Document:

EX-4.1

 Exhibit 4.1 
 SUPPLEMENTAL INDENTURE NO. 3 
 Dated as of July 27, 2012 

2.625% Notes due 2022 
 3.875% Notes due 2042 
 SUPPLEMENTAL INDENTURE NO. 3, dated as of July 27,
2012, between FedEx Corporation, a Delaware corporation (the “Company”), the Guarantors referred to in the Indenture below (the “Guarantors”) and The Bank of New York Mellon Trust Company, N.A., as trustee (the
“Trustee”). 
 RECITALS 
 WHEREAS, the Company, the Guarantors and the Trustee have executed and delivered an Indenture, dated as of August 8, 2006 (as amended or supplemented to date, the “Indenture”), to
provide for the issuance by the Company from time to time, and the guarantee by the Guarantors, of the Company’s senior unsecured debt securities; 
 WHEREAS, the Company, the Guarantors and the Trustee have executed and delivered Supplemental Indenture No. 1, dated as of August 8, 2006 (“Supplemental Indenture No. 1”);

 WHEREAS, the Company, the Guarantors and the Trustee have executed and delivered Supplemental Indenture No. 2, dated as
of January 16, 2009 (“Supplemental Indenture No. 2”); 
 WHEREAS, Section 9.01(b) of the
Indenture permits execution of supplemental indentures without the consent of any Holders for the purpose of adding to the covenants of the Company or any Guarantor for the benefit of the Holders of less than all series of Securities so long as such
supplemental indenture states that such covenant is expressly being included solely for the benefit of one or more particular series of Securities; 
 WHEREAS, Section 9.01(b) of the Indenture also permits execution of supplemental indentures without the consent of any Holders for the purpose of surrendering any right or power conferred upon the
Company or any Guarantor under the Indenture; 
 WHEREAS, Section 9.01(d) of the Indenture permits execution of
supplemental indentures without the consent of any Holders for the purpose of changing any of the provisions of the Indenture in respect of one or more series of Securities; provided, however, that if such change shall adversely affect
in any material respect the interests of Holders of Securities of any series, such change shall become effective with respect to such series only when no such Security of such series remains Outstanding; 

 WHEREAS, Section 9.01(j) of the Indenture permits execution of supplemental indentures
for the purpose of establishing the form or terms of Securities of any series as permitted by Sections 2.01 and 3.01 of the Indenture without the consent of any Holders; 
 WHEREAS, the entry into this Supplemental Indenture No. 3 by the parties hereto is authorized by the provisions of the Indenture; 

WHEREAS, the Change of Control Repurchase Event (as defined herein) covenant, as set forth below, is expressly being included solely for
the benefit of the 2012 Series Notes (as defined herein); 
 WHEREAS, the Securities issued under the Indenture pursuant to
Supplemental Indenture No. 1 have matured and are no longer Outstanding; 
 WHEREAS, there are currently Outstanding
certain Securities issued under the Indenture pursuant to Supplemental Indenture No. 2 (the “2009 Series Notes”); 
 WHEREAS, the amendment to Section 12.04 and Section 1.01 of the Indenture, as set forth in Section 4.01 below, which deletes in its entirety the text of such Section 12.04(b) and a
corresponding definition appearing in such Section 1.01 of the Indenture, will become effective with respect to the 2009 Series Notes upon the execution of this Supplemental Indenture No. 3; 

WHEREAS, the amendment to Section 1.05 of the Indenture, as set forth in Section 4.02 below, which modifies the terms of such
Section 1.05(i) of the Indenture, will become effective with respect to the 2009 Series Notes upon the execution of this Supplemental Indenture No. 3; 
 WHEREAS, the amendment to Section 6.01 and Section 6.03 of the Indenture, as set forth in Section 4.03 below, which modifies the terms of Article 6 of the Indenture, will not become
effective with respect to the 2009 Series Notes if, and to the extent that, the consent of the Holders of the 2009 Series Notes is required pursuant to Section 9.02 of the Indenture; and 

WHEREAS, all things necessary to make such Securities, when executed by the Company and authenticated and delivered hereunder and under
the Indenture, duly issued by the Company and to make this Supplemental Indenture No. 3 a valid and binding agreement of the Company and the Guarantors, in accordance with the terms hereof and thereof, have been done. 

  
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 NOW, THEREFORE, for and in consideration of the premises and the purchase of the 2012 Series
Notes by the Holders, the Company, the Guarantors and the Trustee mutually covenant and agree, for the equal and proportionate benefit of the respective Holders from time to time of each series of the 2012 Series Notes, and, to the extent applicable
as provided herein, the 2009 Series Notes, as follows: 
 ARTICLE 1 

RELATION TO THE INDENTURE; DEFINITIONS AND

 OTHER PROVISIONS OF GENERAL APPLICATION 

Section 1.01. Relation to the Indenture. This Supplemental Indenture No. 3 constitutes an integral part of the Indenture.

 Section 1.02. Definitions and Other Provisions of General Application. For all purposes of this Supplemental Indenture
No. 3 unless otherwise specified herein: 
 (a) all terms defined in this Supplemental Indenture No. 3 which are used
and not otherwise defined herein shall have the meanings they are given in the Indenture; and 
 (b) the provisions of general
application stated in Section 1.01 of the Indenture shall apply to this Supplemental Indenture No. 3, except that the words “herein,” “hereof,” “hereto” and “hereunder”
and other words of similar import refer to this Supplemental Indenture No. 3 as a whole and not to the Indenture or any particular Article, Section or other subdivision of the Indenture or this Supplemental Indenture No. 3. 

ARTICLE 2 

THE SERIES OF NOTES 

Section 2.01. Title. There shall be a series of Securities designated the 2.625% Notes due 2022 (the “2022
Notes”) and a series of Securities designated the 3.875% Notes due 2042 (the “2042 Notes” and, together with the 2022 Notes, the “2012 Series Notes”). 

Section 2.02. Principal Amounts. The initial aggregate principal amount of the 2022 Notes that may be authenticated and delivered
under this Supplemental Indenture No. 3 shall not exceed $500,000,000 and the initial aggregate principal amount of the 2042 Notes that may be authenticated and delivered under this Supplemental Indenture No. 3 shall not exceed
$500,000,000 (except for 2012 Series Notes of each series authenticated and delivered upon 

  
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registration of, transfer of, or in exchange for, or in lieu of, other 2012 Series Notes of such series pursuant to Section 3.04, 3.05, 3.06, 9.06 or 11.07 of the Indenture and except for
any 2012 Series Notes which pursuant to Section 3.03 of the Indenture are deemed never to have been authenticated and delivered hereunder). 
 Section 2.03. Maturity Dates. The entire outstanding principal of the 2022 Notes shall be payable on August 1, 2022, and the entire outstanding principal of the 2042 Notes shall be payable on
August 1, 2042. 
 Section 2.04. Interest. 
 (a) The 2022 Notes will bear interest at the rate of 2.625% per annum. Interest on the 2022 Notes will be computed on the basis of a 360-day year of twelve 30-day months. Interest on the 2022 Notes
will be payable semi-annually in arrears on February 1 and August 1, commencing February 1, 2013, and on the date of maturity, to the Persons in whose names the 2022 Notes are registered on the preceding January 15 and
July 15 (whether or not that date is a Business Day), respectively. 
 (b) The 2042 Notes will bear interest at the rate of
3.875% per annum. Interest on the 2042 Notes will be computed on the basis of a 360-day year of twelve 30-day months. Interest on the 2042 Notes will be payable semi-annually in arrears on February 1 and August 1, commencing
February 1, 2013, and on the date of maturity, to the Persons in whose names the 2042 Notes are registered on the preceding January 15 and July 15 (whether or not that date is a Business Day), respectively. 

Section 2.05. Defeasance and Discharge; Covenant Defeasance. The provisions of Section 13.02 and Section 13.03 of the
Indenture shall apply to each series of 2012 Series Notes. 
 Section 2.06. Optional Redemption. 

(a) The Company will have the right, at its option, to redeem the 2022 Notes in whole or in part at any time, on at least 30 days’,
but no more than 60 days’, prior written notice mailed by the Company to the Holders of the 2022 Notes to be redeemed. Upon redemption of such 2022 Notes, the Company will pay a redemption price as calculated by a Reference Treasury Dealer (as
defined below) selected by the Company equal to the greater of: 
 (i) 100% of the principal amount of the 2022
Notes to be redeemed; and 
 (ii) the sum of the present values of the remaining scheduled payments of principal
and interest on the 2022 Notes to be redeemed, 

  
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discounted to the redemption date on a semi-annual basis, assuming a 360-day year consisting of twelve 30-day months, at the Adjusted Treasury Rate described below plus 0.20% (20 basis points).

 The redemption price will also include interest accrued to the date of redemption on the principal balance of the 2022 Notes
being redeemed. 
 (b) The Company will have the right, at its option, to redeem the 2042 Notes in whole or in part at any time,
on at least 30 days’, but no more than 60 days’, prior written notice mailed by the Company to the Holders of the 2042 Notes to be redeemed. Upon redemption of such 2042 Notes, the Company will pay a redemption price as calculated by a
Reference Treasury Dealer selected by the Company equal to the greater of: 
 (i) 100% of the principal amount of
the 2042 Notes to be redeemed; and 
 (ii) the sum of the present values of the remaining scheduled payments of
principal and interest on the 2042 Notes to be redeemed, discounted to the redemption date on a semi-annual basis, assuming a 360-day year consisting of twelve 30-day months, at the Adjusted Treasury Rate described below plus 0.25% (25 basis
points). 
 The redemption price will also include interest accrued to the date of redemption on the principal balance of the
2042 Notes being redeemed. 
 “Adjusted Treasury Rate” means, with respect to any date of redemption, the rate
per year 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 that
date of redemption. 
 “Comparable Treasury Issue” means the United States Treasury security selected by a
Reference Treasury Dealer selected by the Company as having a maturity comparable to the remaining term of the 2022 Notes or 2042 Notes, as applicable, to be redeemed that would be used, at the time of selection and under customary financial
practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of the applicable 2012 Series Notes. 
 “Comparable Treasury Price” means, with respect to any date of redemption, the average of the Reference Treasury Dealer Quotations for the date of redemption, after excluding the highest
and lowest Reference Treasury Dealer Quotations, or if the Trustee is provided fewer than three Reference Treasury Dealer Quotations, the average of all Reference Treasury Dealer Quotations. 

  
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 “Reference Treasury Dealer” means each of Goldman, Sachs & Co. and
J.P. Morgan Securities LLC and their respective successors and any other primary treasury dealer the Company may select. If any of the foregoing ceases to be a primary U.S. Government securities dealer in New York City, the Company must substitute
another primary treasury dealer. 
 “Reference Treasury Dealer Quotations” means, with respect to each
Reference Treasury Dealer and any date of redemption, the average 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 Company and the Trustee by the
Reference Treasury Dealer at 5:00 p.m., New York City time, on the third Business Day before the date of redemption. 
 Unless
the Company defaults in payment of the redemption price, on and after the date of redemption, interest will cease to accrue on the 2012 Series Notes or portions of the 2012 Series Notes called for redemption. 

