Document:

EX-4.12

 Exhibit 4.12 

THIS WARRANT AND THE SECURITIES ISSUABLE UPON EXERCISE HEREUNDER HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 AS AMENDED (the “1933
ACT”), OR ANY STATE SECURITIES LAWS. THEY MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED, OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT RELATED THERETO OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO YOU THAT SUCH
REGISTRATION IS NOT REQUIRED UNDER THE 1933 ACT, OR ANY APPLICABLE STATE SECURITIES LAWS. 
 PLAIN ENGLISH WARRANT AGREEMENT 

This is a PLAIN ENGLISH WARRANT AGREEMENT dated              by and between GROVE
COLLABORATIVE, INC., a Delaware corporation, and                     , a
                    . 
 The words
“We”, “Us”, or “Our” refer to the warrant holder, which is                     . The words “You” or
“Your” refers to the issuer, which is GROVE COLLABORATIVE, INC., and not to any individual. The words “the Parties” refers to both
                     and GROVE COLLABORATIVE, INC. This Plain English Warrant Agreement may be referred to as the “Warrant
Agreement”. 
 The Parties have entered into an Amended and Restated Plain English Growth Capital Loan and Security Agreement dated as of
                     (the “Loan Agreement”). 

In consideration of such Loan Agreement the Parties agree to the following mutual agreements and conditions set forth below: 

 

							
	WARRANT INFORMATION
			
	 Effective Date
	  	 Warrant Number
	  	 Loan Facility Number

				
	 Warrant Coverage

Part 1: Tranche A: $        (    % of
$        ); Tranche B: $        (    % of $        ), each as provided in Section 1 below.

 
 Part 2:
$        (    % of $        ), upon the availability of the Part 4 Commitment Amount and as
provided in Section 1 below.
	  	 Number of Shares

Part 1: Tranche A:    ;

Tranche B: 
  

Part 2:
  

The Number of Shares for each of Part 1 and Part 2 is subject to adjustment as set forth in Sections 1 and 4 of this Warrant Agreement.
	  	 Price Per Share

Parts 1 and 2: $        , subject to adjustment as set forth in Sections 1 and 4 of this Warrant
Agreement.
	  	 Type of Stock

Parts 1 and 2: Series D Preferred Stock, subject to adjustment as set forth in Sections 1 and 4 of this Warrant Agreement.

  
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	OUR CONTACT INFORMATION
			
	 Name
	  	 Address For Notices
	  	 Contact Person

			
	 	  	 	  	 
	YOUR CONTACT INFORMATION
			
	 Customer Name
	  	 Address For Notices
	  	 Contact Person

			
	Grove Collaborative, Inc.	  	 1301 Sansome Street

San Francisco, CA 94111
	  	 Phil Moon, VP Business

Operations
 Tel: 800-231-8527
 Fax: n/a 

email: pmoon@grove.co

  
  

 

	1.	 WHAT YOU AGREE TO GRANT US 

 
 Part 1: 

 

	 	•	 	 Tranche A. You grant to Us and We are entitled, upon the terms and subject to the conditions set forth in
this Warrant Agreement, to purchase from You, at a price per share equal to the Exercise Price, that number of fully paid and non-assessable shares of Your Warrant Stock equal to
             Dollars ($    ), divided by the Exercise Price. 

  

	 	•	 	 Tranche B. Upon the availability of the Part 3 Tranche B Commitment Amount under the Loan Agreement, You
grant to Us and We are entitled, upon the terms and subject to the conditions set forth in this Warrant Agreement, to purchase from You, at a price per share equal to the Exercise Price, that number of fully paid and
non-assessable shares of Your Warrant Stock equal to             Dollars ($    ), divided by the Exercise Price.

 Part 2: Upon the availability of the Part 4 Commitment Amount under the Loan Agreement, You grant to Us and We are entitled,
upon the terms and subject to the conditions set forth in this Warrant Agreement, to purchase from You, at a price per share equal to the Exercise Price, an additional number of fully paid and non-assessable
shares of Your Warrant Stock equal to              Dollars ($    ), divided by the Exercise Price. 

The number of shares of Warrant Stock and the Exercise Price of such Warrant Stock are subject to adjustment as provided in Section 4 hereof. 

For purposes of this Warrant Agreement, the following capitalized terms have the meanings given below: 

“Exercise Price” means (a) if the Next Round financing closes on or before
             the lower of (i) $             and (ii) the lowest per share price for which Your preferred stock
is sold in the Next Round or (b) if the Next Round financing does not close on or before             , then
$            . 

  
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 “Next Round” means the next bona fide round of equity financing occurring
subsequent to the Effective Date in which You issue and sell shares of Your preferred stock for aggregate gross cash proceeds of at least $5,000,000 (excluding any amounts received upon conversion or cancellation of indebtedness). 

“Warrant Stock” means (a) the class and series of Your preferred stock issued in the Next Round, if the lowest per share price
for which such preferred stock is sold in the Next Round is less than $             and the Next Round is consummated on or before
            , or (b) in all other cases, Your Series D Preferred Stock. For avoidance of doubt, if this Warrant Agreement is exercised prior to the Next Round then this Warrant
Agreement shall be exercisable for Your Series D Preferred Stock. 
 The Parties agree that this Warrant Agreement to purchase the Warrant Stock has a fair
market value equal to $100 and that $100 of the issue price of the investment will be allocable to the Warrant Agreement and the balance shall be allocable to the Loan Agreement for income tax purposes and the original issue discount on the Loan
Agreement shall be considered to be zero. 
  
  

	2.	 WHEN ARE WE ENTITLED TO PURCHASE YOUR WARRANT STOCK. 

 
 The term of this Warrant Agreement and Our right to
purchase Warrant Stock will begin on the Effective Date and shall be available for the greater of (i)              (    ) years through and including
            , and (ii)              years after the closing of Your initial public offering. 

Notwithstanding the foregoing, Our right to purchase the Warrant Stock shall be automatically and fully exercised via the net issuance method described below
(without surrender of the Warrant Agreement) upon the occurrence of a Merger Event, as defined below, with a Person that is not one of Your affiliates, in which Your common stock is exchanged for cash and/or stock of a class that is listed on a
recognized national exchange, provided that, upon consummation of the Merger Event, the consideration payable to Us pursuant to such exercise and on account of the Warrant Stock consists of (i) cash or (ii) stock of a class that is listed
on a recognized national exchange and the total per share value of such stock consideration is equal to or greater than two (2) times the aggregate Exercise Price (as adjusted). Further notwithstanding anything to the contrary contained herein,
if the per share value of the consideration payable to holders of the Warrant Stock upon the consummation of a Merger Event in cash is less than the Exercise Price (as adjusted) and We have not elected to exercise this Warrant Agreement, then this
Warrant Agreement shall automatically terminate as of in connection with the consummation of such Merger Event and shall be of no further force and effect (unless exercised by Us in connection with such Merger Event). No less than ten (10) days
prior to any Merger Event, You shall provide Us with written notice of the proposed Merger Event together with a copy of the executed merger agreement, or other definitive documentation (and all schedules and exhibits thereto) and information
concerning Your expected capitalization immediately prior to the Merger Event. Upon consummation of the Merger Event, You shall promptly provide Us with (a) a copy of any modifications or amendments to the executed merger agreement,
(b) any other documents in connection therewith, (c) updated information, if any, concerning Your capitalization immediately prior to the Merger Event, and, (d) upon request, by Us any other information reasonably necessary to an
informed evaluation of Our rights under this Agreement. 

  
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	3.	 HOW WE MAY PURCHASE YOUR WARRANT STOCK. 

 
 We may exercise Our purchase rights, in whole or in
part, at any time, or from time to time, prior to the expiration of the term of this Warrant Agreement, by giving You, except as provided in the last paragraph of this Section 3, a completed and executed Notice of Exercise in the form attached
as Exhibit I. Promptly upon receipt of the Notice of Exercise and in any event no later than twenty-one (21) days after you have received Our Notice of Exercise and payment of the aggregate Exercise Price
for the shares purchased, You will issue to Us a certificate (in electronic format, if You are issuing certificates electronically) for the number of shares of Warrant Stock that We have purchased and You will execute the Acknowledgment of Exercise
in the form attached hereto as Exhibit II indicating the number of shares which will be available to Us for future purchases, if any. 
 We may pay for the
Warrant Stock by either (i) cash or check, or (ii) by the net issuance method as determined below. If We elect the net issuance method, You will issue Warrant Stock using the following formula: 

 

			
		  	 X = Y(A-B)

A

	 Where: X =

Y=
 A= B=
	  	 the number of shares of Warrant Stock to be issued to Us.

the number of shares of Warrant Stock We request to be exercised under

this Warrant Agreement.

the fair market value of one share of Warrant Stock (as of the date of such calculation).

the Exercise Price (as of the date of such calculation).

 For purposes of the above calculation and the below paragraphs, current fair market value of Warrant Stock shall mean with
respect to each share of Warrant Stock: 
 If the exercise is in connection with the initial public offering of Your Common Stock, and if Your
registration statement relating to such public offering has been declared effective by the Securities and Exchange Commission, then the fair market value per share shall be the product of (x) the initial “Price to Public” specified in
the final prospectus of the offering and (y) the number of shares of common stock into which each share of Warrant Stock is convertible at the time of such exercise. 

If this Warrant Agreement is exercised after, and not in connection with Your initial public offering, and: 

 

	 	•	 	 if Your common stock is traded on a securities exchange, the fair market value of the Warrant Stock shall be the
product of (x) the average of the closing prices of Your common stock over a five (5) day period ending three (3) days before the day the current fair market value of the Warrant Stock is being determined and (y) the number of
shares of Your common stock into which each share of Warrant Stock is convertible at the time of such exercise; or 

  
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	 	•	 	 if Your common stock is actively traded
over-the-counter, the fair market value of the Warrant Stock shall be the product of (x) the average of the closing bid and asked prices of Your common stock over
the five (5) day period ending three (3) days before the day the current fair market value of the Warrant Stock is being determined and (y) the number of shares of Your common stock into which each share of Warrant Stock is
convertible at the time of such exercise. 

 If this Warrant Agreement is exercised prior to or after Your initial public offering,
and: 
  

	 	•	 	 Your common stock is not listed on any securities exchange or the over-the-counter market, the current fair market value of one share of Warrant Stock shall be the product of (x) the fair market value of a share of Your common stock (the highest price per share which
You could obtain from a willing buyer (not a current employee or director) for shares of common stock sold, from authorized but unissued shares), as determined in good faith by Your Board of Directors, and (y) the number of shares of common
stock into which each share of Warrant Stock is convertible at the time of such exercise. Notwithstanding the foregoing, however, if You shall become subject to a merger, acquisition or other consolidation pursuant to which holders of Warrant Stock
shall be entitled to receive cash, securities or other property, then the fair market value of the Warrant Stock shall be deemed to be the value received by the holders of the Warrant Stock (on a common equivalent basis) pursuant to such merger or
acquisition or other consolidation. 

 During the term of this Warrant Agreement, except as provided in the next sentence, You will at all
times from and after the Effective Date have authorized and reserved a sufficient number of shares of (a) Warrant Stock to provide for the exercise of our rights to purchase Warrant Stock, and (b) common stock to provide for the conversion
of the Warrant Stock. Notwithstanding the foregoing, in no event shall You be required to authorize or reserve any of Your preferred stock issued in the Next Round unless and until both (x) the Next Round is consummated and (y) the Warrant
Stock is Your preferred stock issued in the Next Round. 
 If We elect to exercise part of the Warrant Agreement, You will promptly issue to Us an amended
Warrant Agreement stating the remaining number of shares that are available. All other terms and conditions of that amended Warrant Agreement shall be identical to those contained in this Warrant Agreement. 

If at the end of the term of this Warrant Agreement, the fair market value of one share of Warrant Stock (or other security issuable upon the exercise hereof)
as determined in accordance herewith is greater than the Exercise Price in effect on such date, then this Warrant Agreement shall automatically be deemed on and as of such date to be converted pursuant hereto as to all shares of Warrant Stock (or
such other securities) for which it shall not previously have been exercised or converted, and You shall promptly deliver a certificate representing the shares of Warrant Stock (or such other securities) issued upon such conversion to Us. 

  
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	4.	 WHEN WILL THE NUMBER OF SHARES AND EXERCISE PRICE CHANGE. 

 
  

	 	•	 	 If You are Acquired. Subject to Section 2, if at any time: (i) there is a reorganization of Your
stock (other than a reclassification, exchange or subdivision of Your stock otherwise provided for in this Warrant Agreement); or (ii) You consummate a Deemed Liquidation Event (as defined in Your Certificate of Incorporation as amended through
the Effective Date (Your “Certificate of Incorporation”)) and a waiver of such Deemed Liquidation Event by Your shareholders shall not apply to Us (each such event referred to as a “Merger Event”), then, as a part of such Merger
Event, lawful provision shall be made so that We shall thereafter be entitled to receive, upon exercise of Our rights under this Warrant Agreement, the number of shares of preferred stock or other securities of the successor or surviving person
resulting from such Merger Event, equal in value to that which would have been issuable if We had exercised Our rights under this Warrant Agreement immediately prior to the Merger Event. In any such case, appropriate adjustment (as determined in
good faith by Your Board of Directors) shall be made in the application of the provisions of this Warrant Agreement with respect to Our rights and interest after the Merger Event so that the provisions of this Warrant Agreement (including
adjustments of the Exercise Price and number of shares of Warrant Stock purchasable) shall be applicable to the greatest extent possible. 

  

	 	•	 	 If You Reclassify Your Stock. If at any time, other than in connection with a Merger Event covered above,
You combine, reclassify, exchange or subdivide Your securities or otherwise change any of the securities as to which purchase rights under this Warrant Agreement exist into the same or a different number of securities of any other class or classes,
this Warrant Agreement will thereafter represent the right to acquire such number and kind of securities as would have been issuable as the result of such change with respect to the securities which were subject to the purchase rights under this
Warrant Agreement immediately prior to such combination, reclassification, exchange, subdivision or other change. 

  

	 	•	 	 If You Subdivide or Combine Your Shares. If at any time, other than in connection with a Merger Event
covered above, You combine or subdivide the Warrant Stock, the Exercise Price will be proportionately decreased in the case of a subdivision, or proportionately increased in the case of a combination. 

 

	 	•	 	 If You Pay Stock Dividends. If at any time, other than in connection with a Merger Event covered above,
You pay a dividend payable in, or make any other distribution (except any distribution specifically provided for in the above paragraphs) of the Warrant Stock, then the Exercise Price shall be adjusted, from and after the record date of such
dividend or distribution, to that price determined by multiplying the Exercise Price in effect immediately prior to such record date by a fraction (i) the numerator of which shall be the total number of all shares of the Warrant Stock
outstanding immediately prior to such dividend or distribution, and (ii) the denominator of which shall be the total number of all shares of the Warrant Stock outstanding immediately after such dividend or distribution. We will thereafter be
entitled to purchase, at the Exercise Price resulting from such adjustment, the number of shares of Warrant Stock (calculated to the nearest whole share) obtained by multiplying the Exercise Price in effect immediately prior to such adjustment by
the number of shares of Warrant Stock issuable upon the exercise hereof immediately prior to such adjustment and dividing the product thereof by the Exercise Price resulting from such adjustment. 

  
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	 	•	 	 “Pay to Play” Rights. In the event that We have not exercised this Warrant as to
all the Warrant Stock and any “pay to play” terms or conditions (i.e. terms or conditions that require a holder of shares of Your preferred stock (the “Preferred Stock”) to purchase securities in a future round of equity
financing or else lose the benefit of anti-dilution protections applicable to shares of Preferred Stock or have such shares of Preferred Stock automatically convert into common stock or another class or series of capital stock) in Your Certificate
of Incorporation are triggered in connection with any sale or issuance of securities (a “Trigger Event”), then, in each such event the purchase rights remaining under this Warrant Agreement shall automatically adjust to provide Us, upon
the later exercise hereof, with the same securities and/or rights that We would have received had We (x) exercised such portion of this Warrant Agreement prior to such Trigger Event, and (y) participated in the applicable equity financing
in an amount sufficient to be deemed to have fully participated for purposes of such “pay to play” provision. 

  

	 	•	 	 If You Change the Antidilution Rights of the Warrant Stock or Issue New Preferred or Convertible Stock.
All antidilution rights applicable to the Warrant Stock purchasable under this Warrant Agreement are as set forth in Your Certificate of Incorporation. You will promptly provide Us with any restatement, amendment, modification of or waiver of
any right, in each case that relates to the Warrant Stock, under Your Certificate of Incorporation. 

  

 

	5.	 WE CAN TRANSFER THIS WARRANT AGREEMENT. 

 
 Subject to the terms and conditions contained in
Section 7, We (or any successor transferee) may transfer in whole or in part this Warrant Agreement and all its rights. You will record the transfer on Your books when You receive Our Notice of Transfer in the form attached hereto as Exhibit
III, and Our payment of all transfer taxes and other governmental charges involved in such transfer. Such transferee shall agree to be bound by all terms and conditions of this Warrant Agreement and make the representations and covenants (including
with respect to the “Market Stand-Off’) in Section 7 hereof to You on the effective date of such transfer. 
  

 

	6.	 REPRESENTATIONS, WARRANTIES, AND COVENANTS FROM YOU. 

 
  

	 	•	 	 Reservation of Warrant Stock. The Warrant Stock issuable upon exercise of Our rights under this Warrant
Agreement will be duly and validly reserved (with it being acknowledged that, prior to the Next Round, You have not reserved any shares of the Next Round that this Warrant Agreement may be exercisable for) and when issued in accordance with the
provisions of this Warrant Agreement will be validly issued, fully paid and non-assessable, and will be free of any taxes, liens, charges or encumbrances of any nature whatsoever; provided, however, that the
Warrant Stock issuable pursuant to this Warrant Agreement may be subject to restrictions on transfer under state and/or Federal securities laws. Upon Our exercise, You will issue to Us certificates for shares of Warrant Stock without charging Us any
tax, or other cost incurred by You in connection with such exercise and the related issuance of shares of Warrant Stock. You will not be required to pay any tax, which may be payable in respect of any transfer involved and the issuance and delivery
of any certificate in a name other than             . 

