SEPARATION AND DISTRIBUTION AGREEMENT By and Between AARON’S HOLDINGS COMPANY, INC. and THE AARON’S COMPANY, INC. Dated as of November 29, 2020Separation and Distribution Agreement • December 1st, 2020 • PROG Holdings, Inc. • Services-equipment rental & leasing, nec • Georgia
This SEPARATION AND DISTRIBUTION AGREEMENT is entered into on November 29, 2020, by and between AARON’S HOLDINGS COMPANY, INC., a Georgia corporation (“Parent”), and THE AARON’S COMPANY, INC., a Georgia corporation (“SpinCo”). Parent and SpinCo are sometimes referred to herein, individually, as a “Party” and, together, as the “Parties”. Capitalized terms used herein and not otherwise defined shall have the respective meanings ascribed to them in ARTICLE I.
TRANSITION AGREEMENTTransition Agreement • December 1st, 2020 • PROG Holdings, Inc. • Services-equipment rental & leasing, nec • Georgia
This Transition Agreement (this “Agreement”) by and among Aaron’s Holdings Company, Inc. (the “Company”), Aaron’s, LLC (“Aaron’s”), The Aaron’s Company, Inc. (“TAC,” and, together with Aaron’s, the “Aaron’s Business Parties”), John W. Robinson III (“Executive”), and Progressive Finance Holdings, LLC (“Progressive”) (solely for purposes of Sections 1(a), 15, and 18), is entered into and dated as of November 30, 2020. The Company, the Aaron’s Business Parties, and Executive are each a “Party” and are collectively referred to as the “Parties”.
