Document:

Forms of JAMDAT Mobile Inc 2004 Equity Incentive Stock Award Agreement

 Exhibit 4.06 
  
 JAMDAT MOBILE INC. 
 STOCK AWARD 
 2004 EQUITY INCENTIVE PLAN 
  
 «First»«Middle»«Last» 
  
 JAMDAT Mobile Inc., a Delaware corporation, (the “Company”) hereby grants to the Participant named
above a Stock Award (the “Award”) consisting of Stock Units issued under the Company’s 2004 Equity Incentive Plan, as amended (the “Plan”), to receive the total number of units set forth below of
the Company’s Common Stock (the “Award Units”). The Award is subject to all of the terms and conditions set forth herein, in the attached Appendix A, and in the Plan, the provisions of which are incorporated herein by
reference. The principal features of the Award are as follows: 
  

			
	Award Units:	 	«Shares»
	Award Date:	 	 

  
 Vesting Schedule:
Subject to the terms and conditions of the Plan and of Appendix A, the Award shall vest as to 25% of the Award Units on each of the first, second, third and fourth anniversaries of the Award Date on which Participant is, and has remained
continuously since the Award Date, employed by the Company or an Affiliate (or such later date as may result from suspended vesting as provided below). Vesting will continue in accordance with the Vesting Schedule during a leave of absence that is
protected under local law (which may include, but is not limited to, a maternity, paternity, disability, medical, or military leave), provided that such vesting shall not exceed the maximum leave of absence period protected by local law. Vesting
shall be suspended during any unpaid personal leave of absence, except as otherwise provided by local law. 
  
 PLEASE READ ALL OF APPENDIX A WHICH CONTAINS THE SPECIFIC TERMS AND CONDITIONS OF THE AWARD. 
  

	
	 JAMDAT MOBILE INC.

	
	  

	 Name:

	 Title:

  
 ACCEPTANCE: 
  
 Participant hereby acknowledges receipt of a copy of the Plan and a copy of
the Prospectus, as amended, and that additional copies are available upon request from the Administrator. Participant represents that Participant has read and understands the terms and conditions thereof, and accepts the Award subject to all the
terms and conditions of the Plan and the Award. Participant acknowledges that there may be adverse tax consequences due to the Award and that Participant should consult a tax advisor to determine his or her actual tax consequences. Participant
must accept this Award by executing and delivering a paper version to the Company within 30 days otherwise the Company may, at its discretion, rescind the Award in its entirety. 
  
  

 Signature 
  

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 JAMDAT MOBILE INC. 
 STOCK AWARD 
 2004 EQUITY INCENTIVE PLAN 
  
 «First»«Middle»«Last» 
  
 JAMDAT Mobile Inc., a Delaware corporation, (the
“Company”) hereby grants to the Participant named above a Stock Award (the “Award”) consisting of Stock Units issued under the Company’s 2004 Equity Incentive Plan, as amended (the
“Plan”), to receive the total number of units set forth below of the Company’s Common Stock (the “Award Units”). The Award is subject to all of the terms and conditions set forth herein, in the
attached Appendix A, and in the Plan, the provisions of which are incorporated herein by reference. The principal features of the Award are as follows: 
  

			
	Award Units:	 	«Shares»
	Award Date:	 	 

  
 Vesting Schedule: 100%
of the Award Units shall vest on the first anniversary of the Award Date provided Participant remains continuously employed by the Company or an Affiliate until the first anniversary of the Award Date (or such later date as may result from suspended
vesting as provided below). Vesting will continue in accordance with the Vesting Schedule during a leave of absence that is protected under local law (which may include, but is not limited to, a maternity, paternity, disability, medical, or military
leave), provided that such vesting shall not exceed the maximum leave of absence period protected by local law. Vesting shall be suspended during any unpaid personal leave of absence, except as otherwise provided by local law. 
  
 PLEASE READ ALL OF APPENDIX A WHICH CONTAINS THE SPECIFIC TERMS AND
CONDITIONS OF THE AWARD. 
  

	
	 JAMDAT MOBILE INC.

	
	  

	 Name:

	 Title:

	 

  
 ACCEPTANCE: 
  
 Participant hereby acknowledges receipt of a copy of the Plan and a copy of
the Prospectus, as amended, and that additional copies are available upon request from the Administrator. Participant represents that Participant has read and understands the terms and conditions thereof, and accepts the Award subject to all the
terms and conditions of the Plan and the Award. Participant acknowledges that there may be adverse tax consequences due to the Award and that Participant should consult a tax advisor to determine his or her actual tax consequences. Participant
must accept this Award by executing and delivering a paper version to the Company within 30 days otherwise the Company may, at its discretion, rescind the Award in its entirety.  
  
  

 Signature 
  

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 APPENDIX A 
 JAMDAT MOBILE INC. 
 STOCK AWARD 
 (U.S. EMPLOYEES) 
  
 Award. Each Award Unit represents the right to receive one share of JAMDAT Mobile Inc. Common Stock (“Common Stock”), subject to certain restrictions and on the terms and conditions
contained in this Stock Award (“Award”) and the JAMDAT Mobile Inc. 2004 Equity Incentive Plan, as amended (the “Plan”). In the event of any conflict between the terms of the Plan and this Award, the
terms of the Plan shall govern. Any terms not defined herein shall have the meaning set forth in the Plan. 
  
 No Shareholder Rights. The Award does not entitle Participant to any rights of a shareholder of Common Stock. The rights of Participant with
respect to the Award shall remain forfeitable at all times prior to the date on which such rights become vested. 
  
 Conversion of Award Units; Issuance of Common Stock. No Shares of Common Stock shall be issued to Participant prior to the date on which the Award
Units vest. After any Award Units vest, the Company shall promptly cause to be issued in book-entry form, registered in Participant’s name or in the name of Participant’s legal representatives, beneficiaries or heirs, as the case may be,
Common Stock in payment of such vested whole Award Units; provided, however, that in the event such Award Units do not vest on a day during which the Company’s Common Stock is quoted on the Nasdaq National Market (or traded on such other
principal national securities market or exchange on which the Company’s Common Stock may then be listed) (“Trading Day”), the Company shall cause such Common Stock to be issued on the next Trading Day following the date
on which such Award Units vest; provided, further, that in no event shall the Company cause such Shares to be issued later than two (2) months after the date on which such Award Units vest. For purposes of this Award, the date on which
vested Award Units are converted into Common Stock shall be referred to as the “Conversion Date.” 
  
 Fractional Award Units. In the event Participant is vested in a fractional portion of an Award Unit (a “Fractional
Portion”), such Fractional Portion shall not be converted into a Share or issued to Participant. Instead, the Fractional Portion shall remain unconverted until the final vesting date for the Award Units; provided,
however, if Participant vests in a subsequent Fractional Portion prior to the final vesting date for the Award Units and such Fractional Portion taken together with a previous Fractional Portion accrued by Participant under this
Award would equal or be greater than a whole Share, then such Fractional Portions shall be converted into one Share; provided, further, that following such conversion, any remaining Fractional Portion shall remain unconverted. Upon
the final vesting date, the value of any remaining Fractional Portion(s) shall be rounded up to the nearest whole Award Unit at the same time as the conversion of the remaining Award Units and issuance of Common Stock described in section 3 above.

  
 Restriction on Transfer. Neither the Award Units nor
any rights under this Award may be sold, assigned, transferred, pledged, hypothecated or otherwise disposed of by Participant other than by will or by the laws of descent and distribution, and any such purported sale, 

  

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assignment, transfer, pledge, hypothecation or other disposition shall be void and unenforceable against the Company. Notwithstanding the foregoing,
Participant may, in the manner established by the Administrator, designate a beneficiary or beneficiaries to exercise Participant’s rights and receive any property distributable with respect to the Award Units upon Participant’s death.

