			
	23.	 	Counterparts	 	 	17	  

					
	24.	 	Remedies	  	17
			
	25.	 	Termination	  	17
			
	26.	 	Information	  	17

 Schedule I List of Stockholders 
 Exhibit A Non-Competition Agreement 

  
 2 

 BAKERCORP INTERNATIONAL HOLDINGS, INC. 

STOCKHOLDERS’ AGREEMENT 
 This STOCKHOLDERS’ AGREEMENT (this “Agreement”) is dated as of June 1, 2011, by and among BakerCorp International Holdings, Inc., a Delaware corporation (the
“Company”), Permira IV Continuing L.P.1, Permira IV Continuing L.P.2, Permira Investments Limited and P4 Co-Investment L.P. (collectively, the “Permira Stockholders”), the parties identified on the signature pages
hereto as “Management Stockholders” (the “Management Stockholders”) and the parties identified on the signature pages hereto as “Additional Stockholders”(the “Additional Stockholders”,
collectively with the Management Stockholders, the “Minority Stockholders” and, collectively with the Permira Stockholders, the “Stockholders”). 

A. WHEREAS, the Company is party to an Agreement and Plan of Merger, dated as of April 12, 2011 (the “Merger
Agreement”), by and among the Company, B-Corp Merger Sub, Inc., a Delaware corporation and wholly owned subsidiary of the Company (“Merger Sub”), LY BTI Holdings Corp., a Delaware corporation (as such name is amended after
the date hereof, “Target”) and Lightyear Capital LLC, solely in its capacity as stockholder representative, pursuant to which Merger Sub will merge with and into Target with Target surviving as a wholly owned subsidiary of the
Company (the “Merger”); 
 B. WHEREAS, immediately prior to the consummation of the transactions contemplated
by the Merger Agreement, the Permira Stockholders owned all of the outstanding shares of Common Stock of the Company; 
 C.
WHEREAS, pursuant to the Merger Agreement, the Company and certain of the Management Stockholders have entered into a Contribution Agreement, dated as of April 12, 2011 (the “Initial Contribution Agreement”), pursuant to which such
Management Stockholders will contribute to the Company shares of common stock and options of Target in exchange for Common Stock and options to purchase Common Stock (the “Options”), respectively, as set forth on Schedule I
hereto; 
 D. WHEREAS, simultaneously with the consummation of the transactions contemplated by the Merger Agreement, certain
other Management Stockholders have entered into a contribution agreement (together with the Initial Contribution Agreement, the “Contribution Agreements”), pursuant to which such Management Stockholders will contribute to the
Company shares of common stock and options of Target in exchange for Common Stock and Options, respectively, as set forth on Schedule I hereto; 
 E. WHEREAS, simultaneously with the consummation of the transactions contemplated by the Merger Agreement, the Permira Stockholders, the Additional Stockholders and the Company have entered into a series
of subscription agreements, dated as of the date hereof (the “Subscription Agreements”) pursuant to which such Stockholders will subscribe for the number of shares of Common Stock set forth in Schedule I hereto; 

 F. WHEREAS, immediately after the execution and delivery of this Agreement and the
consummation of the transactions contemplated by the Merger Agreement, the Contribution Agreements and the Subscription Agreements, the Permira Stockholders will hold a majority of the Common Stock and the Minority Stockholders will hold the
remainder of the Common Stock; 
 G. WHEREAS, as of the Effective Time, each of the Management Stockholders shall have entered
into, and/or may in the future enter into, a stock option agreement (or agreements) with the Company, pursuant to which, and on the terms and subject to the conditions set forth therein, the Company has agreed or may agree to grant Options to the
Management Stockholders, which upon Exercise of such Options, the Option Stock will be subject to this Agreement; and 
 H.
WHEREAS, the Company and the Stockholders desire to enter into this Agreement for the purposes, among others, of assuring continuity in the management and ownership of the Company and limiting the manner and terms by which the Minority
Stockholders’ Common Stock may be transferred. 
 NOW, THEREFORE, in consideration of the mutual covenants contained herein
and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties to this Agreement, intending to be legally bound, hereby agree as follows, effective as of the Effective Time: 

1. Definitions. Capitalized and other terms used and not otherwise defined herein shall have their respective meanings as defined
in Annex A hereto. 
 2. Interpretation. 
 (a) Unless the context clearly requires otherwise, the words “hereof,” “herein,” and “hereunder” and words of similar import, when used in this Agreement, shall refer to this
Agreement as a whole and not to any particular provision of this Agreement. 
 (b) The terms defined in the singular shall have
a comparable meaning when used in the plural, and vice versa. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. 

(c) References herein to a specific Article, Section, Schedule, Exhibit or Annex shall refer, respectively, to Articles, Sections,
Schedules, Exhibits or Annexes of this Agreement, unless the express context otherwise requires. 
 (d) Whenever the word
“include,” “includes” or “including” is used in this Agreement, it shall be deemed to be followed by the words “without limitation,” unless clearly indicated otherwise. 

(e) The headings and titles in this Agreement are included for convenience of reference only and shall not limit or otherwise affect the
meaning or interpretation of this Agreement. 

  
 2 

 3. Restrictions on Transfer of Company Stock. 

(a) Prohibition Against Transfer of Management Company Stock. No Minority Stockholder may, directly or indirectly, sell, transfer,
assign, donate, contribute, pledge, hypothecate, encumber or otherwise dispose of (any of the foregoing, a “Transfer”) any Company Stock, or any interest therein, except in accordance with Section 3(b) or with the prior written
consent of the Company. 
 (b) Permitted Transfers. Subject to Section 4(f), the provisions of Section 3(a) shall not
apply to the following Transfers: 
 (i) any Transfer of Company Stock by a Minority Stockholder to members of
such Minority Stockholder’s Family Group; 
 (ii) any Transfer of Company Stock by a Minority Stockholder to
the Company or any Permira Stockholder or any Affiliate of any Permira Stockholder; 
 (iii) any Transfer of
Company Stock by a Minority Stockholder to the Company in a transaction approved by the Board of Directors of the Company; 
 (iv) any Transfer of Company Stock by a Minority Stockholder to any Person in connection with a merger, consolidation, acquisition, sale, exchange, recapitalization, reorganization, or similar transaction
approved by the Board of the Company; and 
 (v) any Transfer of Company Stock pursuant to Sections 4, 5 or 6;

 (the transferee of any such Transfer being a “Permitted Transferee”); provided that the Minority Stockholder making
the Transfer must first give the Company at least ten (10) days prior written notice of such Transfer, which notice must include the name and address of the Permitted Transferee and the number of shares of Company Stock to be Transferred;
provided, further, that the Permitted Transferee must, prior to any such Transfer, have agreed in writing to be bound by the provisions of this Agreement affecting the Company Stock and have executed and delivered a joinder agreement
or such other documents that may be reasonably requested by the Company. Any Transfer or attempted Transfer of any Company Stock in violation of any provision of this Agreement shall be null and void ab initio, and the Company shall
not record such Transfer on its books or treat any purported, transferee of such Company Stock as the owner of such shares for any purpose. 
 4. Drag-Along Rights. 
 (a) If any one or more of the Permira Stockholders
(the “Permira Sellers”) proposes to Transfer (including pursuant to a merger), to any Person or Group that is not an Affiliate of any of the Permira Stockholders (a “Third Party Purchaser”), more than 50% of the
shares of Common Stock of the Company, then the Permira Sellers may require each other Stockholder (the “Dragged Stockholder”) to Transfer that percentage of its Common Stock equal to the percentage of the Common Stock held by the
Permira Sellers which are being Transferred to the Third Party Purchaser for the same per share consideration and otherwise on equivalent 

