<SEC-DOCUMENT>0001104659-25-039509.txt : 20250425
<SEC-HEADER>0001104659-25-039509.hdr.sgml : 20250425
<ACCEPTANCE-DATETIME>20250425170925
ACCESSION NUMBER:		0001104659-25-039509
CONFORMED SUBMISSION TYPE:	SCHEDULE 13D/A
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20250425
DATE AS OF CHANGE:		20250425

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Krispy Kreme, Inc.
		CENTRAL INDEX KEY:			0001857154
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-FOOD STORES [5400]
		ORGANIZATION NAME:           	07 Trade & Services
		EIN:				000000000

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13D/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-92688
		FILM NUMBER:		25875154

	BUSINESS ADDRESS:	
		STREET 1:		2116 HAWKINS STREET
		CITY:			CHARLOTTE
		STATE:			NC
		ZIP:			28203
		BUSINESS PHONE:		(800) 457-4779

	MAIL ADDRESS:	
		STREET 1:		2116 HAWKINS STREET
		CITY:			CHARLOTTE
		STATE:			NC
		ZIP:			28203

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Krispy Kreme Holdco, Inc.
		DATE OF NAME CHANGE:	20210426

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Krispy Kreme Holdco Inc.
		DATE OF NAME CHANGE:	20210414

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			JAB Holdings B.V.
		CENTRAL INDEX KEY:			0001579134
		ORGANIZATION NAME:           	
		EIN:				980576234
		STATE OF INCORPORATION:			P7
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13D/A

	BUSINESS ADDRESS:	
		STREET 1:		PIET HEINKADE 55
		CITY:			AMSTERDAM
		STATE:			P7
		ZIP:			NL 1019 GM
		BUSINESS PHONE:		31 202 355 000

	MAIL ADDRESS:	
		STREET 1:		PIET HEINKADE 55
		CITY:			AMSTERDAM
		STATE:			P7
		ZIP:			NL 1019 GM
</SEC-HEADER>
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<TYPE>SCHEDULE 13D/A
<SEQUENCE>1
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    <coverPageHeader>
      <amendmentNo>12</amendmentNo>
      <securitiesClassTitle>Common Stock, Par Value $0.01 Per Share</securitiesClassTitle>
      <dateOfEvent>04/23/2025</dateOfEvent>
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        <issuerCIK>0001857154</issuerCIK>
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        <issuerName>Krispy Kreme, Inc.</issuerName>
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          <com:street1>2116 HAWKINS STREET</com:street1>
          <com:city>CHARLOTTE</com:city>
          <com:stateOrCountry>NC</com:stateOrCountry>
          <com:zipCode>28203</com:zipCode>
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          <personName>Joachim Creus</personName>
          <personPhoneNum>31 202 355 000</personPhoneNum>
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            <com:street1>Piet Heinkade 55</com:street1>
            <com:city>Amsterdam</com:city>
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            <com:zipCode>1019 GM</com:zipCode>
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        <reportingPersonCIK>0001869810</reportingPersonCIK>
        <reportingPersonNoCIK>N</reportingPersonNoCIK>
        <reportingPersonName>JAB Indulgence B.V.</reportingPersonName>
        <fundType>OO</fundType>
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        <citizenshipOrOrganization>P7</citizenshipOrOrganization>
        <soleVotingPower>0.00</soleVotingPower>
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        <commentContent>(1) This represents the aggregate voting and dispositive power of shares of common stock, par value $0.01 per share (the "Common Stock") (the shares of Common Stock, each a "Share" and, collectively, the "Shares"), of Krispy Kreme, Inc. (the "Company") that may be deemed to be beneficially owned by JAB Indulgence B.V. ("JAB Indulgence").

(2) The percentage ownership is based upon 170,300,000 Shares issued and outstanding (as rounded to the nearest hundred thousand Shares in the Latest Disclosure) as of February 14, 2025, as set forth in the Annual Report on Form 10-K (the "Latest Disclosure"), filed by the Company with the United States Securities and Exchange Commission on February 27, 2025.</commentContent>
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        <reportingPersonCIK>0001579134</reportingPersonCIK>
        <reportingPersonNoCIK>N</reportingPersonNoCIK>
        <reportingPersonName>JAB Holdings B.V.</reportingPersonName>
        <fundType>OO</fundType>
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        <citizenshipOrOrganization>P7</citizenshipOrOrganization>
        <soleVotingPower>0.00</soleVotingPower>
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        <aggregateAmountOwned>74190990.00</aggregateAmountOwned>
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        <percentOfClass>43.56</percentOfClass>
        <typeOfReportingPerson>HC</typeOfReportingPerson>
        <commentContent>(1) This represents the aggregate voting and dispositive power of shares of Common Stock that may be deemed to be beneficially owned by JAB Indulgence. JAB Holdings B.V. ("JAB Holdings") may be deemed to have beneficial ownership of the shares held by JAB Indulgence since JAB Indulgence is a direct subsidiary of JAB Holdings. Neither the filing of this Statement on Schedule 13D (this "Statement") nor any of its contents shall be deemed to constitute an admission by JAB Holdings that it is the beneficial owner of any of the Common Stock held by JAB Indulgence for purposes of Section 13(d) of the Exchange Act, or for any other purpose.

(2) The percentage ownership is based upon 170,300,000 Shares issued and outstanding (as rounded to the nearest hundred thousand Shares in the Latest Disclosure) as of February 14, 2025, as set forth in the Latest Disclosure.</commentContent>
      </reportingPersonInfo>
      <reportingPersonInfo>
        <reportingPersonCIK>0001747036</reportingPersonCIK>
        <reportingPersonNoCIK>N</reportingPersonNoCIK>
        <reportingPersonName>JAB Investments S.a r.l.</reportingPersonName>
        <fundType>OO</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>N4</citizenshipOrOrganization>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>74190990.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>74190990.00</sharedDispositivePower>
        <aggregateAmountOwned>74190990.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>43.56</percentOfClass>
        <typeOfReportingPerson>HC</typeOfReportingPerson>
        <commentContent>(1) This represents the aggregate voting and dispositive power of shares of Common Stock that may be deemed to be beneficially owned by JAB Indulgence. JAB Investments S.a r.l. ("JAB Investments") may be deemed to have beneficial ownership of such shares since JAB Indulgence is an indirect subsidiary of JAB Investments. Neither the filing of this Statement nor any of its contents shall be deemed to constitute an admission by JAB Investments that it is the beneficial owner of any of the Common Stock referred to herein for purposes of Section 13(d) of the Exchange Act, or for any other purpose.

(2) The percentage ownership is based upon 170,300,000 Shares issued and outstanding (as rounded to the nearest hundred thousand Shares in the Latest Disclosure) as of February 14, 2025, as set forth in the Latest Disclosure.</commentContent>
      </reportingPersonInfo>
      <reportingPersonInfo>
        <reportingPersonCIK>0001621428</reportingPersonCIK>
        <reportingPersonNoCIK>N</reportingPersonNoCIK>
        <reportingPersonName>JAB Holding Company S.a r.l.</reportingPersonName>
        <fundType>OO</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>N4</citizenshipOrOrganization>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>74190990.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>74190990.00</sharedDispositivePower>
        <aggregateAmountOwned>74190990.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>43.56</percentOfClass>
        <typeOfReportingPerson>HC</typeOfReportingPerson>
        <commentContent>(1) This represents the aggregate voting and dispositive power of shares of Common Stock that may be deemed to be beneficially owned by JAB Indulgence. JAB Holding Company S.a r.l. ("JAB Holding Company") may be deemed to have beneficial ownership of such shares since JAB Indulgence is an indirect subsidiary of JAB Holding Company. Neither the filing of this Statement nor any of its contents shall be deemed to constitute an admission by JAB Holding Company that it is the beneficial owner of any of the common stock referred to herein for purposes of Section 13(d) of the Exchange Act, or for any other purpose.

