Document:

EX-10.1

 Exhibit 10.1 

FOURTH AMENDMENT 

FOURTH AMENDMENT, dated as of December 15, 2016 (this “Amendment”), to that certain Amended and Restated Credit
Agreement, dated as of December 18, 2012 (as amended by the First Amendment thereto dated as of December 18, 2012, the Second Amendment thereto dated as of May 8, 2015 and the Third Amendment thereto dated as of June 13, 2016,
the “Credit Agreement”) among CINEMARK HOLDINGS, INC. (the “Parent”), CINEMARK USA, INC. (the “Borrower”), the several banks and other financial institutions party thereto (the
“Lenders”), BARCLAYS BANK PLC, as administrative agent for the Lenders (in such capacity, the “Administrative Agent”), and the other agents party thereto. Unless otherwise specifically defined herein, each
term used herein which is defined in the Credit Agreement has the meaning assigned to such term in the Credit Agreement. 
 RECITALS:

 WHEREAS, the Borrower, the Lenders and others are party to the Credit Agreement. 

WHEREAS, the Borrower has engaged Barclays Bank PLC (“Barclays”), to act as the sole lead arranger and sole bookrunner
in structuring and facilitating this Amendment. 
 WHEREAS, the Borrower has requested that all of the outstanding Term Loans (the
“Existing Term Loans”, and the Lenders of such Existing Term Loans, collectively, the “Existing Term Lenders”) be refinanced and/or replaced with a new term loan facility (the “Amended Term Loan
Facility”) by obtaining New Term Loan Commitments (as defined herein). 
 WHEREAS, the penultimate paragraph of
Section 10.1 of the Credit Agreement permits the Borrower to amend the Credit Agreement with the written consent of the Administrative Agent, the Borrower and the Lenders providing Replacement Term Loans to refinance the Existing Term Loans
with the proceeds of the Amended Term Loan Facility. 
 WHEREAS, upon the occurrence of the Effective Date (as defined below), the
new term loans under the Amended Term Loan Facility (such new loans comprising the Continued Term Loans and the Additional Term Loans (each, as defined below), collectively, the “New Term Loans”) will replace and refinance the
Existing Term Loans in their entirety. 
 WHEREAS, each Existing Term Lender that executes and delivers a signature page to this
Amendment in the form of Exhibit A-1 hereto (a “Continuing Term Lender Addendum (Cashless Roll)”), and in connection therewith agrees to continue all of its Existing Term Loans as New Term
Loans (such continued Term Loans, the “Continued Term Loans” and such Lenders, collectively, the “Continuing Term Lenders”), will thereby (i) agree to the terms of this Amendment and the Credit Agreement as
amended by this Amendment (the “Amended Credit Agreement”) and (ii) agree to continue all of its Existing Term Loans outstanding on the Effective Date as New Term Loans in a principal amount equal to the aggregate principal
amount of such Existing Term Loans so continued (or such lesser amount as notified to such Lender by Barclays prior to the Effective Date). 

  
 1 

 WHEREAS, subject to the preceding recitals, each Person (other than a Continuing Term
Lender in its capacity as such) that executes and delivers a signature page to this Amendment in the form of Exhibit A-2 hereto (each, an “Additional Term Lender Addendum”, and collectively
with each Continuing Term Lender Addendum (Cashless Roll), the “Lender Addenda”) and agrees in connection therewith to fund its New Term Loans (such New Term Loans, the “Additional Term Loans”, and the Lenders of
such Additional Term Loans, collectively, the “Additional Term Lenders”) will thereby (i) agree to the terms of this Amendment and the Amended Credit Agreement and (ii) commit to make Additional Term Loans to the Borrower
on the Effective Date as New Term Loans in a principal amount (not in excess of the maximum commitment offered by such Additional Term Lender) as is determined by Barclays and notified to such Additional Term Lender prior to the Effective Date. 

WHEREAS, upon the occurrence of the Effective Date, the proceeds of the Additional Term Loans will be used by the Borrower to repay in
full the outstanding principal amount of the Existing Term Loans that are not Continued Term Loans. 
 WHEREAS, the Continuing Term
Lenders and the Additional Term Lenders (collectively, the “New Term Lenders”) (i) are severally willing to continue their Existing Term Loans as New Term Loans and/or to make New Term Loans, as the case may be, and (ii) agree
to the terms of this Amendment. 
 NOW, THEREFORE, in consideration of the premises and the agreements, provisions and covenants
herein contained, the parties hereto agree as follows: 
 SECTION I.         AMENDMENTS TO CREDIT AGREEMENT

 The Credit Agreement is hereby amended as follows: 

(a)    On and after the Effective Date, all references to (i) “Term Loans” in the Credit
Agreement shall be deemed to be references to the “New Term Loans”, (ii) the “Term Loan Facility” in the Credit Agreement shall be deemed to be references to the “Amended Term Loan Facility” and (iii) the
“Term Loan Lenders” in the Credit Agreement shall be deemed to be references to the “New Term Lenders”, in each case, with such changes as are set forth in this Amendment, except as the context may otherwise require. 

(b)    Section 1.1 of the Credit Agreement is hereby amended as follows: 

(i)    The following definition is hereby added in the appropriate alphabetical order to Section 1.1:

 “Fourth Amendment Effective Date”: December 15, 2016. 

(ii)    The definition of Applicable Margin in the Credit Agreement is hereby amended by replacing the
Applicable Margin with respect to the Term Loan Facility as set forth below: 

  
 2 

									
	 	  	Base Rate Loans	 	 	Eurodollar Loans	 
	 Term Loan Facility
	  	 	1.25	% 	 	 	2.25	% 

 (iii)    The final sentence of the definition of Term Loan Commitment in
the Credit Agreement is hereby deleted and replaced in its entirety with the following sentence: “The aggregate principal amount of the New Term Loan Commitments (as such term is defined in the Fourth Amendment hereto dated as of
December 15, 2016) on the Fourth Amendment Effective Date is $663,799,420.”  

(c)    The references to “Third Amendment Effective Date” in the fifth sentence of Section 2.9(a)
of the Credit Agreement and in the penultimate paragraph of Section 10.1 of the Credit Agreement are hereby deleted and replaced with references to “Fourth Amendment Effective Date.” 

SECTION II.         NEW TERM LOANS 

(a)    Subject to the terms and conditions set forth herein (i) each Continuing Term Lender agrees to
continue all (or such lesser amount as notified to such Lender by Barclays prior to the Effective Date) of its Existing Term Loans as a New Term Loan on the date requested by the Borrower to be the Effective Date in a principal amount equal to such
Continuing Term Lender’s New Term Loan Commitment (as defined below), (ii) each Additional Term Lender agrees to make a New Term Loan on such date to the Borrower in a principal amount equal to such Additional Term Lender’s New Term Loan
Commitment and (iii) each Continuing Term Lender and Additional Term Lender agrees to this Amendment and the terms of the Amended Credit Agreement. 

(b)    For purposes hereof, a Person shall become a party to the Amended Credit Agreement and an Additional
Term Lender as of the Effective Date by executing and delivering to the Administrative Agent, on or prior to the Effective Date, an Additional Term Lender Addendum in its capacity as an Additional Term Lender. The Borrower shall give notice to the
Administrative Agent of the proposed Effective Date not later than one Business Day prior thereto, and the Administrative Agent shall notify each New Term Lender thereof. For the avoidance of doubt, the Existing Term Loans of a Continuing Term
Lender must be continued in whole and may not be continued in part unless approved by Barclays. 

(c)    Each Additional Term Lender will make its New Term Loan on the Effective Date by making available to
the Administrative Agent, in the manner contemplated by Section 2.2 of the Amended Credit Agreement, an amount equal to its New Term Loan Commitment. The “New Term Loan Commitment” of (i) any Continuing Term Lender will be
the amount of its Existing Term Loans as set forth in the Register as of the Effective Date (or such lesser amount as notified to such Lender by Barclays prior to the Effective Date), which shall be continued as an equal principal amount of New Term
Loans, and (ii) any Additional Term Lender will be such amount 

  
 3 

 
(not in excess of the maximum commitment offered by such Additional Term Lender) allocated to it by Barclays and notified to it on or prior to the Effective Date. The commitments of the
Additional Term Lenders and the continuation undertakings of the Continuing Term Lenders are several, and no such Lender will be responsible for any other such Lender’s failure to make or acquire by continuation its New Term Loan. 

(d)    The obligation of each New Term Lender to make, provide or acquire by continuation New Term Loans on
the Effective Date is subject to the satisfaction of the conditions set forth in Section III of this Amendment. 

(e)    The provisions of the Credit Agreement with respect to indemnification, reimbursement of costs and
expenses and increased costs shall continue in full force and effect with respect to, and for the benefit of, each Existing Term Lender in respect of such Lender’s Existing Term Loans. Notwithstanding the foregoing, and notwithstanding Section
2.9(a) of the Credit Agreement, each Continuing Term Lender hereby waives any break funding payments in respect of such Lender’s Existing Term Loans, whether pursuant to Section 2.19 of the Credit Agreement or otherwise. 

(f)    The continuation of Continued Term Loans may be implemented pursuant to other procedures specified
by Barclays, including by repayment of Continued Term Loans of a Continuing Term Lender followed by a subsequent assignment to it of New Term Loans in the same amount. 

(g)    Each Lender with Existing Term Loans that are not continued as Continued Term Loans as contemplated
hereby shall be repaid, at par, on the Effective Date with the proceeds from New Term Loans provided by the Additional Term Lenders. For purposes of the repayment on the Effective Date of any Existing Term Loans that are not continued as Continued
Term Loans, to the extent that Existing Term Lenders constituting Required Lenders consent to this Amendment, the Administrative Agent and the Continuing Term Lenders hereby waive the notice requirements set forth in Section 2.9(a) of the Credit
Agreement of at least three Business Days, in the case of Eurodollar Loans, and at least one Business Day, in the case of Base Rate Loans. 
 SECTION
III.         CONDITIONS PRECEDENT TO EFFECTIVENESS 
 This Amendment shall be effective on and as
of the date hereof (the “Effective Date”, which in any event shall be no earlier than December 14, 2016) upon the satisfaction of the following conditions: 

(a)    Agreements. Each of (i) the Borrower and the Parent shall have delivered executed
counterparts of this Amendment to the Administrative Agent and (ii) the Continuing Term Lenders and the Additional Term Lenders shall have delivered the applicable Lender Addendum to the Administrative Agent. 

(b)    Acknowledgment. The Borrower, the Parent and the other Loan Parties have each executed and
delivered an acknowledgment in the form of Exhibit B hereto (the “Acknowledgment”). 

  
 4 

 (c)    Fees, Expenses and Costs. The Administrative
Agent shall have received all fees required to be paid, and reimbursement of all expenses for which invoices have been presented and which were supported by customary documentation (including reasonable fees, disbursements and other charges of
counsel to the Agents), on or before the Effective Date. 
 (d)    Resolutions. The Administrative
Agent shall have received certified resolutions from the board of directors, members or other similar body of each Loan Party authorizing the execution, delivery and performance of this Amendment. 

