Document:

EX-10.4

 Exhibit 10.4 

EXECUTION VERSION 
 TAX
RECEIVABLE AGREEMENT 
 This TAX RECEIVABLE AGREEMENT (this “Agreement”), dated as of February 7, 2020, is
hereby entered into by and between Vertiv Holding Co, a Delaware corporation formerly known as GS Acquisition Holdings Corp (the “Corporate Taxpayer”), and VPE Holdings, LLC, a Delaware limited liability company (the
“Stockholder” and, together with the Corporate Taxpayer and the Stockholder, collectively, the “Parties”). 

RECITALS 
 WHEREAS, the
Stockholder is the historic owner of Vertiv Holdings, LLC, a Delaware limited liability company (the “Company”); 

WHEREAS, on December 10, 2019, the Corporate Taxpayer (as GS Acquisition Holdings Corp, a Delaware corporation), Crew Merger Sub I LLC, a
Delaware limited liability company and a direct, wholly-owned subsidiary of the Corporate Taxpayer (“First Merger Sub”), Crew Merger Sub II LLC, a Delaware limited liability company and a direct, wholly-owned subsidiary of the
Corporate Taxpayer (“Second Merger Sub”), the Stockholder and the Company entered into the certain Agreement and Plan of Merger (the “Merger Agreement”), pursuant to which First Merger Sub will merge with and into
the Company, the separate corporate existence of First Merger Sub will cease (the “First Merger”) and, as part of an integrated transaction, immediately following the First Merger, the Company will merge with and into Second Merger
Sub, the separate corporate existence of the Company will cease and Second Merger Sub as the surviving company will continue as a wholly-owned subsidiary of the Corporate Taxpayer; 

WHEREAS, the acquisition of the Company by Vertiv JV Holdings, LLC, a Delaware limited liability company formerly known as Cortes NP JV
Holdings, LLC, and the parent entity of Stockholder, pursuant to the certain transaction agreement, dated July 29, 2016, as well as historical acquisition activities of the Group Companies, including without limitation pursuant to that certain
asset purchase agreement dated January 19, 2018 to which the Company’s subsidiaries Vertiv Corporation (formerly known as Liebert Corporation), Vertiv Tech Co., Ltd. and Chloride Group Ltd are party, resulted in an increase to the tax
basis of certain intangible assets of the Company (together, the “Additional Basis Recovery”, as defined below); 

WHEREAS, the Company is entitled to the use of that certain Tax credit for increasing research activities (the “R&D
Credit”, as defined below); 
 WHEREAS, the payment by the Group Companies of certain expenses in connection with the Transactions
will generate certain income tax deductions for the Group Companies (the “Seller Expense Deductions”, as defined below); 

WHEREAS, the income, gain, loss, deduction and other Tax items of the Corporate Taxpayer and its Subsidiaries (as defined below) may be
affected by the Additional Basis Recovery and the R&D Credit and the Seller Expense Deductions (collectively, the “Tax Assets”); and 

 WHEREAS, the Parties desire to make certain arrangements with respect to the effect of the
Tax Assets on the actual liability for Taxes of the Corporate Taxpayer; 
 NOW, THEREFORE, in consideration of the foregoing premises and
the respective covenants and agreements contained herein, the receipt and sufficiency of which is hereby acknowledged, and intending to be legally bound hereby, the Parties agree as follows: 

ARTICLE I 

DEFINITIONS 

1.1    Definitions. As used in this Agreement, the terms set forth in this
ARTICLE I have the following meanings. 
 “Additional Basis Recovery” means any
(a) amortization deductions for Tax purposes attributable to the increase in tax basis of the Applicable Assets of the Group Companies resulting from or associated with the Historical Transactions (including to the extent attributable to
capitalized organizational costs, capitalized transaction costs, or capitalized debt issuance costs, and, for the avoidance of doubt, any tax basis of assets described in clause (ii) of the definition of Applicable Asset attributable to such
increase in tax basis) and (b) without duplication, any reduction of items of gain or income or increase in items of loss or deductions attributable to such increase in tax basis of amortizable assets, as specifically set forth on
Annex B. 
 “Advisory Firm” means any accounting firm or any law firm that, in either case, is
nationally recognized as being expert in tax matters. 
 “Affiliate” means, with respect to any specified Person,
(a) any other Person that directly or indirectly, through one or more intermediaries, Controls, is Controlled by, or is under common Control with, such specified Person, and (b) a Member of the Immediate Family of such specified Person.

 “Agreed Rate” means LIBOR plus 100 basis points. 

“Agreement” has the meaning set forth in the Preamble. 

“Amended Schedule” has the meaning set forth in Section 2.2(b). 

“Applicable Asset” means (i) any intangible asset that is amortizable under Section 197, or other provision, of the
Code that was held by a Group Company for U.S. federal income tax purposes immediately after an applicable Historical Transaction and any covenant entered into in connection with an applicable Historical Transaction that is amortizable under
Section 197, or other provision, of the Code and (ii) any asset that is “substituted basis property” as defined in the Code with respect to any asset described in clause (i) (or any other asset described in this
clause (ii)); provided, that Applicable Asset does not include any asset or portion thereof as to which there was a Divestiture or that is “substituted basis property” with respect to any asset (or portion thereof) as to which
there was a Divestiture, in each case, beginning on the effective date of the Divestiture. 

  
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 “Assumed State and Local Tax Rate” means, with respect to any Taxable Year,
the sum of the effective rates of tax imposed on the aggregate net income of the Corporate Taxpayer in each state or local jurisdiction in which the Corporate Taxpayer files Tax Returns for such Taxable Year, with the effective rate in any state or
local jurisdiction being equal to the product of: (i) the apportionment factor on the income or franchise Tax Return filed by the Corporate Taxpayer in such jurisdiction for such Taxable Year, and (ii) the maximum applicable corporate tax
rate in effect in such jurisdiction in such Taxable Year. 
 “Board” means the Board of Directors of the Corporate
Taxpayer. 
 “Breach” has the meaning set forth in Section 4.1(b). 

“Business Day” means any day, other than Saturday, Sunday or any other day on which banks located in the State of New York
are authorized or required to close. 
 “Change in Control” shall be deemed to have occurred upon: 

(a)    the sale, lease or transfer, in one or a series of related transactions, of all or substantially all
of the Corporate Taxpayer’s assets (determined on a consolidated basis) to any person or group (as such term is used in Section 13(d)(3) of the Exchange Act) other than to (i) any Subsidiary of the Corporate Taxpayer or (ii) an
entity if the Voting Securities of the Corporate Taxpayer outstanding immediately prior thereto represent at least 50.1% of the total voting power represented by the Voting Securities of such entity outstanding immediately after such sale, lease or
transfer; provided, that, for clarity and notwithstanding anything to the contrary, neither the approval of nor consummation of a transaction treated for U.S. federal income tax purposes as a liquidation into the Corporate Taxpayer of its
Subsidiaries or merger of such entities into one another will constitute a “Change in Control”; 

(b)    the merger, reorganization or consolidation of the Corporate Taxpayer with any other person, other
than a merger, reorganization or consolidation which would result in the Voting Securities of the Corporate Taxpayer outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into Voting
Securities of the surviving entity) at least 50.1% of the total voting power represented by the Voting Securities of the Corporate Taxpayer or such surviving entity outstanding immediately after such merger or consolidation; 

(c)    the liquidation or dissolution of the Corporate Taxpayer other than a liquidation or dissolution
which substantially all of the Corporate Taxpayer’s assets (determined on a consolidated basis) are transferred to an entity if the Voting Securities of the Corporate Taxpayer outstanding immediately prior thereto represent at least 50.1% of
the total voting power represented by the Voting Securities of such entity outstanding immediately after such liquidation or dissolution; or 

(d)    the acquisition, directly or indirectly, by any person or group (as such term is used in
Section 13(d)(3) of the Exchange Act) (other than (i) a trustee or other fiduciary holding securities under an employee benefit plan of the Corporate Taxpayer or (ii) a corporation or other entity owned, directly or indirectly, owned
by the stockholders 

  
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of the Corporate Taxpayer in substantially the same proportions as their ownership of stock of the Corporate Taxpayer) of more than 50.1% of the aggregate voting power of the Voting Securities of
the Corporate Taxpayer other than an acquisition by an entity if the Voting Securities of the Corporate Taxpayer outstanding immediately prior thereto represent at least 50.1% of the total voting power represented by the Voting Securities of such
entity outstanding immediately after such acquisition. 
 provided; however, that no action or actions
which would otherwise constitute a Change of Control shall be treated as causing a Change of Control if such action or actions were caused by the acquisition, directly or indirectly, by the Stockholder or any of its affiliates of Voting Securities
of the Corporate Taxpayer in any transaction not otherwise contemplated by the Merger Agreement. 
 “Closing Date” means
the date on which the closing of the transactions contemplated by the Merger Agreement occur. 
 “Code” means the Internal
Revenue Code of 1986, as amended and any successor U.S. federal income tax law. References to a section of the Code include any successor provision of Law. 

“Company” has the meaning set forth in the Recitals. 

“Control” means the possession, direct or indirect, of the power to direct or cause the direction of the management and
policies of a Person, whether through ownership of Voting Securities, by contract or otherwise. 
 “Corporate Taxpayer” has
the meaning set forth in the Preamble. 
 “Corporate Taxpayer Group” means any of the Corporate Taxpayer and its
Subsidiaries. 
 “Corporate Taxpayer Return” means the U.S. federal, state or local Tax Return, as applicable, of the
Corporate Taxpayer or any Subsidiary of the Corporate Taxpayer (and any Tax Return filed for a consolidated, affiliated, combined or unitary group of which the Corporate Taxpayer or any Subsidiary of the Corporate Taxpayer is a member) filed with
respect to Taxes for any Taxable Year. 
 “Cumulative Net Realized Tax Benefit” means, for a Taxable Year, the cumulative
amount of Realized Tax Benefits for all Taxable Years or portions thereof, up to and including such Taxable Year, net of the cumulative amount of Realized Tax Detriments for the same period. The Realized Tax Benefit and Realized Tax Detriment for
each Taxable Year or portion thereof shall be determined based on the most recent Tax Benefit Schedule or Amended Schedule, if any, in existence at the time of such determination. If a Cumulative Net Realized Tax Benefit is being calculated with
respect to a portion of a Taxable Year, then calculations of the Cumulative Net Realized Tax Benefit (including determinations relating to Additional Basis Recovery to the extent applicable) shall be made as if there were an interim closing of the
books and the Taxable Year had closed on the relevant date. 
 “Default Rate” means LIBOR plus 500 basis points. 

  
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 “Deferral Period” has the meaning set forth in
Section 3.2. 
 “Deferred Payments” has the meaning set forth in
Section 3.2. 
 “Determination” has the meaning ascribed to such term in Section 1313(a) of
the Code or similar provisions of state and local Tax Law, as applicable, or any other event (including the execution of Internal Revenue Service Form 870-AD) that finally and conclusively establishes the
amount of any liability for Tax. 
 “Divestiture” means any sale, disposition or transfer of all or a portion of a direct
or indirect interest in an Applicable Asset if (i) after and as a result of such sale, disposition or transfer, the full amount of Additional Basis Recovery has not been recovered and is not recoverable by the Corporate Taxpayer or its
Subsidiaries in respect of such Applicable Asset or portion thereof (or a successor asset) through amortization or otherwise for U.S. federal income tax purposes, or (ii) some or all of the gain or loss is not recognized with respect to such
sale, disposition or transfer pursuant to a non-recognition provision of the Code and such sale, disposition or transfer is to an entity that is not a wholly owned Subsidiary and that is not part of the
Corporate Taxpayer’s U.S. federal consolidated tax group (provided that, in the case of any such entity that is a partnership, a Divestiture shall not be deemed to occur with respect to any portion of such Applicable Asset in respect of
which the Corporate Taxpayer or its Subsidiaries can continue to recover the Additional Basis Recovery in respect of such Applicable Asset through amortization for U.S. federal income tax purposes), in each case, other than any such sale,
disposition or transfer that constitutes a Change in Control. 
 “Divestiture Acceleration Payment” has the meaning set
forth in Section 4.3(c). 
 “Early Termination Date” means (i) subject to clause (ii),
the date of an Early Termination Notice for purposes of determining the Early Termination Payment and (ii) in the event of a Divestiture the effective date of such Divestiture. 

“Early Termination Effective Date” has the meaning set forth in Section 4.2. 

“Early Termination Notice” has the meaning set forth in Section 4.2. 

“Early Termination Payment” has the meaning set forth in Section 4.3(b). 

“Early Termination Rate” means LIBOR plus 500 basis points. 

“Early Termination Schedule” has the meaning set forth in Section 4.2. 

“Effective Time” has the meaning given to such term in the Merger Agreement. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended. 

“Expert” has the meaning set forth in Section 7.9. 

“Final Year” has the meaning set forth in Section 3.1(c). 

  
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 “First Merger” has the meaning set forth in the Recitals. 

“First Merger Sub” has the meaning set forth in the Recitals. 

“First Seller Expense Deduction Payment Date” has the meaning set forth in Section 3.2. 

“Fourth Tax Year” means the fourth Taxable Year ending after the Closing Date (but in no event ending after December 31,
2023). 
 “Governmental Entity” means any court, tribunal, arbitrator, authority, agency, commission, legislative body or
official of the United States or any state, or similar governing entity, in the United States or in a foreign jurisdiction. 

“Group Company” and “Group Companies” have the respective meanings given to such terms in the Merger
Agreement. 
 “Historical Transactions” means any and all of the acquisition transactions effected by a Group Company prior
to the date of this Agreement. 
 “Hypothetical Tax Liability” means with respect to any Taxable Year, the liability for
Taxes for such Taxable Year or portion thereof of the Corporate Taxpayer and its Subsidiaries (including for the sake of clarity the Company and its Subsidiaries), calculated using the same methods, elections, conventions and similar practices used
in calculating the actual liability for Taxes of the Corporate Taxpayer and its Subsidiaries on the relevant Corporate Taxpayer Return, but (i) without taking into account any Tax Assets and (ii) for purposes of determining the liability
for state and local Taxes for a Taxable Year (which, for the avoidance of doubt, shall be deducted to the fullest extent permitted under applicable law in determining the liability for U.S. federal income Taxes for a Taxable Year), the combined tax
rate for state and local Taxes shall be the Assumed State and Local Tax Rate for such Taxable Year. If a Hypothetical Tax Liability is being calculated with respect to a portion of a Taxable Year, then calculations of the Hypothetical Tax Liability
shall be made as if there were an interim closing of the books of the Corporate Taxpayer and its Subsidiaries and the Taxable Year had closed on the relevant date. 

“Interest Amount” has the meaning set forth in Section 3.1(b)(iii). 

“IRS” means the Internal Revenue Service. 

“Law” means any statute, law (including common law), code, treaty, ordinance, rule or regulation of any Governmental Entity.

 “LIBOR” means during any period, an interest rate per annum equal to the
one-year LIBOR reported, on the date two days prior to the first day of such period, on the Reuters Screen page “LIBOR01” (or if such screen shall cease to be publicly available, as reported by any
other publicly available source of such market rate) for London interbank offered rates for U.S. dollar deposits for such period; provided, that if LIBOR is no longer a widely recognized benchmark rate for newly originated loans in the U.S.
loan market in U.S. dollars, then the parties will meet and confer reasonably and in good faith to agree upon a replacement interest rate, and its method of application, to replace LIBOR for all purposes under this Agreement, and in connection
therewith, the parties hereto shall amend this Agreement in such a manner as may be necessary or appropriate. 

  
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 “Merger Agreement” has the meaning set forth in the Recitals. 

“Maximum Rate” has the meaning set forth in Section 3.6. 

“Member of the Immediate Family” means, with respect to any Person who is an individual, (a) each parent, spouse (but
not including a former spouse or a spouse from whom such Person is legally separated) or child (including those adopted) of such individual and (b) each trust naming only one or more of the Persons listed in clause (a)
above as beneficiaries. 
 “Net Tax Benefit” has the meaning set forth in Section 3.1(b).