  
 3 

 
terms and conditions as those received by the Permira Sellers (the “Drag-Along Sale”); provided, however, that no Stockholder shall be required to Transfer any
shares of Common Stock unless each other Stockholder is also required to make such a Transfer in accordance with this Section 4. 
 (b) The Permira Sellers shall send written notice (the “Drag-Along Notice”) of the exercise of its rights pursuant to this Section 4 to each Dragged Stockholder setting forth the
consideration per share of Common Stock to be paid pursuant to the Drag-Along Sale, the identity of the Third Party Purchaser and any other material terms and conditions of the transaction. Each Dragged Stockholder, upon receipt of the Drag-Along
Notice, shall be obligated to (i) vote its shares of Common Stock, if applicable, in favor of such Drag-Along Sale at any meeting of holders of Common Stock called to vote on or approve such Drag-Along Sale (or any written consent solicited for such
purpose), (ii) participate in the Drag-Along Sale and Transfer all of its shares of Common Stock required to be Transferred pursuant to Section 4(a) to such Third Party Purchasers and (iii) otherwise take all necessary action, including, without
limitation, to the extent applicable, expressly waiving any dissenter’s rights or rights of appraisal or similar rights, entering into an agreement reflecting the terms of the Drag-Along Sale, surrendering certificates, cooperating in obtaining
any applicable Governmental Authorization and otherwise as reasonably required to assist the Permira Sellers in the consummation of such Drag-Along Sale. Any such Drag-Along Notice may be rescinded by the Permira Sellers by delivering written notice
thereof to each Dragged Stockholder. 
 (c) Solely for purposes of Section 4(b)(i) and in order to secure the performance of
each Stockholder’s obligations under Section 4(b)(i), each Stockholder hereby irrevocably appoints each other Stockholder that qualifies as a Drag-Along Proxy Holder (as defined below) the attorney-in-fact and proxy of such Stockholder (with
full power of substitution) to vote or provide a written consent with respect to its Common Stock as described in this paragraph if, and only in the event that, such Stockholder fails to vote or provide a written consent with respect to its Common
Stock in accordance with the terms of Section 4(b)(i) (each such Stockholder, a “Breaching Drag-Along Stockholder”) within three (3) days of a request for such vote or written consent. Upon such failure, the Permira Sellers shall
have and are hereby irrevocably granted a proxy to vote or provide a written consent with respect to each such Breaching Drag-along Stockholder’s Common Stock for the purposes of taking the actions required by Section 4(b)(i) (such Permira
Sellers, a “Drag-Along Proxy Holder”). Each Stockholder intends this proxy to be, and it shall be, irrevocable and coupled with an interest, and each Stockholder will take such further action and execute such other instruments as
may be necessary to effectuate the intent of this proxy and hereby revoke any proxy previously granted by it with respect to the matters set forth in Section 4(b)(i) with respect to the Common Stock owned by such Stockholder. Notwithstanding the
foregoing, the conditional proxy granted by this Section 4(c) shall be deemed to be revoked upon the termination of this Section 4 in accordance with this Agreement. 
 (d) The obligations of each Dragged Stockholder pursuant to Section 4(a) are subject to the satisfaction of the following conditions: 

(i) A Dragged Stockholder shall not be required to provide any representations or warranties in connection with the
Drag-Along Sale other than representations and warranties concerning such Dragged Stockholder’s valid ownership of its shares of Common Stock free of all Encumbrances, and such Dragged Stockholder’s authority, power and right to enter into
and consummate the Drag-Along Sale. 

  
 4 

 (ii) In the event that the Permira Sellers are required to provide
representations, warranties or indemnities in connection with the Drag-Along Sale (other than representations, warranties or indemnities by any concerning the Permira Sellers valid ownership of their shares of Common Stock free of all Encumbrances,
and the Permira Sellers authority, power and right to enter into and consummate the Drag-Along Sale without violating any other agreement) and the Permira Sellers are required to indemnify the party or parties transacting with the Permira Sellers in
the Drag-Along Sale, then each Dragged Stockholder shall indemnify the Permira Sellers (or shall provide the same indemnity as the Permira Sellers to the party or parties transacting with the Permira Sellers in the Drag-Along Sale) to the extent of
the lesser of (A) its pro rata share of such indemnification payments (based upon the total consideration received by such Dragged Stockholder divided by the total consideration received by all sellers in such Drag-Along Sale) and (B) the total
proceeds actually received by such Dragged Stockholder as consideration for its shares of Common Stock in such Drag-Along Sale. In any such event, such liability shall be several and not joint with any other Person. 

(e) Each Dragged Stockholder shall use commercially reasonable efforts to secure any Governmental Authorization required to be obtained
by such Dragged Stockholder and shall provide any information which may be needed from such Dragged Stockholder in connection therewith, to comply as soon as reasonably practicable with all applicable Laws and to take all such other actions and to
execute such additional documents as are necessary or appropriate in order to consummate the Drag-Along Sale. 
 (f)
Notwithstanding anything in this Section 4 to the contrary, no Transfer by any Dragged Stockholder shall be permitted from the time that a Drag-Along Notice is received until the consummation or termination of such Drag-Along Sale (other than any
Transfer by the Dragged Stockholders in such Drag-Along Sale). The provisions of this Section 4 shall also apply to any shares of Common Stock acquired by or issued to any Stockholder after the date of this Agreement, including any Option Stock.

 (g) All costs and expenses of the Drag-Along Sale incurred by any Dragged Stockholder shall be borne by such Dragged
Stockholder. Notwithstanding the foregoing, the Dragged Stockholders shall not be required to bear any costs and expenses of such Drag-Along incurred by the Permira Sellers (it being understood that such expenses may be paid for by the Company).

 (h) For purposes of clarification, when used in this Section 4, the phrases “same per share consideration” and
“equivalent terms and conditions” shall not include transaction, banking, monitoring or service fees or any other fees of a similar nature paid to the Permira Stockholders, whether in connection with such Drag-Along Sale or otherwise, or
any employment, consulting, change of control, non-compete or any other fees of a similar nature paid to the Dragged Stockholder, whether in connection with such Drag-Along Sale or otherwise. 

  
 5 

 5. Tag-Along Rights. 

(a) Subject to Section 4 hereof, if any one or more of the Permira Sellers proposes to Transfer (including pursuant to a merger) shares
of Common Stock to a Third Party Purchaser, then each Minority Stockholder shall have the right (the “Tag-Along Right”) to include a number of shares of Common Stock and vested Option Stock owned by it in the Tag-Along Sale, for the
same per share consideration (which, in the case of vested Option Stock, shall be adjusted as provided in the last sentence of this Section 5(a)) and upon equivalent terms and conditions to be paid and given to the Permira Sellers for its shares of
Common Stock in the agreement contemplating such Tag-Along Sale, equal to the product (rounded down to the nearest whole number) obtained by multiplying (A) a fraction, the numerator of which is the number of issued and outstanding shares of Common
Stock and vested Option Stock owned by such Minority Stockholder and the denominator of which is the total number of issued and outstanding shares of Common Stock and vested Option Stock owned by the Permira Sellers and all Minority Stockholders
exercising their Tag-Along Rights under this Section 5, collectively, by (B) the number of shares of Common Stock and vested Option Stock proposed to be sold in the contemplated Tag-Along Sale without regard to the terms of this Section 5 (the
product of (A) and (B), with respect to each Minority Stockholder exercising its Tag-Along Rights under this Section 5, the “Tag-Along Shares”). Notwithstanding the foregoing, the purchase price payable per share of vested Option
Stock pursuant to this Section 5 shall be the same per share consideration paid to the Permira Sellers for its shares of Common Stock in the agreement contemplating such Tag-Along Sale, less the per share exercise price applicable to such vested
Option Stock. 
 (b) The Permira Sellers shall give notice (the “Tag-Along Notice”) to each Minority
Stockholder of any Tag-Along Sale giving rise to the Tag-Along Rights at least ten (10) days prior to the proposed consummation of such Tag-Along Sale, setting forth the number of shares of Common Stock proposed to be sold in the Tag-Along Sale, the
maximum number of Tag-Along Shares that may be sold by such Minority Stockholder as determined in accordance with Section 5(a) assuming each Minority Stockholder has exercised its rights under this Section 5, the name of the proposed Third Party
Purchaser, the consideration and other material terms offered by such Third Party Purchaser and a representation that the proposed Third Party Purchaser has been informed of the Minority Stockholders’ rights under this Section 5. The rights
provided pursuant to this Section 5 must be exercised by each Minority Stockholder within ten (10) days following receipt of the Tag-Along Notice (the “Tag-Along Exercise Period”), by giving written notice to the Permira Sellers
(with a copy to the Company) indicating such Minority Stockholder’s desire to exercise, in whole or in part, its Tag-Along Rights and specifying the number of Tag-Along Shares to be sold by such Minority Stockholder in the Tag-Along Sale.

 (c) Conditions to Tag-Along Sale. The rights and obligations of each Minority Stockholder pursuant to Section 5 are
subject to the satisfaction of the following conditions: 

  
 6 

 (i) A Minority Stockholder shall not be required to provide any
representations or warranties in connection with a Tag-Along Sale other than representations and warranties concerning such Minority Stockholder’s valid ownership of its shares of Common Stock free of all Encumbrances, and such Minority
Stockholder’s authority, power and right to enter into and consummate the sale pursuant to Section 5(a). 

(ii) In the event that the Permira Sellers are required to provide representations, warranties or indemnities in
connection with the Tag-Along Sale (other than representations, warranties or indemnities concerning the Permira Seller’s valid ownership of their shares of Common Stock free of all Encumbrances, and the Permira Seller’s authority, power
and right to enter into and consummate the sale without violating any other agreement) and the Permira Sellers are required to indemnify the party or parties transacting with the Permira Sellers in such Tag-Along Sale, then each Minority Stockholder
shall indemnify the Permira Sellers (or shall provide the same indemnity as the Permira Sellers to the party or parties transacting with the Permira Sellers in the Tag-Along Sale) to the extent of the lesser of (A) its pro rata share of such
indemnification payments (based upon the total consideration received by Minority Stockholder divided by the total consideration received by all sellers in such Tag-Along Sale) and (B) the total proceeds actually received by such Minority
Stockholder as consideration for its shares of Common Stock and Option Stock in such Tag-Along Sale. In any such event, such liability shall be several and not joint with any other Person. 