(e)    Closing Certificate; Certified Certificate of Incorporation; Good Standing. The
Administrative Agent shall have received (i) a certificate of each Loan Party, dated the Effective Date, substantially in the form of Exhibit C to the Credit Agreement (including such modifications as are necessary to reflect the requirements
of this Section III), with appropriate insertions and attachments including the certificate of incorporation or formation of each Loan Party certified by the relevant authority of the jurisdiction of organization of such Loan Party, and (ii) a
long form good standing certificate and bringdown good standings for each Loan Party from its jurisdiction of organization. 

(f)    Legal Opinions. The Administrative Agent shall have received the legal opinion of Akin Gump
Strauss Hauer & Feld LLP, counsel to the Loan Parties. Such legal opinion shall cover such customary matters relating to the Loan Parties, this Amendment and other matters incidental to this Amendment as the Administrative Agent may
reasonably request and shall be addressed to the Administrative Agent and the Lenders. 

(g)    PATRIOT Act. The Lenders shall have received, sufficiently in advance of closing, all
documentation and other information required by bank regulatory authorities under applicable “know your customer” and anti-money laundering rules and regulations, including without limitation the United States PATRIOT Act. 

(h)    Representations and Warranties. The representations and warranties contained in the Loan
Documents, as modified by this Amendment, are and will be true and correct in all material respects on and as of the Effective Date to the same extent as though made on and as of that date, except to the extent such representations and warranties
specifically relate to an earlier date, in which case they were true and correct in all material respects on and as of such earlier date. 

(i)    No Default. No Default or Event of Default has occurred and is continuing on the Effective
Date or will result from the consummation of the transactions contemplated by this Amendment. 

(j)    Officer’s Certificate. The Administrative Agent shall have received a certificate signed
by a Responsible Officer of the Borrower certifying that the conditions specified in clauses (h) and (i) of this Section III have been satisfied as of the Effective Date. 

  
 5 

 SECTION IV.         FEES 

The Borrower agrees to pay to the Administrative Agent for the account of each New Term Lender an upfront fee in an amount equal to 0.25% of
such New Term Lender’s New Term Loans, which fee shall be due and payable on the Effective Date. 
 SECTION V.
        REPRESENTATIONS AND WARRANTIES 
 The Parent and the Borrower hereby jointly and
severally represent and warrant that: 
 (a)    Binding Obligation. Each of this Amendment and the
Acknowledgment has been duly executed and delivered by each Loan Party party thereto and constitutes a legal, valid and binding obligation of each such Loan Party enforceable against each such Loan Party in accordance with its terms, except as
enforceability may be limited by bankruptcy, insolvency, moratorium, reorganization or other similar laws affecting creditors’ rights generally and except as enforceability may be limited by general principles of equity (regardless of whether
such enforceability is considered in a proceeding in equity or at law). 
 (b)    Incorporation of
Representations and Warranties. The representations and warranties contained in the Loan Documents, as modified by this Amendment, are and will be true and correct in all material respects on and as of the Effective Date to the same extent as
though made on and as of that date, except to the extent such representations and warranties specifically relate to an earlier date, in which case they were true and correct in all material respects on and as of such earlier date. 

(c)    No Default. No Default or Event of Default has occurred and is continuing on the Effective
Date or will result from the consummation of the transactions contemplated by this Amendment. 
 SECTION VI.
        MISCELLANEOUS 
 (a)    Binding Effect. This
Amendment shall be binding upon the parties hereto and their respective successors and assigns and shall inure to the benefit of the parties hereto and their successors and assigns. No party’s rights or obligations hereunder or any interest
therein may be assigned or delegated by any party without the prior written consent of all the Lenders. 

(b)    References to Agreements. On and after the Effective Date, each reference in the Credit
Agreement to “this Agreement”, “hereunder”, “hereof”, “herein” or words of like import referring to the Credit Agreement, and each reference in the other Loan Documents to the “Credit Agreement”,
“thereunder”, “thereof” or words of like import referring to the Credit Agreement shall mean and be a reference to the Amended Credit Agreement. 

(c)    Effect on Loan Documents. Except as specifically amended by this Amendment, the Credit
Agreement and the other Loan Documents shall remain in full force and effect and are hereby ratified and confirmed. The parties hereto acknowledge and agree that this Amendment shall constitute a Loan Document. 

  
 6 

 (d)    Limitation of Amendment. The Amendment set
forth above shall be limited precisely as written and relate solely to the modification of the provisions of the Credit Agreement in the manner and to the extent described above, and nothing in this Amendment shall be deemed to (a) constitute a
waiver of compliance by the Borrower with respect to any other term, provision or condition of the Credit Agreement or any other instrument or agreement referred to therein; or (b) prejudice any right or remedy that the Administrative Agent or
any Lender may now have (except to the extent such right or remedy was based upon existing defaults that will not exist after giving effect to this Amendment) or may have in the future under or in connection with the Credit Agreement or any other
instrument or agreement referred to therein. 
 (e)    GOVERNING LAW. THIS AMENDMENT AND THE
RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 

(f)     Counterparts. This Amendment may be executed in any number of counterparts, each of which
when so executed and delivered shall be deemed an original, but all such counterparts together shall constitute but one and the same instrument. 

[Remainder of page intentionally left blank. Signature pages follow.] 

  
 7 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and
delivered by their respective officers thereunto duly authorized as of the date first written above. 
  

					
	CINEMARK HOLDINGS, INC.
		
	By:	 	 /s/ Michael D. Cavalier

		 	Name:	 	Michael D. Cavalier
		 	Title:	 	Executive Vice President-
		 		 	General Counsel and Secretary

  

					
	CINEMARK USA, INC.
		
	By:	 	 /s/ Michael D. Cavalier

		 	Name:	 	Michael D. Cavalier
		 	Title:	 	Executive Vice President-
		 		 	General Counsel and Secretary

 [Signature Page to Fourth Amendment] 

 
			
	 BARCLAYS BANK PLC,

      as Administrative Agent

		
	By:	 	 /s/ Craig Malloy

		 	Name: Craig Malloy
		 	Title:   Director

 [Signature Page to Fourth Amendment] 

 [Lender Addenda on file with the Administrative Agent] 

 EXHIBIT A-1 

CONTINUING TERM 

LENDER ADDENDUM 

(CASHLESS ROLL) 
 This
Lender Addendum (this “Lender Addendum”) is referred to in, and is a signature page to, the Fourth Amendment (the “Amendment”) to that certain Amended and Restated Credit Agreement, dated as of December 18,
2012 (as amended by the First Amendment thereto dated as of December 18, 2012, the Second Amendment thereto dated as of May 8, 2015 and the Third Amendment thereto dated as of June 13, 2016, the “Credit Agreement”)
among CINEMARK HOLDINGS, INC. (the “Parent”), CINEMARK USA, INC. (the “Borrower”), the several banks and other financial institutions party thereto (the “Lenders”), BARCLAYS BANK
PLC, as administrative agent for the Lenders (in such capacity, the “Administrative Agent”), and the other agents party thereto. Capitalized terms used but not defined in this Lender Addendum have the meanings assigned to such
terms in the Amendment or the Credit Agreement, as applicable. 
 By executing this Lender Addendum as a Continuing Term Lender, the
undersigned institution agrees (i) to the terms of the Amendment and the Amended Credit Agreement, (ii) on the terms and subject to the conditions set forth in the Amendment and the Amended Credit Agreement, to continue its Existing Term
Loans as New Term Loans pursuant to a cashless roll on the Effective Date in the amount of its New Term Loan Commitment and (iii) that on the Effective Date, it is subject to, and bound by, the terms and conditions of the Amended Credit
Agreement and the other Loan Documents as a Lender thereunder and its New Term Loans will be “Term Loans” under the Amended Credit Agreement. 
  

			
	 Name of Institution:
	 	  

  

			
	Executing as a Continuing Term Lender:
		
	    By:	 	  

		 	Name:
		 	Title:
	
	For any institution requiring a second signature line:
		
	    By:	 	  

		 	Name:
		 	Title:

 EXHIBIT A-2 

ADDITIONAL TERM 
 LENDER
ADDENDUM 
 This Lender Addendum (this “Lender Addendum”) is referred to in, and is a signature page to, the Fourth
Amendment (the “Amendment”) to that certain Amended and Restated Credit Agreement, dated as of December 18, 2012 (as amended by the First Amendment thereto dated as of December 18, 2012, the Second Amendment thereto dated
as of May 8, 2015 and the Third Amendment thereto dated as of June 13, 2016, the “Credit Agreement”) among CINEMARK HOLDINGS, INC. (the “Parent”), CINEMARK USA, INC. (the
“Borrower”), the several banks and other financial institutions party thereto (the “Lenders”), BARCLAYS BANK PLC, as administrative agent for the Lenders (in such capacity, the “Administrative
Agent”), and the other agents party thereto. Capitalized terms used but not defined in this Lender Addendum have the meanings assigned to such terms in the Amendment or the Credit Agreement, as applicable. 

By executing this Lender Addendum as an Additional Term Lender, the undersigned institution agrees (i) to the terms of the Amendment and
the Amended Credit Agreement, (ii) on the terms and subject to the conditions set forth in the Amendment and the Amended Credit Agreement, to make and fund New Term Loans on the Effective Date in the amount of such Additional Term Lender’s
New Term Loan Commitment and (iii) that on the Effective Date, it is subject to, and bound by, the terms and conditions of the Amended Credit Agreement and the other Loan Documents as a Lender thereunder and its New Term Loans will be
“Term Loans” under the Amended Credit Agreement. 
  

			
	 Name of Institution:
	 	  

		
	Maximum offered commitment in respect of Additional Term Loans:	 	  

  

			
	Executing as an Additional Term Lender:
		
	    By:	 	  

		 	Name:
		 	Title:
	
	For any institution requiring a second signature line:
		
	    By:	 	  

		 	Name:
		 	Title:

 EXHIBIT B 

FORM OF ACKNOWLEDGEMENT 

ACKNOWLEDGMENT 

December 15, 2016 

Reference is made to (i) that certain Amended and Restated Credit Agreement, dated as of December 18, 2012 (as amended by the First
Amendment thereto dated as of December 18, 2012, the Second Amendment thereto dated as of May 8, 2015 and the Third Amendment thereto dated as of June 13, 2016, the “Credit Agreement”), among CINEMARK HOLDINGS,
INC. (the “Parent”), CINEMARK USA, INC. (the “Borrower”), the several banks and other financial institutions party thereto (the “Lenders”), BARCLAYS BANK PLC, as administrative
agent for the Lenders (the “Administrative Agent”), and the other agents party thereto and (ii) the Fourth Amendment to the Credit Agreement, dated as of December 15, 2016 (the “Amendment”), among the
Parent, the Borrower, the Administrative Agent and the Lenders party thereto. Unless otherwise specifically defined herein, each term used herein which is defined in the Credit Agreement has the meaning assigned to such term in the Credit Agreement.