  
 Termination of Service. 
  
 Forfeiture of Unvested Award Units Upon Termination of Service, Other
than Death or Disability. In the event that Participant’s employment or service is terminated for any reason other than death or disability and the Award Units are not yet fully vested as of the date of termination, then the unvested Award
Units shall be forfeited immediately upon such termination. 
  
 Termination of Service Due to Death or Disability. If the Participant’s employment or service with the Company or Affiliate is terminated due to death or disability after the first anniversary of the Award Date, a pro-rata
portion of the Award Units, to the extent that the Award Units are partially vested on the termination date, will be converted into Shares and issued to the Participant, or Participant’s legal representatives, beneficiaries, or heirs, as the
case may be. If the Participant’s employment or service with the Company or Affiliate is terminated due to death or disability, before the first anniversary of the Award Date, the entire Award shall be forfeited. In determining the pro-rata
portion of the Award Units that are vested on the termination date, the Administrator will consider the number of months worked by Participant during the 12-calendar month period preceding the next anniversary of the Award Date under the following
formula: 
  

					
	 Number of Award Units
 scheduled to vest on the
 next anniversary of the
 Award Date
	 	multiplied
by	  	 [Number of calendar months worked by Participant
     during the 12-month period prior to the next
     anniversary of the Award Date] divided by
12

  
 Participant shall be deemed to have
worked a calendar month if Participant has worked any portion of that month. The Administrator’s determination of vested Award Units shall be in whole Award Units only and will be binding on the Participant. 
  
 Forfeiture of Pro-Rata Portion of Award Units Upon Cessation of Full-Time
Employment Status. Except as provided in this section, the Award Units shall be forfeited in part, if Participant ceases to be a full-time employee, but remains an employee of the Company or Affiliate. If the Participant ceases to be a full-time
employee for any reason other than disability but remains an employee of the Company or Affiliate, the number of Award Units shall be reduced by the result of the following formula: 
  

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	 Total number of unvested
 Award Units
	  	multiplied
by	  	 [[X minus Y] divided by X]
  
 Where X equals the number of hours in Participant’s regularly-scheduled workweek prior to ceasing to be a
full-time employee, and Y equals the number of hours in Participant’s regularly-scheduled workweek after ceasing to be a full-time employee.

  
 Unless otherwise determined by the
Administrator or required by local law, a Participant shall be deemed to be a “full-time” employee if Participant works not less than 40 hours per week or such other number of minimum hours per workweek then considered by the Company in
its sole discretion to be “full-time”. The Award shall continue to vest as set forth in the Award, provided the Participant is continuously employed by the Company or Affiliate during the relevant vesting period. 
  
 No Rights of Employment. Nothing in the Plan or the Award shall confer
on Participant any right to continue in the employ of, or other relationship with, the Company or any Affiliate or limit in any way the right of the Company or any Affiliate to terminate Participant’s employment or other relationship at any
time, with or without cause. 
  
 No Acquired Rights. The
Participant agrees and acknowledges that: 
  
 the Plan is
discretionary and the Company can amend or cancel it at any time; 
  
 participation in the Plan is voluntary and does not create any contractual or other right to receive future rights to Shares; 
  
 the right to Shares under the Plan is not part of normal or expected compensation or salary for any purposes, including, but not limited to, calculating
any termination, severance, resignation, redundancy, bonuses, pension or retirement benefits or similar payments; 
  
 the future value of the Shares awarded under the Plan is unknown and cannot be predicted with certainty; and 
  
 no claim or entitlement to compensation or damages arises from the
termination of the right to receive Shares or diminution in value of the Shares awarded under the Plan and the Participant irrevocably releases the Company and the Participant’s employer from any such claim that may arise. 
  
 Tax Withholding. 
  
 The Company will assess its requirements regarding tax, social insurance,
and other applicable taxes (“Tax Items”) in connection with the Award. These requirements may change from time to time as laws or interpretations change. Regardless of the Company’s actions in this regard, the
Participant hereby acknowledges and agrees that the ultimate liability for Tax 

  

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Items is the responsibility of the Participant. Participant acknowledges and agrees that the Company and/or the Participant’s employer: 
  
 make no representations or undertakings regarding the treatment of any Tax
Items in connection with any aspect of the Award, including the subsequent sale of Shares acquired under the Plan; and 
  
 do not commit to structure the terms of the Award or any aspect of the Award to reduce or eliminate the Participant’s liability for Tax Items.

  
 Prior to the delivery of Shares upon the vesting of Award
Units (“Award Shares”), the Participant must pay or make adequate provisions for the withholding of Tax Items. The Participant authorizes the Company and/or the Participant’s employer to collect the Tax Items by
withholding from the delivery of the Award Shares a whole number of Shares with a Fair Market Value equal to or in excess of the minimum withholding obligation for Tax Items; provided, however, that in order to avoid issuing fractional
Shares, the Company may issue no more than a single whole Share in excess of the minimum withholding obligation for Tax Items. For example, if the minimum withholding obligation for Tax Items is $225 and the Fair Market Value of the Common Stock is
$50 per share, then the Company may withhold up to five Shares from the delivery of Award Shares on the issuance date. The Company or the Participant’s employer will remit the total amount withheld for Tax Items to the appropriate tax
authorities. The Participant shall pay to the Company or the Participant’s employer any amount of any Tax Items that the Company or the Participant’s employer may be required to withhold as a result of participation in the Plan that cannot
be satisfied by the means previously described. 
  
 Tax
Consequences. Set forth below is a brief summary as of the date the form of Award was adopted of some of the federal and California tax consequences of the Award, the vesting of the Award Units, and disposition of the Award Shares. THIS SUMMARY
IS NECESSARILY INCOMPLETE, AND THE TAX LAWS AND REGULATIONS ARE SUBJECT TO CHANGE. PARTICIPANT IS STRONGLY ADVISED TO CONSULT A TAX ADVISER. 
  
 Vesting of Award Units. Upon the issuance of Award Shares to Participant following the vesting of Award Units, Participant will recognize
compensation income (taxable at ordinary income tax rates) equal to the Fair Market Value of the Award Shares on the Conversion Date. 
  
 Disposition of the Award Shares. For federal tax purposes, if the Award Shares are held for less than 12 months after the Conversion Date, any gain
realized on the disposition of the Award Shares will be treated as a short-term capital gain. If the Award Shares are held for more than 12 months any such gain will be treated as long-term capital gain. 
  
 Compliance with Laws and Regulations. The issuance and transfer of
Common Stock shall be subject to compliance by the Company and the Participant with all applicable requirements of federal and state laws and with all applicable requirements of any stock exchange or national market system on which the
Company’s Common Stock may be listed at the time of such issuance or transfer. 
  

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 Authority of the Board and the Administrator. Any dispute regarding the interpretation of the
Award shall be submitted by Participant, Participant’s employer, or the Company, forthwith to either the Board or the Administrator, which shall review such dispute at its next regular meeting. The resolution of such a dispute by the Board or
Administrator shall be final and binding on the Participant, Participant’s employer, and/or the Company. 
  
 Governing Law. The Award as well as the terms and conditions set forth in the Plan shall be governed by, and subject to, the law of the State of
California. 
  
 Captions. Captions provided herein are for
convenience only and are not to serve as a basis for interpretation or construction or this Award. 
  
 Agreement Severable. In the event that any provision in this Award agreement is held to be invalid or unenforceable, such provision will be
severable from, and such invalidity or unenforceability will not be construed to have any effect on, the remaining provisions of this Award agreement. 
  