(2) The percentage ownership is based upon 170,300,000 Shares issued and outstanding (as rounded to the nearest hundred thousand Shares in the Latest Disclosure) as of February 14, 2025, as set forth in the Latest Disclosure.</commentContent>
      </reportingPersonInfo>
      <reportingPersonInfo>
        <reportingPersonCIK>0001746867</reportingPersonCIK>
        <reportingPersonNoCIK>N</reportingPersonNoCIK>
        <reportingPersonName>Joh. A. Benckiser S.a r.l.</reportingPersonName>
        <fundType>OO</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>N4</citizenshipOrOrganization>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>74190990.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>74190990.00</sharedDispositivePower>
        <aggregateAmountOwned>74190990.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>43.56</percentOfClass>
        <typeOfReportingPerson>HC</typeOfReportingPerson>
        <commentContent>(1) This represents the aggregate voting and dispositive power of shares of Common Stock that may be deemed to be beneficially owned by JAB Indulgence. Joh. A. Benckiser S.a r.l. ("Joh. A. Benckiser") may be deemed to have beneficial ownership of such shares since JAB Indulgence is an indirect subsidiary of Joh. A. Benckiser. Neither the filing of this Statement nor any of its contents shall be deemed to constitute an admission by Joh. A. Benckiser that it is the beneficial owner of any of the Common Stock referred to herein for purposes of Section 13(d) of the Exchange Act, or for any other purpose.

(2) The percentage ownership is based upon 170,300,000 Shares issued and outstanding (as rounded to the nearest hundred thousand Shares in the Latest Disclosure) as of February 14, 2025, as set forth in the Latest Disclosure.</commentContent>
      </reportingPersonInfo>
      <reportingPersonInfo>
        <reportingPersonCIK>0001579044</reportingPersonCIK>
        <reportingPersonNoCIK>N</reportingPersonNoCIK>
        <reportingPersonName>Agnaten SE</reportingPersonName>
        <fundType>OO</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>N4</citizenshipOrOrganization>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>74190990.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>74190990.00</sharedDispositivePower>
        <aggregateAmountOwned>74190990.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>43.56</percentOfClass>
        <typeOfReportingPerson>HC</typeOfReportingPerson>
        <commentContent>(1) This represents the aggregate voting and dispositive power of shares of Common Stock that may be deemed to be beneficially owned by JAB Indulgence. Agnaten SE ("Agnaten") may be deemed to have beneficial ownership of such shares since JAB Indulgence is an indirect subsidiary of Agnaten. Neither the filing of this Statement nor any of its contents shall be deemed to constitute an admission by Agnaten that it is the beneficial owner of any of the Common Stock referred to herein for purposes of Section 13(d) of the Exchange Act, or for any other purpose.

(2) The percentage ownership is based upon 170,300,000 Shares issued and outstanding (as rounded to the nearest hundred thousand Shares in the Latest Disclosure) as of February 14, 2025, as set forth in the Latest Disclosure.</commentContent>
      </reportingPersonInfo>
      <reportingPersonInfo>
        <reportingPersonCIK>0001394212</reportingPersonCIK>
        <reportingPersonNoCIK>N</reportingPersonNoCIK>
        <reportingPersonName>Lucresca SE</reportingPersonName>
        <fundType>OO</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>N4</citizenshipOrOrganization>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>74190990.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>74190990.00</sharedDispositivePower>
        <aggregateAmountOwned>74190990.00</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>43.56</percentOfClass>
        <typeOfReportingPerson>HC</typeOfReportingPerson>
        <commentContent>(1) This represents the aggregate voting and dispositive power of shares of Common Stock that may be deemed to be beneficially owned by JAB Indulgence. Lucresca SE ("Lucresca") may be deemed to have beneficial ownership of such shares since JAB Indulgence is an indirect subsidiary of Lucresca. Neither the filing of this Statement nor any of its contents shall be deemed to constitute an admission by Lucresca that it is the beneficial owner of any of the Common Stock referred to herein for purposes of Section 13(d) of the Exchange Act, or for any other purpose.

(2) The percentage ownership is based upon 170,300,000 Shares issued and outstanding (as rounded to the nearest hundred thousand Shares in the Latest Disclosure) as of February 14, 2025, as set forth in the Latest Disclosure.</commentContent>
      </reportingPersonInfo>
    </reportingPersons>
    <items1To7>
      <item1>
        <securityTitle>Common Stock, Par Value $0.01 Per Share</securityTitle>
        <issuerName>Krispy Kreme, Inc.</issuerName>
        <issuerPrincipalAddress>
          <com:street1>2116 HAWKINS STREET</com:street1>
          <com:city>CHARLOTTE</com:city>
          <com:stateOrCountry>NC</com:stateOrCountry>
          <com:zipCode>28203</com:zipCode>
        </issuerPrincipalAddress>
        <commentText>This Amendment No. 12 amends and supplements the prior statement on Schedule 13D as filed on July 16, 2021, as amended by Amendment No. 1 filed on August 31, 2021, Amendment No. 2 filed on September 13, 2021, Amendment No. 3 filed on November 29, 2021, Amendment No. 4 filed on December 2, 2021, Amendment No. 5 filed on February 25, 2022, Amendment No. 6 filed on March 18, 2022, Amendment No. 7 filed on August 17, 2022, Amendment No. 8 filed on March 1, 2023, Amendment No. 9 filed on August 11, 2023, Amendment No. 10 filed on November 22, 2023 and Amendment No. 11 filed on August 13, 2024 (as so amended, the "Schedule 13D"), by (i) JAB Indulgence B.V., a private limited liability company (besloten vennootschap met beperkte aansprakelijkheid) organized under the laws of the Netherlands ("JAB Indulgence"), (ii) JAB Holdings B.V., a private limited liability company (besloten vennootschap met beperkte aansprakelijkheid) organized under the laws of the Netherlands, which is the parent company of JAB Indulgence ("JAB Holdings"), (iii) JAB Investments S.a r.l., a private limited liability company incorporated under the laws of Luxembourg, which is the parent company of JAB Holdings ("JAB Investments"), (iv) JAB Holding Company S.a r.l., a private limited liability company incorporated under the laws of Luxembourg, which is the parent company of JAB Investments ("JAB Holding Company"), (v) Joh. A. Benckiser S.a r.l., a private limited liability company incorporated under the laws of Luxembourg, which is a parent company of JAB Holding Company ("Joh. A. Benckiser"), (vi) Agnaten SE, a private company incorporated under the laws of Luxembourg, which is a parent company of Joh. A. Benckiser ("Agnaten"), and (vii) Lucresca SE, a private company incorporated under the laws of Luxembourg, which is a parent company of Joh. A. Benckiser ("Lucresca," and together with JAB Indulgence, JAB Holdings, JAB Investments, JAB Holding Company, Joh. A. Benckiser and Agnaten, the "Reporting Persons"). Except as set forth herein, all items remain as previously reported in the Schedule 13D.</commentText>
      </item1>
      <item4>
        <transactionPurpose>Item 4 is hereby amended and supplemented as follows:

Arrangements with Bernardo Hees

On April 23, 2025, JAB Indulgence agreed to sell to Bernardo Hees 694,445 shares of common stock, par value $0.01 per share (the "Shares"), of Krispy Kreme, Inc. (the "Company") for an aggregate purchase price of $3,000,000, pursuant to a Stock Purchase Agreement by and between JAB Indulgence and Mr. Hees (the "Stock Purchase Agreement").