 Each Loan Party executing this Acknowledgment hereby (i) consents to the Amendment and the transactions contemplated thereby,
(ii) confirms its respective guarantees, pledges, grants of security interests and liens, acknowledgments, obligations and consents under the Guarantee and Collateral Agreement and the other Loan Documents to which it is a party and agrees that
notwithstanding the effectiveness of the Amendment and the consummation of the transactions contemplated thereby, such guarantees, pledges, grants of security interests and liens, acknowledgments, obligations and consents shall continue to be in
full force and effect, in each case as modified by the Amendment, and (iii) ratifies the Guarantee and Collateral Agreement and the other Loan Documents to which it is a party, in each case as modified by the Amendment. 

 

			
	[                    ]
		
	By:	 	  

		 	Name:
		 	Title:EX-10.1

 Exhibit 10.1 

Execution Copy 
  

 
  

GOVERNANCE AGREEMENT 
 By and
Among 
 ORCHESTRA-PRÉMAMAN S.A., 

YELED INVEST S.à r.l, 
 AND

 DESTINATION MATERNITY CORPORATION 

Dated as of December 19, 2016 
  

 
  

 Table of Contents 

 

							
	 	 	 	  	Page	 
	1.	 	 Certain Defined Terms
	  	 	1	  
			
	2.	 	 Restricted Transfers
	  	 	5	  
			
	3.	 	 Restricted Transactions
	  	 	5	  
			
	4.	 	 Stock Splits, Etc
	  	 	6	  
			
	5.	 	 Board of Directors and Certain Governance Matters
	  	 	7	  
			
	6.	 	 Disclosure and Trading
	  	 	8	  
			
	7.	 	 United States Business Headquarters
	  	 	9	  
			
	8.	 	 Merger Agreement Support Arrangements
	  	 	9	  
			
	9.	 	 Representations and Warranties
	  	 	10	  
			
	10.	 	 Termination
	  	 	12	  
			
	11.	 	 Specific Performance
	  	 	12	  
			
	12.	 	 Notices
	  	 	12	  
			
	13.	 	 Entire Agreement and Amendments
	  	 	12	  
			
	14.	 	 Governing Law
	  	 	13	  
			
	15.	 	 Consent to Jurisdiction; WAIVER OF JURY TRIAL
	  	 	13	  
			
	16.	 	 Waivers
	  	 	14	  
			
	17.	 	 Severability
	  	 	14	  
			
	18.	 	 Interpretation
	  	 	14	  
			
	19.	 	 Counterparts and Electronic Signatures
	  	 	14	  
			
	20.	 	 Parties Benefited
	  	 	14	  
			
	21.	 	 Successors and Assigns
	  	 	14	  
			
	22.	 	 Expenses
	  	 	14	  

  

  
 -i- 

 GOVERNANCE AGREEMENT 

THIS GOVERNANCE AGREEMENT is made as of the 19th day of December, 2016, by and among Orchestra-Prémaman S.A., a
société anonyme organized under the laws of France (the “Company”), Yeled Invest S.à r.l., a société à responsabilité limitée organized under the laws of
Luxembourg ( “Yeled”), and Destination Maternity Corporation, a Delaware corporation (“DM”). 
 W I T N
E S S E T H: 
 WHEREAS, the Company, US OP Corporation, a Delaware corporation and a wholly-owned subsidiary of the Company
(“Merger Sub”), and DM have entered into an Agreement and Plan of Merger dated as of today’s date (the “Merger Agreement”) pursuant to which, at the effective time of the merger contemplated thereby (the
“Effective Time”), Merger Sub will merge with and into DM, with DM being the surviving corporation in the merger and becoming a wholly-owned subsidiary of the Company (the “Merger”); and 

WHEREAS, in order to induce DM to enter into and consummate the Merger Agreement, the Company and Yeled desire to provide for, among other
things, certain restrictions with respect to the ownership of the Subject Shares (as defined below), certain governance matters respecting the Company, and certain matters with respect to the trading of the ADSs (as defined below) and disclosure to
be provided to the Company’s shareholders. 
 NOW, THEREFORE, in consideration of the foregoing and of the respective covenants and
undertakings of the parties set forth below, the parties hereto, intending to be legally bound hereby, agree as follows: 
 1. Certain Defined Terms.
Capitalized terms used in this Agreement have the meanings set forth in this Section 1 or are defined in the provisions of this Agreement identified in this Section 1. 

“Acquisition” shall mean any acquisition, directly or through a Subsidiary, of the capital stock or assets (whether by
purchase, merger, consolidation, joint venture formation or other business combination, or otherwise) of another Person. 

“ADSs” shall mean the American Depositary Shares representing the Ordinary Shares. 

“AFEP-MEDEF” shall mean both the Association Française des Entreprises Privées and Mouvement des
Entreprises de France. 
 “Affiliate” of a Person shall mean any other Person which, directly or indirectly, controls, is
controlled by, or is under common control with, such Person. The term “control” (including, with correlative meaning, the terms “controlled by” and “under common control with”), as used with respect to any
Person, shall mean the possession, directly or indirectly, of the power to elect a majority of the board of directors (or other governing body) or to direct or cause the direction of the management and policies of such Person, whether through the
ownership of voting securities, by contract or otherwise. Without limiting the generality of the 

  
 -1- 

 
foregoing, for purposes of such definition, the power to vote equity securities representing more than 50 percent (50%) of the votes to be cast in the election of directors, managers or any
other persons exercising similar authority with respect to a particular Person shall constitute control of such Person or being under common control with such Person. 

“Agreement” shall mean this Governance Agreement, as the same may be amended from time to time in accordance herewith. 

“AMF” shall mean the Autorité des Marchés Financiers, and any successor agency or agencies. 

“Board” shall mean the Board of Directors of the Company. 

“Broker Transaction” shall mean any sale of Ordinary Shares through a broker-dealer properly licensed or registered under the
rules and regulations of the Commission or AMF, after which the Subject Shares are tradeable without restriction under applicable Law. 

“By-Laws” shall mean the statuts of the Company, as in effect from time to
time. 
 “Commission” shall mean the Securities and Exchange Commission, or any successor thereto. 

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

“Counterpart” shall mean a counterpart to this Agreement in the form of Exhibit A hereto, pursuant to the execution of
which a Person shall become bound by all of the terms and conditions to this Agreement. 
 “DM” shall have the meaning set
forth in the preamble. 
 “DM Directors” shall have the meaning set forth in Section 5(b). 

“Effective Time” shall have the meaning set forth in the recitals. 

“Encumbrance” shall mean any lien, pledge, option, charge, easement, security interest, deed of trust, mortgage, conditional
sales agreement or similar encumbrance. 
 “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended. 

“IFRS” shall mean the international financial reporting standards for financial statements as promulgated by the
International Accounting Standards Board. 
 “Indemnification Agreements” shall have the meaning set forth in Section
5(f). 
 “Independent Directors” shall have the meaning set forth in Section 5(c). 

“Knowledge of Yeled” shall mean the actual knowledge of (i) the directors of Yeled and (ii) Pierre Mestre. 

  
 -2- 

 “Law” shall mean any law, statute, ordinance, common law, rule, regulation,
standard, judgment, determination, order, writ, injunction, decree, arbitration award, treaty, agency requirement, authorization, directive, license or permit enacted, issued, promulgated, enforced or entered by any governmental entity (including
self-regulatory organizations). 
 “Merger Consideration” shall have the meaning set forth in the Merger Agreement. 

“NASDAQ” shall mean NASDAQ Stock Market LLC. 

“Ordinary Shares” shall mean the Company’s ordinary shares, with a nominal value of €1.20 per ordinary share,
including Ordinary Shares represented by ADSs. 
 “Outstanding Ordinary Shares” shall mean all Ordinary Shares then issued
and outstanding excluding, for the avoidance of doubt, all Ordinary Shares issuable upon exercise, conversion or exchange of all of the then outstanding options, warrants or convertible or exchangeable securities. 

“Person” shall mean an individual, a sole proprietorship, a corporation, a partnership, limited liability company, a limited
partnership, a joint venture, an association, a trust, or any other entity or organization, including a government or a political subdivision, agency or instrumentality thereof. 

“Rebsamen Law” shall mean French law No. 2013-504 on security of employment
dated June 14, 2013, as amended by law No. 2015-994 relating to social dialogue and employment dated August 17, 2015. 

“Representatives” shall mean, as to any Shareholder, such Shareholder’s directors, officers, members, partners,
employees, Affiliates, legal counsel and other advisors. 
 “Sale of the Company” shall mean any transaction or series of
related transactions pursuant to which any Person together with its Affiliates, acquire(s) (whether by merger, consolidation, reorganization, combination, purchase or other transfer) in the aggregate (i) equity securities of the Company
representing more than fifty percent (50%) of the then outstanding voting power of the Company or (ii) all or substantially all of the Company’s assets determined on a consolidated basis. For the avoidance of doubt, in no event shall any
transaction effected for the principal purpose of changing, directly or indirectly, the internal organization or structure of the Company or any of its Subsidiaries or their jurisdiction of formation (including the establishment of newly formed
Subsidiaries, the dissolution of any Subsidiaries, or any transfer, contribution, exchange or other transactions between the Company and its Subsidiaries or among the Company’s Subsidiaries) constitute or be deemed to constitute a Sale of the
Company. 
 “Sale of the United States Business” shall mean any transaction or series of related transactions pursuant to
which any Person together with its Affiliates, acquire(s) (whether by merger, consolidation, reorganization, combination, purchase or other transfer), in the aggregate, assets (including equity securities of the Company’s Subsidiaries)
contributing to more than twenty percent (20%) of the Company’s revenue or operating income attributable to its business operated in the United States determined in accordance with IFRS. 

  
 -3- 

 “Securities Act” shall mean the Securities Act of 1933, as amended. 

“Shareholder” shall mean Yeled and each other Person who owns, from time to time, any Ordinary Shares and becomes a party to
this Agreement by executing a Counterpart. 
 “Special Approval Process” shall mean the affirmative vote of a majority of
the members of the Board approving a Specified Matter in good faith and determining it to be in the best interests of the shareholders of the Company and otherwise in the corporate interest
(l’intérêt social), if such vote is obtained at a meeting duly called in accordance with the By-Laws and at which a quorum was present
and acting throughout, but only following the failure to obtain the required Supermajority Vote on such Specified Matter at two (2) previous meetings of the Board called for the purpose of considering and voting upon such Specified Matter and
at which a quorum was present and acting throughout. 
 “Specified Matter” shall mean each of the following matters:
(a) the limitations on a Sale of the Company as set forth in Section 2(d) and Section 3(a) of this Agreement; (b) the limitations on the Sale of the United States Business as set forth in Section 3(b) of this
Agreement; (c) the limitations on any Acquisition as set forth in Section 3(d) of this Agreement; and (d) the requirement to maintain the Company’s principal executive office in the United States as set forth in
Section 7 of this Agreement. 
 “Stock” shall mean (a) all shares of capital stock
(including Ordinary Shares and ADSs) of the Company (whether now or hereafter authorized) and (b) all options, warrants, and rights to purchase capital stock (including Ordinary Shares) of the Company, or any other securities (including debt,
notes or bonds) which are exercisable, convertible or exchangeable for capital stock of the Company (collectively, “Derivative Securities”). 

“Subject Shares” shall mean as to any Shareholder, the Stock beneficially owned by such Shareholder on the date of this
Agreement or thereafter acquired. 
 “Subsidiary” shall mean a corporation or other entity of which fifty percent (50%) or
more of the voting power or value of the equity securities of such entity is owned, directly or indirectly, by the Company. 

