Document:

EX-10.3

 Exhibit 10.3 

STOCKHOLDERS AGREEMENT OF 

SHIFT4 PAYMENTS, INC. 
 THIS
STOCKHOLDERS AGREEMENT, dated as of [ ● ], 2020 (as it may be amended, amended and restated or otherwise modified from time to time in accordance with the terms hereof, this “Agreement”), is entered into by and
among Shift4 Payments, Inc., a Delaware corporation (the “Corporation”), Searchlight Capital Partners, L.P., a Delaware limited partnership (“Searchlight”), Searchlight Capital II PV L.P., a
limited partnership or organized under the laws of the Cayman Islands (“Searchlight Capital PV”), Searchlight Capital II, L.P., a limited partnership or organized under the laws of the Cayman Islands (together with
Searchlight Capital PV, the “Searchlight Holdcos”) and Rook Holdings, Inc., a Delaware corporation (“Rook Holdings,” and together with Searchlight, the “Original Members”). Certain terms used
in this Agreement are defined in Section 7. 
 RECITALS 

WHEREAS, each Original Member owns, directly or indirectly, outstanding membership interests in Shift4 Payments, LLC, a Delaware limited
liability company (“Shift4 LLC”), which membership interests constitute and are defined as “Common Units” pursuant to the Sixth Amended and Restated Limited Liability Company Agreement of Shift4 LLC, dated as of
[ ● ], 2020, as such agreement may be further amended, restated, amended and restated, supplemented or otherwise modified from time to time (the “LLC Agreement” and such membership interests, the “Common
Units”); 
 WHEREAS, the Corporation is contemplating an offering and sale of the shares of Class A common stock, par value
$0.0001 per share, of the Corporation (the “Class A Common Stock”) in an underwritten initial public offering (the “IPO”) and using a portion of the net proceeds received from the IPO to purchase
Common Units; 
 WHEREAS, pursuant to that certain Common Unit Subscription Agreement by and between the Corporation and Shift4 LLC,
dated as of [ ● ], 2020 (the “Common Unit Subscription Agreement”) and that certain Common Unit Purchase Agreement by and among the Corporation and certain member(s) of Shift4 LLC parties thereto, dated as of
[ ● ], 2020 (the “Common Unit Purchase Agreement”), the Corporation will hold Common Units; 
 WHEREAS, upon
consummation of the transactions contemplated by the Common Unit Subscription Agreement and the Common Unit Purchase Agreement, it is contemplated that the Corporation will be admitted as a member, and appointed as the sole managing member of Shift4
LLC; 
 WHEREAS, in connection with, and prior to, the consummation of the IPO, it is anticipated that Searchlight, the Searchlight Holdcos, the
Corporation and certain of their respective affiliates will enter into a series of related transactions pursuant to which the Searchlight Holdcos will become holders of the Corporation’s Class B Stock, par value $0.0001 per share (the
“Class B Stock”) and the Corporation’s Class C Stock, par value $0.0001 per share (the “Class C Stock”); 

WHEREAS, pursuant to that certain Purchase Agreement by and between the Corporation and Rook Holdings, dated [ ● ], 2020, it is
anticipated that Rook Holdings will purchase up to $100,000,000 of Class C Stock from the Corporation in a private placement concurrently with the IPO at a purchase price per share equal to the IPO offering price per share of the Corporation
Class A Common Stock; 
 WHEREAS, immediately following the consummation of the IPO, Searchlight (together with the Searchlight Holdcos and any
other Permitted Transferees of Searchlight, in such capacity, the “Searchlight Related Parties”) will be the record holder of shares of Class A Common Stock, Class B Stock and Class C Stock; 

 WHEREAS, immediately following the consummation of the IPO, Rook Holdings (and together with its
Permitted Transferees, in such capacity, the “Rook Related Parties”) will be the record holders of shares of Class B Stock and Class C Stock; and 

WHEREAS, in order to induce the Original Members (x) to approve the sale and issuance of Common Units by Shift4 LLC [to the Corporation] and the
appointment of the Corporation as the sole managing member of Shift4 LLC in connection with the IPO and (y) to take such other actions as shall be necessary to effectuate the transactions contemplated by the IPO, the parties hereto desire to
set forth their agreement with respect to the matters set forth herein in connection with their respective investments in the Corporation. 
 NOW,
THEREFORE, in consideration of the covenants and agreements contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Corporation and the Original Members agree as follows: 

Agreement 
 Section 1. Election of
the Board of Directors. 
 (a) Subject to this Section 1(a), the Searchlight Related Parties shall be entitled
to designate for nomination by the Board up to two (2) Directors from time to time (any Director designated by the Searchlight Related Parties, a “Searchlight Director”). The Searchlight Directors shall be apportioned among the
three (3) classes of Directors as nearly equal in number as possible. The right of the Searchlight Related Parties to designate the Searchlight Directors as set forth in this Section 1(a) shall be subject to the
following: (i) if at any time the Searchlight Related Parties beneficially own, directly or indirectly, in the aggregate twenty-five percent (25%) or more of all issued and outstanding shares of Class A Common Stock (including for this
purpose the Underlying Class A Shares), the Searchlight Related Parties shall be entitled to designate two (2) Searchlight Directors, and (ii) if at any time the Searchlight Related Parties beneficially own, directly or indirectly, in
the aggregate less than twenty-five percent (25%) but at least ten percent (10%) or more of all issued and outstanding shares of Class A Common Stock (including for this purpose the Underlying Class A Shares), the Searchlight Related
Parties shall only be entitled to designate one (1) Searchlight Director. The Searchlight Related Parties shall not be entitled to designate any Searchlight Directors in accordance with this Section 1(a) if at any time
the Searchlight Related Parties beneficially own, directly or indirectly, in the aggregate less than ten percent (10%) of all issued and outstanding shares of Class A Common Stock (including for this purpose Underlying Class A Shares).

 (b) Subject to this Section 1(b), the Rook Related Parties shall be entitled to designate for nomination by the
Board two (2) Directors from time to time (any Director designated by the Rook Related Parties, a “Rook Director”). The Rook Directors shall be apportioned among the three (3) classes of Directors as nearly equal in number
as possible. The right of the Rook Related Parties to designate the Rook Directors as set forth in this Section 1(b) shall be subject to the following: (i) if at any time the Rook Related Parties beneficially own,
directly or indirectly, in the aggregate twenty-five percent (25%) or more of all issued and outstanding shares of Class A Common Stock (including for this purpose the Underlying Class A Shares), the Rook Related Parties shall be entitled
to designate two (2) Rook Directors, and (ii) if at any time the Rook Related Parties beneficially own, directly or indirectly, in the aggregate less than twenty- 

  
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five percent (25%) but at least ten percent (10%) or more of all issued and outstanding shares of Class A Common Stock (including for this purpose the Underlying Class A Shares), the
Rook Related Parties shall only be entitled to designate one (1) Rook Director. The Rook Related Parties shall not be entitled to designate any Rook Directors in accordance with this Section 1(b) if at any time the
Rook Related Parties beneficially own, directly or indirectly, in the aggregate less than ten percent (10%) of all issued and outstanding shares of Class A Common Stock (including for this purpose Underlying Class A Shares).
Notwithstanding anything to the contrary set forth in this Section 1(b), so long as Jared Isaacman serves as the Chief Executive Officer of the Corporation, Mr. Jared Isaacman shall be nominated by the Board as a
Director and in that capacity he shall serve as one of the Rook Directors. 
 (c) Subject to Section 1(a) and
Section 1(b), each of Searchlight, the Searchlight Holdcos and Rook Holdings hereby agree to vote, or cause to be voted, all outstanding shares of Class A Common Stock, Class B Stock and/or Class C Stock, as
applicable, held by the Searchlight Related Parties and the Rook Related Parties (or any of the Permitted Transferees) at any annual or special meeting of stockholders of the Corporation at which Directors of the Corporation are to be elected or
removed, or to take all Necessary Action to cause the election or removal of the Searchlight Directors and the Rook Directors as a Director, as provided herein and to implement and enforce the provisions set forth in
Section 3. 
 Section 2. Vacancies and Replacements. 

(a) If the number of Directors that the Searchlight Related Parties or the Rook Related Parties have the right to designate to the Board is
decreased pursuant to Section 1(a) or Section 1(b) (each such occurrence, a “Decrease in Designation Rights”), then: 

(i) unless a majority of Directors (with the affected party’s Board designees abstaining) agree in writing that a Director
or Directors shall not resign as a result of a Decrease in Designation Rights, each of the Searchlight Related Parties or the Rook Related Parties, as applicable, shall use its reasonable best efforts to cause each of (x) the appropriate number
of Searchlight Directors that the Searchlight Related Parties cease to have the right to designate to serve as a Searchlight Director or (y) the Rook Directors that the Rook Related Parties cease to have the right to designate to serve as the
Rook Directors, respectively, to offer to tender his, her or their resignation(s), and each of such Searchlight Directors or Rook Directors so tendering a resignation, as applicable, shall resign within thirty (30) days from the date that the
Searchlight Related Parties and/or the Rook Related Parties, as applicable, incurs a Decrease in Designation Rights. In the event any such Searchlight Director or Rook Director, as applicable, does not resign as a Director by such time as is
required by the foregoing, the Searchlight Related Parties and the Rook Related Parties, as holders of Class A Common Stock, Class B Stock and Class C Stock, the Corporation and the Board, to the fullest extent permitted by law and,
with respect to the Board, subject to its fiduciary duties to the Corporation’s stockholders, shall thereafter take all Necessary Action, including voting in accordance with Section 1(c), to cause the removal of such
individual as a Director; and 
 (ii) the vacancy or vacancies created by such resignation(s) and/or removal(s) shall be
filled with one or more Directors, as applicable, designated by the Board upon the recommendation of the Nominating and Corporate Governance Committee (with the affected party’s Board designees abstaining), so long as it is established. 

(b) Each of the Searchlight Related Parties and the Rook Related Parties shall have the sole right to request that one or more of their
respective designated Directors, as applicable, tender their resignations as Directors of the Board (each, a “Removal Right”), in each case, with or without cause at any time, by sending a written notice to such Director and the
Corporation’s Secretary stating the name of 

  
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the Director or Directors whose resignation from the Board is requested (the “Removal Notice”). If the Director subject to such Removal Notice does not resign within thirty
(30) days from receipt thereof by such Director, the Searchlight Related Parties and the Rook Related Parties, as holders of Class A Common Stock, Class B Stock and Class C Stock, the Corporation and the Board, to the fullest
extent permitted by law and, with respect to the Board, subject to its fiduciary duties to the Corporation’s stockholders, shall thereafter take all Necessary Action, including voting in accordance with Section 1(c) to
cause the removal of such Director from the Board (and such Director shall only be removed by the parties to this Agreement in such manner as provided herein). 

(c) Except with respect to a Decrease in Designation Rights subject to Section 2(a), each of the Searchlight Related
Parties and the Rook Related Parties, as applicable, shall have the exclusive right to designate a replacement Director for nomination or election by the Board to fill vacancies created as a result of not designating their respective Directors
initially or by death, disability, retirement, resignation, removal (with or without cause) of their respective Directors, or otherwise by designating a successor for nomination or election by the Board to fill the vacancy of their respective
Directors created thereby on the terms and subject to the conditions of Section 1. 
 Section 3. Initial Directors and
Corporate Governance. 
 (a) Initial Directors. The initial Searchlight Directors pursuant to Section 1(a) shall initially be
Christopher Cruz (as a Class [ ● ] Director) and Andrew Frey (as a Class [ ● ] Director). The initial Rook Directors pursuant to Section 1(b) shall initially be Jared Isaacman (as a Class [ ● ]
Director) and Donald Isaacman (as a Class [ ● ] Director). Mr. Jared Isaacman shall serve as the initial Chairperson of the Board (as defined in the Bylaws) for the initial term, in accordance with this Agreement and the Bylaws,
after which the Chairperson of the Board shall be determined in accordance with this Agreement and the Bylaws. 
 (b) Nominating
Committee. For so long as the Rook Related Parties have the ability pursuant to Section 1(b) to designate for nomination at least one (1) Director, the Rook Related Parties shall have, to the fullest extent
permitted by applicable law, subject to the New York Stock Exchange rules and in compliance with other applicable laws, rules and regulations, and subject to the requirements of the charter for the Nominating and Corporate Governance Committee, the
right, but not the obligation, to designate one (1) member of the Nominating and Corporate Governance Committee. For so long as the Searchlight Related Parties have the ability pursuant to Section 1(a) to designate for
nomination at least one (1) Director, the Searchlight Related Parties shall have, to the fullest extent permitted by applicable law, subject to the New York Stock Exchange rules and in compliance with other applicable laws, rules and
regulations, and subject to the requirements of the charter for the Nominating and Corporate Governance Committee, the right, but not the obligation, to designate one (1) member of the Nominating and Corporate Governance Committee. 

(c) Chief Executive Officer. Immediately following the consummation of the IPO, the Chief Executive Officer of the Corporation shall be
Jared Isaacman. Mr. Jared Isaacman shall not be removed or terminated as Chief Executive Officer without “Cause” (as such term is defined in Mr. Jared Isaacman’s employment agreement with the Company in effect as of the date
hereof) without the approval of (i) a majority of the Directors comprising the Board and (ii) a majority of the Rook Directors, in each case with Mr. Jared Isaacman recusing himself from such vote. 

  
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 Section 4. Rights of the Original Members. 