Also pursuant to the Stock Purchase Agreement, JAB Indulgence agreed to grant to Mr. Hees, who will provide consulting services to JAB Holdings B.V. with respect to its indirect interest in the Company, (i) an option to purchase 4,166,670 Shares currently held by JAB Indulgence (the "Matching Option") and (ii) a one-time incentive award in the form of restricted stock units with respect to 173,612 Shares (the "RSUs").  Each of the Matching Option (or a portion thereof) and the RSUs will vest on the fifth anniversary of the grant date, subject to certain terms and conditions to be included in an award agreement between JAB Indulgence and Mr. Hees, as more fully described in the Stock Purchase Agreement substantially in the form attached as Exhibit 8 to this Amendment No. 12.</transactionPurpose>
      </item4>
      <item5>
        <percentageOfClassSecurities>JAB Indulgence beneficially owns 74,190,990 Shares, which represents 43.56% of the issued and outstanding Shares as of February 14, 2025, as set forth in the Annual Report on Form 10-K (the "Latest Disclosure"), filed by the Company with the United States Securities and Exchange Commission (the "Commission") on February 27, 2025.</percentageOfClassSecurities>
        <numberOfShares>Each other Reporting Person may be deemed, for purposes of Rule 13d-3 under the Exchange Act, to share the power to vote or dispose, or to direct the voting or disposition of, the 74,190,990 Shares beneficially owned by JAB Indulgence. Therefore, for the purpose of Rule 13d-3, JAB Holdings, JAB Investments, JAB Holding Company, Joh. A. Benckiser, Agnaten and Lucresca may be deemed to be the beneficial owners of an aggregate of 74,190,990 Shares, which represents 43.56% of the issued and outstanding Shares as of February 14, 2025, as set forth in the Latest Disclosure.

