Document:

EX-4.1

 Exhibit 4.1 

DESIGNATION OF RIGHTS AND PREFERENCES OF 3.00% SERIES B 

CONVERTIBLE PREFERRED STOCK 

SECTION 1. Designation and Number of Shares. There is hereby created out of the authorized and unissued shares of Preferred
Stock of the Corporation a series of Preferred Stock designated as the “3.00% Series B Convertible Preferred Stock” (the “Series B Preferred Stock”). The authorized number of shares of Series B Preferred Stock shall
be 600,000. 
 SECTION 2. Definitions. As used herein with respect to Series B Preferred Stock: 

(a) “Acquisition” means any acquisition by the Corporation or any of the Corporation’s direct or indirect
wholly-owned subsidiaries, in a single transaction or a series of transactions, whether by purchase, merger or otherwise, of all or substantially all of the assets of, all the equity interests in, or a business line, unit or division of, any
Person. 
 (b) “Agent Members” shall have the meaning set forth in Section 21(a). 

(c) “Articles” means the Corporation’s Amended and Restated Articles of Incorporation, as it may be amended from
time to time. 
 (d) “Authorized Officers” means the Chairman of the Board of Directors, the Chief Executive
Officer, the President, any Executive Vice President, Senior Vice President or Vice President, the Treasurer or the Secretary of the Corporation. 

(e) “Board of Directors” means the board of directors of the Corporation or, with respect to any action to be taken by
such board, any committee of such board duly authorized to take such action. 
 (f) “Business Day” means any
day except Saturday, Sunday and any day on which banking institutions in the State of New York generally are authorized or required by law or other governmental action to close or be closed. 

(g) “Bylaws” means the bylaws of the Corporation, as they may be amended from time to time. 

(h) “Certificate of Designation” means this Certificate of Designation of Rights and Preferences of 3.00% Series B
Convertible Preferred Stock, as it may be amended from time to time. 
 (i) “Change of Control” shall have the
meaning set forth in Section 7(c)(i). 
 (j) “Common Stock” means the common stock, par value $0.00001 per share, of
the Corporation. 
 (k) “Conversion Agent” means the Transfer Agent. 

(l) “Corporation” means WMI Holdings Corp., a Washington corporation. 

 (m) “DTC” means The Depository Trust Company. 

(n) “Escrow Agent” means Citibank, N.A., a national banking association organized and existing under the laws of the
United States of America and acting through its Agency and Trust Division and solely in its capacity as escrow agent under the Escrow Agreement. 

(o) “Escrow Agreement” means the Escrow Agreement, dated as of January 5, 2015, by and among the Corporation and
the Escrow Agent. 
 (p) “Event of Nonpayment” shall have the meaning set forth in Section 15(b). 

(q) “Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated
thereunder. 
 (r) “Exchange Property” shall have the meaning set forth in Section 11(e). 

(s) “Expiration Date” shall have the meaning set forth in Section 11(a)(ii). 

(t) “Expiration Time” shall have the meaning set forth in Section 11(a)(ii). 

(u) “Fixed Conversion Price” shall have the meaning set forth in Section 11(a). 

(v) “Floor Price” shall have the meaning set forth in Section 5(a)(ii). 

(w) “Holder” means the Person in whose name shares of the Series B Preferred Stock are registered. 

(x) “Initial Conversion Price” shall have the meaning set forth in Section 5(a)(i). 

(y) “Issue Date” means January 5, 2015, which is the original issue date of the Series B Preferred Stock.

 (z) “Junior Stock” means the Common Stock and, if issued, the junior participating preferred stock of the
Corporation and each other class of capital stock or series of Preferred Stock of the Corporation established after the Issue Date, the terms of which do not expressly provide that such class or series ranks senior to, or on a parity with, the
Series B Preferred Stock as to dividend rights and rights upon liquidation, dissolution or winding up of the Corporation. 

(aa) “Liquidation Preference” shall have the meaning set forth in Section 12(a). 

(bb) “Mandatory Conversion” means a conversion of the Series B Preferred Stock to Common Stock pursuant to
Section 5. 
 (cc) “Mandatory Conversion Date” shall have the meaning set forth in Section 5(a).

 (dd) “Mandatory Redemption Date” shall have the meaning set forth in Section 6(a). 

(ee) “Mandatory Redemption Price” shall have the meaning set forth in Section 6(a). 

  
 2 

 (ff) “Market Disruption Event” means a failure by the Relevant Stock
Exchange to open for trading during its regular trading session or the occurrence or existence prior to 1:00 p.m., New York City time, on any scheduled Trading Day for Common Stock for more than one half-hour period in the aggregate during regular
trading hours of any suspension or limitation imposed on trading (by reason of movements in price exceeding limits permitted by the Relevant Stock Exchange or otherwise) in Common Stock or in any options contracts or futures contracts relating to
Common Stock. 
 (gg) “Non-U.S. Holder” means a Holder that is not treated as a United States person for U.S.
federal income tax purposes as defined under Section 7701(a)(30) of the Internal Revenue Code of 1986, as amended from time to time. 

(hh) “Offering” means the offering of the Series B Preferred Stock which closed on the Issue Date. 

(ii) “Officer’s Certificate” means a certificate of the Corporation that is signed on behalf of the Corporation
by an Authorized Officer. 
 (jj) “Parity Stock” means any class of capital stock or series of Preferred
Stock of the Corporation now existing (including the Series A Preferred Stock) or established after the Issue Date, the terms of which expressly provide that such class or series will rank equally with the Series B Preferred Stock as to dividend
rights and rights upon liquidation, dissolution or winding up of the Corporation, in each case without regard to whether dividends accrue cumulatively or non-cumulatively. 

(kk) “Partial Conversion” shall have the meaning set forth in Section 5(d). 

(ll) “Participating Dividends” shall have the meaning set forth in Section 4(a). 

(mm) “Paying Agent” means the Transfer Agent. 

(nn) “Person” means a legal person, including any individual, corporation, estate, partnership, joint venture,
association, joint-stock company, limited liability company or trust. 
 (oo) “Post-Closing Covenant Default”
shall have the meaning set forth in Section 7(c)(ii). 
 (pp) “Post-Closing Covenants” means the
covenants by the Corporation that within 180 days of the Issue Date, the Corporation shall (i) reincorporate from Washington to Delaware, (ii) amend its Articles to provide that the number of members of the Board of Directors be increased
from seven to up to eleven directors and (iii) authorize a number of shares of Common Stock sufficient for Mandatory Conversion of all shares of the Series B Preferred Stock (collectively, the “Reincorporation”) 

(qq) “Preferred Director” or “Preferred Directors” shall have the meaning set forth in
Section 15(b). 

  
 3 

 (rr) “Preferred Stock” means any and all series of preferred stock of the
Corporation, including, without limitation, the Series B Preferred Stock. 
 (ss) “Purchased Shares” shall
have the meaning set forth in Section 11(a)(ii). 
 (tt) “Put Event Corporation Notice” shall have the
meaning set forth in Section 7(d). 
 (uu) “Put Event Repurchase Date” shall have the meaning set forth
in Section 7(a). 
 (vv) “Put Event Repurchase Offer” shall have the meaning set forth in
Section 7(a). 
 (ww) “Put Event” shall have the meaning set forth in Section 7(c). 

(xx) “Qualified Acquisition” means an Acquisition that, taken together with prior Acquisitions (if any), collectively
utilize aggregate net proceeds of the Offering in the amount of $450.0 million. 
 (yy) “Record Holders”
means, as to any day, the Holders of record of the Series B Preferred Stock as they appear on the stock register of the Corporation at 5:00 p.m., New York City time, on such day. 

(zz) “Registrar” means the Transfer Agent. 

(aaa) “Regular Dividends” shall have the meaning set forth in Section 3(a). 

(bbb) “Regular Dividend Payment Date” means March 15, June 15, September 15 and
December 15 of each year, commencing on March 15, 2015. 
 (ccc) “Regular Dividend Period” means
the period commencing on, and including, a Regular Dividend Payment Date (or if no Regular Dividend Payment Date has occurred, commencing on, and including, the Issue Date), and ending on, and including, the day immediately preceding the next
succeeding Regular Dividend Payment Date. 
 (ddd) “Regular Record Date” means with respect to payment of
Regular Dividends on the Series B Preferred Stock, the 1st calendar day of the month in which the relevant Regular Dividend Payment Date falls or such other record date fixed by the Board of Directors that is not more than 60 nor less than 10 days
prior to such Regular Dividend Payment Date, but only to the extent a Regular Dividend has been declared to be payable on such Regular Dividend Payment Date. The Regular Record Date shall apply regardless of whether such date is a Business Day.

 (eee) “Reincorporation” shall have the meaning set forth in the definition of Post-Closing Covenants.

 (fff) “Relevant Stock Exchange” means the principal U.S. national or regional securities exchange on which
Common Stock is then listed. 
 (ggg) “Remainder Conversion Date” shall have the meaning set forth in Section
5(e). 

  
 4 

 (hhh) “Reorganization Event” shall have the meaning set forth in
Section 11(e). 
 (iii) “Securities Act” means the Securities Act of 1933, as amended, and the rules and
regulations promulgated thereunder. 
 (jjj) “Senior Stock” means any class of capital stock or series of
Preferred Stock of the Corporation established after the Issue Date, the terms of which expressly provide that such class or series will rank senior to the Series B Preferred Stock as to dividend rights and rights upon the liquidation, dissolution
or winding up of the Corporation. 
 (kkk) “Series A Preferred Stock” means the Series A Convertible
Preferred Stock of the Corporation, par value $0.00001 per share. 
 (lll) “Series B Preferred Stock” shall
have the meaning set forth in Section 1. 
 (mmm) “Subsidiary” means, with respect to the Corporation or
any other Person, any corporation, association, partnership or other business entity of which more than 50% of the total voting power of shares of capital stock or other interests (including partnership interests) entitled (without regard to the
occurrence of any contingency) to vote in the election of directors, managers, general partners or trustees thereof is at the time owned or controlled, directly or indirectly, by (i) such Person, (ii) such Person and one or more
Subsidiaries of such Person or (iii) one or more Subsidiaries of such Person. 
 (nnn) “Substantial
Holder” shall have the meaning set forth in Article VI of the Articles. 
 (ooo) “Total Liquidation
Preference” shall have the meaning set forth in Section 12(a). 
 (ppp) “Trading Day” means a day on
which there is no Market Disruption Event and trading in Common Stock generally occurs on the Relevant Stock Exchange or, if Common Stock is not then listed on any Relevant Stock Exchange, on the principal other market on which Common Stock is then
listed or admitted for trading. If Common Stock is not so listed or admitted for trading, “Trading Day” means a Business Day. 

(qqq) “Transfer Agent” means, initially, Computershare Trust Company, N.A. unless a successor transfer agent is
appointed pursuant to Section 20 and, thereafter, means such successor. The foregoing sentence shall likewise apply to any such subsequent successor or successors. 

(rrr) “Unconverted Shares” shall have the meaning set forth in Section 5(d). 

(sss) “Volume Weighted Average Price” or “VWAP” per share of Common Stock means, on any Trading Day,
the price per share of the Common Stock as displayed under the heading “Bloomberg VWAP” on Bloomberg (or any successor service) page WMIH US <Equity> AQR (or its equivalent successor if such page is not available) in respect of the
period from the scheduled open to 4:00 p.m., New York City time, on such Trading Day; or, if such price is not available, the market value per share of Common Stock on such Trading Day as determined, using a volume-weighted average method, by a
nationally recognized independent investment banking firm retained by the Corporation for such purpose. 

  
 5 

 SECTION 3. Regular Dividends. (a) Holders of shares of
outstanding Series B Preferred Stock shall be entitled to receive, when, as and if declared by the Board of Directors, out of funds of the Corporation lawfully available for payment, cumulative regular dividends at an annual rate of 3.00% of
the Liquidation Preference per share of Series B Preferred Stock, payable quarterly on each Regular Dividend Payment Date, in cash (subject to Section 5(c) below) (the “Regular Dividends”). Regular Dividends shall accumulate
from the most recent date as to which Regular Dividends shall have been paid or, if no Regular Dividends have been paid, from the Issue Date, whether or not in any Regular Dividend Period or Regular Dividend Periods, as the case may be, there have
been funds of the Corporation lawfully available for the payment of such Regular Dividends. Regular Dividends shall be payable on a Regular Dividend Payment Date to Holders that are Record Holders on the Regular Record Date immediately preceding
such Regular Dividend Payment Date, but only to the extent a Regular Dividend has been declared by the Board of Directors to be payable on such Regular Dividend Payment Date, except that Regular Dividends payable on each Mandatory Conversion Date
will be payable to the Holders to the extent the Corporation is lawfully permitted to pay such Regular Dividends at such time. If any Regular Dividend Payment Date is not a Business Day, the Regular Dividend payable on such date shall be paid on the
next Business Day without any adjustment, interest or other penalty in respect of such delay. Regular Dividends payable on shares of Series B Preferred Stock for each full Regular Dividend Period shall be computed by dividing the annual dividend
rate by four. Regular Dividends payable on shares of Series B Preferred Stock for any period other than a full Regular Dividend Period shall be based on the number of days elapsed during such Regular Dividend Period and computed on the basis of a
360-day year consisting of twelve 30-day months. Accrued but unpaid Regular Dividends will continue to cumulate at the rate of 3.00% per annum. No interest, or sum of money in lieu of interest, shall be payable in respect of any dividend
payment or payments on the Series B Preferred Stock which may be in arrears. 
 (b) No Regular Dividend shall be declared or paid
upon, or any sum set apart for the payment of dividends upon, any outstanding share of the Series B Preferred Stock with respect to any Regular Dividend Period unless all Regular Dividends for all preceding Regular Dividend Periods shall have been
declared and paid, or declared and a sufficient sum has been set apart for the payment of such dividends, upon all outstanding shares of Series B Preferred Stock. 