In addition to any voting requirements contained in the organizational documents of the Corporation or any of its Subsidiaries, the Corporation
shall not take, and shall cause Shift4 LLC and its Subsidiaries not to take, any of the following actions (whether by merger, consolidation or otherwise) without the prior written approval of (i) Searchlight and each of the Searchlight Holdcos
for as long as the Searchlight Related Parties beneficially own, directly or indirectly, in the aggregate twenty-five percent (25%) or more of all issued and outstanding shares of Class A Common Stock (including for these purposes the
Underlying Class A Shares) and (ii) Rook Holdings for as long as the Rook Holdings Related Parties beneficially own, directly or indirectly, in the aggregate of twenty-five percent (25%) or more of all issued and outstanding shares of
Class A Common Stock (including for these purposes the Underlying Class A Shares): 
 (a) any transaction or series of related
transactions, in each case, to the extent within the reasonable control of the Corporation, (i) in which any “person” or “group” (within the meaning of Sections 13(d) and 14(d) of the Exchange Act (excluding the Searchlight
Related Parties, the Rook Related Parties and any “group” that includes the Searchlight Related Parties and the Rook Related Parties)) acquires, directly or indirectly, in excess of fifty percent (50%) of the then outstanding shares of any
class of capital stock (or equivalent) of the Corporation, Shift4 LLC or any of their respective Subsidiaries (whether by merger, consolidation, sale or transfer of capital stock or partnership, membership or other equity interests, tender offer,
exchange offer, reorganization, recapitalization or otherwise) or (ii) following which any “person” or “group” referred to in clause (i) hereof has the direct or indirect power to elect a majority of the members of the
Board or to replace the Corporation as the sole manager of Shift4 LLC (or to add another Person as a co-manager of Shift4 LLC); 

(b) the reorganization, recapitalization, voluntary bankruptcy, liquidation, dissolution or winding-up
of the Corporation, Shift4 LLC or any of their respective Subsidiaries; 
 (c) the sale, lease or exchange of all or substantially all of the
property and assets of the Corporation and its Subsidiaries, taken as a whole; 
 (d) any actions (including, without limitation, any debt
recapitalizations, refinancings, amendments, revolver drawings, repayments, and compliance report review) with respect to the Corporation or its Subsidiaries’ debt capitalization (including, without limitation, any debt obligations outstanding
as of the date of this Agreement) in excess of $100,000,000; 
 (e) the declaration or payment of any dividends or other distributions by the
Corporation or its Subsidiaries; 
 (f) any buyback, purchase, repurchase, redemption or other acquisition by the Corporation or Shift4 LLC
of any of the securities of the Corporation, Shift4 LLC or any of their respective Subsidiaries, other than repurchases made pursuant to any incentive plan adopted by the Board and stockholders of the Corporation or in connection with any redemption
or exchange of Common Units as set forth in the LLC Agreement; 
 (g) the (i) resignation, replacement or removal of the Corporation as
the sole manager of Shift4 LLC or (ii) appointment of any additional Person as a manager of Shift4 LLC; 
 (h) any acquisition or
disposition of assets of the Corporation or any of its Subsidiaries where the aggregate consideration for such assets is greater than twenty-five million dollars ($25,000,000) in any single transaction or series of related transactions, other than
transactions solely between or among the Corporation and/or one or more of the Corporation’s direct or indirect wholly owned subsidiaries; 

(i) the creation of a new class or series of capital stock or equity securities of the Corporation, Shift4 LLC or any of their respective
Subsidiaries; 

  
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 (j) any issuance of additional shares of Class A Common Stock, Class B Stock,
Class C Stock, Preferred Stock or other equity securities of the Corporation, Shift4 LLC or any of their respective Subsidiaries after the date hereof, other than any issuance of additional shares of Class A Common Stock or other equity
securities of the Corporation or its Subsidiaries (i) under any stock option or other equity compensation plan of the Corporation or any of its Subsidiaries approved by the Board or the compensation committee of the Board, (ii) pursuant to
the exercise or conversion of any options, warrants or other securities existing as of the date of this Agreement, or (iii) in connection with any redemption of Common Units as set forth in the LLC Agreement; 

(k) any amendment or modification of the organizational documents of the Corporation, Shift4 LLC or any of their respective Subsidiaries, other
than the LLC Agreement, which shall be subject to amendment or modification solely in accordance with the terms set forth therein; 
 (l)
entering into, modifying, amending or terminating any material contract of the Corporation, Shift4 LLC or any of their respective Subsidiaries, other than for such modifications and terminations that are in the ordinary course of the Company’s
business consistent with past practice; 
 (m) any new joint venture with a non-affiliate
third-party; 
 (n) the commencement, settlement or compromise by the Corporation, Shift4 LLC or any of their respective Subsidiaries, of any
litigation, claim, arbitration or other adversarial proceeding, governmental investigation, or proceeding involving an amount in dispute in excess of $500,000; 

(o) any entering into, modifying, amending or terminating any employments, severance, change of control or other agreement or contract with the
Chief Executive Officer of the Corporation; 
 (p) any hiring and/or termination of the Chief Executive Officer, Chief Financial Officer,
Chief Strategy Officer, General Counsel, or other executive officer of the Corporation; or 
 (q) any increase or decrease of the size of the
Board. 
 Notwithstanding anything in the organizational documents of the Corporation to the contrary, each of (i) the Rook Related
Parties for as long as the Rook Related Parties beneficially own, directly or indirectly, in the aggregate twenty-five percent (25%) or more of all issued and outstanding shares of Class A Common Stock (including for these purposes the
Underlying Class A Shares) and (ii) the Searchlight Related Parties for as long as the Searchlight Related Parties beneficially own, directly or indirectly, in the aggregate twenty-five percent (25%) or more of all issued and outstanding
shares of Class A Common Stock (including for these purposes the Underlying Class A Shares), shall have the right to call a special meeting of stockholders of the Corporation for any purpose. 

Section 5. Covenants of the Corporation. 

(a) The Corporation agrees to take all Necessary Action to (i) cause the Board to be comprised of at least seven (7) Directors or
such other number of Directors as the Board may determine, subject to the terms of this Agreement, the Charter or the Bylaws of the Corporation; (ii) cause the individuals designated in accordance with Section 1 to be
included in the slate of nominees to be elected to the Board at the next annual or special meeting of stockholders of the Corporation at which Directors are to be elected, in accordance with the Bylaws, Charter and General Corporation Law of the
State of Delaware and at each annual meeting of stockholders of the Corporation thereafter at which such Director’s term expires; (iii) cause the individuals designated in accordance with Section 2(c) to fill the
applicable vacancies on the Board, in accordance with the Bylaws, Charter, Securities Laws, General Corporation Law of the State of Delaware and the New York Stock Exchange rules; (iv) cause a Rook Director to be the Chairperson of the Board
and (v) to adhere to, implement and enforce the provisions set forth in Section 4. 

  
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 (b) The Searchlight Related Parties and the Rook Related Parties shall comply with the
requirements of the Charter and Bylaws when designating and nominating individuals as Directors, in each case, to the extent such requirements are applicable to Directors generally. Notwithstanding anything to the contrary set forth herein, in the
event that the Board determines, within sixty (60) days after compliance with the first sentence of this Section 5(b), in good faith, after consultation with outside legal counsel, that its nomination, appointment or
election of a particular Director designated in accordance with Section 1 or Section 2, as applicable, would constitute a breach of its fiduciary duties to the Corporation’s stockholders or
does not otherwise comply with any requirements of the Charter or Bylaws, then the Board shall inform the Searchlight Related Parties and/or the Rook Related Parties, as applicable, of such determination in writing and explain in reasonable detail
the basis for such determination and shall, to the fullest extent permitted by law, nominate, appoint or elect another individual designated for nomination, election or appointment to the Board by the Searchlight Related Parties and/or the Rook
Related Parties, as applicable (subject in each case to this Section 5(b)). The Board and the Corporation shall, to the fullest extent permitted by law, take all Necessary Action required by this
Section 5 with respect to the election of such substitute designees to the Board. 
 (c) In addition to any voting
requirements contained in this Agreement or the organizational documents of the Corporation or any of its Subsidiaries, the Corporation shall not, directly or indirectly, enter into or conduct business or operations or hold or acquire assets in its
own name or otherwise other than through Shift4 LLC and its Subsidiaries without the prior written approval of (i) Searchlight and each of the Searchlight Holdcos for as long as the Searchlight Related Parties beneficially own, directly or
indirectly, in the aggregate five percent (5%) or more of all issued and outstanding Common Units and (ii) Rook Holdings for as long as the Rook Holdings Related Parties beneficially own, directly or indirectly, in the aggregate five percent (5%) or
more of all issued and outstanding Common Units, provided, however, that nothing in this clause (c) shall be deemed to prohibit the Corporation from, and no consent of Searchlight, Rook Holdings or any other Person shall be required for the
Corporation to engage in, (i) holding or using cash received by the Corporation as a result of the Corporation’s investment in Shift4 LLC or (ii) re-investing cash into Shift4 LLC (whether by way of intercompany loan, investment or otherwise).

 Section 6. Termination. 
 This
Agreement shall terminate upon the earliest to occur of any one of the following events: 
 (a) each of (i) the Searchlight Related
Parties and (ii) the Rook Related Parties ceasing to own any shares of Class A Common Stock, Class B Stock or Class C Stock; 

(b) each of (i) the Searchlight Related Parties and (ii) the Rook Related Parties ceasing to have any Director designation rights
under Section 1 and 
 (c) the unanimous written consent of the parties hereto. 

For the avoidance of doubt, the rights and obligations (i) of the Searchlight Related Parties under this Agreement shall terminate upon
the Searchlight Related Parties ceasing to own any shares of Class A Common Stock, Class B Stock or Class C Stock and (ii) of the Rook Related Parties under this Agreement shall terminate upon the Rook Related Parties ceasing to
own any shares of Class A Common Stock, Class B Stock or Class C Stock. Notwithstanding the foregoing, nothing in this Agreement shall modify, limit or otherwise affect, in any way, any and all rights to indemnification, exculpation
and/or contribution owed by any of the parties hereto, to the extent arising out of or relating to events occurring prior to the date of termination of this Agreement or the date the rights and obligations of such party under this Agreement
terminates in accordance with this Section 6. 
 Section 7. Definitions. 

As used in this Agreement, any term that it is not defined herein, shall have the following meanings: 

“Board” means the board of directors of the Corporation. 

“Bylaws” means the amended and restated bylaws of the Corporation, dated as of the date hereof, as the same may be further
amended, restated, amended and restated or otherwise modified from time to time. 

  
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 “Charter” means the amended and restated certificate of incorporation of
the Corporation, effective as of the date hereof, as the same may be further amended, restated, amended and restated or otherwise modified from time to time. 

“Director” means a member of the Board. 

“Necessary Action” means, with respect to a specified result, all commercially reasonable actions required to cause such
result that are within the power of a specified Person, including (i) voting or providing a written consent or proxy with respect to the equity securities owned by the Person obligated to undertake the necessary action, (ii) voting in
favor of the adoption of stockholders’ resolutions and amendments to the organizational documents of the Corporation, (iii) executing agreements and instruments, and (iv) making, or causing to be made, with governmental,
administrative or regulatory authorities, all filings, registrations or similar actions that are required to achieve such result. 

“Nominating and Corporate Governance Committee” means the nominating and corporate governance committee of the Board or any
committee of the Board authorized to perform the function of recommending to the Board the nominees for election as Directors or nominating the nominees for election as Directors. 

“Permitted Transferees” has the meaning set forth in the Charter. 

“Person” means any individual, corporation, limited liability company, partnership, trust, joint stock company, business
trust, unincorporated association, joint venture, governmental authority or other entity or organization, including a government or any subdivision or agency thereof. 

“Preferred Stock” means the shares of preferred stock, par value $0.0001 per share, of the Corporation. 

“Securities Laws” means the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended, and the
rules promulgated thereunder. 
 “Subsidiary” means with respect to any Person, any corporation, limited liability company,
partnership, association, trust or other form of legal entity, of which (a) such first Person directly or indirectly owns or controls at least a majority of the securities or other interests having by their terms voting power to elect a
majority of the board of directors or others performing similar functions, or (b) such first Person is a general partner or managing member (excluding partnerships in which such Person or any Subsidiary thereof does not have a majority of the
voting interests in such partnership). 
 “Underlying Class A Shares” means (i) all shares of
Class A Common Stock issuable upon redemption of Common Units, assuming all such Common Units are redeemed for Class A Common Stock on a one-for-one basis and
(ii) all shares of Class C Common Stock. 
 Unless the context of this Agreement otherwise requires, (i) words of any gender include
each other gender; (ii) words using the singular or plural number also include the plural or singular number, respectively; (iii) the terms “hereof,” “herein,” “hereby” and derivative or similar words refer to
this entire Agreement; (iv) the terms “Article” or “Section” refer to the specified Article or Section of this Agreement; (v) the word “including” shall mean “including, without limitation”; (vi)
each defined term has its defined meaning throughout this Agreement, whether the definition of such term appears before or after such term is used; and (vii) the word “or” shall be disjunctive but not exclusive. References to
agreements and other documents shall be deemed to include all subsequent amendments and other modifications thereto. References to statutes shall include all regulations promulgated thereunder and references to statutes or regulations shall be
construed as including all statutory and regulatory provisions consolidating, amending or replacing the statute or regulation. 

  
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 Section 8. Choice of Law and Venue; Waiver of Right to Jury Trial. 

(a) THIS AGREEMENT SHALL BE GOVERNED BY, CONSTRUED, APPLIED AND ENFORCED IN ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF DELAWARE. EACH OF
THE PARTIES HERETO ACKNOWLEDGES AND AGREES THAT IN THE EVENT OF ANY BREACH OF THIS AGREEMENT, THE NON-BREACHING PARTY WOULD BE IRREPARABLY HARMED AND COULD NOT BE MADE WHOLE BY MONETARY DAMAGES, AND THAT, IN
ADDITION TO ANY OTHER REMEDY TO WHICH THEY MAY BE ENTITLED AT LAW OR IN EQUITY, THE PARTIES SHALL BE ENTITLED TO SUCH EQUITABLE OR INJUNCTIVE RELIEF AS MAY BE APPROPRIATE. THE CHOICE OF FORUM SET FORTH IN THIS SECTION SHALL NOT BE DEEMED TO PRECLUDE
THE ENFORCEMENT OF ANY JUDGMENT OF A DELAWARE FEDERAL OR STATE COURT, OR THE TAKING OF ANY ACTION UNDER THIS AGREEMENT TO ENFORCE SUCH A JUDGMENT, IN ANY OTHER APPROPRIATE JURISDICTION. 

