Document:

Credit Agreement

 Exhibit 10.1 
 EXECUTION VERSION 
  

 
 $3,000,000,000 

CREDIT AGREEMENT 
 Dated as of November 16, 2012 
 among 

MASTERCARD INCORPORATED, 
 as Borrower 
 The Several Lenders 

from Time to Time Parties Hereto 
 CITIBANK, N.A., 
 as Managing Administrative Agent 

and 

JPMORGAN CHASE BANK, N.A., 
 as Administrative Agent 
 CITIGROUP GLOBAL MARKETS INC. and

 J.P. MORGAN SECURITIES LLC, 
 as Lead Arrangers 
 BANK OF CHINA, NEW YORK BRANCH, 

LLOYDS SECURITIES INC., 
 RBS SECURITIES INC., 
 THE BANK OF TOKYO-MITSUBISHI UFJ, LTD., and

 U.S. BANK, NATIONAL ASSOCIATION, 
 as Joint Lead Arrangers and 
 Documentation Agents 

 
  

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
		
	 SECTION 1. DEFINITIONS
	  	 	1	  
	 1.1
	 	 Defined Terms
	  	 	1	  
	 1.2
	 	 Other Definitional Provisions
	  	 	18	  
		
	 SECTION 2. AMOUNT AND TERMS OF LOANS
	  	 	19	  
	 2.1
	 	 Revolving Credit Commitments
	  	 	19	  
	 2.2
	 	 Procedure for Revolving Credit Borrowing
	  	 	19	  
	 2.3
	 	 Facility Fee
	  	 	20	  
	 2.4
	 	 Termination or Reduction of Commitments
	  	 	20	  
	 2.5
	 	 Repayment of Revolving Credit Loans; Evidence of Debt
	  	 	20	  
	 2.6
	 	 Optional Prepayments
	  	 	21	  
	 2.7
	 	 Conversion and Continuation Options
	  	 	22	  
	 2.8
	 	 CAF Advances
	  	 	22	  
	 2.9
	 	 Procedure for CAF Advance Borrowing
	  	 	22	  
	 2.10
	 	 CAF Advance Payments
	  	 	25	  
	 2.11
	 	 Evidence of Debt
	  	 	26	  
	 2.12
	 	 Certain Restrictions
	  	 	26	  
	 2.13
	 	 Minimum Amounts of Tranches
	  	 	26	  
	 2.14
	 	 Interest Rates and Payment Dates
	  	 	26	  
	 2.15
	 	 Computation of Interest and Fees
	  	 	27	  
	 2.16
	 	 Inability to Determine Interest Rate
	  	 	27	  
	 2.17
	 	 Pro Rata Treatment and Payments
	  	 	28	  
	 2.18
	 	 Swing Line Commitment
	  	 	29	  
	 2.19
	 	 Illegality
	  	 	32	  
	 2.20
	 	 Requirements of Law
	  	 	32	  
	 2.21
	 	 Taxes
	  	 	34	  
	 2.22
	 	 Indemnity
	  	 	36	  
	 2.23
	 	 Commitment Increases
	  	 	36	  
	 2.24
	 	 Commitment Extensions
	  	 	37	  
	 2.25
	 	 Replacement of Lenders
	  	 	39	  
	 2.26.
	 	 Defaulting Lenders
	  	 	39	  
	 2.27.
	 	 Defaulting Lender Cure
	  	 	41	  
		
	 SECTION 3. REPRESENTATIONS AND WARRANTIES
	  	 	42	  
	 3.1
	 	 Financial Condition
	  	 	42	  
	 3.2
	 	 No Change
	  	 	42	  
	 3.3
	 	 Existence; Compliance with Law
	  	 	42	  
	 3.4
	 	 Corporate Power; Authorization; Enforceable Obligations
	  	 	43	  
	 3.5
	 	 No Legal Bar
	  	 	43	  
	 3.6
	 	 No Material Litigation
	  	 	43	  
	 3.7
	 	 No Default
	  	 	43	  

  
 i 

							
	 3.8
	 	 Ownership of Property; Liens
	  	 	44	  
	 3.9
	 	 Intellectual Property
	  	 	44	  
	 3.10
	 	 No Burdensome Restrictions
	  	 	44	  
	 3.11
	 	 Taxes
	  	 	44	  
	 3.12
	 	 Federal Margin Regulations
	  	 	44	  
	 3.13
	 	 ERISA
	  	 	45	  
	 3.14
	 	 Investment Company Act; Other Regulations
	  	 	45	  
	 3.15
	 	 Subsidiaries
	  	 	45	  
	 3.16
	 	 Purpose of Loans
	  	 	45	  
	 3.17
	 	 Environmental Matters
	  	 	46	  
		
	 SECTION 4. CONDITIONS PRECEDENT
	  	 	46	  
	 4.1
	 	 Conditions to Initial Loan
	  	 	46	  
	 4.2
	 	 Conditions to Each Loan
	  	 	48	  
		
	 SECTION 5. AFFIRMATIVE COVENANTS
	  	 	48	  
	 5.1
	 	 Financial Statements
	  	 	48	  
	 5.2
	 	 Certificates; Other Information
	  	 	49	  
	 5.3
	 	 Payment of Obligations
	  	 	49	  
	 5.4
	 	 Conduct of Business and Maintenance of Existence
	  	 	50	  
	 5.5
	 	 Maintenance of Property; Insurance
	  	 	50	  
	 5.6
	 	 Inspection of Property; Books and Records; Discussions
	  	 	50	  
	 5.7
	 	 Notices
	  	 	50	  
	 5.8
	 	 Environmental Laws
	  	 	51	  
		
	 SECTION 6. NEGATIVE COVENANTS
	  	 	52	  
	 6.1
	 	 Consolidated Leverage Ratio
	  	 	52	  
	 6.2
	 	 Limitation on Liens
	  	 	52	  
	 6.3
	 	 Limitation on Fundamental Changes
	  	 	54	  
	 6.4
	 	 Limitation on Transfer or Disposition of Assets
	  	 	54	  
	 6.5
	 	 Limitation on Transactions with Affiliates
	  	 	55	  
	 6.6
	 	 Limitation on Lines of Business
	  	 	55	  
		
	 SECTION 7. EVENTS OF DEFAULT
	  	 	55	  
		
	 SECTION 8. THE MANAGING ADMINISTRATIVE AGENT
	  	 	57	  
	 8.1
	 	 Appointment
	  	 	57	  
	 8.2
	 	 Delegation of Duties
	  	 	58	  
	 8.3
	 	 Exculpatory Provisions
	  	 	58	  
	 8.4
	 	 Reliance by Managing Administrative Agent
	  	 	58	  
	 8.5
	 	 Notice of Default
	  	 	59	  
	 8.6
	 	 Non-Reliance on Managing Administrative Agent and Other Lenders
	  	 	59	  
	 8.7
	 	 Indemnification
	  	 	59	  
	 8.8
	 	 Managing Administrative Agent in Its Individual Capacity
	  	 	60	  
	 8.9
	 	 Successor Managing Administrative Agent
	  	 	60	  
	 8.10
	 	 Substitute Managing Administrative Agent
	  	 	60	  

  
 ii 

							
	 8.11
	 	 Arrangers, Etc.
	  	 	61	  
		
	 SECTION 9. MISCELLANEOUS
	  	 	61	  
	 9.1
	 	 Amendments and Waivers
	  	 	61	  
	 9.2
	 	 Notices
	  	 	62	  
	 9.3
	 	 No Waiver; Cumulative Remedies
	  	 	65	  
	 9.4
	 	 Survival of Representations and Warranties
	  	 	65	  
	 9.5
	 	 Payment of Expenses and Taxes
	  	 	65	  
	 9.6
	 	 Successors and Assigns; Participations and Assignments
	  	 	66	  
	 9.7
	 	 Adjustments; Set-off
	  	 	70	  
	 9.8
	 	 Counterparts
	  	 	71	  
	 9.9
	 	 Severability
	  	 	71	  
	 9.10
	 	 Integration
	  	 	71	  
	 9.11
	 	 Termination of Commitments and Swing Line Commitments
	  	 	71	  
	 9.12
	 	 GOVERNING LAW
	  	 	71	  
	 9.13
	 	 Submission To Jurisdiction; Waivers
	  	 	72	  
	 9.14
	 	 Acknowledgements
	  	 	72	  
	 9.15
	 	 WAIVERS OF JURY TRIAL
	  	 	72	  
	 9.16
	 	 Confidentiality
	  	 	73	  
	 9.17
	 	 USA PATRIOT Act
	  	 	73	  
	 9.18
	 	 Termination of Agreement
	  	 	73	  

  
 iii

					
	SCHEDULES
			
	 1.2
	 	-	    	Commitments
	 3.6
	 	-	    	Material Litigation
	 3.15
	 	-	    	Subsidiaries
	 6.2(f)
	 	-	    	Liens

  

			
	EXHIBITS	 	
		
	A	 	Form of Revolving Credit Note
	B	 	Form of Swing Line Note
	C	 	Form of Closing Certificate
	D-1	 	Form of CAF Advance Request
	D-2	 	Form of CAF Advance Offer
	D-3	 	Form of CAF Advance Confirmation
	D-4	 	Form of CAF Advance Assignment
	E	 	Form of Swing Line Loan Participation Certificate
	F-1	 	Form of Opinion of General Counsel of Borrower
	F-2	 	Form of Opinion of Special New York Counsel to the Managing Administrative Agent
	G	 	Form of Borrowing Notice
	H	 	Form of Assignment and Acceptance
	I	 	Form of Compliance Certificate
	J-1	 	Form of New Lender Supplement
	J-2	 	Form of Commitment Increase Supplement
	K-1	 	Form of US Tax Certificate
	K-2	 	Form of US Tax Certificate
	K-3	 	Form of US Tax Certificate
	K-4	 	Form of US Tax Certificate

  
 iv 

 CREDIT AGREEMENT, dated as of November 16, 2012 among MASTERCARD INCORPORATED, a
Delaware corporation (the “Borrower”), the several banks and other financial institutions from time to time parties to this Agreement (the “Lenders”), CITIBANK, N.A., as managing administrative agent for the Lenders
hereunder (in such capacity, the “Managing Administrative Agent”), and JPMORGAN CHASE BANK, N.A., as administrative agent for the Lenders hereunder (in such capacity, the “Administrative Agent”). 

The parties hereto hereby agree as follows: 
 SECTION 1. DEFINITIONS 
 1.1 Defined Terms. As used in
this Agreement, the following terms shall have the following meanings: 
 “ABR”: a fluctuating
interest rate per annum in effect from time to time, which rate per annum shall at all times be equal to the highest of: 
 (i) the rate of interest announced publicly by Citibank in New York City from time to time as Citibank’s base rate; and 

(ii) for any day, 1.00% per annum above the London Interbank Offered Rate that would be in effect for a LIBOR Loan
having an Interest Period of one month that commences on the second Business Day following such day; and 
 (iii)
for any day, 0.50% per annum above the Federal Funds Rate in effect on such day. 
 Each change in any
interest rate provided for herein based upon the ABR resulting from a change in the ABR shall take effect at the time of such change in the ABR. 
 “ABR Loans”: Revolving Credit Loans hereunder, the rate of interest applicable to which is based upon the ABR. 

“Administrative Agent”: as defined in the preamble hereof. 

“Administrative Questionnaire”: an Administrative Questionnaire in a form supplied by the Managing
Administrative Agent. 
 “Affiliate”: as to any Person, any other Person (other than a
Subsidiary) which, directly or indirectly, is in control of, is controlled by, or is under common control with, such Person. For purposes of this definition, “control” of a Person means the power, directly or indirectly, either to
(a) vote 25% or more of the securities having ordinary voting power for the election of directors of such Person or (b) direct or cause the direction of the management and policies of such Person, whether by contract or otherwise.

 “Agreement”: this Credit Agreement, as amended,
supplemented or otherwise modified from time to time. 
 “Applicable Facility Fee Rate”: for any
Rating Level Period, the rate per annum set forth below opposite the reference to such Rating Level Period: 
  

			
	 Rating Level Period
	  	Applicable Facility
Fee Rate
		
	 Rating Level 1 Period
	  	0.06%
		
	 Rating Level 2 Period
	  	0.08%
		
	 Rating Level 3 Period
	  	0.10%
		
	 Rating Level 4 Period
	  	0.125%
		
	 Rating Level 5 Period
	  	0.175%

 Each change in the Applicable Facility Fee Rate resulting from a Rating Level Change shall be effective
on the effective date of such Rating Level Change. 
 “Applicable Margin”: for any Loan of any Type and while
any particular Rating Level Period applies, the rate per annum set forth below opposite the reference to the relevant Rating Level Period for Loans of such Type: 
  

					
	 Rating Level Period
	  	Applicable Margin
	 	  	LIBOR Loans	 	ABR Loans
			
	 Rating Level 1 Period
	  	0.69%	 	0.0%
			
	 Rating Level 2 Period
	  	0.795%	 	0.0%
			
	 Rating Level 3 Period
	  	0.90%	 	0.0%
			
	 Rating Level 4 Period
	  	1.00%	 	0.0%
			
	 Rating Level 5 Period
	  	1.20%	 	0.20%

 Each change in the Applicable Margin resulting from a Rating Level Change shall be effective on the
effective date of such Rating Level Change. 
 “Assignee”: as defined in subsection 9.6(c).

 “Available Commitment”: as to any Lender on any day, an amount equal to the excess, if any,
of (a) the amount of such Lender’s Commitment then in effect over (b) the aggregate of (i) the aggregate principal amount of all Revolving Credit Loans made by such Lender then outstanding and (ii) an amount equal to
such Lender’s Commitment Percentage of the aggregate principal amount of all Swing Line Loans then outstanding (after giving effect to any repayment of Swing Line Loans on such day). 

  
 2 

 “Board”: the Board of Governors of the Federal Reserve
System of the United States (or any successor). 
 “Borrower”: as defined in the preamble
hereof. 
 “Borrowing Date”: any Business Day specified in a notice pursuant to
Sections 2.2, 2.9 or 2.18 as a date on which the Borrower requests the Lenders or a Swing Line Lender, as the case may be, to make Loans hereunder. 
 “Business”: as defined in subsection 3.17(b). 

“Business Day”: a day other than a Saturday, Sunday or other day on which commercial banks in New York
City are authorized or required by law to close; provided that when such term is used to describe a day on which a borrowing, payment or interest rate determination is to be made in respect of a LIBOR Loan or a LIBOR CAF Advance, such day
shall also be a day on which dealings in dollar deposits and exchange between banks may be carried on in London, England. 
 “CAF Advance”: each CAF Advance made pursuant to Section 2.8. 
 “CAF Advance Availability Period”: the period from and including the Closing Date to and including the date which is 7 days prior to the Revolving Credit Termination Date. 

“CAF Advance Confirmation”: each confirmation by the Borrower of its acceptance of CAF Advance Offers,
which confirmation shall be substantially in the form of Exhibit D-3 and shall be delivered to the Managing Administrative Agent by facsimile transmission. 
 “CAF Advance Interest Payment Date”: as to each CAF Advance, each interest payment date specified by the Borrower for such CAF Advance in the related CAF Advance Request. 

“CAF Advance Maturity Date”: as to any CAF Advance, the date specified by the Borrower pursuant to
subsection 2.9(a) in its acceptance of the related CAF Advance Offer. 
 “CAF Advance
Offer”: each offer by a Lender to make CAF Advances pursuant to a CAF Advance Request, which offer shall contain the information specified in Exhibit D-2 and shall be delivered to the Managing Administrative Agent by telephone, immediately
confirmed by facsimile transmission. 
 “CAF Advance Request”: each request by the Borrower for
Lenders to submit bids to make CAF Advances, which request shall contain the information in respect of such requested CAF Advances specified in Exhibit D-1 and shall be delivered to the Managing Administrative Agent in writing, by facsimile
transmission, or by telephone, immediately confirmed by facsimile transmission. 

  
 3 

 “Capital Lease”: as applied to any Person, any lease of any
property (whether real, personal or mixed) by that Person as lessee which, in conformity with GAAP, is, or is required to be, accounted for as a capital lease on the balance sheet of that Person. 

“Capitalized Lease Obligations”: all obligations under Capital Leases of any Person, in each case taken
at the amount thereof accounted for as liabilities in accordance with GAAP. 
 “Capital Stock”:
any and all shares, interests, participations or other equivalents (however designated) of capital stock of a corporation, any and all equivalent ownership interests in a Person other than a corporation and any and all warrants or options to
purchase any of the foregoing. 
 “Citibank”: Citibank, N.A. 

“Closing Date”: the date on which the conditions precedent set forth in Section 4.1 shall be
satisfied. 
 “Code”: the Internal Revenue Code of 1986, as amended from time to time.

 “Commitment”: as to any Lender, the obligation of such Lender to make Revolving Credit Loans
to the Borrower hereunder in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Lender’s name on Schedule 1.2, as such amount may be reduced or increased from time to time in accordance
with the provisions of this Agreement. The aggregate amount of the Commitments of all Lenders on the date hereof is $3,000,000,000. 
 “Commitment Increase Offer”: as defined in subsection 2.23(a). 
 “Commitment Increase Supplement”: as defined in subsection 2.23(c). 
 “Commitment Percentage”: as to any Lender at any time, the percentage which such Lender’s Commitment then constitutes of the aggregate Commitments (or, at any time after the
Commitments shall have expired or terminated, the percentage which the aggregate principal amount of such Lender’s Revolving Credit Loans then outstanding constitutes of the aggregate principal amount of the Revolving Credit Loans then
outstanding). 
 “Commitment Period”: the period from and including the date hereof to but not
including the Revolving Credit Termination Date or such earlier date on which the Commitments shall terminate as provided herein. 
 “Commonly Controlled Entity”: an entity, whether or not incorporated, which is under common control with the Borrower within the meaning of Section 4001(a)(14) of ERISA or is part of
a group which includes the Borrower and which is treated as a single employer under Section 414(b) or (c) of the Code. 

  
 4 

 “Confidential Information”: information that the Borrower
or any of its Subsidiaries (or any of their representatives) furnishes to the Managing Administrative Agent or any Lender, but does not include any such information that is or becomes generally available to the public (other than as a result of a
breach of this Agreement) or that was available to the Managing Administrative Agent or such Lender on a non-confidential basis prior to its being furnished by the Borrower or any of its Subsidiaries (other than as a result of a breach of this
Agreement or to the extent obtained from a source known to the Managing Administrative Agent or such Lender to be bound by a confidentiality agreement with the Borrower or any of its Subsidiaries and to be in breach of such confidentiality
agreement). 
 “Consolidated Adjusted Debt”: at any date of determination thereof, the sum of
Indebtedness for the Borrower and its Subsidiaries determined without duplication to the extent that such Indebtedness would appear on a consolidated balance sheet (including footnotes, with items disclosed only in footnotes having the amounts for
purpose of this definition equal to the amounts, if any, disclosed in such footnotes) of the Borrower and its Subsidiaries as of such date prepared in accordance with GAAP. 

“Consolidated EBITDA”: for any period, Consolidated Net Income for such period plus, without
duplication and (except with respect to clause (j) below) to the extent reflected as a charge in the statement of such Consolidated Net Income for such period, the sum of the following items: (a) income tax expense, (b) interest
expense, amortization or write-off of debt discount and debt issuance costs and commissions, discounts and other fees and charges associated with indebtedness, (c) depreciation and amortization expense, (d) amortization, write-down or
write-off of intangibles (including, but not limited to, goodwill) and organization costs, (e) any extraordinary expenses or losses, (f) any restructuring charges or expenses, provided that, to the extent any amounts are added
pursuant to this clause (f) in determining Consolidated EBITDA in any period, Consolidated EBITDA will be reduced in the quarter in which such charges or expenses are incurred and in each of the immediately following seven quarters by an amount
equal to 1/8 of the amount of such charges or expenses so added back, (g) charges in connection with litigation, settlements or judgments, and out of pocket expenses incurred during such period in connection with the litigation, settlements or
judgments resulting in such charges during such period, (h) other expenses or charges to the extent that such expenses or charges do not represent a cash item in such period, (i) non-recurring expenses incurred in connection with any
acquisition or other investment (including joint ventures), disposition or issuance or incurrence of equity or debt, and (j) cash receipts in respect of income and gains subtracted from Consolidated EBITDA for any prior period pursuant to
clause (iii) below minus, (i) to the extent included in the statement of such Consolidated Net Income for such period, any extraordinary income or gains, (ii) cash payments made during such period in respect of items added back
to Consolidated EBITDA for any prior period pursuant to clause (h) above, (iii) to the extent included in the statement of such Consolidated Net Income for such period, income and gains to the extent that such income and gains do not
represent a cash item with respect to such period 

  
 5 

 
and (iv) the reversal of any reserve established for any prior period pursuant to clause (g) above. For the purposes of calculating Consolidated EBITDA for any period of four
consecutive fiscal quarters (each, a “Reference Period”), (x) if at any time during such Reference Period, the Borrower or any of its Subsidiaries shall have made any Material Disposition (as defined below), the Consolidated
EBITDA for such Reference Period shall be reduced by an amount equal to the Consolidated EBITDA (if positive) attributable to the property that is the subject of such Material Disposition for such Reference Period (as determined by the Borrower in
its reasonable good faith business judgment) or increased by an amount equal to the Consolidated EBITDA (if negative) attributable thereto for such Reference Period (as determined by the Borrower in its reasonable good faith business judgment) and
(y) if during such Reference Period, the Borrower or any of its Subsidiaries shall have made a Material Acquisition (as defined below) during such Reference Period, Consolidated EBITDA for such Reference Period shall be calculated after giving
pro forma effect (as determined by the Borrower in its reasonable good faith business judgment) to such Material Acquisition as if such acquisition occurred on the first day of such Reference Period. As used in this definition, “Material
Acquisition” means any acquisition of property or series of related acquisitions of property that (A) constitutes assets comprising all or substantially all of an operating unit of a business or constitutes all or substantially all of
the common equity interests of a business enterprise and (B) involves the payment of consideration by the Borrower and its Subsidiaries in excess of $500,000,000; and “Material Disposition” means any disposition of property or
series of related dispositions of property that yields gross proceeds to the Borrower or any of its Subsidiaries in excess of $500,000,000. 
 “Consolidated Leverage Ratio”: as at the end of any fiscal quarter of the Borrower, the ratio of (a) Consolidated Adjusted Debt on the last day of such fiscal quarter to
(b) Consolidated EBITDA for the period of four consecutive fiscal quarters ended on such day. 

“Consolidated Net Income”: for any period, the consolidated net income (or loss) of the Borrower and its
Subsidiaries, determined on a consolidated basis in accordance with GAAP. 
 “Contractual
Obligation”: as to any Person, any provision of any security issued by such Person or of any agreement, instrument or other undertaking to which such Person is a party or by which it or any of its property is legally bound. 

“Declined Amount”: as defined in subsection 2.23(a). 

“Declining Lender”: as defined in subsection 2.23(a). 

“Default”: any of the events specified in Section 7, whether or not any requirement for the giving
of notice, the lapse of time, or both, or any other condition, has been satisfied. 
 “Defaulting
Lender”: at any time, a Lender as to which the Managing Administrative Agent has notified the Borrower that (i) such Lender has failed to comply 

  
 6 

 
with its obligations under this Agreement to make a Loan, and/or make a payment to any Swing Line Lender and/or make a payment to the Managing Administrative Agent hereunder (each a
“funding obligation”), in each case within two Business Days of the date required under the terms of the Loan Documents (unless such Lender notifies the Managing Administrative Agent in writing that such failure is the result of
such Lender’s good faith determination that one or more conditions precedent to funding (each of which conditions precedent, together with any applicable default, shall be specifically identified in such writing) has not been satisfied (unless
waived)), (ii) such Lender has notified the Managing Administrative Agent in writing, or has stated publicly, that it will not comply with any such funding obligation hereunder, or has defaulted on its funding obligations, or has stated
publicly that it does not intend to comply with its funding obligations, under other loan agreements or credit agreements or other similar agreements generally (unless such writing or public statement relates to such Lender’s obligation to fund
a Loan hereunder and indicates that such position is based on such Lender’s good faith determination that a condition precedent (specifically identified and including any applicable default), to funding a Loan cannot be satisfied (unless
waived)), (iii) such Lender has, for not less than three Business Days, failed to confirm in writing to the Managing Administrative Agent and the Borrower, in response to a written request of the Managing Administrative Agent or the Borrower,
that it will comply with its funding obligations hereunder, provided that such Lender shall cease to be a Defaulting Lender upon receipt of such confirmation by the Managing Administrative Agent and the Borrower, or (iv) a Lender
Insolvency Event has occurred and is continuing with respect to such Lender (provided that neither the reallocation of funding obligations provided for in Section 2.26 as a result of a Lender’s being a Defaulting Lender nor the
performance by Non-Defaulting Lenders of such reallocated funding obligations will cause the relevant Defaulting Lender to become a Non-Defaulting Lender). Any determination that a Lender is a Defaulting Lender under any one or more of clauses
(i) through (iv) above will be made by the Managing Administrative Agent in its reasonable discretion acting in good faith. If the Borrower believes in good faith that a Lender should be determined by the Managing Administrative Agent to
be a Defaulting Lender and so notifies the Managing Administrative Agent, citing the reasons therefor, the Managing Administrative Agent shall determine in its reasonable discretion acting in good faith whether or not such Lender is a Defaulting
Lender. The Managing Administrative Agent will promptly send to all parties hereto a copy of any notice to the Borrower provided for in this definition. 
 “Dollars” and “$”: dollars in lawful currency of the United States. 
 “Environmental Laws”: any and all foreign, Federal, state, local or municipal laws, rules, orders, regulations, statutes, ordinances, codes, decrees, requirements of any Governmental
Authority or other Requirements of Law (including common law) regulating, relating to or imposing liability or standards of conduct concerning protection of human health or the environment, as now or may at any time hereafter be in effect.

 “ERISA”: the Employee Retirement Income Security Act of 1974, as amended from time to time.

  
 7 

 “Eurocurrency Reserve Requirements”: for any day as applied
to a LIBOR Loan or a LIBOR CAF Advance, the aggregate (without duplication) of the rates (expressed as a decimal fraction) of reserve requirements in effect on such day (including, without limitation, basic, supplemental, marginal and emergency
reserves under any regulations of the Board or other Governmental Authority having jurisdiction with respect thereto) dealing with reserve requirements prescribed for eurocurrency funding (currently referred to as “Eurocurrency
Liabilities” in Regulation D of the Board) maintained by a member bank of such system. 
 “Event of
Default”: any of the events specified in Section 7, provided that any requirement for the giving of notice, the lapse of time, or both, or any other condition, has been satisfied. 

“Existing Credit Agreement”: the Credit Agreement dated as of November 22, 2010, among the Borrower,
certain Lenders, Citibank, as Managing Administrative Agent, and JPMorgan Chase Bank, N.A., as Administrative Agent. 
 “Excluded Taxes”: any of the following Taxes imposed on or with respect to the Managing Administrative Agent or any Lender or required to be withheld or deducted from any amounts payable
to the Managing Administrative Agent or any Lender: 
 (i) Taxes that are net income taxes (however denominated),
branch profits taxes, and franchise taxes imposed on the Managing Administrative Agent or any Lender as a result of (A) a present or former connection between the Managing Administrative Agent or such Lender and the jurisdiction of the
Governmental Authority imposing such tax or any political subdivision or taxing authority thereof or therein (other than any such connection arising solely from the Managing Administrative Agent or such Lender having executed, delivered or performed
its obligations or received a payment under, or enforced, this Agreement or any Note), or (B) the Managing Administrative Agent or such Lender being organized under the laws of, or having its principal office or, in the case of any Lender, its
applicable lending office located in, the jurisdiction of the Governmental Authority imposing such tax or any political subdivision or taxing authority thereof or therein, 

(ii) Taxes that are attributable to such Lender’s failure to comply with the requirements of Section 2.21(b);

 (iii) United States withholding taxes resulting from any Requirement of Law in effect on the date on which
such Lender becomes a party to this Agreement, except to the extent that such Lender’s assignor (if any) was entitled, at the time of assignment, to receive additional amounts from the Borrower with respect to such United States withholding
taxes under Section 2.21(a); 
 (iv) Withholding Taxes attributable to such Lender changing its lending
office, except to the extent that such Lender was entitled, at the time of the designation of a new lending office, to receive additional amounts from the Borrower with respect to such Taxes under Section 2.21(a); and 

  
 8 

 (v) United States withholding taxes imposed under FATCA. 

“Extending Lender”: as defined in subsection 2.24(b). 

“FATCA”: Sections 1471 through 1474 of the Code, as of the date of this Agreement (or any amended or
successor version that is substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof and any agreements entered into pursuant to Section 1471(b)(1) of the
Code. 
 “Federal Funds Rate”: for any day, the rate per annum (rounded upward, if necessary, to
the nearest 1/100 of 1%) equal to the weighted average of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers on such day, as published by the Federal Reserve Bank of New
York on the Business Day next succeeding such day, provided that (i) if such day is not a Business Day, the Federal Funds Rate for such day shall be such rate on such transactions on the next preceding Business Day as so published on the
next succeeding Business Day, and (ii) if no such rate is so published on such next succeeding Business Day, the Federal Funds Rate for such day shall be the average of the quotations received by the Managing Administrative Agent from three
federal funds brokers of recognized standing selected by the Managing Administrative Agent. 
 “Fixed
Rate CAF Advance”: any CAF Advance made pursuant to a Fixed Rate CAF Advance Request. 
 “Fixed
Rate CAF Advance Request”: any CAF Advance Request requesting the Lenders to offer to make CAF Advances at a fixed rate of interest (as opposed to a rate composed of the London Interbank Offered Rate plus (or minus) a margin). 

“GAAP”: generally accepted accounting principles in the United States in effect from time to time.

 “Governmental Authority”: any nation or government, any state or other political subdivision
thereof and any entity exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government. 
 “Guarantee”: as to any Person (the “guaranteeing person”), any obligation of (a) the guaranteeing person or (b) another Person (including, without limitation,
any bank under any letter of credit) to induce the creation of which the guaranteeing person has issued a reimbursement, counterindemnity or similar obligation, in either case guaranteeing or in effect guaranteeing any Indebtedness, leases,
dividends or other obligations (the “primary obligations”) of any other third Person (the “primary obligor”) in any manner, whether directly or indirectly, including, without limitation, any obligation of the
guaranteeing person, whether or not contingent, (i) to purchase any such primary obligation or any property constituting direct or indirect security therefor, (ii) to advance or supply funds (1) for the purchase or payment of any such
primary obligation or (2) to maintain working capital or equity capital of the primary obligor or otherwise to maintain the net worth or solvency of the primary obligor, (iii) to purchase property,

  
 9 

 
securities or services primarily for the purpose of assuring the owner of any such primary obligation of the ability of the primary obligor to make payment of such primary obligation or
(iv) otherwise to assure or hold harmless the owner of any such primary obligation against loss in respect thereof; provided, however, that the term Guarantee shall not include endorsements of instruments for deposit or collection
in the ordinary course of business or obligations of the Borrower or its Subsidiaries in respect of settlement failures by one or more of its customers. The amount of any Guarantee of any guaranteeing person shall be deemed to be the lower of
(a) an amount equal to the stated or determinable amount of the primary obligation in respect of which such Guarantee is made and (b) the maximum amount for which such guaranteeing person may be liable pursuant to the terms of the
instrument embodying such Guarantee, unless such primary obligation and the maximum amount for which such guaranteeing person may be liable are not stated or determinable, in which case the amount of such Guarantee shall be such guaranteeing
person’s maximum reasonably anticipated liability in respect thereof as determined by the Borrower in good faith. 
 “Increasing Lender”: as defined in subsection 2.24(d). 
 “Indebtedness”: (a) all obligations for borrowed money (other than overdrafts incurred in the ordinary course of business), (b) the deferred purchase price of assets or services
which in accordance with GAAP would be shown on the liability side of the consolidated balance sheet of the Borrower and its Subsidiaries, (c) indebtedness of others secured by any lien on any property owned by the Borrower or any of its
Subsidiaries, whether or not such indebtedness has been assumed, (d) all Capitalized Lease Obligations, (e) all outstanding reimbursement obligations resulting from payments made under letters of credit, (f) all Guarantees of
Indebtedness of others (excluding Guarantees entered into in the ordinary course of business relating to settlement failures between customers of the Borrower and Guarantees in respect of obligations that have been fully collateralized by the
primary obligor), (g) the aggregate unpaid amounts owed with respect to settlements related to actual litigation or disputes underlying threatened litigation and final, non appealable judgments (it being understood that amounts deposited in
escrow with respect to any payments under any such settlements and judgments shall not be owed until such time as such settlement and judgments are final and non appealable) and (h) other than for purposes of the definition of
“Consolidated Adjusted Debt”, all obligations under Interest Rate Agreements; provided that (x) Indebtedness shall not include (i) trade payables and accrued expenses arising in the ordinary course of business,
(ii) indebtedness for borrowed money incurred in the ordinary course of business with respect to any settlement failure by one or more customers of the Borrower, including failure by one or more of its customers to meet merchant payment
obligations, so long as such indebtedness is repaid within six Business Days after the date such indebtedness is incurred and is not re-incurred within five Business Days after such repayment, (iii) settlements due to customers in the ordinary
course of business (excluding settlements referred to in clause (g) above), (iv) deferred taxes, (v) restricted security deposits held for customers in the ordinary course of business, (vi) underfunded pension liabilities and
(vii) obligations with respect to settlements and judgments (other than settlements and judgments referred to in clause (g) above) and (y) the amount of Indebtedness pursuant to clause (h) above shall be the amount that would be
payable upon termination of the relevant Interest Rate Agreement (after giving effect to netting). 

  
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 “Indemnified Taxes”: any Taxes imposed on or with respect
to any amounts payable to the Managing Administrative Agent or any Lender under this Agreement or any Notes, other than Excluded Taxes. 
 “Insolvency”: with respect to any Multiemployer Plan, the condition that such Multiemployer Plan is insolvent within the meaning of Section 4245 of ERISA. 

“Insolvent”: pertaining to a condition of Insolvency. 

“Interest Payment Date”: (a) as to any Loan, the rate of interest applicable to which is based upon
the ABR, the last day of each March, June, September and December, on the Revolving Credit Termination Date, (b) as to any LIBOR Loan or LIBOR CAF Advance having an Interest Period of three months or less, or any Fixed Rate CAF Advance having
an Interest Period of 90 days or less, the last day of such Interest Period and (c) as to any LIBOR Loan or any Fixed Rate CAF Advance having an Interest Period longer than three months or 90 days, respectively, each day which is three months
or 90 days, respectively, or a whole multiple thereof, after the first day of such Interest Period and the last day of such Interest Period. 
 “Interest Period”: (a) with respect to any LIBOR Loan: 
 (i) initially, the period commencing on the borrowing or conversion date, as the case may be, with respect to such LIBOR Loan and ending one week or one, two, three or six months thereafter, as selected
by the Borrower in its notice of borrowing or notice of conversion, as the case may be, given with respect thereto; and 
 (ii) thereafter, each period commencing on the last day of the next preceding Interest Period applicable to such LIBOR Loan and ending one week or one, two, three or six months thereafter, as selected by
the Borrower by irrevocable notice to the Managing Administrative Agent not less than three Business Days prior to the last day of the then current Interest Period with respect thereto; 

(b) with respect to any CAF Advance, the period specified in the CAF Advance Confirmation with respect to such CAF
Advance; 
 provided that all of the foregoing provisions relating to Interest Periods are subject to the following:

 (A) if any Interest Period would otherwise end on a day that is not a Business Day, such Interest Period shall
be extended to the next succeeding Business Day unless, in the case of LIBOR Loans or LIBOR CAF Advances, the result of such extension would be to carry such Interest Period into another calendar month in which event such Interest Period shall end
on the immediately preceding Business Day; 

  
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 (B) any Interest Period that would otherwise extend beyond the Revolving
Credit Termination Date shall end on the Revolving Credit Termination Date; and 
 (C) any Interest Period
pertaining to a LIBOR Loan or a LIBOR CAF Advance that begins on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the calendar month at the end of such Interest Period) shall end on the
last Business Day of a calendar month. 
 “Interest Rate Agreement”: any interest rate swap
agreement, interest rate cap agreement, interest rate collar agreement, interest rate futures contract, interest rate option contract or other similar agreement or arrangement designed to protect any Person against fluctuations in interest rates.

 “International”: MasterCard International Incorporated. 

“Lender Insolvency Event”: (i) a Lender or its Parent Company has been adjudicated as, or determined
by any Governmental Authority having regulatory authority over such Person or its assets to be, insolvent, or (ii) a Lender or its Parent Company is the subject of a bankruptcy, insolvency, reorganization, liquidation or similar proceeding, or
a receiver, trustee, conservator, intervenor or sequestrator or the like has been appointed for a Lender or its Parent Company, or a Lender or its Parent Company has taken any action in furtherance of or indicating its consent to or acquiescence in
any such proceeding or appointment; provided that a Lender shall not be a Defaulting Lender solely by virtue of the ownership or acquisition of any equity interest in that Lender or any direct or indirect Parent Company thereof by a
Governmental Authority, so long as such ownership interest does not result in or provide such Lender with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or
permits such Lender (or such Governmental Authority) to reject or repudiate, disavow or disaffirm any contracts or agreements made with such Lender. 
 “LIBOR CAF Advance”: any CAF Advance made pursuant to a LIBOR CAF Advance Request. 
 “LIBOR CAF Advance Request”: any CAF Advance Request requesting the Lenders to offer to make CAF Advances at an interest rate equal to the London Interbank Offered Rate plus (or minus) a
margin. 
 “LIBOR Loans”: Revolving Credit Loans hereunder the rate of interest applicable to
which is based upon the London Interbank Offered Rate. 
 “Lien”: any mortgage, pledge,
hypothecation, assignment, deposit arrangement, encumbrance, lien (statutory or other), charge or other security interest or any preference, priority or other security agreement or preferential arrangement of any kind or nature

  
 12 

 
whatsoever intended to protect creditors against loss (including, without limitation, any conditional sale or other title retention agreement and any Capital Lease having substantially the same
economic effect as any of the foregoing). 
 “Loan”: any Revolving Credit Loan, CAF Advance or
Swing Line Loan made by any Lender pursuant to this Agreement. 
 “Loan Documents”: this
Agreement and any Notes issued hereunder. 
 “London Interbank Offered Base Rate”: with respect
to each day during each Interest Period pertaining to a LIBOR Loan or a LIBOR CAF Advance, the rate appearing on Reuters Screen LIBOR01 (or on any successor or substitute page of such service, or any successor to or substitute for such service,
providing rate quotations comparable to those currently provided on such page of such Service, as determined by the Managing Administrative Agent from time to time for purposes of providing quotations of interest rates applicable to Dollar deposits
in the London interbank market) at approximately 11:00 A.M., London time, two Business Days prior to the commencement of such Interest Period, as the rate for dollar deposits with a maturity comparable to such Interest Period. In the event that such
rate is not available at such time for any reason, then the “London Interbank Offered Base Rate” with respect to such LIBOR Loan or LIBOR CAF Advance for such Interest Period shall be the rate at which Dollar deposits of $5,000,000 and for
a maturity comparable to such Interest Period are offered by the principal London office of Citibank in immediately available funds in the London interbank market at approximately 11:00 A.M., London time, two Business Days prior to the commencement
of such Interest Period. 
 “London Interbank Offered Rate”: with respect
to each day during each Interest Period pertaining to a LIBOR Loan or a LIBOR CAF Advance, a rate per annum determined for such day in accordance with the following formula (rounded upward to the nearest 1/100th of 1%): 

 

					
		  	 London Interbank Offered Base Rate

        1.00 - Eurocurrency Reserve Requirements     
   
	  	

 “Managing Administrative Agent”: as defined in the preamble hereof.

 “Margin Stock”: margin stock within the meaning of Regulation U. 

“Material Adverse Effect”: a material adverse effect on (a) the business, assets, operations,
property or financial condition of the Borrower and its Subsidiaries taken as a whole (excluding those disclosed in any of the audited 2011 financial statements of the Borrower, the most recent Annual Report on Form 10-K of the Borrower and any
Quarterly Report on Form 10-Q of the Borrower and any Current Report on Form 8-K of the Borrower filed with the SEC subsequent to the date of the Borrower’s most recent Annual Report on Form 10-K prior to the date hereof or in any Schedules to
this Agreement as in effect on the date hereof and it being understood that a settlement failure by one or more customers of the Borrower shall not constitute an event, development or 

  
 13 

 
circumstance that has a “Material Adverse Effect”) or (b) the validity or enforceability of any of the Loan Documents or the material rights or remedies of the Managing
Administrative Agent or the Lenders thereunder, taken as a whole. 
 “Material Subsidiary”: at
any time, any Subsidiary (i) accounting, during the immediately preceding fiscal quarter of the Borrower, for more than 5% of the total revenues of the Borrower and its Subsidiaries on a consolidated basis or (ii) having, as at the last
day of such fiscal quarter, more than 5% of the total assets of the Borrower and its Subsidiaries on a consolidated basis, all determined in accordance with GAAP. 

“Materials of Environmental Concern”: any gasoline or petroleum (including crude oil or any fraction
thereof) or petroleum products or any hazardous or toxic substances, materials or wastes, defined or regulated as such in or under any Environmental Law, including, without limitation, asbestos, polychlorinated biphenyls and urea-formaldehyde
insulation. 
 “Moody’s”: Moody’s Investors Service, Inc., and its successors.

 “Moody’s Rating”: at any time, the long-term issuer rating (or, if such rating is not
available, the counterparty rating) of the Borrower then most recently announced and effective by Moody’s. 

“Multiemployer Plan”: a Plan which is a multiemployer plan as defined in Section 4001 (a)(3) of
ERISA and which is subject to Title IV of ERISA, to which the Borrower or any Commonly Controlled Entity is making or accruing an obligation to make contributions, or has within any of the preceding six plan years made or accrued an obligation
to make contributions. 
 “New Lender”: as defined in subsection 2.23(b). 

“New Lender Supplement”: as defined in subsection 2.23(b). 

“Non-Defaulting Lender”: at any time, a Lender that is not a Defaulting Lender. 

“Notes”: the collective reference to the Revolving Credit Notes and the Swing Line Note. 

“Parent Company” means, with respect to a Lender, the bank holding company (as defined in Regulation Y),
if any, of such Lender, and/or any Person owning, beneficially or of record, directly or indirectly, a majority of the shares of such Lender. 
 “Participant”: as defined in subsection 9.6(b). 

“PBGC”: the Pension Benefit Guaranty Corporation established pursuant to Subtitle A of Title IV of
ERISA. 

  
 14 

 “Person”: an individual, partnership, corporation, business
trust, joint stock company, trust, unincorporated association, joint venture, Governmental Authority or other entity of whatever nature. 
 “Plan”: at a particular time, any employee benefit plan which is covered by ERISA and in respect of which the Borrower or a Commonly Controlled Entity is (or, if such plan were terminated
at such time, would under Section 4069 of ERISA be deemed to be) an “employer” as defined in Section 3(5) of ERISA. 
 “Properties”: as defined in Section 3.17. 
 “Rating
Level Change”: a change in the S&P Rating or the Moody’s Rating, as applicable (other than as a result of a change in the rating system of S&P or Moody’s, as applicable) that results in the change from one Rating Level
Period to another, which Rating Level Change shall be effective on the date on which the relevant change in the S&P Rating or the Moody’s Rating, as applicable, is first announced and effective by S&P or Moody’s, as applicable. If
the rating system of Moody’s or S&P shall change, the Borrower and the Managing Administrative Agent shall negotiate in good faith to amend this definition with the consent of the Required Lenders to reflect such changed rating system and,
pending the effectiveness of any such amendment, the Rating Level Period shall be determined by reference to the rating assigned by the other rating agency. If the rating systems of both Moody’s and S&P shall change, the Borrower and the
Managing Administrative Agent shall negotiate in good faith to amend this definition with the consent of the Required Lenders to reflect such changed rating systems and (i) pending the effectiveness of any such amendment, the Rating Level
Period shall be determined by reference to the rating most recently in effect prior to such change and (ii) upon the effectiveness of any such amendment, such amendment shall be deemed to have become effective on the date of such change in the
rating systems of Moody’s and S&P (with any additional amount owing by the Borrower hereunder by reason of any retroactive adjustment in the Applicable Facility Fee Rate or the Applicable Margin to be paid by the Borrower not later than ten
Business Days after such effectiveness and any amount to be refunded to the Borrower by any Lender hereunder by reason of any such retroactive adjustment to be deducted by the Borrower from its next payments hereunder to or for the account of such
Lender). 
 “Rating Level Period”: a Rating Level 1 Period, a Rating Level 2 Period, a
Rating Level 3 Period, a Rating Level 4 Period or a Rating Level 5 Period; provided that: 
  

	 	(i)	“Rating Level 1 Period”: a period during which the S&P Rating is A+ or better or the Moody’s Rating is A1 or better; 

 

	 	(ii)	“Rating Level 2 Period”: a period during which the S&P Rating is A or the Moody’s Rating is A2; 

 

	 	(iii)	“Rating Level 3 Period”: a period during which the S&P Rating is A- or the Moody’s Rating is A3; 

 

	 	(iv)	“Rating Level 4 Period”: a period during which the S&P Rating is BBB+ or the Moody’s Rating is Baa1; 

  
 15 

	 	(v)	“Rating Level 5 Period”: a period that is neither a Rating Level 1 Period, a Rating Level 2 Period, a Rating Level 3 Period nor a Rating Level 4
Period; 

  

	 	(vi)	If during any period both an S&P Rating and a Moody’s Rating have been announced and are effective, if such S&P Rating and Moody’s Rating shall not be
equivalent to each other, the higher such rating shall be used to determine the Rating Level Period, provided that, if such S&P Rating and Moody’s Rating shall be separated by more than one level (it being acknowledged and agreed by
way of example that the ratings of “BBB+” and “BBB” are separated by one level), the lower such rating, adjusted up by one level, shall be used to determine the Rating Level Period. 

If Moody’s or S&P shall cease to issue debt ratings generally, then the Managing Administrative Agent and the Borrower shall negotiate in good
faith to agree upon a substitute rating agency (and to correlate the system of ratings of such substitute agency with that of the rating agency for which it is substituting) with the consent of the Required Lenders and (i) until such substitute
rating agency is agreed upon, the foregoing Rating Level Period (and any Rating Level Change) will be determined on the basis of the rating assigned by the other rating agency and (ii) after such substitute agency is agreed upon, the Rating
Level Period will be determined on the basis of the rating assigned by the other rating agency and such substitute rating agency. 
 “Register”: as defined in subsection 9.6(e). 

“Regulation T”: Regulation T of the Board as in effect from time to time. 

“Regulation U”: Regulation U of the Board as in effect from time to time. 

“Regulation X”: Regulation X of the Board as in effect from time to time. 

“Regulation Y”: Regulation Y of the Board as in effect from time to time. 

“Reorganization”: with respect to any Multiemployer Plan, the condition that such plan is in
reorganization within the meaning of Section 4241 of ERISA. 
 “Reportable Event”: any of
the events set forth in Section 4043(c) of ERISA, other than those events as to which the thirty day notice period is waived under PBGC Reg. § 4043. 

“Required Lenders”: at any time, Lenders the Commitment Percentages of which aggregate more than 50%.

 “Requirement of Law”: as to any Person, the certificate of incorporation and by-laws or other
organizational or governing documents of such Person, and any law, treaty, rule or regulation or determination of an arbitrator or a court or other Governmental Authority, in each case applicable to or binding upon such Person or any of its property
or to which such Person or any of its property is subject. 

  
 16 

 “Responsible Officer”: the president and chief executive
officer and the chief operating officer of the Borrower and, with respect to financial matters, the chief financial officer or the Treasurer or Assistant Treasurer of the Borrower. 

“Revolving Credit Loans”: as defined in Section 2.1. 

“Revolving Credit Note”: as defined in subsection 2.5(e). 

“Revolving Credit Termination Date”: November 16, 2017, as extended from time to time pursuant to
Section 2.24, or such earlier date as the Commitments shall terminate pursuant to the terms hereof; provided that if the Revolving Credit Termination Date would otherwise fall on a day that is not a Business Day, the Revolving Credit
Termination Date shall be the immediately preceding Business Day. 
 “S&P”:
Standard & Poor’s Financial Services LLC, and its successors. 
 “S&P Rating”:
at any time, the long-term issuer rating (or, if such rating is not available, the counterparty rating) of the Borrower then most recently announced and effective by S&P. 

“Single Employer Plan”: any Plan which is covered by Title IV of ERISA, but which is not a
Multiemployer Plan. 
 “Subsidiary”: as to any Person, a corporation, partnership or other
entity of which a majority of the Voting Shares are at the time owned, directly or indirectly through one or more intermediaries, or both, by such Person. Unless otherwise qualified, all references to a “Subsidiary” or to
“Subsidiaries” in this Agreement shall refer to a Subsidiary or Subsidiaries of the Borrower. 

“Swing Line Commitment”: a Swing Line Lender’s obligation to make Swing Line Loans pursuant to
Section 2.18. The amount of each Swing Line Lender’s Swing Line Commitment on the date hereof is $200,000,000. 
 “Swing Line Commitment Shortfall”: as defined in subsection 2.18(a). 
 “Swing Line Lenders”: Citibank, JPMorgan Chase Bank, N.A., Bank of China, New York Branch, Lloyds TSB Bank plc, The Royal Bank of Scotland plc, The Bank of Tokyo-Mitsubishi UFJ, Ltd. and
U.S. Bank, National Association, each in its capacity as a provider of Swing Line Loans, as well as each Lender designated to be a Swing Line Lender in accordance with subsection 2.18(a) and each Lender that is the assignee of a Swing Line
Commitment assigned pursuant to Section 9.6(c). 
 “Swing Line Loan Participation
Certificate”: a certificate in substantially the form of Exhibit E. 
 “Swing Line
Loans”: as defined in subsection 2.18(a). 
 “Swing Line Note”: as defined in
subsection 2.18(b). 