Section 2.07. Form of Notes. Each series of the 2012 Series Notes shall be represented by one or more permanent global notes
registered in the name Cede & Co. or The Depository Trust Company or its nominee. The 2022 Notes shall be in the form of Exhibit A attached hereto and the 2042 Notes shall be in the form of Exhibit B attached
hereto. 
 Section 2.08. Sinking Fund. The 2012 Series Notes shall not be subject to a sinking fund. 

Section 2.09. Additional Amounts. The provisions of Section 10.06 of the Indenture shall not apply to the 2012 Series Notes.

 Section 2.10. Amount Not Limited. The aggregate principal amount of 2012 Series Notes which may be authenticated and
delivered under the Indenture, as supplemented from time to time, shall not be limited, and additional 2012 Series Notes may be issued from time to time without any consent of Holders or of the Trustee, provided that if the additional 2012
Series Notes are not fungible with the then-outstanding 2012 Series Notes for U.S. federal income tax purposes, the additional 2012 Series Notes shall have a separate CUSIP number. 

  
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 ARTICLE 3 
 CHANGE OF CONTROL REPURCHASE EVENT 
 Section 3.01. Intended Beneficiary; Definitions. 
 (a) The provisions of
this Article 3 shall be applicable only to, and are solely for the benefit of Holders of, each series of the 2012 Series Notes and to no other Security. 
 (b) For purposes of this Supplemental Indenture No. 3: 
 “Below
Investment Grade Ratings Event” means, with respect to the 2012 Series Notes, on any day within the 60-day period (which period shall be extended so long as the rating of the 2012 Series Notes is under publicly announced consideration for a
possible downgrade by any Rating Agency) after the earlier of (1) the occurrence of a Change of Control, or (2) the public announcement of the occurrence of a Change of Control or the intention by the Company to effect a Change of Control,
the 2012 Series Notes are rated below Investment Grade by each and every Rating Agency. Notwithstanding the foregoing, a Below Investment Grade Ratings Event otherwise arising by virtue of a particular reduction in rating shall not be deemed to have
occurred in respect of a particular Change of Control (and thus shall not be deemed a Below Investment Grade Ratings Event for purposes of the definition of Change of Control Repurchase Event hereunder) if the Rating Agencies making the reduction in
rating to which this definition would otherwise apply do not publicly announce or publicly confirm, or inform the Trustee in writing at the Company’s request, that the reduction was the result, in whole or in part, of any event or circumstance
comprised of or arising as a result of, or in respect of, the applicable Change of Control (whether or not the applicable Change of Control shall have occurred at the time of the Below Investment Grade Ratings Event). 

“Change of Control” means the consummation of any transaction (including, without limitation, any merger or
consolidation) the result of which is that any “person” or “group” (as those terms are used in Section 13(d)(3) of the Exchange Act), other than (1) the Company, (2) any Subsidiary, (3) any employee benefit
plan (or a trust forming a part thereof) maintained by the Company or any Subsidiary, or (4) any underwriter temporarily holding Voting Stock of the Company pursuant to an offering of such Voting Stock, 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 combined voting power of the Company’s Voting Stock or other Voting Stock into which the Company’s Voting Stock is reclassified,
consolidated, exchanged or changed measured by voting power rather than number of shares. 
 “Change of Control
Repurchase Event” means the occurrence of both a Change of Control and a Below Investment Grade Ratings Event with respect to the 2012 Series Notes. 

  
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 “Investment Grade” means, with respect to Moody’s, a rating of Baa3 or
better (or its equivalent under any successor rating categories of Moody’s); with respect to S&P, a rating of BBB- or better (or its equivalent under any successor rating categories of S&P); and, with respect to any additional Rating
Agency or Rating Agencies selected by the Company, the equivalent investment grade credit rating. 

“Moody’s” means Moody’s Investors Service, Inc., a subsidiary of Moody’s Corporation, and its successors.

 “Rating Agency” means (1) each of Moody’s and S&P; and (2) if either of Moody’s or
S&P ceases to rate the 2012 Series Notes or fails to make a rating of the 2012 Series Notes publicly available for reasons outside of the Company’s control, a “nationally recognized statistical rating organization” within the
meaning of Rule 3(a)(62) under the Exchange Act, selected by the Company (as certified by a Board Resolution) as a replacement agency for Moody’s or S&P, or both of them, as the case may be. 

“S&P” means Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc., and its
successors. 
 “Voting Stock” of any specified “person” (as that term is used in
Section 13(d)(3) of the Exchange Act) 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. 

Section 3.02. Change of Control Repurchase Event. 
 (a) If a Change of Control Repurchase Event occurs with respect to the 2012 Series Notes, unless the Company has exercised its right to redeem the 2012 Series Notes pursuant to the redemption terms of
each of the 2022 Notes or 2042 Notes, the Company will make an offer to each Holder of the 2012 Series Notes to repurchase all or any part (in minimum denominations of $2,000 or integral multiples of $1,000 in excess thereof) of that Holder’s
2012 Series Notes at a repurchase price (the “Repurchase Price”) in cash equal to 101% of the aggregate principal amount of such 2012 Series Notes repurchased plus any accrued and unpaid interest on such 2012 Series Notes
repurchased to, but not including, the Repurchase Date (defined below). 
 (b) Within 30 days following a Change of Control
Repurchase Event or, at the Company’s option, prior to a Change of Control, but after the public announcement of such Change of Control, the Company will mail, or cause to be mailed, a notice to each Holder of the 2012 Series Notes, with a copy
to the Trustee, describing the transaction or transactions that constitute or may constitute the Change of Control Repurchase Event and offering to repurchase the 2012 Series Notes on the payment date specified in the notice (such offer the
“Repurchase Offer” and such date the “Repurchase Date”), which Repurchase Date will be no earlier than 30 days and no later than 60 days from the date such 

  
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notice is mailed, pursuant to the procedures described in such notice. The notice shall, if mailed prior to the date of consummation of the Change of Control, state that the Repurchase Offer is
conditioned on a Change of Control Repurchase Event occurring on or prior to the Repurchase Date. 
 (c) The Company will comply
with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations to the extent those laws and regulations are applicable in connection with the repurchase of the 2012 Series Notes as a result of a Change of
Control Repurchase Event. To the extent that the provisions of any securities laws or regulations conflict with the Change of Control Repurchase Event provisions of the 2012 Series Notes, the Company will comply with the applicable securities laws
and regulations and will not be deemed to have breached its obligations under the Change of Control Repurchase Event provisions of the 2012 Series Notes by virtue of such conflict. 

(d) On the Repurchase Date following a Change of Control Repurchase Event, the Company will, to the extent lawful: 

(i) accept for payment all 2012 Series Notes or portions of 2012 Series Notes properly tendered pursuant to the
Repurchase Offer; 
 (ii) deposit with the Trustee or with such Paying Agent as the Trustee may designate an
amount equal to the aggregate Repurchase Price for all 2012 Series Notes or portions of 2012 Series Notes properly tendered; 
 (iii) deliver, or cause to be delivered, to the Trustee the 2012 Series Notes properly accepted for payment by the Company, together with an Officers’ Certificate stating the aggregate principal
amount of 2012 Series Notes being repurchased by the Company pursuant to the Repurchase Offer; and 
 (iv)
deliver, or cause to be delivered, to the Trustee, for authentication by the Trustee, any new 2022 Notes or 2042 Notes required to be issued pursuant to Section 3.02(e) below, duly executed by the Company. 

(e) Upon receipt by the Trustee from the Company of a notice setting forth the Repurchase Price and the Series 2012 Notes properly
tendered and accepted for payment, the Trustee will promptly mail, or cause the Paying Agent to promptly mail, to each Holder of 2012 Series Notes, or portions of 2012 Series Notes, properly tendered and accepted for payment by the Company the
Repurchase Price for such 2012 Series Notes or portions of 2012 Series Notes, and the Trustee will promptly authenticate and mail (or cause to be transferred by book-entry) to each such Holder a new 2022 Note or 2042 Note, as applicable, duly
executed by the Company equal in principal amount to any unpurchased 

  
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portion of any 2012 Series Notes surrendered, as applicable; provided that each such new 2012 Series Note will be in a principal amount equal to $2,000 or integral multiples of $1,000 in
excess thereof. 
 (f) The Company will not be required to make a Repurchase Offer upon a Change of Control Repurchase Event if
a third party makes such an offer in the manner, at the times and otherwise in compliance with the requirements for such an offer made by the Company and such third party purchases all 2012 Series Notes or portions of 2012 Series Notes properly
tendered and not withdrawn under its offer. 
 (g) The Company and the Guarantors acknowledge that the Company may not have
sufficient funds to repurchase all 2012 Series Notes or portions of 2012 Series Notes properly tendered upon a Change of Control Repurchase Event. 
 ARTICLE 4 
 AMENDMENT OF THE
INDENTURE 
 Section 4.01. Amendment to Section 12.04 of the Indenture and Corresponding Definitions.
(a) Section 12.04(b) of the Indenture is hereby deleted in its entirety and replaced with the following: 
 “(b) [Reserved.]” 
 (b) The following text of Section 1.01
of the Indenture is hereby deleted in its entirety: 
 “ “Specified Guarantor” means each
of Federal Express Corporation, FedEx Ground Package System, Inc., FedEx Freight Corporation, FedEx Freight East, Inc., FedEx Kinko’s Office and Print Services, Inc., FedEx Corporate Services, Inc. and FedEx Customer Information Services,
Inc.” 
 Section 4.02. Amendment to Section 1.05 of the Indenture. Section 1.05(i) of the Indenture is
hereby deleted in its entirety and replaced with the following: 
 “(i) the Trustee by any Holder or the
Company or a Guarantor shall be sufficient for every purpose hereunder if made, given, furnished or filed in writing to or with the Trustee at its Corporate Trust Office, with a copy to: 900 Ashwood Parkway, Suite 425, Atlanta Georgia 30338,
Attention: Corporate Trust Department; or” 

  
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 Section 4.03. Amendment to Article 6 of the Indenture. (a) Section 6.01 of
the Indenture is hereby amended by adding the following immediately after Section 6.01(d): 
 “(e) The
Trustee shall not be responsible or liable for any failure or delay in the performance of its obligations under this Indenture arising out of or caused, directly or indirectly, by circumstances beyond its control, including, without limitation, any
provision of any law or regulation or any act of any governmental authority, acts of God; earthquakes; fire; flood; terrorism; wars and other military disturbances; sabotage; epidemics; riots; interruptions, loss or malfunctions of utilities,
computer (hardware or software) or communication services; accidents; labor disputes; acts of civil or military authority and governmental action.” 
 (b) Section 6.03 of the Indenture is hereby amended by adding the following immediately after Section 6.03(i): 