 Entire Agreement. The Award, including this Appendix A, and the Plan constitute the entire agreement of the parties and supersede all prior
undertakings and agreements with respect to the subject matter hereof. 
  

 -7-Registration Rights Agreement

 Exhibit 10.1 
  
 REGISTRATION RIGHTS AGREEMENT 
  

BY AND AMONG 
  
 ANSYS, INC., AND 
  
 THE HOLDERS NAMED HEREIN 
  
 DATED: FEBRUARY 15, 2006 

 REGISTRATION RIGHTS AGREEMENT 
  
 THIS REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is entered into as of February 15, 2006 by and
among ANSYS, Inc., a Delaware corporation (“Parent”), Willis Stein & Partners II, L.P., Willis Stein & Partners III, L.P., Willis Stein & Partners Dutch, L.P., Willis Stein & Partners Dutch III-A,
L.P., Willis Stein & Partners Dutch III-B, L.P., and Willis Stein & Partners III-C, L.P. (collectively, together with any other person who will receive or has received stock of Parent in the mergers and related transactions set
forth in the Merger Agreement (as defined below) and who elects to become a party to this Agreement and executes and delivers to the other Holders and Parent a counterpart signature page to this Agreement on or prior to the Fourth Effective Time,
the “Holders” and each individually as a “Holder”).  
  
 WHEREAS, concurrently with the execution of this Agreement, Parent is entering into that certain Agreement and Plan of Merger dated as of February 15, 2006 by and among Parent, ANSYS XL, LLC (“Merger
LLC”), a wholly-owned subsidiary of Parent, BEN I, Inc., a wholly-owned subsidiary of Merger LLC (“Merger Sub”), HINES II, Inc., a wholly-owned subsidiary of Merger LLC (“Merger Sub II”), Heat Holdings
Corp. (“Holding”), Aavid Thermal Technologies, Inc. (“Company”), TROY III, Inc., a wholly-owned subsidiary of Company (“Merger Sub III”), Fluent, Inc. (“Fluent”), and, for certain
limited purposes described therein, Willis Stein & Partners II, L.P., Willis Stein & Partners III, L.P., Willis Stein & Partners Dutch, L.P., Willis Stein & Partners Dutch III-A, L.P., Willis Stein &
Partners Dutch III-B, L.P., and Willis Stein & Partners III-C, L.P. and Willis Stein & Partners II, L.P., as Stockholders’ Representative (the “Merger Agreement”); capitalized terms used but not defined herein
shall have the meanings ascribed thereto in the Merger Agreement; 
  
 WHEREAS, pursuant to the Merger Agreement the parties thereto will effect a business combination through, and in the following order, (a) the merger of Merger Sub with and into Holding, with Holding being the surviving corporation (the
“First Merger”), (b) the merger of Holding with and into Merger LLC, with Merger LLC being the surviving company (the “Second Merger”), (c) the merger of Merger Sub II with and into the Company, with the
Company being the surviving corporation (the “Third Merger”), and (d) the merger of Merger Sub III with and into Fluent with Fluent being the surviving corporation (the “Fourth Merger,” together with the First
Merger, the Second Merger and the Third Merger, the “Mergers”), each on the terms and conditions set forth in the Merger Agreement and in accordance with the Delaware General Corporation Law and, as applicable, the Delaware Limited
Liability Company Act; 
  
 WHEREAS, it is a condition to the
execution of the Merger Agreement that Parent grant certain registration rights provided in this Agreement to the Holders with respect to the shares of common stock, par value $.01 per share, of Parent (the “Common Shares”) to be
received by Holders in connection with the Mergers; and 
  
 WHEREAS, it is a condition to the consummation of the Mergers that this Agreement be effective at, and subject to the occurrence of, the Effective Times. 

 NOW, THEREFORE, in consideration of the foregoing, the mutual promises and agreements set forth herein,
and other valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 
  
 1. Certain Definitions. 
  
 As used in this Agreement, in addition to the other terms defined herein, the following capitalized defined terms shall have the following meanings:

  
 “Affiliate” shall mean, with respect to any
Person, a Person that directly, or indirectly though one or more intermediaries, controls, is controlled by, or is under common control with the first mentioned Person. 
  
 “Affiliate Holder” shall mean a Holder that is an Affiliate of Parent. 
  
 “Agreement” shall have the meaning set forth in the preamble
to this Agreement. 
  
 “Business Day” means any
day other than a day on which the SEC or the office of the Delaware Secretary of State is closed. 
  
 “Common Shares” shall have the meaning set forth in the recitals to this Agreement. 
  
 “Company” shall have the meaning set forth in the recitals
to this Agreement. 
  
 “Exchange Act” shall mean
the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder. 
  
 “Fair Market Value” shall mean the average of the per share closing price, or the closing sales bid if no sales were reported, of the
Common Shares as quoted by the NASDAQ National Market for the ten (10) consecutive trading days immediately preceding the date of calculation or if there are no sales or bids for such date, then the average of the ten (10) preceding
consecutive trading days for such sales or bids as reported in The Wall Street Journal or similar publication. 
  
 “Fluent” shall have the meaning set forth in the recitals to this Agreement. 
  
 “First Merger” shall have the meaning set forth in the
recitals to this Agreement. 
  
 “Fourth Merger”
shall have the meaning set forth in the recitals to this Agreement. 
  
 “Holder” or “Holders” shall have the meaning set forth in the preamble to this Agreement. 
  
 “Holding” shall have the meaning set forth in the recitals to this Agreement. 
  
 “Initiating Holders” shall have the meaning set forth in
Section 3(a) hereof. 
  
 “Indemnitee”
shall have the meaning set forth in Section 12 hereof. 
  
 “Lock-up Period” shall have the meaning set forth in Section 4(a) hereof. 
  

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 “Merger Agreement” shall have the meaning set forth in the recitals to this Agreement.

  
 “Merger LLC” shall have the meaning set forth
in the recitals to this Agreement. 
  
 “Merger
Sub” shall have the meaning set forth in the recitals to this Agreement. 
  
 “Merger Sub II” shall have the meaning set forth in the recitals to this Agreement. 
  
 “Merger Sub III” shall have the meaning set forth in the recitals to this Agreement. 
  
 “Mergers” shall have the meaning set forth in the recitals
to this Agreement. 
  
 “NASD” shall mean the
National Association of Securities Dealers, Inc. 
  
 “NASDAQ” shall mean the National Association of Securities Dealers Automated Quotations. 
  
 “Offering Blackout Period” shall have the meaning set forth in Section 5(c) hereof. 
  
 “Parent” shall have the meaning set forth in the preamble to
this Agreement. 
  
 “Parent Offering” shall have
the meaning set forth in Section 5(c) hereof. 
  
 “Person” shall mean an individual, partnership, corporation, trust, or unincorporated organization, or a government or agency or political subdivision thereof. 
  
 “Priority Limit” shall have the meaning set forth in Section 8 hereof. 
  
 “Prospectus” shall mean the prospectus included in a
Registration Statement, including any preliminary prospectus, as amended or supplemented by any prospectus supplement with respect to the terms of the offering of any portion of the Registrable Shares covered by such Registration Statement, and by
all other amendments and supplements to such prospectus, including post-effective amendments, and in each case including all material incorporated by reference therein. 
  
 “Registrable Shares” shall mean all Common Shares issued to Holders pursuant to the Mergers and any Common
Shares or other securities issued or issuable in respect of the Common Shares by way of spin-off, dividend or stock split or in connection with a combination of shares, reclassification, merger, consolidation or reorganization; provided,
however, that such Common Shares shall not include (i) Common Shares for which a Registration Statement relating to the sale thereof shall have become effective under the Securities Act and which have been disposed of, as applicable,
under such Registration Statement, and (ii) Common Shares sold pursuant to Rule 144. 
  