  
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	 	•	 	 Due Authority. Your execution and delivery of this Warrant Agreement and the performance of Your
obligations hereunder, including the issuance to Us of the right to acquire the shares of Warrant Stock, have been duly authorized by all necessary corporate action on Your part and this Warrant Agreement is not inconsistent with Your Certificate of
Incorporation or Bylaws, do not contravene any law or governmental rule, regulation or order applicable to it, do not and will not contravene any provision of, or constitute a default under, any indenture, mortgage, material contract or other
instrument to which You are a party or by which You are bound, and this Warrant Agreement constitutes a legal, valid and binding agreement, enforceable in accordance with its respective terms, subject to laws of general application relating to
bankruptcy, insolvency and the relief of debtors and the rules of law or principles at equity governing specific performance, injunctive relief and other equitable remedies. 

 

	 	•	 	 Consents and Approvals. No consent or approval of, giving of notice to, registration with, or taking of
any other action in respect of any state, Federal or other governmental authority or agency is required with respect to execution, delivery and Your performance of Your obligations under this Warrant Agreement, except for the corporate approvals in
connection with the Next Round and the filing of any required notices pursuant to Federal and state securities laws, which filings will be effective by the times required thereby. 

 

	 	•	 	 Issued Securities. All of Your issued and outstanding shares of common stock, Warrant Stock or any other
securities have been duly authorized and validly issued and are fully paid and nonassessable. All outstanding shares of common stock and Warrant Stock were issued in full compliance with all Federal and state securities laws. In addition, as of the
Effective Date, and immediately prior to the issuance of this Warrant, Our capitalization is as set forth in the attached Schedule 1. 

  

	 	•	 	 Other Commitments to Register Securities. Except as set forth in this Warrant Agreement and the
Investors’ Rights Agreement, You are not, pursuant to the terms of any other agreement currently in existence, under any obligation to register under the 1933 Act any of Your presently outstanding securities or any of Your securities which may
hereafter be issued. 

  

	 	•	 	 Exempt Transaction. Subject to the accuracy of Our representations in Section 7 hereof, the issuance
of the Warrant Stock upon exercise of this Warrant Agreement will constitute a transaction exempt from (i) the registration requirements of Section 5 of the 1933 Act, in reliance upon Section 4(2) thereof, and (ii) the
qualification requirements of the applicable state securities laws. 

  

	 	•	 	 Compliance with Rule 144. We may sell the Warrant Stock issuable hereunder in compliance with Rule 144
promulgated by the Securities and Exchange Commission. Within ten (10) days of Our request, You agree to furnish Us, a written statement confirming Your compliance with the filing requirements of the Securities and Exchange Commission as set
forth in such Rule 144, as may be amended. 

  

	 	•	 	 No Impairment. Except as set forth herein, You agree not to, by amendment of Your Certificate of
Incorporation, by-laws or other organizational or charter documents or 

  
 8 

	 	 
through a reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance
of any of the terms to be observed or performed under this Warrant Agreement by You, but shall at all times in good faith assist in carrying out of all the provisions of this Warrant Agreement and in taking all such action as may be necessary or
appropriate to protect Our rights under this Warrant Agreement against impairment. However, notwithstanding the foregoing, You shall not be deemed to have impaired Our rights if You amend, restate, modify or waive any provisions of Your Certificate
of Incorporation (by amendment, merger, reclassification, recapitalization or otherwise), or the holders of Your preferred stock waive their rights thereunder, in a manner that does not (individually or when considered in the context of any other
actions being taken in connection with such amendments or waivers) the rights, privileges, preferences, restrictions and limitations of the Warrant Stock in a manner different from the effect that such amendments, restatements, modifications or
waivers have generally on the rights, privileges, preferences, restrictions and limitations of the then outstanding securities of You that are of the same series and class as the Warrant Stock, it being expressly understood that an amendment,
restatement, modification or waiver that applies equally to all holders of the class and/or series of securities then issuable upon exercise of this Warrant that has a different economic effect on You shall not be deemed to affect the rights,
privileges, preferences, restrictions and limitations of the Warrant Stock in a manner different from the effect that such amendments, restatements, modification or waivers have generally on the rights, privileges, preferences, restrictions and
limitations of the then outstanding securities of You that are of the same series and class as the Warrant Stock. 

  

 

	7.	 OUR REPRESENTATIONS AND COVENANTS TO YOU. 

 
  

	 	•	 	 Investment Purpose. The right to acquire Warrant Stock or the Warrant Stock issuable upon exercise of Our
rights contained herein and the common stock issuable upon conversion will be acquired for investment purposes and not with a view to the sale or distribution of any part thereof, and We have no present intention of selling or engaging in any public
distribution of the same in violation of the 1933 Act. 

  

	 	•	 	 Private Issue. We understand (i) that this Warrant Agreement, the Warrant Stock issuable upon
exercise of this Warrant Agreement and the common stock issuable upon conversion of the Warrant Stock are not registered under the 1933 Act or qualified under applicable state securities laws on the ground that the issuance contemplated by this
Warrant Agreement will be exempt from the registration and qualifications requirements thereof; and (ii) that Your reliance on such exemption is predicated on the representations set forth in this Section 7. 

 

	 	•	 	 Disposition of Our Rights. In no event will We make a disposition of any of Our rights to acquire Warrant
Stock or Warrant Stock issuable upon exercise of such rights or the common stock issuable upon conversion of the Warrant Stock unless and until (i) We shall have notified You in writing of the proposed disposition, and (ii) the transferee
agrees to be bound in writing to the applicable terms and conditions of this Warrant Agreement, and (iii) if You request, We shall have furnished You with an opinion of counsel satisfactory to You and Your counsel to the effect that
(A) appropriate action necessary for compliance 

  
 9 

	 	 
with the 1933 Act has been taken, or (B) an exemption from the registration requirements of the 1933 Act is available. Notwithstanding the foregoing, the restrictions imposed upon the
transferability of any of Our rights to acquire Warrant Stock or Warrant Stock issuable on the exercise of such rights or the common stock issuable upon conversion of the Warrant Stock do not apply to transfers from the beneficial owner of any of
the aforementioned securities to its nominee or from such nominee to its beneficial owner, and shall terminate as to any particular share of Warrant Stock when (1) such security shall have been effectively registered under the 1933 Act and sold
by the holder thereof in accordance with such registration or (2) such security shall have been sold without registration in compliance with Rule 144 under the 1933 Act, or (3) a letter shall have been issued to You at Our request by the
staff of the Securities and Exchange Commission or a ruling shall have been issued to You at Our request by such Commission stating that no action shall be recommended by such staff or taken by such Commission, as the case may be, if such security
is transferred without registration under the 1933 Act in accordance with the conditions set forth in such letter or ruling and such letter or ruling specifies that no subsequent restrictions on transfer are required. Whenever the restrictions
imposed hereunder shall terminate, as hereinabove provided, the holder of a share of Warrant Stock then outstanding as to which such restrictions have terminated shall be entitled to receive from You, without expense to such holder, one or more new
certificates for the Warrant or for such shares of Warrant Stock not bearing any restrictive legend referring to 1933 Act registration or exemption. 

  

	 	•	 	 Financial Risk. We have such knowledge and experience in financial and business matters and knowledge of
Your business affairs and financial condition as to be capable of evaluating the merits and risks of Our investment, and have the ability to bear the economic risks of Our investment. 

 

	 	•	 	 Risk of No Registration. We understand that if You do not register with the Securities and Exchange
Commission pursuant to Section 12 of the Securities Exchange Act of 1934 (the “1934 Act”), or file reports pursuant to Section 15(d), of the 1934 Act, or if a registration statement covering the securities under the 1933 Act is
not in effect when We desire to sell (i) the rights to purchase Warrant Stock pursuant to this Warrant Agreement, or (ii) the Warrant Stock issuable upon exercise of the right to purchase, or (iii) the common stock issuable upon
conversion of the Warrant Stock, We may be required to hold such securities for an indefinite period. We also understand that any sale of Our right to purchase Warrant Stock or Warrant Stock or common stock issuable upon conversion of the Warrant
Stock, which might be made by it in reliance upon Rule 144 under the 1933 Act may be made only in accordance with the terms and conditions of that Rule. 

  

	 	•	 	 Accredited Investor. We are an “accredited investor” within the meaning of the Securities and
Exchange Rule 501 of Regulation D of the 1933 Act, as presently in effect. 

  

	 	•	 	 “Market Stand-Off” Agreement. With respect to this
Warrant, the Warrant Stock and any shares of common stock issuable upon conversion of the Warrant Stock, We hereby agree to be bound by the “Market Stand-off” provisions in Section 2.11 of Your
Investors’ Rights Agreement (as defined below). Notwithstanding the foregoing, in no event shall such market stand-off agreement restrict Our ability to exercise Our purchase rights under

  
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this Warrant Agreement, including the transfer of common stock to You solely to satisfy the exercise price pursuant to the net issuance method and if there is any conflict between the
Investors’ Rights Agreement and this subsection, this subsection shall control. 

  

 

	8.	 NOTICES YOU AGREE TO 

 
 You agree to give Us at least ten (10) days
prior written notice of the following events: 
  

	 	•	 	 If You pay a dividend or distribution declaration upon Your stock. 

 

	 	•	 	 If You offer for subscription pro-rata to the existing shareholders
additional stock or other rights. 

  

	 	•	 	 If You consummate or sign definitive documents providing for a Merger Event. 

 

	 	•	 	 If You have an initial public offering. 

 

	 	•	 	 If You dissolve or liquidate. 

All notices in this Section must set forth details of the event, how the event adjusts either Our number of shares or Our Exercise Price and the method used
for such adjustment. 
 Timely Notice. Your failure to timely provide such notice required above shall entitle Us to retain the benefit of the
applicable notice period notwithstanding anything to the contrary contained in any insufficient notice received by Us; provided, however, that this will not prevent or delay You from consummating any of the transactions listed above. 

 
  

	9.	 DOCUMENTS YOU WILL PROVIDE US. 

 
 Upon signing this Warrant Agreement You will
provide Us with: 
  

	 	•	 	 Executed originals of this Warrant Agreement, and all other documents and instruments that We may reasonably
require 

  

	 	•	 	 Secretary’s certificate of incumbency and authority 

 

	 	•	 	 Certified copy of resolutions of Your board of directors approving this Warrant Agreement 

 

	 	•	 	 Certified copy of Certificate of Incorporation and by-laws as amended
through the Effective Date 

  

	 	•	 	 The Investors’ Rights Agreement 

So long as this Warrant Agreement is in effect, You shall provide Us with the following: 

 

	 	•	 	 Within five (5) business days after the closing of any equity financing, or extension of an existing round
of equity financing, occurring after the Effective Date, in which You issue preferred stock or other securities You will provide Us with copies of the fully executed 

  
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equity financing documents, including without limitation the related stock purchase agreement, investors rights agreement, voting agreement, amended or restated Certificates of Incorporation,
current capitalization table and other related documents. Notwithstanding any term or condition contained in this Warrant Agreement to the contrary, Your failure to comply with this paragraph shall not constitute a default unless You have not
provided the information requested within five (5) business days after Our request. 

  

	 	•	 	 Within thirty (30) days after completion You shall provide Us with any 409A Valuation Reports or other
similar reports prepared for You. Notwithstanding any term or condition contained in this Warrant Agreement to the contrary, Your failure to comply with this paragraph shall not constitute a default unless You have not provided the information
requested within five (5) business days after Our request. 

  

	 	•	 	 After all obligations under the Loan Agreement have been finally paid in full, within forty-five (45) days
after the end of each quarter, You will provide Us with (1) an unaudited income statement, statement of cash flows, and an unaudited balance sheet prepared in accordance with GAAP accompanied by a report detailing any material contingencies,
(2) (i) at all times that Your Board of Directors requires You to prepare audited financial statements, as soon as available, but no later than two hundred and ten (210) days after the last day of Your fiscal year, audited consolidated
financial statements prepared under GAAP, consistently applied, together with an unqualified opinion on the financial statements from an independent certified public accounting firm reasonably acceptable to Us; and (ii) at all other times, as
soon as available, but no later than sixty (60) days after the last day of Your fiscal year, a company-prepared consolidated balance sheet and income statement covering Your consolidated operations during such fiscal year.

  

	 	•	 	 You shall submit to Us any other documents and other information that We may reasonably request from time to time
and are necessary to implement the provisions and purposes of this Warrant Agreement. Notwithstanding any term or condition contained in this Warrant Agreement to the contrary, Your failure to comply with this paragraph shall not constitute a
default unless You have not provided the information requested within five (5) days of Our request. 

  

 

	10.	 REGISTRATION RIGHTS UNDER THE 1933 ACT. 

 
 Concurrently with the issuance of this Warrant
Agreement, the Amended and Restated Investors’ Rights Agreement attached hereto as Exhibit IV shall be executed and delivered by You, Us, and by such other parties as are necessary to amend and restate the Prior Agreement (as defined in
therein) (the “Investors’ Rights Agreement”). 
  
  

	11.	 OTHER LEGAL PROVISIONS THE PARTIES WILL ABIDE BY. 

 
 Effective Date. This Warrant Agreement shall
be construed and shall be given effect in all respects as if it had been executed and delivered by the Parties on the date hereof. This Warrant Agreement shall be binding upon any of the successors or assigns of the Parties. 

  
 12 

 Attorney’s Fees. In any litigation, arbitration or court proceeding between the Parties relating
to this Warrant Agreement, the prevailing party shall be entitled to attorneys’ fees and expenses and all costs of proceedings incurred in enforcing this Warrant Agreement. 

Fractional Shares. No fractional shares shall be issued upon the exercise of this Warrant Agreement as a consequence of any adjustment pursuant hereto.
All Warrant Stock (including fractions) issuable upon exercise of this Warrant Agreement may be aggregated for purposes of determining whether the exercise would result in the issuance of any fractional share. If, after aggregation, the exercise
would result in the issuance of a fractional share, You shall, in lieu of issuance of any fractional share, pay Us, if We are otherwise entitled to such fraction, a sum in cash equal to the product resulting from multiplying the then current fair
market value of the Warrant Stock by such fraction. 
 Governing Law. This Warrant Agreement shall be governed by and construed for all purposes
under and in accordance with the laws of the State of California without giving effect to that body of law pertaining to conflicts of laws. 
 Consent to
Jurisdiction and Venue. All judicial proceedings arising in or under or related to this Warrant Agreement may be brought in any state or federal court of competent jurisdiction located in the State of California. By execution and delivery of
this Warrant Agreement, each party hereto generally and unconditionally: (a) consents to personal jurisdiction in San Mateo County, State of California; (b) waives any objection as to jurisdiction or venue in San Mateo County, State of
California; (c) agrees not to assert any defense based on lack of jurisdiction or venue in the aforesaid courts; and (d) irrevocably agrees to be bound by any judgment rendered thereby in connection with this Warrant Agreement. Service of
process on any party hereto in any action arising out of or relating to this Warrant Agreement shall be effective if given in accordance with the requirements for notice set forth in this Section, and shall be deemed effective and received as set
forth therein. Nothing herein shall affect the right to serve process in any other manner permitted by law or shall limit the right of either party to bring proceedings in the courts of any other jurisdiction. 

Mutual Waiver of Jury Trial; Judicial Reference. Because disputes arising in connection with complex financial transactions are most quickly and
economically resolved by an experienced and expert person and the Parties wish applicable state and federal laws to apply (rather than arbitration rules), the Parties desire that their disputes be resolved by a judge applying such applicable laws.
EACH OF THE PARTIES SPECIFICALLY WAIVES ANY RIGHT THEY MAY HAVE TO TRIAL BY JURY OF ANY CAUSE OF ACTION, CLAIM, CROSS-CLAIM, COUNTERCLAIM, THIRD PARTY CLAIM OR ANY OTHER CLAIM (COLLECTIVELY, “CLAIMS”) ASSERTED BY YOU AGAINST US OR OUR
ASSIGNEE OR BY US OR OUR ASSIGNEE AGAINST YOU. IN THE EVENT THAT THE FOREGOING JURY TRIAL WAIVER IS NOT ENFORCEABLE, ALL CLAIMS, INCLUDING ANY AND ALL QUESTIONS OF LAW OR FACT RELATING THERETO, SHALL, AT THE WRITTEN REQUEST OF ANY PARTY, BE
DETERMINED BY JUDICIAL REFERENCE PURSUANT TO THE CALIFORNIA CODE OF CIVIL PROCEDURE (“REFERENCE”). THE PARTIES SHALL SELECT A SINGLE NEUTRAL REFEREE, WHO SHALL BE A RETIRED STATE OR FEDERAL JUDGE. IN THE EVENT THAT THE PARTIES CANNOT AGREE
UPON A REFEREE, THE REFEREE SHALL BE APPOINTED BY THE COURT. THE REFEREE 

  
 13 

 
SHALL REPORT A STATEMENT OF DECISION TO THE COURT. NOTHING IN THIS SECTION SHALL LIMIT THE RIGHT OF ANY PARTY AT ANY TIME TO EXERCISE LAWFUL SELF-HELP REMEDIES, FORECLOSE AGAINST COLLATERAL OR
OBTAIN PROVISIONAL REMEDIES. THE PARTIES SHALL BEAR THE FEES AND EXPENSES OF THE REFEREE EQUALLY UNLESS THE REFEREE ORDERS OTHERWISE. THE REFEREE SHALL ALSO DETERMINE ALL ISSUES RELATING TO THE APPLICABILITY, INTERPRETATION, AND ENFORCEABILITY OF
THIS SECTION. THE PARTIES ACKNOWLEDGE THAT THE CLAIMS WILL NOT BE ADJUDICATED BY A JURY. This waiver extends to all such Claims, including Claims that involve persons other than You and Us; Claims that arise out of or are in any way connected to the
relationship between You and Us; and any Claims for damages, breach of contract, specific performance, or any equitable or legal relief of any kind, arising out of this Warrant Agreement. 