“Supermajority Vote” shall mean the affirmative vote of at least seven (7) of the eleven (11) directors then in
office, including at least one (1) of the DM Directors. 
 “Trading Day” shall mean any day on which the ADSs are
traded on NASDAQ. 
 “Transfer” shall mean any transfer of Stock, whether directly or indirectly, by sale, assignment,
gift, will, devise, bequest, operation of the laws of descent and distribution, or in trust, or other disposition, including any involuntary transfer of title or ownership upon any default or foreclosure. The verb to “Transfer”
shall mean to sell, assign, give, transfer (including by gift, will, devise, bequest, or operation of laws of descent and distribution, or in trust) or dispose of. 

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

  
 -4- 

 2. Restricted Transfers. Effective as of the Effective Time: 

(a) No Shareholder shall Transfer any of its Subject Shares to any Person if such Transfer is prohibited by, or is otherwise in contravention
of, the terms of this Agreement. No Transfer prohibited by this Agreement or otherwise made in contravention of this Agreement shall be effective and the Company shall not, and shall not be compelled to, recognize any such Transfer or record any
Transfer on its books, or issue any certificate representing any Stock to any Person who has received such Stock in a Transfer prohibited by this Agreement or otherwise made in contravention of this Agreement. 

(b) Notwithstanding anything to the contrary in this Agreement, (i) nothing in this Agreement shall impose any restriction on any Transfer
of the Subject Shares by Yeled or any other Shareholder to one or more of its Affiliates, provided that such transferee executes and delivers to the Company an executed Counterpart if such transferee is not then a party to this Agreement, and
(ii) nothing in this Agreement shall prohibit or otherwise limit Yeled or any other Person from complying with any AMF regulatory requirements that may apply from time to time. 

(c) No Shareholder shall Transfer, in any individual transaction or in a series of related transactions (excluding any Broker Transaction or
other Transfers in the open market), any of its Subject Shares to any Person or to such Person’s Affiliates if, to the Knowledge of Yeled, immediately after giving effect to and as a result of any such Transfer or series of related Transfers,
(i) the transferee(s), together with its Affiliates, shall beneficially own more than thirty percent (30%) of the Outstanding Ordinary Shares, or (ii) Yeled no longer beneficially owns a greater number of Ordinary Shares as compared to the
number of Ordinary Shares owned by any other Person (for the avoidance of doubt, excluding any Affiliates of Yeled) and such Person’s Affiliates. The provisions of this subsection (c) shall terminate on the second (2nd) anniversary of the Effective Time. 
 (d) No Shareholder shall effect a Transfer, in any
individual transaction or in a series of related transactions, any of its Subject Shares to any Person if such Transfer(s) constitutes a Sale of the Company unless (i) the Transfer(s) and the Sale of the Company is approved by a Supermajority
Vote of the Board or in compliance with the Special Approval Process and (ii) all of the shareholders of the Company are offered (whether contractually or pursuant to applicable AMF regulations) the right to participate in such transaction at
the same (or better) price and on the same (or better) terms as the Shareholder seeking to effect a Transfer that constitutes a Sale of the Company. The provisions of this subsection (d) shall terminate on the second (2nd) anniversary of the Effective Time. 
 3. Restricted Transactions. During the period commencing at
the Effective Time and terminating on the second (2nd) anniversary of the Effective Time: 

(a) The Company (except to the extent expressly required by French law) shall not enter into or authorize any agreement or transaction, or
series of related agreements or transactions, that constitutes a Sale of the Company unless (i) such Sale of the Company is approved by a Supermajority Vote of the Board or in compliance with the Special Approval Process and (ii) all of
the shareholders of the Company are offered (whether contractually or pursuant to applicable AMF regulations) the right to participate in such transaction that constitutes a Sale of the Company at the same (or better) price and on the same (or
better) terms. 

  
 -5- 

 (b) The Company shall not enter into or permit any agreement or transaction, or series of related
agreements or transactions, that constitutes a Sale of the United States Business unless such Sale of the United States Business is approved by a Supermajority Vote of the Board or in compliance with the Special Approval Process. 

(c) Neither the Company nor any of its Subsidiaries will enter into or consummate any agreement or transaction with an Affiliate of the Company
(other than agreements or transactions solely involving the Company and its wholly-owned direct or indirect subsidiaries) unless such transaction or agreement is approved by, a Supermajority Vote. 

(d) Neither the Company nor any of its Subsidiaries will enter into or consummate any Acquisition (whether in one transaction or a series of
related transactions) where the consideration to be paid by the Company or one or more of its Subsidiaries, in the aggregate, is greater than € 100,000,000 unless such Acquisition is approved by a Supermajority Vote or in compliance with
the Special Approval Process. For purposes of the foregoing, (i) any consideration to be paid by the Company in the form of its Ordinary Shares or ADSs shall be valued using the weighted average trading price of the Ordinary Shares on
Euronext-Paris or the weighted average trading price of the ADSs on NASDAQ, respectively, for the ten (10) day period ending on the third (3rd) Trading Day prior to the date when the meeting
of the Board is held to consider and vote upon the proposed Acquisition; and (ii) the value of any consideration to be paid by the Company in a form other than cash or Ordinary Shares shall be determined by the Board. 

(e) None of the Company, any of its Subsidiaries, Yeled nor any of its Affiliates shall make any purchases of Ordinary Shares if, as a result
of such purchases, the number of Ordinary Shares beneficially owned by persons who are not Affiliates of any of the Company, Yeled or Pierre Mestre would fall below twenty-five percent (25%) of the Outstanding Ordinary Shares. 

(f) Neither the Company, Yeled nor any of their respective Affiliates (except to the extent expressly required by French law) shall enter into
or authorize any agreement or transaction, or series of related agreements or transactions, pursuant to which it, or any of its Affiliates or Subsidiaries, as applicable, offers to acquire Ordinary Shares by tender offer if, as a result of such
transaction or transactions, the number of Ordinary Shares beneficially owned by persons who are not Affiliates of any of the Company, Yeled or Pierre Mestre would fall below twenty-five percent (25%) of the Outstanding Ordinary Shares. 

4. Stock Splits, Etc. If there shall be any change in the outstanding Stock as a result of any merger, consolidation, reorganization, recapitalization,
stock dividend, split-up, combination or exchange of outstanding Stock, or otherwise, the provisions of this Agreement shall apply with equal force to additional and/or substitute securities, if any, received
by each Shareholder in exchange for or by virtue of its ownership of Subject Shares. 

  
 -6- 

 5. Board of Directors and Certain Governance Matters. Except as expressly provided otherwise in this
Agreement from the Effective Time until the third (3rd) anniversary of the Effective Time: 

(a) The Board shall consist of eleven (11) members. 

(b) From the Effective Time until the second (2nd) anniversary of the Effective Time:
(i) three (3) of the members of the Board shall be individuals designated by the board of directors of DM (the “DM Directors”) prior to the Effective Time; and (ii) upon the occurrence of any vacancy in the DM Directors,
whether resulting from resignation, removal, death, disability or otherwise, the then remaining DM Directors shall designate an individual to serve on the Board in such capacity for the remainder of the then current term of any such vacant director
position. At the Effective Time, the DM Directors shall consist of such individual(s) designated by the DM board of directors prior to the Effective Time. Each DM Director to be nominated and elected pursuant to this subsection (b) shall
be an Independent Director (as such term is defined in subsection (c) below). 
 (c) One member of the Board shall satisfy the
requirements of the Rebsamen Law and five (5) members of the Board, including those serving as DM Directors shall be individuals who satisfy the “independence” requirements of NASDAQ and AFEP-MEDEF (the “Independent
Directors”). The individuals elected to serve as the Independent Directors at the Effective Time shall be the DM Directors, together with such other individuals designated by the Board prior to the Effective Time. Following the Effective
Time, subject to subsection (b) and the Rebsamen Law, the individuals to be nominated to serve as directors of the Company (other than DM Directors), including as a result of any vacancy (whether by resignation, removal, death,
disability or otherwise) shall be nominated by a majority of the members of the Board who are not DM Directors. 
 (d) (i) The members
of the Board shall each be elected annually by the shareholders of the Company by a majority of the votes cast at a meeting at which a quorum was present and acting; (ii) each Shareholder agrees to vote its shares in favor of those individuals
nominated in accordance with this Agreement; and (iii) no Shareholder shall grant a proxy or similar instrument with respect to the Subject Shares, or enter into any voting agreement, trust or other arrangement relating to the voting of the
Subject Shares, unless the Person entitled to vote its Subject Shares thereunder agrees to vote such Subject Shares as provided for in this subsection (c), and any Shareholder so granting a proxy or similar interest, or entering into any such
voting agreement, trust or other arrangement hereby unconditionally guarantees the full performance of the Person entitled to vote the Subject Shares thereunder with the terms of this subsection (c). 

(e) The Company shall establish and maintain (i) an audit committee (the “Audit Committee”), (ii) a corporate governance
and nominating committee and (iii) a compensation committee, each of which shall be comprised of three (3) members of the Board; provided, however, until the first (1st)
anniversary of the Effective Time, the Audit Committee shall consist of four (4) members of the Board. All of the members of each such committee shall meet the “independence” requirements for its members as prescribed by the
Commission, NASDAQ and AFEP-MEDEF, except that Pierre Mestre may serve on the Audit Committee until the first (1st) anniversary of the Effective Time. From the Effective Time until the second (2nd) anniversary of 

  
 -7- 

 
the Effective Time, one of the DM Directors shall serve as a member of each such committee. Immediately following the Effective Time, each such committee shall adopt a charter that satisfies the
requirements prescribed by the Commission, NASDAQ and AFEP-MEDEF, as well as the provisions of this Agreement. To the fullest extent permitted under applicable Law, each member of the Board will have the right to attend any meeting or session of any
board committee. 
 (f) Effective as of the Effective Time, to the fullest extent permitted under applicable Law, the Company shall cause
each of its Subsidiaries to adopt and maintain in full force and effect, in each case for the benefit of the DM Directors and the officers of DM and its Subsidiaries, indemnification and exculpation provisions in its governing documents, including
with respect to the payment and advancement of monies to pay expenses, which are the same, in all material respects, as those maintained by DM on the date hereof. Effective as of the Effective Time, to the fullest extent permitted under applicable
Law, the Company shall procure, pay for and maintain in full force and effect policies with respect to directors’ and officers’ liability insurance covering those Persons who are serving as directors and officers of the Company or any of
its Subsidiaries during the three (3) year period following the Effective Time with coverage at least to the same extent as DM’s directors and officers are currently covered and with carriers having claims paying ratings no lower than
DM’s current insurers. Effective as of the Effective Time, to the fullest extent permitted under applicable Law, the Company shall enter into indemnification arrangements in substantially the form attached hereto as Exhibit B with those
individuals (i) who are directors of DM on the date hereof and who become directors of the Company following the Effective Time, or (ii) who are officers of DM on the date hereof and who become officers of the Company following the
Effective Time (the “Indemnification Agreements”). To the extent permitted under applicable Law, the Company shall also enter into such indemnification agreements with any person serving as a substitute or additional DM Director or
as a substitute or additional officer of DM. The Company shall present the Indemnification Agreements to its shareholders for ratification and approval no later than the first annual meeting of the Company’s shareholders held after the
Effective Time. 
 (g) Each DM Director shall be afforded the same compensation as the other Independent Directors as remuneration for his
service as a director of the Company. The Company shall also reimburse each DM Director for all reasonable, documented, out-of-pocket travel expenses incurred in
connection with attendance at Board meetings or at meetings of any of its committees, and all other reasonable, documented, out-of-pocket expenses incurred by such Board
member in carrying out such Board member’s responsibilities as a Board member, in each case in accordance with the Company’s expense reimbursement policies. 

