Document:

EX-10.23

 Exhibit 10.23 

 
 

 
 Mr. Nicolaas Arnold 
 323 Rees Street 
 Playa Del Rey, CA 90293 
 January 17, 2013 
  

	 	Re:	Terms of Separation 

 Dear Nico:

 This letter confirms the agreement (“Agreement”) between you and Cepheid (the “Company”) concerning the
terms of your separation and offers you the separation compensation we discussed in exchange for a general release of claims and covenant not to sue. 
 1. Separation Date: January 16, 2013 was your last day of employment with the Company (the “Separation Date”). 

2. Acknowledgment of Payment of Wages: By your signature below, you acknowledge that on January 16, 2013, we provided you a
final paycheck in the amount of $65,082.18 for all wages, salary, bonuses, commissions, reimbursable expenses, accrued vacation and any similar payments due you from the Company as of the Separation Date. By signing below, you acknowledge
that the Company does not owe you any other amounts. 
 3. Separation Compensation: In exchange for your agreement to the
general release and waiver of claims and covenant not to sue set forth in paragraphs 7 and 8 below and your other promises herein, the Company agrees to provide you with the following: 

a. Severance: The Company agrees to pay you, following the Effective Date (as defined in paragraph 17 below) of this Agreement, a
total of $397,400, less applicable state and federal payroll deductions, which equals twelve months of your base salary. The severance will be paid, at your election, in either a lump sum payment within five business days following the
Effective Date, or on a monthly basis in pro rata installments beginning on the Company’s first regular payroll date following the Effective Date. Please indicate your election by checking one of the following boxes: 

 

	 	x	Lump Sum 

  

	 	 ̈	Monthly Payments 

 b.
Eligibility for 2012 Incentive Compensation: You are currently a participant in the Company’s 2012 Incentive Plan (the “2012 Plan”), which provides that participants must be employed in good standing by the Company on the date
the incentive awards are distributed to be eligible to receive an incentive award under the 2012 Plan. Awards, if any, are expected to be distributed in February 2013. Notwithstanding that you would therefore be ineligible to receive an award under
the 2012 Plan, to the extent that you are determined to have earned an award under the 2012 Plan, you will receive your award under the Plan on the distribution date. You acknowledge that any award under the 

 
 

 

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2012 Plan depends on both the achievement by the Company of certain financial performance metrics for revenue and profitability as well as the achievement of certain corporate objectives, and
that no final determination of the awards payable under the 2012 Plan has yet been made by the Company’s Compensation Committee, whose determination shall be final in all respects. 

c. Extension of Option Exercise Period: Pursuant to the Company’s 2006 Equity Incentive Plan and your Stock Option and
Restricted Stock Unit Agreements with the Company (the “Stock Option Agreements” and “RSU Agreements”), you will cease vesting of your Company stock options (“Stock Options”) and restricted stock units
(“RSUs”) as of the Separation Date. Notwithstanding the deadlines set forth in the Stock Option Agreements by which you must exercise vested Stock Options within 90 days of termination of employment, the Company will permit you to exercise
shares of Stock Options vested as of the Separation Date for an additional 90 day period, for a total period of six months following the Separation Date. After the date that is six months following the Separation Date, you will no longer have a
right to exercise the Stock Options as to any shares. Your rights concerning the Stock Options will continue to be governed by the Stock Option Agreements, as modified herein. Pursuant to the RSU Agreements, as of the Separation Date, the unvested
RSUs will be cancelled, and you will not, under any circumstances, be entitled to any vesting of unvested RSUs. 
 d.
COBRA: Upon your timely election to continue your existing health benefits under COBRA, and consistent with the terms of COBRA and the Company’s health insurance plan, the Company will pay the insurance premiums to continue your existing
health benefits for twelve (12) months following the Separation Date. You will remain responsible for, and must continue to pay, the portion of premiums, co-payments, etc. that you would have paid had your employment continued. 

By signing below, you acknowledge that you are receiving the separation compensation outlined in this paragraph in consideration for
waiving your rights to claims referred to in this Agreement and that you would not otherwise be entitled to the separation compensation. 
 4. Return of Company Property: You hereby warrant to the Company that you have returned to the Company all property or data of the Company of any type whatsoever that has been in your possession or
control. 
 5. Confidential Information: You hereby acknowledge that you are bound by the attached Employee Invention
Assignment and Confidentiality Agreement (Exhibit A hereto) and that as a result of your employment with the Company you have had access to the Company’s Proprietary Information (as defined in the agreement), that you will hold all
Proprietary Information in strictest confidence and that you will not make use of such Proprietary Information on behalf of anyone. You further confirm that you have delivered to the Company all documents and data of any nature containing or
pertaining to such Proprietary Information and that you have not taken with you any such documents or data or any reproduction thereof. 

 Page 3 

 
 6. General Release and Waiver of Claims: 

a. The payments and promises set forth in this Agreement are in full satisfaction of all accrued salary, vacation pay, bonus and
commission pay, profit-sharing, stock options, restricted stock units, termination benefits or other compensation to which you may be entitled by virtue of your employment with the Company or your separation from the Company. To the fullest extent
permitted by law, you hereby release and waive any other claims you may have against the Company and its owners, agents, officers, shareholders, employees, directors, attorneys, subscribers, subsidiaries, affiliates, successors and assigns
(collectively “Releasees”), whether known or not known, including, without limitation, claims under any employment laws, including, but not limited to, claims of unlawful discharge, breach of contract, breach of the covenant of good faith
and fair dealing, fraud, violation of public policy, discrimination, defamation, physical injury, emotional distress, claims for additional compensation or benefits arising out of your employment or your separation of employment, claims under Title
VII of the 1964 Civil Rights Act, as amended, the California Fair Employment and Housing Act and any other laws and/or regulations relating to employment or employment discrimination, including, without limitation, claims based on age or under the
Age Discrimination in Employment Act or Older Workers Benefit Protection Act, and/or claims based on disability or under the Americans with Disabilities Act. 
 b. By signing below, you expressly waive any benefits of Section 1542 of the Civil Code of the State of California, which provides as follows: 

“A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR
AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR.” 
 c. You and the Company do not intend to release claims that you may not release as a matter of law, including but not limited to claims for indemnity under California Labor Code section 2802, or any
claims for enforcement of this Agreement. To the fullest extent permitted by law, any dispute regarding the scope of this general release shall be determined by an arbitrator under the procedures set forth in the arbitration clause below.