Except as set forth in this Item 5(a), none of the Reporting Persons, and, to the best knowledge of the Reporting Persons, none of the persons named in Schedule A hereto beneficially owns any Shares.  Neither the filing of this Schedule 13D nor any of its contents shall be deemed to constitute an admission by the Reporting Persons that it is the beneficial owner of any Shares.</numberOfShares>
        <transactionDesc>Except as set forth in Item 4, none of the Reporting Persons, and to the best knowledge of the Reporting Persons, none of the persons named in Schedule A hereto, has effected any transactions in the Shares during the past 60 days.</transactionDesc>
        <listOfShareholders>None of the Reporting Persons and, to the best knowledge of the Reporting Persons, none of the persons named in Schedule A hereto or any other person, and no other person, has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities of the Company reported herein.</listOfShareholders>
        <date5PercentOwnership>Not applicable.</date5PercentOwnership>
      </item5>
      <item6>
        <contractDescription>As described in Item 4 above, JAB Indulgence entered into the Stock Purchase Agreement with Mr. Hees, substantially in the form attached as Exhibit 8 to this Amendment No. 12, which is incorporated by reference into this Item 6.</contractDescription>
      </item6>
      <item7>
        <filedExhibits>Exhibit No. 8:  Stock Purchase Agreement, dated as of April 23, 2025, by and between JAB Indulgence B.V. and Bernardo Hees.</filedExhibits>
      </item7>
    </items1To7>
    <signatureInfo>
      <signaturePerson>
        <signatureReportingPerson>JAB Indulgence B.V.</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Sebastiaan Wolvers</signature>
          <title>Sebastiaan Wolvers, Managing Director</title>
          <date>04/25/2025</date>
        </signatureDetails>
        <signatureDetails>
          <signature>/s/ Rafael Da Cunha</signature>
          <title>Rafael Da Cunha, Managing Director</title>
          <date>04/25/2025</date>
        </signatureDetails>
      </signaturePerson>
      <signaturePerson>
        <signatureReportingPerson>JAB Holdings B.V.</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Frank Engelen</signature>
          <title>Frank Engelen, Managing Director</title>
          <date>04/25/2025</date>
        </signatureDetails>
        <signatureDetails>
          <signature>/s/ Sebastiaan Wolvers</signature>
          <title>Sebastiaan Wolvers, Managing Director</title>
          <date>04/25/2025</date>
        </signatureDetails>
      </signaturePerson>
      <signaturePerson>
        <signatureReportingPerson>JAB Investments S.a r.l.</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Sebastiaan Wolvers</signature>
          <title>Sebastiaan Wolvers, Manager</title>
          <date>04/25/2025</date>
        </signatureDetails>
        <signatureDetails>
          <signature>/s/ Jonathan Norman</signature>
          <title>Jonathan Norman, Manager</title>
          <date>04/25/2025</date>
        </signatureDetails>
      </signaturePerson>
      <signaturePerson>
        <signatureReportingPerson>JAB Holding Company S.a r.l.</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Frank Engelen</signature>
          <title>Frank Engelen, Manager</title>
          <date>04/25/2025</date>
        </signatureDetails>
        <signatureDetails>
          <signature>/s/ Jonathan Norman</signature>
          <title>Jonathan Norman, Manager</title>
          <date>04/25/2025</date>
        </signatureDetails>
      </signaturePerson>
      <signaturePerson>
        <signatureReportingPerson>Joh. A. Benckiser S.a r.l.</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Joachim Creus</signature>
          <title>Joachim Creus, Managing Director</title>
          <date>04/25/2025</date>
        </signatureDetails>
        <signatureDetails>
          <signature>/s/ Jonathan Norman</signature>
          <title>Jonathan Norman, Managing Director</title>
          <date>04/25/2025</date>
        </signatureDetails>
      </signaturePerson>
      <signaturePerson>
        <signatureReportingPerson>Agnaten SE</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Joachim Creus</signature>
          <title>Joachim Creus, Authorized Representative</title>
          <date>04/25/2025</date>
        </signatureDetails>
      </signaturePerson>
      <signaturePerson>
        <signatureReportingPerson>Lucresca SE</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Joachim Creus</signature>
          <title>Joachim Creus, Authorized Representative</title>
          <date>04/25/2025</date>
        </signatureDetails>
      </signaturePerson>
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<DESCRIPTION>EXHIBIT 8
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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Exhibit 8</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>EXECUTION VERSION</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">STOCK PURCHASE AGREEMENT</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This STOCK PURCHASE AGREEMENT,
dated as of April 23, 2025 (this &ldquo;<U>Agreement</U>&rdquo;), is made and entered into by and between JAB INDULGENCE B.V., a private
company with limited liability (<I>besloten vennootschap met beperkte aansprakelijkheid</I>) incorporated under the laws of the Netherlands
(&ldquo;<U>Seller</U>&rdquo; or &ldquo;<U>JAB Indulgence</U>&rdquo;), and BERNARDO HEES (&ldquo;<U>Buyer</U>&rdquo; or &ldquo;<U>Hees</U>&rdquo;)
(collectively, the &ldquo;<U>Parties</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, Seller desires
to sell to Buyer, and Buyer wishes to purchase from Seller, shares (the &ldquo;<U>Shares</U>&rdquo;) of Common Stock, par value $0.01
per share (the &ldquo;<U>Common Stock</U>&rdquo;), of Krispy Kreme, Inc. (the &ldquo;<U>Company</U>&rdquo;) held by Seller; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, concurrent
with the entry into this Agreement, the Parties are entering into an Advisor Services Agreement (the &ldquo;<U>Services Agreement</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">NOW THEREFORE<FONT STYLE="font-weight: normal">,
in consideration of the foregoing and the mutual covenants and agreements contained herein, and intending to be legally bound hereby,
the parties agree as follows:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1.&nbsp;&nbsp;&nbsp;&nbsp;&#9;<FONT STYLE="font-size: 10pt"><B><U>Purchase
of Common Stock</U></B>. Seller agrees to sell to Buyer, and Buyer agrees to purchase from Seller, 694,445 Shares of Common Stock of the
Company (the &ldquo;<U>Purchased Shares</U>&rdquo;) for an aggregate total purchase price of $3,000,000 (the &ldquo;<U>Purchase Price</U>&rdquo;),
representing a purchase price per share equal to the closing price for the Shares on the New York Stock Exchange on April 22, 2025. Buyer
may satisfy Buyer&rsquo;s obligation to purchase the Purchased Shares by causing an entity or trust solely owned and managed by Buyer
and designated by Buyer (a &ldquo;<U>Controlled Entity</U>&rdquo;) to purchase such Purchased Shares, provided, that in connection with
such purchase through a Controlled Entity, both Buyer and such Controlled Entity will be subject to the same obligations and restrictions
as those to which Buyer would have been subject had Buyer purchased the Purchased Shares directly.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.&nbsp;&nbsp;&nbsp;&nbsp;&#9;<FONT STYLE="font-size: 10pt"><B><U>Closing</U></B>.
(a) At the closing (the &ldquo;<U>Closing</U>&rdquo; and the date on which the Closing occurs, the &ldquo;<U>Purchase Date</U>&rdquo;)
of the purchase and sale of the Purchased Shares, which shall take place as soon as reasonably practicable following the Commencement
Date (as defined in the Services Agreement) but in no event later than April 23, 2025, Seller will (i) sell to Buyer the Purchased Shares
free and clear of all liens, other than any restrictions arising under the applicable securities laws, and (ii) cause to be delivered
to Buyer evidence of the registration of the Purchased Shares in Buyer&rsquo;s (or, if applicable, the Controlled Entity&rsquo;s) name
with the Company&rsquo;s transfer agent.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 117pt">(b) At the Closing, Buyer
will make payment of the Purchase Price in respect of the Shares, in immediately available funds by wire transfer to a bank account designated
by Seller.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.&nbsp;&nbsp;&nbsp;&nbsp;&#9;<FONT STYLE="font-size: 10pt"><B><U>Representations
and Warranties of Seller</U></B>. Seller hereby represents and warrants to Buyer that (i) Seller owns and will deliver the Purchased Shares
to Buyer at Closing, free and clear of any and all liens, claims, options, security interests and encumbrances of any kind, except any
restrictions under applicable federal and state securities laws, and Seller will convey to Buyer good, valid and marketable title to the
Purchased Shares, except any restrictions under applicable federal and state securities laws, (ii) Seller has all requisite power and
authority to execute, deliver and perform its obligations under this Agreement and to consummate the transactions contemplated hereby,
in each case, without the need of any waiver or consent of any entity, person or governmental authority, (iii) this Agreement and the
transactions contemplated hereby have been duly authorized by all necessary corporate action by Seller and (iv) this Agreement has been
duly and validly executed and delivered by Seller and constitutes the valid and binding obligation of Seller, enforceable in accordance
with its terms.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">4.&nbsp;&nbsp;&nbsp;&nbsp;&#9;<FONT STYLE="font-size: 10pt"><B><U>Representations
and Warranties of Buyer</U></B>. (a) Buyer hereby represents and warrants to Seller that (i) Buyer has all requisite power and authority
to execute, deliver and perform its obligations under this Agreement and to consummate the transactions contemplated hereby, in each case,
without the need of any waiver or consent of any entity, person or governmental authority (ii) this Agreement and the transactions contemplated
hereby have been duly authorized by all necessary action by Buyer, and, to the extent necessary under applicable community property or
other law, Buyer&rsquo;s spouse, as applicable, (iii) this Agreement has been duly and validly executed and delivered by Buyer and constitutes
the valid and binding obligation of Buyer, enforceable in accordance with its terms, (iv) Buyer has carefully reviewed all information
that it and its advisers deem necessary to make its decision to enter into the transaction, (v) Buyer is a sophisticated investor, an
&ldquo;accredited investor&rdquo; as that term is defined in Rule 501(a)(3) of Regulation D promulgated under the Securities Act of 1933,
as amended, and has the capacity to evaluate the risks and merits of the transactions contemplated by this Agreement, (vi) Buyer has made
an informed decision with respect to the transactions contemplated by this Agreement without reliance on any advice from Seller, (vii)
Buyer is acquiring the Purchased Shares for investment and not with a view toward distribution in a manner which would violate the Securities
Act of 1933 (the &ldquo;<U>Securities Act</U>&rdquo;), (viii) Buyer&rsquo;s financial situation is such that it can afford to bear the
economic risk of holding the Purchased Shares for an indefinite period, and Buyer can afford to suffer the complete loss of its investment
in the Purchased Shares and (ix) Buyer understands that the Purchased Shares have not been registered under the Securities Act and are
being sold to it in a transaction that is exempt from the registration requirements of the Securities Act and other applicable securities
laws, must be held by Buyer indefinitely unless subsequently registered under the Securities Act or offered and sold pursuant to an exemption
from such registration requirement and in accordance with other applicable securities laws, and shall bear a restrictive legend in substantially
the following form (and a stop-transfer order may be placed against transfer of such Shares):</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">THIS SECURITY HAS NOT BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE &ldquo;SECURITIES ACT&rdquo;), OR THE SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION.
NEITHER THIS SECURITY NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE
DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, SUCH REGISTRATION. THE HOLDER
OF THIS SECURITY, BY ITS ACCEPTANCE HEREOF, AGREES ON ITS OWN BEHALF AND ON BEHALF OF ANY INVESTOR ACCOUNT FOR WHICH IT HAS PURCHASED
SECURITIES, TO OFFER, SELL OR OTHERWISE TRANSFER SUCH SECURITY, ONLY (A) TO THE COMPANY OR ANY SUBSIDIARY OF THE COMPANY, (B) PURSUANT
TO A REGISTRATION STATEMENT THAT HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, OR (C) PURSUANT TO AN AVAILABLE EXEMPTION FROM
THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT.<BR>
<BR>
</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 117pt">(b) Buyer hereby understands
and acknowledges that (a) neither Seller nor any of its affiliates, principals, stockholders, partners, employees or agents has provided