Counterparts. This Warrant Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together
shall constitute one and the same instrument. 
 Notices. Any notice required or permitted under this Warrant Agreement shall be given in writing and
shall be deemed effectively given upon the earlier of (1) actual receipt or 3 days after mailing if mailed postage prepaid by regular or airmail to Us or You or (2) one day after it is sent by overnight mail via nationally recognized
courier or (3) on the same day as sent via confirmed facsimile transmission, provided that the original is sent by personal delivery or mail by the sending party. 

Remedies. In the event of any default hereunder, the non-defaulting party may proceed to protect and enforce
its rights either by suit in equity and/or by action at law, including but not limited to an action for damages as a result of any such default, and/or an action for specific performance for any default where such party will not have an adequate
remedy at law and where damages will not be readily ascertainable. Each party expressly acknowledges and agrees that there is no adequate remedy at law for any breach of this Warrant Agreement and that in the event of any breach of this Warrant
Agreement, the injured party shall be entitled to specific performance of any or all provisions hereof or an injunction prohibiting the other party from continuing to commit any such breach of this Warrant Agreement. 

Survival. The representations, warranties, covenants, and conditions of the Parties contained herein or made pursuant to this Warrant Agreement shall
survive the execution and delivery of this Warrant Agreement. 
 Severability. In the event any one or more of the provisions of this Warrant
Agreement shall for any reason be held invalid, illegal or unenforceable, the remaining provisions of this Warrant Agreement shall be unimpaired, and the invalid, illegal or unenforceable provision shall be replaced by a mutually acceptable valid,
legal and enforceable provision, which comes closest to the intention of the Parties underlying the invalid, illegal or unenforceable provision. 

Entire Agreement. This Warrant Agreement constitutes the entire agreement between the Parties pertaining to the subject matter contained in it and
supersedes all prior and contemporaneous agreements, representations and undertakings of the Parties, whether oral or written, with respect to such subject matter. 

  
 14 

 Amendments. Any provision of this Warrant Agreement may only be amended by a written instrument
signed by the Parties. 
 Lost Warrants or Stock Certificates. You covenant to Us that, upon receipt of evidence reasonably satisfactory to Us of the
loss, theft, destruction or mutilation of this Warrant Agreement or any stock certificate and, in the case of any such loss, theft or destruction, upon receipt of an indemnity reasonably satisfactory to You, or in the case of any such mutilation
upon surrender and cancellation of such Warrant Agreement or stock certificate, You will make and deliver a new Warrant Agreement or stock certificate, of like tenor, in lieu of the lost, stolen, destroyed or mutilated Warrant Agreement or stock
certificate. 
 Rights as Stockholders. We shall not, as a party to this Warrant Agreement, be entitled to vote or receive dividends or be deemed the
holder of Warrant Stock or any of Your other securities which may at any time be issuable upon the exercise hereof for any purpose, nor shall anything contained herein be construed to confer upon Us any of the rights of one of Your stockholders or
any right to vote for the election of directors or upon any matter submitted to stockholders at any meeting thereof, or to receive dividends or subscription rights or otherwise until this Warrant Agreement is exercised and the shares purchasable
upon the exercise hereof shall have become deliverable, as provided herein. 
 Signatures. This Warrant Agreement may be executed and delivered by
facsimile or transmitted electronically in either Tagged Image Format Files (“TIFF”) or Portable Document Format (“PDF”) and, upon such delivery, the facsimile, TIFF or PDF signature, as applicable, will be deemed to have the
same effect as if the original signature had been delivered to the other party. 
 (Signature Page to Follow) 

  
 15 

 IN WITNESS WHEREOF, each of the Parties have caused this Warrant Agreement to be executed by its
officers who are duly authorized as of the Effective Date. 
  

			
	You:	 	GROVE COLLABORATIVE, INC.
		
	Signature:	 	  

		
	Print Name:	 	  

		
	Title:	 	  

		
	Us:	 	
		
	Signature:	 	  

		
	Print Name:	 	  

		
	Title:	 	  

 [SIGNATURE PAGE TO WARRANT AGREEMENT] 

  
 16 

 EXHIBIT I 

NOTICE OF EXERCISE 
  

	To:	
[                    ]

  

	1.	 We hereby elect to purchase
[                ] shares of the Series [                ] Preferred Stock
of [                ], pursuant to the terms of the Plain English Warrant Agreement dated the
[                    ] day of [                ],
[20        ] (the “Warrant Agreement”) between You and Us, We hereby tender here payment of the purchase price for such shares in full, together with all applicable transfer taxes, if
any. 

  

	2.	 Method of Exercise (Please initial the applicable blank) 

 

	 	a.	
                     The
undersigned elects to exercise the Warrant Agreement by means of a cash payment, and gives You full payment for the purchase price of the shares being purchased, together with all applicable transfer taxes, if any. 

 

	 	b.	
                     The
undersigned elects to exercise the Warrant Agreement by means of the net issuance method of Section 3 of the Warrant Agreement. 

  

	3.	 In exercising Our rights to purchase the Series
[                ] Preferred Stock of [                ], We hereby
confirm and acknowledge the investment representations, warranties and covenants made in Section 7 of the Warrant Agreement. 

Please issue a certificate or certificates representing these purchased shares of Series
[                ] Preferred Stock in Our name or in such other name as is specified below. 

 

					
		
	        	 	  

		 	(Name)
		
		 	  

		 	(Address)
			
		 	US:	 	
			
		 	By:	 	  

			
		 	Title:	 	  

			
		 	Date:	 	  

  
 17 

 EXHIBIT II 

ACKNOWLEDGMENT OF EXERCISE 

[                    ], hereby acknowledges receipt
of the “Notice of Exercise” from                      to purchase
[                ] shares of the Series [                ] Preferred Stock
of [                    ] pursuant to the terms of the Plain English Warrant Agreement dated the
[                ] day of [                ],
[20        ] (the “Warrant Agreement”) and further acknowledges that [                ] shares remain
subject to purchase under the terms of the Warrant Agreement. 
  

					
	YOU:	 	GROVE COLLABORATIVE,
INC.                            
			
		 	By:	 	  

			
		 	Title:	 	  

			
		 	Date:	 	  

  
 18 

 EXHIBIT III 

TRANSFER NOTICE 
 FOR VALUE RECEIVED,
the foregoing Warrant Agreement and all rights evidenced thereby are hereby transferred and assigned to 
  

                         
                                         
                   
 (Please Print) 

Whose address is
                                         
                            
  

                         
                                         
                                 

Dated:
                                         
                    
 Holder’s Signature:
                                       

Holder’s Address:
                                        

 Transferee’s Signature:
                                

Transferee’s Address:
                                  

Signature Guaranteed:
                                 

NOTE: The signature to this Transfer Notice must correspond with the name as it appears on the face of the Warrant Agreement, without alteration or
enlargement or any change whatever. Officers of corporations and those acting in a fiduciary or other representative capacity should file proper evidence of authority to assign the foregoing Warrant Agreement. 

  
 19 

 EXHIBIT IV 

A&R INVESTORS’ RIGHTS AGREEMENT 

  
 20EX-10.3

 Exhibit 10.3 
  

 
 AMENDED AND RESTATED REGISTRATION
RIGHTS AGREEMENT 
 by and among 

GROVE COLLABORATIVE HOLDINGS, INC., 

and 
 THE STOCKHOLDERS THAT ARE
SIGNATORIES HERETO 
 Dated as of June 16, 2022 
  

 
  

 TABLE OF CONTENTS 

Page 
  

							
	 SECTION 1. CERTAIN DEFINITIONS
	  	 	1	 
		
	 SECTION 2. REGISTRATION RIGHTS
	  	 	6	 
			
	 2.1.
	 	Demand Registrations	  	 	6	 
			
	 2.2.
	 	Piggyback Registrations	  	 	10	 
			
	 2.3.
	 	Allocation of Securities Included in Registration Statement	  	 	11	 
			
	 2.4.
	 	Registration Procedures	  	 	13	 
			
	 2.5.
	 	Registration Expenses	  	 	20	 
			
	 2.6.
	 	Certain Limitations on Registration Rights	  	 	21	 
			
	 2.7.
	 	Limitations on Sale or Distribution of Other Securities	  	 	21	 
			
	 2.8.
	 	No Required Sale	  	 	21	 
			
	 2.9.
	 	Indemnification	  	 	22	 
			
	 2.10.
	 	No Inconsistent Agreements	  	 	25	 
		
	 SECTION 3. UNDERWRITTEN OFFERINGS
	  	 	26	 
			
	 3.1.
	 	Requested Underwritten Offerings	  	 	26	 
			
	 3.2.
	 	Piggyback Underwritten Offerings	  	 	26	 
		
	 SECTION 4. GENERAL
	  	 	26	 
			
	 4.1.
	 	Adjustments Affecting Registrable Securities	  	 	26	 
			
	 4.2.
	 	Rule 144	  	 	26	 
			
	 4.3.
	 	Nominees for Beneficial Owners	  	 	27	 
			
	 4.4.
	 	Amendments and Waivers	  	 	27	 
			
	 4.5.
	 	Notices	  	 	27	 
			
	 4.6.
	 	Successors and Assigns	  	 	28	 
			
	 4.7.
	 	Termination	  	 	28	 
			
	 4.8.
	 	Entire Agreement	  	 	28	 
			
	 4.9.
	 	Governing Law; Jurisdiction; WAIVER OF JURY TRIAL	  	 	29	 
			
	 4.10.
	 	Interpretation; Construction	  	 	29	 
			
	 4.11.
	 	Counterparts	  	 	29	 
			
	 4.12.
	 	Severability	  	 	29	 
			
	 4.13.
	 	Specific Enforcement	  	 	30	 
			
	 4.14.
	 	Further Assurances	  	 	30	 

  
 -i- 

 TABLE OF CONTENTS 

(continued) 
 Page 

 

							
	 4.15.
	 	Confidentiality	  	 	30	 
			
	 4.16.
	 	Opt-Out Requests	  	 	31	 
			
	 4.17.
	 	Original Registration Rights Agreement	  	 	31	 
			
	 Exhibit A
	 	Joinder Agreement	  			

  

  
 -ii- 

 AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT, dated as of June 16, 2022
(as amended, restated, supplemented or otherwise modified from time to time, this “Agreement”), is made and entered into by and among (i) Grove Collaborative Holdings, Inc., a Delaware public benefit corporation domesticated
from Virgin Group Acquisition Corp. II, a Cayman Islands exempted company (the “Company”), (ii) the stockholders of the Company party hereto (the “Stockholders”) and (iii) any person or entity who hereafter
becomes a party to this Agreement pursuant to Section 4.6 of this Agreement (each, a “Holder” and collectively with the Stockholders, the “Holders”). 

RECITALS: 

WHEREAS, the Company, Treehouse Merger Sub, Inc., a Delaware corporation and a wholly owned subsidiary of the Company (“Merger
Sub I”), Treehouse Merger Sub II, LLC, a Delaware limited liability company and a wholly owned subsidiary of the Company (“Merger Sub II”) and Grove Collaborative, Inc., a Delaware public benefit corporation
(“Grove”), have entered into an Amended and Restated Agreement and Plan of Merger, dated as of March 31, 2022 (as amended from time to time on or prior to the date hereof, the “Merger Agreement”), pursuant to
which, among other things, Merger Sub I merged with and into Grove with Grove continuing as the surviving entity and a subsidiary of the Company (the “Initial Merger”) and, immediately following the Initial Merger, Grove merged with
and into Merger Sub II with Merger Sub II continuing as the surviving entity and a subsidiary of the Company (the “Final Merger” and, together with the Initial Merger, the “Mergers”); 

WHEREAS, the Company and Virgin Group Acquisition Sponsor II LLC, a Cayman Island limited liability company and a Stockholder (the
“Sponsor”) are parties to that certain Registration and Shareholder Rights Agreement, dated as of March 22, 2021 (the “Original Registration Rights Agreement”), which shall be amended and restated by
this Agreement; 
 WHEREAS, following the closing of the Mergers (the “Closing”), the Sponsor and the other
Stockholders owned shares of Class A Common Stock, par value $0.0001 per share of the Company (the “Class A Common Stock”), Class A Common Stock Equivalents (as defined herein), shares of Class B
Common Stock, par value $0.0001 per share of the Company (the “Class B Common Stock”), which are convertible on a share for share basis into shares of Class A Common Stock, and/or Class B Common Stock
Equivalents (as defined herein); 
 WHEREAS, each of the Stockholders (other than the Sponsor and Corvina Holdings Limited)
beneficially owns at least 5% of the Common Stock; and 
 WHEREAS, in connection with the Mergers, the Company has agreed to provide
the registration rights set forth in this Agreement. 
 NOW, THEREFORE, in consideration of the premises and of the mutual covenants
and obligations hereinafter set forth, the parties hereto hereby agree as follows: 
 Section 1. Certain Definitions. As used herein,
the following terms shall have the following meanings: 
 “Additional Piggyback Rights” has the meaning ascribed to such
term in Section 2.3(a). 

  
 1 

 “Affiliate” means, with respect to any Person, any other Person that
directly or indirectly controls, is controlled by or is under common control with, such Person. For the purposes of this definition “control” (including, with correlative meanings, the terms “controlling”, “controlled
by” and “under common control with”), with respect to any Person, means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such specified Person, whether through the
ownership of voting securities, by contract or otherwise. For the avoidance of doubt, neither the Company nor any Person controlled by the Company shall be deemed to be an Affiliate of any Holder. 

“Agreement” has the meaning ascribed to such term in the Preamble. 

“Automatic shelf registration statement” has the meaning ascribed to such term in Section 2.4. 

“Board” means the Board of Directors of the Company. 

“Business Day” means a day, other than Saturday, Sunday or other day on which commercial banks in New York, New York are
authorized or required by law to close. 
 “Claims” has the meaning ascribed to such term in
Section 2.9(a). 
 “Class A Common Stock” has the meaning ascribed to such
term in the recitals. 
 “Class A Common Stock Equivalents” means all shares of Class B Common
Stock, all Class B Common Stock Equivalents, and all options, warrants and other securities convertible into, or exchangeable or exercisable for (at any time or upon the occurrence of any event or contingency and without regard to any vesting
or other conditions to which such securities may be subject), shares of Class A Common Stock (including any note or debt security convertible into or exchangeable for shares of Class A Common Stock). 

“Class B Common Stock” has the meaning ascribed to such term in the recitals. 

“Class B Common Stock Equivalents” means all options, warrants and other securities convertible into, or
exchangeable or exercisable for (at any time or upon the occurrence of any event or contingency and without regard to any vesting or other conditions to which such securities may be subject), shares of Class B Common Stock (including any note
or debt security convertible into or exchangeable for shares of Class B Common Stock). 
 “Common Stock” means all
shares existing or hereafter authorized of the Class A Common Stock and Class B Common Stock, and any class of common stock of the Company and any and all securities of any kind whatsoever which may be issued after the date hereof in
respect of, or in exchange for, such shares of common stock of the Company pursuant to a merger, consolidation, stock split, stock dividend or recapitalization of the Company or otherwise. 

“Company” has the meaning ascribed to such term in the Preamble. 

“Confidential Information” has the meaning ascribed to such term in Section 4.15. 

  
 2 

 “Demand Exercise Notice” has the meaning ascribed to such term in
Section 2.1(b)(i). 
 “Demand Registration” has the meaning ascribed to such term in
Section 2.1(b)(i). 
 “Demand Registration Period” has the meaning ascribed to such term in
Section 2.1(b)(i). 
 “Demand Registration Request” has the meaning ascribed to such term in
Section 2.1(b)(i). 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended, and
the rules and regulations of the SEC issued under such Act, as they may from time to time be in effect. 
 “Expenses” means
any and all fees and expenses incident to the Company’s performance of or compliance with Section 2, including: (i) SEC, stock exchange, FINRA and all other registration and filing fees and all listing fees and
fees with respect to the inclusion of securities on the Nasdaq or on any other U.S. or non-U.S. securities market on which the Registrable Securities are listed or quoted, (ii) fees and expenses of
compliance with state securities or “blue sky” laws of any state or jurisdiction of the United States or compliance with the securities laws of foreign jurisdictions and in connection with the preparation of a “blue sky” survey,
including reasonable fees and expenses of outside “blue sky” counsel and securities counsel in foreign jurisdictions, (iii) word processing, printing and copying expenses, (iv) messenger and delivery expenses, (v) expenses
incurred in connection with any road show, (vi) fees and disbursements of counsel for the Company, (vii) with respect to each registration or underwritten offering, the reasonable fees and disbursements of one counsel for the Initiating
Holder and one counsel for all other Participating Holder(s) collectively (selected by the holders of a majority of the Registrable Securities held by such other Participating Holder(s)), together in each case with any local counsel, provided
that expenses payable by the Company pursuant to this clause (vii) shall not exceed (1) $150,000 for the first registration pursuant to this Agreement and (2) $100,000 for each subsequent registration, (viii) fees and disbursements of all
independent public accountants (including the expenses of any opinion and/or audit/review and/or “comfort” letter and updates thereof) and fees and expenses of other Persons, including special experts, retained by the Company,
(ix) fees and expenses payable to a Qualified Independent Underwriter (but expressly excluding any underwriting discounts and commissions), (x) fees and expenses of any transfer agent or custodian, (xi) any other fees and disbursements of
underwriters, if any, customarily paid by issuers or sellers of securities, including reasonable fees and expenses of counsel for the underwriters in connection with any filing with or review by FINRA (but expressly excluding any underwriting
discounts and commissions) and (xii) rating agency fees and expenses. 
 “Final Merger” has the meaning ascribed to
such term in the Recitals. 
 “FINRA” means the Financial Industry Regulatory Authority, Inc. 