(d) The requirements of this Section 5 shall not apply to (i) proposed Transfers of Common Stock by the Permira Stockholders in a
transaction or series of related transactions which in the aggregate represents less than or equal to 10% of the shares of Common Stock held by the Permira Stockholders as of such transaction or series of related transactions, (ii) Transfers to any
Affiliate of any Permira Seller or any director or officer of the Company, (iii) Transfers to a Permitted Transferee or (iv) any Transfer of Common Stock required to be made by a Dragged Stockholder pursuant to a Drag-Along Sale. The requirements of
this Section 5 are in addition to, and not in limitation of, any other restrictions on Transfers of Common Stock contained in this Agreement. 
 (e) If a Minority Stockholder exercises its Tag-Along Rights under this Section 5: (i) the closing of the purchase of the shares of Common Stock and Option Stock with respect to which such rights have
been exercised shall take place concurrently with the closing of the sale of the Permira Sellers’ shares of Common Stock, and (ii) such Minority Stockholder shall use commercially reasonable efforts to secure any Governmental Authorization
required to be obtained by such Minority Stockholder and shall provide any information which may be needed from such Minority Stockholder in connection therewith, to comply as soon as reasonably practicable with all applicable Laws and to take all
such other actions and to execute such additional documents as are necessary or appropriate in order to consummate the Tag-Along Sale. 
 (f) The provisions of this Section 5 shall also apply to any shares of Common Stock acquired by or issued to any Stockholder after the date of this Agreement, including any Option Stock. 

  
 7 

 (g) For purposes of clarification, when used in this Section 5, the phrases “same
per share consideration” and “equivalent terms and conditions” shall not include transaction, banking, monitoring or service fees or any other fees of a similar nature paid to the Permira Sellers whether in connection with such
Tag-Along Sale or otherwise or any employment, consulting, change of control, non-compete or any other fees of a similar nature paid to the Minority Stockholder, whether in connection with such Tag-Along Sale or otherwise. 

6. Company Call Rights on Termination of Management Stockholder’s Employment. 

(a) If, a Management Stockholder’s employment with the Company (and/or, if applicable, its Subsidiaries) is terminated (I) by
the Company for Cause or (II) by such Management Stockholder other than for Good Reason, death or Disability within two (2) years following the Effective Time (any of the foregoing a “Section 6(a) Call Event”), then the Company
shall have the right to purchase from the applicable Management Stockholder, and the applicable Management Stockholder agrees to sell and transfer to the Company, all of the Company Stock then held by such Management Stockholder at a purchase price
equal to the lesser of (I) Cost and (II) the Fair Market Value of such Company Stock on the date of termination of such Management Stockholder’s employment or the date of an impermissible Transfer constituting a Section 6(a) Call
Event, as applicable; and 
 (b) If, a Management Stockholder’s employment with the Company (and/or, if applicable, its
Subsidiaries) is terminated (A) by the Company other than for Cause, (B) due to the Management Stockholder’s death or Disability, (C) by such Management Stockholder for Good Reason or (D) by voluntary resignation of such
Management Stockholder other than for Good Reason on or after the second anniversary of the Effective Time (each a “Section 6(b) Call Event” and together with a Section 6(a) Call Event, a “Call Event”), then
the Company shall have the right to purchase from such Management Stockholder, and such Management Stockholder agrees to sell and transfer to the Company, all of the Company Stock then held by such Management Stockholder at a purchase price equal to
the Fair Market Value of such Company Stock on the date of termination of such Management Stockholder’s employment. 
 (c) The Company shall have a period of two hundred and ten (210) days following the later of (A) the date of any Call Event, (B) with respect to any Option Stock, the last date of the
applicable Management Stockholder’s exercise of his or her Options and (C) the date of discovery of an impermissible Transfer constituting a Section 6(a) Call Event, in which to give notice in writing to the applicable Management
Stockholder of the Company’s election to exercise its rights pursuant to Section 6(a) or 6(b), as applicable (a “Call Notice”). The completion of the purchases pursuant to the foregoing shall take place at the principal
office of the Company by the later of (x) the two hundred and tenth (210th) day after the date of such Call Event and (y) ten (10) days after the determination of Fair Market Value as provided in Annex A hereto; provided, that the deadline for
payment by the Company pursuant to this Section 6 may be extended as required from time to time by the Company’s debt financing arrangements (as determined in the sole discretion of the Board) or if the Management Stockholder has failed to
comply with Section 6(d). The price, if any, payable as described in this Section 6 shall be paid by delivery to the applicable Management Stockholder of a certified bank check or checks in the appropriate amount payable to the order of
the applicable Management Stockholder against 

  
 8 

 
delivery of certificates or other instruments representing the Company Stock so purchased, appropriately endorsed or executed by the applicable Management Stockholder or its authorized
representative. The Company may choose to have a designee purchase any Company Stock elected by it to be purchased hereunder so long as the Company shall bear any reasonable costs and expenses of the applicable Management Stockholder in connection
with the sale to such designee that such Management Stockholder would not have otherwise incurred in connection with a sale to the Company. All references to the Company in this Section 6 shall refer to such designee as the context requires.

 (d) Any payment pursuant to this Section 6 to a Management Stockholder whose employment agreement with the Company does
not contain a non-competition covenant shall be conditioned on his or her signing the non-competition agreement attached hereto as Exhibit A. 
 7. Treasury Regulation 1.83-2 Election. Except as the Company may otherwise agree in writing, each Management Stockholder hereby covenants and agrees that he will make an election provided pursuant
to Treasury Regulation 1.83-2 with respect to the Common Stock acquired by such Management Stockholder (including upon Exercise of an Option) during the two (2) years following the Effective Time and such Management Stockholder further
covenants and agrees that he will furnish the Company with copies of the forms of election such Management Stockholder files within thirty (30) days after the date he or she acquires any such Common Stock, and with evidence that such election
has been filed in a timely manner. 
 8. Preemptive Rights. 

(a) Each Preemptive Stockholder shall, subject to the terms of this Section 8, have the right (the “Preemptive
Right”) to purchase, at its respective sole discretion, from the Company additional shares of Common Stock or other Equity Securities in the amounts and at the times and prices provided for in this Section 8, which right shall be
exercisable from time to time upon each issuance by the Company of shares of Common Stock or other Equity Securities. Except as otherwise provided in this Section 8, upon each issuance by the Company of shares of Common Stock or other Equity
Securities, each Preemptive Stockholder shall have the Preemptive Right to purchase from the Company a proportion of the shares of Common Stock or other Equity Securities being offered, which proportion shall be calculated as follows: (i) with
respect to issuances of shares of Common Stock, a fraction, the numerator of which is the total number of shares of Common Stock owned by such Preemptive Stockholder on a fully diluted basis and the denominator of which is the total number of shares
of Common Stock on a fully diluted basis and (ii) with respect to issuances of Equity Securities (other than Common Stock), that number of such securities which would allow such Preemptive Stockholder to maintain the same percentage ownership
on a fully diluted basis of all shares of Common Stock after giving effect to such issuance and assuming that all such securities (and all other outstanding Equity Securities previously issued and not earlier converted, exchanged or exercised) have
been converted, exchanged or exercised, as the case may be, in full in accordance with their terms as of the date of their issuance (assuming for these purposes that such securities are convertible, exchangeable or exercisable as of such date).

  
 9 

 (b) In the event a Preemptive Stockholder elects to exercise its Preemptive Rights under
this Section 8, the purchase price per share of Common Stock or other Equity Security shall be equal to the sale price per share of Common Stock or of such Equity Security sold. 

(c) A Preemptive Stockholder’s rights and the Company’s obligations under this Section 8 shall be subject to the
requirement that the Company give each Preemptive Stockholder five (5) Business Days’ prior written notice (the “Preemptive Offer Notice”) of its intention to issue shares of Common Stock or other Equity Securities. The
Preemptive Offer Notice shall set forth the proposed purchaser or purchasers and the terms of such transaction, and shall contain sufficient detail of such terms to allow the Preemptive Stockholders to determine whether and when to exercise any of
their rights under this Section 8. If a Preemptive Stockholder desires to exercise its Preemptive Rights under this Section 8, such Preemptive Stockholder shall give written notice to the Company of its intent to exercise its right within
ten (10) days after receipt by such Preemptive Stockholder of the Preemptive Offer Notice. The Company shall issue the required number of shares of Common Stock or other Equity Securities against delivery of the purchase price therefor under
this Section 8 on the same date as the other purchasers purchase shares of Common Stock or such securities. A Preemptive Stockholder shall have the right to exercise its Preemptive Rights in whole or in part as to each transaction giving rise
to the right. In the event that the transaction set forth in the Preemptive Offer Notice shall not be consummated within one hundred twenty (120) days after deliver of the Preemptive Offer Notice, the Company shall be required to give a new
notice of such transaction, and any Preemptive Stockholder’s original notice of its intent to exercise any right under this Section 8 or failure to give notice shall be of no further force or effect. 

