Document:

EX-4.2

 Exhibit 4.2 
  

 
  

DXC TECHNOLOGY COMPANY 

(F.K.A. EVERETT SPINCO, INC.) 

and 
 U.S. BANK NATIONAL
ASSOCIATION, 
 as Trustee 

THIRD SUPPLEMENTAL INDENTURE 

Dated as of August 9, 2017 
  

 
  

 
  

 Third Supplemental Indenture dated as of August 9, 2017 between DXC TECHNOLOGY COMPANY, a
Nevada corporation (f.k.a. Everett SpinCo, Inc.) (the “Company”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association, as trustee (the “Trustee”). 

Reconciliation and tie between Trust Indenture Act of 1939 (the “Trust Indenture Act”) and the Indenture. 

 

			
	§ 310(a)	  	5.10
	(b)	  	5.09
	§ 311(a)	  	5.14
	(b)	  	5.14
	§ 312(a)	  	2.08
	(b)	  	10.04
	(c)	  	10.04
	§ 313(a)	  	5.04
	(b)	  	5.04
	(c)	  	5.04
	(d)	  	5.04
	§ 314(a)	  	3.02
	(b)	  	Not Applicable
	(c)	  	10.05
	(d)	  	Not Applicable
	(e)	  	10.05
	(f)	  	Not Applicable
	§ 315(a)	  	5.01
	(b)	  	4.12
	(c)	  	5.01
	(d)	  	5.05
	(e)	  	10.04
	§ 316(a)	  	7.02,7.07
	(b)	  	7.02
	(c)	  	6.02
	§ 317(a)	  	4.03
	(b)	  	5.03
	§ 318(a)	  	7.07

 Note: This reconciliation and tie shall not, for any purpose, be deemed to be part of the Indenture. 

 RECITALS 

WHEREAS, the Company and the Trustee executed and delivered an Indenture, dated as of March 27, 2017 (the “Base
Indenture”), to provide for the issuance by the Company from time to time of debentures, notes or other debt instruments evidencing its indebtedness. The Base Indenture, as supplemented and amended by this Third Supplemental Indenture,
including the provisions of the Trust Indenture Act that are automatically deemed to be a part of this Indenture by operation of the Trust Indenture Act, and as it may be further amended or supplemented from time to time with respect to the Notes,
is herein referred to as the “Indenture.” 
 WHEREAS, the Company has authorized the issuance of new Notes in
the following series, each registered under the Securities Act of 1933, as amended (the “Securities Act”): (i) 2.875% Senior Notes due 2020 (the “2020 Notes”), (ii) 4.250% Senior Notes due 2024 (the
“2024 Notes”) and (iii) 4.750% Senior Notes due 2027 (the “2027 Notes”); 
 WHEREAS, the
Company desires to enter into this Third Supplemental Indenture to establish the form and terms of the Notes in accordance with Section 2.03 of the Base Indenture. 

WHEREAS, all things necessary to make this Third Supplemental Indenture a valid and legally binding agreement according to its terms have been
done. 
 WHEREAS, the Indenture is subject to, and will be governed by, the provisions of the Trust Indenture Act that are required to be a
part of and govern indentures qualified under the Trust Indenture Act. 
 NOW, THEREFORE, for and in consideration of the foregoing
premises, the Company and the Trustee mutually covenant and agree for the equal and proportionate benefit of the respective Holders from time to time of the Notes as follows: 

ARTICLE 1 
 Section 1.01.
Terms of the Notes. The following terms relate to the Notes: 
 (a) The 2020 Notes shall constitute a separate series of Securities
under the Base Indenture having the title “2.875% Senior Notes due 2020,” the 2024 Notes shall constitute a separate series of Securities under the Base Indenture having the title “4.250% Senior Notes due 2024” and the 2027 Notes
shall constitute a separate series of Securities under the Base Indenture having the title “4.750% Senior Notes due 2027.” 

(b) The aggregate principal amount of the 2020 Notes (the “Initial 2020 Notes”), the 2024 Notes (the “Initial
2024 Notes”) and the 2027 Notes (the “Initial 2027 Notes” and, together with the Initial 2020 Notes and the 2024 Notes, the “Initial Notes”) that may be initially authenticated and delivered under the
Indenture shall be $500,000,000, $500,000,000 and $499,550,000, respectively.  

  
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 (c) The Company may from time to time, without the consent of the Holders of Notes, issue
additional 2020 Notes (in any such case “Additional 2020 Notes”), additional 2024 Notes (in any such case “Additional 2024 Notes”) or additional 2027 Notes (in any such case “Additional 2027 Notes”,
and together with the Additional 2020 Notes and the Additional 2024 Notes, the “Additional Notes”) having the same ranking and the same interest rate, maturity and other terms (except for the issue date and, in some cases, the
public offering price and the first interest payment date) as the Initial 2020 Notes, Initial 2024 Notes or the Initial 2027 Notes, as the case may be. The aggregate principal amount of the Additional Notes shall be unlimited. 

(d) Any Additional 2020 Notes and the Initial 2020 Notes shall constitute a single series under the Indenture and all references to the 2020
Notes shall include the Initial 2020 Notes and any Additional 2020 Notes unless the context otherwise requires. Any Additional 2024 Notes and the Initial 2024 Notes shall constitute a single series under the Indenture and all references to the 2024
Notes shall include the Initial 2024 Notes and any Additional 2024 Notes unless the context otherwise requires. Any Additional 2027 Notes and the Initial 2027 Notes shall constitute a single series under the Indenture and all references to the 2027
Notes shall include the Initial 2027 Notes and any Additional 2027 Notes unless the context otherwise requires. In each of the above cases, if any such Additional Notes of such series are not fungible with the previously issued Notes of such series
for U.S. federal income tax purposes, such Additional Notes of such series will be issued with a different CUSIP number as the previously issued Notes of such series, as applicable. For the avoidance of doubt, the 2020 Notes, the 2024 Notes and the
2027 Notes are each a separate series of notes under the Indenture and will not vote together as a single class under the Indenture for any reason. 

(e) The entire outstanding principal of the 2020 Notes shall be payable on March 27, 2020. The rate at which the 2020 Notes shall bear
interest shall be 2.875% per year. The date from which interest shall accrue on the 2020 Notes shall be March 27, 2017, or the most recent Interest Payment Date to which interest has been paid or provided for. The Interest Payment Dates
for the 2020 Notes shall be March 27 and September 27 of each year, beginning September 27, 2017. 
 (f) The entire
outstanding principal of the 2024 Notes shall be payable on April 15, 2024. The rate at which the 2024 Notes shall bear interest shall be 4.250% per year. The date from which interest shall accrue on the 2024 Notes shall be March 27,
2017, or the most recent Interest Payment Date to which interest has been paid or provided for. The Interest Payment Dates for the 2024 Notes shall be April 15 and October 15 of each year, beginning October 15, 2017. 

(g) The entire outstanding principal of the 2027 Notes shall be payable on April 15, 2027. The rate at which the 2027 Notes shall bear
interest shall be 4.750% per year. The date from which interest shall accrue on the 2027 Notes shall be March 27, 2017, or the most recent Interest Payment Date to which interest has been paid or provided for. The Interest Payment Dates
for the 2027 Notes shall be April 15 and October 15 of each year, beginning October 15, 2017. 

  
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 (h) Interest shall be payable on each Interest Payment Date to the Holders of record of the 2020
Notes at the close of business on the March 12 and September 12 immediately preceding each Interest Payment Date and to Holders of record of the 2024 Notes and 2027 Notes on the April 1 and October 1 immediately preceding each
Interest Payment Date (in connection with the Notes, each a “regular record date”). The basis upon which interest shall be calculated shall be that of a 360-day year consisting of twelve 30-day months. 

(i) The Depositary for the Global Notes shall be The Depository Trust Company, New York, New York (“DTC”). 

(j) The Notes that are issued in a registered offering pursuant to the Securities Act shall be substantially in the form attached hereto as
Exhibit A, the terms of which are herein incorporated by reference. Such Global Notes shall be referred to collectively herein as the “Global Notes,” and shall be deposited with the Trustee, as custodian for the Depositary or its
nominee, for credit to an account of an Agent Member, and shall be duly executed by the Company and authenticated by the Trustee as hereinafter provided. The aggregate principal amount of a Global Note may from time to time be increased or decreased
by adjustments made on the records of the Trustee, as custodian for the Depositary or its nominee, as hereinafter provided. 
 (k) Each
Global Note (and all Notes issued in exchange therefor or substitution thereof) shall bear the applicable legends set forth in Exhibit A (the “Note Legends”) on the face thereof until the Note Legends are removed or not required.

 (l) The Notes shall be denominated in Dollars and shall be issuable in minimum denominations of $2,000 or any integral multiple of $1,000
in excess thereof. 
 (m) The Notes may be redeemed by the Company prior to the maturity date, as provided in Section 1.05. 

(n) The Notes will not have the benefit of any sinking fund. 

(o) Except as provided herein, the Holders of the Notes shall have no special rights in addition to those provided in the Base Indenture upon
the occurrence of any particular events. 
 (p) The Notes will be direct, unconditional, senior unsecured and unsubordinated obligations of
the Company, and will rank equal in right of payment to all of the Company’s other existing and future senior unsecured indebtedness and among themselves, and senior in right of payment to any subordinated indebtedness the Company may incur.

 (q) The Notes are not convertible into shares of common stock or other securities of the Company. 

  
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 (r) The restrictive covenants set forth in Section 1.06 shall be applicable to the Notes.

 Section 1.02. Additional Defined Terms. As used herein, the following defined terms shall have the following meanings
with respect to the Notes only: 
 “Additional Notes” has the meaning set forth in Section 1.01(c). 

“Agent Members” has the meaning set forth in Section 1.08(b). 

“Applicable Procedures” means, with respect to any transfer or exchange of or for beneficial interests in any Global
Note, the rules and procedures of the Depositary, Euroclear and Clearstream that apply to such transfer or exchange at the relevant time. 

“Attributable Debt” means, with respect to any sale and lease-back transaction, the present value of the minimum
rental payments called for during the term of the lease (including any period for which such lease has been extended), determined in accordance with GAAP, discounted at a rate that, at the inception of the lease, the lessee would have incurred to
borrow over a similar term the funds necessary to purchase the leased assets. 
 “Capital Lease Obligations”
means, at the time any determination is to be made, the amount of the liability in respect of a capital lease that would at that time be required to be capitalized on a balance sheet prepared in accordance with GAAP. 

“Change of Control” means the occurrence of any of the following: 

(1) the direct or indirect sale, transfer, conveyance or other disposition (other than by way of merger or consolidation), in a
single transaction or a series of related transactions, of all or substantially all of the Company’s assets and the assets of its Subsidiaries, taken as a whole, to one or more “persons” (as that term is defined in
Section 13(d)(3) of the Exchange Act) (other than to the Company or one of its Subsidiaries); 
 (2) the consummation of
any transaction (including, without limitation, any merger or consolidation) as a result of which any “person” (as that term is used in Section 13(d)(3) of the Exchange Act) becomes the beneficial owner (as defined in Rules 13d-3 and
13d-5 under the Exchange Act), directly or indirectly, of more than 50% of the Voting Stock of the Company, measured by voting power rather than number of shares; 

(3) the Company consolidates with, or merges with or into any Person, or any Person consolidates with, or merges with or into
the Company, in any such event pursuant to a transaction in which any of the outstanding Voting Stock of the Company or such other person is converted into or exchanged for cash, securities or other property, other than any such transaction where
the shares of Voting Stock of the Company outstanding immediately prior to such transaction constitute, or are converted into or exchanged for, a majority of the Voting Stock of the surviving Person immediately after giving effect to such
transaction; or 

  
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 (4) the adoption of a plan relating to the liquidation or dissolution of the
Company. 
 Notwithstanding the foregoing, a transaction will not be deemed to involve a Change of Control if
(i) (A) the Company becomes a direct or indirect wholly-owned subsidiary of a holding company and (B) the direct or indirect holders of the Company’s Voting Stock immediately prior to that transaction are the holders of more than
50% of the Voting Stock of such holding company, or (ii) the Company consolidates with, or merges with or into, any person that results in the surviving person remaining a public company. 

“Change of Control Offer” has the meaning set forth in Section 1.06(d). 

“Change of Control Payment” has the meaning set forth in Section 1.06(d). 

“Change of Control Payment Date” has the meaning set forth in Section 1.06(d). 

“Change of Control Triggering Event” means the occurrence of both a Change of Control and a Rating Event.  

“Clearstream” means Clearstream Bank, société anonyme, or its successors.

 “Company” means the Person named as the “Company” in the first paragraph of this Indenture until a
successor Person shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Company” shall mean such successor Person.  

“Comparable Treasury Issue” means the United States Treasury security selected by the Independent Investment Banker as
having a maturity most comparable to the remaining term of the Notes to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities with
comparable maturity to the remaining term of such Notes (assuming for this purpose that, in the case of the 2024 Notes or the 2027 Notes, that such series of Notes matured on the applicable Par Call Date).  

“Comparable Treasury Price” means, with respect to any Redemption Date, (i) the average of four Reference
Treasury Dealer Quotations for such Redemption Date, after excluding the highest and lowest such Reference Treasury Dealer Quotations, (ii) if the Independent Investment Banker obtains fewer than four such Reference Treasury Dealer Quotations,
the average of all such quotations, or (iii) if only one Reference Treasury Dealer Quotation is received, such quotation. 

“Consolidated Net Tangible Assets” means, as of any particular time, the aggregate amount of the Company’s assets
and the assets of the Company’s Subsidiaries (in each case, less applicable reserves and other properly deductible items) after deducting from such amount: 

  
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 (1) all current liabilities other than (A) notes and loans payable,
(B) current maturities of long-term debt and (C) current maturities of Capital Lease Obligations, and 
 (2)
intangible assets, to the extent included in such aggregate assets, all as set forth on the Company’s then most recent consolidated balance sheet and computed in accordance with GAAP. 

“Definitive Security” means a certificated Note registered in the name of the Holder thereof and issued in accordance
with Section 2.01 of the Base Indenture. 
 “DTC” has the meaning set forth in Section 1.01(i).

 “Euroclear” means Euroclear Bank S.A./N.V., or its successor. 

“Event of Default” has the meaning set forth in Section 1.07(a). 

“Fitch” means Fitch Ratings, Inc., a subsidiary of Fimalac, S.A., and its successors. 