 “Objection Notice” has the meaning set forth in Section 2.2(a). 

“Parties” has the meaning set forth in the Preamble. 

“Payment Date” with respect to any payment required hereunder is the date such payment is actually made. 

“Person” means any individual, corporation, firm, partnership, joint venture, limited liability company, estate, trust,
business association, organization, Governmental Entity or other entity. 
 “Pre-Closing Tax
Period” means (i) each Tax period of a Group Company or the Group Companies that ends on or prior to the Closing Date (as defined in the Merger Agreement) and (ii) for any Tax period of a Group Company or the Group Companies that
begins on or prior to the Closing Date and ends after the Closing Date, the portion of such Tax period than ends on the Closing Date. 

“Present Value Payment” has the meaning set forth in Section 3.1(c). 

“Post-Final Year Tax Assets Amount” has the meaning set forth in Section 3.1(c). 

“R&D Credit” the amount of available and unused U.S. federal income tax credits for increasing research activities prior
to the date of this Agreement (including carryforwards of such credits) to which the Company is entitled pursuant to Section 41 of the Code and any corresponding state or local Tax credits, as specifically set forth on
Annex B. 
 “Realized Tax Benefit” means, for a Taxable Year (or portion thereof) beginning after
the Closing Date, the excess, if any, of the Hypothetical Tax Liability for such Taxable Year (or portion thereof) over the actual liability for Taxes of the Corporate Taxpayer and its Subsidiaries for such Taxable Year (or portion thereof). If all
or a portion of the actual liability for such Taxes for the Taxable Year arises as a result of an audit by a Taxing Authority of any Taxable Year, such liability shall not be included in determining the Realized Tax Benefit unless and until there
has been a Determination. If an “actual liability” for Taxes is being calculated with respect to a portion of a Taxable Year, then calculations of such actual liability (including determinations

  
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relating to the Tax Assets to the extent applicable) shall be made as if there were an interim closing of the books of the relevant entity and its Subsidiaries and the Taxable Year had closed on
the relevant date. 
 “Realized Tax Detriment” means, for a Taxable Year (or portion thereof) beginning after the Closing
Date, the excess, if any, of the actual liability for Taxes of the Corporate Taxpayer and its Subsidiaries for such Taxable Year (or portion thereof), over the Hypothetical Tax Liability for such Taxable Year (or portion thereof). If all or a
portion of the actual liability for such Taxes for the Taxable Year arises as a result of an audit by a Taxing Authority of any Taxable Year, such liability shall not be included in determining the Realized Tax Detriment unless and until there has
been a Determination. If an “actual liability” for Taxes is being calculated with respect to a portion of a Taxable Year, then calculations of such actual liability (including determinations relating to the Tax Assets to the extent
applicable) shall be made as if there were an interim closing of the books of the relevant entity and its Subsidiaries and the Taxable Year had closed on the relevant date. 

“Realized Tax Benefit or Detriment” has the meaning set forth in Section 2.1(a). 

“Reconciliation Dispute” has the meaning set forth in Section 7.9. 

“Reconciliation Procedures” has the meaning set forth in Section 2.2(a). 

“Schedule” means any of the following: (i) a Tax Benefit Schedule or (ii) the Early Termination Schedule, and, in
each case, any amendments thereto. 
 “Second Merger Sub” has the meaning set forth in the Recitals. 

“Seller Expense Deductions” means income Tax deductions of the Group Companies resulting from (i) the payment of any
Company Transaction Costs (as defined in the Merger Agreement) and (ii) the repayment of any Indebtedness (as defined in the Merger Agreement) in connection with the Transactions (including, for the avoidance of doubt, any resulting breakage
costs and the acceleration of any original issue discount payments, underwriting fees and expenses and sponsor transaction fees), to the extent included in the Closing Indebtedness Amount (as defined in the Merger Agreement), in the case of each of
(i) and (ii), to the extent resulting from the expenditures specifically set forth on Annex C (the amounts of such expenditures subject to amendment by Stockholder at Closing provided such amendments are supported by reasonable
documentation) and solely to the extent deductible under applicable Tax Law. 
 “Seller Expense Deduction Amount” has the
meaning set forth in Section 3.1(b). 
 “Seller Expense Deduction Deferral Period” has the
meaning set forth in Section 3.2. 
 “Senior Obligations” has the meaning set forth in
Section 5.1. 
 “Stockholder” has the meaning set forth in the Preamble. 

  
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 “Subsidiary” means, with respect to any Person, as of any date of
determination, any other Person as to which such Person, owns, directly or indirectly, or otherwise controls more than twenty-five percent (25%) of the voting power or other similar interests or the sole general partner interest or managing member
or similar interest of such Person. 
 “Tax Assets” has the meaning set forth in the Recitals. 

“Tax Benefit Payment” has the meaning set forth in Section 3.1(b). 

“Tax Benefit Schedule” has the meaning set forth in Section 2.1(a). 

“Tax Return” means any return, declaration, election, report or similar statement filed or required to be filed with a Taxing
Authority with respect to Taxes (including any attached schedules), including any information return, claim for refund, declaration of estimated Tax, and amendments of any of the foregoing. 

“Taxable Year” means a “taxable year” (as defined in Section 441(b) of the Code (or comparable provisions of
state or local Tax Law)) of the Corporate Taxpayer or any Subsidiary thereof, ending after the date hereof. 
 “Tax” and
“Taxes” means any and all U.S. federal, state and local taxes, assessments or similar charges that are based on or measured with respect to net income or profits, and any interest related to such Tax. 

“Taxing Authority” means any domestic, federal, national, state, county or municipal or other local government, any
subdivision, agency, commission or authority thereof, or any quasi-governmental body exercising any taxing authority or any other authority exercising Tax regulatory authority. 

“TRA Payment” means a Tax Benefit Payment (including any Deferred Payment), an Early Termination Payment and any Divestiture
Acceleration Payment. 
 “Transactions” means the transactions contemplated by the Merger Agreement, including the Mergers
(as defined therein). 
 “Treasury Regulations” means the final, temporary and (to the extent they can be relied upon)
proposed regulations under the Code promulgated from time to time (including corresponding provisions and succeeding provisions) as in effect for the relevant taxable period. 

“Valuation Assumptions” means, as of an Early Termination Date, the assumptions that (a) in each Taxable Year ending
after such Early Termination Date, the Corporate Taxpayer and its Subsidiaries will have taxable income sufficient to fully utilize (i) the deductions described in clause (a) of the definition of Additional Basis Recovery arising during
such Taxable Year or future Taxable Years in which such deductions would become available, (ii) the R&D Credit in the manner set forth in Annex B, and (iii) the Seller Expense Deductions available during such
Taxable Year or future Taxable Years in which such deductions would become available, (b) the U.S. federal income tax rates and state and local income tax rates that will be in effect for each such Taxable Year will be those specified for each
such Taxable Year by the Code and other 

  
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Law as in effect on the Early Termination Date (but taking into account for the applicable Taxable Years adjustments to the tax rates that have been enacted as of the Early Termination Date with
a delayed effective date and, in the case of state and local taxes, using the applicable Assumed State and Local Tax Rate) and (c) any loss carryovers generated by deductions described in clause (a) of the definition of Additional Basis
Recovery, and any Seller Expense Deductions, that are available as of the Early Termination Date will be used by the Corporate Taxpayer on a pro rata basis beginning in the Taxable Year including the Early Termination Date and ending in the Taxable
Year that includes the fifteenth anniversary of the Historical Transaction, taking into account any and all applicable limitations, (d) to the extent that (A) an asset described in clause (i) of the definition of Applicable Asset is
not held by the Corporate Taxpayer or a Subsidiary as of the Early Termination Date, and (B) a non-depreciable or non-amortizable asset described in
clause (ii) of the definition of Applicable Asset that is received in exchange for the asset described in Clause (A) is held by the Corporate Taxpayer or a Subsidiary, any such non-depreciable or non-amortizable asset will be disposed of on the later of (i) the fifteenth anniversary of the Historical Transaction or (ii) the Early Termination Date, for an amount sufficient to fully utilize the tax
basis with respect to such asset; provided, that in the event of a Change in Control which includes a taxable sale of such asset (including the sale of equity interests in a Subsidiary classified as a partnership or disregarded entity that
directly or indirectly owns such asset), such asset shall be deemed disposed of at the time of the Change in Control, and (e) the Corporate Taxpayer will make a Tax Benefit Payment on the due date (without taking into account automatic
extensions) for each Taxable Year for which a Tax Benefit Payment would be due. 
 “Voting Securities” means any securities
of the Corporate Taxpayer which are entitled to vote generally in matters submitted for a vote of the Corporate Taxpayer’s stockholders or generally in the election of the Board. 

1.2    Terms Generally. In this Agreement, unless otherwise specified or where the context otherwise
requires: 
 (a)    the headings of particular provisions of this Agreement are inserted for convenience only and will
not be construed as a part of this Agreement or serve as a limitation or expansion on the scope of any term or provision of this Agreement; 

(b)    words importing any gender shall include other genders; 

(c)    words importing the singular only shall include the plural and vice versa; 

(d)    the words “include,” “includes” or “including” shall be deemed to be followed by the
words “without limitation”; 
 (e)    the words “hereof,” “herein” and
“herewith” and words of similar import shall, unless otherwise stated, be construed to refer to this Agreement as a whole and not to any particular provision of this Agreement; 

(f)    unless otherwise indicated, references to “Annexes,” Articles,” “Exhibits,”
“Sections” or “Schedules” shall be to Annexes Articles, Exhibits, Sections or Schedules of or to this Agreement; 

  
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 (g)    references to the “Corporate Taxpayer Group” are
references to members of the Corporate Taxpayer Group individually and collectively; 
 (h)    references to any Person
include the successors and permitted assigns of such Person; 
 (i)    the use of the words “or,”
“either” and “any” shall not be exclusive; 
 (j)    wherever a conflict exists between this
Agreement and any other agreement between the Parties, this Agreement shall control but solely to the extent of such conflict; 

(k)    references to “$” or “dollars” means the lawful currency of the United States of America; 

(l)    references to any agreement, contract or schedule, unless otherwise stated, are to such agreement, contract or
schedule as amended, modified or supplemented from time to time in accordance with the terms hereof and thereof; 

(m)    references to any law, statute, regulation or other government rule is to it as amended, consolidated, replaced,
supplemented or interpreted from time to time and, as applicable, is to corresponding provisions of successor laws, statutes regulations or other government rules; 

(n)    capitalized terms not otherwise defined herein shall have the meanings ascribed to such terms in the Merger
Agreement; and 
 (o)    the Parties have participated collectively in the negotiation and drafting of this Agreement;
accordingly, in the event an ambiguity or question of intent or interpretation arises, it is the intention of the Parties that this Agreement shall be construed as if drafted collectively by the Parties, and that no presumption or burden of proof
shall arise favoring or disfavoring any Party by virtue of the authorship of any provisions of this Agreement. 
 ARTICLE II 

DETERMINATION OF CERTAIN REALIZED TAX BENEFIT 

2.1    Tax Benefit Schedule. 

(a)    Tax Benefit Schedule. Within forty-five (45) calendar days after the due date (taking into
account valid extensions) of the U.S. federal income Tax Return of the Corporate Taxpayer for any Taxable Year in which there is a Realized Tax Benefit or Realized Tax Detriment (collectively, a “Realized Tax Benefit or Detriment”),
the Corporate Taxpayer shall provide to the Stockholder a schedule showing in reasonable detail the calculation of the Realized Tax Benefit or Detriment for such Taxable Year, the Cumulative Net Realized Tax Benefit as of the end of such Taxable
Year and any Tax Benefit Payment due in respect of such Taxable Year (a “Tax Benefit Schedule”). The Tax Benefit Schedule provided by the Corporate Taxpayer will become final as provided in Section 2.2(a)
and shall be subject to amendment as provided in Section 2.2(b). 

  
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 (b)    Applicable Principles. The Realized Tax Benefit or
Detriment for each Taxable Year is intended to measure the decrease or increase in the actual liability for Taxes of the Corporate Taxpayer and its Subsidiaries for such Taxable Year (or portion thereof) attributable to the Tax Assets determined
using a “with and without” methodology. For the avoidance of doubt, (i) the actual liability for Taxes of the Corporate Taxpayer and its Subsidiaries will take into account any items attributable to the Tax Assets (and any carryovers
and carrybacks attributable thereto) and, for the avoidance of doubt, such Tax Assets (including carryovers and carrybacks attributable thereto) shall be taken into account by the Corporate Taxpayer and its Subsidiaries after taking into account the
Tax assets and attributes available for use in the applicable Taxable Year (including, without limitation, any deductions, credits, carryovers and carrybacks or other similar Tax assets and attributes) to the extent such Tax assets and attributes
were generated by the businesses and assets held by the Group Companies as of the Effective Time (for the avoidance of doubt, any Tax assets and attributes (including, without limitation, any deductions, credits, carryovers and carrybacks or other
similar Tax assets and attributes) attributable to businesses or assets acquired after the Effective Time shall be taken into account by the Corporate Taxpayer and its Subsidiaries only after taking into account the Tax Assets (including carryovers
and carrybacks attributable thereto)) and (ii) the Hypothetical Tax Liability shall not take into account any Tax Assets (including any carryovers and carrybacks attributable thereto). Carryovers or carrybacks of any Tax item attributable to
the Tax Assets shall be considered to be subject to the rules and limitations of the Code and the Treasury Regulations or the appropriate provisions of U.S. state and local Tax Law, as applicable, governing the use, limitation and expiration of
carryovers or carrybacks of the relevant type. (For the avoidance of doubt, any Tax Asset not used in a Taxable Year of the Corporate Taxpayer shall be carried over or carried back, and if carried over, used by the Corporate Taxpayer in each
subsequent Taxable Year to the extent permitted by the rules and limitations of the Code and the Treasury Regulations or the appropriate provisions of U.S. state and local Tax Law, as applicable.) 

2.2    Procedure; Amendments. 

(a)    Procedure. Every time the Corporate Taxpayer delivers to the Stockholder an applicable Schedule under
this Agreement, including any Amended Schedule delivered pursuant to Section 2.2(b), including any Early Termination Schedule or amended Early Termination Schedule, the Corporate Taxpayer shall also allow the Stockholder,
upon request, reasonable access, at the Stockholder’s sole cost, to the appropriate representatives, as reasonably determined by the Corporate Taxpayer, of the Corporate Taxpayer and the Advisory Firm that prepared the relevant Corporate
Taxpayer Returns and Schedule in connection with a review of such Schedule. Without limiting the application of the preceding sentence, the Corporate Taxpayer shall, upon reasonable request, deliver to the Stockholder work papers providing
reasonable detail regarding the computations reflected in such Schedule. An applicable Schedule or amendment thereto shall, subject to the final sentence of this Section 2.2(a), become final and binding on the Stockholder
thirty (30) calendar days from the first date on which the Corporate Taxpayer sent the Stockholder the applicable Schedule or amendment thereto unless (i) the Stockholder within thirty (30) calendar days after the date the Corporate
Taxpayer sent such Schedule or amendment thereto provides the Corporate Taxpayer with written notice of a material objection to such Schedule made in good faith and setting forth in reasonable detail the Stockholder’s material objection along
with a letter from an Advisory Firm supporting such 

  
 12 

 
objection, if such objection relates to the application of Tax Law (an “Objection Notice”) or (ii) the Stockholder provides a written waiver of the right to provide any
Objection Notice with respect to such Schedule or amendment thereto within the period described in clause (i) above, in which case such Schedule or amendment thereto becomes binding on the date the waiver is
received by the Corporate Taxpayer. If the Corporate Taxpayer and the Stockholder are unable to resolve the issues raised in such Objection Notice within thirty (30) calendar days after receipt by the Corporate Taxpayer of the Objection Notice
(or such longer period as they may agree in writing), the Corporate Taxpayer and the Stockholder shall employ the reconciliation procedures described in Section 7.9 (the “Reconciliation Procedures”). 