“Initial Merger” has the meaning ascribed to such term in the Recitals. 

“Initiating Holders” means (a) Holders of at least thirty percent (30%) of the Registrable Securities then outstanding
or (b) the Sponsor. 

  
 3 

 “Joinder Agreement” means a writing in the form set forth in Exhibit
A hereto whereby a new Holder of Registrable Securities becomes a party to, and agrees to be bound, to the same extent as its transferor, as applicable, by the terms of this Agreement. 

“Majority Participating Holders” means Participating Holders holding more than 50% of the Registrable Securities proposed to
be included in any offering of Registrable Securities by such Participating Holders pursuant to Section 2.1 or Section 2.2. 

“Manager” means the lead managing underwriter of an underwritten offering. 

“Merger Agreement” has the meaning ascribed to such term in the Recitals. 

“Merger Sub I” has the meaning ascribed to such term in the Recitals. 

“Merger Sub II” has the meaning ascribed to such term in the Recitals. 

“Mergers” has the meaning ascribed to such term in the Recitals. 

“Minimum Threshold” means $50.0 million. 

“Opt-Out Request” has the meaning ascribed to such term in
Section 4.16. 
 “Participating Holders” means all Holders of Registrable Securities which are
proposed to be included in any offering of Registrable Securities pursuant to Section 2.1 or Section 2.2. 

“Person” means any individual, firm, corporation, company, limited liability company, partnership, trust, joint stock
company, business trust, incorporated or unincorporated association, joint venture, governmental authority or other legal entity of any nature whatsoever. 

“Piggyback Notice” has the meaning ascribed to such term in Section 2.2(a). 

“Piggyback Shares” has the meaning ascribed to such term in Section 2.3(a)(ii). 

“Postponement Period” has the meaning ascribed to such term in Section 2.1(c). 

“Qualified Independent Underwriter” means a “qualified independent underwriter” within the meaning of FINRA Rule
5121. 
 “Registrable Securities” means (a) any shares of Class A Common Stock held by the Holders at any time
(including those held as a result of, or issuable upon, the conversion or exercise of Class A Common Stock Equivalents) or any other equity security other than Class B Common Stock or Class B Common Stock Equivalents (including
warrants to purchase shares of Class A Common Stock), whether now owned or acquired by the Holders at a later time, (b) any shares of Class A Common Stock or any other equity security other than Class B Common Stock or
Class B Common Stock Equivalents (including warrants to purchase shares of Class A Common Stock) issued or issuable, directly or indirectly, in exchange for or with respect to the Common Stock or any other equity security (including
warrants to purchase shares of Class A Common Stock) referenced in clause (a) above by way of stock dividend, stock split or combination of shares or in 

  
 4 

 connection with a reclassification, recapitalization, merger, share exchange, consolidation or other
reorganization and (c) any securities other than Class B Common Stock or Class B Common Stock Equivalents issued in replacement of or exchange for any securities described in clause (a) or (b) above. Class B Common Stock and
Class B Common Stock Equivalents shall not constitute Registrable Securities hereunder, provided that the Class A Common Stock issuable upon conversion of such Class B Common Stock and underlying Class B Common Stock Equivalents
are Registrable Securities for all purposes hereunder as though, in each case, such shares of Class A Common Stock were outstanding on the date hereof. For purposes of this Agreement, a Person will be deemed to be a holder of Registrable
Securities whenever such Person has the right to acquire, directly or indirectly, such Registrable Securities (including upon conversion, exercise or exchange of any equity interests but disregarding any restrictions or limitations upon the exercise
of such right), whether or not such acquisition has actually been effected, and such Person shall not be required to convert, exercise or exchange such equity interests (or otherwise acquire such Registrable Securities) to participate in any
registered offering hereunder until the closing of such offering. As to any particular Registrable Securities, such securities shall cease to be Registrable Securities when (A) a registration statement with respect to the sale of such
securities shall have been declared effective under the Securities Act and such securities shall have been disposed of in accordance with such registration statement, (B) such securities shall have been disposed of in compliance with the
requirements of Rule 144, (C) such securities have been sold in a public offering of securities or (D) such securities have ceased to be outstanding. 

“Rule 144” have the meaning ascribed to such term in Section 4.2. 

“SEC” means the U.S. Securities and Exchange Commission or such other federal agency which at such time administers the
Securities Act. 
 “Section 2.3(a) Sale Number” has the meaning ascribed to such term in
Section 2.3(a). 
 “Section 2.3(b) Sale Number” has the meaning ascribed to
such term in Section 2.3(b). 
 “Section 2.3(c) Sale Number” has the meaning
ascribed to such term in Section 2.3(c). 
 “Securities Act” means the Securities Act of 1933, as
amended, and the rules and regulations of the SEC issued under such Act, as they may from time to time be in effect. 
 “Shelf
Registrable Securities” has the meaning ascribed to such term in Section 2.1(a)(ii). 
 “Shelf
Registration Statement” has the meaning ascribed to such term in Section 2.1(a)(i). 
 “Shelf
Underwriting” has the meaning ascribed to such term in Section 2.1(a)(ii). 
 “Shelf Underwriting
Initiating Holders” has the meaning ascribed to such term in Section 2.1(a)(ii). 
 “Shelf Underwriting
Notice” has the meaning ascribed to such term in Section 2.1(a)(ii). 
 “Shelf Underwriting
Request” has the meaning ascribed to such term in Section 2.1(a)(ii). 

  
 5 

 “Subsidiary” means any direct or indirect subsidiary of the Company on the
date hereof and any direct or indirect subsidiary of the Company organized or acquired after the date hereof. 
 “Underwritten Block
Trade” has the meaning ascribed to such term in Section 2.1(a)(ii). 
 “Valid Business
Reason” has the meaning ascribed to such term in Section 2.1(c). 
 “WKSI” means a
“well-known seasoned issuer” (as defined in Rule 405 of the Securities Act). 
 Section 2. Registration Rights. 

2.1. Demand Registrations. 

(a) (i) As soon as practicable but no later than thirty (30) calendar days following the closing of the Merger (the “Filing
Date”), the Company shall prepare and file with the SEC a shelf registration statement under Rule 415 of the Securities Act (such registration statement, a “Shelf Registration Statement”) covering the resale of all the
Registrable Securities (determined as of two business days prior to such filing) on a delayed or continuous basis and shall use its commercially reasonable efforts to have such Shelf Registration Statement declared effective as soon as practicable
after the filing thereof and no later than the earlier of (x) the ninetieth (90th) calendar day following the Filing Date if the Commission notifies the Company that it will “review” the Shelf Registration Statement and (y) the
tenth (10th) business day after the date the Company is notified in writing by the SEC that such Shelf Registration Statement will not be “reviewed” or will not be subject to further review. Such Shelf Registration Statement shall provide
for the resale of the Registrable Securities included therein pursuant to any method or combination of methods legally available to, and requested by, any Holder named therein. The Company shall maintain the Shelf Registration Statement in
accordance with the terms hereof, and shall prepare and file with the SEC such amendments, including post-effective amendments, and supplements as may be necessary to keep a Shelf Registration Statement continuously effective, available for use to
permit all Holders named therein to sell their Registrable Securities included therein and in compliance with the provisions of the Securities Act until such time as there are no longer any Registrable Securities. In the event the Company files a
Shelf Registration Statement on Form S-1, the Company shall use its commercially reasonable efforts to convert such Shelf Registration Statement to a Shelf Registration Statement on Form S-3 as soon as practicable after the Company is eligible to use Form S-3. 

(ii) Subject to Section 2.1(c) and the provisions below with respect to the Minimum Threshold, following the
expiration of any applicable lock-up agreement, each Holder (or Holders) shall have the right at any time and from time to time to elect to sell all or any part of its Registrable Securities pursuant to an
underwritten offering pursuant to the Shelf Registration Statement by delivering a written request therefor to the Company specifying the number of Registrable Securities to be included in such registration and the intended method of distribution
thereof. The Holder or Holders shall make such election by delivering to the Company a written request (a “Shelf Underwriting Request”) for such underwritten offering specifying the number of Registrable Securities that the Holder
or Holders desire to sell pursuant to such underwritten offering (the “Shelf Underwriting”). With respect to any Shelf Underwriting Request, 

  
 6 

 the Holder or Holders making such demand shall be referred to as the “Shelf Underwriting
Initiating Holders”. As promptly as practicable, but no later than two (2) Business Days after receipt of a Shelf Underwriting Request, the Company shall give written notice (the “Shelf Underwriting Notice”)
of such Shelf Underwriting Request to the Holders of record of other Registrable Securities registered on such Shelf Registration Statement (“Shelf Registrable Securities”). The Company, subject to Sections 2.3 and
2.6, shall include in such Shelf Underwriting (x) the Registrable Securities of the Shelf Underwriting Initiating Holders and (y) the Shelf Registrable Securities of any other Holder of Shelf Registrable Securities which shall have made
a written request to the Company for inclusion in such Shelf Underwriting (which request shall specify the maximum number of Shelf Registrable Securities intended to be disposed of by such Holder) within five (5) days after the receipt of the
Shelf Underwriting Notice. The Company shall, as expeditiously as possible (and in any event within fifteen (15) Business Days after the receipt of a Shelf Underwriting Request), but subject to Section 2.1(b), use its
reasonable best efforts to effect such Shelf Underwriting. The Company shall, at the request of any Shelf Underwriting Initiating Holder or any other Holder of Registrable Securities registered on such Shelf Registration Statement, file any
prospectus supplement or, if the applicable Shelf Registration Statement is an automatic shelf registration statement, any post-effective amendments and otherwise take any action necessary to include therein all disclosure and language deemed
necessary or advisable by the Shelf Underwriting Initiating Holders or any other Holder of Shelf Registrable Securities to effect such Shelf Underwriting. Notwithstanding anything to the contrary in this Section 2.1(a)(ii),
each Shelf Underwriting must include, in the aggregate, Registrable Securities having an aggregate market value of at least the Minimum Threshold (based on the Registrable Securities included in such Shelf Underwriting by all Participating Holders).
In connection with any Shelf Underwriting (including an Underwritten Block Trade), the Company shall have the right to designate the Manager and each other managing underwriter in connection with any such Shelf Underwriting or Underwritten Block
Trade, subject to Shelf Underwriting Initiating Holders’ reasonable approval. Notwithstanding the foregoing, if a Shelf Underwriting Initiating Holder wishes to engage in an underwritten block trade or similar transaction or other transaction
with a 2-day or less marketing period (collectively, “Underwritten Block Trade”) off of a Shelf Registration Statement, then notwithstanding the foregoing time periods, such Shelf Underwriting
Initiating Holder only needs to notify the Company of the Underwritten Block Trade two (2) Business Days prior to the day such offering is to commence and the Holders of record of other Registrable Securities shall not be entitled to notice of
such Underwritten Block Trade and shall not be entitled to participate in such Underwritten Block Trade. 
 (b) (i) At any time after the
first anniversary of the Closing Date that a Shelf Registration Statement as required by Section 2.1(a) is not available for use by the Holders (a “Demand Registration Period”)
other than pursuant to Section 2.1(c), subject to this Section 2.1(b) and Sections 2.1(c) and 2.3) and the provisions below with respect to the Minimum Threshold, at any
time and from time to time during such Demand Registration Period, each Initiating Holder (or Initiating Holders) shall have the right to require the Company to effect one or more registration statements under the Securities Act covering all or any
part of its Registrable Securities by delivering a written request therefor to the Company specifying the number of Registrable Securities to be included in such registration and the intended method of distribution thereof. Any such request by any
Initiating Holder or Initiating Holders pursuant to this Section 2.1(b)(i) is referred to herein as a “Demand Registration Request,” and the registration so requested is referred
to herein as a “Demand Registration”. Subject to Section 2.1(c), the Initiating 

  
 7 

 Holders shall be entitled to request (and the Company shall be required to effect) an unlimited number of
Demand Registrations. The Company shall give written notice (the “Demand Exercise Notice”) of such Demand Registration Request to each of the Holders of record of Registrable Securities in accordance with
Section 2.2, and, subject to Sections 2.3 and 2.6, shall include in a Demand Registration (x) the Registrable Securities of the Initiating Holders and (y) the Registrable Securities of any other
Holder of Registrable Securities which shall have made a written request to the Company for inclusion in such registration pursuant to Section 2.2. Notwithstanding anything to the contrary in this
Section 2.1(b)(i), each Demand Registration must include, in the aggregate, Registrable Securities having an aggregate market value of at least the Minimum Threshold (based on the Registrable Securities included in such
Demand Registration by all Holders participating in such Demand Registration). In connection with any Demand Registration, the Company shall have the right to designate the Manager and each other managing underwriter in connection with any
underwritten offering pursuant to such registration, subject to the Initiating Holders’ reasonable approval; provided that in each case, each such underwriter is reasonably satisfactory to the Company, which approval shall not be
unreasonably withheld or delayed. 
 (ii) The Company shall, as expeditiously as possible, but subject to
Section 2.1(c), use its reasonable best efforts to (x) file or confidentially submit with the SEC (no later than (A) sixty (60) days from the Company’s receipt of the applicable Demand Registration Request if
the Demand Registration is on Form S-1 or similar long-form registration and or (B) thirty (30) days from the Company’s receipt of the applicable Demand Registration Request if the Demand
Registration is on Form S-3 or any similar short-form registration), (y) cause to be declared effective as soon as reasonably practicable such registration statement under the Securities Act that includes the
Registrable Securities which the Company has been so requested to register for distribution in accordance with the intended method of distribution, and (z) if requested by the Initiating Holders, obtain acceleration of the effective date of the
registration statement relating to such registration. 
 (c) Notwithstanding anything to the contrary in
Section 2.1(a) or Section 2.1(b), the Shelf Underwriting and Demand Registration rights granted in Section 2.1 (a) and Section 2.1(b) are subject to the
following limitations: (i) the Company shall not be required to cause a registration statement filed pursuant to Section 2.1(b) to be declared effective within a period of ninety (90) days after the effective date
of any other registration statement of the Company filed pursuant to the Securities Act (other than a Form S-4, Form S-8 or a comparable form or an equivalent
registration form then in effect); (ii) the Company shall not be required to effect more than three (3) Demand Registrations on Form S-1 or any similar long-form registration statement at the request of
the Holders in the aggregate; (iii) if the Board, in its good faith judgment, determines that any registration of Registrable Securities or Shelf Underwriting should not be made or continued because it would materially and adversely interfere
with any existing or potential financing, acquisition, corporate reorganization, merger, share exchange or other transaction or event involving the Company or any of its subsidiaries or would otherwise result in the public disclosure of information
that the Board in good faith has a bona fide business purpose for keeping confidential (a “Valid Business Reason”), then (x) the Company may postpone filing or confidentially submitting a registration statement relating to a
Demand Registration Request or a prospectus supplement relating to a Shelf Underwriting Request until five (5) Business Days after such Valid Business Reason no longer exists, but in no event for more than forty-five (45) days after the
date the Board determines a Valid Business Reason exists or (y) if a registration 

  
 8 

 statement has been filed or confidentially submitted relating to a Demand Registration Request or a
prospectus supplement has been filed relating to a Shelf Underwriting Request, the Company may, to the extent determined in the good faith judgment of the Board to be reasonably necessary to avoid interference with any of the transactions described
above, suspend use of or, if required by the SEC, cause such registration statement to be withdrawn and its effectiveness terminated or may postpone amending or supplementing such registration statement until five (5) Business Days after such
Valid Business Reason no longer exists, but in no event for more than forty-five (45) days after the date the Board determines a Valid Business Reason exists (such period of postponement or withdrawal under this clause (iv), the
“Postponement Period”). The Company shall give written notice to the Initiating Holders or Shelf Underwriting Initiating Holders and any other Holders that have requested registration pursuant to
Section 2.2 of its determination to postpone or suspend use of or withdraw a registration statement and of the fact that the Valid Business Reason for such postponement or suspension or withdrawal no longer exists, in each
case, promptly after the occurrence thereof; provided, however, that the Company shall not be entitled to more than two (2) Postponement Periods during any twelve (12) month period. 

Each Holder of Registrable Securities agrees that, upon receipt of any notice from the Company that the Company has determined to suspend use
of, withdraw, terminate or postpone amending or supplementing any registration statement pursuant to clause (c)(iii) above, such Holder will discontinue its disposition of Registrable Securities pursuant to such registration statement. If the
Company shall have suspended use of, withdrawn or terminated a registration statement filed under Section 2.1(b)(i) (whether pursuant to clause (c)(iii) above or as a result of any stop order, injunction or other order or
requirement of the SEC or any other governmental agency or court), the Company shall not be considered to have effected a Demand Registration for the purposes of this Agreement and such request shall not count as a Demand Registration Request under
this Agreement until the Company shall have permitted use of such suspended registration statement or filed a new registration statement covering the Registrable Securities covered by the withdrawn or terminated registration statement and such
registration statement shall have been declared effective and shall not have been withdrawn. If the Company shall give any notice of suspension, withdrawal or postponement of a registration statement, the Company shall, not later than five
(5) Business Days after the Valid Business Reason that caused such suspension, withdrawal or postponement no longer exists (but, with respect to a suspension, withdrawal or postponement pursuant to clause (c)(iii) above, in no event later than
forty-five (45) days after the date of the suspension, postponement or withdrawal), as applicable, permit use of such suspended registration statement or use its reasonable best efforts to effect the registration under the Securities Act of the
Registrable Securities covered by the withdrawn or postponed registration statement in accordance with this Section 2.1 (unless the Initiating Holders or Shelf Underwriting Initiating Holders shall have withdrawn such
request, in which case the Company shall not be considered to have effected a Demand Registration for the purposes of this Agreement and such request shall not count as a Demand Registration Request under this Agreement), and following such
permission or such effectiveness such registration shall no longer be deemed to be suspended, withdrawn or postponed pursuant to clause (iv) of Section 2.1(c) above. 