“GAAP” means generally accepted accounting principles set forth in the opinions and pronouncements of the Public
Company Accounting Oversight Board (United States) and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other entity as have been approved by a significant segment of the accounting
profession, which are in effect as of the date of this Indenture.  
 “Global Note” means, individually and
collectively, each of the Notes in global form issued to the Depositary or its nominee. 
 “Indebtedness”
means, with respect to any Person, and without duplication, any indebtedness, whether or not contingent, in respect of borrowed money or evidenced by bonds, notes, debentures or similar instruments or obligations under capital leases, except any
such balance that constitutes an accrued expense or trade payable, if and to the extent any of the foregoing indebtedness would appear as a liability upon an unconsolidated balance sheet of such Person in accordance with GAAP (but does not include
contingent liabilities which appear only in a footnote to a balance sheet); provided that Indebtedness shall exclude (A) Indebtedness that is required to be converted at, or prior to, maturity into equity securities of the
Company, and (B) advances and overdrafts in respect of cash pooling and multi-currency notional pooling programs.  

“Independent Investment Banker” means an independent investment institution of national standing, which may be one of
the Reference Treasury Dealers or their respective affiliates, selected by the Company. 
 “Interest Payment
Date” means the stated due date of an installment of interest on the Notes of each series. 

  
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 “Investment Grade Rating” means a rating equal to or higher than Baa3 (or
the equivalent) by Moody’s; BBB– (or the equivalent) by S&P; and BBB- (or the equivalent) by Fitch, and the equivalent investment grade credit rating from any additional rating agency or Rating Agencies selected by the Company.

 “Lien” means any lien, security interest, charge, mortgage, pledge or other encumbrance of any kind
(including any conditional sale or other title retention agreement, any lease in the nature thereof, and any agreement to give any security interest). 

“Moody’s” means Moody’s Investors Service, Inc. and its successors.  

“Notes” means the Initial Notes, any Additional Notes and any other notes issued in respect thereof.  

“Par Call Dates” has the meaning set forth in Section 1.05(a)(i). 

“Rating Agencies” means (1) each of Moody’s, S&P and Fitch; and (2) if any of Moody’s, S&P
or Fitch ceases to rate the 2020 Notes, the 2024 Notes or the 2027 Notes or fails to make a rating of such Notes publicly available for reasons outside of the control of the Company, a “nationally recognized statistical rating
organization” within the meaning of Section 3(a)(62) under the Exchange Act selected by the Company as a replacement agency for Moody’s, S&P or Fitch, as the case may be. 

“Rating Event” means, with respect to any series of Notes, the rating on such Notes is lowered by at least two of the
three Rating Agencies and such Notes are rated below an Investment Grade Rating by at least two of the three Rating Agencies on any day during the period (which period will be extended so long as the rating of such Notes is under publicly announced
consideration for a possible downgrade by any of the Rating Agencies) commencing on the earlier of the date of the first public occurrence of a Change of Control or the date of public notice of an agreement that, if consummated, would result in a
Change of Control and ending 60 days following consummation of such Change of Control. 
 “Redemption Date”
means, when used with respect to any Note to be redeemed, the date fixed for such redemption by or pursuant to this Indenture. 

“Redemption Price” means, when used with respect to any Note to be redeemed, the price at which it is to be redeemed
pursuant to this Indenture. 
 “Reference Treasury Dealer” means each of: (i) Merrill Lynch, Pierce,
Fenner & Smith Incorporated, RBC Capital Markets, LLC and a primary U.S. government securities dealer in New York City (a “Primary Treasury Dealer”) selected by MUFG Securities Americas Inc. and their respective successors;
provided, however, that if any of the foregoing ceases to be a Primary Treasury Dealer, the Company will substitute another Primary Treasury Dealer; and (ii) any other Primary Treasury Dealer selected by the Company. 

  
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 “Reference Treasury Dealer Quotations” means, with respect to each
Reference Treasury Dealer at any Redemption Date, the average, as determined by the Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted
in writing to the Independent Investment Banker by such Reference Treasury Dealer at 3:30 p.m., New York City time, on the third Business Day preceding such Redemption Date. 

“Restricted Subsidiary” means any Subsidiary (a) substantially all the property of which is located, or
substantially all the business of which is carried on, within the United States, or (b) which holds more than 5.0% of the Company’s Consolidated Net Tangible Assets; except for any Subsidiary primarily engaged in financing receivables or
in the finance business.  
 “S&P” means Standard & Poor’s Ratings Services, a division of
The McGraw-Hill Companies, Inc., and its successors. 
 “Subsidiary” of any specified Person means any
corporation, association or other business entity of which more than 50% of the total voting power of shares of capital stock entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees
thereof is at the time owned or controlled, directly or indirectly, by such Person or one or more of the other Subsidiaries of that Person or a combination thereof.  

“Treasury Rate” means, with respect to any Redemption Date, the rate per annum equal to the semi-annual equivalent
yield to maturity of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such Redemption Date. 

“Trust Indenture Act” means the Trust Indenture Act of 1939, as amended, and the rules and regulations thereunder as
in effect on the date of this Indenture, except to the extent that the Trust Indenture Act or any amendment thereto expressly provides for application of the Trust Indenture Act as in effect on another date. 

“Voting Stock” of any specified person as of any date means the capital stock of such person that is at the time
entitled to vote generally in the election of the board of directors of such person. 
 “2024 Notes Par Call
Date” has the meaning set forth in Section 1.05(a)(i).  
 “2027 Notes Par Call Date” has the
meaning set forth in Section 1.05(a)(i).  
 Section 1.03. Trust Indenture Act Provisions. Whenever this
Indenture refers to a provision of the Trust Indenture Act, that provision is incorporated by reference in and made a part of this Indenture. This Indenture shall also include those provisions of the Trust Indenture Act required to be included
herein by the provisions of the Trust Indenture Reform Act of 1990. The following Trust Indenture Act terms used in this Indenture have the following meanings:  

  
 9 

 “indenture securities” means the Notes; 

“indenture security holder” means a Holder of a Note; 

“indenture to be qualified” means the Indenture; 

“indenture Trustee” or “institutional Trustee” means the Trustee; and 

“obligor” on the indenture securities means the Company or any other obligor on the Notes. 

All other terms used in this Indenture that are defined in the Trust Indenture Act, defined by Trust Indenture Act reference to another
statute or defined by any Securities and Exchange Commission rule and not otherwise defined herein have the meanings assigned to them therein. 

Section 1.04. Payment, Transfer and Exchange. (a) Registration of Transfer and Exchange. To permit
registrations of transfers and exchanges, the Company shall execute a new Note or Notes of the same series as the Note presented for a like aggregate principal amount and in authorized denominations and the Trustee shall authenticate and deliver
such Note or Notes upon receipt of an Issuer Order for the authentication and delivery of such Notes. 
 All Notes issued upon any
registration of transfer or exchange of Notes shall be the valid obligations of the Company, evidencing the same indebtedness, and entitled to the same benefits under this Indenture, as the Notes surrendered upon such registration of transfer or
exchange. Prior to such due presentment for the registration of a transfer of any Note, the Trustee, the Company, any paying agent and the Registrar may deem and treat the person in whose name any Note is registered as the absolute owner of such
Note for the purpose of receiving payment of principal of and interest on such Notes and for all other purposes, and none of the Trustee, the Company, the Paying Agent or the Registrar shall be affected by notice to the contrary. 

All certifications, certificates and opinions of counsel which may be required to be submitted to the Trustee to effect a registration of
transfer or exchange may be submitted by facsimile, to be followed by originals. 
 (b) Payment. The principal and interest on
Notes represented by Global Securities will be payable to the Depositary or its nominee, as the case may be, as the sole registered owner and the sole Holder of the Global Securities represented thereby. 

(c) Transfer and Exchange of Beneficial Interests in the Global Securities. The transfer and exchange of beneficial interests in
the Global Securities shall be effected through the Depositary, in accordance with the provisions of this Indenture and the Applicable Procedures. Beneficial interests in any Global Note may be transferred to persons who take delivery thereof in the
form of a beneficial interest in a Global Note. 

  
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 Section 1.05. Optional Redemption. (a) The provisions of Article 11 of
the Base Indenture, as amended by the provisions of this Third Supplemental Indenture, shall apply to the Notes. Each series of Notes are redeemable, in whole or in part, at the Company’s option, on at least 10 days’ but not more than 60
days’ prior notice, as follows:  
 (i) prior to March 27, 2020 in the case of the 2020 Notes,
February 15, 2024 in the case of the 2024 Notes (the “2024 Notes Par Call Date”) and January 15, 2027 in the case of the 2027 Notes (the “2027 Notes Par Call Date,” and together with the 2024 Notes Par
Call Date, the “Par Call Dates”), at a Redemption Price equal to the greater of: 
 (A) 100% of the
principal amount of such Notes to be redeemed; or 
 (B) the sum of the present values of the remaining scheduled payments of
principal and interest, including additional interest, if any, thereon that would have been payable in respect of the Notes calculated, in the case of the 2024 Notes and the 2027 Notes, as if the maturity date of the notes was the applicable Par
Call Date (excluding any portion of such interest accrued as of the Redemption Date) discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) of the Notes being redeemed at the Treasury
Rate plus 25 basis points with respect to the 2020 Notes, 30 basis points with respect to the 2024 Notes, or 35 basis points with respect to the 2027 Notes; plus, in the case of either (A) or (B), accrued and unpaid interest thereon to, but
excluding, the Redemption Date. 
 (ii) On or after the applicable Par Call Date, the 2024 Notes and the 2027 Notes will be
redeemable at a Redemption Price equal to 100% of the principal amount of the Notes being redeemed, plus accrued and unpaid interest thereon to, but excluding, the Redemption Date. 

(b) Unless the Company defaults in payment of the Redemption Price, on and after the Redemption Date for the Notes, interest shall cease to
accrue on the Notes or portions thereof called for redemption. 
 (c) Notice of any redemption with respect to the Notes shall be given in
the manner provided for in Section 11.02 of the Base Indenture on at least 10 days’ but not more than 60 days’ prior notice to the Redemption Date, to each Holder of Notes to be redeemed, except that redemption notices may be
delivered more than 90 days prior to a Redemption Date if such notice is issued in connection with a defeasance of the Notes or a satisfaction and discharge of the Indenture. 

(d) At any time, the Company may repurchase Notes in the open market and may hold such Notes or surrender such Notes to the Trustee for
cancellation pursuant to Section 2.10 of the Base Indenture. 

  
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 (e) For the avoidance of doubt, the Trustee shall not be required to calculate the Redemption
Price or the Treasury Rate. 
 Section 1.06. Additional Covenants. The following additional covenants shall apply with
respect to the Notes so long as any of the Notes remain outstanding: 
 (a) Limitation on Liens. Other than as provided
in Section 1.06(c) below, neither the Company nor any of its Restricted Subsidiaries may create, incur, assume or suffer to exist any Lien upon any of the Company’s property, to secure any Indebtedness of the Issuer or a Restricted Subsidiary,
except for: 
 (i) Liens existing on the date hereof and any extension, renewal or replacement (or successive
extensions, renewals or replacements) of any such Lien; provided that no such extension, renewal or replacement will extend to or cover any property other than the property covered by such existing Lien; 

(ii) Liens on property existing at the time the Company or any of its Restricted Subsidiaries acquires such property, provided
that such Liens: 
 (A) are not incurred in connection with, or in contemplation of the acquisition of the property acquired;
and 
 (B) do not extend to or cover any of the Company’s property or any of its Restricted Subsidiaries’ property
other than the property so acquired; 
 (iii) Liens on any property of a corporation or other entity existing at the time
such corporation or entity becomes the Company’s Restricted Subsidiary or is merged into or consolidated with the Company or a Restricted Subsidiary or at the time of a sale, lease or other disposition of the properties of such corporation or
entity as an entirety or substantially as an entirety to the Company or a Restricted Subsidiary, provided that such Liens: 

(A) are not incurred in connection with or in contemplation of such corporation or entity becoming a Restricted Subsidiary or
merging or consolidating with the Company or a Restricted Subsidiary or are not incurred in connection with or in contemplation of the sale, lease or other disposition of the properties of such corporation or other entity; and 

(B) do not extend to or cover any of the Company’s property or any of its Restricted Subsidiaries’ property other
than the property of such corporation or other entity; 
 (iv) purchase money Liens upon or in any real or personal property
(including fixtures and other equipment) the Company or any of its Restricted Subsidiaries hold or have acquired to secure the purchase price of such property or to secure Indebtedness incurred solely to finance or refinance the acquisition or
improvement of such property and incurred within 270 days after completion of such acquisition or improvement; 

  
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 (v) Liens to secure Indebtedness owing to the Company or to a Restricted
Subsidiary; 
 (vi) Liens for taxes, assessments or other governmental charges not yet due or payable or not overdue for a
period of more than 60 days or that are being contested by the Company or a Restricted Subsidiary, and for which the Company maintains adequate reserves in accordance with GAAP, and attachment, judgment and other similar Liens arising in connection
with legal proceedings; provided that any such judgment does not constitute an Event of Default; 
 (vii) Liens in
favor of the United States to secure amounts paid to the Company or any of its Restricted Subsidiaries as advance or progress payments under government contracts entered into by it so long as such Liens cover only (x) special bank accounts into
which only such advance or progress payments are deposited and (y) supplies covered by such government contracts and material and other property acquired for or allocated to the performance of such government contracts; 

(viii) Liens incurred in connection with an asset acquisition or a project financed with a non-recourse obligation; 

(ix) Liens in favor of suppliers, producers, operators, workmen, materialmen, mechanics, workmen or repairmen, landlord’s
Liens for rent or other similar Liens arising, in each case, in the ordinary course of business in respect of obligations which are not overdue or which are being contested by the Company or any Restricted Subsidiary in good faith and by appropriate
proceedings; 
 (x) Liens consisting of zoning restrictions, licenses, easements, covenants, rights-of-way, utility
easements, building restrictions and similar encumbrances and restrictions on the use of real property and minor irregularities that do not materially impair the use of the real property; 

(xi) Liens arising under leases or subleases of real or personal property that do not, individually or in the aggregate,
materially detract from the value of such real or personal property or materially interfere with the ordinary conduct of the business conducted at such real property or with respect to such personal property; 

(xii) Liens arising under licenses or sublicenses of intellectual property granted in the ordinary course of business; 

(xiii) Liens arising by reason of deposits with, or giving any form of security to, any governmental agency or any body created
or approved by law or government regulation; 

  
 13 

 (xiv) Liens created by or resulting from any litigation or other proceeding that
is being contested in good faith by appropriate proceedings, including Liens arising out of judgments or awards against the Company or any Restricted Subsidiary with respect to which the Issuer or any of its Restricted Subsidiaries is in good faith
prosecuting an appeal or proceedings for review for which the time to make an appeal has not yet expired, and Liens relating to final unappealable judgments that are satisfied within 60 days of the date of judgment or Liens incurred by the Company
or any Restricted Subsidiary for the purposes of obtaining a stay or discharge in the course of any litigation proceeding to which the Company or any of its Restricted Subsidiaries is a party; 

(xv) Liens on deposits securing obligations under cash pooling and multi-currency notional pooling programs; 

(xvi) Liens relating to hedging and similar arrangements entered into in the ordinary course of business, including without
limitation interest rate or foreign currency hedging arrangements; 
 (xvii) Liens incurred or deposits made by the Company
or its Restricted Subsidiaries in the ordinary course of business in connection with workers’ compensation, unemployment insurance and other types of social security benefits, taxes, assessments, statutory obligations or other similar charges,
or to secure the performance of tenders, statutory obligations, bids, leases, government contracts, performance and return-of-money bonds or other similar obligations (exclusive of obligations for the payment of borrowed money); 

(xviii) Liens on account receivables or related assets resulting from the sale of such account receivables or such related
assets, or Liens arising in connection with or related to any securitization financings, factoring arrangements or assignments thereof that may be entered into by the Company or any Restricted Subsidiary; 

(xix) Liens, pledges or deposits made in the ordinary course of banking arrangements in connection with any netting or set-off
arrangements for the purpose of netting debit and credit balances; 
 (xx) Liens on property incurred in sale and lease-back
transactions permitted under Section 1.06(b); and 
 (xxi) Liens constituting any extension, renewal or replacement of
any Liens in provisions (i) to (xx) above to the extent the principal amount of the Indebtedness secured by such Lien is not increased (except to the extent of any premiums, fees or other costs associated with any such extension, renewal
or replacement) and the property encumbered by any such Lien is the same as or substantially similar in nature to the property encumbered by the Lien being extended, renewed or replaced. 