(b)    Amended Schedule. The applicable Schedule for any Taxable Year shall be amended from time to time by
the Corporate Taxpayer or at the request of the Stockholder (i) in connection with a Determination affecting such Schedule, (ii) to correct inaccuracies in the Schedule identified after the date the Schedule was provided to the
Stockholder, (iii) to comply with an Expert’s determination under the Reconciliation Procedures, (iv) to reflect a change in the Realized Tax Benefit or Detriment for such Taxable Year attributable to a carryback or carryforward of a
loss or other Tax item to such Taxable Year or (v) to reflect a change in the Realized Tax Benefit or Detriment for such Taxable Year attributable to an amended Tax Return filed for such Taxable Year (any such Schedule, an “Amended
Schedule”). 
 2.3    Consistency with Tax Returns. Notwithstanding anything to the contrary
herein, all calculations and determinations hereunder (other than, where the context does not permit, the Hypothetical Tax Liability), including the Tax Assets, the Schedules, and the determination of the Realized Tax Benefit or Detriment, shall be
made in accordance with any elections, methodologies or positions taken on the relevant Corporate Taxpayer Returns. 
 ARTICLE III

 TAX BENEFIT PAYMENTS 

3.1    Payments. 

(a)    Payments. Except (i) with respect to any Present Value Payment (as defined below) described in
Section 3.1(c), (ii) with respect to any Deferred Payments (as defined below) described in Section 3.2 or (iii) as provided in Section 5.3, within five
(5) Business Days after a Tax Benefit Schedule with respect to a Taxable Year delivered to the Stockholder pursuant to this Agreement becomes final in accordance with ARTICLE II, the Corporate Taxpayer shall pay or
cause to be paid to the Stockholder the Tax Benefit Payment (if any) determined pursuant to Section 3.1(b). Such Tax Benefit Payment shall be made, at the sole discretion of the Corporate Taxpayer, by wire or Automated
Clearing House transfer of immediately available funds to the bank account previously designated by the Stockholder to the Corporate Taxpayer or as otherwise agreed by the Corporate Taxpayer and the Stockholder. 

(b)    Certain Definitions. 

(i)    A “Tax Benefit Payment” means an amount (which shall not be less than zero) equal
to the sum of the Net Tax Benefit and the Interest Amount. 

  
 13 

 (ii)    Subject to Section 3.3,
the “Net Tax Benefit” for a Taxable Year shall be an amount equal to the excess, if any, of 65% of the Cumulative Net Realized Tax Benefit as of the end of such Taxable Year (or portion thereof) over the total amount of Tax
Benefit Payments previously made under Section 3.1(a). 
 (iii)    The
“Interest Amount” for a Taxable Year (or portion thereof) shall equal interest on the Net Tax Benefit with respect to such Taxable Year (or portion thereof) calculated at the Agreed Rate compounded annually from the due date
(without extensions) for filing the U.S. federal income Tax Return of the Corporate Taxpayer for such Taxable Year until the Payment Date; provided, that notwithstanding anything to the contrary contained in this Agreement, (i) the
Interest Amount with respect to any Deferred Payment shall be calculated at the Agreed Rate compounded annually accruing from the due date (without extensions) for filing the U.S. federal income Tax Return of the Corporate Taxpayer for the Fourth
Tax Year and no interest of any kind shall be payable with respect to any Deferred Payments for any portion of the Deferral Period and (ii) the Interest Amount with respect to any payment, or portion thereof, relating to Seller Expense
Deductions (each a “Seller Expense Deduction Amount”) shall be calculated at the Agreed Rate compounded annually accruing from the due date (without extensions) for filing the U.S. federal income Tax Return of the Corporate Taxpayer
for the Fourth Tax Year and no interest of any kind shall be payable with respect to any Seller Expense Deduction Amount for any portion of the Seller Expense Deduction Deferral Period. 

(c)    Final Year. In the event there are any Tax Assets remaining, the Corporate Taxpayer shall include with the
Tax Benefit Schedule for the Taxable Year of the Corporate Taxpayer that includes the twelfth (12th) anniversary of the Closing Date (the “Final Year”) a written statement in reasonable detail summarizing the Tax Assets that will
remain outstanding after such Final Year and the dollar amount thereof (the “Post-Final Year Tax Assets Amount”). Such additional information shall be considered a Schedule under this Agreement. The Corporate Taxpayer shall pay to
the Stockholder, concurrently with the applicable Payment Date for the Tax Benefit Payment for such Final Year (or if there is no such Tax Benefit Payment, within five (5) Business Days after such Schedule becomes final in accordance with
ARTICLE II), an amount equal to (the “Present Value Payment”): the sum of (i) the net present value, discounted at the Early Termination Rate as of the Payment Date therefor, of the result of 65% of
Post-Final Year Tax Assets Amount, plus (ii) interest on the amount described in the immediately preceding clause (i) calculated at the Agreed Rate compounded annually from the due date (without extensions) for filing the U.S. federal
income Tax Return of the Corporate Taxpayer for the Final Year until the Payment Date for the Present Value Payment. The Present Value Payment shall be made, at the sole discretion of the Corporate Taxpayer, by wire or Automated Clearing House
transfer of immediately available funds to a bank account or accounts designated by the Stockholder or as otherwise agreed by the Corporate Taxpayer and the Stockholder. The computation of the Present Value Payment shall be subject to the
Reconciliation Procedures. 

  
 14 

 3.2    Deferred Payments. Notwithstanding anything to the
contrary contained in this Agreement, the Corporate Taxpayer shall have no obligation to make any Tax Benefit Payments to the extent arising out of the Additional Basis Recovery or the R&D Credit under this Agreement until the Payment Date
applicable to the third Taxable Year after the Closing Date (but in no event including any Taxable Year beginning after December 31, 2022) (the “Deferral Period”). The amount of any Cumulative Net Realized Tax Benefit relating
to any portion of the Deferral Period, together with any Interest Amount relating thereto as determined under Section 3.1(b), shall be paid to the Stockholder ratably over the nine (9) Taxable Year period starting with
the Fourth Tax Year (any such payment, a “Deferred Payment”). Notwithstanding anything to the contrary contained in this Agreement, the Corporate Taxpayer shall have no obligation to make any Tax Benefit Payments to the extent
arising out of the Seller Expense Deductions under this Agreement until the Payment Date applicable to the Fourth Tax Year (the “First Seller Expense Deduction Payment Date” with all Taxable Years (or portions thereof) prior to the
First Seller Expense Deduction Payment Date the “Seller Expense Deduction Deferral Period”). The Tax Benefit Payments attributable to the Seller Expense Deductions, together with any Interest Amount relating thereto as determined
under Section 3.1(b), shall be paid to the Stockholder ratably over the three (3) Taxable Year period following the end of the Seller Expense Deduction Deferral Period. Notwithstanding anything to the contrary
contained in this Agreement, the Seller Expense Deductions shall be deemed to have created a Realized Tax Benefit during the Seller Expense Deduction Deferral Period, and Corporate Taxpayer shall make Tax Benefit payments attributable to the Seller
Expense Deductions, together with any Interest Amount relating thereto as determined under Section 3.1(b), ratably over the three (3) Taxable Year period following the end of the Seller Expense Deduction Deferral
Period. 
 3.3    Duplicative Payments. It is intended that the provisions of this Agreement will not
result in a duplicative payment of any amount required under this Agreement. It is also intended that the provisions of this Agreement, subject to ARTICLE IV, will result in an amount equal to 65% of the Cumulative Net
Realized Tax Benefit as of any determination date having been paid to the Stockholder pursuant to this Agreement, plus interest as provided herein; provided, that, for the avoidance of doubt, and subject to
Section 3.4, the foregoing shall not be construed as creating a clawback obligation in the event that more than 65% of the Cumulative Net Realized Tax Benefit has been paid to the Stockholders as a result of a subsequent
reduction in the Cumulative Net Realized Tax Benefit pursuant to a Determination or otherwise. The provisions of this Agreement shall be construed in the appropriate manner to ensure such intentions are realized. 

3.4    Excess Payments. In the event that an Amended Schedule reflects a decrease in the Realized Tax
Benefit (including, without limitation, by reason of net operating loss carryovers or carrybacks) and payments have previously been made based on the higher Realized Tax Benefit reflected in any prior Schedule (any such excess, an “Excess
Payment”), future Tax Benefit Payments to the Shareholder, if any, to be made under this Agreement shall be reduced by the amount of the Excess Payment until such Excess Payment has effectively been repaid. 

3.5    Stock and Stockholder of the Corporate Taxpayer. TRA Payments and any other payments hereunder are
not conditioned on the Stockholder holding any stock of the Corporate Taxpayer (or any successor thereto) or any other Person. 

  
 15 

 3.6    Interest Amount Limitation. Notwithstanding
anything herein to the contrary, if at any time the applicable Agreed Rate or Default Rate shall exceed the maximum lawful interest rate that may be contracted for, charged, taken, received or reserved in accordance with applicable Law (the
“Maximum Rate”), the Agreed Rate and Default Rate (as applicable) shall be limited to the Maximum Rate; provided, that any amounts unpaid as a result of such limitation (other than with respect to an Early Termination
Payment) shall be paid (together with interest calculated at the Agreed Rate or the Default Rate (as applicable) with respect to the period such amounts remained unpaid) on subsequent payment dates to the extent not exceeding the legal limitation.

 3.7    Payment Limitations. The Corporate Taxpayer and the Stockholder hereby acknowledge and agree
that, as of the date of this Agreement, the aggregate value of the Tax Benefit Payments cannot be reasonably ascertained for U.S. federal income or other applicable tax purposes. Notwithstanding anything to the contrary in this Agreement, unless the
Stockholder notifies the Corporate Taxpayer otherwise, the stated maximum selling price (within the meaning of Treasury Regulations section 15A.453-1(c)(2)) with respect to the transactions contemplated by the
Merger Agreement shall not exceed 120% of the amount of the Final Merger Consideration (as defined in the Merger Agreement) received in connection with such transactions (which Final Merger Consideration, for the avoidance of doubt, shall include
the amount of any cash and the fair market value of any Parent Class A Stock received in such transactions and shall exclude the fair market value of any Tax Benefit Payments) and the amount of the Final Merger Consideration received in
connection with such transactions and the aggregate Tax Benefit Payments to the Stockholder in respect of such transactions (other than amounts accounted for as interest under the Code) shall not exceed such stated maximum selling price. 

3.8    Day Count Convention. All computations using the Agreed Rate, Default Rate or Early Termination Rate
shall use the “Actual/360” day count convention. 
 ARTICLE IV 

TERMINATION 

4.1    Early Termination, Change in Control and Breach of Agreement. 

(a)    The Corporate Taxpayer may, following the third anniversary of this Agreement and with the prior written consent of
a majority of the disinterested members of the Board, terminate this Agreement with respect to all amounts payable to the Stockholder (including, for the avoidance of doubt, any transferee pursuant to Section 7.5(a)) at any
time by paying or causing to be paid to the Stockholder an Early Termination Payment; provided, that this Agreement shall terminate only upon the payment in full of such Early Termination Payment to the Stockholder; provided,
further, that the Corporate Taxpayer may withdraw any notice to execute its termination rights under this Section 4.1(a) prior to the time at which any Early Termination Payment has been paid. Upon payment of an
Early Termination Payment to the Stockholder the Corporate Taxpayer shall not have any further payment obligations in respect of the Stockholder under this Agreement, other than for any Tax Benefit Payment (i) agreed to by the Corporate
Taxpayer and the Stockholder as due and payable but unpaid as of the Early Termination Date, (ii) that is the subject of an Objection Notice, which will be payable in 

  
 16 

 
accordance with resolution of the issues identified in such Objection Notice pursuant to this Agreement, and (iii) due for the Taxable Year ending with or including the Early Termination
Date (except to the extent that the amounts described in clauses (i), (ii) or (iii) above are included in the calculation of the Early Termination Payment). 

(b)    In the event of a Change in Control or in the event that the Corporate Taxpayer materially breaches any of its
material obligations under this Agreement, whether as a result of failure to make any payment when due pursuant to the terms of this Agreement, failure to honor any other material obligation required hereunder or by operation of Law as a result of
the rejection of this Agreement in a case commenced under the Bankruptcy Code or otherwise (any such event, a “Breach”), then all obligations hereunder shall be accelerated, and such obligations shall be calculated as if an Early
Termination Notice had been delivered on the date of such Change in Control or breach, as applicable, to the Stockholder and shall include, but not be limited to, (i) the Early Termination Payment calculated as if an Early Termination Notice
had been delivered on the date of such Change in Control or breach (and the Corporate Taxpayer shall provide the Stockholder with an Early Termination Schedule, which shall become final in accordance with the procedures set forth in
Section 4.2), (ii) any Tax Benefit Payment agreed to by the Corporate Taxpayer and the Stockholder as due and payable but unpaid as of the date of such Change in Control or breach, as applicable (iii) any Tax
Benefit Payment that is the subject of an Objection Notice, which will be payable in accordance with resolution of the issues identified in such Objection Notice pursuant to this Agreement and (iv) any Tax Benefit Payment due for the Taxable
Year ending with or including the date of such Change in Control or breach, as applicable (except to the extent that the amounts described in clauses (ii), (iii) and (iv) above are included in the
calculation of the amount described in clause (i) above). Notwithstanding the foregoing, (A) in the event of a Change in Control, the Stockholder may waive the acceleration of payments hereunder pursuant
to this Section 4.1(b), in which case for each Taxable Year ending on or after the date of the Change in Control, all TRA Payments shall be calculated by applying clauses (a) and (c) of the definition of
“Valuation Assumptions,” substituting in each case the term “the date of the Change in Control” for “the Early Termination Date”, and (B) in the event that the Corporate Taxpayer materially breaches this Agreement,
the Stockholder shall be entitled to elect to receive the amounts set forth in clauses (i), (ii), (iii) and (iv) above or to seek specific performance of the terms hereof. The
Parties agree that it will not be considered to be a material breach of a material obligation under this Agreement to make a payment due pursuant to this Agreement within forty-five (45) calendar days of the date such payment is due (for the
avoidance of doubt, taking into account Sections 3.3, 5.2 and 5.3). 

(c)    Divestiture Acceleration Payment. In the event of a Divestiture, the Corporate Taxpayer shall pay to the
Stockholder the Divestiture Acceleration Payment in respect of such Divestiture, which shall be calculated utilizing the Valuation Assumptions, as adjusted pursuant to Section 4.3(c). 

4.2    Early Termination Notice. If the Corporate Taxpayer chooses to exercise its right of early
termination under Section 4.1, the Corporate Taxpayer shall deliver to the Stockholder, notice of such intention to exercise such right (“Early Termination Notice”) and a schedule (the “Early
Termination Schedule”) specifying the Corporate Taxpayer’s intention to exercise such right and showing in reasonable detail the calculation of the Early Termination Payment. The Early Termination Schedule will become final and binding
with respect to the Stockholder thirty 

  
 17 

 
(30) calendar days from the first date on which the Corporate Taxpayer sent the Stockholder such Early Termination Schedule unless (a) the Stockholder within thirty (30) calendar
days after the date the Corporate Taxpayer sent such Schedule or amendment thereto provides the Corporate Taxpayer with an Objection Notice with respect to such Early Termination Schedule or (b) the Stockholder provides a written waiver of the
right to provide any Objection Notice with respect to such Schedule or amendment thereto within the period described in clause (a) above, in which case such Schedule or amendment thereto becomes binding on the date the
waiver is received by the Corporate Taxpayer. If the Corporate Taxpayer and the Stockholder, for any reason, are unable to resolve the issues raised in such Objection Notice within thirty (30) calendar days after receipt by the Corporate
Taxpayer of the Objection Notice, the Corporate Taxpayer and the Stockholder shall employ the Reconciliation Procedures. The date on which every Early Termination Schedule under this Agreement becomes final with respect to the Stockholder in
accordance with this Section 4.2 shall be the “Early Termination Effective Date”. 

4.3    Payment upon Early Termination.  

(a)    Within five (5) Business Days after the Early Termination Effective Date or the effective date of the
applicable Divestiture, as applicable, the Corporate Taxpayer shall pay or cause to be paid to the Stockholder an amount equal to the Early Termination Payment or Divestiture Acceleration Payment, as applicable. Such payment shall be made, at the
sole discretion of the Corporate Taxpayer, by wire or Automated Clearing House transfer of immediately available funds to a bank account or accounts designated by the Stockholder or as otherwise agreed by the Corporate Taxpayer and the Stockholder.