“(j) The Trustee agrees to accept and act upon instructions or directions pursuant to this Indenture sent by
unsecured e-mail, pdf, facsimile transmission or other similar unsecured electronic methods, provided, however, that the Trustee shall have received an incumbency certificate listing persons designated to give such instructions or directions and
containing specimen signatures of such designated persons, which such incumbency certificate shall be amended and replaced whenever a person is to be added or deleted from the listing. If the Company or any Guarantor elects to give the Trustee
e-mail or facsimile instructions (or instructions by a similar electronic method) and the Trustee in its discretion elects to act upon such instructions, the Trustee’s understanding of such instructions shall be deemed controlling. The Trustee
shall not be liable for any losses, costs or expenses arising directly or indirectly from the Trustee’s reliance upon and compliance with such instructions notwithstanding such instructions conflict or are inconsistent with a subsequent written
instruction. The Company and each Guarantor agree to assume all risks arising out of the use of such electronic methods to submit instructions and directions to the Trustee, including without limitation the risk of the Trustee acting on unauthorized
instructions, and the risk of interception and misuse by third parties.” 
 ARTICLE 5 

MISCELLANEOUS PROVISIONS 
 Section 5.01. Supplemental Indenture. The Indenture, as supplemented and amended by this Supplemental Indenture No. 3, is in all respects hereby adopted, ratified and confirmed. 

Section 5.02. Effectiveness. This Supplemental Indenture No. 3 shall take effect as of the date hereof. 

  
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 Section 5.03. Effect of Headings. The Article and Section headings herein are for
convenience only and shall not affect the construction hereof. 
 Section 5.04. Separability Clause. In case any
provision in this Supplemental Indenture No. 3 shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions herein shall not in any way be affected or impaired thereby. 

Section 5.05. Governing Law. This Supplemental Indenture No. 3 shall be governed by and construed in accordance with the laws
of the State of New York without regard to conflicts of laws principles thereof. 
 Section 5.06. Execution by the Trustee.
The Trustee has executed this Supplemental Indenture No. 3 only upon the terms and conditions set forth in the Indenture. Without limiting the generality of the foregoing, the Trustee shall not be responsible for the correctness of the
recitals contained herein, which shall be taken as statements of the Company and the Guarantors, and the Trustee makes no representation and shall have no responsibility for, or in respect of, the validity or sufficiency of this Supplemental
Indenture No. 3 or the execution hereof by any Person (other than the Trustee). 
 Section 5.07. Counterparts. This
Supplemental Indenture No. 3 may be executed in any number of counterparts, each of which shall be an original; but such counterparts shall together constitute but one and the same instrument. 

[Signature Pages Follow] 

  
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 IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture No. 3 to
be duly executed, all as of the day and year first above written. 
  

									
		 		 	FedEx Corporation,
		 		 	    as Issuer
	Attest:	 		 	
					
	By:	 	/s/ Robert T. Molinet	 		 	By:	 	/s/ Michael C. Lenz
		 	Name:   Robert T. Molinet	 		 		 	Name:   Michael C. Lenz
		 	Title:     Assistant Secretary	 		 		 	 Title:     Corporate Vice President and
               Treasurer

									
		 		 	 Federal Express Corporation,
     as Guarantor

	Attest:	 		 	
					
	By:	 	/s/ Robert T. Molinet	 		 	By:	 	/s/ David J. Bronczek
		 	Name:   Robert T. Molinet	 		 		 	Name:   David J. Bronczek
		 	Title:     Secretary	 		 		 	Title:     President and Chief Executive Officer

									
		 		 	 FedEx Ground Package System, Inc.,
     as Guarantor

	Attest:	 		 	
					
	By:	 	/s/ Robert T. Molinet	 		 	By:	 	/s/ Gretchen G. Smarto
		 	Name:   Robert T. Molinet	 		 		 	Name:   Gretchen G. Smarto
		 	Title:     Secretary	 		 		 	 Title:     Senior Vice President – Finance
               and Administration,
               Chief Financial Officer and Treasurer

									
		 		 	 FedEx Freight Corporation,
     as Guarantor

	Attest:	 		 	
					
	By:	 	/s/ Robert T. Molinet	 		 	By:	 	/s/ Donald C. Brown
		 	Name:   Robert T. Molinet	 		 		 	Name:   Donald C. Brown
		 	Title:     Secretary	 		 		 	 Title:     Executive Vice President –
               Finance and Administration and
               Chief Financial Officer

									
		 		 	 FedEx Freight, Inc.,
     as Guarantor

	Attest:	 		 	
					
	By:	 	/s/ Robert T. Molinet	 		 	By:	 	/s/ Donald C. Brown
		 	Name:   Robert T. Molinet	 		 		 	Name:   Donald C. Brown
		 	Title:     Assistant Secretary	 		 		 	 Title:     Executive Vice President –
               Finance and Administration and
               Chief Financial Officer

									
		 		 	 FedEx Corporate Services, Inc.,
     as Guarantor

	Attest:	 		 	
					
	By:	 	/s/ Robert T. Molinet	 		 	By:	 	/s/ Mark A. McGough
		 	Name:   Robert T. Molinet	 		 		 	Name:   Mark A. McGough
		 	Title:     Secretary	 		 		 	 Title:     Senior Vice President and
               Chief Financial Officer

									
		 		 	 FedEx Office and Print Services, Inc.,
     as Guarantor

	Attest:	 		 	
					
	By:	 	/s/ Robert T. Molinet	 		 	By:	 	/s/ Leslie M. Benners
		 	Name:   Robert T. Molinet	 		 		 	Name:   Leslie M. Benners
		 	Title:     Secretary	 		 		 	 Title:     Senior Vice President and
               Chief Financial Officer

									
		 		 	 FedEx TechConnect, Inc.,
     as Guarantor

	Attest:	 		 	
					
	By:	 	/s/ Robert T. Molinet	 		 	By:	 	/s/ Mark A. McGough
		 	Name: Robert T. Molinet	 		 		 	Name: Mark A. McGough
		 	Title:   Secretary	 		 		 	Title:   Senior Vice President and Chief Financial Officer

									
		 		 	 Federal Express Europe, Inc.,
     as Guarantor

	Attest:	 		 	
					
	By:	 	/s/ Robert T. Molinet	 		 	By:	 	/s/ M. Rush O’Keefe, Jr.
		 	Name:   Robert T. Molinet	 		 		 	Name:   M. Rush O’Keefe, Jr.
		 	Title:     Assistant Secretary	 		 		 	Title:     Vice President

									
		 		 	 Federal Express Holdings S.A.,
     as Guarantor

	Attest:	 		 	
					
	By:	 	/s/ Robert T. Molinet	 		 	By:	 	/s/ Juan N. Cento
		 	Name:   Robert T. Molinet	 		 		 	Name:   Juan N. Cento
		 	Title:     Assistant Secretary	 		 		 	 Title:     Chairman of the Board,
               President and Chief Executive Officer

									
		 		 	 Federal Express International, Inc.,
     as Guarantor

	Attest:	 		 	
					
	By:	 	/s/ Robert T. Molinet	 		 	By:	 	/s/ M. Rush O’Keefe, Jr.
		 	Name:   Robert T. Molinet	 		 		 	Name:   M. Rush O’Keefe, Jr.
		 	Title:     Assistant Secretary	 		 		 	Title:     Vice President

 
			
	 The Bank of New York Mellon Trust
 Company, N.A.,
     as Trustee

		
	By:	 	/s/ Melonee Young
		 	Name:   Melonee Young
		 	Title:     Vice President

 Exhibit A 
 Form of 2022 Note 
  

			
	No. 1	  	CUSIP No. 31428XAS5

 THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE
NAME OF A DEPOSITARY OR A NOMINEE OF A 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 NO TRANSFER
OF THIS SECURITY (OTHER THAN A TRANSFER OF THIS SECURITY AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY) MAY BE REGISTERED EXCEPT IN SUCH LIMITED
CIRCUMSTANCES. 
 Unless this security is presented by an authorized representative of The Depository Trust Company, a New York corporation
(“DTC”), to the Issuer 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
DTC (and any payment is made to Cede & Co. or to such other entity as is requested by an authorized representative of DTC), 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. 
 FEDEX CORPORATION 

2.625% Notes due 2022 
 Guaranteed as to Payment of Principal and Interest 
 by the Guarantors named in the
Indenture Referred to Below 
 FedEx Corporation, a Delaware corporation (the “Company,” which term includes
any successor Corporation under the Indenture), for value received, hereby promises to pay to 
 Cede & Co. 

c/o The Depository Trust Company 
 55 Water Street 
 New York, New York 10041 

  
 1 

 or registered assigns, the principal sum of US$500,000,000 on August 1, 2022 (the “Maturity
Date”) and to pay interest thereon from July 27, 2012, or from the most recent “Interest Payment Date” to which interest has been paid or duly provided for, semi-annually in arrears on February 1 and August 1
of each year, commencing February 1, 2013, and on the Maturity Date, at the rate of 2.625% per annum, until the principal hereof is paid or duly provided for. The interest so payable, and punctually paid or duly provided for, on any
Interest Payment Date will, as provided in the Indenture dated as of August 8, 2006 between the Company, the Guarantors referred to in the Indenture and The Bank of New York Mellon Trust Company, N.A. (formerly, The Bank of New York Trust
Company, N.A.) as Trustee (the “Trustee,” which term includes any successor trustee pursuant to the Indenture), as amended and supplemented by Supplemental Indenture No. 2 dated as of January 16, 2009, and as further
amended and supplemented by Supplemental Indenture No. 3 dated as of July 27, 2012 (“Supplemental Indenture No. 3”), between the Company, the Guarantors named therein and the Trustee (as so amended and supplemented,
the “Indenture”), be paid to the Person in whose name this Note is registered at the close of business on the “Regular Record Date” for such interest, which shall be the preceding January 15 and July 15
(whether or not a Business Day), respectively. Any such interest not so punctually paid or duly provided for shall forthwith cease to be payable to the registered Holder on such Regular Record Date and may either be paid to the Person in whose name
this Note (or one or more Predecessor Notes) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice of which shall be given to Holders of Notes of this series not
less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes of this series may be listed, and upon such notice as may be
required by such exchange, all as more fully provided in the Indenture. 
 The Company will at all times appoint and maintain a
Paying Agent (which may be the Trustee) authorized by the Company to pay the principal of and interest on any Notes of this series on behalf of the Company and having an office or agency in New York, New York and in such other cities, if any, as the
Company may designate in writing to the Trustee (the “Place of Payment”) where Notes of this series may be presented or surrendered for payment and where notices, designations or requests in respect for payments with respect to
Notes of this series may be served. The Company has initially appointed The Bank of New York Mellon Trust Company, N.A. as such Paying Agent. 
 Interest payments on this Note will be computed and paid on the basis of a 360-day year of twelve 30-day months. Interest payable on this Note on any Interest Payment Date and on the Maturity Date will
include interest accrued from and including the most recent Interest Payment Date to which interest has been paid or duly provided for (or from and including July 27, 2012, if no interest has been paid on this Note) to but excluding such
Interest Payment Date or the Maturity Date, as the case may be. 