 7. Covenant Not to Sue: 
 a. To the fullest extent permitted by law, at no time subsequent to the execution of this Agreement will you pursue, or cause or knowingly permit the prosecution of, in any state, federal or foreign
court, or before any local, state, federal or foreign administrative agency, or any other tribunal, any charge, claim or action of any kind, nature and character whatsoever, known or unknown, which you may now have, have ever had, or may in the
future have against Releasees, which is based in whole or in part on any matter covered by this Agreement. 
 b. Nothing in this
section shall prohibit you from filing a charge or complaint with a government agency such as but not limited to the Equal Employment Opportunity Commission, the National Labor Relations Board, the Department of Labor, the California Department of
Fair Employment and Housing, or other applicable state agency. However, you understand and agree that, by entering into this Agreement, you are releasing any and all individual claims for relief, and that any and all subsequent disputes between you
and the Company shall be resolved through arbitration as provided below. 

 Page 4 

 
 c. Nothing in this section shall prohibit or impair you or
the Company from complying with all applicable laws, nor shall this Agreement be construed to obligate either party to commit (or aid or abet in the commission of) any unlawful act. 

8. Nondisparagement: You agree that you will not disparage Releasees or their products, services, agents, representatives,
directors, officers, shareholders, attorneys, employees, vendors, affiliates, successors or assigns, or any person acting by, through, under or in concert with any of them, with any written or oral statement. Nothing in this paragraph shall prohibit
you from providing truthful information in response to a subpoena or other legal process. 
 9. Arbitration: Except for
any claim for injunctive relief arising out of a breach of a party’s obligations to protect the other’s proprietary information, the parties agree to arbitrate, in Santa Clara County, California through JAMS, under JAMS Employment
Arbitration Rules and Procedures any and all disputes or claims arising out of or related to the validity, enforceability, interpretation, performance or breach of this Agreement, whether sounding in tort, contract, statutory violation or otherwise,
or involving the construction or application or any of the terms, provisions, or conditions of this Agreement. Any arbitration may be initiated by a written demand to the other party. The arbitrator’s decision shall be final, binding, and
conclusive. The parties further agree that this Agreement is intended to be strictly construed to provide for arbitration as the sole and exclusive means for resolution of all disputes hereunder to the fullest extent permitted by law. The parties
expressly waive any entitlement to have such controversies decided by a court or a jury. 
 10. Attorneys’ Fees: If
any action is brought to enforce the terms of this Agreement, the prevailing party will be entitled to recover its reasonable attorneys’ fees, costs and expenses from the other party, in addition to any other relief to which the prevailing
party may be entitled. 
 11. Confidentiality: The contents, terms and conditions of this Agreement must be kept
confidential by you and may not be disclosed except to your immediate family, accountant or attorneys or pursuant to subpoena or court order. You agree that if you are asked for information concerning this Agreement, you will state only that you and
the Company reached an amicable resolution of any disputes concerning your separation from the Company. Any breach of this confidentiality provision shall be deemed a material breach of this Agreement. You acknowledge that because you currently are
an executive officer of the Company, in compliance with its obligations under United States securities laws, the Company will be required to make the terms of this agreement public. 

12. No Admission of Liability: This Agreement is not and shall not be construed or contended by you to be an admission or evidence
of any wrongdoing or liability on the part of Releasees, their representatives, heirs, executors, attorneys, agents, partners, officers, shareholders, directors, employees, subsidiaries, affiliates, divisions, successors or assigns. This Agreement
shall be afforded the maximum protection allowable under California Evidence Code Section 1152 and/or any other state or federal provisions of similar effect. 
 13. Complete and Voluntary Agreement: This Agreement, together with the Stock Option Agreements, the RSU Agreements, and Exhibit A hereto, constitutes the entire agreement between you and Releasees
with respect to the subject matter hereof and supersedes all prior negotiations and agreements, whether written or oral, relating to such subject matter. You acknowledge that neither Releasees nor their agents or attorneys have made any promise,
representation or warranty whatsoever, either express or implied, written or oral, which is not contained in this Agreement for the purpose of inducing you to execute the Agreement, and you acknowledge that you have executed this Agreement

 Page 5 

 
 
in reliance only upon such promises, representations and warranties as are contained herein, and that you are executing this Agreement voluntarily, free of any duress or coercion. 

14. Severability: The provisions of this Agreement are severable, and if any part of it is found to be invalid or unenforceable,
the other parts shall remain fully valid and enforceable. Specifically, should a court, arbitrator, or government agency conclude that a particular claim may not be released as a matter of law, it is the intention of the parties that the general
release, the waiver of unknown claims and the covenant not to sue above shall otherwise remain effective to release any and all other claims. 
 15. Modification; Counterparts; Facsimile/PDF Signatures: It is expressly agreed that this Agreement may not be altered, amended, modified, or otherwise changed in any respect except by another
written agreement that specifically refers to this Agreement, executed by authorized representatives of each of the parties to this Agreement. This Agreement may be executed in any number of counterparts, each of which shall constitute an original
and all of which together shall constitute one and the same instrument. Execution of a facsimile or PDF copy shall have the same force and effect as execution of an original. 
 16. Review of Separation Agreement: You understand that you may take up to twenty-one (21) days to consider this Agreement and, by signing below, affirm that you were advised to consult with
an attorney prior to signing this Agreement. You also understand you may revoke this Agreement within seven (7) days of signing this document and that the compensation to be paid to you pursuant to Paragraph 3 will be paid only at the end of
that seven (7) day revocation period. 
 17. Effective Date: This Agreement is effective on the eighth
(8th) day after you sign it and without revocation by you. 
 18. Governing Law; Injunctive Relief: This Agreement
shall be governed by and construed in accordance with the laws of the State of California. Because a breach of your obligations to protect the Company’s proprietary information would cause irreparable injury, in addition to other available
remedies, we agree that such obligations shall be enforceable by injunctive relief and specific performance, without the posting of any bond or other security therefor. 
 [The rest of this page is intentionally left blank.] 

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 If you agree to abide by the terms outlined in this letter,
please sign this letter below and also sign the attached copy and return it to me. I wish you the best in your future endeavors. 
  

			
	Sincerely,
	
	CEPHEID
		
	By:	 	/s/ Michael Fitzgerald
		 	Michael Fitzgerald
		 	Senior Vice President,
		 	Human Resources

  

							
	READ, UNDERSTOOD AND AGREED:	 		 	
				
	/s/ Nicolaas Arnold	 		 	Date:	 	Jan 25, 2013
	Nicolaas Arnold	 		 		 	

 Page 7 

 
 EXHIBIT A 

EMPLOYEE INVENTION ASSIGNMENT AND CONFIDENTIALITY AGREEMENT 

  
 

 
 CEPHEID MULTISTATE EMPLOYEE INVENTION ASSIGNMENT AND 

CONFIDENTIALITY AGREEMENT 
 In consideration of, and as a condition of my employment with Cepheid, a California corporation (the “Company”), I hereby represent to, and agree with the Company as follows:

 1. Purpose of Agreement. I understand that the Company is engaged in a continuous program of
research, development, production and marketing in connection with its business and that it is critical for the Company to preserve and protect its “Proprietary Information” (as defined in Section 7 below),
its rights in “Inventions” (as defined in Section 2 below) and in all related intellectual property rights. Accordingly, I am entering into this Employee Invention Assignment and Confidentiality Agreement (this
“Agreement”) as a condition of my employment with the Company, whether or not I am expected to create inventions of value for the Company. 

