Document:

EX-4.3

 Exhibit 4.3 

Execution Version 

REGISTRATION RIGHTS AGREEMENT 

by and among 
 Boyd Gaming
Corporation 
 and the Guarantors party hereto 

and 
 BofA Securities, Inc.,

 as Representative of the Initial Purchasers 

Dated as of December 3, 2019 

 REGISTRATION RIGHTS AGREEMENT 

This Registration Rights Agreement (this “Agreement”) is made and entered into as of December 3, 2019 by and among Boyd
Gaming Corporation, a Nevada corporation (the “Company”), the guarantors named in Schedule A hereto and any subsidiary of the Company formed or acquired after the Closing Date that becomes a guarantor in accordance with the terms of
the Indenture (as defined below), and their respective successors and assigns (collectively, the “Guarantors”), and BofA Securities, Inc., on behalf of itself and as representative (the “Representative”) of the
several initial purchasers listed on Schedule A to the Purchase Agreement (as defined below) (collectively, the “Initial Purchasers”), who have agreed to purchase the Company’s 4.750% Senior Notes due 2027 (the “Initial
Notes”) fully and unconditionally guaranteed by the Guarantors (the “Guarantees”) pursuant to the Purchase Agreement (as defined below). The Initial Notes and the Guarantees attached thereto are herein collectively referred
to as the “Initial Securities.” 
 This Agreement is made pursuant to the Purchase Agreement, dated November 18, 2019
(the “Purchase Agreement”), among the Company, the Guarantors and the Representative, on behalf of itself and the Initial Purchasers, (i) for the benefit of the Initial Purchasers and (ii) for the benefit of the holders
from time to time of Initial Securities, including the Initial Purchasers. In order to induce the Initial Purchasers to purchase the Securities, the Company has agreed to provide the registration rights set forth in this Agreement. The execution and
delivery of this Agreement is a condition to the obligations of the Initial Purchasers set forth in Section 5(f) of the Purchase Agreement. 

The parties hereby agree as follows: 

SECTION 1.    Definitions. As used in this Agreement, the following capitalized terms shall have the following
meanings: 
 Additional Interest: As defined in Section 5 hereof. 

Advice: As defined in Section 6(c) hereof. 

Affiliate: As defined in Rule 144. 

Broker-Dealer: Any broker or dealer registered under the Exchange Act. 

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

Commission: The U.S. Securities and Exchange Commission. 

Consummate: An Exchange Offer shall be deemed “Consummated” for purposes of this Agreement upon the occurrence of
(i) the filing and effectiveness under the Securities Act of the Exchange Offer Registration Statement relating to the Exchange Securities to be issued in the 

 
Exchange Offer, (ii) the maintenance of such Exchange Offer Registration Statement continuously effective (subject to the terms hereof) and the keeping of the Exchange Offer open for a
period not less than the minimum period required pursuant to Section 3(b) hereof, and (iii) the delivery by the Company to the Registrar under the Indenture of Exchange Securities in the same aggregate principal amount as the aggregate
principal amount of Initial Securities that were validly tendered by Holders thereof pursuant to the Exchange Offer. The term “Consummation” has a corresponding meaning. 

Effectiveness Target Date: As defined in Section 5 hereof. 

Exchange Act: The Securities Exchange Act of 1934, as amended, and the rules and regulations of the Commission promulgated thereunder.

 Exchange Offer: An offer registered under the Securities Act by the Company and the Guarantors pursuant to a Registration
Statement pursuant to which the Company and the Guarantors shall offer the Holders of all outstanding Transfer Restricted Securities the opportunity to exchange all such outstanding Transfer Restricted Securities held by such Holders for Exchange
Securities in the aggregate principal amount equal to the aggregate principal amount of the Transfer Restricted Securities validly tendered in such exchange offer by such Holders and with terms that are identical in all respects to the Transfer
Restricted Securities (except that the Exchange Securities will not contain terms with respect to the Additional Interest provisions contained in Section 5 hereof and transfer restrictions). 

Exchange Offer Registration Statement: The Registration Statement required to be filed by the Company and the Guarantors with the
Commission pursuant to this Agreement relating to the Exchange Offer, including the related Prospectus. 
 Exchange Securities: The
4.750% Senior Notes due 2027 of the same series under the Indenture as the Initial Securities, guaranteed by the Guarantors, to be issued to Holders in exchange for Transfer Restricted Securities pursuant to this Agreement. 

FINRA: The Financial Industry Regulatory Authority, Inc. 

Guarantees: As defined in the preamble hereto. 

Guarantors: As defined in the preamble hereto. 

Holders: As defined in Section 2(b) hereof. 

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

Indenture: The Indenture, dated as of December 3, 2019 by and among the Company, the Guarantors and Wilmington Trust National
Association, as trustee (the “Trustee”), pursuant to which the Securities are to be issued, as such Indenture is amended or supplemented from time to time in accordance with the terms thereof. 

Initial Notes: As defined in the preamble hereto. 

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

Initial Securities: As defined in the preamble hereto. 

Interest Payment Date: As defined in the Indenture and the Securities. 

Person: An individual, partnership, corporation, limited liability company, trust or unincorporated organization, or a government or
agency or political subdivision thereof. 
 Prospectus: The prospectus included in a Registration Statement, as amended or
supplemented by any prospectus supplement and by all other amendments thereto, including post-effective amendments, and all material incorporated by reference into such Prospectus. 

Recommencement Date: As defined in Section 6(d) hereof. 

Registration Default: As defined in Section 5 hereof. 

Registration Statement: Any Exchange Offer Registration Statement or Shelf Registration Statement, which is filed pursuant to the
provisions of this Agreement, in each case, including the Prospectus included therein, all amendments and supplements thereto (including post-effective amendments) and all exhibits and material incorporated by reference therein. 

Related Proceedings: As defined in Section 12(i)(ii) hereof. 

Rule 144: Rule 144 under the Securities Act. 

Securities: The Initial Securities and the Exchange Securities. 

Securities Act: The Securities Act of 1933, as amended. 

Shelf Registration Statement: As defined in Section 4(a) hereof. 

Specified Courts: As defined in Section 12(i)(ii) hereof. 

Suspension Notice: As defined in Section 6(d) hereof. 

Suspension Rights: As defined in Section 6(c)(i) hereof. 

Transfer Restricted Securities: Each Initial Security, until the earliest to occur of (a) the date on which such Initial Security
is exchanged in the Exchange Offer for an Exchange Security entitled to be resold to the public by a Holder without complying with the prospectus delivery requirements of the Securities Act, (b) the date on which such Initial Security has been
effectively registered under the Securities Act and disposed of in accordance with a Shelf Registration Statement, (c) the date on which such Initial Security is distributed to the public by a Broker-Dealer pursuant to the “Plan of
distribution” contemplated by the Exchange Offer Registration Statement (including delivery of the Prospectus contained therein), (d) the date that the Initial Securities are freely 

  
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transferable (the “Freely Transferable Date”) in accordance with Rule 144 by a person that is not an Affiliate of the Company where no conditions under Rule 144 are then
applicable; provided, however, that the Freely Transferable Date shall not precede (i) the Consummation of the Exchange Offer, or (ii) as to such Initial Securities held by Holders that require the Company to file a Shelf
Registration Statement pursuant to Section 4(a) hereof, the expiration of the period that the Company is required, pursuant to Section 4(a) hereof, to keep such Shelf Registration Statement effective, and (e) such Initial Securities
have ceased to be outstanding. 
 Trust Indenture Act: The Trust Indenture Act of 1939, as amended. 

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

(a)    Transfer Restricted Securities. The securities entitled to the benefits of this Agreement are the Transfer
Restricted Securities. 
 (b)    Holders. Each Person who owns Transfer Restricted Securities is a
“Holder” (and collectively the “Holders”). 
 SECTION 3.    Registered Exchange
Offer. 
 (a)    Subject to Section 6(c)(i), unless the Exchange Offer shall not be permissible under applicable
federal law or Commission policy (after the procedures set forth in Section 6(a) hereof have been complied with), each of the Company and the Guarantors will use their respective commercially reasonable efforts to (i) cause a Registration
Statement under the Securities Act relating to the Exchange Securities and the Exchange Offer to become effective in accordance with the requirements of Section 3(b) hereof, (ii) in connection with the foregoing, (A) file all pre-effective amendments to such Registration Statement as may be necessary in order to cause such Registration Statement to become effective, (B) file, if applicable, a post-effective amendment to such
Registration Statement pursuant to Rule 430A under the Securities Act and (C) cause all necessary filings in connection with the registration and qualification of the Exchange Securities to be made under the state securities or blue sky laws of
such jurisdictions as are necessary to permit Consummation of the Exchange Offer, and (iii) promptly following the effectiveness of such Registration Statement, commence the Exchange Offer. The Exchange Offer Registration Statement shall be on
the appropriate form permitting registration of the Exchange Securities to be offered in exchange for the Transfer Restricted Securities and to permit resales of Initial Securities held by Broker-Dealers as contemplated by Section 3(c) hereof.

 (b)    The Company and the Guarantors shall use their respective commercially reasonable efforts to cause the
Exchange Offer Registration Statement to be effective continuously (subject to the terms hereof) and shall use their respective commercially reasonable efforts to keep the Exchange Offer open for a period of not less than the minimum period required
under applicable federal and state securities laws to Consummate the Exchange Offer; provided, however, that in no event shall such period be less than 20 Business Days after the date notice of the Exchange Offer is mailed to the Holders. The
Company shall cause the Exchange Offer to comply with all applicable federal and state securities laws. No securities other than the Exchange Securities shall be included 

  
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in the Exchange Offer Registration Statement. The Company and the Guarantors shall use their commercially reasonable efforts to cause the Exchange Offer to be Consummated not later than 365 days
after the Closing Date (or if such 365th day is not a Business Day, the next succeeding Business Day). 

(c)    The Company shall include in a “Plan of distribution” section contained in the Prospectus forming a part
of the Exchange Offer Registration Statement that any Broker-Dealer who holds Initial Securities that are Transfer Restricted Securities and that were acquired for its own account as a result of market-making activities or other trading activities
(other than Transfer Restricted Securities acquired directly from the Company), may exchange such Initial Securities pursuant to the Exchange Offer; however, such Broker-Dealer may be deemed to be an “underwriter” within the meaning of the
Securities Act and must, therefore, deliver a prospectus meeting the requirements of the Securities Act in connection with any resales of the Exchange Securities received by such Broker-Dealer in the Exchange Offer, which prospectus delivery
requirement may be satisfied by the delivery by such Broker-Dealer of the Prospectus contained in the Exchange Offer Registration Statement. Such “Plan of distribution” section shall also contain all other information with respect to such
resales by Broker-Dealers that the Commission may require in order to permit such resales pursuant thereto, but such “Plan of distribution” shall not name any such Broker-Dealer or disclose the amount of Initial Securities held by any such
Broker-Dealer except to the extent required by the Commission as a result of a change in policy after the date of this Agreement. 
 Each of
the Company and the Guarantors shall use its commercially reasonable efforts to keep the Exchange Offer Registration Statement continuously effective (subject to the terms hereof), supplemented and amended as required by the provisions of
Section 6(c) hereof to the extent necessary to ensure that it is available for resales of Initial Securities acquired by Broker-Dealers for their own accounts as a result of market-making activities or other trading activities, and to ensure
that it conforms with the requirements of this Agreement, the Securities Act and the policies, rules and regulations of the Commission as announced from time to time, for a period ending on the earlier of (i) 90 days from the date on which the
Exchange Offer Registration Statement is declared effective and (ii) the date on which a Broker-Dealer is no longer required to deliver a prospectus in connection with market-making or other trading activities. 

The Company shall provide sufficient copies of the latest version of such Prospectus to Broker-Dealers promptly upon request at any time
during such 90-day (or shorter as provided in the foregoing sentence) period in order to facilitate such resales. 

SECTION 4.    Shelf Registration. 

(a)    Shelf Registration. Subject to Section 6(c)(i), if (i) the Company and the Guarantors are not
required to file an Exchange Offer Registration Statement or consummate the Exchange Offer because the Exchange Offer is not permitted by applicable federal law or Commission policy (after the procedures set forth in Section 6(a) hereof have
been complied with), (ii) for any reason the Exchange Offer is not Consummated within 365 days after the Closing Date (or if such 365th day is not a Business Day, the next succeeding Business
Day), or (iii) with respect to any Holder of Transfer Restricted Securities, such Holder notifies the Company prior to the 10th Business Day following Consummation of the Exchange Offer that
(A) such Holder, alone or together with 

  
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Holders who hold in the aggregate at least $1.0 million in principal amount of Transfer Restricted Securities, is prohibited by applicable law or Commission policy from participating in the
Exchange Offer, or (B) such Holder may not resell the Exchange Securities acquired by it in the Exchange Offer to the public without delivering a prospectus and that the Prospectus contained in the Exchange Offer Registration Statement is not
appropriate or available for such resales by such Holder, or (C) such Holder is a Broker-Dealer and holds Initial Securities acquired directly from the Company or one of its Affiliates, then, upon such Holder’s request prior to the 10th Business Day following Consummation of the Exchange Offer, the Company and the Guarantors shall, subject to the Suspension Rights set forth in Section 6(c)(i) below, use commercially reasonable
efforts to: (i) cause to be filed a shelf registration statement pursuant to Rule 415 under the Securities Act, which may be an amendment to the Exchange Offer Registration Statement, unless an effective shelf registration statement pursuant to
Rule 415 under the Securities Act is already on file, provided that such shelf registration statement may be used to fully satisfy the Company’s obligations under the following paragraph, Section 6(b) and 6(c) (in any such event, the
“Shelf Registration Statement”); and (ii) cause such Shelf Registration Statement that is not already effective to be declared effective by the Commission not later than 365 days after the Closing Date (or if such 365th day is not a Business Day, the next succeeding Business Day). 
 Each of the Company and
the Guarantors shall use its commercially reasonable efforts to keep such Shelf Registration Statement continuously effective, supplemented and amended as required by the provisions of Sections 6(b) and (c) hereof to the extent necessary to
ensure that it is available for resales of Initial Securities by the Holders of Transfer Restricted Securities entitled to the benefit of this Section 4(a), and to ensure that it conforms with the requirements of this Agreement, the Securities
Act and the policies, rules and regulations of the Commission as announced from time to time, for a period of one year following the Closing Date, or one year following its effectiveness if such Shelf Registration Statement is filed at the request
of a Holder or Holders, (in each case, as such time may be extended pursuant to Section 6(d) hereof), or such shorter period as will terminate when all Transfer Restricted Securities covered by such Shelf Registration Statement have been sold
pursuant thereto or when all Initial Securities cease to be Transfer Restricted Securities. 
 (b)    Provision by
Holders of Certain Information in Connection with the Shelf Registration Statement. No Holder of Transfer Restricted Securities may include any of its Transfer Restricted Securities in any Shelf Registration Statement pursuant to this Agreement
unless and until such Holder furnishes to the Company in writing, within 10 Business Days after receipt of a request therefor, such information as the Company may reasonably request for use in connection with any Shelf Registration Statement or
Prospectus or preliminary Prospectus. Each Holder as to which any Shelf Registration Statement is being effected agrees to furnish promptly to the Company all information as requested by the Commission or as required to be disclosed in order to make
the information previously furnished to the Company by such Holder and/or contained in such Shelf Registration Statement or Prospectus or preliminary Prospectus not materially misleading. No Holder shall be entitled to Additional Interest pursuant
to Section 5 hereof unless and until (and from and after such time) such Holder shall have provided all information required pursuant to this Section 4(b). 