(b) IN THE EVENT ANY PARTY TO THIS AGREEMENT COMMENCES ANY LITIGATION, PROCEEDING OR OTHER LEGAL ACTION IN CONNECTION WITH OR RELATING TO THIS
AGREEMENT, ANY RELATED AGREEMENT OR ANY MATTERS DESCRIBED OR CONTEMPLATED HEREIN OR THEREIN, THE PARTIES TO THIS AGREEMENT HEREBY (1) AGREE UNDER ALL CIRCUMSTANCES ABSOLUTELY AND IRREVOCABLY TO SUBMIT TO THE EXCLUSIVE JURISDICTION OF THE COURT
OF CHANCERY OF THE STATE OF DELAWARE, OR IF (AND ONLY IF) SUCH COURT FINDS IT LACKS SUBJECT MATTER JURISDICTION, THE SUPERIOR COURT OF THE STATE OF DELAWARE (COMPLEX COMMERCIAL DIVISION), OR IF UNDER APPLICABLE LAW, SUBJECT MATTER JURISDICTION OVER
THE MATTER THAT IS THE SUBJECT OF THE ACTION OR PROCEEDING IS VESTED EXCLUSIVELY IN THE FEDERAL COURTS OF THE UNITED STATES OF AMERICA, THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF DELAWARE, AND APPELLATE COURTS FROM ANY THEREOF, WITH
RESPECT TO ALL ACTIONS AND PROCEEDINGS ARISING OUT OF OR RELATING TO THIS AGREEMENT AND THE TRANSACTIONS CONTEMPLATED HEREBY; (2) AGREE THAT IN THE EVENT OF ANY SUCH LITIGATION, PROCEEDING OR ACTION, SUCH PARTIES WILL CONSENT AND SUBMIT TO THE
PERSONAL JURISDICTION OF ANY SUCH COURT DESCRIBED IN CLAUSE (1) OF THIS SECTION 8(B) AND TO SERVICE OF PROCESS UPON THEM IN ACCORDANCE WITH THE RULES AND STATUTES GOVERNING SERVICE OF PROCESS; (3) AGREE TO WAIVE TO THE FULL EXTENT
PERMITTED BY LAW ANY OBJECTION THAT THEY MAY NOW OR HEREAFTER HAVE TO THE VENUE OF ANY SUCH LITIGATION, PROCEEDING OR ACTION IN ANY SUCH COURT OR THAT ANY SUCH LITIGATION, PROCEEDING OR ACTION WAS BROUGHT IN ANY INCONVENIENT FORUM; (4) AGREE TO
WAIVE ANY RIGHTS TO A JURY TRIAL TO RESOLVE ANY DISPUTES OR CLAIMS RELATING TO THIS AGREEMENT; (5) AGREE TO SERVICE OF PROCESS IN ANY LEGAL PROCEEDING BY MAILING OF COPIES THEREOF TO SUCH PARTY AT ITS ADDRESS SET FORTH HEREIN FOR COMMUNICATIONS
TO SUCH PARTY; (6) AGREE THAT ANY SERVICE MADE AS PROVIDED HEREIN SHALL BE EFFECTIVE AND BINDING SERVICE IN EVERY RESPECT; AND (7) AGREE THAT NOTHING HEREIN SHALL AFFECT THE RIGHTS OF ANY PARTY TO EFFECT SERVICE OF PROCESS IN ANY OTHER
MANNER PERMITTED BY LAW. 

  
 9 

 Section 9. Notices. 

Any notice, request, claim, demand, document and other communication hereunder to any party shall be effective upon receipt (or refusal of
receipt) and shall be in writing and delivered personally or sent by facsimile, or by electronic mail, or first class mail, or by Federal Express or other similar courier or other similar means of communication, as follows: 

 

	 	(a)	 If to Searchlight or the Searchlight Holdcos, addressed as follows: 

Searchlight Capital Partners, L.P. 

745 5th Avenue, 27th Floor 
 New
York, New York 10151 
 Attn: Christopher Cruz 

E-mail: 
 with a copy (which copy
shall not constitute notice) to: 
 Latham & Watkins LLP 

885 Third Avenue 
 New York, New
York 10022 
 Attn: Christina Singh 

Facsimile: (212) 751-4864 

E-mail: 
  

	 	(b)	 If to Rook Holdings, addressed as follows: 

Rook Holdings, Inc. 
 2202 N.
Irving St. 
 Allentown, Pennsylvania 18109 

Attn: Jared Isaacman 
 E-mail: 
 with a copy (which shall not constitute notice) to: 

Kane Kessler, P.C. 
 Attn:
Mitchell D. Hollander and Robert Lawrence 
 Facsimile: (212) 541-6222 

E-mail: 
  

	 	(c)	 If to the Corporation, addressed as follows: 

Shift4 Payments, Inc. 
 2202 N.
Irving St. 
 Allentown, Pennsylvania 18109 

Telephone: (888) 276-2108 

Attn: Jordan Frankel, General Counsel and EVP, Legal 

E-mail: 

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

Latham & Watkins LLP 

885 Third Avenue 

  
 10 

 
New York, New York 10022 
 Attn: Marc Jaffe and Ian Schuman 

Facsimile: (212) 751-4864 

E-mail: 

or, in each case, to such other address or email address as such party may designate in writing to each party by written notice given in the manner specified
herein. All such communications shall be deemed to have been given, delivered or made when so delivered by hand or sent by facsimile (with confirmed transmission), on the next business day if sent by overnight courier service (with confirmed
delivery) or when received if sent by first class mail, or in the case of notice by electronic mail, when the relevant email enters the recipient’s server. 

Section 10. Assignment. 
 Except as
otherwise provided herein, 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 respective successors and permitted assigns of the parties hereto. This Agreement may
not be assigned (by operation of law or otherwise) without the express prior written consent of the other parties hereto, and any attempted assignment, without such consents, will be null and void; provided, however, that each of
Searchlight, the Searchlight Holdcos and Rook Holdings is permitted to assign this Agreement to their respective Permitted Transferees. Each of Searchlight, the Searchlight Holdcos and Rook Holdings shall cause any of their respective Permitted
Transferees to become a party to this Agreement. 
 Section 11. Amendment and Modification; Waiver of Compliance. 

This Agreement may not be amended, modified, altered or supplemented except by means of a written instrument executed on behalf of each of the
Corporation, Searchlight and Rook Holdings. Except as otherwise provided in this Agreement, any failure of any of the parties to comply with any obligation, covenant, agreement or condition herein may be waived by the party or parties entitled to
the benefits thereof only by a written instrument signed by the party or parties granting such waiver, but such waiver or failure to insist upon strict compliance with such obligation, covenant, agreement or condition shall not operate as a waiver
of, or estoppel with respect to, any subsequent or other failure. 
 Section 12. Waiver. 

No failure on the part of either party hereto to exercise any power, right, privilege or remedy under this Agreement, and no delay on the part
of either party hereto in exercising any power, right, privilege or remedy under this Agreement, shall operate as a waiver thereof; and no single or partial exercise of any such power, right, privilege or remedy shall preclude any other or further
exercise thereof or of any other power, right, privilege or remedy. 
 Section 13. Severability. 

If any provision of this Agreement, or the application of such provision to any Person or circumstance or in any jurisdiction, shall be held to
be invalid or unenforceable to any extent, (i) the remainder of this Agreement shall not be affected thereby, and each other provision hereof shall be valid and enforceable to the fullest extent permitted by law, (ii) as to such Person or
circumstance or in such jurisdiction such provision shall be reformed to be valid and enforceable to the fullest extent permitted by law and (iii) the application of such provision to other Persons or circumstances or in other jurisdictions
shall not be affected thereby. 

  
 11 

 Section 14. Counterparts. 

This Agreement may be executed in any number of counterparts and signatures may be delivered by facsimile, each of which may be executed by
less than all parties, each of which shall be enforceable against the parties actually executing such counterparts, and all of which together shall constitute one instrument. 

Section 15. Further Assurances. 
 At
any time or from time to time after the date hereof, the parties hereto agree to cooperate with each other, and at the request of any other party, to execute and deliver any further instruments or documents and to take all such further action as any
other party may reasonably request in order to evidence or effectuate the provisions of this Agreement and to otherwise carry out the intent of the parties hereunder. 

Section 16. Titles and Subtitles. 

The descriptive headings of this Agreement are inserted for convenience only and do not constitute a part of this Agreement. 

Section 17. Representations and Warranties. 

(a) Each of Searchlight, the Searchlight Holdcos, Rook Holdings and each Person who becomes a party to this Agreement after the date hereof,
severally and not jointly and solely with respect to itself, represents and warrants to the Corporation as of the time such party becomes a party to this Agreement that (a) if applicable, it is duly authorized to execute, deliver and perform
this Agreement; (b) this Agreement has been duly executed by such party and is a valid and binding agreement of such party, enforceable against such party in accordance with its terms; and (c) the execution, delivery and performance by
such party of this Agreement does not violate or conflict with or result in a breach of or constitute (or with notice or lapse of time or both constitute) a default under any agreement to which such party is a party or, if applicable, the
organizational documents of such party. 
 (b) The Corporation represents and warrants to each other party hereto that (a) the
Corporation is duly authorized to execute, deliver and perform this Agreement; (b) this Agreement has been duly authorized, executed and delivered by the Corporation and is a valid and binding agreement of the Corporation, enforceable against
the Corporation in accordance with its terms; and (c) the execution, delivery and performance by the Corporation of this Agreement does not violate or conflict with or result in a breach by the Corporation of or constitute (or with notice or
lapse of time or both constitute) a default by the Corporation under the Charter or Bylaws, any existing applicable law, rule, regulation, judgment, order, or decree of any governmental authority exercising any statutory or regulatory authority of
any of the foregoing, domestic or foreign, having jurisdiction over the Corporation or any of its Subsidiaries or any of their respective properties or assets, or any agreement or instrument to which the Corporation or any of its Subsidiaries is a
party or by which the Corporation or any of its Subsidiaries or any of their respective properties or assets may be bound. 
 Section 18. No Strict
Construction. 
 This Agreement shall be deemed to be collectively prepared by the parties hereto, and no ambiguity herein shall be
construed for or against any party based upon the identity of the author of this Agreement or any provision hereof. 
 [REMAINDER OF PAGE
INTENTIONALLY LEFT BLANK] 

  
 12 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed on the day
and year first above written. 
  

			
	SHIFT4 PAYMENTS, INC.
		
	By:	 	  

	Name:	 	
	Title:	 	

 [Signature Page to Stockholders Agreement] 

 
			
	SEARCHLIGHT CAPITAL PARTNERS, L.P.
	
	By: [ ● ],
	its [ ● ]

 
			
		
	By:	 	  

	Name:	 	
	Title:	 	

 
			
	
	SEARCHLIGHT CAPITAL II, L.P.
	
	By: [ ● ],
	its [ ● ]

 
			
		
	By:	 	  

	Name:	 	
	Title:	 	

 
			
	
	SEARCHLIGHT CAPITAL II PV, L.P.
	
	By: [ ● ],
	its [ ● ]

 
			
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 14 

 
			
	ROOK HOLDINGS, INC.,
	a Delaware corporation
		
	By:	 	  

	Name:	 	Jared Isaacman
	Title:	 	

 [Signature Page to Stockholders Agreement]EX-10.4

 Exhibit 10.4 

REGISTRATION RIGHTS AGREEMENT 

This REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is made as of [ ● ], 2020 by and among Shift4
Payments, Inc., a Delaware corporation (the “Corporation”), and each Person identified on the Schedule of Holders attached hereto as of the date hereof (such Persons, collectively, the “Original Equity Owner
Parties”). 
 RECITALS 

WHEREAS, the Corporation is contemplating an offer and sale of its shares of Class A common stock, par value $0.0001 per share (the
“Class A Common Stock” and such shares, the “Shares”), to the public in an underwritten initial public offering (the “IPO”); 

WHEREAS, the Corporation desires to use a portion of the net proceeds from the IPO to purchase Common Units (as defined below) of Shift4
Payments, LLC, a Delaware limited liability company (the “Company”), and the Company desires to issue its Common Units to the Corporation in exchange for such portion of the net proceeds from the IPO; 

WHEREAS, immediately prior to the consummation of the issuance of Common Units by the Company to the Corporation, the Original Equity Owner
Parties and certain other Persons that hold equity interests in the Company are the sole members of the Company (the Original Equity Owner Parties, together with such other Persons, the “Original Equity Owners”); 

WHEREAS, immediately prior to or simultaneous with the purchase by the Corporation of the Common Units, the Corporation, the Company and the
Original Equity Owners will enter into that certain Sixth Amended and Restated Limited Liability Company Agreement of the Company (such agreement, as it may be amended, restated, amended and restated, supplemented or otherwise modified form time to
time, the “LLC Agreement”); 
 WHEREAS, in connection with the closing of the IPO, (i) the Corporation will
become the sole managing member of the Company, (ii) under the LLC Agreement, the equity interests held by the Original Equity Owners prior to such time will be cancelled and new Common Units (as defined in the LLC Agreement, the
“Common Units”) of the Company will be issued, (iii) each Person identified on the Schedule of Holders attached hereto as a “Former Equity Owner” (such Persons, collectively, the “Former Equity
Owners”) will exchange their indirect interest in the Common Units for shares of Class A Common Stock, (iv) each Person identified on the Schedule of Holders attached hereto as a “Continuing Equity Owner Party” (such
Persons, collectively, the “Continuing Equity Owner Parties”) and certain other Original Equity Owners will become non-managing members of the Company, but otherwise continue to hold
Common Units in the Company (such persons, collectively, the “Continuing Equity Owners”), and (v) in consideration of the Corporation acquiring the Common Units and becoming the managing member of the Company and for
other good consideration, the Company has provided the Continuing Equity Owners with a redemption right pursuant to which the Continuing Equity Owners can redeem their Common Units for, at the Corporation’s option, shares of Class A Common
Stock or cash on the terms set forth in the LLC Agreement; and 
 WHEREAS, in connection with the IPO and the transactions described above,
the Corporation has agreed to grant to the Holders (as defined below) certain rights with respect to the registration of the Registrable Securities (as defined below) on the terms and conditions set forth herein. 

 NOW, THEREFORE, in consideration of the mutual covenants contained herein and other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties to this Agreement hereby agree as follows: 

Section 1. Definitions. For purposes of this Agreement, the following terms shall have the meanings specified in this
Section 1: 
 “Acquired Common” has the meaning set forth in
Section 9. 
 “Additional Holder” has the meaning set forth in
Section 9, and shall be deemed to include each such Person’s Affiliates, immediate family members, heirs, successors and assigns who may succeed to such Person as a Holder hereunder. 

“Affiliate” of any Person means any other Person controlled by, controlling or under common control with such Person;
provided that the Corporation and its Subsidiaries shall not be deemed to be Affiliates of any Holder. As used in this definition, “control” (including, with its correlative meanings, “controlling,” “controlled
by” and “under common control with”) shall mean possession, directly or indirectly, of power to direct or cause the direction of management or policies (whether through ownership of securities, by contract or otherwise). 

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

“Automatic Shelf Registration Statement” has the meaning set forth in Section 2(a).

 “Business Day” means any day of the year on which national banking institutions in New York are open to the
public for conducting business and are not required or authorized to close. 
 “Capital Stock” means (i) with
respect to any Person that is a corporation, any and all shares, interests or equivalents in capital stock of such corporation (whether voting or nonvoting and whether common or preferred), (ii) with respect to any Person that is not a corporation,
individual or governmental entity, any and all partnership, membership, limited liability company or other equity interests of such Person that confer on the holder thereof the right to receive a share of the profits and losses of, or the
distribution of assets of the issuing Person, and (iii) any and all warrants, rights (including conversion and exchange rights) and options to purchase any security described in the clause (i) or (ii) above. 