 “Registration Expenses” shall mean any and all expenses incident to the performance of or compliance with this Agreement, including without limitation: (a) all registration and filing fees;
(b) all fees and expenses associated with a required listing of the Registrable Shares on any securities exchange; (c) fees and expenses with respect to filings required to be made with the 

  

 3 

 
NASDAQ or the NASD; (d) fees and expenses of compliance with securities or “blue sky” laws (including reasonable fees and disbursements of
counsel for the underwriters or holders of securities in connection with blue sky qualifications of the securities and determination of their eligibility for investment under the laws of such jurisdictions); (e) printing expenses, messenger,
telephone and delivery expenses; (f) fees and disbursements of counsel for Parent and customary fees and expenses for independent certified public accountants retained by Parent (including the expenses of any comfort letters, or costs
associated with the delivery by independent certified public accountants of a comfort letter or comfort letters, if such comfort letter or comfort letters is required by the managing underwriter); (g) securities acts liability insurance, if
Parent so desires; (h) all internal expenses of Parent (including, without limitation, all salaries and expenses of its officers and employees performing legal or accounting duties); (i) the expense of any annual audit; (j) the fees
and expenses of any person, including special experts, retained by Parent; and (k) the reasonable out-of-pocket expenses of Holders, including, without limitation, the expenses of a single counsel for Holders, in connection with the
Registration Statements filed by Parent pursuant to Section 2(a) or Section 3(a) hereof (provided that in no event shall such expenses exceed $20,000 in connection with each such Registration Statement filed by Parent
pursuant to Section 2(a) or Section 3(a) hereof); provided, however, that Registration Expenses shall not include, and Parent shall not have any obligation to pay, any underwriting fees, discounts, or
commissions attributable to the sale of such Registrable Shares, or any legal fees and expenses of counsel to any Holder (except as specifically provided above) and any underwriter engaged by any Holder. 
  
 “Registration Statement” shall mean any registration
statement of Parent which covers the resale of any of the Registrable Shares under the Securities Act on an appropriate form, and all amendments and supplements to such registration statement, including post-effective amendments, in each case
including the Prospectus contained therein, all exhibits thereto and all materials incorporated by reference therein. 
  
 “Resale Shelf Registration Expiration Date” shall have the meaning set forth in Section 2(a) hereof. 
  
 “Resale Shelf Registration Statement” shall have the meaning
set forth in Section 2(a) hereof. 
  
 “Rule
144” means Rule 144 under the Securities Act (or any successor provision). 
  
 “SEC” shall mean the Securities and Exchange Commission. 
  
 “Second Merger” shall have the meaning set forth in the recitals to this Agreement. 
  
 “Securities Act” shall mean the Securities Act of 1933, as
amended, and the rules and regulations promulgated thereunder. 
  
 “Suspension Event” shall have the meaning set forth in Section 5(b) hereof. 
  
 “Third Merger” shall have the meaning set forth in the recitals to this Agreement. 
  
 “Underwritten Demand Notice” shall have the meaning set
forth in Section 3(a) hereof. 
  

 4 

 “Underwritten Demand Registration Statement” shall have the meaning set forth in
Section 3(a) hereof. 
  
 “WKSI” shall
mean a well-known seasoned issuer as defined under Rule 405 of the Securities Act. 
  
 2. Resale Registration Rights. 
  
 (a) Registration Statement Covering Resale of Registrable Shares. Parent shall file with the SEC, as early as possible following the Fourth Effective Time, but in any event within one (1) Business Day
thereafter, a shelf registration statement (a “Resale Shelf Registration Statement”) pursuant to Rule 415 under the Securities Act covering all of the Registrable Shares to enable the resale on a delayed or continuous basis of such
Registrable Shares by the Holders. The Resale Shelf Registration Statement shall be filed on Form S-3, and if Parent is eligible as a WKSI, the Resale Shelf Registration Statement shall utilize the automatic shelf registration process under Rule 415
and Rule 462. If Parent is not a WKSI or is otherwise ineligible to utilize the automatic shelf registration process, then Parent shall use its commercially reasonable efforts to have the Resale Shelf Registration Statement declared effective under
the Securities Act as expeditiously as practicable. Parent agrees to use its commercially reasonable efforts to maintain the effectiveness of the Resale Shelf Registration Statement, including by filing any necessary post-effective amendments and
prospectus supplements, or, alternatively, by filing new registration statements relating to the Registrable Shares as required by Rule 415 under the Securities Act, continuously until the date (the “Resale Shelf Registration Expiration
Date”) which is the earliest of (i) two (2) years following the date of effectiveness of the Resale Shelf Registration Statement, or (ii) the date on which all Registrable Shares have been disposed of by the Holders.

  
 (b) Notification and Distribution of
Materials. Parent shall notify the Holders of the effectiveness of any Registration Statement applicable to the Registrable Shares and shall furnish to the Holders, without charge, such number of copies of the Registration Statement (including
any amendments, supplements and exhibits), the Prospectus contained therein (including each preliminary prospectus and all related amendments and supplements) and any documents incorporated by reference in the Registration Statement or such other
documents as the Holders may reasonably request in order to facilitate the sale of the Registrable Shares in the manner described in the Registration Statement. 
  
 (c) Amendments and Supplements. Parent shall promptly prepare and file with the SEC from time to time
such amendments and supplements to the Registration Statement and Prospectus used in connection therewith as may be necessary to keep the Registration Statement effective and to comply with the provisions of the Securities Act with respect to the
disposition of all the Registrable Shares until the Resale Shelf Expiration Date. Upon five (5) Business Days’ notice, Parent shall file any supplement or post-effective amendment to the Registration Statement with respect to the plan of
distribution or a Holder’s ownership interests in his, her or its Registrable Shares that is reasonably necessary to permit the sale of such Holder’s Registrable Shares pursuant to the Registration Statement. 
  

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 (d) Notice of Certain Events. 
  
 (i) Parent shall promptly and in any event within three
(3) Business Days notify the Holders of, and confirm in writing, any request by the SEC for any amendment or supplement to, or additional information in connection with, any Registration Statement required to be prepared and filed hereunder (or
Prospectus relating thereto). Parent shall promptly and in any event within three (3) Business Days notify each Holder of, and confirm in writing, the filing of the Registration Statement or any Prospectus, amendment or supplement related
thereto or any post-effective amendment to the Registration Statement and the effectiveness of any post-effective amendment. 
  
 (ii) At any time when a Prospectus relating to the Registration Statement is required to be delivered under the Securities Act to a
transferee, Parent shall immediately notify the Holders (A) of the happening of any event as a result of which the Prospectus included in such Registration Statement, as then in effect, includes an untrue statement of a material fact or omits
to state any material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading, and (B) in such event, to suspend sales of Registrable Shares. In
such event, Parent shall promptly, and in any event within ten (10) Business Days, prepare and file a supplement to or an amendment of such Prospectus as may be necessary so that, as thereafter deemed delivered to the purchasers of Registrable
Shares sold under the Prospectus, 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 light of the circumstances
under which they are made, not misleading. Parent shall, if necessary, promptly, and in any event within ten (10) Business Days, amend the Registration Statement of which such Prospectus is a part to reflect such amendment or supplement.