(d) The provisions of Section 8 hereof shall not apply to the issuance of shares of Common Stock or other Equity Securities
(i) upon the exercise of any Company Option, warrants or other convertible securities issued or granted, or any other Common Stock, issued under any employee stock purchase plan or similar benefit program or agreement of the Company;
(ii) in connection with a transaction of the type described in or subject to Rule 145 under the Securities Act, (iii) in connection with an IPO, (iv) in consideration for the acquisition of another Person’s business by the
Company or any of its Subsidiaries (whether by acquisition of stock or assets, or by merger, consolidation or other similar transaction), the acquisition of any stock or assets of any Person or the formation of a joint venture, (v) to the
current or future officers, employees or directors of the Company or any of its Subsidiaries (including transfers pursuant to this Agreement) (or to any entity controlled by any such officers, employees or directors), (vi) as a dividend or
distribution or any subdivision or combination of securities or (vii) to the Company’s or any Subsidiaries’ lenders in connection with the incurrence, renewal or maintenance of indebtedness (including funded indebtedness). 

(e) Each Preemptive Stockholder, if such Preemptive Stockholder is exercising Preemptive Rights pursuant to this Section 8, shall,
as a condition to such exercise, also be required to purchase the same proportionate amount of any other securities that the purchasers of such shares of Common Stock or Options purchased in connection with the issuance of the securities subject to
the Preemptive Rights. 

  
 10 

 (f) Notwithstanding the other provisions of this Section 8, if the Board reasonably
determines that there is a substantial need of the Company to issue securities of the Company that would otherwise be required to be offered to the Preemptive Stockholders under this Section 8 prior to such issuance, the Company may issue such
securities without first complying with this Section 8; provided, that within thirty (30) days after such issuance, the Company offers each Preemptive Stockholder the opportunity to purchase such number of securities that such
Preemptive Stockholder would have been entitled to purchase pursuant to this Section 8 by sending written notice to the Preemptive Stockholders, which notice shall contain the information required under Section 8(c). In the event of an
offer made by the Company pursuant to this Section 8(f), the timing and procedures for the exercise and consummation of such offer shall be the same as those set forth in this Section 8, with appropriate modifications to reflect the
post-issuance delivery of the notice as contemplated in this Section 8(f). 
 9. Board of Directors. 

(a) The number of directors (the “Directors”) constituting the Board of Directors of the Company (the
“Board”), as fixed from time to time by the Board in accordance with this Agreement and the bylaws of the Company (the “Bylaws”), shall initially be six (6). Notwithstanding any provision in the Bylaws, the number
of directors constituting the Board shall not be changed without the consent of the Permira Stockholders. At each annual meeting of the Stockholders, and at each special meeting of the Stockholders called for the purpose of electing directors of the
Company, and at any time at which the Stockholders shall have the right to, or shall, vote for, or consent in writing to, the election of directors of the Company, then, and in each such event, the Stockholders shall vote all of the shares of Common
Stock owned by them or any of their respective Affiliates for, or consent in writing with respect to such shares in favor of, the election of the following Persons to the Board: 

(i) one Director who shall be the chief executive officer of the Company (the “CEO Director”), who shall
initially be Bryan Livingston; 
 (ii) three Directors who shall be designated and approved by Permira IV
Continuing L.P.1 (the “Permira Representative Directors”), who shall initially be Richard Carey, John Coyle and Henry Minello; 
 (iii) two Directors who shall be designated and approved by Permira IV Continuing L.P.1 (the “Permira Appointed Directors”), who shall be non-Affiliates of the Permira Stockholders, who
shall initially be Philip Green and Gerard Holthaus, 
 provided, however, that the seats to be occupied by the Permira
Representative Directors may initially be vacant until Permira IV Continuing L.P.1 determines to fill such vacancies pursuant to this Agreement. 
 (b) The Stockholders shall vote their shares of Common Stock (i) to remove any director whose removal is required by the party or parties with the power to designate such director and (ii) to
fill any vacancy created by the removal, resignation or death of a director, in each case for the election of a new director designated and approved, in accordance with the 

  
 11 

 
provisions of this Section 9; provided, that (x) each of the Permira Representative Directors may only be removed by Permira IV Continuing L.P.1 and (y) the CEO Director may
only be removed with the consent of Permira IV Continuing L.P.1 and a majority of the votes held by all Directors, excluding the CEO Director. Vacancies on the Board shall be filled only by the party or parties with the power to designate the
applicable director pursuant to this Section 9. In the event such party or parties fail to designate a director to fill any such vacancy pursuant to this Section 9, such Board seat shall remain vacant until the party or parties entitled to
designate such director fills such vacancy pursuant to this Section 9. 
 (c) The special and exclusive voting rights
contained in Section 9(a) may be exercised either at a special meeting, at any annual or special meeting of the Stockholders of the Company or by written consent in lieu of a meeting. The Directors to be elected pursuant to Section 9(a)
shall serve for terms extending from the date of their election and qualification until their successors shall have been elected and qualified in accordance with Section 9(a). 

(d) At all meetings of the Board, a quorum shall consist of not less than a number of Directors holding a majority of the votes held by
all Directors. All actions of the Board shall require the affirmative vote of at least a majority of the votes held by all Directors (whether or not present at the meeting). Each Director shall be entitled to one vote on each matter that comes
before the Board; provided, that each Permira Representative Director shall be entitled to four (4) votes on each matter that comes before the Board. From and after the date hereof, the Permira Stockholders shall be entitled, upon
provision of written notice to the Company, to increase or decrease the number of votes held by any Permira Representative Director. Any action that may be taken at a meeting of the Board or any committee thereof may also be taken by written consent
of Directors holding a majority of the votes held by all Directors or members of the committee holding a majority of the votes held by all members of the committee in lieu of a meeting. The parties hereto agree that the Certificate of Incorporation
and Bylaws of the Company, as applicable, shall at all times authorize and permit the provisions contemplated by this Section 9(d). 
 (e) The Company shall pay the reasonable out-of-pocket expenses incurred by each Permira Appointed Director in connection with performing his duties as a Director, including, without limitation, the
reasonable out-of-pocket expenses (including travel and lodging) incurred by such Person for attending meetings of the Board or any committee thereof. 
 10. Legend. Each certificate evidencing Company Stock and each certificate issued in exchange for or upon the Transfer of any Company Stock (if such shares remain Company Stock as defined herein
after such Transfer) shall be stamped or otherwise imprinted with a legend in substantially the following form: 

“THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED
(THE “SECURITIES ACT”). OR ANY STATE “BLUE SKY” LAWS, AND MAY NOT BE SOLD OR TRANSFERRED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR SUCH STATE LAWS OR AN EXEMPTION FROM REGISTRATION
THEREUNDER. THE SECURITIES REPRESENTED BY 

  
 12 

 
THIS CERTIFICATE ARE ALSO SUBJECT TO ADDITIONAL RESTRICTIONS ON TRANSFER, AND CERTAIN OTHER AGREEMENTS SET FORTH IN THE STOCKHOLDERS’ AGREEMENT, DATED AS OF JUNE 1, 2011, BY THE COMPANY AND
THE PARTIES THERETO, A COPY OF WHICH MAY BE OBTAINED BY THE HOLDER HEREOF AT THE COMPANY’S PRINCIPAL PLACE OF BUSINESS WITHOUT CHARGE.” 
 The Company shall imprint such legend on certificates evidencing outstanding Company Stock. 
 11. Conflicting Agreement. Except for any Ancillary Documents or as otherwise contemplated by this Agreement, each Stockholder represents and warrants that it has not granted and is not a party to
any proxy, voting trust or other agreement which is inconsistent with or conflicts with the provisions of this Agreement, and no Stockholder shall grant any proxy or become party to any voting trust or other agreement which is inconsistent with or
conflicts with the provisions of this Agreement. 
 12. Fees. 

(a) Simultaneously herewith, the Company and Permira Advisors L.L.C. are entering into a management agreement (the “Management
Agreement”) with respect to advisory services and related fees to be paid by the Company or its Subsidiaries to Permira Advisors L.L.C. following the date of this Agreement. 

(b) The Company shall bear and be responsible for the reasonable out-of-pocket legal fees and expenses incurred prior to the date of this
Agreement by the Management Stockholders in connection with their initial investment in the Company and the negotiation and preparation of this Agreement and the other Ancillary Documents to which they are a party, up to $100,000 in the aggregate
for all Management Stockholders. 
 (c) The Company shall bear and be responsible for the reasonable out-of-pocket fees and
expenses (including legal fees and expenses) incurred by the Permira Stockholders in connection with the negotiation and preparation of this Agreement and the other Ancillary Agreements to which they are a party. 