(c) So long as any share of Series B Preferred Stock remains outstanding: 

(i) no dividend or distribution shall be declared or paid on the Common Stock or any other shares of Junior Stock, except
dividends payable solely in shares of Common Stock; 
 (ii) no dividend or distribution shall be declared or paid on Parity
Stock, except as set forth in this Section 3(c); and 

  
 6 

 (iii) no Common Stock, Junior Stock or Parity Stock shall be, directly or
indirectly, purchased, redeemed or otherwise acquired for consideration by the Corporation or any of its Subsidiaries, 
 unless all accrued and unpaid
Regular Dividends for all past Regular Dividend Periods, including the latest completed Regular Dividend Period, on all outstanding shares of Series B Preferred Stock have been or are contemporaneously declared and paid in full. 

The foregoing limitations shall not apply to: 

(i) redemptions, purchases or other acquisitions of shares of Common Stock or other Junior Stock in connection with any
employment contract, any employee benefit plan or other similar arrangements with or for the benefit of any one or more employees, officers or directors in the ordinary course of business; 

(ii) any dividends or distributions of rights or Junior Stock in connection with a shareholders’ rights plan or any
redemption or repurchase of rights pursuant to any shareholders’ rights plan; and 
 (iii) the exchange or conversion of
Junior Stock for or into other Junior Stock or of Parity Stock for or into other Parity Stock (with the same or lesser aggregate liquidation preference) or Junior Stock and, in each case, the payment of cash solely in lieu of fractional shares. 

When Regular Dividends are not paid (or declared and a sum sufficient for payment thereof set aside for the benefit of the Holders
thereof on the applicable Regular Record Date) on any Regular Dividend Payment Date (or, in the case of Parity Stock having dividend payment dates different from the Regular Dividend Payment Dates, on a dividend payment date falling within a Regular
Dividend Period related to such Regular Dividend Payment Date) in full upon the Series B Preferred Stock and any shares of Parity Stock, all Regular Dividends declared on Series B Preferred Stock and all such Parity Stock and payable on such Regular
Dividend Payment Date (or, in the case of Parity Stock having dividend payment dates different from the Regular Dividend Payment Dates, on a dividend payment date falling within the Regular Dividend Period related to such Regular Dividend Payment
Date) shall be declared and paid pro rata so that the respective amounts of such dividends so declared shall bear the same ratio as all accrued and unpaid dividends on the shares of Series B Preferred Stock and all Parity Stock payable on
such Regular Dividend Payment Date (or, in the case of Parity Stock having dividend payment dates different from the Regular Dividend Payment Dates, on a dividend payment date falling within the Regular Dividend Period related to such Regular
Dividend Payment Date) (subject to their having been declared by the Board of Directors out of funds of the Corporation lawfully available and including, in the case of Parity Stock that bears cumulative dividends, all accrued but unpaid dividends)
bear to each other. For the purposes of this calculation, with respect to non-cumulative Parity Stock, the full amount of dividends that would be payable for the most recent dividend period if dividends were declared in full on such non-cumulative
Parity Stock shall be used. If the Board of Directors determines not to pay any Regular Dividend in full on a Regular Dividend Payment Date, the Corporation will provide written notice to the Holders prior to such Regular Dividend Payment Date.

  
 7 

 SECTION 4. Participating Dividends. (a) Without the
written consent of Holders of a majority in aggregate Liquidation Preference of the Series B Preferred Stock, the Corporation shall not declare or pay any dividends, distributions or other issuances to all or substantially all holders of the shares
of Common Stock (whether payable in cash, securities or other property or assets), unless the Holders of the shares of Series B Preferred Stock then outstanding shall simultaneously receive participating dividends, distributions or other issuances,
as applicable (collectively, “Participating Dividends”), that such Holders would have been entitled to if the shares of Series B Preferred Stock had been converted into shares of Common Stock using the then-applicable Initial
Conversion Price immediately preceding the record date for determining the stockholders eligible to receive such Common Stock dividends. 

(b) Participating Dividends shall be payable as and when paid to the holders of shares of Common Stock. The record date for
Participating Dividends shall be the same as the record date for the payments of dividends, distributions or other issuances to the Holders of shares of Common Stock. Participating Dividends not paid or made to holders of shares of Series B
Preferred Stock shall be considered accrued and unpaid dividends of the Series B Preferred Stock. 
 SECTION 5. Mandatory
Conversion on the Mandatory Conversion Date. (a) On each closing date of any Acquisition, the number of outstanding shares of Series B Preferred Stock having an aggregate Liquidation Preference equal to the net proceeds of the Offering
utilized in such Acquisition, on a pro rata basis, shall automatically convert into a number of shares of Common Stock equal to the Liquidation Preference divided by a conversion price equal to the lesser of: 

(i) $2.25 per share of Common Stock (the “Initial Conversion Price”); and 

(ii) the arithmetic average of daily Volume Weighted Average Prices of the Common Stock during the 20 Trading Day period ending
on the Trading Day immediately preceding the public announcement by the Corporation of its entry into a definitive agreement for such Acquisition, subject to a floor of $1.75 per share of Common Stock (the “Floor Price”). 

In addition, on the closing date of a Qualified Acquisition, each outstanding share of Series B Preferred Stock shall automatically convert into a
number of shares of Common Stock equal to the Liquidation Preference divided by the applicable conversion price set forth in subclauses (i) and (ii) immediately above. Each closing date of an Acquisition (including a
Qualified Acquisition) shall be a “Mandatory Conversion Date.” The Corporation shall issue a press release relating to each Acquisition (including a Qualified Acquisition) as soon as practicable, but in any event no later than the
closing date of such Acquisition. 
 (b) Each of the Initial Conversion Price and the Floor Price shall be subject to adjustment, if
applicable, in accordance with the provisions of Section 11. 
 (c) In addition to the shares of Common Stock issuable upon Mandatory
Conversion, Holders of the Series B Preferred Stock shall have the right to receive on each Mandatory Conversion Date in cash an amount equal to any accrued and unpaid dividends on the shares of 

  
 8 

 
the Series B Preferred Stock to be converted on such Mandatory Conversion Date as of such Mandatory Conversion Date, whether or not declared (other than previously declared dividends payable to
Holders of record as of a prior date), to the extent the Corporation is lawfully permitted to pay such dividends at such time. To the extent that such dividends cannot be lawfully paid at such time, the amount of such dividends that cannot be so
paid shall be added to the Liquidation Preference in the calculation of the number of shares of Common Stock to be received in the Mandatory Conversion (provided, that no fractional shares of Common Stock shall be issued and there shall be no
payment with regard to fractional shares); provided, however, that in the event the receipt of additional shares of Common Stock in lieu of such dividends would cause such Holder to become a Substantial Holder, then pursuant to Article VI of
the Articles, the number of additional shares of Common Stock shall be reduced to the extent necessary such that upon receipt of such shares such Holder would not become a Substantial Holder (resulting in such Holder receiving less than the full
value of the dividends it was otherwise entitled to receive). 
 (d) If upon the applicable Mandatory Conversion Date the shares of
Common Stock issuable upon such Mandatory Conversion Date exceeds the number of authorized shares of Common Stock (that are not otherwise reserved on the Issue Date), such shares of the Series B Preferred Stock shall automatically convert, to the
fullest extent possible, into all authorized shares of Common Stock (that are not otherwise reserved on the Issue Date) available for issuance on a pro rata basis using the applicable conversion price on such Mandatory
Conversion Date (the “Partial Conversion”). Shares of Series B Preferred Stock entitled to be converted but not actually converted in the Partial Conversion (such shares, the “Unconverted
Shares”) shall remain outstanding and shall continue to be entitled to all the rights and preferences of the Series B Preferred Stock, including, without limitation, the rights and preferences set forth in Sections 3, 4, 6, 7, 12 and
15. For the avoidance of doubt, shares of the Series B Preferred Stock converted into shares of Common Stock in the Partial Conversion shall not remain outstanding and shall not retain the rights and preferences of the Series B
Preferred Stock. 
 (e) Upon the Reincorporation or such earlier date that authorized shares of Common Stock sufficient to
effect the Mandatory Conversion of the Unconverted Shares are available (the “Remainder Conversion Date”), the Unconverted Shares shall automatically convert into shares of Common Stock using the applicable conversion price on such
Mandatory Conversion Date.  
 (f) With respect to dividends paid in connection with a Partial Conversion or a
conversion of Unconverted Shares, such dividends shall be applied (whether paid in cash or, if applicable, added to the Liquidation Preference in the calculation of the number of shares of Common Stock to be received in such Mandatory Conversion)
only with respect to the shares of the Series B Preferred Stock being converted at such time. 
 SECTION 6. Mandatory
Redemption. (a) Except as described in Section 6(b), the Corporation shall be required to redeem all outstanding shares of the Series B Preferred Stock (including unconverted shares of the Series B Preferred Stock remaining after any
Mandatory Conversion, including Unconverted Shares), if any, unless such shares of the Series B Preferred Stock have been previously repurchased at the option of the Holder pursuant to a Put Event or 

  
 9 

 
mandatorily converted (including in a Partial Conversion), on the third anniversary of the Issue Date (the “Mandatory Redemption Date”), out of funds lawfully available
for payment, at a price equal to $1,000 per share of the Series B Preferred Stock, plus an amount equal to accrued and unpaid dividends, if any, whether or not declared (the “Mandatory Redemption Price”). 

(b) If, prior to the Mandatory Redemption Date, the Corporation has publicly announced that it has entered into a definitive agreement for an
Acquisition, the Mandatory Redemption Date shall be extended to the earlier to occur of: 
 (i) July 5, 2018; and 

(ii) the day immediately following (x) the date such definitive agreement is terminated or (y) the date such
Acquisition is closed. 
 (c) The Corporation shall submit a certificate to the Escrow Agent (within the time period required by the Escrow
Agreement (unless waived by the Escrow Agent)) to request disbursement of funds sufficient to pay the Mandatory Redemption Price on the Mandatory Redemption Date. If the Paying Agent holds immediately available funds sufficient to pay the Mandatory
Redemption Price on the Mandatory Redemption Date, each share of the Series B Preferred Stock shall cease to be outstanding and dividends shall cease to accrue on the Mandatory Redemption Date, whether or not such Series B Preferred Stock is
delivered to the Paying Agent, and all other rights of the Holders shall terminate (other than the right to receive the Mandatory Redemption Price). 

SECTION 7. Repurchase at the Option of the Holder upon a Put Event. (a) If a Put Event occurs at any time when
shares of Series B Preferred Stock are outstanding, each Holder of Series B Preferred Stock shall have the right, at such Holder’s option, to require the Corporation to repurchase (a “Put Event Repurchase Offer”) for cash, out
of funds lawfully available for payment, all of such Holder’s outstanding Series B Preferred Stock, or any portion thereof that is equal to $1,000 or an integral multiple thereof, on the date specified by the Corporation in the Put Event
Corporation Notice that is not less than 20 calendar days or more than 35 calendar days following the date of the Put Event Corporation Notice (the “Put Event Repurchase Date”) at the applicable Put Event Repurchase Price.

 (b) In the case of a Put Event that is: 

(i) a Change of Control, the Put Event Repurchase Price shall equal $1,750 per share of Series B Preferred Stock, plus accrued
and unpaid dividends, if any, whether or not declared; and 
 (ii) a Post-Closing Covenant Default, the Put Event Repurchase
Price shall equal $1,000 per share of Series B Preferred Stock, plus accrued and unpaid dividends, if any, whether or not declared. 
 (c) A
“Put Event” shall occur upon the occurrence of the following 
 (i) if, prior to the consummation of a
Qualified Acquisition, any “person” or “group” of related persons (as such terms are used in Section 13(d) and 14(d) of the 

  
 10 

 
Exchange Act) becomes the beneficial owner (as defined in Rules 13d-3 and 13d-5 under the Exchange Act, except that such person or group shall be deemed to have “beneficial ownership”
of all shares that any such person or group has the right to acquire, whether such right is exercisable immediately or only after the passage of time), directly or indirectly, of more than a majority of the total voting power of all classes of
capital stock of the Corporation then outstanding and normally entitled to vote in the election of directors (such an event, a “Change of Control”); or 

(ii) if, prior to the consummation of a Qualified Acquisition, any of the Post-Closing Covenants have not been satisfied on or
prior to the date that is 180 days following the Issue Date (such an event, a “Post-Closing Covenant Default”). 