“Class A Common Stock” has the meaning set forth in the recitals. 

“Class B Common Stock” means the Corporation’s Class B stock, par value
$0.0001 per share. 
 “Class C Common Stock” means the Corporation’s
Class C stock, par value $0.0001 per share. 
 “Common Units” has the meaning set forth in the recitals. 

  
 2 

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

“Continuing Equity Owner Parties” has the meaning set forth in the recitals, and shall be deemed to include their
respective Affiliates, immediate family members, heirs, successors and assigns who may succeed to such Person as a Holder hereunder.  

“Continuing Equity Owners” has the meaning set forth in the recitals.  

“Controlling Holder” means each of the Controlling Holders as identified on the Schedule of Holders, so long as such
Holders continue to hold Registrable Securities.  
 “Corporation” has the meaning set forth in the
recitals.  
 “Demand Registrations” has the meaning set forth in
Section 2(a).  
 “End of Suspension Notice” has the meaning set
forth in Section 2(f)(ii).  
 “Exchange Act” means the U.S.
Securities Exchange Act of 1934, as amended from time to time, or any successor federal law then in force, together with all rules and regulations promulgated thereunder.  

“FINRA” means the Financial Industry Regulatory Authority.  

“Former Equity Owners” has the meaning set forth in the recitals, and shall be deemed to include their respective
Affiliates, immediate family members, heirs, successors and assigns who may succeed to such Person as a Holder hereunder.  

“Free Writing Prospectus” means a free-writing prospectus, as defined in Rule 405.  

“Holder” means any Person that is a party to this Agreement from time to time, as set forth on the signature pages
hereto.  
 “Holder Indemnified Parties” has the meaning set forth in
Section 7(a).  
 “IPO” has the meaning set forth in the recitals.
 
 “Joinder” has the meaning set forth in Section 9. 

“LLC Agreement” has the meaning set forth in the recitals.  

“Long-Form Registrations” has the meaning set forth in Section 2(a). 

 “Majority of the Registrable Securities” means, with respect to any group of Registrable Securities described in
this Agreement, the Holders of a majority of such group of Registrable Securities, including (i) if the Rook Holders collectively hold at least 10% of all Registrable Securities and any Rook Holder’s Registrable Securities are included
such group, a majority of the Registrable Securities held by all Rook Holders that are included in such group and (ii) if the Searchlight Holders collectively hold at least 10% of all Registrable Securities and any Searchlight Holder’s
Registrable Securities are included such group, a majority of the Registrable Securities held by all Searchlight Holders that are included in such group. 

  
 3 

 “MNPI” means material
non-public information within the meaning of Regulation FD promulgated under the Exchange Act.  

“Original Equity Owner Parties” has the meaning set forth in the recitals, and shall be deemed to include their
respective Affiliates, immediate family members, heirs, successors and assigns who may succeed to such Person as a Holder hereunder.  

“Original Equity Owners” has the meaning set forth in the recitals.  

“Person” means an individual, a partnership, a corporation, a limited liability company, an association, a joint stock
company, a trust, a joint venture, an unincorporated organization and a governmental entity or any department, agency or political subdivision thereof.  

“Piggyback Registrations” has the meaning set forth in Section 3(a).  

“Public Offering” means any sale or distribution to the public of Capital Stock of the Corporation pursuant to an
offering registered under the Securities Act, whether by the Corporation, by Holders and/or by any other holders of the Corporation’s Capital Stock.  

“Registrable Securities” means (i) any Class A Common Stock (A) issued by the Corporation in connection
with the IPO in exchange for the Common Units of the Former Equity Owners or (B) issued by the Corporation in a Share Settlement in connection with (x) the redemption by the Company of Common Units owned by any Continuing Equity Owner
Parties or (y) at the election of the Corporation, in a direct exchange for Common Units owned by any Continuing Equity Owner Party, in each case in accordance with the terms of the LLC Agreement, (ii) any Capital Stock of the Corporation
or of any Subsidiary of the Corporation issued or issuable with respect to the securities referred to in clause (i) above by way of dividend, distribution, split or combination of securities, or any recapitalization, merger,
consolidation or other reorganization, and (iii) any other Shares owned, directly or indirectly, by Holders. As to any particular Registrable Securities owned by any Person, such securities shall cease to be Registrable Securities on the date
such securities (a) have been sold or distributed pursuant to a Public Offering, (b) have been sold in compliance with Rule 144 following the consummation of the IPO, (c) have been repurchased by the Corporation or a Subsidiary of the
Corporation or (d) may be disposed of pursuant to Rule 144 in a single transaction without volume limitation or other restrictions on transfer thereunder. For purposes of this Agreement, a Person shall be deemed to be a Holder, and the
Registrable Securities shall be deemed to be in existence, whenever such Person has the right to acquire, directly or indirectly, such Registrable Securities (upon conversion or exercise in connection with a transfer of securities or otherwise, but
disregarding any restrictions or limitations upon the exercise of such right), whether or not such acquisition has actually been effected, and such Person shall be entitled to exercise the rights of a holder of Registrable Securities hereunder;
provided a holder of Registrable Securities may only request that Registrable Securities in the form of Capital Stock of the Corporation that is registered or to be registered as a class under Section 12 of the Exchange Act be registered
pursuant to this Agreement. For the avoidance of doubt, (x) while Common Units, shares of Class B Stock and/or shares of Class C Stock may constitute Registrable 

  
 4 

 
Securities, under no circumstances shall the Corporation be obligated to register Common Units, shares of Class B Stock or shares of Class C Stock, and only Shares issuable upon
redemption or exchange of Common Units will be registered and (y) in no event will Common Units held by the Blockers (as defined in the LLC Agreement) be considered Registrable Securities.  

“Registration Expenses” has the meaning set forth in Section 6(a).  

“Rook Holder” means each of the Rook Holders as identified on the Schedule of Holders, so long as such Holders
continue to hold Registrable Securities. 
 “Rule 144,” “Rule 158,” “Rule
405” and “Rule 415” mean, in each case, such rule promulgated under the Securities Act (or any successor provision) by the Securities and Exchange Commission, as the same shall be amended from time to time, or
any successor rule then in force.  
 “Schedule of Holders” means the schedule attached to this
Agreement entitled “Schedule of Holders,” which shall reflect each Holder from time to time party to this Agreement.  

“Searchlight Holder” means each of the Searchlight Holders as identified on the Schedule of Holders, so long as such
Holders continue to hold Registrable Securities. 
 “Securities Act” means the U.S. Securities Act of 1933, as
amended from time to time, or any successor federal law then in force, together with all rules and regulations promulgated thereunder.  

“Share Settlement” means “Share Settlement” as defined in the LLC Agreement.  

“Shares” has the meaning set forth in the recitals.  

“Shelf Offering” has the meaning set forth in Section 2(d)(ii).  

“Shelf Offering Notice” has the meaning set forth in Section 2(d)(ii). 

 “Shelf Offering Request” has the meaning set forth in Section 2(d)(ii).
 
 “Shelf Registrable Securities” has the meaning set forth in
Section 2(d)(ii).  
 “Shelf Registration” has the meaning set forth
in Section 2(a).  
 “Shelf Registration Statement” has the meaning
set forth in Section 2(d)(i).  
 “Short-Form Registrations” has the
meaning set forth in Section 2(a).  
 “Subsidiary” means, with
respect to the Corporation, any corporation, limited liability company, partnership, association or other business entity of which (i) if a corporation, a majority of the total voting power of Capital Stock of such Person entitled (without
regard to the occurrence of any contingency) to vote in the election of directors is at the time owned or controlled, directly or indirectly, by the Corporation, or (ii) if a limited liability company, partnership, association or other business
entity, either (x) a majority of the Capital Stock of such Person entitled (without regard to the occurrence of any contingency) to vote in the election of managers, general partners or other oversight board vested with the authority to direct
management of such Person is at the time owned or controlled, directly or indirectly, by the Corporation or (y) the Corporation or one of its Subsidiaries is the sole manager or general partner of such Person.  

  
 5 

 “Suspension Event” has the meaning set forth in
Section 2(f)(ii).  
 “Suspension Notice” has the meaning set forth
in Section 2(f)(ii).  
 “Suspension Period” has the meaning set
forth in Section 2(f)(i).  
 “Underwritten Takedown” has the meaning
set forth in Section 2(d)(ii).  
 “Violation” has the meaning set
forth in Section 7(a). 
 “WKSI” means a “well-known seasoned issuer” as defined
under Rule 405.  
 Section 2. Demand Registrations. 

(a) Requests for Registration. Subject to the terms and conditions of this Agreement, at any time from and after 180 days following the
IPO, each Controlling Holder may request registration under the Securities Act of all or any portion of their Registrable Securities on Form S-1 or any similar long-form registration (“Long-Form
Registrations”), and each Controlling Holder may request registration under the Securities Act of all or any portion of their Registrable Securities on Form S-3 or any similar short-form
registration (“Short-Form Registrations”) if available; provided that the Company shall not be obligated to file registration statements relating to any Long-Form Registration or Short-Form Registration under this
Section 2(a) unless the market value of the Registrable Securities proposed to be registered is at least $15 million (or, if less, such Registrable Securities represent all Registrable Securities then held by the
Controlling Holder requesting such registration). All registrations requested pursuant to this Section 2(a) are referred to herein as “Demand Registrations.” The Controlling Holder making a Demand
Registration may request that the registration be made pursuant to Rule 415 under the Securities Act (a “Shelf Registration”) and, if the Corporation is a WKSI at the time any request for a Demand Registration
is submitted to the Corporation, that such Shelf Registration be an automatic shelf registration statement (as defined in Rule 405 under the Securities Act) (an “Automatic Shelf Registration Statement”). Except to the extent
that Section 2(d) applies, upon receipt of the request for the Demand Registration, the Corporation shall as promptly as reasonably practicable (but in no event later than ten days after receipt of the request for the
Demand Registration) give written notice of the Demand Registration to all other Holders who hold Registrable Securities and, subject to the terms of Section 2(e), shall include in such Demand Registration (and in all
related registrations and qualifications under state blue sky laws and in any related underwriting) all Registrable Securities with respect to which the Corporation has received written requests for inclusion therein within (i) 15 days, in the case
of any notice with respect to a Long-Form Registration, or (ii) ten days, in the case of any notice with respect to a Short-Form Registration, after the receipt of the Corporation’s notice. Each Holder agrees that such Holder shall treat
as confidential the receipt of the notice of Demand Registration and shall not disclose or use the information contained in such notice of Demand Registration without the prior written consent of the Corporation or until such time as the information
contained therein is or becomes available to the public generally, other than as a result of disclosure by the Holder in breach of the terms of this Agreement. Notwithstanding the foregoing, the Corporation shall not be required to take any action
that would otherwise be required under this Section 2 or any similar provision contained in the underwriting agreement entered into in connection with any underwritten Public Offering.  

  
 6 

 (b) Long-Form Registrations. The Controlling Holders shall be entitled to request, in
any twelve-month period, two Long-Form Registrations in which the Corporation shall pay all Registration Expenses, regardless of whether any registration statement is filed or any such Demand Registration is consummated. All Long-Form Registrations
shall be underwritten registrations unless otherwise approved by the applicable Controlling Holder. 
 (c) Short-Form Registrations.
In addition to the Long-Form Registrations described in Section 2(b), each Controlling Holder shall be entitled to request an unlimited number of Short-Form Registrations in which the Corporation shall pay all Registration
Expenses, regardless of whether any registration statement is filed or any such Demand Registration is consummated. Demand Registrations shall be Short-Form Registrations whenever the Corporation is permitted to use any applicable short form and if
the managing underwriters (if any) agree to the use of a Short-Form Registration. After the Corporation has become subject to the reporting requirements of the Exchange Act, the Corporation shall use its reasonable best efforts to make Short-Form
Registrations available for the sale of Registrable Securities. 
 (d) Shelf Registrations. 

(i) Subject to the availability of required financial information, as promptly as practicable after the Corporation receives
written notice of a request for a Shelf Registration, the Corporation shall file with the Securities and Exchange Commission a registration statement under the Securities Act for the Shelf Registration (a “Shelf Registration
Statement”). The Corporation shall use its reasonable best efforts to cause any Shelf Registration Statement to be declared effective under the Securities Act as soon as practicable after the initial filing of such Shelf Registration
Statement, and once effective, the Corporation shall cause such Shelf Registration Statement to remain continuously effective for such time period as is specified in the request by the Holders, but for no time period longer than the period ending on
the earliest of (A) the third anniversary of the initial effective date of such Shelf Registration Statement, (B) the date on which all Registrable Securities covered by such Shelf Registration Statement have been sold pursuant to the
Shelf Registration Statement, and (C) the date as of which there are no longer any Registrable Securities covered by such Shelf Registration Statement in existence. Without limiting the generality of the foregoing, the Corporation shall use its
reasonable best efforts to prepare a Shelf Registration Statement with respect to all of the Registrable Securities owned by or issuable to the Original Equity Owner Parties in accordance with the terms of the LLC Agreement (or such other number of
Registrable Securities specified in writing by the Holder with respect to the Registrable Securities owned by or issuable to such Holder) to enable and cause such Shelf Registration Statement to be filed and maintained with the Securities and
Exchange Commission as soon as practicable after the later to occur of (i) the expiration of the Lock-Up Period (as defined below) and (ii) the Corporation becoming eligible to file a Shelf
Registration Statement for a Short-Form Registration; provided that any of the Original Equity Owner Parties may, with respect to itself, instruct the Corporation in writing not to include in such Shelf

  
 7 

 
Registration Statement the Registrable Securities owned by or issuable to such Holder. In order for any of the Original Equity Owner Parties to be named as a selling securityholder in such Shelf
Registration Statement, the Corporation may require such Holder to deliver all information about such Holder that is required to be included in such Shelf Registration Statement in accordance with applicable law, including Item 507 of Regulation S-K promulgated under the Securities Act. Notwithstanding anything to the contrary in Section 2(d)(ii), any Holder that is named as a selling securityholder in such Shelf Registration
Statement may make a secondary resale under such Shelf Registration Statement without the consent of the Holders representing a Majority of the Registrable Securities or any other Holder if such resale does not require a supplement to the Shelf
Registration Statement. 
 (ii) In the event that a Shelf Registration Statement is effective, Holders representing
Registrable Securities either (a) with a market value of at least $25 million, or (b) that represent at least 10% of the aggregate market value of the Registrable Securities registered pursuant to such Shelf Registration Statement
shall have the right at any time or from time to time to elect to sell pursuant to an offering (including an underwritten offering (an “Underwritten Takedown”)) Registrable Securities available for sale pursuant to such
registration statement (“Shelf Registrable Securities”), so long as the Shelf Registration Statement remains in effect, and the Corporation shall pay all Registration Expenses in connection therewith; provided that
each Controlling Holder shall have the right at any time and from time to time to elect to sell pursuant to an offering (including an Underwritten Takedown) pursuant to a Shelf Offering Request (as defined below) made by such Controlling Holder. The
applicable Holders shall make such election by delivering to the Corporation a written request (a “Shelf Offering Request”) for such offering specifying the number of Shelf Registrable Securities that such Holders desire to
sell pursuant to such offering (the “Shelf Offering”). In the case of an Underwritten Takedown, as promptly as practicable, but no later than two Business Days after receipt of a Shelf Offering Request, the Corporation shall
give written notice (the “Shelf Offering Notice”) of such Shelf Offering Request to all other holders of Shelf Registrable Securities. The Corporation, subject to Section 2(e) and
Section 8 hereof, shall include in such Shelf Offering the Shelf Registrable Securities of any other Holder that shall have made a written request to the Corporation for inclusion in such Shelf Offering (which request shall
specify the maximum number of Shelf Registrable Securities intended to be sold by such Holder) within five Business Days after the receipt of the Shelf Offering Notice. The Corporation shall, as expeditiously as possible (and in any event within ten
Business Days after the receipt of a Shelf Offering Request, unless a longer period is agreed to by the Holders representing a Majority of the Registrable Securities that made the Shelf Offering Request), use its reasonable best efforts to
facilitate such Shelf Offering. Each Holder agrees that such Holder shall treat as confidential the receipt of the Shelf Offering Notice and shall not disclose or use the information contained in such Shelf Offering Notice without the prior written
consent of the Corporation or until such time as the information contained therein is or becomes available to the public generally, other than as a result of disclosure by the Holder in breach of the terms of this Agreement.  