  
 3. Underwritten Offering Rights. 
  
 (a) Subject to the conditions set forth in this Agreement,
at any time after the expiration of the Lock-Up Period, Parent shall, at the written request of any Holder or Holders (the “Initiating Holders”) to sell in an underwritten offering that number of Registrable Shares (i) with an
aggregate Fair Market Value of not less than $50,000,000 as of the date of such request or (ii) equal to thirty-three percent (33%) of the Registrable Shares (an “Underwritten Demand Notice”), cause to be prepared and
filed as soon as practicable after the date of such request by such Initiating Holder either (i) a registration statement or (ii) a (A) supplement, (B) post-effective amendment or (C) Form 8-K incorporated by reference to
the Resale Shelf Registration Statement in accordance with the rules under the Securities Act (or such other rule as is applicable to the proposed sale), in each case covering all or a portion of such Registrable Shares for the purpose of
effecting an underwritten offering of such Registrable Shares (an “Underwritten Demand Statement”); provided, however, that Parent shall not be required to effect an Underwritten Demand Statement pursuant to a request
under this Section 3(a) more than three (3) times for the Holders of Registrable Shares collectively; and provided, further, that no Holder shall be entitled to demand an Underwritten Demand Statement during a
Suspension Event or Offering Blackout Period. A registration requested pursuant to this Section 3(a) shall 

  

 6 

 
not count as one of the three (3) permitted Underwritten Demand Statements unless the Holders of Registrable Shares participating in such Underwritten
Demand Statement register at least seventy percent (70%) (by number of shares) of the amount of Registrable Shares requested to be included in such Underwritten Demand Statement. 
  
 (b) If Parent is eligible as a WKSI, the Underwritten Demand Statement shall automatically be effective upon
filing pursuant to Rule 462(e) and (f) under the Securities Act, if applicable. If Parent is not a WKSI or is otherwise ineligible to have the Underwritten Demand Statement be automatically effective upon filing, then Parent shall use its
commercially reasonable efforts to have the Underwritten Demand Statement declared effective under the Securities Act, if required, as expeditiously as practicable. Any Underwritten Demand Statement filed under this Section 3 shall
reflect such plan or method of distribution of the applicable securities as shall be designated by the managing underwriter. 
  
 (c) Pursuant to the exercise of each underwritten demand right, Parent shall have the right to postpone the filing or the effectiveness of
each Underwritten Demand Statement pursuant to this Section 3 as provided in Section 5. 
  
 (d) Notwithstanding anything to the contrary contained herein, no request may be made under this Section 3 within nine
(9) months after the effective date of an Underwritten Demand Statement filed by Parent pursuant to any Underwritten Demand Notice. 
  
 (e) Parent shall be entitled to select nationally recognized investment banks to act as the underwriters for such offering;
provided that, such selection shall be subject to the consent of the Initiating Holders (which consent shall not be unreasonably withheld). 
  
 (f) Parent shall make available members of the management of Parent and its Affiliates for reasonable assistance in selling efforts
related to such offering (including, without limitation, senior management attendance at due diligence meetings with underwriters and their counsel and road shows) and shall enter into underwriting agreements containing usual and customary terms and
conditions for such types of offerings and take all such other actions in connection therewith customarily undertaken by issuers in order to expedite or facilitate the disposition of such Registrable Shares, including without limitation:
(i) make such representations and warranties to the underwriters with respect to the business of Parent, the Registration Statement, the Prospectus and any documents, if any, incorporated or deemed to be incorporated by reference therein, as
may reasonably be required by the underwriters; (ii) obtain opinions of counsel to Parent and updates thereof, addressed to Holders and each of the underwriters; (iii) obtain “cold comfort” letters and updates thereof from the
independent certified public accountants of Parent addressed to Holders and each of the underwriters; (iv) ensure that, if an underwriting agreement is entered into, such agreement shall contain indemnification provisions and procedures that
are usual and customary for an offering of such size; (v) file with the SEC a final Prospectus with respect to the offering that satisfies the requirements of Section 10(a) of the Securities Act as soon as practicable after the
Registration Statement is declared effective and, in any event, prior to the first scheduled date for delivery by the Holders to the underwriters or purchasers of Registrable Securities in the offering and (vi) deliver such documents and
certificates as may be reasonably requested by the underwriters and 

  

 7 

 
their respective counsel to evidence the continued validity of the representations and warranties made pursuant to clause (i) of this
Section 3(f). 
  
 (g) In connection
with an Underwritten Demand Statement, if the managing underwriter of such offering determines that the number of securities sought to be offered should be limited due to market conditions, then the number of securities to be included in such
underwritten public offering shall be reduced to a number deemed satisfactory by such managing underwriter; provided, however, that securities shall be excluded in the following sequence: (i) first, Common Shares held by any
stockholders not having registration rights with regard to securities of Parent, (ii) second, Common Shares held by stockholders other than the holders of Registrable Shares having contractual, incidental “piggy back” rights to
include such securities in the registration statement, (iii) third, Common Shares sought to be registered by Parent for its own account and (iv) fourth, Registrable Shares, it being understood that no Common Shares shall be registered for
the account of Parent or any stockholder of Parent other than the Holders unless all Registrable Shares for which holders thereof have requested registration have been registered. If there is a reduction of some but not all of the number of
Registrable Shares pursuant to clauses (i) through (iv), such reduction shall be made on a pro rata basis (based upon the aggregate number of securities held by the holders in the applicable category and subject to the priorities set forth in
the preceding sentence). 
  
 4. Lock-up of Holders.

  
 (a) Each Holder hereby agrees that for a
period of six (6) months from the Fourth Effective Time (the “Lock-up Period”), without the prior written consent of Parent, he, she or it will not effect any sale or distribution of any Common Shares (including any
“short” sale, grant of an option to purchase, establishment of an open “put equivalent position” within the meaning of Rule 16a-1(h) under the Exchange Act, entrance in any swap or other arrangement that transfers all or a
portion of the economic consequences associated with the ownership of any Common Shares, or otherwise disposes of any Common Shares, directly or indirectly); provided that this Section 4(a) shall not prohibit each Holder from
selling or otherwise transferring (i) during the first three (3) months of the Lock-up Period that number of Common Shares equal to two and a half percent (2.5%) of such Holder’s Registrable Shares set forth on Exhibit A,
which shall be mutually agreed upon by the parties and attached hereto prior to Closing; and (ii) during the second three (3) months of the Lock-up Period that number of Common Shares equal to an additional five percent (5%) of such
Holder’s Registrable Shares set forth on the mutually agreed upon Exhibit A plus that number of Common Shares that could have been sold during the first three (3) month period, but were not; and provided,
further, that this Section 4(a) shall not prevent any Holder from negotiating for the sale of Common Shares where neither the obligation to sell nor the obligation to buy becomes binding until the expiration of the Lock-up Period.

  
 (b) Each Affiliate Holder hereby agrees to
adhere to (so long as such person is an Affiliate Holder) the terms of, Parent’s Insider Trading Procedures attached hereto as Schedule A, and to adhere to and acknowledge at the Fourth Effective Time, Parent’s Statement of Company
Policy on Insider Trading and Disclosure attached hereto as Schedule B. 
  

 8 

 5. Suspension of Registration Requirement; Restriction on Sales. 
  
 (a) Parent shall as promptly as possible notify each Holder
of, and confirm in writing, the issuance by the SEC of any stop order suspending the effectiveness of a Registration Statement with respect to such Holder’s Registrable Shares or the initiation of any proceedings for that purpose. Parent shall
use its reasonable best efforts to obtain the withdrawal of any order suspending the effectiveness of such a Registration Statement at the earliest possible moment. 
  
 (b) Notwithstanding anything to the contrary set forth in this Agreement, Parent’s obligation under
this Agreement to file, amend or supplement a Registration Statement, or to cause a Registration Statement, or any filings with any state securities commission, to become effective shall be suspended, for one or more reasonable periods not to exceed
the period described in Section 6 below, if the Board of Directors of Parent determines in good faith that such suspension is in the best interest of Parent and its stockholders in order to avoid the disclosure of information not
otherwise then required by law (in the absence of a registration or sales thereunder) to be publicly disclosed or for another valid business purpose (any such circumstances being hereinafter referred to as a “Suspension Event”).
Parent shall notify the Holders of the existence of any Suspension Event by promptly delivering to each Holder a certificate signed by an executive officer of Parent stating that a Suspension Event has occurred and is continuing. 
  