2. Disclosure of Inventions. I will promptly disclose in confidence to the Company all inventions,
improvements, designs, original works of authorship, formulas, processes, compositions of matter, computer software programs, databases, mask works, chemical formulations, nucleic acid sequences, assay methods and protocols, manufacturing methods
and protocols, and trade secrets that I make or conceive or first reduce to practice or create, either alone or jointly with others, during the period of my employment, whether or not in the course of my employment, and whether or not patentable,
copyrightable or protectable as trade secrets (the “Inventions”). 
 3. Work for Hire;
Assignment of Inventions. I acknowledge and agree that any copyrightable works prepared by me within the scope of my employment are “works for hire” under the Copyright Act and that the Company will be considered the author and
owner of such copyrightable works. I agree that all Inventions that (i) are developed using equipment, supplies, facilities or trade secrets of the Company, (ii) result from work performed by me for the Company, or (iii) relate to the
Company’s business or current or anticipated research and development (the “Assigned Inventions”), will be the sole and exclusive property of the Company and are hereby irrevocably assigned by me to the Company.
Attached hereto as Exhibit A is a list describing all inventions, original works of authorship, developments and trade secrets which were made by me prior to the date of this Agreement, which belong to me and which are not assigned to the
Company (“Prior Inventions”). I acknowledge and agree that if I use any of my Prior Inventions in the scope of my employment, or include them in any product or service of the Company, I hereby grant to the Company a
perpetual, irrevocable, nonexclusive, world-wide, royalty-free license to use, disclose, make, sell, copy, distribute, modify and create works based on, perform or display such Prior Inventions and to sublicense third parties with the same
rights.] 
 Revised 5/1/08 

 CEPHEID Employee Invention Assignment 

and Confidentiality Agreement 
 Page 2 of 6 
  
  

	 	4.	Employee’s Rights to Inventions. 

 (a) California Employees: I have been notified and understand that the provisions of Sections 3 and 5 of this Agreement do not apply to any Assigned Invention that qualifies fully under the
provisions of Section 2870 of the California Labor Code, which states as follows: 
 ANY PROVISION IN AN EMPLOYMENT
AGREEMENT WHICH PROVIDES THAT AN EMPLOYEE SHALL ASSIGN, OR OFFER TO ASSIGN, ANY OF HIS OR HER RIGHTS IN AN INVENTION TO HIS OR HER EMPLOYER SHALL NOT APPLY TO AN INVENTION THAT THE EMPLOYEE DEVELOPED ENTIRELY ON HIS OR HER OWN TIME WITHOUT USING THE
EMPLOYER’S EQUIPMENT, SUPPLIES, FACILITIES, OR TRADE SECRET INFORMATION EXCEPT FOR THOSE INVENTIONS THAT EITHER: (1) RELATE AT THE TIME OF CONCEPTION OR REDUCTION TO PRACTICE OF THE INVENTION TO THE EMPLOYER’S BUSINESS, OR ACTUAL OR
DEMONSTRABLY ANTICIPATED RESEARCH OR DEVELOPMENT OF THE EMPLOYER; OR (2) RESULT FROM ANY WORK PERFORMED BY THE EMPLOYEE FOR THE EMPLOYER. TO THE EXTENT A PROVISION IN AN EMPLOYMENT AGREEMENT PURPORTS TO REQUIRE AN EMPLOYEE TO ASSIGN AN
INVENTION OTHERWISE EXCLUDED FROM BEING REQUIRED TO BE ASSIGNED UNDER CALIFORNIA LABOR CODE SECTION 2870(a), THE PROVISION IS AGAINST THE PUBLIC POLICY OF THIS STATE AND IS UNENFORCEABLE. 

(b) Certain Employees Outside California:1 I have been notified and understand that the provisions
of Sections 3 and 5 of this Agreement do not apply to any Assigned Invention that qualifies fully under the provisions of the following: 19 Delaware Code §8; Kansas Statute Annotated §44-130; §765 of the Illinois Compiled Statute
1060/2; Minnesota Statute §181.78; North Carolina General Statute §66-57.1; Revised Code of Washington §49.44.140; and Utah Code Annotated §34-39-3; which provide that any provision in an employment agreement requiring the
employee to assign any of the employee’s rights in any invention to the employer does not apply to an invention for which no equipment, supplies, facility, or trade secret information of the employer was used and which was developed entirely on
the employee’s own time, unless the invention relates to the business of the employer or 
  

	1 	This section is applicable to employees in Delaware, Kansas, Illinois, Minnesota, North Carolina, Washington, and Utah. 

 
 Revised 5/1/08 

 CEPHEID Employee Invention Assignment 

and Confidentiality Agreement 
 Page 3 of 6 
  
 
actual or demonstrably anticipated research or development, or the invention results from any work performed by the employee for the employer. 

5. Assignment of Other Rights. In addition to the foregoing assignment of Assigned Inventions to the Company,
I hereby irrevocably transfer and assign to the Company: (i) all worldwide patents, patent applications, copyrights, mask works, trade secrets and other intellectual property rights, including but not limited to rights in databases, in any
Assigned Inventions, along with any registrations of or applications to register such rights; and (ii) any and all “Moral Rights” (as defined below) that I may have in or with respect to any Assigned Inventions. I also hereby forever
waive and agree never to assert any and all Moral Rights I may have in or with respect to any Assigned Inventions, even after termination of my work on behalf of the Company. “Moral Rights” mean any rights to claim authorship
of or credit on an Assigned Inventions, to object to or prevent the modification or destruction of any Assigned Inventions [or Prior Inventions licensed to Company under Section 3], or to withdraw from circulation or control the
publication or distribution of any Assigned Inventions [or Prior Inventions licensed to Company under Section 3], and any similar right, existing under judicial or statutory law of any country or subdivision thereof in the world, or
under any treaty, regardless of whether or not such right is denominated or generally referred to as a “moral right” Notwithstanding the foregoing, I will have the right to claim participation in the development, creation, or
modification of the Assigned Inventions on my resume or in my curriculum vita; provided that I obtain Company’s approval for such disclosures before providing the disclosure to any third-party. 