  
 17 

 “Swing Line Portion” as defined in subsection 2.26(c).

 “Taxes”: any present or future income, stamp or other taxes, levies, imposts, duties,
charges, fees, deductions or withholdings, now or hereafter imposed, levied, collected, withheld or assessed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto. 

“Tranche”: the collective reference to LIBOR Loans the then current Interest Periods with respect to all
of which begin on the same date and end on the same later date (whether or not such loans shall originally have been made on the same day); Tranches may be identified as “LIBOR Tranches”. 

“Transferee”: as defined in subsection 9.6(g). 

“Type”: as to any Revolving Credit Loan, its nature as an ABR Loan or a LIBOR Loan. 

“United States”: the United States of America. 

“Voting Shares”: as to any Person, shares of stock of or other ownership interests in such Person having
ordinary voting power (other than such stock or other ownership interests having such power only by reason of the happening of a contingency) to elect a majority of the board of directors (or similar managers) of such Person. 

1.2 Other Definitional Provisions. (a) Unless otherwise specified therein, all terms defined in this Agreement shall have the
defined meanings when used in any Notes or any certificate or other document made or delivered pursuant hereto. 
 (b) As used
herein and in any Notes, and any certificate or other document made or delivered pursuant hereto, accounting terms relating to the Borrower and its Subsidiaries not defined in Section 1.1 and accounting terms partly defined in Section 1.1,
to the extent not defined, shall have the respective meanings given to them under GAAP, as in effect from time to time. If the Borrower notifies the Managing Administrative Agent that the Borrower requests an amendment to any provision hereof to
eliminate or modify the effect of (x) any change occurring after the date hereof in GAAP or in the application or interpretation thereof on the operation of such provision or (y) any change in the last day of the first three fiscal
quarters of the Borrower in any fiscal year from March 31, June 30 or September 30 or the last day of the fiscal year of the Borrower from December 31 (or if the Managing Administrative Agent notifies the Borrower that the
Required Lenders request an amendment to any provision hereof for such purpose), regardless of whether any such notice is given before or after such change in GAAP or in the application thereof or in the last day of any fiscal quarter or fiscal
year, then such provision shall be interpreted (i) on the basis of GAAP, as in effect and applied immediately before such change shall have become effective or (ii) disregarding any such change in the last day of the fiscal quarter or
fiscal year of the Borrower, as the case may be, in each case until such notice shall have been withdrawn or such provision amended in accordance herewith. 

  
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 (c) The words “hereof”, “herein” and “hereunder” and words of
similar import when used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement, and Section, subsection, Schedule and Exhibit references are to this Agreement unless otherwise specified.

 (d) The meanings given to terms defined herein shall be equally applicable to both the singular and plural forms of such
terms. 
 (e) The words “asset” and “property” shall be construed to have the same meaning and effect and to
refer to any and all tangible and intangible assets and properties, including cash, securities, accounts and contract rights. 

SECTION 2. AMOUNT AND TERMS OF LOANS 
 2.1 Revolving Credit Commitments. (a) Subject to the terms and conditions hereof, each Lender severally agrees to make revolving credit loans (“Revolving Credit Loans”) to the
Borrower from time to time during the Commitment Period in an aggregate principal amount at any one time outstanding, when added to such Lender’s Commitment Percentage of all outstanding Swing Line Loans, not to exceed the amount of such
Lender’s Commitment, provided that the aggregate principal amount of all Loans outstanding at any time shall not exceed the aggregate amount of the Commitments at such time. During the Commitment Period the Borrower may use the
Commitments by borrowing, prepaying the Revolving Credit Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. 
 (b) The Revolving Credit Loans may from time to time be LIBOR Loans, ABR Loans, or a combination thereof, as determined by the Borrower and notified to the Managing Administrative Agent in accordance
with Sections 2.2 and 2.7. 
 2.2 Procedure for Revolving Credit Borrowing. The Borrower may borrow under the
Commitments during the Commitment Period on any Business Day, provided that the Borrower shall give the Managing Administrative Agent irrevocable notice (which notice must be received by the Managing Administrative Agent prior to
(a) 4:00 P.M., New York City time, three Business Days prior to the requested Borrowing Date, if all or any part of the requested Revolving Credit Loans are to be initially LIBOR Loans, or (b) 3:00 P.M., New York City time, on the same
Business Day of the requested Borrowing Date, otherwise), specifying (i) the amount to be borrowed, (ii) the requested Borrowing Date, (iii) whether the borrowing is to be of LIBOR Loans, ABR Loans, or a combination thereof and
(iv) if the borrowing is to be entirely or partly of LIBOR Loans, the respective amounts of each such Type of Revolving Credit Loan and the respective lengths of the initial Interest Periods therefor. Each borrowing under the Commitments shall
be in an amount equal to at least $10,000,000 or a whole multiple of $1,000,000 in excess thereof (or, if the then aggregate Available Commitments are less than $10,000,000, such lesser amount). Upon receipt of any such notice from the Borrower, the
Managing Administrative Agent shall promptly notify each Lender thereof. Except as contemplated by subsection 2.18(c), each Lender will make the amount of its pro rata share of each borrowing available to the Managing Administrative Agent

  
 19 

 
for the account of the Borrower at the office of the Managing Administrative Agent specified in Section 9.2 prior to 2:00 P.M., New York City time, to the extent the requested Revolving
Credit Loans are to be initially LIBOR Loans, or 4:00 P.M., New York City time, otherwise, on the Borrowing Date requested by the Borrower in funds immediately available to the Managing Administrative Agent. Such borrowing will then be made
available to the Borrower by the Managing Administrative Agent crediting the account of the Borrower on the books of such office with the aggregate of the amounts made available to the Managing Administrative Agent by the Lenders and in like funds
as received by the Managing Administrative Agent. 
 2.3 Facility Fee. The Borrower agrees to pay to the Managing
Administrative Agent for the account of each Lender a facility fee for the period from and including the first day of the Commitment Period to the Revolving Credit Termination Date, computed at a rate per annum equal to the Applicable Facility Fee
Rate on the average daily Commitment of such Lender, whether or not utilized, from and including the first day of the Commitment Period until the Revolving Credit Termination Date. Such facility fee shall be payable quarterly in arrears on the last
day of each March, June, September and December, on the Revolving Credit Termination Date or such earlier date as the Commitments shall terminate as provided herein, commencing on the first of such dates to occur after the date hereof. 

Anything herein to the contrary notwithstanding, during any period as a Lender is a Defaulting Lender, such Defaulting Lender will not be
entitled to any facility fees accruing during such period pursuant to this Section 2.3 on the amount of its Commitment equal to the average daily unutilized portion thereof during such period (without prejudice to the rights of the Swing Line
Lenders in respect of such facility fees). 
 2.4 Termination or Reduction of Commitments. The Borrower shall have the
right, upon not less than one Business Day’s notice to the Managing Administrative Agent, to terminate the Commitments or, from time to time, to reduce the amount of the Commitments, provided that (a) after giving effect to such
termination or reduction, the aggregate outstanding principal amount of the Loans shall not exceed the aggregate Commitments and (b) a notice of termination of the Commitments delivered by the Borrower may state that such notice is conditioned
upon the effectiveness of other credit facilities, in which case such notice (and any required prepayments) may be revoked by the Borrower (by notice to the Managing Administrative Agent on or prior to the specified effective date) if such condition
is not satisfied. Any such reduction shall be in an amount equal to $10,000,000 or a whole multiple of $1,000,000 in excess thereof and shall reduce permanently the Commitments then in effect. 

2.5 Repayment of Revolving Credit Loans; Evidence of Debt. (a) The Borrower hereby unconditionally promises to pay to the
Managing Administrative Agent for the account of each Lender the unpaid principal amount of each Revolving Credit Loan of such Lender on the Revolving Credit Termination Date (or such earlier date on which the Revolving Credit Loans become due and
payable pursuant to Section 7). The Borrower hereby further agrees to pay interest on the unpaid principal amount of the Revolving Credit Loans from time to time outstanding from the date hereof until payment in full thereof at the rates per
annum, and on the dates, set forth in Section 2.14. 

  
 20 

 (b) Each Lender shall maintain in accordance with its usual practice appropriate records
evidencing indebtedness of the Borrower to such Lender resulting from each Revolving Credit Loan of such Lender from time to time, including the amounts of principal and interest payable and paid to such Lender from time to time under this
Agreement. 
 (c) The Managing Administrative Agent shall maintain the Register pursuant to subsection 9.6(e), and a record
therein for each Lender, in which shall be recorded (i) the amount of each Revolving Credit Loan made hereunder, the Type thereof and each Interest Period applicable thereto, (ii) the amount of any principal or interest due and payable or
to become due and payable from the Borrower to each Lender hereunder and (iii) both the amount of any sum received by the Managing Administrative Agent hereunder from the Borrower and each Lender’s share thereof. 

(d) The entries made in the Register and the records of each Lender maintained pursuant to subsection 2.5(b) shall, to the extent
permitted by applicable law, be prima facie evidence of the existence and amounts of the obligations of the Borrower therein recorded; provided, however, that the failure of any Lender or the Managing Administrative Agent
to maintain the Register or any such record, or any error therein, shall not in any manner affect the obligation of the Borrower to repay (with applicable interest) the Revolving Credit Loans made to such Borrower by such Lender in accordance with
the terms of this Agreement. 
 (e) The Borrower agrees that, upon the request to the Managing Administrative Agent by any
Lender, the Borrower will execute and deliver to such Lender a promissory note of the Borrower evidencing the Revolving Credit Loans of such Lender, substantially in the form of Exhibit A with appropriate insertions as to date and principal amount
(a “Revolving Credit Note”). 
 2.6 Optional Prepayments. The Borrower may at any time and from time to
time prepay the Revolving Credit Loans, in whole or in part, without premium or penalty (subject to Section 2.22), upon at least two Business Days’ irrevocable notice to the Managing Administrative Agent, if such prepayment is to be
applied in whole or in part to LIBOR Loans, and upon same day notice otherwise (which notices shall be made on the relevant day not later than 11:00 A.M., New York City time), specifying the date and amount of prepayment and whether the prepayment
is of LIBOR Loans, or a combination of LIBOR and ABR Loans, and, if of a combination thereof, the amount allocable to each. Upon receipt of any such notice the Managing Administrative Agent shall promptly notify each Lender thereof. If any such
notice is given, the amount specified in such notice shall be due and payable on the date specified therein, together with any accrued interest to such date on the amount prepaid and any other amounts payable pursuant to Section 2.22,
provided that a notice of termination of the Commitments delivered by the Borrower may state that such notice is conditioned upon the effectiveness of other credit facilities, in which case such notice may be revoked by the Borrower (by
notice to the Managing Administrative Agent on or prior to the specified effective date) if such condition is not satisfied. Partial prepayments shall be in an aggregate principal amount of $10,000,000 or a whole multiple of $1,000,000 in excess
thereof. The Borrower shall not have the right to prepay any principal amount of any CAF Advance except as provided in subsection 2.10(a). Prepayments of any Swing Line Loan shall be as provided in subsection 2.18(a). 

  
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 2.7 Conversion and Continuation Options. (a) The Borrower may elect from time to
time to convert LIBOR Loans to ABR Loans by giving the Managing Administrative Agent at least three Business Days’ prior irrevocable notice of such election, provided that any such conversion of LIBOR Loans may only be made on the last day of
an Interest Period with respect thereto. The Borrower may elect from time to time to convert ABR Loans to LIBOR Loans by giving the Managing Administrative Agent at least three Business Days’ prior irrevocable notice of such election. Any such
notice of conversion to LIBOR Loans shall specify the length of the initial Interest Period or Interest Periods therefor. Upon receipt of any such notice the Managing Administrative Agent shall promptly notify each Lender thereof. All or any part of
outstanding LIBOR Loans and ABR Loans may be converted as provided herein, provided that (i) no Revolving Credit Loan may be converted into a LIBOR Loan when any Event of Default has occurred and is continuing and the Managing
Administrative Agent has or the Required Lenders have determined that such a conversion is not appropriate, and (ii) no Swing Line Loan may be converted into a loan that bears interest at any rate other than the ABR. 

(b) Any LIBOR Loans may be continued as such upon the expiration of the then current Interest Period with respect thereto by the Borrower
giving notice to the Managing Administrative Agent, in accordance with the applicable provisions of the term “Interest Period” set forth in Section 1.1, of the length of the next Interest Period to be applicable to such Revolving
Credit Loans, provided that no LIBOR Loan may be continued as such when any Event of Default has occurred and is continuing and the Managing Administrative Agent has or the Required Lenders have determined that such a continuation is not
appropriate; and provided, further, that if the Borrower shall fail to give such notice or if such continuation is not permitted such Revolving Credit Loans shall (in the case of failure to give such notice, if the Borrower would have
then been entitled to select a one month Interest Period for such LIBOR Loan) be automatically converted to LIBOR Loans with an Interest Period of one month on the last day of such then expiring Interest Period or (in all other cases) be converted
to ABR Loans. 
 2.8 CAF Advances. Subject to the terms and conditions of this Agreement, the Borrower may borrow CAF
Advances from time to time on any Business Day during the CAF Advance Availability Period. CAF Advances may be borrowed in amounts such that the aggregate principal amount of all Loans outstanding at any time shall not exceed the aggregate amount of
the Commitments at such time. Within the limits and on the conditions hereinafter set forth with respect to CAF Advances, the Borrower may from time to time borrow, repay and reborrow CAF Advances. 

2.9 Procedure for CAF Advance Borrowing. (a) The Borrower shall request CAF Advances by delivering a CAF Advance Request to
the Managing Administrative Agent not later than 1:00 P.M., New York City time, four Business Days prior to the proposed Borrowing Date (in the case of a LIBOR CAF Advance Request), and not later than 11:00 A.M., New York City time, one Business Day
prior to the proposed Borrowing Date (in the case of a Fixed Rate CAF Advance Request). Each CAF Advance Request in respect of any Borrowing Date may solicit bids for CAF Advances on such Borrowing Date in an aggregate principal amount of
$10,000,000 or an integral multiple of $1,000,000 in excess thereof and having not more than three alternative CAF Advance Maturity Dates. The CAF Advance Maturity Date for each CAF Advance shall be the date set forth 

  
 22 

 
therefor in the relevant CAF Advance Request, which date shall be (i) not less than 7 days nor more than 60 days after the Borrowing Date therefor, in the case of a Fixed Rate CAF Advance,
(ii) one or two months after the Borrowing Date therefor, in the case of a LIBOR CAF Advance and (iii) not later than the Revolving Credit Termination Date, in the case of any CAF Advance. The Managing Administrative Agent shall notify
each Lender promptly by facsimile transmission of the contents of each CAF Advance Request received by the Managing Administrative Agent. 
 (b) In the case of a LIBOR CAF Advance Request, upon receipt of notice from the Managing Administrative Agent of the contents of such CAF Advance Request, each Lender may elect, in its sole discretion, to
offer irrevocably to make one or more CAF Advances at the applicable London Interbank Offered Rate plus (or minus) a margin determined by such Lender in its sole discretion for each such CAF Advance. Any such irrevocable offer shall be made by
delivering a CAF Advance Offer to the Managing Administrative Agent, before 10:30 A.M., New York City time, on the day that is three Business Days before the proposed Borrowing Date, setting forth: 

(i) the maximum amount of CAF Advances for each CAF Advance Maturity Date and the aggregate maximum amount of CAF Advances
for all CAF Advance Maturity Dates which such Lender would be willing to make (which amounts may, subject to Section 2.8, exceed such Lender’s Commitment); and 

(ii) the margin above or below the applicable London Interbank Offered Rate at which such Lender is willing to make each
such CAF Advance. 
 The Managing Administrative Agent shall advise the Borrower before 11:00 A.M., New York City time, on the
date which is three Business Days before the proposed Borrowing Date of the contents of each such CAF Advance Offer received by it. If the Managing Administrative Agent, in its capacity as a Lender, shall elect, in its sole discretion, to make any
such CAF Advance Offer, it shall advise the Borrower of the contents of its CAF Advance Offer before 10:15 A.M., New York City time, on the date which is three Business Days before the proposed Borrowing Date. 

(c) In the case of a Fixed Rate CAF Advance Request, upon receipt of notice from the Managing Administrative Agent of the contents of
such CAF Advance Request, each Lender may elect, in its sole discretion, to offer irrevocably to make one or more CAF Advances at a rate of interest determined by such Lender in its sole discretion for each such CAF Advance. Any such irrevocable
offer shall be made by delivering a CAF Advance Offer to the Managing Administrative Agent before 9:30 A.M., New York City time, on the proposed Borrowing Date, setting forth: 

(i) the maximum amount of CAF Advances for each CAF Advance Maturity Date, and the aggregate maximum amount for all CAF
Advance Maturity Dates, which such Lender would be willing to make (which amounts may, subject to Section 2.8, exceed such Lender’s Commitment); and 

  
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 (ii) the rate of interest at which such Leader is willing to make each such
CAF Advance. 
 The Managing Administrative Agent shall advise the Borrower before 10:00 A.M., New York City time, on the
proposed Borrowing Date of the contents of each such CAF Advance Offer received by it. If the Managing Administrative Agent, in its capacity as a Lender, shall elect, in its sole discretion, to make any such CAF Advance Offer, it shall advise the
Borrower of the contents of its CAF Advance Offer before 9:15 A.M., New York City time, on the proposed Borrowing Date. 
 (d)
Before 11:30 A.M., New York City time, three Business Days before the proposed Borrowing Date (in the case of CAF Advances requested by a LIBOR CAF Advance Request) and before 10:30 A.M., New York City time, on the proposed Borrowing Date (in the
case of CAF Advances requested by a Fixed Rate CAF Advance Request), the Borrower, in its absolute discretion, shall: 
 (i) cancel such CAF Advance Request by giving the Managing Administrative Agent telephone notice to that effect, or 
 (ii) by giving telephone notice to the Managing Administrative Agent (immediately confirmed by delivery to the Managing Administrative Agent of a CAF Advance Confirmation by facsimile transmission)
(A) subject to the provisions of subsection 2.9(e), accept one or more of the offers made by any Lender or Lenders pursuant to subsection 2.9(b) or subsection 2.9(c), as the case may be, and (B) reject any remaining offers made by
Lenders pursuant to subsection 2.9(b) or subsection 2.9(c), as the case may be. 
 (e) The Borrower’s acceptance of
CAF Advances in response to any CAF Advance Offers shall be subject to the following limitations: 
 (i) the
amount of CAF Advances accepted for each CAF Advance Maturity Date specified by any Lender in its CAF Advance Offer shall not exceed the maximum amount for such CAF Advance Maturity Date specified in such CAF Advance Offer; 

(ii) the aggregate amount of CAF Advances accepted for all CAF Advance Maturity Dates specified by any Lender in its CAF
Advance Offer shall not exceed the aggregate maximum amount specified in such CAF Advance Offer for all such CAF Advance Maturity Dates; 
 (iii) the Borrower may not accept offers for CAF Advances for any CAF Advance Maturity Date in an aggregate principal amount in excess of the maximum principal amount requested in the related CAF Advance
Request; and 
 (iv) if the Borrower accepts any of such offers, it must accept offers based solely upon pricing
for each relevant CAF Advance Maturity Date and upon no other criteria whatsoever, and if two or more Lenders submit offers for any CAF Advance Maturity Date at identical pricing and the Borrower accepts any of such offers but does not wish to (or,
by reason of the limitations set forth in Section 2.8, cannot) borrow the total amount 

  
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offered by such Lenders with such identical pricing, the Borrower shall accept offers from all of such Lenders in amounts allocated among them pro rata according to the amounts
offered by such Lenders (with appropriate rounding, in the sole discretion of the Borrower, to assure that each accepted CAF Advance is an integral multiple of $1,000,000); provided that if the number of Lenders that submit offers for any CAF
Advance Maturity Date at identical pricing is such that, after the Borrower accepts such offers pro rata in accordance with the foregoing provisions of this paragraph, the CAF Advance to be made by any such Lender would be less than
$5,000,000 principal amount, the number of such Lenders shall be reduced by the Managing Administrative Agent by lot until the CAF Advances to be made by each such remaining Lender would be in a principal amount of $5,000,000 or an integral multiple
of $1,000,000 in excess thereof. 
 (f) If the Borrower notifies the Managing Administrative Agent that a CAF Advance
Request is cancelled pursuant to subsection 2.9(d)(i), the Managing Administrative Agent shall give prompt telephone notice thereof to the Lenders. 
 (g) If the Borrower accepts pursuant to subsection 2.9(d)(ii) one or more of the offers made by any Lender or Lenders, the Managing Administrative Agent promptly shall notify each Lender which
has made such an offer of (i) the aggregate amount of such CAF Advances to be made on such Borrowing Date for each CAF Advance Maturity Date and (ii) the acceptance or rejection of any offers to make such CAF Advances made by such Lender.
Before 12:00 Noon, New York City time, on the Borrowing Date specified in the applicable CAF Advance Request, each Lender whose CAF Advance Offer has been accepted shall make available to the Managing Administrative Agent at its office set forth in
Section 9.2 the amount of CAF Advances to be made by such Lender, in immediately available funds. The Managing Administrative Agent will make such funds available to the Borrower as soon as practicable on such date at such office of the
Managing Administrative Agent. As soon as practicable after each Borrowing Date, the Managing Administrative Agent shall notify each Lender of the aggregate amount of CAF Advances advanced on such Borrowing Date and the respective CAF Advance
Maturity Dates thereof. 
 2.10 CAF Advance Payments. (a) The Borrower hereby unconditionally promises to pay to the
Managing Administrative Agent, for the account of each Lender which has made a CAF Advance, on the applicable CAF Advance Maturity Date, the then unpaid principal amount of such CAF Advance. The Borrower shall not have the right to prepay any
principal amount of any CAF Advance without the consent of the Lender to which such CAF Advance is owed. 
 (b) The Borrower
hereby further agrees to pay interest on the unpaid principal amount of each CAF Advance from the Borrowing Date of such CAF Advance to the applicable CAF Advance Maturity Date at the rate of interest specified in the CAF Advance Offer accepted by
the Borrower in connection with such CAF Advance (calculated on the basis of a 360-day year for actual days elapsed), payable on each applicable CAF Advance Interest Payment Date. 

(c) If any principal of, or interest on, any CAF Advance shall not be paid when due (whether at the stated maturity, by acceleration or
otherwise), the overdue amount of such CAF 

  
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Advance shall, without limiting any rights of any Lender under this Agreement, bear interest from the date on which such payment was due at a rate per annum which is 2% per annum above the
rate which would otherwise be applicable to such CAF Advance until the stated CAF Advance Maturity Date of such CAF Advance, and for each day thereafter at a rate per annum which is 2% per annum above the ABR, in each case until paid in full
(as well after as before judgment). Interest accruing pursuant to this paragraph (c) shall be payable from time to time on demand. 
 2.11 Evidence of Debt. Each Lender shall maintain in accordance with its usual practice appropriate records evidencing indebtedness of the Borrower to such Lender resulting from each CAF Advance of
such Lender from time to time, including the amounts of principal and interest payable and paid to such Lender from time to time in respect of such CAF Advance. The Managing Administrative Agent shall maintain the Register pursuant to subsection
9.6(e), and a record therein for each Lender, in which shall be recorded (i) the amount of each CAF Advance made by such Lender, the CAF Advance Maturity Date thereof, the interest rate applicable thereto and each CAF Advance Interest Payment
Date applicable thereto, and (ii) the amount of any sum received by the Managing Administrative Agent hereunder from the Borrower on account of such CAF Advance. The entries made in the Register and the records of each Lender maintained
pursuant to this Section shall, to the extent permitted by applicable law, be prima facie evidence of the existence and amounts of the obligations of the Borrower therein recorded; provided, however, that the failure of
any Lender or the Managing Administrative Agent to maintain the Register or any such record, or any error therein, shall not in any manner affect the obligation of the Borrower to repay (with applicable interest) the CAF Advances made by such Lender
reflected in the Register as the owner thereof in accordance with the terms of this Agreement. 
 2.12 Certain
Restrictions. A CAF Advance Request may request offers for CAF Advances to be made on not more than one Borrowing Date and to mature on not more than three CAF Advance Maturity Dates. No CAF Advance Request may be submitted earlier than five
Business Days after submission of any other CAF Advance Request. 
 2.13 Minimum Amounts of Tranches. All borrowings,
conversions and continuations of Revolving Credit Loans hereunder and all selections of Interest Periods hereunder shall be in such amounts and be made pursuant to such elections so that, after giving effect thereto, the aggregate principal amount
of the Revolving Credit Loans comprising each LIBOR Tranche shall be equal to $10,000,000 or a whole multiple of $1,000,000 in excess thereof. In no event shall there be more than ten LIBOR Tranches outstanding at any time. 

2.14 Interest Rates and Payment Dates. (a) Each LIBOR Loan shall bear interest for each day during each Interest Period with
respect thereto at a rate per annum equal to the London Interbank Offered Rate for such Interest Period plus the Applicable Margin. 

  
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 (b) Each ABR Loan and Swing Line Loan shall bear interest at a rate per annum equal to the
ABR plus the Applicable Margin. Each CAF Advance shall bear interest as provided in Section 2.10. 
 (c) If all or a
portion of (i) any principal of any Revolving Credit Loan or Swing Line Loan, (ii) any interest payable thereon, (iii) any facility fee or (iv) any other amount payable hereunder (other than overdue CAF payments provided for in
subsection 2.10(c)) shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), any such overdue amount shall bear interest at a rate per annum which is (x) in the case of any such overdue principal, the rate that
would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% per annum or (y) in the case of any such overdue interest, facility fee or other amount, the rate applicable to ABR Loans pursuant to
subsection 2.14(b) plus 2% per annum, in each case from the date of such non-payment until such overdue principal, interest, facility fee or other amount is paid in full (as well after as before judgment). 

(d) Interest on Revolving Credit Loans and Swing Line Loans shall be payable in arrears on each Interest Payment Date, provided
that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand. 
 2.15
Computation of Interest and Fees. (a) Whenever it is calculated by reference to clause (i) of the defined term “ABR”, interest shall be calculated on the basis of a 365- (or 366-, as the case may be) day year for the
actual days elapsed; and, otherwise, interest and the facility fee shall be calculated on the basis of a 360-day year for the actual days elapsed. The Managing Administrative Agent shall as soon as practicable notify the Borrower and the Lenders of
each determination of a London Interbank Offered Rate. Any change in the interest rate on a Loan resulting from a change in the ABR or the Eurocurrency Reserve Requirements shall become effective as of the opening of business on the day on which
such change becomes effective. The Managing Administrative Agent shall as soon as practicable notify the Borrower and the Lenders of the effective date and the amount of each such change in interest rate. 

(b) Each determination of an interest rate by the Managing Administrative Agent pursuant to any provision of this Agreement shall be
conclusive and binding on the Borrower and the Lenders in the absence of manifest error. The Managing Administrative Agent shall, at the request of the Borrower, deliver to the Borrower a statement showing the quotations used by the Managing
Administrative Agent in determining any interest rate pursuant to subsection 2.14(a) or 2.7(b). 
 2.16 Inability to
Determine Interest Rate. If prior to the first day of any Interest Period: 
 (a) the Managing Administrative Agent shall
have determined (which determination shall be conclusive and binding upon the Borrower) that, by reason of circumstances affecting the relevant market, adequate and reasonable means do not exist for ascertaining the London Interbank Offered Rate for
such Interest Period, or 

  
 27 

 (b) the Managing Administrative Agent shall have received notice from the Required Lenders
that the London Interbank Offered Rate determined or to be determined for such Interest Period will not adequately and fairly reflect the cost to such Lenders (as conclusively certified by such Lenders) of making or maintaining their affected Loans
during such Interest Period, 
 the Managing Administrative Agent shall give telecopy or telephonic notice thereof to the Borrower and the
Lenders as soon as practicable thereafter. If such notice is given, and during such period until such circumstances described in paragraph (a) and (b) above cease to exist, (x) any LIBOR Loans requested to be made on the first day of
such Interest Period shall be made as ABR Loans, (y) any Loans that were to have been converted on the first day of such Interest Period to LIBOR Loans, shall be converted to or continued as ABR Loans and (z) any outstanding LIBOR Loans
shall be converted, on the first day of such Interest Period, to ABR Loans. Until such notice has been withdrawn by the Managing Administrative Agent (it being understood that the Managing Administrative Agent shall promptly withdraw any such notice
if the circumstances described in paragraphs (a) and (b) above cease to exist) no further LIBOR Loans shall be made or continued as such, nor shall the Borrower have the right to convert Loans to LIBOR Loans, as the case may be.

 2.17 Pro Rata Treatment and Payments. (a) Except as provided in Section 2.23(d), each borrowing of Revolving
Credit Loans by the Borrower from the Lenders hereunder, each payment by the Borrower on account of any facility fee hereunder and any reduction of the Commitments of the Lenders shall be made pro rata according to the respective Commitment
Percentages of the Lenders. Each payment (including each prepayment) by the Borrower on account of principal of and interest on any Loans (other than any CAF Advance) shall be made pro rata according to the respective outstanding principal amounts
of such Loans then held by the Lenders. All payments (including prepayments) to be made by the Borrower hereunder, whether on account of principal, interest, fees or otherwise, shall be made without set-off or counterclaim and shall be made prior to
2:00 P.M., New York City time, on the due date thereof to the Managing Administrative Agent, for the account of the Lenders, at the Managing Administrative Agent’s office specified in Section 9.2, in Dollars and in immediately available
funds. The Managing Administrative Agent shall distribute such payments to the relevant Lenders promptly upon receipt in like funds as received. If any payment hereunder becomes due and payable on a day other than a Business Day, such payment shall
be extended to the next succeeding Business Day, and, with respect to payments of principal, interest thereon shall be payable at the then applicable rate during such extension. 

(b) Unless the Managing Administrative Agent shall have been notified in writing by any Lender prior to a borrowing that such Lender will
not make the amount that would constitute its allocable share of such borrowing available to the Managing Administrative Agent, the Managing Administrative Agent may assume that such Lender is making such amount available to the Managing
Administrative Agent, and the Managing Administrative Agent may, in reliance upon such assumption, make available to the Borrower a corresponding amount. If such amount is not made available to the Managing Administrative Agent by the required time
on the Borrowing Date therefor, such Lender shall pay to the Managing Administrative Agent, on demand, such amount with interest thereon at a rate equal to the daily average Federal Funds Rate for the period until such Lender makes such amount
immediately available to the Managing 

  
 28 

 
Administrative Agent. A certificate of the Managing Administrative Agent submitted to any Lender with respect to any amounts owing under this Section shall be conclusive in the absence of
manifest error. If such Lender’s Commitment Percentage of such borrowing is not made available to the Managing Administrative Agent by such Lender within three Business Days of such Borrowing Date, the Managing Administrative Agent shall also
be entitled to recover such amount with interest thereon at the rate per annum applicable to ABR Loans hereunder, on demand, from the Borrower. If any such Lender shall subsequently pay its Commitment Percentage of such borrowing with interest
thereon to the Managing Administrative Agent, the Managing Administrative Agent shall promptly remit to the Borrower the amount of such interest paid by the Borrower for such period pursuant to the immediately preceding sentence. 

2.18 Swing Line Commitment. (a) Subject to the terms and conditions hereof, each Swing Line Lender agrees to make swing line
loans (“Swing Line Loans”) to the Borrower from time to time during the Commitment Period in an aggregate principal amount at any one time outstanding not to exceed the amount of each Swing Line Lender’s Swing Line Commitment,
provided that (i) the aggregate principal amount of all Loans outstanding at any one time shall not exceed the aggregate amount of the Commitments at such time and (ii) the aggregate principal amount of all Swing Line Loans
outstanding at any one time shall not exceed $1,400,000,000. If the aggregate amount of all Swing Line Commitments is at any time less than $1,400,000,000 (such shortfall, the “Swing Line Commitment Shortfall”), the Borrower may
designate one or more of the other existing Lenders as Swing Line Lenders (it being understood that the Swing Line Commitments of any such Lender may, at the option of such Lender, exceed its Commitment), having Swing Line Commitments in an
aggregate amount not exceeding the Swing Line Commitment Shortfall; provided that no Lender may be so designated unless it agrees in its sole discretion to act in such capacity. The Swing Line Commitment of each Swing Line Lender (unless
otherwise agreed by such Swing Line Lender) shall be reduced as follows: (x) upon any reduction of the Commitment of any Lender that is also a Swing Line Lender pursuant to Section 2.4, the Swing Line Commitment of such Swing Line Lender
shall be reduced by the same proportion as such Commitment is so reduced and (y) upon any assignment by such Swing Line Lender of all or any portion of its Swing Line Commitment pursuant to subsection 9.6(c) and the assumption by the relevant
assignee of the amount of such Swing Line Commitment so assigned, the Swing Line Commitment of such Swing Line Lender shall be reduced by the amount of its Swing Line Commitment so assigned. During the Commitment Period, the Borrower may use the
Swing Line Commitment by borrowing, prepaying the Swing Line Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof. All Swing Line Loans shall bear interest based upon the ABR and shall not be entitled to
be converted into loans that bear interest at any other rate. The Borrower shall give the relevant Swing Line Lender (with a copy to the Managing Administration Agent) irrevocable notice (which notice must be received by the Swing Line Lender prior
to 4:00 P.M., New York City time, on the requested Borrowing Date specifying the amount of the requested Swing Line Loan which shall be in a minimum amount of $100,000 or a whole multiple of $50,000 in excess thereof). The proceeds of the Swing Line
Loan will be made available by such Swing Line Lender to the Borrower at the office of such Swing Line Lender by 5:00 P.M., New York City time, on the Borrowing Date by crediting the account of the Borrower at such office with such proceeds. The
Borrower may, at any time and from time to time, prepay the Swing Line Loans of such Swing Line Lender, in whole or in part, without premium or penalty, by notifying such Swing Line Lender prior to 4:00 P.M., New York 

  
 29 

 
City time, on any Business Day of the date and amount of prepayment. If any such notice is given, the amount specified in such notice shall be due and payable on the date specified therein.
Partial prepayments shall be in an aggregate principal amount of $100,000 or a whole multiple of $50,000 in excess thereof. 

(b) The Borrower hereby unconditionally promises to pay to the Managing Administrative Agent for the account of each Swing Line Lender
the unpaid principal amount of each Swing Line Loan of such Swing Line Lender on the Revolving Credit Termination Date (or such earlier date on which the Swing Line Loans become due and payable pursuant to Section 7). The Swing Line Loans
shall, at the request of the relevant Swing Line Lender, be evidenced by and repayable with interest in accordance with a promissory note of the Borrower substantially in the form of Exhibit B to this Agreement, with appropriate insertions (the
“Swing Line Note”), payable to such Swing Line Lender and representing the obligation of the Borrower to pay the amount of the Swing Line Commitment of such Swing Ling Lender or, if less, the unpaid principal amount of the Swing
Line Loans owing to such Swing Line Lender, with interest thereon as prescribed in Section 2.14. Each Swing Line Lender is hereby authorized to record the Borrowing Date, the amount of each Swing Line Loan made by such Swing Line Lender and the
date and amount of each payment or prepayment of principal thereof, on the schedule annexed to and constituting a part of the Swing Line Note of such Swing Line Lender and any such recordation shall constitute prima facie evidence of
the accuracy of the information so recorded, provided that the failure by such Swing Line Lender to make any such recordation shall not affect any of the obligations of the Borrower under such Swing Line Note or this Agreement. Each Swing
Line Note shall (a) be dated the Closing Date, (b) be stated to mature on the Revolving Credit Termination Date and (c) bear interest for the period from the date thereof until paid in full on the unpaid principal amount thereof from
time to time outstanding at the applicable interest rate per annum determined as provided in, and payable as specified in, Section 2.14. 
 (c) Any Swing Line Lender at any time in its sole and absolute discretion may, on behalf of the Borrower (which hereby irrevocably directs each Swing Line Lender to act on its behalf) request each Lender,
including each Swing Line Lender, to make a Revolving Credit Loan that shall be initially an ABR Loan in an amount equal to such Lender’s Commitment Percentage of the amount of the Swing Line Loans of such Swing Line Lender outstanding on the
date such notice is given (the “Outstanding Swing Line Loans”). Unless any of the events described in paragraph (f) of Section 7 shall have occurred with respect to the Borrower (in which event the procedures of
paragraph (e) of this Section shall apply) each Lender shall make the proceeds of its Revolving Credit Loan available to the Managing Administrative Agent for the account of such Swing Line Lender at the office of the Managing Administrative
Agent specified in Section 9.2 prior to 12:00 Noon, New York City time, in funds immediately available on the Business Day next succeeding the date such notice is given. The proceeds of such Revolving Credit Loans shall be immediately applied
to repay such outstanding Swing Line Loans. Effective on the day such Revolving Credit Loans are made, the portion of the Swing Line Loans so paid shall no longer be outstanding as Swing Line Loans, shall no longer be due under each Swing Line Note
of such Swing Line Lender and shall be evidenced as provided in subsection 2.5(b). 

  
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 (d) Notwithstanding anything herein to the contrary, no Swing Line Lender shall be obligated
to make any Swing Line Loans if the conditions set forth in Section 4.2 have not been satisfied. 
 (e) If prior to the
making of a Revolving Credit Loan pursuant to subsection 2.18(c) one of the events described in paragraph (f) of Section 7 shall have occurred and be continuing with respect to the Borrower, each Lender will, on the date such
Revolving Credit Loan was to have been made pursuant to the notice in subsection 2.18(c), purchase an undivided participating interest in each Outstanding Swing Line Loan in an amount equal to (i) its Commitment Percentage times
(ii) the principal amount of such Swing Line Loan then outstanding. Each Lender will immediately transfer to the relevant Swing Line Lender, in immediately available funds, the amount of its participation, and upon receipt thereof such Swing
Line Lender will deliver to such Lender a Swing Line Loan Participation Certificate dated the date of receipt of such funds and in such amount. 
 (f) Whenever, at any time after any Lender has purchased a participating interest in a Swing Line Loan of any Swing Line Lender, such Swing Line Lender receives any payment on account thereof, such Swing
Line Lender will distribute to such Lender its participating interest in such amount (appropriately adjusted, in the case of interest payments, to reflect the period of time during which such Lender’s participating interest was outstanding and
funded); provided, however, that in the event that such payment received by the Swing Line Lender is required to be returned, such Lender will return to such Swing Line Lender any portion thereof previously distributed by such Swing
Line Lender to it. 
 (g) Each Lender’s obligation to make the Revolving Credit Loans referred to in subsection 2.18(c)
and to purchase participating interests pursuant to subsection 2.18(e) shall be absolute and unconditional and shall not be affected by any circumstance, including, without limitation, (i) any set-off, counterclaim, recoupment,
defense or other right which such Lender or the Borrower may have against any Swing Line Lender, the Borrower or any other Person for any reason whatsoever, (ii) the occurrence or continuance of a Default or an Event of Default or termination
of the Commitments; (iii) any adverse change in the condition (financial or otherwise) of the Borrower; (iv) any breach of this Agreement or any other Loan Document by the Borrower, any Subsidiary or any other Lender; or (v) any other
circumstance, happening or event whatsoever, whether or not similar to any of the foregoing. 
 (h) If a Lender becomes, and
during the period it remains, a Defaulting Lender, any Swing Line Lender may, upon prior written notice to the Borrower and the Managing Administrative Agent, resign as a Swing Line Lender, effective at the close of business New York time on a date
specified in such notice (which date may not be less than three Business Days after the date of such notice); provided, that (i) no Swing Line Lender may so resign unless both (x) such Defaulting Lender’s Swing Line Portion
cannot be fully reallocated under Section 2.26(c)(i) and (y) the Borrower fails to comply with its obligations under Section 2.26(c)(ii) and (ii) such resignation by the Swing Line Lender will have no effect on its rights in
respect of any outstanding Swing Line Loans or on the obligations of the Borrower, any Lender or any other Swing Line Lender under this Agreement with respect to any such outstanding Swing Line Loans. 

  
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 2.19 Illegality. Notwithstanding any other provision herein, if the adoption of or
any change in any Requirement of Law or in the interpretation or application thereof shall make it unlawful for any Lender to make or maintain LIBOR Loans as contemplated by this Agreement then, on notice by such Lender to the Borrower through the
Managing Administrative Agent, (a) the commitment of such Lender hereunder to make LIBOR Loans, continue LIBOR Loans as such and convert ABR Loans to LIBOR Loans shall forthwith be cancelled and (b) such Lender’s Loans then
outstanding as LIBOR Loans, if any, shall be converted automatically to ABR Loans on the respective last days of the then current Interest Periods with respect to such Loans or within such earlier period as required by law. If any such conversion of
a LIBOR Loan occurs on a day which is not the last day of the then current Interest Period with respect thereto, the Borrower shall pay to such Lender such amounts, if any, as may be required pursuant to Section 2.20. 

2.20 Requirements of Law. (a) If the adoption of or any change in any Requirement of Law or in the interpretation or
application thereof or compliance by any Lender with any request or directive (whether or not having the force of law) from any central bank or other Governmental Authority made subsequent to the date hereof: 

(i) shall subject any Lender to any tax of any kind whatsoever with respect to this Agreement, any Note or any LIBOR Loan
made by it, or change the basis of taxation of payments to such Lender in respect thereof (except for Indemnified Taxes, Excluded Taxes and changes in the rate of tax on the overall net income of such Lender); 

(ii) shall impose, modify or hold applicable any reserve, special deposit, compulsory loan or similar requirement against
assets held by, deposits or other liabilities in or for the account of, advances, loans or other extensions of credit by, or any other acquisition of funds by, any office of such Lender which is not otherwise included in the determination of the
London Interbank Offered Rate hereunder; or 
 (iii) shall impose on such Lender any other condition; 

and the result of any of the foregoing is to increase the cost to such Lender, by an amount which such Lender deems to be material, of making, converting
into, continuing or maintaining LIBOR Loans or to reduce any amount receivable hereunder in respect thereof, then, in any such case, the Borrower shall promptly pay such Lender such additional amount or amounts as will compensate such Lender for
such increased cost or reduced amount receivable. 
 (b) If any Lender shall have determined that the adoption of or any change
in any Requirement of Law regarding liquidity or capital adequacy requirements or in the interpretation or application thereof or compliance by such Lender or any corporation controlling such Lender with any request or directive regarding liquidity
or capital adequacy requirements (whether or not having the force of law) from any Governmental Authority made subsequent to the date hereof shall have the effect of reducing the rate of return on such Lender’s or such corporation’s
capital as a consequence of its obligations hereunder to a level below that which such Lender or 

  
 32 

 
such corporation could have achieved but for such adoption, change or compliance (taking into consideration such Lender’s or such corporation’s policies with respect to capital
adequacy) by an amount deemed by such Lender to be material, then from time to time, the Borrower shall promptly pay to such Lender such additional amount or amounts as will compensate such Lender for such reduction. 

(c) If any Lender becomes entitled to claim any additional amounts pursuant to paragraphs (a) or (b) of this Section 2.20,
it shall promptly notify the Borrower (with a copy to the Managing Administrative Agent) of the event by reason of which it has become so entitled and of the basis for the calculation of such additional amounts; provided that the Borrower
shall not be required to compensate a Lender pursuant to such paragraph for any increased costs incurred more than 180 days prior to the date that such Lender notifies the Borrower of the change giving rise to such increased costs and of such
Lender’s intention to claim compensation therefor; provided, further that, if the change giving rise to such increased costs is retroactive, then the 180-day period referred to above shall be extended to include the period of
retroactive effect thereof, and provided, further, that no Lender shall claim any additional amounts pursuant to paragraphs (a) or (b) of this Section unless such Lender is generally seeking similar reimbursement from
similarly situated borrowers and the compensation claimed pursuant to such paragraphs is not in excess of the corresponding amounts that such Lender is seeking from such similarly situated borrowers. A certificate as to any additional amounts
payable pursuant to this Section submitted by such Lender to the Borrower (with a copy to the Managing Administrative Agent), describing the basis for the calculation of such amounts, shall be conclusive in the absence of manifest error. The
agreements in this Section shall survive the termination of this Agreement and the payment of the Loans and all other amounts payable hereunder. 
 (d) For purposes of Section 2.19 and this Section 2.20, (i) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all rules, regulations, orders, requests, guidelines or
directives in connection therewith and (ii) rules, regulations, orders, requests, guidelines or directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority)
or the United States or foreign regulatory authorities, in each case pursuant to Basel III, shall in each case be deemed to have been adopted and gone into effect after the date of this Agreement. 

(e) Each Lender agrees that, upon the occurrence of any event giving rise to the operation of Section 2.19, 2.20(a), (b) or
(c) or payment of additional amounts under Section 2.21 with respect to such Lender, it will, if requested by the Borrower, use reasonable efforts (subject to overall policy considerations of such Lender) to designate another lending
office for any Loans affected by such event with the object of avoiding the consequences of such event or reducing additional amounts payable under Section 2.21; provided, that such designation is made on terms that, in the sole judgment
of such Lender, would not subject such Lender to any unreimbursed cost or expense and would not otherwise cause such Lender and its lending office(s) to suffer no economic, legal or regulatory disadvantage, and provided, further, that
nothing in this Section shall affect or postpone any of the obligations of the Borrower or the rights of any Lender pursuant to Section 2.19, 2.20(a), (b) or (c), or 2.21. 

  
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 2.21 Taxes. (a) All payments made by the Borrower under this Agreement and any
Notes shall be made free and clear of, and without deduction or withholding for or on account of any Taxes, unless required by applicable law. If any such Taxes are required to be withheld from any amounts payable to the Managing Administrative
Agent or any Lender hereunder or under any Note, (i) the Borrower or the Managing Administrative Agent shall be entitled to make such withholding and shall pay the full amount withheld to the relevant Governmental Authority in accordance with
applicable law, and (ii) if such Taxes are Indemnified Taxes, the amounts so payable to the Managing Administrative Agent or such Lender shall be increased to the extent necessary to yield to the Managing Administrative Agent or such Lender
(after payment of all Indemnified Taxes) interest or any such other amounts payable hereunder at the rates or in the amounts specified in this Agreement. Whenever any Indemnified Taxes are payable by the Borrower, as promptly as possible thereafter
the Borrower shall send to the Managing Administrative Agent for its own account or for the account of such Lender, as the case may be, a certified copy of an original official receipt received by the Borrower showing payment thereof or other
evidence of such payment reasonably satisfactory to the Managing Administrative Agent. If the Borrower fails to pay any Indemnified Taxes when due to the appropriate taxing authority or fails to remit to the Managing Administrative Agent the
required receipts or other required documentary evidence, the Borrower shall indemnify the Managing Administrative Agent and the Lenders for any incremental taxes, interest or penalties that may become payable by the Managing Administrative Agent or
any Lender as a result of any such failure. The agreements in this Section shall survive the termination of this Agreement and the payment of the Loans and all other amounts payable hereunder. 

(b) Each Lender that is a “United States person” as defined in Section 7701(a)(30) of the Code shall deliver to the
Borrower and the Managing Administrative Agent, on or before the date on which it becomes a party to this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Managing Administrative Agent), two properly
completed and duly signed copies of United States Internal Revenue Service Form W-9 (or any subsequent versions or successors thereto) certifying that such Lender is exempt from United States federal withholding tax. To the extent it is legally
entitled to do so, each Lender that is not a “United States person” as defined in Section 7701(a)(30) of the Code (a “Non-U.S. Lender”) shall: 

(i) on or before the date such Lender becomes a party to this Agreement (and from time to time thereafter upon the
reasonable request of the Borrower or the Managing Administrative Agent), deliver to the Borrower and the Managing Administrative Agent (x) two duly completed copies of United States Internal Revenue Service Form W-8 BEN or W-8 ECI or W-8 IMY
(together with any applicable underlying United States Internal Revenue Service forms and other certification documents), or any subsequent versions or successors thereto, (y) in the case of a Non-U.S. Lender claiming, in each case, exemption
from United States federal withholding tax under Section 871(h) or 881(c) of the Code with respect to payments of “portfolio interest”, a statement substantially in the form of Exhibit K-1, K-2, K-3 or K-4 (as applicable) and the
applicable United States Internal Revenue Service Form W-8 or any subsequent versions thereof or successors thereto, properly completed and duly executed by such Non-U.S. Lender claiming complete exemption from, or a reduced rate of, United
States federal withholding tax on all payments by the Borrower under this Agreement and the other Loan Documents, or 

  
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(z) any other form prescribed by applicable requirements of United States federal income tax law as a basis for claiming exemption from or a reduction in United States federal withholding tax
duly completed together with such documentation as may be prescribed by applicable Requirements of Law to permit the Borrower and the Managing Administrative Agent to determine the withholding or deduction required to be made; 

(ii) deliver to the Borrower and the Managing Administrative Agent two further copies of any such form or certification on
or before the date that any such form or certification expires or becomes obsolete and after the occurrence of any event requiring a change in the most recent form previously delivered by it to the Borrower or the Managing Administrative Agent; and

 (iii) obtain such extensions of time for filing and complete such forms or certifications as may
reasonably be requested by the Borrower or the Managing Administrative Agent; 
 unless in any such case an event (including, without
limitation, any change in treaty, law or regulation) has occurred prior to the date on which any such delivery would otherwise be required which renders all such forms inapplicable or which would prevent such Lender from duly completing and
delivering any such form with respect to it and such Lender so advises the Borrower and the Managing Administrative Agent. Such Lender shall, to the extent it is legally entitled to do so, certify that it is entitled to receive payments under this
Agreement without deduction or withholding of any United States federal income taxes. Each Person that shall become a Lender or a Participant pursuant to Section 9.6 shall, upon the effectiveness of the related transfer, be required to provide
all of the forms and statements required pursuant to this Section, provided that in the case of a Participant such Participant shall furnish all such required forms and statements to the Lender from which the related participation shall have been
purchased. 
 (c) If a payment made to the Managing Administrative Agent or any Lender under this Agreement and any Notes would
be subject to United States federal withholding Tax imposed by FATCA if the Managing Administrative Agent or any Lender were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or
1472(b) of the Code, as applicable), the Managing Administrative Agent or such Lender shall deliver to the Borrower and the Managing Administrative Agent at the time or times prescribed by law and at such time or times reasonably requested by the
Borrower or the Managing Administrative Agent such documentation prescribed by applicable law (including as prescribed by Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably requested by the Borrower or the
Managing Administrative Agent as may be necessary for the Borrower and the Managing Administrative Agent to comply with their obligations under FATCA and to determine that the Managing Administrative Agent or such Lender has complied with its
obligations under FATCA or to determine the amount to deduct and withhold from such payment. Solely for purposes of this clause (c), “FATCA” shall include any amendments made to FATCA after the date of this Agreement. 