(h) Each of the directors and officers of DM, and his or her heirs and legal representatives, is an intended third party beneficiary of this
Section 5 and may specifically enforce its terms. 
 6. Disclosure and Trading. 

(a) No later than the Effective Time, the Company shall cause the ADSs to be registered with the Commission under Section 13 of the
Exchange Act. During the period from the Effective Time until the third (3rd) anniversary of the Effective Time, except in the event of a 

  
 -8- 

 
deregistration as a result of any Sale of Company permitted under Section 3(a), the Company shall maintain the registration of, ADSs with the Commission under Section 13 of the
Exchange Act and shall timely file all reports, statements or other forms, and cause its directors and executive officers to timely file all reports, statements or other forms, required to be filed by it or them as a result of the ADSs being
registered with the Commission under Section 13 of the Exchange Act. 
 (b) No later than the Effective Time, the Company shall cause
its ADSs to be listed for trading on NASDAQ. During the period from the Effective Time until the third (3rd) anniversary of the Effective Time, except in the event of a deregistration as a result
of any Sale of Company permitted under Section 3(a), the Company shall (i) maintain such listing in accordance with the requirements of NASDAQ and (ii) without limiting the generality of the foregoing, make all filings required to
be made by it and otherwise comply with all of its obligations as a company whose securities are listed for trading on such exchange. 
 (c)
Commencing with the Effective Time, the Company shall: (i) disseminate, in a manner that is compliant with Regulation FD promulgated under the Securities Act, no later than the date of filing of its Annual Report on Form 20-F, an earnings release relating to the Parent’s financial performance and results of operations for the most recently completed fiscal year; and (ii) in connection with the release described in clause
(i), convene a conference call for purposes of discussing the contents of the earnings release with investors. As soon as practicable after the Effective Time, but in no event later than with respect to the third fiscal quarter that begins after the
Effective Time, disseminate in a manner that is compliant with Regulation FD promulgated under the Securities Act, no later than 45 days after the end of each fiscal quarter, an earnings release containing, for the applicable periods, (1) the
financial statements required to be disclosed by the Company on its Form 20-F promulgated by the Commission and (2) the narrative information described in Item 5 of such Form 20-F (with the level of detail required by such form). 
 7. United States Business Headquarters. Unless otherwise
approved by a Supermajority Vote of the Board or in compliance with the Special Approval Process, following the Effective Time, the Company shall maintain DM’s principal executive office and its Florence, New Jersey distribution facility at
their respective locations on the date of this Agreement. 
 8. Merger Agreement Support Arrangements. 

(a) Until this Agreement terminates, each Shareholder hereby agrees to vote the Subject Shares owned by the Shareholder in favor of
(i) the approval and adoption of the Merger Agreement and the transactions contemplated thereby, including the By-Law Amendment (as defined in the Merger Agreement), (ii) to the extent permitted by
applicable Law, the ratification and approval of the Indemnification Agreements, (iii) all other matters necessary or appropriate to enable or permit the Company to perform its obligations under the Merger Agreement in accordance with its
terms, in each case at any annual, special or other meeting of the holders of shares of Ordinary Shares and at any adjournment or postponement thereof or pursuant to any written consent in lieu of a meeting, to the fullest extent that the Subject
Shares are entitled to be voted; and (iv) against any action which could reasonably be expected to materially impede or materially delay the consummation of the transactions contemplated by the Merger Agreement,

  
 -9- 

 
including any Acquisition Proposal (as defined in the Merger Agreement). Each Shareholder hereby represents that he has not heretofore granted, and covenants and agrees that such Shareholder
shall not grant any irrevocable proxy, or otherwise entered into, or hereafter enter into, any voting agreement, voting trust or other similar arrangement, in each case with respect to the Subject Shares, will not revoke the agreements set forth in
this subsection (a), and hereby revokes, to the fullest extent permitted by law, any and all proxies, agreements, trusts or similar arrangements which may heretofore have been granted with respect to the Subject Shares. 

(b) Until this Agreement terminates, each Shareholder hereby agrees to vote the shares of voting capital stock of DM now owned or hereafter
acquired by the Shareholder (the “DM Voting Stock”) in favor of the approval and adoption of the Merger Agreement and the transactions contemplated thereby, at any annual, special or other meeting of the holders of shares of voting
capital stock of DM and at any adjournment or postponement thereof or pursuant to any written consent in lieu of a meeting, to the fullest extent that the shares of voting capital stock of DM are entitled to be voted. Each Shareholder hereby
represents that such Shareholder has not heretofore granted, and covenants and agrees that such Shareholder shall not grant, any irrevocable proxy, or otherwise entered into, or hereafter enter into, any voting agreement, voting trust or other
similar arrangement, in each case with respect to the DM Voting Stock, will not revoke the agreements set forth in this subsection (b), and hereby revokes, to the fullest extent permitted by law, any and all proxies, agreements, trusts or
similar arrangements which may heretofore have been granted with respect to the DM Voting Stock. 
 (c) Each Shareholder understands and
acknowledges that DM is entering into the Merger Agreement in reliance upon the Shareholder’s agreements to the provisions of this Section 8. Each Shareholder hereby affirms that the agreements set forth in this
Section 8 are given in connection with and as an inducement for the execution by the Company of the Merger Agreement. 

(d) Until the earlier to occur of the termination of the Merger Agreement in accordance with its terms and the Effective
Time, Yeled shall not, and Yeled shall not permit any of its Affiliates to, Transfer, in any transaction or transactions, any of its Subject Shares to any Person if Yeled no longer
beneficially owns and has the unrestricted right to vote (other than restrictions imposed by this Agreement) a number of Ordinary Shares having such number of votes equal to or greater than the number of votes necessary to
obtain the Requisite Parent Vote (as such term is defined in the Merger Agreement). 
 (e) Until the earlier to occur of the
termination of the Merger Agreement in accordance with its terms and the Effective Time, Yeled shall provide the Company with written notice promptly (and in any event within five (5) Business Days) after any
foreclosure or similar action taken by a secured party with respect to the Subject Shares or shares of DM Voting Stock. 
 9. Representations and
Warranties. 
 (a) Each party, severally as to itself and not jointly, hereby represents and warrants to the other parties that: 

  
 -10- 

 (i) if such party is not an individual, such party is duly organized and validly existing in good
standing (where such concept is applicable) under the laws of the jurisdiction in which it is incorporated or constituted and such party has full power and authority to execute, deliver and perform this Agreement, or if such party is an individual,
such party has full legal capacity, right and authority to execute and deliver this Agreement and to perform his obligations hereunder and to consummate the transactions contemplated hereby; 

(ii) this Agreement has been duly and validly executed and delivered by such party and, assuming the due and valid authorization, execution and
delivery of this Agreement by the other parties hereto, constitutes a valid and binding obligation of such party enforceable against such party in accordance with its terms, subject to bankruptcy, insolvency, moratorium, and other similar laws
affecting creditors’ rights generally and by general principles of equity, whether considered in a proceeding at law or in equity; and 

(iii) neither the execution and delivery of this Agreement by such party, the consummation of the transactions contemplated hereby by such
party, nor compliance with any provisions herein by such party will (A) if such party is not an individual, violate, contravene or conflict with or result in any breach of any provision of the certificate of incorporation or bylaws (or other
similar governing documents) of such party, (B) require any consent, approval, authorization or permit of, or filing with or notification to, any supranational, national, foreign, federal, state or local government or subdivision thereof, or
governmental, judicial, legislative, executive, administrative or regulatory authority on the part of such party, except for compliance with the requirements of applicable United States, foreign, state or local securities laws, and the rules and
regulations promulgated thereunder, (C) violate, conflict with, or result in a breach of any provisions of, or require any consent, waiver or approval or result in a default or loss of a benefit (or give rise to any right of termination,
cancellation, modification or acceleration or any event that, with the giving of notice, the passage of time or otherwise, would constitute a default or give rise to any such right) under any of the terms, conditions or provisions of any note,
license, agreement, contract, indenture or other instrument or obligation to which such party is a party or by which such party or, in the case of any Shareholder, any of its Subject Shares is bound, (D) result (or, with the giving of notice,
the passage of time or otherwise, would result) in the creation or imposition of any mortgage, lien, pledge, charge, security interest or encumbrance of any kind on any asset of such party (other than one created pursuant to this Agreement), or
(E) violate any order, writ, injunction, decree, statute, rule or regulation applicable to such party or, in the case of any Shareholder, by which any of its Subject Shares are bound. 

(b) Each Shareholder, severally as to itself and not jointly, further represents and warrants to the other parties, in each case of the date on
which such Shareholder becomes a party to this Agreement, that: 
 (i) except as set forth on Schedule A, such Shareholder is the
record or beneficial owner of such Shareholder’s Subject Shares and the number of shares of capital stock of DM, and has good and marketable title to the Subject Shares and the shares of capital stock of DM listed on Exhibit C opposite
Shareholder’s name, in each case free and clear of any Encumbrances, except as (A) provided hereunder, and (B) pursuant to any applicable restrictions on transfer under applicable United States, foreign, state or local securities
laws, and the rules and regulations promulgated thereunder; 

  
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 (ii) the Subject Shares and the shares of capital stock of DM listed on Exhibit C opposite
Shareholder’s name constitute all of the Subject Shares and all of the shares of capital stock of DM owned by such Shareholder as of the date hereof; 

(iii) except as set forth on Schedule A, no Person has any contractual or other right or obligation to purchase or otherwise acquire any
of such Shareholder’s Subject Shares or shares of capital stock of DM listed on Exhibit C opposite Shareholder’s name; and 

(iv) the Subject Shares entitle such Shareholder to the number of votes listed opposite such Shareholder’s name on Exhibit C.