(iii) Notwithstanding the foregoing, if any Holder desires to effect a sale of Shelf Registrable Securities that does not
constitute an Underwritten Takedown, the Holder shall deliver to the Corporation a Shelf Offering Request no later than two Business Days prior to the expected date of the sale of such Shelf Registrable Securities, and subject to the limitations set
forth in Section 2(d)(i), the Corporation shall file and effect an amendment or supplement to its Shelf Registration Statement for such purpose as soon as reasonably practicable. 

  
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 (iv) Notwithstanding the foregoing, if a Controlling Holder wishes to engage
in an underwritten block trade off of a Shelf Registration Statement (either through filing an Automatic Shelf Registration Statement or through a take-down from an existing Shelf Registration Statement), then notwithstanding the foregoing time
periods, such Holders only need to notify the Corporation of the block trade Shelf Offering two Business Days prior to the day such offering is to commence (unless a longer period is agreed to by Holders representing a Majority of the Registrable
Securities wishing to engage in the underwritten block trade) and the Corporation shall promptly notify other Holders and such other Holders must elect whether or not to participate by the next Business Day (i.e., one Business Day prior to the day
such offering is to commence) (unless a longer period is agreed to by the Holders representing a Majority of the Registrable Securities wishing to engage in the underwritten block trade) and the Corporation shall as expeditiously as possible use its
reasonable best efforts to facilitate such offering (which may close as early as two Business Days after the date it commences); provided that Holders representing a Majority of the Registrable Securities wishing to engage in the underwritten
block trade shall use commercially reasonable efforts to work with the Corporation and the underwriters prior to making such request in order to facilitate preparation of the registration statement, prospectus and other offering documentation
related to the underwritten block trade.  
 (v) The Corporation shall, at the request of Holders representing a
Majority of the Registrable Securities covered by a Shelf Registration Statement, file any prospectus supplement or, if the applicable Shelf Registration Statement is an Automatic Shelf Registration Statement, any post-effective amendments and
otherwise take any action necessary to include therein all disclosure and language deemed necessary or advisable by such Holders to effect such Shelf Offering. 

(e) Priority on Demand Registrations and Shelf Offerings. The Corporation shall not include in any Demand Registration or Shelf Offering
any securities that are not Registrable Securities without the prior written consent of Holders representing a Majority of the Registrable Securities included in such registration or offering. If a Demand Registration or a Shelf Offering is an
underwritten offering and the managing underwriters advise the Corporation in writing that in their opinion the number of Registrable Securities and, if permitted hereunder, other securities requested to be included in such offering exceeds the
number of Registrable Securities and other securities, if any, that can be sold therein without adversely affecting the marketability, proposed offering price, timing or method of distribution of the offering, the Corporation shall include in such
registration or offering, as applicable, (i) first, the Registrable Securities of Holders requested to be included in such registration which, in the opinion of the underwriters, can be sold without any such adverse effect, pro rata among the
such Holders on the basis of the number of Registrable Securities owned by each such Holder that such Holder of Registrable Securities shall have requested to be included therein, (ii) second, other securities requested to be included in such
registration which, in the opinion of the underwriters, can be sold without any such adverse effect, 

  
 9 

 
and (iii) third, securities the Corporation requested to be included in such registration for its own account which, in the opinion of the underwriters, can be sold without any such adverse
effect. Alternatively, if the number of Registrable Securities which can be included on a Shelf Registration Statement is otherwise limited by Instruction I.B.6 to Form S-3 (or any successor provision
thereto), the Corporation shall include in such registration or offering prior to the inclusion of any securities which are not Registrable Securities the number of Registrable Securities requested to be included which can be included on such Shelf
Registration Statement in accordance with the requirements of Form S-3, pro rata among the respective Holders thereof on the basis of the amount of Registrable Securities owned by each such Holder that such
Holder of Registrable Securities shall have requested to be included therein. 
 (f) Restrictions on Demand Registration and Shelf
Offerings. 
 (i) The Corporation shall not be obligated to effect any Demand Registration within 90 days after the
effective date of a previous Demand Registration or a previous registration in which Registrable Securities were included pursuant to Section 3. The Corporation may postpone, for up to 60 days from the date of the request,
the filing or the effectiveness of a registration statement for a Demand Registration or suspend the use of a prospectus that is part of a Shelf Registration Statement for up to 60 days from the date of the Suspension Notice (as defined below) and
therefore suspend sales of the Shelf Registrable Securities (such period, the “Suspension Period”) by providing written notice to the Holders of Registrable Securities or Shelf Registrable Securities, as applicable, if
(A) the Corporation’s board of directors determines in its reasonable good faith judgment that the offer or sale of Registrable Securities would reasonably be expected to have a material adverse effect on any proposal or plan by the
Corporation or any Subsidiary to engage in any material acquisition of assets or stock (other than in the ordinary course of business) or any material merger, consolidation, tender offer, recapitalization, reorganization or other transaction
involving the Corporation or any Subsidiary, (B) upon advice of counsel, the sale of Registrable Securities pursuant to the registration statement would require disclosure of MNPI not otherwise required to be disclosed under applicable law, and
(C) either (x) the Corporation has a bona fide business purpose for preserving the confidentiality of such transaction or (y) disclosure of such MNPI would have a material adverse effect on the Corporation or the Corporation’s ability
to consummate such transaction; provided that in such event, the Holders shall be entitled to withdraw such request for a Demand Registration or underwritten Shelf Offering and the Corporation shall pay all Registration Expenses in connection
with such Demand Registration or Shelf Offering. The Corporation may delay a Demand Registration hereunder only once in any twelve-month period, except with the consent of each Controlling Holder. The Corporation also may extend the Suspension
Period with the consent of each Controlling Holder.  
 (ii) In the case of an event that causes the
Corporation to suspend the use of a Shelf Registration Statement as set forth in paragraph (f)(i) above or pursuant to applicable subsections of Section 5(a)(vi) (a “Suspension Event”), the
Corporation shall give a notice to the Holders of Registrable Securities registered pursuant to such Shelf Registration Statement (a “Suspension Notice”) to suspend sales of the Registrable Securities and such notice shall
state generally the basis for the notice and that such suspension shall continue only for so long as the Suspension Event or its effect is continuing. If the basis of such 

  
 10 

 
suspension is nondisclosure of MNPI, the Corporation shall not be required to disclose the subject matter of such MNPI to Holders. A Holder shall not effect any sales of the Registrable
Securities pursuant to such Shelf Registration Statement (or such filings) at any time after it has received a Suspension Notice from the Corporation and prior to receipt of an End of Suspension Notice (as defined below). Each Holder agrees that
such Holder shall treat as confidential the receipt of the Suspension Notice and shall not disclose or use the information contained in such Suspension Notice without the prior written consent of the Corporation or until such time as the information
contained therein is or becomes available to the public generally, other than as a result of disclosure by the Holder in breach of the terms of this Agreement. Holders may recommence effecting sales of the Registrable Securities pursuant to the
Shelf Registration Statement (or such filings) following further written notice to such effect (an “End of Suspension Notice”) from the Corporation, which End of Suspension Notice shall be given by the Corporation to the
Holders and their counsel, if any, promptly following the conclusion of any Suspension Event; provided that in no event shall an End of Suspension Notice be given after the end of the Suspension Period unless with the consent of each
Controlling Holder. 
 (iii) Notwithstanding any provision herein to the contrary, if the Corporation gives a Suspension
Notice with respect to any Shelf Registration Statement pursuant to this Section 2(f), the Corporation agrees that it shall (A) extend the period of time during which such Shelf Registration Statement shall be
maintained effective pursuant to this Agreement by the number of days during the period from the date of receipt by the Holders of the Suspension Notice to and including the date of receipt by the Holders of the End of Suspension Notice, and
(B) provide copies of any supplemented or amended prospectus necessary to resume sales, with respect to each Suspension Event; provided that such period of time shall not be extended beyond the date that there are no longer Registrable
Securities covered by such Shelf Registration Statement. 
 (g) Selection of Underwriters. Controlling Holder(s) initiating any Demand
Registration representing a Majority of the Registrable Securities included in such Demand Registration shall have the right to select the investment banker(s) and manager(s) to administer the offering (including assignment of titles), subject to
the Corporation’s approval not be unreasonably withheld, conditioned or delayed. If any Shelf Offering is an Underwritten Takedown, the Holders representing a Majority of the Registrable Securities participating in such Underwritten Takedown
shall have the right to select the investment banker(s) and manager(s) to administer the offering relating to such Shelf Offering (including assignment of titles), subject to the Corporation’s approval not to be unreasonably withheld,
conditioned or delayed. 
 (h) Fulfillment of Registration Obligations. Notwithstanding any other provision of this Agreement, a
registration requested pursuant to this Section 2 shall not be deemed to have been effected: (i) if the number of Registrable Securities requested to be included in a Long-Form Registration by the initiating
Controlling Holder is cut back by the managing underwriters pursuant to Section 2(e) by more than twenty percent (20%); (ii) if the registration statement is withdrawn without becoming effective in accordance with
Section 2(f) or otherwise without the consent of the initiating Controlling Holder; (iii) if after it has become effective such registration is interfered with by any stop order, injunction or other order or
requirement of the Securities and Exchange Commission or any other governmental authority for any reason other than a misrepresentation or 

  
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an omission by the Holder making such Demand Registration, or an Affiliate of such Holder (other than the Corporation and its controlled Affiliates), and, as a result thereof, the Registrable
Securities requested to be registered cannot be completely distributed in accordance with the plan of distribution set forth in the related registration statement; (iv) if the registration does not contemplate an underwritten offering, if it
does not remain effective for at least 180 days (or such shorter period as will terminate when all securities covered by such registration statement have been sold or withdrawn); or if such registration statement contemplates an underwritten
offering, if it does not remain effective for at least 180 days plus such longer period as, in the opinion of counsel for the underwriter or underwriters, a prospectus is required by applicable law to be delivered in connection with the sale of
Registrable Securities by an underwriter or dealer; or (v) in the event of an underwritten offering, if the conditions to closing (including any condition relating to an overallotment option) specified in the purchase agreement or underwriting
agreement entered into in connection with such registration are not satisfied or waived other than by reason of some wrongful act or omission by the Holder that made the Demand Registration, or an Affiliate of such Holder. 

(i) Other Registration Rights. The Corporation represents and warrants that it is not a party to, or otherwise subject to, any other
agreement granting registration rights to any other Person with respect to any securities of the Corporation. Except as provided in this Agreement, the Corporation shall not grant to any Persons the right to request the Corporation or any Subsidiary
to register any Capital Stock of the Corporation or of any Subsidiary, or any securities convertible or exchangeable into or exercisable for such securities, without the prior written consent of each Controlling Holder. 

Section 3. Piggyback Registrations. 

(a) Right to Piggyback. Following the IPO, whenever the Corporation proposes to register any of its securities under the Securities Act
(other than (i) pursuant to a Demand Registration, (ii) in connection with registrations on Form S-4 or S-8 promulgated by the Securities and Exchange
Commission or any successor or similar forms or (iii) a registration on any form that does not include substantially the same information as would be required to be included in a registration statement covering the sale of Registrable
Securities) and the registration form to be used may be used for the registration of Registrable Securities (a “Piggyback Registration”), the Corporation shall give prompt written notice to all Holders who hold Registrable
Securities of its intention to effect such Piggyback Registration and, subject to the terms of Section 3(c), shall include in such Piggyback Registration (and in all related registrations or qualifications under blue sky
laws and in any related underwriting) all Registrable Securities with respect to which the Corporation has received written requests for inclusion therein within fifteen days after delivery of the Corporation’s notice. 

(b) Piggyback Expenses. The Registration Expenses of the Holders shall be paid by the Corporation in all Piggyback Registrations,
whether or not any such registration became effective. 
 (c) Priority on Primary Registrations. If a Piggyback Registration is an
underwritten primary registration on behalf of the Corporation, and the managing underwriters advise the Corporation in writing that in their opinion the number of securities requested to be included in such registration exceeds the number which can
be sold in such offering without adversely 

  
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affecting the marketability, proposed offering price, timing or method of distribution of the offering, the Corporation shall include in such registration (i) first, the securities the
Corporation proposes to sell, (ii) second, the Registrable Securities requested to be included in such registration which, in the opinion of the underwriters, can be sold without any such adverse effect, pro rata among the Holders on the basis
of the number of Registrable Securities owned by each such Holder that such Holder of Registrable Securities shall have requested to be included therein, and (iii) third, other securities requested to be included in such registration which, in
the opinion of the underwriters, can be sold without any such adverse effect. 
 (d) Selection of Underwriters. If any Piggyback
Registration is an underwritten offering, the selection of investment banker(s) and manager(s) for the offering shall be at the election of the Corporation (in the case of a primary registration) or at the election of the holders of other
Corporation securities requesting such registration (in the case of a secondary registration); provided that Holders representing a Majority of the Registrable Securities included in such Piggyback Registration may request that one or more
investment banker(s) or manager(s) be included in such offering (such request not to be binding on the Corporation or such other initiating holders of Corporation securities). 