13. Further Assurances. Each of the parties shall, and shall cause their respective Affiliates to, execute such instruments and
take such action as may be reasonably required or desirable to carry out the provisions hereof and the transactions contemplated hereby. 
 14. Amendment and Waiver. Except as otherwise provided herein, no modification, amendment or waiver of any provision of this Agreement shall be effective against the Company or any Stockholder
unless such modification, amendment or waiver is approved in writing (i) by the Company, (ii) the Minority Stockholders representing a majority of the Common Stock held by all Minority Stockholders and (iii) the Permira Stockholders;
provided, however, that no such modification, amendment or waiver shall be effective against any (i) Management Stockholder unless (A) such modification, amendment or waiver is approved by the 

  
 13 

 
Management Stockholders representing a majority of the Common Stock and Option Stock held by all Management Stockholders and (B) does not treat such Management Stockholder disproportionately
and adversely in any respect from all other Management Stockholders holding the same class or series of Equity Securities without such Management Stockholder’s consent and (ii) Additional Stockholder unless such modification, amendment or
waiver does not treat such Additional Stockholder disproportionately and adversely in any respect from all other Additional Stockholders holding the same class or series of Equity Securities without such Additional Stockholder’s consent.
Notwithstanding the foregoing, (a) the Company may from time to time add additional holders of Equity Securities of the Company as parties to this Agreement with the consent of the Permira Stockholders and without the consent or additional
signatures of the other Stockholders (and amend and/or restate the Agreement, including any Schedules, Exhibits or Annexes hereto, solely to reflect such additional holders), and upon the Company’s receipt of such additional holder’s
executed signature pages hereto or joinder agreement, such additional holders shall be deemed to be a party hereto (as a Minority Stockholder or otherwise) and such additional signature pages shall be a part of this Agreement and (b) in the
event that the ownership of any Stockholder changes for any reason, the Company may substitute, with the consent of the Permira Stockholders and without the consent or additional signatures of the other Stockholders, an updated Schedule I hereto
reflecting such changes. The failure of any party to enforce any of the provisions of this Agreement shall in no way be construed as a waiver of such provisions and shall not affect the right of such party thereafter to enforce each and every
provision of this Agreement in accordance with its terms. 
 15. Successors and Assigns. This Agreement shall be binding
upon and shall inure to the benefit of the parties hereto, and their respective successors and permitted assigns. Subject to compliance with the provisions of this Agreement, (i) each Permira Stockholder shall, at any time and without the
consent of any other party hereto, have the right to assign all or part of its rights and obligations under this Agreement to one or more of its Affiliates to whom such Permira Stockholder transferred Common Stock in compliance with this Agreement,
so long as such Affiliate remains an Affiliate of such Permira Stockholder and (ii) each Stockholder shall, at any time and without the consent of any other party hereto, have the right to assign all or part of its rights and obligations under
this Agreement to any Person to whom such Stockholder Transferred Company Stock in compliance with this Agreement. 
 16.
Notices. All notices, requests and other communications to any party hereunder shall be in writing (including telex, telecopier or similar writing) and shall be given to the Company and the Permira Stockholders at the addresses set forth
below and to any Minority Stockholder at the address indicated below its name on Schedule I hereto, or such other address or telecopier number as such party may hereinafter specify for the purpose to the party giving such notice. Each such notice,
request or other communication shall be effective (a) if given by telecopy, when such telecopy is transmitted to the telecopy number specified in this Section and the appropriate answerback is received or, (b) if given by overnight courier
or express mail service, when delivery is confirmed or, (c) if given by any other means, when delivered at the address specified in this Section 16. In each case, notice shall be sent to the parties at the following addresses (or at such
other address for a party as shall be specified by like notice): 

  
 14 

 if to the Company: 
 BakerCorp International Holdings, Inc. 
 c/o Permira Advisers, LLC 

320 Park Avenue 

New York NY 10022 

Attention: Richard Carey 
 Fax: 212-386-7481 
 Telephone: 212-386-7477 

Email: richard.carey@permira.com 
 with a copy to: 
 Fried, Frank, Harris, Shriver & Jacobson LLP

 One New York 
 New York, New York 10004 
 Attention: Robert Schwenkel, Esq. and Christopher Ewan,
Esq. 
 Fax: 212-859-4000 
 Telephone: 212-859-8167; 212-859-8875 
 Email: robert.schwenkel@friedfrank.com

 christopher.ewan@friedfrank.com 
 if to the Permira Stockholders: 
 c/o Permira Advisers, LLC 

320 Park Avenue 

New York NY 10022 

Attention: Richard Carey 
 Fax: 212-386-7481 
 Telephone: 212-386-7477 

Email: richard.carey@permira.com 
 with a copy to: 
 Fried, Frank, Harris, Shriver & Jacobson LLP

 One New York 
 New York, New York 10004 
 Attention: Robert Schwenkel, Esq. and Christopher Ewan,
Esq. 
 Fax: 212-859-4000 
 Telephone: 212-859-8167; 212-859-8875 
 Email: robert.schwenkel@friedfrank.com

 christopher.ewan@friedfrank.com 
 17. Third Parties. This Agreement does not create any rights, claims or benefits inuring to any person that is not a party hereto nor does it create or establish any third party beneficiary hereto.

  
 15 

 18. Governing Law. This Agreement, including the validity hereof and the rights and
obligations of the parties hereunder, all amendments and supplements hereto and the transactions contemplated hereby, and all actions or proceedings arising out of or relating to this Agreement, of any nature whatsoever, shall be construed in
accordance with and governed by the domestic substantive laws of the State of Delaware without giving effect to any choice of law or conflicts of law provision or rule that might otherwise cause the application of the domestic substantive laws of
any other jurisdiction. 
 19. Submission to Jurisdiction. Each of the parties hereto (i) consents to submit itself
to the exclusive personal jurisdiction and venue of the Delaware Court of Chancery and any state appellate court therefrom within the State of Delaware (unless the Delaware Court of Chancery shall decline to accept jurisdiction over a particular
matter, in which case, in any Delaware state or federal court within the State of Delaware) with respect to any suit (whether at law, in equity, in contract, in tort or otherwise) relating to or arising out of this Agreement or any of the
transactions contemplated hereby, (ii) agrees that it will not, directly or indirectly, attempt to defeat or deny such personal jurisdiction or venue by motion or otherwise, (iii) agrees that it will not, and it will cause its Affiliates
not to, bring or support any such suit in any court other than such courts of the State of Delaware, as described above, (iv) irrevocably agrees that any such suit (whether at law, in equity, in contract, in tort or otherwise) shall be heard
and determined exclusively in such courts of the State of Delaware, as described above, (v) agrees to service of process in any such action in any manner prescribed by the Laws of the State of Delaware and (vi) agrees that service of
process upon such Party in any action or proceeding shall be effective if notice is given in accordance with Section 16 herein. 
 20. WAIVER OF JURY TRIAL. TO THE EXTENT NOT PROHIBITED BY APPLICABLE LAW THAT CANNOT BE WAIVED, EACH STOCKHOLDER WAIVES, AND COVENANTS THAT SUCH PARTY WILL NOT ASSERT (WHETHER AS PLAINTIFF,
DEFENDANT OR OTHERWISE), ANY RIGHT TO TRIAL BY JURY IN ANY FORUM IN RESPECT OF ANY ISSUE, CLAIM OR PROCEEDING ARISING OUT OF THIS AGREEMENT OR THE SUBJECT MATTER HEREOF OR IN ANY WAY CONNECTED WITH THE DEALINGS OF ANY STOCKHOLDER OR THE COMPANY IN
CONNECTION WITH ANY OF THE ABOVE, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING AND WHETHER IN CONTRACT, TORT OR OTHERWISE. The Company or any Stockholder may file an original counterpart or a copy of this Section 21 with any court as
written evidence of the consent of the Stockholders to the waiver of their rights to trial by jury. 
 21. Entire
Agreement. This Agreement and the Ancillary Documents and the other writings referred to herein or delivered pursuant hereto or which make specific reference to this Section 20 form a part hereof and contain the entire agreement and
understanding among the parties hereto with respect to the subject matter hereof and supersede and preempt any prior understandings, agreements or representations by or among the parties, written or oral, which may have related to the subject matter
hereof in any way. 
 22. Severability. Any term or provision of this Agreement which is invalid or unenforceable in any
jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such invalidity or unenforceability without rendering invalid or unenforceable the remaining terms 

  
 16 

 
and provisions of this Agreement or affecting the validity or enforceability of any of the terms or provisions of this Agreement in any other jurisdictions, it being intended that all rights and
obligations of the parties hereunder shall be enforceable to the fullest extent permitted by law. 
 23. Counterparts.
This Agreement may be signed in counterparts, each of which shall constitute an original and which together shall constitute one and the same agreement. 
 24. Remedies. Each party hereto shall be entitled to enforce its rights under this Agreement specifically, to recover damages by reason of any breach of any provision of this Agreement and to
exercise all other rights existing in its favor. The parties hereto agree and acknowledge that money damages may not be an adequate remedy for any breach of the provisions of this Agreement and that each party may in its sole discretion apply to any
court of law or equity of competent jurisdiction for specific performance and/or injunctive relief (without posting a bond or other security) in order to enforce or prevent any violation of the provisions of this Agreement. 