(d) No later than 20 calendar days following any Put Event, the Corporation shall send notice of such Put Event (the “Put Event
Corporation Notice”) by first class mail, with a copy to the Transfer Agent, to each Holder of the Series B Preferred Stock to the address of such Holder appearing in the security register with a copy to the Transfer Agent (or otherwise in
accordance with the procedures of DTC), with the following information: 
 (i) that a Put Event has occurred and a Put
Event Repurchase Offer is being made and that all shares of Series B Preferred Stock properly tendered pursuant to such offer will be accepted for payment by the Corporation; 

(ii) the applicable Put Event Redemption Price and the Put Event Repurchase Date; 

(iii) that any shares of Series B Preferred Stock not properly tendered will remain outstanding and continue to accrue
dividends and will retain their conversion rights; 
 (iv) that, unless the Corporation defaults in the payment of the Put
Event Repurchase Price, all shares of Series B Preferred Stock accepted for payment pursuant to the Put Event Repurchase Offer will cease to accrue dividends and their conversion rights will terminate on the Put Event Repurchase Date; 

(v) that Holders electing to have any shares of Series B Preferred Stock repurchased pursuant to a Put Event Repurchase Offer
will be required to surrender such shares, with the form entitled “Option of Holder to Elect Repurchase” on the reverse of such shares completed, to the Transfer Agent specified in the Put Event Company Notice at the address specified in
the Put Event Corporation Notice prior to 5:00 p.m., New York City time, on the Business Day immediately preceding the Put Event Repurchase Date; 

(vi) that Holders will be entitled to withdraw all or a portion of their shares tendered for repurchase; provided that
the Transfer Agent receives, not later than 5:00 p.m., New York City time, a telegram, telex, facsimile transmission or letter setting forth the name of the Holder of the shares, the number of shares tendered for repurchase, and a statement that
such Holder is withdrawing its tendered shares; and 

  
 11 

 (vii) that if the fewer than all of a Holder’s shares are repurchased, the
Corporation will issue to the Holder new shares having aggregate Liquidation Preference equal to the unrepurchased portion of such Holder’s shares; the aggregate Liquidation Preference of such shares must be equal to $1,000 or an integral
multiple of $1,000 in excess thereof. 
 The Corporation shall (within the time period required by the Escrow Agreement (unless waived by
the Escrow Agent)) submit a certificate to the Escrow Agent to request disbursement of funds sufficient to pay the Put Event Repurchase Price on the Put Event Repurchase Date. 

If the shares of Series B Preferred Stock are issued in book-entry form through DTC or any similar facility, a Holder must tender its shares
of Series B Preferred Stock for repurchase in accordance with the applicable procedures of DTC or such similar facility. 

Simultaneously with providing such notice, the Corporation shall publish the information on its website or through a press release or
such other public medium as the Corporation may use at that time. 
 (e) The Corporation shall comply with the requirements of Rule
14e-1 under the Exchange Act and any other securities laws and regulations thereunder to the extent such laws or regulations are applicable in connection with the repurchase of the shares of Series B Preferred Stock pursuant to a Put Event
Repurchase Offer. On the Put Event Repurchase Date, the Corporation shall, to the extent permitted by law: 
 (i)
accept for payment all shares properly tendered pursuant to the Put Event Repurchase Offer; 
 (ii) deposit with the Paying
Agent an amount equal to the aggregate Put Event Repurchase Price in respect of all shares so tendered; and 
 (iii) deliver,
or cause to be delivered, to the Transfer Agent for cancellation the shares so accepted. 
 SECTION 8. Conversion
Procedures. (a) On the applicable Mandatory Conversion Date or the Remainder Conversion Date, as the case may be, dividends on any shares of Series B Preferred Stock converted to Common Stock shall cease to accrue and cumulate, and
such converted shares of Series B Preferred Stock shall cease to be outstanding, in each case, subject to the right of Holders of such shares of Series B Preferred Stock to receive shares of Common Stock (or units of Exchange Property, if
applicable) into which such shares of Series B Preferred Stock were issuable upon such conversion and any accrued and unpaid dividends on such shares to which such Holders are otherwise entitled pursuant to Section 5(c). 

(b) The Person or Persons entitled to receive the Common Stock issuable upon Mandatory Conversion of the Series B Preferred Stock shall be
treated as the Record Holder or Record Holders, as the case may be, of such shares of Common Stock as of 5:00 p.m., New York City time, on the applicable Mandatory Conversion Date or Remainder Conversion Date, as the case may be. Prior to
5:00 p.m., New York City time, on such applicable Mandatory Conversion Date or Remainder Conversion Date, as the case may be, shares of Common Stock issuable upon 

  
 12 

 
Mandatory Conversion of any shares of Series B Preferred Stock shall not be deemed to be outstanding for any purpose, and Holders of shares of Series B Preferred Stock shall have no rights with
respect to such shares of Common Stock, including, without limitation, voting rights, rights to respond to tender offers for the Common Stock and rights to receive any dividends or other distributions on the Common Stock, by virtue of holding shares
of Series B Preferred Stock. 
 (c) In the event that a Holder shall not by written notice designate the name in which shares of Common
Stock to be issued upon Mandatory Conversion of such Holder’s shares of Series B Preferred Stock should be registered, on the applicable Mandatory Conversion Date or Remainder Conversion Date, as the case may be, the Corporation shall be
entitled to register such shares of Common Stock in the name of the Holder of such shares of Series B Preferred Stock as shown on the records of the Corporation. In the event that shares of the Series B Preferred Stock are then held in
certificated form, in the event that a Holder shall not by written notice to the Corporation elect to receive shares of Common Stock to be issued upon Mandatory Conversion in certificated form, the name in which such shares of Common Stock should be
registered and the address to which the certificate or certificates representing such shares of Common Stock should be sent, the Corporation shall be entitled to register such shares in book-entry form, in the name of the Holder of such shares of
Series B Preferred Stock as shown on the records of the Corporation. 
 (d) As provided in Section 22, if specified by the Holder that
shares of Common Stock shall be issued to a Person other than the Holder of the shares of Series B Preferred Stock being mandatorily converted, then the Holder shall pay or cause to be paid any transfer or similar taxes payable in connection with
the shares of Common Stock. 
 SECTION 9. Reservation of Common Stock. (a) Prior to the Reincorporation, the
Corporation shall at all times reserve and keep available out of the authorized and unissued Common Stock, solely for issuance upon Mandatory Conversion of the Series B Preferred Stock as herein provided, all shares of Common Stock not otherwise
reserved on the Issue Date. After the Reincorporation, the Corporation shall at all times reserve and keep available out of its authorized and unissued Common Stock, solely for issuance upon the Mandatory Conversion of the Series B Preferred Stock
as herein provided, that number of shares of Common Stock to be issued upon the Mandatory Conversion of all shares of Series B Preferred Stock then outstanding, calculated using the then-applicable Floor Price. 

(b) Notwithstanding the foregoing, the Corporation shall be entitled to deliver upon Mandatory Conversion of shares of Series B Preferred
Stock, as herein provided, shares of Common Stock reacquired and held in the treasury of the Corporation (in lieu of the issuance of authorized and unissued shares of Common Stock), so long as any such treasury shares are free and clear of all
liens, claims, charges, security interests or encumbrances (other than liens, claims, charges, security interests and other encumbrances created by the Holders). 

(c) All shares of Common Stock issued and delivered upon Mandatory Conversion of the Series B Preferred Stock shall be duly authorized,
validly issued, fully paid and non-assessable, free and clear of all liens, claims, charges, security interests and other encumbrances (other than liens, claims, charges, security interests and other encumbrances created by the Holders). 

  
 13 

 (d) The Corporation shall use its reasonable efforts to take all such actions as may be necessary
to assure that all shares of Common Stock to be issued upon Mandatory Conversion of the Series B Preferred Stock may be so issued without violation of any applicable law or governmental regulation or any requirements of any domestic securities
exchange upon which shares of Common Stock may be listed (except for official notice of issuance which shall be immediately delivered by the Corporation upon each such issuance). 

SECTION 10. Fractional Shares. (a) No fractional shares of Common Stock shall be issued to Holders upon Mandatory
Conversion (including in the case of a conversion of less than all the outstanding shares of the Series B Preferred Stock, including a Partial Conversion or a conversion of Unconverted Shares). 

(b) In lieu of any fractional share of Common Stock otherwise issuable upon Mandatory Conversion, that Holder shall be entitled to receive an
amount in cash (computed to the nearest cent) based on the VWAP per share of Common Stock on the Trading Day immediately preceding the applicable Mandatory Conversion Date (except as described in Section 5(c)). 

(c) If more than one share of the Series B Preferred Stock is mandatorily converted by or for the same Holder, the number of full shares of
Common Stock issuable upon Mandatory Conversion thereof shall be computed on the basis of the aggregate number of shares of Series B Preferred Stock mandatorily converted. 

SECTION 11. Conversion Price Adjustments. (a) The Initial Conversion Price and the Floor Price are
each a “Fixed Conversion Price” and are collectively referred to as the “Fixed Conversion Prices.” Each Fixed Conversion Price will be adjusted from time to time as set forth in this Section 11, provided that
no adjustment shall be made with respect to dividends and distributions to holders of Common Stock to the extent that Holders of the Series B Preferred Stock participated in such dividend or distribution on a pro rata, as-converted basis, as
described in Section 4. 
 (i) If the Corporation effects a subdivision or combination (including, without limitation, a
stock split or a reverse stock split) of the Common Stock, each Fixed Conversion Price shall be adjusted based on the following formula: 
  

 
 where, 
  

									
		 	
CP0            
	  	 	=            	  	  	the Fixed Conversion Price in effect immediately prior to 9:00 a.m., New York City time, on the effective date for such subdivision or combination;

  
 14 

							
		 	CP1            	  	=            	  	the Fixed Conversion Price in effect immediately after 9:00 a.m., New York City time, on such effective date;
				
		 	OS0	  	=	  	the number of shares of Common Stock outstanding immediately prior to 9:00 a.m., New York City time, on such effective date (and prior to giving effect to such event); and
				
		 	OS1	  	=	  	the number of shares of Common Stock that would be outstanding immediately after, and solely as a result of, such subdivision or combination.

 Any adjustment made under this Section 11(a)(i) shall become effective immediately after 9:00 a.m., New
York City time, on the effective date for such subdivision or combination. If any subdivision or combination of the type described in this clause (i) is declared but not so made, each Fixed Conversion Price shall be immediately readjusted,
effective as of the earlier of (a) the date the Board of Directors determines not to make such subdivision or combination and (b) the date the subdivision or combination was to have been effective, to the Fixed Conversion Price that would
then be in effect if such subdivision or combination had not been declared. 
 (ii) If the Corporation or one or more of its
Subsidiaries purchases Common Stock pursuant to a tender offer or exchange offer (except as provided in Section 11(c)(iii)) and the cash and value of any other consideration included in the payment per share of Common Stock validly tendered or
exchanged exceeds an average VWAP per share of Common Stock over the 10 consecutive Trading Day period commencing on, and including, the Trading Day next succeeding the last date on which tenders or exchanges may be made pursuant to such tender or
exchange offer (the “Expiration Date”), each Fixed Conversion Price shall be decreased based on the following formula: 
  

 
 where: 
  

							
		 	CP0            	  	=            	  	the Fixed Conversion Price in effect immediately prior to 5:00 p.m., New York City time, on the tenth Trading Day immediately following, and including, the Trading Day next succeeding the Expiration Date;
				
		 	CP1	  	=	  	the Fixed Conversion Price in effect immediately after 5:00 p.m., New York City time, on the tenth Trading Day immediately following, and including, the Trading Day next succeeding the Expiration Date;
				
		 	FMV	  	=	  	the fair market value (as determined in good faith by the Board of Directors) as of the Expiration Date of the aggregate value of all cash and any other consideration paid or payable for shares of the Common Stock validly tendered
or exchanged and not withdrawn as of the Expiration Date (the “Purchased Shares”);

  
 15 

							
		 	OS1            	  	=            	  	the number of shares of Common Stock outstanding as of the last time tenders or exchanges may be made pursuant to such tender or exchange offer (the “Expiration Time”), less any Purchased Shares;
				
		 	OS0	  	=	  	the number of shares of Common Stock outstanding at the Expiration Time, including any Purchased Shares; and
				
		 	SP1	  	=	  	the average VWAP per share of the Common Stock for the 10 consecutive Trading Day period commencing on, and including, the Trading Day next succeeding the Expiration Date.

 The adjustment to each Fixed Conversion Price under this Section 11(a)(ii) shall occur at
5:00 p.m., New York City time, on the tenth consecutive Trading Day immediately following, and including, the Trading Day immediately following the Expiration Date, but will be given effect as of 9:00 a.m., New York City time, on the Expiration
Date. The Corporation shall delay the settlement of any conversion of Series B Preferred Stock if the applicable Mandatory Conversion Date or Remainder Conversion Date, as the case may be, occurs during such 10 consecutive Trading Day period. In
such event, the Corporation shall deliver the shares of Common Stock issuable in respect of such conversion (based on the adjusted Fixed Conversion Prices) on the first Business Day immediately following the last Trading Day of such 10 consecutive
Trading Day period. 
 For purposes of this Section 11(a), the number of shares of Common Stock at any time outstanding shall not
include shares held in the treasury of the Corporation but shall include shares issuable in respect of scrip certificates issued in lieu of fractions of shares of Common Stock. 