  
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 SECTION 5.    Additional Interest. Subject to the
Section 6(c)(i), if (i) any of such Shelf Registration Statement has not been declared effective by the Commission on or prior to the date specified for such effectiveness in this Agreement (the “Effectiveness Target
Date”), (ii) the Exchange Offer has not been Consummated within 365 days after the Closing Date with respect to the Exchange Offer Registration Statement or (iii) any Registration Statement required by this Agreement is filed and
declared effective but shall thereafter cease to be effective or fail to be usable for its intended purpose (without being succeeded immediately by a post-effective amendment to such Registration Statement that cures such failure and that is itself
declared effective) for a period in excess of 30 days (each such event referred to in clauses (i) through (iii), a “Registration Default”), the Company hereby agrees that the
interest rate borne by the Transfer Restricted Securities shall be increased by 0.25% per annum during the 90-day period immediately following the occurrence of any Registration Default (provided that the
Additional Interest on the Transfer Restricted Securities may not accrue under more than one Registration Default at any one time) and shall increase by 0.25% per annum at the end of each subsequent 90-day
period during which such Registration Default continues (any such increase, “Additional Interest”), but in no event shall such Additional Interest exceed 1.00% per annum. Following the cure of all Registration Defaults relating to
any particular Transfer Restricted Securities, the interest rate borne by the relevant Transfer Restricted Securities will be reduced to the original interest rate borne by such Transfer Restricted Securities; provided, however, that, if after any
such reduction in interest rate, a different Registration Default occurs, the interest rate borne by the relevant Transfer Restricted Securities shall again be increased pursuant to the foregoing provisions. 

A Registration Default referred to in this Section 5 shall be deemed not to have occurred and be continuing in relation to any
Registration Statement required by this Agreement or the related Prospectus if such Registration Default has occurred solely as a result of (i) the exercise of a Suspension Right by the Company pursuant to Section 6(c)(i) hereof,
(ii) actions taken by the Commission that are arbitrary, capricious or not otherwise in accordance with law. No Registration Default referred to in this Section 5 shall be deemed to have occurred as to a Holder if such Holder fails to
comply with its obligations under this Agreement or provide all information required pursuant to Section 4(b) herein. 
 All
obligations of the Company and the Guarantors set forth in the penultimate preceding paragraph that are outstanding with respect to any Transfer Restricted Security at the time such security ceases to be a Transfer Restricted Security shall survive
until such time as all such obligations with respect to such security shall have been satisfied in full. 
 The Additional Interest set
forth in this Section 5 shall be the exclusive remedy available to Holders for each Registration Default. 

SECTION 6.    Registration Procedures. 

(a)    Exchange Offer Registration Statement. In connection with the Exchange Offer, the Company and the Guarantor
shall comply with all of the provisions of Section 6(c) hereof, shall use their respective commercially reasonable efforts to effect such exchange to permit the sale of Transfer Restricted Securities being sold in accordance with the intended
method or methods of distribution thereof, and shall comply with all of the following provisions: 
 (i) If in the reasonable
opinion of counsel to the Company there is a question as to whether the Exchange Offer is permitted by applicable law, each of the Company and 

  
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the Guarantors hereby agrees to use its commercially reasonable efforts to seek a no-action letter or other favorable decision from the Commission allowing
the Company and the Guarantors to Consummate an Exchange Offer for such Initial Securities. Each of the Company and the Guarantors hereby agrees to pursue the issuance of such a decision to the Commission staff level but shall not be required to
take commercially unreasonable action to effect a change of Commission policy. Each of the Company and the Guarantors hereby agrees, however, to (A) participate in telephonic conferences with the Commission, (B) deliver to the Commission
staff an analysis prepared by counsel to the Company setting forth the legal bases, if any, upon which such counsel has concluded that such an Exchange Offer should be permitted and (C) diligently pursue a resolution by the Commission staff of
such submission. 
 (ii)    As a condition to its participation in the Exchange Offer pursuant to the
terms of this Agreement, each Holder of Transfer Restricted Securities shall furnish, upon the request of the Company, prior to the Consummation of the Exchange Offer, a written representation to the Company (which may be contained in the letter of
transmittal contemplated by the Exchange Offer Registration Statement) to the effect that (A) it is not an Affiliate of the Company, (B) it is not engaged in, and does not intend to engage in, and has no arrangement or understanding with
any Person to participate in, a distribution (within the meaning of the Securities Act) of the Exchange Securities, (C) it is acquiring the Exchange Securities in its ordinary course of business, (D) if (1) such Holder is a Broker-Dealer
and (2) such Holder acquired the Transfer Restricted Securities as a result of market-making activities or other trading activities, it will comply with the applicable provisions of the Securities Act (including, without limitation, the
Prospectus delivery requirements) and the applicable no-action positions of the Commission with respect to any resale of any Exchange Securities, and (E) such Holder has full corporate (or similar) power
and authority to transfer the Transfer Restricted Securities in exchange for the Exchange Securities. In addition, all such Holders of Transfer Restricted Securities shall otherwise cooperate in the Company’s preparations for the Exchange
Offer. Each Holder will be required to acknowledge and agree that any Broker-Dealer and any such Holder using the Exchange Offer to participate in a distribution of the securities to be acquired in the Exchange Offer (1) could not under
Commission policy as in effect on the date of this Agreement rely on the position of the Commission enunciated in Morgan Stanley and Co., Inc. (available June 5, 1991) and Exxon Capital Holdings Corporation (available May 13,
1988), as interpreted in the Commission’s letter to Shearman & Sterling dated July 2, 1993, and similar no-action letters (which may include any
no-action letter obtained pursuant to clause (i) above), and (2) must comply with the registration and prospectus delivery requirements of the Securities Act in connection with a secondary resale
transaction and that such a secondary resale transaction must be covered by an effective registration statement containing the selling security holder information required by Item 507 or 508, as applicable, of Regulation S-K if the resales are of Exchange Securities obtained by such Holder in exchange for Initial Securities acquired by such Holder directly from the Company. 

(b)    Shelf Registration Statement. In connection with the Shelf Registration Statement, each of the Company and
the Guarantors shall comply with all the provisions of Section 6(c) hereof and shall use its commercially reasonable efforts to effect such registration to permit the sale of the Transfer Restricted Securities being sold in accordance with the
intended method or methods of 

  
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distribution thereof, and pursuant thereto each of the Company and the Guarantors will as expeditiously as is commercially reasonably practicable prepare and file with the Commission a
Registration Statement (subject to the terms hereof) relating to the registration on any appropriate form under the Securities Act, which form shall be available for the sale of the Transfer Restricted Securities in accordance with the intended
method or methods of distribution thereof. 
 (c)    General Provisions. In connection with any Registration
Statement and any related Prospectus required by this Agreement to permit the sale or resale of Transfer Restricted Securities (including, without limitation, any Registration Statement and the related Prospectus required to permit resales of
Initial Securities by Broker-Dealers), each of the Company and the Guarantors shall: 
 (i)    use its
commercially reasonable efforts to keep such Registration Statement continuously effective (subject to the terms hereof) and provide all requisite financial statements (including, if required by the Securities Act or any regulation thereunder,
financial statements of the Guarantors) for the period specified in Section 3 or 4 hereof (it being understood that such financial statements shall be deemed provided to the extent filed with the Commission), as applicable. Upon the occurrence
of any event that would cause any such Registration Statement or the Prospectus contained therein (A) to contain an untrue statement of material fact or omit to state any material fact necessary to make the statements therein (and in the case
of the Prospectus or any supplement thereto, in light of the circumstances under which they were made) not misleading or (B) not to be effective and usable for resale of Transfer Restricted Securities during the period required by this
Agreement, the Company shall file as soon as practicable an appropriate amendment to such Registration Statement, in the case of clause (A), correcting any such misstatement or omission, and, in the case of either clause (A) or (B), use its
commercially reasonable efforts to cause such amendment to be declared effective and/or such Registration Statement and the related Prospectus to become usable for their intended purpose(s), as applicable, as soon as practicable thereafter.
Notwithstanding anything in this Agreement to the contrary, the Company and the Guarantors may allow the Exchange Offer Registration Statement or, if applicable, the Shelf Registration Statement, and the related Prospectus to cease to remain
effective and usable or may delay the filing or the effectiveness of the Exchange Registration Statement or, as applicable, the Shelf Registration Statement if not then filed or effective, as applicable (collectively, the “Suspension
Rights”), from time to time but in no event for more than 90 days in the aggregate in any six month period if (x) the board of directors of the Company (or a duly-appointed committee of the board of directors having power over the
subject matter) determines in good faith that it is in the best interests of the Company not to disclose the existence of or facts surrounding any proposed or pending material event involving the Company, the Guarantors or any of their respective
Affiliates, or (y) the Prospectus contained in the Exchange Offer Registration Statement or the Shelf Registration Statement, as the case may be, contains an untrue statement of a material fact or omits to state a material fact necessary in
order to make the statements therein, in light of the circumstances under which they were made, not misleading, in each case, if the Company determines reasonably and in good faith that compliance with the disclosure obligations of the applicable
Registration Statement at such time (either in filing or amending such Registration Statement or to maintain the effectiveness of such Registration Statement) 

  
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could reasonably be expected to materially adversely affect the Company, the Guarantors, any of their respective Affiliates, or a pending financing, acquisition, disposition, merger or other
material corporate event involving the Company, the Guarantors or any of their respective Affiliates (it being understood that the Company and the Guarantors shall be required to use their commercially reasonable efforts to proceed in good faith to
prepare or amend such Registration Statement or supplement to such related Prospectus, as applicable, as soon as reasonably practicable to describe such events or to otherwise cause such Registration Statement to be filed or become effective and the
related Prospectus to again be usable at such time as so doing would not have such a material adverse effect); provided that the 90-day period referred to in Section 3(c) during which the Exchange Offer
Registration Statement is required to be effective and usable or the period referred to in Section 4(a) hereof during which the Shelf Registration Statement is required to be effective and usable shall be extended by the number of days during
which such Registration Statement was not effective or usable pursuant to the foregoing provisions (which extension shall be the Holders’ sole remedy for the exercise by the Company of the Suspension Rights during the time period permitted
hereunder, but only to the extent that any suspension period does not violate the 90 day period set forth above). In the event of the exercise of a Suspension Right pursuant to this Section 6(c)(i), the Company shall mail notification to the
Holders within 10 Business Days after the board of directors (or applicable committee thereof) has made such election. 

(ii)    subject to the Section 6(c)(i), prepare and file with the Commission such amendments and
post-effective amendments to the applicable Registration Statement as may be necessary to keep the Registration Statement effective for the applicable period set forth in Section 3 or 4 hereof, as applicable, or such shorter period as will
terminate when all Transfer Restricted Securities covered by such Registration Statement have been sold or when all Initial Securities cease to be Transfer Restricted Securities; cause the Prospectus to be supplemented by any required Prospectus
supplement, and as so supplemented to be filed pursuant to Rule 424 under the Securities Act, and to comply fully with the applicable provisions of Rules 424 and 430A under the Securities Act in a timely manner; and comply with the provisions of the
Securities Act with respect to the disposition of all securities covered by such Registration Statement during the applicable period in accordance with the intended method or methods of distribution by the sellers thereof set forth in such
Registration Statement or supplement to the Prospectus; 
 (iii)    advise the underwriter(s), if any,
and selling Holders named in any Registration Statement promptly and, if requested by such Persons, to confirm such advice in writing, (A) when the Prospectus or any Prospectus supplement or post-effective amendment has been filed, and, with
respect to any Registration Statement or any post-effective amendment thereto, when the same has become effective, (B) of any request by the Commission for amendments to the Registration Statement or amendments or supplements to the Prospectus
or for additional information relating thereto, (C) of the issuance by the Commission of any stop order suspending the effectiveness of the Registration Statement under the Securities Act or of the suspension by any state securities commission
of the qualification of the Transfer Restricted Securities for offering or sale in any jurisdiction, or the initiation of any proceeding for any of the preceding purposes or pursuant to Section 8A of the Securities Act, and (D) of the
existence of any fact or the 

  
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happening of any event that makes any statement of a material fact made in the Registration Statement or the related Prospectus, any amendment or supplement thereto, or any document incorporated
by reference therein untrue, or any omission or alleged omission to state therein a material fact that requires the making of any additions to or changes in the Registration Statement or the Prospectus in order to make the statements therein (in the
case of the Prospectus, in light of the circumstances under which they were made) not misleading. If at any time the Commission shall issue any stop order suspending the effectiveness of the Registration Statement, or any state securities commission
or other regulatory authority shall issue an order suspending the qualification or exemption from qualification of the Transfer Restricted Securities under state securities or blue sky laws, each of the Company and the Guarantors shall use its
commercially reasonable efforts to obtain the withdrawal or lifting of such order at the earliest practicable time; 

(iv)    furnish without charge to each of the Initial Purchasers, each selling Holder named in any
Registration Statement, and each of the underwriter(s), if any, before filing with the Commission, copies of any Registration Statement or any Prospectus included therein or any amendments or supplements to any such Registration Statement or
Prospectus (including all documents incorporated by reference after the initial filing of such Registration Statement), which documents will be subject to the review and reasonable comment of such Holders and underwriter(s) in connection with such
sale, if any, for a period of at least three Business Days, and the Company will not file any such Registration Statement or Prospectus or any amendment or supplement to any such Registration Statement or Prospectus (including all such documents
incorporated by reference) to which an Initial Purchaser of Transfer Restricted Securities covered by such Registration Statement or the underwriter(s), if any, shall reasonably object in writing within three Business Days after the receipt thereof
(such objection to be deemed timely made upon confirmation of telecopy transmission within such period). The objection of an Initial Purchaser or underwriter, if any, shall be deemed to be reasonable if such Registration Statement, amendment,
Prospectus or supplement, as applicable, as proposed to be filed, contains a material misstatement or omission; 