  
 2 

 If any Interest Payment Date or the Maturity Date falls on a day that is not a Business Day
(as defined below), principal or interest payable with respect to such Interest Payment Date or Maturity Date, as the case may be, will be paid on the next succeeding Business Day with the same force and effect as if it were paid on the date such
payment was due, and no interest shall accrue on the amount so payable for the period from and after such Interest Payment Date or the Maturity Date, as the case may be. “Business Day” means any day other than Saturday, Sunday or
other day on which banking institutions in New York or Tennessee are obligated or authorized by law to close. 
 The principal
and interest payable on this Note will be made by wire transfer of immediately available funds to the Holder hereof in such currency of the United States of America as at the time of payment is legal tender for the payment of public and private
debts. 
 Reference is hereby made to the further provisions of this Note set forth on the reverse hereof, which further
provisions shall for all purposes have the same effect as if set forth at this place. 
 Unless the Certificate of
Authentication hereon has been executed by the Trustee by manual signature, this Note shall not be entitled to any benefit pursuant to the Indenture or be valid or obligatory for any purpose. 

  
 3 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed. 

 

			
	FEDEX CORPORATION
		
	 By:
	 	 
		 	 Name: Michael C. Lenz

		 	 Title:   Corporate Vice President and Treasurer

  

			
	Attest:
		
	By:	 	 
		 	 Name: Christine P. Richards

		 	 Title:   Secretary

  
 4 

 Certificate of Authentication 

This is one of the Securities of the series designated therein referred to in the within-mentioned Indenture. 

 

			
	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Trustee
		
	 By:
	 	 
		 	 Authorized Signatory

 Dated: July 27, 2012 

  
 5 

 [REVERSE OF SECURITY] 
 FEDEX CORPORATION 
 2.625% Notes due 2022 

This Note is one of a duly authorized issue of notes of the Company (herein called the “Notes”), issued pursuant to the
Indenture. Reference is hereby made to the Indenture for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Guarantors, the Trustee and the Holders of the Notes and of the terms upon
which the Notes are, and are to be, authenticated and delivered. To the extent the terms of the Indenture and this Note are inconsistent, the terms of the Indenture shall govern. This Note is one of the series designated on the face hereof, limited
in initial aggregate principal amount to US$500,000,000. Capitalized terms used herein and in the Guarantee endorsed hereon but not defined herein have the meanings ascribed to such terms in the Indenture. 

The Notes of this series are not subject to any sinking fund. 
 The Company will have the right, at its option, to redeem the Notes of this series in whole or in part at any time on at least 30 days’, but no more than 60 days’, prior written notice mailed to
the registered address of each Holder of the Notes of this series to be redeemed. Upon redemption of such Notes, the Company will pay a redemption price as calculated by a Reference Treasury Dealer (as defined in Supplemental Indenture No. 3)
selected by the Company equal to the greater of (i) 100% of the principal amount of the Notes of this series to be redeemed and (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the Notes
of this series to be redeemed, discounted to the redemption date on a semi-annual basis, assuming a 360-day year consisting of twelve 30-day months, at the Adjusted Treasury Rate (as defined in Supplemental Indenture No. 3) plus twenty
(20) basis points. 
 The redemption price will also include interest accrued to the date of redemption on the principal
balance of the Notes of this series being redeemed. 
 Unless the Company defaults in payment of the redemption price, on and
after the date of redemption, interest will cease to accrue on the Notes or portions of the Notes of this series called for redemption. 
 If a Change of Control Repurchase Event (as defined in Supplemental Indenture No. 3) occurs with respect to Notes of this series, unless the Company has exercised its right to redeem the affected
Notes, the Company will make an offer, as provided in, and subject to the terms of, Supplemental Indenture No. 3, to each Holder of the Notes of this series to repurchase all or any part (in minimum denominations of $2,000 or integral multiples
of $1,000 in excess thereof) of that Holder’s Notes at a repurchase price in cash equal to 101% of the aggregate principal amount of such Notes repurchased plus any accrued and unpaid interest on such Notes repurchased to, but not including,
the date of repurchase. 

  
 1 

 The Notes of this series are fully and unconditionally guaranteed as to the due and punctual
payment of the principal and interest in respect thereof by the Guarantors as evidenced by their guarantees (the “Guarantees”) set forth hereon. The Guarantees are the direct and unconditional obligations of such Guarantors and rank
and will rank equally in priority of payment and in all other respects with all other unsecured and unsubordinated obligations of such Guarantors now or hereafter outstanding. 
 In case an Event of Default with respect to the Notes of this series shall occur and be continuing, the principal of the Notes of this series may be declared due and payable in the manner and with the
effect provided in the Indenture. 
 The Indenture contains provisions for defeasance at any time of (i) the entire
indebtedness of this Note or (ii) certain respective covenants and Events of Default with respect to this Note, in each case upon compliance with certain conditions set forth therein, which provisions apply to the Notes. 

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and
obligations of the Company and the Guarantors and the rights of the Holders of the Notes of each series to be affected pursuant to the Indenture at any time by the Company, the Guarantors and the Trustee with the consent of the Holders of a majority
in principal amount of such Notes at the time Outstanding (voting as a single class). The Indenture also contains provisions permitting the Holders of specified percentages in principal amount of the Notes of each series at the time Outstanding, on
behalf of the Holders of all Notes of such series, to waive compliance by the Company and the Guarantors with certain provisions of the Indenture and certain past defaults pursuant to the Indenture and their consequences. Any such consent or waiver
by the Holder of this Note shall be conclusive and binding upon such Holder and upon all future Holders of this Note and of any Note or Notes issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof, whether or not
notation of such consent or waiver is made upon this Note. 
 No reference herein to the Indenture and no provision of this Note
or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and interest on this Note at the times, places and rate, and in the currency herein prescribed. 

As provided in the Indenture and subject to certain limitations herein and therein set forth, the transfer of this Note is registrable in
the Security Register, upon surrender of this Note for registration of transfer at the office or agency of the Company in the Place of Payment, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company
and the 

  
 2 

 
Security Registrar, duly executed by, the Holder hereof or its attorney-in-fact duly authorized in writing, and thereupon one or more new Notes of this series and of like tenor, of authorized
denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. 
 The
Notes of this series are issuable only in registered form without coupons in denominations equal to $2,000 and integral multiples of $1,000 in excess thereof. As provided in the Indenture and subject to certain limitations herein and therein set
forth, Notes of this series are exchangeable for the same aggregate principal amount of Notes of this series and of like tenor and authorized denominations, as requested by the Holder surrendering the same. 

No service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum
sufficient to cover any tax or other governmental charge payable in connection therewith. 
 Prior to due presentment of this
Note for registration of transfer, the Company, the Guarantors, the Trustee and any agent of the Company, a Guarantor or the Trustee may treat the Person in whose name this Note is registered as the owner hereof for all purposes, whether or not this
Note be overdue, and neither the Company, the Guarantors, the Trustee nor any such agent shall be affected by notice to the contrary. 
 No recourse under or upon any obligation, covenant or agreement of the Company or any Guarantor in the Indenture or any indenture supplemental thereto or in any Note, or because of the creation of any
indebtedness represented thereby, shall be had against any incorporator, stockholder, officer, director or employee, as such, past, present or future, of the Company or any Guarantor or of any successor thereto, either directly or through the
Company or any Guarantor or any successor thereto, under any rule of law, statute or constitutional provision or by the enforcement of any assessment or by any legal or equitable proceeding or otherwise, all such liability being expressly waived and
released by the acceptance hereof and as part of the consideration for the issue hereof. 
 This Note shall be governed by and
construed in accordance with the laws of the State of New York. 

  
 3 

 Schedule 1 
 SCHEDULE OF CHANGES IN OUTSTANDING PRINCIPAL AMOUNT 
 The following notations in
respect of changes in the outstanding principal amount of this Note have been made: 
  

									
	 Date
	 	 Initial Principal Amount
	 	
Change in Outstanding
Principal Amount
	 	 New

Balance
	 	 Notation Made

by

  
 4 

 Exhibit B 
 Form of 2042 Note 
  

			
	No. 1	  	CUSIP No. 31428XAT3

 THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE
NAME OF A DEPOSITARY OR A NOMINEE OF A 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 NO TRANSFER
OF THIS SECURITY (OTHER THAN A TRANSFER OF THIS SECURITY AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY) MAY BE REGISTERED EXCEPT IN SUCH LIMITED
CIRCUMSTANCES. 
 Unless this security is presented by an authorized representative of The Depository Trust Company, a New York corporation
(“DTC”), to the Issuer 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
DTC (and any payment is made to Cede & Co. or to such other entity as is requested by an authorized representative of DTC), 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. 
 FEDEX CORPORATION 

3.875% Notes due 2042 
 Guaranteed as to Payment of Principal and Interest 
 by the Guarantors named in the
Indenture Referred to Below 
 FedEx Corporation, a Delaware corporation (the “Company,” which term includes
any successor Corporation under the Indenture), for value received, hereby promises to pay to 
 Cede &
Co. 
 c/o The Depository Trust Company 

55 Water Street 
 New York, New York 10041 

  
 1 

 or registered assigns, the principal sum of US$500,000,000 on August 1, 2042 (the “Maturity
Date”) and to pay interest thereon from July 27, 2012, or from the most recent “Interest Payment Date” to which interest has been paid or duly provided for, semi-annually in arrears on February 1 and August 1
of each year, commencing February 1, 2013, and on the Maturity Date, at the rate of 3.875% per annum, until the principal hereof is paid or duly provided for. The interest so payable, and punctually paid or duly provided for, on any
Interest Payment Date will, as provided in the Indenture dated as of August 8, 2006 between the Company, the Guarantors referred to in the Indenture and The Bank of New York Mellon Trust Company, N.A. (formerly, The Bank of New York Trust
Company, N.A.) as Trustee (the “Trustee,” which term includes any successor trustee pursuant to the Indenture), as amended and supplemented by Supplemental Indenture No. 2 dated as of January 16, 2009, and as further
amended and supplemented by Supplemental Indenture No. 3 dated as of July 27, 2012 (“Supplemental Indenture No. 3”), between the Company, the Guarantors named therein and the Trustee (as so amended and supplemented,
the “Indenture”), be paid to the Person in whose name this Note is registered at the close of business on the “Regular Record Date” for such interest, which shall be the preceding January 15 and July 15
(whether or not a Business Day), respectively. Any such interest not so punctually paid or duly provided for shall forthwith cease to be payable to the registered Holder on such Regular Record Date and may either be paid to the Person in whose name
this Note (or one or more Predecessor Notes) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice of which shall be given to Holders of Notes of this series not
less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes of this series may be listed, and upon such notice as may be
required by such exchange, all as more fully provided in the Indenture. 
 The Company will at all times appoint and maintain a
Paying Agent (which may be the Trustee) authorized by the Company to pay the principal of and interest on any Notes of this series on behalf of the Company and having an office or agency in New York, New York and in such other cities, if any, as the
Company may designate in writing to the Trustee (the “Place of Payment”) where Notes of this series may be presented or surrendered for payment and where notices, designations or requests in respect for payments with respect to
Notes of this series may be served. The Company has initially appointed The Bank of New York Mellon Trust Company, N.A. as such Paying Agent. 
 Interest payments on this Note will be computed and paid on the basis of a 360-day year of twelve 30-day months. Interest payable on this Note on any Interest Payment Date and on the Maturity Date will
include interest accrued from and including the most recent Interest Payment Date to which interest has been paid or duly provided for (or from and including July 27, 2012, if no interest has been paid on this Note) to but excluding such
Interest Payment Date or the Maturity Date, as the case may be. 