6. Assistance. I agree to assist the Company in every proper way to obtain for the Company and enforce
patents, copyrights, mask work rights, trade secret rights and other legal protections for the Company’s Assigned Inventions in any and all countries. I will execute any documents that the Company may reasonably request for use in obtaining or
enforcing such patents, copyrights, mask work rights, trade secrets and other legal protections. My obligations under this paragraph will continue beyond the termination of my employment with the Company, provided that the Company will compensate me
at a reasonable rate after such termination for time or expenses actually spent by me at the Company’s request on such assistance. I appoint the Secretary of the Company as my attorney-in-fact to execute documents on my behalf for this purpose.

 7. Proprietary Information. I understand that my employment by the Company creates a relationship of
confidence and trust with respect to any information of a confidential or secret nature that may be disclosed to me by the Company or a third party that relates to the business of the Company or to the business of any parent, subsidiary, affiliate,
customer or supplier of the Company or any other party with whom the Company agrees to hold information of such party in confidence (the “Proprietary Information”). Such Proprietary Information includes, but is not limited
to, Assigned Inventions, marketing plans, product plans, business strategies, financial information, forecasts, personnel information, customer lists and data, and domain names. 

 
 Revised 5/1/08 

 CEPHEID Employee Invention Assignment 

and Confidentiality Agreement 
 Page 4 of 6 
  
 8. Confidentiality. At all times, both during my employment and after its termination, I will keep and hold all such Proprietary Information in strict confidence and trust. I will not use or
disclose any Proprietary Information without the prior written consent of the Company, except as may be necessary to perform my duties as an employee of the Company for the benefit of the Company. Upon termination of my employment with the Company,
I will promptly deliver to the Company all documents and materials of any nature pertaining to my work with the Company and, upon Company request, will execute a document confirming my agreement to honor my responsibilities contained in this
Agreement. I will not take with me or retain any documents or materials or copies thereof containing any Proprietary Information. 
 9. No Breach of Prior Agreement. I represent that my performance of all the terms of this Agreement and my duties as an employee of the Company will not breach any invention assignment,
proprietary information, confidentiality or similar agreement with any former employer or other party. I represent that I will not bring with me to the Company or use in the performance of my duties for the Company any documents or materials or
intangibles of a former employer or third party that are not generally available to the public or have not been legally transferred to the Company. 
 10. Efforts; Duty Not to Compete. I understand that my employment with the Company requires my undivided attention and effort during normal business hours. While I am employed by the
Company, I will not, without the Company’s express prior written consent, provide services to, or assist in any manner, any business or third party if such services or assistance would be in direct conflict with the Company’s business
interests. 
 11. Notification. I hereby authorize the Company to notify third parties, including, without
limitation, customers and actual or potential employers, of the terms of this Agreement and my responsibilities hereunder. 

12. Non-Solicitation of Employees/Consultants. During my employment with the Company and for a period of one
(1) year thereafter, I will not directly or indirectly solicit away employees or consultants of the Company for my own benefit or for the benefit of any other person or entity. 

13. Non-Solicitation of Suppliers/Customers. During my employment with the Company and after termination of my employment,
I will not directly or indirectly solicit or take away suppliers or customers of the Company if, in so doing, I use or disclose any trade secrets or proprietary or confidential information of the Company. I agree that the non-public names and
addresses of the Company’s customers, and all other confidential information related to them, including their buying and selling habits, special needs and satisfaction, created or obtained by me during my employment, constitute trade secrets or
proprietary or confidential information of the Company. 
  
 Revised
5/1/08 

 CEPHEID Employee Invention Assignment 

and Confidentiality Agreement 
 Page 5 of 6 
  
 14. Injunctive Relief. I understand that in the event of a breach or threatened breach of this Agreement by me the Company may suffer irreparable harm and will therefore be entitled to
injunctive relief to enforce this Agreement. 
 15. Severability. Except as specifically provided herein, this
Agreement will be governed by and construed in accordance with the laws of the State of California, without giving effect to its laws pertaining to conflict of laws. If any provision of this Agreement is determined by any court or arbitrator of
competent jurisdiction to be invalid, illegal or unenforceable in any respect, such provision will be enforced to the maximum extent possible given the intent of the parties hereto. If such clause or provision cannot be so enforced, such provision
shall be stricken from this Agreement and the remainder of this Agreement shall be enforced as if such invalid, illegal or unenforceable clause or provision had (to the extent not enforceable) never been contained in this Agreement. 

16. Counterparts. This Agreement may be executed in any number of counterparts, each of which when so executed and
delivered will be deemed an original, and all of which together shall constitute one and the same agreement. 
 17. Entire
Agreement. This Agreement and the documents referred to herein constitute the entire agreement and understanding of the parties with respect to the subject matter of this Agreement, and supersede all prior understandings and agreements,
whether oral or written, between or among the parties hereto with respect to the specific subject matter hereof. 
 18.
Amendment and Waivers. This Agreement may be amended only by a written agreement executed by each of the parties hereto. No amendment of or waiver of, or modification of any obligation under this Agreement will be enforceable unless set
forth in a writing signed by the party against which enforcement is sought. Any amendment effected in accordance with this section will be binding upon all parties hereto and each of their respective successors and assigns. No delay or failure to
require performance of any provision of this Agreement shall constitute a waiver of that provision as to that or any other instance. No waiver granted under this Agreement as to any one provision herein shall constitute a subsequent waiver of such
provision or of any other provision herein, nor shall it constitute the waiver of any performance other than the actual performance specifically waived. 
 19. Successors and Assigns; Assignment. Except as otherwise provided in this Agreement, this Agreement, and the rights and obligations of the parties hereunder, will be binding upon and
inure to the benefit of their respective successors, assigns, heirs, executors, administrators and legal representatives. The Company may assign any of its rights and obligations under this Agreement. No other party to this Agreement may assign,
whether voluntarily or by operation of law, any of its rights and obligations under this Agreement, except with the prior written consent of the Company. 
  

Revised 5/1/08 

 CEPHEID Employee Invention Assignment 

and Confidentiality Agreement 
 Page 6 of 6 
  
 20. Further Assurances. The parties agree to execute such further documents and instruments and to take such further actions as may be reasonably necessary to carry out the purposes and
intent of this Agreement. 
 21. “At Will” Employment. I understand that this Agreement does not
constitute a contract of employment or obligate the Company to employ me for any stated period of time. I understand that I am an “at will” employee of the Company and that my employment can be terminated at any time, with or without
notice and with or without cause, for any reason or for no reason, by either the Company or myself. I acknowledge that any statements or representations to the contrary are ineffective, unless put into a writing signed by the Company. I further
acknowledge that my participation in any stock option or benefit program is not to be construed as any assurance of continuing employment for any particular period of time. This Agreement shall be effective as of the first day of my employment by
the Company, which is October 14, 09. 
  