 (c) Subject to the terms of Section 6 below,
each Holder of Registrable Shares agrees, if requested by the managing underwriter or underwriters in a Parent-initiated underwritten offering (each, a “Parent Offering”), not to effect any public sale or distribution of any of the
Registrable Shares or request an Underwritten Demand Statement during the Offering Blackout Period. Parent shall use reasonable best efforts to give written notice to each Holder of any Offering Blackout Period at least fifteen (15) days prior
to the commencement of the Offering Blackout Period; provided, however, that if Parent is unable to provide fifteen (15) days advance notice of the commencement of the Offering Blackout Period, Parent shall provide as much notice
as reasonably possible, and provided further that the failure to timely provide such notice shall not in any way prohibit the commencement of an Offering Blackout Period. The “Offering Blackout Period” shall commence
on a date set by Parent, which shall be no earlier than the fifteenth (15th) day preceding the anticipated date
of pricing of such Parent Offering, and shall end on the earliest to occur of: 
  
 (i) ninety (90) days after the closing date of such Parent Offering; 
  
 (ii) the later to occur of sixty (60) days after the closing date of such Parent Offering or one
(1) day after the date on which the closing price of the class of equity securities sold by Parent in such Parent Offering shall have averaged for a period of twenty (20) consecutive trading days at least one hundred five percent
(105%) of the initial price to the public of such security in such Parent Offering; or 
  
 (iii) the date on which all directors and executive officers who have been required to enter into contractual lock-up or similar
restrictions on the sale of Common Shares owned by them may begin to effect public sales of Common Shares 

  

 9 

 
following such Parent Offering, including pursuant to waivers of the restrictions by the managing underwriter or underwriters; 
  
 provided, however, that this Subsection 5(c) shall not prohibit resales
of Registrable Shares by any Holder not subject to the registration requirements of the Securities Act (including, without limitation resale of Registrable Shares pursuant to Rule 144) and similarly exempt from any registration requirement under any
state “blue sky” or similar laws; provided, that the purchaser in any private resale shall agree in writing to be subject to such restrictions for the remaining portion of such period that would otherwise apply to such Holder.

  
 Subject to the terms of Section 6 below, each Holder agrees that,
following the effectiveness of any Registration Statement relating to Registrable Shares of such Holder, such Holder will not effect any sales of the Registrable Shares pursuant to such Registration Statement or any filings with any state securities
commission at any time after such Holder has received notice from Parent to suspend sales as a result of the occurrence or existence of any Suspension Event or so that Parent may correct or update the Registration Statement or such filing. The
Holders may recommence effecting sales of the Registrable Shares pursuant to the Registration Statement or such filings, and all other obligations which are suspended as a result of a Suspension Event shall no longer be so suspended, following
further notice to such effect from Parent, which notice shall be given by Parent not later than one (1) Business Day after the conclusion of any such Suspension Event. 
  
 6. Limitations on Suspension/Blackout Periods. Notwithstanding anything herein to the contrary, Parent covenants and
agrees that (a) Parent’s rights to suspend its obligation under this Agreement to file, amend or supplement a Registration Statement and maintain the effectiveness of any Registration Statement during the pendency of any Suspension Event,
(b) the Holders’ obligation to suspend public sales of Registrable Shares during one or more Offering Blackout Periods and (c) the Holders’ obligations to suspend sales of Registrable Shares pursuant to a Registration Statement
during the pendency of any Suspension Event, shall not, in the aggregate, cause the Holders to be required to suspend sales of Registrable Shares or relieve Parent of its obligation to file, amend or supplement and maintain the effectiveness of a
Registration Statement for longer than one hundred twenty (120) days during any twelve (12) month period. 
  
 7. Piggyback Registration. If Parent proposes to register in an underwritten offering any of its Common Shares under the Securities Act for sale to
the public (other than a registration effected solely to implement an employee benefit plan or a transaction to which Rule 145 of the Securities Act is applicable, or a registration statement on Form S-4, S-8 or another form not available for
registering the Registrable Shares for sale to the public, or in connection with an Underwritten Demand Statement), each such time it will give written notice at the applicable address of record to each Holder of Registrable Shares of its intention
to do so. Upon the written request of any of such Holders of the Registrable Shares, given within ten (10) Business Days after receipt by such Person of such notice, Parent shall, subject to the limits contained in this Section 7,
use its commercially reasonable efforts to cause all such Registrable Shares of the requesting Holders to be registered under the Securities Act and qualified for sale under any state securities or “blue sky” law, to the extent required to
permit such sale or other disposition of their Registrable Shares; provided, however, that if the managing underwriter of 

  

 10 

 
such offering determines that the number of securities sought to be offered should be limited due to market conditions, then the number of securities to be
included in such underwritten public offering shall be reduced to a number deemed necessary by such managing underwriter. Any shares eligible to be included pursuant to this Section 7 will be excluded in the following order of priority:
(a) Common Shares held by any stockholders not having any such contractual, incidental “piggyback” registration rights, (b) Common Shares held by any stockholders having contractual, incidental “piggyback” registration
rights pursuant to an agreement other than this Agreement, and (c) a portion of the Registrable Shares sought to be included by the Holders thereof as determined pro rata based upon the aggregate number of Registrable Shares held by such
Holders. 
  
 8. Priority Rights. Notwithstanding anything
in this Agreement to the contrary, until the first anniversary of the Fourth Effective Time, Parent shall have priority rights to sell an amount of Common Shares up to the lesser of (i) $150,000,000 or (ii) the sum of any indebtedness
incurred by Parent and Fluent in connection with the Mergers that remains outstanding, including, without limitation, the Fourth Merger Indebtedness (the “Priority Limit”) in any registered offering, whether initiated by Parent or
the Holders, with the Holders having priority rights to sell any Registrable Shares above the Priority Limit in such registered offering; provided that, in no event shall such registered offering count as an Underwritten Demand Statement
pursuant to Section 3(a) hereof. After the expiration of such one year period, the Holders shall have priority rights to sell the Registrable Shares pursuant to Section 3 hereof. 
  
 9. State Securities Laws. Subject to the conditions set forth in this
Agreement, Parent shall, in connection with the filing of any Registration Statement hereunder, file such documents as may be necessary to register or qualify the Registrable Shares under the securities or “blue sky” laws of such states as
the Holders may reasonably request, and Parent shall use its commercially reasonable efforts to cause such filings to become effective in a timely manner; provided, however, that Parent shall not be obligated to qualify as a foreign
corporation to do business under the laws of any such state in which it is not then qualified or to file any general consent to service of process in any such state. Once effective, Parent shall use its commercially reasonable efforts to keep such
filings effective until the earlier of (a) such time as all of the Registrable Shares have been disposed of in accordance with the intended methods of disposition by the Holders as set forth in the applicable Registration Statement, (b) in
the case of a particular state, the applicable Holders have notified Parent that they no longer require an effective filing in such state in accordance with their original request for filing or (c) the date on which the applicable Registration
Statement ceases to be effective. 
  
 10. Listing. Parent
will cause all Registrable Shares to be listed or otherwise eligible for full trading privileges on the principal national securities exchange (currently NASDAQ) on which the Common Shares are then listed or quoted, not later than the date on which
the Registrable Shares are issued by Parent to a Holder. Parent will use commercially reasonable efforts to continue the listing or trading privilege for all Registrable Shares on such exchange. Parent will as promptly as practicable notify the
Holders of, and confirm in writing, the delisting of the Common Shares by such exchange. 
  