  
 2 

 If any Interest Payment Date or the Maturity Date falls on a day that is not a Business Day
(as defined below), principal or interest payable with respect to such Interest Payment Date or Maturity Date, as the case may be, will be paid on the next succeeding Business Day with the same force and effect as if it were paid on the date such
payment was due, and no interest shall accrue on the amount so payable for the period from and after such Interest Payment Date or the Maturity Date, as the case may be. “Business Day” means any day other than Saturday, Sunday or
other day on which banking institutions in New York or Tennessee are obligated or authorized by law to close. 
 The principal
and interest payable on this Note will be made by wire transfer of immediately available funds to the Holder hereof in such currency of the United States of America as at the time of payment is legal tender for the payment of public and private
debts. 
 Reference is hereby made to the further provisions of this Note set forth on the reverse hereof, which further
provisions shall for all purposes have the same effect as if set forth at this place. 
 Unless the Certificate of
Authentication hereon has been executed by the Trustee by manual signature, this Note shall not be entitled to any benefit pursuant to the Indenture or be valid or obligatory for any purpose. 

  
 3 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed. 

 

			
	FEDEX CORPORATION
		
	By:	 	 
		 	 Name: Michael C. Lenz

		 	Title:   Corporate Vice President and Treasurer

 Attest: 
  

			
		
	By:	 	 
		 	Name: Christine P. Richards
		 	 Title:   Secretary

  
 4 

 Certificate of Authentication 

This is one of the Securities of the series designated therein referred to in the within-mentioned Indenture. 

 

			
	 THE BANK OF NEW YORK MELLON
 TRUST COMPANY, N.A., as Trustee

		
	By:	 	 
		 	Authorized Signatory

 Dated: July 27, 2012 

  
 5 

 [REVERSE OF SECURITY] 
 FEDEX CORPORATION 
 3.875% Notes due 2042 

This Note is one of a duly authorized issue of notes of the Company (herein called the “Notes”), issued pursuant to the
Indenture. Reference is hereby made to the Indenture for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Guarantors, the Trustee and the Holders of the Notes and of the terms upon
which the Notes are, and are to be, authenticated and delivered. To the extent the terms of the Indenture and this Note are inconsistent, the terms of the Indenture shall govern. This Note is one of the series designated on the face hereof, limited
in initial aggregate principal amount to US$500,000,000. Capitalized terms used herein and in the Guarantee endorsed hereon but not defined herein have the meanings ascribed to such terms in the Indenture. 

The Notes of this series are not subject to any sinking fund. 
 The Company will have the right, at its option, to redeem the Notes of this series in whole or in part at any time on at least 30 days’, but no more than 60 days’, prior written notice mailed to
the registered address of each Holder of the Notes of this series to be redeemed. Upon redemption of such Notes, the Company will pay a redemption price as calculated by a Reference Treasury Dealer (as defined in Supplemental Indenture No. 3)
selected by the Company equal to the greater of (i) 100% of the principal amount of the Notes of this series to be redeemed and (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the Notes
of this series to be redeemed, discounted to the redemption date on a semi-annual basis, assuming a 360-day year consisting of twelve 30-day months, at the Adjusted Treasury Rate (as defined in Supplemental Indenture No. 3) plus twenty-five
(25) basis points. 
 The redemption price will also include interest accrued to the date of redemption on the principal
balance of the Notes of this series being redeemed. 
 Unless the Company defaults in payment of the redemption price, on and
after the date of redemption, interest will cease to accrue on the Notes or portions of the Notes of this series called for redemption. 
 If a Change of Control Repurchase Event (as defined in Supplemental Indenture No. 3) occurs with respect to Notes of this series, unless the Company has exercised its right to redeem the affected
Notes, the Company will make an offer, as provided in, and subject to the terms of, Supplemental Indenture No. 3, to each Holder of the Notes of this series to repurchase all or any part (in minimum denominations of $2,000 or integral multiples
of $1,000 in excess thereof) of that Holder’s Notes at a repurchase price in cash equal to 101% of the aggregate principal amount of such Notes repurchased plus any accrued and unpaid interest on such Notes repurchased to, but not including,
the date of repurchase. 

  
 1 

 The Notes of this series are fully and unconditionally guaranteed as to the due and punctual
payment of the principal and interest in respect thereof by the Guarantors as evidenced by their guarantees (the “Guarantees”) set forth hereon. The Guarantees are the direct and unconditional obligations of such Guarantors and rank
and will rank equally in priority of payment and in all other respects with all other unsecured and unsubordinated obligations of such Guarantors now or hereafter outstanding. 
 In case an Event of Default with respect to the Notes of this series shall occur and be continuing, the principal of the Notes of this series may be declared due and payable in the manner and with the
effect provided in the Indenture. 
 The Indenture contains provisions for defeasance at any time of (i) the entire
indebtedness of this Note or (ii) certain respective covenants and Events of Default with respect to this Note, in each case upon compliance with certain conditions set forth therein, which provisions apply to the Notes. 

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and
obligations of the Company and the Guarantors and the rights of the Holders of the Notes of each series to be affected pursuant to the Indenture at any time by the Company, the Guarantors and the Trustee with the consent of the Holders of a majority
in principal amount of such Notes at the time Outstanding (voting as a single class). The Indenture also contains provisions permitting the Holders of specified percentages in principal amount of the Notes of each series at the time Outstanding, on
behalf of the Holders of all Notes of such series, to waive compliance by the Company and the Guarantors with certain provisions of the Indenture and certain past defaults pursuant to the Indenture and their consequences. Any such consent or waiver
by the Holder of this Note shall be conclusive and binding upon such Holder and upon all future Holders of this Note and of any Note or Notes issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof, whether or not
notation of such consent or waiver is made upon this Note. 
 No reference herein to the Indenture and no provision of this Note
or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and interest on this Note at the times, places and rate, and in the currency herein prescribed. 

As provided in the Indenture and subject to certain limitations herein and therein set forth, the transfer of this Note is registrable in
the Security Register, upon surrender of this Note for registration of transfer at the office or agency of the Company in the Place of Payment, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company
and the 

  
 2 

 
Security Registrar, duly executed by, the Holder hereof or its attorney-in-fact duly authorized in writing, and thereupon one or more new Notes of this series and of like tenor, of authorized
denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. 
 The
Notes of this series are issuable only in registered form without coupons in denominations equal to $2,000 and integral multiples of $1,000 in excess thereof. As provided in the Indenture and subject to certain limitations herein and therein set
forth, Notes of this series are exchangeable for the same aggregate principal amount of Notes of this series and of like tenor and authorized denominations, as requested by the Holder surrendering the same. 

No service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum
sufficient to cover any tax or other governmental charge payable in connection therewith. 
 Prior to due presentment of this
Note for registration of transfer, the Company, the Guarantors, the Trustee and any agent of the Company, a Guarantor or the Trustee may treat the Person in whose name this Note is registered as the owner hereof for all purposes, whether or not this
Note be overdue, and neither the Company, the Guarantors, the Trustee nor any such agent shall be affected by notice to the contrary. 
 No recourse under or upon any obligation, covenant or agreement of the Company or any Guarantor in the Indenture or any indenture supplemental thereto or in any Note, or because of the creation of any
indebtedness represented thereby, shall be had against any incorporator, stockholder, officer, director or employee, as such, past, present or future, of the Company or any Guarantor or of any successor thereto, either directly or through the
Company or any Guarantor or any successor thereto, under any rule of law, statute or constitutional provision or by the enforcement of any assessment or by any legal or equitable proceeding or otherwise, all such liability being expressly waived and
released by the acceptance hereof and as part of the consideration for the issue hereof. 
 This Note shall be governed by and
construed in accordance with the laws of the State of New York. 

  
 3 

 Schedule 1 
 SCHEDULE OF CHANGES IN OUTSTANDING PRINCIPAL AMOUNT 
 The following notations in
respect of changes in the outstanding principal amount of this Note have been made: 
  

									
	 Date
	 	 Initial Principal Amount
	 	
Change in Outstanding
Principal Amount
	 	 New

Balance
	 	 Notation Made

by

  
 4CKE Inc. Equity and Incentive Compensation Plan

 Exhibit 10.22 
 CKE INC. 
 2012 EQUITY AND INCENTIVE COMPENSATION PLAN 

1. Purpose of the Plan 

The purpose of this 2012 Equity and Incentive Compensation Plan (the “Plan”) is to advance the interests of the Company and its
stockholders by providing a means (a) to attract, retain, and reward directors, officers and other employees of the Company and its Subsidiaries, (b) to link compensation to measures of the Company’s performance in order to provide
additional incentives, including stock-based incentives and cash-based incentives, to such persons for the creation of stockholder value, and (c) to enable such persons to acquire or increase a proprietary interest in the Company in order to
promote a closer identity of interests between such persons and the Company’s stockholders. 
 2. Definitions 

Capitalized terms used in the Plan and not defined elsewhere in the Plan shall have the meaning set forth in this Section. 

2.1 “Award” means a Cash-Based Award or a Share-Based Award. 