 (b)    An “Early Termination Payment” shall equal the net present value, discounted at the Early
Termination Rate as of the Early Termination Date, of all Tax Benefit Payments that would be required to be paid by the Corporate Taxpayer to the Stockholder under Sections 3.1 and 3.2 beginning from the Early Termination
Date assuming that the Valuation Assumptions are applied. 
 (c)    A “Divestiture Acceleration
Payment” shall equal the net present value, discounted at the Early Termination Rate as of the Early Termination Date, of all Tax Benefit Payments resulting solely from the Tax Assets (or portion thereof) that are the subject of the
Divestiture (or, without duplication, any other portion of such Tax Asset to the extent that the Additional Basis Recovery attributable thereto is not recoverable for U.S. federal income tax purposes after the applicable Divestiture) that would be
required to be paid by the Corporate Taxpayer to the Stockholder under Sections 3.1 or 3.2 beginning from the Early Termination Date assuming the Valuation Assumptions are applied. The computation of the Divestiture
Acceleration Payment shall be subject to the Reconciliation Procedures. For the avoidance of doubt, with respect to any Tax Year of the Corporate Taxpayer, no Divestiture Acceleration Payment shall become due and payable in respect of any amount to
the extent such amount has been or will be taken into account in any other payment from the Corporate Taxpayer to the Stockholder under this Agreement during such Tax Year. 

  
 18 

 ARTICLE V 

SUBORDINATION AND LATE PAYMENTS 

5.1    Subordination. Notwithstanding any other provision of this Agreement to the contrary, any TRA Payment
(or portion thereof) required to be made under this Agreement shall rank subordinate and junior in right of payment to any principal, interest (including interest which accrues after the commencement of any case or proceeding in bankruptcy, or the
reorganization of the Corporate Taxpayer or any Subsidiary thereof), fees, premiums, charges, expenses, attorneys’ fees or other obligations in respect of indebtedness for borrowed money of the Corporate Taxpayer (and its wholly-owned
Subsidiaries, if applicable) (“Senior Obligations”) and shall rank pari passu with all current or future unsecured obligations of Corporate Taxpayer (and its wholly-owned Subsidiaries, as applicable) that are
not Senior Obligations. 
 5.2    Late Payments by the Corporate Taxpayer. The amount of all or any
portion of any TRA Payment not made to the Stockholders when due under the terms of this Agreement (taking into account any deferral under Sections 3.2 or 5.3) shall be payable together with any interest thereon, computed
at the Default Rate and commencing from the date on which such TRA Payment was due and payable. 
 5.3    Payment
Deferral. 
 (a)    Notwithstanding anything to the contrary provided herein, to the extent that, at the time any TRA
Payment becomes due and payable hereunder, (i) the Corporate Taxpayer Group is not permitted, pursuant to the terms of any outstanding or committed indebtedness for borrowed money to make such TRA Payment (not including an Early Termination
Payment, other than one in connection with a Change in Control or Breach), or if, after making such TRA Payment, the Corporate Taxpayer Group would be in breach or default under the terms of any such indebtedness, or (ii) (A) the Corporate
Taxpayer does not have the cash on hand to make such TRA Payment, and (B) the Corporate Taxpayer is not able to obtain cash from the Corporate Taxpayer Group to fund such TRA Payment because (1) the Corporate Taxpayer Group is not
permitted, pursuant to the terms of any such indebtedness, to make tax distributions or similar payments to the Corporate Taxpayer to allow it to make such TRA Payment, or if, after making such TRA Payment, the Corporate Taxpayer Group would be in
breach or default under the terms of any such indebtedness, or (2) the applicable members of the Corporate Taxpayer Group do not have the cash on hand to make the payment described in clause (1) above, then, in each
case, upon prior notice to the Stockholder, the Corporate Taxpayer shall be permitted to defer such TRA Payment until the condition described in clauses (i) or (ii) above is no longer applicable.

 (b)    If the Corporate Taxpayer defers any TRA Payment (or portion thereof) pursuant to
Section 5.3(a), such deferred amount shall accrue interest at the Agreed Rate, from the date that such amounts originally became due and owing pursuant to the terms hereof to the Payment Date, compounded annually, and such
deferred amounts shall not be treated as late payments or as a breach of any obligation under this Agreement, provided that, for the avoidance of doubt, if Section 5.2 becomes applicable because the conditions
described in clauses (i) and (ii) in Section 5.3(a) are no longer applicable and such TRA Payment (or portion thereof) still 

  
 19 

 
has not been paid to the Stockholder, then Section 5.2, and not this Section 5.3(b), shall apply for the period commencing on the date on which
such conditions are no longer applicable. Notwithstanding the foregoing, if any TRA Payment (or portion thereof) is deferred pursuant to the terms of Section 5.3(a) for a period of twelve (12) consecutive months, such
deferred amount shall thereupon accrue interest at the Default Rate from and after the last day of such 12-month period. 

ARTICLE VI 

CERTAIN COVENANTS 

6.1    Participation in the Corporate Taxpayer’s Tax Matters. Except as otherwise
provided herein, the Corporate Taxpayer shall have full responsibility for, and sole discretion over, all Tax matters concerning the Corporate Taxpayer and its Subsidiaries, including the preparation, filing or amending of any Tax Return and
defending, contesting or settling any issue pertaining to Taxes. Notwithstanding the foregoing, the Corporate Taxpayer shall notify the Stockholder of, and keep the Stockholder reasonably informed with respect to, the portion of any audit of the
Corporate Taxpayer and its Subsidiaries by a Taxing Authority the outcome of which is reasonably expected to materially affect the rights and obligations of the Stockholder under this Agreement, and shall provide to the Stockholder reasonable
opportunity to provide information and other input to the Corporate Taxpayer and its respective advisors concerning the conduct of any such portion of such audit. 

6.2    Consistency. The Corporate Taxpayer and the Stockholder agree to report and cause to be reported for
all purposes, including federal, state and local Tax purposes, all Tax-related items (including the use and existence of any Tax Assets and each Tax Benefit Payment) in a manner consistent with that specified
by the Corporate Taxpayer in any Schedule provided by or on behalf of the Corporate Taxpayer under this Agreement unless otherwise required by Law based on written advice of an Advisory Firm. 

6.3    Future Indebtedness. If the Corporate Taxpayer or any member of the Corporate Taxpayer Group incurs any
indebtedness after the date hereof, the Corporate Taxpayer shall, and shall cause each other member of the Corporate Taxpayer Group to, use commercially reasonable efforts to ensure that such indebtedness does not prohibit, at any time in which no
default or event of default thereunder has occurred and is continuing: (a) in the case of the Corporate Taxpayer, TRA Payments to be made in full when due, and (b) in the case of any other member of the Corporate Taxpayer Group, payments
to be made directly or indirectly to the Corporate Taxpayer to enable the Corporate Taxpayer to make TRA Payments in full when due on terms and conditions at least as favorable to the Corporate Taxpayer as those as are then market (in the good faith
determination of the Corporate Taxpayer) for indebtedness of such type. The Stockholder may, in its sole discretion, waive the requirements of this Section 6.3 in whole or in part. 

6.4    Cooperation. The Stockholder shall (a) furnish to the Corporate Taxpayer in a timely manner
any such information, documents and other materials as the Corporate Taxpayer may reasonably request for purposes of making any determination or computation necessary or appropriate under this Agreement, preparing any Tax Return or contesting or
defending any audit, examination or controversy with any Taxing Authority, (b) make itself (and its Affiliates, 

  
 20 

 
employees, representatives and other agents) available to the Corporate Taxpayer (and its Affiliates, employees, representatives and other agents) to provide explanations of documents and
materials and such other information as the Corporate Taxpayer or its representatives may reasonably request in connection with any of the matters described in clause (a) above, and (c) reasonably cooperate in connection with any such
matter. 
 ARTICLE VII 

MISCELLANEOUS 

7.1    Notices. Any notice, request, demand, waiver, consent, approval or other communication that is
required or permitted hereunder shall be in writing and shall be deemed given: (a) on the date established by the sender as having been delivered personally, (b) on the date delivered by a private courier as established by the sender by
evidence obtained from the courier, (c) on the date sent by facsimile, with confirmation of transmission, or (d) on the fifth Business Day after the date mailed, by certified or registered mail, return receipt requested, postage prepaid.
Such communications, to be valid, must be addressed as follows: 
  

	
	   If to the Corporate Taxpayer, to:

	
	     Vertiv Holdings Co

	     1050 Dearborn Drive

	     Columbus, OH 43085

	     Attention:        Colin Flannery, its General
Counsel

	
    Email:              
colin.flannery@vertiv.com

	
	   with a required copy (which shall not constitute notice) to:

	
	     Skadden, Arps, Slate, Meagher & Flom LLP

	     Four Times Square

	     New York, New York 10036

	     Attention:        Howard L. Ellin

	
                    C. Michael
Chitwood

	
    Email:             
howard.ellin@skadden.com

	
                    
michael.chitwood@skadden.com

	
	   If to the Stockholder, to:

	
	     c/o VPE Holdings, LLC

	     360 North Crescent Drive, South Bldg.

	     Beverly Hills, CA 90210

	     Attention:        Mary Ann Sigler, its
President

	
    Email:              
msigler@platinumequity.com

  
 21 

	
	   with a required copy (which shall not constitute notice) to:

	
	     Morgan, Lewis & Bockius, LLP

	     600 Anton Blvd, 18th Floor

	     Costa Mesa, CA 92626

	     Attention:        James W. Loss

	
                    Todd A.
Hentges

	
    Fax:                 
714.830.0700

	
    Email:              
jim.loss@morganlewis.com

	
                    
todd.hentges@morganlewis.com

 Any Party may change its address, fax number or e-mail by giving the
other Party written notice of its new address or fax number in the manner set forth above. 

7.2    Counterparts. This Agreement may be executed in counterparts, and any Party hereto may execute any such
counterpart, each of which when executed and delivered shall be deemed to be an original and all of which counterparts taken together shall constitute but one and the same instrument. This Agreement shall become effective when each Party shall have
received a counterpart of such document signed by the other Parties. The Parties agree that the delivery of this Agreement may be effected by means of an exchange of facsimile or electronically transmitted signatures. 

7.3    Entire Agreement; Third Party Beneficiaries. This Agreement, together with the Merger Agreement,
constitutes the entire agreement and supersedes all prior agreements and understandings, both written and oral, between the Parties with respect to the subject matter hereof. This Agreement shall be binding upon and inure solely to the benefit of
each party hereto and their respective successors and permitted assigns, and nothing in this Agreement, express or implied, is intended to or shall confer upon any other Person any right, benefit or remedy of any nature whatsoever under or by reason
of this Agreement. 
 7.4    Severability. If any provision of this Agreement is held to be illegal,
invalid or unenforceable under any present or future Law (a) such provision will be fully severable, (b) this Agreement will be construed and enforced as if such illegal, invalid or unenforceable provision had never comprised a part
hereof, (c) the remaining provisions of this Agreement will remain in full force and effect and will not be affected by the illegal, invalid or unenforceable provision or by its severance herefrom and (d) in lieu of such illegal, invalid
or unenforceable provision, there will be added automatically as a part of this Agreement a legal, valid and enforceable provision as similar in terms of such illegal, invalid or unenforceable provision as may be possible. 

7.5    Successors; Assignment; Amendments; Waivers. 

(a)    The Stockholder is freely permitted to transfer any of its rights under this Agreement (in whole or in part) without
the prior written consent of the Corporate Taxpayer or any other Person upon execution and delivery by the transferee of a joinder to this Agreement executed by the transferee, in form and substance substantially similar to Annex A to this
Agreement, in which the transferee agrees to become a “Stockholder” for all purposes of this Agreement, except as otherwise provided in such joinder. Unless otherwise indicated, references 

  
 22 

 
to the Stockholder in this Agreement include any transferee of the Stockholder that becomes a Stockholder pursuant to this Section 7.5(a) and, in the event there are
multiple Stockholders, all references to “Stockholder” shall be deemed to be references to the applicable Stockholders. 

(b)    No provision of this Agreement may be amended unless such amendment is approved in writing by the Corporate
Taxpayer and the Stockholder. No provision of this Agreement may be waived unless such waiver is in writing and signed by the party against whom the waiver is to be effective. 

(c)    All of the terms and provisions of this Agreement shall be binding upon, shall inure to the benefit of and shall be
enforceable by the Parties and their respective successors, permitted assigns, heirs, executors, administrators and legal representatives. The Corporate Taxpayer shall require and cause any direct or indirect successor (whether by purchase, merger,
consolidation or otherwise) to all or substantially all of the business or assets of the Corporate Taxpayer, by written agreement, expressly to assume and agree to perform this Agreement in the same manner and to the same extent that the Corporate
Taxpayer would be required to perform if no such succession had taken place (except to the extent expressly provided by this Agreement). 

7.6    Titles and Subtitles. The titles of the sections and subsections of this Agreement are for
convenience of reference only and are not to be considered in construing this Agreement. 
 7.7    Governing
Law. This Agreement shall be governed by and interpreted and enforced in accordance with the Laws of the State of Delaware, without giving effect to any choice of Law or conflict of Laws rules or provisions (whether of the State of
Delaware or any other jurisdiction) that would cause the application of the Laws of any jurisdiction other than the State of Delaware. 

7.8    Consent to Jurisdiction; Waiver of Jury Trial. Each Party irrevocably submits to the exclusive
jurisdiction of the Court of Chancery of the State of Delaware (unless the Federal courts have exclusive jurisdiction over the matter, in which case the United States District Court for the District of Delaware, or the Court of Chancery of the State
of Delaware does not have jurisdiction, in which case the Superior Court of the State of Delaware) for the purposes of any legal proceeding arising out of this Agreement, and agrees to commence any such legal proceeding only in such courts. Each
Party further agrees that service of any process, summons, notice or document by United States registered mail to such Party’s respective address set forth herein shall be effective service of process for any such legal proceeding. Each Party
irrevocably and unconditionally waives any objection to the laying of venue of any legal proceeding out of this Agreement in such courts, and hereby irrevocably and unconditionally waives and agrees not to plead or claim in any such court that any
such legal proceeding brought in any such court has been brought in an inconvenient forum. EACH PARTY HEREBY IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING OR COUNTERCLAIM (WHETHER AT LAW, IN EQUITY, BASED ON CONTRACT, TORT OR
OTHERWISE) ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE ACTIONS OF SUCH PARTY IN THE NEGOTIATION, ADMINISTRATION, PERFORMANCE AND ENFORCEMENT HEREOF. 

  
 23 

 7.9    Reconciliation. In the event that the Corporate
Taxpayer and the Stockholder are unable to resolve a disagreement with respect to the matters governed by ARTICLE II or ARTICLE IV within the relevant period designated in this Agreement (a
“Reconciliation Dispute”), the Reconciliation Dispute shall be submitted for determination to a nationally recognized expert (the “Expert”) in the particular area of disagreement mutually acceptable to such Parties.
The Expert shall be a partner or principal in a nationally recognized accounting or law firm, and (unless the Corporate Taxpayer and the Stockholder agree otherwise) the Expert shall not, and the firm that employs the Expert shall not, have any
material relationship with the Corporate Taxpayer or the Stockholder or their Affiliates or other actual or potential conflict of interest. If the Parties are unable to agree on an Expert within fifteen (15) calendar days of the end of the
thirty (30) calendar-day period set forth in Sections 2.2 or 4.2, the Expert shall be appointed by the International Chamber of Commerce Centre for Expertise. The Expert
shall resolve any matter relating to the Early Termination Schedule or an amendment thereto within thirty (30) calendar days and shall resolve any matter relating to a Tax Benefit Schedule or an amendment thereto within fifteen
(15) calendar days or, in each case, as soon thereafter as is reasonably practicable, in each case after the matter has been submitted to the Expert for resolution. If the matter is not resolved before any payment that is the subject of a
disagreement would be due (in the absence of such disagreement), the undisputed amount shall be paid on the date prescribed by this Agreement, subject to adjustment upon resolution. For the avoidance of doubt, this
Section 7.9 shall not restrict the ability of the Corporate Taxpayer or its Affiliates to determine when or whether to file or amend any Tax Return. The costs and expenses relating to the engagement of such Expert or
amending any Tax Return in connection with any Reconciliation Dispute shall be borne equally by the Corporate Taxpayer and the Stockholder. To the extent applicable, the Corporate Taxpayer may withhold payments under this Agreement to collect
amounts due under the preceding sentence. Any dispute as to whether a dispute is a Reconciliation Dispute within the meaning of this Section 7.9 shall be decided by the Expert. The Expert shall finally determine any
Reconciliation Dispute and the determinations of the Expert pursuant to this Section 7.9 shall be binding on the Corporate Taxpayer and the Stockholder and may be entered and enforced in any court having jurisdiction. 