25. Termination. This Agreement shall terminate on the earliest to occur of (a) immediately prior to the consummation of an
IPO, (b) consummation of a Drag-Along Sale and (c) the mutual written consent of (i) the Company, (ii) the Permira Stockholders, (iii) holders of a majority of the Common Stock and Option Stock held by the Minority
Stockholders; and (iv) holders of a majority of the Common Stock and Option Stock held by the Management Stockholders. The rights and obligations of a Stockholder under this Agreement shall terminate at such time as such Stockholder no longer
owns any shares of Company Stock or Option Stock. 
 26. Information. Upon request by any Minority Stockholder and its
Permitted Transferees, the Company agrees to make available, as soon as reasonably practicable, the quarterly income statement, cash flow statement and balance sheet of the Company and its Subsidiaries on a consolidated basis for the year-to-date to
such Minority Stockholder and its Permitted Transferees so long as (i) such Minority Stockholder or Permitted Transferee owns Common Stock or Option Stock and (ii) the Company is not then required to file reports with the SEC under the
Securities Exchange Act of 1934, as amended. 

  
 17 

 Annex A–Defined Terms 

“Additional Stockholders” shall have the meaning set forth in the preamble. 

“Affiliate” as applied to any Person, means any other Person directly or indirectly controlling, controlled by, or under
common control with, that Person. For the purposes of this definition “control” (including, with correlative meanings, the terms “controlling”, “controlled by” and “under common control
with”), as applied to any Person, means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of that Person, whether through the ownership of voting securities (the ownership
of more than 50% of the voting securities of an entity shall for purposes of this definition be deemed to be “control”), by contract or otherwise. 
 “Agreement” shall have the meaning set forth in the preamble. 

“Ancillary Documents” means, collectively, the Contributions Agreement, the Subscription Agreements, the Registration
Rights Agreement, the Management Agreement and the Employment Documents. 
 “Board” shall have the meaning set
forth in Section 9(a). 
 “Breaching Drag-Along Stockholder” shall have the meaning set forth in
Section 4(c). 
 “Bylaws” shall have the meaning set forth in Section 9(a). 

“Call Event” shall have the meaning set forth in Section 6(b). 

“Call Notice” shall have the meaning set forth in Section 6(c). 

“Cause” means, with respect to any Management Stockholder who is a party to an employment agreement with any member of
the Company Group, “Cause” as such term may be defined in such employment agreement, or, if there is no such employment agreement, “Cause” shall mean (any of the following, as reasonably determined in good faith by the Board):
(i) commission by the Management Stockholder of a felony (or a crime involving moral turpitude); (ii) theft, conversion, embezzlement or misappropriation by the Management Stockholder of funds or other assets of the Company Group or any
other act of fraud or material dishonesty with respect to the Company Group (including acceptance of any bribes or kickbacks); (iii) intentional, grossly negligent or unlawful misconduct by the Management Stockholder that causes material harm
to the Company Group or exposes the Company Group to a substantial risk of material harm; (iv) the Management Stockholder’s violation of a Law regarding employment discrimination or sexual harassment; (v) the Management
Stockholder’s repeated failure to follow the reasonable directives of a supervisor (or the Board (or person(s) exercising a managerial function similar to the Board) which failure has not been cured by the Management Stockholder within thirty
(30) days after written notice to the Management Stockholder of such failure; (vi) the unauthorized dissemination by the Management Stockholder of Confidential Information which causes material harm to the Company Group or exposes the
Company Group 

 
to material harm; (vii) a material breach of any non-competition, non-solicitation, confidentiality or similar agreement with the Company Group; or (viii) a material breach of this
Agreement which breach has not been cured by the Management Stockholder within thirty (30) days after written notice to the Management Stockholder of such breach (which 30-day cure period shall only be required if such breach is capable of
being cured). In the event that the Board believes that Cause may exist, it shall provide the Management Stockholder with the opportunity to promptly (and in any event, not later than the date and time specified by the Board in writing for
responding to its request for information, which date shall be reasonable given the circumstances that are being evaluated with regard to whether Cause may exist) provide the Board with information relevant to the Board’s ultimate determination
as to whether Cause exists. 
 “CEO Director” shall have the meaning set forth in Section 8(a)(i) hereof.

 “Certificate of Incorporation” means the certificate of incorporation of the Company, as amended or amended
and restated from time to time, as filed with the Secretary of State of the State of Delaware. 
 “Commission”
shall mean the Securities and Exchange Commission or any other federal agency at such time administering the Securities Act. 

“Common Stock” means (i) the Company’s common stock, par value $0.01 per share, and (ii) any securities
issued or issuable with respect to the capital stock referred to in clause (i) above by way of stock dividends or stock splits or in connection with a combination of shares, recapitalization, merger, consolidation, or other reorganization.

 “Company” shall have the meaning set forth in the preamble. 

“Company Group” shall mean the Company and any of its Subsidiaries or Affiliates. 

“Company Stock” means, from time to time, (i) any Common Stock held by a Stockholder and (ii) any other Equity
Securities of the Company held by a Stockholder. 
 “Confidential Information” means proprietary and
confidential information regarding the Company or its Subsidiaries that is not generally available to the public, including (to the extent that it is not so generally available): (1) information regarding the Company or its Subsidiaries’
business, operations, financial condition, customers, vendors, sales representatives and other employees; (2) projections, budgets and business plans regarding the Company or its Subsidiaries; (3) information regarding the Company or its
Subsidiaries’ planned or pending acquisitions, divestitures or other business combinations; (4) the Company or its Subsidiaries’ trade secrets and proprietary information; and (5) the Company or its Subsidiaries’ technical
information, discoveries, inventions, improvements, techniques, processes, business methods, equipment, algorithms, software programs, software source documents and formulae. For purposes of the preceding sentence, information is not treated as
being generally available to the public if it is made public by the Management Stockholders in violation of this Agreement. 

“Contribution Agreements” shall have the meaning set forth in the recitals. 

  
 2 

 “Cost” means (i) for any Common Stock acquired by the Management
Stockholder at the Effective Time or pursuant to the exercise of Options granted at the Effective Time, the applicable per share purchase price (or Option exercise price, as applicable) paid by the Management Stockholder for such Common Stock or the
amount paid by the Management Stockholder for such Common Stock pursuant to the Contribution Agreements, as applicable and (ii) for any Common Stock acquired by the Management Stockholder after the Effective Time or pursuant to the exercise of
Options granted after the Effective Time, the applicable per share purchase price (or Option exercise price, as applicable) paid by the Management Stockholder for such Common Stock. 

“Director” shall have the meaning set forth in Section 9(a). 

“Disability” means “Disability” as such term may be defined in any employment agreement between the Management
Stockholder and any member of the Company Group or, if there is no such employment agreement, “Disability” shall mean that (1) the Management Stockholder is suffering from an illness, injury, impairment or other disability that has
caused (or the Board reasonably determines will cause) the Management Stockholder to be unable to perform its duties with any member of the Company Group for ninety (90) consecutive days or for one hundred and twenty (120) cumulative days
during any one hundred and eighty (180) day period; (2) the Management Stockholder, the Management Stockholder’s spouse or a minor child of the Management Stockholder has been diagnosed with a disease or illness that a medical doctor
reasonably acceptable to the Management Stockholder and the Company has certified is terminal; or (3) the Management Stockholder is receiving long term disability benefits under any policy, plan or program (such inability is hereinafter
referred to as “Disability” or being “Disabled”). 
 “Drag-Along Notice” shall have the
meaning set forth in Section 4(b). 
 “Drag-Along Proxy Holder” shall have the meaning set forth in
Section 4(c). 
 “Drag-Along Sale” shall have the meaning set forth in Section 4(a). 

“Dragged Stockholder” shall have the meaning set forth in Section 4(a). 

“Effective Time” means the effective time of the Merger, as set forth in the Merger Agreement. 

“Employment Documents” means any employment agreement entered into by a Management Stockholder and any member of the
Company Group, the BakerCorp International Holdings, Inc. 2011 Equity Incentive Plan, the B-Corp. Holdings, Inc. 2005 Stock Incentive Plan and the related Non-Qualified Stock Option Agreement(s). 

“Encumbrance” means any lien, mortgage, lease, easement, servitude, levy, right of way, charge, pledge, security
interest, covenant, condition, restriction or other encumbrance of any kind, or any conditional sale contract, title retention contract or other contract or agreement creating any of the foregoing. 

  
 3 

 “Equity Securities” means any (i) capital stock of any class or
series, (ii) options, warrants or other securities convertible into or exercisable or exchangeable for such capital stock, (iii) options, warrants or other securities convertible into or exercisable or exchangeable for such securities
described in clause (ii), or (iv) any other rights to acquire, directly or indirectly, such capital stock. 