  
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 (d) No Demand Registration shall be deemed to have occurred for purposes of
Section 2.1(b) (i) if the registration statement relating thereto (x) does not become effective, (y) is not maintained effective for a period of at least one hundred eighty (180) days after the effective
date thereof or such shorter period during which all Registrable Securities included in such Registration Statement have actually been sold (provided, however, that such period shall be extended for a period of time equal to the period
any Holder of Registrable Securities refrains from selling any securities included in such Registration Statement at the request of the Company or an underwriter of the Company), or (z) is subject to a stop order, injunction, or similar order
or requirement of the SEC during such period, (ii) for each Initiating Holder, if less than seventy five percent (75%) of the Registrable Securities requested by such Initiating Holder to be included in such Demand Registration are not so
included pursuant to Section 2.3, (iii) if the method of disposition is a firm commitment underwritten public offering and less than seventy five percent (75%) of the applicable Registrable Securities have not been sold
pursuant thereto (excluding any Registrable Securities included for sale in the underwriters’ overallotment option) or (iv) if the conditions to closing specified in any underwriting agreement, purchase agreement or similar agreement
entered into in connection with the registration relating to such request are not satisfied (other than as a result of a default or breach thereunder by such Initiating Holder(s) or its Affiliates or are otherwise waived by such Initiating
Holder(s)). 
 (e) Any Initiating Holder may withdraw or revoke a Demand Registration Request delivered by such Initiating Holder at any time
prior to the effectiveness of such Demand Registration by giving written notice to the Company of such withdrawal or revocation and such Demand Registration shall have no further force or effect and such request shall not count as a Demand
Registration Request under this Agreement. 
 2.2. Piggyback Registrations. 

(a) If the Company proposes or is required to register any of its equity securities for its own account or for the account of any other
shareholder under the Securities Act (other than pursuant to registrations on Form S-4 or Form S-8 or any similar successor forms thereto), the Company shall give
written notice (the “Piggyback Notice”) of its intention to do so to each of the Holders of record of Registrable Securities, at least five (5) Business Days prior to the filing of any registration statement under the
Securities Act. Notwithstanding the foregoing, the Company may delay any Piggyback Notice until after filing a registration statement, so long as all recipients of such notice have the same amount of time to determine whether to participate in an
offering as they would have had if such notice had not been so delayed. Upon the written request of any such Holder, made within five (5) days following the receipt of any such Piggyback Notice (which request shall specify the maximum number of
Registrable Securities intended to be disposed of by such Holder and the intended method of distribution thereof), the Company shall, subject to Sections 2.2(c), 2.3 and 2.6 hereof, use its reasonable best efforts
to cause all such Registrable Securities, the Holders of which have so requested the registration thereof, to be registered under the Securities Act with the securities which the Company at the time proposes to register to permit the sale or other
disposition by the Holders (in accordance with the intended method of distribution thereof) of the Registrable Securities to be so registered, including, if necessary, by filing with the SEC a post-effective amendment or a supplement to the
registration statement filed by the Company or the prospectus related thereto. There is no limitation on the number of such piggyback registrations which the Company is obligated to effect pursuant to the preceding sentence. No registration of
Registrable Securities effected under this Section 2.2(a) shall relieve the Company of its obligations to effect Demand Registrations under Section 2.1 hereof. For the avoidance of doubt, this
Section 2.2 shall not apply to any Underwritten Block Trade. 

  
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 (b) Other than in connection with a Demand Registration or a Shelf Underwriting, at any time
after giving a Piggyback Notice and prior to the effective date of the registration statement filed in connection with such registration, if the Company shall determine for any reason not to register or to delay registration of such equity
securities, the Company may, at its election, give written notice of such determination to all Holders of record of Registrable Securities and (x) in the case of a determination not to register, shall be relieved of its obligation to register
any Registrable Securities in connection with such abandoned registration, without prejudice, however, to the rights of Holders under Section 2.1, and (y) in the case of a determination to delay such registration of
its equity securities, shall be permitted to delay the registration of such Registrable Securities for the same period as the delay in registering such other equity securities. 

(c) Any Holder shall have the right to withdraw its request for inclusion of its Registrable Securities in any registration statement pursuant
to this Section 2.2 by giving written notice to the Company of its request to withdraw; provided, however, that such request must be made in writing prior to the earlier of the execution by such Holder of the
underwriting agreement or the execution by such Holder of the custody agreement with respect to such registration or as otherwise required by the underwriters. 

2.3. Allocation of Securities Included in Registration Statement. 

(a) If any requested registration or offering made pursuant to Section 2.1 (including a Shelf Underwriting) involves
an underwritten offering and the Manager of such offering shall advise the Company in good faith that, in its view, the number of securities requested to be included in such underwritten offering by the Holders of Registrable Securities, the Company
or any other Persons exercising contractual registration rights (“Additional Piggyback Rights”) exceeds the largest number of securities (the “Section 2.3(a) Sale
Number”) that can be sold in an orderly manner in such underwritten offering within a price range acceptable to the Initiating Holders and the Majority Participating Holders, the Company shall include in such underwritten offering:

 (i) first, all Registrable Securities requested to be included in such underwritten offering by the Holders thereof (including pursuant
to the exercise of piggyback rights pursuant to Section 2.2); provided, however, that if the number of such Registrable Securities exceeds the Section 2.3(a) Sale Number, the number of such Registrable
Securities (not to exceed the Section 2.3(a) Sale Number) to be included in such underwritten offering shall be allocated on a pro rata basis among all Holders (including each Initiating Holder) requesting that Registrable Securities be
included in such underwritten offering (including pursuant to the exercise of piggyback rights pursuant to Section 2.2), based on the number of Registrable Securities then owned by each such Holder requesting inclusion in
relation to the aggregate number of Registrable Securities owned by all Holders requesting inclusion; and 

  
 11 

 (ii) second, to the extent that the number of Registrable Securities to be included
pursuant to clause (i) of this Section 2.3(a) is less than the Section 2.3(a) Sale Number, any securities that the Company proposes to register for its own account, up to the Section 2.3(a) Sale Number; and
(iii) third, to the extent that the number of securities to be included pursuant to clauses (i) and (ii) of this Section 2.3(a) is less than the Section 2.3(a) Sale Number, the remaining securities to be
included in such underwritten offering shall be allocated on a pro rata basis among all Persons other than Holders requesting that securities be included in such underwritten offering pursuant to the exercise of Additional Piggyback Rights
(“Piggyback Shares”), based on the aggregate number of Piggyback Shares then owned by each Person requesting inclusion in relation to the aggregate number of Piggyback Shares owned by all Persons requesting inclusion, up to the
Section 2.3(a) Sale Number. 
 (b) If any registration or offering made pursuant to Section 2.2 involves an
underwritten primary offering on behalf of the Company and the Manager shall advise the Company that, in its view, the number of securities requested to be included in such underwritten offering by the Holders of Registrable Securities, the Company
or any other Persons exercising Additional Piggyback Rights exceeds the largest number of securities (the “Section 2.3(b) Sale Number”) that can be sold in an orderly manner in such underwritten offering
within a price range acceptable to the Company, the Company shall include in such underwritten offering: 
 (i) first, all equity securities
that the Company proposes to register for its own account; and 
 (ii) second, to the extent that the number of securities to be included
pursuant to clause (i) of this Section 2.3(b) is less than the Section 2.3(b) Sale Number, the remaining Registrable Securities to be included in such underwritten offering shall be allocated on a pro rata basis
among all Holders requesting that Registrable Securities be included in such underwritten offering pursuant to the exercise of piggyback rights pursuant to Section 2.2(a), based on the aggregate number of Registrable
Securities then owned by each such Holder requesting inclusion in relation to the aggregate number of Registrable Securities owned by all Holders requesting inclusion, up to the Section 2.3(b) Sale Number; and (iii) third, to the extent
that the number of securities to be included pursuant to clauses (i) and (ii) of this Section 2.3(b) is less than the Section 2.3(b) Sale Number, the remaining securities to be included in such underwritten
offering shall be allocated on a pro rata basis among all Persons requesting that Piggyback Shares be included in such underwritten offering pursuant to the exercise of Additional Piggyback Rights, based on the aggregate number of Piggyback Shares
then owned by each Person requesting inclusion in relation to the aggregate number of Piggyback Shares owned by all Persons requesting inclusion, up to the Section 2.3(b) Sale Number. 

(c) If any registration pursuant to Section 2.2 involves an underwritten offering that was initially requested by any
Person(s) (other than a Holder) to whom the Company has granted registration rights which are not inconsistent with the rights granted in, and do not otherwise conflict with the terms of, this Agreement and the Manager shall advise the Company that,
in its view, the number of securities requested to be included in such underwritten offering exceeds the largest number of securities (the “Section 2.3(c) Sale Number”) that can be sold
in an orderly manner in such underwritten offering within a price range acceptable to the Company, the Company shall include in such underwritten offering: 

  
 12 

 (i) first, the shares requested to be included in such underwritten offering shall be
allocated on a pro rata basis among such Person(s) requesting the registration and all Holders requesting that Registrable Securities be included in such underwritten offering pursuant to the exercise of piggyback rights pursuant to
Section 2.2(a), based on the aggregate number of securities or Registrable Securities, as applicable, then owned by each of the foregoing requesting inclusion in relation to the aggregate number of securities or Registrable
Securities, as applicable, owned by all such Persons and Holders requesting inclusion, up to the Section 2.3(c) Sale Number; and 

(ii) second, to the extent that the number of securities to be included pursuant to clause (i) of this
Section 2.3(c) is less than the Section 2.3(c) Sale Number, the remaining securities to be included in such underwritten offering shall be allocated on a pro rata basis among all Persons requesting that Piggyback
Shares be included in such underwritten offering pursuant to the exercise of Additional Piggyback Rights, based on the aggregate number of Piggyback Shares then owned by each Person requesting inclusion in relation to the aggregate number of
Piggyback Shares owned by all Persons requesting inclusion, up to the Section 2.3(c) Sale Number; and (iii) third, to the extent that the number of securities to be included pursuant to clauses (i) and (ii) of this
Section 2.3(c) is less than the Section 2.3(c) Sale Number, any equity securities that the Company proposes to register for its own account, up to the Section 2.3(c) Sale Number. 

(d) If, as a result of the proration provisions set forth in clauses (a), (b) or (c) of this
Section 2.3, any Holder shall not be entitled to include all Registrable Securities in an underwritten offering that such Holder has requested be included, such Holder may elect to withdraw such Holder’s request to
include Registrable Securities in the registration to which such underwritten offering relates or may reduce the number requested to be included; provided, however, that (x) such request must be made in writing prior to the
earlier of such Holder’s execution of the underwriting agreement or such Holder’s execution of the custody agreement with respect to such registration and (y) such withdrawal or reduction shall be irrevocable and, after making such
withdrawal or reduction, such Holder shall no longer have any right to include Registrable Securities in the registration as to which such withdrawal or reduction was made to the extent of the Registrable Securities so withdrawn or reduced. 

2.4. Registration Procedures. If and whenever the Company is required by the provisions of this Agreement to effect or cause the
registration of and/or participate in any offering or sale of any Registrable Securities under the Securities Act as provided in this Agreement (or use reasonable best efforts to accomplish the same), the Company shall, as expeditiously as possible:

 (a) prepare and file all filings with the SEC and FINRA as soon as practicable required for the consummation of the offering, including
preparing and filing with the SEC a registration statement on an appropriate registration form of the SEC for the disposition of such Registrable Securities in accordance with the intended method of disposition thereof, which registration form
(i) shall be selected by the Company (except as provided for in a Demand Registration Request) and (ii) shall, in the case of a shelf registration, be available for the sale of the Registrable Securities by the selling Holders thereof and
such registration statement shall comply as to form in all material respects with the requirements of the applicable registration form 

  
 13 

 and include all financial statements required by the SEC to be filed therewith, and the Company shall use
its reasonable best efforts to cause such registration statement to become effective and remain continuously effective for such period as required by this Agreement (provided, however, that as far in advance as reasonably practicable
before filing a registration statement or prospectus or any amendments or supplements thereto, or comparable statements under securities or state “blue sky” laws of any jurisdiction, or any free writing prospectus related thereto, the
Company will furnish to the Holders participating in the planned offering and to the Manager, if any, copies of all such documents proposed to be filed (including all exhibits thereto), which documents will be subject to their reasonable review and
reasonable comment and the Company shall not file any registration statement or amendment thereto, any prospectus or supplement thereto or any free writing prospectus related thereto to which the Initiating Holders, the Majority Participating
Holders or the underwriters, if any, shall reasonably object); provided, however, that, notwithstanding the foregoing, in no event shall the Company be required to file any document with the SEC which in the view of the Company or its
counsel contains an untrue statement of a material fact or omits to state a material fact required to be stated therein or necessary to make any statement therein not misleading; 

(b) (i) prepare and file with the SEC such amendments and supplements to such registration statement and the prospectus used in connection
therewith and such free writing prospectuses and Exchange Act reports as may be necessary to keep such registration statement continuously effective for such period as required by this Agreement and to comply with the provisions of the Securities
Act with respect to the sale or other disposition of all Registrable Securities covered by such registration statement, and any prospectus so supplemented to be filed pursuant to Rule 424 under the Securities Act, in accordance with the intended
methods of disposition by the seller or sellers thereof set forth in such registration statement and (ii) provide notice to such sellers of Registrable Securities and the Manager, if any, of the Company’s reasonable determination that a
post-effective amendment to a registration statement would be appropriate; 
 (c) furnish, without charge, to each Participating Holder and
each underwriter, if any, of the securities covered by such registration statement such number of copies of such registration statement, each amendment and supplement thereto (in each case including all exhibits), the prospectus included in such
registration statement (including each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act, each free writing prospectus utilized in connection therewith, in each case, in
conformity with the requirements of the Securities Act, and other documents, as such seller and underwriter may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such seller (the
Company hereby consenting to the use in accordance with all applicable laws of each such registration statement (or amendment or post-effective amendment thereto) and each such prospectus (or preliminary prospectus or supplement thereto) or free
writing prospectus by each such Participating Holder and the underwriters, if any, in connection with the offering and sale of the Registrable Securities covered by such registration statement or prospectus); 

  
 14 

 (d) use its reasonable best efforts to register or qualify the Registrable Securities
covered by such registration statement under such other securities or state “blue sky” laws of such jurisdictions as any sellers of Registrable Securities or any managing underwriter, if any, shall reasonably request in writing, and do any
and all other acts and things which may be reasonably necessary or advisable to enable such sellers or underwriter, if any, to consummate the disposition of the Registrable Securities in such jurisdictions (including keeping such registration or
qualification in effect for so long as such registration statement remains in effect), except that in no event shall the Company be required to qualify to do business as a foreign corporation in any jurisdiction where it would not, but for the
requirements of this paragraph (d), be required to be so qualified, to subject itself to taxation in any such jurisdiction or to consent to general service of process in any such jurisdiction; 

(e) promptly notify each Participating Holder and each managing underwriter, if any: (i) when the registration statement, any pre-effective amendment, the prospectus or any prospectus supplement related thereto, any post-effective amendment to the registration statement or any free writing prospectus has been filed with the SEC and, with
respect to the registration statement or any post-effective amendment, when the same has become effective; (ii) of any request by the SEC or state securities authority for amendments or supplements to the registration statement or the
prospectus related thereto or for additional information; (iii) of the issuance by the SEC of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings for that purpose; (iv) of the
receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or state “blue sky” laws of any jurisdiction or the initiation of any proceeding for
such purpose; (v) of the existence of any fact of which the Company becomes aware which results in the registration statement or any amendment thereto, the prospectus related thereto or any supplement thereto, any document incorporated therein
by reference, any free writing prospectus or the information conveyed at the time of sale to any purchaser containing an untrue statement of a material fact or omitting to state a material fact required to be stated therein or necessary to make any
statement therein not misleading; and (vi) if at any time the representations and warranties contemplated by any underwriting agreement, securities sale agreement, or other similar agreement, relating to the offering shall cease to be true and
correct in all material respects (unless otherwise qualified by materiality in which case such representations and warranties shall cease to be true and correct in all respects); and, if the notification relates to an event described in clause (v),
unless the Company has declared that a Postponement Period exists, the Company shall promptly prepare and furnish to each such seller and each underwriter, if any, a reasonable number of copies of a prospectus supplemented or amended so that, as
thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements
therein in the light of the circumstances under which they were made not misleading; 
 (f) comply (and continue to comply) with all
applicable rules and regulations of the SEC (including maintaining disclosure controls and procedures (as defined in Exchange Act Rule 13a-15(e)) and internal control over financial reporting (as defined in
Exchange Act Rule 13a-15(f)) in accordance with the Exchange Act), and make generally available to its security holders (including by way of filings with the SEC), as soon as reasonably practicable after the
effective date of the registration statement (and in any event within forty-five (45) days, or ninety (90) days if it is a fiscal year, after the end of such twelve month period described hereafter), an earnings statement (which need not be
audited) covering the period of at least twelve (12) consecutive months beginning with the first day of the Company’s first calendar quarter after the effective date of the registration statement, which earnings statement shall satisfy the
provisions of Section 11(a) of the Securities Act and Rule 158 thereunder; 