 (c) Yeled further represents and warrants to the other parties that, except as set forth on Schedule A, it beneficially owns and
has the unrestricted right to vote (other than restrictions imposed by this Agreement) a number of Subject Shares having such number of votes equal to or greater than the number of votes necessary to obtain the Requisite Parent Vote (as such term is
defined in the Merger Agreement). 
 10. Termination. This Agreement shall remain in effect until its automatic termination which shall occur upon the
earlier of (a) the termination of the Merger Agreement in accordance with its terms and (b) immediately following the third anniversary of the Effective Time (provided that Sections 10 through 23 shall survive any such
termination). 
 11. Further Assurances. The parties agree to execute, deliver and perform such other documents, agreements and instruments, and to
take such further actions, in each case as may be necessary or appropriate to effectuate this Agreement and the intentions expressed herein. 
 12.
Specific Performance. Because of the unique character of the agreements set forth herein, the parties hereto will be irreparably damaged if this Agreement is not specifically enforced. Should any dispute arise concerning any provision of this
Agreement, an injunction may be issued (without the requirement that a bond be posted) restraining action taken in contravention of this Agreement (as the case may be) or requiring the taking of action in accordance with this Agreement, in each case
pending the determination of such controversy. In the event of any controversy concerning this Agreement, such rights or obligations shall be enforceable in a court of equity by a decree of specific performance. Such remedy shall be cumulative and
not exclusive, and shall be in addition to any other remedy which the parties may have. 
 13. Notices. All notices and other communications given in
connection with this Agreement shall be in writing and shall be given by personal delivery, by telecopier or similar facsimile means, by electronic mail, by overnight U.S. mail, return receipt requested and postage prepaid, or by express courier or
recognized overnight delivery service, charges prepaid, to such party’s address or telecopier number set forth on the signature pages hereto. Notice shall be deemed given upon receipt. Notice of any change in any such address or telecopier
number shall also be given in the manner set forth above. Whenever the giving of notice is required, the giving of such notice may be waived by the party entitled to receive such notice. 

  
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 14. Entire Agreement and Amendments. This Agreement constitutes the entire agreement of the parties with
respect to the subject matter hereof. This Agreement may be amended by the Company: 
 (a) as may be required to implement the addition of
any Person as a “Shareholder” in accordance with the terms of this Agreement; 
 (b) to amend Exhibit C attached hereto to
change the number of Subject Shares or shares of capital stock of DM beneficially owned by a Shareholder as a result of a Transfer permitted by this Agreement; and 

(c) to change the name of the Company or any Shareholder. 

Except as set forth above, (i) prior to the Effective Time, the provisions of this Agreement may only be waived, amended, modified or supplemented by a
written instrument signed by the Company, DM and the holders of a majority of the Outstanding Ordinary Shares beneficially owned by all Shareholders, and (ii) following the Effective Time, the provisions of this Agreement may only be waived,
amended, modified or supplemented by a written instrument approved by a Supermajority Vote; provided, however, in each case, any waiver, amendment, modification or supplement that adversely and disproportionately impacts a particular
Shareholder shall also require the written consent of such Shareholder. 
 15. Governing Law. THIS AGREEMENT SHALL BE CONSTRUED AND ENFORCED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE WITHOUT REGARD TO THE APPLICATION OF THE PRINCIPLES OF CONFLICTS OR CHOICE OF LAWS, UNLESS, AND ONLY TO THE EXTENT THAT, IN ORDER TO FULLY ENFORCE THE OBLIGATIONS HEREIN OF THE COMPANY OR ANY
SHAREHOLDER, SUCH PROVISIONS SHOULD BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF FRANCE, IN WHICH EVENT SUCH LAWS SHALL APPLY FOR SUCH PURPOSE. 

16. Consent to Jurisdiction; WAIVER OF JURY TRIAL. Each party hereto irrevocably and unconditionally consents to the jurisdiction of, and agrees,
for the benefit of each party, that any legal action, suit or proceeding against it with respect to its obligations, liabilities or any other matter under or arising out of or in connection with this Agreement and with respect to the enforcement,
modification, vacation or correction of an award rendered in an arbitration proceeding may be brought in, any Delaware State court or federal court of the United States sitting in the State of Delaware in any action or proceeding relating to this
Agreement and consents to service of process in connection therewith by the delivery of notice to such Person’s address at the address for notices to such Person pursuant to this Agreement. TO THE FULLEST EXTENT PERMITTED BY LAW, EACH PARTY
HERETO WAIVES ANY AND ALL RIGHTS THE PARTY MAY HAVE TO A JURY TRIAL WITH RESPECT TO ANY DISPUTE ARISING UNDER THIS AGREEMENT OR IN CONNECTION THEREWITH. Each party hereto waives any objection which it may now or hereafter have to the laying of venue
of any of the aforesaid actions, suits or proceedings brought in any such Delaware court and hereby further waives and agrees not to plead or claim in any such Delaware court that any such action, suit or proceeding brought therein has been brought
in an inconvenient forum. Furthermore, each Shareholder agrees to vote its voting Subject Shares to cause the Company to at any time make the foregoing consents, agreements and waivers in respect of any legal action, suit or proceeding against the
Company by a Shareholder. 

  
 -13- 

 17. Waivers. The failure of any party to insist upon strict performance of any of the terms or conditions
of this Agreement will not constitute a waiver of any of its rights hereunder. 
 18. Severability. Whenever possible, each provision of this
Agreement will 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 invalid, illegal or unenforceable in any respect under any applicable law or rule in any
jurisdiction, such invalidity, illegality or unenforceability will not affect any other provision or the effectiveness or validity of any provision in any other jurisdiction, and this Agreement will be reformed, construed and enforced in such
jurisdiction as if such invalid, illegal or unenforceable provision had never been contained herein. 
 19. Interpretation. Unless the context of this
Agreement otherwise requires: (a) words of any gender include each gender and the neuter; (b) words using the singular or plural number also include the plural or singular number, respectively; (c) the terms “hereof,”
“herein,” “hereby” and derivative or similar words refer to this entire Agreement; (d) the term “Section” refers to the specified Section of this Agreement; and (e) the term “including” or similar
words shall be construed as to refer to such matter without limitation thereof. Whenever this Agreement refers to a number of days, such number shall refer to calendar days unless other days are specified. The headings contained in this Agreement
are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement. Beneficial ownership of Stock shall be determined in accordance with Rule 13d-3 promulgated
under the Exchange Act. 
 20. Counterparts and Electronic Signatures. This Agreement may be executed, including electronically, in one or more
counterparts, each of which when so executed shall be deemed to be an original and all of which together shall constitute one and the same instrument. 
 21.
Parties Benefited. Except as set forth in Section 5(f) above, nothing in this Agreement, express or implied, is intended to confer upon any third party any rights, remedies, obligations or liabilities; provided, however,
each Person who beneficially owns shares of capital stock of DM which are exchanged for Merger Consideration pursuant to the Merger Agreement shall be deemed intended third party beneficiaries of this Agreement and may specifically enforce the
provisions hereof. 
 22. Successors and Assigns. This Agreement shall inure to the benefit of and be binding upon the parties hereto and their
respective heirs, personal representatives, successors and assigns. No party may assign its rights or obligations under the Agreement except in the context of a Transfer that is not prohibited by the terms of this Agreement. 

23. Expenses. All fees and expenses incurred in connection with this Agreement shall be paid by the party incurring such fees and expenses. 

[Signature Pages Follow] 

  
 -14- 

 IN WITNESS WHEREOF, the parties have executed this Governance Agreement as of the date indicated
above. 
  

			
	ORCHESTRA-PRÉMAMAN S.A.
		
	By:	 	/s/ Thomas Hamelle
		 	Name: Thomas Hamelle
		 	Title: Chief Executive Officer

  

			
	 ZAC Saint-Antoine
 200 avenue des
tamaris
 34130 Saint-Aunès
 France

Attention:
 Facsimile:

Email:
  

DESTINATION MATERNITY CORPORATION

		
	By:	 	/s/ Anthony M. Romano
		 	Name: Anthony M. Romano
		 	Title: Chief Executive Officer & President
	
	 232 Strawbridge Drive
 Moorestown,
NJ 08057
 Attention:
 Facsimile:

Email:

	
	[Signature Pages of Shareholders Follow]

 Governance and Transfer Restriction Agreement Signature Page 

 
			
	SHAREHOLDERS:
	
	YELED INVEST S.à.r.l.
		
	By:	 	/s/ Fons Mangen
		 	Name: Fons Mangen
		 	Title: Director
		
	By:	 	/s/ Jean-Hughes Antoine
		 	Name: Jean-Hughes Antoine
		 	Title: Director
	
	 318, rue de Neudorf
 L-2222 Luxembourg
 Attention:

Facsimile:
 Email:

 Governance Agreement Signature Page 

 EXHIBIT A 

COUNTERPART SIGNATURE PAGE 

THIS INSTRUMENT forms part of the Governance Agreement made as of December 19, 2016, as amended from time to time (the
“Agreement”), among the Company, DM and the Shareholders (as each such term is defined in the Agreement), which Agreement permits execution (including electronically) by counterpart. The undersigned hereby acknowledges having
received a copy of the Agreement (which is annexed hereto as Schedule I) and having read the Agreement in its entirety, and for good and valuable consideration, receipt and sufficiency of which is hereby acknowledged, hereby agrees that the
terms and conditions of the Agreement shall be binding upon the undersigned as a “Shareholder,” and such terms and conditions shall inure to the benefit of and be binding upon the undersigned and its successors and permitted assigns. 

IN WITNESS WHEREOF, the undersigned has executed this instrument as of
                                        . 

 

	
	
	   

	(Signature of Shareholder)
	
	   

	(Name in block letters)

  
 A-1 

 EXHIBIT B 

[FORM OF INDEMNIFICATION ARRANGEMENT] 

  
 B-1 

 FORM OF OFFER 

TO DIRECTORS OR SPECIFICALLY OFFICERS 

TO SUBSCRIBE LIABILITY INSURANCE AND PROVIDE INDEMNIFICATION 

WHEREAS 
 The public offering in
the United States by Orchestra-Prémaman S.A. (the “Company”) of shares in the form of American Depositary Shares (“ADSs”), each representing one ordinary share of the Company (the
“Public Offering”), the filing of registration statements and reports with the United States Securities and Exchange Commission (“SEC”) in connection with the Public Offering and the quotation of the ADSs on The NASDAQ Stock
Market LLC (“Market”) expose the directors and the officers of the Company to significant risks with respect to their service to the Company. 

The Company, taking into account the scope of the obligations and possible personal liability of the directors and officers induced by the
U.S. securities laws and the fact that they are significantly more burdensome than under French law, has resolved that its directors and officers should not be exposed to such personal liability. 

In the United States, directors and officers are typically indemnified or insured. As a result, the Company has concluded that (1) in
order to achieve its objectives in the international financial and commercial markets, it needs highly qualified and experienced individuals to serve as directors and officers of the Company, and (2) in the absence of insurance and
indemnification protection, such individuals might not be willing to serve as directors or officers of the Company or might resign from their office. 

It is the Company’s intention to provide its directors and officers with insurance coverage, indemnification against liabilities and
advancement of expenses in connection with any matters that arise out of their service to the Company to the fullest extent permitted by applicable laws and regulations. 

Accordingly, the Company resolved that providing insurance coverage, indemnification and advancement of expenses to said directors and
officers to the fullest extent permitted by applicable laws and regulations is consistent with the Company’s corporate interest. 

[The undersigned may also have certain rights to indemnification and/or insurance provided by a private equity fund, venture capital fund, an
investment company and certain of their affiliates which have invested in the Company (collectively, the “Fund Indemnitors”) which the undersigned and the Fund Indemnitors intend to be secondary to the primary obligation of the Company to
indemnify undersigned as provided herein, with the Company’s acknowledgement and agreement to the foregoing being a material condition to undersigned’s willingness to serve as director of the Company to the extent applicable.]1 
  

	1 	Include if any of the DM Directors is associated with an investment fund or other similar vehicle which provides them with indemnification. 