(d) If the Managing Administrative Agent or any Lender determines, in its sole discretion, exercised in good faith, that it has received
a refund of any Indemnified Taxes as to 

  
 35 

 
which it has been indemnified by the Borrower or with respect to which the Borrower has paid additional amounts pursuant to this Section 2.21, it shall pay over such refund to the Borrower
(but only to the extent of indemnity payments made, or additional amounts paid, by the Borrower under this Section 2.21 with respect to the Indemnified Taxes giving rise to such refund), net of all out-of-pocket expenses of the Managing
Administrative Agent or such Lender and without interest (other than any interest paid by the relevant Governmental Authority with respect to such refund); provided that the Borrower, upon the request of the Managing Administrative Agent or
such Lender, agrees to repay the amount paid over to the Borrower (plus any penalties, interest or other charges imposed by the relevant Governmental Authority) to the Managing Administrative Agent or such Lender in the event the Managing
Administrative Agent or such Lender is required to repay such refund to such Governmental Authority. 
 2.22 Indemnity.
The Borrower agrees to indemnify each Lender and to hold each Lender harmless from any loss or expense which such Lender may sustain or incur as a consequence of (a) default by the Borrower in making either (i) a borrowing of LIBOR Loans
or LIBOR CAF Advances or (ii) a conversion into or continuation of LIBOR Loans, in each case after the Borrower has given a notice requesting the same in accordance with the provisions of this Agreement (in the case of a borrowing of LIBOR CAF
Advances, so long as the Borrower shall have accepted a CAF Advance offered in connection with any such notice), (b) default by the Borrower in making any prepayment after the Borrower has given a notice thereof in accordance with the
provisions of this Agreement (regardless of whether such notice is permitted to be revocable under Section 2.4 or 2.6 and is revoked in accordance herewith) or (c) the making of either (i) a prepayment of LIBOR Loans, LIBOR CAF
Advances or Fixed Rate CAF Advances or (ii) a conversion of LIBOR Loans, in each case on a day which is not the last day of an Interest Period with respect thereto. Such indemnification shall constitute an amount equal to the excess, if any, of
(i) the amount of interest which would have accrued on the amount so prepaid, or not so borrowed, converted or continued, for the period from the date of such prepayment or of such failure to borrow, convert or continue to the last day of such
Interest Period (or, in the case of a failure to borrow, convert or continue, the Interest Period that would have commenced on the date of such failure) in each case at the applicable rate of interest for such Loans provided for herein (excluding,
however, the Applicable Margin included therein, if any) over (ii) the amount of interest (as reasonably determined by such Lender) which would have accrued to such Lender on such amount by placing such amount on deposit for a comparable period
with leading banks in the interbank eurodollar market. A certificate as to any amounts payable pursuant to this Section shall be submitted to the Borrower by such Lender. This covenant shall survive the termination of this Agreement and the payment
of the Loans and all other amounts payable hereunder. 
 2.23 Commitment Increases. (a) In the event that Borrower
wishes to increase the aggregate Commitments, it shall notify the Lenders (through the Managing Administrative Agent) of the amount of such proposed increase (such notice, a “Commitment Increase Offer”). Each Commitment Increase
Offer shall offer the Lenders the opportunity to participate in the increased Commitments ratably in accordance with their respective Commitment Percentages. In the event that any Lender (each, a “Declining Lender”) shall fail to
accept in writing a Commitment Increase Offer within 10 Business Days after receiving notice thereof, all or any portion of the proposed increase in the Commitments offered to the Declining Lenders (the aggregate of such offered amounts, the

  
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“Declined Amount”) may instead be allocated to any one or more additional banks, financial institutions or other entities pursuant to paragraph (b) below and/or to any one
or more existing Lenders pursuant to paragraph (c)(ii) below. 
 (b) Any additional bank, financial institution or other
entity (herein called a “New Lender”) which, with the consent of the Borrower and the Managing Administrative Agent, elects to become a party to this Agreement and obtain a Commitment in an amount equal to all or any portion of a
Declined Amount, shall execute a New Lender Supplement (each, a “New Lender Supplement”) with the Borrower and the Managing Administrative Agent, substantially in the form of Exhibit J-1, whereupon such New Lender shall become a
Lender for all purposes and to the same extent as if originally a party hereto and shall be bound by and entitled to the benefits of this Agreement, and Schedule 1.2 shall be deemed to be amended to add the name and Commitment of such New Lender.

 (c) Any Lender which (i) accepts a Commitment Increase Offer pursuant to subsection 2.23(a) or (ii) with
the consent of the Borrower elects to increase its Commitment by an amount equal to all or any portion of a Declined Amount shall, in each case, execute a Commitment Increase Supplement (each, a “Commitment Increase Supplement”)
with the Borrower and the Managing Administrative Agent, substantially in the form of Exhibit J-2, whereupon such Lender shall be bound by and entitled to the benefits of this Agreement with respect to the full amount of its Commitment as so
increased, and Schedule 1.2 shall be deemed to be amended to so increase the Commitment of such Lender. 
 (d) If on the date
upon which a bank, financial institution or other entity becomes a New Lender pursuant to subsection 2.23(b) or upon which a Lender’s Commitment is increased pursuant to subsection 2.23(c) there is an unpaid principal amount of
Revolving Credit Loans, the Borrower shall borrow Revolving Credit Loans from the Lenders and/or (subject to compliance by the Borrower with Section 2.22) prepay Revolving Credit Loans of the Lenders (which borrowings and prepayments may be on
a non-ratable basis) such that, after giving effect thereto, the Revolving Credit Loans (including, without limitation, the Types thereof and Interest Periods with respect thereto) shall be held by the Lenders (including for such purposes the New
Lenders) pro rata according to their respective Commitment Percentages. 
 (e) Notwithstanding anything to the contrary in this
Section, (i) in no event shall any transaction effected pursuant to this Section cause (x) the aggregate Commitments to exceed an amount equal to 150% of the aggregate amount of the Commitments in effect on the date hereof or
(y) unless otherwise agreed by the Managing Administrative Agent, an increase in the aggregate Commitments of an amount less than $50,000,000, (ii) the aggregate amount of any increase in Commitments pursuant to subsection 2.23(b)
and (c)(ii) shall be limited to the relevant Declined Amount and (iii) no Lender shall have any obligation to increase its Commitment unless it agrees to do so in its sole discretion. 

2.24 Commitment Extensions. (a) The Borrower may, not earlier than 60 days and not later than 45 days before any
anniversary of the Closing Date (each, an “Anniversary Date”), but no more than twice in total, by notice to the Managing Administrative Agent, request that the Revolving Credit Termination Date then in effect (the “Existing
Revolving Credit Termination Date”) be extended to the date 364 days after the Existing Revolving Credit Termination Date. The Managing Administrative Agent shall promptly notify the Lenders of such request. 

  
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 (b) Each Lender, in its sole discretion, shall advise the Managing Administrative Agent
whether or not such Lender agrees to such extension. If a Lender agrees to such extension (an “Extending Lender”), it shall notify the Managing Administrative Agent, in writing, of its decision to do so no later than 30 days
prior to such Anniversary Date. A Lender that determines not to so extend its Commitment shall so notify the Managing Administrative Agent promptly after making such determination and is herein called a “Non-Extending Lender”. If a
Lender does not give timely notice to the Managing Administrative Agent of whether or not such Lender agrees to such extension, it shall be deemed to be a Non-Extending Lender; provided that any Non-Extending Lender may, with the consent of the
Borrower and the Managing Administrative Agent (such consent of the Managing Administrative Agent not to be unreasonably withheld), subsequently become an Extending Lender by notice to the Managing Administrative Agent and the Borrower. 

(c) The Managing Administrative Agent shall notify the Borrower of each Lender’s determination not earlier than 30 days and not
later than 20 days prior to the relevant Anniversary Date. 
 (d) The Borrower shall have the right to accept Commitments
from New Lenders, each of which shall be acceptable to the Managing Administrative Agent, in an aggregate amount not exceeding the aggregate amount of the Commitments of the Non-Extending Lenders, provided that the Borrower may in its sole
discretion, offer to Extending Lenders the option to increase their Commitments (each such Lender being herein called an “Increasing Lender”) up to the aggregate amount of the Non-Extending Lenders’ Commitments before
substituting any New Lenders for Non-Extending Lenders. 
 (e) If and only if (i) more than 50% of the total of the
Commitments is extended or otherwise committed to by Extending Lenders and any New Lenders, and (ii) immediately prior to the relevant Anniversary Date no Default has occurred and is continuing and the representations and warranties of the
Borrower set forth in Section 3 shall be true and correct in all material respects on and as of such Anniversary Date as though made on and as of such date, and subject to each New Lender having executed a New Lender Supplement (on the
effective date of which such New Lender shall become a Lender for all purposes and to the same extent as if originally a party hereto and shall be bound by and entitled to the benefits of this Agreement), then effective on such Anniversary Date the
Commitment of each Extending Lender shall be extended to the date 364 days after the Existing Revolving Credit Termination Date (or, if such day is not a Business Day, the immediately preceding Business Day) which date shall thereafter be the
Revolving Credit Termination Date; the increased Commitment of each Increasing Lender and the new Commitment of each New Lender shall take effect on such Anniversary Date; the Commitments of the Non-Extending Lenders shall be reduced pro
rata on such Anniversary Date to the extent of such increased and new commitments and appropriate adjustments shall be made on such Anniversary Date to cause any then-outstanding Loans of the Lenders to be held on a pro rata
basis among all Lenders; the remaining Commitment of each Non-Extending Lender shall terminate on the Existing Revolving Credit Termination Date; and the Borrower shall pay in full on the Existing Revolving Credit Termination Date all amounts
payable to each Non-Extending Lender hereunder. 

  
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 2.25 Replacement of Lenders. If any Lender requests compensation under
Section 2.20, or if the Borrower is required to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 2.21, or if any Lender is a Defaulting Lender, or if any Lender is a
Non-Extending Lender, or, so long as no Default or Event of Default has occurred and is continuing, a Lender (a “Non-Consenting Lender) does not consent to a proposed change, waiver, discharge or termination with respect to any Loan
Document that has been approved by the Required Lenders as provided in Section 9.1 but requires the consent of all Lenders or all affected Lenders, then the Borrower may, at its sole expense and effort, upon notice to such Lender and the
Managing Administrative Agent, require such Lender to assign and delegate, without recourse (in accordance with and subject to the restrictions contained in, and consents required by, Section 9.6), all of its interests, rights and obligations
under this Agreement and the related Loan Documents to an assignee that shall assume such obligations (which assignee may be another Lender, if a Lender accepts such assignment) and consents to such change, waiver, discharge or termination, as the
case may be, provided that: 
 (i) the Managing Administrative Agent shall have received the assignment
fee specified in Section 9.6(f); 
 (ii) such Lender shall have received payment of an amount equal to the
outstanding principal of its Loans and accrued interest thereon, accrued fees and all other amounts payable to it hereunder and under the other Loan Documents (including any amounts under Section 2.22) from the assignee (to the extent of such
outstanding principal and accrued interest and fees) or the Borrower (in the case of all other amounts); 
 (iii)
in the case of any such assignment resulting from a claim for compensation under Section 2.20 or payments required to be made pursuant to Section 2.21, such assignment will result in a reduction in such compensation or payments thereafter;
and 
 (iv) such assignment does not conflict with applicable law. 

A Lender shall not be required to make any such assignment or delegation if, prior thereto, as a result of a waiver by such Lender or otherwise, the
circumstances entitling the Borrower to require such assignment and delegation cease to apply. 
 2.26. Defaulting
Lenders. If a Lender becomes, and during the period it remains, a Defaulting Lender, the following provisions shall apply: 

(a) the facility fees set forth in Section 2.3 shall cease to accrue on the unutilized Commitment of such Defaulting Lender as
provided in said Section 2.3; 

  
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 (b) to the extent permitted by applicable law, any prepayment of Loans shall, if the
Borrower so directs at the time of making such prepayment, be applied to the Loans of other Lenders as if such Defaulting Lender had no Loans outstanding; 
 (c) if any Swing Line Loan is outstanding at the time a Lender becomes a Defaulting Lender then (such Defaulting Lender’s Commitment Percentage of the outstanding principal amount of the Swing Line
Loans being referred to as the “Swing Line Portion”): 
 (i) the Swing Line Portion of such
Defaulting Lender will, subject to the limitation in the first proviso below, automatically be reallocated (effective on the day such Lender becomes a Defaulting Lender) among the Non-Defaulting Lenders pro rata in accordance with their respective
Commitments (without giving effect to such Defaulting Lender’s Commitment); provided that (i) the sum of the total outstanding principal amounts of each Non-Defaulting Lender’s Revolving Credit Loans and its Commitment Percentage of
Swing Line Loans may not in any event exceed the Commitment of such Non-Defaulting Lender as in effect at the time of such reallocation and (ii) neither such reallocation nor any payment by a Non-Defaulting Lender pursuant thereto will
constitute a waiver or release of any claim the Borrower, the Managing Administrative Agent, any Swing Line Lender or any other Lender may have against such Defaulting Lender or cause such Defaulting Lender to be a Non-Defaulting Lender; and

 (ii) to the extent that any portion (the “unreallocated portion”) of the Defaulting Lender’s
Swing Line Portion cannot be so reallocated, whether by reason of the proviso in clause (a) above or otherwise, the Borrower will, not later than five Business Days after demand by the Managing Administrative Agent (at the direction of the
Swing Line Lenders) either, at its option, (A) prepay (subject to clause (d) below) in full the unreallocated portion thereof or (B) cash collateralize such Defaulting Lender’s Swing Line Portion (after giving effect to any
partial reallocation pursuant to clause (i) above) in accordance with procedures reasonably acceptable to the Managing Administrative Agent and the Swing Line Lenders for so long as such Swing Line Portion is outstanding, such prepayment and
cash collateralization to be applied ratably to the outstanding Swing Line Loans of all of the Swing Line Lenders (and, until such prepayment and cash collateralization shall occur, the facility fees that would otherwise have been payable to such
Defaulting Lender but for the last sentence of Section 2.3 and Section 2.26(a) shall instead be paid ratably to the Swing Line Lenders). 
 (d) any amount paid by the Borrower for the account of a Defaulting Lender under this Agreement (whether on account of principal, interest, fees, indemnity payments or other amounts) will not be paid or
distributed to such Defaulting Lender, but will instead be retained by the Managing Administrative Agent in a segregated non-interest bearing account until (subject to Section 2.27) the termination of the Commitments and payment in full of all
obligations of the Borrower hereunder and will be applied by the Managing Administrative Agent, to the fullest extent permitted by law, to the making of payments from time to time in the following order of priority: first to the payment of
any amounts owing by such Defaulting 

  
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Lender to the Managing Administrative Agent under this Agreement, second to the payment of any amounts owing by such Defaulting Lender to the Swing Line Lenders (pro rata as
to the respective amounts owing to each of them) under this Agreement, third if so determined by the Managing Administrative Agent or requested by a Swing Line Lender, held in such account as cash collateral for future funding obligations of
the Defaulting Lender in respect of any existing or future participating interest in any Swing Line Loan, fourth, to the funding of any Loan in respect of which such Defaulting Lender has failed to fund its portion thereof as required by this
Agreement, as determined by the Managing Administrative Agent, fifth, if so determined by the Managing Administrative Agent and the Borrower, held in such account as cash collateral for future funding obligations of the Defaulting Lender in
respect of any Loans under this Agreement, and sixth after the termination of the Commitments and payment in full of all obligations of the Borrower hereunder, to pay amounts owing under this Agreement to such Defaulting Lender or as a court
of competent jurisdiction may otherwise direct. 
 (e) so long as any Lender is a Defaulting Lender, no Swing Line Lender shall
be required to fund any Swing Line Loan unless it is satisfied that the related exposure of the Defaulting Lender will be 100% covered by the Commitments of the Non-Defaulting Lenders and/or cash collateral will be provided by the Borrower in
accordance with paragraph (c)(ii) of this Section, and participating interests in any such newly made Swing Line Loan shall be allocated among non-Defaulting Lenders in a manner consistent with paragraph (c)(i) and (c)(ii) of this Section.

 (f) the Borrower may (a) terminate the unused amount of the Commitment of a Defaulting Lender upon not less than one
(1) Business Day’s prior notice to the Managing Administrative Agent (which will promptly notify the Lenders hereof), and in such event the provisions of this Section will apply to all amounts thereafter paid by the Borrower for the
account of such Defaulting Lender under this Agreement (whether on account of principal, interest, fees, indemnity or other amounts); provided that such termination will not be deemed to be a waiver or release of any claim the Borrower, the Managing
Administrative Agent, any Swing Line Lender or any Lender may have against such Defaulting Lender. 
 2.27. Defaulting Lender
Cure. If the Borrower, the Managing Administrative Agent and the Swing Line Lenders agree in writing in their discretion that a Lender that is a Defaulting Lender should no longer be deemed to be a Defaulting Lender, the Managing Administrative
Agent will so notify the parties hereto, whereupon as of the effective date specified in such notice and subject to any conditions set forth therein (which may include arrangements with respect to any amounts then held in the segregated account
referred to in Section 2.26(c), such Lender will, to the extent applicable, purchase such portion of outstanding Loans of the other Lenders and/or make such other adjustments as the Managing Administrative Agent may determine to be necessary to
cause the total outstanding principal amounts of Revolving Credit Loans and the Swing Line Loans of the Lenders to be on a pro rata basis in accordance with their respective Commitments, whereupon such Lender will cease to be a
Defaulting Lender and will be a Non-Defaulting Lender (and such outstanding principal amount of the Revolving Credit Loans of each Lender and the Swing Line Loans will automatically be adjusted on a prospective basis to reflect the foregoing);
provided that no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of the Borrower while such Lender was a 

  
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Defaulting Lender; and provided, further, that except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Lender to Non-Defaulting Lender
will constitute a waiver or release of any claim of any party hereunder arising from such Lender’s having been a Defaulting Lender. 
 SECTION 3. REPRESENTATIONS AND WARRANTIES 
 To induce the Managing
Administrative Agent and the Lenders to enter into this Agreement and to make the Loans, the Borrower hereby represents and warrants to the Managing Administrative Agent and each Lender that: 

3.1 Financial Condition. The consolidated balance sheet of the Borrower and its consolidated Subsidiaries as at December 31,
2011 and the related consolidated statements of income and of cash flows for the fiscal year ended on such date, reported on by PricewaterhouseCoopers LLP copies of which have heretofore been furnished to each Lender, are complete and correct in all
material respects and present fairly the consolidated financial condition of the Borrower and its consolidated Subsidiaries as at such date, and the consolidated results of their operations and their consolidated cash flows for the fiscal year then
ended. All such financial statements have been prepared in accordance with GAAP applied consistently throughout the periods involved (except as approved by such accountants or Responsible Officer, as the case may be, and as disclosed therein).
Neither the Borrower nor any of its consolidated Subsidiaries had, at the date of the most recent balance sheet referred to above, any material Guarantee outside the ordinary course of business, contingent liability or liability for taxes, or any
long-term lease or unusual forward or long-term commitment which is required to be reflected in the financial statements of the Borrower and its consolidated Subsidiaries in accordance with GAAP and which is not reflected in the foregoing statements
or in the notes thereto. 
 3.2 No Change. Since December 31, 2011 there has been no development or event which has
had or could reasonably be expected to have a Material Adverse Effect. 
 3.3 Existence; Compliance with Law. Each of the
Borrower and its Subsidiaries (a) is an entity duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization (provided, that no representation is made under this clause (a) with
respect to any Subsidiary that is not a Material Subsidiary of the Borrower if the failure of such Subsidiary to be duly organized, validly existing or in good standing as aforesaid could not reasonably be expected to have a Material Adverse
Effect), (b) has the power and authority, and the legal right, to own and operate its property, to lease the property it operates as lessee and to conduct the business in which it is currently engaged, (c) is duly qualified as a foreign
entity and in good standing under the laws of each jurisdiction (other than that of its organization) where its ownership, lease or operation of property or the conduct of its business requires such qualification and (d) is in compliance with
all Requirements of Law, except in the case of clause (b), (c) or (d) above, to the extent that the failure to have such power, authority and legal right, to qualify as a foreign entity or to be in good standing or to comply with any
Requirement of Law could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

  
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 3.4 Corporate Power; Authorization; Enforceable Obligations. The Borrower has the
corporate power and authority, and the legal right, to make, deliver, and perform the Loan Documents and to borrow hereunder and has taken all necessary corporate action to authorize the borrowings on the terms and conditions of this Agreement and
any Notes and to authorize the execution, delivery and performance of the Loan Documents. No consent or authorization of, filing with, notice to or other act by or in respect of, any Governmental Authority or any other Person is required in
connection with the borrowings hereunder or with the execution, delivery, performance, validity or enforceability of the Loan Documents except consents, authorizations, filings or notices that if not obtained or made, could not reasonably be
expected to have a Material Adverse Effect. This Agreement has been, and each other Loan Document will be, duly executed and delivered on behalf of the Borrower. This Agreement constitutes, and each other Loan Document when executed and delivered
will constitute, a legal, valid and binding obligation of the Borrower enforceable against the Borrower in accordance with its terms, subject to the effects of bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and other
similar laws relating to or affecting creditors’ rights generally, general equitable principles (whether considered in a proceeding in equity or at law) and an implied covenant of good faith and fair dealing. 

3.5 No Legal Bar. The execution, delivery and performance of the Loan Documents to which the Borrower is a party, the borrowings
hereunder and the use of the proceeds thereof will not violate any Requirement of Law or Contractual Obligation of the Borrower and will not result in, or require, the creation or imposition of any Lien on any of its or their respective properties
or revenues pursuant to any such Requirement of Law or Contractual Obligation, except to the extent that such violation or imposition of Liens could not reasonably be expected to have a Material Adverse Effect. 

3.6 No Material Litigation. Except as listed on Schedule 3.6 or as previously disclosed in any public filing made by the Borrower
prior to the date hereof, no litigation, investigation or proceeding of or before any arbitrator or Governmental Authority is pending or, to the knowledge of the Borrower, threatened by or against the Borrower or any of its Subsidiaries or against
any of its or their respective properties or revenues (a) with respect to any of the Loan Documents or any of the transactions contemplated hereby or thereby, or (b) which could, individually or in the aggregate, reasonably be expected to
have a Material Adverse Effect. 
 3.7 No Default. Neither the Borrower nor any of its Subsidiaries is in default under
or with respect to any of its Contractual Obligations in any respect which could, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. No Default or Event of Default has occurred and is continuing. 

  
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 3.8 Ownership of Property; Liens. Each of the Borrower and its Subsidiaries has good
record and marketable title in fee simple to, or a valid leasehold interest in, all its real property material to the business of the Borrower and its Subsidiaries, taken as a whole, and good title to, or a valid leasehold interest in, all its other
property material to the business of the Borrower and its Subsidiaries, taken as a whole, and none of such property is subject to any Lien except as permitted by Section 6.2, except in any such case to the extent that it could not reasonably be
expected to have a Material Adverse Effect. 
 3.9 Intellectual Property. The Borrower and each of its Subsidiaries owns,
or is licensed to use, all trademarks, tradenames, copyrights, technology, know-how and processes necessary for the conduct of its business as currently conducted except for those the failure to own or license which could not reasonably be expected
to have a Material Adverse Effect (the “Intellectual Property”). No claim has been asserted and is pending by any Person challenging or questioning the use of any such Intellectual Property or the validity or effectiveness of any
such Intellectual Property, nor does the Borrower know of any valid basis for any such claim, except for such claims that, in the aggregate, could not reasonably be expected to have a Material Adverse Effect. The use of such Intellectual Property by
the Borrower and its Subsidiaries does not infringe on the rights of any Person, except for such claims and infringements that, in the aggregate, could not reasonably be expected to have a Material Adverse Effect. 

3.10 No Burdensome Restrictions. No Requirement of Law or Contractual Obligation of the Borrower or any of its Subsidiaries could
reasonably be expected to have a Material Adverse Effect. 
 3.11 Taxes. Each of the Borrower and its Subsidiaries has
filed or caused to be filed all tax returns which, to the knowledge of the Borrower, are required to be filed and has paid all taxes shown to be due and payable on said returns or on any assessments made against it or any of its property and all
other taxes, fees or other charges imposed on it or any of its property by any Governmental Authority, except (a) any the amount or validity of which are currently being contested in good faith by appropriate proceedings and with respect to
which reserves in conformity with GAAP have been provided on the books of the Borrower or its Subsidiaries, as the case may be or (b) to the extent that the failure to do so could not reasonably be expected to have a Material Adverse Effect; no
tax Lien has been filed, and, to the knowledge of the Borrower, no claim is being asserted, with respect to any such tax, fee or other charge other than any Lien permitted under Section 6.2(a). 

3.12 Federal Margin Regulations. Neither the Borrower nor any of its Subsidiaries is engaged principally, or as one of its
important activities, in the business of extending credit for the purpose (whether immediate, incidental or ultimate) of buying or carrying Margin Stock. No part of the proceeds of any Loans will be used directly or indirectly for the purpose
(whether immediate, incidental or ultimate) of buying or carrying Margin Stock in violation of the regulations of the Board. If requested by any Lender or the Managing Administrative Agent, the Borrower will furnish to each Lender and the Managing
Administrative Agent a statement in conformity with the requirements of Federal Reserve Form FR U-1 or FR G-3, as appropriate, referred to in Regulation U, to demonstrate the compliance of any borrowing hereunder with Regulation U. 

  
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 3.13 ERISA. Neither a Reportable Event nor an “accumulated funding
deficiency” (within the meaning of Section 412 of the Code or Section 302 of ERISA) has occurred during the five-year period prior to the date on which this representation is made or deemed made with respect to any Single Employer
Plan that could reasonably be expected to have a Material Adverse Effect, and each Plan has complied with the applicable provisions of ERISA and the Code to the extent that the failure to comply could not reasonably be expected to have a Material
Adverse Effect. No termination of a Single Employer Plan has occurred (other than via a “standard termination” as defined in Section 4041(b) of ERISA), and no Lien in favor of the PBGC or a Single Employer Plan has arisen, during such
five-year period that could reasonably be expected to have a Material Adverse Effect. The excess, if any, of the present value of all accrued benefits under each Single Employer Plan (based on those assumptions used to fund such Single Employer
Plans), as of the last annual valuation date prior to the date on which this representation is made or deemed made, over the value of the assets of such Single Employer Plan allocable to such accrued benefits could not reasonably be expected to have
a Material Adverse Effect. Neither the Borrower nor any Commonly Controlled Entity has had a complete or partial withdrawal from any Multiemployer Plan that could reasonably be expected to have a Material Adverse Effect, and neither the Borrower nor
any Commonly Controlled Entity would become subject to any liability under ERISA that could reasonably be expected to have a Material Adverse Effect if the Borrower or any such Commonly Controlled Entity were to withdraw completely from all
Multiemployer Plans as of the valuation date most closely preceding the date on which this representation is made or deemed made. To the best knowledge of the Borrower, no such Multiemployer Plan is in Reorganization or Insolvent. The excess, if
any, of the present value (determined using actuarial and other assumptions which are reasonable in respect of the benefits provided and the employees participating) of the liability of the Borrower for post retirement benefits to be provided to
their current and former employees under Plans which are welfare benefit plans (as defined in Section 3(l) of ERISA) over the assets under all such Plans allocable to such benefits could not reasonably be expected to have a Material Adverse
Effect. 
 3.14 Investment Company Act; Other Regulations. The Borrower is not an “investment company”, or a
company “controlled” by an “investment company”, within the meaning of the Investment Company Act of 1940, as amended. The Borrower is not subject to regulation under any Federal or State statute or regulation (other than
Regulation X of the Board) which limits its ability to incur Indebtedness. 
 3.15 Subsidiaries. As of the Closing Date,
Schedule 3.15 lists each Subsidiary of the Borrower (and the direct and indirect ownership interest of the Borrower therein), in each case existing on September 30, 2012. 

3.16 Purpose of Loans. The proceeds of the Loans shall be used by the Borrower and its Subsidiaries solely for general corporate
purposes of the Borrower and its Subsidiaries. 

  
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 3.17 Environmental Matters. Except to the extent any of the following could not
reasonably be expected to have a Material Adverse Effect: 
 (a) To the best knowledge of the Borrower, the facilities and
properties owned, leased or operated by the Borrower or any of its Subsidiaries (the “Properties”) do not contain, and have not previously contained, any Materials of Environmental Concern in amounts or concentrations which
(i) constitute or constituted a violation of, or (ii) could reasonably be expected to give rise to liability under, any Environmental Law. 
 (b) The Properties and all operations at the Properties are in compliance in all material respects with all applicable Environmental Laws, and there is no contamination at, under or about the Properties
or violation of any Environmental Law with respect to the Properties or the business operated by the Borrower or any of its Subsidiaries (the “Business”) which could materially interfere with the continued operation of the
Properties or materially impair the fair saleable value thereof. 
 (c) Neither the Borrower nor any of its Subsidiaries has
received any notice of violation, alleged violation, non-compliance, liability or potential liability regarding environmental matters or compliance with Environmental Laws with regard to any of the Properties or the Business, nor does the Borrower
have knowledge or reason to believe that any such notice will be received or is being threatened. 
 (d) No judicial proceeding
or governmental or administrative action is pending or, to the knowledge of the Borrower, threatened, under any Environmental Law to which the Borrower or any Subsidiary is or will be named as a party with respect to the Properties or the Business,
nor are there any consent decrees or other decrees, consent orders, administrative orders or other orders, or other administrative or judicial requirements outstanding under any Environmental Law with respect to the Properties or the Business.

 SECTION 4. CONDITIONS PRECEDENT 
 4.1 Conditions to Initial Loan. The agreement of each Lender to make the initial Loan requested to be made by it is subject to the satisfaction of the following conditions precedent (or until such
conditions are waived pursuant to Section 9.1): 
 (a) Loan Documents. The Managing Administrative Agent shall have
received (i) this Agreement, executed and delivered by a duly authorized officer of the Borrower and (ii) for the account of any Swing Line Lender that requested a Swing Line Note, such Swing Line Note, conforming to the requirements
hereof and for the account of any Lender that requested a Revolving Credit Note, such Revolving Credit Note, conforming to the requirements hereof, each executed by a duly authorized officer of the Borrower. 

(b) Closing Certificate. The Managing Administrative Agent shall have received, with a copy for each Lender, a closing certificate
of the Borrower, dated the Closing Date, substantially in the form of Exhibit C, with appropriate insertions and attachments, satisfactory in form and 

  
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substance to the Managing Administrative Agent, executed by the President or his designee or any Vice President or Treasurer or Assistant Treasurer and the Secretary or any Assistant Secretary of
the Borrower. 
 (c) Corporate Proceedings. The Managing Administrative Agent shall have received a copy of the
resolutions, in form and substance reasonably satisfactory to the Managing Administrative Agent, of the Board of Directors of the Borrower authorizing (i) the execution, delivery and performance by the Borrower of this Agreement and the other
Loan Documents and (ii) the making of the borrowings and the uses of the proceeds contemplated hereunder certified by its Secretary or an Assistant Secretary as of the Closing Date, which certificate shall be in form and substance satisfactory
to the Managing Administrative Agent and shall state that the resolutions thereby certified have not been amended, modified, revoked or rescinded. 
 (d) Incumbency Certificate. The Managing Administrative Agent shall have received a certificate of the Borrower, dated the Closing Date, as to the incumbency and signature of its officers executing
any Loan Document, satisfactory in form and substance to the Managing Administrative Agent, executed by its President or any Vice President and its Secretary or any Assistant Secretary. 

(e) Corporate Documents. The Managing Administrative Agent shall have received true and complete copies of the certificate of
incorporation and by-laws of the Borrower, certified as of the Closing Date as complete and correct copies thereof by the Secretary or an Assistant Secretary of the Borrower. 
 (f) Fees. The Managing Administrative Agent shall have received the fees to be received on the Closing Date. 
 (g) Legal Opinions. The Managing Administrative Agent shall have received (i) the executed legal opinion of Noah J. Hanft, Esq., General Counsel and Secretary of the Borrower, substantially in
the form of Exhibit F-1, and (ii) the executed legal opinion of Milbank, Tweed, Hadley & McCloy LLP, special New York counsel to the Managing Administrative Agent, substantially in the form of Exhibit F-2, each dated the Closing
Date and covering such other matters incident to the transactions contemplated by this Agreement as the Managing Administrative Agent may reasonably require. 
 (h) Existing Credit Agreement. The Managing Administrative Agent shall have received evidence satisfactory to it that the commitments under the Existing Credit Agreement have been canceled and all
amounts outstanding thereunder shall have been repaid as of the Closing Date (and each Lender which is a party to the Existing Credit Agreement hereby waives compliance with the requirement under Section 2.4 of the Existing Credit Agreement for
the giving of one Business Day’s prior written notice for termination of the commitments thereunder, so long as such written notice is given not later than 11:00 A.M., New York City time, on the date of such termination). 

(i) Other. The Managing Administrative Agent shall have received such other documents in connection with this Agreement as the
Managing Administrative Agent may reasonably request. 

  
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 4.2 Conditions to Each Loan. The agreement of each Lender to make any Loan requested
to be made by it on any date (including, without limitation, its initial Loan, but except as otherwise provided in Section 2.18(c)) is subject to the satisfaction of the following conditions precedent: 

(a) Representations and Warranties. Each of the representations and warranties made by the Borrower pursuant to Section 3 of
this Agreement (excluding the representations and warranties made by the Borrower in Sections 3.2 and 3.6) shall be true and correct in all material respects (except that such representations and warranties that are qualified as to materiality
shall be true and correct in all respects) on and as of such date as if made on and as of such date (immediately before and immediately after giving effect to such Loan and to the application of the proceeds therefrom) except for representations and
warranties expressly stated to relate to a specific earlier date, in which case such representations and warranties were true and correct as of such earlier date. 
 (b) No Default. No Default or Event of Default shall have occurred and be continuing on such date or after giving effect to the Loans requested to be made on such date. 

Each borrowing by the Borrower hereunder shall constitute a representation and warranty by the Borrower as of the date thereof that the conditions
contained in this Section have been satisfied. 
 SECTION 5. AFFIRMATIVE COVENANTS 

The Borrower hereby agrees that, so long as the Commitments remain in effect or any amount is owing to any Lender or the Managing
Administrative Agent hereunder or under any other Loan Document (other than contingent indemnification and expense reimbursement obligations not due and payable), the Borrower shall and (except in the case of delivery of financial information,
reports and notices) shall cause each of its Subsidiaries to: 
 5.1 Financial Statements. Furnish to each Lender:

 (a) as soon as available, but in any event within 120 days after the end of each fiscal year of the Borrower, a copy of the
consolidated balance sheet of the Borrower and its consolidated Subsidiaries as at the end of such year and the related consolidated statements of income and retained earnings and of cash flows for such year, setting forth in each case in
comparative form the figures for the previous year, reported on without a “going concern” or like qualification or exception, or qualification arising out of the scope of the audit, by PricewaterhouseCoopers LLP or other independent
certified public accountants of nationally recognized standing; and 
 (b) as soon as available, but in any event not later than
60 days after the end of each of the first three quarterly periods of each fiscal year of the Borrower, the unaudited consolidated balance sheet of the Borrower and its consolidated Subsidiaries as at the end of such quarter and the related
unaudited consolidated statements of income and retained earnings of such quarter and of cash flows of the Borrower and its consolidated Subsidiaries for the portion of the fiscal year through the end of such quarter, setting forth in each case in
comparative form the figures 

  
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for the previous year or, in the case of such consolidated balance sheet, for the last day of the prior fiscal year, certified by a Responsible Officer as being fairly stated in all material
respects (subject to normal year-end audit adjustments); 
 all such financial statements shall be complete and correct in all material respects
and shall be prepared in reasonable detail and in accordance with GAAP applied consistently throughout the periods reflected therein and with prior periods (except as approved by such accountants or officer, as the case may be, and disclosed
therein). Information required to be delivered pursuant to this Section 5.1 shall be deemed to have been delivered to the Lenders on the date on which the Borrower provides written notice to the Managing Administrative Agent that such
information has been posted on the Borrower’s website on the Internet at http://www.mastercard.com or in an internet or intranet website to which each Lender has access or is available on the website of the Securities and Exchange
Commission or any successor at http://www.sec.gov (to the extent such information has been posted or is available as described in such notice). 
 5.2 Certificates; Other Information. Furnish to the Managing Administrative Agent: 
 (a) concurrently with the delivery of the financial statements referred to in subsections 5.1(a) and (b), a certificate of a Responsible Officer, substantially in the form of Exhibit I, stating that,
to the best of such Responsible Officer’s knowledge, during such period the Borrower has observed or performed all of its covenants and other agreements, and satisfied every condition, contained in this Agreement and the other Loan Documents to
be observed, performed or satisfied by it, and that such Responsible Officer has obtained no knowledge of any Default or Event of Default except as specified in such certificate; 

(b) within five days after the same are filed, copies of all financial statements and reports which the Borrower files with the
Securities and Exchange Commission or any successor Governmental Authority; provided, that any such financial statement or report shall be deemed to have been delivered on the date that the Borrower notifies the Managing Administrative Agent
that such financial statement or report is available on “EDGAR”, the Electronic Data Gathering, Analysis and Retrieval system of the Securities and Exchange Commission, or at http://www.sec.gov/edgar.shtml or at another relevant
website identified to the Lenders and accessible to such Lenders; and 
 (c) promptly, such additional financial and other
information (other than any non-public information or materials pertaining to the Borrower’s proprietary new products, systems or services, proprietary marketing programs, strategies or plans, or any member specific billing, contractual or
other arrangements) as the Managing Administrative Agent or any Lender through the Managing Administrative Agent may from time to time reasonably request. 
 5.3 Payment of Obligations. Pay, discharge or otherwise satisfy at or before maturity or before they become delinquent, as the case may be, all its obligations of whatever nature, except
(i) where the amount or validity thereof is currently being contested in good faith by appropriate proceedings 

  
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and reserves in conformity with GAAP with respect thereto have been provided on the books of the Borrower or its Subsidiaries, as the case may be or (ii) to the extent that failure to comply
therewith could not, in the aggregate, be reasonably expected to have a Material Adverse Effect. 
 5.4 Conduct of Business
and Maintenance of Existence. Continue to engage in business of the same general type as now conducted by it and preserve, renew and keep in full force and effect its existence and take all reasonable action to maintain all rights, privileges
and franchises necessary or desirable in the normal conduct of its business except as otherwise permitted pursuant to Section 6.3 or 6.6 unless the failure to do so could not reasonably be expected to have a Material Adverse Effect; and
comply with all Contractual Obligations and Requirements of Law except to the extent that failure to comply therewith could not, in the aggregate, be reasonably expected to have a Material Adverse Effect. 

5.5 Maintenance of Property; Insurance. Keep all property material to the business of the Borrower and its Subsidiaries taken as a
whole in good working order and condition ordinary wear and tear excepted; maintain with financially sound and reputable insurance companies or through a self-insurance program deemed reasonable by the Borrower insurance on all its property in at
least such amounts and against at least such risks as are, to the Borrower’s knowledge, usually insured against in the same general area by companies engaged in the same or a similar business. 

5.6 Inspection of Property; Books and Records; Discussions. Keep proper books of records and account in which full, true and
correct entries in conformity with GAAP (or such other commonly accepted accounting practice which has been previously disclosed to the Managing Administrative Agent) shall be made of all dealings and transactions in relation to its business and
activities; and permit representatives of any Lender (coordinated through the Managing Administrative Agent) to visit and inspect any of its properties and examine and make abstracts from any of its books and records (other than any non-public
information or materials pertaining to (i) its proprietary new products, systems or services, (ii) its proprietary marketing programs, strategies or plans, or (iii) any member specific billing, contractual or other arrangements) and
to discuss the business, operations, properties and financial and other condition of the Borrower and its Subsidiaries with officers and employees of the Borrower and its Subsidiaries and with its independent certified public accountants, in each
case during regular business hours upon reasonable advance notice and at any reasonable time but not more than once per fiscal year; provided that if a Default or Event of Default shall have occurred and be continuing, such visits and
inspections (coordinated through the Managing Administrative Agent) may be conducted at any time upon reasonable notice. 
 5.7
Notices. Promptly give notice to the Managing Administrative Agent for distribution to the Lenders of: 
 (a) the
occurrence of any Default or Event of Default; 
 (b) if the Borrower ceases to be a public reporting company under the
Securities Exchange Act of 1934, as amended, any (i) default or event of default under any Contractual 

  
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Obligation of the Borrower or any of its Subsidiaries or (ii) litigation, investigation or proceeding which may exist at any time between the Borrower or any of its Subsidiaries and any
Governmental Authority, which in either case, could reasonably be expected to have a Material Adverse Effect; 
 (c) if the
Borrower ceases to be a public reporting company under the Securities Exchange Act of 1934, as amended, any litigation or proceeding affecting the Borrower or any of its Subsidiaries as to which the Borrower determines that there is a reasonable
probability of an adverse judgment and in which the amount involved is $50,000,000 or more and not covered by insurance or in which injunctive or similar relief is sought; 
 (d) the following events, as soon as possible and in any event within 30 days after the Borrower knows or has reason to know thereof: (i) the occurrence of any Reportable Event with respect to any
Single Employer Plan, a failure to make any required contribution to any “pension plan” (as defined in Section 3(2) of ERISA), the creation of any Lien in favor of the PBGC or a Single Employer Plan, in each case that could reasonably
be expected to result in a liability or Lien in excess of $10,000,000 or (ii) the institution of proceedings or the taking of any other action by the PBGC or the Borrower or any Commonly Controlled Entity or any Multiemployer Plan with respect
to the withdrawal from, or the terminating, Reorganization or Insolvency of, any Multiemployer Plan, except where the termination, Reorganization or Insolvency of any Multiemployer Plan could not reasonably be expected to result in a liability in
excess of $10,000,000; 
 (e) any material adverse change in the business, operations, property or financial condition of the
Borrower and its Subsidiaries taken as a whole; and 
 (f) any change in the current last day of the fiscal quarter or the
fiscal year of the Borrower, prior to giving effect to any such change. 
 Each notice pursuant to this Section shall be accompanied by a
statement of a Responsible Officer setting forth details of the occurrence referred to therein (other than under paragraph (f)) and stating what action the Borrower proposes to take with respect thereto. Notices and other communications to the
Lenders required pursuant to paragraphs (b), (c), (d), (e) and (f) of this Section 5.7 may be delivered or furnished by electronic communications (including e-mail and Internet or intranet websites) pursuant to procedures
approved by the Managing Administrative Agent. 
 5.8 Environmental Laws. (a) Comply with, and ensure compliance by
all tenants and subtenants, if any, with, all applicable Environmental Laws and obtain and comply in all material respects with and maintain, and ensure that all tenants and subtenants obtain and comply in all material respects with and maintain,
any and all licenses, approvals, notifications, registrations or permits required by applicable Environmental Laws except to the extent that failure to do so could not be reasonably expected to have a Material Adverse Effect. 

(b) Conduct and complete all investigations, studies, sampling and testing, and all remedial, removal and other actions required under
Environmental Laws and promptly comply in 

  
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all material respects with all lawful orders and directives of all Governmental Authorities regarding Environmental Laws except to the extent that the failure to do so could not reasonably be
expected to have a Material Adverse Effect. 
 SECTION 6. NEGATIVE COVENANTS 

The Borrower hereby agrees that, so long as the Commitments remain in effect or any amount is owing to any Lender or the Managing
Administrative Agent hereunder or under any other Loan Document (other than contingent indemnification and expense reimbursement obligations not due and payable), the Borrower shall not and shall not permit any of its Subsidiaries to, directly or
indirectly: 
 6.1 Consolidated Leverage Ratio. Permit the Consolidated Leverage Ratio to be greater than 3.50 to 1.00 on
the last day of any fiscal quarter of the Borrower. 
 6.2 Limitation on Liens. Create, incur, assume or suffer to exist
any Lien upon any of its property, assets or revenues, whether now owned or hereafter acquired, except for: 
 (a) Liens for
taxes and other governmental charges not yet due or which are being contested in good faith by appropriate proceedings, provided that adequate reserves with respect thereto are maintained on the books of the Borrower or its Subsidiaries, as
the case may be, in conformity with GAAP; 
 (b) carriers’, warehousemen’s, mechanics’, materialmen’s,
repairmen’s, landlord’s or other like Liens arising in the ordinary course of business which are not overdue for a period of more than 60 days or which are being contested in good faith by appropriate proceedings; 

(c) pledges, deposits or similar liens in connection with workers’ compensation, unemployment insurance and other social security
legislation or regulation and deposits securing liability to insurance carriers under insurance or self-insurance arrangements; 

(d) (A) deposits to secure the performance of bids, trade contracts (other than for borrowed money), leases or subleases, statutory
obligations, utilities, surety and appeal bonds, performance bonds and other obligations of a like nature incurred in the ordinary course of business and (B) deposits to secure swaps and other derivatives entered into by the Borrower or any of
its Subsidiaries to hedge against risks arising in the ordinary course of business in connection with transactions not prohibited under this Agreement (and not entered into for speculative purposes); 

(e) easements, rights-of-way, restrictions and other similar encumbrances which, in the aggregate, do not in any case materially detract
from the value of the property subject thereto or materially interfere with the ordinary conduct of the business of the Borrower and its Subsidiaries taken as a whole; 

  
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 (f) Liens in existence on the date hereof listed on Schedule 6.2(f), provided that no
such Lien is spread to cover any additional property after the Closing Date and that the amount of Indebtedness secured thereby is not increased; 
 (g) Liens securing Indebtedness of the Borrower and its Subsidiaries incurred to finance the acquisition of fixed or capital assets (or any refinancing thereof that does not increase the amount of such
Indebtedness outstanding at the time of such refinancing plus fees and expenses incurred in connection with such refinancing), provided that (i) such Liens shall be created at or not later than 180 days after the acquisition of such
fixed or capital assets and (ii) such Liens do not at any time encumber any property other than the property financed by such Indebtedness; 
 (h) bankers’ liens or other liens of financial institutions, in each case arising by operation of law in the ordinary course of business; 

(i) Liens on the property or assets of a Person which becomes a Subsidiary on or after the date hereof securing Indebtedness of such
Person or liens on any property or assets acquired after the Closing Date, provided that (i) such Liens existed at the time such Person became a Subsidiary or at the time of such acquisition, as the case may be (the “relevant
time”), and were not created in anticipation thereof and (ii) any such Lien is not spread to cover any additional property or assets after the relevant time, other than proceeds of such property or assets to the extent such proceeds were
covered by the grant of security in existence at the relevant time and such grant was not created in anticipation thereof; 

(j) (A) Liens arising out of judgments or awards (x) which are stayed or bonded pending appeal or (y) with respect to
which an appeal or a proceeding for review is being prosecuted in good faith and adequate reserves have been provided for the payment of such judgment or award and (B) Liens constituting escrow deposits or similar deposit arrangements
(including, without limitation, a “Qualified Settlement Fund” within the meaning of Treasury Regulation §1.468B-1 and any analogous local, state, and/or foreign statute, law, regulation, or rule) with respect to the payment of
settlements that are not yet final or that remain subject to appeal; 
 (k) Liens in favor of the Borrower which secure the
obligation of any Subsidiary to the Borrower; 
 (l) Liens attaching to deposits in connection with any letter of intent,
purchase agreement or similar agreement in connection with acquisitions; 
 (m) any interest or title of a lessor or lessee
under any lease entered in the ordinary course of business and covering only the assets so leased, to the extent that the same would constitute a Lien; 
 (n) Liens (not otherwise permitted hereunder) which secure obligations not exceeding (as to the Borrower and all Subsidiaries) in aggregate an amount equal to the lesser of: (x) $400,000,000 or
(y) 4.0% of consolidated total assets of the Borrower and its Subsidiaries as of the end of the fiscal quarter for which financial statements have been delivered pursuant to Section 5.1 most recently prior to the time the latest such Lien
is incurred. 
 For purposes of determining compliance with this Section 6.2, the amount of obligations secured by Liens
denominated in any currency other than Dollars shall be calculated based on customary currency exchange rates in effect on the latest date that obligations secured by such Liens were incurred. 