 11 

 11. Expenses. Parent shall bear all Registration Expenses incurred in connection with the
registration of the Registrable Shares pursuant to this Agreement and Parent’s performance of its other obligations under the terms of this Agreement. The Holders shall bear all underwriting fees, discounts or commissions attributable to the
sale of securities by the Holders, or any legal fees and expenses of counsel to the Holders (except as otherwise specifically provided herein) and any underwriter engaged by Holders and all other expenses incurred in connection with the performance
by the Holders of their obligations under the terms of this Agreement. 
  
 12. Indemnification by Parent. Parent agrees to indemnify the Holders and, if a Holder is a person other than an individual, such Holder’s officers, directors, employees, agents, representatives and Affiliates, and each person
or entity, if any, that controls a Holder within the meaning of the Securities Act, and each other person or entity, if any, subject to liability because of his, her or its connection with a Holder (each, an “Indemnitee”), against
any and all losses, claims, damages, actions, liabilities, costs and expenses (including without limitation reasonable fees, expenses and disbursements of attorneys and other professionals), joint or several, arising out of or based upon any
violation by Parent of any rule or regulation promulgated under the Securities Act applicable to Parent and relating to action or inaction required of Parent under the terms of this Agreement or in connection with any Registration Statement or
Prospectus, or upon any untrue or alleged untrue statement of material fact contained in any Registration Statement or any Prospectus, or any omission or alleged omission to state therein a material fact required to be stated therein or necessary to
make the statements therein, in light of the circumstances under which they were made, not misleading; provided, that Parent shall not be liable to such Indemnitee or any person who participates as an underwriter in the offering or sale of
Registrable Shares or any other person, if any, who controls such underwriter within the meaning of the Securities Act, in any such case to the extent that any such loss, claim, damage, liability (or action or proceeding in respect thereof) or
expense arises out of or is based upon (a) an untrue statement or alleged untrue statement or omission or alleged omission made in such Registration Statement or in any such Prospectus in reliance upon and in conformity with information
regarding such Indemnitee or its plan of distribution or ownership interests which was furnished in writing to Parent for use in connection with such Registration Statement or the Prospectus contained therein by such Indemnitee or (b) any
Holder’s failure to send or give a copy of the final, amended or supplemented prospectus furnished to the Holders by Parent at or prior to the time such action is required by the Securities Act to the person claiming an untrue statement or
alleged untrue statement or omission or alleged omission if such statement or omission was corrected in such final amended or supplemented Prospectus. 
  
 13. Covenants of Holders. 
  
 (a) Each of the Holders hereby agrees (i) to cooperate with Parent and to furnish to Parent all such information concerning its plan
of distribution and ownership interests with respect to its Registrable Shares in connection with the preparation of a Registration Statement with respect to such Holder’s Registrable Shares and any filings with any state securities commissions
as Parent may reasonably request, (ii) if Parent complies with its obligations to timely file the final Prospectus pursuant to Section 3(f)(v) of this Agreement, to deliver or cause delivery of the Prospectus contained in such
Registration Statement to any purchaser of the shares covered by such Registration Statement from such Holder if the Holder is 

  

 12 

 
required by the Securities Act or the rules and regulations thereunder to deliver the Prospectus in connection with the sale of shares to such purchaser;
provided, however, that no delivery of the Prospectus shall be required of any Holder pursuant to this subsection (ii) if such Prospectus is deemed delivered pursuant to Rule 172 of the Securities Act, and (iii) to indemnify
Parent, its officers, directors, employees, agents, representatives and Affiliates, and each person, if any, who controls Parent within the meaning of the Securities Act, and each other person or entity, if any, subject to liability because of his,
her or its connection with Parent, against any and all losses, claims, damages, actions, liabilities, costs and expenses arising out of or based upon (A) any untrue statement or alleged untrue statement of material fact contained in either such
Registration Statement or the Prospectus contained therein, or any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which
they were made, not misleading, if and to the extent that such statement or omission occurs from reliance upon and in conformity with written information regarding such Holder, his, her or its plan of distribution or his, her or its ownership
interests, which was furnished to Parent in writing by such Holder for use therein unless such statement or omission was corrected in writing to Parent prior to the date one day prior to the date of the final Prospectus (as supplemented or amended,
as the case may be) or (B) if Parent complies with its obligations to timely file the final Prospectus pursuant to Section 3(f)(v) of this Agreement, the failure by such Holder to deliver or cause to be delivered the Prospectus
contained in such Registration Statement (as amended or supplemented, if applicable) furnished by Parent to the Holder to any purchaser of the shares covered by such Registration Statement from the Holder through no fault of Parent if the Holder is
required by the Securities Act or the rules and regulations thereunder to deliver the Prospectus in connection with the sale of shares to such purchaser; provided that, for purposes of this subsection (B), such failure shall not include in
any event any deemed delivery of such Prospectus pursuant to Rule 172 of the Securities Act. 
  
 (b) In addition, other than through open market sales or sales pursuant to a Registration Statement, each Holder hereby agrees not to sell
any Common Shares to a third party if (i) such party is a direct or indirect competitor of Parent listed on a schedule to be mutually agreed upon by Parent and Holders of a majority of the aggregate of the outstanding Registrable Shares at the
Closing or (ii) such sale would result in such third party beneficially owning ten percent (10%) or more of the issued and outstanding voting securities of Parent; provided, however, that this provision shall not apply to
third parties who can legally report their ownership of equity securities on Schedule 13G under the Exchange Act or any successor provision thereto. 
  
 14. Indemnification Procedures. 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 hereunder, but the failure of any indemnified party to provide such notice shall not relieve the indemnifying party of its obligations
hereunder, except to the extent the indemnifying party is materially prejudiced thereby and shall not relieve the indemnifying party from any liability which it may have to any indemnified party otherwise than hereunder. In case any action or
proceeding is brought against an indemnified party and it shall notify the indemnifying party of the commencement thereof, 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 may exist in respect of such claim, to 

  

 13 

 
assume the defense thereof (alone or 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 (provided that in connection with such assumption the indemnifying parties provide the indemnified parties a
full release of any costs or other expenses in connection therewith), 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; provided, however, that (a) if the indemnifying party fails to take reasonable steps necessary to defend diligently the action or proceeding within twenty (20) Business Days after receiving notice from such
indemnified party that the indemnified party believes it has failed to do so; or (b) if such indemnified party who is a defendant in any action or proceeding which is also brought against the indemnifying party shall have reasonably concluded,
based on the advice of counsel, that there may be one or more legal defenses available to such indemnified party which are not available to the indemnifying party; or (c) 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) and the indemnifying party shall be liable for any expenses therefor. No indemnifying party shall, without the written consent of the indemnified party (which shall not be unreasonably withheld), effect the
settlement or compromise of, or consent to the entry of any judgment with respect to, any pending or (to the knowledge of the indemnifying party) 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 (i) includes an unconditional release of the indemnified party from all liability arising out of such
action or claim, (ii) does not include a statement as to or an admission of fault, culpability or a failure to act, by or on behalf of any indemnified party and (iii) does not and is not likely to materially adversely effect the
indemnified party. 
  
 15. Additional Shares. Except as
otherwise provided in this Agreement, Parent, at its option, may register, under any Registration Statement and any filings with any state securities commissions filed pursuant to this Agreement, any number of unissued, treasury or other Common
Shares of or owned by Parent and any of its Subsidiaries or any Common Shares or other securities of Parent owned by any other security holder or security holders of Parent. 
  