(v)    promptly prior to the filing of any document that is to be incorporated by reference into a
Registration Statement or Prospectus, provide copies of such document to the Initial Purchasers, each selling Holder named in such Registration Statement or Prospectus, and to the underwriter(s), if any, make the Company’s and the
Guarantors’ representatives reasonably available for discussion of such document and other customary due diligence matters, and include such information in such document prior to the filing thereof as such selling Holders or underwriter(s), if
any, reasonably may request; 
 (vi)    make available at reasonable times for inspection by the Initial
Purchasers, the managing underwriter(s), if any, participating in any disposition pursuant to such Registration Statement and any attorney or accountant retained by such Initial Purchasers or any of the underwriter(s), all financial and other
records, pertinent corporate documents and properties of each of the Company and the Guarantors reasonably requested and cause the Company’s and the Guarantors’ officers, directors and employees to supply all such information reasonably
requested by any such Holder, underwriter, attorney or accountant in connection with such Registration Statement or any post-effective amendment thereto 

  
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subsequent to the filing thereof and prior to its effectiveness and to participate in meetings with investors to the extent reasonably requested by the managing underwriter(s), if any;
provided, however, that if any information is in good faith designated by the Company or the Guarantors in writing as confidential at the time of delivery of such information, the Initial Purchasers or any such underwriter, attorney,
accountant or other agent requesting or receiving such information shall agree to be bound by reasonable confidentiality agreements and procedures with respect thereto; 

(vii)    if requested by any selling Holders or the underwriter(s), if any, to the extent permissible under
the Securities Act or the Exchange Act, incorporate as promptly as practicable in any Registration Statement or related Prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such selling Holders and
underwriter(s), if any, may reasonably request to have included therein, including, without limitation, information relating to the “Plan of distribution” of the Transfer Restricted Securities, information with respect to the principal
amount of Transfer Restricted Securities being sold to such underwriter(s), the purchase price being paid therefor and any other terms of the offering of the Transfer Restricted Securities to be sold in such offering; and make all required filings
of such Prospectus supplement or post-effective amendment promptly after the Company is notified of the matters to be incorporated in such Prospectus supplement or post-effective amendment; 

(viii)    use its commercially reasonable efforts to cause the Transfer Restricted Securities covered by
the Registration Statement to be rated with the appropriate rating agencies, if requested by the Holders of a majority in aggregate principal amount of Securities covered thereby or the underwriter(s), if any; 

(ix)    to the extent requested, furnish to each Initial Purchaser, each selling Holder and each of the
underwriter(s), if any, without charge, at least one copy of the Registration Statement, as first filed with the Commission, and of each amendment thereto, including financial statements and schedules, but excluding all documents incorporated by
reference therein, if any, and all exhibits unless requested (in each case, only to the extent such document has not been made publicly available in the Commission’s EDGAR system or on the Company’s website); 

(x)    deliver to each selling Holder and each of the underwriter(s), if any, without charge, as many
copies of the Prospectus (including each preliminary prospectus) and any amendment or supplement thereto as such Persons reasonably may request; each of the Company and the Guarantors hereby consents to the use (in accordance with law and subject to
Section 6(d) hereof and any Suspension Rights) of the Prospectus and any amendment or supplement thereto by each of the selling Holders and each of the underwriter(s), if any, in connection with the offering and the sale of the Transfer
Restricted Securities covered by the Prospectus or any amendment or supplement thereto; 
 (xi)    enter
into such agreements (including an underwriting agreement) and make such representations and warranties, and take all such other actions in connection therewith in order to expedite or facilitate the disposition of the Transfer Restricted Securities
pursuant to any Registration Statement contemplated by this Agreement, all to such extent as may be 

  
 -12- 

 
customarily and reasonably requested by the Initial Purchasers or, in the case of registration for resale of Transfer Restricted Securities pursuant to the Shelf Registration Statement, by any
Initial Purchaser, if any, or any Holder or Holders of Transfer Restricted Securities who hold at least $25.0 million in aggregate principal amount of Transfer Restricted Securities; provided, that, the Company and the Guarantors shall
not be required to enter into any such agreement more than once with respect to all of the Transfer Restricted Securities and, in the case of a Shelf Registration Statement, may delay entering into such agreement if the board of directors (or any
committee thereof) of the Company determines in good faith that it is in the best interests of the Company and the Guarantors not to disclose the existence of or facts surrounding any proposed or pending material corporate event consistent with
Section 6(c)(i). In such connection, the Company and the Guarantors shall: 
 (A)    furnish to each
Initial Purchaser, each selling Holder and each underwriter, if any, in such substance and scope as they may reasonably request and as are customarily made by issuers to underwriters in primary underwritten offerings, upon the date of the
Consummation of the Exchange Offer or, if applicable, the effectiveness of the Shelf Registration Statement: 

(1)    a certificate, dated the date of Consummation of the Exchange Offer or the date of effectiveness of
the Shelf Registration Statement, as the case may be, signed by (x) the Chairman of the Board, Chief Executive Officer, President, Senior Vice President or any Vice President of the Company and each of the Guarantors and (y) the Chief
Financial Officer, Treasurer, Chief Accounting Officer or Vice President of Finance of the Company and each of the Guarantors, confirming, as of the date thereof, the matters set forth in paragraphs (i), (ii) and (iii) of Section 5(e) of
the Purchase Agreement and such other matters as such parties may reasonably request; 
 (2)    an
opinion and negative assurance letter, dated the date of Consummation of the Exchange Offer or the date of effectiveness of the Shelf Registration Statement, as the case may be, of counsel for the Company and the Guarantors, covering the matters set
forth in Section 5(c) of the Purchase Agreement and such other matters as such parties may reasonably request; and 

(3)    use its commercially reasonable efforts to cause to have delivered a customary comfort letter,
dated as of the date of Consummation of the Exchange Offer or the date of effectiveness of the Shelf Registration Statement, as the case may be, from the Company’s independent accountants, in customary form and covering matters of the type
customarily requested to be covered in comfort letters by underwriters in connection with primary underwritten offerings, and covering or affirming the matters set forth in the comfort letters delivered pursuant to Section 5(a) of the Purchase
Agreement; 
 (B)    set forth in full or incorporate by reference in the underwriting agreement, if any,
the indemnification provisions and procedures of Section 8 hereof with respect to all parties to be indemnified pursuant to said Section; and 

  
 -13- 

 (C)    deliver such other documents and certificates as
may be reasonably requested by such parties to evidence compliance with Section 6(c)(xi)(A) hereof and with any customary conditions contained in the underwriting agreement or other agreement entered into by the Company or any of the Guarantors
pursuant to this Section 6(c)(xi), if any. 
 (xii)    prior to any public offering of Transfer
Restricted Securities, cooperate with the selling Holders, the underwriter(s), if any, and their respective counsel in connection with the registration and qualification of the Transfer Restricted Securities under the state securities or blue sky
laws of such jurisdictions as the selling Holders or underwriter(s), if any, may reasonably request and do any and all other acts or things reasonably necessary or advisable to enable the disposition in such jurisdictions of the Transfer Restricted
Securities covered by the Shelf Registration Statement; provided, however, that none of the Company or any of the Guarantors shall be required to register or qualify as a foreign corporation where it is not then so qualified or to take any
action that would subject it to the service of process in suits or to taxation, other than as to matters and transactions relating to the Registration Statement, in any jurisdiction where it is not then so subject; 

(xiii)    shall issue, upon the request of any Holder of Initial Securities covered by the Shelf
Registration Statement, Exchange Securities having an aggregate principal amount equal to the aggregate principal amount of Initial Securities validly tendered or surrendered, as applicable, to the Company by such Holder in exchange therefor or
being sold by such Holder; such Exchange Securities to be registered in the name of such Holder or in the name of the purchaser(s) of such Securities, as the case may be; and, in return, the Initial Securities held by such Holder shall be
surrendered to the Company for cancellation; 
 (xiv)    cooperate with the selling Holders and the
underwriter(s), if any, to facilitate the timely preparation and delivery of certificates representing Transfer Restricted Securities to be sold and not bearing any restrictive legends; and enable such Transfer Restricted Securities to be in such
denominations and registered in such names as the Holders or the underwriter(s), if any, may request at least five Business Days prior to any sale of Transfer Restricted Securities made by such Holders or underwriter(s); 

(xv)    use its commercially reasonable efforts to cause the disposition of the Transfer Restricted
Securities covered by the Registration Statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the seller or sellers thereof or the underwriter(s), if any, to consummate the
disposition of such Transfer Restricted Securities, subject to the proviso contained in Section 6(c)(xii) hereof; 

(xvi)    subject to Section 6(d), if any fact or event contemplated by Section 6(c)(iii)(D)
hereof shall exist or have occurred, prepare a supplement or post-effective amendment to the Registration Statement or related Prospectus or any document incorporated therein by reference or file any other required document so that, as thereafter
delivered to the purchasers of Transfer Restricted Securities, the Prospectus will not contain an untrue statement of a material fact or omit to state any material fact necessary in order to make the statements therein (in light of the circumstances
under which they were made with respect to the Prospectus) not misleading; 

  
 -14- 

 (xvii)    provide a CUSIP number for all Securities not
later than the effective date of the Registration Statement covering such Securities and provide the Trustee under the Indenture with printed certificates for such Securities which are in a form eligible for deposit with the Depository Trust Company
and take all other action reasonably necessary to ensure that all such Securities are eligible for deposit with the Depository Trust Company; 

(xviii)    cooperate and assist in any filings required to be made with FINRA and in the performance of any
due diligence investigation by any underwriter (including any “qualified independent underwriter”) that is required to be retained in accordance with the rules and regulations of FINRA; 

(xix)    otherwise use its commercially reasonable efforts to comply, in all material respects, with all
applicable rules and regulations of the Commission, and make generally available to its security holders, as soon as practicable, a consolidated earnings statement meeting the requirements of Rule 158 under the Securities Act (which need not be
audited) for the twelve-month period (A) commencing at the end of any fiscal quarter in which Transfer Restricted Securities are sold to underwriters in a firm commitment or best efforts Underwritten Offering or (B) if not sold to
underwriters in such an offering, beginning with the first month of the Company’s first fiscal quarter commencing after the effective date of the Registration Statement; 

(xx)    cause the Indenture to be qualified under the Trust Indenture Act not later than the effective date
of the first Registration Statement required by this Agreement, and, in connection therewith, cooperate with the Trustee and the Holders of Securities to effect such changes to the Indenture as may be required for such Indenture to be so qualified
in accordance with the terms of the Trust Indenture Act; and to execute and use its commercially reasonable efforts to cause the Trustee to execute, all documents that may be required to effect such changes and all other forms and documents required
to be filed with the Commission to enable such Indenture to be so qualified in a timely manner; and 

(xxi)    provide promptly to each Holder upon request each document filed with the Commission pursuant to
the requirements of Section 13 and Section 15 of the Exchange Act. 
 (d)    Restrictions on Holders.
Each Holder agrees by acquisition of a Transfer Restricted Security that, upon receipt of the notice referred to in Section 6(c)(i) or 6(c)(iii)(C) or any notice from the Company of the existence of any fact of the kind described in
Section 6(c)(iii)(D) hereof (in each case, a “Suspension Notice”), such Holder will forthwith discontinue disposition of Transfer Restricted Securities pursuant to the applicable Registration Statement until (i) such
Holder has received copies of the supplemented or amended Prospectus contemplated by Section 6(c)(xvi) hereof, or (ii) such Holder is advised in writing by the Company that the use of the Prospectus may be resumed, and has received copies
of any additional or supplemental filings that are incorporated by reference in the Prospectus (in each case, the “Recommencement Date”). Each Holder receiving a Suspension Notice hereby agrees that it will either (i) destroy
any Prospectuses, other than 

  
 -15- 

 
permanent file copies, then in such Holder’s possession which have been replaced by the Company with more recently dated Prospectuses or (ii) deliver to the Company (at the
Company’s expense) all copies, other than permanent file copies, then in such Holder’s possession of the Prospectus covering such Transfer Restricted Securities that was current at the time of receipt of the Suspension Notice. The time
period regarding the effectiveness of such Registration Statement set forth in Section 3 or 4 hereof, as applicable, shall be extended by a number of days equal to the number of days in the period from and including the date of delivery of the
Suspension Notice to the Recommencement Date. Each Holder, by acquisition of a Transfer Restricted Security, further agrees to hold the fact that it has received any Suspension Notice, and any communication from the Company to the Holder relating to
an event giving rise to a Suspension Notice, in confidence, subject to clauses (1) through (4) of Section 6(c)(vi) hereof. 

SECTION 7.    Registration Expenses. 

(a)    All reasonable and customary expenses incident to the Company’s and the Guarantors’ performance of or
compliance with this Agreement will be borne by the Company and the Guarantors, jointly and severally, regardless of whether a Registration Statement becomes effective, including, without limitation: (i) all registration and filing fees and
expenses (including filings made by any Initial Purchaser or Holder with FINRA (and, if applicable, the fees and expenses of any “qualified independent underwriter” and its counsel that may be required by the rules and regulations of
FINRA)); (ii) all fees and expenses of compliance with federal securities and state securities or blue sky laws; (iii) all expenses of printing (including printing certificates for the Exchange Securities to be issued in the Exchange Offer and
printing of Prospectuses), messenger and delivery services and telephone; (iv) all fees and disbursements of counsel for the Company, the Guarantors and, subject to Section 7(b) hereof, the Holders of Transfer Restricted Securities;
(v) all application and filing fees in connection with listing the Exchange Securities on a securities exchange or automated quotation system pursuant to the requirements thereof; and (vi) all fees and disbursements of independent
certified public accountants of the Company and the Guarantors (including the expenses of any special audit and comfort letters required by or incident to such performance). Notwithstanding anything herein to the contrary, in no event shall the
Company or the Guarantors be required to pay, in the aggregate, in excess of $5,000.00 of fees or disbursements to counsel for any Initial Purchasers or Holder pursuant to clause (i). Except as expressly provided in this Section 7 and
Section 8 hereof, the Initial Purchasers and any Holders shall pay their own costs, fees and expenses, including the fees and disbursements of their counsel. 