  
 15 

 (g) (i) (A) use its reasonable best efforts to cause all such Registrable Securities
covered by such registration statement to be listed on the principal securities exchange on which similar securities issued by the Company are then listed, if the listing of such Registrable Securities is then permitted under the rules of such
exchange, or (B) if no similar securities are then so listed, use its reasonable best efforts to either cause all such Registrable Securities to be listed on a national securities exchange or to secure designation of all such Registrable
Securities as a New York Stock Exchange “national market system security” within the meaning of Rule 11Aa2-1 of the Exchange Act or, failing that, secure New York Stock Exchange authorization for
such shares and, without limiting the generality of the foregoing, take all actions that may be required by the Company as the issuer of such Registrable Securities in order to facilitate the managing underwriter’s arranging for the
registration of at least two market makers as such with respect to such shares with FINRA, and (ii) comply (and continue to comply) with the requirements of any self-regulatory organization applicable to the Company, including all corporate
governance requirements; 
 (h) cause its senior management, officers and employees to participate in, and to otherwise facilitate and
cooperate with the preparation of the registration statement and prospectus and any amendments or supplements thereto (including participating in meetings, drafting sessions, due diligence sessions and rating agency presentations) taking into
account the Company’s reasonable business needs; 
 (i) provide and cause to be maintained a transfer agent and registrar for all such
Registrable Securities covered by such registration statement not later than the effective date of such registration statement and, in the case of any secondary equity offering, provide and enter into any reasonable agreements with a custodian for
the Registrable Securities; 
 (j) enter into such customary agreements (including, if applicable, an underwriting agreement) and take such
other actions as the Initiating Holder or the Majority Participating Holders or the underwriters shall reasonably request in order to expedite or facilitate the disposition of such Registrable Securities (it being understood that the Holders of the
Registrable Securities which are to be distributed by any underwriters shall be parties to any such underwriting agreement and may, at their option, require that the Company make for the benefit of such Holders the representations, warranties and
covenants of the Company which are being made to and for the benefit of such underwriters); 
 (k) use its reasonable best efforts
(i) to obtain opinions from the Company’s counsel, including local and/or regulatory counsel, and a “comfort” letter and updates thereof from the independent public accountants who have certified the financial statements of the
Company (and/or any other financial statements) included or incorporated by reference in such registration statement, in each case, in customary form and covering such matters as are customarily covered by such opinions and “comfort”
letters (including, in the case of such “comfort” letter, events subsequent to the date of such financial statements) delivered to underwriters in underwritten public offerings, which opinions and letters shall be dated the dates such
opinions and “comfort” letters are customarily dated and otherwise reasonably satisfactory to the underwriters, if any, and (ii) furnish to each Participating Holder and to each underwriter, if any, a copy of such opinions and letters
addressed to such underwriter; 

  
 16 

 (l) deliver promptly to counsel for the Majority Participating Holders and to each managing
underwriter, if any, copies of all correspondence between the SEC and the Company, its counsel or auditors and all memoranda relating to discussions with the SEC or its staff with respect to the registration statement, and, upon receipt of such
confidentiality agreements as the Company may reasonably request, make reasonably available for inspection by counsel for the Majority Participating Holders, by counsel for any underwriter participating in any disposition to be effected pursuant to
such registration statement and by any attorney, accountant or other agent retained by the Majority Participating Holders or any such underwriter, during regular business hours, all pertinent financial and other records, pertinent corporate
documents and properties of the Company, and cause all of the Company’s officers, directors and employees to supply all information reasonably requested by any such counsel for the Majority Participating Holders, counsel for an underwriter,
attorney, accountant or agent in connection with such registration statement; 
 (m) use its reasonable best efforts to prevent the issuance
or obtain the prompt withdrawal of any order suspending the effectiveness of the registration statement, or the prompt lifting of any suspension of the qualification of any of the Registrable Securities for sale in any jurisdiction, in each case, as
promptly as reasonably practicable; 
 (n) provide a CUSIP number for all Registrable Securities, not later than the effective date of the
registration statement; 
 (o) use its reasonable best efforts to make available its senior management for participation in “road
shows” and other marketing efforts and otherwise provide reasonable assistance to the underwriters (taking into account the Company’s reasonable business needs and the requirements of the marketing process) in the marketing of Registrable
Securities in any underwritten offering; 
 (p) promptly prior to the filing of any document which is to be incorporated by reference into
the registration statement or the prospectus (after the initial filing or confidential submission of such registration statement), and prior to the filing or use of any free writing prospectus, provide copies of such document to counsel for the
Majority Participating Holders and to each managing underwriter, if any, and make the Company’s representatives reasonably available for discussion of such document and make such changes in such document concerning the information regarding the
Participating Holders contained therein prior to the filing thereof as counsel for the Majority Participating Holders or underwriters may reasonably request (provided, however, that, notwithstanding the foregoing, in no event shall the
Company be required to file or confidentially submit any document with the SEC which in the view of the Company or its counsel contains an untrue statement of a material fact or omits to state a material fact required to be stated therein or
necessary to make any statement therein not misleading); 

  
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 (q) furnish to counsel for the Majority Participating Holders and to each managing
underwriter, without charge, upon request, at least one conformed copy of the registration statement and any post-effective amendments or supplements thereto, including financial statements and schedules, all documents incorporated therein by
reference, the prospectus contained in such registration statement (including each preliminary prospectus and any summary prospectus), any other prospectus and prospectus supplement filed under Rule 424 under the Securities Act and all exhibits
(including those incorporated by reference) and any free writing prospectus utilized in connection therewith; 
 (r) cooperate with the
Participating Holders and the managing underwriter, if any, to facilitate the timely preparation and delivery of certificates not bearing any restrictive legends representing the Registrable Securities to be sold, and cause such Registrable
Securities to be issued in such denominations and registered in such names in accordance with the underwriting agreement at least two (2) Business Days prior to any sale of Registrable Securities to the underwriters or, if not an underwritten
offering, in accordance with the instructions of the Participating Holders at least two (2) Business Days prior to any sale of Registrable Securities and instruct any transfer agent and registrar of Registrable Securities to release any stop
transfer orders in respect thereof (and, in the case of Registrable Securities registered on a Shelf Registration Statement, at the request of any Holder, prepare and deliver certificates representing such Registrable Securities not bearing any
restrictive legends and deliver or cause to be delivered an opinion or instructions to the transfer agent in order to allow such Registrable Securities to be sold from time to time); 

(s) include in any prospectus or prospectus supplement if requested by any managing underwriter updated financial or business information for
the Company’s most recent period or current quarterly period (including estimated results or ranges of results) if required for purposes of marketing the offering in the view of the managing underwriter; 

(t) take no direct or indirect action prohibited by Regulation M under the Exchange Act; provided, however, that to the extent
that any prohibition is applicable to the Company, the Company will use its reasonable best efforts to make any such prohibition inapplicable; 

(u) use its reasonable best efforts to cause the Registrable Securities covered by the applicable registration statement to be registered with
or approved by such other governmental agencies or authorities as may be necessary to enable the Participating Holders or the underwriters, if any, to consummate the disposition of such Registrable Securities; 

(v) take all such other commercially reasonable actions as are necessary or advisable in order to expedite or facilitate the disposition of
such Registrable Securities; 
 (w) take all reasonable action to ensure that any free writing prospectus utilized in connection with any
registration covered by Section 2.1 or 2.2 complies in all material respects with the Securities Act, is filed in accordance with the Securities Act to the extent required thereby, is retained in accordance with the
Securities Act to the extent required thereby and, when taken together with the related prospectus, prospectus supplement and related documents, will not contain any untrue statement of a material fact or omit to state a material fact necessary to
make the statements therein, in the light of the circumstances under which they were made, not misleading; 

  
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 (x) in connection with any underwritten offering, if at any time the information conveyed
to a purchaser at the time of sale includes any untrue statement of a material fact or omits to state any material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading,
promptly file with the SEC such amendments or supplements to such information as may be necessary so that the statements as so amended or supplemented will not, in the light of the circumstances, be misleading; 

(y) to the extent required by the rules and regulations of FINRA, retain a Qualified Independent Underwriter acceptable to the managing
underwriter; and 
 (z) use reasonable best efforts, in good faith,to cooperate with the managing underwriters, Participating Holders, any
indemnitee of the Company and their respective counsel in connection with the preparation and filing of any applications, notices, registrations and responses to requests for additional information with FINRA, Nasdaq, or any other national
securities exchange on which the shares of Class A Common Stock are listed. 
 To the extent the Company is a WKSI at the time any
Demand Registration Request is submitted to the Company, the Company shall file an automatic shelf registration statement (as defined in Rule 405 under the Securities Act) (an “automatic shelf registration statement”) on Form S-3 which covers those Registrable Securities which are requested to be registered. The Company shall not take any action that would result in it not remaining a WKSI or would result in it becoming an ineligible
issuer (as defined in Rule 405 under the Securities Act) during the period during which such automatic shelf registration statement is required to remain effective. If the Company does not pay the filing fee covering the Registrable Securities at
the time the automatic shelf registration statement is filed, the Company agrees to pay such fee at such time or times as the Registrable Securities are to be sold in compliance with the SEC rules. If the automatic shelf registration statement has
been outstanding for at least three (3) years, at or prior to the end of the third year the Company shall refile a new automatic shelf registration statement covering the Registrable Securities. If at any time when the Company is required to re-evaluate its WKSI status the Company determines that it is not a WKSI, the Company shall use its reasonable best efforts to refile the shelf registration statement on Form
S-3 and, if such form is not available, Form S-1 and keep such registration statement effective during the period which such registration statement is required to be
kept effective. 
 If the Company files any shelf registration statement for the benefit of the holders of any of its securities other than
the Holders, and the Holders do not request that their Registrable Securities be included in such Shelf Registration Statement, the Company agrees that it shall include in such registration statement such disclosures as may be required by Rule 430B
under the Securities Act (referring to the unnamed selling security holders in a generic manner by identifying the initial offering of the securities to the Holders) in order to ensure that the Holders may be added to such shelf registration
statement at a later time through the filing of a prospectus supplement rather than a post-effective amendment. 

  
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 The Company may require as a condition precedent to the Company’s obligations under
this Section 2.4 that each Participating Holder as to which any registration is being effected (i) furnish the Company such information regarding such seller and the distribution of such securities as the Company may from
time to time reasonably request (including as required under state securities laws), provided that such information is necessary for the Company to consummate such registration and shall be used only in connection with such registration and
(ii) provide any underwriters participating in the distribution of such securities such information as the underwriters may request and execute and deliver any agreements, certificates or other documents as the underwriters may request. 

Each Holder of Registrable Securities agrees that upon receipt of any notice from the Company of the happening of any event of the kind
described in clause (v) of paragraph (e) of this Section 2.4, such Holder will discontinue such Holder’s disposition of Registrable Securities pursuant to the registration statement covering such Registrable
Securities until such Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by paragraph (e) of this Section 2.4 and, if so directed by the Company, will 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 Registrable Securities that was in effect at the time of receipt of such notice. In the event the Company
shall give any such notice, the applicable period mentioned in paragraph (b) of this Section 2.4 shall be extended by the number of days during such period from and including the date of the giving of such notice to
and including the date when each Participating Holder covered by such registration statement shall have received the copies of the supplemented or amended prospectus contemplated by paragraph (e) of this Section 2.4.

 The Company agrees not to file or make any amendment to any registration statement with respect to any Registrable Securities, or any
amendment of or supplement to the prospectus, or any free writing prospectus, which amendment refers to any Holder covered thereby by name, or otherwise identifies such Holder, without the consent of such Holder, such consent not to be unreasonably
withheld or delayed, unless such disclosure is required by law, in which case the Company shall provide written notice to such Holders no less than five (5) Business Days prior to the filing. 

2.5. Registration Expenses. 

(a) The Company shall pay all Expenses with respect to any registration or offering of Registrable Securities pursuant to
Section 2, whether or not a registration statement becomes effective or the offering is consummated. 
 (b)
Notwithstanding the foregoing, (x) the provisions of this Section 2.5 shall be deemed amended to the extent necessary to cause these expense provisions to comply with state “blue sky” laws of each state in
which the offering is made and (y) in connection with any underwritten offering hereunder, each Participating Holder shall pay all underwriting discounts and commissions and any transfer taxes, if any, attributable to the sale of such
Registrable Securities, pro rata with respect to payments of discounts and commissions in accordance with the number of shares sold in the offering by such Participating Holder. 

  
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 2.6. Certain Limitations on Registration Rights. In the case of any registration
under Section 2.1 involving an underwritten offering, or, in the case of a registration under Section 2.2, if the Company has determined to enter into an underwriting agreement in connection
therewith, all securities to be included in such underwritten offering shall be subject to such underwriting agreement and no Person may participate in such underwritten offering unless such Person (i) agrees to sell such Person’s securities on
the basis provided therein and completes and executes all reasonable questionnaires, and other customary documents (including custody agreements, powers of attorney, indemnities, lock-up agreements) which must
be executed in connection therewith; provided, however, that all such documents shall be consistent with the provisions hereof and (ii) provides such other information to the Company or the underwriter as may be necessary to
register such Person’s securities. 
 2.7. Limitations on Sale or
Distribution of Other Securities. 
 (a) Each Holder that is a director or officer of the
Company agrees, to the extent requested by the Manager of any underwritten public offering pursuant to a registration or offering effected pursuant to Section 2.1 (including any Shelf Underwriting pursuant to
Section 2.1) or Section 2.2 (including any offering effected by the Company for its own account ), not to sell, transfer or otherwise dispose of, including any sale pursuant to Rule 144, any
Class A Common Stock or Class A Common Stock Equivalents (other than as part of such underwritten public offering) during the time period reasonably requested by the Manager, not to exceed the period from seven days prior to the pricing
date of such offering until ninety (90) days after the pricing date of such offering or such shorter period as the Manager, the Company or any executive officer or director of the Company shall agree to. 

(b) The Company hereby agrees that, in connection with an offering pursuant to Section 2.1 (including any Shelf
Underwriting pursuant to Section 2.1(e)) or 2.2, the Company shall not sell, transfer, or otherwise dispose of, any Class A Common Stock or Class A Common Stock Equivalent (other than as part of such
underwritten public offering, a registration on Form S- 4 or Form S-8 or any successor or similar form which is (x) then in effect or (y) shall become
effective upon the conversion, exchange or exercise of any then outstanding Class A Common Stock Equivalent), until a period from seven days prior to the pricing date of such offering until ninety (90) days after the pricing date of such
offering or such shorter period as the Manager, the Company or any executive officer or director of the Company shall agree to and the Company shall so provide in any registration rights agreements hereafter entered into with respect to any of its
securities. 
 2.8. No Required Sale. Nothing in this Agreement shall be deemed to create an independent obligation on the part of any
Holder to sell any Registrable Securities pursuant to any effective registration statement. A Holder is not required to include any of its Registrable Securities in any registration statement, is not required to sell any of its Registrable
Securities which are included in any effective registration statement, and may sell any of its Registrable Securities in any manner in compliance with applicable law (subject to applicable lock-up
restrictions) even if such shares are already included on an effective registration statement. 

  
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 2.9. Indemnification. 

(a) In the event of any registration or offer and sale of any securities of the Company under the Securities Act pursuant to this
Section 2, the Company will (without limitation as to time), and hereby agrees to, and hereby does, indemnify and hold harmless, to the fullest extent permitted by law, each Participating Holder, its directors, officers,
employees, stockholders, members, general and limited partners, agents, affiliates, representatives, successors and assigns (and the directors, officers, employees, stockholders, members, general and limited partners, agents, affiliates,
representatives, successors and assigns thereof), each other Person who participates as a seller (and its directors, officers, employees, stockholders, members, general and limited partners, agents, affiliates, representatives, successors and
assigns), underwriter or Qualified Independent Underwriter, if any, in the offering or sale of such securities, each officer, director, employee, stockholder, managing director, agent, affiliate, representative, successor, assign or partner of such
underwriter or Qualified Independent Underwriter, and each other Person, if any, who controls (within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act) such seller or any such underwriter or Qualified
Independent Underwriter and each director, officer, employee, stockholder, managing director, agent, affiliate, representative, successor, assign or partner of such controlling Person, from and against any and all losses, claims, damages or
liabilities, joint or several, actions or proceedings (whether commenced or threatened) and expenses (including reasonable fees of counsel and any amounts paid in any settlement effected with the Company’s consent, which consent shall not be
unreasonably withheld or delayed) to which each such indemnified party may become subject under the Securities Act or otherwise in respect thereof (collectively, “Claims”), insofar as such Claims arise out of, are based upon, relate
to or are in connection with (i) any untrue statement or alleged untrue statement of a material fact contained in any registration statement under which such securities were registered under the Securities Act or the omission or alleged
omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) any untrue statement or alleged untrue statement of a material fact contained in any preliminary, final or
summary prospectus or any amendment or supplement thereto, together with the documents incorporated by reference therein, or any free writing prospectus utilized in connection therewith, or the omission or alleged omission to state therein a
material fact required to be stated therein or necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading, or (iii) any untrue statement or alleged untrue statement of a
material fact in the information conveyed by the Company or any underwriter to any purchaser at the time of the sale to such purchaser, or the omission or alleged omission to state therein a material fact required to be stated therein, or
(iv) any violation by the Company of any federal, state or common law rule or regulation applicable to the Company and relating to any action required of or inaction by the Company in connection with any such offering of Registrable Securities,
and the Company will reimburse any such indemnified party for any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such Claim as such expenses are incurred; provided,
however, that the Company shall not be liable to any such indemnified party in any such case to the extent such Claim arises out of or is based upon any untrue statement or alleged untrue statement of a material fact or omission or alleged
omission of a material fact made in such registration statement or amendment thereof or supplement thereto or in any such prospectus or any preliminary, final or summary prospectus or free writing prospectus in reliance upon and in conformity with
written information furnished to the Company by or on behalf of such indemnified party specifically for use therein. Such indemnity and reimbursement of expenses shall remain in full force and effect regardless of any investigation made by or on
behalf of such indemnified party and shall survive the transfer of such securities by such seller. 