  
 14 

 Notwithstanding the foregoing, the Company or any of its Restricted Subsidiaries may create,
incur, assume or suffer to exist Indebtedness secured by Liens not otherwise permitted by this Section 1.06(a) if the Company first makes effective provisions whereby such series of Notes (together with any other Indebtedness of the Company
then existing or thereafter created ranking equally with such Notes and similarly entitled to be equally and ratably secured) shall be secured equally and ratably with such Indebtedness for so long as such Indebtedness shall so be secured. 

(b) Limitation on Sale and Lease-back Transactions. Other than as provided in Section 1.06(c) below, neither the Company nor any
of its Restricted Subsidiaries may enter into any sale and lease-back transaction with a term longer than three years, unless: 

(i) such transaction was entered into prior to the date hereof; 

(ii) such transaction was for the sale and leasing back to the Company of any property by one of its Restricted Subsidiaries;

 (iii) the Company would be entitled to incur Indebtedness secured by a mortgage on the property to be leased in an amount
equal to the Attributable Debt with respect to such sale and lease-back transaction without equally and ratably securing the notes pursuant to Section 1.06(a) above; or 

(iv) the Company applies an amount equal to the fair value of the property sold to the purchase of property or to the
retirement of its long-term Indebtedness (including the Notes) within 365 days of the effective date of any such sale and lease-back transaction. 

(c) Permitted Liens and Permitted Sale and Lease-back Transactions. Notwithstanding the restrictions set forth under Section
1.06(a) and Section 1.06(b), the Company or any of its Restricted Subsidiaries may create, incur, assume or suffer to exist any Lien or enter into any sale and lease-back transaction not otherwise permitted pursuant to Section 1.06(a) or Section
1.06(b); provided that, at the time of such event, and after giving effect to that event, the aggregate amount of all Indebtedness secured by Liens permitted by this Section 1.06(c) (excluding the Liens permitted pursuant to Section 1.06(a)) and the
aggregate amount of all Attributable Debt in respect of sale and lease-back transactions permitted by this Section 1.06(c) (excluding sale and lease-back transactions permitted under Section 1.06(b)) measured, in each case, at the time any such Lien
is incurred or any such sale and lease-back transaction is entered into, by the Company or any Restricted Subsidiary does not exceed 20% of the Company’s Consolidated Net Tangible Assets. 

(d) Purchase of Notes upon a Change of Control Triggering Event. (i) If a Change of Control Triggering Event occurs with
respect to a particular series of Notes, unless the Company has exercised its option to redeem such Notes as described in Section 1.05 hereof, the Company will make an offer (a “Change of Control Offer”) to each
Holder of such Notes to repurchase all or any part (equal to $2,000 or an integral multiple of $1,000 in excess thereof) of that Holder’s Notes at a repurchase price, payable  

  
 15 

 
in cash, equal to 101% of the aggregate principal amount of Notes repurchased, plus accrued and unpaid interest, on the Notes repurchased to, but excluding, the date of repurchase (the
“Change of Control Payment”). Within 30 days following any Change of Control Triggering Event or, at the Company’s option, prior to any Change of Control, but after public announcement of the transaction that constitutes or may
constitute the Change of Control, a notice will be sent to Holders of the Notes, with a copy to the Trustee, describing the transaction that constitutes or may constitute the Change of Control Triggering Event and offering to repurchase such Notes
on the date specified in the notice, which date will be no earlier than 30 days and no later than 90 days from the date such notice is delivered (the “Change of Control Payment Date”). The notice will, if delivered prior to the date
of consummation of the Change of Control, state that the offer to purchase is conditioned on the Change of Control Triggering Event occurring on or prior to the Change of Control Payment Date and shall state the following: 

(A) that the Change of Control Offer is being made pursuant to this Section 1.06(d) and that all Notes tendered will be
accepted for payment; 
 (B) the purchase price and the purchase date, which shall be no earlier than 30 days and no later
than 90 days from the date such notice is mailed; 
 (C) that any Note not tendered will continue to accrue interest; 

(D) that, unless the Company defaults in the payment of the Change of Control Payment, all Notes accepted for payment pursuant
to the Change of Control Offer will cease to accrue interest after the Change of Control Payment Date; 
 (E) that Holders
electing to have any Notes purchased pursuant to a Change of Control Offer will be required to surrender the Notes, with the form entitled “Option of Holder to Elect Purchase” attached to the Notes completed, or transfer by book-entry
transfer, to the paying agent at the address specified in the notice prior to the close of business on the third Business Day preceding the Change of Control Payment Date; 

(F) that Holders will be entitled to withdraw their election if the paying agent receives, not later than the close of business
on the second Business Day preceding the Change of Control Payment Date, a telegram, telex, facsimile transmission or letter setting forth the name of the Holder, the principal amount of Notes delivered for purchase, and a statement that such Holder
is withdrawing his election to have the Notes purchased; and 

  
 16 

 (G) that Holders whose Notes are being purchased only in part will be issued new
Notes equal in principal amount to the unpurchased portion of the Notes surrendered, which unpurchased portion must be equal to $2,000 in principal amount or an integral multiple of $1,000 in excess thereof. 

The Company will comply with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and
regulations thereunder to the extent those laws and regulations are applicable in connection with the repurchase of the Notes as a result of a Change of Control Triggering Event. To the extent that the provisions of any securities laws or
regulations conflict with the provisions of this Section 1.06(d), the Company will comply with the applicable securities laws and regulations and will not be deemed to have breached its obligations under this Section 1.06(d) by virtue of such
compliance. 
 (ii) On the Change of Control Payment Date, the Company will, to the extent lawful: 

(A) accept for payment all Notes or portions of Notes properly tendered pursuant to the Change of Control Offer; 

(B) deposit with the paying agent an amount equal to the Change of Control Payment in respect of all Notes or portions of Notes
properly tendered; and 
 (C) deliver or cause to be delivered to the Trustee the Notes properly accepted together with an
Officers’ Certificate stating the aggregate principal amount of Notes or portions of Notes being repurchased. 
 The
paying agent will promptly deliver (but in any case not later than five days after the Change of Control Payment Date) to each Holder of Notes properly tendered the Change of Control Payment for such Notes, and the Trustee will promptly authenticate
and deliver (or cause to be transferred by book entry) to each Holder a new Note equal in principal amount to any unpurchased portion of the Notes surrendered, if any. The Company will publicly announce the results of the Change of Control Offer on
or as soon as practicable after the Change of Control Payment Date. 
 (iii) Notwithstanding anything to the contrary in this
Section 1.06(d), the Company will not be required to make a Change of Control Offer upon the occurrence of a Change of Control Triggering Event if (a) a third party makes such an offer in the manner, at the times and otherwise in compliance
with the requirements set forth in this Section 1.06(d) and the third party repurchases all Notes properly tendered and not withdrawn under its offer, or (b) notice of redemption has been given pursuant to Section 1.05 hereof, unless and
until there is a default in payment of the applicable Redemption Price. 

  
 17 

 Section 1.07. Defaults and Remedies. (a) Events of Default. This Section
1.07(a) shall replace Section 4.01 of the Base Indenture with respect to the Notes only. 
 Each of the following is an
“Event of Default” with respect to a particular series of Notes: 
 (i) default in the payment of interest
on such series of Notes when due, and such default has continued for a period of 90 days or more and the time for such payment is due has not been extended or deferred; 

(ii) default in the payment (at maturity, upon redemption or otherwise) of the principal of such series of Notes when due; 

(iii) failure by the Company for 90 days after notice to the Company by the Trustee or the Holders of at least 25% in aggregate
principal amount of the Notes of such series then Outstanding to perform or observe any of the other covenants or agreements in this Indenture applicable to such series (other than defaults specified in clauses (i) or (ii) above); 

(iv) any of the Company’s Indebtedness in the aggregate outstanding principal amount of $250 million or more either: 

(A) becomes due and payable prior to the due date for payment of such Indebtedness by reason of acceleration of such
Indebtedness following a default by the Company; or 
 (B) is not repaid at, and remains unpaid after, maturity as extended
by any applicable period of grace or any guarantee given by us in respect of Indebtedness of any other Person in the aggregate outstanding principal amount of $250 million or more is not honored when, and remains dishonored after, becoming due; 

(v) the Company pursuant to or within the meaning of any Bankruptcy Law (A) commences a voluntary case, (B) consents
to the entry of an order for relief against it in an involuntary case, (C) consents to the appointment of a custodian of it or for all or substantially all of its property or (D) makes a general assignment for the benefit of its creditors;
or 
 (vi) a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that (A) is for relief
against the Company in an involuntary case, (B) appoints a custodian of the Company for all or substantially all of the Company’s properties, or (C) orders the liquidation of the Company, and, in any of the above cases, the order or
decree remains unstayed and in effect for 90 days. 

  
 18 

 (b) Acceleration of Maturity. In the case of an Event of Default specified in
clause (v) or (vi) of Section 1.07(a), all outstanding Notes will become due and payable immediately without further action or notice. If any other Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in aggregate
principal amount of the then outstanding Notes of a particular series may declare all the Notes of such series to be due and payable immediately by notice in writing to the Company (and to the Trustee if written notice is given by such Holders).
Upon any such declaration, the Notes of such series shall become due and payable immediately. 
 The Holders of a majority in
aggregate principal amount of the then outstanding Notes of a particular series by written notice to the Trustee may, on behalf of all of the Holders of such series, rescind an acceleration and its consequences with respect to such series of Notes,
if the rescission would not conflict with any judgment or decree and if all existing Events of Default with respect to such series of Notes (except nonpayment of principal, interest or premium that has become due solely because of the acceleration)
have been cured or waived. 
 Section 1.08. Book-Entry Provisions for Global Notes. (a) Each Global Note initially
shall (i) be registered in the name of the Depositary for such Global Note or the nominee of such Depositary, in each case for credit to the account of an Agent Member, and (ii) be delivered to the Trustee as custodian for such Depositary.
None of the Company, any agent of the Company or the Trustee shall have any responsibility or liability for any aspect of the records relating to or payments made on account of beneficial ownership interests of a Global Note, or for maintaining,
supervising or reviewing any records relating to such beneficial ownership interests. 
 (b) Members of, or participants in,
the Depositary (“Agent Members”) shall have no rights under this Indenture with respect to any Global Note held on their behalf by the Depositary, or its custodian, or under such Global Notes. The Depositary may be treated by the
Company, any other obligor upon the Notes, the Trustee and any agent of any of them as the absolute owner of the Global Notes for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Company, any other obligor
upon the Notes, the Trustee or any agent of any of them from giving effect to any written certification, proxy or other authorization furnished by the Depositary or impair, as between the Depositary and its Agent Members, the operation of customary
practices governing the exercise of the rights of a beneficial owner of any Note. The Holder of a Global Note may grant proxies and otherwise authorize any Person, including Agent Members and Persons that may hold interests through Agent Members, to
take any action that a Holder is entitled to take under this Indenture or the Notes. 
 (c) Transfers of a Global Note shall be
limited to transfers of such Global Note in whole, but, subject to the immediately succeeding sentence, not in part, to the Depositary, its successors or their respective nominees. Interests of beneficial owners in a Global Note may not be
transferred or exchanged for physical Notes unless (i) the Company has consented thereto in writing, or such transfer or exchange is made pursuant to the next sentence, and (ii) such transfer or exchange is in accordance with the
applicable rules and procedures of the Depositary. Subject to the limitation on issuance 

  
 19 

 
of physical Notes, physical Notes shall be transferred to all beneficial owners in exchange for their beneficial interests in the relevant Global Note, if (i) the Depositary notifies the
Company at any time that it is unwilling or unable to continue as Depositary for the Global Notes and a successor depositary is not appointed within 120 days; (ii) the Depositary ceases to be registered as a “Clearing Agency” under
the Exchange Act and a successor depositary is not appointed within 120 days; or (iii) the Company, at its option, notifies the Trustee that it elects to cause the issuance of physical Notes. 

(d) The transfer and exchange of a Global Note or beneficial interests therein shall be effected through the Depositary, in accordance with
this Indenture (including applicable restrictions on transfer set forth in Section 1.09) and the Applicable Procedures therefor of the Depositary. Any beneficial interest in one of the Global Notes that is transferred to a Person who takes
delivery in the form of an interest in a different Global Note will, upon transfer, cease to be an interest in such Global Note and become an interest in the other Global Note and, accordingly, will thereafter be subject to all transfer
restrictions, if any, and other procedures applicable to beneficial interests in such other Global Note for as long as it remains such an interest. A transferor of a beneficial interest in a Global Note shall deliver to the Registrar a written order
given in accordance with the Depositary’s Applicable Procedures containing information regarding the participant account of the Depositary to be credited with a beneficial interest in the relevant Global Note. The Registrar shall, in accordance
with such instructions, instruct the Depositary to credit to the account of the Person specified in such instructions a beneficial interest in such Global Note and to debit the account of the Person making the transfer the beneficial interest in the
Global Note being transferred. 
 Section 1.09. Satisfaction and Discharge of Indenture. This Section 1.09 shall replace
Section 9.01(a) of the Base Indenture with respect to the Notes only.  
 (a) either (i) all the Notes of such series that
have been authenticated and delivered have been cancelled or delivered to the Trustee for cancellation (other than any Notes of such series which shall have been destroyed, lost or stolen and which shall have been replaced or paid as provided in
Section 2.09 of the Base Indenture); or (ii) all the Notes of such series issued that have not been cancelled or delivered to the Trustee for cancellation shall have become due and payable, or are by their terms to become due and payable
at their final maturity within one year, or are to be called for redemption within one year, under irrevocable arrangements satisfactory to the Trustee for the giving of notice of redemption by the Trustee in the Company’s name, and at the
Company’s expense and the Company shall have irrevocably deposited or caused to be deposited with the Trustee sufficient funds to pay and discharge the entire indebtedness on the Notes of such series to pay principal, interest, if any, and any
premium, which for purposes of this provision shall be calculated without applying any “present value discount” and using a Treasury Rate of no less than zero. 