7.10    Withholding. The Corporate Taxpayer shall be entitled to deduct and withhold or cause to be deducted
and withheld from any payment payable pursuant to this Agreement such amounts required to be deducted and withheld with respect to the making of such payment under the Code or any other applicable tax Law. If any such withholding is so required in
connection with any such payments, the Corporate Taxpayer shall provide written notice to Stockholder of the amounts to be deducted and withheld no later than five (5) Business Days prior to such payment. Each Party shall expend commercially
reasonable efforts to (a) avail itself of any available exemptions from, or any refunds, credits or other recovery of, any such Tax deductions and withholdings and shall cooperate with the other Parties in providing any information and
documentation (including an Internal Revenue Service Form W-9 or other applicable Form) that may be necessary to obtain such exemptions, refunds, credits or other recovery and (b) minimize the amount of
any such Tax deductions and withholdings. To the extent that amounts are so withheld, such withheld amounts shall be treated for all purposes of this Agreement as having been paid to the Person in respect of which such deduction and withholding was
made. 

  
 24 

 7.11    Corporate Taxpayer Group Matters. The provisions
of this Agreement shall be applied with respect to the Corporate Taxpayer Group as it may exist from time to time; and TRA Payments, Net Tax Benefit, Cumulative Net Realized Tax Benefit, Realized Tax Benefit or Detriment and other applicable
items hereunder shall be computed with reference to the consolidated (or combined or unitary, where applicable) taxable income, gain, loss, deduction and attributes of the Corporate Taxpayer Group as a whole. 

7.12    Confidentiality. The Stockholder (and each of its assignees, if any) acknowledges and agrees that
the information of the Corporate Taxpayer is confidential and agrees to keep and retain in the strictest confidence and not disclose to any Person any confidential matters acquired pursuant to this Agreement of the Corporate Taxpayer and its
Affiliates and successors, learned by the Stockholder heretofore or hereafter, except (i) in the course of performing any duties as necessary for the Corporate Taxpayer and its Affiliates, (ii) as required by Law, legal process, or the
rules of any stock exchange, (iii) to enforce the terms of this Agreement, or defend any litigation to which Stockholder is a party or (iv) to any acquirer or potential acquirer of the Stockholder’s rights or obligations, in whole or
in part, under this Agreement or the Merger Agreement (provided such acquirer agrees to keep such information confidential). This Section 7.12 shall not apply to (a) any information that has been made publicly
available by the Corporate Taxpayer or any of its Affiliates, becomes public knowledge (except as a result of an act of the Stockholder in violation of this Agreement) or is generally known to the business community, (b) any information
independently determined by the Stockholder or provided to the Stockholder by a third party on a non-confidential basis and (c) the disclosure of information to the extent necessary for the Stockholder to
prepare and file its Tax Returns, to respond to any inquiries regarding the same from any Taxing Authority, to provide customary reporting to its direct and indirect members and investors, or to prosecute or defend any action, proceeding or audit by
any Taxing Authority with respect to such Tax Returns. Notwithstanding anything to the contrary herein or in any other agreement, the Stockholder (and each of its assignees, if any) (and each employee, representative or other agent of the
Stockholder (or any of its assignees, as applicable)) may disclose to any and all Persons, without limitation of any kind, the tax treatment and tax structure and any related tax strategies of or relating to the Corporate Taxpayer and its
Affiliates, the Stockholder (or its assignee), and any of their transactions or agreements, and all materials of any kind (including opinions or other tax analyses) that are provided to the Stockholder (or its assignee) relating to such tax
treatment and tax structure and any related tax strategies. 
 If the Stockholder commits a breach, or threatens to commit a breach, of any
of the provisions of this Section 7.12, the Corporate Taxpayer and its Affiliates shall have the right and remedy to have the provisions of this Section 7.12 specifically enforced by injunctive
relief or otherwise by any court of competent jurisdiction without the need to post any bond or other security, it being acknowledged and agreed that any such breach or threatened breach shall cause irreparable injury to the Corporate Taxpayer or
its Affiliates and the accounts and funds managed by the Corporate Taxpayer and that money damages alone shall not provide an adequate remedy to such Persons. Such rights and remedies shall be in addition to, and not in lieu of, any other rights and
remedies available at law or in equity. 
 7.13    Change in Law. Notwithstanding anything herein
to the contrary, if, in connection with an actual or proposed change in Law, the Stockholder reasonably believes that the existence of this Agreement could have material adverse tax consequences to the Stockholder (or its direct or indirect owners),
then at the election of such Stockholder and the receipt by the 

  
 25 

 
Stockholder of the written consent of the Corporate Taxpayer (such consent not to be unreasonably withheld, conditioned or delayed) and to the extent specified by the Stockholder, this Agreement
shall cease to have further effect with respect to the Stockholder. 
 [Signature page follows] 

  
 26 

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

			
	CORPORATE TAXPAYER:
	
	VERTIV HOLDING CO
		
	By:	 	 /s/ Rob Johnson

	Name:	 	Rob Johnson
	Title:	 	Chief Executive Officer
	
	STOCKHOLDER:
	
	VPE HOLDINGS, LLC
		
	By:	 	 /s/ Mary Ann Sigler

	Name:	 	Mary Ann Sigler
	Title:	 	President

 [Signature Page to Tax Receivable Agreement] 

 ANNEX A 

Form of Joinder to the Tax Receivable Agreement 

This JOINDER (this “Joinder”) to the Tax Receivable Agreement (as defined below), dated as of [●], by and between
Vertiv Holding Co, a Delaware corporation (the “Corporate Taxpayer”), and [●] (the “Permitted Transferee”). 

WHEREAS, on [●], the Permitted Transferee acquired (the “Acquisition”) from [●] (the
“Transferor”) the right to receive any and all payments that may become due and payable to the Transferor under the Tax Receivable Agreement (as defined below); and 

WHEREAS, the Transferor, in connection with the Acquisition, has required the Permitted Transferee to execute and deliver this Joinder
pursuant to Section 7.5 of the Tax Receivable Agreement, dated as of February 7, 2020, by and between the Corporate Taxpayer, the Stockholder (as defined therein) (the “Tax Receivable Agreement”). 

NOW, THEREFORE, in consideration of the foregoing and the respective covenants and agreements set forth herein and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound, the Permitted Transferee hereby agrees as follows: 

Section 1.1. Definitions. To the extent capitalized words used in this Joinder are not defined n this Joinder, such words have the
respective meanings set forth in the Tax Receivable Agreement. 
 Section 1.2. Joinder. The Permitted Transferee hereby
acknowledges and agrees to become a “Stockholder” (as defined in the Tax Receivable Agreement) for all purposes of the Tax Receivable Agreement. 

Section 1.3. Notice. Any notice, request, consent, claim, demand, approval, waiver or other communication hereunder to the
Permitted Transferee shall be delivered or sent to the Permitted Transferee at the address set forth on the signature page hereto in accordance with Section 7.1 of the Tax Receivable Agreement. 

Section 1.4. Governing Law. This Joinder shall be governed by and interpreted and enforced in accordance with the Laws of the
State of Delaware, without giving effect to any choice of Law or conflict of Laws rules or provisions (whether of the State of Delaware or any other jurisdiction) that would cause the application of the Laws of any jurisdiction other than the State
of Delaware. 
 [Signature page follows] 

 IN WITNESS WHEREOF, the undersigned have duly executed this Joinder as of the date first
above written. 
  

			
	CORPORATE TAXPAYER:

 
			
	
	VERTIV HOLDING CO

 
			
		
	By:	 	  

	Name:	 	
	Title:	 	

 
			
	
	PERMITTED TRANSFEREE:

 
			
		
	[●]	 	

 
			
		
	By:	 	  

	Name:	 	
	Title:	 	

 [Signature Page to Joinder to Tax Receivable Agreement]EX-10.5

 Exhibit 10.5 

2020 STOCK INCENTIVE PLAN 

OF 
 VERTIV HOLDINGS CO

 AND ITS AFFILIATES 

ARTICLE I 
 ESTABLISHMENT
AND PURPOSE 
 1.1 Purpose. The purpose of this 2020 Stock Incentive Plan of Vertiv Holdings Co and its Affiliates (the
“Plan”) is to enable the Company to achieve superior financial performance, as reflected in the performance of its Common Stock and other key financial or operating indicators by (a) providing incentives and rewards to
certain Employees who are in a position to contribute materially to the success and long-term objectives of the Company, (b) aiding in the recruitment and retention of Employees of exceptional ability, (c) providing Employees an
opportunity to acquire or expand equity interests in the Company, and (d) promoting the growth and success of the Company’s business by aligning the financial interests of Employees with that of the other stockholders of the Company.
Towards these objectives, the Plan provides for the grant of Stock Options, Stock Appreciation Rights, Performance Awards, Restricted Stock Units, Restricted Stock, Other Stock-Based Awards, and Cash-Based Awards. 

1.2 Effective Date; Stockholder Approval. The Plan is effective as of February 7, 2020 (the “Effective
Date”), subject to the approval of the Plan by the Company’s stockholders. 
 ARTICLE II 

DEFINITIONS 
 For purposes
of the Plan, the following terms have the following meanings: 
 2.1 “1933 Act” means the
Securities Act of 1933, as amended. 
 2.2 “Affiliate” means (a) any subsidiary of the Company of which at
least 50 percent of the aggregate outstanding voting common stock or capital stock is owned directly or indirectly by the Company, (b) any other parent of a subsidiary described in clause (a), or (c) any other entity in which the
Company has a substantial ownership interest and which has been designated as an Affiliate by the Committee in its sole discretion. 
 2.3
“Assumed” means that pursuant to a Corporate Transaction either (i) the Award is expressly affirmed by the Company or (ii) the contractual obligations represented by the Award are
expressly assumed (and not simply by operation of law) by the successor entity or its parent in connection with the Corporate Transaction with appropriate adjustments to the number and type of securities of the successor entity or its parent subject
to the Award and the exercise or purchase price thereof which at least preserves the compensation element of the Award existing at the time of the Corporate Transaction as determined in accordance with the instruments evidencing the agreement to
assume the Award. 

 2.4 “Award” means any form of incentive
or performance award granted under the Plan, whether singly or in combination, to a Participant by the Committee pursuant to any terms and conditions that the Committee may establish and set forth in the applicable Award Agreement. Awards granted
under the Plan may consist of: (a) “Stock Options” awarded pursuant to Section 4.3; (b) “Stock Appreciation Rights” awarded pursuant to Section 4.3; (c)
“Performance Awards” awarded pursuant to Section 4.4; (d) “Restricted Stock Units” awarded pursuant to Section 4.5; (e) “Restricted
Stock” awarded pursuant to Section 4.5; and (f) “Other Stock-Based Awards” awarded pursuant to Section 4.6. 

2.5 “Award Agreement” means the document issued, either in writing or an electronic medium, to a Participant
evidencing the grant of an Award. 
 2.6 “Board” means the Board of Directors of the
Company. 
 2.7 “Cash-Based Award” means a Performance Award other than a Stock Option, Stock Appreciation Right,
Restricted Stock Units, Restricted Stock, or Other Stock-Based Award. 
 2.8 “Cause” has the meaning set forth in an
employment agreement or other similar agreement applicable to the Participant at the relevant Termination of Employment or, if the Participant is not covered under such an agreement, means any of the following: (i) clear evidence of a
significant violation of the Company’s Code of Business Conduct; (ii) a fraud committed against Vertiv Holdings Co; (iii) the misappropriation, embezzlement or reckless or willful destruction of Company property; (iv) the willful
failure to perform, or gross negligence in the performance of, duties; (v) the conviction (treating a nolo contendere plea as a conviction) of a felony (whether or not any right to appeal has been or may be exercised); (vi) the knowing
falsification of any records or documents of the Company; (vii) a significant breach of any statutory or common law duty of loyalty to the Company; (viii) intentional and improper conduct significantly prejudicial to the business of the
Company; (ix) the failure to cooperate fully in a Company investigation or the failure to be fully truthful when providing evidence or testimony in such investigation; or (x) the violation of Company rules and policies that, based on a
single occurrence, might not meet the significance thresholds of (i), (vii) or (viii) above, but that shall, for purposes of such significance thresholds, be deemed to constitute a violation thereof in the event any such violation occurs more
than once. Cause shall be determined by the Committee for Reporting Persons or by the Company for all other Participants, in its sole and absolute discretion. 

2.9 “Change in Control” means (a) any one person, or more than one person acting as a group (as defined under
U.S. Department of Treasury Regulation (“Treasury Regulation”) § 1.409A-3(i)(5)(v)(B)) acquires ownership of stock of the Company that, together with stock held by such person
or group, constitutes more than 50 percent of the total fair market value or total voting power of the stock of the Company; or (b) any one person, or more than one person acting as a group (as defined under Treasury Regulation § 1.409A-3(i)(5)(v)(B)) acquires (or has acquired during the 12-month period ending on the date of the most recent acquisition by such person or persons) ownership
of stock of the Company possessing 30 percent or more of the total voting power of the stock of the Company; or (c) a majority of members of the Board is replaced during any 12-month period by
directors whose appointment or election is not endorsed by a majority of the members of the Board before the date of the appointment or election; or (d) any 

  
 2 

 
one person, or more than one person acting as a group (as defined in Treasury Regulation § 1.409A-3(i)(5)(v)(B)) acquires (or has acquired during
the 12-month period ending on the date of the most recent acquisition by such person or persons) assets from the Company and its subsidiaries on a consolidated basis that have a total gross fair market value
equal to or more than 40 percent of the total gross fair market value of all of the assets of the Company and its subsidiaries on a consolidated basis immediately before such acquisition or acquisitions. For purposes of clause (d), “gross
fair market value” means the value of the assets of the Company and its subsidiaries on a consolidated basis, or the value of the assets being disposed of, determined without regard to any liabilities associated with such assets. The foregoing
clauses (a) through (d) shall be interpreted in a manner that is consistent with the Treasury Regulations promulgated pursuant to Section 409A of the Code so that all, and only, such transactions or events that could qualify as a
“change in control event” within the meaning of Treasury Regulation § 1.409A-3(i)(5)(i) shall be deemed to be a Change in Control for purposes of this Plan. 

2.10 “Code” means the Internal Revenue Code of 1986, as amended. 