(b) Voluntary Adjustment for Tax Reasons. The Corporation may make such decreases in each Fixed Conversion Price if the Board of
Directors deems it advisable in order to avoid or diminish any income tax to holders of the Common Stock resulting from any dividend or distribution of the Corporation’s shares (or issuance of rights or warrants to acquire shares) or from any
event treated as such for income tax purposes or for any other reasons; provided that the same proportionate adjustment must be made to each Fixed Conversion Price. If any adjustment to the Fixed Conversion Price is treated as a
distribution to any Non-U.S. Holder which is subject to withholding tax, the Corporation (or Transfer Agent or any paying agent on behalf of the Corporation) may set off any withholding tax that is required to be collected with respect to such
deemed distribution against cash payments and other distributions otherwise deliverable to such Non-U.S. Holder. 
 (c)
Calculation of Adjustments. 
 (i) All required calculations will be made to the nearest cent. No
adjustment in any Fixed Conversion Price will be required unless the adjustment would require an 

  
 16 

 
increase or decrease of at least 1% of a Fixed Conversion Price. If the adjustment is not made because the adjustment does not change the Fixed Conversion Prices by at least 1%, then the
adjustment that is not made will be carried forward and taken into account in any future adjustment. Notwithstanding the foregoing, all adjustments not previously made shall be made upon any Mandatory Conversion. 

(ii) Fixed Conversion Price shall not be adjusted except as provided herein. Without limiting the foregoing, a Fixed Conversion
Price shall not be adjusted for: 
 (A) the issuance of any shares of Common Stock pursuant to any present or future plan
providing for the reinvestment of dividends or interest payable on the Corporation’s securities and the investment of additional optional amounts in the Common Stock under any plan; 

(B) the issuance of any shares of Common Stock or options or rights to purchase those shares pursuant to any present or future
employee, director or consultant benefit plan, employee agreement or arrangement or program of the Corporation or any Subsidiaries of the Corporation; 

(C) the issuance of any shares of Common Stock pursuant to any option, warrant, right or exercisable, exchangeable or
convertible security outstanding as of the Issue Date; and 
 (D) a change solely in the par value of the Common Stock. 

(d) Notice of Adjustment. Whenever a Fixed Conversion Price is to be adjusted, the Corporation shall: (i) compute such
adjusted Fixed Conversion Price and prepare and transmit to the Transfer Agent an Officer’s Certificate setting forth such adjusted Fixed Conversion Price, the method of calculation thereof in reasonable detail and the facts requiring such
adjustment and upon which such adjustment is based; (ii) as soon as practicable following the determination of a revised Fixed Conversion Price, provide, or cause to be provided, a written notice to Holders of the occurrence of such event and
(iii) as soon as practicable following the determination of a revised Fixed Conversion Price, provide, or cause to be provided, to Holders a statement setting forth in reasonable detail the method by which the adjustment to such Fixed
Conversion Price was determined and setting forth such revised Fixed Conversion Price. 
 (e) Recapitalizations, Reclassifications
and Changes of the Common Stock. In the event of: 
 (A) any recapitalization, reclassification or change of the Common Stock
(other than changes only in par value or resulting from a subdivision or combination); 
 (B) any consolidation or merger of
the Corporation with or into another Person or any statutory exchange or binding share exchange; or 
 (C) any sale,
transfer, lease or conveyance to another Person of all or substantially all of the property and assets of the Corporation and its Subsidiaries; 

  
 17 

 in each case as a result of which the shares of Common Stock are exchanged for, or converted into, other
securities, property or assets (including cash or any combination thereof) (any such event, a “Reorganization Event”), then, at the effective time of such Reorganization Event, each share of Series B Preferred Stock outstanding
immediately prior to such Reorganization Event shall, without the consent of Holders, become convertible into the kind and amount of such other securities, property or assets (including cash or any combination thereof) that holders of the Common
Stock received in such Reorganization Event (the “Exchange Property”) based on the number of shares of Common Stock that such Holder would have owned on an as-converted basis determined assuming the then-applicable Initial
Conversion Price, and, at the effective time of such Reorganization Event, the Corporation shall amend this Certificate of Designation (or, if applicable, cause to be issued a certificate of designation) to provide for such change in the conversion
provisions of the Series B Preferred Stock; provided that if the kind and amount of Exchange Property receivable upon such Reorganization Event is not the same for each share of Common Stock held immediately prior to such
Reorganization Event by a Person, then the Exchange Property receivable upon such Reorganization Event shall be deemed to be the weighted average of the types and amounts of consideration received by the holders of the Common Stock that
affirmatively make an election (or of all such holders if none makes an election). 
 The above provisions of this Section 11(e)
shall similarly apply to successive Reorganization Events and the Corporation shall make applicable adjustments to the anti-dilution adjustments as the Board of Directors (or the board of directors of any successor of the Corporation) shall deem
appropriate. 
 The Corporation (or any successor) shall, as soon as reasonably practicable (but in any event within 20 days) after the
occurrence of any Reorganization Event, provide written notice to the Holders of such occurrence of such Reorganization Event and of the kind and amount of the cash, securities or other property that constitute the Exchange Property. Failure to
deliver such notice shall not affect the operation of this Section 11(e). 
 In no event shall the provisions of this
Section 11(e) apply to the Reincorporation. The Reincorporation shall be deemed not to be a Reorganization Event. 
 SECTION 12.
Liquidation Rights. (a) Voluntary or Involuntary Liquidation. In the event of any liquidation, dissolution or winding up of the affairs of the Corporation, whether voluntary or involuntary, each Holder shall be entitled to receive
for each share of Series B Preferred Stock, out of the assets of the Corporation or proceeds thereof (whether capital or surplus) available for distribution to stockholders of the Corporation, subject to the rights of any creditors of the
Corporation, before any payment or distribution of such assets or proceeds is made to or set aside for the holders of Common Stock and any other Junior Stock of the Corporation, payment in full in an amount equal to the sum of (x) $1,000 per
share of Series B Preferred Stock (the “Liquidation Preference”) and (y) an amount equal to any accrued and unpaid dividends on each share of Series B Preferred Stock, whether or not declared, to, but not including, the date
fixed for liquidation, dissolution or winding up (such amounts in subclauses (x) and (y) collectively, the “Total Liquidation Preference”). 

  
 18 

 (b) Partial Payment. If in any distribution described in Section 12(a) the
assets of the Corporation or proceeds thereof are not sufficient to pay in full the amounts payable with respect to all outstanding shares of Series B Preferred Stock and any Parity Stock as to such distribution, Holders and the holders of such
Parity Stock shall share ratably in any such distribution in proportion to the full amount of the Liquidation Preference and accrued and unpaid dividends to which they are entitled. 

(c) Residual Distributions. After payment of the full amount of the Total Liquidation Preference to which they are entitled,
Holders will have no right or claim to any of the remaining assets of the Corporation (or proceeds thereof). 
 SECTION 13.
No Sinking Fund. The Series B Preferred Stock will not be subject to any mandatory redemption, sinking fund or other similar provisions, except as provided in Sections 6 and 7. 

SECTION 14. Status of Converted, Redeemed or Repurchased Shares. Shares of Series B Preferred Stock that are duly converted in
accordance herewith, or redeemed, repurchased or otherwise acquired by the Corporation shall revert to authorized but unissued shares of Preferred Stock, undesignated as to series and available for future issuance; provided that any such cancelled
shares of Series B Preferred Stock may be reissued only as shares of any series of Preferred Stock other than Series B Preferred Stock. 

SECTION 15. Voting Rights. (a) General. Holders shall vote on an as-converted basis, calculated using the
then-applicable Initial Conversion Price, with holders of Common Stock. In addition, the affirmative consent of Holders of at least a majority in voting power of the outstanding shares of the Series B Preferred Stock, voting as a separate class,
shall be required for: 
 (i) the amendment or alteration of the provisions in “Section VI. Restrictions on Transfer of
Securities” in the Articles; 
 (ii) the amendment or alteration of this Certificate of Designation (other than any
amendment or alteration resulting from the Reincorporation and effected in compliance with Section 27); 
 (iii) the
amendment or alteration of the Articles to authorize or create or increase the authorized amount of, or issue, any class or series of stock ranking senior to the Series B Preferred Stock with respect to either or both the payment of dividends and
the distribution of assets upon any liquidation, dissolution or winding-up; and 
 (iv) the amendment, alteration or repeal
of any provision of the Articles that adversely affects the rights, preferences, privileges or voting power of the Series B Preferred Stock. 

(b) Preferred Directors. In addition to the voting rights in Section 15(a), if the Corporation fails to: 

(i) pay Regular Dividends or Participating Dividends payable on the shares of the Series B Preferred Stock for six consecutive
quarterly Regular Dividend Periods or payment dates of Participating Dividends, as applicable; 

  
 19 

 (ii) pay the Mandatory Redemption Price in full at the Mandatory Redemption Date;
or 
 (iii) repurchase the shares of the Series B Preferred Stock tendered for repurchase by paying in full the aggregate Put
Event Repurchase Price for all shares so tendered on the Put Event Repurchase Date 
 (each, an “Event of Nonpayment”); then (to the
extent permitted under the Articles and Bylaws) immediately prior to the next annual meeting or special meeting of the Corporation’s stockholders, the authorized number of directors on the Board of Directors shall automatically be increased by
two and the Holders will have the right, voting as a separate class, to elect two directors (together, the “Preferred Directors” and each, a “Preferred Director”) to fill such newly created directorships at such
meeting of the Corporation’s stockholders and at each subsequent annual meeting or special meeting of the Corporation’s stockholders until: 

(x) in the Event of Nonpayment of accrued and unpaid Regular Dividends and Participating Dividends, all accrued and unpaid
Regular Dividends and Participating Dividends have been paid in full; 
 (y) in the Event of Nonpayment of the Mandatory
Redemption Price, the Mandatory Redemption Price of all shares of the Series B Preferred Stock have been paid in full; or 

(z) in the Event of Nonpayment of the aggregate Put Event Repurchase Price for all shares of the Series B Preferred Stock
tendered for repurchase, the aggregate Put Event Repurchase Price for such tendered shares has been paid in full; 
 at which time, as applicable, such
right will immediately terminate, except as otherwise provided herein or expressly provided by law, subject to revesting in the event of each and every Event of Nonpayment. 

Upon any termination of the right set forth in the immediately preceding paragraph, the Preferred Directors shall cease to be qualified as
directors, the term of office of all Preferred Directors then in office shall terminate immediately and the authorized number of directors shall be reduced by the number of Preferred Directors elected as described above. 

Any Preferred Director may be removed at any time, with or without cause, and any vacancy created thereby may be filled, only at a meeting of
the Corporation’s stockholders at which this is a permitted action by the affirmative vote of the Holders of a majority in voting power of the shares of Series B Preferred Stock at the time outstanding voting separately as a class. If the
office of any Preferred Director becomes vacant for any reason other than removal from office as described above, the remaining Preferred Director may choose a successor who will hold office for the unexpired term in respect of which such vacancy
occurred. 
 At any time after the right of Holders to elect Preferred Directors has become vested and is continuing but a meeting of
the Corporation’s stockholders to elect such Preferred Directors has not yet been held, or if a vacancy shall exist in the office of any such Preferred Director that has not been filled by the remaining Preferred Director, the Board of
Directors may, but shall not 

  
 20 

 
be required to, call a special meeting of Holders for the purpose of electing the Preferred Directors that such Holders are entitled to elect; provided that in the event the Board of
Directors does not call such special meeting, such election will be held at the next annual meeting. At any such meeting held for the purpose of electing such Preferred Director or Preferred Directors, as the case may be, (whether at an annual
meeting or special meeting), the presence in person or by proxy of the Holders of shares representing at least a majority of the voting power of the Series B Preferred Stock shall be required to constitute a quorum of the Series B Preferred Stock.
The affirmative vote of Holders constituting a majority of the voting power of such shares present at such meeting, in person or by proxy, shall be sufficient to elect any such Preferred Director. 

(c) Procedures for Voting and Consents. The rules and procedures for calling and conducting any meeting of Holders (including,
without limitation, the fixing of a record date in connection therewith), the solicitation and use of proxies at such a meeting, the obtaining of written consents and any other aspect or matter with regard to such a meeting or such consents shall be
governed by any rules the Board of Directors, in its discretion, may adopt from time to time, which rules and procedures shall conform to the requirements of the Articles, the Bylaws, applicable law and the rules of any national securities exchange
or other trading facility on which the Series B Preferred Stock is listed or traded at the time. 
 SECTION 16. Record
Holders. To the fullest extent permitted by applicable law, the Corporation and the Transfer Agent may deem and treat the Record Holder of any share of Series B Preferred Stock as the absolute, true and lawful owner thereof for all
purposes, including, without limitation, for purposes of making payment and settling conversions, to the fullest extent permitted by law and neither the Corporation nor the Transfer Agent shall be affected by any notice to the contrary. 