Buyer with any investment advice or rendered any opinion to Buyer as to the Company or whether the purchase of the Purchased Shares is
prudent or suitable, and Buyer is not relying on any representation or warranty of Seller other than those set forth in <U>Section 3</U>
hereof, and (b) Seller and its affiliates may possess nonpublic information regarding the Company which has not been disclosed and that
may impact the value of the Purchased Shares (the &ldquo;<U>Information</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 117pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 117pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 117pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.&nbsp;&nbsp;&nbsp;&nbsp;&#9;<FONT STYLE="font-size: 10pt"><B><U>Limitation
on Liability</U></B>. None of Seller or its affiliates, or its or their principals, stockholders, partners, employees or agents shall
have any liability to Buyer, its affiliates, partners, agents, grantors or beneficiaries, due to or in connection with Seller&rsquo;s
use or non-disclosure of the Information or otherwise as a result of the transactions contemplated hereby, and Buyer hereby irrevocably
waives any claim that it might have based on the failure of Seller to disclose the Information.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">6.&nbsp;&nbsp;&nbsp;&nbsp;&#9;<FONT STYLE="font-size: 10pt"><B><U>Registration
of Shares; Equity Awards</U></B>. (a) On the date of Closing, Seller will (or will cause one of its affiliates to) grant to Buyer the
Matching Option and Sign-On Bonus RSUs (as defined in the Services Agreement) on the terms set forth on <U>Exhibit A</U>. The terms of
the Matching Option and Sign-On Bonus RSUs will be subject to and governed by the definitive documentation relating to such transactions
and awards.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 117pt">(b) Seller shall use its reasonable
best efforts to cause the Company to register the resale of the Purchased Shares and the Shares delivered in respect of the Matching Option
and the Sign-On Bonus RSUs to the extent reasonably necessary to allow Buyer to sell Shares to cover the payment of the exercise price
and taxes owed in respect of the Matching Option and Sign-On Bonus Shares. Notwithstanding the foregoing, Buyer&rsquo;s obligation to
hold the Purchased Shares following the Closing shall be subject to the ownership requirements described in the Services Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.&nbsp;&nbsp;&nbsp;&nbsp;&#9;<FONT STYLE="font-size: 10pt"><B><U>Miscellaneous</U></B>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.1 <B>Governing Law.</B>
This Agreement, and any claim, controversy or dispute arising under or related to this Agreement, the relationship of the parties, and/or
the interpretation and enforcement of the rights and duties of the parties, shall be governed by, and shall be construed and interpreted
in accordance with the laws of the State of New York, without regard to the conflict of laws rules thereof or that would result in the
application of the laws of any other jurisdiction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.2 <B>Jury Trial Waiver.
</B>EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT TO TRIAL BY JURY WITH RESPECT TO ANY
ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.3 <B>Submission to Jurisdiction.
</B>Any action, suit or proceeding seeking to enforce any provision of, or based on any matter arising out of or in connection with, this
Agreement or the transactions contemplated hereby shall only be brought in a state or federal court located in the State of New York,
and each party consents to the exclusive jurisdiction and venue of such courts (and of the appropriate appellate courts therefrom) in
any such action, suit or proceeding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.4 <B>Further Assurances.
</B>The parties hereto agree to sign or execute all such other deeds and documents and do such other things as may be necessary or desirable
for more completely and effectually carrying out the terms and intention of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.5 <B>Binding Effect. </B>This
Agreement shall be binding upon the parties hereto and their respective successors and permitted assigns, and shall inure to the benefit
of the parties hereto, their respective successors and permitted assigns.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.6 <B>No Assignment. </B>This
Agreement shall not be assigned by any party hereto without the express prior written consent of the other parties hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.7 <B>Counterparts. </B>This
Agreement may be signed in any number of counterparts (including by facsimile or other electronic transmission), each of which shall be
an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. This Agreement shall become effective
when each party hereto shall have received counterparts hereof signed by all of the parties hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.8 <B>Severability. </B>If
one or more provisions of this Agreement are held to be unenforceable under applicable law, such provision shall be excluded from this
Agreement and the balance of the Agreement shall be interpreted as if such provision were so excluded, but as consistent with its objectives
as possible, and shall be enforceable in accordance with its terms.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.9 <B>Entire Agreement. </B>This
Agreement constitutes the entire agreement among the parties hereto with respect to the subject matter hereof and supersedes all prior
negotiations and agreements with respect to the subject matter hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.10 <B>Third Party Beneficiaries.
</B>This Agreement is for the benefit of the parties hereto and is not intended to confer any rights upon any other third parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.11 <B>Amendments. </B>This
Agreement may not be modified, amended or supplemented except in a writing signed by each of the parties hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.12 <B>Specific Performance;
Remedies. </B>Each party acknowledges and agrees that the other party would be damaged irreparably if any provision of this Agreement
were not performed in accordance with its specific terms or were otherwise breached. Accordingly, the parties will be entitled to an injunction
or injunctions to prevent breaches of the provisions of this Agreement and to enforce specifically this Agreement and its provisions in
addition to any other remedy to which they may be entitled, at law or in equity. Except as expressly provided herein, the rights, obligations
and remedies created by this Agreement are cumulative and in addition to any other rights, obligations or remedies otherwise available
at law or in equity. Except as expressly provided herein, nothing herein will be considered an election of remedies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.13 <B>Titles and Subtitles.
</B>The titles and subtitles used in this Agreement are used for convenience only and are not to be considered in construing or interpreting
this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.14 <B>Confidentiality. </B>Each
of Seller and Buyer shall maintain the confidentiality of the terms of this Agreement and the transactions contemplated hereby unless
otherwise required by law or regulatory authority, or other legal process, except that each of Seller and Buyer may disclose the terms
of this Agreement and the transactions contemplated hereby to its affiliates, attorneys, accountants, the Company, and other professionals
and in connection with the enforcement of its respective rights and obligations hereunder, provided that such persons are made aware of
the confidentiality provisions and Seller or Buyer, as the case may be, is responsible for the failure of such persons to respect the
confidentiality obligations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.15 <B>Fees and Expenses.
</B>Each party will bear its own costs and expenses incurred in connection with the preparation, execution and performance of this Agreement
and the transactions contemplated hereby, including all fees and expenses of agents, representatives, financial advisors, legal counsel
and accountants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><I>[Signature Page Follows.]</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF, the parties
hereto have caused this Agreement to be executed as of the date first written above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt"><B>JAB INDULGENCE B.V. (as &ldquo;Seller&rdquo;)</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 45%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">/s/ Sebastiaan Wolvers</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Name: Sebastiaan Wolvers</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Title: Managing Director</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">/s/ Rafael Cunha</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Name: Rafael Cunha</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Title: Managing Director</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.75in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.75in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.75in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.75in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.75in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.75in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.75in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.75in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[Signature Page to Stock Purchase Agreement]</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.75in; text-indent: -0.25in">&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt"><B>BERNARDO HEES (as &ldquo;Buyer&rdquo;)</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 45%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">/s/ Bernardo Hees</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[Signature Page to Stock Purchase Agreement]</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>Exhibit A</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-left: Black 1pt solid; border-top: Black 1pt solid; border-right: Black 1pt solid; width: 24%; padding-right: 2.15pt; padding-left: 2.15pt"><FONT STYLE="font-size: 10pt"><B>Matching Option - Vesting</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; width: 76%; border-right: Black 1pt solid; padding-right: 2.15pt; padding-left: 2.15pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 11.3pt; text-indent: -9.75pt"><FONT STYLE="font-family: Symbol">&middot;&#9;</FONT>On
    the Purchase Date, JAB Indulgence shall grant Hees an option to purchase an additional 4,166,670 Shares currently held by JAB Indulgence
    (the &ldquo;<U>Matching Option</U>&rdquo;).</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 11.3pt">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 11.3pt; text-indent: -9.75pt"><FONT STYLE="font-family: Symbol">&middot;&#9;</FONT>The
    Matching Option shall be subject to the terms of an award agreement entered into between JAB Indulgence and Hees which will govern the
    award of the Matching Option (the &ldquo;<U>Option Award Agreement</U>&rdquo;). For the avoidance of doubt, the Matching Option will not
    be granted under the Company&rsquo;s 2021 Omnibus Incentive Plan.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 11.3pt; text-indent: -9.75pt"><FONT STYLE="font-family: Symbol">&middot;&#9;</FONT>The
    Matching Option shall be subject to both a service-based vesting condition (the &ldquo;<U>Service Condition</U>&rdquo;) and the performance-based
    vesting condition described below. The Service Condition shall be satisfied with respect to 100% of the Matching Option on the fifth (5<SUP>th</SUP>)
    anniversary of the Purchase Date, subject to Hees&rsquo; continued service to JAB Holdings B.V. (&ldquo;<U>JAB Holdings</U>&rdquo;) through
    such fifth anniversary.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 11.3pt; text-indent: -9.75pt"><FONT STYLE="font-family: Symbol">&middot;&#9;</FONT>Subject
    to Hees&rsquo; satisfaction of the Service Condition, the Matching Option (or a portion thereof) will be eligible to fully vest on the
    fifth (5<SUP>th</SUP>) anniversary of the Purchase Date, based on the volume weighted average closing price of a Share (the &ldquo;<U>VWAP</U>&rdquo;)
    during the 10 trading days immediately following the date on which earnings are released for the first calendar quarter of the year in
    which the fifth (5<SUP>th</SUP>) anniversary of the Purchase Date occurs (the &ldquo;<U>Performance Condition</U>&rdquo;).</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 11.3pt">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 11.3pt; text-indent: -9.75pt"><FONT STYLE="font-family: Symbol">&middot;&#9;</FONT>The
    percentage of the Matching Option that is eligible to fully vest based upon the satisfaction of the Performance Condition is as follows
    (using linear interpolation to determine vesting when the VWAP is between two thresholds shown below):</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 2.15pt; padding-left: 2.15pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; padding-right: 2.15pt; padding-left: 2.15pt">&nbsp;</TD></TR>
</TABLE>