Section 1.10. Successors. Upon any consolidation or merger, or any sale, transfer, lease, conveyance or other disposition of the
assets of the Company substantially as an entirety in a transaction that is subject to, and that complies with the provisions of, Article 8 of the Base Indenture, the successor Person formed by such consolidation or

  
 20 

 
into or with which the Company is merged or to which such sale, lease, transfer, conveyance or other disposition is made shall succeed to, and be substituted for (so that from and after the date
of such consolidation, merger, sale, lease, transfer, conveyance or other disposition, the provisions of this Indenture referring to the “Company” shall refer instead to the successor Person and not to the Company), and may exercise every
right and power of the Company under this Indenture with the same effect as if such successor Person had been named as the Company herein; provided, however, that the predecessor Company shall not be relieved from the obligation to pay the principal
of and interest on the Notes except in the case of a sale of all of the Company’s assets in a transaction that is subject to, and that complies with the provisions of, this Section 1.10. 

ARTICLE 2 

MISCELLANEOUS 

Section 2.01. Definitions. Capitalized terms used but not defined in this Third Supplemental Indenture shall have the meanings
ascribed thereto in the Base Indenture. 
 Section 2.02. Confirmation of Indenture. The Base Indenture, as supplemented and
amended by this Third Supplemental Indenture, is in all respects ratified and confirmed, and the Base Indenture, this Third Supplemental Indenture and all indentures supplemental thereto shall be read, taken and construed as one and the same
instrument. 
 Section 2.03. Governing Law. THIS INDENTURE AND THE NOTES, INCLUDING ANY CLAIM OR CONTROVERSY ARISING OUT OF OR
RELATING TO THE INDENTURE OR THE NOTES, SHALL BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAW PRINCIPLES THAT WOULD RESULT IN THE APPLICATION OF ANY LAW OTHER THAN THE LAW OF THE STATE OF NEW YORK. 

Section 2.04. Severability. In case any provision in this Third Supplemental Indenture or in the Notes shall be invalid, illegal
or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

Section 2.05. Counterparts. This Third Supplemental Indenture may be executed in any number of counterparts and by the parties
hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. 

Section 2.06. No Benefit. Nothing in this Third Supplemental Indenture, express or implied, shall give to any person other than
the parties hereto and their successors or assigns, and the Holders of the Notes, any benefit or legal or equitable rights, remedy or claim under this Third Supplemental Indenture or the Base Indenture. 

Section 2.07. Trustee. The Trustee makes no representations or warranties as to the validity or sufficiency of this Third
Supplemental Indenture. 

  
 21 

 IN WITNESS WHEREOF, the parties hereto have caused the Indenture to be duly executed as of the
date set forth above. 
  

			
	DXC TECHNOLOGY COMPANY
		
	By:	 	 /s/ Paul Saleh

		 	Name: Paul Saleh
		 	Title: Executive Vice President, Chief Financial Officer
		
	By:	 	 /s/ Neil A. Manna

		 	Name: Neil A. Manna
		 	Title: Principal Accounting Officer, Senior Vice President and Controller

 [Signature Page to Third Supplemental Indenture] 

 
			
	U.S. BANK NATIONAL ASSOCIATION, as Trustee
		
	By:	 	 /s/ Elizabeth A. Boyd

		 	Name: Elizabeth A. Boyd
		 	Title: Vice President

 [Signature Page to Third Supplemental Indenture] 

 EXHIBIT A 

FORM OF GLOBAL NOTE 

[Global Notes Legend] 
 THIS SECURITY IS A
REGISTERED GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF THE DEPOSITORY TRUST COMPANY ( THE “DEPOSITARY”) OR A NOMINEE OF THE DEPOSITARY. THIS SECURITY IS EXCHANGEABLE FOR
SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE, AND MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY, BY A
NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH A SUCCESSOR DEPOSITARY. 

UNLESS THIS SECURITY IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR
PAYMENT, AND ANY SECURITY ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 

  
 A-1 

 FORM OF         % SENIOR NOTES DUE
         
  

			
	No. [    ]	  	$[                    ]

 CUSIP No.
                     
 DXC
TECHNOLOGY COMPANY 
 DXC TECHNOLOGY COMPANY (F.K.A. EVERETT SPINCO, INC.), a Nevada corporation (the “Company”), promises to
pay to Cede & Co., or registered assigns, the principal sum of                     Dollars
($                    ) on
                    ,             . 

Interest Payment Dates:             and
             
 Record Dates:
            and              

Each holder of this Note (as defined below), by accepting the same, agrees to and shall be bound by the provisions hereof and of the Indenture
described herein, and authorizes and directs the Trustee described herein on such holder’s behalf to be bound by such provisions. Each holder of this Note hereby waives all notice of the acceptance of the provisions contained herein and in the
Indenture and waives reliance by such holder upon said provisions. 
 This Note shall not be entitled to any benefit under the Indenture, or
be valid or become obligatory for any purpose, until the Certificate of Authentication hereon shall have been manually signed by or on behalf of the Trustee. The provisions of this Note are continued on the reverse side hereof, and such continued
provisions shall for all purposes have the same effect as though fully set forth at this place. 

  
 A-2 

 IN WITNESS WHEREOF, the Company has caused this Note to be signed in accordance with the
Indenture. 
 Date:                     ,
             
  

			
	DXC TECHNOLOGY COMPANY
		
	By:	 	  

		 	Name: Paul Saleh
		 	Title: Executive Vice President, Chief Financial Officer
		
	By:	 	  

		 	Name: Neil A. Manna
		 	Title: Principal Accounting Officer, Senior Vice President and Controller

  
 A-3 

 CERTIFICATE OF AUTHENTICATION 

This is one of the     % Senior Notes due             issued
by DXC Technology Company of the series designated therein referred to in the within-mentioned Indenture. 
 Date:
                    ,              

 

			
	U.S. BANK NATIONAL ASSOCIATION, as Trustee
		
	By:	 	  

		 	Authorized Signatory

  
 A-4 

 DXC Technology Company 

    % Senior Notes due          

This note is one of a duly authorized series of debt securities of DXC Technology Company (f.k.a. Everett SpinCo, Inc.), a Nevada
corporation (the “Company”), issued or to be issued in one or more series under and pursuant to an Indenture for the Company’s debentures, notes or other debt instruments evidencing its Indebtedness, dated as of March 27,
2017 (the “Base Indenture”), duly executed and delivered by and among the Company and U.S. Bank National Association (the “Trustee”), as supplemented by the Third Supplemental Indenture, dated as of
            , 2017 (the “ Third Supplemental Indenture”), by and between the Company and the Trustee. The Base Indenture as supplemented and amended by the Third
Supplemental Indenture is referred to herein as the “Indenture.” By the terms of the Base Indenture, the debt securities issuable thereunder are issuable in series that may vary as to amount, date of maturity, rate of interest and
in other respects as provided in the Base Indenture. This note is one of the series designated on the face hereof (individually, a “Note,” and collectively, the “Notes”), and reference is hereby made to the
Indenture for a description of the rights, limitations of rights, obligations, duties and immunities of the Trustee, the Company and the Holders of the Notes (the “Holders”). Capitalized terms used herein and not otherwise defined
shall have the meanings given them in the Base Indenture or the Third Supplemental Indenture, as applicable. 
 1. Interest.
The rate at which the Notes shall bear interest shall be             % per year. [The date from which interest shall accrue on the Notes shall be
            ,             or the most recent Interest Payment Date to which interest has been paid or provided for.]1 [Interest on this Note will accrue (or will be deemed to have accrued) from the most recent date to which interest on this Note or any of its predecessor Notes has been paid or duly provided for or,
if no such interest has been paid, from             ,             .]2 The
Interest Payment Dates for the Notes shall be             and             of each year, beginning
            , 2017. Interest shall be payable on each Interest Payment Date to the Holders of record at the close of business on the March 1 and September 1 prior to each Interest
Payment Date. The basis upon which interest shall be calculated shall be that of a 360-day year consisting of twelve 30-day months. 

2. Method of Payment. The Company will pay interest on the Notes (except defaulted interest), if any, to the persons in whose
name such Notes are registered at the close of business on the regular record date referred to on the facing page of this Note for such interest installment. In the event that the Notes or a portion thereof are called for redemption and the
Redemption Date is subsequent to a regular record date with respect to any Interest Payment Date and prior to such Interest Payment Date, interest on such Notes will be paid upon presentation and surrender of such Notes as provided in the Indenture.
The principal of and the interest on the Notes shall be payable in Dollars, at the office or agency of the Company maintained for that purpose in accordance with the Indenture. 

 
  

 

	1 	Include only for Initial Notes. 

	2 	Include only for Additional Notes. 

  
 A-5 

 3. Paying Agent and Registrar. Initially, the Trustee will act as paying agent and
Registrar. The Company may change or appoint any paying agent or Registrar without notice to any Holder. 
 4.
Indenture. The terms of the Notes include those stated in the Indenture and those made part of the Indenture by reference to the Trust Indenture Act of 1939 (“Trust Indenture Act”) as in effect on the date the
Indenture is qualified. The Notes are subject to all such terms, and Holders are referred to the Indenture and the Trust Indenture Act for a statement of such terms. The Notes are senior unsecured obligations of the Company and constitute the series
designated on the face hereof as the “            % Senior Notes due             ”, initially limited to
$            in aggregate principal amount. The Company will furnish to any Holders upon written request and without charge a copy of the Base Indenture and the Third Supplemental
Indenture. Requests may be made to: DXC Technology Company, 1775 Tysons Boulevard, Tysons, Virginia 22102, Attention: General Counsel. 

5. Redemption. The Notes shall be redeemable as a whole or in part, at the Company’s option, at any time or from time to
time, as provided in Section 1.05 of the Third Supplemental Indenture. 
 6. Mandatory Redemption or Sinking Fund.
The Company is not required to make mandatory redemption or sinking fund payments with respect to the Notes.  
 7. Change
of Control Triggering Event. If a Change of Control Triggering Event occurs with respect to the Notes, unless the Company has redeemed such Notes as described in Section 1.05 of the Third Supplemental Indenture, the Company will make an
offer to each Holder of such Notes to repurchase all or any part (equal to $2,000 or an integral multiple of $1,000 in excess thereof) of that Holder’s Notes at a repurchase price, payable in cash, equal to 101% of the aggregate principal
amount of Notes repurchased, plus accrued and unpaid interest, on the Notes repurchased to the date of repurchase. Within 30 days following any Change of Control Triggering Event or, at the Company’s option, prior to any Change of Control, but
after public announcement of the transaction that constitutes or may constitute the Change of Control, a notice will be sent to Holders of the Notes, with a copy to the Trustee, describing the transaction that constitutes or may constitute the
Change of Control Triggering Event and offering to repurchase such Notes on the date specified in the notice, which date will be no earlier than 30 days and no later than 90 days from the date such notice is mailed, in accordance with
Section 1.06(d) of the Third Supplemental Indenture. 
 8. Denominations, Transfer, Exchange. The Notes are in
registered form without coupons in minimum denominations of $2,000 or any integral multiple of $1,000 in excess thereof. The transfer of Notes may be registered and Notes may be exchanged as provided in Section 1.04 and Section 1.08 of the
Third Supplemental Indenture and Section 1.09 and Section 2.08 of the Base Indenture. The Notes may be presented for exchange or for registration of transfer at the office of the Company or its agency designated by the Company for such
purpose. 

  
 A-6 

 9. Persons Deemed Owners. The person in whose name this Note is registered may be
treated as its owner for all purposes. 
 10. Repayment to the Company. The Trustee and the paying agent shall pay to
the Company upon request any money held by them for the payment of principal and interest that remains unclaimed for two years. After that, Holders entitled to the money must look to the Company for payment as general creditors unless an applicable
abandoned property law designates another person. 
 11. Amendments, Supplements and Waivers. Subject to certain
exceptions, the Company and the Trustee may amend or supplement the Indenture and the Notes with the written consent (including consents obtained in connection with a tender offer or exchange offer for Notes) of the Holders of a majority in
principal amount of the then outstanding Notes, and compliance with any provision of the Indenture and the Notes may be waived with the written consent (including consents obtained in connection with a tender offer or exchange offer for Notes) of
the Holders of a majority in principal amount of the then outstanding Notes. The Company and the Trustee may amend or supplement the Indenture and the Notes without notice to or consent of any Holder as provided in the Indenture, including, without
limitation, to maintain the qualification of the Indenture under the Trust Indenture Act or to cure any ambiguity, defect or inconsistency or make any change that would not adversely affect the legal rights under the Indenture of any Holder in any
material respect. 
 12. Defaults and Remedies. If an Event of Default with respect to the Notes occurs and is
continuing (other than an Event of Default in Section 1.07(a)(v) or 1.07(a)(vi) of the Third Supplemental Indenture), then in every such case the Trustee or the Holders of not less than 25% in principal amount of the outstanding Notes may declare
the principal amount of and accrued and unpaid interest, if any, on all the Notes to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by the Holders), and upon such declaration such principal amount
and accrued and unpaid interest, if any, shall become immediately due and payable. If an Event of Default specified in Sections 1.07(a)(v) or 1.07(a)(vi) of the Third Supplemental Indenture shall occur, the principal of and accrued and unpaid
interest, if any, on all outstanding Notes shall ipso facto become and be immediately due and payable without any declaration or other act on the part of the Trustee or any Holder of outstanding Notes. Subject to the terms of the Indenture,
if an Event of Default under the Indenture shall occur and be continuing, the Trustee will be under no obligation to exercise any of the rights or powers vested in it by the Indenture at the request or direction of any of the Holders unless such
Holders shall have offered the Trustee security or indemnity satisfactory to it. Upon satisfaction of certain conditions set forth in the Indenture, the Holders of a majority in principal amount of the outstanding Notes shall have the right to
direct the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee, with respect to the Notes. 

  
 A-7 

 13. Trustee May Hold Securities. The Trustee, subject to certain limitations
imposed by the Trust Indenture Act, in its individual or any other capacity, may become the owner or pledgee of Notes with the same rights it would have if it were not Trustee, paying agent or Registrar. 

14. No Recourse Against Others. A director, officer, employee or stockholder (past or present), as such, of the Company shall not
have any liability for any obligations of the Company under the Notes or the Indenture or for any claim based on, in respect of or by reason of such obligations or their creation. Each Holder by accepting a Note waives and releases all such
liability. The waiver and release are part of the consideration for the issue of the Notes. 
 15. Discharge of
Indenture. The Indenture contains certain provisions pertaining to discharge and defeasance, which provisions shall for all purposes have the same effect as if set forth herein. 