Each of the Company and the Guarantors will, in any event, bear its internal expenses (including, without limitation, all salaries and
expenses of its officers and employees performing legal or accounting duties), the expenses of any annual audit and the fees and expenses of any Person, including special experts, retained by the Company or the Guarantors. Each Holder shall pay all
underwriting discounts, commissions, brokerage commissions and transfer taxes, if any, relating to the sale or disposition of such Holder’s Transfer Restricted Securities pursuant to the Shelf Registration Statement. 

(b)    In connection with any Shelf Registration Statement, the Company and the Guarantors, jointly and severally, will
reimburse the Initial Purchasers and the Holders of Transfer Restricted Securities being resold pursuant to the Shelf Registration Statement for the reasonable fees and disbursements of not more than one counsel, who shall be Cahill
Gordon & Reindel LLP or 

  
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such other counsel reasonably acceptable to the Company and the Guarantors as may be chosen by the Holders of a majority in principal amount of the Transfer Restricted Securities for whose
benefit such Registration Statement is being prepared. 
 SECTION 8.    Indemnification 

(a)    Indemnification of Indemnified Persons. The Company and the Guarantors, jointly and severally, agree to
indemnify and hold harmless (i) each Holder, (ii) each Initial Purchaser, (iii) each Person, if any, who controls (within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act) any Holder or any
Initial Purchaser (any of the Persons referred to in this clause (iii) being hereinafter referred to as a “controlling person”), and (iv) the respective officers, directors, partners, employees, representatives and agents of any
Holder, any Initial Purchaser or any controlling person (any Person referred to in clause (i), (ii), (iii) or (iv) may hereinafter be referred to as an “Indemnified Person”), to the fullest extent lawful, from and against any
and all losses, claims, damages, liabilities, judgments, actions and expenses (including, without limitation, and as incurred, reimbursement of all reasonable costs of investigating, preparing, pursuing, settling, compromising, paying or defending
any claim or action, or any investigation or proceeding by any governmental agency or body, commenced or threatened, including the reasonable fees and expenses of counsel to any Indemnified Person), joint or several, directly or indirectly caused
by, related to, based upon, arising out of or in connection with (x) any untrue statement or alleged untrue statement of a material fact contained in any Registration Statement (or any amendment or supplement thereto), or any omission or
alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading or (y) any untrue statement or alleged untrue statement of a material fact contained in any Prospectus
(or any amendment or supplement thereto), or any omission or alleged omission to state therein a material fact necessary to make the statements therein, in light of the circumstances under which they were made, not misleading, except with respect to
clauses (x) or (y) insofar as such losses, claims, damages, liabilities or expenses are caused by an untrue statement or omission or alleged untrue statement or omission that is made in reliance upon and in conformity with any information
relating to any of the Holders furnished in writing to the Company by any of the Holders or any information relating to any Initial Purchaser furnished in writing to the Company through the Representative, in each case, expressly for use therein.
This indemnity agreement shall be in addition to any liability which the Company or the Guarantors may otherwise have. 

(b)    Indemnification of the Company and the Guarantors. Each Holder of Transfer Restricted Securities agrees,
severally and not jointly, to indemnify and hold harmless the Company, the Guarantors and their respective directors, officers of the Company and the Guarantors who sign a Registration Statement, and any Person controlling (within the meaning of
Section 15 of the Securities Act or Section 20 of the Exchange Act) the Company or any of the Guarantors, and the respective officers, directors, partners, employees, representatives and agents of each such Person, to the same extent as
the foregoing indemnity from the Company and the Guarantors set forth in paragraph (a) above, but only with respect to claims and actions based on information relating to such Holder furnished in writing by such Holder expressly for use in any
Registration Statement. In case any action or proceeding shall be brought against the Company, the Guarantors or their respective directors or officers or any such controlling person in respect of which indemnity may be sought against a Holder of
Transfer Restricted Securities, such Holder shall have the rights and duties given the Company and the Guarantors, and their respective directors and officers and such controlling person shall have the rights and duties given to each Holder by the
preceding paragraph. 

  
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 (c)    Notification and Other Indemnification Procedure. Promptly
after receipt by an indemnified party under this Section 8 of notice of the commencement of any action, such indemnified party will, if a claim in respect thereof is to be made against an indemnifying party under this Section 8, notify the
indemnifying party in writing of the commencement thereof; but the failure to so notify the indemnifying party (i) will not relieve it from any liability under paragraph (a) or (b) above unless and to the extent it did not otherwise learn
of such action and such failure results in the forfeiture by the indemnifying party of substantial rights and defenses and (ii) will not, in any event, relieve the indemnifying party from any liability other than the indemnification obligation
provided in paragraph (a) or (b) above. In case any such action is brought against any indemnified party and such indemnified party seeks or intends to seek indemnity from an indemnifying party, the indemnifying party will be entitled to
participate in and, to the extent that it shall elect, jointly with all other indemnifying parties similarly notified, by written notice delivered to the indemnified party promptly after receiving the aforesaid notice from such indemnified party, to
assume the defense thereof with counsel reasonably satisfactory to such indemnified party; provided, however, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have
reasonably concluded that a conflict may arise between the positions of the indemnifying party and the indemnified party in conducting the defense of any such action or that there may be legal defenses available to it and/or other indemnified
parties which are different from or additional to those available to the indemnifying party, the indemnified party or parties shall have the right to select separate counsel to assume such legal defenses and to otherwise participate in the defense
of such action on behalf of such indemnified party or parties. Upon receipt of notice from the indemnifying party to such indemnified party of such indemnifying party’s election so to assume the defense of such action and approval by the
indemnified party of counsel, the indemnifying party will not be liable to such indemnified party under this Section 8 for any legal or other expenses subsequently incurred by such indemnified party in connection with the defense thereof unless
(i) the indemnified party shall have employed separate counsel in accordance with the proviso to the immediately preceding sentence (it being understood, however, that the indemnifying party shall not be liable for the expenses of more than one
separate counsel (together with local counsel (in each jurisdiction)), which shall be approved by the indemnified party or (ii) the indemnifying party shall not have employed counsel satisfactory to the indemnified party to represent the
indemnified party within a reasonable time after notice of commencement of the action, in each of which cases the fees and expenses of counsel shall be at the expense of the indemnifying party. 

(d)    Settlements. The indemnifying party under this Section 8 shall not be liable for any settlement of any
proceeding effected without its written consent, which will not be unreasonably withheld, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party against
any loss, claim, damage, liability or expense by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for
fees and expenses of counsel as contemplated by this Section 8, the indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more
than 30 days after receipt by such indemnifying party of the aforesaid request and (ii) such indemnifying party shall not have 

  
 -18- 

 
reimbursed the indemnified party in accordance with such request or disputed in good faith the indemnified party’s entitlement to such reimbursement prior to the date of such settlement. No
indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement, compromise or consent to the entry of judgment in any pending or threatened action, suit or proceeding in respect of which any indemnified
party is or could have been a party and indemnity was or could have been sought hereunder by such indemnified party, unless such settlement, compromise or consent (i) includes an unconditional release of such indemnified party from all
liability on claims that are the subject matter of such action, suit or proceeding and (ii) does not include any statements as to or an admission of fault, culpability or failure to act by or on behalf of any indemnified party. 

(e)    If the indemnification provided for in this Section 8 is unavailable or otherwise insufficient to hold
harmless an indemnified party under Section 8(a) or (b) hereof in respect of any losses, claims, damages, liabilities, judgments, actions or expenses referred to therein, then each applicable indemnifying party, in lieu of indemnifying
such indemnified party, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages, liabilities or expenses (i) in such proportion as is appropriate to reflect the relative benefits
received by the Company and the Guarantors from the Initial Placement, on the one hand, and by the Holders from receiving Initial Securities or Exchange Securities, on the other hand (which (x) in the case of the Company and the Guarantors
shall be deemed to be equal to (A) the total gross proceeds received by the Company and the Guarantors from the Initial Placement and (B) the total amount of Additional Interest which did not become payable as a result of the filing of the
Registration Statement which resulted in such losses, claims, damages, liabilities, judgments actions or expenses, and (y) in the case of each Holder shall be deemed to be equal to the fair market value of the Initial Securities or the Exchange
Securities held by such Holder), or (ii) if the allocation provided by clause (i) is not permitted by applicable law, the relative fault of the Company and the Guarantors, on the one hand, and the Holders, on the other hand, in connection
with the statements or omissions which resulted in such losses, claims, damages, liabilities or expenses, as well as any other relevant equitable considerations. The relative fault of the Company, on the one hand, and of the Holders, on the other,
shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Company or any of the
Guarantors, on the one hand, or the Holders, on the other hand, and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The amount paid or payable by a party as a
result of the losses, claims, damages, liabilities and expenses referred to above shall be deemed to include, subject to the limitations set forth in the second paragraph of Section 8(e) hereof, any legal or other fees or expenses reasonably
incurred by such party in connection with investigating or defending any action or claim. 
 The Company, the Guarantors and each Holder of
Transfer Restricted Securities agree that it would not be just and equitable if contribution pursuant to this Section 8(e) were determined by pro rata allocation (even if the Holders were treated as one entity for such purpose) or by any other
method of allocation which does not take account of the equitable considerations referred to in the immediately preceding paragraph. The amount paid or payable by an indemnified party as a result of the losses, claims, damages, liabilities or
expenses referred to in the immediately preceding paragraph shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or

  
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defending any such action or claim. Notwithstanding the provisions of this Section 8, no Holder shall be required to contribute, in the aggregate, any amount in excess of the amount by which
the total price at which the Exchange Securities sold by such Holder exceeds the amount of any damages which such Holder has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No
Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. The Holders’ obligations
to contribute pursuant to this Section 8(e) are several in proportion to the respective principal amount of Initial Securities held by each of the Holders hereunder and not joint. 

SECTION 9.    Rule 144A. Each of the Company and the Guarantors hereby agrees with each Holder, for so long as
any Transfer Restricted Securities remain outstanding, if the Company is not required to file reports under the Exchange Act (and the Initial Securities are deemed Transfer Restricted Securities), to make available to any Holder or beneficial owner
of Transfer Restricted Securities in connection with any sale thereof and any prospective purchaser of such Transfer Restricted Securities from such Holder or beneficial owner, the information required by Rule 144A(d)(4) under the Securities Act in
order to permit resales of such Transfer Restricted Securities pursuant to Rule 144A under the Securities Act. 

SECTION 10.    Participation in Underwritten Registrations. No Holder may participate in any Underwritten
Registration hereunder unless such Holder (a) agrees to sell such Holder’s Transfer Restricted Securities on the basis provided in any underwriting arrangements approved by the Persons entitled hereunder to approve such arrangements and
(b) completes and executes all reasonable questionnaires, powers of attorney, indemnities, underwriting agreements, lock-up letters and other documents required under the terms of such underwriting
arrangements. 
 SECTION 11.    Selection of Underwriters. The Holders of Transfer Restricted Securities
covered by the Shelf Registration Statement who desire to do so may sell such Transfer Restricted Securities in an Underwritten Offering. In any such Underwritten Offering, the investment banker(s) and managing underwriter(s) that will administer
such offering will be selected by the Holders of a majority in aggregate principal amount of the Transfer Restricted Securities included in such offering; provided, however, that such investment banker(s) and managing underwriter(s) must be
reasonably satisfactory to the Company. 
 SECTION 12.    Miscellaneous. 

(a)    Remedies. Each of the Company and the Guarantors hereby agrees that monetary damages would not be adequate
compensation for any loss incurred by reason of a breach by it of the provisions of this Agreement and hereby agree to waive the defense in any action for specific performance that a remedy at law would be adequate. 

(b)    No Inconsistent Agreements. Each of the Company and the Guarantors will not on or after the date of this
Agreement, except as permitted by, or pursuant to the terms of, the Indenture, enter into any agreement with respect to its securities that is inconsistent with the rights granted to the Holders in this Agreement or otherwise conflicts with the
provisions hereof. Neither the Company nor any of the Guarantors has previously entered into any agreement granting any registration rights with respect to its securities to any Person. The rights granted to the Holders

  
 -20- 

 
hereunder do not in any way conflict with and are not inconsistent with the rights granted to the holders of the Company’s or any of the Guarantors’ securities under any agreement in
effect on the date hereof. 
 (c)    Adjustments Affecting the Securities. Except as permitted by, or pursuant to
the terms of, the Indenture, the Company and the Guarantors will not take any action, or permit any change to occur, with respect to the Securities that would materially and adversely affect the ability of the Holders to Consummate any Exchange
Offer. 
 (d)    Amendments and Waivers. The provisions of this Agreement may not be amended, modified or
supplemented, and waivers or consents to or departures from the provisions hereof may not be given unless the Company has (i) in the case of Section 5 hereof and this Section 12(d)(i), obtained the written consent of Holders of all
outstanding Transfer Restricted Securities and (ii) in the case of all other provisions hereof, obtained the written consent of Holders of a majority of the outstanding principal amount of Transfer Restricted Securities (excluding any Transfer
Restricted Securities held by the Company or its Affiliates). Notwithstanding the foregoing, a waiver or consent to departure from the provisions hereof that relates exclusively to the rights of Holders whose securities are being tendered pursuant
to the Exchange Offer and that does not affect directly or indirectly the rights of other Holders whose securities are not being tendered pursuant to such Exchange Offer may be given by the Holders of a majority of the outstanding principal amount
of Transfer Restricted Securities being tendered or registered; provided, however, that, with respect to any matter that directly or indirectly affects the rights of any Initial Purchaser hereunder, the Company shall obtain the written
consent of each such Initial Purchaser with respect to which such amendment, qualification, supplement, waiver, consent or departure is to be effective. 

(e)    Notices. All notices and other communications provided for or permitted hereunder shall be made in writing
by hand-delivery, first-class mail (registered or certified, return receipt requested), facsimile or courier guaranteeing overnight delivery: 

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

Boyd Gaming Corporation     

3883 Howard Hughes Parkway, 9th Floor 

Las Vegas, NV 89169 
 Facsimile:
(702) 792-7214 
 Attention: Josh Hirsberg 

With a copy to: 

Boyd Gaming Corporation 
 3883
Howard Hughes Parkway, 9th Floor 
 Las Vegas, NV 89169 

Facsimile: (702) 696-1114 

Attention: Brian A. Larson 

  
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 With a further copy (which shall not constitute notice) to: 

Latham & Watkins LLP 

885 Third Avenue 
 New York, NY
10022 
 Facsimile: (212) 751-4864 

Attention: Senet Bischoff 

(iii)    if to the Initial Purchasers, to the Representative, as follows: 

BofA Securities, Inc. 
 50
Rockefeller Plaza 
 New York, New York 10020 

Facsimile: (917)267-7085 

Attention: High Yield Legal Department 

with a copy to: 
 Cahill
Gordon & Reindel LLP 
 80 Pine Street 

New York, New York 10005 

Facsimile: (212) 378-2500 

Attention: William J. Miller 

All such notices and communications shall be deemed to have been duly given: at the time delivered by hand, if personally delivered; five
Business Days after being deposited in the mail, postage prepaid, if mailed; when receipt is acknowledged, if by facsimile; and on the next Business Day, if timely delivered to a courier guaranteeing overnight delivery. 