SECTION 17. Notices. All notices or communications in respect of Series B Preferred Stock shall be sufficiently given if
given in writing and delivered in person or by first class mail, postage prepaid, or if given in such other manner as may be permitted in this Certificate of Designation, the Articles, the Bylaws or by applicable law. Notwithstanding the foregoing,
if shares of Series B Preferred Stock are issued in book-entry form through DTC or any similar facility, such notices may be given to the Holders in any manner permitted by such facility. 

SECTION 18. No Preemptive Rights. No share of Series B Preferred Stock or share of Common Stock issued upon Mandatory Conversion
of the Series B Preferred Stock shall have any rights of preemption whatsoever as to any securities of the Corporation, or any warrants, rights or options issued or granted with respect thereto, regardless of how such securities, or such warrants,
rights or options, may be designated, issued or granted. 
 SECTION 19. Replacement Stock Certificates. (a) If
physical certificates are issued, and any of the Series B Preferred Stock certificates shall be mutilated, lost, stolen or destroyed, the Corporation shall, at the expense of the Holder thereof, issue, in exchange and in substitution for and upon
cancellation of the mutilated Series B Preferred Stock certificate, or in lieu of and substitution for the lost, stolen or destroyed Series B Preferred Stock certificate, a new Series B Preferred Stock certificate of like tenor and representing an
equivalent amount of shares of Series B Preferred Stock, but only upon receipt of evidence of such loss, theft or destruction of such Series B Preferred Stock certificate and indemnity, if requested, satisfactory to the Corporation and the Transfer
Agent. 

  
 21 

 (b) The Corporation is not required to issue any certificate representing the Series B Preferred
Stock on or after the Mandatory Conversion Date. In lieu of the delivery of a replacement certificate following such Mandatory Conversion Date in connection with a Qualified Acquisition, the Transfer Agent, upon delivery of the evidence and
indemnity described in clause (a) above, shall (subject to Section 5(d)) deliver the shares of Common Stock issuable, along with any other consideration payable or deliverable, pursuant to the terms of the Series B Preferred Stock formerly
evidenced by the certificate. 
 SECTION 20. Transfer Agent, Registrar, Conversion Agent and Paying Agent. The duly appointed
Transfer Agent, Registrar, Conversion Agent and Paying Agent for the Series B Preferred Stock shall be Computershare Trust Company, N.A. The Corporation may, in its sole discretion, remove the Transfer Agent in accordance with the agreement between
the Corporation and the Transfer Agent; provided that the Corporation shall appoint a successor transfer agent who shall accept such appointment prior to the effectiveness of such removal. Upon any such removal or appointment, the Corporation shall
send notice thereof by first-class mail, postage prepaid, to the Holders. 
 SECTION 21. Form. (a) The Series B Preferred
Stock may be issued in book-entry form through DTC or any similar facility. 
 SECTION 22. Stock Transfer and Stamp Taxes. The
Corporation shall pay any and all stock transfer and documentary stamp taxes that may be payable in respect of any issuance or delivery of shares of Series B Preferred Stock or shares of Common Stock issued on account of Series B Preferred Stock
pursuant hereto or certificates representing such shares or securities. The Corporation shall not, however, be required to pay any such tax that may be payable in respect of any transfer involved in the issuance or delivery of shares of Series B
Preferred Stock or Common Stock in a name other than that in which the shares of Series B Preferred Stock with respect to which such shares are issued or delivered were registered, or in respect of any payment to any Person other than a payment to
the Holder thereof, and shall not be required to make any such issuance, delivery or payment unless and until the Person otherwise entitled to such issuance, delivery or payment has paid to the Corporation the amount of any such tax or has
established, to the satisfaction of the Corporation, that such tax has been paid or is not payable. 
 SECTION 23. Listing.
(a) The Corporation hereby covenants and agrees to use its reasonable efforts to list Common Stock on a national securities exchange after becoming eligible to do so and upon approval of the Board of Directors. 

(b) The Corporation hereby covenants and agrees that, if at any time the Common Stock shall be listed or quoted, as applicable, on any
national securities exchange, automated quotation system or other market, the Corporation shall, if permitted by the rules of such exchange, system or market, use reasonable efforts to list or quote and keep listed or quoted, as applicable, so long
as the Common Stock shall be so listed or quoted, as applicable on such exchange, system or market, all shares of Common Stock issuable upon Mandatory Conversion of the Series B Preferred Stock, calculated using the then-applicable Floor Price;
provided,  

  
 22 

 
however, that if the rules of such exchange, system or market permit the Corporation to defer the listing of such Common Stock until the first Mandatory Conversion of Series B Preferred Stock
into Common Stock in accordance with the provisions hereof, the Corporation covenants to use reasonable efforts to list or quote, as applicable, such Common Stock issuable upon Mandatory Conversion of the Series B Preferred Stock if permitted by the
rules of such exchange, system or market at such time. 
 SECTION 24. Ranking. The Series B
Preferred Stock will, with respect to dividend rights or rights upon the liquidation, dissolution or winding-up of the Corporation rank (i) senior to any Junior Stock, (ii) on parity with any Parity Stock and (iii) junior to any
Senior Stock and the Corporation’s existing and future indebtedness (including trade payables). 
 SECTION 25. Information
Reporting. The Corporation hereby covenants and agrees to use its reasonable best efforts to timely file all required reports under Section 13 or 15(d) of the Exchange Act. 

If, at any time, the Corporation is not subject to Section 13 or 15(d) of the Exchange Act, the Corporation shall, so long as any
of the Series B Preferred Stock or Common Stock issued upon Mandatory Conversion will, at such time, constitute “restricted securities” within the meaning of Rule 144(a)(3) under the Securities Act, upon the written request of a holder,
beneficial owner or prospective purchaser of the Series B Preferred Stock or Common Stock, as the case may be, promptly furnish such holder, beneficial owner or prospective purchaser the information required to be delivered pursuant to Rule
l44A(d)(4) under the Securities Act to facilitate the resale of the Series B Preferred Stock or Common Stock, as the case may be, pursuant to Rule l44A under the Securities Act, as such rule may be amended from time to time. The Corporation
shall take such further action as any holder or beneficial owner of the Series B Preferred Stock or Common Stock, as the case may be, may reasonably request to the extent from time to time required to enable such holder or beneficial owner to sell
their shares of Series B Preferred Stock or Common Stock, as the case may be, in accordance with Rule 144A under the Securities Act. 

SECTION 26. Other Rights. The shares of Series B Preferred Stock shall not have any rights, preferences, privileges or
voting powers or relative, participating, optional or other special rights, or qualifications, limitations or restrictions thereof, other than as set forth herein or in the Articles or as provided by applicable law. 

SECTION 27. Effect of Reincorporation. Upon the Reincorporation, the Company covenants and agrees to preserve the terms of this
Certificate of Designation and the related rights and privileges of Holders in the Company’s or its successor’s articles of incorporation (or any similar document), with only such changes as may be necessary or reasonable to give effect to
the fact that the Reincorporation has occurred. 
 [Remainder of Page Left Blank Intentionally.] 

  
 23 

 IN WITNESS WHEREOF, WMI Holdings Corp. has caused this Certificate of Designation to be signed by
its authorized signatory this 5th day of January, 2015. 
  

			
	WMI HOLDINGS CORP.
		
	By:	 	 /s/ Charles Edward Smith

		 	 Name: Charles Edward Smith
 Title: Interim Chief
Executive Officer and Secretary

 Signature page to Certificate of DesignationEX-10.1

 Exhibit 10.1 

WMI Holdings Corp. 
 3.00%
Series B Convertible Preferred Stock 
 REGISTRATION RIGHTS AGREEMENT 

January 5, 2015 
 Citigroup Global Markets
Inc. 
 KKR Capital Markets LLC 
 c/o Citigroup Global Markets
Inc. 
 388 Greenwich Street 
 New York, New York 10013 

Ladies and Gentlemen: 
 WMI Holdings
Corp., a Washington corporation (the “Company”), proposes to issue and sell (such issuance and sale, the “Initial Placement”) to the Initial Purchasers (as defined below), upon the terms set forth in a purchase
agreement, dated December 19, 2014 (the “Purchase Agreement”), 600,000 shares of its 3.00% Series B Convertible Preferred Stock, par value $0.00001 and liquidation preference $1,000 per share (the “Convertible Preferred
Stock”). The Convertible Preferred Stock will be mandatorily convertible into shares of Common Stock (as defined below) pursuant to the terms of the Certificate of Designation (as defined below). As an inducement to you to enter into the
Purchase Agreement and in satisfaction of a condition to your obligations thereunder, the Company agrees with you, (i) for your benefit and (ii) for the benefit of the Holders (as defined below) from time to time of the Convertible
Preferred Stock and the shares of Common Stock issuable upon mandatory conversion of the Convertible Preferred Stock, as follows: 

1. Definitions. Capitalized terms used herein without definition shall have the respective meanings set forth in the Purchase
Agreement. As used in this Agreement, the following capitalized terms shall have the following meanings: 

“Affiliate” of any specified person means any other person directly or indirectly controlling or controlled by or
under common control with such specified person. For the purposes of this definition, “control” (including, with correlative meanings, the terms “controlling,” “controlled by” and “under common control with”),
as used with respect to any person, shall mean the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such person whether through the ownership of voting securities or by agreement or
otherwise. 
 “Business Day” has the meaning set forth in the Purchase Agreement. 

“Certificate of Designation” means the Certificate of Designation relating to the Convertible Preferred Stock, dated
January 5, 2015, filed with the Secretary of State of the State of Washington on or before the Closing Date and any subsequent Certificate of Designation relating to the Convertible Preferred Stock filed with the Secretary of State in Delaware.
 

 “Closing Date” means January 5, 2015. 

“Common Stock” means the common stock, par value $0.00001 per share, of the Company, as it exists on the date of this
Agreement and any other shares of capital stock or other securities of the Company into which such Common Stock may be reclassified or changed, together with any and all other securities which may from time to time be issuable upon mandatory
conversion of the Convertible Preferred Stock. 
 “Company” has the meaning set forth in the preamble hereto
and includes any entity resulting from WMI Holdings Corp. merging into a Delaware corporation upon a reincorporation. 

“Convertible Preferred Stock” has the meaning set forth in the preamble hereto. 

“DTC” means The Depository Trust Company or its nominee. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations of the SEC
promulgated thereunder. 
 “FINRA” has the meaning set forth in Section 3(i) hereof. 

“Holder” means a person who is a registered holder or beneficial owner of any Transfer Restricted Securities
(including the Initial Purchasers). 
 “Holder Information” with respect to any Holder means information with
respect to such Holder and the distribution of such Holders’ Transfer Restricted Securities required to be included in any Shelf Registration Statement or the related Prospectus, or any amendment or supplement thereto, pursuant to the
Securities Act and which information is included therein in reliance upon and in conformity with information furnished to the Company in writing by such Holder for inclusion therein. 

“Initial Placement” has the meaning set forth in the preamble hereto. 

“Initial Purchasers” mean Citigroup Global Markets Inc. and KKR Capital Markets LLC. 

“Majority Holders” means the Holders of a majority in voting power of the then outstanding Transfer Restricted
Securities. 
 “Offering Memorandum” means the Final Memorandum as defined in the Purchase Agreement.

 “person” means any individual, corporation, limited liability company, partnership, joint venture,
association, joint stock company, trust, unincorporated organization, government or any agency or political subdivision thereof or any other entity. 

  
 2 

 “Prospectus” means the prospectus included in any Shelf Registration
Statement (including, without limitation, a prospectus that discloses information previously omitted from a prospectus filed as part of an effective registration statement in reliance upon Rule 430A under the Securities Act), as amended or
supplemented by any prospectus supplement, with respect to the terms of the offering of any shares of Convertible Preferred Stock or shares of Common Stock issuable upon mandatory conversion thereof covered by such Shelf Registration Statement,
including all documents incorporated or deemed to be incorporated by reference in such prospectus. 
 “Purchase
Agreement” has the meaning set forth in the preamble hereto. 
 “Rule 144” means Rule 144 under the
Securities Act (or any similar provision then in force). 
 “Rule 144A” means Rule 144A under the Securities
Act (or any successor provision promulgated by the SEC). 
 “Rule 415” means Rule 415 under the Securities
Act (or any successor provision promulgated by the SEC). 
 “SEC” means the Securities and Exchange
Commission. 
 “Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations
of the SEC promulgated thereunder. 
 “Shelf Registration” means a registration effected pursuant to
Section 2 hereof. 
 “Shelf Registration Statement” means any “shelf” registration statement
of the Company filed pursuant to the provisions of Section 2 hereof which covers the Transfer Restricted Securities on Form S-3 (if then eligible) or on another appropriate form (as determined by the Company) for an offering to be made on a
delayed or continuous basis pursuant to Rule 415 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 documents
incorporated or deemed to be incorporated by reference therein. 
 “Transfer Agent” means Computershare Trust
Company, N.A. or any successor that serves as transfer agent with respect to the Convertible Preferred Stock. 
 “Transfer
Restricted Securities” means each share of Convertible Preferred Stock and each share of Common Stock issuable upon mandatory conversion of the Convertible Preferred Stock until the earliest of the date on which such share of Convertible
Preferred Stock or share of Common Stock, as the case may be, (i) has been transferred pursuant to a Shelf Registration Statement or another registration statement covering such share of Convertible Preferred Stock or share of Common Stock
which has been filed with the SEC pursuant to the Securities Act, in either case after such registration statement has become effective and while such registration statement is effective under the Securities Act, (ii) has been transferred
pursuant to Rule 144 under circumstances in which any legend borne by such share of Convertible Preferred Stock or 

  
 3 

 
share of Common Stock relating to restrictions on transferability thereof, under the Securities Act or otherwise, is removed, (iii) may be freely sold or transferred without restriction
under Rule 144 or (iv) the date on which such share of Convertible Preferred Stock or share of Common Stock ceases to be outstanding. 