16. Authentication. This Note shall not be valid until the Trustee manually signs the certificate of authentication attached to
the other side of this Note. 
 17. Trust Indenture Act Controls. This Indenture incorporates and is governed by the provisions
of the Trust Indenture Act that are required to be part of and to govern indentures qualified under the Trust Indenture Act. If any provision of this Indenture limits, qualifies or conflicts with the duties imposed by the Trust Indenture Act, the
imposed duties shall control. 
 18. Abbreviations. Customary abbreviations may be used in the name of a Holder or an assignee,
such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act). 

19. Governing Law. THE INDENTURE AND THIS NOTE, INCLUDING ANY CLAIM OR CONTROVERSY ARISING OUT OF OR RELATING TO THE INDENTURE OR
THIS NOTE, SHALL BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAW PRINCIPLES THAT WOULD RESULT IN THE APPLICATION OF ANY LAW OTHER THAN THE LAW OF THE STATE OF NEW YORK. 

  
 A-8 

 ASSIGNMENT FORM 

To assign this Note, fill in the form below: (I) or (we) assign and transfer this Note to: 

 

	
	  
 (Insert assignee’s legal
name)

  

	
	  
 (Insert
assignee’s soc. sec. or tax I.D. no.)

	  

	  

	  

	  

	(Print or type assignee’s name, address and zip code)

  

	
	 and irrevocably
appoint                                        
                                         
                                     agent to transfer this Note
on the books of the Company. The agent may substitute another to act for him.

	
	 Date:
                    

  
  

 

	
	 Your
 Signature:
                                         
                       

	(Sign exactly as your name appears on the face of this Note)

  

			
	 Signature
 Guarantee:
	 	  
  

		 	(Signature must be guaranteed by a participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee))

  
 B-1 

 OPTION OF HOLDER TO ELECT PURCHASE 

If you want to elect to have this Note purchased by the Company pursuant to Section 1.06(d) of the Third Supplemental Indenture, check the
box: 
  

	 	☐	1.06(d) Change of Control Triggering Event 

 If you want to elect to have only part of this Note
purchased by the Company pursuant to Section 1.06(d) of the Third Supplemental Indenture, state the amount: $            . 

 

					
	Date:                     	  	Your
Signature:	  	  
  

		  	(Sign exactly as your name appears on the other side of the Note)
			
		  	Tax I.D.
number:	  	  

  

			
	Signature Guarantee:	 	  
  

		 	(Signature must be guaranteed by a participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee))

  
 B-2 

 SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE 

The following exchanges of a part of this Global Note for an interest in another Global Note or for a Definitive Security, or exchanges of a
part of another Global Note or Definitive Security for an interest in this Global Note, have been made: 
  

									
	 Date of Exchange
	  	Amount of decrease in
Principal Amount of
this Global Note	  	Amount of increase in
Principal Amount of
this Global Note	  	Principal Amount of
this Global Note
following such
decrease (or increase)	  	Signature of
authorized officer of
Trustee or custodian

  
 B-3Exhibit

Exhibit 10.6

Dated 24 May 2017

LIVANOVA PLC

KEYNA P. SKEFFINGTON

SERVICE AGREEMENT

THIS AGREEMENT is made on 24 May, 2017
BETWEEN
		
	(1)
	LIVANOVA PLC, a company registered in England with registered number 09451374 and having its registered office at 1 Fetter Lane, London, EC4A 1BR (the “Company”); and

		
	(2)
	KEYNA P. SKEFFINGTON, residing at 5335 Irving Ave South, Minneapolis, MN 55419, U.S.A. (the “Executive”).

BACKGROUND
The Company wishes to employ the Executive as Senior Vice President & General Counsel on the terms and conditions of this Agreement and the Executive wishes to accept such employment.
IT IS AGREED as follows:
		
	1.
	DEFINITIONS AND INTERPRETATION

		
	1.1
	Definitions

In this Agreement, unless the context otherwise requires:
	
		
	“Basic Salary”
	means the salary, as specified in Clause 6.1.1 or, as appropriate, the reviewed annual salary from time to time;

	“Board”
	means the Board of Directors of the Company from time to time or any duly authorised committee thereof, or where the relevant powers have been reserved to the Company’s members, its members from time to time;

	“Compensation Committee”
	means the compensation committee appointed by the Board;

	“Confidential Information”
	means all information which is identified or treated by the Company or any Group Company or any of the Group’s clients or customers as confidential or which by reason of its character or the circumstances or manner of its disclosure is evidently confidential including (without prejudice to the foregoing generality) any information about the personal affairs of any of the directors (or their families) of the Company or any Group Company, business plans, proposals relating to the acquisition or disposal of a company or business or proposed expansion or contraction of activities, maturing new business opportunities, research and development projects, designs, secret processes, trade secrets, product or services development and formulae, know-how, inventions, sales statistics and forecasts, marketing strategies and plans, costs, profit and loss and other financial information (save to the extent published in audited accounts), prices and discount structures and the names, addresses and contact and other details of: (a) employees and their terms of employment; (b) customers and potential customers, their requirements and their terms of business with the Company/Group; and (c) suppliers and potential suppliers and their terms of business (all whether or not recorded in writing or in electronic or other format);

	“Employment”
	means the employment of the Executive under this Agreement or, as the context requires, the duration of that employment;

1

	
		
	“Group”
	means together or separately the Company, any holding company of the Company and any subsidiaries and subsidiary undertakings of the Company or any such holding company (and the words “subsidiary” and “holding company” shall have the meanings given to them in section 1159 of the Companies Act 2006 and “subsidiary undertaking” shall have the meaning given in section 1162 of the Companies Act 2006) from time to time;

	“Group Company”
	means any company within the Group;

	“Health Care Scheme”
	means the medical expenses insurance, permanent health insurance (“PHI”), critical illness insurance or other healthcare or disability scheme(s) or arrangement(s) as may be provided or introduced from time to time by the Company (at the Company’s discretion) for the benefit of executives in the Group;

	“Intellectual Property Rights”
	means any and all existing and future intellectual or industrial property rights in and to any Works (whether registered or unregistered), including all existing and future patents, copyrights, design rights, database rights, trade marks, semiconductor topography rights, plant varieties rights, internet rights/domain names, know-how and any and all applications for any of the foregoing and any and all rights to apply for any of the foregoing in and to any Works;

	“Minority Holder”
	means a person who either solely or jointly holds (directly or through nominees) any shares or loan capital in any company whose shares are listed or dealt in on a recognised investment exchange (as that term is defined by section 285 Financial Services and Markets Act 2000) provided that such holding does not, when aggregated with any shares or loan capital held by the Executive’s partner and/or her or her partner’s children under the age of 18, exceed 3% of the shares or loan capital of the class concerned for the time being issued;

	“Share Incentives”
	means any options or other rights that the Executive may have to purchase, hold or otherwise acquire shares or rights in respect of or relating to shares in the Company or a Group Company;

	“Termination Date”
	means the date of termination of the Employment;

	“Works”
	means any documents, materials, models, designs, drawings, processes, inventions, formulae, computer coding, methodologies, know-how, Confidential Information or other work, performed made, created, devised, developed or discovered by the Executive in the course of the Employment (and which relate to, or are reasonably capable of being used in the business of the Company or any Group Company) either alone or with any other person in connection with or in any way affecting or relating to the business of the Company or any Group Company or capable of being used or adapted for use therein or in connection therewith.

		
	1.2
	Interpretation and Construction

Save to the extent that the context or the express provisions of this Agreement require otherwise, in this Agreement:
		
	(a)
	words importing the singular shall include the plural and vice versa;

		
	(b)
	words importing any gender shall include all other genders;

2

		
	(c)
	words importing the whole shall be treated as including reference to any part of the whole;

		
	(d)
	any reference to a Clause, the Schedule or part of the Schedule is to the relevant Clause, Schedule or part of the Schedule of or to this Agreement unless otherwise specified;

		
	(e)
	reference to this Agreement or to any other document is a reference to this Agreement or to that other document as modified, amended, varied, supplemented, assigned, novated or replaced from time to time;

		
	(f)
	reference to a provision of law is a reference to that provision as extended, applied, amended, consolidated or re-enacted or as the application thereof is modified from time to time and shall be construed as including reference to any order, instrument, regulation or other subordinate legislation from time to time made under it;

		
	(g)
	references to a “person” includes any individual, firm, company, corporation, body corporate, government, state or agency of state, trust or foundation, or any association, partnership or unincorporated body (whether or not having separate legal personality) or two or more of the foregoing;

		
	(h)
	general words shall not be given a restrictive meaning because they are followed by words which are particular examples of the acts, matters or things covered by the general words and “including”, “include” and “in particular” shall be construed without limitation; and

		
	(i)
	the meaning of any words coming after “other” or “otherwise” shall not be constrained by the meaning of any words coming before “other” or “otherwise where a wider construction is possible.

		
	1.3
	Headings

The table of contents and the headings in this Agreement are included for convenience only and shall be ignored in construing this Agreement.
		
	2.
	THE EMPLOYMENT

		
	2.1
	Appointment

Subject to the provisions of this Agreement, the Company employs the Executive and the Executive accepts employment as Senior Vice President & General Counsel of the Company.  The Employment will commence on 12 June 2017.

3

		
	2.2
	Work Permits and warranty

		
	2.2.1
	The Executive warrants to the Company that by virtue of entering into this Agreement she will not be in breach of any express or implied obligation to any third party, including any restrictive covenants.

		
	2.2.2
	The Executive warrants that she is legally entitled to work in the United Kingdom, or will undertake such steps as are necessary to become legally entitled to work in the United Kingdom, as soon as reasonably possible, and will throughout the Employment thereafter continue to hold a valid United Kingdom work permit if appropriate. The Executive warrants that she will notify the Company in advance of any possible change to her immigration status, as soon as she becomes aware of any circumstances that might give rise to such change. Should the Company discover that the Executive does not have permission to live and work in the United Kingdom or if any such permission is revoked, the Company reserves the right to terminate the Employment immediately and without notice or pay in lieu of notice and without referring to the warning stages of the Company’s disciplinary procedure. 

		
	3.
	DURATION OF THE EMPLOYMENT

		
	3.1
	Continuous Employment 

		
	3.1.1
	The Executive’s continuous period of employment with the Company will commence on the commencement date of the Employment as set out in Clause 2.1.

		
	3.1.2
	No employment with any previous employer shall count as part of the Executive’s continuous period of employment.

		
	3.2
	Duration and Notice 

Subject to the provisions of Clauses 3.3 and 18.1, the Employment shall continue unless and until terminated at any time by:
		
	(a)
	the Company, which must give to the Executive not less than twelve months’ prior written notice of termination of the Employment; or

		
	(b)
	the Executive, who must give to the Company not less than twelve months’ prior written notice of termination of the Employment.

		
	3.3
	Payment in lieu of notice

		
	3.3.1
	The Company shall be entitled, at its sole discretion, to terminate the Employment immediately at any time by giving the Executive notice in writing.  In these circumstances, the Company will subsequently make a payment to the Executive in lieu of notice, calculated in accordance with the provisions of Clauses 3.3.3 and 3.3.4 (the payment being referred to as a “Notice Payment”).

		
	3.3.2
	For the avoidance of doubt, the Company is not obliged to exercise its right to terminate the Employment and to make a Notice Payment in accordance with clause 3.3.1 above, and nothing in this Agreement shall prevent the Company from terminating the Employment in breach.  If the Company opts to terminate the Employment in breach, the Executive shall not be entitled to enforce a Notice Payment as a contractual debt nor as liquidated damages (but may have an enforceable claim in damages for breach of contract).

4

		
	3.3.3
	The Notice Payment will be paid less all deductions that are required or permitted by law to be made including in respect of income tax, national insurance contributions and any sums due to the Company or any Group Company.

		
	3.3.4
	Subject to the terms of Clause 3.4, the Notice Payment will consist of a sum equivalent to the Basic Salary which the Executive would have received in respect of any notice period outstanding on the Termination Date, but will exclude any bonus, commission share of profit, pension contributions and any other benefits (including any benefits derived from any Share Incentives) that she would have received or would have accrued to her during that period.

		
	3.3.5
	The Notice Payment is in full and final settlement of all and any rights and claims that the Executive may have against the Company arising out of the termination of her employment (including both contractual and statutory employment claims), excluding any amounts accrued and due to the Executive on the Termination Date. The Executive agrees to waive, release and discharge any and all such rights and claims and acknowledges that it is a condition of the payment of the Notice Payment that she will execute a settlement agreement (and any other documents reasonably required by the Company) in a form reasonably acceptable to the Company in order to give effect to the release and waiver in this Clause 3.3.

		
	3.4
	Payment in instalments

		
	3.4.1
	The Company may, at its sole discretion and subject to the terms of Clause 3.4.2, pay the Notice Payment in equal monthly instalments over a period of twelve months (the “Instalment Period”), the first instalment payable at the end of the month in which the Termination Date occurs.

		
	3.4.2
	If the Executive commences alternative employment during the Instalment Period then the gross instalments of Notice Payment payable after that date will be reduced by a sum equal to the gross amount of the Executive’s basic salary from the alternative employment.

		
	3.4.3
	If the Executive obtains alternative employment that is to commence during the Instalment Period she will immediately advise the Company of that fact and of her gross monthly salary from that employment.  If the Executive fails to comply with this obligation, then from the date the Executive commences alternative employment, the Executive shall have no further entitlement to any payment of Notice Payment.  

		
	4.
	HOURS AND PLACE OF WORK

		
	4.1
	Hours of work

The Executive agrees that she shall work normal business hours together with such additional hours as are necessary for the proper performance of her duties. No payment will be made for any additional hours worked by the Executive.
		
	4.2
	Working Time Regulations

		
	4.2.1
	The Executive has autonomous decision making powers. The duration of her working time is not measured or predetermined. 

		
	4.3
	Place of work

		
	4.3.1
	The Executive’s place of work, on her obtainment of the necessary work permit and visa according to the UK immigration legislation, will initially be at the Company’s offices at 20 Eastbourne Terrace, W2 6LG London, but the Company may require the Executive to work at any other location within or outside the UK for such periods as the Company may from time to time require. The Executive will be given reasonable notice of any change in her permanent place of work.

5

		
	4.3.2
	The Executive will not be required to be absent from the United Kingdom for a period exceeding one month at any one time.