Copies of all such notices, demands or other communications shall be concurrently delivered by the Person giving the same to the Trustee at
the address specified in the Indenture. 
 (f)    Successors and Assigns. This Agreement shall inure to the
benefit of and be binding upon the successors and assigns of each of the parties, including, without limitation, and without the need for an express assignment, subsequent Holders of Transfer Restricted Securities; provided, however, nothing
herein shall be deemed to permit any assignment, transfer or other disposition of Transfer Restricted Securities in violation of the terms hereof or of the Purchase Agreement or the Indenture. If any transferee of any Holder shall acquire Transfer
Restricted Securities in any manner, whether by operation of law or otherwise, such Transfer Restricted Securities shall be held subject to all of the terms of this Agreement, and by taking and holding such Transfer Restricted Securities such Person
shall be conclusively deemed to have agreed to be bound by and to perform all of the terms and provisions of this Agreement, including the restrictions on resale set forth in this Agreement and, if applicable, the Purchase Agreement, and such Person
shall be entitled to receive the benefits hereof. 

  
 -22- 

 (g)    Counterparts. This Agreement may be executed in any number
of counterparts and by the parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. Delivery of an executed counterpart of
a signature page to this Agreement by facsimile, email or other electronic means shall be effective as delivery of a manually executed counterpart of this Agreement. 

(h)    Headings. The headings in this Agreement are for convenience of reference only and shall not limit or
otherwise affect the meaning hereof. 
 (i)    Governing Law; Consent to Jurisdiction and Waiver of Jury Trial. 

 (i)    THIS AGREEMENT AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO THIS AGREEMENT
SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF NEW YORK APPLICABLE TO AGREEMENTS MADE AND TO BE PERFORMED IN SUCH STATE WITHOUT REGARD TO CONFLICTS OF LAW PRINCIPLES THEREOF. 

(ii)    Furthermore, any legal suit, action or proceeding arising out of or based upon this Agreement or
the transactions contemplated hereby (“Related Proceedings”) may be instituted in the federal courts of the United States of America located in the City and County of New York or the courts of the State of New York in each case
located in the City and County of New York (collectively, the “Specified Courts”), and each party irrevocably submits to the exclusive jurisdiction (except for suits, actions, or proceedings instituted in regard to the enforcement
of a judgment of any Specified Court in a Related Proceeding, as to which such jurisdiction is nonexclusive) of the Specified Courts in any Related Proceeding. Service of any process, summons, notice or document by mail to such party’s address
set forth above shall be effective service of process for any Related Proceeding brought in any Specified Court. The parties irrevocably and unconditionally waive any objection to the laying of venue of any Specified Proceeding in the Specified
Courts and irrevocably and unconditionally waive and agree not to plead or claim in any Specified Court that any Related Proceeding brought in any Specified Court has been brought in an inconvenient forum. 

(iii)    Waiver of Jury Trial. The parties hereto hereby waive all right to trial by jury in any
proceeding (whether based upon contract, tort or otherwise) in any way arising out of or relating to this Agreement. The parties hereto agree that a final judgment in any such proceeding brought in any such court shall be conclusive and binding upon
such Person and may be enforced in any other courts in the jurisdiction of which such Person(s) are or may be subject, by suit upon such judgment. Each party hereto (a) certifies that no representative, agent or attorney of any other person has
represented, expressly or otherwise, that such other person would not, in the event of litigation, seek to enforce the foregoing waiver and (b) acknowledges that it and the other parties hereto have been induced to enter into this agreement by
among other things, the mutual waivers and certifications in this Section. 

  
 -23- 

 (j)    Severability. In the event that any one or more of the
provisions contained herein, or the application thereof in any circumstance, is held invalid, illegal or unenforceable, the validity, legality and enforceability of any such provision in every other respect and of the remaining provisions contained
herein shall not be affected or impaired thereby. 
 (k)    Entire Agreement. This Agreement is intended by the
parties as a final expression of their agreement and intended to be a complete and exclusive statement of the agreement and understanding of the parties hereto in respect of the subject matter contained herein. There are no restrictions, promises,
warranties or undertakings, other than those set forth or referred to herein with respect to the registration rights granted by the Company with respect to the Transfer Restricted Securities. This Agreement supersedes all prior agreements and
understandings between the parties with respect to such subject matter. 
 (Signature Pages Follow) 

  
 -24- 

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

			
	BOYD GAMING CORPORATION
		
	BY:	 	 /s/ Josh Hirsberg

	Name:	 	Josh Hirsberg
	Title:	 	Executive Vice President, Chief Financial Officer and Treasurer
	
	BOYD TUNICA, INC.
		
	BY:	 	 /s/ Keith E. Smith

	Name:	 	Keith E. Smith
	Title:	 	Director and President
	
	BLUE CHIP CASINO, LLC
		
	BY:	 	 /s/ Keith E. Smith

	Name:	 	Keith E. Smith
	Title:	 	Manager and President
	
	CALIFORNIA HOTEL AND CASINO
		
	BY:	 	 /s/ Keith E. Smith

	Name:	 	Keith E. Smith
	Title:	 	Director and President
	
	SAM-WILL, INC.
		
	BY:	 	 /s/ Keith E. Smith

	Name:	 	Keith E. Smith
	Title:	 	Director and President

 
			
	M.S.W. INC.
		
	BY:	 	 /s/ Keith E. Smith

	Name:	 	Keith E. Smith
	Title:	 	Director and President
	
	CALIFORNIA HOTEL FINANCE CORPORATION
		
	BY:	 	 /s/ Keith E. Smith

	Name:	 	Keith E. Smith
	Title:	 	Director and President
	
	BOYD ACQUISITION, LLC
		
	BY:	 	 /s/ Keith E. Smith

	Name:	 	Keith E. Smith
	Title:	 	Manager and President
	
	BOYD ACQUISITION I, LLC
		
	BY:	 	 /s/ Keith E. Smith

	Name:	 	Keith E. Smith
	Title:	 	Manager and President
	
	BOYD ACQUISITION II, LLC
		
	BY:	 	 /s/ Keith E. Smith

	Name:	 	Keith E. Smith
	Title:	 	Manager and President
	
	BOYD LOUISIANA RACING, LLC
		
	BY:	 	 /s/ Keith E. Smith

	Name:	 	Keith E. Smith
	Title:	 	Manager and President
	
	TREASURE CHEST CASINO, L.L.C.
		
	BY:	 	 /s/ Keith E. Smith

	Name:	 	Keith E. Smith
	Title:	 	Manager, President and Chief Executive Officer

 
			
	ALIANTE GAMING, LLC
		
	BY:	 	 /s/ Keith E. Smith

	Name:	 	Keith E. Smith
	Title:	 	President
	
	ALST CASINO HOLDCO LLC
		
	BY:	 	 /s/ Keith E. Smith

	Name:	 	Keith E. Smith
	Title:	 	President
	
	BELLE OF ORLEANS, L.L.C.
		
	BY:	 	 /s/ William S. Boyd

	Name:	 	William S. Boyd
	Title:	 	Manager and President
	
	BOYD BILOXI, LLC
		
	BY:	 	 /s/ Keith E. Smith

	Name:	 	Keith E. Smith
	Title:	 	Manager and President
	
	BOYD RACING, L.L.C.
		
	BY:	 	 /s/ Keith E. Smith

	Name:	 	Keith E. Smith
	Title:	 	Manager and President
	
	COAST CASINOS, INC.
		
	BY:	 	 /s/ Keith E. Smith

	Name:	 	Keith E. Smith
	Title:	 	Director and President
	
	COAST HOTELS AND CASINOS, INC.
		
	BY:	 	 /s/ Keith E. Smith

	Name:	 	Keith E. Smith
	Title:	 	Director and President

 
			
	DIAMOND JO WORTH, LLC
		
	BY:	 	 /s/ William S. Boyd

	Name:	 	William S. Boyd
	Title:	 	Manager and President
	
	DIAMOND JO, LLC
		
	BY:	 	 /s/ William S. Boyd

	Name:	 	William S. Boyd
	Title:	 	Manager and President
	
	KANSAS STAR CASINO, LLC
		
	BY:	 	 /s/ William S. Boyd

	Name:	 	William S. Boyd
	Title:	 	Manager and President
	
	NEVADA PALACE, LLC
		
	BY:	 	 /s/ Keith E. Smith

	Name:	 	Keith E. Smith
	Title:	 	President
	
	PAR-A-DICE GAMING CORPORATION
		
	BY:	 	 /s/ Keith E. Smith

	Name:	 	Keith E. Smith
	Title:	 	Secretary, Director and President
	
	RED RIVER ENTERTAINMENT OF SHREVEPORT, L.L.C.
		
	BY:	 	 /s/ Keith E. Smith

	Name:	 	Keith E. Smith
	Title:	 	Manager and President

 
			
	THE CANNERY HOTEL AND CASINO, LLC
		
	BY:	 	 /s/ Keith E. Smith

	Name:	 	Keith E. Smith
	Title:	 	President
	
	PENINSULA GAMING, LLC
		
	BY:	 	 /s/ William S. Boyd

	Name:	 	William S. Boyd
	Title:	 	Manager and President
	
	THE OLD EVANGELINE DOWNS, L.L.C.
		
	BY:	 	 /s/ William S. Boyd

	Name:	 	William S. Boyd
	Title:	 	Manager and President
	
	PNK (OHIO), LLC
		
	BY:	 	 /s/ Brian A. Larson

	Name:	 	Brian A. Larson
	Title:	 	Executive Vice President and Secretary
	
	PNK (OHIO) II, LLC
		
	BY:	 	 /s/ Brian A. Larson

	Name:	 	Brian A. Larson
	Title:	 	Executive Vice President and Secretary
	
	PNK (OHIO) III, LLC
		
	BY:	 	 /s/ Brian A. Larson

	Name:	 	Brian A. Larson
	Title:	 	Executive Vice President and Secretary

 
			
	 VALLEY FORGE CONVENTION CENTER PARTNERS,

LLC

		
	BY:	 	 /s/ Brian A. Larson

	Name:	 	Brian A. Larson
	Title:	 	Executive Vice President and Secretary
	
	VALLEY FORGE COLONIAL, LLC
		
	BY:	 	 /s/ Brian A. Larson

	Name:	 	Brian A. Larson
	Title:	 	Executive Vice President and Secretary
	
	OGLE HAUS, LLC
		
	BY:	 	 /s/ Brian A. Larson

	Name:	 	Brian A. Larson
	Title:	 	Executive Vice President and Secretary
	
	AMERISTAR CASINO KANSAS CITY, LLC
		
	BY:	 	 /s/ Brian A. Larson

	Name:	 	Brian A. Larson
	Title:	 	Executive Vice President and Secretary
	
	AMERISTAR CASINO ST. CHARLES, LLC
		
	BY:	 	 /s/ Brian A. Larson

	Name:	 	Brian A. Larson
	Title:	 	Executive Vice President and Secretary

 
			
	BOYD TCIV, LLC
		
	BY:	 	 /s/ Brian A. Larson

	Name:	 	Brian A. Larson
	Title:	 	Executive Vice President and Secretary
	
	BELTERRA RESORT INDIANA LLC
		
	BY:	 	 /s/ Brian A. Larson

	Name:	 	Brian A. Larson
	Title:	 	Executive Vice President and Secretary

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

			
	BOFA SECURITIES, INC.
		
		 	Acting on behalf of itself
		 	and as the Representative of
		 	the several Initial Purchasers
		
	By:	 	 /s/ Anand Melvani

	Name:	 	Anand Melvani
	Title:	 	Managing Director

 SCHEDULE A 

GUARANTORS 
 Aliante Gaming, LLC, a Nevada
limited liability company 
 ALST Casino Holdco LLC, a Delaware limited liability company 

Belle of Orleans, L.L.C., a Louisiana limited liability company 

California Hotel and Casino, a Nevada corporation 
 California
Hotel Finance Corporation, a Nevada corporation 
 Coast Casinos, Inc., a Nevada corporation 

Coast Hotels and Casinos, Inc., a Nevada corporation 
 Boyd
Acquisition, LLC, a Delaware limited liability company 
 Boyd Acquisition I, LLC, a Delaware limited liability company 

Boyd Acquisition II, LLC, a Delaware limited liability company 

M.S.W., Inc., a Nevada corporation 
 Sam-Will, Inc., a Nevada corporation 

Par-A-Dice Gaming Corporation, an Illinois corporation 

Blue Chip Casino, LLC, an Indiana limited liability company 

Boyd Louisiana Racing, LLC, a Louisiana limited liability company 

Boyd Racing, L.L.C., a Louisiana limited liability company 
 Red
River Entertainment of Shreveport, L.L.C., a Louisiana limited liability company 
 Treasure Chest Casino, L.L.C., a Louisiana limited liability company

 Boyd Tunica, Inc., a Mississippi corporation 
 Boyd Biloxi,
LLC, a Mississippi limited liability company 
 Diamond Jo, LLC, a Delaware limited liability company 

Diamond Jo Worth, LLC, a Delaware limited liability company 

Kansas Star Casino, LLC, a Kansas limited liability company 

 Nevada Palace, LLC, a Nevada limited liability company 

Peninsula Gaming, LLC, a Delaware limited liability company 

The Cannery Hotel and Casino, LLC, a Nevada limited liability company 

The Old Evangeline Downs, L.L.C., a Louisiana limited liability company 

Valley Forge Convention Center Partners, LLC, a Pennsylvania limited liability company 

Valley Forge Colonial, LLC, a Pennsylvania limited liability company 

Boyd TCIV, LLC, a Nevada limited liability company 
 PNK (Ohio),
LLC, an Ohio limited liability company 
 PNK (Ohio) II, LLC, an Ohio limited liability company 

PNK (Ohio) III, LLC, an Ohio limited liability company 

Belterra Resort Indiana LLC, an Indiana limited liability company 

Ogle Haus, LLC, an Indiana limited liability company 
 Ameristar
Casino Kansas City, LLC, a Missouri limited liability company 
 Ameristar Casino St. Charles, LLC, a Missouri limited liability companyExhibit 10.1

 

 

 

[****] Certain information in this exhibit has been omitted because
it is both (i) not material and (ii) would likely cause competitive harm to the registrant if publicly disclosed.