2.11 “Committee” means the Compensation Committee of the Board or any successor committee or subcommittee of the Board
or other committee or subcommittee designated by the Board, which committee or subcommittee is composed solely of two or more persons who are Non-Employee Directors within the meaning of Rule 16b-3(b)(3) under the Exchange Act. 
 2.12 “Common Stock” means the common stock
of the Company. 
 2.13 “Corporate Transaction” means any of the following transactions, provided, however that the
Committee shall determine under parts (iv) and (v) whether multiple transactions are related, and its determination shall be final, binding and conclusive 
  

	 	(i)	 a merger or consolidation in which the Company is not the surviving entity, except for a transaction the
principal purpose of which is to change the state in which the Company is incorporated; 

  

	 	(ii)	 the sale, transfer or other disposition of all or substantially all of the assets of the Company;

  

	 	(iii)	 the complete liquidation or dissolution of the Company; 

 

	 	(iv)	 any reverse merger or series of related transactions culminating in a reverse merger (including, but not
limited to, a tender offer followed by a reverse merger) in which the Company is the surviving entity but (A) the shares of Common Stock outstanding immediately prior to such merger are converted or exchanged by virtue of the merger into other
property, whether in the form of securities, cash or otherwise, or (B) in which securities possessing more than fifty percent (50%) of the total combined voting power of the Company’s outstanding securities immediately prior to such merger
or the initial transaction culminating in such merger, but excluding any such transaction or series of related transactions that the Committee determines shall not be a Corporate Transaction; or 

  
 3 

	 	(v)	 acquisition in a single or series of related transactions by any person or related group of persons (other than
the Company or by a Company-sponsored employee benefit plan) of beneficial ownership (within the meaning of Rule 13d-3 of the Exchange Act) of securities possessing more than fifty percent (50%) of the total
combined voting power of the Company’s outstanding securities but excluding any such transaction or series of related transactions that the Committee determines shall not be a Corporate Transaction. 

2.14 “Company” means Vertiv Holdings Co. 

2.15 “Disabled” and “Disability”, with respect to a Participant, have the meanings assigned to
such terms under the long-term disability plan maintained by the Company or an Affiliate in which such Participant is covered at the time the determination is made, and if there is no such plan, mean the permanent inability as a result of accident
or sickness to perform any and every duty pertaining to such Participant’s occupation or employment for which the Participant is suited by reason of the Participant’s previous training, education and experience; provided, that, to the
extent an award subject to Section 409A of the Code shall become payable upon a Participant’s Disability, a Disability shall not be deemed to have occurred for such purposes unless the circumstances would also result in a
“disability” within the meaning of Section 409A of the Code. 
 2.16 “Dividend
Equivalent” means an amount equal to the cash dividend or the Fair Market Value of the stock dividend that would be paid on each Share underlying an Award if the Share were duly issued and outstanding on the date on which
the dividend is payable. 
 2.17 “Employee” means any individual who performs services as an employee or consultant
of the Company or an Affiliate, or a member of the Board or the board of an Affiliate (whether or not the member is an employee). For purposes of this Plan, “Employee” does not include any leased employees. 

2.18 “Exchange Act” means the Securities Exchange Act of 1934, as amended. 

2.19 “Exercise Price” means the price of a Share, as fixed by the Committee, that may be purchased under a Stock
Option or with respect to which the amount of any payment pursuant to a Stock Appreciation Right is determined. 
 2.20 “Fair
Market Value” means, as of any date, the value of Common Stock determined as follows: 
  

	 	(i)	 If the Common Stock is listed on one or more established stock exchanges or national market systems, including
without limitation the New York Stock Exchange, The NASDAQ Global Select Market, The NASDAQ Global Market or The NASDAQ Capital Market of The NASDAQ Stock Market LLC, its Fair Market Value shall be the closing sales price for a Share (or the closing
bid, if no sales were reported) as quoted on the principal exchange or system on which the Common Stock is listed (as determined by the Committee) on the date of determination (or, if no closing sales price or closing bid was reported on that date,
as applicable, on the last trading date such closing sales price or closing bid was reported), as reported in The Wall Street Journal or such other source as the Committee deems reliable; 

  
 4 

	 	(ii)	 If the Common Stock is regularly quoted on an automated quotation system (including the OTC Bulletin Board) or
by a recognized securities dealer, its Fair Market Value shall be the closing sales price for a Share as quoted on such system or by such securities dealer on the date of determination, but if selling prices are not reported, the Fair Market Value
of a Share shall be the mean between the high bid and low asked prices for the Common Stock on the date of determination (or, if no such prices were reported on that date, on the last date such prices were reported), as reported in The Wall Street
Journal or such other sources as the Committee deems reliable; or 

  

	 	(iii)	 In the absence of an established market for the Common Stock of the type described in (i) and (ii), above,
the Fair Market Value thereof shall be determined by the Committee in good faith and in a manner consistent with applicable laws. 

2.21 “GAAP” means U.S. generally accepted accounting principles. 

2.22 “Incentive Stock Option” means a Stock Option granted under Section 4.3 of the
Plan that meets the requirements of Section 422 of the Code and any related regulations and is designated in the Award Agreement to be an Incentive Stock Option. 

2.23 “Non-Employee Director” means any member of the Board, elected or
appointed, who is not an Employee of the Company or an Affiliate. An individual who is elected to the Board at an annual meeting of the stockholders of the Company shall be deemed to be a member of the Board as of the date of the meeting. 

2.24 “Nonqualified Stock Option” means any Stock Option granted under Section 4.3 of the Plan that is not an
Incentive Stock Option. 
 2.25 Other Stock-Based Award” means an Award granted under Section 4.6 and denominated in
Shares. 
 2.26 “Participant” means an Employee who has been granted an Award under the Plan. 

2.27 “Performance Award” means an Award granted under Section 4.4 of the Plan, the payment of which is
conditioned on the attainment of one or more Performance Measures. 
 2.28 “Performance Cycle” means, with respect
to any Award that vests or is earned based on Performance Measures, a period (or periods) of at least one year, unless otherwise specified by the Committee, over which the level of attainment of performance of a Performance Measure shall be
determined. 
 2.29 “Performance Measure” means, with respect to any Performance Award, the business criteria
selected by the Committee to measure the level of performance of the Company and/or a business unit, segment, division, or subsidiary of the Company or an Affiliate during the Performance Cycle. Performance Measures may be defined and measured
before or after taking 

  
 5 

 
into consideration taxes, interest, depreciation, amortization, pension-related expense or income, and/or any pension mark to market adjustment, the determination of which shall be at the
discretion of the Committee. In determining attainment of Performance Measures, the Committee may exclude unusual or infrequently occurring items, extraordinary items and the cumulative effect of changes in accounting treatment, and may determine no
later than ninety (90) days after the commencement of any applicable Performance Cycle to exclude other items, such as changes in foreign currency exchange rates, the impact of acquisitions or divestitures, discontinued operations, and charges
for restructurings (employee severance liabilities, asset impairment costs, and exit costs), each determined in accordance with GAAP (to the extent applicable) and as identified in the financial statements, notes to the financial statements or
discussion and analysis of management. 
 2.30 “Replaced” means that pursuant to a Corporate Transaction the Award
is replaced with a comparable stock award or a cash incentive program of the Company, the successor entity (if applicable) or parent of either of them which preserves the compensation element of such Award existing at the time of the Corporate
Transaction and provides for subsequent payout in accordance with the same (or a more favorable) vesting schedule applicable to such Award. The determination of Award comparability shall be made by the Committee and its determination shall be final,
binding and conclusive. 
 2.31 “Reporting Person” means an Employee who is subject to the
reporting requirements of Section 16(a) the Exchange Act. 
 2.32 “Restricted Stock” means Shares issued
pursuant to Section 4.5 that are subject to any restrictions that the Committee, in its discretion, may impose. 
 2.33
“Restricted Stock Unit” means a Unit granted under Section 4.5 to acquire Shares or an equivalent amount in cash, which Unit is subject to any restrictions that the Committee, in its discretion, may impose. 

2.34 “Share” means a share of Common Stock. 

2.35 “Stock Appreciation Right” means a right granted under Section 4.3 to an amount in cash or Shares equal to
any increase in the Fair Market Value of the Shares between the date on which the Stock Appreciation Right is granted and the date on which the right is exercised. 

2.36 “ 
 2.37
“Stock Option” means a right granted under Section 4.3 to purchase from the Company a stated number of Shares at a specified price that is equal to or greater than the Fair Market Value of a Share
on the date of grant, subject to adjustment as provided in Section 5.3. Stock Options awarded under the Plan may be in the form of Incentive Stock Options or Nonqualified Stock Options. 

2.38 “Termination of Employment” means the date of cessation of an Employee’s employment or service relationship
with the Company and its Affiliates for any reason, with or without Cause, as determined by the Company. Except as otherwise provided in an Award Agreement, (a) termination of employment shall be determined without regard to statutory or

  
 6 

 
contractual notice periods for termination of employment, dismissal, redundancy, and similar events, and (b) if an Employee’s employment is terminated under circumstances that entitle
the Employee to severance benefits pursuant to any applicable severance plan of the Company or an Affiliate in which the Employee participates, the Employee’s employment relationship with the Company and its Affiliates shall cease on the day
prior to the date that severance benefits become payable under the terms of the applicable severance plan without regard to any delay in payment required by Section 409A of the Code. Notwithstanding the foregoing, (x) if an Affiliate
ceases to be an Affiliate while an Award granted to an Employee of that Affiliate is outstanding, the Committee may, in its discretion, deem such Employee to have a Termination of Employment on the date the Affiliate ceases to be an Affiliate or on
a later date specified by the Committee; (y) the Committee shall make any determination described in clause (x) before or not more than a reasonable period after the date the Affiliate ceases to be an Affiliate; and (z) each such
Employee’s Termination of Employment shall be treated as an involuntary termination not for Cause. For purposes of clarification, any non-qualified deferred compensation (within the meaning of
Section 409A of the Code) payable to the Employee upon a Termination of Employment pursuant to the terms and conditions of this Plan shall be paid to the Employee upon a “separation from service”, as determined in accordance with
Section 409A of the Code. 
 2.39 “Unit” means the potential right to acquire one
Share pursuant to a Restricted Stock Unit grant. 
 ARTICLE III 

ADMINISTRATION 
 3.1
The Committee. The Plan shall be administered by the Committee. 
 3.2 Authority of the Committee. The Committee
shall have authority, in its sole and absolute discretion and subject to the terms of the Plan, to (a) interpret the Plan; (b) prescribe the rules and regulations that it deems necessary for the proper operation and administration of the
Plan, and amend or rescind any existing rules or regulations relating to the Plan; (c) select Employees to receive Awards under the Plan; (d) determine the form of Awards, the number of Shares subject to each Award, all the terms and
conditions of an Award including, without limitation, the conditions on exercise or vesting, the designation of Stock Options as Incentive Stock Options or Nonqualified Stock Options and the terms of Award Agreements; (e) determine whether
Awards shall be granted singly, in combination or in tandem; (f) establish and administer Performance Measures in connection with Performance Awards, and certify the level of performance attained with respect to Performance Measures;
(g) waive or amend any terms, conditions, restrictions or limitations on an Award, (h) in accordance with Article V, make any adjustments to the Plan (including but not limited to adjustment of the number of Shares available under the Plan
or any Award) and any Award granted under the Plan that may be appropriate; (i) provide for the deferred payment of Awards and the extent to which payment shall be credited with Dividend Equivalents; (j) determine whether Awards may be
transferable to family members, a family trust, a family partnership or otherwise; (k) establish any provisions that the Committee may determine to be necessary in order to implement and administer the Plan in foreign countries; and
(l) take any and all other actions it deems necessary or advisable for the proper operation or administration of the Plan. 

  
 7 

 3.3 Effect of Determinations. All determinations of the Committee shall be
final, binding and conclusive on all persons having an interest in the Plan. 
 3.4 Delegation of Authority. The Committee, in
its discretion and consistent with applicable law and regulations, may delegate its authority and duties under the Plan to the Chief Executive Officer of the Company or any other individual or committee as it deems to be advisable, under any
conditions and subject to any limitations that the Committee may establish. Only the Committee, however, shall have authority to grant and administer Awards to Reporting Persons and any delegate of the Committee, and to establish and certify
Performance Measures. 
 3.5 Employment of Advisors. The Committee may employ attorneys, consultants, accountants and other
advisors, and the Committee, the Company, and the officers and directors of the Company may rely upon the advice, opinions or valuations of the advisors employed. 

3.6 No Liability. No member of the Committee, nor any person acting as a delegate of the Committee with respect to the Plan,
shall be liable for any losses resulting from any action, interpretation or construction made in good faith with respect to the Plan or any Award granted under the Plan. 

ARTICLE IV 
 AWARDS

 4.1 Eligibility. All Employees are eligible to receive Awards granted under the Plan, except as otherwise provided in
this Article IV. 
 4.2 Form of Awards. Awards shall be in the form determined by the Committee, in its discretion, and shall
be evidenced by an Award Agreement. Awards may be granted singly or in combination or in tandem with other Awards. 
 4.3 Stock
Options and Stock Appreciation Rights. The Committee may grant Stock Options and Stock Appreciation Rights under the Plan to those Employees whom the Committee may from time to time select, in the amounts and pursuant to the other terms and
conditions that the Committee, in its discretion, may determine and set forth in the Award Agreement, subject to the provisions below: 
  

	 	(a)	 Form. Stock Options granted under the Plan shall, at the discretion of the Committee and as set forth in
the Award Agreement, be in the form of Incentive Stock Options, Nonqualified Stock Options, or a combination of the two. If an Incentive Stock Option and a Nonqualified Stock Option are granted to the same Participant under the Plan at the same
time, the form of each shall be clearly identified, and they shall be deemed to have been granted in separate grants. In no event shall the exercise of one Award affect the right to exercise the other Award. Stock Appreciation Rights may be granted
either alone or in connection with concurrently or previously issued Nonqualified Stock Options. 

  
 8 

	 	(b)	 Exercise Price. The Committee shall set the Exercise Price of Stock Options or Stock Appreciation Rights
granted under the Plan at a price that is equal to or greater than the Fair Market Value of a Share on the date of grant, subject to adjustment as provided in Section 5.3. The Exercise Price of Incentive Stock Options, however, shall be equal
to or greater than 110 percent of the Fair Market Value of a Share on the date of grant if the Participant receiving the Stock Options owns stock possessing more than 10 percent of the total combined voting power of all classes of stock of
the Company or of any subsidiary or parent corporation of the Company, as defined in Section 424 of the Code. The Exercise Price of a Stock Appreciation Right granted in tandem with a Stock Option shall be equal to the Exercise Price of the
related Stock Option. The Exercise Price of a Stock Option or Stock Appreciation Right shall be set forth in the Award Agreement. 

  

	 	(c)	 Term and Timing of Exercise. Stock Options and Stock Appreciation Rights shall lapse not later than 10
years after the date of grant, as determined by the Committee at the time of grant. Except as otherwise provided in an Award Agreement, each Stock Option or Stock Appreciation Right granted under the Plan shall be exercisable in whole or in part,
subject to the following conditions: 

  

	 	(i)	 The date on which any Award of Stock Options or Stock Appreciation Rights to a Participant may first be
exercised shall be set forth in the Award Agreement; 

  

	 	(ii)	 A Stock Appreciation Right granted in tandem with a Stock Option shall be subject to the same terms and
conditions as the related Stock Option and shall be exercisable only to the extent that the related Stock Option is exercisable; and 

  

	 	(iii)	 Stock Options and Stock Appreciation Rights of a deceased Participant may be exercised only by the estate of
the Participant or by the person given authority to exercise the Stock Options or Stock Appreciation Rights by the Participant’s will or by operation of law. If a Stock Option or Stock Appreciation Right is exercised by the executor or
administrator of a deceased Participant, or by the person or persons to whom the Stock Option or Stock Appreciation Right has been transferred by the Participant’s will or the applicable laws of descent and distribution, the Company shall be
under no obligation to deliver Shares or cash until the Company is satisfied that the person exercising the Stock Option or Stock Appreciation Right is the duly appointed executor or administrator of the deceased Participant or the person to whom
the Stock Option or Stock Appreciation Right has been transferred by the Participant’s will or by applicable laws of descent and distribution. 

  

	 	(d)	 Payment of Exercise Price. The Exercise Price of a Stock Option must be paid in full when the Stock
Option is exercised. Stock certificates shall be registered and delivered only upon receipt of payment. Payment of the Exercise Price may be made in cash or by certified check, bank draft, wire transfer, or postal or express money order. No portion
of the Exercise Price of a Stock Option may be paid from the proceeds of a loan of cash from the Company to the Participant. In addition, unless the Committee determines otherwise, payment of all or a portion of the Exercise Price may be made by:

  

	 	(i)	 Delivering a properly executed exercise notice to the Company or its agent, together with irrevocable
instructions to a broker to deliver promptly to the Company the amount of sale proceeds with respect to the portion of the Shares to be acquired having a Fair Market Value on the date of exercise equal to the sum of the applicable portion of the
Exercise Price being so paid; or 

  
 9 

	 	(ii)	 Tendering (actually or by attestation) to the Company previously acquired Shares that have been held by the
Participant for at least six months, subject to paragraph (d)(v), and that have a Fair Market Value on the day prior to the date of exercise equal to the applicable portion of the Exercise Price being so paid; or 

 

	 	(iii)	 Instructing the Company to withhold Shares that would otherwise be issued having a Fair Market Value on the
date of exercise equal to the applicable portion of the Exercise Price being so paid (provided such withholding has been expressly authorized by the Committee); or 

 

	 	(iv)	 Any combination of the methods described in paragraphs (i), (ii), and (iii). 