		
	5.
	SCOPE OF THE EMPLOYMENT

		
	5.1
	Duties of the Executive

During the Employment the Executive shall:
		
	(a)
	undertake and carry out to the best of her ability such duties and exercise such powers in relation to the Group’s business as may from time to time be assigned to or vested in her by the Board including where those duties require the Executive to work for any Group Company;

		
	(b)
	in the discharge of those duties and the exercise of those powers observe and comply with all lawful resolutions, regulations and directions from time to time made by, or under the authority of, the Board and promptly upon request, give a full account to the Board or a person duly authorised by the Board of all matters with which she is involved. She will provide the information in writing if requested;

		
	(c)
	comply with the Articles of Association (as amended from time to time) of any Group Company of which she is a director;

		
	(d)
	ensure compliance with the UK Corporate Governance Code, as applicable from time to time;

		
	(e)
	act in accordance with all statutory, fiduciary and common law duties that she owes to the Company and any Group Company;

		
	(f)
	refrain from doing anything that would cause her to be disqualified from acting as a director;

		
	(g)
	use reasonable endeavours to do, or refrain from doing, such things as are necessary or expedient to ensure compliance by herself and any Group Company with applicable law and regulations and all other regulatory authorities relevant to any Group Company and any codes of practice issued by any Group Company (as amended from time to time);

		
	(h)
	unless prevented by ill-health, holidays or other unavoidable cause, devote the whole of her working time, attention and skill to the discharge of her duties under this Agreement; 

		
	(i)
	faithfully and diligently perform her duties and at all times use her best endeavours to promote and protect the interests of the Group; 

		
	(j)
	promptly disclose to the Board, to the extent of the Executive’s knowledge thereof, full details of any wrongdoing by the Executive or any other employee of any Group Company where that wrongdoing is material to that employee’s employment by the relevant company or to the interests or reputation of any Group Company;

		
	(k)
	not incur on behalf of the Company or any Group Company any capital expenditure in excess of such sum as may be authorised from time to time by resolution of the Board; and

		
	(l)
	not enter into on behalf of the Company or any Group Company any commitment, contract or arrangement which is otherwise than in the normal course of the Company's 

6

or the relevant Group Company's business or is outside the scope of her normal duties or authorisations or is of an unusual or onerous or long-term nature. 
		
	5.2
	Directorships and Directors and Officers insurance

		
	5.2.1
	The Executive may be required to act as a director of the Company and other Group Companies (either executive or non-executive) as the Board requires from time to time. The Company reserves the right on giving written notice to the Executive to terminate any office of directorship immediately at any time.

		
	5.2.2
	The Company shall for the duration of the Employment and for a period of not less than six calendar years following the Termination Date, maintain directors’ and officers’ insurance for the benefit of the Executive in respect of those liabilities which she may incur as a director or officer of the Company or any Group Company and for which such insurance is normally available.

		
	5.3
	Right to suspend duties and powers 

		
	5.3.1
	The Company reserves the right in its absolute discretion to suspend all or any of the Executive’s duties and powers on terms it considers expedient or to require her to perform only such duties, specific projects or tasks as are assigned to her expressly by the Company (including the duties of another position of equivalent status) in any case for such period or periods and at such place or places (including, without limitation, the Executive’s home) as the Company in its absolute discretion deems necessary (the “Garden Leave”).  During any period of Garden Leave the terms and conditions set out in this Agreement shall continue to apply to the Executive.

		
	5.3.2
	The Company may, at its sole discretion, require that during the Garden Leave the Executive shall not:

		
	(a)
	enter or attend the premises of the Company or any Group Company;

		
	(b)
	contact or have any communication with any client or prospective client or supplier of the Company or any Group Company in relation to the business of the Company or any Group Company;

		
	(c)
	contact or have any communication with any employee, officer, director, agent or consultant of the Company or any Group Company in relation to the business of the Company or any Group Company; 

		
	(d)
	remain or become involved in any aspect of the business of the Company or any Group Company except as required by such companies; or

		
	(e)
	work either on her own account or on behalf of any other person.

		
	5.3.3
	During Garden Leave, the Executive will continue to receive her Basic Salary and benefits but will not accrue any bonus, commission or share of profit. 

		
	5.3.4
	For the avoidance of doubt, the Company may exercise its powers under this Clause 5.3 at any time during the Employment including after notice of termination has been given by either party. 

		
	5.4
	Joint appointments

The Company shall be at liberty to appoint any other person or persons to act jointly with the Executive in any position to which she may be assigned from time to time.

7

		
	6.
	REMUNERATION

		
	6.1
	Basic Salary

		
	6.1.1
	During the Employment the Company shall pay the Executive a Basic Salary of not less than £300,000 per annum. The Basic Salary shall accrue from day to day and be payable by credit transfer in equal monthly instalments in arrears on or around the last day of each calendar month or otherwise as arranged from time to time.

		
	6.1.2
	The Basic Salary shall be inclusive of all director’s fees (if any) to which the Executive may become entitled including all remuneration and director’s fees in respect of services rendered by the Executive to any Group Company.

		
	6.2
	Salary review

The Basic Salary shall be reviewed annually, the first review to take effect following the first Compensation Committee quarterly meeting of each calendar year commencing in 2018, however the Compensation Committee is not obliged to increase the Basic Salary at any review.
		
	6.3
	Discretionary bonus

		
	6.3.1
	The Company will, subject to the approval of the Compensation Committee, pay the Executive a bonus in respect of each financial year of the Company (the “Bonus”). The Executive’s target bonus is a sum equal to 55% of her Basic Salary for that financial year. The terms and amount of this bonus (and whether it is paid in cash or in other forms, such as shares or share options) will be approved from time to time and notified to the Executive by the Compensation Committee in its sole discretion.

		
	6.3.2
	The actual amount of any Bonus payable will be determined by reference to the Compensation Committee in its sole discretion and will be determined by the achievement of Company performance objectives or personal performance objectives or both Company and personal performance objectives. The Board will determine appropriate performance targets at the beginning of each financial year. The Bonus will be paid by the Company after receipt by it of the audited financial statements of the Company for the financial year in question. 

		
	6.3.3
	The Bonus will only be paid if the Executive is in Employment (and has not received or served notice of termination of employment) at the date the Bonus is due for payment. Upon the termination of the Executive’s employment or (if earlier) upon either party giving notice under Clause 3 or the Company exercising its rights under Clause 18, the Executive will have no rights as a result of this Agreement or any alleged breach of it to any compensation under or in respect of any Bonus. For the avoidance of doubt, the Bonus will not accrue, nor will the Executive have any legitimate expectation as to the size or form of the Bonus, until the Company pays it to him. There are no circumstances whether in reliance on express or implied terms or otherwise where the Executive can require pay out of a particular sum or payment in a particular form or claim compensation for loss of such a Bonus.

		
	6.4
	Corporate Governance

All payments and/or benefits payable to the Executive are subject to and conditional upon: (i) the terms of applicable law, regulation and governance codes that regulate or govern executive pay from time to time; and (ii) the consent of the shareholders of the Company, as appropriate as determined by the Board (together “Remuneration Governance”).  The Company reserves the right to amend, reduce, hold back, defer, claw back and alter the structure of any payments and benefits payable to the Executive in order to comply with Remuneration Governance.

8

		
	7.
	EXPENSES

		
	7.1
	Out-of-pocket expenses

The Company shall reimburse to the Executive (against receipts or other appropriate evidence as the Board may require) the amount of all out-of-pocket expenses reasonably and properly incurred by her in the proper discharge of her duties hereunder to the extent that such expenses are incurred in accordance with the Company’s business expenses policy from time to time.
		
	7.2
	Company credit/charge cards

In the event that the Company issues a Company sponsored credit or charge card to the Executive, she shall use such card only for expenses reimbursable under Clause 7.1 and shall return it to the Company when so requested and in any event immediately on termination of the Employment howsoever arising.
		
	8.
	DEDUCTIONS

The Executive agrees that the Company may deduct from any sums due to her under this Agreement any sums due by her to the Company including, without limitation, any debits to her Company credit or charge card not authorised by the Company, the Executive’s pension contributions (if any), any overpayments, loans or advances made to her by the Company, the cost of repairing any damage or loss to the Company’s property caused by her and any losses suffered by the Company as a result of any negligence or breach of duty by the Executive.
		
	9.
	COMPANY CAR

		
	9.1
	Car allowance

The Executive may use her own vehicle or rent a vehicle for the Company’s business, in which case she will be paid a car allowance of £1,100 per month towards this cost. The car allowance will be subject to deduction of tax and National Insurance contributions.
		
	10.
	PENSION SCHEME

		
	10.1
	The Scheme

		
	10.1.1
	The Executive is eligible to join the Company’s pension scheme (the “Scheme”), subject to its rules in force from time to time. Details of the Scheme are available from the Company. Pursuant to the Scheme, the Company will make an annual contribution to the Scheme in respect of the Executive equal to 15% of the Executive’s annual gross salary and bonus payments, excluding other payments such as the car allowance. The contribution shall be paid to the Scheme at such time or times during the year as the Company shall decide at its discretion. 

		
	10.1.2
	Subject to Clause 10.2.1, when the Company becomes subject to the employer duties in the Pensions Act 2008, the Company reserves the right to amend the Executive’s pension arrangements in place in its absolute discretion. The Company will inform the Executive of any changes to her pension arrangements at that time. 

		
	10.1.3
	A copy of the current explanatory booklet giving details of the Scheme is available from the HR department. 

		
	10.1.4
	The Scheme is not a contracted-out scheme for the purposes of the Pension Schemes Act 1993.  

		
	10.2
	Company’s right to amend and terminate

9

		
	10.2.1
	The Company may at any time terminate the Scheme or the Executive’s membership of it subject to providing her with membership of an equivalent pension scheme.

		
	11.
	OTHER INSURANCE & BENEFITS

		
	11.1
	Health Care Scheme

Without prejudice to the terms of Clauses 3 and 18, the Executive (and her spouse) shall be entitled during the Employment, to participate in any Health Care Scheme subject to the following terms and conditions:
		
	(a)
	the Executive’s (and her family’s participation as applicable) is subject to the Company’s rules regarding eligibility and the rules, terms and conditions of the relevant Scheme, both in force from time to time, copies of which shall be available from Human Resources;

		
	(b)
	the Company reserves the right to terminate the Executive’s (or her spouse’s) or the Company’s participation in any of the Schemes, substitute a new scheme for an existing Scheme and/or alter the level or type of benefits available under any Scheme;

		
	(c)
	if a scheme provider (e.g. an insurance company or pensions provider) refuses for any reason (whether under its own interpretation of the rules, terms and conditions of the relevant insurance policy or otherwise) to accept a claim and/or provide the relevant benefit(s) to the Executive (or her spouse) under the applicable Scheme, the Company shall not be liable to provide (or compensate the Executive for the loss of) such benefit(s) nor shall it be obliged to take action against the provider to enforce any rights under the Scheme;

		
	(d)
	the fact that the termination of the Employment under Clauses 3 and 18 may result in the Executive or her spouse ceasing to be eligible to receive or continue to receive benefits under any Scheme does not remove the Company’s right to terminate the Employment; and

		
	(e)
	the Executive’s acceptance of such variations to her terms and conditions of employment as may from time to time be required by the Company.

		
	11.2
	Payments 

		
	11.2.1
	All payments under the Schemes will be subject to the deductions required by law.

		
	11.2.2
	Where payments are made under a PHI scheme or critical illness scheme, all other payments or benefits provided to or in respect of the Executive will cease from the start of those payments (if they have not done so already), unless the Company is fully reimbursed by the relevant insurance provider for the cost of providing the benefit. 

		
	11.3
	Medical examinations

At any reasonable time during the Employment the Company may require the Executive to undergo a medical examination by a medical practitioner appointed by the Company and at the Company’s expense. The Executive will consent to such examination and to the results being made available to the Company.
		
	12.
	RELOCATION PACKAGE

		
	12.1
	Relocation allowance 

10

A one-time “Relocation Allowance” of £15,000, subject to taxes and National Insurance contribution, will be provided to the Employee to cover miscellaneous relocation expenses not covered elsewhere in the policy. 
The Executive is encouraged to retain receipts for relocation expenses to reduce their taxability at filing time. 
		
	12.2
	Pre-departure Visits 

In addition to the Relocation Allowance, the Company will reimburse the Employee and her spouse for reasonable expenses related to a visit the United Kingdom once to secure housing, schooling, and become acquainted with the new living environment. All travel should be booked and expensed per the Company’s corporate travel and expense guidelines. 
		
	12.3
	Two Years of Tax Assistance

In addition to the Relocation Allowance, the Company will provide the Executive with tax consultation through a professional tax services firm prior to relocation and after arrival in the United Kingdom for a period of two tax years. The intent of this consultation is to explain tax implications resulting from localization, to review the Executive’s expected tax responsibilities associated with it and to prepare any applicable related US and UK tax filings. The tax services firm will support the Executive on tax compliance in the UK and in the United States, if desired, for the first two tax years following the Commencement Date.
		
	12.4
	Immigration Support

In addition to the Relocation Allowance, the Company will provide immigration assistance to the Executive through an immigration vendor and will cover the cost of obtaining required entry and work documentation for the Executive, as well as required entry documentation for the Executive’s approved accompanying family members prior to relocation. This includes passports and any required medical exams or other documentation required by immigration authorities. 
The Executive is responsible for maintaining valid immigration and travel documents going forward, at the Company’s expense.
		
	12.5
	Travel to the new employment country (the United Kingdom)

In addition to the Relocation Allowance, the Company will provide the Executive and her accompanying dependents with travel to the United Kingdom for purposes of relocation according to the Company’s corporate travel guidelines.  
		
	12.6
	Temporary Living

In addition to the Relocation Allowance, the Company will support reasonable temporary living expenses for up to sixty days in the London area while the Executive and the Executive’s family are in between permanent housing. Hotel accommodation, or an apartment at reasonably equivalent cost, is provided. Temporary living expenses are covered in accordance with the Company’s travel and expense guidelines.
		
	12.7
	Housing

In addition to the Relocation Allowance, within the 18-month period following the Executive’s starting date, the Company agrees to provide relocation assistance to the Executive, including assistance with the sale of the Executive’s principal residence at 5335 Irving Ave South, Minneapolis, MN 55419, U.S.A., pursuant to the terms of the Managed Executive Plan provided 

11

by the Company’s vendor, Orion Mobility; packing, shipping to the United Kingdom and unpacking Executive’s household possessions at the Company’s expense; and reimbursement of expenses incurred in connection with the purchase of a principal residence in the United Kingdom. If the Executive is compelled to pay income taxes on any of the foregoing relocation benefits provided by the Company, the Company will pay to the Executive such additional amounts as are necessary to ensure receipt by the Executive of the full amount that the Executive would have received but for the income taxes payable by the Executive or by the Company on her behalf.
		
	13.
	HOLIDAYS

		
	13.1
	The holiday year

The Company’s holiday year runs from 1st January to 31st December. Holidays can only be taken with the prior permission of the Chief Administrative Officer of the Company.
		