  
 B-2 

 NOW THEREFORE, THE COMPANY HEREBY IRREVOCABLY UNDERTAKES AS FOLLOWS: 

 

	1.	Beneficiary 

 The persons, whether individuals or corporations, who may benefit
from and accept the offer (the “Offer”) are: 
 (i) any person who is or becomes a director of the Company (a
“Director”) upon the completion of the Public Offering, and 
 (ii) any person who is or becomes an officer of the Company upon
the completion of the Public Offering (an “Officer”). 
 (iii) “Beneficiary,” for the purpose of the Offer, shall be a
Director or an Officer having accepted and signed this Offer. 
  

	2.	Undertaking to Subscribe; Insurance Policy; Indemnification 

 2.1. Upon acceptance
and signature of this Offer by a Beneficiary, the Company shall immediately provide to the Beneficiary the benefit of one or more director and officer (“D&O”) insurance policies (collectively, the “D&O Insurance Policy”)
subscribed with a well-rated insurance company of national or international repute (the “Insurance Company”) providing D&O insurance coverage in line with best practice for companies in the United States with a similar market
capitalization and industry to the Company (“Best Practices”), to the fullest extent permitted by applicable laws and regulations and subject to the limitations and exclusions set forth in Section 3 below. Any losses incurred by the
Beneficiary for any damages, losses, liabilities, judgments, fines, penalties (whether civil, criminal or other) and amounts paid in settlement (provided that such settlement is approved in advance by the Company), including all interest,
assessments and other charges paid or payable in connection with or in respect of any of the foregoing (collectively, the “Losses”) if the Beneficiary is or was or becomes a party to or witness or other participant in, or is threatened to
be made a party to or witness or other participant in, any threatened, pending or completed claim, demand, action, suit, proceeding or alternative dispute resolution mechanism, whether civil, criminal, administrative, investigative or other, whether
formal or informal, or any inquiry or investigation, made, instituted or conducted by any other party, including any foreign, federal, state or other governmental entity by reason of (or arising in part out of) any event or occurrence by reason of
the fact that the Beneficiary is or was a Director or Officer of the Company, or any Subsidiary, or is or was serving at the request of the Company as a director or officer of another corporation, partnership, joint venture, trust or other
enterprise, or by reason of any action or inaction on the part of the Beneficiary while serving in such capacity, shall be referred hereunder, collectively, as an “Indemnifiable Claim”. Subject to the limitations and exclusions set forth
in Section 3 below, the Beneficiary shall be compensated for Losses arising out of any Indemnifiable Claim by the D&O Insurance Policy or, if not compensated thereunder, by the Company to the fullest extent permitted by law. For purposes of
this Agreement, a “Subsidiary” shall mean an entity in which the Company directly or indirectly controls 50% or more of the entity’s voting securities. 

  
 B-3 

 For the purpose of the Offer, a “Claim” means (1) any threatened, asserted,
pending or completed claim, demand, action, suit or proceeding, whether civil, criminal, administrative, arbitrative, investigative or other, and whether made pursuant to foreign federal, state or other law; and (2) any inquiry or
investigation, made, instituted or conducted by any other party, including any foreign, federal, state or other governmental entity, that the Beneficiary determines might lead to the institution of any such claim, demand, action, suit or proceeding.

 To the fullest extent permitted by applicable laws and regulations and subject to the limitations and exclusions set forth in
Section 3 below, the D&O Insurance Policy shall provide for indemnification of the Beneficiary in line with Best Practices against reasonable and necessary expenses (including attorneys’ fees and all other costs, expenses and expenses
incurred in connection with investigating, defending or participating in (including on appeal), or preparing to defend or participate in, any such action, suit, proceeding, alternative dispute resolution mechanism, hearing, inquiry or investigation)
(collectively, “Expenses”) and any and all Losses in connection with an Indemnifiable Claim. 
 The Company shall in the first
instance pay on behalf of the Beneficiary any deductible or retention amounts due under the D&O Insurance Policy in connection with any Indemnifiable Claim or Claim for the payment of Expenses, to the fullest extent permitted by applicable laws
and regulations. 
 2.2. As a result of the acceptance and signature of this Offer by the Beneficiary, a bilateral contract will be formed
between the Company and the Beneficiary. 
 2.3. To the fullest extent permitted by applicable laws and regulations, the Company agrees that,
so long as a Director or Officer shall continue to serve as a Director or Officer of the Company or any Subsidiary, or shall continue at the request of the Company to serve as a director or officer of another corporation, partnership, joint venture,
trust or other enterprise, and, subject to Section 13.1 below, thereafter so long as a Director or Officer shall be subject to any Indemnifiable Claim, the Company will maintain in effect for the benefit of such Director or Officer one or more
valid, binding and enforceable insurance policies with the Insurance Company providing coverage, including with respect to limits of liability thereunder, at least comparable to that provided in this Offer, and such insurance policy or policies
shall be or be deemed to be the D&O Insurance Policy for all purposes of this Offer. 
 3. Exclusions 

The Beneficiary acknowledges that the Company shall not be required to indemnify the Beneficiary for Losses and Expenses incurred by a
Beneficiary with respect to the following Claims: 
 (i) any Claim relating to remuneration paid to the Beneficiary, if it shall be
determined that such remuneration was not due; 
 (ii) any Claim for which a judgment is rendered against the Beneficiary for an accounting
of profits made from the purchase or sale of, or the procurement to purchase or sell, securities of the Company pursuant to insider trading laws or regulations; 

  
 B-4 

 (iii) any Claim which is based on the Beneficiary’s willful or gross misconduct or on a
fraud or a fraudulent misrepresentation, intentional or fraudulent (or deemed to be so) misconduct, whether the Beneficiary has acted alone or as an accomplice if it should be finally determined that the Beneficiary is guilty of such misconduct;

 (iv) any Claim which is based on the Beneficiary’s criminal actions; 

(v) any Claim for (1) an accounting of profits made from the purchase and sale (or sale and purchase) by the Beneficiary of securities of
the Company within the meaning of Section 16(b) of the Exchange Act or any similar successor statute or any similar provisions of state statutory law or common law, or (2) any reimbursement of the Company by the Beneficiary of any bonus or
other incentive-based or equity-based compensation or of any profits realized by Indemnitee from the sale of securities of the Company, as required in each case under the Exchange Act (including any such reimbursements that arise from an accounting
restatement of the Company pursuant to Section 304 of the Sarbanes-Oxley Act of 2002 (the “Sarbanes-Oxley Act”), Section 954 of the Dodd-Frank Wall Street Reform and Consumer Protection Act or any comparable law, or the payment
to the Company of profits arising from the purchase and sale by the Beneficiary of securities in violation of Section 306 of the Sarbanes-Oxley Act or any comparable law); provided, however, that to the fullest extent permitted by
applicable law and to the extent the Beneficiary is successful on the merits or otherwise with respect to any such Claim, the Expenses actually and reasonably incurred by Indemnitee in connection with any such Claim shall be deemed to be Expenses
that are subject to indemnification hereunder; 
 (vi) any Claim which is based on a Beneficiary’s fault committed outside of the scope
of his/her duties as a Director or Officer; or 
 (vii) any Claim which is based on the Beneficiary’s actions taken in his or her
personal capacity (i.e. not within his or her capacities as a Director or Officer of the Company). 
 The Beneficiary further acknowledges
that the D&O Insurance Policy contains or may contain similar limitations on coverage for Losses or Expenses incurred by a Beneficiary, in each case with respect to Indemnifiable Claims, and that it does not cover Claims (i) pending, if
any, at the date this Offer is accepted and signed by the relevant Beneficiary, (ii) which arise from the settlement of any action or Claim without the Company’s written consent or, generally, that cannot be insured under applicable laws
and regulations; provided that the terms of the D&O Insurance Policy shall determine whether insurance coverage is available to the Beneficiary in connection with any Indemnifiable Claim, and that any limitations, restrictions or
exclusions contained in the Insurance Policy that are not mandated by applicable law shall not relieve the Company of its obligation to provide indemnification to the Beneficiary for Losses and Expenses in each case with respect to Indemnifiable
Claims to the fullest extent permitted by applicable laws and regulations and subject to the terms and conditions of this Offer. 

  
 B-5 

	4.	Notification and Defense of an Indemnifiable Claim 

 4.1. As soon as practicable
after the written receipt by the Beneficiary of an Indemnifiable Claim, the Beneficiary shall notify the Company in writing thereof, which notification shall specify (i) the existence and the nature of the Indemnifiable Claim and (ii) the
nature and the estimate of the amount of the Losses and Expenses with respect to an Indemnifiable Claim, together with such documentation and information as is reasonably available to the Beneficiary and is reasonably necessary to determine whether
and to what extent the Beneficiary is entitled to indemnification under this Agreement. 
 Failure to notify the Company as contemplated in
this Section 4.1 will not relieve the Company from liability under the Offer, except if the Company has been materially prejudiced by such failure. 

4.2. In the event the Beneficiary requests that the Company pay the Expenses or Losses of any Indemnifiable Claim, the Company shall be
entitled to assume the defense of such Indemnifiable Claim, or to participate to the extent permissible in such Indemnifiable Claim, with counsel reasonably acceptable to the Beneficiary. Upon the Company’s assumption of the defense and the
retention of such counsel by the Company, the Company shall not be liable to the Beneficiary under this Agreement for any Expenses of counsel subsequently incurred by the Beneficiary with respect to the same Indemnifiable Claim; provided that
the Beneficiary shall have the right to employ separate counsel in such Indemnifiable Claim at the Beneficiary’s sole cost and expense. Notwithstanding the foregoing, if the Beneficiary’s counsel delivers a written notice to the Company
stating that such counsel has reasonably concluded that there may be a conflict of interest between the Company and the Beneficiary in the conduct of any such defense or the Company shall not, in fact, have employed counsel or otherwise actively
pursued the defense of such Indemnifiable Claim within a reasonable time, then the Beneficiary may retain separate counsel in connection with such Indemnifiable Claim (provided that, unless there shall be any conflict of interest among the
Beneficiaries with respect to any Indemnified Claim based on advice of counsel, the same law firm may serve as counsel to all Beneficiaries in connection with the defense of any Indemnified Claim), and the fees and expenses of such separate counsel
to defend such Indemnifiable Claim shall be subject to the indemnification and advancement of Expenses provisions of this Agreement. 
 No
settlement of any Claim shall be agreed upon and entered into without the Company’s prior written consent. The Company will be relieved from any and all liability for such settlement of an Indemnifiable Claim if (i) the Company has not
provided its written consent to the settlement, and (ii) because of such settlement, the Beneficiary has been excluded from D&O Insurance Policy coverage or benefit or the Company has been materially prejudiced. 