<P STYLE="margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="background-color: #E8E8E8">
    <TD STYLE="border-right: Black 1pt solid; background-color: White; width: 24%; border-left: Black 1pt solid"><I>&nbsp;</I></TD>
    <TD STYLE="background-color: White; width: 21%">&nbsp;</TD>
    <TD STYLE="width: 19%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 0.05in; padding-left: 0.05in">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Percentage of the Matching Option</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>That Fully Vests:</B></P></TD>
    <TD STYLE="width: 18%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt"><B>VWAP Target ($USD)</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; background-color: White; width: 18%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; background-color: White; border-left: Black 1pt solid"><I>&nbsp;</I></TD>
    <TD STYLE="background-color: White">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">0%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">&le; $4.31</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; background-color: White">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; background-color: White; border-left: Black 1pt solid"><I>&nbsp;</I></TD>
    <TD STYLE="background-color: White">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">16.67%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">$4.32</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; background-color: White">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; background-color: White; border-left: Black 1pt solid"><I>&nbsp;</I></TD>
    <TD STYLE="background-color: White">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">17.50%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">$4.99</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; background-color: White">&nbsp;</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="border-right: Black 1pt solid; background-color: White; border-left: Black 1pt solid"><I>&nbsp;</I></TD>
    <TD STYLE="background-color: White">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">18.33%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">$5.76</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; background-color: White">&nbsp;</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="border-right: Black 1pt solid; background-color: White; border-left: Black 1pt solid"><I>&nbsp;</I></TD>
    <TD STYLE="background-color: White">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">19.17%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">$6.40</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; background-color: White">&nbsp;</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="border-right: Black 1pt solid; background-color: White; border-left: Black 1pt solid"><I>&nbsp;</I></TD>
    <TD STYLE="background-color: White">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">20.83%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">$7.10</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; background-color: White">&nbsp;</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="border-right: Black 1pt solid; background-color: White; border-left: Black 1pt solid"><I>&nbsp;</I></TD>
    <TD STYLE="background-color: White">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">26.67%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">$7.88</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; background-color: White">&nbsp;</TD></TR>
  <TR STYLE="background-color: white">
    <TD STYLE="border-right: Black 1pt solid; background-color: White; border-left: Black 1pt solid"><I>&nbsp;</I></TD>
    <TD STYLE="background-color: White">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">35.00%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">$8.28</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; background-color: White">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; background-color: White; border-left: Black 1pt solid"><I>&nbsp;</I></TD>
    <TD STYLE="background-color: White">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">44.17%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">$8.69</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; background-color: White">&nbsp;</TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="border-right: Black 1pt solid; background-color: White; border-left: Black 1pt solid"><I>&nbsp;</I></TD>
    <TD STYLE="background-color: White">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">50.00%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">$9.11</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; background-color: White">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; background-color: White; border-left: Black 1pt solid"><I>&nbsp;</I></TD>
    <TD STYLE="background-color: White">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">53.57%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">$9.52</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; background-color: White">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; background-color: White; border-left: Black 1pt solid"><I>&nbsp;</I></TD>
    <TD STYLE="background-color: White">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">57.14%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">$9.96</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; background-color: White">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; background-color: White; border-left: Black 1pt solid"><I>&nbsp;</I></TD>
    <TD STYLE="background-color: White">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">60.71%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">$10.41</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; background-color: White">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; background-color: White; border-left: Black 1pt solid"><I>&nbsp;</I></TD>
    <TD STYLE="background-color: White">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">64.29%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">$10.89</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; background-color: White">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; background-color: White; border-left: Black 1pt solid"><I>&nbsp;</I></TD>
    <TD STYLE="background-color: White">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">67.86%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">$11.38</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; background-color: White">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; background-color: White; border-left: Black 1pt solid"><I>&nbsp;</I></TD>
    <TD STYLE="background-color: White">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">71.43%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">$11.90</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; background-color: White">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; background-color: White; border-left: Black 1pt solid"><I>&nbsp;</I></TD>
    <TD STYLE="background-color: White">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">75.00%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">$12.45</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; background-color: White">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; background-color: White; border-left: Black 1pt solid"><I>&nbsp;</I></TD>
    <TD STYLE="background-color: White">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">78.57%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">$13.01</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; background-color: White">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; background-color: White; border-left: Black 1pt solid"><I>&nbsp;</I></TD>
    <TD STYLE="background-color: White">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">82.15%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">$13.61</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; background-color: White">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; background-color: White; border-left: Black 1pt solid"><I>&nbsp;</I></TD>
    <TD STYLE="background-color: White">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">85.71%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">$14.23</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; background-color: White">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; background-color: White; border-left: Black 1pt solid"><I>&nbsp;</I></TD>
    <TD STYLE="background-color: White">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">89.29%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">$14.88</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; background-color: White">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; background-color: White; border-left: Black 1pt solid"><I>&nbsp;</I></TD>
    <TD STYLE="background-color: White">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">92.86%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">$15.55</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; background-color: White">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; background-color: White; border-left: Black 1pt solid"><I>&nbsp;</I></TD>
    <TD STYLE="background-color: White">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">96.43%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">$16.26</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; background-color: White">&nbsp;</TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="border-right: Black 1pt solid; background-color: White; border-left: Black 1pt solid"><I>&nbsp;</I></TD>
    <TD STYLE="background-color: White">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">100.00%</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-right: 0.05in; padding-left: 0.05in; text-align: center"><FONT STYLE="font-size: 10pt">$17.00</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; background-color: White">&nbsp;</TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; background-color: White">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: White">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: White; white-space: nowrap; padding-right: 0.05in; padding-left: 0.05in; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: White; white-space: nowrap; padding-right: 0.05in; padding-left: 0.05in; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; border-right: Black 1pt solid; background-color: White">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="margin: 0">&nbsp;</P>