	13.2
	Annual entitlement

		
	13.2.1
	The Executive’s annual entitlement to paid holidays is to those public or customary holidays recognised by the Company in any holiday year of which there are eight in total and in addition 24 contractual days holiday. In addition, the Executive shall be entitled to one additional day of holiday per year of continuous service (assessed as at 1st January each year) up to a maximum of five additional days.

		
	13.2.2
	Entitlement to contractual holidays is accrued pro rata throughout the holiday year. The Executive will be entitled to take public and customary holidays on the days that they are recognised by the Company during the holiday year.

		
	13.2.3
	The Executive is not entitled to carry any unused holiday entitlement forward to the next holiday year without the permission of the Company.

		
	13.3
	Holiday entitlement on termination

		
	13.3.1
	Upon notice of termination of the Employment being served by either party, the Company may require the Executive to take any unused holidays accrued in the holiday year in which the termination takes place at that time during any notice period. Alternatively, the Company may, at its discretion, on termination of the Employment, make a payment in lieu of accrued contractual holiday entitlement.

		
	13.3.2
	The Executive will be required to make a payment to the Company in respect of any holidays taken in excess of her holiday entitlement accrued at the Termination Date.  Any sums so due may be deducted from any money owing to the Executive by the Company.

		
	14.
	ABSENCE 

		
	14.1
	Absence due to sickness or injury

		
	14.1.1
	If the Executive is absent from work due to sickness or injury she shall:

		
	(a)
	immediately inform the Company of her sickness or injury; and

		
	(b)
	In respect of absence due to sickness, injury or accident that continues for more than seven consecutive days (including weekends) the Executive must provide the Company with a note of fitness to work stating the reason for the absence.  Thereafter notes of 

12

fitness to work must be provided to the Company to cover the remainder of the period of continuing sickness absence.
		
	14.1.2
	Failure to follow the requirements referred to in Clause 14.1.1 may result in disciplinary action and loss of Statutory Sick Pay and/or Company Sick Pay pursuant to Clause 14.2.

		
	14.2
	Payment of salary during absence 

		
	14.2.1
	Subject to the Executive complying with the terms of Clause 14.1.1, the Company may, at its sole discretion, continue to pay Basic Salary during any period of absence due to sickness or injury for up to a maximum of six months in any period of twelve consecutive months  (the twelve month period being referred to as the “Entitlement Period”) unless the Employment is terminated in terms of Clauses 3 or 18.1. The first Entitlement Period will begin on the first day of absence and any subsequent Entitlement Period will start on the first day of any absence occurring outside an enduring Entitlement Period.

		
	14.2.2
	Payment of the Basic Salary in terms of Clause 14.2.1 shall be made less: 

		
	(a)
	an amount equivalent to any Statutory Sick Pay payable to the Executive;

		
	(b)
	any sums which may be received by the Executive under any insurance policy effected by the Company; and

		
	(c)
	any other benefits or sums which the Executive receives, such as under a PHI or other insurance scheme, in terms of the Employment or under any relevant legislation.

		
	14.3
	Absence caused by third party negligence

If the Executive’s absence is caused by the negligence of a third party in respect of which damages are recoverable, then all sums paid by the Company during the period of absence in terms of Clause 14.2 shall constitute loans to the Executive who shall:
		
	(a)
	notify the Company immediately of all the relevant circumstances and of any claim, compromise, settlement or judgment made or awarded; and

		
	(b)
	if the Company so requires, refund to it an amount determined by the Company, not exceeding the lesser of:

		
	(i)
	the amount of damages recovered by her in respect of loss of earnings during the period of absence under any compromise, settlement or judgment; and

		
	(ii)
	the sums advanced to her by the Company in respect of the period of incapacity.

		
	15.
	RESTRICTIONS DURING EMPLOYMENT 

		
	15.1
	Disclosure of other interests

The Executive shall disclose to the Board any interest of her own (or that of her partner or of any child of her or of her partner under eighteen years of age):
		
	(a)
	in any trade, business or occupation whatsoever which is in any way similar to any of those in which the Company or any Group Company is involved; and

		
	(b)
	in any trade, business or occupation carried on by any supplier or customer of the Company or any Group Company whether or not such trade, business or occupation is conducted for profit or gain.

13

		
	15.2
	Restrictions on other activities and interests of the Executive

		
	15.2.1
	During the Employment the Executive shall not at any time, without the prior written consent of the Board, either alone or jointly with any other person, carry on or be directly or indirectly employed, engaged, concerned or interested in any business, prospective business or undertaking other than a Group Company.  Nothing contained in this Clause 15.2.1 shall preclude the Executive from being a Minority Holder unless the holding is in a company that is a direct business competitor of the Company or any Group Company in which case, the Executive shall obtain the prior consent of the Board to the acquisition or variation of such holding.

		
	15.2.2
	If the Executive, with the consent of the Board, accepts any other appointment, she must keep the Company accurately informed of the amount of time she spends working under that appointment.

		
	15.3
	Transactions with the Company

Subject to any regulations issued by the Company, the Executive shall not be entitled to receive or obtain directly or indirectly any discount, rebate, commission or any other form of gift or gratuity (any of these referred to as a “Gratuity”) as a result of the Employment or any sale or purchase of goods or services effected or other business transacted (whether or not by him) by or on behalf of the Company or any Group Company and if she (or any person in which she is interested) obtains any Gratuity she shall account to the Company for the amount received by her (or a due proportion of the amount received by the person having regard to the extent of her interest therein).
		
	15.4
	Dealing in securities

The Executive shall comply with every rule of law (including but not limited to the insider dealing provisions contained in Part V of the Criminal Justice Act 1993), to the extent applicable to the Company, the UK Financial Conduct Authority’s listing rules’ Model Code for transactions in securities by directors of listed companies, certain employees and persons connected with them and every regulation of the Company for the time being in force in relation to dealings in shares or other securities of the Company or any Group Company.  Under Rule 4 of the Model Code, the person to whom notice should be given and from whom acknowledgement must be received before the Executive may deal in securities shall be the Company Secretary of the Company from time to time or such other person as shall be notified to the Executive.  The Executive also acknowledges that under the provisions of the Model Code the Executive must seek to ensure compliance with the Model Code by persons connected with the Executive (within the meaning of section 96B and Schedule 11B of the Financial Services and Markets Act 2000) including, without limitation, the Executive's spouse and dependent children, and by investment managers acting on the Executive’s behalf or on behalf of connected persons. The Executive undertakes to procure that dealings by or on behalf of such persons are in compliance with the Model Code.
		
	15.5
	Compliance with the code on Corporate Governance

The Executive shall comply, to the extent that the Board considers appropriate for a company the size of the Company, with the provisions of “The UK Corporate Governance Code” a corporate governance code issued by the Financial Reporting Council (as amended from time to time).
		
	16.
	CONFIDENTIALITY AND COMPANY DOCUMENTS

		
	16.1
	Restrictions on disclosure and use of Confidential Information

14

The Executive must not either during the Employment (except in the proper performance of her duties) or at any time (without limit) after the Termination Date:
		
	(a)
	divulge or communicate to any person;

		
	(b)
	use for her own purposes or for any purposes other than those of the Company or any Group Company; or

		
	(c)
	through any failure to exercise due care and diligence, cause any unauthorised disclosure of;

any Confidential Information. The Executive must at all times use her best endeavours to prevent publication or disclosure of any Confidential Information.  These restrictions shall cease to apply to any information which shall become available to the public generally otherwise than through the default of the Executive.
		
	16.2
	Protection of Company documents and materials

All notes, records, lists of customers, suppliers and employees, correspondence, computer and other discs or tapes, data listings, codes, keys and passwords, designs, drawings and other documents or material whatsoever (whether made or created by the Executive or otherwise and in whatever medium or format) relating to the business of the Company or any Group Company or any of its or their clients (and any copies of the same):
		
	(a)
	shall be and remain the property of the Company or the relevant Group Company or client; and

		
	(b)
	shall be handed over by the Executive to the Company or the relevant Group Company or client on demand by the Company and in any event on the termination of the Employment;

provided that following the termination of the Employment, the Executive shall be provided with reasonable access to Board Minutes and agendas of the Company or any Group Company relating to a period during which she was a director of the Company or such Group Company that shall nevertheless remain confidential.
		
	16.3
	Exceptions to confidentiality restrictions

		
	16.3.1
	Nothing in the Agreement prohibits the Executive from reporting possible violations of law or regulation to any governmental agency or entity, including the U.S. Department of Justice, the U.S. Securities and Exchange Commission, the U.S. Congress, and any U.S. agency Inspector General, or making other disclosures that are protected under the whistleblower provisions of U.S. federal law or regulation.  The Executive does not need the prior authorization of the Company or any employee of the Company to make any such reports or disclosures, and the Executive is not required to notify the Company that she has made such reports or disclosures.

		
	16.3.2
	Pursuant to the U.S. Defend Trade Secrets Act of 2016, the Executive and the Company acknowledge that:

		
	(a)
	An individual may not be held criminally or civilly liable under any U.S. federal or state trade secret law for the disclosure of a trade secret that: (a) is made (i) in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney; and (ii) solely for the purpose of reporting or investigating a suspected violation of law; or (b) is made in a complaint or other document that is filed under seal in a lawsuit or other proceeding.

15

		
	(b)
	Further, an individual who files a lawsuit for retaliation by an employer for reporting a suspected violation of law may disclose the employer's trade secrets to the attorney and use the trade secret information in the court proceeding if the individual: (a) files any document containing the trade secret under seal; and (b) does not disclose the trade secret, except pursuant to court order.

		
	17.
	INVENTIONS AND OTHER WORKS

		
	17.1
	Executive to further interests of the Company

The Company and the Executive agree that the Executive may make or create Works during the Employment and agree that in this respect the Executive is obliged to further the interests of the Company and any Group Company.
		
	17.2
	Disclosure and ownership of Works

The Executive must immediately disclose to the Company all Works and all Intellectual Property Rights.  Both the Works and all Intellectual Property Rights will (subject to sections 39 to 43 Patents Act 1977) belong to and be the absolute property of the Company or any other person the Company may nominate.
		
	17.3
	Protection, registration and vesting of Works

The Executive shall immediately on request by the Company (whether during or after the Employment) and at the expense of the Company:
		
	(a)
	apply or join with the Company or any Group Company in applying for any Intellectual Property Rights or other protection or registration (“Protection”) in the United Kingdom and in any other part of the world for, or in relation to, any Works;

		
	(b)
	execute all instruments and do all things necessary for vesting all Intellectual Property Rights or Protection when obtained and all right, title and interest to and in the same absolutely and as sole beneficial owner in the Company or such Group Company or other person as the Company may nominate; and

		
	(c)
	sign and execute any documents and do any acts reasonably required by the Company in connection with any proceedings in respect of any applications and any publication or application for revocation of any Intellectual Property Rights or Protection.

		
	17.4
	Waiver of rights by the Executive

The Executive hereby irrevocably and unconditionally waives all rights under Chapter IV Copyright, Designs and Patents Act 1988 and any other moral rights which she may have in the Works, in whatever part of the world such rights may be enforceable including:
		
	(a)
	the right conferred by section 77 of that Act to be identified as the author of any such Works; and

		
	(b)
	the right conferred by section 80 of that Act not to have any such Works subjected to derogatory treatment.

		
	17.5
	Power of Attorney

The Executive hereby irrevocably appoints the Company to be her attorney and in her name and on her behalf to execute any such act and to sign all deeds and documents and generally to use 

16

her name for the purpose of giving to the Company the full benefit of this Clause. The Executive agrees that, with respect to any third parties, a certificate signed by any duly authorised officer of the Company that any act or deed or document falls within the authority hereby conferred shall be conclusive evidence that this is the case.
		
	17.6
	Statutory rights

Nothing in this Clause 17 shall be construed as restricting the rights of the Executive or the Company under sections 39 to 43 Patents Act 1977.
		
	18.
	TERMINATION

		
	18.1
	Termination events

Notwithstanding any other provision of this Agreement, the Company shall be entitled, but not bound, to terminate the Employment with immediate effect by giving to the Executive notice in writing at any time after the occurrence of any one or more of the following events:
		
	(a)
	if the Executive is guilty of any gross misconduct or behaviour which tends to bring herself or the Company or any Group Company into disrepute; or

		
	(b)
	if the Executive commits any material or persistent breach of this Agreement (in the case of a non-material persistent breach, having been given notice in writing of the breach and a reasonable opportunity to rectify the breach) or fails to comply with any reasonable order or direction of the Board; or

		
	(c)
	if the Executive fails to perform her duties to the reasonable satisfaction of the Board (having been given notice in writing of: (i) the areas of underperformance, (ii) the improvements in performance that are reasonably required by the Board; and (iii) a reasonable period of time to make the necessary improvements in performance; or 

		
	(d)
	if she becomes insolvent or bankrupt or compounds with or grants a trust deed for the benefit of her creditors; or

		
	(e)
	if her behaviour (whether or not in breach of this Agreement) can reasonably be regarded as materially prejudicial to the interests of the Company or any Group Company, including if she is found guilty of any criminal offence punishable by imprisonment (whether or not such sentence is actually imposed); or

		
	(f)
	if she has an order made against her disqualifying her from acting as a company director; or

		
	(g)
	if she becomes of unsound mind; or

		
	(h)
	if the Executive is found guilty of a serious breach of the rules or regulations as amended from time to time of the UK Listing Authority (including the Model Code for transactions in securities by directors), or any other regulatory authority relevant to the Company or any Group Company or any code of practice issued by the Company or any Group Company (as amended from time to time).

		
	18.2
	Company’s right to proceed

While the Company will endeavour to deal fairly with allegations against the Executive, it reserves the right to proceed under Clause 18.1 without prior notice and without holding a hearing or inviting any representations from the Executive.

17

		
	18.3
	Termination on resignation as director

If the Executive resigns as a director of the Company or any Group Company (otherwise than at the request of the Company), she shall be deemed to have terminated the Employment with effect from the date of her resignation and the Employment shall terminate at that time, unless the Company agrees with the Executive that the Employment should continue, in which case the Employment may be subject to any terms and conditions stipulated by the Company in its absolute discretion.
		
	18.4
	No damages or payment in lieu of notice

In the event of the Employment being terminated pursuant to Clause 18.1 or 18.3, the Executive shall not be entitled to receive any payment in lieu of notice nor make any claim against the Company or any Group Company for damages for loss of office or termination of the Employment.  Regardless of this, the termination shall be without prejudice to the continuing obligations of the Executive under this Agreement.
		