  
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 (b) Each Participating Holder (and, if the Company requires as a condition to including any
Registrable Securities in any registration statement filed in accordance with Section 2.1 or 2.2, any underwriter and Qualified Independent Underwriter, if any) shall, severally and not jointly, indemnify and hold
harmless (in the same manner and to the same extent as set forth in paragraph (a) of this Section 2.9) to the extent permitted by law the Company, its officers and its directors, each Person controlling the Company
within the meaning of the Securities Act and all other prospective sellers and their directors, officers, stockholders, fiduciaries, managing directors, agents, affiliates, representatives, successors, assigns or general and limited partners and
respective controlling Persons with respect to any untrue statement or alleged untrue statement of any material fact in, or omission or alleged omission of any material fact from, such registration statement, any preliminary, final or summary
prospectus contained therein, or any amendment or supplement thereto, or any free writing prospectus utilized in connection therewith, if such statement or alleged statement or omission or alleged omission was made in reliance upon and in conformity
with written information furnished to the Company or its representatives by or on behalf of such Participating Holder or underwriter or Qualified Independent Underwriter, if any, specifically for use therein, and each such Participating Holder,
underwriter or Qualified Independent Underwriter, if any, shall reimburse such indemnified party for any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such Claim as such
expenses are incurred; provided, however, that the aggregate amount which any such Participating Holder shall be required to pay pursuant to this Section 2.9 (including pursuant to indemnity, contribution or
otherwise) shall in no case be greater than the amount of the net proceeds received by such Participating Holder upon the sale of the Registrable Securities pursuant to the registration statement giving rise to such Claim; provided, further,
that such Participating Holder shall not be liable in any such case to the extent that prior to the filing or confidential submission of any such registration statement or prospectus or amendment thereof or supplement thereto, or any free writing
prospectus utilized in connection therewith, such Participating Holder has furnished in writing to the Company information expressly for use in such registration statement or prospectus or any amendment thereof or supplement thereto or free writing
prospectus which corrected or made not misleading information previously furnished to the Company. The Company and each Participating Holder hereby acknowledge and agree that, unless otherwise expressly agreed to in writing by such Participating
Holders to the contrary, for all purposes of this Agreement, the only information furnished or to be furnished to the Company for use in any such registration statement, preliminary, final or summary prospectus or amendment or supplement thereto, or
any free writing prospectus, are statements specifically relating to (i) the beneficial ownership of shares of Common Stock by such Participating Holder and its Affiliates as disclosed in the section of such document entitled “Selling
Stockholders” or “Principal and Selling Stockholders” and (ii) the name and address of such Participating Holder. If any additional information about such Holder or the plan of distribution (other than for an underwritten
offering) is required by law to be disclosed in any such document, then such Holder shall not unreasonably withhold its agreement referred to in the immediately preceding sentence. Such indemnity and reimbursement of expenses shall remain in full
force and effect regardless of any investigation made by or on behalf of such indemnified party and shall survive the transfer of such securities by such Holder. 

(c) Indemnification similar to that specified in the preceding paragraphs (a) and (b) of this Section 2.9 (with
appropriate modifications) shall be given by the Company and each Participating Holder with respect to any required registration or other qualification of securities under any applicable securities and state “blue sky” laws. 

  
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 (d) Any Person entitled to indemnification under this Agreement shall notify promptly the
indemnifying party in writing of the commencement of any action or proceeding with respect to which a claim for indemnification may be made pursuant to this Section 2.9, but the failure of any indemnified party to provide
such notice shall not relieve the indemnifying party of its obligations under the preceding paragraphs of this Section 2.9, except to the extent the indemnifying party is materially and actually prejudiced thereby and shall
not relieve the indemnifying party from any liability which it may have to any indemnified party otherwise than under this Section 2.9. In case any action or proceeding is brought against an indemnified party and such
indemnified party shall have notified the indemnifying party of the commencement thereof (as required above), the indemnifying party shall be entitled to participate therein and, unless in the reasonable opinion of outside counsel to the indemnified
party a conflict of interest between such indemnified and indemnifying parties exists in respect of such Claim, to assume the defense thereof jointly with any other indemnifying party similarly notified, to the extent that it chooses, with counsel
reasonably satisfactory to such indemnified party, and after notice from the indemnifying party to such indemnified party that it so chooses, the indemnifying party shall not be liable to such indemnified party for any legal or other expenses
subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation; provided, however, that (i) if the indemnifying party fails to take reasonable steps necessary to
defend diligently the action or proceeding within twenty (20) days after receiving notice from such indemnified party that the indemnified party believes it has failed to do so; or (ii) if such indemnified party who is a defendant in any action
or proceeding which is also brought against the indemnifying party reasonably shall have concluded that there may be one or more legal or equitable defenses available to such indemnified party which are not available to the indemnifying party or
which may conflict with or be different from those available to another indemnified party with respect to such Claim; or (iii) if representation of both parties by the same counsel is otherwise inappropriate under applicable standards of
professional conduct, then, in any such case, the indemnified party shall have the right to assume or continue its own defense as set forth above (but with no more than one firm of counsel for all indemnified parties in each jurisdiction, except to
the extent any indemnified party or parties reasonably shall have made a conclusion described in clause (ii) or (iii) above) and the indemnifying party shall be liable for any expenses therefor. No indemnifying party shall be liable for any
settlement of any proceeding effected without its written consent (which consent shall not be unreasonably withheld or delayed), but if settled with such consent or if there be a final judgment for the plaintiff, such indemnifying party agrees to
indemnify each indemnified party from and against any loss, claim, damage, liability or expense by reason of such settlement or judgment. No indemnifying party shall, without the written consent of the indemnified party, effect the settlement or
compromise of, or consent to the entry of any judgment with respect to, any pending or threatened action or claim in respect of which indemnification or contribution may be sought hereunder (whether or not the indemnified party is an actual or
potential party to such action or claim) unless such settlement, compromise or judgment (A) includes an unconditional release of the indemnified party from all liability arising out of such action or claim and (B) does not include a
statement as to or an admission of fault or culpability, by or on behalf of any indemnified party. 

  
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 (e) If for any reason the foregoing indemnity is unavailable, unenforceable or is
insufficient to hold harmless an indemnified party under Sections 2.9(a), (b) or (c), then each applicable indemnifying party shall contribute to the amount paid or payable to such indemnified party as a result of
any Claim in such proportion as is appropriate to reflect the relative fault of the indemnifying party, on the one hand, and the indemnified party, on the other hand, with respect to such Claim. The relative fault 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 indemnifying party or the indemnified party and the
parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such untrue statement or omission. If, however, the allocation provided in the second preceding sentence is not permitted by applicable law, then
each indemnifying party shall contribute to the amount paid or payable by such indemnified party in such proportion as is appropriate to reflect not only such relative faults but also the relative benefits of the indemnifying party and the
indemnified party as well as any other relevant equitable considerations. The parties hereto agree that it would not be just and equitable if any contribution pursuant to this Section 2.9(e) were to be determined by pro
rata allocation or by any other method of allocation which does not take account of the equitable considerations referred to in the preceding sentences of this Section 2.9(e). The amount paid or payable in respect of any
Claim shall be deemed to include any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such Claim. 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. Notwithstanding anything in this Section 2.9(e) to the contrary, no
indemnifying party (other than the Company) shall be required pursuant to this Section 2.9(e) to contribute any amount greater than the amount of the net proceeds received by such indemnifying party from the sale of
Registrable Securities pursuant to the registration statement giving rise to such Claim, less the amount of any indemnification payment made by such indemnifying party pursuant to Sections 2.9(b) and (c). In addition, no Holder of
Registrable Securities or any Affiliate thereof shall be required to pay any amount under this Section 2.9(e) unless such Person or entity would have been required to pay an amount pursuant to
Section 2.9(b) if it had been applicable in accordance with its terms. 
 (f) The indemnity and contribution
agreements contained herein shall be in addition to any other rights to indemnification or contribution which any indemnified party may have pursuant to law or contract and shall remain operative and in full force and effect regardless of any
investigation made or omitted by or on behalf of any indemnified party and shall survive the transfer of the Registrable Securities by any such party. 

(g) The indemnification and contribution required by this Section 2.9 shall be made by periodic payments of the
amount thereof during the course of the investigation or defense, as and when bills are received or expense, loss, damage or liability is incurred. 

2.10. No Inconsistent Agreements. The Company shall not hereafter enter into any agreement with respect to its securities that is
inconsistent in any material respects with the rights granted to the Holders in this Agreement. 

  
 25 

 Section 3. Underwritten Offerings. 

3.1. Requested Underwritten Offerings. If requested by the underwriters for any underwritten offering pursuant to a registration
requested under Section 2.1, the Company shall enter into a customary underwriting agreement with the underwriters. Such underwriting agreement shall (i) be satisfactory in form and substance to the Initiating Holders
and the Majority Participating Holders, (ii) contain terms not inconsistent with the provisions of this Agreement and (iii) contain such representations and warranties by, and such other agreements on the part of, the Company and such other
terms as are generally prevailing in agreements of that type, including indemnities and contribution agreements on substantially the same terms as those contained herein or as otherwise customary for the lead underwriter. Every Participating Holder
shall be a party to such underwriting agreement. Each Participating Holder shall not be required to make any representations or warranties to or agreements with the Company or the underwriters other than customary representations of a selling
shareholder, including representations, warranties or agreements regarding its ownership of and title to the Registrable Securities, any written information specifically provided by such Participating Holder for inclusion in the registration
statement and its intended method of distribution; and any liability of such Participating Holder to any underwriter or other Person under such underwriting agreement for indemnity, contribution or otherwise shall in no case be greater than the
amount of the net proceeds received by such Participating Holder upon the sale of Registrable Securities pursuant to such registration statement and in no event shall relate to anything other than information about such Holder specifically provided
by such Holder for use in the registration statement and prospectus. 
 3.2. Piggyback Underwritten Offerings. In the case of a
registration pursuant to Section 2.2, if the Company shall have determined to enter into an underwriting agreement in connection therewith, all of the Participating Holders’ Registrable Securities to be included in
such registration shall be subject to such underwriting agreement. Each such Participating Holder shall not be required to make any representations or warranties to or agreements with the Company or the underwriters other than customary
representations of a selling shareholder, including representations, warranties or agreements regarding its ownership of and title to the Registrable Securities, any written information specifically provided by such Participating Holder for
inclusion in the registration statement and its intended method of distribution; and any liability of such Participating Holder to any underwriter or other Person under such underwriting agreement shall in no case be greater than the amount of the
net proceeds received by such Participating Holder upon the sale of Registrable Securities pursuant to such registration statement and in no event shall relate to anything other than information about such Holder specifically provided by such Holder
for use in the registration statement and prospectus. 
 Section 4. General. 

4.1. Adjustments Affecting Registrable Securities. The provisions of this Agreement shall apply, to the full extent set forth herein
with respect to the Registrable Securities, to any and all shares of capital stock of the Company, any successor or assign of the Company (whether by merger, share exchange, consolidation, sale of assets or otherwise) or any Subsidiary or parent
company of the Company which may be issued in respect of, in exchange for or in substitution of, Registrable Securities and shall be appropriately adjusted for any stock dividends, splits, reverse splits, combinations, recapitalizations and the like
occurring after the date hereof. 
 4.2. Rule 144. The Company covenants that (i) so long as it
remains subject to the reporting provisions of the Exchange Act, it will timely file the reports required to be filed by it under the Securities Act or the Exchange Act (including, but not limited to, the reports under Sections 13 and 15(d) of the
Exchange Act referred to in subparagraph (c)(1)(i) of Rule 144 under the Securities Act, as such Rule may be amended (“Rule 144”)) or, if the Company is not required 

  
 26 

 to file such reports, it will, upon the request of any Holder, make publicly available other information so
long as necessary to permit sales by such Holder under Rule 144, or any similar rules or regulations hereafter adopted by the SEC, and (ii) it will take such further action as any Holder may reasonably request, all to the extent required from
time to time to enable such Holder to sell Registrable Securities without registration under the Securities Act within the limitation of the exemptions provided by Rule 144, or any similar rule or regulation hereafter adopted by the SEC. Upon the
request of any Holder of Registrable Securities, the Company will promptly deliver to such Holder a written statement as to whether it has complied with such requirements. 

4.3. Nominees for Beneficial Owners. If Registrable Securities are held by a nominee for the beneficial owner thereof, the beneficial
owner thereof may, at its option, be treated as the Holder of such Registrable Securities for purposes of any request or other action by any Holder or Holders of Registrable Securities pursuant to this Agreement (or any determination of any number
or percentage of shares constituting Registrable Securities held by any Holder or Holders of Registrable Securities contemplated by this Agreement); provided, however, that the Company shall have received evidence reasonably
satisfactory to it of such beneficial ownership. 
 4.4. Amendments and Waivers. Except as otherwise provided herein, no modification,
amendment or waiver of any provision of this Agreement shall be effective against the Company or any Holder unless such modification, amendment or waiver is approved in writing by the Company and the Holders holding a majority of the Registrable
Securities then held by all Holders; provided that notwithstanding the foregoing, any amendment hereto or waiver hereof that adversely affects one Holder, solely in its capacity as a Holder of Registrable Securities, in a manner that is
materially different from the other Holders (in such capacity) shall require the consent of the Holder so affected. No waiver of any of the provisions of this Agreement shall be deemed to or shall constitute a waiver of any other provision hereof
(whether or not similar). No failure or delay on the part of any party in exercising any right, power or privilege hereunder shall operate as a waiver thereof or of any other or future exercise of any such right, power or privilege. 

4.5. Notices. All notices, demands and other communications to be given or delivered under or by reason of the provisions of this
Agreement shall be in writing and shall be deemed to have been given (i) if personally delivered, on the date of delivery, (ii) if delivered by express courier service of national standing (with charges prepaid), on the Business Day
following the date of delivery to such courier service, (iii) if deposited in the United States mail, first-class postage prepaid, on the fifth (5th) Business Day following the date of such deposit, (iv) if delivered by facsimile
transmission, upon confirmation of successful transmission, (x) on the date of such transmission, if such transmission is completed at or prior to 5:00 p.m., local time of the recipient party on a Business Day, and (y) on the next Business
Day following the date of transmission, if such transmission is completed after 5:00 p.m., local time of the recipient party, or is transmitted on a day that is not a Business Day, or (v) if via e-mail
communication, on the date of delivery. All notices, demands and other communications hereunder shall be delivered as set forth below and to any subsequent holder of Stock subject to this Agreement at such address as indicated by the Company’s
records, or pursuant to such other instructions as may be designated in writing by the party to receive such notice: 
 if to the Company,
to: 

  
 27 

 if to any Holder, to the address set forth opposite the name of such Holder on the
signature pages hereto or such other address indicated in the records of the Company. 
 4.6. Successors and
Assigns. Except as otherwise provided herein, this Agreement shall be binding upon and inure to the benefit of and be enforceable by the parties hereto and the respective successors, permitted assigns, heirs and personal representatives
of the parties hereto, whether so expressed or not. This Agreement may not be assigned by the Company without the prior written consent of the Holders. No Holder shall have the right to assign all or part of its or his rights and obligations under
this Agreement to any Person without the consent of the Company and unless such Person duly executes and delivers to the Company a Joinder Agreement. Upon any such assignment, such assignee shall have and be able to exercise and enforce all rights
of the assigning Holder which are assigned to it and, to the extent such rights are assigned, any reference to the assigning Holder shall be treated as a reference to the assignee. If any Holder shall acquire additional Registrable Securities, such
Registrable Securities shall be subject to all of the terms, and entitled to all the benefits, of this Agreement. Additional Persons may become parties to this Agreement as Holders with the consent of the Company (not to be unreasonably withheld or
delayed), by executing and delivering to the Company the Joinder Agreement. 
 4.7. Termination. 

(a) The obligations of the Company and a Holder under this Agreement, in each case solely with respect to such Holder, will terminate upon the
earlier of: 
 (i) the date on which such Holder no longer holds any Registrable Securities; or 

(ii) the later of (A) the date on which such Holder no longer beneficially owns at least 1% of the then outstanding Class A Common
Stock or Class A Common Stock Equivalents, and such Holder (notwithstanding any beneficial ownership of Class A Common Stock or Class A Common Stock Equivalents by such Holder) is not an Affiliate of the Company and (B) the date
on which such the Holder is eligible to sell its Registrable Securities pursuant to Rule 144 (without limitation as to volume or manner of sale). 

(b) This Agreement shall terminate on the date that is five (5 years from date hereof. 

(c) Notwithstanding clauses (a) and (b) above, Section 2.5, Section 2.9,
Section 4.9 and Section 4.13 shall survive termination of this Agreement. 
 4.8.
Entire Agreement. This Agreement and the other documents referred to herein or delivered pursuant hereto which form part hereof constitute the entire agreement and understanding between the parties hereto and supersedes all prior agreements
and understandings relating to the subject matter hereof. 

  
 28 

 4.9. Governing Law; Jurisdiction; Waiver
of Jury Trial. 
 (a) This Agreement will be governed by, and construed in accordance with, the laws
of the State of New York, without giving effect to the principles of conflict of laws thereof. 
 (b) Any suit, action or proceeding seeking
to enforce any provision of, or based on any matter arising out of or in connection with, this Agreement may be brought against any of the parties in the United States District Court for the Southern District of New York or any New York state court
located in New York, New York, and each of the parties hereby consents to the exclusive jurisdiction of such court (and of the appropriate appellate courts) in any such suit, action or proceeding and waives any objection to venue laid therein.
Process in any such suit, action or proceeding may be served on any party anywhere in the world, whether within or without the jurisdiction of any such court. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN
ANY LEGAL PROCEEDING ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT. 
 4.10. Interpretation; Construction. 

(a) The table of contents and headings in this Agreement are for convenience of reference only, do not constitute part of this Agreement and
shall not be deemed to limit or otherwise affect any of the provisions hereof. Where a reference in this Agreement is made to a Section, such reference shall be to a Section of this Agreement unless otherwise indicated. Whenever the words
“include,” “includes” or “including” are used in this Agreement, they shall be deemed to be followed by the words “without limitation.” 