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<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24%; border: Black 1pt solid; padding-right: 2.15pt; padding-left: 2.15pt"></TD>
    <TD STYLE="width: 76%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 2.15pt; padding-left: 2.15pt">

    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 11.3pt; text-indent: -9.75pt"><FONT STYLE="font-family: Symbol">&middot;&#9;</FONT>Any
    portion of the Matching Option that has not fully vested as of the date of the earliest to occur of (i) the fifth (5<SUP>th</SUP>) anniversary
    of the Purchase Date, (ii)&nbsp;Hees ceasing to provide the Consulting Services for any reason prior to the fifth (5<SUP>th</SUP>) anniversary
    of the Purchase Date, and (iii) Hees&rsquo; breach of any of the restrictive covenants set forth in the Services Agreement or the applicable
    award agreement (the earliest of such dates to occur, the &ldquo;<U>Matching Option Forfeiture Date</U>&rdquo;) will be forfeited as of
    such date for no consideration.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 11.3pt">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 11.3pt; text-indent: -9.75pt"><FONT STYLE="font-family: Symbol">&middot;&#9;</FONT><I>Qualifying
    Termination</I>. Notwithstanding the foregoing, if prior to the fifth (5<SUP>th</SUP>) anniversary of the Purchase Date, Hees ceases to
    provide the Consulting Services due to a Qualifying Termination, then (i) Hees shall be deemed to have satisfied the Service Condition
    as of the date of such termination, (ii) a pro-rata portion of the Matching Option shall be eligible to fully vest as of such termination
    date (with such pro-rata portion being determined as a fraction, the numerator of which is equal to the number of days from the Purchase
    Date to such termination date, and the denominator of which is equal to 1,825), depending on the extent to which the Performance Condition
    is achieved as of such termination date (but using the 10 trading days immediately prior to such termination date to determine achievement
    of the Performance Condition), and (iii) any portion of the Matching Option that remains unvested as of such termination date will be
    forfeited for no consideration as of such termination date.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 11.3pt">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 11.3pt; text-indent: -9.75pt"><FONT STYLE="font-family: Symbol">&middot;&#9;</FONT><I>Vesting
    on Earlier Change in Control. </I>Notwithstanding the foregoing, if prior to the Matching Option Forfeiture Date, a Change in Control
    (as defined in the Company&rsquo;s 2021 Omnibus Incentive Plan) occurs, then (i) Hees shall be deemed to have satisfied the Service Condition
    as of the date of such Change in Control, (ii) up to 100% of the Matching Option shall be eligible to fully vest on the date of such Change
    in Control, depending on the extent to which to which the Performance Condition is achieved as of the date of such Change in Control (but
    using the price per Share received by JAB Indulgence in such Change in Control to determine achievement of the Performance Condition).</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 33.05pt"></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="margin: 0"></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

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    <!-- Field: /Page -->

<P STYLE="margin: 0"></P>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24%; border: Black 1pt solid; padding-right: 2.15pt; padding-left: 2.15pt"></TD>
    <TD STYLE="width: 76%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 2.15pt; padding-left: 2.15pt">


    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 11.3pt; text-indent: -9.75pt"><FONT STYLE="font-family: Symbol">&middot;&#9;</FONT><I>Optional
    Vesting on Earlier JAB Sell-Down. </I>Notwithstanding the foregoing, if prior to the Matching Option Forfeiture Date, JAB Indulgence sells
    Shares following the Purchase Date (or settles or otherwise reduces the number of Shares underlying derivative instruments owned by JAB
    Indulgence and its Affiliates) and such transaction does not result in a Change in Control (a &ldquo;<U>JAB Sell-Down</U>&rdquo;), then
    Hees may elect, by giving written notice to JAB Indulgence no later than five (5) business days following JAB Indulgence providing Hees
    notification of such sale (or, in the event of a settlement or reduction in the number of Shares underlying derivative instruments owned
    by JAB Indulgence and its Affiliates, by the 5<SUP>th</SUP> business day of the month following JAB Indulgence providing Hees notification
    of such settlement or reduction), to have the Performance Condition thresholds tested on the Applicable Percentage (as defined below)
    of the Matching Option (a &ldquo;<U>JAB Sell-Down Election</U>&rdquo;) and, if Hees timely makes a JAB Sell-Down Election, then (i) Hees
    shall be deemed to have satisfied the Service Condition as of the date of the JAB Sell-Down on the Applicable Percentage of the Matching
    Option, (ii) up to 100% of the Applicable Percentage of the Matching Option will vest on the date of such JAB Sell-Down Election, to the
    extent to which to which the Performance Condition is achieved (using the price per Share received by JAB Indulgence in such JAB Sell-Down
    to determine achievement of the Performance Condition or the weighted average price used in the relevant settlement or other reduction
    in the number of Shares underlying derivative instruments owned by JAB Indulgence and its Affiliates, as applicable), and (iii) any portion
    of the Applicable Percentage of the Matching Option that does not vest because the Performance Condition is not achieved will be forfeited
    for no consideration on such date. In the event that Hees does not timely make the JAB Sell-Down Election, then the general vesting schedule
    described above shall continue to apply.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 33.05pt">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 11.3pt; text-indent: -9.75pt"><FONT STYLE="font-family: Symbol">&middot;&#9;</FONT><I>Ownership
    Requirement.</I> Except as set forth below, Hees is required to hold all of the Purchased Shares until the earlier of (i) the Matching
    Option Forfeiture Date and (ii) the first date on which both (A) the Matching Option (or the vested portion thereof) has been exercised
    (or has otherwise been cancelled or forfeited) and (B) the Sign-On Bonus RSUs (as defined herein) have vested (or have otherwise been
    cancelled or forfeited), in each case, in accordance with their terms. If Hees sells any of the Purchased Shares prior to such date (without
    the express consent of JAB Indulgence), Hees will forfeit the entire Matching Option and all of the Sign-On Bonus RSUs for no consideration.
    Notwithstanding the foregoing, a percentage of the re-sale restrictions on the Purchased Shares will lapse upon the occurrence of a JAB
    Sell-Down, with the percentage computed by dividing (i) the number of Shares sold by JAB Indulgence (including the settlement or other
    reduction in the number of Shares underlying derivative instruments owned by JAB Indulgence and its Affiliates) by (ii) the total number
    of Shares held by JAB Indulgence immediately following the Purchase Date (including the number of Shares underlying derivative instruments
    owned by JAB Indulgence and its Affiliates) (the &ldquo;<U>Applicable Percentage</U>&rdquo;) provided that this provision shall apply
    only if Hees makes a JAB Sell-Down Election and provided, further, that if the JAB Sell-Down results in JAB Indulgence owning less than
    10% of the then-outstanding Shares of the Company, the Applicable Percentage shall be 100%. For purposes of any JAB Sell-Down associated
    with the settlement or other reduction in the number of Shares underlying derivative instruments owned by JAB Indulgence and its Affiliates,
    the Applicable Percentage shall be calculated on the last day of the calendar month and shall incorporate any settlement or reduction
    occurring during such monthly period, and any JAB Sell-Down Election shall apply to all Shares underlying derivative instruments owned
    by JAB Indulgence and its Affiliates settled or otherwise reduced during such monthly period.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="margin: 0"></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