All references in this Agreement to financial statements and schedules and other information which is “contained,”
“included,” or “stated” in the Shelf Registration Statement, any preliminary Prospectus or Prospectus (and all other references of like import) shall be deemed to mean and include all such financial statements and schedules and
other information incorporated or deemed to be incorporated by reference in such Shelf Registration Statement, preliminary Prospectus or Prospectus, as the case may be; and all references in this Agreement to amendments or supplements to the Shelf
Registration Statement, any preliminary Prospectus or Prospectus shall be deemed to mean and include any document filed with the SEC under the Exchange Act, after the date of such Shelf Registration Statement, preliminary Prospectus or Prospectus,
as the case may be, which is incorporated or deemed to be incorporated by reference therein (which shall not include, unless incorporated therein, documents and information furnished and not filed under applicable SEC rules). 

2. Shelf Registration Statement. 

(a) The Company shall, at its expense, use its reasonable efforts to prepare and file with the SEC within six months following the Closing
Date a Shelf Registration Statement with respect to resales of shares of Common Stock issuable upon mandatory conversion of shares of Convertible Preferred Stock that are Transfer Restricted Securities by each Holder from time to time on a delayed
or continuous basis pursuant to Rule 415 (or any similar provisions then in force). 
 (b) The Company shall, at its expense, use its
reasonable efforts to prepare and file with the SEC within one year following the Closing Date a Shelf Registration Statement with respect to resales of shares of Convertible Preferred Stock that are Transfer Restricted Securities by each Holder
from time to time on a delayed or continuous basis pursuant to Rule 415 (or any similar provisions then in force). If eligible, the Company may satisfy the requirement to file a Shelf Registration Statement pursuant to this Section 2(b) by
registering for resale the Convertible Preferred Stock on the Shelf Registration Statement required to be filed under Section 2(a) above. 

(c) The Company shall use its reasonable efforts to cause each Shelf Registration Statement described in 2(a) and 2(b) above to be declared
effective under the Securities Act. 
 (d) The Company shall use its reasonable efforts to name each Holder of Transfer Restricted
Securities as a selling shareholder in each Shelf Registration Statement at the time of its effectiveness so that such Holder is permitted to deliver the Prospectus forming a part thereof as of such time to purchasers of such Holder’s Transfer
Restricted Securities in accordance with applicable law. The Company may require each Holder of Transfer Restricted Securities to be sold pursuant to any Shelf Registration Statement to furnish to the Company such information (including, but not
limited to, by completing questionnaires within a reasonable 

  
 4 

 
timeframe established by the Company) regarding the Holder and the proposed distribution of such Transfer Restricted Securities as may, from time to time, be required by the Securities Act and/or
the SEC or any other federal or state governmental authority, and the obligations of the Company to any Holder under this Agreement shall be expressly conditioned on the timely compliance of such Holder with such request. 

(e) After a Shelf Registration Statement has become effective, the Company shall, upon the request of any Holder of Transfer Restricted
Securities, use its reasonable efforts to promptly prepare and file with the SEC (x) a supplement to the Prospectus or, if required by applicable law in order to cause a Holder to be named as a selling shareholder in the Shelf Registration
Statement, a post-effective amendment to the Shelf Registration Statement (a “Seller Post-Effective Amendment”) and (y) any other document required by applicable law, so that the Holder is named as a selling shareholder in the
Shelf Registration Statement and is permitted to deliver the Prospectus to purchasers of such Holder’s Transfer Restricted Securities in accordance with applicable law. If the Company files a Seller Post-Effective Amendment, it shall use its
reasonable efforts to cause such post-effective amendment to become effective under the Securities Act as promptly as is practicable. Notwithstanding the foregoing requirement above, the Company shall not be obligated to file more than one Seller
Post-Effective Amendment in any fiscal quarter. 
 (f) (i) The Company shall use its reasonable efforts, subject to Section 2(f)(ii),
to keep the Shelf Registration Statement continuously effective, supplemented and amended under the Securities Act in order to permit the Prospectus forming a part thereof to be usable, subject to Sections 2(d) and 2(e), by all Holders until all
Transfer Restricted Securities (A) have been transferred pursuant to a Shelf Registration Statement or another registration statement covering such Transfer Restricted Securities which has been filed with the SEC pursuant to the Securities Act,
in either case after such registration statement has become effective and while such registration statement is effective under the Securities Act, (B) have been transferred pursuant to Rule 144 under circumstances in which any legend borne by
such Transfer Restricted Securities relating to restrictions on transferability thereof, under the Securities Act or otherwise, is removed, (C) may be sold or transferred without restriction under Rule 144 or (D) have ceased to be
outstanding (in any such case, such period being called the “Shelf Registration Period”). The Company will (x) subject to Sections 2(d) and 2(e), use its reasonable efforts to prepare and file with the SEC such
amendments and post-effective amendments to the Shelf Registration Statement as may be necessary to keep the Shelf Registration Statement continuously effective for the Shelf Registration Period, subject to Section 2(f)(ii), (y) subject to
Sections 2(d) and 2(e), cause the related Prospectus to be supplemented by any required supplement, and as so supplemented to be filed pursuant to Rule 424 (or any similar provisions then in force) under the Securities Act and (z) comply in all
material respects with the provisions of the Securities Act with respect to the Shelf Registration Statement during the Shelf Registration Period. 

(ii) Notwithstanding anything herein to the contrary, the Company may suspend the filing or use of the Shelf Registration
Statement or any Prospectus, if the Company shall have determined in good faith that because of valid business reasons, including without limitation any proposal or plan of the Company or any of its subsidiaries to effect a merger, acquisition,
disposition, financing, reorganization, 

  
 5 

 
recapitalization or other transaction, or because of required disclosure or filings with the SEC, it is in the best interests of the Company to suspend such use, and prior to suspending such use
the Company provides the Holders with written notice of such suspension, which notice need not specify the nature of the event giving rise to such suspension (and, upon receipt of such notice, each Holder agrees not to sell any Transfer Restricted
Securities pursuant to the Shelf Registration Statement until such Holder is advised in writing that the Prospectus may be used, which notice the Company agrees to provide promptly following the lapse of the event or circumstances giving rise to
such suspension). Each Holder shall keep confidential any communications received by it from the Company regarding the suspension of the use of the Prospectus (including the fact of the suspension), except as required by applicable law. 

(g) Notwithstanding anything herein to the contrary, the Company shall not be required to file a Shelf Registration Statement that pursuant to
(i) any written or oral guidance, comments, requirements or requests of the SEC staff and (ii) the Securities Act, would be deemed to constitute a primary offering of securities by it. 

3. Registration Procedures. In connection with any Shelf Registration Statement, the following provisions shall apply, subject to
Section 2(f)(ii): 
 (a) The Company shall (i) furnish to the Initial Purchasers, within a reasonable period of time, but in any
event within five Business Days, prior to the filing thereof with the SEC to afford the Initial Purchasers and their counsel a reasonable opportunity for review, a copy of each Shelf Registration Statement, and each amendment thereof, and a copy of
each Prospectus, and each amendment or supplement thereto proposed to be filed (excluding (x) amendments caused by the filing of a report under the Exchange Act and (y) amendments and supplements that are filed solely for the purpose of
naming a Holder as a selling shareholder and providing information with respect thereto), and shall use its reasonable efforts to reflect in each such document, when so filed with the SEC, such comments as the Initial Purchasers may reasonably
propose in good faith within three Business Days of the delivery of such copies to the Initial Purchasers and their counsel, except to the extent the Company reasonably determines, on the advice of counsel, it to be inadvisable or inappropriate to
reflect such comments therein, and (ii) include information regarding the Holders and the methods of distribution they have elected for their Transfer Restricted Securities as necessary to permit such distribution by the methods specified
therein. Each Holder who sells, transfers or disposes of Transfer Restricted Securities pursuant to a Shelf Registration Statement shall, as a condition to the obligations of the Company hereunder, do so only in accordance with the terms of this
Agreement, the methods of distribution elected by such Holder, the Securities Act and the Exchange Act, and shall be responsible for the delivery of the Prospectus as may be required to any person to whom such Holder sells any of the Transfer
Restricted Securities Each Holder, following the termination of the Shelf Registration Period, shall notify the Company, within 10 Business Days of a request by the Company, of the amount of the Transfer Restricted Securities sold pursuant to any
Shelf Registration Statement and, in the absence of a response, the Company may assume that all of such Holder’s Transfer Restricted Securities were so sold. 

(b) The Company shall ensure that (i) any Shelf Registration Statement and any amendment thereto and any Prospectus forming a part
thereof and any amendment or 

  
 6 

 
supplement thereto comply in all material respects with the Securities Act and the rules and regulations thereunder, (ii) any Shelf Registration Statement and any amendment thereto does not,
when it becomes effective, contain 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 not misleading and (iii) any Prospectus forming a part of any
Shelf Registration Statement, and any amendment or supplement to such Prospectus, does not include an untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in light of the
circumstances under which they were made, not misleading; provided that the Company makes no representation with respect to any Holder Information. 

(c) The Company, as promptly as reasonably practicable (but in any event within three Business Days following the occurrence of any of the
events specified in (i) – (vii) below), shall notify the Initial Purchasers and each Holder and, if requested by you or any such Holder, confirm such notice in writing: 

(i) when a Shelf Registration Statement or any post-effective amendment thereto or any Prospectus or any amendment or
supplement thereto has been filed with the SEC and when the Shelf Registration Statement or any post-effective amendment thereto has become effective, which notice and confirmation may be made at the election of the Company by making a public
announcement thereof by a press release; 
 (ii) of any request, following effectiveness of the Shelf Registration Statement
under the Securities Act, by the SEC or any other federal or state governmental authority for amendments or supplements to the Shelf Registration Statement or the Prospectus or for additional information (other than any such request relating to a
review of the Company’s Exchange Act filings); 
 (iii) of the issuance by the SEC or any other federal or state
governmental authority of any stop order suspending the effectiveness of the Shelf Registration Statement or of any order preventing or suspending the use of any Prospectus or the initiation or threat of any proceedings for that purpose; 

(iv) of the receipt by the Company of any notification with respect to the suspension of the qualification or exemption from
qualification of the Transfer Restricted Securities included in any Shelf Registration Statement for sale in any jurisdiction or the initiation or threat of any proceeding for that purpose; 

(v) of the occurrence (but not the nature of or details surrounding) any event or the existence of any condition or any
information becoming known that requires the making of any changes in any Shelf Registration Statement or the Prospectus or any document incorporated by reference therein so that, as of such date, the statements therein are not misleading and any
Shelf Registration Statement or the Prospectus or any document incorporated by reference therein, as the case may be, does 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 case of the Prospectus, in light of the circumstances under which they were made) not misleading, provided, however, that no notice by the Company shall be required pursuant to this clause
(v) in the event 

  
 7 

 
the Company promptly files a Prospectus supplement to update the Prospectus, a post-effective amendment to the Shelf Registration Statement or a Form 8-K or other appropriate Exchange Act report
that is incorporated by reference into the Shelf Registration Statement, which, in any case, contains the requisite information that results in such Shelf Registration Statement no longer containing any untrue statement of material fact or omitting
to state a material fact necessary to make the statements therein not misleading; 
 (vi) of the Company’s determination
that a post-effective amendment to the Shelf Registration Statement is necessary under applicable law; and 
 (vii) the
determination by the Company that the filing of a Shelf Registration Statement will not be made pursuant to Section 2(g). 
 (d) The
Company shall use its reasonable efforts to obtain (i) the withdrawal of any order suspending the effectiveness of any Shelf Registration Statement and the use of any related Prospectus and (ii) the lifting of any suspension of the
qualification (or exemption from qualification) of any of the Transfer Restricted Securities for offer or sale in any jurisdiction in which they have been qualified for sale, in each case at the earliest possible time, and shall provide notice to
each Holder and the Initial Purchasers of the withdrawal of any such orders or suspensions. 
 (e) The Company shall promptly furnish to the
Initial Purchaser and each Holder, upon their request and without charge, at least one copy of any Shelf Registration Statement and any post-effective amendment thereto, excluding all documents incorporated or deemed to be incorporated therein by
reference and all exhibits thereto and any amendment or post-effective amendment consisting exclusively of an Exchange Act report or other Exchange Act filing otherwise publicly available on the Company’s or SEC’s website. 