 

	5.	Advance on Reimbursement of Expenses 

 (a) To the fullest extent permitted by
applicable laws and regulations and provided always that the Beneficiary has acted in good faith and within his or her capacities as a Director or Officer of the Company, the Expenses reasonably incurred by the Beneficiary in defending or
investigating any Indemnifiable Claim duly notified to the Company shall be paid by the Insurance Company or by default if any payment demand to the Insurance Company remains unsatisfied after 30 days, as well as if the maximum insurance coverage
under such D&O Policy is exceeded, by the Company, in advance of a final determination of the matter upon the request of the Beneficiary, upon presentation of satisfactory evidence that such Expenses have been incurred and remittance to the
Insurance Company or, as the case may be, the Company of the Beneficiary’s 

  
 B-6 

 
written commitment to repay these Expenses in the event that it is ultimately determined that the Beneficiary is not entitled to have these Expenses reimbursed; provided that the Company
shall not be liable for that portion of such Expenses actually provided to the Beneficiary under the D&O Insurance Policy (to the fullest extent permitted by applicable laws and regulations, such undertaking shall be accepted without reference
to the financial ability of the Beneficiary to make repayment and any advances and undertakings to repay pursuant to this Section 5 shall be unsecured and interest-free); provided, further, that no indemnification shall be
permitted (A) in the event that it is finally determined that: (i) the Beneficiary’s conduct forming the subject matter of the Indemnifiable Claim was not consistent with the corporate interests of the Company, or based on the
Beneficiary’s actions taken in his or her personal capacity, or constituted a fault committed outside of the scope of his/her duties as a Director or Officer of the Company; or (ii) the Beneficiary’s conduct was in bad faith,
knowingly fraudulent or deliberately dishonest or constituted willful misconduct, or (B) in connection with Indemnifiable Claims initiated or brought by the Beneficiary against the Company or its Directors, Officers, employees or other agents
and not by way of defense (except with respect to proceedings brought to establish or enforce a right to indemnification under this Agreement or otherwise available to the Beneficiary under another agreement or applicable law). 

(b) The termination of any Claim pursuant to an Indemnifiable Claim by judgment, order, settlement, conviction or upon a plea of nolo
contendere or its equivalent, shall not, absent specific findings in respect of the Beneficiary in the judgment, conviction of the Beneficiary or an acknowledgment by the Beneficiary in the settlement itself, create a presumption that the
Beneficiary did not act in good faith and in a manner that the Beneficiary reasonably believed to be in, or not opposed to, the best interests of the Company, and, with respect to any criminal proceeding, had reasonable cause to believe that his or
her conduct was unlawful. 
 (c) The Beneficiary shall cooperate with the person, persons or entity making such determination with respect
to the Beneficiary’s entitlement to indemnification, including providing to such person, persons or entity upon reasonable advance request any documentation or information which is not privileged or otherwise protected from disclosure and which
is reasonably available to the Beneficiary and reasonably necessary to such determination. 
 (d) If the Beneficiary is entitled under any
provision of this Agreement to indemnification by the Company for some or a portion of the Expenses and Losses, in each case with respect to an Indemnifiable Claim, paid in settlement actually and reasonably incurred by or on behalf of the
Beneficiary in connection with any Claim but not, however, for the total amount thereof, the Company shall nevertheless indemnify the Beneficiary for the portion of such Expenses or Losses, in each case with respect to an Indemnifiable Claim, to
which the Beneficiary is entitled. 
  

	6.	Payment by Company 

 To the fullest extent permitted by applicable laws and
regulations and provided always that the Beneficiary has acted in good faith and within his or her capacities as a Director or Officer of the Company, in the event that a Beneficiary shall not be indemnified for all the Expenses and Losses with
respect to an Indemnifiable Claim due to (a) the failure of the Company to obtain or maintain the D&O Insurance Policy in accordance with this Offer, as well as if the 

  
 B-7 

 
maximum insurance coverage shall be exceeded, or (b) the failure of the D&O Insurance Policy to pay the Expenses or Losses, the Company shall pay in full to the Beneficiary the amount of
any such Expenses and Losses to which the Beneficiary is entitled to be reimbursed or shall pay the difference between the amount received by the Beneficiary from the Insurance Company and such amount of reimbursement of the Expenses and Losses to
which it is so entitled, as the case may be. 
  

	7.	Subrogation; Primacy of Indemnification 

 Except as provided for below, in the
event of payment by the Company to the Beneficiary under the Offer, the Company shall be subrogated to the extent of such payment to all of the rights of recovery of the Beneficiary, who shall execute all papers required and shall do everything that
may be necessary to secure such rights, including the execution of such documents necessary to enable the Company effectively to bring suit to enforce such rights. 

[The Company hereby acknowledges that the Beneficiary has certain rights to indemnification, advancement of Expenses and/or insurance provided
by the Fund Indemnitors. The Company hereby agrees (i) that it is the indemnitor of first resort (i.e., its obligations to the Beneficiary are primary and any obligation of the Fund Indemnitors to advance expenses or to provide
indemnification for the same expenses or liabilities incurred by the Beneficiary are secondary), (ii) to the extent required by this Agreement it shall advance the full amount of Expenses incurred by the Beneficiary and be liable for the full amount
of all Expenses to the fullest extent permitted by applicable laws and regulations and as required by the terms of this Agreement (or any other agreement between the Company and the Beneficiary), without regard to any rights the Beneficiary may have
against the Fund Indemnitors, and, (iii) that it irrevocably waives, relinquishes and releases the Fund Indemnitors from any and all Claims against the Fund Indemnitors for contribution, subrogation or any other recovery of any kind in respect
thereof. The Company further agrees that no advancement or payment by the Fund Indemnitors on behalf of the Beneficiary with respect to any Claim for which the Beneficiary has sought indemnification from the Company shall affect the foregoing and
the Fund Indemnitors shall have a right of contribution and/or be subrogated to the extent of such advancement or payment to all of the rights of recovery of the Beneficiary against the Company. The Company and the Beneficiary agree that the Fund
Indemnitors are express third party beneficiaries of the terms hereof.]2 
  

	8.	Right to Payment Upon Application 

 Subject to the terms and conditions of
Section 5 hereof, all payments under the Offer to the extent relating to the reimbursement of the Expenses or any advances of Expenses shall be paid by the Company or on its behalf within 30 days after a written Claim for payment, together with
the written commitment contemplated by Section 5(a), have been received by the Company. Expenses reasonably incurred by the Beneficiary in connection with successfully establishing the right to payment according to the Offer, in whole or in part,
shall also be paid by the Company, to the fullest extent permitted by applicable laws and regulations. 
  

 

	2 	Include if any of the DM Directors is associated with an investment fund or other similar vehicle which provides them with indemnification. 

  
 B-8 

	9.	Offer Not Exclusive 

 This Offer shall not be deemed exclusive of any other rights
to which the Beneficiary may be entitled under any agreement, any vote of shareholders or disinterested directors, statute or otherwise. 
  

	10.	Notices 

 10.1. Any notices served pursuant to this Offer shall be sent by
registered mail with return receipt requested or delivered by hand against receipt if to the Company to the registered office located at 200, Avenue des Tamaris, ZAC Saint Antoine, 34130 Saint-Aunès,
France, if to the Beneficiary to the address indicated below at the end of this Offer. 
 10.2. Any change of address shall be notified by
the relevant party to the other party by registered mail with return receipt requested or delivered by hand against receipt within 15 days of the actual date of change of address. 

10.3. Notices shall be deemed to have been received on the date of reception of the registered letter, as evidenced by the return receipt or,
as the case may be, of the letter delivered by hand, as evidenced by the receipt. 
  

	11.	Amendments- Assignment 

 11.1. No alteration of, amendment to or waiver of any of
the provisions of this Offer shall be binding on the Company or any Beneficiary unless it is written and executed by a duly authorized representative of each of the Company and the Beneficiary as to whom the amendment or waiver relates. 

11.2. This Offer may not be assigned by the Company or, without the prior written consent of the Company, by any Beneficiary; provided,
however, a Beneficiary’s right to receive payments hereunder shall be assignable, whether by pledge, creation of a security interest or otherwise, including by a transfer by the Beneficiary’s will or by the laws of descent and
distribution. 
  

	12.	Successors

 The legal representatives of the parties or their successors shall be bound
by and may rely on all the terms of the Offer. This Agreement shall be binding upon and inure to the benefit of the Company and any successor to the Company, including any person acquiring directly or indirectly all or substantially all of the
business or assets of the Company whether by purchase, merger, consolidation, reorganization or otherwise (and such successor will thereafter be deemed the “Company” for purposes of this Agreement), but, for the avoidance of doubt and
consistent with Section 11.2 above, shall not otherwise be assignable or delegable by the Company. This Agreement shall inure to the benefit of and be enforceable by the Beneficiary’s personal or legal representatives, executors,
administrators, heirs, distributees, legatees and other successors. 

  
 B-9 

	13.	Miscellaneous Provisions 

 13.1. Term of Agreement. This Agreement shall continue
until and terminate upon the later of (a) six years after the date that the Beneficiary shall have ceased to serve as a Director or Officer of the Company or a Subsidiary or, at the request of the Company, as a director, officer, partner,
trustee, member, employee or agent of another corporation, partnership, joint venture, trust, limited liability company or other enterprise or (b) the final termination of all Claims pending on the date set forth in clause (a) in respect
of which the Beneficiary is granted rights of indemnification or advancement of Expenses hereunder and of any Claim commenced by the Beneficiary pursuant to Section 8 of this Agreement relating thereto. 

13.2. The parties agree that the provisions contained in the preamble hereto form an integral part of the Offer. 

13.3. Should any of the provisions of this Offer be held null and void or unenforceable for any reason whatsoever, the parties undertake to use
their best efforts to remedy the causes of such nullity, so that, except where such is impossible, the Offer shall remain in force without any discontinuity. 

13.4. The parties agree to provide any information as well as to execute and to deliver all documents reasonably required for the performance
of this Offer. 
 13.5. The words “includes” or “including” shall mean “including without limitation”. 

 

	14.	Applicable Law 

 This Offer shall be governed as to its validity, construction and
performance in accordance with the laws of the Republic of France. 
  

	15.	Disputes 

 Any dispute arising from the Offer or which are a result or a
consequence thereof shall be made subject to the jurisdiction of the Tribunal de Commerce de Paris. 
 [Signature Page Follows] 

  
 B-10 

	
	 Executed in
  

On
  

In two (2) original copies
  

	  

By

CEO (Directeur Général)

 Accepted by 
 Residing at 

On 
 being a Director or an Officer of the Company, as these
terms are defined in the Offer who hereby declares that he or she: 
  

	 	•	 	has a good and fair knowledge of the terms, conditions and exclusions of the Offer; 

  

	 	•	 	is fully aware that applicable French laws and regulations may limit a company’s ability to indemnify its directors against liability; 

 

	 	•	 	is fully aware that U.S. securities laws may also limit a company’s ability to indemnify in respect of liabilities arising under U.S. securities laws; and 

 

	 	•	 	formally and irrevocably accepts the Offer, as it stands. 

  

	
	  

 Signature Page to Offer to Subscribe Liability Insurance and Provide Indemnification 

  
 B-11 

 EXHIBIT C 
  

													
	 Name of Shareholder
	  	Number of
Subject Shares	 	  	Number of Votes
for Subject Shares	 	  	Number of Shares
of DM Voting Stock	 
	 Yeled
	  	 	12,605,598	  	  	 	22,214,083	  	  	 	1,921,820	  

  
 C-1

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