 

	 	(v)	 The Committee, in consideration of applicable accounting standards, may waive any holding period on Shares
required to tender pursuant to paragraph (d)(ii) or prohibit withholding pursuant to paragraph (d)(iii). 

  

	 	(e)	 Incentive Stock Options. Incentive Stock Options granted under the Plan shall be subject to the
following additional conditions, limitations, and restrictions: 

  

	 	(i)	 Eligibility. Incentive Stock Options may be granted only to Employees of the Company or an Affiliate
that is a subsidiary or parent corporation of the Company, within the meaning of Section 424 of the Code. 

  

	 	(ii)	 Timing of Grant. No Incentive Stock Option shall be granted under the Plan after the 10-year anniversary
of the date on which the Plan is adopted by the Board or, if earlier, the date on which the Plan is approved by the Company’s stockholders. 

  

	 	(iii)	 Amount of Award. The aggregate Fair Market Value as of the date of grant of the Shares with respect to
which the Incentive Stock Options awarded to any Participant first become exercisable during any calendar year may not exceed $100,000. For purposes of this $100,000 limit, the Participant’s Incentive Stock Options under this Plan and all other
plans maintained by the Company and its Affiliates shall be aggregated. To the extent any Incentive Stock Option would exceed the $100,000 limit, the Incentive Stock Option shall afterwards be treated as a Nonqualified Stock Option for all purposes.

  

	 	(iv)	 Timing of Exercise. If the Committee exercises its discretion in the Award Agreement to permit an
Incentive Stock Option to be exercised by a Participant more than three months after the Participant has ceased being an Employee (or more than 12 months if the Participant is permanently and totally disabled, within the meaning of Section 22(e) of
the Code), the Incentive Stock Option shall afterwards be treated as a Nonqualified Stock Option for all purposes. For 

  
 10 

	 	
purposes of this paragraph (e)(iv), an Employee’s employment relationship shall be treated as continuing intact while the Employee is on military leave, sick leave, or another approved leave
of absence if the period of leave does not exceed 90 days, or a longer period to the extent that the Employee’s right to reemployment with the Company or an Affiliate is guaranteed by statute or by contract. Where the period of leave exceeds 90
days and the Employee’s right to reemployment is not guaranteed by statute or contract, the employment relationship shall be deemed to have ceased on the 91st day of the leave. 

 

	 	(v)	 Transfer Restrictions. In no event shall the Committee permit an Incentive Stock Option to be
transferred by a Participant other than by will or the laws of descent and distribution, and any Incentive Stock Option awarded under this Plan shall be exercisable only by the Participant during the Participant’s lifetime.

  

	 	(f)	 Exercise of Stock Appreciation Rights. Upon exercise, Stock Appreciation Rights may be redeemed for cash
or Shares or a combination of cash and Shares, in the discretion of the Committee, and as described in the Award Agreement. Cash payments shall be equal to the excess of the Fair Market Value of a Share on the date of exercise over the Exercise
Price for each Share for which a Stock Appreciation Rights was exercised. If the Stock Appreciation Right is redeemed for Shares, the Participant shall receive a number of whole Shares equal to the quotient of the cash payment amount divided by the
Fair Market Value of a Share on the date of exercise. 

  

	 	(g)	 Certain Prohibitions. The following terms or actions shall not be permitted with respect to any Award of
Stock Options or Stock Appreciation Rights: 

  

	 	(i)	 No Dividend Equivalents. The Committee shall not provide for the payment of Dividend Equivalents with
respect to Stock Options or Stock Appreciation Rights. 

  

	 	(ii)	 No Reload Options. The Committee shall not grant Stock Options or Stock Appreciation Rights that have
reload features under which the exercise of a Stock Option or Stock Appreciation Right by a Participant automatically entitles the Participant to a new Stock Option or Stock Appreciation Right. 

 

	 	(iii)	 No Additional Deferral Features. The Committee shall not grant Stock Options or Stock Appreciation
Rights that have “additional deferral features” as described in Section 409A of the Code, thereby subjecting the Stock Option or Stock Appreciation Right to the requirements of Section 409A. 

4.4 Performance Awards. The Committee may grant Performance Awards to the Employees that the Committee may from time to time
select, pursuant to the terms and conditions that the Committee may determine and set forth in the Award Agreement, subject to the provisions below: 
  

	 	(a)	 Performance Cycles. Performance Awards shall be awarded in connection with a Performance Cycle
determined by the Committee. 

  
 11 

	 	(b)	 Performance Measures; Targets; Award Criteria. The Committee may, in its discretion, select Performance
Measures that measure the level of performance of the Company and/or a business unit, segment, division, or subsidiary of the Company or an Affiliate during the Performance Cycle. The Committee may select Performance Measures for a Performance Cycle
any one or combination of the Performance Measures, separately or in relation to each other, or relative to a selected comparator group, as interpreted by the Committee, which (to the extent applicable) shall be determined in accordance with GAAP.

  

	 	(c)	 Form of Payment. Performance Awards may be paid in cash or whole Shares, or a combination of cash and
Shares, in the discretion of the Committee, subject to the terms and conditions set forth in the Award Agreement. Payment with respect to any fractional Share shall be determined in accordance with Section 5.5. 

4.5 Restricted Stock Units and Restricted Stock. The Committee may grant Restricted Stock Units and Restricted Stock under the
Plan to those Employees whom the Committee may from time to time select, pursuant to the terms and conditions that the Committee, in its discretion, may determine and set forth in the Award Agreement, subject to the provisions below: 

 

	 	(a)	 Grant of Restricted Stock Units. The Committee may grant Restricted Stock Units to any Employee, which
Units are denominated in, payable in, valued, in whole or in part by reference to, or otherwise related to, Shares. The Committee shall determine, in its discretion, the terms and conditions that apply to Restricted Stock Units granted pursuant to
this Section 4.5, including whether and how Dividend Equivalents shall be credited with respect to any Award. The terms and conditions of the Restricted Stock Units shall be set forth in the applicable Award Agreement. 

 

	 	(b)	 Grant of Restricted Stock. As soon as practicable after Restricted Stock has been granted, certificates
for all Shares of Restricted Stock shall be registered in the name of the Participant and held for the Participant by the Company. The Participant shall have all rights of a stockholder with respect to the Shares, including the right to vote and to
receive dividends or other distributions, except that the Shares may be subject to a vesting schedule and forfeiture and, except as otherwise provided in Section 7.1, may not be sold, transferred, assigned, pledged or otherwise encumbered or
disposed until the restrictions are satisfied or lapse. 

  

	 	(c)	 Dividends and Dividend Equivalents. At the discretion of the Committee and as described in the Award
Agreement, dividends issued on Shares of Restricted Stock may be paid immediately or withheld and deferred in the Participant’s account. In the event of a payment of dividends on Common Stock, to the extent permissible under Section 409A
of the Code, the Committee may credit Restricted Stock Units with Dividend Equivalents. Except as otherwise described in the Award Agreement or determined by the Committee, Dividend Equivalents may be withheld and deferred in the Participant’s
account subject to a vesting schedule, or used to credit additional Restricted Stock Units that vest on the same schedule as the underlying Restricted Stock Units. The Committee shall determine any terms and conditions on deferral of Dividend
Equivalents. 

  
 12 

	 	(d)	 Vesting and Forfeiture. The Committee may, in its discretion and as set forth in the Award Agreement,
impose any restrictions on Restricted Stock Units and/or their related Dividend Equivalents or Restricted Stock that it deems to be appropriate. Except as otherwise provided in an Award Agreement, the Restricted Stock Units, related Dividend
Equivalents and Restricted Stock shall be subject to the following restrictions: 

  

	 	(i)	 Vesting and Forfeiture. Except for Restricted Stock Units and Restricted Stock granted as Performance
Awards and except as provided in subsection 5.1(b), restrictions on Restricted Stock Units and Restricted Stock shall vest in full, at the discretion of the Committee, over a period of not less than three years from the date of grant
provided, that this requirement shall not apply to: (i) Restricted Stock Units and Restricted Stock granted to Non-Employee Directors; (ii) Restricted Stock Units and Restricted Stock
for which the vesting schedule is accelerated in connection with a Participant’s Termination of Employment; (iii) Restricted Stock Units and Restricted Stock for which the vesting schedule is accelerated in connection with a
Corporate Transaction; and (iv) Restricted Stock Units and Restricted Stock of up to 5 million Shares, generally. Subject to Section 5.4, if the restrictions have not lapsed or been satisfied as of the
Participant’s Termination of Employment, the Restricted Stock Units or Restricted Stock shall be forfeited by the Participant if the termination is for any reason other than death or Disability. 

 

	 	(ii)	 Legend. To enforce any restrictions that the Committee may impose on Restricted Stock, the Committee
shall cause a legend referring to the restrictions to be placed on all certificates for Shares of Restricted Stock. When restrictions lapse or are satisfied, a new certificate, without the legend, for the number of Shares with respect to which
restrictions have lapsed or been satisfied shall be issued and delivered to the Participant. 

  

	 	(e)	 Redemption of Restricted Stock Units. Restricted Stock Units may be redeemed for cash or whole Shares,
or a combination of cash and Shares, in the discretion of the Committee, when the restrictions lapse and any other conditions set forth in the Award Agreement have been satisfied provided that with respect to any Restricted Stock Units subject to
Section 409A of the Code such redemption shall occur in a manner that complies with Section 409A of the Code. Each Restricted Stock Unit may be redeemed for one Share or an amount in cash equal to the Fair Market Value of a Share as of the
date on which the Restricted Stock Unit vests. 

  

	 	(f)	 Deferred Units. To the extent determined by the Committee, Participants may be permitted to request the
deferral of payment of vested Restricted Stock Units (including the value of related Dividend Equivalents) to a date later than the payment date specified in the Award Agreement, provided that any such election be made in accordance with
Section 409A of the Code. The Committee shall determine any terms and conditions on deferral. 

  
 13 

 4.6 Other Stock-Based Awards. The Committee may, from time to time, grant
Awards (other than Stock Options, Stock Appreciation Rights, Restricted Stock Units or Restricted Stock) to any Employee that consist of, or are denominated in, payable in, valued in whole or in part by reference to, or otherwise related to, Shares.
These Awards may include, among other things, phantom or hypothetical Shares. The Committee shall determine, in its discretion, the terms and conditions that will apply to Other Stock-Based Awards granted pursuant to this Section 4.6, including
whether Dividend Equivalents will be credited with respect to any such Award in the event of a payment of dividends on Common Stock. The terms and conditions of Other Stock-Based Awards shall be set forth in the applicable Award Agreement. 

4.7 Termination for Cause. If a Participant incurs a Termination of Employment for Cause, then all outstanding Awards shall
immediately be cancelled, except as otherwise provided in an Award Agreement. 
 ARTICLE V 

SHARES SUBJECT TO THE PLAN; ADJUSTMENTS 

5.1 Shares Available. Subject to the provisions of Section 5.3 below, the total aggregate number of Shares issuable under
the Plan shall be 33.5 million authorized but unissued Shares or Shares held in the Company’s treasury, of which no more than 33.5 million Shares may be available for grant in the form of Incentive Stock Options. Commencing with the
first business day of each calendar year beginning in 2021, the aggregate number of Shares shall be increased by a number equal to the least of (x) 10.5 million Shares, (y) 3 % of the number of Shares outstanding as of the last day of the
immediately preceding calendar year, or (z) a lesser number of Shares determined by the Committee. 
 5.2 Counting Rules.

  

	 	(a)	 The following Shares related to Awards to be issued under this Plan may again be available for issuance under
the Plan, in addition to the Shares described in Section 5.1: 

  

	 	(i)	 Shares related to Awards that can only be settled in cash; 

 

	 	(ii)	 Shares related to Awards that expire, are forfeited or cancelled or terminate for any other reason without
issuance of Shares; and 

  

	 	(iii)	 Any Shares issued in connection with Awards that are assumed, converted or substituted as a result of the
acquisition of another company by the Company or an Affiliate or a combination of the Company or an Affiliate with another company. 

  
 14 

	 	(b)	 For purposes of clarity, Shares that are tendered or withheld in payment of all or part of the Exercise Price
of an Award or in satisfaction of withholding tax obligations, and Shares that are reacquired with cash tendered in payment of the Exercise Price of an Award, shall not be included in or added to the number of Shares available for issuance under the
Plan. Upon the settlement of any Stock Appreciation Right issued under the Plan, the gross number of Shares used to determine the settlement value will count against the number of Shares available for issuance under the Plan. 

 

	 	(c)	 No Participant who is a Non-Employee Director shall be granted Awards
during any calendar year that, when aggregated with such non-employee director’s cash fees with respect to such calendar year, exceed $1.5 million in total value (calculating the value of any such
Awards based on the grant date fair value of such Awards for the Company’s financial reporting purposes). 

 5.3
Adjustment Upon Certain Changes. 
  

	 	(a)	 Shares Available for Grants. In the event of any change in the number of shares of Common Stock
outstanding by reason of any stock dividend or split, recapitalization, merger, consolidation, combination or exchange of shares or similar corporate change, the maximum aggregate number of shares of Common Stock with respect to which the Committee
may grant Awards and the maximum aggregate number of shares of Common Stock with respect to which the Committee may grant Awards to any individual Employee in any year shall be appropriately adjusted by the Committee. In the event of any change in
the number of shares of Common Stock outstanding by reason of any other similar event or transaction, the Committee may, to the extent deemed appropriate by the Committee, make such adjustments in the number and class of shares of Common Stock with
respect to which Awards may be granted. 

  

	 	(b)	 Increase or Decrease in Issued Shares Without Consideration. Subject to any required action by the
stockholders of the Company, in the event of any increase or decrease in the number of issued shares of Common Stock resulting from a subdivision or consolidation of shares of Common Stock or the payment of a stock dividend (but only on the shares
of Common Stock), or any other increase or decrease in the number of such shares effected without receipt or payment of consideration by the Company, the Committee shall equitably adjust the number of shares of Common Stock subject to each
outstanding Award and the exercise price per share of Common Stock of each such Award. 

  

	 	(c)	 Certain Transactions. Subject to any required action by the stockholders of the Company, in the event
any merger, consolidation or similar transaction as a result of which the holders of shares of Common Stock receive consideration consisting of securities or other property (including cash), the Committee shall have the power to equitably adjust or
cancel each Award outstanding on the date of such transaction. 

  

	 	(d)	 Other Changes. In the event of any change in the capitalization of the Company or corporate change other
than those specifically referred to above, the Committee shall make equitable adjustments in the number and class of shares subject to Awards outstanding on the date on which such change occurs and in such other terms of such Awards.

  
 15 

	 	(e)	 Performance Awards. In the event of any transaction or event described in this Section 5.3,
including without limitation any corporate change referred to in subsection 5.3(d), the Committee shall have the power to make equitable adjustments in any Performance Measure and in other terms of any Performance Award, provided that such
adjustment is consistent with the requirements of Section 409A of the Code and the regulations thereunder; and provided further that no such adjustment shall be made following the occurrence of a Change in Control to a Performance Award granted
to a Participant without the consent of the Participant. 