  
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 6.3 Limitation on Fundamental Changes. Enter into any merger, consolidation or
amalgamation, or liquidate, wind up or dissolve itself (or suffer any liquidation or dissolution), or convey, sell, lease, assign, transfer or otherwise dispose of, all or substantially all of its property, business or assets, except: 

(a) if no Default or Event of Default shall have occurred and be continuing or would result therefrom, including without limitation under
Section 7(i), the Borrower may be merged or consolidated with or into any other Person subject to the satisfaction of the following conditions: (i) the Borrower shall be the continuing or surviving corporation or (ii) (x) the
survivor shall be organized under the laws of a state in the United States and shall assume the Borrower’s obligations under this Agreement and the other Loan Documents under an agreement in form and substance reasonably satisfactory to the
Managing Administrative Agent, (y) the survivor shall furnish to the Lenders all information necessary for them to comply with the Act (as defined in Section 9.17) and (z) if the Managing Administrative Agent so requests, it shall
receive a legal opinion from outside counsel to the survivor reasonably satisfactory to the Managing Administrative Agent; 

(b) any wholly owned Subsidiary may be merged or consolidated with or into any other wholly owned Subsidiary or (subject to
Section 6.3(a)) the Borrower, and any Subsidiary may sell, lease, transfer or dispose of any or all of its assets (upon voluntary liquidation, winding up, dissolution or otherwise) to a wholly owned Subsidiary or the Borrower; and 

(c) as permitted by Section 6.4 (including by way of merger, voluntary liquidation, winding up, dissolution or otherwise).

 6.4 Limitation on Transfer or Disposition of Assets. Convey, sell, lease, assign, transfer or otherwise dispose of any
of its property, business or assets (including, without limitation, receivables and leasehold interests), whether now owned or hereafter acquired, or, in the case of any Subsidiary, issue or sell any shares of such Subsidiary’s Capital Stock to
any Person other than the Borrower or any wholly-owned Subsidiary, except: 
 (a) the sale or other disposition of obsolete or
worn out property in the ordinary course of business; 
 (b) the sale of cash and cash equivalents and similar investments in
the ordinary course of business in connection with cash management activities or the use of proceeds thereof; 
 (c) the sale or
other disposition of any property (including the issuance of shares of any Subsidiary’s Capital Stock); provided that the aggregate book value of all assets so sold or disposed of pursuant to this clause (c) in any period of twelve
consecutive months shall not exceed an amount equal to 25% of consolidated total assets of the Borrower and its Subsidiaries as at the beginning of such twelve-month period; 

  
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 (d) the sale or disposition of (i) the headquarters of the Borrower located at 2000
Purchase Street, Purchase, New York 10577-2509 or (ii) the property of the Borrower located at 2200 MasterCard Boulevard, O’Fallon, Missouri 63368-7263, provided that in the case of this clause (ii) such sale or disposition is made in
connection with the transfer and relocation of the operations currently located in such property to a different location of the Borrower or its Subsidiaries; 
 (e) the sale of inventory in the ordinary course of business; 
 (f) the sale or
discount without recourse of accounts receivable arising in the ordinary course of business in connection with the compromise or collection thereof; and 
 (g) as permitted by subsection 6.3(b); 
 6.5 Limitation on Transactions with
Affiliates. Enter into any transaction, including, without limitation, any purchase, sale, lease or exchange of property or the rendering of any service, with any Affiliate (other than any transaction permitted by the terms of this Agreement and
any transaction between the Borrower and its consolidated Subsidiaries) unless such transaction is upon fair and reasonable terms. 
 6.6 Limitation on Lines of Business. Enter into any business, either directly or through any Subsidiary, except for businesses (a) in which the Borrower and its Subsidiaries are engaged on the
date of this Agreement or (b) which, after giving effect to such new business, would not result in a change in the primary business of the Borrower and its Subsidiaries, taken as a whole, on the date hereof. 

SECTION 7. EVENTS OF DEFAULT 
 If any of the following events shall occur and be continuing: 
 (a) The
Borrower shall fail to pay any principal of any Loan when due in accordance with the terms hereof; or the Borrower shall fail to pay any interest on any Loan, or any other amount payable hereunder (other than principal), within five days after any
such interest or other amount becomes due in accordance with the terms hereof; or 
 (b) Any representation or warranty
made or deemed made by the Borrower herein or in any other Loan Document or which is contained in any certificate furnished by it at any time under or in connection with this Agreement shall prove to have been incorrect in any material respect (or,
in the case of any such representation and warranty that is qualified as to materiality, in any respect) on or as of the date made or deemed made; or 
 (c) The Borrower shall default in the observance or performance of any agreement contained in Section 5.7(a) or Section 6; or 

(d) the Borrower shall default in the observance or performance of any other term, covenant or agreement contained in this Agreement
(other than as provided in paragraphs (a) through (c) of this Section), and such default shall continue unremedied for a period of 30 days after notice to the Borrower by the Managing Administrative Agent or the Required Lenders; or

  
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 (e) The Borrower or any of its Subsidiaries shall (i) default in any payment of
principal of or interest on any Indebtedness (other than the Loans) in excess of $150,000,000 in the aggregate, beyond the period of grace (not to exceed 30 days), if any, provided in the instrument or agreement under which such Indebtedness was
created, or (ii) fail to observe or perform any other agreement or condition relating to any such Indebtedness or contained in any instrument or agreement evidencing, securing or relating thereto, or any other event shall occur or condition
exist, the effect of which failure or other event or condition is to cause such Indebtedness to become due prior to its stated maturity, provided, that this paragraph (e) shall not apply to Indebtedness that becomes due, or under which a
default occurs, as a result of the voluntary sale or transfer of property or assets if such sale or transfer is permitted hereunder and such Indebtedness is paid by the relevant obligor; or 

(f) (i) The Borrower or any of its Material Subsidiaries shall commence any case, proceeding or other action (A) under any
existing or future law of any jurisdiction, domestic or foreign, relating to bankruptcy, insolvency, reorganization or relief of debtors, seeking to have an order for relief entered with respect to it, or seeking to adjudicate it as bankrupt or
insolvent, or seeking reorganization, arrangement, adjustment, winding-up, liquidation, dissolution, composition or other relief with respect to it or its debts, or (B) seeking appointment of a receiver, trustee, custodian, conservator or other
similar official for it or for all or any substantial part of its assets, or the Borrower or any of its Material Subsidiaries shall make a general assignment for the benefit of its creditors; or (ii) there shall be commenced against the
Borrower or any of its Material Subsidiaries any case, proceeding or other action of a nature referred to in clause (i) above which (A) results in the entry of an order for relief or any such adjudication or appointment or (B) remains
undismissed, undischarged or unbonded for a period of 90 days; or (iii) there shall be commenced against the Borrower or any of its Material Subsidiaries any case, proceeding or other action seeking issuance of a warrant of attachment,
execution, distraint or similar process against all or any substantial part of its assets which results in the entry of an order for any such relief which shall not have been vacated, discharged, or stayed or bonded pending appeal within 60 days
from the entry thereof; or (iv) the Borrower or any of its Material Subsidiaries shall take any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any of the acts set forth in clause (i), (ii), or
(iii) above; or (v) the Borrower or any of its Material Subsidiaries shall generally not, or shall be unable to, or shall admit in writing its inability to, pay its debts as they become due; or 

(g) (i) Any Person shall engage in any “prohibited transaction” (as defined in Section 406 of ERISA or
Section 4975 of the Code) involving any Single Employer Plan, (ii) any “accumulated funding deficiency” (as defined in Section 302 of ERISA), whether or not waived, shall exist with respect to any Single Employer Plan or any
Lien in favor of the PBGC or a Single Employer Plan shall arise on the assets of the Borrower, (iii) a Reportable Event shall occur with respect to, or proceedings shall commence to have a trustee appointed, or a trustee shall be appointed, to
administer or to terminate, any Single Employer Plan, which Reportable Event or commencement of proceedings or appointment of a trustee is likely to result in the termination of such Plan for purposes of Title IV of ERISA, (iv) any Single
Employer Plan shall terminate for purposes of Title IV of ERISA or (v) the Borrower or any Commonly Controlled 

  
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Entity shall incur any liability in connection with a withdrawal from, or the Insolvency or Reorganization of, a Multiemployer Plan; and in each case in clauses (i) through (v) above,
such event or condition, together with all other such events or conditions, if any, could reasonably be expected to have a Material Adverse Effect; or 
 (h) One or more judgments or decrees shall be entered against the Borrower or any of its Subsidiaries involving a liability (to the extent not paid or fully covered by insurance) of $150,000,000 or
more in the aggregate for all such judgments and decrees, and all such judgments or decrees shall not have been vacated, discharged, satisfied, stayed or bonded pending appeal within 90 days from the entry thereof; or 

(i) Any Person or “group” (within the meaning of Section 13(d) or 14(d) of the Securities Exchange Act of 1934,
as amended) (i) shall have acquired beneficial ownership of Capital Stock representing 35% or more of the aggregate ordinary voting power in the election of directors of the Borrower or (ii) shall obtain the power (whether or not
exercised) to elect a majority of the Borrower’s directors; or the Borrower shall cease to own, beneficially and of record, the sole Class B membership interest in International or shall cease to have power to elect a majority of
International’s directors; 
 then, and in any such event, (A) if such event is an Event of Default specified in clause (i)
or (ii) of paragraph (f) of this Section with respect to the Borrower, automatically the Commitments shall immediately terminate and the Loans hereunder (with accrued interest thereon) and all other amounts owing under this Agreement and
the Notes shall immediately become due and payable, and (B) if such event is any other Event of Default, either or both of the following actions may be taken: (i) with the consent of the Required Lenders, the Managing Administrative Agent
may, or upon the request of the Required Lenders, the Managing Administrative Agent shall, by notice to the Borrower declare the Commitments to be terminated forthwith, whereupon the Commitments shall immediately terminate; and (ii) with the
consent of the Required Lenders, the Managing Administrative Agent may, or upon the request of the Required Lenders, the Managing Administrative Agent shall, by notice to the Borrower, declare the Loans hereunder (with accrued interest thereon) and
all other amounts owing under this Agreement and the Notes to be due and payable forthwith, whereupon the same shall immediately become due and payable. Except as expressly provided above in this Section, presentment, demand, protest and all other
notices of any kind are hereby expressly waived. 
 SECTION 8. THE MANAGING ADMINISTRATIVE AGENT 

8.1 Appointment. Each Lender hereby irrevocably designates and appoints the Managing Administrative Agent as the agent of such
Lender under this Agreement and the other Loan Documents, and each such Lender irrevocably authorizes the Managing Administrative Agent, in such capacity, to take such action on its behalf under the provisions of this Agreement and the other Loan
Documents and to exercise such powers and perform such duties as are expressly delegated to the Managing Administrative Agent by the terms of this Agreement and the other Loan Documents, together with such other powers as are reasonably incidental
thereto. Notwithstanding any provision to the contrary elsewhere in this Agreement, the Managing 

  
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Administrative Agent shall not have any duties or responsibilities, except those expressly set forth herein, or any fiduciary relationship with any Lender, and no implied covenants, functions,
responsibilities, duties, obligations or liabilities shall be read into this Agreement or any other Loan Document or otherwise exist against the Managing Administrative Agent. 
 8.2 Delegation of Duties. The Managing Administrative Agent may execute any of its duties under this Agreement and the other Loan Documents by or through agents or attorneys-in-fact and shall be
entitled to advice of counsel concerning all matters pertaining to such duties. The Managing Administrative Agent shall not be responsible for the negligence or misconduct of any agents or attorneys-in-fact selected by it with reasonable care.

 8.3 Exculpatory Provisions. Neither the Managing Administrative Agent nor any of its officers, directors, employees,
agents, attorneys-in-fact or Affiliates shall be (i) liable for any action lawfully taken or omitted to be taken by it or such Person under or in connection with this Agreement or any other Loan Document (except for its or such Person’s
own gross negligence or willful misconduct) or (ii) responsible in any manner to any of the Lenders for any recitals, statements, representations or warranties made by the Borrower or any officer thereof contained in this Agreement or any other
Loan Document or in any certificate, report, statement or other document referred to or provided for in, or received by the Managing Administrative Agent under or in connection with, this Agreement or any other Loan Document or for the value,
validity, effectiveness, genuineness, enforceability or sufficiency of this Agreement or any other Loan Document or for any failure of the Borrower to perform its obligations hereunder or thereunder. The Managing Administrative Agent shall not be
under any obligation to any Lender to ascertain or to inquire as to the observance or performance of any of the agreements contained in, or conditions of, this Agreement or any other Loan Document, or to inspect the properties, books or records of
the Borrower or any of its Subsidiaries. 
 8.4 Reliance by Managing Administrative Agent. The Managing Administrative
Agent shall be entitled to rely, and shall be fully protected in relying, upon any Note, writing, resolution, notice, consent, certificate, affidavit, letter, telecopy, or teletype message, statement, order or other document or conversation believed
by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal counsel (including, without limitation, counsel to the Borrower), independent accountants and other experts
selected by the Managing Administrative Agent. The Managing Administrative Agent may deem and treat the payee of any Note as the owner thereof for all purposes unless a written notice of assignment, negotiation or transfer thereof shall have been
filed with the Managing Administrative Agent. The Managing Administrative Agent shall be fully justified in failing or refusing to take any action under this Agreement or any other Loan Document unless it shall first receive such advice or
concurrence of the Required Lenders (or such other Lenders as may be required hereunder) as it deems appropriate or it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense which may be incurred by
it by reason of taking or continuing to take any such action. The Managing Administrative Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the other Loan Documents in accordance with a
request of the Required Lenders (or such other Lenders as may be required hereunder), and such request and any action taken or failure to act pursuant thereto shall be binding upon all the Lenders and all future holders of the Loans. 

  
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 8.5 Notice of Default. The Managing Administrative Agent shall not be deemed to have
knowledge or notice of the occurrence of any Default or Event of Default (other than an Event of Default consisting of failure of the Borrower to pay when due any principal of or interest on a Loan) hereunder unless the Managing Administrative Agent
has received notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default”. In the event that the Managing Administrative Agent receives
such a notice, the Managing Administrative Agent shall give prompt notice thereof to the Lenders. The Managing Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the
Required Lenders; provided that unless and until the Managing Administrative Agent shall have received such directions, the Managing Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such
action, with respect to such Default or Event of Default as it shall deem advisable in the best interests of the Lenders. 
 8.6
Non-Reliance on Managing Administrative Agent and Other Lenders. Each Lender expressly acknowledges that neither the Managing Administrative Agent nor any of its officers, directors, employees, agents, attorneys-in-fact or Affiliates has made
any representations or warranties to it and that no act by the Managing Administrative Agent hereinafter taken, including any review of the affairs of the Borrower or any of its Subsidiaries, shall be deemed to constitute any representation or
warranty by the Managing Administrative Agent to any Lender. Each Lender represents to the Managing Administrative Agent that it has, independently and without reliance upon the Managing Administrative Agent or any other Lender, and based on such
documents and information as it has deemed appropriate, made its own appraisal of and investigation into the business, operations, property, financial and other condition and creditworthiness of the Borrower and made its own decision to make its
Loans hereunder and enter into this Agreement. Each Lender also represents that it will, independently and without reliance upon the Managing Administrative Agent or any other Lender, and based on such documents and information as it shall deem
appropriate at the time, continue to make its own credit analysis, appraisals and decisions in taking or not taking action under the Loan Documents, and to make such investigation as it deems necessary to inform itself as to the business,
operations, property, financial and other condition and creditworthiness of the Borrower or any of its Subsidiaries. Except for notices, reports and other documents expressly required to be furnished to the Lenders by the Managing Administrative
Agent hereunder, the Managing Administrative Agent shall not have any duty or responsibility to provide any Lender with any credit or other information concerning the business, operations, property, condition (financial or otherwise), prospects or
creditworthiness of the Borrower or any of their Subsidiaries which may come into the possession of the Managing Administrative Agent or any of its officers, directors, employees, agents, attorneys-in-fact or Affiliates. 

8.7 Indemnification. The Lenders agree to indemnify the Managing Administrative Agent in its capacity as such (to the extent not
reimbursed by the Borrower and without limiting the obligation of the Borrower to do so), ratably according to their respective Commitment Percentages in effect on 

  
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the date on which indemnification is sought, from and against any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any
kind whatsoever which may at any time (including, without limitation, at any time following the payment of the Loans) be imposed on, incurred by or asserted against the Managing Administrative Agent in any way relating to or arising out of, the
Commitments, this Agreement, (including, without limitation, enforcement of the Managing Administrative Agent’s rights under this Section) any of the other Loan Documents or any documents contemplated by or referred to herein or therein or the
transactions contemplated hereby or thereby or any action taken or omitted by the Managing Administrative Agent under or in connection with any of the foregoing; provided that no Lender shall be liable for the payment of any portion of such
liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements resulting from the Managing Administrative Agent’s gross negligence or willful misconduct. The agreements in this Section shall
survive the payment of the Loans and all other amounts payable hereunder. 
 8.8 Managing Administrative Agent in Its
Individual Capacity. The Managing Administrative Agent and its Affiliates may make loans to, accept deposits from and generally engage in any kind of business with the Borrower as though the Managing Administrative Agent were not the Managing
Administrative Agent hereunder and under the other Loan Documents. With respect to the Loans made by it, the Managing Administrative Agent shall have the same rights and powers under this Agreement and the other Loan Documents as any Lender and may
exercise the same as though it were not the Managing Administrative Agent, and the terms “Lender” and “Lenders” shall include the Managing Administrative Agent in its individual capacity. 

8.9 Successor Managing Administrative Agent. The Managing Administrative Agent may resign as Managing Administrative Agent upon 15
days’ notice to the Lenders, and the Managing Administrative Agent may be removed at any time with or without cause by the Required Lenders. Upon any such resignation or removal, the Required Lenders shall appoint from among the Lenders a
successor agent for the Lenders, which successor agent (provided that it shall have been approved by the Borrower (such approval not to be unreasonably withheld)), shall succeed to the rights, powers and duties of the Managing Administrative Agent
hereunder. Effective upon such appointment and approval, the term “Managing Administrative Agent” shall mean such successor agent, and the former Managing Administrative Agent’s rights, powers and duties as Managing Administrative
Agent shall be terminated, without any other or further act or deed on the part of such former Managing Administrative Agent or any of the parties to this Agreement or any holders of the Loans. After any retiring Managing Administrative Agent’s
resignation or removal as Managing Administrative Agent, the provisions of this Section 8 shall inure to its benefit as to any actions taken or omitted to be taken by it while it was Managing Administrative Agent under this Agreement and the
other Loan Documents. 
 8.10 Substitute Managing Administrative Agent. If at any time Citibank or the Borrower
reasonably determines that Citibank is prevented from carrying out its functions as Managing Administrative Agent hereunder as contemplated hereby, Citibank or the Borrower, as the case may be, shall forthwith so notify the Borrower or Citibank, as
the case may be, and the Administrative Agent (and Citibank shall promptly so notify the 

  
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Lenders), and the Administrative Agent shall thereupon automatically assume and perform all of the functions of the Managing Administrative Agent and shall be entitled to all of the rights and
benefits of the Managing Administrative Agent hereunder, until and only until such time as Citibank and the Borrower determine, and notify the Administrative Agent (which shall promptly notify the Lenders) that Citibank is no longer prevented from
carrying out its functions as Managing Administrative Agent hereunder as contemplated hereby, whereupon Citibank shall automatically resume and perform all of the functions of the Managing Administrative Agent hereunder. Each Lender agrees to the
foregoing and authorizes the Administrative Agent to assume and perform the functions of the Managing Administrative Agent under the circumstances set forth above. 
 8.11 Arrangers, Etc. The parties designated on the cover page hereof as “Lead Arrangers”, “Joint Lead Arrangers”, “Documentation Agents” shall have, in their
capacities as such, no responsibilities or liabilities under or in connection with this Agreement. 
 SECTION 9.
MISCELLANEOUS 
 9.1 Amendments and Waivers. Neither this Agreement nor any other Loan Document, nor any terms hereof or
thereof may be amended, supplemented or modified except in accordance with the provisions of this Section or as provided in Section 2.23 or 2.24. The Required Lenders may, or, with the written consent of the Required Lenders, the Managing
Administrative Agent may, from time to time, (a) enter into with the Borrower written amendments, supplements or modifications hereto and to the other Loan Documents for the purpose of adding any provisions to this Agreement or the other Loan
Documents or changing in any manner the rights of the Lenders or of the Borrower hereunder or thereunder or (b) waive, on such terms and conditions as the Required Lenders or the Managing Administrative Agent, as the case may be, may specify in
such instrument, any of the requirements of this Agreement or the other Loan Documents or any Default or Event of Default and its consequences; provided, however, that no such waiver and no such amendment, supplement or modification
shall (i) reduce the amount or extend the scheduled date of maturity of any Loan or reduce the stated rate of any interest or fee payable hereunder or extend the scheduled date of any payment thereof or increase the amount or extend the
expiration date of any Lender’s Commitment, in each case without the written consent of each Lender affected thereby, or (ii) reduce the voting rights of any Lender under this Section or amend, modify or waive subsection 9.6(a)
or reduce the percentage specified in the definition of Required Lenders, or consent to the assignment or transfer by the Borrower of any of its rights and obligations under this Agreement and the other Loan Documents, in each case without the
written consent of all the Lenders, or (iii) amend, modify or waive any provision of Section 8 without the written consent of the then Managing Administrative Agent and the Administrative Agent or (iv) amend, modify or waive any
provision of any Loan Document that adversely affects any Swing Line Lender in its capacity as such without the written consent of such Swing Line Lender. Any such waiver and any such amendment, supplement or modification shall apply equally to each
of the Lenders and shall be binding upon the Borrower, the Lenders, the Managing Administrative Agent and all future holders of the Loans. In the case of any waiver, the Borrower, the Lenders and the Managing Administrative Agent shall be restored
to their former positions and rights 

  
 61 

 
hereunder and under the other Loan Documents, and any Default or Event of Default waived shall be deemed to be cured and not continuing; no such waiver shall extend to any subsequent or other
Default or Event of Default or impair any right consequent thereon. 
 Anything herein to the contrary notwithstanding, during
such period as a Lender is a Defaulting Lender, to the fullest extent permitted by applicable law, such Lender will not be entitled to vote in respect of amendments and waivers hereunder and the Commitment and the outstanding Loans of such Lender
hereunder will not be taken into account in determining whether the Required Lenders or all of the Lenders, as required, have approved any such amendment or waiver (and the definition of “Required Lenders” will automatically be deemed
modified accordingly for the duration of such period); provided, that any such amendment or waiver that would increase or extend the term of the Commitment of such Defaulting Lender, extend the date fixed for the payment of principal or
interest owing to such Defaulting Lender hereunder, reduce the principal amount of any obligation owing to such Defaulting Lender, reduce the amount of or the rate or amount of interest on any amount owing to such Defaulting Lender or of any fee
payable to such Defaulting Lender hereunder, alter the terms of this proviso, or require consent of all the Lenders will require the consent of such Defaulting Lender. 
 9.2 Notices. (a) All notices, requests and demands to or upon the respective parties hereto to be effective shall be in writing (including by facsimile transmission) and, unless otherwise
expressly provided herein, shall be deemed to have been duly given or made (i) in the case of delivery by hand, when delivered, (ii) in the case of delivery by mail, three Business Days after being deposited in the mails, certified or
registered postage prepaid, or (iii) in the case of delivery by facsimile transmission, when sent and receipt has been confirmed, addressed as follows in the case of the Borrower and the Managing Administrative Agent, and as set forth in an
Administrative Questionnaire delivered to the Managing Administrative Agent in the case of the Lenders, or to such other address as may be hereafter notified by the respective parties hereto: 

 

			
	Borrower:	  	MasterCard Incorporated
		  	2000 Purchase Street
		  	Purchase, New York 10577-2509
		  	Attention: Sachin J. Mehra, Corporate Treasurer
		  	Fax: 914-249-3054
		  	Telephone: 914-249-4364
		
	The Managing	  	
	Administrative	  	
	Agent or the	  	
	Swing Line Lender:	  	Citibank, N.A.
		  	Attention: Suzanna Gallagher
		  	1615 Brett Road, Building No. 3
		  	New Castle, Delaware 19720
		  	Fax: 212-994-0961
		  	Telephone: 302-323-2478

  
 62 

			
		  	and
		
		  	Citibank, N.A.
		  	Attention: William Mandaro
		  	388 Greenwich Street
		  	New York, New York 10013
		  	Fax: 646-688-6821
		  	Telephone: 212-816-0852
		
	The Administrative	  	
	Agent or the	  	
	Swing Line Lender:	  	JPMorgan Chase Bank, N.A.
		  	Attention: Brittany Duffy or Aisha Lawani
		  	500 Stanton Christiana Road, Ops. 2, Floor 03
		  	Newark, Delaware 19713-2107
		  	Fax: 302-634-4733
		  	Phone: 302-634-8814 or 302-634-4733
		
	The Swing Line	  	Bank of China, New York Branch
	Lender	  	Attention: Wenzhen Zhang, Associate
		  	410 Madison Avenue
		  	New York, NY 10017
		  	Fax: 212-371-4185
		  	Phone: 646-231-3143
		
	The Swing Line	  	Lloyds TSB Bank plc
	Lender	  	Attention: Claudio Zamparini – Associate, Banking Operations
		  	Sarah O’Connor – AVP, Banking Operations
		  	1095 Avenue of the Americas
		  	New York, NY 10036
		  	Fax: 212-479-2807 or 212-930-5033
		  	Phone: 212-930-5060 or 212-450-0874
		
	The Swing Line	  	The Royal Bank of Scotland plc
	Lender	  	Attention: Lisa Shulsen
		  	600 Washington Blvd.
		  	Stamford, CT 06901
		  	Fax: 203-873-5019
		  	Phone: 801-312-6187
		
	The Swing Line	  	The Bank of Tokyo-Mitsubishi UFJ, Ltd.
	Lender	  	Attention: Dolores Ruland
		  	Loan Operations Department
		  	1251 Avenue of the Americas, 12th Floor
		  	New York, NY 10020-1104
		  	Fax: 201-521-2304 or 201-521-2305
		  	Phone: 201-413-8629

  
 63 

			
	The Swing Line	  	U.S. Bank, National Association
	Lender	  	Attention: Ann Marie Rogers
		  	Operations
		  	400 City Center
		  	Oshkosh, WI 54901
		  	Fax: 920-237-7370
		  	Phone: 920-237-7993

 provided that any notice, request or demand to or upon the Managing Administrative Agent or the Lenders pursuant
to Section 2.2, 2.4, 2.6, 2.7, 2.9, 2.17, 2.18 or 2.26 shall not be effective until received. 
 (b) The Borrower hereby
agrees that it will provide to the Managing Administrative Agent all information, documents and other materials that it is obligated to furnish to the Managing Administrative Agent pursuant to the Loan Documents, including, without limitation, all
notices, requests, financial statements, financial and other reports, certificates and other information materials, but excluding any such communication that (i) requests, or converts or continues under Section 2.7 hereof, a borrowing or
relates to the payment of any principal or other amount due under this Agreement prior to the scheduled date therefor, (ii) provides notice of any Default or Event of Default under this Agreement, (iii) is required to be delivered to
satisfy any condition precedent to the occurrence of the Closing Date and/or any borrowing, or (iv) initiates or responds to legal process (all such non-excluded communications being referred to herein collectively as
“Communications”), by transmitting the Communications in an electronic/soft medium (including Internet or intranet websites) in a format acceptable to the Managing Administrative Agent to oploanswebadmin@citigroup.com. In
addition, the Borrower agrees to continue to provide the Communications to the Managing Administrative Agent in the manner specified in the Loan Documents but only to the extent requested by the Managing Administrative Agent. 

(c) The Borrower further agrees that the Managing Administrative Agent may make the Communications available to the Lenders by posting
the Communications on Intralinks or a substantially similar electronic transmission system (the “Platform”). THE PLATFORM IS PROVIDED “AS IS” AND “AS AVAILABLE”. THE AGENT PARTIES (AS DEFINED BELOW) DO NOT
WARRANT THE ACCURACY OR COMPLETENESS OF THE COMMUNICATIONS, OR THE ADEQUACY OF THE PLATFORM AND EXPRESSLY DISCLAIM LIABILITY FOR ERRORS OR OMISSIONS IN THE COMMUNICATIONS. NO WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY, INCLUDING, WITHOUT
LIMITATION, ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF THIRD PARTY RIGHTS OR FREEDOM FROM VIRUSES OR OTHER CODE DEFECTS, IS MADE BY THE AGENT PARTIES IN CONNECTION WITH THE COMMUNICATIONS OR THE PLATFORM.
IN NO EVENT SHALL THE MANAGING ADMINISTRATIVE AGENT OR ANY OF ITS AFFILIATES OR ANY OF THEIR RESPECTIVE OFFICERS, DIRECTORS, EMPLOYEES, AGENTS, ADVISORS OR REPRESENTATIVES (COLLECTIVELY, THE “AGENT PARTIES”) HAVE ANY LIABILITY TO
THE BORROWER, ANY LENDER OR ANY OTHER PERSON OR ENTITY FOR DAMAGES OF ANY KIND, INCLUDING, WITHOUT LIMITATION, DIRECT OR INDIRECT, SPECIAL, INCIDENTAL OR CONSEQUENTIAL 

  
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DAMAGES, LOSSES OR EXPENSES (WHETHER IN TORT, CONTRACT OR OTHERWISE) ARISING OUT OF THE BORROWER’S OR THE MANAGING ADMINISTRATIVE AGENT’S TRANSMISSION OF COMMUNICATIONS THROUGH THE
INTERNET, EXCEPT TO THE EXTENT THE LIABILITY OF ANY AGENT PARTY IS FOUND IN A FINAL NON-APPEALABLE JUDGMENT BY A COURT OF COMPETENT JURISDICTION TO HAVE RESULTED PRIMARILY FROM SUCH AGENT PARTY’S GROSS NEGLIGENCE OR WILLFUL MISCONDUCT.

 (d) The Managing Administrative Agent agrees that the receipt of the Communications by the Managing Administrative Agent at
its e-mail address set forth above shall constitute effective delivery of the Communications to the Managing Administrative Agent for purposes of the Loan Documents. Each Lender agrees that notice to it (as provided in the next sentence) specifying
that the Communications have been posted to the Platform shall constitute effective delivery of the Communications to such Lender for purposes of the Loan Documents. Each Lender agrees (i) to provide to the Managing Administrative Agent in
writing (including by electronic communication), promptly after the date of this Agreement, an e-mail address to which the foregoing notice may be sent by electronic transmission and (ii) that the foregoing notice may be sent to such e-mail
address. 
 (e) Nothing herein shall prejudice the right of the Managing Administrative Agent or any Lender to give any notice
or other communication pursuant to any Loan Document in any other manner specified in such Loan Document. 
 9.3 No Waiver;
Cumulative Remedies. No failure to exercise and no delay in exercising, on the part of the Managing Administrative Agent or any Lender, any right, remedy, power or privilege hereunder or under the other Loan Documents shall operate as a waiver
thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege. The rights, remedies, powers and
privileges herein provided are cumulative and not exclusive of any rights, remedies, powers and privileges provided by law. 

9.4 Survival of Representations and Warranties. All representations and warranties made hereunder, in the other Loan Documents and
in any document, certificate or statement delivered pursuant hereto or in connection herewith shall survive the execution and delivery of this Agreement and the making of the Loans hereunder. 

9.5 Payment of Expenses and Taxes. The Borrower agrees (a) to pay or reimburse the Managing Administrative Agent for all
reasonable and documented fees, charges and disbursements of a single counsel incurred in connection with this Agreement and the other Loan Documents or the amendment, modification or waiver thereof, (b) to pay or reimburse each Lender and the
Managing Administrative Agent for all its costs and expenses incurred in connection with the enforcement or preservation of any rights under this Agreement (including, without limitation, this Section), the other Loan Documents and any such other
documents, including, without limitation, the reasonable fees and disbursements of a single counsel (except that in the case of a conflict of interest, the Borrower shall pay the costs and expenses of one additional counsel for each group of
similarly situated 

  
 65 

 
Lenders, taken as a whole) to the Lenders and the Managing Administrative Agent, (c) to pay, indemnify, and hold harmless each Lender, the Managing Administrative Agent, their respective
Affiliates and their respective officers, directors, employees, agents and advisors (each, an “Indemnitee”) from, any and all recording and filing fees and any and all liabilities with respect to, or resulting from any delay in
paying, stamp, excise and other taxes, if any, which may be payable or determined to be payable in connection with the execution and delivery of, or consummation or administration of any of the transactions contemplated by, or any amendment,
supplement or modification of, or any waiver or consent under or in respect of, this Agreement, the other Loan Documents and any such other documents, and (d) to pay, indemnify, and hold harmless each Indemnitee from and against any and all
other claims, liabilities, obligations, losses, damages and expenses (including, without limitation, reasonable fees and disbursements of counsel) with respect to the execution, delivery, enforcement, performance and administration of this Agreement
(including, without limitation, this Section), the other Loan Documents and any such other documents, including, without limitation, any investigative, administrative or judicial proceeding relating to the foregoing, or any of the foregoing relating
to any actual or proposed use of proceeds of the Loans or the violation of, noncompliance with or liability under, any Environmental Law applicable to the operations of the Borrower, any of their Subsidiaries or any of the Properties or arising out
of the Commitments (all the foregoing in this clause (d), collectively, the “indemnified liabilities”), provided that the Borrower shall have no obligation hereunder to any Indemnitee with respect to indemnified liabilities
arising from the gross negligence or willful misconduct of such Indemnitee or its officers, directors, employees, agents, advisors or Affiliates, or arises primarily out of breach by such Indemnified Party of its material obligations under this
Agreement, as determined by a final non-appealable judgment of a court of competent jurisdiction. The Borrower waives, to the maximum extent not prohibited by law, any right it may have to claim or recover in any legal action or proceeding referred
to in this Section any special, indirect, punitive or consequential damages. The agreements in this Section shall survive repayment of the Loans and all other amounts payable hereunder. 

9.6 Successors and Assigns; Participations and Assignments. 

(a) This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns,
except that (i) the Borrower may not assign or transfer any of its rights or obligations under this Agreement without the prior written consent of each Lender and (ii) no Lender may assign or transfer any of its rights or obligations under
this Agreement to a Defaulting Lender. 
 (b) Any Lender may, in the ordinary course of its commercial banking business and in
accordance with applicable law, at any time sell to one or more banks or other entities (“Participants”) participating interests in any Loan owing to such Lender, any Commitment or Swing Line Commitment of such Lender or any other
interest of such Lender hereunder and under the other Loan Documents. In the event of any such sale by a Lender of a participating interest to a Participant, such Lender’s obligations under this Agreement to the other parties to this Agreement
shall remain unchanged, such Lender shall remain solely responsible for the performance thereof, such Lender shall remain the holder of any such Loan for all purposes under this Agreement and the other Loan Documents, and the Borrower and the
Managing Administrative Agent shall continue to deal solely and directly with such Lender in connection 

  
 66 

 
with such Lender’s rights and obligations under this Agreement and the other Loan Documents. No Lender shall be entitled to create in favor of any Participant, in the participation agreement
pursuant to which such Participants participating interest shall be created or otherwise, any right to vote on, consent to or approve any matter relating to this Agreement or any other Loan Document except for those specified in clauses (i),
(ii) and (iii) of the proviso to Section 9.1. The Borrower agrees that if amounts outstanding under this Agreement are due or unpaid, or shall have been declared or shall have become due and payable upon the occurrence of an Event of
Default, each Participant shall, to the maximum extent permitted by applicable law, be deemed to have the right of set-off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its
participating interest were owing directly to it as a Lender under this Agreement, provided that, in purchasing such participating interest, such Participant shall be deemed to have agreed to share with the Lenders the proceeds thereof as
provided in subsection 9.7(a) as fully as if it were a Lender hereunder. The Borrower also agrees that each Participant shall be entitled to the benefits of Sections 2.17, 2.18, 2.20 and 2.21 with respect to its participation in the
Commitments, Swing Line Commitments and the Loans outstanding from time to time as if it was a Lender; provided that, in the case of Section 2.21, such Participant shall have complied with the requirements of said Section and
provided, further, that no Participant shall be entitled to receive any greater amount pursuant to any such Section than the transferor Lender would have been entitled to receive in respect of the amount of the participation
transferred by such transferor Lender to such Participant had no such transfer occurred. Each Lender that sells a participation shall, acting solely for this purpose as a non-fiduciary agent of the Borrower, maintain a register on which it enters
the name and address of each Participant and the principal amounts (and stated interest) of each Participant’s interest in the Loans or other obligations under the Loan Documents (the “Participant Register”); provided that no Lender
shall have any obligation to disclose all or any portion of the Participant Register to any Person (including the identity of any Participant or any information relating to a Participant’s interest in any Commitments, Loans, or its other
obligations under any Loan Document) except to the extent that such disclosure is necessary to establish that such Commitment, Loan, or other obligation is in registered form under Section 5f.103-1(c) of the United States Treasury Regulations.
The entries in the Participant Register shall be conclusive absent manifest error, and such Lender shall treat each Person whose name is recorded in the Participant Register as the owner of such participation for all purposes of this Agreement
notwithstanding any notice to the contrary. 
 (c) Subject to the provisions of subsection 9.6(d) relating to the
assignment of CAF Advances, any Lender may, in the ordinary course of its commercial banking business and in accordance with applicable law, at any time and from time to time assign to one or more banks or other financial institutions, including a
finance company or fund (whether a corporation, partnership or other entity) which is engaged in making, purchasing or otherwise investing in commercial loans in the ordinary course of its business, and having total assets in excess of $500,000,000,
(such bank or financial institution, an “Assignee”) all or any part of its rights and obligations under this Agreement and the other Loan Documents; provided, however, that 

(i) except in the case of an assignment (A) to a Lender or, subject to giving prior written notice thereof to the
Borrower and the Managing Administrative Agent, an Affiliate of a Lender which is a bank or financial institution or (B) of CAF Advances, each of the Managing Administrative Agent, each Swing Line Lender and (except when a

  
 67 

 
Default or Event of Default shall have occurred and be continuing) the Borrower must give its consent to such assignment (which in each case shall not be unreasonably withheld or delayed);
provided that the Borrower shall be deemed to have consented to any such assignment unless it shall object thereto by written notice to the Managing Administrative Agent within five Business Days (or, if the Borrower notifies the Managing
Administrative Agent during such period that it is considering such assignment but needs additional time, ten Business Days) after written notice of such assignment shall have delivered to the Borrower to the attention of its Treasurer and Assistant
Treasurer; 
 (ii) the rights and obligations of each Swing Line Lender relating to its Swing Line Loans and
Swing Line Commitment may be assigned or retained, at its option, independently of any of its other rights and obligations under the Loan Documents in connection with any assignment otherwise permitted hereunder; 

(iii) in the case of any assignment to any Assignee that is not a Lender or an Affiliate thereof, the sum of the aggregate
principal amount of the Loans and the aggregate amount of the Commitments and Swing Line Commitments being assigned and, if such assignment is of less than all of the rights and obligations of the assigning Lender, the sum of the aggregate principal
amount of the Loans and the aggregate amount of the Commitments and Swing Line Commitments remaining with the assigning Lender are each not less than $5,000,000 (or such lesser amount as may be agreed to by the Borrower and the Managing
Administrative Agent); and 
 (iv) such assignment shall be evidenced by an Assignment and Acceptance,
substantially in the form of Exhibit H, executed by such Assignee, such assigning Lender (and, in the case of an Assignee that is not then a Lender or an Affiliate thereof, by the Borrower and the Managing Administrative Agent) and delivered to the
Managing Administrative Agent for its acceptance and recording in the Register. 
 Upon such execution, delivery, acceptance and recording, from
and after the effective date determined pursuant to such Assignment and Acceptance, (x) the Assignee thereunder shall be a party hereto and, to the extent provided in such Assignment and Acceptance, have the rights and obligations of a Lender
hereunder with a Commitment or Swing Line Commitment as set forth therein, and (y) the assigning Lender thereunder shall, to the extent provided in such Assignment and Acceptance, be released from its obligations under this Agreement (and, in
the case of an Assignment and Acceptance covering all or the remaining portion of an assigning Lender’s rights and obligations under this Agreement such assigning Lender shall cease to be a party hereto). Notwithstanding any provision of this
paragraph (c) and paragraph (f) of this Section, the consent of the Borrower shall not be required, and, unless requested by the Assignee and/or the assigning Lender, new Notes shall not be required to be executed and delivered by the
Borrower, for any assignment which occurs at any time when any of the events described in Section 7(f) shall have occurred and be continuing. 
 (d) Any Lender may, in the ordinary course of its commercial banking business and in accordance with applicable law, at any time and from time to time assign to one or more banks, financial institutions
or other entities (“CAF Advance Assignees”) any CAF Advance owing to 

  
 68 

 
such Lender, pursuant to a CAF Advance Assignment, substantially in the form of Exhibit D-4 attached hereto, executed by the assignor Lender and the CAF Advance Assignee. Upon such execution,
from and after the date of such CAF Advance Assignment, the CAF Advance Assignee shall, to the extent of the assignment provided for in such CAF Advance Assignment, be deemed to have the same rights and benefits of payment and enforcement with
respect to such CAF Advance and the same rights of set-off and obligation to share pursuant to Section 9.7 as it would have had if it were a Lender hereunder; provided that unless such CAF Advance Assignment shall otherwise specify and a
copy of such CAF Advance Assignment shall have been delivered to the Managing Administrative Agent for its acceptance and recording in the Register in accordance with subsection 9.6(e), the assignor thereunder shall act as collection agent for the
CAF Advance Assignee thereunder, and the Managing Administrative Agent shall pay all amounts received from the Borrower which are allocable to the assigned CAF Advance directly to such assignor without any further liability to such CAF Advance
Assignee. A CAF Advance Assignee under a CAF Advance Assignment shall not, by virtue of such CAF Advance Assignment, become a party to this Agreement or have any rights to consent to or refrain from consenting to any amendment, waiver or other
modification of any provision of this Agreement or any related document; provided that (x) the assignor under such CAF Advance Assignment and such CAF Advance Assignee may, in their discretion, agree between themselves upon the manner in
which such assignor will exercise its rights under this Agreement and any related document except no Lender shall sell any CAF Advance pursuant to which the CAF Advance Assignee shall have rights to approve any amendment or waiver to this Agreement
except to the extent such amendment or waiver would (i) reduce the principal amount of any CAF Advance which has been assigned to such CAF Advance Assignee, (ii) reduce the rate of interest on any such CAF Advance or any fees payable in
connection with such CAF Advance or (iii) extend the time of payment of principal or, or interest on, any such CAF Advance or any other amount owing under this Agreement and in connection with such CAF Advance, and (y) if a copy of such
CAF Advance Assignment shall have been delivered to the Managing Administrative Agent for its acceptance and recording in the Register in accordance with subsection 9.6(e), neither the principal amount of, the interest rate on, nor the maturity date
of, any CAF Advance assigned to such CAF Advance Assignee thereunder will be modified without the written consent of such CAF Advance Assignee. If a CAF Advance Assignee has caused a CAF Advance Assignment to be recorded in the Register in
accordance with subsection 9.6(e), such CAF Advance Assignee may thereafter, in the ordinary course of its business and in accordance with applicable law, assign the CAF Advance assigned to it to any Lender, to any affiliate or subsidiary of such
CAF Advance Assignee or to any other financial institution with the consent of the Borrower (which shall not be unreasonably withheld), and the foregoing provisions of this paragraph (c) shall apply, mutatis mutandis, to any
such assignment by a CAF Advance Assignee. Except in accordance with the preceding sentence, CAF Advances may not be further assigned by a CAF Advance Assignee, subject to any legal or regulatory requirement that the CAF Advance Assignee’s
assets must remain under its control. 
 (e) The Managing Administrative Agent, acting solely for this purpose as non-fiduciary
agent of the Borrower, shall maintain at the address of the Managing Administrative Agent referred to in Section 9.2 a copy of each Assignment and Acceptance delivered to it and a register (the “Register”) for the recordation
of the names and addresses of the Lenders and the Commitment of, and principal amount (and stated interest) of the Loans owing to, each Lender from time to time. The entries in the Register shall be conclusive, in the absence of manifest

  
 69 

 
error, and the Borrower, the Managing Administrative Agent and the Lenders shall treat each Person whose name is recorded in the Register as the owner of a Loan or other obligation hereunder as
the owner thereof for all purposes of this Agreement and the other Loan Documents, notwithstanding any notice or any other provisions hereof to the contrary. Any assignment of any Loan or other obligation hereunder shall be effective only upon
appropriate entries with respect thereto being made in the Register. The Register shall be available for inspection by the Borrower or any Lender at any reasonable time and from time to time upon reasonable prior notice. 

(f) Upon its receipt of an Assignment and Acceptance executed by an assigning Lender and an Assignee (and, in the case of an Assignee
that is not then a Lender or an Affiliate thereof, by the Borrower and the Managing Administrative Agent) together with payment to the Managing Administrative Agent of a registration and processing fee of $3,500 and (if the Assignee is not a Lender)
delivery to the Managing Administrative Agent of such Assignee’s Administrative Questionnaire, the Managing Administrative Agent shall (i) promptly accept such Assignment and Acceptance and (ii) on the effective date determined
pursuant thereto record the information contained therein in the Register and give notice of such acceptance and recordation to the Lenders and the Borrower. 
 (g) The Borrower authorizes each Lender to disclose to any Participant or Assignee (each, a “Transferee”) and any prospective Transferee any and all financial information in such
Lender’s possession concerning the Borrower and its Subsidiaries and Affiliates which has been delivered to such Lender by or on behalf of the Borrower or any of its Subsidiaries pursuant to this Agreement or which has been delivered to such
Lender by or on behalf of the Borrower or any of its Subsidiaries in connection with such Lender’s credit evaluation of the Borrower and its Subsidiaries and Affiliates prior to becoming a party to this Agreement. 

(h) For avoidance of doubt, the parties to this Agreement acknowledge that the provisions of this Section concerning assignments of Loans
and Notes relate only to absolute assignments and that such provisions do not prohibit assignments creating security interests, including, without limitation, any pledge or assignment by a Lender of any Loan or Note to any Federal Reserve Bank or
any other central bank in accordance with applicable law. 
 9.7 Adjustments; Set-off. (a) If any Lender (a
“benefitted Lender”) shall at any time receive any payment of all or part of its Loans, or interest thereon, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or
proceedings of the nature referred to in Section 7(f), or otherwise), in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of such other Lender’s Loans, or interest thereon, such
benefitted Lender shall purchase for cash from the other Lenders a participating interest in such portion of each such other Lender’s Loan, or shall provide such other Lenders with the benefits of any such collateral, or the proceeds thereof,
as shall be necessary to cause such benefitted Lender to share the excess payment or benefits of such collateral or proceeds ratably with each of the Lenders; provided, however, that if all or any portion of such excess payment or
benefits is thereafter recovered from such benefitted Lender, such purchase shall be rescinded, and the purchase price and benefits returned, to the extent of such recovery, but without interest. 

  
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 (b) In addition to any rights and remedies of the Lenders provided by law, each Lender shall
have the right, without prior notice to the Borrower, any such notice being expressly waived by each of them to the extent permitted by applicable law, upon any amount becoming due and payable by the Borrower hereunder (whether at stated maturity,
by acceleration or otherwise) to set off and appropriate and apply against such amount any and all deposits (general or special, time or demand, provisional or final), in any currency, and any other credits, indebtedness or claims, in any currency,
in each case whether direct or indirect, absolute or contingent, matured or unmatured, at any time held or owing by such Lender or any branch or agency thereof to or for the credit or the account of the Borrower; provided that no such set-off
and application may be made against amounts attributable to the clearing and settlement services provided by the Borrower and its Subsidiaries. Each Lender agrees promptly to notify the Borrower and the Managing Administrative Agent after any such
set-off and application made by such Lender, provided that the failure to give such notice shall not affect the validity of such set-off and application. 
 9.8 Counterparts. This Agreement may be executed by one or more of the parties to this Agreement on any number of separate counterparts (including by facsimile transmission), and all of said
counterparts taken together shall be deemed to constitute one and the same instrument. A set of the copies of this Agreement signed by all the parties shall be lodged with the Borrower and the Managing Administrative Agent. 

9.9 Severability. Any provision of this Agreement which is prohibited or unenforceable in any jurisdiction shall, as to such
jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable
such provision in any other jurisdiction. 
 9.10 Integration. This Agreement and the other Loan Documents represent the
entire agreement of the Borrower, the Managing Administrative Agent and the Lenders with respect to the subject matter hereof, and there are no promises, undertakings, representations or warranties by the Managing Administrative Agent or any Lender
relative to subject matter hereof not expressly set forth or referred to herein or in the other Loan Documents. 
 9.11
Termination of Commitments and Swing Line Commitments. The Commitments and Swing Line Commitments shall terminate if the conditions to closing set forth in Section 4.1 shall not be satisfied on or before November 30, 2012.

 9.12 GOVERNING LAW. THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY,
AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 

  
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 9.13 Submission To Jurisdiction; Waivers. The Borrower hereby irrevocably and
unconditionally: 
 (a) submits for itself and its property in any legal action or proceeding relating to this Agreement and the
other Loan Documents, or for recognition and enforcement of any judgment in respect thereof, to the exclusive general jurisdiction of the courts of the State and County of New York, the courts of the United States for the Southern District of New
York, and appellate courts from any thereof; 
 (b) consents that any such action or proceeding may be brought in such
courts and waives any objection that it may now or hereafter have to the venue of any such action or proceeding in any such court or that such action or proceeding was brought in an inconvenient court and agrees not to plead or claim the same;

 (c) agrees that service of process in any such action or proceeding may be effected by mailing a copy thereof by
registered or certified mail (or any substantially similar form of mail), postage prepaid, to it at its address set forth in Section 9.2 or at such other address of which the Managing Administrative Agent shall have been notified pursuant
thereto; 
 (d) agrees that nothing herein shall affect the right to effect service of process in any other manner
permitted by law or shall limit the right to sue in any other jurisdiction; and 
 (e) waives, to the maximum extent not
prohibited by law, any right it may have to claim or recover in any legal action or proceeding referred to in this Section any special, indirect, punitive or consequential damages. 