(e) Right to Terminate Registration. The Corporation shall have the right to terminate or withdraw any registration initiated by it
under this Section 3 whether or not any Holder has elected to include securities in such registration. The Registration Expenses of such withdrawn registration shall be borne by the Corporation in accordance with
Section 6. 
 Section 4. Lock-Up Agreements. In connection
with the IPO, each Controlling Holder (each a “Lock-Up Party”) has entered into a customary lock-up agreement with Credit Suisse Securities (USA) LLC,
Goldman Sachs & Co. LLC and Citigroup Global Markets, Inc., as representatives (the “Representatives”) of the several underwriters, pursuant to which each Lock-Up Party has agreed to
certain restrictions relating to the shares of Capital Stock and certain other securities held by them (collectively, the “Lock-Up Restrictions”) during the period ending 180 days after the
date of the final prospectus issued in connection with the IPO (such period, the “Lock-Up Period”). In the event that the Representatives consent to the release from the Lock-Up Restrictions of any shares of Capital Stock (or other securities) held by a Lock-Up Party (any such party, the “Released Party,” and any shares of
Capital Stock or other securities so released, the “Released Shares”), such Released Party hereby agrees not to sell or otherwise dispose of any Released Shares unless the same percentage of the total number of outstanding shares of
Class A Common Stock held by each other Lock-Up Party (assuming the exchange of all membership interests of the Company for a corresponding number of shares of Class A Common Stock in accordance with
the LLC Agreement) as is equal to the percentage of the total number of outstanding shares of Class A Common Stock of the Released Party represented by the Released Shares (assuming the exchange of all membership interests of the Company for a
corresponding number of shares of Class A Common Stock in accordance with the LLC Agreement) is immediately and fully released from any Lock-Up Restrictions on the same terms as the Released Shares. The
Corporation may impose stop-transfer instructions with respect to the shares of Capital Stock and other securities subject to the Lock-Up Restrictions until the end of the
Lock-Up Period. 

  
 13 

 Section 5. Registration Procedures. 

(a) Whenever the Holders have requested that any Registrable Securities be registered pursuant to this Agreement or have initiated a Shelf
Offering, (x) such Holders shall, if applicable, cause such Registrable Securities to be exchanged into shares of Class A Common Stock in accordance with the terms of the LLC Agreement prior to sale of such Registrable Securities and
(y) the Corporation shall use its reasonable best efforts to effect the registration and the sale of such Registrable Securities in accordance with the intended method of disposition thereof, and pursuant thereto the Corporation shall as
expeditiously as possible: 
 (i) in accordance with the Securities Act and all applicable rules and regulations promulgated
thereunder, prepare and file with the Securities and Exchange Commission (subject to the availability of required financial information) a registration statement, and all amendments and supplements thereto and related prospectuses, with respect to
such Registrable Securities and use its reasonable best efforts to cause such registration statement to become effective (provided that before filing a registration statement or prospectus or any amendments or supplements thereto, the Corporation
shall furnish to the counsel selected by the Controlling Holder(s) initiating a Demand Registration or, in all other cases, the Holders representing a Majority of the Registrable Securities covered by such registration statement copies of all such
documents proposed to be filed, which documents shall be subject to the review and comment of such counsel); 
 (ii) notify
each holder of Registrable Securities of (A) the issuance by the Securities and Exchange Commission of any stop order suspending the effectiveness of any registration statement or the initiation of any proceedings for that purpose, (B) the
receipt by the Corporation or its counsel of any notification with respect to the suspension of the qualification of the Registrable Securities for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose and
(C) the effectiveness of each registration statement filed hereunder; 
 (iii) prepare and file with the Securities and
Exchange Commission such amendments and supplements to such registration statement and the prospectus used in connection therewith as may be necessary to keep such registration statement effective for a period ending when all of the securities
covered by such registration statement have been disposed of in accordance with the intended methods of distribution by the sellers thereof set forth in such registration statement (but in any event not before the expiration of any longer period
required under the Securities Act or, if such registration statement relates to an underwritten Public Offering, such longer period as in the opinion of counsel for the underwriters a prospectus is required by law to be delivered in connection with
sale of Registrable Securities by an underwriter or dealer) and comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement during such period in accordance with the
intended methods of disposition by the sellers thereof set forth in such registration statement; 
 (iv) furnish to each
seller of Registrable Securities thereunder such number of copies of such registration statement, each amendment and supplement thereto, the prospectus included in such registration statement (including each preliminary prospectus), each Free
Writing Prospectus and such other documents as such seller may reasonably request in order to facilitate the disposition of the Registrable Securities owned by such seller; 

  
 14 

 (v) use its reasonable best efforts to register or qualify such Registrable
Securities under such other securities or blue sky laws of such jurisdictions as any seller reasonably requests and do any and all other acts and things which may be reasonably necessary or advisable to enable such seller to consummate the
disposition in such jurisdictions of the Registrable Securities owned by such seller (provided that the Corporation shall not be required to (A) qualify generally to do business in any jurisdiction where it would not otherwise be required to
qualify but for this subparagraph, (B) consent to general service of process in any such jurisdiction or (C) subject itself to taxation in any such jurisdiction); 

(vi) notify each seller of such Registrable Securities (A) promptly after it receives notice thereof, of the date and time
when such registration statement and each post-effective amendment thereto has become effective or a prospectus or supplement to any prospectus relating to a registration statement has been filed and when any registration or qualification has become
effective under a state securities or blue sky law or any exemption thereunder has been obtained, (B) promptly after receipt thereof, of any request by the Securities and Exchange Commission for the amendment or supplementing of such
registration statement or prospectus or for additional information and (C) at any time when a prospectus relating thereto is required to be delivered under the Securities Act, of the happening of any event as a result of which the prospectus
included in such registration statement contains an untrue statement of a material fact or omits any fact necessary to make the statements therein not misleading, and, subject to Section 2(f), at the request of any such
seller, the Corporation shall prepare a supplement or amendment to such prospectus so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not contain an untrue statement of a material fact or omit to
state any fact necessary to make the statements therein not misleading; 
 (vii) use reasonable best efforts to cause all
such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Corporation are then listed and, if not so listed, to be listed on a securities exchange and, without limiting the generality of the
foregoing, to arrange for at least two market markers to register as such with respect to such Registrable Securities with FINRA; 

(viii) use reasonable efforts to provide a transfer agent and registrar for all such Registrable Securities not later than the
effective date of such registration statement; 
 (ix) enter into and perform such customary agreements (including
underwriting agreements in customary form) and take all such other actions as the Holders representing a Majority of the Registrable Securities being sold or the underwriters, if any, reasonably request in order to expedite or facilitate the
disposition of such Registrable Securities (including, without limitation, effecting a stock split, combination of shares, recapitalization or reorganization); 

  
 15 

 (x) make available for inspection by any seller of Registrable Securities,
any underwriter participating in any disposition pursuant to such registration statement and any attorney, accountant or other agent retained by any such seller or underwriter, all financial and other records, pertinent corporate and business
documents and properties of the Corporation as shall be necessary to enable them to exercise their due diligence responsibility, and cause the Corporation’s officers, directors, employees, agents, representatives and independent accountants to
supply all information reasonably requested by any such seller, underwriter, attorney, accountant or agent in connection with such registration statement; 

(xi) take all reasonable actions to ensure that any Free-Writing Prospectus utilized in connection with any Demand Registration
or Piggyback Registration hereunder complies in all material respects with the Securities Act, is filed in accordance with the Securities Act to the extent required thereby, is retained in accordance with the Securities Act to the extent required
thereby and, when taken together with the related prospectus, shall not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in light of the circumstances under which they were
made, not misleading; 
 (xii) otherwise use its reasonable best efforts to comply with all applicable rules and regulations
of the Securities and Exchange Commission, and make available to its security holders, as soon as reasonably practicable, an earnings statement covering the period of at least twelve months beginning with the first day of the Corporation’s
first full calendar quarter after the effective date of the registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158; 

(xiii) to the extent that a Holder, in its sole and exclusive judgment, might be deemed to be an underwriter of any Registrable
Securities or a controlling person of the Corporation, permit such Holder to participate in the preparation of such registration or comparable statement and allow such Holder to provide language for insertion therein, in form and substance
satisfactory to the Corporation, which in the reasonable judgment of such Holder and its counsel should be included; 
 (xiv)
in the event of the issuance of any stop order suspending the effectiveness of a registration statement, or the issuance of any order suspending or preventing the use of any related prospectus or suspending the qualification of any Class A
Common Stock included in such registration statement for sale in any jurisdiction, use reasonable efforts promptly to obtain the withdrawal of such order; 

(xv) use its reasonable best efforts to cause such Registrable Securities covered by such registration statement to be
registered with or approved by such other governmental agencies or authorities as may be necessary to enable the sellers thereof to consummate the disposition of such Registrable Securities; 

(xvi) cooperate with the Holders of Registrable Securities covered by the registration statement and the managing underwriter
or agent, if any, to facilitate the timely preparation and delivery of certificates (not bearing any restrictive legends) representing securities to be sold under the registration statement and enable such securities to be in such denominations and
registered in such names as the managing underwriter, or agent, if any, or such Holders may request; 

  
 16 

 (xvii) cooperate with each Holder of Registrable Securities covered by the
registration statement and each underwriter or agent participating in the disposition of such Registrable Securities and their respective counsel in connection with any filings required to be made with FINRA; 

(xviii) use its reasonable best efforts to make available the executive officers of the Corporation to participate with the
Holders of Registrable Securities covered by the registration statement and any underwriters in any “road shows” or other selling efforts that may be reasonably requested by the Holders in connection with the methods of distribution for
the Registrable Securities; 
 (xix) in the case of any underwritten Public Offering, use its reasonable best efforts to
obtain one or more cold comfort letters from the Corporation’s independent public accountants in customary form and covering such matters of the type customarily covered by cold comfort letters as the Holders representing a Majority of the
Registrable Securities being sold reasonably request; 
 (xx) in the case of any underwritten Public Offering, use its
reasonable best efforts to provide a legal opinion of the Corporation’s outside counsel, dated the closing date of the Public Offering, in customary form and covering such matters of the type customarily covered by legal opinions of such
nature, which opinion shall be addressed to the underwriters and the Holders of such Registrable Securities being sold; 

(xxi) if the Corporation files an Automatic Shelf Registration Statement covering any Registrable Securities, use its
reasonable best efforts to remain a WKSI (and not become an ineligible issuer (as defined in Rule 405 under the Securities Act)) during the period during which such Automatic Shelf Registration Statement is required to remain effective; 

(xxii) if the Corporation does not pay the filing fee covering the Registrable Securities at the time an Automatic Shelf
Registration Statement is filed, pay such fee at such time or times as the Registrable Securities are to be sold; and 

(xxiii) if the Automatic Shelf Registration Statement has been outstanding for at least three (3) years, at the end of the
third year, file a new Automatic Shelf Registration Statement covering the Registrable Securities, and, if at any time when the Corporation is required to re-evaluate its WKSI status the Corporation determines
that it is not a WKSI, use its reasonable efforts to refile the Shelf Registration Statement on Form S-3 and, if such form is not available, Form S-1 and keep such
registration statement effective during the period during which such registration statement is required to be kept effective. 
 (b) Any
officer of the Corporation who is a Holder agrees that if and for so long as he or she is employed by the Corporation or any Subsidiary thereof, he or she shall participate fully in the sale process in a manner customary and reasonable for persons
in like positions and consistent with his or her other duties with the Corporation and in accordance with applicable law, including the preparation of the registration statement and the preparation and presentation of any road shows. 

  
 17 

 (c) The Corporation may require each Holder requesting, or electing to participate in, any
registration to furnish the Corporation such information regarding such Holder and the distribution of such Registrable Securities as the Corporation may from time to time reasonably request in writing. 

(d) If the Original Equity Owner Parties or any of their respective Affiliates seek to effectuate an
in-kind distribution of all or part of their respective Registrable Securities to their respective direct or indirect equityholders, the Corporation shall, subject to any applicable lock-ups, work with the foregoing persons to facilitate such in-kind distribution in the manner reasonably requested and such distributees shall have the right to become a
party to this Agreement by the joinder in the form of Exhibit A hereto and thereby have all of the rights of such Original Equity Owner Parties under this Agreement, other than the Demand Registration rights of a Controlling Holder. 

Section 6. Registration Expenses. 

(a) The Corporation’s Obligation. All expenses incident to the Corporation’s performance of or compliance with
this Agreement (including, without limitation, all registration, qualification and filing fees, fees and expenses of compliance with securities or blue sky laws, printing expenses, messenger and delivery expenses, fees and disbursements of
custodians, and fees and disbursements of counsel for the Corporation and all independent certified public accountants, underwriters (excluding underwriting discounts and commissions) and other Persons retained by the Corporation) (all such expenses
being herein called “Registration Expenses”), shall be borne as provided in this Agreement, except that the Corporation shall, in any event, pay its internal expenses (including, without limitation, all salaries and expenses
of its officers and employees performing legal or accounting duties), the expense of any annual audit or quarterly review, the expense of any liability insurance and the expenses and fees for listing the securities to be registered on each
securities exchange on which similar securities issued by the Corporation are then listed. Each Person that sells securities pursuant to a Demand Registration or Piggyback Registration hereunder shall bear and pay all underwriting discounts and
commissions applicable to the securities sold for such Person’s account. 
 (b) Counsel Fees and Disbursements. In connection
with each Demand Registration, each Piggyback Registration and each Shelf Offering, the Corporation shall reimburse the Holders of Registrable Securities included in such registration for the reasonable fees and disbursements of not more than one
law firm (for each of the Searchlight Holders, if participating in such registration, and the Rook Holders, if participating in such registration. 

  
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 Section 7. Indemnification and Contribution. 