 

 

 

SALES
AND PURCHASE AGREEMENT BETWEEN

BITMAINTECH
PTE. LTD.

(“Bitmain”)
AND

Riot
Blockchain, Inc (“Purchaser”)

 

 

 

 

 

 

    	  

    	 

    

 

	1.   Definitions
    and Interpretations	3
	2.   Sales
    of Product(s)	5
	3.   Prices
    and Terms of Payment	6
	4.   Shipping
    of Product(s)	6
	5.   Customs	7
	6.   Warranty	8
	7   Representations
    and Warranties	10
	8   Indemnification
    and Limitation of Liability	11
	9   Distribution	12
	10   Intellectual
    Property Rights	12
	11   Confidential
    Information and Disclosure	13
	12   Term
    and Termination of this Agreement	13
	13   Contact
    Information	14
	14   Compliance
    with Laws and Regulations	14
	15   Force
    Majeure	16
	16   Entire
    Agreement and Amendment	16
	17   Assignment	16
	18   Severability	16
	19   Personal
    Data	16
	20   Conflict
    with the Terms and Conditions	17
	21   Governing
    Law and Dispute Resolution	17
	22   Waiver	17
	23   Counterparts
    and Electronic Signatures	18

 

 

    	2  

    	 

    

 

This
agreement (this “Agreement”) is made on 2 December 2019 by and between Bitmaintech Pte. Ltd. (“Bitmain”)
(UEN: 201610324R), with its principal place of business at 8 Kallang Avenue, Aperia
Tower 1, #09-03/04, Singapore, 339509, and Riot Blockchain, Inc (the “Purchaser”)
with its principal place of business at 834-F South Perry Street, Castle Rock, CO 80104, USA.

 

Bitmain
and the Purchaser shall hereinafter collectively be referred to as the “Parties”, and individually as a “Party”.

 

Whereas:

 

		1.	Purchaser
                                         fully understands the market risks, the price-setting principles and the market fluctuations
                                         relating to the Products sold under this Agreement.

		2.	Purchaser
                                         has purchased Products through the website of Bitmain (i.e.,https://shop.bitmain.com/,
                                         similarly hereinafter), and is generally familiar with the purchase order processes of
                                         Bitmain’s website.

		3.	Based
                                         on the above consensus, the Purchaser is willing to purchase and Bitmain is willing to
                                         supply cryptocurrency mining hardware and other equipment in accordance with the terms
                                         and conditions of this Agreement.

 

The
Parties hereto agree as follows:

 

		1.	Definitions
                                         and Interpretations

The
following terms, as used herein, have the following meanings:

 

“Affiliate”
means, with respect to any Person, any other Person directly or indirectly Controlling, Controlled by,
or under common Control with such Person; “Person” means any individual, corporation, partnership, limited
partnership, proprietorship, association, limited liability company, firm, trust,
estate or other enterprise or entity; and “Control” means the power or authority,
whether exercised or not, to direct the business, management and policies of such Person, directly or indirectly, whether
through the ownership of voting securities, by Contract or otherwise, provided that such power or authority shall conclusively
be presumed to exist upon possession of beneficial ownership or power to direct the vote of more than fifty percent (50%) of the
votes entitled to be cast at a meeting of the members or shareholders of such Person or power to control the composition of a
majority of the board of directors of such Person. The terms “Controlled” and “Controlling” have meanings
correlative to the foregoing.

 

“Applicable
Law” means any treaty, law, decree, order, regulation, decision, statute, ordinance, rule, directive, code or other document
that has legal force under any system of law, including, without limitation, local law, law of any other state or part thereof
or international law, and which creates or purports to create any requirement or rule that may affect, restrict, prohibit or expressly
allow the terms of this Agreement or any activity contemplated or carried out under this Agreement.

 

    	3  

    	 

    

“Bank
Account” means the bank account information of Bitmain provided in Appendix A of this Agreement.

 

“Force
Majeure” means in respect of either Party, any event or occurrence whatsoever
beyond the reasonable control of that Party, which delays, prevents or hinders that
Party from performing any obligation imposed upon that Party under this Agreement, including to the extent such event or occurrence
shall delay, prevent or hinder such Party from performing such obligation, war (declared
or undeclared), terrorist activities, acts of sabotage, blockade, fire, lightning, acts of god, national strikes, riots, insurrections,
civil commotions, quarantine restrictions, epidemics, earthquakes, landslides, avalanches, floods, hurricanes, explosions and
regulatory and administrative or similar action or delays to take actions of any governmental authority.

 

“Insolvency
Event” in the context of the Purchaser means any of the following events:

		i)	a
                                         receiver, receiver and manager, judicial manager, official manager, trustee, administrator
                                         or similar official is appointed, or steps are taken for such appointment, over all or
                                         any part of the assets, equipment or undertaking of the Purchaser;

		ii)	if
                                         the Purchaser stops or suspends payments to its creditors generally, is unable to or
                                         admits its inability to pay its debts as they fall due, seeks to enter into any composition
                                         or other arrangement with its creditors, is declared or becomes bankrupt or insolvent
                                         or enters into liquidation;

		iii)	a
                                         petition is presented, a proceeding is commenced, an order is made or an effective resolution
                                         is passed or any other steps are taken by any person for the liquidation, winding up,
                                         insolvency, judicial management, administration, reorganisation, reconstruction, dissolution
                                         or bankruptcy of the Purchaser, otherwise than for the purpose of a bona fide scheme
                                         of solvent amalgamation or reconstruction; or

		iv)	if
                                         any event, process or circumstance analogous or having a substantially similar effect
                                         to any of the above, in any applicable jurisdiction, commences or exists.

 

“Intellectual
Property Rights” means any and all intellectual property rights, including but not limited to those concerning inventions,
patents, utility models, registered designs and models, engineering or production materials, drawings, trademarks, service marks,
domain names, applications for any of the foregoing (and the rights to apply for any of the foregoing), proprietary or business
sensitive information and/or technical know-how, copyright, authorship, whether registered or not, and any neighbor rights.

 

“Order”
means the Purchaser’s request to Bitmain for certain Product(s) in accordance with this Agreement.

 

“Order
Confirmation” means Bitmain’s acceptance of the Order.

 

“Product(s)”
means the merchandise that Bitmain will provide to the Purchaser in accordance with this Agreement.

 

“Total
Purchase Price” means the aggregate amount
payable by the Purchaser as set out in Appendix A of this Agreement.

 

 

    	4  

    	 

    

“Warranty
Period” means the period of time that the
Product(s) are covered by the warranty granted by Bitmain or its Affiliates in accordance with Clause 6 of this Agreement.

 

“Warranty
Start Date” means the date on which the Product(s) are delivered to the carrier. Interpretations:

		i)	Words
                                         importing
                                         the singular include the plural and vice versa where the context so requires.

		ii)	The
                                         headings in this Agreement are for convenience only and shall not be taken into consideration
                                         in the interpretation or construction of this Agreement.

		iii)	References
                                         to Clauses are references to Clauses of this Agreement.

		iv)	Unless
                                         specifically stated otherwise, all references to days shall mean calendar days.

		v)	Any
                                         reference to a code, law, statute, statutory
                                         provision, statutory instrument, order, regulation or other instrument of similar effect
                                         shall include any re-enactment or amendment thereof for the time being in force.

 

		2.	Sales
                                         of Product(s)

Bitmain
will provide the Product(s) set forth in Appendix A (attached hereto as part of this Agreement) to the Purchaser in accordance
with provisions of Clause 2, Clause 3, Clause 4, Clause 5 and Appendix A of this Agreement, and the Purchaser shall make payment
in accordance with the terms specified in this Agreement.

 

		2.1.	Both
                                         Parties agree that the Product(s) shall be sold in accordance with the following steps:

		(i)	The
                                         Purchaser shall place the Order through Bitmain’s
                                         website or through other methods accepted by Bitmain, and such Order shall constitute
                                         an irrevocable offer to purchase specific Product(s) from Bitmain.

		(ii)	After
                                         receiving the Order, Bitmain will send an
                                         order receipt confirmation email to the Purchaser.
                                         The Purchaser’s Order will be open and valid for Bitmain to issue an Order
                                         Confirmation for a period of twenty-four (24) hours after its placement, and prior to
                                         the expiration of such period, Bitmain will have the right to cancel the Order at its
                                         sole discretion.

		(iii)	The
                                         Purchaser’s Order shall be deemed accepted by Bitmain upon Bitmain’s issuance
                                         of the Order Confirmation and the Purchaser shall pay the Total
                                         Purchase Price in accordance with Appendix A of this Agreement.

		(iv)	Upon
                                         receipt of the Total Purchase Price, Bitmain
                                         will provide a payment receipt to the Purchaser.

		(v)	Bitmain
                                         will send a shipping confirmation to the Purchaser after it has delivered the Product(s)
                                         to the carrier.

 

		2.2.	Both
                                         Parties acknowledge and agree that the order receipt confirmation shall not constitute
                                         nor be construed as Bitmain’s acceptance of the Purchaser’s Order,
                                         but mere acknowledgement of the receipt of the Purchaser’s Order.

 

 

    	5  

    	 

    

 

		2.3.	Both
                                         Parties acknowledge and agree that in case of product unavailability, Bitmain shall have
                                         the right to cancel the Order after it has issued the order receipt confirmation without
                                         any penalty or liability.

 

		2.4.	The
                                         Purchaser acknowledges and confirms that the Order is irrevocable and cannot be cancelled
                                         by the Purchaser, and that the Product(s) ordered are neither returnable nor refundable.
                                         All sums paid by the Purchaser to Bitmain shall not be subject to any abatement, set-off,
                                         claim, counterclaim, adjustment, reduction, or defense for any reason except for non-shipment
                                         of the Products pursuant to Section 4.3. Payment of Total
                                         Purchase Price is not refundable, save as otherwise mutually agreed by the Parties
                                         or Bitmain’s non-shipment of the Products pursuant to Section 4.3.

 

		3.	Prices
                                         and Terms of Payment

		3.1	The
                                         Purchaser shall pay the Total Purchase Price
                                         in accordance with Appendix A of this Agreement.

 

		3.2	The
                                         Parties understand and agree that the applicable prices of the Product(s) are inclusive
                                         of applicable bank transaction fees, export duties, but are exclusive of any and all
                                         applicable import duties, taxes and governmental charges. The Purchaser shall pay or
                                         reimburse Bitmain for all taxes levied on or assessed against the amounts payable hereunder.
                                         If any payment is subject to withholding, the Purchaser shall pay such additional amounts
                                         as necessary, to ensure that Bitmain receives
                                         the full amount it would have received had payment not been subject to such withholding.

 

		4.	Shipping
                                         of Product(s)

		4.1	The
                                         Purchaser must indicate place of delivery, and
                                         Bitmain will ship the Product(s) to such designated place. If the Purchaser fails to
                                         provide Bitmain with the delivery place or the delivery place provided by the Purchaser
                                         is a false address or does not exist, Bitmain may issue the Purchaser a notice of self-pick-up
                                         (which shall specify the self- pick-up location) and ask the Purchaser to pick up the
                                         Products itself. The earliest date for self-pick-up mentioned in the above notice shall
                                         be deemed as the delivery date. Bitmain shall be deemed to have completed the delivery
                                         obligation under this Agreement when the Purchaser receives the above notice. The Purchaser
                                         shall pick up all the Products within five (5) working days after receiving the notice
                                         from Bitmain. Otherwise, Bitmain is entitled to charge the Purchaser the storage fee,
                                         warehousing charge and other fees according to the standard of USD 2/ unit / day.

 

 

    	6  

    	 

    

 

 

		4.2	Subject
                                         to the limitations stated in Appendix A, the terms of delivery of the Product(s) shall
                                         be CIP (carriage and insurance paid according to Incoterms 2010). Once the Product(s)
                                         have been delivered to the carrier and the full purchase price of the Products is adequately
                                         covered by insurance during international transport with the beneficiary of such insurance
                                         being the Purchaser, Bitmain shall have fulfilled its obligation to supply the Product(s)
                                         to the Purchaser, and the title and risk of loss or damage to the Product(s) shall pass
                                         to the Purchaser.

		4.3	All
                                         delivery dates in Appendix A are estimated, but not guaranteed. In the case that Purchaser
                                         has fulfilled its payment obligations in accordance with the terms and conditions of
                                         this Agreement and Bitmain fails to deliver the Products within the shipping period listed
                                         in Appendix A, the Purchaser is entitled to submit a written reminder to Bitmain. If
                                         Bitmain fails to deliver the Products within 5 days after receiving the written reminder
                                         from the Purchaser, the Purchaser is entitled to: (i) request to terminate this Agreement
                                         and require Bitmain to return the amounts paid by the Purchaser without setoff or adjustment
                                         (Bitmain shall not pay any interests in this respect), or (ii) continue to perform this
                                         Agreement and require Bitmain to deliver the Products.

 

		4.4	Bitmain
                                         shall not be responsible for any delivery delay caused by the Purchaser or any third
                                         party, including but not limited to the
                                         carrier, the customs, and the import brokers, nor shall it be liable for damages, whether
                                         direct, indirect, incidental, consequential, or otherwise, for any failure, delay or
                                         error in delivery of any Product(s) for any reason whatsoever.

 

		4.5	Subject
                                         to the Products being adequately covered by insurance during delivery of the Products
                                         to the Purchaser, Bitmain shall not be responsible and the Purchaser shall be fully and
                                         exclusively responsible for any loss of Product(s), personal injury,
                                         property damage, other damage or liability caused by the Product(s) or the transportation
                                         of the Product(s) either to the Purchaser or any third party,
                                         or theft of the Product(s) during transportation from Bitmain to the Purchaser.

 

		4.6	Bitmain
                                         has the right to discontinue the sale of the Product(s) and to make changes to its Product(s)
                                         at any time, without prior approval from or notice to the Purchaser.

 

		4.7	If
                                         the Product(s) is rejected and/or returned back to Bitmain because of any reason and
                                         regardless of the cause of such delivery failure, the Purchaser shall be solely and exclusively
                                         liable for and shall defend, fully indemnify and hold harmless Bitmain against any and
                                         all related expenses, fees, charges and costs incurred, arising out of or incidental
                                         to such rejection and/or return (the “Return Expense”). Furthermore,
                                         if the Purchaser would like to ask for Bitmain’s assistance in redelivering such
                                         Product(s) or assist in any other manner, and if Bitmain at its sole discretion decides
                                         to provide this assistance, then in addition to the Return Expense, the Purchaser shall
                                         also pay Bitmain an administrative fee in accordance with Bitmain’s then applicable
                                         internal policy.