9.14 Acknowledgements. The Borrower hereby acknowledges that: 

(a) it has been advised by counsel in the negotiation, execution and delivery of this Agreement and the other Loan Documents; 

(b) neither the Managing Administrative Agent nor any Lender has any fiduciary relationship with or duty to it arising out of or in
connection with this Agreement or any of the other Loan Documents, and the relationship between Managing Administrative Agent and Lenders, on one hand, and the Borrower, on the other hand, in connection herewith or therewith is solely that of debtor
and creditor; and 
 (c) no joint venture is created hereby or by the other Loan Documents or otherwise exists by virtue of the
transactions contemplated hereby among the Lenders or among the Borrower and the Lenders. 
 9.15 WAIVERS OF JURY
TRIAL. EACH OBLIGOR, THE MANAGING ADMINISTRATIVE AGENT AND THE LENDERS HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVE TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT AND FOR ANY COUNTERCLAIM
THEREIN. 

  
 72 

 9.16 Confidentiality. Neither the Managing Administrative Agent nor any Lender shall
disclose any Confidential Information to any Person without the consent of the Borrower, other than (a) to the Managing Administrative Agent’s or such Lender’s Affiliates and the Managing Administrative Agent’s, such
Lender’s and their respective Affiliates’ officers, directors, employees, agents, and advisors on a confidential basis, (b) to actual or prospective assignees and participants, (c) to any direct or indirect contractual
counterparties (or the professional advisors thereto) to any swap transaction relating to the Borrower and its obligations under this Agreement so long as such counterparties agree to comply with the requirements of this Section for the benefit of
the Borrower (with notice of such compliance given to the Borrower), (d) to the extent required by any applicable law, rule or regulation or judicial process, (e) to any rating agency when required by it, (f) to any other party
hereto, (g) in connection with the exercise of any remedies hereunder, (h) as requested or required by any state, federal or foreign authority or examiner regulating banks or other financial institutions or banking, (i) with the prior
written consent of the Borrower and (j) to the extent such Confidential Information (1) becomes publicly available other than as a result of a breach of this Section or (2) becomes available to any Lender or Managing Administrative
Agent or any of their respective Affiliates on a nonconfidential basis from a source other than the Borrower, which source is not known to such Lender, Managing Administrative Agent or any of their respective Affiliates to be otherwise bound by a
confidentiality agreement with the Borrower or its Affiliates. 
 9.17 USA PATRIOT Act. Each Lender and the Managing
Administrative Agent (for itself and not on behalf of any Lender) hereby notifies the Borrower that pursuant to the requirements of the USA PATRIOT Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)) (the
“Act”), it is required to obtain, verify and record information that identifies the Borrower, which information includes the name and address of the Borrower and other information that will allow such Lender or the Managing
Administrative Agent, as applicable, to identify such Borrower in accordance with the Act. The Borrower shall, promptly following a request by the Managing Administrative Agent or any Lender, provide all documentation and other information that the
Managing Administrative Agent or such Lender requests in order to comply with its ongoing obligations under applicable “know your customer” and anti-money laundering rules and regulations, including the Act. 

9.18 Termination of Agreement. Upon termination of the Commitments, the repayment in full of the principal of all Loans
outstanding hereunder and the payment in full of all accrued interest and fees and any other amounts then due and payable hereunder, this Agreement shall terminate except for the provisions which expressly survive the termination of this Agreement.

 [Signature Pages to Follow] 

  
 73 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed and
delivered by their proper and duly authorized officers as of the day and year first above written. 
  

			
	MASTERCARD INCORPORATED
		
	By:	 	 /s/ Sachin J. Mehra

		 	Name: Sachin J. Mehra
		 	Title:   Corporate Treasurer

 Signature Page to the Credit Agreement 

 
			
	 CITIBANK, N.A.
as Managing Administrative Agent and as Lender

		
	By:	 	 /s/ Lisa Huang

		 	Name: Lisa Huang
		 	Title:   Vice President

 Signature Page to the Credit Agreement 

 
			
	 JPMORGAN CHASE BANK, N.A.,
as Administrative Agent and as Lender

		
	By:	 	 /s/ Richard J. Poworoznek

		 	Name: Richard J. Poworoznek
		 	Title:   Executive Director

 Signature Page to the Credit Agreement 

 
			
	 BANK OF CHINA, NEW YORK BRANCH,
as Lender

		
	By:	 	 /s/ Shiquiang Wu

		 	Name: Shiquiang Wu
		 	Title:   President

 Signature Page to the Credit Agreement 

 
			
	 LLOYDS TSB BANK plc,
as Lender

		
	By:	 	 /s/ Stephen Giacolone

		 	Name: Stephen Giacolone G011
		 	Title:   Assistant Vice President
		
	By:	 	 /s/ Dennis McClellan

		 	Name: Dennis McClellan M040
		 	Title:   Assistant Vice President

 Signature Page to the Credit Agreement 

 
			
	 The Royal Bank of Scotland plc,
as Lender

		
	By:	 	 /s/ F. Small

		 	Name: F. Small
		 	Title:   Director

 Signature Page to the Credit Agreement 

 
			
	 THE BANK OF TOKYO-MITSUBISHI UFJ, LTD.,
as Lender

		
	By:	 	 /s/ Louise Che

		 	Name: Louise Che
		 	Title:   Associate

 Signature Page to the Credit Agreement 

 
			
	 U.S. BANK, NATIONAL ASSOCIATION,
as Lender

		
	By:	 	 /s/ Patrick Engel

		 	Name: Patrick Engel
		 	Title:   Vice President

 Signature Page to the Credit Agreement 

 
					
	 BARCLAYS BANK PLC,
as Lender

		
	By:	 	 /s/ Michael Mozer

		 	Name: 	 	Michael Mozer
		 	Title:	 	Vice President

 Signature Page to the Credit Agreement 

 
					
	 SOVEREIGN BANK, N.A.,
as Lender

		
	By:	 	 /s/ Thomas J. Devitt

		 	Name: 	 	Thomas J. Devitt
		 	Title:	 	Senior Vice President

 Signature Page to the Credit Agreement 

  

			
	SKANDINAVISKA ENSKILDA BANKEN AB (PUBL),
as Lender
		
	By:	 	/s/ Krissy Rands
		 	Name: Krissy Rands
		 	Title:
		 	
		
	By:	 	/s/ P. Neville-Park
		 	Name: Penny Neville-Park
		 	Title:

 Signature Page to the Credit Agreement 

 
					
	 HSBC BANK USA, NA,
as Lender

		
	By:	 	 /s/ George Marchenko

		 	Name: 	 	George Marchenko
		 	Title:	 	Director

 Signature Page to the Credit Agreement 

 
					
	 COMMERZBANK AG, NEW YORK BRANCH,
as Lender

		
	By:	 	 /s/ Diane Pockaj

		 	Name: 	 	Diane Pockaj
		 	Title:	 	Managing Director
		
	By:	 	 /s/ Michael Weinert

		 	Name: 	 	Michael Weinert
		 	Title:	 	Assistant Vice President

 Signature Page to the Credit Agreement 

 
					
	 THE NORTHERN TRUST COMPANY,
as Lender

		
	By:	 	 /s/ Daniel J. Boote

		 	Name: 	 	Daniel J. Boote
		 	Title:	 	Senior Vice President

 Signature Page to the Credit Agreement 

 
					
	 MIZUHO CORPORATE BANK (USA),
as Lender

		
	By:	 	 /s/ David Lim

		 	Name: 	 	David Lim
		 	Title:	 	Senior Vice President

 Signature Page to the Credit Agreement 

 
					
	 WELLS FARGO BANK, N.A.,
as Lender

		
	By:	 	 /s/ Tony Sood

		 	Name: 	 	Tony Sood
		 	Title:	 	Director

 Signature Page to the Credit Agreement 

 
					
	 COMMONWEALTH BANK OF AUSTRALIA,
as Lender

		
	By:	 	 /s/ Pieter Bierkens

		 	Name: 	 	Pieter Bierkens
		 	Title:	 	Acting Head and EVP, Americas

 Signature Page to the Credit Agreement 

 
					
	 BANK OF MONTREAL, CHICAGO BRANCH,
as Lender

		
	By:	 	 /s/ Yacouba Kane

		 	Name: 	 	Yacouba Kane
		 	Title:	 	Vice President

 Signature Page to the Credit Agreement 

 
					
	 BANK OF AMERICA, N.A.,
as Lender

		
	By:	 	 /s/ Scott W. Reynolds

		 	Name: 	 	Scott W. Reynolds
		 	Title:	 	Vice President

 Signature Page to the Credit Agreement 

 
					
	 PNC BANK, NATIONAL ASSOCIATION,
as Lender

		
	By:	 	 /s/ Robert M. Martin

		 	Name: 	 	Robert M. Martin
		 	Title:	 	Senior Vice President

 Signature Page to the Credit Agreement 

 
					
	 MORGAN STANLEY BANK, N.A.,
as Lender

		
	By:	 	 /s/ Michael King

		 	Name: 	 	Michael King
		 	Title:	 	Authorized Signatory

 Signature Page to the Credit Agreement 

 
					
	 GOLDMAN SACHS BANK USA,
as Lender

		
	By:	 	 /s/ Mark Walton

		 	Name: 	 	Mark Walton
		 	Title:	 	Authorized Signatory

 Signature Page to the Credit Agreement 

 
					
	 DEUTSCHE BANK AG NEW YORK BRANCH,
as Lender

		
	By:	 	 /s/ John S. McGill

		 	Name: 	 	John S. McGill
		 	Title:	 	Director
		
	By:	 	 /s/ Ming K. Chu

		 	Name: 	 	Ming K. Chu
		 	Title:	 	Vice President

 Signature Page to the Credit Agreement 

 
					
	 THE GOVERNOR AND COMPANY OF BANK OF IRELAND, as Lender

		
	By:	 	 /s/ Kieran Rockett

		 	Name: 	 	Kieran Rockett
		 	Title:	 	Senior Manager
		
	By:	 	 /s/ Philip Healy

		 	Name: 	 	Philip Healy
		 	Title:	 	Manager

 Signature Page to the Credit Agreement 

 
					
	 STANDARD CHARTERED BANK,
as Lender

		
	By:	 	 /s/ Johanna Minaya

		 	Name: 	 	Johanna Minaya
		 	Title:	 	Associate Director
		
	By:	 	 /s/ Robert K. Reddington

		 	Name: 	 	Robert K. Reddington
		 	Title:	 	 Credit Documentation Manager

Credit Documentation Unit, WS Legal-Americas

 Signature Page to the Credit Agreement 

 SCHEDULE 3.6 
 Material Litigation 
 None. 

 SCHEDULE 3.15 
 MasterCard Incorporated and Subsidiaries 
  

							
	 NAME
	  	 Incorporated in
	  	Percent Owned**	 
			
	 MasterCard Incorporated
	  	USA	  	 	N/A	  
			
	 A.C.K. Limited
	  	United Kingdom	  	 	100	% 
	 Access Prepaid Australia Pty Ltd.
	  	Australia	  	 	100	% 
	 Access Prepaid Brasil Servicos de Cartoes S.A.
	  	Brazil	  	 	100	% 
	 Access Prepaid Worldwide Ltd.
	  	United Kingdom	  	 	100	% 
	 Access Prepaid Japan KK
	  	Japan	  	 	100	% 
	 Access Prepaid Korea Limited
	  	South Korea	  	 	100	% 
	 Access Prepaid New Zealand Limited
	  	New Zealand	  	 	100	% 
	 Access Prepaid USA, Inc.
	  	Delaware	  	 	100	% 
	 Access Prepaid Canada Limited
	  	Canada	  	 	100	% 
	 Access Prepaid Singapore Pte. Ltd.
	  	Singapore	  	 	100	% 
	 Bright Skies LLC
	  	Delaware	  	 	100	% 
	 Clear Skies LLC
	  	Delaware	  	 	100	% 
	 CSC24 Seven Ltd.
	  	Cyprus	  	 	50	% 
	 Datacash Group Limited
	  	United Kingdom	  	 	100	% 
	 Datacash Services Ltd.
	  	United Kingdom	  	 	100	% 
	 Datacash (Pty) Limited
	  	South Africa	  	 	100	% 
	 Datacash Ltd.
	  	United Kingdom	  	 	100	% 
	 Datacash Fraud Services Limited
	  	United Kingdom	  	 	100	% 
	 Early Warning (UK) Limited
	  	United Kingdom	  	 	100	% 

							
	 Eurocard U.S.A., Inc.
	  	New Jersey	  	 	100	% 
	 EuroCommerce Call Centre Solutions Limited
	  	Ireland	  	 	100	% 
	 EuroCommerce Internet Solutions Limited
	  	Ireland	  	 	100	% 
	 EuroCommerce Singapore Pte. Ltd.
	  	Singapore	  	 	100	% 
	 European Payment Systems Services Sprl
	  	Belgium	  	 	100	% 
	 ExperCash GmbH
	  	Germany	  	 	100	% 
	 In3M Limited
	  	United Kingdom	  	 	100	% 
	 Maestro Asia/Pacific Ltd.
	  	Delaware	  	 	100	% 
	 Maestro Canada, Inc.
	  	Delaware	  	 	100	% 
	 Maestro International Incorporated
	  	Delaware	  	 	100	% 
	 Maestro Latin America, Inc.
	  	Delaware	  	 	100	% 
	 Maestro Middle East/Africa, Inc.
	  	Delaware	  	 	100	% 
	 Maestro U.S.A., Inc.
	  	Delaware	  	 	100	% 
	 MasterCard Advisors, LLC
	  	Delaware	  	 	100	% 
	 MasterCard Advisors, LLC APMEA
	  	Delaware	  	 	100	% 
	 MasterCard Advisors, LLC Canada
	  	Delaware	  	 	100	% 
	 MasterCard Advisors, LLC Europe
	  	Delaware	  	 	100	% 
	 MasterCard Advisors, LLC LAC
	  	Delaware	  	 	100	% 
	 MasterCard Africa, Inc.
	  	Delaware	  	 	100	% 
	 MasterCard Asia/Pacific (Australia) Pty. Ltd.
	  	Australia	  	 	100	% 
	 MasterCard Asia/Pacific (Hong Kong) Limited
	  	Hong Kong	  	 	100	% 
	 MasterCard Asia/Pacific Pte. Ltd.
	  	Singapore	  	 	100	% 
	 MasterCard Australia Holding Pty Ltd.
	  	Australia	  	 	100	% 
	 MasterCard Brasil S/C Ltda.
	  	Brazil	  	 	100	% 
	 MasterCard Brasil Soluções de Pagamento Ltda.
	  	Brazil	  	 	100	% 

  
 2 

							
	 MasterCard Canada, Inc.
	  	Delaware	  	 	100	% 
	 MasterCard Cardholder Solutions, Inc.
	  	Delaware	  	 	100	% 
	 MasterCard China Holdings LLC
	  	Delaware	  	 	100	% 
	 MasterCard Chip Standards Holdings, Inc.
	  	Delaware	  	 	100	% 
	 MasterCard Colombia, Inc.
	  	Delaware	  	 	100	% 
	 MasterCard Cono Sur S.R.L.
	  	Argentina	  	 	100	% 
	 MasterCard Costa Rica S.R.L.
	  	Costa Rica	  	 	100	% 
	 MasterCard East Africa Limited
	  	Kenya	  	 	100	% 
	 MasterCard Ecuador, Inc.
	  	Delaware	  	 	100	% 
	 MasterCard Egypt Limited Liability Company
	  	Egypt	  	 	100	% 
	 MasterCard EMEA, Inc.
	  	Delaware	  	 	100	% 
	 MasterCard/Europay U.K. Limited
	  	United Kingdom	  	 	100	% 
	 MasterCard Europe Sprl
	  	Belgium	  	 	100	% 
	 MasterCard European Holding Inc.
	  	Delaware	  	 	100	% 
	 MasterCard European Maatschap
	  	Belgium	  	 	100	% 
	 MasterCard European Share Holding B.V.
	  	Belgium	  	 	100	% 
	 MasterCard Financing Solutions LLC
	  	Delaware	  	 	100	% 
	 MasterCard Foreign Sales Corporation
	  	Barbados	  	 	100	% 
	 MasterCard France SAS
	  	France	  	 	100	% 
	 MasterCard Global Holding LLC
	  	Delaware	  	 	100	% 
	 MasterCard Global Key Centre Limited
	  	United Kingdom	  	 	100	% 
			
	 MasterCard Global Promotions & Sponsorships Annex, Inc.
	  	Delaware	  	 	100	% 
	 MasterCard GTS Holdings (Mauritius) Private Limited
	  	Mauritius	  	 	100	% 

  
 3 

							
	 MasterCard International Far East Ltd.
	  	Delaware	  	 	100	% 
	 MasterCard International Global Maatschap
	  	Belgium	  	 	100	% 
	 MasterCard International Holding LLC
	  	Delaware	  	 	100	% 
	 MasterCard International Incorporated
	  	Delaware	  	 	100	% 
	 MasterCard International Incorporated Chile Limitada
	  	Chile	  	 	100	% 
	 MasterCard International Korea Ltd.
	  	Korea, Republic of	  	 	100	% 
	 MasterCard International Philippines, Inc.
	  	Delaware	  	 	100	% 
	 MasterCard International Services, Inc.
	  	Delaware	  	 	100	% 
	 MasterCard Investment Holdings, Inc.
	  	Delaware	  	 	100	% 
	 MasterCard Ireland Limited
	  	Ireland	  	 	100	% 
	 MasterCard Japan K.K.
	  	Japan	  	 	100	% 
	 MasterCard Jupiter Investments Sprl
	  	Belgium	  	 	100	% 
	 MasterCard Latin America Holdings, Inc.
	  	Delaware	  	 	100	% 
	 MasterCard Mercosur, Inc.
	  	Delaware	  	 	100	% 
	 MasterCard Mexico, S. de R.L. de C. V.
	  	Mexico	  	 	100	% 
	 MasterCard Middle East, Inc.
	  	Delaware	  	 	100	% 
	 MasterCard Middle East Africa FZ-LLC
	  	United Arab Emirates	  	 	100	% 
	 MasterCard Netherlands B.V.
	  	Netherlands	  	 	100	% 
	 MasterCard New Zealand Limited
	  	New Zealand	  	 	100	% 
	 MasterCard OOO
	  	Russia	  	 	100	% 
	 MasterCard Originator SPC, Inc.
	  	Delaware	  	 	100	% 
	 MasterCard Panama, S.R.L.
	  	Panama	  	 	100	% 
	 MasterCard Peru, Inc.
	  	Delaware	  	 	100	% 
	 MasterCard Puerto Rico, LLC
	  	Puerto Rico	  	 	100	% 

  
 4 

							
	 MasterCard Qatar, LLC
	  	Qatar	  	 	100	% 
	 MasterCard Services Limited
	  	United Kingdom	  	 	100	% 
	 MasterCard Services SPC, Inc.
	  	Delaware	  	 	100	% 
	 MasterCard Shanghai Business Consulting Co. Ltd.
	  	China	  	 	100	% 
	 MasterCard Singapore Holding Pte. Ltd.
	  	Singapore	  	 	100	% 
	 MasterCard Southern Africa (Pty) Ltd.
	  	South Africa	  	 	100	% 
	 MasterCard Technologies, LLC
	  	Delaware	  	 	100	% 
	 MasterCard Travelers Cheque, Inc.
	  	Delaware	  	 	100	% 
	 MasterCard UK Financing LLC
	  	Delaware	  	 	100	% 
	 MasterCard UK Holdings LLC
	  	Delaware	  	 	100	% 
	 MasterCard UK Inc. Pension Trustees Limited
	  	United Kingdom	  	 	100	% 
	 MasterCard UK Partners LP
	  	United Kingdom	  	 	100	% 
	 MasterCard UK LLP
	  	United Kingdom	  	 	100	% 
	 MasterCard UK Management LLC
	  	Delaware	  	 	100	% 
	 MasterCard UK Management Services Limited
	  	United Kingdom	  	 	100	% 
	 MasterCard UK, Inc.
	  	Delaware	  	 	100	% 
	 MasterCard Uruguay Limitada
	  	Uruguay	  	 	100	% 
	 MasterCard Venezuela, Inc.
	  	Delaware	  	 	100	% 
	 MasterCard West Africa Limited
	  	Nigeria	  	 	100	% 
	 MasterManager LLC
	  	Delaware	  	 	100	% 
	 MC Indonesia, Inc.
	  	Delaware	  	 	100	% 
	 MGTS Software Private Limited
	  	India	  	 	100	% 
	 Mobile Financial Services Holdings Sprl
	  	Belgium	  	 	50	% 
	 Mobile Payment Solutions Pte. Ltd
	  	Singapore	  	 	60	% 

  
 5 

							
	 Mondex International Americas, Inc.
	  	New Jersey	  	 	100	% 
	 Mondex International Limited
	  	United Kingdom	  	 	100	% 
	 MTS Holdings, Inc.
	  	Delaware	  	 	100	% 
	 MXI Management Limited
	  	United Kingdom	  	 	100	% 
	 Orbiscom Limited
	  	Ireland	  	 	100	% 
	 Orbiscom Inc.
	  	Delaware	  	 	100	% 
	 Orbiscom UK Limited
	  	United Kingdom	  	 	100	% 
	 Orbis Patents Limited
	  	Ireland	  	 	100	% 
	 Orbiscom Ireland Limited
	  	Ireland	  	 	100	% 
	 PT MasterCard Indonesia
	  	Indonesia	  	 	100	% 
	 Purchase Street Research, LLC
	  	Delaware	  	 	100	% 
	 SET Secure Electronic Transaction LLC
	  	Delaware	  	 	50	% 
	 Strategic Payments Services Pty Limited
	  	Australia	  	 	52.5	% 
	 The Third Man Limited
	  	United Kingdom	  	 	100	% 
	 The
3rd Man Group Limited
	  	United Kingdom	  	 	100	% 
	 Trevica S.A.
	  	Poland	  	 	100	% 
	 Truaxis,Inc.
	  	Delaware	  	 	100	% 

  

	**	Percentages reflect direct ownership and indirect ownership through intermediate companies 

  
 6 

 SCHEDULE 6.2(f) 
 Liens 
  

											
	 	  	 Debtor
	  	 Secured Party
	  	 Filing

Jurisdiction
	  	 Filing
 Number
  
 Filing Date
	  	 Collateral

Description/Comments

						
	1.	  	MasterCard International Incorporated	  	Ameritech Credit Corporation	  	Delaware – SOS	  	 UCC-1
  
 #2298581 4
  

11/27/2002
	  	Leased computer equipment, etc.
						
	1.(a)	  	MasterCard International Incorporated	  	Ameritech Credit Corporation	  	Delaware – SOS	  	 Continuation
  

#2007 2013299
  
 05/30/2007
	  	Continues UCC-1 #2298581 4 dated 11/27/2002.
						
	1.(b)	  	MasterCard International Incorporated	  	Ameritech Credit Corporation	  	Delaware – SOS	  	 Amendment
  
 #2007 4624200
  

12/07/2007
	  	Amends UCC-1 #2298581 4 dated 11/27/2002. Secured Party’s name is amended to read AT&T Capital Services, Inc.
						
	1.(c)	  	MasterCard International Incorporated	  	AT&T Capital Services, Inc.	  	Delaware – SOS	  	 Amendment
  
 #2008 0296002
  

01/24/2008
	  	Amends UCC-1 #2298581 4 dated 11/27/2002. Secured Party’s name is amended to read AT&T Capital Services,
Inc.

											
	 	  	 Debtor
	  	 Secured Party
	  	 Filing

Jurisdiction
	  	 Filing
 Number
  
 Filing Date
	  	 Collateral

Description/Comments

						
	2.	  	MasterCard Technologies, LLC (formerly known as MasterCard International, LLC)	  	UMB Bank, N.A., as Trustee	  	Delaware – SOS	  	 UCC-1
  
 #4052447 2
  

02/25/2004
	  	All right, title and interest of the City of Kansas City, Missouri, as Lessor and under a Lease Agreement, dated as of April 1, 2003, between the City of Kansas City, Missouri
and MasterCard International, LLC, Lessee, and all property and rents, revenues and receipts derived by the City from the Project including, without limitation, all rentals and other amounts to be received by the City and paid by the Company under
and pursuant to and subject to the provisions of the Lease.
						
	2.(a)	  	MasterCard Technologies, LLC (formerly known as MasterCard International, LLC)	  	UMB Bank, N.A., as Trustee	  	Delaware – SOS	  	 Continuation
  

#2008 4133391
  
 12/12/2008
	  	Continues UCC-1 #4052447 2 dated 02/25/2004.
						
	2.(b)	  	MasterCard Technologies, LLC (formerly known as MasterCard International, LLC)	  	UMB Bank, N.A., as Trustee	  	Delaware – SOS	  	 Amendment
  
 #2011 1963209
  

05/24/2011
	  	Amends UCC-1 #4052447 2 dated 02/25/2004. Debtor’s name is amended to read MasterCard Technologies, LLC.

  
 2 

											
	 	  	 Debtor
	  	 Secured Party
	  	 Filing

Jurisdiction
	  	 Filing
 Number
  
 Filing Date
	  	 Collateral

Description/Comments

						
	3.	  	MasterCard Technologies, LLC (formerly known as MasterCard International, LLC)	  	IBM Credit LLC	  	Delaware – SOS	  	 UCC-1
  
 #2007 2073236
  

06/04/2007
	  	Precautionary filing in connection with IBM equipment.
						
	4.	  	MasterCard Technologies, LLC (formerly known as MasterCard International, LLC)	  	IBM Credit LLC	  	Delaware – SOS	  	 UCC-1
  
 #2007 3700076
  

10/01/2007
	  	Precautionary filing in connection with IBM equipment.
						
	5.	  	MasterCard Technologies, LLC (formerly known as MasterCard International, LLC)	  	IBM Credit LLC	  	Delaware – SOS	  	 UCC-1
  
 #2008 0676120
  

02/25/2008
	  	Precautionary filing in connection with IBM equipment.
						
	6.	  	MasterCard Technologies, LLC (formerly known as MasterCard International, LLC)	  	IBM Credit LLC	  	Delaware – SOS	  	 UCC-1
  
 #2008 1877388
  

06/02/2008
	  	Precautionary filing in connection with IBM equipment.
						
	7.	  	MasterCard Technologies, LLC (formerly known as MasterCard International, LLC)	  	IBM Credit LLC	  	Delaware – SOS	  	 UCC-1
  
 #2008 3246517
  

09/24/2008
	  	Precautionary filing in connection with IBM equipment.
						
	8.	  	MasterCard Technologies, LLC (formerly known as MasterCard International, LLC)	  	IBM Credit LLC	  	Delaware – SOS	  	 UCC-1
  
 #2009 1039400
  

04/01/2009
	  	Precautionary filing in connection with IBM equipment.

  
 3 

											
	 	  	 Debtor
	  	 Secured Party
	  	 Filing

Jurisdiction
	  	 Filing
 Number
  
 Filing Date
	  	 Collateral

Description/Comments

						
	9.	  	MasterCard Technologies, LLC (formerly known as MasterCard International, LLC)	  	IBM Credit LLC	  	Delaware – SOS	  	 UCC-1
  
 #2009 3195168
  

10/05/2009
	  	Precautionary filing in connection with IBM equipment.
						
	10.	  	MasterCard Technologies, LLC (formerly known as MasterCard International, LLC)	  	IBM Credit LLC	  	Delaware – SOS	  	 UCC-1
  
 #2010 0394886
  

02/03/2010
	  	Precautionary filing in connection with IBM equipment.
						
	11.	  	MasterCard Technologies, LLC (formerly known as MasterCard International, LLC)	  	IBM Credit LLC	  	Delaware – SOS	  	 UCC-1
  
 #2010 2415044
  

07/06/2010
	  	Precautionary filing in connection with IBM equipment.
						
	12.	  	MasterCard Technologies, LLC (formerly known as MasterCard International, LLC)	  	IBM Credit LLC	  	Delaware – SOS	  	 UCC-1
  
 #2011 0504608
  

02/10/2011
	  	Precautionary filing in connection with IBM equipment.
						
	13.	  	MasterCard Technologies, LLC (formerly known as MasterCard International, LLC)	  	IBM Credit LLC	  	Delaware – SOS	  	 UCC-1
  
 #2011 2338773
  

06/17/2011
	  	Precautionary filing in connection with IBM equipment.
						
	14.	  	MasterCard Technologies, LLC (formerly known as MasterCard International, LLC)	  	IBM Credit LLC	  	Delaware – SOS	  	 UCC-1
  
 #2011 3548149
  

09/15/2011
	  	Precautionary filing in connection with IBM equipment.

  
 4 

											
	 	  	 Debtor
	  	 Secured Party
	  	 Filing

Jurisdiction
	  	 Filing
 Number
  
 Filing Date
	  	 Collateral

Description/Comments

						
	15.	  	MasterCard Technologies, LLC (formerly known as MasterCard International, LLC)	  	IBM Credit LLC	  	Delaware – SOS	  	 UCC-1
  

#2012 1237439
  
 03/30/2012
	  	Precautionary filing in connection with IBM equipment.
						
	16.	  	MasterCard Technologies, LLC (formerly known as MasterCard International, LLC)	  	IBM Credit LLC	  	Delaware – SOS	  	 UCC-1
  

#2012 1238866
  
 03/30/2012
	  	Precautionary filing in connection with IBM equipment.
						
	17.	  	MasterCard Technologies, LLC (formerly known as MasterCard International, LLC)	  	IBM Credit LLC	  	Delaware – SOS	  	 UCC-1
  

#2012 2197947
  
 06/07/2012
	  	Precautionary filing in connection with IBM equipment.
						
	18.	  	MasterCard Technologies, LLC (formerly known as MasterCard International, LLC)	  	IBM Credit LLC	  	Delaware – SOS	  	 UCC-1
  

#2012 2448977
  
 06/25/2012
	  	Precautionary filing in connection with IBM equipment.
						
	19.	  	MasterCard Technologies, LLC (formerly known as MasterCard International, LLC)	  	IBM Credit LLC	  	Delaware – SOS	  	 UCC-1
  

#2012 3855287
  
 10/05/2012
	  	Precautionary filing in connection with IBM equipment.
						
	20.	  	MasterCard International Incorporated	  	New York State Department of State	  	New York – SOS	  	 State Tax Lien
  

#E-003695448-W001-7
  
 09/25/2012
	  	State Tax Lien in amount of $483.84.

  
 5 

											
	 	  	 Debtor
	  	 Secured Party
	  	 Filing

Jurisdiction
	  	 Filing
 Number
  
 Filing Date
	  	 Collateral

Description/Comments

						
	21.	  	MasterCard International Incorporated	  	United States District Court, Southern District of New York	  	New York, U.S. District Court, Southern District	  	 1:01-md-01409-WHP
  

11/04/2009
	  	Judgment in re Currency Conversion Fee Antitrust Litigation.
						
	22.	  	Mondex International, Inc.	  	New York State Department of State	  	New York – SOS	  	 State Tax Lien
  

#E-019062032-W001-6
  
 12/17/2001
	  	State Tax Lien in amount of $1,048.13.
						
	23.	  	Mondex International, Inc.	  	New York State Department of State	  	New York – SOS	  	 State Tax Lien
  

#E-019062032-W002-1
  
 06/29/2009
	  	State Tax Lien in amount of $3,045.47.

  
 6 

 EXHIBIT A 
 [FORM OF REVOLVING CREDIT NOTE] 
 THIS NOTE MAY NOT BE TRANSFERRED EXCEPT IN COMPLIANCE
WITH THE TERMS AND PROVISIONS OF THE CREDIT AGREEMENT REFERRED TO BELOW. TRANSFERS OF THIS NOTE (OTHER THAN PLEDGES OR ASSIGNMENTS HEREOF TO ANY FEDERAL RESERVE BANK) MUST BE RECORDED IN THE REGISTER MAINTAINED BY THE MANAGING ADMINISTRATIVE AGENT
PURSUANT TO THE TERMS OF SUCH CREDIT AGREEMENT. 
 REVOLVING CREDIT NOTE 

 

			
	$        	  	New York, New York
		  	            , 20    

 FOR VALUE RECEIVED, the undersigned, MASTERCARD INCORPORATED, a Delaware corporation (the
“Borrower”), hereby unconditionally promises to pay                      (the “Lender”) at the office of Citibank,
N.A., located at 1615 Brett Road, Building No. 3, New Castle, Delaware, 19720, in lawful money of the United States and in immediately available funds, on the Revolving Credit Termination Date the principal amount of
                     DOLLARS ($        ), or, if less, the aggregate unpaid principal amount of all Revolving
Credit Loans made by the Lender to the Borrower pursuant to Section 2.1 of the Credit Agreement (as defined below). The Borrower further agrees to pay interest in like money at such office on the unpaid principal amount of Revolving Credit
Loans made by the Lender from time to time outstanding at the rates and on the dates specified in the Credit Agreement. 
 The
holder of this Note is authorized to record on Schedule A annexed hereto and made a part hereof or on a continuation thereof which shall be attached hereto and made a part hereof the date, Type and amount of each Revolving Credit Loan made by the
Lender and the date and amount of each payment or prepayment of principal thereof, each conversion of all or a portion thereof to another Type, each continuation of all or a portion thereof as the same Type and, in the case of LIBOR Loans, the
length of each Interest Period and the London Interbank Offered Rate with respect thereto. Each such recordation shall, to the extent permitted by applicable law, constitute prima facie evidence of the accuracy of the information so
recorded, provided that the failure to make any such recordation shall not affect the obligation of the Borrower to repay (with applicable interest) Revolving Credit Loans made by the Lender pursuant to the Credit Agreement. 

This Note (a) is one of the Revolving Credit Notes referred to in the Credit Agreement, dated as of November 16, 2012 (as
amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), among the Borrower, the Lender, the other banks and financial institutions from time to time parties thereto, Citibank, N. A., as Managing
Administrative Agent and JPMorgan Chase Bank, N.A., as Administrative Agent, (b) is subject to the provisions of the Credit Agreement and (c) is subject to optional and mandatory prepayment in whole or in part as provided in the Credit
Agreement. 

 Upon the occurrence of any one or more of the Events of Default, all amounts then remaining
unpaid on this Note shall become, or may be declared to be, immediately due and payable, all as provided in the Credit Agreement. 
 All parties now and hereafter liable with respect to this Note, whether maker, principal, surety, guarantor, endorser or otherwise, hereby waive presentment, demand, protest and all other notices of any
kind. 
 Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to
them in the Credit Agreement. 
 THIS NOTE SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF
THE STATE OF NEW YORK. 
  

			
	MASTERCARD INCORPORATED
		
	By:	 	  

		 	Name:
		 	Title:

  
 2 

 Schedule A 

to Revolving Credit Note 
 LOANS, CONTINUATIONS, CONVERSIONS AND REPAYMENTS OF LIBOR LOANS 
  

															
	 Date
	  	Amount of
LIBOR Loans	  	Amount
Converted
to or
Continued
as LIBOR
Loans	  	Interest Period
and London
Interbank
Offered Rate
with Respect
Thereto	  	Amount of
Principal of
LIBOR Loans
Repaid	  	Amount of
LIBOR Loans
Converted to
ABR Loans	  	Unpaid Principal
Balance of
LIBOR Loans	  	Notation
Made By
		  		  		  		  		  		  		  	
		  		  		  		  		  		  		  	
		  		  		  		  		  		  		  	

 EXHIBIT B 
 [FORM OF SWING LINE NOTE] 
 THIS NOTE MAY NOT BE TRANSFERRED EXCEPT IN COMPLIANCE WITH
THE TERMS AND PROVISIONS OF THE CREDIT AGREEMENT REFERRED TO BELOW. TRANSFERS OF THIS NOTE (OTHER THAN PLEDGES OR ASSIGNMENTS HEREOF TO ANY FEDERAL RESERVE BANK) MUST BE RECORDED IN THE REGISTER MAINTAINED BY THE MANAGING ADMINISTRATIVE AGENT
PURSUANT TO THE TERMS OF SUCH CREDIT AGREEMENT. 
 SWING LINE NOTE 

 

			
	$        	  	New York, New York
		  	            , 20    

 FOR VALUE RECEIVED, the undersigned, MASTERCARD INCORPORATED, a Delaware corporation (the “Borrower”),
hereby unconditionally promises to pay [CITIBANK, N.A.] / [JPMORGAN CHASE BANK, N.A.] / [BANK OF CHINA, NEW YORK BRANCH]/[LLOYDS TSB BANK plc]/[THE ROYAL BANK OF SCOTLAND plc]/[THE BANK OF TOKYO-MITSUBISHI UFJ, LTD.]/[U.S. BANK, NATIONAL
ASSOCIATION] (the “Swing Line Lender”), at its office located at [                    ], in lawful money of the United States and in
immediately available funds, on the Revolving Credit Termination Date, the principal amount of                      DOLLARS
($        ) or, if less, the aggregate unpaid principal amount of the Swing Line Loans made by the Swing Line Lender to the Borrower pursuant to Section 2.18 of the Credit Agreement (as defined below).
The Borrower further agrees to pay interest in like money at said office on the unpaid principal amount of Swing Line Loans from time to time outstanding at the rates and on the dates specified in the Credit Agreement. 

The Swing Line Lender is authorized to record the date and the amount of each Swing Line Loan made by the Swing Line Lender to the
Borrower pursuant to Section 2.18 of the Credit Agreement and the date and amount of each payment or prepayment of principal thereof on Schedule A annexed hereto and made a part hereof and any such recordation shall, to the extent permitted by
applicable law, constitute prima facie evidence of the accuracy of the information so recorded, provided that any failure by the Swing Line Lender to make such recordation shall not affect the obligation of the Borrower to repay
(with applicable interest) the Swing Line Loans made by the Swing Line Lender pursuant to the Credit Agreement. 
 This Note
(a) is the Swing Line Note referred to in the Credit Agreement, dated as of November 16, 2012 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), among the Borrower, the [Swing Line
Lender], the other banks and financial institutions from time to time parties thereto, Citibank, N.A, as Managing Administrative Agent and. JPMorgan Chase Bank, N.A. as Administrative Agent, (b) is subject to the provisions of the Credit
Agreement and (c) is subject to optional and mandatory prepayment in whole or in part as provided in the Credit Agreement. 

 Upon the occurrence of any one or more of the Events of Default, all amounts then remaining
unpaid on this Note shall become, or may be declared to be, immediately due and payable, all as provided in the Credit Agreement. 
 All parties now and hereafter liable with respect to this Note, whether maker, principal, surety, guarantor, endorser or otherwise, hereby waive presentment, demand, protest and all other notices of any
kind. 
 Unless otherwise defined herein terms defined in the Credit Agreement and used herein shall have the meanings given to
them in the Credit Agreement. 
 THIS NOTE SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF
THE STATE OF NEW YORK. 
  

					
	MASTERCARD INCORPORATED
		
	By:	 	  

			
		 	Name:	 	  

			
		 	Title:	 	  

  
 2 

 Schedule A to 

Swing Line Note 
 LOANS AND REPAYMENTS 
  

									
	 Date
	  	Amount of
Swing Line
Loans Made	  	Amount of
Swing Line
Loans
Repaid	  	Unpaid
Principal
Balance of
Swing Line
Loans	  	Notation Made
By
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	

 EXHIBIT C 
 [FORM OF CLOSING CERTIFICATE] 
 CLOSING CERTIFICATE 

AS OF November 16, 2012 
 Pursuant to subsections 4.1 (b), 4.1(c), 4.1(d) and 4.1(e) of the Credit Agreement, dated as of November 16, 2012 (as amended, supplemented or otherwise modified from time to time, the
“Credit Agreement”), among MasterCard Incorporated, a Delaware corporation the “Borrower”), the several banks and other financial institutions from time to time parties thereto (the “Lenders”),
Citibank, N.A., as Managing Administrative Agent for the Lenders, JPMorgan Chase Bank, N.A., as Administrative Agent for the Lenders, the undersigned, the Treasurer of Borrower, hereby certifies as follows: 

1. The representations and warranties of the Borrower set forth in the Credit Agreement and each of the other Loan
Documents are true and correct in all material respects (except that such representations and warranties that are qualified as to materiality are true and correct in all respects) on and as of the date hereof as if made on and as of the date hereof,
except for representations and warranties expressly stated to relate to a specific earlier date, in which case such representations and warranties were true and correct as of such earlier date; 

2. No Default or Event of Default has occurred and is continuing as of the date hereof or will occur after giving effect
to the making of the Loans on the date hereof or the consummation of each of the transactions contemplated by the Loan Documents; and 
 3. Craig R. Brown is and at all times since November 20, 2007, has been the duly elected and qualified Assistant Secretary of the Borrower and the signature set forth on the signature line for such
officer below is such officer’s true and genuine signature; 
 and the undersigned Assistant Secretary of Borrower hereby
certifies as follows: 
 4. There are no liquidation or dissolution proceedings pending or to my knowledge
threatened against the Borrower or any of its Material Subsidiaries, nor has any other event occurred affecting or threatening the corporate existence of the Borrower or any of its Material Subsidiaries; 

5. The Borrower is a corporation duly incorporated, validly existing and in good standing under the laws of Delaware and
attached hereto as Exhibit A is a certificate issued by the Secretary of State of the State of Delaware certifying as to the good standing of the Borrower; 

6. (i) Attached hereto as Exhibit B is a true and complete copy of resolutions duly adopted by the Board of
Directors of the Borrower on September 11, 2012, approving and authorizing the execution, delivery and performance of the Credit Agreement and the other Loan Documents (all in compliance with the description and

 
indicative terms of the Replacement Credit Facility as set forth in the Credit Facility Presentation, as these terms are referred to therein); such resolutions have not in any way been amended,
modified, revoked or rescinded and have been in full force and effect since their adoption to and including the date hereof and are now in full force and effect; such resolutions are the only corporate proceedings of the Borrower now in force
relating to or affecting the matters referred to therein; 
 (ii) attached hereto as Exhibit C is a
true and complete copy of the by-laws of the Borrower as amended or restated on or prior to the date hereof and as in effect at all times since September 21, 2010, to and including the date hereof, and 

(iii) attached hereto as Exhibit D is a true and complete copy of the certificate of incorporation of the
Borrower, as amended or restated on or prior to the date hereof and as in effect at all times since September 21, 2010, to and including the date hereof; and 

7. The following persons are now duly elected and qualified officers of the Borrower, holding the offices indicated next
to their respective names below, and such officers have held such offices with the Borrower at all times since September 11, 2012, to and including the date hereof, and the signatures appearing opposite their respective names below are the true
and genuine signatures of such officers, and each of such officers is duly authorized to execute and deliver on behalf of the Borrower, the Credit Agreement and the other Loan Documents and any certificate or other document to be delivered by the
Borrower pursuant to the Credit Agreement or any such Loan Document: 
  

					
	 Name
	  	 Office
	 	 Signature

			
	Sachin J. Mehra	  	Treasurer	 	  

			
	C. Michael Ellison	  	Assistant Treasurer	 	  

 Unless otherwise defined herein, capitalized terms which are defined in the Credit Agreement and used
herein are so used as so defined. 
 [remainder of page intentionally blank] 

  
 2 

 IN WITNESS WHEREOF, the undersigned have hereunto set our names as of the date first set
forth above. 
  

					
	MASTERCARD INCORPORATED
		
	By:	 	 /s/ Sachin J. Mehra

		 	Name: Sachin J. Mehra
		 	Title: Treasurer
		
	By:	 	 /s/ Craig R. Brown

		 	Name: Craig R. Brown
		 	Title: Assistant Secretary

  
 3 

 EXHIBIT D-1 
 FORM OF 
 CAF ADVANCE REQUEST 

                    ,
20     
 Citibank, N.A., as Managing Administrative Agent 
 1615 Brett Road, Building No. 3 
 New Castle, Delaware 19720 

JPMorgan Chase Bank, N.A., as Administrative Agent 
 500 Stanton Christiana Road, Ops. 2, Floor 03 
 Newark, Delaware 19713-2107 

Ladies and Gentlemen: 

Reference is made to the Credit Agreement, dated as of November 16, 2012, among the MasterCard Incorporated, a Delaware corporation,
the Lenders named therein, Citibank, N.A., as Managing Administrative Agent and JPMorgan Chase Bank, N.A., as Administrative Agent (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”). Terms
defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit Agreement. 
 This is a
[Fixed Rate] [LIBOR] CAF Advance Request pursuant to Section 2.9 of the Credit Agreement requesting offers for the following CAF Advances: 
 [NOTE: Pursuant to the Credit Agreement, a CAF Advance Request shall be transmitted in writing, by facsimile transmission, or by telephone, immediately confirmed by facsimile transmission. In any case, a
CAF Advance Request shall contain the information set forth in the grid below.] 
  

													
	 	  	Loan 1	 	  	Loan 2	 	  	Loan 3	 
				
	 Aggregate Principal Amount
	  	$	 	  	  	$	 	  	  	$	 	  
				
	 Borrowing Date
	  				  				  			
				
	 CAF Advance Maturity Date
	  				  				  			
				
	 CAF Advance Interest Payment Dates
	  				  				  			

 
			
	Very truly yours,
	
	MASTERCARD INCORPORATED
		
	By:	 	  

		 	Name:
		 	Title:

  
 2 

 EXHIBIT D-2 
 FORM OF 
 CAF ADVANCE OFFER 

                    ,
20     
 Citibank, N.A., as Managing Administrative Agent 
 1615 Brett Road, Building No. 3 
 New Castle, Delaware 19720 

JPMorgan Chase Bank, N.A., as Administrative Agent 
 500 Stanton Christiana Road, Ops. 2, Floor 03 
 Newark, Delaware 19713-2107 

Dear Sirs: 
 Reference is made
to the Credit Agreement, dated as of November 16, 2012, among MasterCard Incorporated, a Delaware corporation (the “Borrower”), the Lenders named therein, Citibank, N.A., as Managing Administrative Agent for such Lenders and
JPMorgan Chase Bank, N.A., as Administrative Agent for such Lenders (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”). Terms defined in the Credit Agreement are used herein as therein
defined. 
 In accordance with Sections 2.8 and 2.9 of the Credit Agreement, the undersigned Lender offers to make CAF
Advances thereunder to the Borrower in the following amounts with the following maturity dates: 
  

			
	Borrowing Date:                     , 20    	  	Aggregate Maximum Amount: $            
		
	 Maturity Date 1:
                     , 20    
	  	 Maximum Amount: $            

$             offered at
                    *

$             offered at
                    *

		
	 Maturity Date 2:
                     , 20    
	  	 Maximum Amount: $            

$             offered at
                    *

$             offered at
                    *

		
	 Maturity Date 3:
                     , 20    
	  	 Maximum Amount: $            

$             offered at
                    *

$             offered at
                    *

 [NOTE: Insert the interest rate offered for the specified CAF Advance where indicated by an asterisk (*).
In the case of LIBOR CAF Advances, insert a margin bid. In the case of Fixed Rate CAF Advances, insert a fixed rate bid.] 

 
			
	Very truly yours,
	
	[NAME OF LENDER]
		
	By:	 	  

		 	Name:
		 	Title:
		 	Telephone No.:
		 	Telecopy No.:

  
 2 

 EXHIBIT D-3 
 FORM OF 
 CAF ADVANCE CONFIRMATION 

                    ,
20     
 Citibank, N.A., 
 as Managing Administrative Agent 
 1615 Brett Road, Building No. 3 

New Castle, Delaware 19720 
 JPMorgan Chase
Bank, N.A., 
 as Administrative Agent 

500 Stanton Christiana Road, Ops. 2, Floor 03 

Newark, Delaware 19713-2107 
 Ladies and
Gentlemen: 
 Reference is made to the Credit Agreement, dated as of November 16, 2012, among the undersigned, MasterCard
Incorporated, the Lenders named therein, Citibank, N.A., as Managing Administrative Agent and JPMorgan Chase Bank, N.A., as Administrative Agent (as amended, supplemented or otherwise modified from time to time, the “Credit
Agreement”). Terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit Agreement. 
 In accordance with Section 2.9 of the Credit Agreement, the undersigned accepts and confirms the offers by the CAF Advance Lender(s) to make CAF Advances to the undersigned on
                    , 20     under Section 2.9 in the (respective) amount(s) set forth on the attached list of CAF
Advances offered. 
  

			
	Very truly yours,
	
	MASTERCARD INCORPORATED
		
	By:	 	  

		 	Name:
		 	Title:

 [Borrower to attach CAF Advance offer list prepared by the Managing Administrative Agent with accepted amount
entered by the Borrower to the right of each CAF Advance Offer]. 