							
	CEPHEID:	 		 	Employee:
				
	By:	 	 /s/ Kristina Fantone
	 		 	/s/ Nico Arnold
	Name:	 	 Kristina Fantone
	 		 	Signature
		 		 		 	Nico Arnold
	Title:	 	 HR Coordinator
	 		 	Name (Please Print)

  
 Revised 5/1/08Exhibit 4.26

 Exhibit 4.26 
 EXECUTION VERSION 
 FREDDIE MAC 

AMENDED AND RESTATED CERTIFICATE OF CREATION, 
 DESIGNATION, POWERS, PREFERENCES, RIGHTS, 
 PRIVILEGES, QUALIFICATIONS,
LIMITATIONS, 
 RESTRICTIONS, TERMS AND CONDITIONS OF 

VARIABLE LIQUIDATION PREFERENCE SENIOR PREFERRED STOCK 
 (PAR VALUE $1.00 PER SHARE) 
 The Federal Housing Finance Agency, as
Conservator of the Federal Home Loan Mortgage Corporation, a government-sponsored enterprise of the United States of America (the “Company”), does hereby certify that, pursuant to authority vested in the Board of Directors of the Company
by Section 306(f) of the Federal Home Loan Mortgage Corporation Act, and pursuant to the authority vested in the Conservator of the Company by Section 1367(b) of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992
(12 U.S.C. §4617), as amended, the Conservator adopted Resolution FHLMC 2008-24 on September 7, 2008, which resolution is now, and at all times since such date has been, in full force and effect, and that the Conservator approved
the final terms of the issuance and sale of the preferred stock of the Company designated above. 
 As amended and restated in
accordance with the Third Amendment dated as of August 17, 2012, to the Amended and Restated Senior Preferred Stock Purchase Agreement dated as of September 26, 2008, the Senior Preferred Stock shall have the following designation, powers,
preferences, rights, privileges, qualifications, limitations, restrictions, terms and conditions: 
 1.    Designation,
Par Value, Number of Shares and Seniority 
 The class of preferred stock of the Company created hereby (the
“Senior Preferred Stock”) shall be designated “Variable Liquidation Preference Senior Preferred Stock,” shall have a par value of $1.00 per share and shall consist of 1,000,000 shares. The Senior Preferred Stock shall rank
prior to the common stock of the Company as provided in this Certificate and shall rank, as to both dividends and distributions upon liquidation, prior to (a) the Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock issued on
December 4, 2007, (b) the 6.55% Non-Cumulative Preferred Stock issued on September 28, 2007, (c) the 6.02% Non-Cumulative Preferred Stock issued on July 24, 2007, (d) the 5.66% Non-Cumulative Preferred Stock issued on
April 16, 2007, (e) the 5.57% Non-Cumulative Preferred Stock issued on January 16, 2007, (f) the 5.9% Non-Cumulative Preferred Stock issued on October 16, 2006, (g) the 6.42% Non-Cumulative Preferred Stock issued on
July 17, 2006, (h) the Variable Rate, Non-Cumulative Preferred Stock issued on July 17, 2006, (i) the 5.81% Non-Cumulative Preferred Stock issued on January 29, 2002, (j) the 5.7% Non-Cumulative Preferred Stock issued
on October 30, 2001, (k) the 6% Non-Cumulative Preferred Stock issued on May 30, 2001, (l) the Variable Rate, Non-Cumulative Preferred Stock issued on May 30, 2001 and June 1, 2001, (m) the 5.81% Non-Cumulative
Preferred Stock issued on March 23, 2001, (n) the Variable Rate, Non-Cumulative Preferred Stock issued on March 23, 2001, (o) the Variable Rate, Non-Cumulative Preferred Stock issued on January 26, 2001, (p) the
Variable Rate, Non-Cumulative Preferred Stock issued on November 5, 1999, (q) the 5.79% Non-Cumulative Preferred Stock issued on July 21, 1999, (r) the 5.1% Non-Cumulative Preferred Stock issued on March 19, 1999,
(s) the 5.3% Non-Cumulative Preferred Stock issued on October 28, 1998, (t) the 

 5.1%  Non-Cumulative Preferred Stock issued on September 23, 1998, (u) the Variable
Rate, Non-Cumulative Preferred Stock issued on September 23, 1998 and September 29, 1998, (v) the 5% Non-Cumulative Preferred Stock issued on March 23, 1998, (w) the 5.81% Non-Cumulative Preferred Stock issued on
October 27, 1997, (x) the Variable Rate, Non-Cumulative Preferred Stock issued on April 26, 1996, (y) any other capital stock of the Company outstanding on the date of the initial issuance of the Senior Preferred Stock, and
(z) any capital stock of the Company that may be issued after the date of initial issuance of the Senior Preferred Stock. 

2.    Dividends 
 (a)  For each Dividend Period from the date of the initial issuance of the Senior Preferred Stock through and including December 31, 2012, holders of outstanding shares of Senior Preferred
Stock shall be entitled to receive, ratably, when, as and if declared by the Board of Directors, in its sole discretion, out of funds legally available therefor, cumulative cash dividends at the annual rate per share equal to the then-current
Dividend Rate on the then-current Liquidation Preference. For each Dividend Period from January 1, 2013, holders of outstanding shares of Senior Preferred Stock shall be entitled to receive, ratably, when, as and if declared by the Board of
Directors, in its sole discretion, out of funds legally available therefor, cumulative cash dividends in an amount equal to the then-current Dividend Amount. Dividends on the Senior Preferred Stock shall accrue from but not including the date of the
initial issuance of the Senior Preferred Stock and will be payable in arrears when, as and if declared by the Board of Directors quarterly on March 31, June 30, September 30 and December 31 of each year (each, a “Dividend Payment
Date”), commencing on December 31, 2008. If a Dividend Payment Date is not a “Business Day,” the related dividend will be paid not later than the next Business Day with the same force and effect as though paid on the Dividend
Payment Date, without any increase to account for the period from such Dividend Payment Date through the date of actual payment. “Business Day” means a day other than (i) a Saturday or Sunday, (ii) a day on which New York City
banks are closed, or (iii) a day on which the offices of the Company are closed. 
 If declared, the initial dividend will
be for the period from but not including the date of the initial issuance of the Senior Preferred Stock through and including December 31, 2008. Except for the initial Dividend Payment Date, the “Dividend Period” relating to a
Dividend Payment Date will be the period from but not including the preceding Dividend Payment Date through and including the related Dividend Payment Date. For each Dividend Period from the date of the initial issuance of the Senior Preferred Stock
through and including December 31, 2012, the amount of dividends payable on the initial Dividend Payment Date or for any Dividend Period through and including December 31, 2012, that is not a full calendar quarter shall be computed on the
basis of 30-day months, a 360-day year and the actual number of days elapsed in any period of less than one month. For the avoidance of doubt, for each Dividend Period from the date of the initial issuance of the Senior Preferred Stock through and
including December 31, 2012, in the event that the Liquidation Preference changes in the middle of a Dividend Period, the amount of dividends payable on the Dividend Payment Date at the end of such Dividend Period shall take into account such
change in Liquidation Preference and shall be computed at the Dividend Rate on each Liquidation Preference based on the portion of the Dividend Period that each Liquidation Preference was in effect. 