 16. Contribution. 
  
 (a) If the indemnification provided for in Section 12 and Section 13 is unavailable to an indemnified party with
respect to any losses, claims, damages, actions, liabilities, costs or expenses referred to therein or is insufficient to hold the indemnified party harmless as contemplated therein, then the indemnifying party, in lieu of indemnifying such
indemnified party, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages, actions, liabilities, costs or expenses 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, in connection with the statements or omissions which resulted in such losses, claims, damages, actions, liabilities, costs or expenses as well as any other
relevant equitable considerations. The relative fault of the indemnifying party, on the one 

  

 14 

 
hand, and of the indemnified party, on the other hand, shall be determined by reference to, among other factors, whether the untrue or alleged untrue
statement of a material fact or omission to state a material fact relates to information supplied by the indemnifying party or by the indemnified party and the parties’ relative intent, knowledge, access to information and opportunity to
correct or prevent such statement or omission; provided, however, that in no event shall the obligation of any indemnifying party to contribute under this Section 16 exceed the amount that such indemnifying party would have
been obligated to pay by way of indemnification if the indemnification provided for under Section 12 or Section 13 hereof had been available under the circumstances. 
  
 (b) Parent and the Holders agree that it would not be just
and equitable if contribution pursuant to this Section 16 were determined by pro rata allocation or by any other method of allocation that does not take account of the equitable considerations referred to in the immediately
preceding paragraph. 
  
 (c) Notwithstanding the
provisions of this Section 16, no Holder shall be required to contribute any amount in excess of the amount by which the gross proceeds from the sale of Registrable Shares exceeds the amount of any damages that such Holder has otherwise
been required to pay by reason of such untrue or alleged untrue statement or omission. No indemnified party guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution
from any indemnifying party who was not guilty of such fraudulent misrepresentation. 
  
 17. No Other Obligation to Register. Except as otherwise expressly provided in this Agreement, Parent shall have no obligation to the Holders to register the Registrable Shares under the Securities Act.

  
 18. Amendments and Waivers. The provisions of this
Agreement may not be amended, modified, or supplemented or waived without the prior written consent of Parent and Holders of a majority of the aggregate of the outstanding Registrable Shares. 
  
 19. Notices. Except as set forth below, all notices and other
communications provided for or permitted hereunder shall be in writing and shall be deemed to have been duly given when and if delivered personally or sent by facsimile (with respect to notice by facsimile, on a Business Day between the hours of
8:00 a.m. and 5:00 p.m., New York time), five (5) Business Days after being sent if mailed by registered or certified mail (return receipt requested), postage prepaid, or upon receipt if sent by courier or overnight delivery service to the
respective parties at the following addresses (or at such other address for any party as shall be specified by like notice, provided that notices of a change of address shall be effective only upon receipt thereof), and further
provided that in case of directions to amend the Registration Statement pursuant to Section 2(d) or Section 13(a), the Holder must confirm such notice in writing by overnight express delivery with confirmation of
receipt: 
  

 15 

 If to Parent: 
  

ANSYS, Inc. 
 275 Technology Drive

 Southpointe 
 Canonsburg, PA
15317 
 Attn: Sheila S. DiNardo, Esq. 
 Facsimile: (724) 514-3609 
  
 with a copy to:

  
 Goodwin Procter LLP 
 Exchange Place 
 Boston, MA 02109-2881

 Attn: John R. LeClaire 
          Joseph L. Johnson III 
 Facsimile: (617) 523-1231 
  
 If to the Holders: 
  
 At their respective address set forth in the Merger Agreement or on any
signature page to this Agreement (together with any copies specified in the Merger Agreement or such signature page). 
  
 20. Successors and Assigns. This Agreement shall be binding upon the parties hereto and their respective successors and assigns and shall inure to
the benefit of the parties hereto and their respective successors and assigns. If any successor, assignee or transferee of any Holder shall acquire Registrable Shares, in any manner, whether by operation of law or otherwise, (a) such successor,
assignee or transferee shall be entitled to all of the benefits of a “Holder” under this Agreement and (b) such Registrable Shares shall be held subject to all of the terms of this Agreement, and by taking and holding such Registrable
Shares such Person shall be conclusively deemed to have agreed to be bound by all of the terms and provisions hereof. 
  
 21. Counterparts. This Agreement may be executed in any number of counterparts and by the parties hereto in separate counterparts, each of which
when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. 
  
 22. Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware applicable to contracts
made and to be performed wholly within said State. 
  
 23.
Severability. In the event that any one or more of the provisions contained herein, or the application thereof in any circumstances, is held invalid, illegal or unenforceable in any respect for any reason, the validity, legality and
enforceability of any such provision in every other respect and of the remaining provisions contained herein shall not be in any way impaired 

  

 16 

 
thereby, it being intended that all of the rights and privileges of the parties hereto shall be enforceable to the fullest extent permitted by law.

  
 24. Entire Agreement. This Agreement, the Exhibit and
the Schedules attached hereto are intended by the parties as a final expression of their agreement and intended to be the complete and exclusive statement of the agreement and understanding of the parties hereto in respect of the subject matter
contained herein. There are no restrictions, promises, warranties or undertakings, other than those set forth or referred to herein, with respect to such subject matter. This Agreement supersedes all prior agreements and understandings between the
parties with respect to such subject matter. 
  
 25. Drafting
Conventions; No Construction Against Drafter. 
  
 (a) The headings in this Agreement are provided for convenience and do not affect its meaning. The words “include”, “includes” and “including” are to be read as if they were followed by the phrase “without
limitation”. Unless specified otherwise, any reference to an agreement means that agreement as amended or supplemented, subject to any restrictions on amendment contained in such agreement. Unless specified otherwise, any reference to a statute
or regulation means that statute or regulation as amended or supplemented from time to time and any corresponding provisions of successor statutes or regulations. If any date specified in this Agreement as a date for taking action falls on a day
that is not a business day, then that action may be taken on the next business day. Unless specified otherwise, the words “party” and “parties” refer only to a named party to this Agreement. 
  
 (b) The parties have participated jointly with their
respective counsel in the negotiation and drafting of this Agreement. If an ambiguity or question of intent or interpretation arises, this Agreement is to be construed as if drafted jointly by the parties and there is to be no presumption or burden
of proof favoring or disfavoring any party because of the authorship of any provision of this Agreement. 
  
 [The Remainder of This Page Has Been Intentionally Left Blank.] 
  

 17 

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

			
	ANSYS, INC.
		
	 By:
	 	 /s/ James E. Cashman III

	 	 	 Name: James E. Cashman III

	 	 	 Title: President and Chief Executive Officer

	
	HOLDERS
	
	 WILLIS STEIN & PARTNERS III, L.P.
 WILLIS STEIN & PARTNERS DUTCH III-A, L.P.
 WILLIS STEIN & PARTNERS DUTCH III-B, L.P.
 WILLIS STEIN & PARTNERS III-C, L.P.

		
	 By:
	 	 Willis Stein & Partners Management III, L.P.

	 	 	 Its General Partner

		
	 By:
	 	 Willis Stein & Partners Management III, LLC

	 	 	 Its General Partner

		
	 By:
	 	 /s/ Daniel H. Blumenthal

	 	 	 Name: Daniel H. Blumenthal

	 	 	 Title: Managing Partner

	
	 WILLIS STEIN & PARTNERS II, L.P.
 WILLIS STEIN & PARTNERS DUTCH, L.P.

		
	 By:
	 	 Willis Stein & Partners Management II, L.P.

	 	 	 Its General Partner

		
	 By:
	 	 Willis Stein & Partners Management II, LLC

	 	 	 Its General Partner

		
	 By:
	 	 /s/ Daniel H. Blumenthal

	 	 	 Name: Daniel H. Blumenthal

	 	 	 Title: Managing Partner

  
 REGISTRATION RIGHTS AGREEMENT

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