 EXHIBIT D-4 
 FORM OF 
 CAF ADVANCE ASSIGNMENT 

CAF Advance ASSIGNMENT, dated as of the date set forth in Item 1 of Schedule I hereto, among the Assignor Lender set forth in
Item 2 of Schedule I hereto (the “Assignor Lender”), the CAF Advance Assignee set forth in Item 3 of Schedule I hereto (the “CAF Advance Assignee”), and CITIBANK, N.A., as Managing Administrative
Agent for the Lenders under the Credit Agreement described below (in such capacity, the “Managing Administrative Agent”). 
 W I T N E S S E T H : 
 WHEREAS, this CAF Advance Assignment is being executed and delivered in accordance with subsection 9.6(c) of the Credit Agreement, dated as of November 16, 2012, among MasterCard Incorporated, a
Delaware corporation (the “Borrower”), the Assignor Lender and the other Lenders parties thereto, the Managing Administrative Agent and JPMorgan Chase Bank, N.A., as Administrative Agent for the Lenders (as from time to time
amended, supplemented or otherwise modified in accordance with the terms thereof, the “Credit Agreement”; unless otherwise defined herein, terms defined therein being used herein as therein defined); and 

WHEREAS, the Assignor Lender has advanced to the Borrower the CAF Advance described in Item 5 of Schedule I hereto (the
“CAF Advance”), and the Assignor Lender is assigning the CAF Advance to the CAF Advance Assignee pursuant to this CAF Advance Assignment; 
 NOW, THEREFORE, the parties hereto hereby agree as follows: 
 1. The Assignor
Lender acknowledges receipt from the CAF Advance Assignee of an amount equal to the purchase price, as agreed between the Assignor Lender and the CAF Advance Assignee, of the outstanding principal amount of, and accrued interest on, the CAF Advance.
The Assignor Lender hereby irrevocably sells, assigns and transfers to the CAF Advance Assignee without recourse, representation or warranty, except as set forth in subsection 4(i) hereof and the CAF Advance Assignee hereby irrevocably purchases,
takes and acquires from the Assignor Lender, the CAF Advance, together with all instruments and documents pertaining thereto. 

2. (a) From and after the date set forth in Item 4 of Schedule I hereto (the “Transfer Effective Date”),
principal and interest that would otherwise be payable to or for the account of the Assignor Lender pursuant to the CAF Advance shall, instead, be payable to or for the account of the CAF Advance Assignee, whether such amounts have accrued prior to
the Transfer Effective Date or accrue subsequent to the Transfer Effective Date. 
 (b) If Item 6 of Schedule I
hereto contains payment instructions for the CAF Advance Assignee and if the CAF Advance Assignee delivers a copy of this CAF Advance Assignment to the Managing Administrative Agent in accordance with subsection 9.6(f) of the Credit Agreement at
least 5 Business Days prior to the due date of any payment to the CAF 

 
Advance Assignee, the CAF Advance Assignee hereby instructs the Managing Administrative Agent to pay all such amounts payable to it pursuant to the provision of subparagraph (a) of this
paragraph 2, in accordance with such payment instructions. If Item 6 of Schedule I hereto does not contain payment instructions for the CAF Advance Assignee (or a copy hereof is not delivered to the Managing Administrative Agent as
aforesaid), the Assignor Lender and the CAF Advance Assignee agree that, notwithstanding the provisions of subparagraph (a) of this paragraph 2, the Assignor Lender is hereby appointed by the CAF Advance Assignee as its collection agent to
receive from the Managing Administrative Agent, for and on behalf of and for the account of the CAF Advance Assignee, all amounts payable to or for the account of the CAF Advance Assignee under the CAF Advance; the Assignor Lender will immediately
pay over to the CAF Advance Assignee any such amounts received by it, in like funds as received. 
 3. Each of the parties to
this CAF Advance Assignment agrees that at any time and from time to time upon the written request of any other party, it will execute and deliver such further documents and do such further acts and things as such other party may reasonably request
in order to effect the purposes of this CAF Advance Assignment. 
 4. By executing and delivering this CAF Advance Assignment,
the Assignor Lender and the CAF Advance Assignee confirm to and agree with each other and the Managing Administrative Agent and the Lenders as follows: (i) other than the representation and warranty that it is the legal and beneficial owner of
the interest being assigned hereby free and clear of any adverse claim and has the corporate power and authority, and the legal right to sell, assign and transfer the CAF Advance to the CAF Advance Assignee, the Assignor Lender makes no
representation or warranty and assumes no responsibility with respect to any statements, warranties or representations made in or in connection with the Credit Agreement or any other instrument or document furnished pursuant thereto or with respect
to the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Credit Agreement or such other instrument or document furnished pursuant thereto; (ii) the Assignor Lender makes no representation or warranty and
assumes no responsibility with respect to the financial condition of the Borrower or the performance or observance by the Borrower of any of its obligations under the Credit Agreement or any other instrument or document furnished pursuant thereto;
(iii) the CAF Advance Assignee confirms that it has received a copy of the Credit Agreement, together with copies of the financial statements referred to in Section 3.1, the financial statements delivered pursuant to Section 5.1, if
any, and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this CAF Advance Assignment; (iv) the CAF Advance Assignee will, independently and without reliance upon the
Managing Administrative Agent the Assignor Lender or any other Lender and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in respect of the Credit Agreement; and
(v) the CAF Advance Assignee appoints and authorizes the Managing Administrative Agent to take such action as agent on its behalf and to exercise such powers under the Credit Agreement as are delegated to the Managing Administrative Agent by
the terms thereof, together with such powers as are reasonably incidental thereto, all in accordance with Section 8 of the Credit Agreement. 
 5. Each party hereto represents and warrants to and agrees with the Managing Administrative Agent that it is aware of and will comply with the provisions of Section 9.6 of the Credit Agreement.

  
 2 

 6. THIS CAF ADVANCE ASSIGNMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH,
THE LAW OF THE STATE OF NEW YORK. 
 IN WITNESS WHEREOF, the parties hereto have caused this CAF Advance Assignment to be
executed by their respective duly authorized officers on Schedule I hereto as of the date set forth in Item 1 of Schedule I hereto. 

  
 3 

			
	Item 1 (Date of CAF Advance Assignment):	  	[Insert date of CAF Advance Assignment]
		
	Item 2 (Assignor Lender):	  	[Insert name of Assignor Lender]
		
	Item 3 (CAF Advance Assignee):	  	[Insert name, address and telephone numbers and name of contact party of CAF Advance Assignee]
		
	Item 4 (Transfer Effective Date):	  	[Insert Transfer Effective Date] [To be a date not less than five business days after date of CAF Advance Assignment]
		
	Item 5 (Description of CAF Advance):	  	
		
	 a. Date:
 b. Principal Amount:
	  	
		
	Item 6 (Payment Instructions):	  	[Complete only if payments are to be made by Managing Administrative Agent to CAF Advance Assignee rather than to Assignor Lender as collection agent for CAF Advance Assignee; leave
blank if Assignor Lender is to act as such collection agent]
		
	Item 7 (Signatures):	  	

  

					
	  
	 	,
		 	as Assignor Lender	 	
			
	By:	 	  
	 	
		 	Name:	 	
		 	Title:	 	
		
	  
	 	,
		 	as Bid Loan Assignee	 	
			
	By:	 	  
	 	
		 	Name:	 	
		 	Title:	 	

  
 4 

			
	 ACCEPTED FOR RECORDATION
 IN REGISTER:

	
	 CITIBANK, N.A.,
as Managing Administrative Agent

		
	By:	 	  

		 	Name:
		 	Title:

  
 5 

 EXHIBIT E 
 SWING LINE LOAN PARTICIPATION CERTIFICATE 

                 ,
20     
  

			
	[Name of Lender]	  	
	  
	  	
	  
	  	
	  
	  	

 Ladies and Gentlemen: 
 Pursuant to subsection 2.18(e) of the Credit Agreement, dated as of November 16, 2012 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”;
unless otherwise defined herein, terms defined in the Credit Agreement are used herein as therein defined), among MasterCard Incorporated, a Delaware corporation (the “Borrower”), the several banks and other financial institutions
from time to time parties thereto (the “Lenders”), Citibank, N.A., as Managing Administrative Agent for the Lenders thereunder (in such capacity, the “Managing Administrative Agent”), and JPMorgan Chase Bank, N.A.,
as Administrative Agent for the Lenders thereunder (in such capacity, the “Administrative Agent), the undersigned, as Swing Line Lender under the Credit Agreement, hereby acknowledges receipt from you on the date hereof of
                     DOLLARS ($        ) as payment for a participating interest in the following Swing Line
Loan: 
  

					
	 Date of Swing Line Loan:
	  			
		
	 Principal Amount of Swing Line Loan Participating Interest:
	  	$	            	  

  

			
	Very truly yours,
	
	[SWING LINE LENDER]
		
	By:	 	  

		 	Name:
		 	Title:

 EXHIBIT F-1 
 [FORM OF OPINION OF GENERAL COUNSEL TO THE BORROWER] 
 November 16, 2012

 To (a) the several banks and other financial 

institutions parties on the date hereof to the 
 Agreement referred to below and each of their 
 assignees, (b) Citibank, N.A.,
as Managing 
 Administrative Agent under said Agreement and 

(c) JPMorgan Chase Bank, N.A., as 
 Administrative Agent under said Agreement 
 Dear Sirs: 

I am General Counsel of MasterCard Incorporated, a Delaware corporation (the “Borrower”), and am familiar with the
Credit Agreement, dated as of November 16, 2012 (the “Agreement”), among the Borrower, the banks and other financial institutions parties thereto (the “Lenders”), Citibank, N.A., as Managing Administrative
Agent for the Lenders (in such capacity, the “Managing Administrative Agent”) and JPMorgan Chase Bank, N.A., as Administrative Agent for the Lenders (in such capacity, the “Administrative Agent”). This opinion is
delivered to you pursuant to subsection 4.1(g)(i) of the Agreement. Terms used herein which are defined in the Agreement shall have the respective meanings set forth in the Agreement, unless otherwise defined herein. 

In connection with this opinion, I have examined an executed copy of the Agreement, and such corporate documents and records of the
Borrower and its Subsidiaries and certificates of public officials and officers of the Borrower and its Subsidiaries, and such other documents, as I have deemed necessary or appropriate for the purposes of this opinion. For the purposes of this
opinion, I have assumed (i) the genuineness of all signatures of, and the authority of, Persons signing the Agreement on behalf of parties thereto other than the Borrower, (ii) the authenticity of all documents submitted to me as originals
and (iii) the conformity to authentic original documents of all documents submitted to me as certified, conformed or photostatic copies. 
 Based upon the foregoing, I am of the opinion that: 
 i. Each of the Borrower and
its Subsidiaries (a) is an entity duly organized, validly existing and in good standing (to the extent applicable) under the laws of the jurisdiction of its incorporation (provided that no opinion is given under this clause (a) with
respect to any Subsidiary that is not a Material Subsidiary of the Borrower if the failure of such Subsidiary to be duly organized, validly existing or in good standing could not reasonably be expected to have a Material Adverse Effect),
(b) has the power and authority, and the legal right, to own and operate its property, to lease the property it operates as lessee and to conduct the business in which it is currently engaged and (c) is duly qualified as a foreign entity
and in good standing 

 
under the laws of each jurisdiction (other than that of its organization) where its ownership, lease or operation of property or the conduct of its business requires such qualification, except in
the case of (b) or (c), to the extent that the failure to have such power, authority and legal right or to qualify as a foreign entity or to be in good standing could not, individually or in the aggregate, reasonably be expected to have a
Material Adverse Effect. 
 ii. The execution, delivery and performance by the Borrower of the Agreement are within the
corporate powers of the Borrower, have been duly authorized by all necessary corporate action, require no governmental approval, and do not contravene any law or regulation applicable to, including, without limitation, Regulation T, U or X of the
Board, or any contractual restriction binding on, the Borrower. 
 iii. The Agreement has been duly executed and delivered by
the Borrower and constitutes a legal, valid and binding obligation of the Borrower, enforceable against it in accordance with its terms except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or
similar laws affecting the enforcement of creditors’ rights generally and by general equitable principles (whether enforcement is sought by proceedings in equity or at law). No consent or authorization of, filing with, notice to or other act by
or in respect of any Governmental Authority or any other Person is required in connection with the borrowings hereunder or with the execution, delivery, performance or validity of the Agreement other than those expressly required by the terms of the
Agreement. 
 iv. To the best of my knowledge after due inquiry, except to the extent set forth in Schedule 3.6 attached to the
Agreement or as previously disclosed in any public filings made by the Borrower, there are no pending or threatened actions or proceedings affecting the Borrower or any of its Subsidiaries which, if determined adversely to the Borrower or such
Subsidiary, could individually or in the aggregate reasonably be expected to have a Material Adverse Effect. 
 v. The Borrower
is not an “investment company” or a company “controlled” by an “investment company”, within the meaning of the Investment Company Act of 1940, as amended. 

I am a member of the Bar of the State of New York and express no opinion on any laws other than the laws of the State of New York, the
Delaware Corporation Law and the federal laws of the United States. 
  

			
	Very truly yours,
		
		 	/s/ Noah J. Hanft, Esq.
		 	Noah J. Hanft, Esq.
		 	General Counsel

  
 2 

 EXHIBIT F-2 
 [FORM OF OPINION OF SPECIAL NEW YORK COUNSEL TO THE MANAGING 

ADMINISTRATIVE AGENT] 
 November 16, 2012 
 To each of the Lenders, each of its Assignees, 

the Managing Administrative Agent, and 
 the
Administrative Agent party to the 
 Credit Agreement referred to below 
 Ladies and Gentlemen: 
 We have acted as special New York counsel to Citibank,
N.A., as Managing Administrative Agent (in such capacity, the “Managing Administrative Agent”) in connection with the Credit Agreement dated as of November 16, 2012 (the “Credit Agreement”) among MasterCard
Incorporated (the “Borrower”), the several banks and other financial institutions from time to time parties thereto (the “Lenders”), JPMorgan Chase Bank, N.A., as Administrative Agent (in such capacity, the
“Administrative Agent”) and the Managing Administrative Agent. 
 This opinion is furnished to you pursuant to
Section 4.1(g)(ii) of the Credit Agreement. Unless otherwise defined herein, terms defined in the Credit Agreement are used herein as therein defined. 
 In arriving at the opinions expressed below, we have examined and relied on an executed counterpart of the Credit Agreement and we have made such investigations of law as we have deemed appropriate for
purposes of this opinion. 
 In our examination, we have assumed the genuineness of all signatures, the authenticity of all
documents submitted to us as originals and the conformity with authentic original documents of all documents submitted to us as copies. When relevant facts were not independently established, we have relied upon representations made in or pursuant
to the Credit Agreement. 
 In rendering the opinions expressed below, we have assumed, with respect to the Credit Agreement,
that: 
 (i) the Credit Agreement has been duly authorized by, has been duly executed and delivered by, and (except to the
extent set forth in the opinions below as to the Borrower) constitutes the legal, valid, binding and enforceable obligation of, all of the parties thereto; 
 (ii) all signatories to the Credit Agreement have been duly authorized; 

 (iii) all of the parties to the Credit Agreement are duly organized and validly existing
under the laws of their respective jurisdictions of incorporation and have the power and authority (corporate or other) to execute, deliver and perform the Credit Agreement. 
 Based upon and subject to the foregoing and subject also to the comments and qualifications set forth below, and having considered such questions of law as we have deemed necessary as a basis for the
opinions expressed below, we are of the opinion that the Credit Agreement constitutes the legal, valid and binding obligation of the Borrower, enforceable against the Borrower in accordance with its terms, except as may be limited by bankruptcy,
insolvency, reorganization, fraudulent conveyance or transfer, moratorium or other similar laws relating to or affecting the rights of creditors generally and except as the enforceability thereof is subject to the application of general principles
of equity (regardless of whether considered in a proceeding in equity or at law), including, without limitation, (a) the possible unavailability of specific performance, injunctive relief or any other equitable remedy and (b) concepts of
materiality, reasonableness, good faith and fair dealing. 
 The foregoing opinions are subject to the following comments and
qualifications: 
 (A) The enforceability of Section 9.5 of the Credit Agreement may be limited by laws limiting the
enforceability of provisions releasing, exculpating or exempting a party from or requiring indemnification of a party for its own action or inaction, to the extent the action or inaction involves gross negligence, recklessness, willful misconduct or
unlawful conduct. 
 (B) The enforceability of provisions in the Credit Agreement to the effect that terms may not be waived or
modified except in writing may be limited under certain circumstances. 
 (C) We express no opinion as to (i) the effect of
the laws of any jurisdiction in which any Lender is located (other than the State of New York) that limit the interest, fees or other charges such Lender may impose for the loan or use of money or other credit, (ii) Sections 9.6(b)
and 9.7(b) of the Credit Agreement to the extent they purport to grant a right of set-off, (iii) Section 9.13(a) of the Credit Agreement, insofar as it relates to the subject matter jurisdiction of any court of the United States of
America sitting in the Southern District of New York to adjudicate any controversy related to the Loan Documents, (iv) Section 9.13(b) of the Credit Agreement insofar as it relates to inconvenient forum with respect to any Federal court
and (v) Section 9.9 of the Credit Agreement. 
 The foregoing opinions are limited to matters involving the Federal
laws of the United States of America and the law of the State of New York, and we do not express any opinion as to the laws of any other jurisdiction. 

  
 2 

 This opinion letter is, pursuant to Section 4.1(g)(ii) of the Credit Agreement,
provided to you by us in our capacity as special New York counsel to the Agent and may not be relied upon by any Person for any purpose other than in connection with the transactions contemplated by the Credit Agreement without, in each instance,
our prior written consent. 
 Very truly yours, 
 RMG/MJB 

  
 3 

 EXHIBIT G 
 FORM OF 
 BORROWING NOTICE 

Citibank, N.A., 
 as Managing Administrative
Agent 
 1615 Brett Road, Building No. 3 
 New Castle, Delaware 19720 
 Attention: Agency Department 

JPMorgan Chase Bank, N.A., 
 as Administrative
Agent 
 500 Stanton Christiana Road, Ops. 2, Floor 03 
 Newark, Delaware 19713-2107 
 Dear Sirs: 

This Borrowing Notice is delivered to you by the undersigned (the “Borrower”) in connection with Section 2.2 of the
Credit Agreement, dated as of November 16, 2012 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), among the Borrower, the several banks and other financial institutions from time to
time parties thereto (the “Lenders”), Citibank, N.A., as Managing Administrative Agent for the Lenders and JPMorgan Chase Bank, N.A., as Administrative Agent for the Lenders. Unless otherwise defined herein, capitalized terms used
herein have the meanings provided in the Credit Agreement. 
 The Borrower hereby requests that Loans be
made in the aggregate principal amount of $         on                 , 20     (the “Borrowing
Date”). The Borrower requests that such Loans be made as1 [LIBOR Loans in a principal amount of $         having an initial Interest Period of [one week][     months] [ABR Loans in a principal amount
of $        ]. The Borrower requests that the Loans requested be paid into account at [bank]. 
 The Borrower hereby certifies that the representations and warranties contained in Section 3 of the Credit Agreement (excluding the representations and warranties made in Section 3.2 and 3.6)
will be true and correct in all material respects on and as of the Borrowing Date with the same effect as if made on and as of such date both before and after giving effect to the Loans to be made on the Borrowing Date and that no event has occurred
or will be continuing on the Borrowing Date, or will result from the making of the Loans to be made on the Borrowing Date, which constitutes a Default or an Event of Default. 

 
  

	1 	 Insert appropriate interest rate option, and, if applicable, interest period. If Loans are to be a combination of LIBOR and ABR Loans, specify the
respective amounts of each type. 

 IN WITNESS WHEREOF, the Borrower has caused this request and certificate to be executed and
delivered by its duly authorized officer this              day of             , 20    . 

 

			
	MasterCard Incorporated
		
	By:	 	  

		 	Name:
		 	Title:

  
 2 

 EXHIBIT H 
 ASSIGNMENT AND ACCEPTANCE 
 Reference is made to the Credit Agreement,
dated as of November 16, 2012 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), among MasterCard Incorporated, a Delaware corporation (the “Borrower”), the several
banks and other financial institutions from time to time parties thereto (the “Lenders”), Citibank, N.A., as Managing Administrative Agent for the Lenders (in such capacity, the “Managing Administrative Agent”) and
JPMorgan Chase Bank, N.A., as Administrative Agent for the Lenders (in such capacity, the “Administrative Agent”), and Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings
given to them in the Credit Agreement. 
              (the
“Assignor”) and              (the “Assignee”) agree as follows: 
 i. The Assignor hereby irrevocably sells and assigns to the Assignee without recourse to the Assignor, and the Assignee hereby irrevocably purchases and assumes from the Assignor without recourse to the
Assignor, as of the Effective Date (as defined below) (but not prior to the registration of the information contained herein in the Register pursuant to subsection 9.6(e) of the Credit Agreement), an interest (the “Assigned
Interest”) in and to the Assignor’s rights and obligations under the Credit Agreement with respect to those credit facilities contained in the Credit Agreement as are set forth on Schedule 1 (individually, an “Assigned
Facility”; collectively, the “Assigned Facilities”), in a principal amount for each Assigned Facility as set forth on Schedule 1. 
 ii. The Assignor (a) makes no representation or warranty and assumes no responsibility with respect to any statements, warranties or representations made in or in connection with the Credit
Agreement, any other Loan Document or any other instrument or document furnished pursuant thereto, or with respect to the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Credit Agreement, any other Loan
Document or any other instrument or document furnished pursuant thereto, other than that the Assignor has not created any adverse claim upon the interest being assigned by it hereunder and that such interest is free and clear of any such adverse
claim; (b) makes no representation or warranty and assumes no responsibility with respect to the financial condition of the Borrower, any of its Subsidiaries or any other obligor or the performance or observance by the Borrower, any of its
Subsidiaries or any other obligor of any of their respective obligations under the Credit Agreement or any other Loan Document or any other instrument or document furnished pursuant hereto or thereto; and (c) (i) requests that the Managing
Administrative Agent, upon request by the Assignee, (a) exchange any attached Notes for a new Note or Notes payable to the Assignee or, (b) if the Assignor does not hold any Notes, issue a new Note or Notes payable to the Assignee if so
requested and (ii) if (A) the Assignor has retained any interest in the Assigned Facility and (B) the Assignor holds any Notes, requests that the Managing Administrative Agent exchange the attached Notes for a new Note or Notes
payable to the Assignor, in each case in amounts which reflect the assignment being made hereby (and after giving effect to any other assignments which have become effective on the Effective Date). 

 iii. The Assignee (a) represents and warrants that it is legally authorized to enter
into this Assignment and Acceptance; (b) confirms that, to the extent it has so required, it has received a copy of the Credit Agreement, together with copies of the financial statements referred to in or delivered pursuant to Sections 3.1
and 5.1 thereof and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Assignment and Acceptance; (c) agrees that it will, independently and without reliance upon
the Assignor, the Managing Administrative Agent or any other Lender and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Credit
Agreement, the other Loan Documents or any other instrument or document furnished pursuant hereto or thereto; (d) appoints and authorizes the Managing Administrative Agent to take such action as Managing Administrative Agent on its behalf and
to exercise such powers and discretion under the Credit Agreement, the other Loan Documents or any other instrument or document furnished pursuant hereto or thereto as are delegated to the Managing Administrative Agent by the terms thereof, together
with such powers as are incidental thereto; and (e) agrees that, with respect to the Assigned Interest, it will be a party to and bound by the provisions of the Credit Agreement and will perform in accordance with its terms all the obligations
which by the terms of the Credit Agreement are required to be performed by it as a Lender including, if it is organized under the laws of a jurisdiction outside the United States, its obligations pursuant to subsection 2.21(b) of the Credit
Agreement. 
 iv. The effective date of this Assignment and Acceptance shall be
                     , 20     (the “Effective Date”). Following the execution of this Assignment and Acceptance
and the consent hereto by the Borrower to the extent required under the Credit Agreement, it will be delivered to the Managing Administrative Agent for acceptance by it and recording by the Managing Administrative Agent pursuant to the Credit
Agreement, effective as of the Effective Date (which shall not, unless otherwise agreed to by the Managing Administrative Agent, be earlier than five Business Days after the date of such acceptance and recording by the Managing Administrative
Agent). 
 v. Upon such acceptance and recording, from and after the Effective Date, the Managing Administrative Agent shall
make all payments in respect of the Assigned Interest (including payments of principal, interest, fees and other amounts) to the Assignor and Assignee. The Assignor and the Assignee shall make all appropriate adjustments in payments by the Managing
Administrative Agent for periods prior to the Effective Date or with respect to the making of this assignment directly between themselves. 
 vi. From and after the Effective Date, (a) the Assignee shall, with respect to the Assigned Interest, be a party to the Credit Agreement and, to the extent provided in this Assignment and Acceptance,
have the rights and obligations of a Lender thereunder and under the other Loan Documents and shall be bound by the provisions thereof and (b) the Assignor shall, to the extent provided in this Assignment and Acceptance, relinquish its rights
(except pursuant to Sections 2.19, 2.20 and 9.5 of the Credit Agreement) and be released from its obligations under the Credit Agreement. 
 vii. This Assignment and Acceptance shall be governed by and construed in accordance with the law of the State of New York. 

  
 2 

 viii. This Agreement may be executed by one or more of the parties to this Agreement on any
number of separate counterparts (including by facsimile transmission), and all of said counterparts taken together shall be deemed to constitute one and the same instrument. 
 IN WITNESS WHEREOF, the parties hereto have caused this Assignment and Acceptance to be executed as of the date first above written by their respective duly authorized officers on Schedule 1
hereto. 

  
 3 

 Schedule 1 
 to Assignment and Acceptance 
 Re: Assignment and Acceptance relating to the Credit
Agreement, dated as of November 16, 2012 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), among MasterCard Incorporated, a Delaware corporation (the “Borrower”), the
several banks and other financial institutions from time to time parties thereto (the “Lenders”), Citibank, N.A., as Managing Administrative Agent for the Lenders (in such capacity, the “Managing Administrative
Agent” ) and JPMorgan Chase Bank, N.A., as Administrative Agent for the Lenders (in such capacity, the “Administrative Agent”). 
  

 
 Name of Assignor: 

Name of Assignee: 
 Effective Date of
Assignment: 
  

					
	 Credit Facility Assigned
	  	Principal
Amount Assigned	 
		
	 Revolving Credit
	  	$	            	  

 The terms set forth above are hereby agreed to by: 

 

									
	[NAME OF ASSIGNEE]	 		 	[NAME OF ASSIGNOR]
					
	By	 	  
	 		 	By	 	  

	Name:	 		 		 	Name:	 	
	Title:	 		 		 	Title:	 	
			
	Accepted:	 		 	Consented To:
			
	CITIBANK, N.A., as	 		 	MASTERCARD INCORPORATED
	Managing Administrative Agent	 		 		 	
					
	By	 	  
	 		 	By	 	  

	Name:	 		 		 	Name:	 	
	Title:	 		 		 	Title:	 	

  
 4 

 EXHIBIT I 
 [FORM OF COMPLIANCE CERTIFICATE] 
 Pursuant to subsection 5.2(a) of the
Credit Agreement, dated as of November 16, 2012 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), among MasterCard Incorporated, a Delaware corporation (the
“Borrower”), the several banks and other financial institutions from time to time parties thereto (the “Lenders”), Citibank, N.A., as Managing Administrative Agent for the Lenders and JPMorgan Chase Bank, N.A., as
Administrative Agent for the Lenders, the undersigned,              of the Borrower, hereby certifies that during the period from
[            ] to [            ] (the “Reporting Period”), except as set forth on Schedule I hereto:

 1. To the best of my knowledge, during Reporting Period, the Borrower has observed or performed all of its
covenants and other agreements, and satisfied every condition, contained in the Credit Agreement, including the negative covenant set forth in Section 6.1 of the Credit Agreement, and the other Loan Documents to be observed, performed or
satisfied by it. 
 2. No Default or Event of Default has occurred and is continuing as of the date hereof.

 3. Attached are true and correct calculations demonstrating compliance with Section 6.1 of the Credit
Agreement. 
 Unless otherwise defined herein, capitalized terms which are defined in the Credit Agreement and used herein are
so used as so defined. 
 IN WITNESS WHEREOF, the undersigned has hereunto set his or her name and affixed the corporate seal.

  

			
	MASTERCARD INCORPORATED
		
	By:	 	  

	Name:	 	  

	Title:	 	  

 Date:             
    , 20     

 Schedule I to 

Compliance Certificate 
 [Disclosure] 

 EXHIBIT J-1 
 [FORM OF NEW LENDER SUPPLEMENT] 
 SUPPLEMENT, dated
            , to the Credit Agreement dated as of November 16, 2012 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), among
MASTERCARD INCORPORATED, a Delaware corporation (the “Borrower”), the several banks and other financial institutions parties thereto (the “Lenders”), CITIBANK, N.A., as Managing Administrative Agent (in such
capacity, the “Managing Administrative Agent”) for the Lenders and JPMORGAN CHASE BANK, N.A., as Administrative Agent (in such capacity, the “Administrative Agent”) for the Lenders. 

W I T N E S S E T H : 
 WHEREAS, the Credit Agreement provides in subsection 2.23(b) thereof that any bank, financial institution or other entity, although not originally a party thereto, may become a party to the Credit
Agreement with the consent of the Borrower and the Managing Administrative Agent by executing and delivering to the Borrower and the Managing Administrative Agent a supplement to the Credit Agreement in substantially the form of this Supplement; and

 WHEREAS, the undersigned was not an original party to the Credit Agreement but now desires to become a party thereto;

 NOW, THEREFORE, the undersigned hereby agrees as follows: 

1. The undersigned agrees to be bound by the provisions of the Credit Agreement, and agrees that it shall, on the date
this Supplement is accepted by the Borrower and the Managing Administrative Agent, become a Lender for all purposes of the Credit Agreement to the same extent as if originally a party thereto, with a Commitment of
$        . 
 2. The undersigned (a) represents and warrants that it
is legally authorized to enter into this Supplement; (b) confirms that it has received a copy of the Credit Agreement, together with copies of the financial statements delivered pursuant to Section 3.1 thereof and such other documents and
information as it has deemed appropriate to make its own credit analysis and decision to enter into this Supplement; (c) agrees that it has made and will, independently and without reliance upon the Managing Administrative Agent or any other
Lender and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Credit Agreement or any instrument or document furnished pursuant hereto
or thereto; (d) appoints and authorizes the Managing Administrative Agent to take such action as Managing Administrative Agent on its behalf and to exercise such powers and discretion under the Credit Agreement or any instrument or document
furnished pursuant hereto or thereto as are delegated to the Managing Administrative Agent by the terms thereof, together with such powers as are incidental thereto; and (e) agrees that it will be bound by the provisions of the Credit Agreement
and will perform in accordance with its terms all the obligations which by the terms of 

 
the Credit Agreement are required to be performed by it as a Lender including, without limitation, if it is organized under the laws of a jurisdiction outside the United States, its obligation
pursuant to subsection 2.21(b) of the Credit Agreement. 
 3. The undersigned’s address for notices for the
purposes of the Credit Agreement is as follows: 
 4. Terms defined in the Credit Agreement shall have their
defined meanings when used herein. 
 IN WITNESS WHEREOF, the undersigned has caused this Supplement to be executed and
delivered by a duly authorized officer on the date first above written. 
  

			
	[INSERT NAME OF LENDER]
		
	By	 	  

		 	Name:
		 	Title:

 Accepted this      day of 
             ,         . 

 

			
	MASTERCARD INCORPORATED
		
	By	 	  

		 	Name:
		 	Title:
	
	 Accepted this      day of
             ,         .

	
	CITIBANK, N.A., as Managing Administrative Agent
		
	By	 	  

		 	Name:
		 	Title:

  
 2 

 EXHIBIT J-2 
 [FORM OF COMMITMENT INCREASE SUPPLEMENT] 
 SUPPLEMENT, dated
            , to the Credit Agreement dated as of November 16, 2012 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), among
MASTERCARD INCORPORATED, a Delaware corporation (the “Borrower”), the several banks and other financial institutions parties thereto (the “Lenders”), CITIBANK, N.A., as Managing Administrative Agent (in such
capacity, the “Managing Administrative Agent”) for the Lenders and JPMORGAN CHASE BANK, N.A., as Administrative Agent (in such capacity, the “Administrative Agent”) for the Lenders. 

W I T N E S S E T H : 
 WHEREAS, the Credit Agreement provides in subsection 2.23(c) thereof that any Lender with (when applicable) the consent of the Borrower may increase the amount of its Commitment by executing and
delivering to the Borrower and the Managing Administrative Agent a supplement to the Credit Agreement in substantially the form of this Supplement; and 
 WHEREAS, the undersigned now desires to increase the amount of its Commitment under the Credit Agreement; 
 NOW THEREFORE, the undersigned hereby agrees as follows: 
 1. The
undersigned agrees, subject to the terms and conditions of the Credit Agreement, that on the date this Supplement is accepted by the Borrower and the Managing Administrative Agent it shall have its Commitment increased by
$        , thereby making the amount of its Commitment $        . 
 2. Terms defined in the Credit Agreement shall have their defined meanings when used herein. 
 [remainder of page intentionally blank] 

 IN WITNESS WHEREOF, the undersigned has caused this Supplement to be executed and delivered
by a duly authorized officer on the date first above written. 
  

			
	[INSERT NAME OF LENDER]
		
	By	 	  

		 	Name:
		 	Title:

 Accepted this      day of 
             ,         . 

 

			
	MASTERCARD INCORPORATED
		
	By	 	  

		 	Name:
		 	Title:
	
	 Accepted this      day of
             ,         .

	
	CITIBANK, N.A., as Managing Administrative Agent
		
	By	 	  

		 	Name:
		 	Title:

  
 2 

 EXHIBIT K-1 
 [FORM OF U.S. TAX CERTIFICATE] 
 (For Non-U.S. Lenders That Are
Not Partnerships For U.S. Federal Income Tax Purposes) 
 Reference is hereby made to the Credit Agreement, dated as of
November 16, 2012, (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), among MASTERCARD INCORPORATED, a Delaware corporation (the “Borrower”), the several banks and other
financial institutions from time to time parties to the Credit Agreement (the “Lenders”), CITIBANK, N.A., as managing administrative agent for the Lenders under the Credit Agreement (in such capacity, the “Managing
Administrative Agent”), and JPMORGAN CHASE BANK, N.A., as administrative agent for the Lenders under the Credit Agreement (in such capacity, the “Administrative Agent”). 

Pursuant to the provisions of Section 2.21 of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole
record and beneficial owner of the Loan(s) (as well as any Note(s) evidencing such Loan(s)) in respect of which it is providing this certificate, (ii) it is not a bank within the meaning of Section 881(c)(3)(A) of the Code, (iii) it
is not a ten percent shareholder of the Borrower within the meaning of Section 871(h)(3)(B) of the Code, (iv) it is not a controlled foreign corporation related to the Borrower as described in Section 881(c)(3)(C) of the Code and
(v) the interest payments in question are not effectively connected with the undersigned’s conduct of a U.S. trade or business. 
 The undersigned has furnished the Managing Administrative Agent and the Borrower with a certificate of its non-U.S. person status on United States Internal Revenue Service Form W-8BEN. By
executing this certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall promptly so inform the Borrower and the Managing Administrative Agent and (2) the undersigned shall
have at all times furnished the Borrower and the Managing Administrative Agent with a properly completed and currently effective certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the two
calendar years preceding such payments. 
 Unless otherwise defined herein, terms defined in the Credit Agreement and used
herein shall have the meanings given to them in the Credit Agreement. 
  

			
	[NAME OF LENDER]
		
	By:	 	  

		 	Name:
		 	Title:
	
	Date:                  , 20[    ]

 EXHIBIT K-2 
 [FORM OF U.S. TAX CERTIFICATE] 
 (For Non-U.S. Lenders That Are
Partnerships For U.S. Federal Income Tax Purposes) 
 Reference is hereby made to the Credit Agreement, dated as of
November 16, 2012 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), among MASTERCARD INCORPORATED, a Delaware corporation (the “Borrower”), the several banks and other
financial institutions from time to time parties to the Credit Agreement (the “Lenders”), CITIBANK, N.A., as managing administrative agent for the Lenders under the Credit Agreement (in such capacity, the “Managing
Administrative Agent”), and JPMORGAN CHASE BANK, N.A., as administrative agent for the Lenders under the Credit Agreement (in such capacity, the “Administrative Agent”). 

Pursuant to the provisions of Section 2.21 of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole
record owner of the Loan(s) (as well as any Note(s) evidencing such Loan(s)) in respect of which it is providing this certificate, (ii) its partners/members are the sole beneficial owners of such Loan(s) (as well as any Note(s) evidencing such
Loan(s)), (iii) with respect to the extension of credit pursuant to this Credit Agreement, neither the undersigned nor any of its partners/members is a bank extending credit pursuant to a loan agreement entered into in the ordinary course of
its trade or business within the meaning of Section 881(c)(3)(A) of the Code, (iv) none of its partners/members is a ten percent shareholder of the Borrower within the meaning of Section 871(h)(3)(B) of the Code, (v) none of its
partners/members is a controlled foreign corporation related to the Borrower as described in Section 881(c)(3)(C) of the Code, and (vi) the interest payments in question are not effectively connected with the undersigned’s or its
partners/members’ conduct of a U.S. trade or business. 
 The undersigned has furnished the Managing Administrative
Agent and the Borrower with United States Internal Revenue Service Form W-8IMY accompanied by a United States Internal Revenue Service Form W-8BEN from each of its partners/members claiming the portfolio interest exemption. By executing
this certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall promptly so inform the Borrower and the Managing Administrative Agent and (2) the undersigned shall have at
all times furnished the Borrower and the Managing Administrative Agent with a properly completed and currently effective certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar
years preceding such payments. 
 Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall
have the meanings given to them in the Credit Agreement. 

			
	[NAME OF LENDER]
		
	By:	 	  

		 	Name:
		 	Title:

 Date:                  ,
20[    ] 

  
 2 

 EXHIBIT K-3 
 [FORM OF U.S. TAX CERTIFICATE] 
 (For Non-U.S. Participants That
Are Not Partnerships For U.S. Federal Income Tax Purposes) 
 Reference is hereby made to the Credit Agreement, dated as of
November 16, 2012 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), among MASTERCARD INCORPORATED, a Delaware corporation (the “Borrower”), the several banks and other
financial institutions from time to time parties to the Credit Agreement (the “Lenders”), CITIBANK, N.A., as managing administrative agent for the Lenders under the Credit Agreement (in such capacity, the “Managing
Administrative Agent”), and JPMORGAN CHASE BANK, N.A., as administrative agent for the Lenders under the Credit Agreement (in such capacity, the “Administrative Agent”). 

Pursuant to the provisions of Section 2.21 of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole
record and beneficial owner of the participation in respect of which it is providing this certificate, (ii) it is not a bank within the meaning of Section 881(c)(3)(A) of the Code, (iii) it is not a ten percent shareholder of the
Borrower within the meaning of Section 871(h)(3)(B) of the Code, (iv) it is not a controlled foreign corporation related to the Borrower as described in Section 881(c)(3)(C) of the Code, and (v) the interest payments in question
are not effectively connected with the undersigned’s conduct of a U.S. trade or business. 
 The undersigned has
furnished its participating Lender with a certificate of its non-U.S. person status on United States Internal Revenue Service Form W-8BEN. By executing this certificate, the undersigned agrees that (1) if the information provided on
this certificate changes, the undersigned shall promptly so inform such Lender in writing and (2) the undersigned shall have at all times furnished such Lender with a properly completed and currently effective certificate in either the calendar
year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding such payments. 

Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the
Credit Agreement. 
  

			
	[NAME OF PARTICIPANT]
		
	By:	 	  

		 	Name:
		 	Title:

 Date:                  ,
20[    ] 

 EXHIBIT K-4 
 [FORM OF U.S. TAX CERTIFICATE] 
 (For Non-U.S. Participants That
Are Partnerships For U.S. Federal Income Tax Purposes) 
 Reference is hereby made to the Credit Agreement, dated as of
November 16, 2012 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), among MASTERCARD INCORPORATED, a Delaware corporation (the “Borrower”), the several banks and other
financial institutions from time to time parties to the Credit Agreement (the “Lenders”), CITIBANK, N.A., as managing administrative agent for the Lenders under the Credit Agreement (in such capacity, the “Managing
Administrative Agent”), and JPMORGAN CHASE BANK, N.A., as administrative agent for the Lenders under the Credit Agreement (in such capacity, the “Administrative Agent”). 

Pursuant to the provisions of Section 2.21 of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole
record owner of the participation in respect of which it is providing this certificate, (ii) its partners/members are the sole beneficial owners of such participation, (iii) with respect such participation, neither the undersigned nor any
of its partners/members is a bank extending credit pursuant to a loan agreement entered into in the ordinary course of its trade or business within the meaning of Section 881(c)(3)(A) of the Code, (iv) none of its partners/members is a ten
percent shareholder of the Borrower within the meaning of Section 871(h)(3)(B) of the Code, (v) none of its partners/members is a controlled foreign corporation related to the Borrower as described in Section 881(c)(3)(C) of the Code,
and (vi) the interest payments in question are not effectively connected with the undersigned’s or its partners/members’ conduct of a U.S. trade or business. 

The undersigned has furnished its participating Lender with United States Internal Revenue Service Form W-8IMY accompanied by a
United States Internal Revenue Service Form W-8BEN from each of its partners/members claiming the portfolio interest exemption. By executing this certificate, the undersigned agrees that (1) if the information provided on this certificate
changes, the undersigned shall promptly so inform such Lender and (2) the undersigned shall have at all times furnished such Lender with a properly completed and currently effective certificate in either the calendar year in which each payment
is to be made to the undersigned, or in either of the two calendar years preceding such payments. 
 Unless otherwise defined
herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit Agreement. 
  

			
	[NAME OF PARTICIPANT]
		
	By:	 	  

		 	Name:
		 	Title:

 Date:                 
    , 20[    ]EX-4.1

 Exhibit 4.1 
 Energizer Holdings, Inc. 
 Savings Investment Plan 

January 2010 

 AMENDMENT NO. 15 

TO 

ENERGIZER HOLDINGS, INC. 
 SAVINGS INVESTMENT PLAN 
 WHEREAS, effective April 1, 2000, Ralston Purina
Company (“Ralston”) a Missouri Corporation, spun off its battery and lighting products business to the shareholders of Ralston common stock in a spin off qualifying under Code Section 355 (“the Spin Off”); 

WHEREAS, as part of the Spin Off, the Ralston Savings Investment Plan (“Ralston SIP”), a qualified plan under Code Sections 401(a) and
(k), was split into two plans, the Ralston SIP and the Energizer Holdings, Inc. Savings Investment Plan (“Plan” or “SIP”) and such split constituted a spin-off of the Ralston SIP as defined under Code Section 414(l);

 WHEREAS, to effect the spin off of the Ralston SIP, the total account balances of all participants in the Ralston SIP on
March 31, 2000, who are Energizer Individuals, as defined in the Agreement and Plan of Reorganization dated April 1, 2000 (“the Agreement”) between Ralston and Energizer Holdings, Inc. (“Energizer”), were transferred by
the Trustee of the Ralston SIP and the Trustee of the SIP effective as soon as practicable after March 31, 2000; 
 WHEREAS, the
Energizer Board of Directors adopted the SIP effective as of April 1, 2000; 
 WHEREAS, Energizer made certain changes to and
restated the SIP effective October 1, 2001; 
 WHEREAS, Energizer subsequently amended the SIP to, among other things, provide that
the employees of Warner-Lambert LLC and any affiliated company of Warner-Lambert LLC who were participants in the Pfizer Savings Plan on March 28, 2003 and who became employees of Energizer or any of its Affiliates on or after March 29,
2003 (“Former Warner-Lambert LLC employees”) shall become participants in the SIP; from March 29, 2003 through December 31, 2003, the provisions of the Pfizer Savings Plan were duplicated under the SIP for such Former
Warner-Lambert LLC employees; on January 1, 2004, Former Warner-Lambert employees became subject to the non-duplicated terms of the SIP; 

WHEREAS, Energizer made certain changes to and restated the SIP effective March 28, 2005; and 

WHEREAS, Energizer made certain changes to and restated the SIP effective January 1, 2006, including changes to comply with the final
regulations issued under Code sections 401(k)/401(m); and 
 WHEREAS, Energizer subsequently amended the SIP by an Amendment No. 11
to provide for the merger of the four defined contribution pension plans sponsored by Playtex Products, Inc. or any of its subsidiaries into the Plan effective as of January 1, 2008; by an Amendment No. 12, to provide, among other things,
for automatic enrollment of certain employees, increased contribution percentages and modification to the true-up matching contribution; by an Amendment No. 13 as requested by the IRS in connection with the Plan’s pending determination

 
letter application; and an Amendment No. 14 to comply with the provisions of the Pension Protection Act of 2006, the Worker, Retiree and Employer Recovery Act of 2008 and the Heroes Earnings
Assistance and Relief Tax Act of 2008; and 
 WHEREAS, Energizer desires to amend and restate the SIP effective as of January 1,
2010 except as otherwise provided herein, to incorporate Amendments No. 11, 12, 13 and 14 into the document and to make certain changes to the SIP to reflect the redesign of the Energizer Holdings, Inc. Retirement Plan effective January 1,
2010, including the removal of all references to After-Tax Matched Contributions. 
 NOW, THEREFORE, the SIP is hereby amended and
restated effective January 1, 2010 except as otherwise provided herein as follows: 

 Table of Contents 

 

					
	  	  	Page	 
	 ARTICLE I Definitions
	  	 	1	  
		
	 Section 1.01—Accounts
	  	 	1	  
	 Section 1.02—Administrative Committee
	  	 	1	  
	 Section 1.03—Affiliated Company
	  	 	1	  
	 Section 1.04—After-Tax Investment Account
	  	 	1	  
	 Section 1.05—After-Tax Contributions
	  	 	1	  
	 Section 1.06—Before-Tax Investment Account
	  	 	1	  
	 Section 1.07—Before-Tax Matched Contributions
	  	 	1	  
	 Section 1.08—Before-Tax Unmatched Contributions
	  	 	1	  
	 Section 1.09—Beneficiary
	  	 	2	  
	 Section 1.10—Board of Directors
	  	 	2	  
	 Section 1.11—Closing Price
	  	 	2	  
	 Section 1.12—Code
	  	 	2	  
	 Section 1.13—Common Stock
	  	 	2	  
	 Section 1.14—Company
	  	 	2	  
	 Section 1.15—Company Matching Contribution Account
	  	 	2	  
	 Section 1.16—Company Matching Contributions
	  	 	2	  
	 Section 1.17—Compensation
	  	 	3	  
	 Section 1.18—Covered Service
	  	 	3	  
	 Section 1.19—Disability
	  	 	4	  
	 Section 1.20—Effective Date
	  	 	4	  
	 Section 1.21—Employee
	  	 	4	  
	 Section 1.22—Highly Compensated Employee
	  	 	4	  
	 Section 1.23—Investment Committee
	  	 	4	  
	 Section 1.24—Investment Funds
	  	 	5	  
	 Section 1.25—Leased Employee
	  	 	5	  
	 Section 1.26—Member
	  	 	5	  
	 Section 1.27—Non-Highly Compensated Employee
	  	 	5	  
	 Section 1.28—Participating Employer
	  	 	5	  
	 Section 1.29—Plan
	  	 	5	  
	 Section 1.30—Plan Administrator
	  	 	5	  
	 Section 1.31—Plan Year
	  	 	5	  
	 Section 1.32 – Playtex Merged Plan Account
	  	 	5	  
	 Section 1.33 – Playtex Plans
	  	 	6	  
	 Section 1.34—Ralston SIP
	  	 	6	  
	 Section 1.35—Retirement
	  	 	6	  
	 Section 1.36—Rollover Account
	  	 	6	  
	 Section 1.37—Spouse
	  	 	6	  
	 Section 1.38—Termination of Employment
	  	 	6	  
	 Section 1.39—Temporary Employee
	  	 	6	  
	 Section 1.40—Trust Agreement
	  	 	6	  
	 Section 1.41—Trust Fund
	  	 	7	  
	 Section 1.42—Trustee
	  	 	7	  
	 Section 1.43—Valuation Date
	  	 	7	  
	 Section 1.44—Withdrawal Valuation Date
	  	 	7	  

  
 i 

					
	 ARTICLE II Membership
	  	 	7	  
		
	 Section 2.01—Eligibility
	  	 	7	  
	 Section 2.02—Membership Application
	  	 	7	  
	 Section 2.03—Special Rule for Change in Job Classification
	  	 	8	  
	 Section 2.04—Rehired Former Member
	  	 	8	  
	 Section 2.05—Rehired Former Employee
	  	 	8	  
		
	 ARTICLE III Service
	  	 	8	  
		
	 Section 3.01—Absence in Military Service
	  	 	8	  
	 Section 3.02—Approved Leave of Absence
	  	 	9	  
	 Section 3.03—Family Medical Leave Act
	  	 	9	  
	 Section 3.04—Period of Service
	  	 	9	  
	 Section 3.05—Service Definitions
	  	 	9	  
		
	 ARTICLE IV Contributions
	  	 	10	  
		
	 Section 4.01—Before-Tax Matched Contributions
	  	 	10	  
	 Section 4.02—Company Matching Contributions
	  	 	10	  
	 Section 4.03—Before-Tax Unmatched Contributions
	  	 	11	  
	 Section 4.04—After-Tax Contributions
	  	 	11	  
	 Section 4.05—Limits on Before-Tax Contributions
	  	 	11	  
	 Section 4.06—Limits on Company Matching Contributions
	  	 	14	  
	 Section 4.07—Limitation of Contributions
	  	 	17	  
	 Section 4.08—Transfer of Member Contributions
	  	 	18	  
	 Section 4.09—Change in Member Contributions
	  	 	18	  
	 Section 4.10—Suspension of Member Contributions
	  	 	18	  
		
	 ARTICLE V ESOP Common Stock Fund
	  	 	19	  
		
	 Section 5.01—The ESOP Common Stock Fund
	  	 	19	  
	 Section 5.02—Common Stock Dividends
	  	 	19	  
	 Section 5.03—Withdrawals and Distributions
	  	 	19	  
	 Section 5.04—Voting and Tendering
	  	 	20	  
	 Section 5.05—Diversification Elections
	  	 	20	  
	 Section 5.06 – Special Rules for Common Stock
	  	 	20	  
	 Section 5.07—Share Purchase Loans
	  	 	22	  
	 Section 5.08—Release from ESOP Loan Suspense Account
	  	 	22	  
	 Section 5.09—Use of Loan Proceeds and Dividends
	  	 	23	  
		
	 ARTICLE VI Investment Funds
	  	 	23	  
		
	 Section 6.01—Investment of Member Accounts
	  	 	23	  
	 Section 6.02—Member Responsibility For Selection of Funds
	  	 	24	  
		
	 ARTICLE VII Valuation of Assets and Members’ Accounts
	  	 	24	  
		
	 Section 7.01—Valuation of Assets
	  	 	24	  
	 Section 7.02—Valuation of Accounts
	  	 	24	  
	 Section 7.03—Statement of Accounts
	  	 	24	  
	 Section 7.04—Accounts in Units
	  	 	24	  

  
 ii 

					
		
	 ARTICLE VIII Vesting of Contributions
	  	 	24	  
		
	 Section 8.01—Vesting of Member Contributions
	  	 	24	  
	 Section 8.02—Vesting of Company Matching Contribution Account
	  	 	25	  
	 Section 8.03—Playtex Plans Transition Rule
	  	 	26	  
		
	 ARTICLE IX Distributions
	  	 	27	  
		
	 Section 9.01—General
	  	 	27	  
	 Section 9.02—Methods of Distribution
	  	 	27	  
	 Section 9.03—Completion of Appropriate Forms
	  	 	28	  
	 Section 9.04—Accounts of Former Employees
	  	 	28	  
	 Section 9.05—Consent to Payment
	  	 	28	  
	 Section 9.06—Latest Deferral of Payment
	  	 	29	  
	 Section 9.07—Required Payments
	  	 	29	  
	 Section 9.08—Lost Payees
	  	 	32	  
	 Section 9.09—Direct Rollovers
	  	 	32	  
		
	 ARTICLE X Death Benefits
	  	 	33	  
		
	 Section 10.01—Death Benefits
	  	 	33	  
	 Section 10.02—Beneficiary Designation
	  	 	34	  
	 Section 10.03—Latest Time for Payment
	  	 	34	  
	 Section 10.04—Payments in the Event of Death with No Designated Survivor or Incompetency
	  	 	34	  
	 Section 10.05—Renunciation of Death Benefit
	  	 	34	  
	 Section 10.06—Proof of Death and Right of Beneficiary or Other Person
	  	 	34	  
		
	 ARTICLE XI Withdrawal Prior to Termination of Employment
	  	 	35	  
		
	 Section 11.01—Withdrawal of After-Tax Investment Account
	  	 	35	  
	 Section 11.02—Hardship Withdrawal
	  	 	35	  
	 Section 11.03—Age Fifty-Nine and One-Half (59-1/2) Withdrawal
	  	 	36	  
	 Section 11.04—Withdrawals of Rollovers
	  	 	36	  
	 Section 11.05—Age Seventy and One-Half (70-1/2) Withdrawal
	  	 	37	  
	 Section 11.06—Order of Withdrawals
	  	 	37	  
		
	 ARTICLE XII Forfeitures
	  	 	37	  
		
	 Section 12.01—Time of Forfeiture and Restoration
	  	 	37	  
	 Section 12.02—Disposition of Forfeitures
	  	 	37	  
	 Section 12.03—Effect of Withdrawal Under Article XI
	  	 	37	  
	 Section 12.04—Parental Leave
	  	 	37	  
		
	 ARTICLE XIII Administration of Plan
	  	 	38	  
		
	 Section 13.01—Plan Administrator
	  	 	38	  
	 Section 13.02—Authority and Duties of Various Fiduciaries
	  	 	38	  
	 Section 13.03—Named Fiduciaries
	  	 	39	  
	 Section 13.04—Delegation
	  	 	39	  
	 Section 13.05—Multiple Capacities
	  	 	40	  

  
 iii

					
		
	 ARTICLE XIV Amendments, Termination, Permanent Discontinuance of Contributions, Merger or Consolidation
	  	 	40	  
		
	 Section 14.01—Amendments
	  	 	40	  
	 Section 14.02—Termination or Permanent Discontinuance of Contributions
	  	 	40	  
	 Section 14.03—Partial Termination
	  	 	40	  
	 Section 14.04—Benefits in Case of Merger or Consolidation
	  	 	40	  
		
	 ARTICLE XV Loans
	  	 	41	  
		
	 Section 15.01—Loans
	  	 	41	  
	 Section 15.02—Interest Rates
	  	 	42	  
	 Section 15.03—Other Rules
	  	 	42	  
		
	 ARTICLE XVI Miscellaneous
	  	 	42	  
		
	 Section 16.01—Benefits Payable from Trust Fund
	  	 	42	  
	 Section 16.02—Elections
	  	 	42	  
	 Section 16.03—No Right to Continued Employment
	  	 	42	  
	 Section 16.04—Inalienability of Benefits and Interest
	  	 	42	  
	 Section 16.05—Payments for Exclusive Benefits of Members
	  	 	43	  
	 Section 16.06—Prohibited Investment
	  	 	43	  
	 Section 16.07—Rules of Construction
	  	 	43	  
	 Section 16.08—No Guarantee
	  	 	43	  
	 Section 16.09—Address of Record
	  	 	44	  
	 Section 16.10—Participating Employers
	  	 	44	  
	 Section 16.11—Headings
	  	 	44	  
	 Section 16.12—Use of Masculine Terms
	  	 	44	  
	 Section 16.13—Payment of Expenses
	  	 	44	  
	 Section 16.14—Rollover Contributions
	  	 	45	  
		
	 ARTICLE XVII Claims and Review Procedures
	  	 	45	  
		
	 Section 17.01—Claims for Benefits
	  	 	45	  
	 Section 17.02—Written Denials of Claims
	  	 	45	  
	 Section 17.03—Appeal of Denial
	  	 	46	  
	 Section 17.04—Limitation of Action and Choice of Venue
	  	 	46	  
		
	 ARTICLE XVIII Limitation on Contributions
	  	 	47	  
		
	 Section 18.01—Limitation—In General
	  	 	47	  
	 Section 18.02—Limitation if Other Qualified Defined Contribution Plan
	  	 	48	  
	 Section 18.03—Corrective Action
	  	 	48	  
		
	 ARTICLE XIX Top-Heavy Provisions
	  	 	48	  
		
	 Section 19.01—Introduction
	  	 	48	  
	 Section 19.02—Top-Heavy Plan
	  	 	48	  
	 Section 19.03—Determination Date
	  	 	49	  
	 Section 19.04—Valuation of Trust Fund as of Determination Date
	  	 	49	  
	 Section 19.05—Key Employee; Non-Key Employee
	  	 	49	  
	 Section 19.06—Minimum Benefit
	  	 	50	  
	 Section 19.07—Subsequent Amendment of Provisions
	  	 	50	  

  
 iv 

 ENERGIZER HOLDINGS, INC. 