  

	 	(f)	 No Other Rights or Changes. Except as expressly provided in the Plan, no Employee shall have any rights
by reason of any subdivision or consolidation of shares of stock of any class, the payment of any dividend, any increase or decrease in the number of shares of stock of any class or any dissolution, liquidation, merger or consolidation of the
Company or any other corporation. Except as expressly provided in the Plan, no issuance by the Company of shares of stock of any class, or securities convertible into shares of stock of any class, shall affect, and no adjustment by reason thereof
shall be made with respect to, the number of shares or amount of other property subject to, or the terms related to, any Award. Except as expressly provided by this Section 5.3, and without limiting the generality of Section 6.1, no change
may be made to the terms of an Award granted to a Participant as a result of an event described in this Section 5.3 without the consent of the Participant. 

5.4 Change in Control. 
  

	 	(a)	 Treatment of Awards Generally. Without limiting the generality of Section 5.3, the provisions of
subsections 5.3(c) through (f) shall apply to Awards that remain unvested or unpaid upon a Change in Control, as if such Change in Control constituted an event described therein. For the avoidance of doubt, Awards shall not vest upon or
following a Change in Control unless otherwise agreed to in a written individual agreement between the Company and the Participant. 

5.5 Fractional Shares. No fractional Shares shall be issued under the Plan. If a Participant acquires or accumulates the right
to receive a fractional Share under the Plan, the Participant will receive either cash in lieu of the fractional Share in an amount equal to the Fair Market Value of the fractional Share as of the date of settlement or the next highest whole number
of Shares, as set forth in the applicable Award Agreement. 
 5.6 Acceleration of Award Upon Corporate Transaction. Except as
provided otherwise in an individual Award Agreement, in the event of a Corporate Transaction, for the portion of each Award that is neither Assumed nor Replaced, such portion of the Award shall automatically become fully vested and exercisable and
be released from any repurchase or forfeiture rights (other than repurchase rights exercisable at Fair Market Value) for all of the Shares (or other consideration) at the time represented by such portion of the Award, immediately prior to the
specified effective date of such Corporate Transaction, provided that the Participant has not had a Termination of Employment prior to such date. Upon the consummation of a Corporate Transaction, such Awards shall be canceled in exchange for the
right to receive the consideration payable to other holders of Common Stock (i) which may be on such terms and conditions as 

  
 16 

 
apply generally to holders of Common Stock under the Corporate Transaction documents (including, without limitation, any escrow, earn-out or other deferred
consideration provisions) or such other terms and conditions as the Committee may provide, and (ii) determined by reference to the number of Shares subject to such Awards and net of any applicable exercise price; provided, that to the
extent that any Awards constitute “nonqualified deferred compensation” that may not be paid upon the Corporate Transaction under Section 409A without the imposition of taxes thereon under Section 409A, the timing of such payments
shall be governed by the applicable Award Agreement (subject to any deferred consideration provisions applicable under the Corporate Transaction documents); and provided, further, that if the amount to which the Participant would be entitled upon
the settlement or exercise of such Award at the time of the Corporate Transaction is equal to or less than zero, then such Award may be terminated without payment. 

ARTICLE VI 
 AMENDMENT
AND TERMINATION 
 6.1 Amendment. The Plan may be amended at any time and from time to time by the Board without the
approval of stockholders of the Company, except that no revision to the terms of the Plan shall be effective until the amendment is approved by the stockholders of the Company if such approval is required by the rules of the applicable stock
exchange or such amendment materially increases the number of Shares that may be issued under the Plan (other than an increase pursuant to Section 5.3 of the Plan). No amendment of the Plan made without the Participant’s written consent
may adversely affect any right of a Participant with respect to an outstanding Award unless such amendment is necessary to comply with applicable law. 

6.2 Termination. The Plan shall terminate upon the adoption of a resolution of the Board terminating the Plan; provided,
that, no Awards shall be granted under this Plan on or after the tenth anniversary of the Effective Date. The termination of the Plan, however, shall not alter or impair any of the rights or obligations of any person without consent under any Award
previously granted under the Plan. After the termination of the Plan, any previously granted Awards shall remain in effect and shall continue to be governed by the terms of the Plan and the applicable Award Agreement. 

ARTICLE VII 
 GENERAL
PROVISIONS 
 7.1 Nontransferability of Awards. No Award under the Plan shall be subject in any manner to alienation,
anticipation, sale, assignment, pledge, encumbrance or transfer, and no other persons shall otherwise acquire any rights therein, except as provided below. 
  

	 	(a)	 Any Award may be transferred by will or by the laws of descent or distribution. 

 

	 	(b)	 The Committee may provide in the applicable Award Agreement that all or any part of an Award (other than an
Incentive Stock Option) may, subject to the prior written consent of the Committee, be transferred to one or more of the following classes of donees: a family member; a trust for the benefit of a family member; a limited partnership whose partners
are solely family members; or any other legal entity set up 

  
 17 

	 	
for the benefit of family members. For purposes of this subsection 7.1(b), a family member means a Participant and/or the Participant’s spouse, children, grandchildren, parents,
grandparents, siblings, nieces, nephews and grandnieces and grandnephews, including adopted, in-laws and step family members. 

 

	 	(c)	 Except as otherwise provided in the applicable Award Agreement, any Nonqualified Stock Option or Stock
Appreciation Right transferred by a Participant pursuant to subsection 7.1(b) may be exercised by the transferee only to the extent that the Award would have been exercisable by the Participant had no transfer occurred. Any transferred Award shall
be subject to all of the same terms and conditions as provided in the Plan and in the applicable Award Agreement. The Participant or the Participant’s estate shall remain liable for any withholding tax that may be imposed by any federal, state
or local tax authority, and the transfer of Shares upon exercise of the Award shall be conditioned on the payment of any withholding tax. The Committee may, in its discretion, disallow all or a part of any transfer of an Award pursuant to subsection
7.1(b) unless and until the Participant makes arrangements satisfactory to the Committee for the payment of any withholding tax. The Participant must immediately notify the Committee, in the form and manner required by the Committee, of any proposed
transfer of an Award pursuant to subsection 7.1(b). No transfer shall be effective until the Committee consents to the transfer in writing. 

  

	 	(d)	 Unless otherwise restricted by Company policy for Reporting Persons, Restricted Stock may be freely transferred
after the restrictions lapse or are satisfied and the Shares are delivered; provided, however, that Restricted Stock awarded to an affiliate of the Company may be transferred only pursuant to Rule 144 under the 1933 Act, or pursuant to an effective
registration for resale under the 1933 Act. For purposes of this subsection 7.1(d), “affiliate” shall have the meaning assigned to that term under Rule 144. 

 

	 	(e)	 In no event may a Participant transfer an Incentive Stock Option other than by will or the laws of descent and
distribution. 

 7.2 Withholding of Taxes. 

 

	 	(a)	 Stock Options and Stock Appreciation Rights. Subject to Section 7.2(d), as a condition to the
delivery of Shares pursuant to the exercise of a Stock Option or Stock Appreciation Right, the Committee may require that the Participant, at the time of exercise, pay to the Company by cash, certified check, bank draft, wire transfer or postal or
express money order an amount sufficient to satisfy any applicable tax withholding obligations, as calculated at the applicable minimum statutory rate. The Committee may also, in its discretion, accept payment of tax withholding obligations through
any of the Exercise Price payment methods described in subsection 4.3(d). 

  

	 	(b)	 Other Awards Payable in Shares. Subject to Section 7.2(d), the Company shall satisfy a
Participant’s tax withholding obligations, calculated at the applicable minimum statutory rate, arising in connection with the release of restrictions on Restricted Stock Units, Restricted Stock, and Other Stock-Based Awards by withholding
Shares 

  
 18 

	 	
that would otherwise be available for delivery. The Company may also allow the Participant to satisfy the Participant’s tax withholding obligations by payment to the Company in cash or by
certified check, bank draft, wire transfer, or postal or express money order or subject to any Company insider trading policy (including blackout periods), and to the extent permitted by the Committee, (A) delivery (including electronically or
telephonically to the extent permitted by the Company) of an irrevocable and unconditional undertaking by a broker acceptable to the Company to deliver promptly to the Company sufficient funds to satisfy the tax obligations, or (B) delivery by
the Participant to the Company of a copy of irrevocable and unconditional instructions to a broker acceptable to the Company to deliver promptly to the Company cash or a check sufficient to satisfy the tax withholding; provided that such amount is
paid to the Company at such time as may be required by the Committee. 

  

	 	(c)	 Cash Awards. The Company shall satisfy a Participant’s tax withholding obligation arising in
connection with the payment of any Award in cash by withholding cash from such payment. 

  

	 	(d)	 Withholding Amount. The Committee, in consideration of applicable accounting standards, has full
discretion to either (i) allow Participants to elect, or (ii) otherwise direct as a general rule, to have the Company withhold Shares for taxes up to the maximum statutory rate in a Participant’s applicable jurisdiction with respect
to an Award. 

 7.3 Forfeiture Provisions. The Committee may, in its discretion, provide in an Award
Agreement terms and conditions that could result in the forfeiture of all or part of an Award, including but not limited to, terms and conditions that relate to non-competition,
non-solicitation of customers and/or employees, confidentiality of Company information, and/or non-disparagement. Notwithstanding anything in this Plan to the contrary,
each Participant acknowledges that the Company may be entitled or required by law, Company policy, the requirements of an exchange on which the Shares are listed for trading, or the terms of an Award Agreement, to recoup all or part of the
compensation paid to the Participant pursuant to this Plan, and each Participant agrees to comply with any Company request or demand for recoupment. 

7.4 Code Section 83(b) Elections. The Company, its Affiliates, and the Committee have no
responsibility for a Participant’s election, attempt to elect or failure to elect to include the value of an Award of Restricted Stock or other Award subject to Section 83 of the Code in the Participant’s gross income for the year of
payment pursuant to Section 83(b) of the Code. Any Participant who makes an election pursuant to Section 83(b) of the Code shall promptly provide the Committee with a copy of the election form. 

7.5 No Implied Rights. The establishment and operation of the Plan, including the eligibility of a Participant to participate in
the Plan, shall not be construed as conferring any legal or other right upon any Employee for the continuation of employment through the end of any vesting period, Performance Cycle, or other period. The Company and its Affiliates expressly reserve
the right, which may be exercised at any time and in the Company’s or an Affiliate’s sole discretion, to discharge any individual or treat him or her without regard to the effect that discharge might have upon him or her as a Participant
in the Plan. 

  
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 7.6 No Obligation to Exercise Awards; No Right to Notice of Expiration Date.
The grant of a Stock Option or Stock Appreciation Right shall impose no obligation upon the Participant to exercise the Award. The Company, its Affiliates, and the Committee have no obligation to inform a Participant of the date on which a Stock
Option or Stock Appreciation Right lapses except in the Award Agreement. 
 7.7 No Rights as Stockholders. A Participant
granted an Award under the Plan shall have no rights as a stockholder of the Company with respect to the Award unless and until certificates for the Shares underlying the Award are registered in the Participant’s name and delivered to the
Participant. The right of any Participant to receive an Award by virtue of participation in the Plan shall be no greater than the right of any unsecured general creditor of the Company. 

7.8 Indemnification of Committee. The Company shall indemnify, to the fullest extent permitted by law, each person made or
threatened to be made a party to any civil or criminal action or proceeding by reason of the fact that the person, or the executor or administrator of the person’s estate, is or was a member of the Committee or a delegate of the Committee. 

7.9 No Required Segregation of Assets. Neither the Company nor any Affiliate shall be required to segregate any assets that may
at any time be represented by Awards granted pursuant to the Plan. 
 7.10 Nature of Payments. All Awards made pursuant to the
Plan are in consideration of services for the Company or an Affiliate. Any gain realized pursuant to Awards under the Plan constitutes a special incentive payment to the Participant and shall not be taken into account as compensation for purposes of
any other employee benefit plan of the Company or any Affiliate, except as the employee benefit plan otherwise provides. The adoption of the Plan shall have no effect on Awards made or to be made under any other benefit plan covering an employee of
the Company or an Affiliate or any predecessor or successor of the Company or an Affiliate. 
 7.11 Awards in Foreign
Countries. The Committee has the authority to grant Awards to Employees who are foreign nationals or employed outside the United States on any different terms and conditions than those specified in the Plan that the Committee, in its
discretion, believes to be necessary or desirable to accommodate differences in applicable law, tax policy, or custom, while furthering the purposes of the Plan. The Committee may also approve any supplements to the Plan or alternative versions of
the Plan as it believes to be necessary or appropriate for these purposes without altering the terms of the Plan in effect for other Participants; provided, however, that the Committee may not make any supplemental or alternative version that
(a) increases limitations contained in subsection 4.3(e) and Section 4.7, (b) increases the number of shares available under the Plan, as set forth in Section 5.1; or (c) causes the Plan to cease to satisfy any conditions under
Rule 16b-3 under the Exchange Act. 
 7.12 Securities Matters. 

 

	 	(a)	 The Company shall be under no obligation to effect the registration pursuant to the 1933 Act of any shares of
Common Stock to be issued hereunder or to effect similar compliance under any state laws. Notwithstanding anything herein to the contrary, the Company shall not be obligated to cause to be issued or delivered any certificates

  
 20 

	 	
evidencing shares of Common Stock pursuant to the Plan unless and until the Company is advised by its counsel that the issuance and delivery of such certificates is in compliance with all
applicable laws, regulations of governmental authority and the requirements of any securities exchange on which shares of Common Stock are traded. The Committee may require, as a condition to the issuance and delivery of certificates evidencing
shares of Common Stock pursuant to the terms hereof, that the recipient of such shares make such covenants, agreements and representations, and that such certificates bear such legends, as the Committee deems necessary or desirable.

  

	 	(b)	 The exercise of any Award granted hereunder shall only be effective at such time as counsel to the Company
shall have determined that the issuance and delivery of shares of Common Stock pursuant to such exercise is in compliance with all applicable laws, regulations of governmental authority and the requirements of any securities exchange on which shares
of Common Stock are traded. The Company may, in its sole discretion, defer the effectiveness of an exercise of an Award hereunder or the issuance or transfer of shares of Common Stock pursuant to any Award pending or to ensure compliance under
federal or state securities laws. The Company shall inform the Participant in writing of its decision to defer the effectiveness of the exercise of an Award or the issuance or transfer of shares of Common Stock pursuant to any Award. During the
period that the effectiveness of the exercise of an Award has been deferred, the Participant may, by written notice, withdraw such exercise and obtain the refund of any amount paid with respect thereto. 

7.13 Governing Law; Severability. The Plan and all determinations made and actions taken under the Plan shall be governed by the
internal substantive laws, and not the choice of law rules, of the State of Delaware and construed accordingly, to the extent not superseded by applicable federal law. If any provision of the Plan is held unlawful or otherwise invalid or
unenforceable in whole or in part, the unlawfulness, invalidity or unenforceability shall not affect any other parts of the Plan, which shall remain in full force and effect. 

7.14 Section 409A of the Code. With respect to Awards subject to Section 409A of the Code, this Plan is intended to comply
with the requirements of such Section, and the provisions hereof shall be interpreted in a manner that satisfies the requirements of such Section and the related regulations, and the Plan shall be operated accordingly. If any provision of this Plan
or any term or condition of any Award would otherwise frustrate or conflict with this intent, the provision, term or condition shall be interpreted and deemed amended so as to avoid this conflict. Any reservation of rights or discretion by the
Company or the Committee hereunder affecting the timing of payment of any Award subject to Section 409A of the Code shall only be as broad as is permitted by Section 409A of the Code and any regulations thereunder. The Company makes no
representation that any or all of the payments or benefits described in this Plan will be exempt from or comply with Section 409A of the Code and makes no undertaking to preclude Section 409A of the Code from applying to any such payment.
The Participant shall be solely responsible for the payment of any taxes and penalties incurred under Section 409A of the Code. 

  
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 7.15 Payments to Specified Employees. Notwithstanding anything herein or in
any Award Agreement to the contrary, if a Participant is a “specified employee” (within the meaning of Section 409A(2)(B) of the Code) as of the date of such Participant’s separation from service (as determined pursuant to
Section 409A of the Code), any Awards subject to Section 409A of the Code payable to such Participant as a result of his or her separation from service, shall be paid on the first business day of the first calendar month that begins after
the six-month anniversary of the date of the separation from service, or, if earlier, the date of the Participant’s death. 

  
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