(b)  To the extent not paid pursuant to Section 2(a) above, dividends on the Senior 

  
 2 

 
Preferred Stock shall accrue and shall be added to the Liquidation Preference pursuant to Section 8, whether or not there are funds legally available for the payment of such dividends and
whether or not dividends are declared. 
 (c)  For each Dividend Period from the date of the initial issuance of the
Senior Preferred Stock through and including December 31, 2012, “Dividend Rate” means 10.0%; provided, however, that if at any time the Company shall have for any reason failed to pay dividends in cash in a timely manner as required
by this Certificate, then immediately following such failure and for all Dividend Periods thereafter until the Dividend Period following the date on which the Company shall have paid in cash full cumulative dividends (including any unpaid dividends
added to the Liquidation Preference pursuant to Section 8), the “Dividend Rate” shall mean 12.0%. 
 For each
Dividend Period from January 1, 2013, through and including December 31, 2017, the “Dividend Amount” for a Dividend Period means the amount, if any, by which the Net Worth Amount at the end of the immediately preceding fiscal
quarter, less the Applicable Capital Reserve Amount, exceeds zero. For each Dividend Period from January 1, 2018, the “Dividend Amount” for a Dividend Period means the amount, if any, by which the Net Worth Amount at the end of the
immediately preceding fiscal quarter exceeds zero. In each case, “Net Worth Amount” means (i) the total assets of the Company (such assets excluding the Commitment and any unfunded amounts thereof) as reflected on the balance sheet of
the Company as of the applicable date set forth in this Certificate, prepared in accordance with GAAP, less (ii) the total liabilities of the Company (such liabilities excluding any obligation in respect of any capital stock of the Company,
including this Certificate), as reflected on the balance sheet of the Company as of the applicable date set forth in this Certificate, prepared in accordance with GAAP. “Applicable Capital Reserve Amount” means, as of any date of
determination, for each Dividend Period from January 1, 2013, through and including December 31, 2013, $3,000,000,000; and for each Dividend Period occurring within each 12-month period thereafter, $3,000,000,000 reduced by an equal amount
for each such 12-month period through and including December 31, 2017, so that for each Dividend Period from January 1, 2018, the Applicable Capital Reserve Amount shall be zero. For the avoidance of doubt, if the calculation of the
Dividend Amount for a Dividend Period does not exceed zero, then no Dividend Amount shall accrue or be payable for such Dividend Period. 
 (d)  Each such dividend shall be paid to the holders of record of outstanding shares of the Senior Preferred Stock as they appear in the books and records of the Company on such record date as
shall be fixed in advance by the Board of Directors, not to be earlier than 45 days nor later than 10 days preceding the applicable Dividend Payment Date. The Company may not, at any time, declare or pay dividends on, make distributions
with respect to, or redeem, purchase or acquire, or make a liquidation payment with respect to, any common stock or other securities ranking junior to the Senior Preferred Stock unless (i) full cumulative dividends on the outstanding Senior
Preferred Stock in respect of the then-current Dividend Period and all past Dividend Periods (including any unpaid dividends added to the Liquidation Preference pursuant to Section 8) have been declared and paid in cash (including through any
pay down of Liquidation Preference pursuant to Section 3) and (ii) all amounts required to be paid pursuant to Section 4 (without giving effect to any prohibition on such payment under any applicable 

  
 3 

 law) have been paid in cash. 
 (e)  Notwithstanding any other provision of this Certificate, the Board of Directors, in its discretion, may choose to pay dividends on the Senior Preferred Stock without the payment of any
dividends on the common stock, preferred stock or any other class or series of stock from time to time outstanding ranking junior to the Senior Preferred Stock with respect to the payment of dividends. 

(f)  If and whenever dividends, having been declared, shall not have been paid in full, as aforesaid, on shares of the Senior
Preferred Stock, all such dividends that have been declared on shares of the Senior Preferred Stock shall be paid to the holders pro rata based on the aggregate Liquidation Preference of the shares of Senior Preferred Stock held by each holder, and
any amounts due but not paid in cash shall be added to the Liquidation Preference pursuant to Section 8. 

3.    Optional Pay Down of Liquidation Preference 
 (a)  Following termination of the Commitment (as defined in the Preferred Stock Purchase Agreement referred to in Section 8 below), and subject to any limitations which may be imposed by
law and the provisions below, the Company may pay down the Liquidation Preference of all outstanding shares of the Senior Preferred Stock pro rata, at any time, in whole or in part, out of funds legally available therefor, with such payment first
being used to reduce any accrued and unpaid dividends previously added to the Liquidation Preference pursuant to Section 8 below and, to the extent all such accrued and unpaid dividends have been paid, next being used to reduce any Periodic
Commitment Fees (as defined in the Preferred Stock Purchase Agreement referred to in Section 8 below) previously added to the Liquidation Preference pursuant to Section 8 below. Prior to termination of the Commitment, and subject to any
limitations which may be imposed by law and the provisions below, the Company may pay down the Liquidation Preference of all outstanding shares of the Senior Preferred Stock pro rata, at any time, out of funds legally available therefor, but only to
the extent of (i) accrued and unpaid dividends previously added to the Liquidation Preference pursuant to Section 8 below and not repaid by any prior pay down of Liquidation Preference and (ii) Periodic Commitment Fees previously
added to the Liquidation 
 Preference pursuant to Section 8 below and not repaid by any prior pay down of Liquidation Preference. Any pay
down of Liquidation Preference permitted by this Section 3 shall be paid by making a payment in cash to the holders of record of outstanding shares of the Senior Preferred Stock as they appear in the books and records of the Company on such
record date as shall be fixed in advance by the Board of Directors, not to be earlier than 45 days nor later than 10 days preceding the date fixed for the payment. 
 (b)  In the event the Company shall pay down of the Liquidation Preference of the Senior Preferred Stock as aforesaid, notice of such pay down shall be given by the Company by first class mail,
postage prepaid, mailed neither less than 10 nor more than 45 days preceding the date fixed for the payment, to each holder of record of the shares of the Senior Preferred Stock, at such holder’s address as the same appears in the books
and records of the Company. Each such notice shall state the amount by which the Liquidation Preference of each share shall be reduced and the pay down date. 