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<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border: Black 1pt solid; padding-right: 2.15pt; padding-left: 2.15pt; width: 24%"><FONT STYLE="font-size: 10pt"><B>Matching Option - Exercise</B></FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 2.15pt; padding-left: 2.15pt; width: 76%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 11.3pt; text-indent: -9.75pt"><FONT STYLE="font-family: Symbol">&middot;&#9;</FONT>The
    then-vested portion of the Matching Option shall be exercisable at any time during the six (6)-month period immediately following the
    fifth (5<SUP>th</SUP>) anniversary of the Purchase Date. Any portion of the Matching Option which remains unexercised as of the last day
    of such six (6)-month period shall be forfeited on such date for no consideration.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 11.3pt">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 33.05pt; text-indent: -13.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">o&nbsp;&nbsp;&nbsp;&nbsp;</FONT><I>Qualifying
Termination</I>. Notwithstanding the foregoing, if prior to the Matching Option Forfeiture Date, Hees ceases to provide the Consulting
Services due to a Qualifying Termination, then the then-vested portion of the Matching Option shall be exercisable at any time during
the ninety (90) day period following such termination, and any portion of the Matching Option which remains unexercised as of the ninetieth
(90<SUP>th</SUP> ) day following such termination will be forfeited for no consideration as of such termination date.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 33.05pt">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 33.05pt; text-indent: -13.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">o&nbsp;&nbsp;&nbsp;&nbsp;</FONT><I>Change
in Control; JAB Sell-Down Election</I>. Notwithstanding the foregoing, if prior to the Matching Option Forfeiture Date either (i) a Change
in Control occurs or (ii) a JAB Sell-Down occurs and Hees timely makes a JAB Sell-Down Election, then the then-vested portion of the
Matching Option shall be exercisable at any time during the ninety (90)-day period following the Change in Control or the JAB Sell-Down,
as applicable, and any portion of the Matching Option which remains unexercised as of the ninetieth (90<SUP>th</SUP>) day following the
Change in Control or the JAB Sell-Down, as applicable, will be forfeited for no consideration as of such date.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 33.05pt">&nbsp;</P></TD></TR>
</TABLE>

<P STYLE="margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 2.15pt; padding-left: 2.15pt; width: 24%"><FONT STYLE="font-size: 10pt"><B>Sign-On Bonus RSUs</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 2.15pt; padding-left: 2.15pt; width: 76%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 11.3pt; text-indent: -9.75pt"><FONT STYLE="font-family: Symbol">&middot;&#9;</FONT>On
    the Purchase Date, JAB Indulgence will grant Hees a one-time incentive award in the form of 173,612 restricted stock units (the &ldquo;<U>Sign-On
    Bonus RSUs</U>&rdquo;).</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 11.3pt">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 33.05pt; text-indent: -13.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">o&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The
Sign-On Bonus RSUs shall be subject to the terms of an award agreement entered into between JAB Indulgence and Hees which will govern
the award of the Sign-On Bonus RSUs (the &ldquo;<U>RSU Award Agreement</U>,&rdquo; and together with the Option Award Agreement, the
&ldquo;<U>Award Agreements</U>&rdquo;). For the avoidance of doubt, the Sign-On Bonus RSUs will not be granted under the Company&rsquo;s
2021 Omnibus Incentive Plan.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 11.3pt; text-indent: -9.75pt"></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
  </TABLE>
<P STYLE="margin: 0"></P>

<P STYLE="margin: 0">&nbsp;</P>

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<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border: Black 1pt solid; padding-right: 2.15pt; padding-left: 2.15pt; width: 24%"></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 2.15pt; padding-left: 2.15pt; width: 76%">

    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 11.3pt; text-indent: -9.75pt"><FONT STYLE="font-family: Symbol">&middot;&#9;</FONT>Subject
    to Hees&rsquo; continued provision of the Consulting Services through the fifth (5<SUP>th</SUP>) anniversary of the Purchase Date (the
    &ldquo;<U>RSU Vesting Date</U>&rdquo;) and the additional terms of the RSU Award Agreement, 100% of the Sign-On Bonus RSUs will vest on
    the RSU Vesting Date.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 33.05pt; text-indent: -13.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">o&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Any
Sign-On Bonus RSUs that vest in accordance with the RSU Award Agreement will be settled within thirty (30) days following the date on
which such Sign-On Bonus RSUs vest, and may be settled in cash or in Shares, at the discretion of JAB Indulgence.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 11.3pt; text-indent: -9.75pt"><FONT STYLE="font-family: Symbol">&middot;&#9;</FONT>Upon
    (1) Hees ceasing to provide the Consulting Services for any reason prior to the RSU Vesting Date or (2) Hees&rsquo; breach of any of the
    restrictive covenants set forth in the Services Agreement or the applicable award agreement, all of the Sign-On Bonus RSUs will be forfeited
    as of the date of such termination or breach, as applicable, for no consideration.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 11.3pt">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 11.3pt; text-indent: -9.75pt"><FONT STYLE="font-family: Symbol">&middot;&#9;</FONT><I>Qualifying
    Termination</I>. Notwithstanding the foregoing, if prior to the RSU Vesting Date, Hees ceases to provide the Consulting Services due to
    a Qualifying Termination, then a pro-rata portion of the Sign-On Bonus RSUs shall be eligible to fully vest on the date of such termination
    (with such pro-rata portion being determined as a fraction, the numerator of which is equal to the number of days from the Purchase Date
    to the date of such termination, and the denominator of which is equal to 1,825), and any portion of the Sign-On Bonus RSUs that remains
    unvested as of such termination date will be forfeited for no consideration as of such termination date.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 11.3pt">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 11.3pt; text-indent: -9.75pt"><FONT STYLE="font-family: Symbol">&middot;&#9;</FONT><I>Vesting
    on Earlier Change in Control. </I>Notwithstanding the foregoing, if a Change in Control occurs prior to the RSU Vesting Date, then 100%
    of the Sign-On Bonus RSUs will vest on the date of such Change in Control, so long as Hees continues to provide the Consulting Services
    through the date of such Change in Control.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 11.3pt; text-indent: -9.75pt"><FONT STYLE="font-family: Symbol">&middot;&#9;</FONT><I>Vesting
    on Earlier JAB Sell-Down. </I>Notwithstanding the foregoing, if a JAB Sell-Down occurs prior to the RSU Vesting Date and Hees makes a
    JAB Sell-Down Election, then the Applicable Percentage of the Sign-On Bonus RSUs will vest on the date of such JAB Sell-Down, so long
    as Hees continues to provide the Consulting Services through the date of such JAB Sell-Down.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 2.15pt; padding-left: 2.15pt"><FONT STYLE="font-size: 10pt"><B>Additional Definitions</B></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 2.15pt; padding-left: 2.15pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 11.3pt; text-indent: -9.75pt"><FONT STYLE="font-family: Symbol">&middot;&#9;</FONT>&ldquo;<U>Qualifying
    Termination</U>&rdquo; means Hees ceases to provide the Consulting Services due to a termination by JAB Holdings without Cause (as defined
    in the Services Agreement), or due to Hees death or Disability (as defined in the Services Agreement).</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 11.3pt">&nbsp;</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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