“Exercise” means, with respect to any Option, to exercise or exchange that Option for shares of Common Stock or convert
it into shares of Common Stock. 
 “Fair Market Value” means, on a given date, (i) if there is a public
market for the shares on such date, the closing trading price of the Common Stock or Company Stock, as applicable, on such stock exchange on which the shares are principally trading on the date in question, or if there were no sales on such date, on
the closest preceding date on which there were sales of shares, or (ii) if there is no public market for the shares on such date, as determined in good faith by the Board (such determination to be consistently applied from time to time). The
determination of Fair Market Value will not give effect to any restrictions on transfer of the shares, discounts for lack of marketability or the fact that such shares would represent a minority interest in the Company. If the applicable Management
Stockholder disagrees in good faith with the determination of Fair Market Value by the Board, the applicable Management Stockholder shall notify the Board in writing no later than twenty (20) days following his or her receipt of such
determination and shall set forth his or her reason(s) for disagreement and his or her assessment of Fair Market Value. If the Board and the applicable Management Stockholder are unable to reach agreement regarding Fair Market Value in the thirty
(30) days following the receipt by the Board of the applicable Management Stockholder’s notification, an independent appraiser shall be selected in good faith by the Board to determine the Fair Market Value. The determination of Fair
Market Value by an independent appraiser will be made without giving effect to any restrictions on transfer of the shares, discounts for lack of marketability or the fact that such shares would represent a minority interest in the Company and shall
be final and binding on the Company and the applicable Management Stockholder. The costs and expenses of such independent appraiser decision shall be borne solely by the Company. In the case of an Option, Fair Market Value means the Fair Market
Value of the Common Stock underlying the Option, less the Option’s exercise price. 
 “Family Group” means
any given Stockholder, along with any trust, foundation or similar entity controlled by such Stockholder, the only beneficiaries of which, or a corporation, partnership or limited liability company, the only stockholders, limited and/or general
partners or members, as the case may be, of which, include only such Stockholder, such Stockholder’s parents, such Stockholder’s spouse, such Stockholder’s descendents (whether natural or adopted), and spouses of such
Stockholder’s descendants. 
 “Good Reason” means, with respect to any Management Stockholder who is a
party to an employment agreement with any member of the Company Group, “Good Reason” as such term may be defined in such employment agreement or, if there is no such employment agreement or it is not defined therein, “Good
Reason” shall mean the occurrence of any of the following events, without the express written consent of the Management Stockholder, unless such events are fully corrected in all material respects by the Company within thirty (30) days
following written notification by the Management Stockholder to the Company of the occurrence 

  
 4 

 
of any one of the following: (i) material diminution in the Management Stockholder’s base salary or target bonus opportunity; (ii) material diminution in the executive’s
duties, authorities or responsibilities (other than temporarily while physically or mentally incapacitated or as required by applicable law); or (iii) relocation of the Management Stockholder’s primary work location by more than fifty
(50) miles from its then current location. The Management Stockholder must provide the Company with a written notice detailing the specific circumstances alleged to constitute Good Reason within ninety (90) days after first becoming aware
of the occurrence of such circumstances, and must thereafter terminate employment within thirty (30) days following the expiration of the Company’s thirty (30)-day cure period described above. 

“Government Entity” means any federal, state, local, municipal, county or other governmental, quasi-governmental,
administrative or regulatory authority, body, agency, court, tribunal, commission or other similar entity and any self-regulatory organization (including in each case any branch, department or official thereof). 

“Governmental Authorization” means any approval, consent, license, permit, waiver or other authorization issued,
granted, given or otherwise made available by or under, or any filing or other notice made to, any Government Entity or pursuant to any Law. 
 “Group” means two or more Persons who agree to act together for the purpose of acquiring, holding, voting or disposing of Stock. 

“Initial Contribution Agreement” shall have the meaning set forth in the recitals. 

“IPO” means the initial bona fide underwritten public offering and sale of Common Stock (or other Equity Securities of
the Company or any Subsidiary of the Company, or of any successor of the Company or any of its Subsidiaries) pursuant to an effective registration statement (other than on Form S-4, S-8 or a comparable form) filed under the Securities Act.

 “Law” means any law, statute, ordinance, rule, regulation, code, judgment, decree, order, award, decision,
injunction, settlement, process, ruling, subpoena, verdict or governmental authorization (in each applicable case, whether temporary, preliminary or permanent) enacted, issued, promulgated, enforced or entered into by a Government Entity.

 “Majority Sellers” shall have the meaning set forth in Section 4(a). 

“Management Agreement” shall have the meaning set forth in Section 12(a). 

“Management Stockholders” shall have the meaning set forth in the preamble. 

“Merger” shall have the meaning set forth in the recitals. 

“Merger Agreement” shall have the meaning set forth in the recitals. 

“Merger Sub” shall have the meaning set forth in the recitals. 

“Minority Stockholders” shall have the meaning set forth in the preamble. 

  
 5 

 “Option Agreements” shall have the meaning set forth in the recitals.

 “Option Stock” shall mean all shares of Common Stock or other capital stock of the Company received or to be
received by a Management Stockholder upon the Exercise or other settlement of an Option. 
 “Options” shall have
the meaning set forth in the recitals. 
 “Permira Appointed Directors” shall have the meaning set forth in
Section 9(a)(iii). 
 “Permira Representative Directors” shall have the meaning set forth in
Section 9(a)(ii). 
 “Permira Stockholders” shall have the meaning set forth in the preamble. 

“Permitted Transferee” shall have the meaning set forth in Section 3(b). 

“Person” means any individual, firm, company, partnership, limited liability company, trust, incorporated or
unincorporated association, joint venture, joint stock company, governmental body or other entity of any kind. 

“Preemptive Offer Notice” has the meaning set forth in Section 8(b). 

“Preemptive Right” has the meaning set forth in Section 8(a). 

“Preemptive Stockholders” means (i) the Permira Stockholders and (ii) each Minority Stockholder who is a
director of the Company or employed by the Company or any of its Subsidiaries at the time of the Preemptive Offer Notice and who is an “accredited investor” (as defined in Rule 501 (a) under the Securities Act) or, if not an
accredited investor, each such Management Stockholder who has retained a “purchaser representative” (as defined in Rule 501(h) under the Securities Act) or has such knowledge and experience in financial and business matters that he or she
is capable of evaluating the merits and risks of such investment in Equity Securities being offered in connection with the Preemptive Rights. 
 “Registration Rights Agreement” means the registration rights agreement, dated as of the date of this Agreement, by and among the Company, the Permira Stockholders and certain Minority
Stockholders signatory thereto. 
 “Section 6(a) Call Event” shall have the meaning set forth in
Section 6(a). 
 “Section 6(b) Call Event” shall have the meaning set forth in Section 6(b).

 “Securities Act” means the Securities Act of 1933, as amended from time to time, and the rules and
regulations promulgated thereunder. 
 “Stockholders” shall have the meaning set forth in the preamble and
shall include their respective successors and permitted assigns. 

  
 6 

 “Subscription Agreements” shall have the meaning set forth in the recitals.

 “Subsidiary” means, with respect to any Person, any corporation or other entity of which a majority of the
capital stock or other ownership interests having ordinary voting power to elect a majority of the board of directors or other persons performing similar function at the time directly or indirectly owned by such Person. 

“Tag-Along Exercise Period” shall have the meaning set forth in Section 5(b). 

“Tag-Along Notice” shall have the meaning set forth in Section 5(b). 

“Tag-Along Right” shall have the meaning set forth in Section 5(a). 

“Tag-Along Sale” shall have the meaning set forth in Section 5(a). 

“Tag-Along Shares” shall have the meaning set forth in Section 5(a). 

“Target” shall have the meaning set forth in the recitals. 

“Third Party Purchaser” shall have the meaning set forth in Section 4(a). 

“Transfer” shall have the meaning set forth in Section 3(a). 

* * * * 

  
 7 

 IN WITNESS WHEREOF, the parties hereto have executed this Stockholders’ Agreement on
the day and year first above written. 
  

			
	BAKERCORP INTERNATIONAL HOLDINGS, INC.
		
	 By:
	 	/s/ Richard Carey
		 	Name: RICHARD CAREY
		 	Title: CEO, President & Secretary

  

[Signature Page to Stockholders’ Agreement] 

 
			
	 PERMIRA IV CONTINUING L.P.1
  

By: PERMIRA IV MANAGERS LIMITED
 as general
partner of PERMIRA IV MANAGERS L.P. as manager of PERMIRA IV CONTINUING L.P.1

		
	 By:
	 	/s/ Kees Jager
		 	Name: Kees Jager
		 	Title:  As Alternate Director to Vic Holmes

  

			
	 PERMIRA IV CONTINUING L.P.2
  

By: PERMIRA IV MANAGERS LIMITED
 as general
partner of PERMIRA IV MANAGERS L.P. as manager of PERMIRA IV CONTINUING L.P.2

		
	 By:
	 	/s/ Kees Jager
		 	Name: Kees Jager
		 	Title:  As Alternate Director to Vic Holmes

  

			
	 PERMIRA INVESTMENTS LIMITED
  

By: PERMIRA NOMINEES LIMITED as nominee for PERMIRA INVESTMENTS LIMITED

		
	 By:
	 	/s/ Kees Jager
		 	Name: Kees Jager
		 	Title:  As Alternate Director to Vic Holmes

  

			
	 P4 CO-INVESTMENT L.P.
  