2.2 “Award Agreement” means a written document prescribed by the Committee and provided to a Participant evidencing the grant
of an Award under the Plan. 
 2.3 “Beneficiary” means the person(s) or trust(s) entitled by will or the laws of
descent and distribution to receive any rights with respect to an Award that survive such Participant’s death, provided that if at the time of a Participant’s death, the Participant had on file with the Committee a written designation of a
person(s) or trust(s) to receive such rights, then such person(s) (if still living at the time of the Participant’s death) or trust(s) shall be the “Beneficiary” for purposes of the Plan. 

2.4 “Board” means the Board of Directors of the Company. 

2.5 “Cash-Based Award” means a compensatory award made pursuant to the Plan pursuant to which a Participant receives, or has
the opportunity to receive, cash, other than an award pursuant to which the amount of cash is determined by reference to the value of a specific number of Shares. For the avoidance of doubt, Dividend-Equivalent Rights constitute Cash-Based Awards.

 2.6 “Code” means the Internal Revenue Code of 1986, as amended, including regulations thereunder and successor
provisions and regulations thereto. 
 2.7 “Committee” means the Compensation and Corporate Governance Committee of
the Board, or another committee appointed by the Board to administer the Plan or any part thereof, or the Board, where the Board is acting as the Committee or performing the functions of the Committee, as set forth in Section 3. 

 2.8 “Company” means CKE Inc., a company organized under the laws of the state of
Delaware. 
 2.9 “Dividend-Equivalent Right” means the right to receive an amount, calculated with respect to a
Share-Based Award, which is determined by multiplying the number of Shares subject to the applicable Award by the per-Share cash dividend, or the per-Share Fair Market Value (as determined by the Committee) of any dividend in consideration other
than cash, paid by the Company on Shares. 
 2.10 “Effective Date” means the date on which the Plan is approved by the
Company’s stockholders. 
 2.11 “Exchange Act” means the Securities Exchange Act of 1934, as amended. 

2.12 “Fair Market Value” means the last reported sale price of a Share during regular trading hours on the relevant date or (if
there were no trades on that date) the latest preceding date upon which a sale was reported by the composite transaction reporting system for securities listed on the New York Stock Exchange. 

2.13 “Full-Value Award” means any Share-Based Award granted under the Plan other than (a) a stock option that requires the
Participant to pay (in cash, foregone cash compensation, or other consideration, other than the performance of services, designated as acceptable by the Committee) at least the Fair Market Value of the Shares subject thereto as determined on the
date of grant of an Award or (b) a stock appreciation right that is based solely on the appreciation of the Shares underlying the Award from the Fair Market Value of the Shares as determined on the date of grant of the Award. 

2.14 “Non-Employee Director” means a member of the Board who is not otherwise employed by the Company or any Subsidiary.

 2.15 “Participant” means any employee, director or other individual who has been granted an Award under the Plan.

 2.16 “Share-Based Award” means a compensatory award made pursuant to the Plan pursuant to which a Participant
receives, or has the opportunity to receive, Shares, or receives, or has the opportunity to receive, cash, where the amount of cash is determined by reference to the value of a specific number of Shares. Share-Based Awards shall include, without
limitation, stock options, stock appreciation rights, restricted stock, restricted stock units, stock units, and bonus shares. 

2.17 “Shares” means common shares of the Company and such other securities as may be substituted or resubstituted for Shares
pursuant to Section 7. 
 2.18 “Subsidiary” means an entity that is, either directly or through one or more
intermediaries, controlled by the Company. 

  
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 3. Administration 
 3.1 Committee. The Committee shall administer the Plan, unless the Board shall appoint a different committee. Other provisions of the Plan notwithstanding, the Board may perform any function of the
Committee under the Plan, and that authority specifically reserved to the Board under the terms of the Plan, the Company’s Articles of Incorporation, By-Laws, or applicable law shall be exercised by the Board and not by the Committee. The Board
shall serve as the Committee in respect of any Awards made to any Non-Employee Director. 
 3.2 Powers and Duties of
Committee. In addition to the powers and duties specified elsewhere in the Plan, the Committee shall have full authority and discretion to: 
 (a) adopt, amend, suspend, and rescind such rules and regulations and appoint such agents as the Committee may deem necessary or advisable to administer the Plan, including rules and regulations relating
to sub-plans established for the purpose of satisfying applicable foreign laws; 
 (b) correct any defect or
supply any omission or reconcile any inconsistency in the Plan and to construe and interpret the Plan and any Award, rules and regulations, Award Agreement, or other instrument hereunder; 

(c) make determinations relating to eligibility for and entitlements in respect of Awards, and to make all factual
findings related thereto; and 
 (d) make all other decisions and determinations as may be required under the
terms of the Plan or as the Committee may deem necessary or advisable for the administration of the Plan. 
 All determinations
and decisions of the Committee shall be final and binding upon a Participant or any person claiming any rights under the Plan from or through any Participant, and the Participant or such other person may not further pursue his or her claim in any
court of law or equity or other arbitral proceeding. 
 3.3 Delegation by Committee. Except to the extent prohibited by
applicable law or the applicable rules of a stock exchange, or as provided in Section 5.2, the Committee may delegate, on such terms and conditions as it determines in its sole and absolute discretion, to one or more senior executives of the
Company (i) the authority to make grants of Awards to officers (other than executive officers) and employees of the Company and any Subsidiary or other individuals (other than Non-Employee Directors) who provide services to the Company or any
Subsidiary and (ii) other administrative responsibilities. Any such allocation or delegation may be revoked by the Committee at any time. 
 3.4 Limitation of Liability. Each member of the Committee shall be entitled to, in good faith, rely or act upon any report or other information furnished to him or her by any officer or other
employee of the Company or any Subsidiary, the Company’s independent certified public accountants, or any executive compensation consultant, legal counsel, or other professional retained by the Company to assist in the administration of the
Plan. No member of the Committee, nor any officer or employee of the Company acting on behalf of the Committee, 

  
 3 

 
shall be personally liable for any action, determination, or interpretation taken or made in good faith with respect to the Plan, and all members of the Committee and any officer or employee of
the Company acting on behalf of the Committee or members thereof shall, to the extent permitted by law, be fully indemnified and protected by the Company with respect to any such action, determination, or interpretation. 

4. Awards 
 4.1
Eligibility. The Committee shall have the discretion to select Award recipients from among the following categories of eligible recipients: (a) individuals who are employees (including officers) of the Company or any Subsidiary,
(b) Non-Employee Directors, and (c) other individuals who provide services to the Company or any Subsidiary. 
 4.2
Type of Awards. The Committee shall have the discretion to determine the type of Award to be granted to a Participant. The Committee is authorized to grant Awards as a bonus, or to grant Awards in lieu of obligations of the Company or any
Subsidiary to pay cash or grant other awards under other plans or compensatory arrangements, to the extent permitted by such other plans or arrangements. Shares issued pursuant to an Award in the nature of a purchase right (e.g., stock options)
shall be purchased for such consideration, paid for at such times, by such methods, and in such forms, including cash, Shares, other Awards, or other consideration, as the Committee shall determine. 

4.3 Terms and Conditions of Awards. The Committee shall determine the size of each Award to be granted (including, where
applicable, the number of Shares to which an Award will relate), and all other terms and conditions of each such Award (including, but not limited to, any exercise price, grant price, or purchase price, any restrictions or conditions relating to
transferability, forfeiture, exercisability, or settlement of an Award, and any schedule or performance conditions for the lapse of such restrictions or conditions, and accelerations or modifications thereof, based in each case on such
considerations as the Committee shall determine). The Committee may determine whether, to what extent, and under what circumstances an Award may be settled, or the exercise price of an Award may be paid, in cash, Shares, other Awards, or other
consideration, or an Award may be canceled, forfeited, or surrendered. The right of a Participant to exercise or receive a grant or settlement of any Award, and the timing thereof, may be subject to such performance conditions as may be specified by
the Committee. The Committee may use such business criteria and measures of performance as it may deem appropriate in establishing performance conditions, and may exercise its discretion to reduce or increase the amounts payable under any Award
subject to performance conditions, except as limited under Section 5.1 in the case of a Performance Award intended to qualify under Code Section 162(m). Notwithstanding the foregoing, (i) except with respect to Substitute Awards, the
price per Share at which Shares may be purchased upon the exercise of a stock option shall not be less than one hundred percent (100%) of the Fair Market Value on the date of grant of such stock option, (ii) except with respect to
Substitute Awards, with respect to stock appreciation rights, the price per Share from which stock appreciation is measured shall not be less than one hundred percent (100%) of the Fair Market Value of such Share on the date of grant of the
stock appreciation right, (iii) the period during which an Award may remain outstanding shall not exceed ten (10) years from the date the Award is granted, (iv) Dividend-Equivalent Rights shall not be granted with respect to stock
options or stock appreciation rights, 

  
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(v) Dividend-Equivalent Rights shall not be paid with respect to unvested performance shares and performance units (provided dividend equivalents may accrue on such unvested awards and be paid to
the extent the shares vest), and (v) any Awards granted to Non-Employee Directors shall be granted to all Non-Employee Directors on a non-discretionary basis based on a formula approved by the Committee. 

4.4 No Repricing of Stock Options or Stock Appreciation Rights. Notwithstanding anything in the Plan to the contrary, the
Committee may not reprice stock options or stock appreciation rights or cancel stock options or stock appreciation rights in exchange for a cash payment or another Award (except pursuant Section 7), nor may the Board amend the Plan to permit
such repricing or cancellation, unless the stockholders of the Company provide prior approval for such repricing or cancellation. The term “repricing” shall have the meaning given that term in Section 303A.08 of the New York Stock
Exchange Listed Company Manual, as in effect from time to time, and shall not include adjustments pursuant to Section 7 of the Plan. 
 4.5 Stand-Alone, Additional, Tandem, and Substitute Awards. Subject to Section 4.4, Awards granted under the Plan may, in the discretion of the Committee, be granted either alone or in
addition to, in tandem with, or in substitution or exchange for, any other Award or any award granted under another plan of the Company, any Subsidiary, or any business entity to be acquired by the Company or a Subsidiary, or any other right of a
Participant to receive payment from the Company or any Subsidiary. 
 5. Performance Awards 

5.1 Performance Awards Granted to Designated Covered Employees. If the Committee determines that an Award to be granted to an
eligible person who is designated by the Committee as likely to be a Covered Employee (as defined below in Section 5.3) should qualify as “performance-based compensation” for purposes of Code Section 162(m), the grant, exercise,
and/or settlement of such Award (a “Performance Award”) shall be contingent upon achievement of preestablished performance goals and other terms set forth in this Section 5.1. This Section 5.1 shall not apply to Awards that
otherwise qualify as “performance-based compensation” by reason of Regulation §1.162-27(e)(2)(vi) (relating to certain stock options and stock appreciation rights). 