 

		5.	Customs

		5.1	Bitmain
                                         shall obtain in due time and maintain throughout the term of this Agreement (if applicable),
                                         any and all approvals, permits, authorizations, licenses and clearances for the export
                                         of the Product(s) that are required to be obtained by Bitmain or the carrier under Applicable
                                         Laws.

 

    	7  

    	 

    

 

 

		5.2	The
                                         Purchaser shall obtain in due time and maintain throughout the term of this Agreement
                                         (if applicable), any and all approvals, permits, authorizations, licenses and clearances
                                         required for the import of the Product(s) to the country of delivery as indicated in
                                         the Shipping Information, that are required to be obtained by the Purchaser or the carrier
                                         under Applicable Laws, and shall be responsible for any and all additional fees, expenses
                                         and charges in relation to the import of the Product(s).

 

		6.	Warranty

		6.1	Bitmain
                                         warrants to the Purchaser that during the Warranty Period, each Product will conform
                                         to the applicable product requirements and specifications and perform and operate as
                                         intended and as set forth on Bitmain’s website for each Product. The Warranty
                                         Period shall start on the Warranty Start
                                         Date and end on the 180th day after the Warranty Start Date or 90 days after return shipment
                                         of a repaired Product covered by this warranty. During the Warranty
                                         Period, the Purchaser’s sole and exclusive remedy,
                                         and Bitmain’s entire liability, will be to repair or replace, at Bitmain’s
                                         option, the defective part/component of the Product(s) or the defective Product(s) at
                                         no charge to the Purchaser including, but not limited
                                         to, any applicable testing or shipping charges.

 

		6.2	The
                                         Parties acknowledge and agree that the warranty provided by Bitmain as stated in the
                                         preceding paragraph does not apply to the following items caused by the Purchaser:

		(i)	normal
                                         wear and tear;

		(ii)	damage
                                         resulting from accident, abuse, misuse, neglect, improper handling or improper installation;

		(iii)	damage
                                         or loss of the Product(s) caused by undue physical or electrical stress, including but
                                         not limited to moisture, corrosive environments, high voltage surges, extreme temperatures,
                                         shipping, or abnormal working conditions;

 

 

 

 

    	8  

    	 

    

 

 

 

		(iv)	damage
                                         or loss of the Product(s) caused by acts of nature including, but not limited to, floods,
                                         storms, fires, and earthquakes;

		(v)	damage
                                         caused by operator error, or non-compliance with instructions as set out in accompanying
                                         documentation;

		(vi)	alterations
                                         by persons other than Bitmain, associated partners or authorized service facilities;

		(vii)	Product(s),
                                         on which the original software has been replaced or modified by persons other than Bitmain,
                                         associated partners or authorized service facilities;

		(viii)	use
                                         of counterfeit products;

		(ix)	damage
                                         or loss of data due to interoperability with current and/or future versions of operating
                                         system, software and/or hardware;

		(x)	damage
                                         or loss of data caused by improper usage and behavior which is not recommended and/or
                                         permitted in the product documentation;

		(xi)	failure
                                         of the Product(s) caused by usage of products not supplied by Bitmain; and

		(xii)	hash
                                         boards or chips are burnt.

 

In
case the warranty is voided, Bitmain may, at its sole discretion, provide repair service to the Purchaser, and the Purchaser shall
bear all related expenses and costs.

 

		6.3	Notwithstanding
                                         anything to the contrary herein, the Purchaser acknowledges and agrees that the Product(s)
                                         provided by Bitmain do not guarantee any cryptocurrency mining time and, Bitmain shall
                                         not be liable for any cryptocurrency mining time loss or cryptocurrency mining revenue
                                         loss that are caused by downtime of any part/component of the Product(s). Bitmain does
                                         not warrant that the Product(s) will meet the Purchaser’s requirements or the Product(s)
                                         will be uninterrupted or error free. Except as provided in Clause 6.1 of this Agreement,
                                         Bitmain makes no warranties to the Purchaser with respect to the Product(s), and no warranties
                                         of any kind, whether written, oral, express, implied or statutory, including warranties
                                         of merchantability, fitness for a particular purpose or non-infringement or arising from
                                         course of dealing or usage in trade shall apply.

 

		6.4	In
                                         the event of any ambiguity or discrepancy between this Clause 6 of this Agreement and
                                         Bitmain’s After-sales Service Policy from time to time, it is intended that the
                                         After-sales Service Policy shall prevail and the Parties shall comply with and give effect
                                         to the After-sales Service Policy.

 

 

    	9  

    	 

    

 

 

		7	Representations
                                         and Warranties

The
Purchaser makes the following representations and warranties to Bitmain:

		7.1	It
                                         has the full power and authority to purchase the Products and carry on its businesses.

 

		7.2	The
                                         obligations expressed to be assumed by it under this Agreement are legal, valid, binding
                                         and enforceable obligations.

 

		7.3	It
                                         has the power to enter into, perform and deliver, and has taken all necessary action
                                         to authorize its entry into, performance and delivery of, this Agreement and the transactions
                                         contemplated by this Agreement.

 

		7.4	The
                                         entry into and performance by it of, and the transactions contemplated by,
                                         this Agreement do not and will not conflict with:

		(i)	any
                                         Applicable Law;

		(ii)	its
                                         constitutional documents; or

		(iii)	any
                                         agreement or instrument binding upon it or any of its assets.

 

		7.5	All
                                         authorizations required or desirable:

		(i)	to
                                         enable it lawfully to enter into, exercise its rights under and comply with its obligations
                                         under this Agreement;

		(ii)	to
                                         ensure that those obligations are legal, valid, binding and enforceable; and

		(iii)	to
                                         make this Agreement admissible in evidence in its jurisdiction of incorporation,have
                                         been or will have been by the time, obtained or effected and are, or will be by the appropriate
                                         time, in full force and effect.

 

		7.6	It
                                         is not aware of any circumstances which are likely to lead to:

		(i)	any
                                         authorization obtained or effected not remaining in full force and effect;

		(ii)	any
                                         authorization not being obtained, renewed or effected when required or desirable; or
                                         any authorization being subject to a condition or requirement which it does not reasonably
                                         expect to satisfy or the compliance with which has or could reasonably be expected to
                                         have a material adverse effect.

 

		7.7	It
                                         is not the target of economic sanctions administered by the Office of Foreign Assets
                                         Control of the U.S. Department of the Treasury,
                                         the U.S. Department of State, the United Nations Security Council, the European
                                         Union, Her Majesty’s Treasury or Singapore (“Sanctions”), including
                                         by being listed on the Specially Designated Nationals and Blocked Persons (SDN) List
                                         maintained by OFAC or any other Sanctions
                                         list maintained by one of the foregoing governmental authorities, directly or indirectly
                                         owned or controlled by one or more SDNs or other Persons included on any other Sanctions
                                         list, or located, organized or resident in a country or territory that is the target
                                         of Sanctions, and (b) the purchase of the Product(s) will not violate any Sanctions or
                                         import and export control related laws and regulations.

 

 

    	10  

    	 

    

 

 

		7.8	All
                                         information supplied by the Purchaser is and shall be true and correct, and the information
                                         does not contain and will not contain any statement that is false or misleading.

 

		8	Indemnification
                                         and Limitation of Liability

		8.1	Each
                                         party shall, during the term of this Agreement and at any time thereafter, indemnify
                                         and save each other harmless from and against any and all damages, suits, claims, judgments,
                                         liabilities, losses, fees, costs or expenses of any kind, including legal fees, whatsoever
                                         arising out of or incidental to the Products pursuant to this Agreement, including but
                                         not limited, to any Product(s) infringing on Intellectual Property Rights of a third
                                         party.

 

		8.2	Notwithstanding
                                         anything to the contrary herein, neither party shall under no circumstances, be liable
                                         to each other for any consequential loss, or loss of goodwill, business, anticipated
                                         profits, revenue, contract, or business opportunity arising out of or in connection with
                                         this Agreement, and each party hereby waives
                                         any claim it may at any time have against the other in respect of any such damages. The
                                         foregoing limitation of liability shall apply whether in an action at law,
                                         including but not limited to contract, strict liability, negligence, willful misconduct
                                         or other tortious action, or an action in equity.

 

		8.3	Each
                                         Parties’ cumulative aggregate liability pursuant to this Agreement, whether arising
                                         from tort, breach of contract or any other cause of action shall be limited to and not
                                         exceed the amount of one hundred percent (100%) of the Total Purchase Price actually
                                         received by Bitmain from the Purchaser and paid by the Purchaser to Bitmain for the Product(s).

 

		8.4	The
                                         Product(s) are not designed, manufactured or intended for use in hazardous or critical
                                         environments or in activities requiring emergency or fail-safe operation, such as the
                                         operation of nuclear facilities, aircraft navigation or communication systems or in any
                                         other applications or activities in which failure of the Product(s) may pose the risk
                                         of environmental harm or physical injury or death to humans. Bitmain specifically disclaims
                                         any express or implied warranty of fitness for any of the above described application
                                         and any such use shall be at the Purchaser’s sole risk.

 

		8.5	The
                                         above limitations and exclusions shall apply (1) notwithstanding failure of essential
                                         purpose of any exclusive or limited remedy; and (2) whether or not such party has been
                                         advised of the possibility of such damages. This Clause allocates the risks under this
                                         Agreement and the pricing reflects this allocation of risk and the above limitations.

 

 

    	11  

    	 

    

 

 

		9	Distribution

		9.1	This
                                         Agreement does not constitute a distributor agreement between Bitmain and the Purchaser.
                                         Therefore, the Purchaser is not an authorized distributor of Bitmain.

 

		9.2	The
                                         Purchaser shall in no event claim or imply to a third party that it is an authorized
                                         distributor of Bitmain or Bitmain (Antminer) or any similar terms, or perform any act
                                         that will cause it to be construed as an authorized distributor of Bitmain or Bitmain
                                         (Antminer). As between the Purchaser and Bitmain, the Purchaser shall be exclusively
                                         and fully responsible for complying with the Applicable Laws regarding repackaging the
                                         Product(s) for the Purchaser’s redistribution needs, and shall be solely liable
                                         for any and all liabilities or costs directly incurred or incidental to such redistribution.

 

		10	Intellectual
                                         Property Rights

		10.1	The
                                         Parties agree that the Intellectual Property Rights in any way contained in the Product(s),
                                         made, conceived or developed by Bitmain and/or its Affiliates for the Product(s) under
                                         this Agreement and/or, achieved, derived from, related to, connected with the provision
                                         of the Product(s) by Bitmain and/or acquired by Bitmain from any other person in performance
                                         of this Agreement shall be the exclusive property of Bitmain and/or its Affiliates.

 

		10.2	Notwithstanding
                                         anything to the contrary herein, all Intellectual Property Rights in the Product(s) shall
                                         remain the exclusive property of Bitmain and/or its licensors. Except for licenses explicitly
                                         identified in Bitmain’s shipping confirmation or in this Clause 10.2, no rights
                                         or licenses are expressly granted, or implied, whether by estoppel or otherwise, in respect
                                         of any Intellectual Property Rights of Bitmain and/or its Affiliates or any Intellectual
                                         Property residing in the Product(s) provided by Bitmain to the Purchaser, including in
                                         any documentation or any data furnished by Bitmain. Bitmain grants the Purchaser a non-exclusive,
                                         non-transferrable, royalty- free and irrevocable license of Bitmain and/or its Affiliates’
                                         Intellectual Property Rights to solely use the Product(s) delivered by Bitmain to the
                                         Purchaser for their ordinary function, and subject to the Clauses set forth herein. The
                                         Purchaser shall in no event violate the Intellectual Property Rights of Bitmain and/or
                                         its licensors.

 

		10.3	If
                                         applicable, payment by the Purchaser of non-recurring charges to Bitmain for any special
                                         designs, or engineering or production materials required for Bitmain’s performance
                                         of Orders for customized Product(s), shall not be construed as payment for the assignment
                                         from Bitmain to the Purchaser of title to the design or special materials. Bitmain shall
                                         be the sole owner of such special designs, engineering or production materials.

 

 

    	12  

    	 

    

 

 

		11	Confidential
                                         Information and Disclosure

 

		11.1	All
                                         information concerning this Agreement and matters pertaining to or derived from the provision
                                         of Product(s) pursuant to this Agreement between the Parties, whether in oral or written
                                         form, or in the form of drawings, computer programs or other, as well as all data derived
                                         therefrom (“Confidential Information”), shall be deemed to be confidential
                                         and, as such, may not be divulged to any unauthorized person. The Parties undertake and
                                         agree to take all reasonable and practicable steps to ensure and protect the confidentiality
                                         of the Confidential Information which cannot be passed, sold, traded, published or disclosed
                                         to any unauthorized person.

		11.2	Notwithstanding
                                         Section 11.1, Bitmain acknowledges and agrees that Purchaser is a U.S. publicly traded
                                         company and may be required to disclose this Agreement and its related terms, in order
                                         to comply with applicable securities laws, including its disclosure obligations under
                                         the U.S. Securities Exchange Act of 1934, as amended.

 

		12	Term
                                         and
                                         Termination of this Agreement

		12.1	This
                                         Agreement will be effective upon Bitmain’s issuance of the shipping confirmation
                                         to the Purchaser, provided that if there is more than one shipping confirmation, this
                                         Agreement will be effective to the Products contained in each shipping confirmation upon
                                         Bitmain’s issuance of the respective shipping confirmation to the Purchaser.

 

		12.2	Bitmain
                                         shall be entitled to terminate this Agreement with immediate effect upon written notice
                                         to the Purchaser if:

		(i)	the
                                         Purchaser fails to comply in any material respect of this Agreement, and where that failure
                                         is capable of being remedied, fails to remedy it within thirty (30) days of being required
                                         by Bitmain to do so;

		(ii)	it
                                         is or becomes unlawful for the Purchaser to perform or comply with any of its material
                                         obligations under this Agreement or all or a material part of the obligations of the
                                         Purchaser under this Agreement are not or cease to be valid, binding and enforceable;
                                         or

		(iii)	an
                                         Insolvency Event occurs in respect of the Purchaser.