	19.
	EVENTS UPON TERMINATION

		
	19.1
	Obligations upon termination

Immediately upon the termination of the Employment howsoever arising or immediately at the request of the Board at any time after either the Company or the Executive has served notice of termination of the Employment, the Executive shall:
		
	(a)
	deliver to the Company all Works, materials within the scope of Clause 16.2 and all other materials and property including credit or charge cards, mobile telephone, computer equipment, disks and software, passwords, encryption keys or the like, keys, security pass, letters, stationery, documents, files, films, records, reports, plans and papers (in whatever format including electronic) and all copies thereof used in or relating to the business of the Company or the Group which are in the possession of or under the control of the Executive; 

		
	(b)
	resign (without claim for compensation) as a director and from all other offices held by her in the Company or any Group Company or otherwise by virtue of the Employment.  For the avoidance of doubt, such resignations shall be without prejudice to any claims the Executive may have against the Company or any Group Company arising out of the termination of the Employment; and

		
	(c)
	transfer without payment, to the Company, or as the Company may direct, any shares or other securities held by the Executive as nominee or trustee for the Company or any Group Company;

and should the Executive fail to do so the Company is hereby irrevocably authorised to appoint some person to sign any documents and/or do all things in her name and on her behalf necessary to give effect thereto,
		
	19.2
	Share Incentives

On termination of the Employment, the Executive’s rights with respect to Share Incentives granted to the Executive during the Employment shall be governed by the terms of the LivaNova Plc 2015 Incentive Award Plan and the underlying award agreement for each such Share Incentive.
		
	20.
	RESTRICTIONS AFTER TERMINATION

18

		
	20.1
	Definitions

Since the Executive is likely to obtain Confidential Information in the course of the Employment and personal knowledge of and influence over suppliers, customers, clients and employees of the Company and Group Companies, the Executive hereby agrees with the Company that in addition to the other terms of this Agreement and without prejudice to the other restrictions imposed upon her by law, she will be bound by the covenants and undertakings contained in Clauses 20.2 to 20.5.  In this Clause20, unless the context otherwise requires:
	
		
	“Customer”
	means any person to which the Company distributed, sold or supplied Restricted Products or Restricted Services during the Relevant Period and with which, during that period either the Executive, or any employee under the direct or indirect supervision of the Executive, had material dealings in the course of the Employment, but always excluding therefrom, any division, branch or office of such person with which the Executive and/or any such employee had no dealings during that period;

	“Prospective Customer”
	means any person with which the Company had discussions during the Relevant Period regarding the possible distribution, sale or supply of Restricted Products or Restricted Services and with which during such period the Executive, or any employee who was under the direct or indirect supervision of the Executive, had material dealings in the course of the Employment, but always excluding therefrom any division, branch or office of that person with which the Executive and/or any such employee had no dealings during that period;

	“Relevant Period”
	means: (i) where the Employment is continuing, the period of the Employment; and (ii) where the Employment has terminated, the period of twelve months immediately preceding the Termination Date;

	“Restricted Area” 
	means:
(a)    the United Kingdom; and
(b)    any other country in the world where, on the Termination Date, the Company dealt in Restricted Products or Restricted Services;

	“Restricted Employee”
	means any person who was a director, employee or consultant of the Company at any time within the Relevant Period who by reason of that position and in particular her seniority and expertise or knowledge of Confidential Information or knowledge of or influence over the clients, customers or contacts of the Company is likely to cause damage to the Company if she were to leave the employment of the Company and become employed by a competitor of the Company;

	“Restricted Period”
	means the period commencing on the Termination Date and, subject to the terms of Clause 20.4, continuing for twelve months;

	“Restricted Products”
	means any product, device, equipment or machinery researched into, developed, manufactured, supplied, marketed, distributed or sold by the Company and with which the duties of the Executive were materially concerned or for which she was responsible during the Relevant Period, or any products, equipment or machinery of the same type or materially similar to those products, equipment or machinery;

19

	
		
	“Restricted Services”
	means any services (including but not limited to technical and product support, technical advice and customer services) researched into, developed or supplied by the Company and with which the duties of the Executive were materially concerned or for which she was responsible during the Relevant Period, or any services of the same type or materially similar to those services;

	“Supplier”
	means any supplier, agent, distributor or other person who, during the Relevant Period was in the habit of dealing with the Company and with which, during that period, the Executive, or any employee under the direct or indirect supervision of the Executive, had material dealings in the course of the Employment.

		
	20.2
	Restrictive covenants

Both during the Employment and during the Restricted Period, the Executive will not, without the prior written consent of the Company (such consent not to be unreasonably withheld), whether by herself, through her employees or agents or otherwise and whether on her own behalf or on behalf of any person, directly or indirectly:
		
	(a)
	so as to compete with the Company, solicit business from or canvas any Customer or Prospective Customer in respect of Restricted Products or Restricted Services;

		
	(b)
	so as to compete with the Company, accept orders from, act for or have any business dealings with, any Customer or Prospective Customer in respect of Restricted Products or Restricted Services;

		
	(c)
	within the Restricted Area, be employed or engaged or at all interested (except as a Minority Holder) in that part of a business or person which is involved in the business of researching into, developing, manufacturing, distributing, selling, supplying or otherwise dealing with Restricted Products or Restricted Services, if the business or person is or seeks to be in competition with the Company. For the purposes of this sub-Clause, acts done by the Executive outside the Restricted Area shall nonetheless be deemed to be done within the Restricted Area where their primary purpose is to distribute, sell, supply or otherwise deal with Restricted Products or Restricted Services in the Restricted Area;

		
	(d)
	solicit or induce or endeavour to solicit or induce any person who was a Restricted Employee (and with whom the Executive had dealings during the Relevant Period) to cease working for or providing services to the Company, whether or not any such person would thereby commit a breach of contract;

		
	(e)
	employ or otherwise engage any Restricted Employee in the business of researching into, developing, manufacturing, distributing, selling, supplying or otherwise dealing with Restricted Products or Restricted Services if that business is, or seeks to be, in competition with the Company; or

		
	(f)
	solicit or induce or endeavour to solicit or induce any Supplier to cease to deal with the Company and shall not interfere in any way with any relationship between a Supplier and the Company.

		
	20.3
	Application of restrictive covenants to other Group Companies

Clause 20.2 shall also apply as though references to the “Company” in Clauses 20.1 and 20.2 include references to each Group Company in relation to which the Executive has in the course 

20

of the Employment or by reason of rendering services to or holding office in such Group Company:
		
	(a)
	acquired knowledge of its products, services, trade secrets or Confidential Information; or

		
	(b)
	had personal dealings with its Customers or Prospective Customers; or

		
	(c)
	supervised directly or indirectly employees having personal dealings with its Customers or Prospective Customers; 

but so that references to the “Company” shall for this purpose be deemed to be references to the relevant Group Company.  The obligations undertaken by the Executive pursuant to this Clause 20.3 shall, with respect to each Group Company, constitute a separate and distinct covenant in favour of and for the benefit of each Group Company and which shall be enforceable either by the particular Group Company or by the Company on behalf of the Group Company and the invalidity or unenforceability of any such covenant shall not affect the validity or enforceability of the covenants in favour of any other Group Company. 
		
	20.4
	Effect of suspension on Restricted Period

If the Company exercises its right to suspend the Executive’s duties and powers under Clause 5.3 after notice of termination of the Employment has been given, the aggregate of the period of the suspension and the Restricted Period shall not exceed twelve months and if the aggregate of the two periods would exceed twelve months, the Restricted Period shall be reduced accordingly. 
		
	20.5
	Further undertakings

The Executive hereby undertakes to the Company that she will not at any time:
		
	(a)
	during the Employment or after the Termination Date engage in any trade or business or be associated with any person engaged in any trade or business using any trading names used by the Company or any Group Company including the name(s) or incorporating the word(s) “LivaNova”, “Cyberonics” or “Sorin”; 

		
	(b)
	after the Termination Date make any public statement in relation to the Company or any Group Company or any of their officers or employees; or

		
	(c)
	after the Termination Date represent or otherwise indicate any association or connection with the Company or any Group Company or for the purpose of carrying on or retaining any business represent or otherwise indicate any past association with the Company or any Group Company.

		
	20.6
	Severance

The restrictions in this Clause 20 (on which the Executive has had the opportunity to take independent advice, as the Executive hereby acknowledges) are separate and severable restrictions and are considered by the parties to be reasonable in all the circumstances.  It is agreed that if any such restrictions, by themselves, or taken together, shall be adjudged to go beyond what is reasonable in all the circumstances for the protection of the legitimate interests of the Company or a Group Company but would be adjudged reasonable if some part of it were deleted, the relevant restriction or restrictions shall apply with such deletion(s) as may be necessary to make it or them valid and enforceable.

21

		
	21.
	RECONSTRUCTION AND AMALGAMATIONS

If the Company undergoes any process of reconstruction or amalgamation (whether or not involving the liquidation of the Company) and the Executive is offered employment by the successor or proposed successor to the Company or any Group Companies on terms which as a whole are no less favourable than those under this Agreement whether as to duties, responsibilities, remuneration or otherwise and the Executive does not accept the offer within one month of it being made, then the Executive shall have no claim against the Company or the successor to the Company in respect of termination of this Agreement and the Employment.
		
	22.
	DISCIPLINARY AND GRIEVANCE PROCEDURE

		
	22.1
	Disciplinary procedures and grievance procedures 

		
	22.1.1
	Any disciplinary action taken in connection with the Employment will usually be taken in accordance with the Company’s normal disciplinary procedures (which are workplace rules and not contractually binding) a copy of which is available from Human Resources. 

		
	22.1.2
	If the Executive wishes to obtain redress of any grievance relating to the Employment or is dissatisfied with any reprimand, suspension or other disciplinary step taken by the Company, she should follow the procedures set out in the Company’s grievance policy, a copy of which is available from Human Resources. 

		
	23.
	GENERAL

		
	23.1
	Provisions which survive termination

Any provision of this Agreement which is expressed or intended to have effect on, or to continue in force after, the termination of this Agreement shall have such effect, or, as the case may be, continue in force, after such termination.
		
	23.2
	No collective agreements

There are no collective agreements that directly affect the terms and conditions of the Employment.
		
	24.
	DATA PROTECTION AND PRIVACY

		
	24.1
	Data Protection

The Executive acknowledges and agrees that the Company is permitted to hold personal information (including sensitive personal data) about the Executive as part of its personnel and other business records and may use such information in the course of the Company’s or the Group’s business.  The Executive agrees that the Company may disclose such information to third parties in the event that such disclosure is in the Company’s view required for the proper conduct of the Company’s business or that of any Group Company.  This Clause 24.1 applies to information held, used or disclosed in any medium.
		
	24.2
	Privacy

All communications, whether by telephone, email, fax, or any other means, which are transmitted, undertaken or received using the Company’s IT or communications systems (“Company Systems”) or on Company premises will be treated by the Company as work related.  The Company Systems are provided for work use only.  The Company may intercept, record and 

22

monitor all communications made by the Executive and her use of the Company Systems, without further notice.  The Executive should not regard any communications or use as being private.
		
	25.
	AMENDMENTS, WAIVERS AND REMEDIES

		
	25.1
	Amendments

No amendment or variation of this Agreement or any of the documents referred to in it (other than an alteration in the Basic Salary) shall be effective unless it is in writing and signed by or on behalf of each of the parties. 
		
	25.2
	Waivers and remedies cumulative

		
	25.2.1
	The rights of each party under this Agreement:

		
	(a)
	may be exercised as often as necessary;

		
	(b)
	are cumulative and not exclusive of its rights under the general law; and

		
	(c)
	may be waived only in writing and specifically.

		
	25.2.2
	Delay in exercising or non-exercise of any right is not a waiver of that right.

		
	25.2.3
	Any right of rescission conferred upon the Company by this Agreement shall be in addition to and without prejudice to all other rights and remedies available to it.

		
	26.
	ENTIRE AGREEMENT

		
	26.1.1
	This Agreement and the documents referred to in it constitute the entire agreement and understanding of the parties and supersede and extinguish all previous agreements, promises, assurances, warranties, representations and understandings between the parties, whether written or oral, relating to the subject matter of this Agreement.

		
	26.1.2
	Each party acknowledges that in entering into this Agreement it does not rely on, and shall have no remedies in respect of, any statement, representation, assurance or warranty (whether made innocently or negligently) that is not set out in this Agreement.

		
	26.1.3
	Each party agrees that it shall have no claim for innocent or negligent misrepresentation or negligent misstatement based on any statement in this Agreement.

		
	26.1.4
	Nothing in this Clause shall limit or exclude any liability for fraud.

		
	27.
	NO OUTSTANDING CLAIMS

The Executive hereby acknowledges that she has no outstanding claims of any kind against the Company or any Group Company (other than in respect of remuneration and expenses due to the date of this Agreement but not yet paid).
		
	28.
	SEVERANCE

If any provision of this Agreement is or becomes illegal, invalid or unenforceable in any jurisdiction, that shall not affect:
		
	(a)
	the legality, validity or enforceability in that jurisdiction of any other provisions of this Agreement; or

23

		
	(b)
	the legality, validity or enforceability in any other jurisdiction of that or any other provision of this Agreement.

		
	29.
	NOTICE

		
	29.1
	Notices and deemed receipt

Any notice hereunder shall be given by either party to the other either personally to the Executive or the Company Secretary (as appropriate) or sent in the case of the Company, to its registered office for the time being and, in the case of the Executive, to her address last known to the Company.  Any such notice shall be in writing and shall be given by letter delivered by hand or sent by first class prepaid recorded delivery or registered post or by facsimile transmission.  Any such notice shall be deemed to have been received:
		
	(a)
	if delivered personally, at the time of delivery;

		
	(b)
	in the case of pre-paid recorded delivery or registered post, 48 hours from the date of posting; 

		
	(c)
	in the case of registered airmail, five days from the date of posting; and

		
	(d)
	in the case of fax or email, at the time of transmission; 

provided that if deemed receipt occurs before 9am on a business day the notice shall be deemed to have been received at 9:00 am on that day and if deemed receipt occurs after 5pm on a business day, or on a day which is not a business day, the notice shall be deemed to have been received at 9:00 am on the next business day.  For the purpose of this Clause, “business day” means any day which is not a Saturday, a Sunday or a public holiday in the place at or to which the notice is left or sent.
		
	30.
	GOVERNING LAW AND JURISDICTION

		
	30.1
	Governing law

This Agreement is governed by and to be construed in accordance with English law.
		
	30.2
	Jurisdiction

Each party hereby submits to the exclusive jurisdiction of the English courts as regards any claim, dispute or matter arising out of or in connection with this Agreement and its implementation and effect.

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IN WITNESS of which this Agreement has been executed and delivered as a deed on the first date written above.

		
	EXECUTED as a Deed
	_________________________________

		
	by LIVANOVA PLC 
	Damien McDonald

acting by Damien McDonald,
Chief Executive Officer,
and a Witness
_________________________________
Witness

		
	Full Name:
	_________________________________

		
	Address:
	_________________________________

_________________________________
_________________________________

EXECUTED as a Deed
		
	By KEYNA P. SKEFFINGTON
	_________________________________

in the presence of:

Witness’s
		
	Signature:
	_________________________________

		
	Full Name:
	_________________________________

		
	Address:
	_________________________________

_________________________________
_________________________________

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