  
 4 

 (c)  If after termination of the Commitment the Company pays down the Liquidation
Preference of each outstanding share of Senior Preferred Stock in full, such shares shall be deemed to have been redeemed as of the date of such payment, and the dividend that would otherwise be payable for the Dividend Period ending on the pay down
date will be paid on such date. Following such deemed redemption, the shares of the Senior Preferred Stock shall no longer be deemed to be outstanding, and all rights of the holders thereof as holders of the Senior Preferred Stock shall cease, with
respect to shares so redeemed, other than the right to receive the pay down amount (which shall include the final dividend for such shares). Any shares of the Senior Preferred Stock which shall have been so redeemed, after such redemption, shall no
longer have the status of authorized, issued or outstanding shares. 
 4.    Mandatory Pay Down of Liquidation Preference
Upon Issuance of Capital Stock 
 (a)  If the Company shall issue any shares of capital stock (including without
limitation common stock or any series of preferred stock) in exchange for cash at any time while the Senior Preferred Stock is outstanding, then the Company shall, within 10 Business Days, use the proceeds of such issuance net of the direct costs
relating to the issuance of such securities (including, without limitation, legal, accounting and investment banking fees) to pay down the Liquidation Preference of all outstanding shares of Senior Preferred Stock pro rata, out of funds legally
available therefor, by making a payment in cash to the holders of record of outstanding shares of the Senior Preferred Stock as they appear in the books and records of the Company on such record date as shall be fixed in advance by the Board of
Directors, not to be earlier than 45 days nor later than 10 days preceding the date fixed for the payment, with such payment first being used to reduce any accrued and unpaid dividends previously added to the Liquidation Preference
pursuant to Section 8 below and, to the extent all such accrued and unpaid dividends have been paid, next being used to reduce any Periodic Commitment Fees (as defined in the Preferred Stock Purchase Agreement referred to in Section 8
below) previously added to the Liquidation Preference pursuant to Section 8 below; provided that, prior to the termination of the Commitment (as defined in the Preferred Stock Purchase Agreement referred to in Section 8 below), the
Liquidation Preference of each share of Senior Preferred Stock shall not be paid down below $1,000 per share. 
 (b) If the
Company shall not have sufficient assets legally available for the pay down of the Liquidation Preference of the shares of Senior Preferred Stock required under Section 4(a), the Company shall pay down the Liquidation Preference per share to
the extent permitted by law, and shall pay down any Liquidation Preference not so paid down because of the unavailability of legally available assets or other prohibition as soon as practicable to the extent it is thereafter able to make such pay
down legally. The inability of the Company to make such payment for any reason shall not relieve the Company from its obligation to effect any required pay down of the Liquidation Preference when, as and if permitted by law. 

(c)  If after the termination of the Commitment the Company pays down the Liquidation Preference of each outstanding share of
Senior Preferred Stock in full, such shares shall be deemed to have been redeemed as of the date of such payment, and the dividend that would otherwise be payable for the Dividend Period ending on the pay down date will be paid 

  
 5 

 on such date. Following such deemed redemption, the shares of the Senior Preferred Stock shall no longer be
deemed to be outstanding, and all rights of the holders thereof as holders of the Senior Preferred Stock shall cease, with respect to shares so redeemed, other than the right to receive the pay down amount (which shall include the final dividend for
such redeemed shares). Any shares of the Senior Preferred Stock which shall have been so redeemed, after such redemption, shall no longer have the status of authorized, issued or outstanding shares. 

5.    No Voting Rights 
 Except as set forth in this Certificate or otherwise required by law, the shares of the Senior Preferred Stock shall not have any voting powers, either general or special. 

6.    No Conversion or Exchange Rights 
 The holders of shares of the Senior Preferred Stock shall not have any right to convert such shares into or exchange such shares for any other class or series of stock or obligations of the Company.

 7.    No Preemptive Rights 
 No holder of the Senior Preferred Stock shall as such holder have any preemptive right to purchase or subscribe for any other shares, rights, options or other securities of any class of the Company which
at any time may be sold or offered for sale by the Company. 
 8.    Liquidation Rights and Preference 

(a)  Except as otherwise set forth herein, upon the voluntary or involuntary dissolution, liquidation or winding up of the
Company, the holders of the outstanding shares of the Senior Preferred Stock shall be entitled to receive out of the assets of the Company available for distribution to stockholders, before any payment or distribution shall be made on the common
stock or any other class or series of stock of the Company ranking junior to the Senior Preferred Stock upon liquidation, the amount per share equal to the Liquidation Preference plus an amount, determined in accordance with Section 2(a) above,
equal to the dividend otherwise payable for the then-current Dividend Period accrued through and including the date of payment in respect of such dissolution, liquidation or winding up; provided, however, that if the assets of the Company

 available for distribution to stockholders shall be insufficient for the payment of the amount which the holders of the outstanding shares of
the Senior Preferred Stock shall be entitled to receive upon such dissolution, liquidation or winding up of the Company as aforesaid, then, all of the assets of the Company available for distribution to stockholders shall be distributed to the
holders of outstanding shares of the Senior Preferred Stock pro rata based on the aggregate Liquidation Preference of the shares of Senior Preferred Stock held by each holder. 
 (b)  “Liquidation Preference” shall initially mean $1,000 per share and shall be: 
 (i)  increased each time a Deficiency Amount (as defined in the Preferred Stock Purchase Agreement) is paid to the Company by an amount per share equal to the aggregate amount so paid to the
Company divided by the number of shares of 

  
 6 

 Senior Preferred Stock outstanding at the time of such payment; 

(ii)  increased each time the Company does not pay the full Periodic Commitment Fee (as defined in the Preferred
Stock Purchase Agreement) in cash by an amount per share equal to the amount of the Periodic Commitment Fee that is not paid in cash divided by the number of shares of Senior Preferred Stock outstanding at the time such payment is due; 

(iii)  increased on the Dividend Payment Date if the Company fails to pay in full the dividend payable for the
Dividend Period ending on such date by an amount per share equal to the aggregate amount of unpaid dividends divided by the number of shares of Senior Preferred Stock outstanding on such date; and 

(iv)  decreased each time the Company pays down the Liquidation Preference pursuant to Section 3 or
Section 4 of this Certificate by an amount per share equal to the aggregate amount of the pay down divided by the number of shares of Senior Preferred Stock outstanding at the time of such pay down. 