(b) The parties have participated jointly in negotiating and drafting this Agreement. In the event that an ambiguity or a question of intent or
interpretation arises, this Agreement shall be construed as if drafted jointly by the parties, and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provision of this Agreement. 

4.11. Counterparts. This Agreement may be executed and delivered in any number of separate counterparts (including by facsimile or
electronic mail), each of which shall be an original, but all of which together shall constitute one and the same agreement. 
 4.12.
Severability. The provisions of this Agreement shall be deemed severable and the invalidity or unenforceability of any provision shall not affect the validity or enforceability of the other provisions hereof. If any provision of this
Agreement, or the application thereof to any person or any circumstance, is invalid or unenforceable, (a) a suitable and equitable provision shall be substituted therefor in order to carry out, so far as may be valid and enforceable, the intent
and purpose of such invalid or unenforceable provision and (b) the remainder of this Agreement and the application of such provision to other persons or circumstances shall not be affected by such invalidity or unenforceability, nor shall such
invalidity or unenforceability affect the validity or enforceability of such provision, or the application thereof, in any other jurisdiction. 

  
 29 

 4.13. Specific Enforcement. It is agreed and understood that monetary damages would
not adequately compensate an injured party for the breach of this Agreement by any party hereto and, accordingly, that this Agreement shall be specifically enforceable, in addition to any other remedy to which such injured party is entitled at law
or in equity, and that any breach of this Agreement shall be the proper subject of a temporary or permanent injunction or restraining order. Further, each party hereto waives any claim or defense that there is an adequate remedy at law for such
breach or threatened breach or an award of specific performance is not an appropriate remedy for any reason at law or equity and agrees that a party’s rights would be materially and adversely affected if the obligations of the other parties
under this Agreement were not carried out in accordance with the terms and conditions hereof. Each party further agrees that no party shall be required to obtain, furnish or post any bond or similar instrument in connection with or as a condition to
obtain any remedy referred to in this Section 4.13, and each party irrevocably waives any right it may have to require the obtaining, furnishing or posting of any such bond or similar instrument. 

4.14. Further Assurances. Each party hereto shall do and perform or cause to be done and performed all such further acts
and things and shall execute and deliver all such other agreements, certificates, instruments, and documents as any other party hereto reasonably may request in order to carry out the intent and accomplish the purposes of this Agreement and the
consummation of the transactions contemplated hereby. 
 4.15. Confidentiality. Each Holder agrees that any non-public information which they may receive relating to the Company and its Subsidiaries (the “Confidential Information”) including notices of proposed offerings or any suspension thereof will be
held strictly confidential and will not be disclosed by it to any Person without the express written permission of the Company; provided, however, that the Confidential Information may be disclosed (i) in the event of any compulsory legal
process or compliance with any applicable law, subpoena or other legal process, as required by an administrative requirement, order, decree or the rules of any relevant stock exchange or in connection with any filings that the Holder may be required
to make with any regulatory authority; provided, however, that in the event of compulsory legal process, unless prohibited by applicable law or that process, each Holder agrees (A) to give the Company prompt notice thereof and to cooperate with
the Company in securing a protective order in the event of compulsory disclosure and (B) that any disclosure made pursuant to public filings will be subject to the prior reasonable review of the Company, (ii) to any foreign or domestic
governmental or quasi-governmental regulatory authority, including any stock exchange or other self-regulatory organization having jurisdiction over such party, (iii) to each Holder’s or its Affiliate’s, officers, directors,
employees, partners, accountants, lawyers and other professional advisors for use relating solely to management of the investment or administrative purposes with respect to such Holder and (iv) to a proposed transferee of securities of the
Company held by a Holder; provided, however, that the Holder informs the proposed transferee of the confidential nature of the information and the proposed transferee agrees in writing to comply with the restrictions in this
Section 4.15 and delivers a copy of such writing to the Company. 

  
 30 

 4.16. Opt-Out Requests. Each Holder shall
have the right, at any time and from time to time (including after receiving information regarding any potential public offering), to elect to not receive any notice that the Company or any other Holders otherwise are required to deliver pursuant to
this Agreement by delivering to the Company a written statement signed by such Holder that it does not want to receive any notices hereunder (an “Opt-Out Request”); in which case and
notwithstanding anything to the contrary in this Agreement the Company and other Holders shall not be required to, and shall not, deliver any notice or other information required to be provided to Holders hereunder to the extent that the Company or
such other Holders reasonably expect would result in a Holder acquiring material non-public information within the meaning of Regulation FD promulgated under the Exchange Act. An
Opt-Out Request may state a date on which it expires or, if no such date is specified, shall remain in effect indefinitely. A Holder who previously has given the Company an
Opt-Out Request may revoke such request at any time, and there shall be no limit on the ability of a Holder to issue and revoke subsequent Opt-Out Requests;
provided that each Holder shall use commercially reasonable efforts to minimize the administrative burden on the Company arising in connection with any such Opt-Out Requests. 

4.17. Original Registration Rights Agreement. The Sponsor hereby agrees that upon execution of this Agreement by the Sponsor, the
Original Registration Rights Agreement shall be automatically terminated and superseded in its entirety by this Agreement. 
 [Remainder of
Page Intentionally Left Blank] 

  
 31 

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

			
	THE COMPANY:
	
	Grove Collaborative Holdings, Inc.,
	 a Delaware public benefit corporation 

		
	By:	 	 /s/ Stuart Landesberg

		 	Name: Stuart Landesberg
		 	Title: Chief Executive Officer
	
	Address:
	1301 Sansome Street
	San Francisco, CA 94111

 [Signature Page to Amended and Restated Registration Rights Agreement] 

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

			
	HOLDER:
	
	 VIRGIN GROUP ACQUISITION SPONSOR II LLC
  

By Corvina Holdings Limited, its Member Manager

		
	By:	 	 /s/ Kerry Graziola 

	Name: Kerry Graziola
	Title: Alternate Director

 [Signature Page to Amended and Restated Registration Rights Agreement] 

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

			
	HOLDER:
	
	Mayfield XV, a Cayman Islands exempted limited partnership
	
	 By: MAYFIELD SELECT MANAGEMENT (EGP), L.P.,

a Cayman Islands Exempted Limited Partnership
 Its: General
Partner

	
	 By: MAYFIELD XV MANAGEMENT (UGP), LTD.,

a Cayman Islands Exempted Company
 Its: General
Partner

		
	By:	 	 /s/ Rishi Garg

		 	Name: Rishi Garg
		 	Title: Partner
	
	Address:
	2484 Sand Hill Rd.
	 Menlo Park, CA 94705

USA

 [Signature Page to Amended and Restated Registration Rights Agreement] 

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

			
	HOLDER:
	
	Mayfield Select, a Cayman Islands exempted limited partnership
	
	 By: MAYFIELD SELECT MANAGEMENT (EGP), L.P.,

a Cayman Islands Exempted Limited Partnership
 Its: General
Partner

	
	 By: MAYFIELD SELECT MANAGEMENT (UGP), LTD.,

a Cayman Islands Exempted Company
 Its: General
Partner

		
	By:	 	 /s/ Rishi Garg

		 	Name: Rishi Garg
		 	Title: Partner
	
	Address:
	 2484 Sand Hill Rd.
 Menlo Park, CA
94705
 USA

 [Signature Page to Amended and Restated Registration Rights Agreement] 

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

			
	HOLDER:
	
	Norwest Venture Partners XIII, LP
	 By: Genesis VC Partners XIII, LLC, General Partner

By: NVP Associates, LLC, Managing Member

		
	By:	 	 /s/ Jeff Crowe

		 	Name: Jeff Crowe
		 	Title: Managing Partner
	
	Address:
	525 University Ave
	 Palo Alto, CA
 94301

 [Signature Page to Amended and Restated Registration Rights Agreement] 

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

			
	HOLDER:
	
	General Atlantic (GC), L.P.
	 By: General Atlantic (SPV) GP, LLC,

its general partner

		
	By:	 	 /s/ Kelly Pettit

		 	Name: Kelly Pettit
		 	Title: Managing Director
	
	Address:
	 General Atlantic Service Company, L.P.

55 East 52nd Street, Floor 33

	New York, NY, 10055

 [Signature Page to Amended and Restated Registration Rights Agreement] 

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

			
	HOLDER:
	
	Lone Cypress, Ltd.
	By: Lone Pine Capital LLC, its investment advisor
		
	By:	 	 /s/ Kerry A. Tyler

		 	Name: Kerry A. Tyler
		 	Title: Authorized Signatory
	
	Address:
	 Lone Pine Capital LLC, Attn: Legal Department

Two Greenwich Plaza

	Greenwich, CT 06830

 [Signature Page to Amended and Restated Registration Rights Agreement] 

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

			
	HOLDER:
	
	Lone Cascade, L.P.
	By: Lone Pine Capital LLC, its investment advisor
		
	By:	 	 /s/ Kerry A. Tyler 

		 	Name: Kerry A. Tyler
		 	Title: Authorized Signatory
	
	Address:
	Lone Pine Capital LLC, Attn: Legal Department
	 Two Greenwich Plaza

	Greenwich, CT 06830

 [Signature Page to Amended and Restated Registration Rights Agreement] 

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

			
	HOLDER:
	
	Lone Spruce, L.P.
	By: Lone Pine Capital LLC, its investment advisor
		
	By:	 	 /s/ Kerry A. Tyler

		 	Name: Kerry A. Tyler
		 	Title: Authorized Signatory
	
	Address:
	 Lone Pine Capital LLC, Attn: Legal Department

Two Greenwich Plaza

	Greenwich, CT 06830

 [Signature Page to Amended and Restated Registration Rights Agreement] 

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

			
	HOLDER:
	
	Lone Monterey Master Fund, Ltd.
	By: Lone Pine Capital LLC, its investment advisor
		
	By:	 	 /s/ Kerry A. Tyler

		 	Name: Kerry A. Tyler
		 	Title: Authorized Signatory
	
	Address:
	Lone Pine Capital LLC, Attn: Legal Department
	 Two Greenwich Plaza
 Greenwich, CT
06830

 [Signature Page to Amended and Restated Registration Rights Agreement] 

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

			
	HOLDER:
	
	Lone Sierra, L.P.
	By: Lone Pine Capital LLC, its investment advisor
		
	By:	 	 /s/ Kerry A. Tyler 

		 	Name: Kerry A. Tyler
		 	Title: Authorized Signatory
	
	Address:
	Lone Pine Capital LLC, Attn: Legal Department
	 Two Greenwich Plaza
 Greenwich, CT
06830

 [Signature Page to Amended and Restated Registration Rights Agreement] 

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

			
	HOLDER:
	
	MHS Capital Partners II, L.P.
	 By: MHS Capital Management II, LLC

Its: General Partner

		
	By:	 	 /s/ Mark Sugarman

		 	Name: Mark Sugarman
		 	Title: Managing Member
	
	Address:
	 MHS Capital
 2121 South El Camino
Real suite 200
 San MATEO, CA 99403

 [Signature Page to Amended and Restated Registration Rights Agreement] 

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

			
	HOLDER:
	
	MHS Capital Partners G, LLC
	 By: MHS Capital Management II, LLC

Its: General Partner

		
	By:	 	 /s/ Mark Sugarman

		 	Name: Mark Sugarman
		 	Title: Managing Member
	
	Address:
	 MHS Capital
 2121 El Camino Real
suite 200
 San Mateo, CA 99403

 [Signature Page to Amended and Restated Registration Rights Agreement] 

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

			
	HOLDER:
	
	MHS Capital Partners G2, LLC
	 By: MHS Capital Management II, LLC

Its: General Partner

		
	By:	 	 /s/ Mark Sugarman

		 	Name: Mark Sugarman
		 	Title: Managing Member
	
	Address:
	 MHS Capital
 2121 El Camino Real
suite 200
 San Mateo, CA 99403

 [Signature Page to Amended and Restated Registration Rights Agreement] 

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

			
	HOLDERS:
	
	SCM GC Investments Limited
		
	By:	 	 /s/ Wayne Cohen

		 	Name: Wayne Cohen
		 	Title: Authorized Signatory
	
	Address:
	9 West 57th Street, 39th Floor
	New York, NY 10019
	Attn: Legal
	
	Sculptor Master Fund, Ltd.
	By: Sculptor Capital LP, its investment manager
	 By: Sculptor Capital Holding Corporation,

its General Partner

		
	By:	 	 /s/ Wayne Cohen

		 	Name: Wayne Cohen
		 	Title: President and Chief Operating Officer
	
	 Sculptor Enhanced Master Fund, Ltd. 

By: Sculptor Capital LP, its investment manager

	 By: Sculptor Capital Holding Corporation,

its General Partner

		
	By:	 	 /s/ Wayne Cohen

		 	Name: Wayne Cohen
		 	Title: President and Chief Operating Officer
	
	Address:
	9 West 57th Street, 39th Floor
	New York, NY 10019
	Attn: Legal

 [Signature Page to Amended and Restated Registration Rights Agreement] 

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

			
	HOLDER:
	
	CORVINA HOLDINGS LIMITED
		
	By:	 	 /s/ Kerry Graziola

	Name: Kerry Graziola
	Title: Alternate Director

 [Signature Page to Amended and Restated Registration Rights Agreement] 

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

	
	HOLDER:
	
	 /s/ Stuart Landesberg

	Stuart Landesberg
	
	Address:
	7 Heuters lane
	 Mill valley ca 94941
 Usa

 [Signature Page to Amended and Restated Registration Rights Agreement] 

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

			
	HOLDER:
	
	THE LANDESBERG LIVING TRUST, DATED OCTOBER 15, 2021
		
	By:	 	
/s/ Stuart A. Landesberg        /s/ Caitlin 
Landesberg

		 	Name: Stuart A. Landesberg and Caitlin Landesberg, as co-trustees of The Landesberg Living Trust, dated October 15, 2021
	
	Address:
	7 Heuters Lane
	Mill valley ca 94941
	  

 [Signature Page to Amended and Restated Registration Rights Agreement] 

 Exhibit A 

JOINDER AGREEMENT 
 This
Joinder Agreement (this “Joinder Agreement”) is made as of [    ], by [and among [    ] (the “Transferring Holder”) and] [    ] (the “New
Holder”), in accordance with that certain Amended and Restated Registration Rights Agreement, dated as of June 16, 2022 (as amended from time to time, the “Agreement”), by and among Grove Collaborative Holdings, Inc.
(the “Company”) and the other Holders party thereto. 
 WHEREAS, the Agreement requires the New Holder to become a
party to the Agreement by executing this Joinder Agreement, and upon the New Holder signing this Joinder Agreement, the Agreement will be deemed to be amended to include the New Holder as a Holder thereunder; 

NOW, THEREFORE, in consideration of the foregoing, and of the representations, warranties, covenants and agreements contained herein,
and intending to be legally bound hereby, the parties hereto agree as follows: 
 Section 1. Party to the Agreement. By execution
of this Joinder Agreement, as of the date hereof the New Holder is hereby made a party to the Agreement as a Holder. The New Holder hereby agrees to become a party to the Agreement and to be bound by, and subject to, all of the representations,
covenants, terms and conditions of the Agreement in the same manner as if the New Holder were an original signatory to the Agreement. Execution and delivery of this Joinder Agreement by the New Holder shall also constitute execution and delivery by
the New Holder of the Agreement, without further action of any party. 
 Section 2. Defined Terms. Capitalized
terms used but not defined herein shall have the meanings set forth in the Agreement unless otherwise noted. 
 Section 3.
Representations and Warranties of the New Holder. 
 3.1. Authorization. The New Holder has all requisite power and authority and has
taken all action necessary in order to duly and validly approve the New Holder’s execution and delivery of, and performance of its obligations under, this Joinder Agreement. This Joinder Agreement has been duly executed and delivered by the New
Holder and constitutes a legal, valid and binding agreement of the New Holder, enforceable against the New Holder in accordance with its terms. 

3.2. No Conflict. The New Holder is not under any obligation or restriction, nor shall it assume any such obligation or
restriction, that does or would materially interfere or conflict with the performance of its obligations under this Joinder Agreement. 

Section 4. Further Assurances. The parties agree to execute and deliver any further instruments or perform any acts which are or
may become necessary to effectuate the purposes of this Joinder Agreement. 
  

  
 Exhibit A-1 

 Section 5. Governing Law. This Joinder Agreement will be governed
by, and construed in accordance with, the laws of the State of New York, without giving effect to the principles of conflict of laws thereof. 

Section 6. Counterparts. This Joinder Agreement may be executed in any number of counterparts, all of which taken together shall
constitute one and the same amendatory instrument. 
 Section 7. Entire Agreement. This Joinder Agreement and the Agreement
contain the entire understanding, whether oral or written, of the parties hereto with respect to the matters covered hereby. Any amendment or change in this Joinder Agreement shall not be valid unless made in writing and signed by each of the
parties hereto. 
 [Signature pages follow] 

  
 Exhibit A-2 

 Exhibit A 

IN WITNESS WHEREOF, intending to be legally bound hereby, the undersigned parties have executed this Joinder Agreement as of the date
first above written. 
  

			
	[TRANSFERRING HOLDER]
	
	[ _____]
		
	By:	 	  

		 	Name:
		 	Title:
	
	NEW HOLDER
	
	[ _____]
		
	By:	 	  

		 	Name:
		 	Title:
	
	Notice Address: [
                                        
    ]
	[ _____]
	[ _____]
	Attn: [                                ]
	Facsimile: [            ]

  

			
	Accepted and Agreed to as of
	the date first written above:
	
	COMPANY
	
	Grove Collaborative Holdings, Inc.
		
	By:	 	  

		 	Name:
		 	Title:

  
 Exhibit A-3

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