(f) During the Shelf Registration Period, the Company shall, promptly deliver to the Initial Purchasers, each Holder and any broker-dealers
acting on their behalf, without charge, as many copies of the Prospectus (including each preliminary Prospectus) included in any Shelf Registration Statement, and any amendment or supplement thereto, as such person may reasonably request, except as
provided in Section 3(q) hereof, and provided that the Company shall have no obligation to deliver to Initial Purchasers, each Holder and any broker-dealers acting on their behalf copies of any supplement or amendment consisting
exclusively of an Exchange Act report or other Exchange Act filing otherwise available on the Company’s or SEC’s websites; and the Company hereby consents to the use of the Prospectus and any amendment or supplement thereto by each of the
selling Holders in connection with the offering and sale of the Transfer Restricted Securities covered by the Prospectus or any amendment or supplement thereto in the manner set forth therein. 

(g) Prior to any offering of Transfer Restricted Securities pursuant to any Shelf Registration Statement, the Company shall use its reasonable
efforts to qualify or cooperate with the Holders and their respective counsel in connection with the qualification (or exemption from registration or such qualification) of such Transfer Restricted Securities for offer and sale, under the securities
or blue sky laws of such jurisdictions within the United States as any such 

  
 8 

 
Holders reasonably request in writing, and only upon such request, and shall use its reasonable efforts to maintain such qualification in effect so long as required during the Shelf Registration
Period and do any and all other acts or things reasonably necessary or advisable to enable the offer and sale in such jurisdictions of the Transfer Restricted Securities covered by such Shelf Registration Statement; provided, however that in
no event shall the Company’s reasonable efforts include the registration of Transfer Restricted Securities in any jurisdiction within the United States under the securities or blue sky laws of such jurisdictions; and provided further
that the Company will not be required to (A) qualify generally to do business as a foreign corporation or as a dealer in securities in any jurisdiction where it is not then so qualified or to (B) take any action which would subject it to
service of process or taxation in any such jurisdiction where they are not then so subject. 
 (h) Unless any Transfer Restricted Securities
shall be in book-entry only form, if requested by any Holder, the Company shall cooperate with such Holder to facilitate the timely preparation and delivery of certificates representing Transfer Restricted Securities (to the extent certificates for
the Convertible Preferred Stock or the Common Stock issued upon conversion of Convertible Preferred Stock are issuable) sold pursuant to any Shelf Registration Statement free of any restrictive legends and registered in such names as such Holder may
request at least one Business Day prior to settlement of sales of Transfer Restricted Securities pursuant to such Shelf Registration Statement; provided, however that such Holder shall be responsible for the payment of any taxes
payable on account of any transfer to any person other than such Holder. 
 (i) Subject to the exceptions contained in (A) and
(B) of Section 3(g) above, the Company shall use its reasonable efforts to cause the Transfer Restricted Securities covered by the applicable Shelf Registration Statement to be registered with or approved by such other federal, state and
local governmental agencies or authorities, and self-regulatory organizations in the United States as may be necessary to enable the Holders to consummate the disposition of such Transfer Restricted Securities as contemplated by any Shelf
Registration Statement; without limitation to the foregoing, the Company shall use its reasonable efforts to provide all such information as may be required by the Financial Industry Regulatory Authority, Inc. (“FINRA”) in
connection with the offering under any Shelf Registration Statement of the Transfer Restricted Securities, and shall cooperate with each Holder in connection with any filings required to be made with FINRA by such Holder in that regard. The Company
may require each selling Holder to furnish to the Company a certified statement as to (i) the number of Transfer Restricted Securities and Common Stock beneficially owned by such Holder and any Affiliate thereof, (ii) any FINRA
affiliations, (iii) any natural persons who have the power to vote or dispose of its Transfer Restricted Securities and shares of Common Stock and (iv) any other information as may be requested by the SEC, FINRA or any state securities
commission. 
 (j) During any period when a Shelf Registration Statement is effective, upon the occurrence of any event described in
Section 3(c)(v) or 3(c)(vi) hereof, the Company shall use its reasonable efforts to prepare and file with the SEC a post-effective amendment to any Shelf Registration Statement, or an amendment or supplement to the related Prospectus, or any
document incorporated therein by reference, or file a document which is incorporated or deemed to be incorporated by reference in such Shelf Registration Statement or Prospectus, as the case may be, so that, as thereafter delivered to purchasers of
the Transfer Restricted Securities 

  
 9 

 
included therein, the Shelf Registration Statement and the Prospectus, in each case as then amended or supplemented, will not include an untrue statement of a material fact or omit to state any
material fact required to be stated therein or necessary in order to make the statements therein (in the case of the Prospectus, in light of the circumstances under which they were made) not misleading and, in the case of a post-effective amendment,
use its reasonable efforts to cause it to become effective as promptly as practicable. 
 (k) The Company shall provide, prior to the
effective date of any Shelf Registration Statement hereunder (i) a CUSIP number for the Transfer Restricted Securities registered under such Shelf Registration Statement and (ii) global certificates for such Transfer Restricted Securities
to the Transfer Agent, in a form eligible for deposit with DTC. 
 (l) The Company shall make generally available to its security holders an
earnings statement satisfying the provisions of Section 11(a) of the Securities Act and Rule 158 promulgated by the SEC thereunder (or any similar rule promulgated under the Securities Act) for a 12-month period commencing on the first day of
the first fiscal quarter of the Company commencing after the effective date of any Shelf Registration Statement or each post-effective amendment to any Shelf Registration Statement, which such statements shall be made available no later than 45 days
after the end of the 12-month period or 90 days after the end of the 12-month period, if the 12-month period coincides with the fiscal year of the Company. 

(m) The Company shall use its reasonable efforts to cause all shares of Common Stock issuable upon mandatory conversion of the Convertible
Preferred Stock to be approved for listing (upon official notice of issuance) or quotation, as applicable, on each securities exchange, automated quotation system or other market (if any) on which the Common Stock is then listed or quoted, as
applicable, no later than the date the applicable Shelf Registration Statement is declared effective (or, if later, the date on which the Common Stock is listed or quoted, as applicable, on such securities exchange, automated quotation system or
other market) and, in connection therewith, to make such filings as may be required under the Exchange Act and to have such filings declared effective as and when required thereunder. 

(n) The Company shall, if reasonably requested, use its reasonable efforts to promptly incorporate in a Prospectus supplement or
post-effective amendment to a Shelf Registration Statement (i) such information as the Majority Holders provide to the Company in writing and (ii) such information as a Holder may provide from time to time to the Company in writing for
inclusion in a Prospectus or any Shelf Registration Statement concerning such Holder and the distribution of such Holder’s Transfer Restricted Securities and, in either case, shall use its reasonable efforts to make all required filings of such
Prospectus supplement or post-effective amendment promptly after being notified in writing of the matters to be incorporated in such Prospectus supplement or post-effective amendment; provided that the Company shall not be required to take
any action under this Section 3(n) that is not, in the reasonable opinion of counsel for the Company, in compliance with applicable law. 

(o) In the case of an underwritten offering provided by Section 7 below, the Company shall use its reasonable efforts to take all actions
reasonably necessary, or reasonably requested by the holders of a majority of the Transfer Restricted Securities being sold in such underwritten offering, in order to expedite or facilitate disposition of such Transfer Restricted Securities;
provided that the Company shall not be required to take any action in connection with an underwritten offering made without its consent. 

  
 10 

 (p) During any period when a Shelf Registration Statement is effective, if reasonably requested
in writing in connection with any disposition of Transfer Restricted Securities pursuant to a Shelf Registration Statement, the Company shall make reasonably available for inspection during normal business hours by a representative for the Holders
of such Transfer Restricted Securities and any broker-dealers, attorneys and accountants retained by such Holders, all relevant financial and other records, pertinent corporate documents and properties of the Company and its subsidiaries, but
excluding privileged information, and cause the appropriate executive officers, directors and designated employees of the Company and its subsidiaries to make reasonably available for inspection during normal business hours all relevant information
reasonably requested by such representative for the Holders or any such broker-dealers, attorneys or accountants in connection with such disposition, in each case as is customary for similar “due diligence” examinations; provided,
however, that any information that is designated by the Company, in good faith, as confidential or proprietary at the time of delivery of such information shall be kept confidential by such persons and such persons shall take such actions as are
necessary to protect the confidentiality of such information, unless disclosure thereof is made in connection with a court, administrative or regulatory proceeding or required by law, or such information has become available to the public generally
through the Company or through a third party without an accompanying obligation of confidentiality, and the Company may, at its option, require all such Holders and representatives to sign a confidentiality agreement in form and substance reasonably
satisfactory to the Company with respect thereto prior to permitting access to such confidential or proprietary information. 
 (q) After
any Shelf Registration Statement becomes effective, each Holder agrees that, upon receipt of notice of the happening of an event described in Sections 3(c)(ii) through and including 3(c)(vi), such Holder shall forthwith discontinue (and shall cause
its agents and representatives to discontinue) disposition of Transfer Restricted Securities and will not resume disposition of Transfer Restricted Securities until such Holder has received copies of an amended or supplemented Prospectus
contemplated by Section 3(j) hereof upon request of such Holder, or until such Holder is advised in writing by the Company that the use of the Prospectus may be resumed, provided that the foregoing shall not prevent the sale, transfer or
other disposition of Transfer Restricted Securities by a Holder in a transaction which is exempt from, or not subject to, the registration requirements of the Securities Act, so long as such Holder does not and is not required to deliver the
applicable Prospectus or Shelf Registration Statement in connection with such sale, transfer or other disposition, as the case may be. 

(r) Each Holder shall promptly notify the Company of any inaccuracies in the information provided in such Holder’s Holder Information
that may occur subsequent to the date thereof at any time while the Shelf Registration Statement remains effective and shall promptly provide to the Company in writing the necessary changes to such information required to be disclosed in order to
make the information previously furnished to the Company by such Holder not misleading. 
 4. Registration Expenses. The Company
shall bear all fees and expenses incurred in connection with the performance of its obligations under Sections 2 and 3 hereof. 

  
 11 

 
Such fees and expenses shall include, without limitation: (i) all registration and filing fees and expenses (including filings made with FINRA); (ii) all fees and expenses of compliance
with federal securities and state blue sky or securities laws; (iii) all expenses of printing (including printing of Prospectuses and certificates for the Common Stock to be issued upon conversion of the Convertible Preferred Stock) and the
Company’s expenses for messenger and delivery services and telephone; (iv) all fees and disbursements of counsel to the Company and, in the case of the Shelf Registration Statement, and any amendment and supplement thereto, the fees and
disbursements (not exceeding $50,000 in the aggregate) of the counsel for the Initial Purchasers and the Holders (which counsel shall initially be Simpson Thacher & Bartlett LLP until such time as the Majority Holders shall have elected a
different counsel); (v) all application and filing fees in connection with listing (or authorizing for quotation) the Common Stock on a national securities exchange, automated quotation system or other market pursuant to the requirements
hereof; and (vi) all fees and disbursements of independent certified public accountants of the Company. The Company shall bear its internal expenses (including, without limitation, all salaries and expenses of their officers and employees
performing legal, accounting or other duties), the expenses of any annual audit and the fees and expenses of any person, including special experts, retained by the Company. Notwithstanding the provisions of this Section 4, each Holder shall
bear the expense of any broker’s commission, agency fee and underwriter’s discount or commission (including, without limitation, the expenses related to the engagement of a “qualified independent underwriter”), if any, relating
to the sale or disposition of such Holder’s Transfer Restricted Securities pursuant to a Shelf Registration Statement. 
 5.
Indemnity and Contribution. 
 (a) The Company agrees to indemnify and hold harmless each Holder named in any Shelf Registration
Statement (including, without limitation, the Initial Purchasers), and each person, if any, who controls any such Holder within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act (collectively referred
to for purposes of this Section 5 as a “Holder”), from and against any and all losses, claims, damages and liabilities (including without limitation the reasonable legal fees and other expenses incurred in connection with any
suit, action or proceeding or any claim asserted) caused by any untrue statement or alleged untrue statement of a material fact contained in the Shelf Registration Statement, or in any Prospectus, or any amendment thereof or supplement thereto, or
caused by any omission or alleged omission to state therein a material fact required to be stated therein or necessary, in the case of any Prospectus in light of the circumstances under which they were made, to make the statements therein not
misleading, except insofar as such losses, claims, damages or liabilities are caused by any untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with information relating to any Holder
furnished to the Company in writing by such Holder expressly for use therein or such information provided by the Majority Holders pursuant to Section 3(n); provided that the foregoing indemnity with respect to any Shelf Registration
Statement, or any Prospectus, shall not inure to the benefit of any Holder (or the benefit of any person controlling such Holder) from whom the person asserting any such losses, claims, damages or liabilities purchased the securities concerned, to
the extent that any such loss, claim, damage or liability of the Holders occurs under the circumstance where it shall have been established that (w) the Company had previously furnished copies of the Prospectus, and any amendments and
supplements thereto, to the Holder (to the extent such Holder has previously requested such copies), (x) delivery of the Prospectus, 

  
 12 

 
and any amendment or supplements thereto, was required by the Securities Act to be made to such person, (y) the untrue statement or omission of a material fact was corrected in the
Prospectus or amendments or supplements thereto and (z) there was not sent or given to such person, at or prior to the written confirmation of the sale of such securities to such person, a copy of such Prospectus or amendments or supplements
thereto. 
 (b) Each Holder agrees, severally and not jointly, to indemnify and hold harmless the Company, its directors, officers,
employees and agents and each person who controls the Company within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act, and the directors, officers, employees and agents of such controlling persons, to the
same extent as the foregoing indemnity from the Company to the Holders, but only with regard to such information furnished to the Company in writing by such Holder expressly for use therein. 