(c)  “Preferred Stock Purchase Agreement” means the Preferred Stock Purchase Agreement, dated September 7, 2008,
between the Company and the United States Department of the Treasury. 
 (d)  Neither the sale of all or substantially
all of the property or business of the Company, nor the merger, consolidation or combination of the Company into or with any other corporation or entity, shall be deemed to be a dissolution, liquidation or winding up for the purpose of this
Section 8. 
 9.    Additional Classes or Series of Stock 

The Board of Directors shall have the right at anytime in the future to authorize, create and issue, by resolution or resolutions, one or
more additional classes or series of stock of the Company, and to determine and fix the distinguishing characteristics and the relative rights, preferences, privileges and other terms of the shares thereof; provided that, any such class or series of
stock may not rank prior to or on parity with the Senior Preferred Stock without the prior written consent of the holders of at least two-thirds of all the shares of Senior Preferred Stock at the time outstanding. 

10.    Miscellaneous 
 (a)  The Company and any agent of the Company may deem and treat the holder of a share or shares of Senior Preferred Stock, as shown in the Company’s books and records, as the absolute
owner of such share or shares of Senior Preferred Stock for the purpose of receiving payment of dividends in respect of such share or shares of Senior Preferred Stock and for all other purposes whatsoever, and neither the Company nor any agent of
the Company shall be affected by any notice to the contrary. All payments made to or upon the order of any such person shall be valid and, to the extent of the sum or sums so paid, effectual to satisfy and discharge liabilities for moneys payable by
the Company on or with respect to any such share or shares of Senior Preferred Stock. 

  
 7 

 (b)  The shares of the Senior Preferred Stock, when duly issued, shall be fully
paid and non-assessable. 
 (c)  The Senior Preferred Stock may be issued, and shall be transferable on the books of
the Company, only in whole shares. 
 (d)  For purposes of this Certificate, the term “the Company” means the
Federal Home Loan Mortgage Corporation and any successor thereto by operation of law or by reason of a merger, consolidation, combination or similar transaction. 
 (e)  This Certificate and the respective rights and obligations of the Company and the holders of the Senior Preferred Stock with respect to such Senior Preferred Stock shall be construed in
accordance with and governed by the laws of the United States, provided that the law of the Commonwealth of Virginia shall serve as the federal rule of decision in all instances except where such law is inconsistent with the Company’s enabling
legislation, its public purposes or any provision of this Certificate. 
 (f)  Any notice, demand or other
communication which by any provision of this Certificate is required or permitted to be given or served to or upon the Company shall be given or served in writing addressed (unless and until another address shall be published by the Company) to
Freddie Mac, 8200 Jones Branch Drive, McLean, Virginia 22102, Attn: Executive Vice President and General Counsel. Such notice, demand or other communication to or upon the Company shall be deemed to have been sufficiently given or made only upon
actual receipt of a writing by the Company. Any notice, demand or other communication which by any provision of this Certificate is required or permitted to be given or served by the Company hereunder may be given or served by being deposited first
class, postage prepaid, in the United States mail addressed (i) to the holder as such holder’s name and address may appear at such time in the books and records of the Company or (ii) if to a person or entity other than a holder of
record of the Senior Preferred Stock, to such person or entity at such address as reasonably appears to the Company to be appropriate at such time. Such notice, demand or other communication shall be deemed to have been sufficiently given or made,
for all purposes, upon mailing. 
 (g)  The Company, by or under the authority of the Board of Directors, may amend,
alter, supplement or repeal any provision of this Certificate pursuant to the following terms and conditions: 

(i)  Without the consent of the holders of the Senior Preferred Stock, the Company may amend, alter, supplement
or repeal any provision of this Certificate to cure any ambiguity, to correct or supplement any provision herein which may be defective or inconsistent with any other provision herein, or to make any other provisions with respect to matters or
questions arising under this Certificate, provided that such action shall not adversely affect the interests of the holders of the Senior Preferred Stock. 
 (ii)  The consent of the holders of at least two-thirds of all of the shares of the Senior Preferred Stock at the time outstanding, given in person or by proxy, either in writing or by a vote at
a meeting called for the purpose at which the holders of shares of the Senior Preferred Stock shall vote together as a class, shall be necessary for 

  
 8 

 authorizing, effecting or validating the amendment, alteration, supplementation or repeal
(whether by merger, consolidation or otherwise) of the provisions of this Certificate other than as set forth in subparagraph (i) of this paragraph (g). The creation and issuance of any other class or series of stock, or the issuance of
additional shares of any existing class or series of stock, of the Company ranking junior to the Senior Preferred Stock shall not be deemed to constitute such an amendment, alteration, supplementation or repeal. 

(iii)  Holders of the Senior Preferred Stock shall be entitled to one vote per share on matters on which their
consent is required pursuant to subparagraph (ii) of this paragraph (g). In connection with any meeting of such holders, the Board of Directors shall fix a record date, neither earlier than 60 days nor later than 10 days prior to the
date of such meeting, and holders of record of shares of the Senior Preferred Stock on such record date shall be entitled to notice of and to vote at any such meeting and any adjournment. The Board of Directors, or such person or persons as it may
designate, may establish reasonable rules and procedures as to the solicitation of the consent of holders of the Senior Preferred Stock at any such meeting or otherwise, which rules and procedures shall conform to the requirements of any national
securities exchange on which the Senior Preferred Stock may be listed at such time. 
 (h)  RECEIPT AND
ACCEPTANCE OF A SHARE OR SHARES OF THE SENIOR PREFERRED STOCK BY OR ON BEHALF OF A HOLDER SHALL CONSTITUTE THE UNCONDITIONAL ACCEPTANCE BY THE HOLDER (AND ALL OTHERS HAVING BENEFICIAL OWNERSHIP OF SUCH SHARE OR SHARES) OF ALL OF THE TERMS AND
PROVISIONS OF THIS CERTIFICATE. NO SIGNATURE OR OTHER FURTHER MANIFESTATION OF ASSENT TO THE TERMS AND PROVISIONS OF THIS CERTIFICATE SHALL BE NECESSARY FOR ITS OPERATION OR EFFECT AS BETWEEN THE COMPANY AND THE HOLDER (AND ALL SUCH OTHERS).

 IN WITNESS WHEREOF, I have hereunto set my hand and the seal of the Company this 27th day of September, 2012. 

[Seal] 
  

			
	FEDERAL HOME LOAN MORTGAGE CORPORATION,
	by
	The Federal Housing Finance Agency, its Conservator
		
	By:	 	/s/ Edward J DeMarco
		 	Edward J DeMarco
		 	Acting Director

  
 Signature Page to September
2012 Amended and Restated Certificate of Designation of Senior Preferred Stock 

  

					
		 	9

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