SAVINGS INVESTMENT PLAN 
 ARTICLE I 
 Definitions 

Section 1.01—Accounts 

Accounts shall mean, with respect to any Member, his or her Before-Tax Investment Account, After-Tax Investment Account, Company Matching Contribution
Account and Rollover Account. 
 Section 1.02—Administrative Committee 
 Administrative Committee shall mean the Energizer Plans Administrative Committee which has the responsibility and authority to administer the Plan. 

Section 1.03—Affiliated Company 

Affiliated Company shall mean (1) any corporation which is a member of a controlled group of corporations (within the meaning of Code
Section 414(b)) which includes the Company, (2) any trade or business (whether or not incorporated) which is under common control (within the meaning of Code Section 414(c)) with the Company, and (3) an organization (whether or
not incorporated) which is a member of an affiliated service group (within the meaning of Code Section 414(m)) which includes the Company, and (4) any other entity which is required to be aggregated with the Company under Code
Section 414(o). 
 Section 1.04—After-Tax Investment Account 
 After-Tax Investment Account shall mean that portion of the Trust Fund which, with respect to any Member, is attributable to his or her After-Tax Contributions and any investment earnings and gains or
losses thereon. 
 Section 1.05—After-Tax Contributions 
 After-Tax Contributions shall mean the amount of contributions made at the election of a Member in accordance with Section 4.04. 
 Section 1.06—Before-Tax Investment Account 
 Before-Tax Investment Account shall
mean that portion of the Trust Fund which, with respect to any Member, is attributable to Before-Tax Matched contributions, Before-Tax Unmatched Contributions and catch-up contributions made in accordance with Section 4.03(b), including
Before-Tax Matched Contributions and Before-Tax Unmatched Contributions recharacterized as catch-up contributions in accordance with Sections 4.05 and 4.07, and investment earnings and gains or losses thereon. 

Section 1.07—Before-Tax Matched Contributions 
 Before-Tax Matched Contributions shall mean the amount of contributions made at the election of the Member in accordance with Section 4.01. 
 Section 1.08—Before-Tax Unmatched Contributions 
 Before-Tax Unmatched
Contributions shall mean the amount of contributions made at the election of the Member in accordance with Section 4.03. 

  
 1 

 Section 1.09—Beneficiary 
 Beneficiary shall mean any person or persons (natural or otherwise) designated as such by a Member in accordance with the Plan. 
 Section 1.10—Board of Directors 
 Board of Directors shall mean the Board of
Directors of the Company and any committee authorized by such Board to act in its behalf with reference to the Plan. 

Section 1.11—Closing Price 

Closing Price shall mean the price assigned to a transaction order on a Valuation Date. Generally, the Closing Price is determined by the Trustee on the
day the order is placed. However, if, in the best judgment of the Investment Committee, it would not be in the best interests of Members to determine the Closing Price on the day the order is placed, due to unusual circumstances, the Investment
Committee may, in its sole discretion, complete the order in such manner as the Investment Committee deems prudent. If a transaction is completed over several days, Members who placed such orders on the original date will not be permitted to effect
any other transactions, other than making contributions and loan repayments, until a Closing Price for the original Valuation Date is established. The Closing Price assigned to such orders will reflect the average price of the transactions necessary
to complete the orders. 
 Section 1.12—Code 
 Code shall mean the Internal Revenue Code of 1986. Reference to any section of the Code shall include that section and any comparable section or sections of any future legislation that amends, supplements
or replaces said section. 
 Section 1.13—Common Stock 
 Common Stock shall mean the common stock of Energizer Holdings, Inc. and shall include any other authorized class or series of Common Stock outstanding upon the reclassification of any of such classes or
series of Common Stock, including, without limitation, any stock split-up, stock dividend, creation of targeted stock or other distributions of stock in respect of or any reverse stock split-up, or recapitalization of the Company, or any merger or
consolidation of the Company with any Affiliated Company. 
 Section 1.14—Company 

Company shall mean Energizer Holdings, Inc., a Missouri corporation, at all times a publicly-traded C Corporation, and any successor thereto. 

Section 1.15—Company Matching Contribution Account 
 Company Matching Contribution Account shall mean that portion of the Trust Fund which, with respect to any Member, is attributable to any contributions made on the Member’s behalf by the Company or
Participating Employer in accordance with Section 4.02 and any investment earnings and gains or losses thereon. 

Section 1.16—Company Matching Contributions 
 Company Matching Contributions shall mean the amount contributed by the Company and/or Participating Employer in accordance with Section 4.02. 

  
 2 

 Section 1.17—Compensation 
 Compensation shall mean the basic compensation and such other forms of cash compensation paid for employment in Covered Service, as determined by the Plan Administrator including but not limited to,
regular cash bonuses (unless the Member elects to defer such bonus under a Company sponsored deferred compensation plan); payments made by the Member as salary reduction as a result of an election pursuant to Code Section 125 or
Section 132(f)(4); payments received by Members as a result of non-occupational sicknesses or injuries as wage replacement; and payments received by a Member under any type of Company sponsored voluntary supplementation of worker’s
compensation payments. Compensation shall not include employer paid reimbursements and allowances, or non-recurring awards. 
 In order to be taken into account for purposes of this Section, compensation generally must be paid or treated as paid to the Member before the Member’s severance from employment (as defined in
Section 18.01). However, payments of compensation paid by the later of two and one-half months (2 1/2) months after the Members severance from employment or the end of the limitation year (as defined in
Section 18.01) that includes the date of the Member’s severance from employment shall be treated as compensation to the extent such amounts are compensation for services rendered that would have been paid absent a severance from
employment, or payments for accrued vacation or other leave the Member would have been able to use if employment had continued. 
 The
annual Compensation of each Member taken into account under the Plan shall not exceed the amount specified in Code section 401(a)(17), as adjusted for cost-of-living increases in accordance with Code Section 401(a)(17)(B) ($245,000 for 2009).
Annual Compensation means Compensation during the Plan Year or such other consecutive twelve-month period over which Compensation is otherwise determined under the Plan (the determination period). The cost-of-living adjustment in effect for a
calendar year applies to annual Compensation for the determination period that begins with or within such calendar year. 

Section 1.18—Covered Service 

Covered Service means service performed for the Company or Participating Employer while classified by the Company or Participating Employer as an Employee
(regardless of retroactive reclassification) for which the Employee is paid from a United States dollar payroll maintained in the United States and for which the Employee receives a regular and stated compensation or retainer. Covered Service shall
not include service: 
 (a) as an Internationally Assigned Employee unless such Internationally Assigned Employee is in a sales,
administrative, clerical, or production capacity for which the Employee receives a regular stated compensation or retainer which is subject to taxes imposed by the Federal Insurance Contributions Act; 

(b) covered by a collective bargaining agreement unless the terms and conditions of which provide for participation in the Plan;

 (c) as a Leased Employee; 
 (d) as a Temporary Employee; and 
 (e) as a fee-for-service worker or independent
contractor or in a similar capacity (rather than in the capacity of an Employee). 
 For all purposes under this Plan, service with Ralston
Purina Company or any Ralston Affiliated Company, as defined in the Ralston SIP (the “Ralston Group”), shall constitute Covered Service for all Employees who were employees of any member of the Ralston Group, including the Company or any
Affiliated Company, on March 31, 2000, and who are Employees of the Company or any Affiliated Company on March 31, 2001 and during the period April 1, 2000 through March 31, 2001, are continuously employed by the Ralston Group,
and/or the Company or any Affiliated Company. 

  
 3 

 Section 1.19—Disability 
 Disability shall mean, being disabled (a) within the meaning of (i) the Company’s long term disability program for Administrative Employees, if the Member is an Administrative Employee, and
(ii) the Company’s long term disability program for Production Employees, if the Member is a Production Employee and (b) which results in a Termination of Employment of such Member. For purposes of this Section 1.19,
Administrative Employee means an Employee who is classified by the Company as employed in a sales, administrative or clerical capacity, and Production Employee means an Employee who is classified by the Company as employed in a production employee
capacity. 
 Section 1.20—Effective Date 
 Effective Date shall mean April 1, 2000, unless another effective date is specified for a provision in the Plan. 
 Section 1.21—Employee 
 Employee shall mean any person who is employed by the
Company or any Affiliated Company. Any Leased Employee shall be treated as an Employee. 
 Section 1.22—Highly Compensated Employee

 Highly Compensated Employee for a Plan Year shall mean a Highly Compensated active Employee or a Highly Compensated former Employee.

 A Highly Compensated active Employee includes any Employee who (a) performs services for the Company or an Affiliated Company during the
Plan Year and who had Compensation in excess of the amount specified in Code Section 414(q)(1)(B), as adjusted by the Commissioner for increases in the cost of living ($110,000 for 2009) for the calendar year in which such preceding Plan Year
begins, or (b) is a five percent (5%) owner, as defined in Code Section 416(i), at any time during the Plan Year or the preceding Plan Year. 
 For purposes of determining Highly Compensated Employees, the Company elects to use the top-paid group election provided in Code Section 414(q)(3). 

A Highly Compensated former Employee includes any Employee who separated from service (or was deemed to have separated prior to the Plan Year), performs
no service for the Company or an Affiliated Company during the Plan Year, and was a Highly Compensated active Employee for either the year of separation or any Plan Year ending on or after the date the Employee attains age fifty-five
(55) years. 
 The determination of who is a Highly Compensated Employee will be made in accordance with Code Section 414(q).

 Section 1.23—Investment Committee 
 Investment Committee shall mean the Energizer Plans Administrative Committee which has the responsibility and authority to control and manage the investment matters of the Trust Fund in accordance with
its Charter. 

  
 4 

 Section 1.24—Investment Funds 
 Investment Funds shall mean the separate funds established within the Trust in accordance with Article VI. 
 Section 1.25—Leased Employee 
 Leased Employee shall mean any individual (other
than an Employee of the Company or Affiliated Company) who, pursuant to an agreement between the Company or Affiliated Company and any other person (“leasing organization”), has performed services for the Company or an Affiliated Company
(or for the Company or an Affiliated Company and related persons determined in accordance with Code Section 414(n)(6)) on a substantially full-time basis for a period of at least one year, and such services are performed under the primary
direction or control by the Company or Affiliated Company. A person who becomes a Leased Employee (determined without regard to the one year service requirement) shall be deemed to be an Employee for the purpose of eligibility to participate and
vesting at the time the individual first begins performing service for the Company or an Affiliated Company. An individual covered by a money purchase pension plan providing a non-integrated employer contribution of at least ten percent
(10%) of compensation for the Plan Year, immediate participation, and full and immediate vesting, shall not be treated as a Leased Employee; provided that Leased Employees (determined without regard to this sentence) do not constitute more than
twenty percent (20%) of the non-highly compensated work force of the Company and Affiliated Companies. Leased Employees are not eligible to participate in the Plan. 
 Section 1.26—Member 
 Member shall mean any person included in the membership of
the Plan as provided in Article II. 
 Section 1.27—Non-Highly Compensated Employee 

Non-Highly Compensated Employee shall mean any Employee who is not a Highly Compensated Employee. 

Section 1.28—Participating Employer 
 Participating Employer shall mean the Company or any Affiliated Company that adopts the Plan. An Affiliated Company will be deemed to have adopted the Plan by making contributions to the Plan. Any
Affiliated Company that adopts the Plan thereby agrees to all of the terms and conditions of the Plan including Section 16.10. 

Section 1.29—Plan 
 Plan shall
mean the Energizer Holdings, Inc. Savings Investment Plan, as set forth in this document and as hereafter amended from time to time. 

Section 1.30—Plan Administrator 

Plan Administrator shall mean the Administrative Committee. 
 Section 1.31—Plan Year 
 Plan Year shall mean the twelve consecutive month period
commencing on January 1 each year and ending the following December 31. 
 Section 1.32 – Playtex Merged Plan Account

 Playtex Merged Plan Account shall mean the account of a Member who had an account under any Playtex Plans that were merged into this Plan
effective as of the close of December 31, 2007. 

  
 5 

 Section 1.33—Playtex Plans 
 Playtex Plans shall mean the following plans sponsored by Playtex Products, Inc. or any of its subsidiaries entities on December 31, 2007: Playtex Profit-Sharing Retirement Plan (“Playtex
Retirement Plan”), Playtex Products, Inc. Hourly Employees’ Retirement Plan (“Playtex Hourly Plan”), Playtex Ohio Hourly Employees Retirement and Savings Plan (“Playtex Ohio Plan”), and the Tanning Research
Laboratories, Inc. Profit Sharing and Retirement Savings Plan (“HT Plan”). 
 Section 1.34—Ralston SIP 

Ralston SIP shall mean the Ralston Purina Company Savings Investment Plan as in effect on March 31, 2000. 

Section 1.35—Retirement 

Retirement shall mean the date of a Member’s Termination of Employment on or after the date such Member attains age fifty-five (55) years.

 Section 1.36—Rollover Account 
 Rollover Account shall mean that portion of the Trust Fund that, with respect to any Member, is attributable to Rollover Contributions made to the Trust by the Employee in accordance with
Section 16.14 of the Plan, and any investment earnings and gains or losses thereon. 
 Section 1.37—Spouse 

Spouse shall mean the individual to whom a Member is lawfully married at the time benefit payments to the Member from the Plan commence, or in the case of
a Member who dies before such time, the person to whom the Member is lawfully married on the date of death of the Member; provided, however, that a former spouse shall be treated as the Spouse and a current spouse shall not be treated as the Spouse
to the extent provided under a qualified domestic relations order (as described in Code Section 414(p)). 

Section 1.38—Termination of Employment 
 Termination of Employment shall mean separation from the employment of the Company and all Affiliated Companies for any reason, including, but not limited to, Retirement, death, Disability, resignation or
dismissal by the Company and Affiliated Companies; provided, however, that a transfer of employment between the Company and an Affiliated Company or between Affiliated Companies, transfer of employment from Covered Service to uncovered Service, and
transfer from common law employment status to Leased Employee status shall not be deemed to be a Termination of Employment. Notwithstanding the foregoing, an Employee who has been placed on inactive status for a twelve consecutive month period shall
be treated as having incurred a Termination of Employment; provided, however, if a definite date has been established at which time the Employee is expected to return to Covered Service, then the person shall not be deemed to have incurred a
Termination of Employment. With respect to any leave of absence or any period of service in the Armed Forces of the United States (“Armed Forces”), Article III shall govern. 
 Section 1.39—Temporary Employee 
 Temporary Employee shall mean an Employee who is
hired to (i) complete a special project of limited duration, or (ii) fill the vacancy of an Employee who is on a leave of absence. 

Section 1.40—Trust Agreement 

Trust Agreement shall mean the Trust Agreement made and entered into by the Investment Committee with the Trustee pursuant to the Plan, as such Trust
Agreement may be amended from time to time. 

  
 6 

 Section 1.41—Trust Fund 
 Trust Fund shall mean the fund established for the purpose of the Plan, to be held in trust by the Trustee, from which Trust Fund benefits under the Plan are to be paid. 

Section 1.42—Trustee 
 Trustee
shall mean a trustee or trustees at any time designated by the Investment Committee to hold, invest and disburse the assets of the Plan in accordance with the terms of the Trust Agreement. 
 Section 1.43—Valuation Date 
 Valuation Date shall mean the date reflecting the
effective date on which a transaction was implemented at the Closing Price established for that date. 
 Section 1.44—Withdrawal
Valuation Date 
 Withdrawal Valuation Date shall mean, with respect to a Member, the Valuation Date coinciding with, or immediately
following, the date on which his or her request for a withdrawal under the Plan is effected by the Plan Administrator.  

ARTICLE II 

Membership 

Section 2.01—Eligibility 
 Each
Employee who was a Member on January 1, 2010 shall continue to participate in the Plan, as amended. Each other Employee shall be eligible to become a Member on the date he or she is in Covered Service. 

Section 2.02—Membership Application 
 An Employee who satisfies the requirements of Section 2.01 may become a Member by electing in such a manner as prescribed by the Plan Administrator the amount of compensation he or she wishes to
contribute to the Plan, the Investment Fund(s) in which his or her account will be invested and his or her Beneficiary. Participation in the Plan is voluntary. Employee elections to make contributions to the Plan shall become effective as soon as
administratively feasible. Except for occasional, bona fide administrative considerations, contributions made pursuant to an election or deemed election cannot precede the earlier of (a) the performance of services relating to the contribution
and (b) when the Compensation that is subject to the election or deemed election would be currently available to the Participant in the absence of such election or deemed election. 
 An Employee who first becomes eligible to participate in the Plan on or after January 1 2010, shall be deemed to have elected to make Before-Tax Matched Contributions equal to six percent
(6%) of Compensation for the payroll period effective as of the date on which the Employee is first eligible to participate in the Plan, unless such Employee files a written election with the Plan Administrator on or before the date such
Employee becomes a Member. Before the date the eligible Employee becomes a Member, the eligible Employee shall be given notice of such deemed election and a reasonable opportunity to change the percentage of Compensation (including zero percent
(0%)) to be contributed to the Plan as Before-Tax Matched Contributions. 
 An election or deemed election under this Section 2.02 shall
continue in effect until the Member revokes or amends such election. A Member may increase, decrease or completely discontinue making contributions by delivering a new election to the Plan Administrator, which shall be effective as soon as
administratively feasible following receipt of such election. 

  
 7 

 Section 2.03—Special Rule for Change in Job Classification 

If a Member remains an Employee but ceases to be employed in Covered Service, such Member shall not be permitted to have amounts of his or her
Compensation contributed to the Plan while he or she is not in Covered Service. 
 Section 2.04—Rehired Former Member

 A Member who has a Termination of Employment and who is rehired in Covered Service by the Company or a Participating Employer shall again
be eligible to be a Member on the date of such reemployment. 
 Section 2.05—Rehired Former Employee 

An Employee who has a Termination of Employment, who was not eligible to be a Member on the date of such Termination of Employment, and who is rehired by
the Company or Participating Employer in Covered Service shall be eligible to become a Member on the first day of such reemployment. 
 ARTICLE III 
 Service 

Section 3.01—Absence in Military Service 
 If an Employee shall have been absent from the service of the Company or Affiliated Company because of service in the Armed Forces of the United States and if he or she shall have returned to the service
of the Company or Affiliated Company within the period during which re-employment rights are extended by law, such absence shall not count as a period of severance. Any period of such absence which is not otherwise included in his or her Period of
Service shall be so included. Notwithstanding any provision of this plan to the contrary, contributions, benefits and service credit with respect to qualified military service will be provided in accordance with Code Section 414(u). The Plan
shall not be treated as failing to meet the requirements of any provision described in Code Section 414(u)(1)(C) by reason of any contribution or benefit which is based on a differential wage payment (as described in Code
Section 3401(h)(2)). The preceding sentence shall apply only if all Employees who are performing service in the uniformed services (as described in Code Section 3401(h)(2)(A)) are entitled to receive differential wage payments on
reasonably equivalent terms and, if eligible to participate in a retirement plan maintained by the Company or an Affiliated Company, to make contributions based on the payments on reasonably equivalent terms (taking into account Code Sections
410(b)(3), (4), and (5)). 
 If a Member dies while performing qualified military service, the survivors of the Member are entitled to any
additional benefits (other than benefit accruals relating to the period of qualified military service) provided under the Plan as if the Member had resumed employment and then experienced a Termination from Employment on account of death.

 An individual performing service in the uniformed services (as described in Code Section 3401(h)(2)(A)) for a period of more than thirty
(30) days receiving a differential wage payment from a Participating Employer shall be treated as an Employee of such Participating Employer, and differential wage payment (as described in Code Section 3401(h)(2)) shall be treated as
Compensation. Notwithstanding the preceding sentence, a Member shall be treated as having experienced a Termination of Employment during any period such Member is performing service in the uniformed services. In the event that a

  
 8 

 
Member elects to receive a distribution by reason of Termination of Employment pursuant to this paragraph, such Participant may not make Before-Tax Contributions, After-Tax Contributions or
catch-up contributions during the six-month period beginning on the date of the distribution. 
 Section 3.02—Approved Leave of
Absence 
 A period during which an Employee is on a leave of absence approved by the Company not otherwise included in a Period of Service
shall, if the Plan Administrator so determines, be so included under rules established by the Plan Administrator uniformly applicable to all Employees similarly situated. 
 Section 3.03—Family Medical Leave Act 
 If an Employee is absent from the service
of the Company or Affiliated Company because of a leave of absence which qualifies as a protected leave of absence under the Family Medical Leave Act, such absence shall be included in the Period of Service. 

Section 3.04—Period of Service 

The Period of Service of an Employee means the period beginning on an Employment Commencement Date of an Employee and ending on the Severance from Service
Date of the Employee that next follows such an Employment Commencement Date. Nonconsecutive Periods of Service shall be aggregated and 365 days of service shall equal a whole year of service. If an Employee performs an Hour of Service within twelve
(12) months of a Severance from Service Date, the Employee’s Period of Service shall include the time which elapsed between the date of such a Severance from Service Date and such date of re-employment. 

Additionally, service with (a) Ralston Purina Company or any Ralston Affiliated Company, as defined in the Ralston SIP (the “Ralston
Group”), shall constitute Period of Service for all Employees who were employees of any member of the Ralston Group, including the Company or any Affiliated Company, on March 31, 2000, and who are Employees of the Company or any Affiliated
Company on March 31, 2001 and during the period April 1, 2000 through March 31, 2001 are continuously employed by the Ralston Group, and/or the Company or any Affiliated Company, (b) Gates Energy Products, Inc., for all employees
who were employed by Gates Energy Products, Inc. on August 27, 1993, who became Employees of Eveready Battery Company, Inc. on August 28, 1993, (c) Warner-Lambert LLC and any affiliated company of Warner-Lambert LLC
(“Warner-Lambert”) before March 29, 2003 for an Employee who was an employee of Warner-Lambert before March 29, 2003 whether or not such Employee was an employee of Warner-Lambert on March 28, 2003 and who became an Employee
of the Company on or after March 29, 2003, and (d) Playtex Products, Inc. or any affiliated company of Playtex Products, Inc (“Playtex”) before October 1, 2007 for any Employee who was an employee of Playtex on
September 30, 2007 and became an Employee without intervening employment, shall be included in an Employee’s Period of Service. 

Section 3.05—Service Definitions 
 (a) “Employment Commencement Date” means the date the Employee first performs an Hour of Service; provided that, if an Employee incurs a Break in Service of at least one year, the Employment
Commencement Date of the Employee shall be the first day on which the Employee performs an Hour of Service after incurring such a Break in Service. 
 (b) “Break in Service” means the period following a Severance from Service Date extending until the Employee again completes an Hour of Service. 

  
 9 

 (c) “Hour of Service” means an hour for which an Employee is paid, or entitled to
payment, for the performance of duties for the Company or any Affiliated Company. 
 (d) “Severance from Service
Date” means the earlier of (1) the date the Employee retires, dies, resigns or is discharged, or (2) the first anniversary of the date on which the Employee begins a period of absence, with or without pay, with the Company and all
Affiliated Companies, subject, however, to the provisions of Section 1.38. 
 ARTICLE IV 

Contributions 

Section 4.01—Before-Tax Matched Contributions 
 (a) Each Member may elect to reduce his or her Compensation in any amount from one percent (1%) to six percent (6%) [in one percent (1%) increments] of his or her Compensation for each
payroll period subject to the provisions set forth in Sections 4.01(b), 4.05, 4.07, and Article XVIII. 
 (b) Notwithstanding
the foregoing, a Member who receives a hardship withdrawal of his or her Before-Tax Matched Contributions in accordance with Section 11.02 shall not be permitted to make Before-Tax Matched Contributions during the six-month period immediately
following such withdrawal. 
 Section 4.02—Company Matching Contributions 

The Company and/or Participating Employer shall contribute to the Plan for each payroll period on behalf of each Member who elects to make Before-Tax
Matched Contributions an amount equal to fifty percent (50%) of the aggregate Before-Tax Matched Contributions made by such Member for such payroll period. Anything contained herein to the contrary notwithstanding, the Company and/or
Participating Employer shall not make a Company Matching Contribution under this Section 4.02 with respect to catch-up contributions made by a Member in accordance with Section 4.03(b) and Before-Tax Matched Contributions and Before-Tax
Unmatched Contributions that are recharacterized as catch-up contributions in accordance with Sections 4.05 and 4.07; provided however, that a Company Matching Contribution shall be made with respect to a Before-Tax Matched Contribution that is
recharacterized as a catch-up contribution in accordance with Section 4.05 or 4.07 to the extent such Member’s Before-Tax Matched Contributions do not exceed the maximum Before-Tax Matched Contribution rate of six percent (6%) of his
or her Compensation in accordance with Section 4.01(a). 
 Anything contained herein to the contrary notwithstanding, in no event shall the
Company Matching Contributions made on behalf of a Member for a Plan Year be less than an amount equal to fifty percent (50%) of the aggregate Before-Tax Matched Contributions made by such Member for such Plan Year (“True-Up Matching
Contributions”); provided, however, the following Members shall not be entitled to receive such True-Up Matching Contributions (a) a Member who is also participating in the Energizer Holdings, Inc. Executive Savings Investment Plan during
such Plan Year, (b) a Member who is not on the payroll of a Participating Employer on the last day of the Plan Year, or (c) a Member for whom the True-Up Matching Contributions for such Plan Year is $5.00 or less. 

The Company Matching Contributions shall be allocated to each Member’s Account in proportion to the allocation percentage of each Investment Fund
that the Member has elected for the investment of his or her Before-Tax Investment Account. 

  
 10 

 Section 4.03—Before-Tax Unmatched Contributions 

(a) A Member who has elected pursuant to Section 4.01(a) to contribute the maximum Before-Tax Matched Contribution rate of six
percent (6%) may elect to reduce further his or her Compensation by an additional amount of between one percent (1%) and forty-four percent (44%) [in one percent (1%) increments] of his or her Compensation for each payroll
period, subject to the provisions set forth in Sections 4.03(c), 4.05, 4.07 and Article XVIII. 
 (b) A Member who has
(i) elected pursuant to Section 4.01(a) to contribute the maximum Before-Tax Matched Contribution rate of six percent (6%) of Compensation, (ii) elected pursuant to Section 4.03(a) to contribute the maximum Before-Tax
Unmatched Contribution rate of forty-four percent (44%) of Compensation, and (iii) attained age 50 or will attain age 50 before the close of a Plan Year shall be eligible to make additional Before-Tax Unmatched Contributions, called
catch-up contributions, in accordance with and subject to the limitations of Code Section 414(v). Such catch-up contributions shall not be taken into account for purposes of the provisions of the Plan implementing the required limitations of
Code Sections 402(g) and 415. The Plan shall not be treated as failing to satisfy the provisions of the Plan implementing the requirements of Code Section 401(k)(3), 401(k)(11), 401(k)(12), 410(b), or 416, as applicable, by reason of the making
of such catch-up contributions. 
 (c) Notwithstanding the foregoing, a Member who receives a hardship withdrawal of his or her
Before-Tax Unmatched Contributions in accordance with Section 11.02 shall not be permitted to make Before-Tax Unmatched Contributions during the six-month period immediately following such withdrawal. 

Section 4.04—After-Tax Contributions 
 (a) A Member may elect to make After-Tax Contributions by authorizing additional payroll deductions of After-Tax Contributions of between one percent (1%) and twenty-two percent (22%) [in one
percent (1%) increments] of his or her Compensation. A Member’s election to make After-Tax Contributions may be made in addition to any Before-Tax Matched Contributions and/or Before-Tax Unmatched Contributions elected by the Member, or
may be made in lieu of such other contributions, subject to the provisions set forth in Section 4.06 and Article XVIII. 
 The Plan Administrator may implement rules limiting the After-Tax Contributions which may be made on behalf of Highly Compensated Employees so that these limits are satisfied. 

(b) Notwithstanding the foregoing, a Member may not elect to make After-Tax Contributions during the six-month period immediately
following the distribution of any hardship withdrawal of his or her Before-Tax Contribution Account or his or her Company Matching Contribution Account, in accordance with Section 11.02. 
 Section 4.05—Limits on Before-Tax Contributions 
 The sum of Before-Tax Matched
Contributions and Before-Tax Unmatched Contributions must satisfy the actual deferral percentage test of Code Section 401(k)(3). Catch-up contributions made pursuant to Section 4.03(b) of the Plan are not treated as Before-Tax Matched
Contributions or Before-Tax Unmatched Contributions for purposes of this Section 4.05 of the Plan. Such tests shall be applied by using the current year method. 

  
 11 

 (a) Actual Deferral Percentage Test. The actual deferral percentage for a Plan Year
for Members who are Highly Compensated Employees for each Plan Year and the actual deferral percentage for Members who were Non-Highly Compensated Employees for the current Plan Year must satisfy one of the following tests: 

(1) the actual deferral percentage for a Plan Year for Members who are Highly Compensated Employees for the Plan Year shall not exceed
the current year’s actual deferral percentage for Members who were Non-Highly Compensated Employees for the applicable Plan Year multiplied by 1.25; or 
 (2) the actual deferral percentage for a Plan Year for Members who are Highly Compensated Employees for the Plan Year shall not exceed the current year’s actual deferral percentage for Members who
were Non-Highly Compensated Employees for the applicable Plan Year multiplied by 2.0, provided that the actual deferral percentage for Members who are Highly Compensated Employees does not exceed the actual deferral percentage for Members who were
Non-Highly Compensated Employees in the applicable Plan Year by more than 2 percentage points. 
 The Company can elect to use
prior year testing for a Plan Year only if the Plan has used current year testing for each of the preceding five (5) Plan Years or if, as a result of a merger or acquisition described in Code Section 410(b)(6)(C)(i), the Company maintains
both a plan using prior year testing and a plan using current year testing and the change is made within the transition period described in Code Section 410(b)(6)(C)(ii). 
 A Member is a Highly Compensated Employee for a particular Plan Year if he or she meets the definition of a Highly Compensated Employee in effect for that Plan Year. Similarly, a Member is a Non-Highly
Compensated Employee for a particular Plan Year if he or she does not meet the definition of a Highly Compensated Employee in effect for that Plan Year. 
 The actual deferral percentage for any Member who is a Highly Compensated Employee for the Plan Year and who is eligible to have Before-Tax Matched Contributions and Before-Tax Unmatched Contributions
allocated to his or her accounts under two (2) or more arrangements described in Code Section 401(k) that are maintained by a Participating Employer, shall be determined as if such Before-Tax Matched Contributions and Before-Tax Unmatched
Contributions were made under a single arrangement. If a Highly Compensated Employee participates in two (2) or more arrangements described in Code Section 401(k) of a Participating Employer that have different plan years, all Before-Tax
Matched Contributions and Before-Tax Unmatched Contributions made during the plan year under all such arrangements shall be aggregated. Notwithstanding the foregoing, certain plans shall be treated as separate if mandatorily disaggregated under
regulations under Code Section 401(k). 
 In the event this Plan satisfies the requirements of Code Section 401(k),
401(a)(4), or 410(b) only if aggregated with one or more other plans, or if one or more other plans satisfy the requirements of such Sections of the Code only if aggregated with this Plan, then this section shall be applied by determining the actual
deferral percentage of Members as if all such plans were a single plan. Plans may be aggregated in order to satisfy Code Section 401(k) only if they have the same plan year and use the same actual deferral percentage testing method. 

For purposes of determining the actual deferral percentage test, Before-Tax Matched Contributions and Before-Tax Unmatched Contributions
must be made before the end of the 12-month period immediately following the Plan Year to which the contributions relate. 

  
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 For purposes of this subsection (a), the following definition shall apply: actual deferral
percentage means, for a specified group of Members (either Highly Compensated Employees or Non-Highly Compensated Employees) for a Plan Year, the average of the ratios (calculated separately for each Member in such group) of (i) the amount of
employer contributions actually paid over to the trust on behalf of such Member for the Plan Year to (ii) the Member’s compensation for such Plan Year. Participating Employer contributions on behalf of any Member shall include: any
Before-Tax Matched Contributions and Before-Tax Unmatched Contributions (other than catch-up contributions) made pursuant to the Member’s election or deemed election (including excess deferrals as defined in Reg. Section 1.402(g)-1(a) of
Highly Compensated Employees), but excluding (A) excess deferrals as defined in Reg. Section 1.402(g)-1(a) of Non-Highly Compensated Employees that arise solely from Before-Tax Matched Contributions and Before-Tax Unmatched Contributions
made under the Plan or plans of this Participating Employer and (B) Before-Tax Matched Contributions and Before-Tax Unmatched Contributions that are taken into account in the actual contribution percentage test (provided the actual deferral
percentage test is satisfied both with and without exclusion of these Before-Tax Contributions). For purposes of computing actual deferral percentages, an Employee who would be a Member but for the failure to make Before-Tax Matched Contributions
and Before-Tax Unmatched Contributions shall be treated as a Member on whose behalf no Before-Tax Matched Contributions and Before-Tax Unmatched Contributions are made. 
 Before-Tax Matched Contributions and Before-Tax Unmatched Contributions of Highly Compensated Employees in excess of the amount permitted by the actual deferral percentage test are hereby referred to as
“Excess Before-Tax Contributions.” 
 (b) Correction of Excess Before-Tax Contributions. The Plan Administrator
may, in its sole discretion, apply any of the corrective devices described in this Section 4.05(b) in any combination and in any order. The Plan Administrator may, in its sole discretion, reduce the amount of Before-Tax Matched Contributions or
Before-Tax Unmatched Contributions that any Highly Compensated Employee may contribute for the Plan Year to avoid Excess Before-Tax Contributions. 
 Before-Tax Matched Contributions and Before-Tax Unmatched Contributions otherwise classified as Excess Before-Tax Contributions shall be treated as catch-up contributions for Members eligible to make
catch-up contributions in accordance with Section 4.03(b), subject to the limitations of that section. 
 Alternately, the
Participating Employer may, in the Company’s sole discretion, make additional Company Matching Contributions on behalf of Non-Highly Compensated Employees up to such an amount that, when allocated to such Members’ Accounts, the resulting
allocations will satisfy the actual deferral percentage test. Such additional Company Matching Contributions shall be allocated to the Members Before-Tax Investment Account of the last day of the Plan Year for which the contributions are made.

 Alternately, the Plan Administrator may, in its sole discretion, specify that a portion of the Company Matching Contributions
allocated to the Accounts of Non-Highly Compensated Employees be designated as a qualified matching contribution to the extent required to satisfy the actual deferral percentage test of Code Section 401(k)(3) pursuant to Reg.
Section 1.401(k)-2(b)(3); provided that, such a designation satisfies the nondiscrimination requirements of Reg. Sections 1.401(k) and 1.401(m). The portion of a Company Matching Contribution that is designated as a qualified matching
contribution pursuant to the preceding sentence shall be allocated to the Member’s Before-Tax Investment Account as of the last day of the Plan Year for which the contribution was made. 

  
 13 

 Alternately, the Plan Administrator may, in its sole discretion,
recharacterize Before-Tax Matched Contributions or Before-Tax Unmatched Contributions as nondeductible contributions in accordance with Reg. Section 1.401(k)-2(b) so that the resulting actual deferral percentage test will meet the requirements
of Code Section 401(k)(3), provided that such a designation satisfies the requirements of Reg. Section 1.401(k)-1(b)(4). Recharacterization must occur no later than two and one-half (2 1/2) months after the last day of the Plan Year in which such Excess Before-Tax Contributions arose. Any Company Matching Contributions attributable to such recharacterized Excess Before-Tax
Contributions shall be forfeited. Reg. 
Section 1.401(k)-2(b)(3) and Reg. Section 1.401(k)-2(b)(4) are hereby incorporated by reference. 
 In the event the actual deferral percentage test of Code Section 401(k)(3) is not satisfied after application of such corrective devices for a Plan Year, the Plan Administrator may, in its sole
discretion, direct a refund of the Excess Before-Tax Contributions and income attributable thereto at such times and in such manner as is permitted by the Code and Treasury Regulations. The aggregate dollar amount of such Excess Before-Tax
Contributions shall be determined by reducing the Before-Tax Matched Contributions or Before-Tax Unmatched Contributions of Highly Compensated Employees beginning with the Highly Compensated Employee with the highest actual deferral ratio in
accordance with Reg. Section 1.401(k)-2(b)(2)(ii). The Before-Tax Matched Contributions or Before-Tax Unmatched Contributions of the Highly Compensated Employee with the highest actual deferral ratio shall be reduced to the extent necessary to
reduce the actual deferral ratio of such Member so that the actual deferral percentage test is satisfied or so that such Member’s actual deferral ratio is equal to the actual deferral ratio of the Highly Compensated Employee with the next
highest actual deferral ratio. This reduction shall be repeated until the actual deferral percentage test is satisfied. The aggregate dollar amount of Excess Before-Tax Contributions shall be equal to the total amount of such Before-Tax Matched
Contribution and the Before-Tax Unmatched Contribution reductions. The aggregate amount of Excess Before-Tax Contributions so determined shall be distributed to Highly Compensated Employees using the “dollar-leveling method.” Under this
method, Excess Before-Tax Contributions shall be distributed first to the Highly Compensated Employee with the highest dollar amount of Before-Tax Matched Contributions and Before-Tax Unmatched Contributions so that such Member’s Before-Tax
Matched Contributions and Before Tax Unmatched Contributions equal the dollar amount of the Before-Tax Matched Contributions and Before-Tax Unmatched Contributions of the Highly Compensated Employee with the next highest dollar amount of Before-Tax
Matched Contributions and Before-Tax Unmatched Contributions. Any distributions pursuant to this paragraph shall first be made from Before-Tax Unmatched Contributions (until such Highly Compensated Employee has no Before-Tax Unmatched
Contributions). If the total amount distributed is less than the aggregate amount of Excess Before-Tax Contributions, this method shall be repeated until the aggregate amount of Excess Before-Tax Contributions has been distributed. After such
refunds are made, the Plan shall be treated as meeting the actual deferral percentage test regardless of whether the Plan would satisfy such actual deferral percentage test if recalculated. Any Company Matching Contributions that were in fact
already made on behalf of such a Member that are attributable to such refunded Excess Before-Tax Contributions shall be forfeited. Income attributable to any refund shall be determined in accordance with a method that satisfies Reg.
Section 1.401(k)-2(b)(2)(iv), but excluding any and all references to gap period income or the payment thereof with respect to the correction of any Excess Before-Tax Contributions. 

To the extent that this Section 4.05 does not contain all rules in Code Sections 401(k) and 414(v) and the regulations thereunder
(including regulations issued in the future) that apply for this purpose, such rules are incorporated herein by reference and shall supplement this Section 4.05. 
 Section 4.06—Limits on Company Matching Contributions 
 The Company Matching
Contributions and After-Tax Contributions must satisfy the actual contribution percentage test of Code Section 401(m)(2). Code Section 401(m)(2) and the regulations thereunder (including regulations issued in the future) are hereby
incorporated by reference. Such tests shall be applied by using the current year method. 

  
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 (a) Actual Contribution Percentage Test. The actual contribution percentage for a
Plan Year for Members who are Highly Compensated Employees for each Plan Year and the actual contribution percentage for Members who were Non-Highly Compensated Employees for the current Plan Year must satisfy one of the following tests: 

(1) the actual contribution percentage for a Plan Year for Members who are Highly Compensated Employees for the Plan Year shall not
exceed the current year’s actual contribution percentage for Members who were Non-Highly Compensated Employees for the applicable Plan Year multiplied by 1.25; or 
 (2) the actual contribution percentage for a Plan Year for Members who are Highly Compensated Employees for the Plan Year shall not exceed the current year’s actual contribution percentage for
Members who were Non-Highly Compensated Employees for the applicable Plan Year multiplied by 2.0, provided that the actual contribution percentage for Members who are Highly Compensated Employees does not exceed the actual contribution percentage
for Members who were Non-Highly Compensated Employees in the applicable Plan Year by more than 2 percentage points. 
 The
Company can elect to use prior year testing for a Plan Year only if the Plan has used current year testing for each of the preceding five (5) Plan Years or if, as a result of a merger or acquisition described in Code
Section 410(b)(6)(C)(i), the Company maintains both a plan using prior year testing and a plan using current year testing and the change is made within the transition period described in Code Section 410(b)(6)(C)(ii). 

A Member is a Highly Compensated Employee for a particular Plan Year if he or she meets the definition of a Highly Compensated Employee
in effect for that Plan Year. Similarly, a Member is a Non-Highly Compensated Employee for a particular Plan Year if he or she does not meet the definition of a Highly Compensated Employee in effect for that Plan Year. 

The contribution percentage (as defined below) for any Member who is a Highly Compensated Employee for the Plan Year and who is eligible
to have contribution percentage amounts (as defined below) allocated to his or her accounts under two (2) or more plans described in Code Section 401(a) or arrangements described in Code Section 401(k) that are maintained by a
Participating Employer, shall be determined as if the total of such contribution percentage amounts were made under each plan and arrangement. If a Highly Compensated Employee participates in two (2) or more such plans or arrangements that have
different plan years, all contribution percentage amounts made during the Plan Year under all such plans and arrangements shall be aggregated. Notwithstanding the foregoing, certain plans shall be treated as separate if mandatorily disaggregated
under regulations under Code Section 401(m). 
 In the event this Plan satisfies the requirements of Code
Section 401(m), 401(a)(4), or 410(b) only if aggregated with one or more other plans, or if one or more other plans satisfy the requirements of such Code Sections only if aggregated with this Plan, then this section shall be applied by
determining the actual contribution percentage of Members as if all such plans were a single plan. Plans may be aggregated in order to satisfy Code Section 401(m) only if they have the same Plan Year and use the same actual contribution
percentage testing method. 

  
 15 

 For purposes of the actual contribution percentage test, After-Tax Contributions are
considered to have been made for the Plan Year for which contributed to the trust. Company Matching Contributions will be considered made for a Plan Year if made no later than the end of the 12-month period beginning on the day after the close of
the Plan Year. 
 For purposes of this subsection (a), the following definitions shall apply: 

(i) “Actual Contribution Percentage” means, for a specified group of Members (either Highly Compensated Employees or
Non-Highly Compensated Employees) for a Plan Year, the average of the contribution percentages of the eligible participants in the group. 
 (ii) “Contribution percentage” means the ratio (expressed as a percentage) of the Member’s contribution percentage amounts (as defined in subparagraph (iii) below) to the Member’s
compensation for the Plan Year. 
 (iii) “Contribution percentage amounts” shall mean the sum of employee
contributions (as defined in subparagraph (v) below) and Company Matching Contributions made under the Plan on behalf of the Member for the Plan Year. Such contribution percentage amounts shall not include Company Matching Contributions that
are forfeited either to correct Excess Aggregate Contributions or because the contributions to which they relate are excess deferrals as defined in Reg. Section 1.402(g)-1(a), Excess Before-Tax Contributions, or Excess Aggregate Contributions.
The Company also may elect to use Before-Tax Matched Contributions or Before-Tax Unmatched Contributions in the contribution percentage amounts so long as the actual deferral percentage test is met before the Before-Tax Matched Contributions or
Before-Tax Unmatched Contributions are used in the actual contribution percentage test and continues to be met following the exclusion of those Before-Tax Matched Contributions or Before-Tax Unmatched Contraction that are used to meet the actual
contribution percentage test. 
 (iv) “Eligible participant” means any Employee who is eligible to make employee
contributions (as defined in subparagraph (v) below) or Before-Tax Matched Contributions or Before-Tax Unmatched Contributions (if the Participating Employer takes such contributions into account in the calculation of the contribution
percentage), or to receive a Company Matching Contribution (including forfeitures). If an employee contribution is required as a condition of participation in the Plan, any Employee who would be a Member in the Plan if such employee made such a
contribution shall be treated as an eligible participant on behalf of whom no employee contributions are made. 
 (v)
“Employee contribution” means any contribution (other than Roth 401(k) contributions, if any) made to the Plan by or on behalf of a Member that is included in the Member’s gross income in the year in which made and that is maintained
under a separate account to which earnings and losses are allocated. 
 (vi) “Matching Contribution” means a
Participating Employer contribution made to this or any other defined contribution plan on behalf of a Member on account of an employee contribution made by such Member, or on account of a Member’s Before-Tax Matched Contributions, under a plan
maintained by a Participating Employer. 
 Company Matching Contributions and After-Tax Contributions allocable to Highly
Compensated Employees in excess of the actual contribution percentage test of Code Section 401(m)(2) are hereby referred to as “Excess Aggregate Contributions.” 