(a) By the Corporation. The Corporation shall indemnify and hold harmless, to the extent permitted by law, each Holder, such
Holder’s officers, directors, managers, employees, partners, stockholders, members, trustees, Affiliates, agents and representatives, and each Person who controls such Holder (within the meaning of the Securities Act) (the “Holder
Indemnified Parties”) against all losses, claims, actions, damages, liabilities and expenses (including with respect to actions or proceedings, whether commenced or threatened, and including reasonable attorney fees and expenses) caused
by, resulting from, arising out of, based upon or related to any of the following statements, omissions or violations (each a “Violation”) by the Corporation: (i) any untrue or alleged untrue statement of material fact
contained in (A) any registration statement, prospectus, preliminary prospectus or Free-Writing Prospectus, or any amendment thereof or supplement thereto or (B) any application or other document or communication (in this
Section 7, collectively called an “application”) executed by or on behalf of the Corporation or based upon written information furnished by or on behalf of the Corporation filed in any jurisdiction
in order to qualify any securities covered by such registration under the securities laws thereof, (ii) any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein not misleading
or (iii) any violation or alleged violation by the Corporation of the Securities Act or any other similar federal or state securities laws or any rule or regulation promulgated thereunder applicable to the Corporation and relating to action or
inaction required of the Corporation in connection with any such registration, qualification or compliance. In addition, the Corporation will reimburse such Holder Indemnified Party for any legal or any other expenses reasonably incurred by them in
connection with investigating or defending any such losses. Notwithstanding the foregoing, the Corporation shall not be liable in any such case to the extent that any such losses result from, arise out of, are based upon, or relate to an untrue
statement or alleged untrue statement, or omission or alleged omission, made in such registration statement, any such prospectus, preliminary prospectus or Free-Writing Prospectus or any amendment or supplement thereto, or in any application, in
reliance upon, and in conformity with, written information prepared and furnished in writing to the Corporation by such Holder Indemnified Party expressly for use therein or by such Holder Indemnified Party’s failure to deliver a copy of the
registration statement or prospectus or any amendments or supplements thereto after the Corporation has furnished such Holder Indemnified Party with a sufficient number of copies of the same. In connection with an underwritten offering, the
Corporation shall indemnify such underwriters, their officers and directors, and each Person who controls such underwriters (within the meaning of the Securities Act) to the same extent as provided above with respect to the indemnification of the
Holder Indemnified Parties.  
 (b) By Each Holder. In connection with any registration statement in which a Holder is
participating, each such Holder shall furnish to the Corporation in writing such information and affidavits as the Corporation reasonably requests for use in connection with any such registration statement or prospectus and, to the extent permitted
by law, shall indemnify the Corporation, its officers, directors, managers, employees, agents and representatives, and each Person who controls the Corporation (within the meaning of the Securities Act) against any losses, claims, damages,
liabilities and expenses resulting from any untrue or alleged untrue statement of material fact contained in the registration statement, prospectus or preliminary prospectus or any amendment thereof or supplement thereto or any omission or alleged
omission of a material fact required to be stated therein or necessary to make the statements therein not misleading, but only to the extent that such untrue statement or omission is contained in any information or affidavit so furnished in writing
by such Holder; provided that the obligation to indemnify shall be individual, not joint and several, for each Holder and shall be limited to the net amount of proceeds received by such Holder from the sale of Registrable Securities pursuant
to such registration statement. 

  
 19 

 (c) Claim Procedure. Any Person entitled to indemnification hereunder shall
(i) give prompt written notice to the indemnifying party of any claim with respect to which it seeks indemnification (provided that the failure to give prompt notice shall impair any Person’s right to indemnification hereunder only to the
extent such failure has prejudiced the indemnifying party) and (ii) unless in such indemnified party’s reasonable judgment a conflict of interest between such indemnified and indemnifying parties may exist with respect to such claim,
permit such indemnifying party to assume the defense of such claim with counsel reasonably satisfactory to the indemnified party. If such defense is assumed, the indemnifying party shall not be subject to any liability for any settlement made by the
indemnified party without its consent (but such consent shall not be unreasonably withheld, conditioned or delayed). An indemnifying party who is not entitled to, or elects not to, assume the defense of a claim shall not be obligated to pay the fees
and expenses of more than one counsel for all parties indemnified by such indemnifying party with respect to such claim, unless in the reasonable judgment of any indemnified party a conflict of interest may exist between such indemnified party and
any other of such indemnified parties with respect to such claim. In such instance, the conflicted indemnified parties shall have a right to retain one separate counsel, chosen by the Holders representing a Majority of the Registrable Securities
included in the registration by such Holders that are conflicted indemnified parties, at the expense of the indemnifying party. 
 (d)
Contribution. If the indemnification provided for in this Section 7 is held by a court of competent jurisdiction to be unavailable to, or is insufficient to hold harmless, an indemnified party or is otherwise
unenforceable with respect to any loss, claim, damage, liability or action referred to herein, then the indemnifying party shall contribute to the amounts paid or payable by such indemnified party as a result of such loss, claim, damage, liability
or action in such proportion as is appropriate to reflect the relative fault of the indemnifying party on the one hand and of the indemnified party on the other hand in connection with the statements or omissions which resulted in such loss, claim,
damage, liability or action as well as any other relevant equitable considerations; provided that the maximum amount of liability in respect of such contribution shall be limited, in the case of each seller of Registrable Securities, to an amount
equal to the net proceeds actually received by such seller from the sale of Registrable Securities effected pursuant to such registration. The relative fault of the indemnifying party and of the indemnified party shall be determined by reference to,
among other things, whether the untrue or alleged untrue statement of a material fact or the omission to state a material fact relates to information supplied by the indemnifying party or by the indemnified party and the parties’ relative
intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The parties hereto agree that it would not be just or equitable if the contribution pursuant to this Section 7(d)
were to be determined by pro rata allocation or by any other method of allocation that does not take into account such equitable considerations. The amount paid or payable by an indemnified party as a result of the losses, claims, damages,
liabilities or expenses referred to herein shall be deemed to include any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending against any action or claim which is the subject hereof. No
person guilty of fraudulent misrepresentation (within the meaning of Section 11(t) of the Securities Act) shall be entitled to contribution from any Person who is not guilty of such fraudulent misrepresentation. 

  
 20 

 (e) Release. No indemnifying party shall, except with the consent of the indemnified
party, consent to the entry of any judgment or enter into any settlement that does not include as an unconditional term thereof giving by the claimant or plaintiff to such indemnified party of a release from all liability in respect to such claim or
litigation. Notwithstanding anything to the contrary in this Section 7, an indemnifying party shall not be liable for any amounts paid in settlement of any loss, claim, damage, liability, or action if such settlement is
effected without the consent of the indemnifying party, such consent not to be unreasonably withheld, conditioned or delayed. 
 (f) Non-exclusive Remedy; Survival. The indemnification and contribution provided for under this Agreement shall be in addition to any other rights to indemnification or contribution that any indemnified party may
have pursuant to law or contract and shall remain in full force and effect regardless of any investigation made by or on behalf of the indemnified party or any officer, director or controlling Person of such indemnified party and shall survive the
transfer of Registrable Securities and the termination or expiration of this Agreement. Notwithstanding the foregoing, to the extent that the provisions on indemnification and contribution contained in the underwriting agreement entered into in
connection with the underwritten public offering are in conflict with the foregoing provisions, the provisions in the underwriting agreement shall control. 

Section 8. Underwritten Registrations. 

(a) Participation. No Person may participate in any Public Offering hereunder which is underwritten unless such Person (i) agrees
to sell such Person’s securities on the basis provided in any underwriting arrangements approved by the Person or Persons entitled hereunder to approve such arrangements (including, without limitation, pursuant to any over-allotment or
“green shoe” option requested by the underwriters; provided that no Holder shall be required to sell more than the number of Registrable Securities such Holder has requested to include) and (ii) completes and executes all
questionnaires, powers of attorney, indemnities, underwriting agreements, custody agreements and other documents required under the terms of such underwriting arrangements. Each Holder shall execute and deliver such other agreements as may be
reasonably requested by the Corporation and the lead managing underwriter(s) that are consistent with such Holder’s obligations under Section 4, Section 5 and this
Section 8(a) or that are necessary to give further effect thereto. To the extent that any such agreement is entered into pursuant to, and consistent with, Section 4 and this
Section 8(a), the respective rights and obligations created under such agreement shall supersede the respective rights and obligations of the Holders, the Corporation and the underwriters created pursuant to this
Section 8(a). 
 (b) Price and Underwriting Discounts. In the case of an underwritten Demand Registration or
Underwritten Takedown requested by the Holders pursuant to this Agreement, the price, underwriting discount and other financial terms of the related underwriting agreement for the Registrable Securities shall be determined by the Holders
representing a Majority of the Registrable Securities included in such underwritten offering. 
 (c) Suspended Distributions. Each
Person that is participating in any registration under this Agreement, upon receipt of any notice from the Corporation of the happening of any event of the kind described in Section 5(a)(vi)(B) or (C), shall
immediately discontinue the disposition of its Registrable Securities pursuant to the registration statement until such Person’s receipt of the copies of a supplemented or amended prospectus as contemplated by
Section 5(a)(vi). In the event the Corporation has given any such notice, the applicable time period set forth in Section 5(a)(iii) during which a Registration Statement is to remain
effective shall be extended by the number of days during the period from and including the date of the giving of such notice pursuant to this Section 8(c) to and including the date when each seller of Registrable
Securities covered by such registration statement shall have received the copies of the supplemented or amended prospectus contemplated by Section 5(a)(vi). 

  
 21 

 Section 9. Additional Parties; Joinder. Subject to the prior written consent of
each Controlling Holder, the Corporation may make any Person who acquires Class A Common Stock or rights to acquire Class A Common Stock from the Corporation after the date hereof (including without limitation any Person who acquires
Common Units) a party to this Agreement (each such Person, an “Additional Holder”) and to succeed to all of the rights and obligations of a Holder under this Agreement by obtaining an executed joinder to this Agreement from
such Additional Holder in the form of Exhibit A attached hereto (a “Joinder”). Upon the execution and delivery of a Joinder by such Additional Holder, the Class A Common Stock of the Corporation acquired by such
Additional Holder or issuable upon redemption or exchange of Common Units acquired by such Additional Holder (the “Acquired Common”) shall be Registrable Securities to the extent provided herein, such Additional Holder shall
be a Holder under this Agreement with respect to the Acquired Common, and the Corporation shall add such Additional Holder’s name and address to the Schedule of Holders and circulate such information to the parties to this Agreement. 

Section 10. Rule 144. At all times after the Corporation has filed a registration statement with the Securities and Exchange
Commission pursuant to the requirements of either the Securities Act or the Exchange Act, the Corporation shall file all reports required to be filed by it under the Securities Act and the Exchange Act and shall take such further action as any
Holder may reasonably request, including (i) instructing the transfer agent for the Registrable Securities to remove restrictive legends from any Registrable Securities sold pursuant to Rule 144 (to the extent such removal is permitted under
Rule 144 and other applicable law), and (ii) cooperating with the Holder of such Registrable Securities to facilitate the transfer of such securities through the facilities of The Depository Trust Company, in such amounts and credited to such
accounts as such Holder may request (or, if applicable, the preparation and delivery of certificates representing such securities, in such denominations and registered in such names as such Holder may request), all to the extent required to enable
the Holders to sell Registrable Securities pursuant to Rule 144. Upon request, the Corporation shall deliver to any Holder a written statement as to whether it has complied with such requirements. 

Section 11. Subsidiary Public Offering. If, after an initial Public Offering of the Capital Stock of one of its Subsidiaries
(including the Company), the Corporation distributes securities of such Subsidiary to its equityholders, then the rights and obligations of the Corporation pursuant to this Agreement shall apply, mutatis mutandis, to such Subsidiary, and the
Corporation shall cause such Subsidiary to comply with such Subsidiary’s obligations under this Agreement. 
 Section 12.
Transfer of Registrable Securities. Notwithstanding anything to the contrary contained herein, except in the case of (i) a transfer to the Corporation, (ii) a transfer by any Original Equity Owner Party or any of its Affiliates to
its respective equityholders, (iii) a Public Offering, (iv) a sale pursuant to Rule 144 after the completion of the IPO or (v) a transfer in connection with a sale of the Corporation, prior to transferring any Registrable Securities
to any Person (including, without limitation, by operation of law), the transferring Holder shall cause the prospective transferee to execute and deliver to the Corporation a Joinder agreeing to be bound by the terms of this Agreement. Any transfer
or attempted transfer of any Registrable Securities in violation of any provision of this Agreement shall be void, and the Corporation shall not record such transfer on its books or treat any purported transferee of such Registrable Securities as
the owner thereof for any purpose. 

  
 22 

 Section 13. MNPI Provisions. 

(a) Each Holder acknowledges that the provisions of this Agreement that require communications by the Corporation or other Holders to such
Holder may result in such Holder and its Representatives (as defined below) acquiring MNPI (which may include, solely by way of illustration, the fact that an offering of the Corporation’s securities is pending or the number of Corporation
securities or the identity of the selling Holders). 
 (b) Each Holder agrees that it will maintain the confidentiality of such MNPI and, to
the extent such Holder is not a natural person, such confidential treatment shall be in accordance with procedures adopted by it in good faith to protect confidential information of third parties delivered to such Holder
(“Policies”); provided that a holder may deliver or disclose MNPI to (i) its directors, officers, employees, agents, attorneys, affiliates and financial and other advisors (collectively, the
“Representatives”), but solely to the extent such disclosure reasonably relates to its evaluation of exercise of its rights under this Agreement and the sale of any Registrable Securities in connection with the subject of the
notice, (ii) any federal or state regulatory authority having jurisdiction over such Holder, (iii) any Person if necessary to effect compliance with any law, rule, regulation or order applicable to such Holder, (iv) in response to any
subpoena or other legal process, or (v) in connection with any litigation to which such Holder is a party; provided further, that in the case of clause (i), the recipients of such MNPI are subject to the Policies or agree to hold
confidential the MNPI in a manner substantially consistent with the terms of this Section 13 and that in the case of clauses (ii) through (v), such disclosure is required by law and such Holder shall
promptly notify the Corporation of such disclosure to the extent such Holder is legally permitted to give such notice.  
 (c) Each
Holder shall have the right, at any time and from time to time (including after receiving information regarding any potential Public Offering), to elect to not receive any notice that the Corporation or any other Holders otherwise are required to
deliver pursuant to this Agreement by delivering to the Corporation a written statement signed by such Holder that it does not want to receive any notices hereunder (an “Opt-Out
Request”); in which case and notwithstanding anything to the contrary in this Agreement the Corporation and other Holders shall not be required to, and shall not, deliver any notice or other information required to be provided to
Holders hereunder to the extent that the Corporation or such other Holders reasonably expect would result in a Holder acquiring MNPI. An Opt-Out Request may state a date on which it expires or, if no such date
is specified, shall remain in effect indefinitely. A Holder who previously has given the Corporation an Opt-Out Request may revoke such request at any time, and there shall be no limit on the ability of a
Holder to issue and revoke subsequent Opt-Out Requests; provided that each Holder shall use commercially reasonable efforts to minimize the administrative burden on the Corporation arising in connection
with any such Opt-Out Requests. 