 

		12.3	The
                                         Purchaser shall be entitled to terminate this Agreement with immediate effect upon written
                                         notice to Bitmain if Bitmain fails to deliver the Product(s) to the carrier in accordance
                                         with the delivery dates indicated in the shipping confirmation, and fails to remedy it
                                         within the time period pursuant to Section 4.3 of being required by the Purchaser to
                                         do so.

 

 

    	13  

    	 

    

 

 

		12.4	This
                                         Agreement shall also be automatically terminated between the Parties if the Order is
                                         cancelled because of any reason stated in this Agreement.

 

		12.5	Termination
                                         of this Agreement shall be without prejudice to the rights and liabilities of the Parties
                                         accrued prior to or as a result of such termination, including those related to antecedent
                                         breaches. Termination of this Agreement for any cause or otherwise shall not release
                                         a Party from any liability which at the time of termination has already accrued to the
                                         other Party or which thereafter may accrue in respect of any act or omission prior to
                                         such termination. The rights and obligations of the Parties under Clause 1 (Definitions
                                         and Interpretations), Clause 10 (Intellectual Property Rights), Clause 11
                                         (Confidential Information and Disclosure), Clause 12 (Term
                                         and Termination of this Agreement), Clause 13 (Contact Information), Clause 14
                                         (Compliance with Laws and Regulations) and Clause 21 (Governing Law and Dispute Resolution)
                                         shall survive the termination of this Agreement.

 

		13	Contact
                                         Information

All
communications in relation to this Agreement shall be made to the following contacts:

Purchaser’s
business contact:

 

Name:
Jeff McGonegal Phone: +1 720-370-2653

Email:
jmcgonegal@riotblockchain.com

 

Bitmain’s
business contact:

 

Name:
Peng LI

 

Phone:
[****]

 

Email:
[*****]

 

		14	Compliance
                                         with Laws and Regulations

		14.1	The
                                         Purchaser undertakes that it will fully comply with all Applicable Laws in relation to
                                         export and import control and Sanctions and shall not take any action that would cause
                                         Bitmain or any of its Affiliates to be in violation of any export and import control
                                         laws or Sanctions. The Purchaser shall also be fully and exclusively liable for and shall
                                         defend, fully indemnify and hold harmless Bitmain and/or its Affiliates from and against
                                         any and all claims, demands, actions, costs or proceedings brought or instituted against
                                         Bitmain and/or its Affiliates arising out of or in connection with any breach by the
                                         Purchaser or the carrier of any Applicable Laws in relation to export and import control
                                         or Sanction.

 

    	14  

    	 

    

 

 

		14.2	The
                                         Purchaser acknowledges and agrees that the Product(s) in this Agreement are subject to
                                         the export control laws and regulations of all related countries, including but not limited
                                         to the Export Administration Regulations (“EAR”) of the United States. Without
                                         limiting the foregoing, the Purchaser shall not, without receiving the proper licenses
                                         or license exceptions from all related governmental authorities, including but not limited
                                         to the U.S. Bureau of Industry and Security, distribute, re- distribute, export, re-export,
                                         or transfer any Product(s) subject to this Agreement either directly or indirectly, to
                                         any national of any country identified in Country Groups D:1 or E:1 as defined in the
                                         EARs. In addition, the Product(s) under this Agreement may not be exported, re-exported,
                                         or transferred to (a) any person or entity listed on the “Entity List”, “Denied
                                         Persons List” or the SDN List as such lists are maintained by the U.S. Government,
                                         or (b) an end-user engaged in activities related to weapons of mass destruction. Such
                                         activities include but are not necessarily limited to activities related to: (1) the
                                         design, development, production, or use of nuclear materials, nuclear facilities, or
                                         nuclear weapons; (2) the design, development, production, or use of missiles or support
                                         of missiles projects; and (3) the design, development, production, or use of chemical
                                         or biological weapons. The Purchaser further agrees that it will not do any of the foregoing
                                         in violation of any restriction, law, or
                                         regulation of the European Union or an individual EU member state that imposes on an
                                         exporter a burden equivalent to or greater than that imposed by the

U.S.
Bureau of Industry and Security.

 

		14.3	The
                                         Purchaser undertakes that it will not take any action under this Agreement or
                                         use the Product(s) in a way that will be a breach of any anti-money laundering
                                         laws, any anti-corruption laws, and/or any counter-terrorist financing laws.

 

		14.4	The
                                         Purchaser warrants that the Product(s) have been purchased with funds that are from legitimate
                                         sources and such funds do not constitute proceeds of criminal conduct, or realizable
                                         property, or proceeds of terrorism financing
                                         or property of terrorist, within the meaning given in the Corruption, Drug Trafficking
                                         and Other Serious Crimes (Confiscation of Benefits) Act (Chapter 65A) and the Terrorism
                                         (Suppression of Financing) Act (Chapter 325), respectively. The Purchaser understands
                                         that if any Person resident in Singapore knows or suspects or has reasonable grounds
                                         for knowing or suspecting that another Person is engaged in criminal conduct or is involved
                                         with terrorism or terrorist property and the information for that knowledge or suspicion
                                         came to their attention in the course of business in the regulated sector, or other trade,
                                         profession, business or employment, the Person will be required to report such knowledge
                                         or suspicion to the Suspicious Transaction Reporting Office, Commercial Affairs Department
                                         of the Singapore Police Force. The Purchaser acknowledges that such a report shall not
                                         be treated as breach of confidence or violation of any restriction upon the disclosure
                                         of information imposed by any Applicable Law, contractually
                                         or otherwise.

 

    	15  

    	 

    

 

 

		15	Force
                                         Majeure

		15.1	To
                                         the
                                         extent that a Party is fully or partially delayed, prevented or hindered by an event
                                         of Force Majeure from performing any obligation under this Agreement (other than an obligation
                                         to make payment), subject to the exercise of reasonable diligence by the affected Party,
                                         the failure to perform shall be excused by the occurrence of such event of Force
                                         Majeure. A Party claiming that its performance is excused by an event of Force Majeure
                                         shall, promptly after the occurrence of such event of Force Majeure, notify the other
                                         Party of the nature, date of inception and expected duration of such event of Force Majeure
                                         and the extent to which the Party expects that the event will delay,
                                         prevent or hinder the Party from performing its obligations under this Agreement.
                                         The notifying Party shall thereafter use its best effort to eliminate such event of Force
                                         Majeure and mitigate its effects.

 

		15.2	The
                                         affected Party shall use reasonable diligence to remove the event of Force Majeure, and
                                         shall keep the other Party informed of all significant developments.

 

		16	Entire
                                         Agreement and Amendment

This
Agreement, constitutes the entire agreement of the Parties hereto and can only be amended with the written consent of both Parties
or otherwise as mutually agreed by both Parties.

 

		17	Assignment

Bitmain
may freely assign this Agreement in whole or in part to its Affiliates or to any third party.
The Purchaser may not assign this Agreement in whole or in part without Bitmain’s prior written consent.

 

		18	Severability

To
the extent possible, if any provision of this
Agreement is held to be illegal, invalid or unenforceable in whole or in part by a court, the provision shall apply with whatever
deletion or modification is necessary so that such provision is legal, valid and enforceable and gives effect to the commercial
intention of the Parties. The remaining provisions of this Agreement shall not be affected and shall remain in full force and
effect.

 

		19	Personal
                                         Data

 

Depending
on the nature of the Purchaser’s interaction with Bitmain, some examples of personal data which Bitmain may collect from
the Purchaser include the Purchaser’s name and identification information, contact information such as the Purchaser’s
address, email address and telephone number, nationality, gender, date of birth, and financial information such as credit card
numbers, debit card numbers and bank account information.

 

    	16  

    	 

    

 

 

Bitmain
generally does not collect the Purchaser’s personal data unless (a) it is provided to Bitmain voluntarily by the Purchaser
directly or via a third party who has been duly authorized by the Purchaser to disclose the Purchaser’s personal data to
Bitmain (the Purchaser’s “authorized representative”) after (i) the Purchaser (or the Purchaser’s authorized
representative) has been notified of the purposes for which the data is collected, and (ii) the Purchaser (or the Purchaser’s
authorized representative) has provided written consent to the collection and usage of the Purchaser’s personal data for
those purposes, or

(b)
collection and use of personal data without consent is permitted or required by related laws. Bitmain shall seek the Purchaser’s
consent before collecting any additional personal data and before using the Purchaser’s personal data for a purpose which
has not been notified to the Purchaser (except where permitted or authorized by law).

 

		20	Conflict
                                         with the Terms and Conditions

In
the event of any ambiguity or discrepancy between the Clauses of this Agreement and the Terms
and Conditions from time to time, it is intended that the Clauses of this Agreement shall prevail and the Parties shall
comply with and give effect to this Agreement.

 

		21	Governing
                                         Law and Dispute Resolution

		21.1	This
                                         Agreement shall be solely governed by and construed in accordance with the laws of Singapore.
                                         The Parties agree that the United Nations Convention on Contracts for the International
                                         Sale of Goods does not apply to this Agreement. 

 

		21.2	Any
                                         dispute, controversy, difference or claim arising out of or relating to this Agreement,
                                         including the existence, validity, interpretation, performance, breach or termination
                                         hereof or any dispute regarding non-contractual obligations arising out of or relating
                                         to this Agreement shall be referred to and finally resolved by arbitration administered
                                         by the Singapore International Arbitration Centre (SIAC) under the SIAC Arbitration Rules
                                         in force when the notice of arbitration is submitted. The law of this arbitration clause
                                         shall be Singapore law. The seat of arbitration
                                         shall be Singapore. The arbitration proceedings shall be conducted in English. The number
                                         of arbitrators shall be three unless otherwise subsequently agreed in writing by the
                                         Parties.

 

		22	Waiver

Failure
by either Party to enforce at any time any provision of this Agreement, or to exercise any election of options provided herein
shall not constitute a waiver of such provision or option, nor affect the validity of this Agreement or any part hereof, or the
right of the waiving Party to thereafter enforce each and every such provision or option.

 

    	17  

    	 

    

 

 

		23	Counterparts
                                         and Electronic Signatures

This
Agreement may be executed in one or more counterparts, each of which will be deemed to be an original copy of this Agreement,
and all of which, when taken together, will be deemed to constitute one and the same agreement. The email or other electronically
delivered signatures of the Parties shall be deemed to constitute original signatures, or electronic copies hereof shall be deemed
to constitute duplicate originals.

 

(The
rest part of the page is intentionally left in blank)

 

 

 

 

    	18  

    	 

    

Signed
for and on behalf of Bitmain

 

	 	Bitmaintech Pte. Ltd.
	 	 
	 	Signature	/s/
    Jihan Wu
	 	Title  
	Co-founder

 

 

Signed
for and on behalf of the Purchaser

	 	The Purchaser
	 	 
	 	Signature By 	/s/
    Jeff McGonegal
	 	

        Title    
	C.E.O.

 

 

    	19  

    	 

    

APPENDIX
A

 

		1.	Per
                                         the Purchaser’s request, Bitmain will provide the following Product(s) upon full
                                         payment in accordance with the terms specified hereunder:

 

	Description of Product(s)	Price
	Unit price	Units	Total
	 	 	 	 
	 	 	 	 
	 	 	 	 
	
         

        Antminer S17 pro****
	
         

        US$ 1,564.56
	
         

        3,000
	
         

        US$ 4,693,690.00

	First Carrier:  Estimated Shipping cost to USA via Aircargo	US$ 140,604.75
	TOTAL PURCHASE PRICE:US$  4,369,233.75
	Estimated Shipping Time (Delivery Date): before 11 Dec 2019
	 

**** Certain product specifications,
including specific model variant numbers and the corresponding number of such model variants of the Antminer S17 Pro digital currency
miners purchased by Riot under this Agreement have been omitted from this table to protect Riot from the competitive harm which
would occur if such specific information was disclosed to the public.

 

		2.	Where
                                         the actual Products provided by Bitmain are not in consistence with the description listed
                                         in Article 1 of Appendix 1, provided that all the following three requirements are met,
                                         the unit price and/or quantity of the Products can be adjusted by Bitmain based on the
                                         actual type of the Products before delivery. The
                                         types, quantity and unit price of the actual delivered Products shall be subject to the
                                         statement issued by Bitmain. the Purchaser shall not refuse to accept the Products on
                                         the grounds that the types, quantity and/or unit price of the actual delivered Products
                                         are inconsistent with Article 1 of Appendix 1:

		(1)	The
                                         total hashrate of the Products actually delivered by Bitmain to the Purchaser shall not
                                         be less than the total hashrate as stipulated in Article 2 of Appendix A;

		(2)	The
                                         Products actually delivered by Bitmain to the Purchaser are S17 pro series Products.

 
 

    	20  

    	 

    

		(3)	The
                                         total price of the Products actually delivered by Bitmain to the Purchaser shall not
                                         exceed the Total Purchase Price of the Products
                                         as stipulated in Article 1 of Appendix A.

 

		3.	Bitmain’s
                                         BANK ACCOUNT info:

 

Account Name: [****]

ACCOUNT NO: [****]

BANK: [****]

CORRESPONDING BANK: [****]

CORRESPONDING BANK SWIFT:
[****]

SWIFT CODE: [****]

BANK ADDRESS: [****]

 

		4.	The
                                         payment shall be arranged by the Purchaser as follows: one hundred percent (100%) of
                                         the Total Purchase Price of the Product(s)
                                         as listed above shall be paid as non-refundable down payment (unless otherwise explicitly
                                         specified in this Agreement)

within
[3] working days upon the placement of the Order by the Purchaser, otherwise the Order will be cancelled and Bitmain shall
not be required to review and/or to confirm the Order by issuing an Order Confirmation.
Payments shall be paid in United States Dollars (USD) by wire transfer to Bitmain’s Bank Account.

 

		5.	Without
                                         prejudice to the above, the unit price and the Total
                                         Purchase Price of the Product(s) and any amount paid by the Purchaser shall be
                                         all denominated in USD. Where the Parties agree that the payments shall be made in cryptocurrencies,
                                         the exchange rate between the USD and the cryptocurrency selected shall be determined
                                         and calculated as follows: (1) in the event that the Purchaser pays for any order placed
                                         on Bitmain’s official Website (the
                                         “Website”) which is valid and
                                         has not been fully paid yet, the exchange rate between United States Dollars and the
                                         cryptocurrency fixed in such placed order shall apply,
                                         or (2) in any other case, the real time exchange rate between the USD and the
                                         cryptocurrency displayed on the Website
                                         upon payment shall apply. The exchange rate
                                         between the USD and the cryptocurrency shall be fixed according to this provision. In
                                         any circumstance, the Purchaser shall not ask for any refund due to the change
                                         of exchange rate.

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