(a) Performance Goals Generally. The performance goals for such Performance Awards shall consist of one or more business criteria
and a targeted level or levels of performance with respect to each such criteria, as specified by the Committee consistent with this Section 5.1. Performance goals shall be objective and shall otherwise meet the requirements of Code
Section 162(m) and regulations thereunder (including Regulation §1.162-27 and successor regulations thereto), including the requirement that the level or levels of performance targeted by the Committee result in the achievement of
performance goals being “substantially uncertain.” The Committee may determine that such Performance Awards shall be granted, exercised, and/or settled upon achievement of any one performance goal or that two or more of the performance
goals must be achieved as a condition to grant, exercise, and/or settlement of such Performance Awards. Performance goals may differ for Performance Awards granted to any one Participant or to different Participants. 

  
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 (b) Business Criteria. One or more of the following business criteria for the
Company, on a consolidated basis, and/or for specified Subsidiaries, divisions, or other business units of the Company (where the criteria are applicable), shall be used by the Committee in establishing performance goals for such Performance Awards:
(i) earnings per share; (ii) revenues; (iii) cash flow; (iv) cash flow return on investment; (v) return on net assets, return on assets, return on investment, return on capital, return on equity; profitability;
(vi) economic value added (“EVA”); (vii) operating margins or profit margins; (viii) income or earnings before or after taxes; pretax earnings; pretax earnings before interest, depreciation and amortization; operating
earnings; pretax operating earnings, before or after interest expense and before or after incentives, and extraordinary or special items; net income; (ix) total stockholder return or stock price; (x) book value per share; (xi) expense
management; improvements in capital structure; working capital; costs; (xii) same store sales; and (xiii) any of the above goals as compared to the performance of a published or special index deemed applicable by the Committee including,
but not limited to, the Standard & Poor’s 500 Stock Index or a group of comparator companies. EVA means the amount by which a business unit’s earnings exceed the cost of the equity and debt capital used by the business unit during
the performance period, as determined by the Committee. Income of a business unit may be before payment of bonuses, capital charges, non-recurring or extraordinary income or expense, and general and administrative expenses for the performance
period, if so specified by the Committee. 
 (c) Performance Period; Timing for Establishing Performance Award Terms.
Achievement of performance goals in respect of such Performance Awards shall be measured over a performance period as specified by the Committee. Performance goals, amounts payable upon achievement of such goals, and other material terms of
Performance Awards shall be established by the Committee (i) while the performance outcome for that performance period is substantially uncertain and (ii) no more than 90 days after the commencement of the performance period to which the
performance goal relates or, if less, the number of days which is equal to 25 percent of the relevant performance period. 
 (d)
Performance Award Pool. The Committee may establish a Performance Award pool, which shall be an unfunded pool, for purposes of measuring performance of the Company in connection with Performance Awards. The amount of such Performance Award
pool shall be based upon the achievement of a performance goal or goals based on one or more of the business criteria set forth in Section 5.1(b) hereof during the given performance period, as specified by the Committee in accordance with
Section 5.1(c) hereof. The Committee may specify the amount of the Performance Award pool as a percentage of any of such business criteria, a percentage thereof in excess of a threshold amount, or as another amount which need not bear a
strictly mathematical relationship to such business criteria. In such case, Performance Awards may be granted as rights to payment of a specified portion of the Award pool, and such grants shall be subject to the requirements of Section 5.1(c).

 (e) Settlement of Performance Awards; Other Terms. Settlement of such Performance Awards shall be in cash, Shares,
other Awards, in the discretion of the Committee. The Committee may, in its discretion, reduce the amount of a settlement otherwise to be made in connection with such Performance Awards, but may not exercise discretion to increase any such amount
payable to a Covered Employee in respect of a Performance Award subject to this Section 5.1. The Committee shall specify the circumstances in which such Performance Awards shall be paid or forfeited in the event of termination of employment by
the Participant prior to the end of a performance period or settlement of Performance Awards. 

  
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 (f) Impact of Extraordinary Items or Changes In Accounting. To the extent applicable,
the determination of achievement of performance goals for Performance Awards shall be made in accordance with U.S. generally accepted accounting principles (“GAAP”) and a manner consistent with the methods used in the Company’s
audited financial statements, and, unless the Committee decides otherwise within the period described in Section 5.1(c), without regard to (i) extraordinary items as determined by the Company’s independent public accountants in
accordance with GAAP, (ii) changes in accounting methods, or (iii) non-recurring acquisition expenses and restructuring charges. Notwithstanding the foregoing, in calculating operating earnings or operating income (including on a per share
basis), the Committee may, within the period described in Section 5.1(c), provide that such calculation shall be made on the same basis as reflected in a release of the Company’s earnings for a previously completed period as specified by
the Committee. 
 5.2 Written Determinations. Determinations by the Committee as to the establishment of performance
goals, the amount potentially payable in respect of Performance Awards, the achievement of performance goals relating to Performance Awards, and the amount of any final Performance Award shall be recorded in writing. Specifically, the Committee
shall certify in writing, in a manner conforming to applicable regulations under Code Section 162(m), prior to settlement of each Performance Award, that the performance goals and other material terms of the Performance Award upon which
settlement of the Performance Award was conditioned have been satisfied. The Committee may not delegate any responsibility relating to such Performance Awards, and the Board shall not perform such functions at any time that the Committee is composed
solely of Qualified Members. 
 5.3 Status of Section 5.1 Awards under Code Section 162(m). It is the intent of
the Company that Performance Awards under Section 5.1 constitute “performance-based compensation” within the meaning of Code Section 162(m) and regulations thereunder. Accordingly, the terms of Sections 5.1, 5.2 and 5.3,
including the definitions of Covered Employee and other terms used therein, shall be interpreted in a manner consistent with Code Section 162(m) and regulations thereunder. The foregoing notwithstanding, because the Committee cannot determine
with certainty whether a given Participant will be a Covered Employee with respect to a fiscal year that has not yet been completed, the term “Covered Employee” as used herein shall mean only a person designated by the Committee, at the
time of grant of a Performance Award, as likely to be a Covered Employee with respect to a specified fiscal year. If any provision of the Plan as in effect on the date of adoption of any agreements relating to Performance Awards does not comply or
is inconsistent with the requirements of Code Section 162(m) or regulations thereunder, such provision shall be construed or deemed amended to the extent necessary to conform to such requirements. 

6. Limitations on Awards 

6.1 Aggregate Number of Shares Available for Awards. The aggregate number of Shares that may be delivered to Participants or their
Beneficiaries pursuant to all Awards granted under the Plan shall not exceed 4,000,000 (the “Aggregate Share Limit”). 

  
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 6.2 Source of Shares. Shares of Common Stock issued under the Plan may be authorized
but unissued shares of Common Stock or reacquired shares of Common Stock, including shares purchased by the Company on the open market for purposes of the Plan. 
 6.3 Share Counting. 
 (a) The Aggregate Share Limit shall be reduced as
follows: (i) for each Share that is actually delivered pursuant to a Full-Value Award, the Aggregate Share Limit shall be reduced by two Shares (i.e., on a 1:2 ratio), (ii) for each Share that is actually delivered pursuant to a
Share-Based Award that is not a Full-Value Award (other than a Share-Based Award that is payable in cash), the Aggregate Share Limit shall be reduced by one Share (i.e., on a 1:1 ratio), (iii) for a stock-settled stock appreciation right, in
addition to the reduction described in clause (ii), upon exercise thereof, the Aggregate Share Limit shall be reduced by a number of Shares having a Fair Market Value equal to the base price or exercise price for the number of Shares so exercised,
and (iv) for each Share withheld by the Company to satisfy the exercise price or withholding taxes with respect to any Award described in clause (ii), the Aggregate Share Limit shall be reduced by one Share. 

(b) The Aggregate Share Limit shall be increased as follows: (i) for any Award that resulted in a reduction in the Aggregate Share
Limit pursuant to Section 6.3(a), the Aggregate Share Limit shall be increased, based on the applicable ratio set forth in Section 6.3(a), if any of the Shares issued pursuant to such Award are forfeited and returned to the Company for no
consideration, or are repurchased by the Company from the Participant for the price paid by the Participant for such Shares, and (ii) for any Shares that are tendered to the Company by a Participant in satisfaction of any withholding tax
obligation arising in connection with an Award described in clause (i) of Section 6.3(a), the Aggregate Share Limit shall be increased by each Share so tendered. 
 (c) The Aggregate Share Limit shall neither be increased nor decreased in respect of (i) the grant or settlement of any Cashed-Based Award, or any Share-Based Award to the extent settled in cash,
(ii) any Shares tendered by a Participant to satisfy the exercise price or withholding taxes of any Award described in clause (ii) of Section 6.3(a), (iii) Shares repurchased by the Company on the open market to satisfy the
obligation to deliver Shares pursuant to Awards, or (iv) the grant or settlement of Substitute Awards, as described in Section 6.6. 
 6.4 Per Participant Limitation on Share-Based Awards. In any calendar year, no Participant may be granted any Share-Based Awards that relate to more than 1,000,000 Shares. If the number of Shares
ultimately payable in respect of an Award is a function of future achievement of performance targets, then for purposes of this limitation, the number of Shares to which such Award relates shall equal the number of Shares that would be payable
assuming maximum performance was achieved. 
 6.5 Per Participant Limitation on Cash-Based Awards. In any calendar year,
no Participant may be granted Cash-Based Awards that can be settled for more than $1,000,000 in the aggregate. 

  
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 6.6 Acquisitions. In connection with the acquisition of any business by the Company
or any of its Subsidiaries, any outstanding equity grants with respect to stock of the acquired company may be assumed or replaced by Awards under the Plan upon such terms and conditions as the Committee determines in its sole discretion. Shares
subject to any such outstanding grants that are assumed or replaced by Awards under the Plan in connection with an acquisition (“Substitute Awards”) shall not reduce the Aggregate Share Limit, consistent with applicable stock exchange
requirements. Notwithstanding any provision of the Plan to the contrary, Substitute Awards shall have such terms as the Committee deems appropriate, including without limitation exercise prices or base prices on different terms than those described
herein. In the event that the Company assumes a stockholder-approved equity plan of an acquired company, available Shares under such assumed plan (after appropriate adjustments to reflect the transaction) may be issued pursuant to Award under this
Plan and shall not reduce the Aggregate Share Limit, subject to applicable stock exchange requirements. 
 7. Adjustments 

In the event of any change in the outstanding Shares by reason of any reorganization, recapitalization, merger, amalgamation,
consolidation, spin-off, combination or exchange of Shares, repurchase, liquidation, dissolution or other corporate exchange, any large, special and non-recurring dividend or distribution to stockholders, or other similar corporate transaction, the
Committee may make such substitution or adjustment, if any, as it deems to be equitable and in order to preserve, without enlarging, the rights of Participants, as to (a) the number and kind of Shares which may be delivered pursuant to Sections
6.1 and 6.4, (b) the ratios described in Section 6.3(a), (c) the number and kind of Shares subject to or deliverable in respect of outstanding Awards, and (d) the exercise price, grant price or purchase price relating to any
Award. The Committee will make such substitutions or adjustments including as described in (a), (b), (c) or (d) above as it deems fair and equitable to the Participants as a result of any Share dividend or split declared by the Company. In
addition, the Committee is authorized to make adjustments in the terms and conditions of, and the criteria included in, Awards (including cancellation of Awards in exchange for the intrinsic (i.e., in-the-money) value, if any, of the vested portion
thereof, substitution of Awards using securities or other obligations of a successor or other entity, acceleration of the expiration date for Awards, or adjustment to performance goals in respect of Awards) in recognition of unusual or nonrecurring
events (including, without limitation, events described in the preceding sentence, and acquisitions and dispositions of businesses and assets) affecting the Company, any Subsidiary or any business unit, or the financial statements of the Company or
any Subsidiary, or in response to changes in applicable laws, regulations, or accounting principles. Notwithstanding the foregoing, if any such event will result in the acquisition of all or substantially all of the Company’s outstanding
Shares, then if the document governing such acquisition (e.g., merger agreement) specifies the treatment of outstanding Awards, such treatment shall govern without the need for any action by the Committee. 