  
 23 

 Section 14. General Provisions. 

(a) Amendments and Waivers. Except as otherwise provided herein, the provisions of this Agreement may be amended, modified, terminated
or waived only with the prior written consent of the Corporation and each Controlling Holder; provided that no such amendment, modification, termination or waiver that would materially and adversely affect a Holder in a manner materially
different than any other Holder (provided that the accession by Additional Holders to this Agreement pursuant to Section 9 shall not be deemed to adversely affect any Holder), shall be effective against such Holder
without the consent of such Holder that is materially and adversely affected thereby. The failure or delay of any Person to enforce any of the provisions of this Agreement shall in no way be construed as a waiver of such provisions and shall not
affect the right of such Person thereafter to enforce each and every provision of this Agreement in accordance with its terms. A waiver or consent to or of any breach or default by any Person in the performance by that Person of his, her or its
obligations under this Agreement shall not be deemed to be a consent or waiver to or of any other breach or default in the performance by that Person of the same or any other obligations of that Person under this Agreement. 

(b) Remedies. The parties to this Agreement shall be entitled to enforce their rights under this Agreement specifically (without posting
a bond or other security), to recover damages caused by reason of any breach of any provision of this Agreement and to exercise all other rights existing in their favor. The parties hereto agree and acknowledge that a breach of this Agreement would
cause irreparable harm and money damages would not be an adequate remedy for any such breach and that, in addition to any other rights and remedies existing hereunder, any party shall be entitled to specific performance and/or other injunctive
relief from any court of law or equity of competent jurisdiction (without posting any bond or other security) in order to enforce or prevent violation of the provisions of this Agreement. 

(c) Severability. Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid
under applicable law, but if any provision of this Agreement is held to be prohibited, invalid, illegal or unenforceable in any respect under any applicable law or regulation in any jurisdiction, such prohibition, invalidity, illegality or
unenforceability shall not affect the validity, legality or enforceability of any other provision of this Agreement in such jurisdiction or in any other jurisdiction, but this Agreement shall be reformed, construed and enforced in such jurisdiction
as if such prohibited, invalid, illegal or unenforceable provision had never been contained herein. 
 (d) Entire Agreement. Except as
otherwise provided herein, this Agreement contains the complete agreement and understanding among the parties hereto with respect to the subject matter hereof and supersedes and preempts any prior understandings, agreements or representations by or
among the parties hereto, written or oral, which may have related to the subject matter hereof in any way. 
 (e) Successors and
Assigns. This Agreement shall bind and inure to the benefit and be enforceable by the Corporation and its successors and assigns and the Holders and their respective successors and assigns (whether so expressed or not). In addition, whether or
not any express assignment has been made, the provisions of this Agreement which are for the benefit Holders are also for the benefit of, and enforceable by, any subsequent or successor Holder. 

  
 24 

 (f) Notices. Any notice, demand or other communication to be given under or by reason
of the provisions of this Agreement shall be in writing and shall be deemed to have been given (i) when delivered personally to the recipient, (ii) when sent by confirmed electronic mail or facsimile if sent during normal business hours of
the recipient but, if not, then on the next Business Day, (iii) one Business Day after it is sent to the recipient by reputable overnight courier service (charges prepaid) or (iv) three Business Days after it is mailed to the recipient by
first class mail, return receipt requested. Such notices, demands and other communications shall be sent to the Corporation at the address specified below and to any Original Equity Owner Party or to any other party subject to this Agreement at such
address as indicated on the Schedule of Holders, or at such address or to the attention of such other Person as the recipient party has specified by prior written notice to the sending party. Any party may change such party’s address for
receipt of notice by providing prior written notice of the change to the sending party as provided herein. The Corporation’s address is: 

Shift4 Payments, Inc. 
 2202 N.
Irving St. 
 Allentown, Pennsylvania 18109 

Attn: General Counsel 
 With a
copy to: 
 Latham & Watkins LLP 

885 Third Avenue 
 New York, New
York 10022 
 Attn: Marc D. Jaffe, Esq. 

Facsimile: (212) 751-4864 

or to such other address or to the attention of such other Person as the recipient party has specified by prior written notice to the sending party. 

(g) Business Days. If any time period for giving notice or taking action hereunder expires on a day that is not a Business Day, the time
period shall automatically be extended to the immediately following Business Day. 
 (h) Governing Law. The corporate law of the State
of Delaware shall govern all issues and questions concerning the relative rights of the Corporation and its stockholders. All other issues and questions concerning the construction, validity, interpretation and enforcement of this Agreement and the
exhibits and schedules hereto shall be governed by, and construed in accordance with, the laws of the State of New York, without giving effect to any choice of law or conflict of law rules or provisions (whether of the State of New York or any other
jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of New York. 
 (i) MUTUAL WAIVER OF
JURY TRIAL. AS A SPECIFICALLY BARGAINED FOR INDUCEMENT FOR EACH OF THE PARTIES HERETO TO ENTER INTO THIS AGREEMENT (AFTER HAVING THE OPPORTUNITY TO CONSULT WITH COUNSEL), EACH PARTY HERETO EXPRESSLY WAIVES THE RIGHT TO TRIAL BY JURY IN ANY
LAWSUIT OR PROCEEDING RELATING TO OR ARISING IN ANY WAY FROM THIS AGREEMENT OR THE MATTERS CONTEMPLATED HEREBY. 

  
 25 

 (j) CONSENT TO JURISDICTION AND SERVICE OF PROCESS. EACH OF THE PARTIES IRREVOCABLY
SUBMITS TO THE NON-EXCLUSIVE JURISDICTION OF THE FEDERAL COURTS OF THE UNITED STATES OF AMERICA LOCATED IN THE CITY AND COUNTY OF NEW YORK BOROUGH OF MANHATTAN, FOR THE PURPOSES OF ANY SUIT, ACTION OR OTHER
PROCEEDING ARISING OUT OF THIS AGREEMENT, ANY RELATED AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY OR THEREBY. EACH OF THE PARTIES HERETO FURTHER AGREES THAT SERVICE OF ANY PROCESS, SUMMONS, NOTICE OR DOCUMENT BY U.S. REGISTERED MAIL TO SUCH
PARTY’S RESPECTIVE ADDRESS SET FORTH ABOVE SHALL BE EFFECTIVE SERVICE OF PROCESS FOR ANY ACTION, SUIT OR PROCEEDING WITH RESPECT TO ANY MATTERS TO WHICH IT HAS SUBMITTED TO JURISDICTION IN THIS PARAGRAPH. EACH OF THE PARTIES HERETO IRREVOCABLY
AND UNCONDITIONALLY WAIVES ANY OBJECTION TO THE LAYING OF VENUE OF ANY ACTION, SUIT OR PROCEEDING ARISING OUT OF THIS AGREEMENT, ANY RELATED DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY AND THEREBY IN THE UNITED STATES DISTRICT COURT FOR THE
DISTRICT OF DELAWARE, AND HEREBY AND THEREBY FURTHER IRREVOCABLY AND UNCONDITIONALLY WAIVES AND AGREES NOT TO PLEAD OR CLAIM IN ANY SUCH COURT THAT ANY SUCH ACTION, SUIT OR PROCEEDING BROUGHT IN ANY SUCH COURT HAS BEEN BROUGHT IN AN INCONVENIENT
FORUM. 
 (k) No Recourse. Notwithstanding anything to the contrary in this Agreement, the Corporation and each Holder agrees and
acknowledges that no recourse under this Agreement or any documents or instruments delivered in connection with this Agreement, shall be had against any current or future director, officer, employee, general or limited partner or member of any
Holder or of any Affiliate or assignee thereof, whether by the enforcement of any assessment or by any legal or equitable proceeding, or by virtue of any statute, regulation or other applicable law, it being expressly agreed and acknowledged that no
personal liability whatsoever shall attach to, be imposed on or otherwise be incurred by any current or future officer, agent or employee of any Holder or any current or future member of any Holder or any current or future director, officer,
employee, partner or member of any Holder or of any Affiliate or assignee thereof, as such for any obligation of any Holder under this Agreement or any documents or instruments delivered in connection with this Agreement for any claim based on, in
respect of or by reason of such obligations or their creation. 
 (l) Descriptive Headings; Interpretation. The descriptive headings
of this Agreement are inserted for convenience only and do not constitute a part of this Agreement. The use of the word “including” in this Agreement shall be by way of example rather than by limitation. 

(m) No Strict Construction. The language used in this Agreement shall be deemed to be the language chosen by the parties hereto to
express their mutual intent, and no rule of strict construction shall be applied against any party. 

  
 26 

 (n) Counterparts. This Agreement may be executed in multiple counterparts, any one of
which need not contain the signature of more than one party, but all such counterparts taken together shall constitute one and the same agreement. 

(o) Electronic Delivery. This Agreement, the agreements referred to herein, and each other agreement or instrument entered into in
connection herewith or therewith or contemplated hereby or thereby, and any amendments hereto or thereto, to the extent executed and delivered by means of a photographic, photostatic, facsimile or similar reproduction of such signed writing using a
facsimile machine or electronic mail shall be treated in all manner and respects as an original agreement or instrument and shall be considered to have the same binding legal effect as if it were the original signed version thereof delivered in
person. At the request of any party hereto or to any such agreement or instrument, each other party hereto or thereto shall re-execute original forms thereof and deliver them to all other parties. No party
hereto or to any such agreement or instrument shall raise the use of a facsimile machine or electronic mail to deliver a signature or the fact that any signature or agreement or instrument was transmitted or communicated through the use of a
facsimile machine or electronic mail as a defense to the formation or enforceability of a contract and each such party forever waives any such defense. 

(p) Further Assurances. In connection with this Agreement and the transactions contemplated hereby, each Holder shall execute and
deliver any additional documents and instruments and perform any additional acts that may be necessary or appropriate to effectuate and perform the provisions of this Agreement and the transactions contemplated hereby. 

(q) No Inconsistent Agreements. The Corporation shall not hereafter enter into any agreement with respect to its securities which is
inconsistent with or violates the rights granted to the Holders in this Agreement. 
 * * * * * 

  
 27 

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

			
	SHIFT4 PAYMENTS, INC.
		
	By:	 	  

	Name:	 	Jared Isaacman
	Title:	 	Chief Executive Officer

 [Signature Page to Registration Rights Agreement] 

 
			
	SEARCHLIGHT CAPITAL PARTNERS, L.P.
	
	By: [ ● ],
	its [ ● ]

 
			
		
	By:	 	  

	Name:	 	
	Title:	 	

 
			
	
	SEARCHLIGHT CAPITAL II, L.P.
	
	By: [ ● ],
	its [ ● ]

 
			
		
	By:	 	  

	Name:	 	
	Title:	 	

 
			
	
	SEARCHLIGHT CAPITAL II PV, L.P.
	
	By: [ ● ],
	its [ ● ]

 
			
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 [Signature Page to
Registration Rights Agreement] 

 
			
	 ROOK HOLDINGS, INC.,
 a
Delaware corporation

 
			
		
	By:	 	  

	Name:	 	Jared Isaacman
	Title:	 	[ ● ]

  
 [Signature Page to
Registration Rights Agreement] 

 
			
	FPOS HOLDING CO. INC.

 
			
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 [Signature Page to
Registration Rights Agreement] 

 
			
	Jared Isaacman
		
	By:	 	  

  
 [Signature Page to
Registration Rights Agreement] 

 SCHEDULE OF HOLDERS 

 

					
	 Holder
	  	 Controlling Holder?
	  	 Continuing Equity Owner

Party/
 Former Equity
Owner

	Searchlight Capital Partners II GP LLC.*	  	Yes	  	Continuing Equity Owner Party
	Searchlight Capital Partners II GP L.P.*	  	Yes	  	Former Equity Owner
	Searchlight Capital II, L.P.*	  	Yes	  	Continuing Equity Owner Party
	Searchlight Capital II PV L.P.*	  	Yes	  	Continuing Equity Owner Party
	SC II GWN Holdings, Inc.*	  	Yes	  	Former Equity Owner
	SC II PV GWN Holdings, Inc.*	  	Yes	  	Former Equity Owner
	SC II GWN, L.P.*	  	Yes	  	Continuing Equity Owner Party
	SC II PV GWN, L.P.*	  	Yes	  	Continuing Equity Owner Party
	Searchlight II GWN, L.P.*	  	Yes	  	Continuing Equity Owner Party
	Rook Holdings, Inc.†	  	Yes	  	Continuing Equity Owner Party
	FPOS Holding Co. Inc.	  	No	  	Former Equity Owner
	Jared Isaacman†	  	Yes	  	Former Equity Owner

  

	*	 Searchlight Holder 

	†	 Rook Holder 

  
 33 

 EXHIBIT A 

REGISTRATION RIGHTS AGREEMENT JOINDER 

The undersigned is executing and delivering this Joinder pursuant to the Registration Rights Agreement dated as of [ ● ], 2020 (as the same
may hereafter be amended, the “Registration Rights Agreement”), among Shift4 Payments, Inc., a Delaware corporation (the “Corporation”), and the other person named as parties therein. 

 By executing and delivering this Joinder to the Corporation, and upon acceptance hereof by the Corporation upon the execution of a counterpart hereof,
the undersigned hereby agrees to become a party to, to be bound by, and to comply with the provisions of the Registration Rights Agreement as a Holder of Registrable Securities in the same manner as if the undersigned were an original signatory to
the Registration Rights Agreement, and the undersigned’s shares of Class A Common Stock shall be included as Registrable Securities under the Registration Rights Agreement to the extent provided therein. The Corporation is directed to add
the address below the undersigned’s signature on this Joinder to the Schedule of Holders attached to the Registration Rights Agreement. 
 Accordingly,
the undersigned has executed and delivered this Joinder as of the day of _______________, 20__. 
  

	
	Signature of Stockholder
	
	  

	
	Print Name of Stockholder
	Its:
	
	Address:

 Agreed and Accepted as of _______________, 20__ 

 

			
	Shift4 Payments, Inc.

			
		
	By:	 	  

	Name:	 	
	Its:	 	

  
 34

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