By: PERMIRA IV GP LIMITED as general partner of PERMIRA IV G.P. L.P. as general partner of P4 CO-INVESTMENT L.P.

		
	 By:
	 	/s/ Kees Jager
		 	Name: Kees Jager
		 	Title:  As Alternate Director to Vic Holmes

  

[Signature Page to Stockholders’ Agreement] 

 
	
	MANAGEMENT STOCKHOLDERS
	
	/s/ Paul Cummins
	Paul Cummins
	
	/s/ David F. Haas
	David F. Haas
	
	/s/ James H. Leonetti
	James H. Leonetti
	
	/s/ Robert B. Livingston
	Robert B. Livingston
	
	/s/ Amy M. Paul
	Amy M. Paul
	
	/s/ Mark D. Pugh
	Mark D. Pugh

  

[Signature Page to Stockholders’ Agreement] 

 
	
	ADDITIONAL STOCKHOLDERS
	
	/s/ Philip Green
	Philip Green
	
	/s/ Gerard Holthaus
	Gerard Holthaus
	
	/s/ Wolfgang Buchele
	Wolfgang Buchele

  

[Signature Page to Stockholders’ Agreement] 

 Schedule 1 
 BakerCorp – POST Transaction Capitalization Table 
 Post-Capitalization
Share and Option Summary 
  

									
	 	  	Shares	 	  	Options	 
	 Robert B. Livingston
	  	 	—  	  	  	 	38,578	  
	 James H. Leonetti
	  	 	—  	  	  	 	8,936	  
	 David F. Haas
	  	 	—  	  	  	 	17,455	  
	 Mark D. Pugh
	  	 	—  	  	  	 	19,378	  
	 Paul Cummins
	  	 	—  	  	  	 	10,362	  
	 Amy M. Paul
	  	 	—  	  	  	 	5,828	  
	 Richard Schroebel
	  	 	6,093	  	  	 	—  	  
	 Albert Larsen
	  	 	3,108	  	  	 	4,415	  
	 David Igata
	  	 	1,259	  	  	 	4,181	  
	 Jon Heslin
	  	 	1,622	  	  	 	13,299	  
	 Mehrzad Emanuel
	  	 	14,173	  	  	 	8,919	  
	 Shanen Foye
	  	 	—  	  	  	 	5,439	  
	 Kevin Boicken
	  	 	1,390	  	  	 	—  	  
	 Danny Goynes
	  	 	—  	  	  	 	2,100	  
	 Jurgen Verschoor
	  	 	2,087	  	  	 	9,713	  
	 Neal Crost
	  	 	—  	  	  	 	8,547	  
	 Chiheb Kallala
	  	 	2,578	  	  	 	1,278	  
	 Mark Solis
	  	 	—  	  	  	 	1,436	  
	 Erika Caramella
	  	 	15	  	  	 	97	  
	 Eric J. Ohsfeldt
	  	 	—  	  	  	 	4,273	  
	 Charles Rickman
	  	 	388	  	  	 	388	  
	 Mike Brown
	  	 	1,031	  	  	 	2,952	  
	 Brian Van Wicklen
	  	 	2,578	  	  	 	2,558	  
	 Bill Wood
	  	 	—  	  	  	 	2,556	  
	 Keith Cummings
	  	 	—  	  	  	 	1,554	  
	 Thomas Gaebel
	  	 	—  	  	  	 	1,165	  
	 Harvey Johnson
	  	 	—  	  	  	 	1,554	  
	 Tom Bullis
	  	 	77	  	  	 	233	  
		  	  
	  
	 	  	  
	  
	 
	 Subtotal—Management & Employees
	  	 	36,399	  	  	 	177,194	  
			
	 Philip Green
	  	 	5,000	  	  	 	—  	  
	 Gerard Holthaus
	  	 	5,000	  	  	 	—  	  
	 Wolfgang Buchele
	  	 	5,000	  	  	 	—  	  
		  	  
	  
	 	  	  
	  
	 
	 Subtotal—Non-Employee Directors
	  	 	51,399	  	  	 	177,194	  
			
	 Permira IV Continuing L.P. 1
	  	 	1,069,397	  	  	 	—  	  
	 Permira IV Continuing L.P. 2
	  	 	2,559,520	  	  	 	—  	  
	 Permira Investments Limited (“PIL”)
	  	 	87,409	  	  	 	—  	  
	 P4 Co-Investment L.P. (“CIS”)
	  	 	24,814	  	  	 	—  	  
		  	  
	  
	 	  	  
	  
	 
	 Subtotal—Permira Funds
	  	 	3,741,140	  	  	 	—  	  
		  	  
	  
	 	  	  
	  
	 
	 TOTAL
	  	 	3,792,539	  	  	 	177,194	  

 EXHIBIT A 
 Non-Competition Agreement 
 This Non-Competition Agreement (this
“Non-Competition Agreement”) is made and entered into by and between [•] (“Management Stockholder”) and BakerCorp International Holdings, Inc. (the “Company”)
on             (the “Effective Time”). Terms used but not defined herein shall have the meaning given to such terms in the Stockholders Agreement. 

WHEREAS, the Company and Management Stockholder are parties to Stockholders’ Agreement, dated
            , 2011 (the “Stockholders Agreement”); 
 NOW, THEREFORE, in consideration of the promises and agreements set forth below, Management Stockholder and the Company agree as follows: 

1. Non-Competition. For the period beginning on the Effective Time and ending two (2) years after the Effective Time,
Management Stockholder shall not, directly or indirectly, as an officer, director, employee, partner, stockholder, member, proprietor, consultant, joint venturer, investor or in any other capacity, engage in, or own, manage, operate or control, or
participate in the ownership, management, operation or control of, any business or entity which engages anywhere in North America in any business or activity which is in competition with any aspect of the Business (as such term is defined below),
provided, however, that nothing herein shall prohibit the Management Stockholder from (a) being a purely passive owner of, in the aggregate, not more than five percent (5%) of any class of securities of a publicly traded entity in any of the
foregoing lines of business or (b) having non-controlling ownership of interests in any investment fund that may directly or indirectly invest in entities in any of the foregoing lines of business, so long as, in the case of each of the preceding
clauses (a) and (b), the Management Stockholder does not participate in any way in the management, operation or control of such entity. In addition, the provisions of this Section 1 shall not be violated by the Management Stockholder commencing
employment with a subsidiary, division or unit of any entity that engages in a business in competition with the Business so long as the Management Stockholder and such subsidiary, division or unit does not engage in a business in competition with
the Business; provided, that, that the Management Stockholder has notified the Company in advance of commencing such employment and has notified his or her new employer of the restrictions of this paragraph. 

2. Definitions 
 a. “Business” means the business (i) of leasing temporary containment equipment, pumps, filtration equipment and related accessories, (ii) of selling pumps and related accessories, and
(iii) as conducted or contemplated to be conducted (in the case of contemplated conduct, as evidenced by tangible business activities that have been undertaken by any member of the Company Group or actions, activities or plans approved by the board
of directors of the Company) by the Company Group on the Effective Time. 
 b. “Common Stock” means (i) the
Company’s common stock, par value $0.01 per share, and (ii) any securities issued or issuable with respect to the capital stock referred to in clause (i) above by way of stock dividends or stock splits or in connection with a combination of
shares, recapitalization, merger, consolidation, or other reorganization. 

 c. “Company Group” means individually and collectively the Company and
each of its direct and indirect subsidiaries. 
 d. “Rollover Stock” means (i) Common Stock acquired pursuant
to exercise of an option to purchase Common Stock or (ii) a share of Common Stock, in each case contributed pursuant to the Contribution Agreements. 
 3. Entire Agreement. This Non-Competition Agreement contains the entire agreement and understanding between the Management Stockholder and the Company concerning the matters described
herein. It supersedes all prior agreements, discussions, negotiations, understandings and proposals of the parties with respect to such matters. The terms of this Non-Competition Agreement cannot be changed except in a subsequent document signed by
both parties. 
 4. Severability. Whenever possible, each provision or portion of any provision of this
Non-Competition Agreement will be interpreted in such manner as to be effective and valid under applicable law but the invalidity or unenforceability of any provision or portion of any provision of this Non-Competition Agreement in any jurisdiction
shall not affect the validity or enforceability of the remainder of this Non-Competition Agreement in that jurisdiction or the validity or enforceability of this Non-Competition Agreement, including that provision or portion of any provision, in any
other jurisdiction. In addition, should a court or arbitrator determine that any provision or portion of any provision of this Non-Competition Agreement is not reasonable or valid, either in period of time, geographical area, or otherwise, the
parties hereto agree that such provision should be interpreted and enforced to the maximum extent which such court or arbitrator deems reasonable or valid. 
 5. Governing Law. This Non-Competition Agreement shall be governed by the internal laws of the State of California, without regard to its conflict of laws principles. 

6. Counterparts. This Non-Competition Agreement may be executed in counterparts and will be as fully binding as if
signed in one entire agreement.

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