8. General Provisions 

8.1 Compliance with Laws and Obligations. The Company shall not be obligated to issue or deliver Shares in connection with any
Award or take any other action under the Plan in a transaction subject to the registration requirements of any applicable securities law, any 

  
 9 

 
requirement under any listing agreement between the Company and any securities exchange or automated quotation system, or any other law, regulation, or contractual obligation of the Company,
until the Company is satisfied that such laws, regulations, and other obligations of the Company have been complied with in full. Certificates representing Shares issued under the Plan will be subject to such stop-transfer orders and other
restrictions as may be applicable under such laws, regulations, and other obligations of the Company, including any requirement that a legend or legends be placed thereon. 
 8.2 Limitations on Transferability. Awards and other rights under the Plan will not be transferable by a Participant except to a Beneficiary in the event of the Participant’s death (to the
extent any such Award, by its terms, survives the Participant’s death), and, if exercisable, shall be exercisable during the lifetime of a Participant only by such Participant or his guardian or legal representative; provided, however, that, if
and only to the extent permitted by the Committee, Awards and other rights hereunder may be transferred during the lifetime of the Participant, to family members (and trusts or other entities for the benefit of Participants and family members) for
purposes of the Participant’s estate planning, or to charities for charitable purposes (in each case as determined by the Committee), and may be exercised by such transferees in accordance with the terms of such Award. Awards and other rights
under the Plan may not be pledged, mortgaged, hypothecated, or otherwise encumbered, and shall not be subject to the claims of creditors. A Beneficiary, transferee, or other person claiming any rights under the Plan from or through any Participant
shall be subject to all terms and conditions of the Plan and any Award Agreement applicable to such Participant, except as otherwise determined by the Committee, and to any additional terms and conditions deemed necessary or appropriate by the
Committee. 
 8.3 No Right to Continued Employment; Leaves of Absence. Neither the Plan, the grant of any Award, nor any
other action taken hereunder shall be construed as giving any employee, consultant, director, or other person the right to be retained in the employ or service of the Company or any of its Subsidiaries (for the vesting period or any other period of
time), nor shall it interfere in any way with the right of the Company or any of its Subsidiaries to terminate any person’s employment or service at any time. Unless otherwise specified in the applicable Award Agreement and to the extent
consistent with Code Section 409A, (a) an approved leave of absence shall not be considered a termination of employment or service for purposes of an Award under the Plan, and (b) any Participant who is employed by or performs
services for a Subsidiary shall be considered to have terminated employment or service for purposes of an Award under the Plan if such Subsidiary is sold or no longer qualifies as a Subsidiary of the Company, unless such Participant remains employed
by the Company or another Subsidiary. 
 8.4 Taxes. The Company and any Subsidiary is authorized to withhold from any
delivery of Shares in connection with an Award, any other payment relating to an Award, or any payroll or other payment to a Participant, amounts of withholding and other taxes due or potentially payable in connection with any transaction involving
an Award, and to take such other action as the Committee may deem advisable to enable the Company, its Subsidiaries and Participants to satisfy obligations for the payment of withholding taxes and other tax obligations relating to any Award. This
authority shall include authority to withhold or receive Shares or other consideration and to require Participants to make cash payments in respect thereof in satisfaction of withholding tax obligations. 

  
 10 

 8.5 Changes to the Plan and Awards. The Board may amend, suspend, discontinue, or
terminate the Plan or the Committee’s authority to grant Awards under the Plan without the consent of stockholders or Participants, except that any amendment shall be subject to the approval of the Company’s stockholders at or before the
next annual meeting of stockholders for which the record date is after the date of such Board action if (a) it materially modifies the terms of the Plan or (b) such stockholder approval is required by any applicable law, regulation or
stock exchange rule. The Board may otherwise, in its discretion, determine to submit other such amendments to stockholders for approval; provided, however, that, without the consent of an affected Participant, no such action may materially impair
the rights of such Participant under any Award theretofore granted. The Committee may amend, suspend, discontinue, or terminate any Award theretofore granted and any Award Agreement relating thereto; provided, however, that, without the consent of
an affected Participant, no such action may materially impair the rights of such Participant under such Award. Any action taken by the Committee pursuant to Section 7 shall not be treated as an action described in this Section 8.5.
Notwithstanding anything in the Plan to the contrary, the Board may amend the Plan and Awards in such manner as it deems appropriate in the event of a change of applicable law or regulations. 

8.6 No Right to Awards; No Stockholder Rights. No Participant or other person shall have any claim to be granted any Award under
the Plan, and there is no obligation for uniformity of treatment of Participants, employees, consultants, or directors. No Award shall confer on any Participant any of the rights of a stockholder of the Company unless and until Shares are duly
issued or transferred and delivered to the Participant in accordance with the terms of the Award. 
 8.7 Unfunded Status of
Awards; Creation of Trusts. The Plan is intended to constitute an “unfunded” plan for incentive compensation. With respect to any payments not yet made to a Participant pursuant to an Award, nothing contained in the Plan or any Award
shall give any such Participant any rights that are greater than those of a general creditor of the Company; provided, however, that the Committee may authorize the creation of trusts or make other arrangements to meet the Company’s obligations
under the Plan to deliver cash, Shares, other Awards, or other consideration pursuant to any Award, which trusts or other arrangements shall be consistent with the “unfunded” status of the Plan unless the Committee otherwise determines.

 8.8 Nonexclusivity of the Plan. Neither the adoption of the Plan by the Board nor the submission of the Plan or of any
amendment to stockholders for approval shall be construed as creating any limitations on the power of the Board to adopt such other compensatory arrangements as it may deem desirable, including the granting of awards otherwise than under the Plan,
and such arrangements may be either applicable generally or only in specific cases. 
 8.9 No Fractional Shares. No
fractional Shares shall be issued or delivered pursuant to the Plan or any Award. The Committee shall determine whether cash, or Award, or other property shall be issued or paid in lieu of fractional shares or whether such fractional shares or any
rights thereto shall be forfeited or otherwise eliminated. 
 8.10 Company Policies. All Awards granted under the Plan
shall be subject to any applicable clawback or recoupment policies, share trading policies and other policies that may be implemented by the Board from time to time. 

  
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 8.11 Successors and Assigns. The Plan and Award Agreements may be assigned by the
Company to any successor to the Company’s business. The Plan and any applicable Award Agreement shall be binding on all successors and assigns of the Company and a Participant, including any permitted transferee of a Participant, the
Beneficiary or estate of such Participant and the executor, administrator or trustee of such estate, or any receiver or trustee in bankruptcy or representative of the Participant’s creditors. 

8.12 Governing Law. The Plan and all Award Agreements shall be governed by and construed in accordance with the laws of the State
of Delaware, without giving effect to any choice of law or conflict of law provision or rule (whether of the State of Delaware or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of
Delaware. 
 8.13 Severability of Provisions. If any provision of the Plan shall be held invalid or unenforceable, such
invalidity or unenforceability shall not affect any other provisions hereof, and the Plan shall be construed and enforced as if such provisions had not been included. 
 8.14 Plan Termination. Unless earlier terminated by the Board, the Plan shall terminate on the day before the tenth anniversary of the later of the Effective Date or the date of any subsequent
stockholder approval of the Plan. Upon any such termination of the Plan, no new authorizations of grants of Awards may be made, but then-outstanding Awards shall remain outstanding in accordance with their terms, and the Committee otherwise shall
retain its full powers under the Plan with respect to such Awards. 
 8.15 Section 409A. Notwithstanding the other
provisions hereof, the Plan and the Awards are intended to comply with the requirements of Code Section 409A, to the extent applicable. Accordingly, all provisions herein and with respect to any Awards shall be construed and interpreted such
that the Award either (a) qualifies for an exemption from the requirements of Code Section 409A or (b) satisfies the requirements of Code Section 409A to the maximum extent possible; provided, however, that in no event shall the
Company be obligated to reimburse a Participant or Beneficiary for any additional tax (or related penalties and interest) incurred by reason of application of Code Section 409A, and the Company makes no representations that Awards are exempt
from or comply with Code Section 409A and makes no undertakings to ensure or preclude that Code Section 409A will apply to any Awards. If an Award is subject to Code Section 409A, (i) distributions shall only be made in a manner
and upon an event permitted under Code Section 409A, (ii) payments to be made upon a termination of employment shall only be made upon a “separation from service” under Code Section 409A, (iii) unless the Award
Agreement specifies otherwise, each installment payment shall be treated as a separate payment for purposes of Code Section 409A, and (iv) in no event shall a participant, directly or indirectly, designate the calendar year in which a
distribution is made except in accordance with Code Section 409A. Notwithstanding anything herein to the contrary, in the event that any Awards constitute nonqualified deferred compensation under Code Section 409A, if (x) the
Participant is a “specified employee” of the Company as of the specified employee identification date for purposes of Code Section 409A (as determined in accordance with the policies and procedures adopted by the Company) and
(y) the delivery of any cash or Shares payable pursuant to an Award is required to be delayed for a period of six months after separation from service pursuant to Code Section 409A, such cash or Shares shall be paid within 15 days after
the end of the six-

  
 12 

 
month period. If the Participant dies during such six-month period, the amounts withheld on account of Code Section 409A shall be paid to the Participant’s Beneficiary within 30 days of
the Participant’s death. The Committee shall have the discretion to provide for the payment of an amount equivalent to interest, at such rate or rates fixed by the Committee, on any delayed payment. The determination of key employees, including
the number and identity of persons considered key employees and the identification date, shall be made by the Committee or its delegate each year in accordance with Code Section 416(i) and the “specified employee” requirements of Code
Section 409A. 

  
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