(c) If any suit, action, proceeding (including any governmental or regulatory investigation), claim or demand shall be brought or asserted
against any person in respect of which indemnity may be sought pursuant to either of the two preceding paragraphs, such person (the “Indemnified Person”) shall promptly notify the person against whom such indemnity may be
sought (the “Indemnifying Person”) in writing, and the Indemnifying Person, upon request of the Indemnified Person, shall retain counsel reasonably satisfactory to the Indemnified Person to represent the Indemnified Person and any
others the Indemnifying Person may designate in such proceeding and shall pay the reasonable fees and expenses of such counsel related to such proceeding. In any such proceeding, any Indemnified Person shall have the right to retain its own counsel,
but the fees and expenses of such counsel shall be at the expense of such Indemnified Person unless (i) the Indemnifying Person and the Indemnified Person shall have mutually agreed to the contrary, (ii) the Indemnifying Person has failed
within a reasonable time to retain counsel reasonably satisfactory to the Indemnified Person or (iii) the named parties in any such proceeding (including any impleaded parties) include both the Indemnifying Person and the Indemnified Person and
representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them. It is understood that the Indemnifying Person shall not, in connection with any proceeding or related proceeding
in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to any local counsel) for all Indemnified Persons, and that all such fees and expenses shall be reimbursed as they are incurred. Any such
separate firm for the Holders and such control persons of the Holders shall be designated in writing by the Initial Purchasers and any such separate firm for the Company, its directors and such control persons of the Company shall be designated in
writing by the Company. The Indemnifying Person shall not be liable for any settlement of any pending or threatened proceeding effected without its prior written consent, but if settled with such consent or if there be a final judgment for the
plaintiff, the Indemnifying Person agrees to indemnify in accordance with Section 5(a) or 5(b) above, as the case may be, any Indemnified Person from and against any loss or liability by reason of such settlement or judgment. No Indemnifying
Person shall, without the prior written consent of the Indemnified Person, effect any settlement of any pending proceeding in respect of which any Indemnified Person is a party or of any threatened proceeding in respect of which any Indemnified
Person could have been a party and indemnity could have been sought hereunder by such Indemnified Person, unless such settlement includes an unconditional release of such Indemnified Person from all liability on claims that are the subject matter of
such proceeding on terms reasonably satisfactory to such Indemnified Person. 

  
 13 

 (d) If the indemnification provided for in paragraph (a) or (b) of this Section 5
is unavailable to an Indemnified Person or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each Indemnifying Person under such paragraph, in lieu of indemnifying such Indemnified Person thereunder,
shall contribute to the amount paid or payable by such Indemnified Person as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one
hand and the Holder on the other hand with respect to the sale by such Holder of Convertible Preferred Stock or Common Stock or (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in such proportion as
is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault of the Company on the one hand and of such Holder on the other in connection with the statements or omissions that resulted in
such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. Benefits received by the Company shall be deemed to be equal to the total net proceeds from the Initial Placement (before deducting expenses).
Benefits received by the Initial Purchasers shall be deemed to be equal to the total purchase discounts and commissions received by the Initial Purchasers in the Initial Placement, and benefits received by any other Holders shall be deemed to be
equal to the value of receiving shares of Convertible Preferred Stock or Common Stock, as applicable, registered under the Securities Act. Benefits received by any underwriter shall be deemed to be equal to the total underwriting discounts and
commissions, as set forth on the cover page of the Prospectus forming a part of the Shelf Registration Statement which resulted in such losses, claims, damages or liabilities. The relative fault of the Company on the one hand and such Holder on the
other shall be determined by reference to, among other things, whether any untrue or any alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Company or by
such Holder and the parties’ relevant intent, knowledge, information and opportunity to correct or prevent such statement or omission. 

(e) The Company and the Holders agree that it would not be just and equitable if contribution pursuant to this Section 5 were determined
by pro rata allocation (even if the Holders were treated as one entity for such purpose) or any other method of allocation that does not take account of the equitable considerations referred to in paragraph (d) of this Section 5.
The amount paid or payable by an Indemnified Person as a result of losses, claims, damages and liabilities referred to in paragraph (d) of this Section 5 shall be deemed to include, subject to the limitations set forth above, any
reasonable legal or other expenses incurred by such Indemnified Person not otherwise reimbursed in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 5, in no event shall any
Holder be required to contribute any amount in excess of the amount by which the total amount received by such Holder with respect to its sale of Transfer Restricted Securities pursuant to a Shelf Registration Statement 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 or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the
Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. 

  
 14 

 (f) The remedies provided for in this Section 5 are not exclusive and shall not limit any
rights or remedies which may otherwise be available to any Indemnified Party at law or in equity. 
 (g) The indemnity and contribution
agreements contained in this Section 5 shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any Holder or any person controlling any
Holder or by or on behalf of the Company, its officers or directors or any other person controlling the Company, and the indemnity and contribution agreements contained in this Section 5 shall survive the sale by a Holder of Transfer Restricted
Securities covered by a Shelf Registration Statement. 
 6. Rule 144A. The Company covenants that it shall file the reports required
to be filed by it under the Securities Act and the Exchange Act in a timely manner so long as the Transfer Restricted Securities remain outstanding. If at any time the Company is not required to file such reports, it will, upon request of any Holder
or beneficial owner of Transfer Restricted Securities, make available such information necessary to permit sales pursuant to Rule 144A. The Company further covenants that, for as long as any Transfer Restricted Securities remain outstanding, it will
take such further action as any Holder of Transfer Restricted Securities may reasonably request, all to the extent required from time to time to enable such Holder to sell Transfer Restricted Securities without registration under the Securities Act
within the limitation of the exemption provided by Rule 144A or any other exemption then available. Upon the written request of any Holder of Transfer Restricted Securities, the Company shall deliver to such Holder a written statement as to whether
it has complied with such requirements. Nothing in this Section 6 shall be deemed to require the Company to register any of its securities under the Exchange Act. 

7. Underwritten Offering. 

(a) If any of the Transfer Restricted Securities covered by any Shelf Registration Statement are to be sold in an underwritten offering, the
investment banker or investment bankers and manager or managers that will administer the underwritten offering will be selected by the Majority Holders of such Transfer Restricted Securities included in such underwritten offering, subject to the
consent of the Company (which shall not be unreasonably withheld or delayed), and such Holders shall be responsible for all underwriting commissions and discounts (and any other expenses of the underwriters not borne by the underwriters themselves)
in connection therewith; provided, however, that notwithstanding anything contained in this Agreement to the contrary, the Company shall be under no obligation to participate in any underwritten offering with respect to the Transfer
Restricted Securities and no underwritten offering shall be effected pursuant to this Agreement without the prior written consent of the Company. 

(b) No Holder may participate in any underwritten offering hereunder unless such person (i) agrees to sell such Holder’s Transfer
Restricted Securities on the basis reasonably provided in any underwriting arrangements approved by the Holders entitled hereunder to approve such arrangements and (ii) completes and executes all questionnaires, powers of attorney, indemnities,
underwriting agreements and other documents reasonably required under the terms of such underwriting arrangements. 

  
 15 

 8. Miscellaneous. 

(a) No Inconsistent Agreements. The Company has not, as of the date hereof, entered into nor shall it, on or after the date hereof,
enter into, any agreement with respect to its securities that is inconsistent with the rights granted to the Holders herein or otherwise conflicts with the provisions hereof. In addition, the Company shall not grant to any of its securityholders the
right to include any of its securities in the Shelf Registration Statement provided for in this Agreement other than the Transfer Restricted Securities. 

(b) Amendments and Waivers. Except as provided in the next paragraph, this Agreement, including this Section 8(b), may be amended,
modified or supplemented, and waivers or consents to depart from the provisions hereof may be given, only by the written consent of the Company and the Majority Holders; provided that with respect to any matter that directly or indirectly
affects the rights of the Initial Purchasers hereunder, the Company shall obtain the written consent of the Initial Purchasers against which such amendment, supplement, waiver or consent is to be effective. Notwithstanding the foregoing, a waiver or
consent to depart from the provisions hereof with respect to a matter that relates exclusively to the rights of Holders whose Transfer Restricted Securities are being sold pursuant to a Shelf Registration Statement and that does not directly or
indirectly affect the rights of other Holders may be given by the Majority Holders (giving effect to the second proviso of the definition thereof). 

Notwithstanding the foregoing two sentences, (i) this Agreement may be amended by written agreement signed by the Company and the Initial
Purchasers, without the consent of the Majority Holders, to cure any ambiguity or to correct or supplement any provision contained herein that may be defective or inconsistent with any other provision contained herein, or to make such other
provisions in regard to matters or questions arising under this Agreement that shall not adversely affect the interests of the Holders of Transfer Restricted Securities. Each Holder of Transfer Restricted Securities outstanding at the time of any
such amendment, modification, supplement, waiver or consent or thereafter shall be bound by any such amendment, modification, supplement, waiver or consent effected pursuant to this Section 8(b), whether or not any notice, writing or marking
indicating such amendment, modification, supplement, waiver or consent appears on the Transfer Restricted Securities or is delivered to such Holder. 

(c) Notices. All notices and other communications provided for or permitted hereunder shall be made in writing by hand-delivery;
certified mail, return receipt requested; air courier guaranteeing overnight delivery or sent by email: 
 (i) if to the
Initial Purchasers, initially at the address set forth in the Purchase Agreement; 
 (ii) if to any other Holder, at the most
current address of such Holder maintained by the Transfer Agent (provided that while the Convertible Preferred Stock or the Common Stock are in book-entry form, notice to the Transfer Agent shall serve as notice to the Holders); and 

  
 16 

							
		 	(iii)	  	if to the Company, to:	  	
				
		 		  	 WMI Holdings Corp.
 Charles E. Smith, Interim
Chief Executive Officer
 1201 Third Avenue, Suite 3000

Seattle, Washington 98101
 Attn: Chief Executive Officer

email: chad.smith@wamuinc.net
	  	
				
		 		  	With a copy to:	  	
				
		 		  	 Akin Gump Strauss Hauer & Feld LLP

One Bryant Park
 New York, New York 10036-6745

Attn: Kerry E. Berchem, Esq.
 e-mail:
kberchem@akingump.com
	  	

 All such notices and communications shall be deemed to have been duly given when received, if delivered
by hand or air courier, and when sent, if sent by first-class mail, provided that notice given by email shall not be effective unless either (i) a duplicate copy of such email notice is promptly given by one of the other methods
described in this Section 8(c) or (ii) the receiving party delivers a written confirmation of receipt for such notice by email or any other method described in this Section 8(c). 

The Initial Purchasers or the Company by notice to the other may designate additional or different addresses for subsequent notices or
communications. 
 (d) Successors and Assigns. This Agreement shall inure to the benefit of and be binding upon the successors and
assigns of each of the parties, including the successor to WMI Holdings Corp. resulting from an expected merger into a Delaware corporation upon a reincorporation, without the need for an express assignment or any consent by the Company or
subsequent Holders. The Company hereby agrees to extend the benefits of this Agreement to any Holder and any such Holder may enforce the provisions of this Agreement as if an original party hereto. In the event that any other person shall succeed to
the Company’s interests and obligations, except for the reincorporation set forth in the first sentence of this Section 8(d), then such successor shall enter into an agreement, in form and substance reasonably satisfactory to the Initial
Purchasers, whereby such successor shall assume all of the Company’s obligations under this Agreement. 
 (e) 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.

  
 17 

 (f) Headings. The headings in this Agreement are for convenience of reference only and
shall not limit or otherwise affect the meaning hereof. 
 (g) GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS MADE AND TO BE PERFORMED WITHIN THE STATE OF NEW YORK. 
 (h)
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 hereof shall not be in any way impaired or affected thereby, it being intended that all of the rights and privileges of the parties shall be enforceable to
the fullest extent permitted by law. 
 (i) Termination. This Agreement and the obligations of the parties hereunder shall terminate
upon the end of the Shelf Registration Period, except for any liabilities or obligations under Section 2(e), 4 or 5 to the extent arising prior to the end of the Shelf Registration Period. 

  
 18 

 Please confirm that the foregoing correctly sets forth the agreement among the Company and you.

  

			
	Very truly yours,
	
	WMI HOLDINGS CORP.
		
	By:	 	 /s/ Charles Edward Smith

		 	Name: Charles Edward Smith
		 	Title: Interim Chief Executive Officer and Secretary

 The foregoing Agreement is hereby confirmed 

and accepted as of the date first above written. 
  

			
	CITIGROUP GLOBAL MARKETS INC.
		
	By:	 	 /s/ Christian Anderson

		 	Name: Christian Anderson
		 	Title: Managing Director
	
	KKR CAPITAL MARKETS LLC
		
	By:	 	 /s/ Edward Law

		 	Name: Edward Law
		 	Title: Managing Director

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00239-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00239-of-00352.parquet"}]]