  
 16 

 (b) Correction of Excess Aggregate Contributions. A Participating Employer may, in
its sole discretion, make an additional Company Matching Contribution on behalf of Non-Highly Compensated Employees, which shall be allocated in proportion to the sum of their Before-Tax Matched Contributions up to an amount necessary to satisfy the
actual contribution percentage test of Code Section 401(m)(2). 
 Alternately, the Plan Administrator may, in its sole
discretion, specify that all or any part of the Before-Tax Matched Contributions and Before-Tax Unmatched Contributions of Non-Highly Compensated Employees may be treated as a Company Matching Contribution in accordance with Reg.
Section 1.401(m)-2(a)(6) to the extent required to satisfy the actual contribution percentage test of Code Section 401(m)(2). Reg. Section 1.401(m)-2(a)(6) is hereby incorporated by reference. 

The Plan Administrator may, in its sole discretion, direct a refund of the Excess Aggregate Contributions and any income attributable
thereto to the extent vested and forfeit to the extent not vested. The aggregate dollar amount of such Excess Company Matching Contributions shall be determined by first reducing the percentage of After-Tax Contributions, if any, and then Company
Matching Contributions and recharacterized Before-Tax Unmatched Contributions and Before-Tax Matched Contributions, if any, of Highly Compensated Employees beginning with the individuals with the highest contribution percentage, all only to the
extent necessary to cause the actual contribution ratio to equal the highest permitted actual contribution ratio, in accordance with Reg. Section 1.401(m)-2(b)(2)(ii). The aggregate amount so determined shall be forfeited or distributed to
Highly Compensated Employees on the basis of the amount of contributions by each such Member, reducing the highest dollar amount of the respective Highly Compensated Employee as necessary to refund or forfeit such aggregate amount in accordance with
Reg. Section 1.401(m)-2(b)(2)(iii). After such refunds and forfeitures are made, the Plan is treated as meeting the actual contribution percentage test regardless of whether the Plan would satisfy such actual contribution percentage test if
recalculated. Income attributable to any distribution shall be determined in accordance with a method that satisfies Reg. Section 1.401(m)-2(b)(2)(iv), but excluding any and all references to gap period income or the payment thereof with
respect to the correction of any Excess Aggregate Contributions. Such distributions shall be made within twelve (12) months after the close of the Plan Year for which such Excess Aggregate Contributions were made and shall be made on the basis
of the respective portions of such amounts attributable to each Highly Compensated Employee. 
 The Plan Administrator, in its
sole discretion, may apply the corrective devices described in this Section 4.06 in any combination and in any order. 

Section 4.07—Limitation of Contributions 
 The sum of Before-Tax Matched Contributions and Before-Tax Unmatched Contributions made by a Member for a calendar year shall be limited to the amount specified in Code Section 402(g), as adjusted
annually for cost-of-living increases in accordance with Code Section 415(d) ($16,500 for 2009). Contributions shall be further limited as described in Article XIX. For purposes of this Section 4.07, Before-Tax Matched Contributions and
Before-Tax Unmatched Contributions shall not include catch-up contributions, including Before-Tax Matched Contributions and Before-Tax Unmatched Contributions that are recharacterized as catch-up contributions, as specified in Section 4.05. To
the extent that this Section 4.07 does not contain all rules in Code Sections 402(g) and 414(v) (and the regulations thereunder) that apply for this purpose, such rules are incorporated herein by reference and shall supplement this
Section 4.07. 

  
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 If a Member does not participate in any other plan in which before-tax contributions are made for the Member
whether or not sponsored by the Company or an Affiliated Company, if Before-Tax Matched Contributions and Before-Tax Unmatched Contributions in excess of the amount specified in the preceding paragraph are contributed to the Plan on behalf of a
Member, the Plan Administrator shall distribute such excess amount (any income attributable thereto) to the Member not later than the April 15 following the close of the Member’s tax year in which such excess amount was contributed.
Company Matching Contributions, if any, made on behalf of such Member that are attributable to the distributed amounts shall be forfeited. 
 If
a Member does participate in any other plan in which before-tax contributions are made for the Member, whether or not sponsored by the Company or an Affiliated Company, if the aggregate of all before-tax contributions to all plans on behalf of the
Member exceed the limit specified in Code Section 402(g)(1) and, if applicable, the catch-up contribution limit of Code Section 414(v), the Plan Administrator shall distribute the excess amount (and any income attributable thereto) that
the Member designates as attributable to Before-Tax Unmatched Contributions and Before-Tax Matched Contributions. No distribution shall be required under this paragraph, if the Member does not notify the Plan Administrator on or before March 1
of the calendar year following such excess of the amount of excess attributable to the Plan. Any such distribution shall be made by the first April 15 following the close of the Member’s tax year in which such excess amount was
contributed. 
 No amounts shall be distributed pursuant to this Section 4.07, to the extent such Before-Tax Matched Contributions or
Before-Tax Unmatched Contributions are recharacterized as catch-up contributions pursuant to Code Section 414(v) and the regulations thereunder. Any distribution of Before-Tax Matched Contributions or Before-Tax Unmatched Contributions shall be
made first from Before-Tax Unmatched Contributions, if any, and thereafter from Before-Tax Matched Contributions. 

Section 4.08—Transfer of Member Contributions 
 The Company and/or Participating Employer shall remit Before-Tax Matched Contributions, Before-Tax Unmatched Contributions and After-Tax Contributions of a Member to the Trustee as soon as practicable
after the date such contributions can reasonably be segregated from the general assets of the Company or the Participating Employer, but not more than the fifteenth (15th) business day following the end of the calendar month in which such contributions are withheld from the
Member’s Compensation. 
 Section 4.09—Change in Member Contributions 

Subject to the provisions of Sections 4.01, 4.03, and 4.04, a Member may change the amount of his or her Before-Tax Matched Contributions, Before-Tax
Unmatched Contributions and After-Tax Contributions by giving at least fifteen (15) days’ prior written notice to the Plan Administrator or such shorter period as the Plan Administrator may approve. Such change election shall become
effective no later than the first day of the first month following the date such written notice is timely furnished to the Plan Administrator. In addition, the Plan Administrator shall monitor the Before-Tax Matched Contributions, Before-Tax
Unmatched Contributions or After-Tax Contributions and may restrict the Before-Tax Matched Contributions, Before-Tax Unmatched Contributions and/or After-Tax Contributions at such times during a Plan Year and to such extent as it deems appropriate
to satisfy such limitations under the Code or the Plan. 
 Section 4.10—Suspension of Member Contributions 

(a) A Member may suspend his or her Before-Tax Matched Contributions, Before-Tax Unmatched Contributions and/or After-Tax Contributions on
his or her behalf at any time by giving at least fifteen (15) days’ prior written notice to the Plan Administrator, or such shorter period as the Plan Administrator may approve, in advance of the date on which such a suspension shall
become effective. The suspension shall become effective as soon as practicable after notification is received. During such period of suspension of Before-Tax Matched Contributions, no Company Matching Contributions shall be made on behalf of such
Member. 

  
 18 

 (b) A Member who has suspended his or her Before-Tax Matched Contributions, Before-Tax
Unmatched Contributions and/or After-Tax Contributions may elect to resume such contributions in accordance with Sections 4.01, 4.03 and 4.04 by notifying the Plan Administrator in writing at least fifteen (15) days in advance of the date on
which contributions are to resume, or such shorter period as the Plan Administrator may approve. Contributions shall resume effective as of the first payroll period immediately following the date such written notice to resume is timely furnished to
the Plan Administrator. 
 (c) No contributions may be made for a Member for any unpaid period of absence from service
including, but not limited to, absence due to sickness, approved leave of absence, or service in the Armed Forces. A Member for whom contributions under Sections 4.01, 4.03 and 4.04 have ceased because he or she is on an unpaid absence from service
shall again be eligible to have such contributions made on the date he or she returns to active service in Covered Service. 

(d) A Member for whom contributions under Sections 4.01, 4.03 and 4.04 have ceased because he or she is not in Covered Service but,
nevertheless, continues to be an Employee shall again be eligible to have such contributions made immediately following the date he or she again becomes employed in Covered Service and gives written notice to the Plan Administrator on the prescribed
form to resume such contributions. 
 ARTICLE V 
 ESOP Common Stock Fund 
 Section 5.01—The ESOP Common Stock Fund

 (a) The assets of the ESOP Common Stock Fund shall be invested primarily in Common Stock. 

(b) It is intended that the ESOP Common Stock Fund constitute an “employee stock ownership plan” within the meaning of Code
Section 4975(e)(7). 
 Section 5.02—Common Stock Dividends 

(a) Cash Dividends. Cash dividends paid with respect to Common Stock credited to a Member’s Accounts may, at the direction of
the Company, be paid by the Trustee directly to the Members. 
 (b) Stock Dividends. Shares of Common Stock received by
the Trustee as stock dividends or stock splits with respect to Common Stock allocated to any Member’s Accounts shall be credited to such Member’s Accounts. 
 Section 5.03—Withdrawals and Distributions 
 In the event a distribution or
withdrawal of some or all of the amounts invested in the ESOP Common Stock Fund is required to be paid to a Member, the Trustee (except to the extent the Member requests a distribution in kind) shall cause as many shares of such Member’s ESOP
Common Stock Fund as are the subject of such distribution or withdrawal to be sold in the open market, or redeemed or repurchased for cash. 

  
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 Section 5.04—Voting and Tendering 
 Each Member shall have the right and shall be afforded the opportunity to instruct the Trustee how to vote, at any meeting of the Company shareholders, those shares of Common Stock allocated or credited
to his or her Accounts as of a date prior to such meeting as established by the Plan Administrator for administrative purposes. Instructions by Members to the Trustee shall be in such form and pursuant to such regulations as the Plan Administrator
may prescribe and any such instructions shall remain in the strict confidence of the Trustee. If the Trustee does not timely receive instructions from a Member regarding his or her shares, the Trustee shall be required to vote such shares in the
same proportion as were voted those shares for which the Trustee received Member instruction. 
 Each Member shall have the right to instruct
the Trustee in writing as to the manner in which to respond to a tender or exchange offer (other than a tender or exchange offer made by the Company) for any or all shares of Common Stock credited to such Member’s Accounts as of a date prior to
the expiration of the offer, as established by the Plan Administrator for administrative purposes. The Trustee shall notify each Member and utilize its best efforts to timely distribute or cause to be distributed to him or her such information as
will be distributed to shareholders of the Company in connection with any such tender or exchange offer. Upon its timely receipt of such instructions, the Trustee shall tender or exchange such shares of Common Stock as and to the extent so
instructed. The failure of a Member to instruct the Trustee to tender or exchange shares of Common Stock credited to his or her Accounts shall be deemed to be an instruction not to tender or exchange such shares of stock. Accordingly, if the Trustee
does not receive instructions from a Member regarding any such tender or exchange offer for Common Stock, the Trustee shall not tender such shares. Notwithstanding the foregoing, the rights of Members and duties of the Trustee set forth herein shall
not apply in the event of a tender offer by the Company for any or all shares of Common Stock credited to such Members’ Accounts; nor shall the Trustee tender or exchange any Common Stock. 

Section 5.05—Diversification Elections 
 A Member, without regard to age and/or years of participation, may at any time elect to diversify investment of any and all of the Common Stock in his or her Account. 

Section 5.06 – Special Rules for Common Stock 
 (a) Right of First Refusal. Subject to the provisions of paragraph (3) of this Section 5.06(a), shares of the Common Stock distributed from the Plan shall be subject to a “Right of
First Refusal”. The Right of First Refusal shall provide that if any holder of shares of Common Stock distributed from the Plan receives a bona fide offer to purchase such shares from a third party at a time when the shares are not readily
tradable on an established market, he or she shall first offer such shares to the Company, subject to the following: 
 (1) The
selling price for such shares and the other terms of the sale to the Company must be no less favorable to the seller than the greater of the fair market value of such shares determined as of the most recent Valuation Date or the purchase price and
other terms offered by a prospective purchaser making a good faith offer to purchase the shares. 
 (2) The right of first
refusal shall lapse fourteen (14) days after the shareholder gives written notice to the Company that an offer has been received from a prospective purchaser to purchase such shares, the name and address of such prospective purchaser and all
relevant terms of the offer. 

  
 20 

 (3) No Right of First Refusal shall be exercisable by reason of any of the following
transfers: 
 (i) The transfer upon the death of a Member or Beneficiary of any shares of Common Stock to his or her legal
representatives, heirs and legatees; provided however, that any proposed sale or other disposition of any such shares by any legal representative, heir or legatee shall remain subject to the Right of First Refusal; 

(ii) The transfer by a Member or Beneficiary in accordance with the Put Option pursuant to Section 5.06(b) below; or 

(iii) The transfer while the Common Stock is listed on a national securities exchange registered under Section 6 of the Securities
Exchange Act of 1934, or quoted on a system sponsored by a national securities association registered under Section 15A(b) of the Securities Exchange Act of 1934. 
 (b) Put Option. The Company shall issue a “Put Option” to each Member or Beneficiary receiving a distribution of Common Stock from the Plan if the shares of Common Stock are not readily
tradable on an established market (within the meaning of Code Section 409(h)(1)(B)). The Put Option shall permit the Member or Beneficiary to sell such Common Stock to the Company at its then fair market value, at any time during the sixty
(60) day period commencing on the date the Common Stock was distributed to the recipient and, if not exercised within that period, the Put Option will temporarily lapse. After the annual revaluation of shares of Common Stock required under
Section 7.01 has occurred, the Company shall notify each distributee who did not exercise the initial Put Option prior to its temporary lapse in the preceding Plan Year of the revised value of the Common Stock. The time during which the Put
Option may be exercised shall recommence on the date such notice of revaluation is given and shall permanently terminate sixty (60) days thereafter. The Trustee may be permitted by the Company to purchase Common Stock tendered to the Company
under a Put Option. At the option of the Company or the Trustee, as the case may be, the payment for Common Stock sold pursuant to a Put Option shall be made in the following forms: 

(1) If the Common Stock was distributed as part of a total distribution (that is, a distribution within one taxable year to a Member of
the balance to the credit of his or her Accounts), then payments will be made in substantially equal annual installments commencing within thirty (30) days from the date of the exercise of the Put Option and over a period not exceeding five
(5) years, with interest payable at a reasonable rate on any unpaid installment balance, with adequate security provided, and without penalty for any prepayment of such installments; or 

(2) If a Member or Beneficiary exercises a Put Option on a distribution of Common Stock made to him or her in installment payments (in
accordance with the applicable provisions of Section 9.02(a)(3)) then, the payment for such Common Stock shall be made in a lump sum no later than thirty (30) days after such Member exercises the Put Option. 

The Trustee on behalf of the Plan may offer to purchase any shares of Common Stock (which are not sold pursuant to a Put Option) from
any former Member or Beneficiary at any time in the future, at their then fair market value. 
 (c) Stock Legend. Shares
of Common Stock held or distributed by the Trustee may include such legend restrictions on transferability as the Company may reasonably require in order to assure compliance with applicable Federal and State securities laws. 

  
 21 

 (d) No Other Puts or Calls, Etc. Except as otherwise required by applicable law, no
Common Stock acquired with the proceeds of an exempt loan within the meaning of Code section 4975(d)(3) may be subject to a put, call, or other option, or buy-sell or similar arrangement while held by and when distributed from the Plan. 

(e) Nonterminable Rights. The provisions of this Section 5.06 shall continue to be applicable to shares of Common Stock even
if the Plan ceases to be an employee stock ownership Plan within the meaning of Code Section 4975(e)(7). 
 Section 5.07—Share
Purchase Loans 
 At the direction of the Administrative Committee, the Trustee from time to time may enter into a “Share Purchase
Loan” for the purpose of acquiring Common Stock that constitutes “employer securities” within the meaning of Code Section 409(l) or for the purpose of repaying all or any portion of an outstanding Share Purchase Loan. The
terms of any Share Purchase Loan shall be subject to the conditions and restrictions set forth herein. Shares of Common Stock acquired with the proceeds of a Share Purchase Loan shall be credited to an “ESOP Loan Suspense Account”
until released in accordance with Section 5.08. All loans that are incurred as part of an integrated transaction shall be treated as a single Share Purchase Loan for all purposes of the Plan. 

For purposes of this Article a “Share Purchase Loan” means a loan or other extension of credit, the proceeds of which are used to acquire
Common Stock. 
 Section 5.08—Release from ESOP Loan Suspense Account 
 Subject to the following provisions of this Section, for each Plan Year throughout the duration of a Share Purchase Loan, a portion of the shares of Common Stock acquired with the proceeds of such Share
Purchase Loan shall be withdrawn from the ESOP Loan Suspense Account and allocated to Members’ ESOP Common Stock Fund Accounts in accordance with the provisions of Section 4.02. 
 As of the last day of each Plan Year, the number of shares of Common Stock that shall be released from the ESOP Loan Suspense Account shall be equal to the product of the number of shares of Common Stock
that are then held in the ESOP Loan Suspense Account multiplied by a fraction, the numerator of which is the amount of principal and interest paid on the related Share Purchase Loan for that Plan Year and the denominator of which is the amount of
principal and interest paid or payable on the related Share Purchase Loan for that Plan Year and for all future years. For this purpose, shares of Common Stock released from the ESOP Loan Suspense Account after the end of a Plan Year on account of
payments on a Share Purchase Loan with contributions for such Plan Year, but that were made after the end of such Plan Year, shall be deemed to have been released on the last day of such Plan Year. For purposes of determining the denominator
of the fraction described in the preceding sentence for any Plan Year, if the interest rate under the Share Purchase Loan is variable, the interest rate to be paid in future years shall be assumed to be equal to the interest rate applicable as of
the last day of that Plan Year. Notwithstanding the foregoing provisions of this Section, the number of shares of Common Stock attributable to a Share Purchase Loan that are withdrawn from the ESOP Loan Suspense Account shall be proportionate to
principal payments only, if: 
 (a) Such release is consistent with the provisions of the Share Purchase Loan with respect to
the release of Common Stock as collateral, if any, for such loan; 

  
 22 

 (b) The Share Purchase Loan provides for annual payments of principal and interest at a
cumulative rate that is not less rapid at any time than level annual payments of such amounts for ten (10) years; 
 (c)
Interest is disregarded for purposes of determining such release only to the extent that it would be determined to be interest under standard loan amortization tables; and 
 (d) The term of the Share Purchase Loan, together with any renewal, extension or refinancing thereof, does not exceed ten (10) years. 
 In the event that more than one Share Purchase Loan is outstanding at any time, the number of shares of Common Stock that is released from encumbrance at any time under this Section shall be based solely
on the repayment of the Share Purchase Loan to which such Common Stock is attributable. 
 Section 5.09—Use of Loan Proceeds and
Dividends 
 The proceeds of a Share Purchase Loan shall be used within a reasonable time after receipt to acquire shares of Common Stock or
to repay all or any portion of such Share Purchase Loan or any outstanding Share Purchase Loan. Cash dividends with respect to shares of Common Stock acquired with the proceeds of a Share Purchase Loan that are not allocated to Members’ ESOP
Common Stock Fund Accounts, and earnings thereon, shall, at the direction of the Administrative Committee, be used to make payments on such Share Purchase Loan. Cash dividends, and earnings thereon, that are not so applied to make payments on Share
Purchase Loans in accordance with the foregoing provisions of this Section shall be invested in accordance with Section 5.01(a). 
 ARTICLE VI 
 Investment Funds 

Section 6.01—Investment of Member Accounts 
 Each Member (or Beneficiary after a Member’s death) shall direct how his or her Account is to be invested among the Investment Funds made available to all Members (and Beneficiaries) in accordance
with uniform and nondiscriminatory rules of procedures established by the Plan Administrator which shall be consistently applied to similarly situated individuals. The Investment Committee shall have the sole discretion to determine the number of
Investment Funds to be maintained under the Plan and the nature of the Investment Funds. In addition, the Investment Committee may change or eliminate the Investment Funds provided hereunder from time to time. Anything herein to the contrary
notwithstanding, at all times and in all events, the number of Investment Funds, other than the Company Stock Fund, under the Plan shall be no less than three (3). 
 A Member (or Beneficiary after a Member’s death) may change his or her investment direction governing investment of future amounts allocated to his or her Accounts. A Member (or Beneficiary after a
Member’s death) may transfer the existing balances in his or her Accounts between the Investment Funds as of the date or dates and in the manner specified by the Plan Administrator. An investment direction once given shall be deemed to be a
continuing direction until explicitly changed by the Member by a subsequent direction to the Plan Administrator in accordance with appropriate procedures set forth by the Plan Administrator. 

  
 23 

 Section 6.02—Member Responsibility For Selection of Funds 

Each Member is solely responsible for the selection of his or her Investment Funds. Neither the Trustee, the Plan Administrator, the Investment Committee,
the Company, any Participating Employer nor any of the officers or supervisors of the Company are empowered to advise a Member as to the manner in which his or her Accounts shall be invested. The fact that a security is available to Members for
investment under the Plan shall not be construed as a recommendation for the purchase of that security, nor shall the designation of any Investment Fund impose any liability on the Company, its directors, officers or Employees, the Trustee, the Plan
Administrator, or the Investment Committee. 
 When an investment election is required to be made by a Member and if such Member fails to make
an affirmative election in a timely manner, such Member shall be deemed to have elected the Investment Fund specified by the Investment Committee as the default Investment Fund under the Plan and the Company, its directors, officers or employees,
the Trustee, the Investment Committee, the Plan Administrator, and any other plan fiduciary shall be deemed to be relieved of fiduciary responsibility for the investment of such funds. 

ARTICLE VII 

Valuation of Assets and Members’ Accounts 
 Section 7.01—Valuation of Assets 
 At the end of each Valuation Date, the Trustee
shall determine the aggregate fair market value of the assets then held by it in each Investment Fund. The market value of Common Stock held in the ESOP Common Stock Fund shall be the closing value on the New York Stock Exchange as of such date.

 Section 7.02—Valuation of Accounts 
 At the end of each Valuation Date, before the calculation and debiting of any distributions and in-service withdrawals from the Trust Fund or the posting of transfers among Investment Funds, the net
credit balances in the Accounts of Members or their beneficiaries will be adjusted to reflect any contributions to, and investment gains or losses in, the respective Investment Funds. 
 Section 7.03—Statement of Accounts 
 Each Member shall be furnished, at least
quarterly, a statement setting forth the value of his or her Accounts. 
 Section 7.04—Accounts in Units 

Each Member’s Accounts shall be maintained in units. 
 ARTICLE VIII 
 Vesting of Contributions 

Section 8.01—Vesting of Member Contributions 
 A Member shall be 100% vested at all times in his or her Before-Tax Investment Account, After-Tax Investment Account, Rollover Account and Playtex Merged Plan Account. 

  
 24 

 Section 8.02—Vesting of Company Matching Contribution Account 

A Member shall become 100% vested in his or her Company Matching Contribution Account upon (a) the Member’s attainment of age sixty-five
(65) while still employed, (b) the Member’s Retirement, (c) the Member’s Disability while still employed, (d) the Member’s death, or (e) the Member’s termination of employment with the Company and all
Affiliated Companies within twelve (12) months following a Change in Control (as defined below) provided that such termination of employment is either by the Member for Good Reason (as defined below) or by the Company or Participating Employer
for any reason other than for Cause (as defined below). As of any date prior to the occurrence of an event described above in this Section 8.02, the portion of the Member’s Company Matching Contribution Account in which a Member has a
vested interest shall be determined in accordance with the vesting schedule based upon the Member’s whole years included in his or her Period of Service as follows: 

 

					
	Period of Service in Whole Years	  	Vested Percentage	 
	 Less than 1 Year
	  	 	0	% 
	 1 Year but less than 2
	  	 	25	% 
	 2 Years but less than 3
	  	 	50	% 
	 3 Years but less than 4
	  	 	75	% 
	 4 or more Years
	  	 	100	% 

 Change of Control for purposes of this Article VIII means a change of control of a nature that would be required to
be reported in response to Item 6(e) of Schedule 14A of Regulation 14A promulgated under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), whether or not the Company is then subject to such reporting requirement;
provided that, without limitation, such a Change of Control shall be deemed to have occurred if: 
 (a) any “person”
(as such term is used in Sections 13(d) and 14(d)(2) as currently in effect, of the Exchange Act) is or becomes a “beneficial owner” (as determined for purposes of Regulation 13D-G, as currently in effect, of the Exchange Act), directly or
indirectly, of securities representing twenty percent (20%) or more of the total voting power of all of the Company’s then outstanding voting securities. The term “person” shall not include: (A) the Company or any
corporation of which fifty percent (50%) or more of the voting stock is owned, directly or indirectly, by the Company (individually, a “Subsidiary” and collectively “Subsidiaries”), (B) a trustee or other fiduciary
holding securities under an employee benefit plan of the Company or any of its Subsidiaries, or (C) an underwriter temporarily holding securities pursuant to an offering of said securities; 

(b) during any period of two (2) consecutive calendar years, individuals who at the beginning of such period constitute the Board of
Directors and any new director(s) whose election by the Board of Directors or nomination for election by the Company’s stockholders was approved by a vote of at least two-thirds of the directors then still in office who either were directors at
the beginning of such period or whose election or nomination for election was previously so approved, cease for any reason to constitute a majority of the Board of Directors; 
 (c) the stockholders of the Company approve a merger, consolidation or sale or other disposition of all or substantially all of the assets of the Company (a “Business Combination”), in each
case, unless following such Business Combination: (i) all or substantially all of the individuals and entities who were the “beneficial owners” (as determined for purposes of Regulation 13D-G, as currently in effect, of the Exchange
Act) of the outstanding voting securities of the Company immediately prior to such Business Combination beneficially own, directly or indirectly, securities representing more than fifty percent (50%) of the total voting power of the then
outstanding voting securities of the corporation 

  
 25 

 
resulting from such Business Combination or the parent of such corporation (the “Resulting Corporation”); (ii) no “person” (as such term is used in Section 13(d) and
14(d)(2), as currently in effect, of the Exchange Act), other than a trustee or other fiduciary holding securities under an employee benefit plan of the Company or the Resulting Corporation, is the “beneficial owner” (as determined for
purposes of Regulation 13D-G, as currently in effect, of the Exchange Act), directly or indirectly, of voting securities representing twenty percent (20%) or more of the total voting power of then outstanding voting securities of the Resulting
Corporation; and (iii) at least a majority of the members of the board of directors of the Resulting Corporation were members of the Board of Directors at the time of the execution of the initial agreement, or at the time of the action of the
Board, providing for such Business Combination; 
 (d) the stockholders of the Company approve a plan of complete liquidation or
dissolution of the Company; or 
 (e) any other event that a simple majority of the Board, in its sole discretion, shall
determine constitutes a Change of Control. 
 The term “Good Reason,” for purposes of this Article VIII, means any of the
following: assignment of duties inconsistent with the Employee’s status or diminution in status or responsibilities from that which existed prior to the Change of Control; reduction in the Employee’s annual salary; failure of the acquiror
to pay any bonus award to which the Employee was otherwise entitled, or to offer the Employee incentive compensation, stock options or other benefits or perquisites which are offered to similarly situated employees of the acquiror; relocation of the
Employee’s primary office to a location greater than fifty (50) miles from his or her existing office; any attempt by the acquiror to terminate the Employee’s employment in a manner other than as expressly permitted by the Change of
Control agreement(s); or the failure by the acquiror to expressly assume the Company’s obligations under the Change of Control agreement(s). 
 The term “Cause,” for purposes of this Article VIII, means willful breach or failure by the Member to perform his or her employment duties. 

Section 8.03—Playtex Plans Transition Rule 
 An individual who was a participant in any of the Playtex Plans and whose service was determined on the basis of completing a requisite number of hours, rather than on the basis of elapsed time, shall be
credited with the service to which such Member was entitled under the respective Playtex Plan provisions in effect on December 31, 2007, and for the period beginning January 1, 2008 shall be credited with service for purposes of vesting as
if his or her Employment Commencement Date was January 1, 2008. 
 The length of a Break in Service of a participant in a Playtex Plan who
was not an Employee on December 31, 2007, for purposes of a Break in Service that began before that date, shall be determined in accordance with the terms of the provisions of the applicable Playtex Plan in effect at the time of the last
Termination of Employment of the participant prior to December 31, 2007. 
 An individual who was employed by Playtex Products, Inc. or any
of its subsidiaries on December 31, 2007 shall be deemed to have completed a whole year of vesting service in his or her final year of employment if such Employee incurs a Termination of Employment after May 31st of such Plan Year.

  
 26 

 ARTICLE IX 
 Distributions 
 Section 9.01—General 

(a) Upon the Termination of Employment of a Member, the Member shall be entitled to receive the vested portion of the amount credited to
his or her Accounts in accordance with Section 9.02. The amount to which such Member is entitled to receive shall be paid as soon as practicable after the Member provides the Plan Administrator with a distribution form, unless the Member has
elected to defer the distribution of his or her Accounts in accordance with subparagraph (b) below. 
 (b) A Member may,
upon his or her Termination of Employment, elect to defer the distribution of the vested portion of his or her Accounts until a date which is not later than the December 31 of the calendar year in which the Member attains age seventy and
one-half (70-1/2) years (the “Deferral Period”) by notifying the Plan Administrator in writing of such election to defer as soon as practicable after Termination of Employment, in accordance with procedures established by the Plan
Administrator; provided however, that in the event a Member fails to elect the date as of which his or her benefit is to commence, such Member shall be deemed to have elected to defer the distribution of his or her benefit until the end of the
Deferral Period. At any time during the Deferral Period, a Member may revoke the election to defer all or a portion of the total remaining balance of the vested portion of his or her Accounts, and request a timely distribution of all or any portion
of the total remaining balance of the vested portion of his or her Accounts. 
 (c) Notwithstanding anything to the contrary in
this Article IX or the Plan, in accordance with the provisions of Code Section 411(d)(6) and the regulations thereunder, a portion of the Accounts of any Member who had an account in the Tanning Research Laboratories, Inc. Profit Sharing and
Retirement Savings Plan (“HT Plan”) prior to October 1, 1988 is subject to certain protected payment options that are not permitted to be eliminated. The HT Plan was converted from a money purchase pension plan effective as of
October 1, 1988; therefore, the employer contribution account of any employee with an HT Plan account who was hired prior to October 1, 1988 shall have that portion of his or her HT Plan account credited to a Prior Plan Employer Match
Account and that account will be subject to the special distribution provisions contained in Appendix A. 
 Section 9.02—Methods of
Distribution 
 Except as otherwise provided in this Article, distributions provided for under the Plan shall be made in the following
manner: 
 (a) A Member who has incurred a Termination of Employment, may irrevocably elect to receive his or her distribution,
unless the Member has filed a grievance pursuant to an authorized collective bargaining agreement or an administrative charge with a government agency, seeking reinstatement and to be made whole for lost benefits, and a final determination for the
grievance or charge has not been reached. The Member’s election to receive his or her distribution shall be on such form and at such time as specified by the Plan Administrator. The Member may elect to receive distribution of his or her
Accounts in accordance with any one of the following methods of payment: 
 (1) in a lump sum payment, or 

(2) in monthly, quarterly, semiannual or annual installments of principal (together with earnings on the remaining Account balance)
(A) for a period of ten (10) years or less, or (B) over the life expectancy of such Member payable as (i) fixed dollar installments, (ii) fixed percentage installments, or (iii) declining balance installments.

  
 27 

 (b) All distributions shall be made in cash; provided however, that, distributions from the
ESOP Common Stock Fund shall be in Common Stock with cash paid for any fractional share, unless the Member or his or her Beneficiary elects to take a distribution in cash. 
 Section 9.03—Completion of Appropriate Forms 
 The Plan Administrator has
prescribed forms providing written notice to the Company in order for a distribution to be made under the Plan. In the event a Member or a Beneficiary does not complete, execute and return such forms to the Company, the distribution of such
Member’s Accounts shall be mailed to the address of record as provided in Section 16.09 to a Member as soon as practicable following the sixty-fifth (65th) birthday of such Member, or to a Beneficiary. 

Section 9.04—Accounts of Former Employees 
 The amount credited to the accounts of a Member, if any, after Termination of Employment of such Member shall be adjusted in accordance with Article VII next following such Termination of Employment
until such amount shall have been distributed in full in accordance with this Article. Distribution of the balance of the amount credited to the Accounts of a Member, determined as of the Valuation Date immediately preceding such distribution, shall
constitute payment in full of the benefits of such Member hereunder. Any balance of such accounts remaining unpaid at the death of a Member or Beneficiary shall be distributed in accordance with Article X. 

Any amounts being held for deferred distribution will continue to be held by the Trustee and invested in accordance with the instructions of the Members.
Such instructions will be given in accordance with the provisions of this Plan. 
 Section 9.05—Consent to Payment 

Notwithstanding the foregoing provisions of Article IX, if the vested portion of the Accounts of a Member is $1,000 or less at the time of distribution
(including rollover contributions and earnings allocable thereto), such benefit shall be distributed in a lump sum payment as soon as administratively feasible after such amount becomes payable in accordance with this Article. 

No less than thirty (30) days and no more than 180 days before the date on which distributions to a Member in accordance with this Article commence,
the Plan Administrator shall provide to the Member a written notice describing the right to defer receipt of and the consequences of the failure to defer receipt of the distribution until age sixty-five (65). 

Such distribution may commence less than thirty (30) days after the notice required by the preceding paragraph is provided, provided that:

 (a) The Plan Administrator clearly informs the Member that the Member has a right to a period of at least thirty
(30) days after receiving the notice to consider the decision of whether or not to elect a distribution (and, if applicable, a particular distribution option), and 
 (b) The Member, after receiving the notice, affirmatively elects a distribution. 
 The written
consent to the distribution may not be made before the Member receives the notice and must not be made more than 180 days before the date of distribution. 

  
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 Section 9.06—Latest Deferral of Payment 

Unless the Member elects otherwise in writing and consistent with the provisions of the Plan, the latest date on which payment of
benefits must commence shall be the sixtieth
(60th) day after the close of the Plan Year in which
the latest of the following events occurs: (1) the Member attains sixty-five (65) years of age; (2) the Member incurs a Termination of Employment; and (3) ten (10) years have elapsed from the time the Member commenced
participation in the Plan. 
 Section 9.07—Required Payments 
 This Section 9.07 does not contain the general rules of the Plan governing the time and form of distributions. In particular, this Section in and of itself does not give any right to a Member to
defer distributions beyond the time of distribution provided in the preceding Sections. The provisions of this Section 9.07, which are included to comply with the Code, in certain limited circumstances as specifically provided in this Section,
merely may accelerate the time of distribution provided under other Sections of this Plan. 
 (a) General Rules. The
following provisions of this Section 9.07 will apply for purposes of determining required minimum distributions under Code Section 401(a)(9). The requirements of this Section 9.07 will take precedence over any inconsistent provisions
of the Plan. All distributions required under this Section 9.07 will be determined and made in accordance with the Treasury Regulations under Code Section 401(a)(9). The provisions of this Section 9.07 requiring a minimum distribution
shall not apply for the 2009 distribution calendar year. 
 (b) Required Beginning Date. The Member’s entire
interest will be distributed, or will begin to be distributed, to the Member no later than the Member’s Required Beginning Date. 
 (c) Death of Member Before Distributions Begin. If the Member dies before distributions begin, the Member’s entire interest will be distributed, or begin to be distributed, no later than as
follows: 
 (1) If the Member’s surviving Spouse is the Member’s sole designated Beneficiary, and
if the Member or Beneficiary elects the life expectancy rule in accordance with Section 9.07(h), then distributions to the surviving Spouse will begin by December 31 of the calendar year immediately following the calendar year in which the
Member died, or by December 31 of the calendar year in which the Member would have attained age seventy and one-half
(70 1/2), if later. 
 (2) If the Member’s surviving Spouse is not the
Member’s sole designated Beneficiary, and if the Member or Beneficiary elects the life expectancy rule in accordance with Section 9.07(h), then distributions to the designated Beneficiary will begin by December 31 of the calendar year
immediately following the calendar year in which the Member died. 
 (3) If there is no designated
Beneficiary as of September 30 of the year following the year of the Member’s death, or if the Member or Beneficiary does not elect the life expectancy rule in accordance with Section 9.07(h), the Member’s entire interest will be
distributed by December 31 of the calendar year containing the fifth (5th) anniversary of the Member’s death. 
 (4) If the Member’s
surviving Spouse is the Member’s sole designated Beneficiary and the surviving Spouse dies after the Member but before distributions to the surviving Spouse begin, this Section 9.07(c), other than Section 9.07(c)(i), will apply as if
the surviving Spouse were the Member. 

  
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 For purposes of Sections 9.07(c), 9.07(e) and 9.07(f), unless Section 9.07(c)(4) applies, distributions
are considered to begin on the Member’s Required Beginning Date. If Section 9.07(c)(4) applies, distributions are considered to begin on the date distributions are required to begin to the surviving Spouse under Section 9.07(c)(1). If
distributions under an annuity purchased from an insurance company irrevocably commence to the Member before the Member’s Required Beginning Date (or to the Member’s surviving Spouse before the date distributions are required to begin to
the surviving Spouse under Section 9.07(c)(1)), the date distributions are considered to begin is the date distributions actually commence. 
 Unless the Member’s interest is distributed in the form of an annuity purchased from an insurance company or in a single sum on or before the Required Beginning Date, as of the first distribution
calendar year distributions will be made in accordance with Sections 9.07(d), 9.07(e) and 9.07(f). If the Member’s interest is distributed in the form of an annuity purchased from an insurance company, distributions thereunder will be made in
accordance with the requirements of Code Section 401(a)(9) and the Treasury Regulations. 
 (d) Required Minimum
Distributions During Member’s Lifetime. During the Member’s lifetime, the minimum amount that will be distributed for each distribution calendar year is the lesser of: 

(1) the quotient obtained by dividing the Member’s Account balance by the distribution period in the Uniform Lifetime Table set
forth in Reg. Section 1.401(a)(9)-9, using the Member’s age as of the Member’s birthday in the distribution calendar year; or 
 (2) if the Member’s sole designated Beneficiary for the distribution calendar year is the Member’s Spouse, the quotient obtained by dividing the Member’s Account balance by the number in
the Joint and Last Survivor Table set forth in Reg. Section 1.401(a)(9)-9, using the Member’s and Spouse’s attained ages as of the Member’s and Spouse’s birthdays in the distribution calendar year. 

Required minimum distributions will be determined under this Section 9.07(d) beginning with the first distribution calendar year and up to and
including the distribution calendar year that includes the Member’s date of death. 
 (e) Required Minimum Distributions
After Member’s Death on or After Date Distributions Begin. 
 (1) Member Survived by Designated Beneficiary. If
the Member dies on or after the date distributions begin and there is a designated Beneficiary, the minimum amount that will be distributed for each distribution calendar year after the year of the Member’s death is the quotient obtained by
dividing the Member’s Account balance by the longer of the remaining life expectancy of the Member or the remaining life expectancy of the Member’s designated Beneficiary, determined as follows: 

(i) The Member’s remaining life expectancy is calculated using the age of the Member in the year of death, reduced by one for each
subsequent year. 
 (ii) If the Member’s surviving Spouse is the Member’s sole designated Beneficiary, the remaining
life expectancy of the surviving Spouse is calculated for each distribution calendar year after the year of the Member’s death using the surviving Spouse’s age as of the Spouse’s birthday in that year. For distribution calendar years
after the year of the surviving Spouse’s death, the remaining life expectancy of the surviving Spouse is calculated using the age of the surviving Spouse as of the Spouse’s birthday in the calendar year of the Spouse’s death, reduced
by one for each subsequent calendar year. 

  
 30 

 (iii) If the Member’s surviving Spouse is not the Member’s sole designated
Beneficiary, the designated Beneficiary’s remaining life expectancy is calculated using the age of the Beneficiary in the year following the year of the Member’s death, reduced by one for each subsequent year. 

(2) No Designated Beneficiary. If the Member dies on or after the date distributions begin and there is no designated Beneficiary
as of September 30 of the year after the year of the Member’s death, the minimum amount that will be distributed for each distribution calendar year after the year of the Member’s death is the quotient obtained by dividing the
Member’s Account balance by the Member’s remaining life expectancy calculated using the age of the Member in the year of death, reduced by one for each subsequent year. 

(f) Required Minimum Distributions After Member’s Death Before Date Distributions Begin. 

(1) Member Survived by Designated Beneficiary. If the Member dies before the date distributions begin and there is a designated
Beneficiary, and if the Member or Beneficiary elects the life expectancy rule in accordance with Section 9.07(h), the minimum amount that will be distributed for each distribution calendar year after the year of the Member’s death is the
quotient obtained by dividing the Member’s Account balance by the remaining life expectancy of the Member’s designated Beneficiary, determined as provided in Section 9.07(e). If the Member dies before the date distributions begin and
there is a designated Beneficiary, and if neither the Member nor Beneficiary elects the life expectancy rule in accordance with Section 9.07(h), distribution of the Member’s entire interest will be completed by December 31 of the
calendar year containing the fifth anniversary of the Member’s death. 
 (2) No Designated Beneficiary. If the
Member dies before the date distributions begin and there is no designated Beneficiary as of September 30 of the year following the year of the Member’s death, distribution of the Member’s entire interest will be completed by
December 31 of the calendar year containing the fifth anniversary of the Member’s death. 
 (3) Death of Surviving
Spouse Before Distributions to Surviving Spouse Are Required to Begin. If the Member dies before the date distributions begin, the Member’s surviving Spouse is the Member’s sole designated Beneficiary, and the surviving Spouse dies
before distributions are required to begin to the surviving Spouse under Section 9.07(c)(i), this Section 9.07(f)(iii) will apply as if the surviving Spouse were the Member. 

(g) Definitions. 
 (1) Designated Beneficiary: The individual who is designated as the Beneficiary under Section 10.02 of the Plan and is the designated Beneficiary under Code Section 401(a)(9) and Reg.
Section 1.401(a)(9)-1, Q&A-4. 
 (2) Distribution calendar year: A calendar year for which a minimum distribution is
required. For distributions beginning before the Member’s death, the first distribution calendar year is the calendar year immediately preceding the calendar year which contains the Member’s Required Beginning Date. For distributions
beginning after the Member’s death, the first distribution calendar year is the calendar year in which distributions are required to begin under Section 9.07(c). The 

  
 31 

 
required minimum distribution for the Member’s first distribution calendar year will be made on or before the Member’s Required Beginning Date. The required minimum distribution for
other distribution calendar years, including the required minimum distribution for the distribution calendar year in which the Member’s Required Beginning Date occurs, will be made on or before December 31 of that distribution calendar
year. 
 (3) Life expectancy: Life expectancy as computed by use of the Single Life Table in Reg. Section 1.401(a)(9)-9.

 (4) Member’s Account balance: The Member’s Account balance as of the last Valuation Date in the calendar year
immediately preceding the distribution calendar year (valuation calendar year) increased by the amount of any contributions made and allocated or forfeitures (if any) allocated to the Account balance as of dates in the valuation calendar year after
the Valuation Date and decreased by distributions made in the valuation calendar year after the Valuation Date. The Account balance for the valuation calendar year includes any amounts rolled over or transferred to the Plan either in the valuation
calendar year or in the distribution calendar year if distributed or transferred in the valuation calendar year. 
 (5) Required Beginning Date: April 1 of the calendar year following the later of (a) the calendar year in which the Member attains seventy and one-half (70 1/2) years of age; and (b) if the Member is not a five percent (5%) owner, as defined in Code Section 416(i), the calendar year in which the Member incurs a Termination of Employment.

 (h) Election of Life Expectancy Rule. If the Plan provides for distribution in the form of an annuity contract
or installment payments, and a Member or Beneficiary has elected distribution in the form of an annuity contract or installment payments, the Member or Beneficiary may elect the life expectancy rule in Sections 9.07(c) and 9.07(f) to apply to
distributions after the death of a Member who has a designated Beneficiary. The election must be made no later than the earlier of September 30 of the calendar year in which distribution would be required to begin under Section 9.07(c), or
by September 30 of the calendar year which contains the fifth anniversary of the Member’s (or, if applicable, surviving Spouse’s) death. 
 Section 9.08—Lost Payees 
 In the event the amount credited to the Account(s) of a
Member remain unclaimed for more than five (5) years after such amount becomes distributable under the terms of the Plan, and the Plan Administrator is unable to locate such Member (or his or her Beneficiary), the Plan Administrator may direct
such amount to be applied to reduce Company Matching Contributions provided that in the event such Member (or his or her Beneficiary) subsequently claims such amounts, the Employer shall contribute an amount to the Plan which will cause the balance
of such Member’s account(s) to equal the amount which would have been credited to such account(s) as of such date if such amounts had never been reallocated pursuant to this Section. 
 Section 9.09—Direct Rollovers 
 (a) Notwithstanding any provision
of the Plan to the contrary that would otherwise limit a distributee’s election under this Section, a distributee may elect, at the time and in the manner prescribed by the Plan Administrator, to have any portion of an eligible rollover
distribution paid directly to an eligible retirement plan specified by the distributee in a direct rollover. 

  
 32 

 (b) Definitions. For purposes of this Section, the following definitions shall apply:

 (1) Eligible rollover distribution: An eligible rollover distribution is any distribution of all or any portion of the
balance to the credit of the distributee, except that an eligible rollover distribution does not include: any distribution that is one (1) of a series of substantially equal periodic payments (not less frequently than annually) made for the
life (or life expectancy) of the distributee or the joint lives (or joint life expectancies) of the distributee and the distributee’s designated Beneficiary, or for a specified period of ten (10) years or more; any distribution to the
extent such distribution is required under Code Section 401(a)(9); and any amount that is distributed on account of hardship. A portion of a distribution shall not fail to be an eligible rollover distribution merely because the portion consists
of after-tax employee contributions which are not includible in gross income. However, such portion may be transferred only to an individual retirement account or annuity described in Code Section 408 (a) or (b), or in a direct
trustee-to-trustee transfer to a qualified trust described in Code Section 401(a) or an annuity contract under Code Section 403(b) that agrees to separately account for amounts so transferred, including separately accounting for the
portion of such distribution which is includible in gross income and the portion of such distribution which is not so includible. 
 (2) Eligible retirement plan: An eligible retirement plan is an individual retirement account described in Code Section 408(a), an individual retirement annuity described in Code Section 408(b),
a Roth IRA described in Code Section 408A, an annuity plan described in Code Section 403(a), an annuity contract described in Code Section 403(b), an eligible plan under Code Section 457(b) which is maintained by a state,
political subdivision of a state, or any agency or instrumentality of a state or political subdivision of a state and which agrees to separately account for amounts transferred into such plan from this Plan, or a qualified trust described in Code
Section 401(a), that accepts the distributee’s eligible rollover distribution. 
 (3) Distributee: A distributee
includes a Member or former Member. In addition, the Member’s or former Member’s surviving Spouse and the Member’s or former Member’s Spouse or former Spouse who is the alternate payee under a qualified domestic relations order,
as defined in Code Section 414(p), are distributees with regard to the interest of the Spouse or former Spouse. 
 (4)
Direct Rollover: A direct rollover is a payment by the Plan to the eligible retirement plan specified by the distributee. 

ARTICLE X 

Death Benefits 

Section 10.01—Death Benefits 

Upon the death of a Member, the amount credited to the Member’s Accounts shall become distributable as soon as practicable after the death of such
Member. The amount distributable under this Article X shall be distributed in one lump sum payment to the Member’s Spouse unless such Member has designated another Beneficiary in accordance with Section 10.02 and such Spouse has consented
to such Beneficiary pursuant to Section 10.02. 
 A non-spouse Beneficiary may elect to receive his or her distribution from the Plan in
the form of a direct trustee-to-trustee transfer to an eligible retirement plan in accordance with Code Section 402(c)(11). 

  
 33 

 Section 10.02—Beneficiary Designation 

Each Member from time to time on a form acceptable to the Plan Administrator may designate any person (including a trust) or persons (concurrently,
contingently or successively) to whom the Member’s benefits under the Plan are to be paid if the Member dies before receiving all of such benefits. A beneficiary designation form shall be effective only when the form is filed in writing by the
Member and shall cancel all beneficiary designation forms previously signed and filed by the Member. 
 If a Member had a valid beneficiary
designation on file with a Playtex Plan, the Member’s entire Accounts shall be payable as provided on such beneficiary designation unless or until the Member completes and files a new beneficiary designation form. 

The designation of a non-Spouse Beneficiary shall be valid only if the surviving Spouse of the Member shall have consented to such designation, the
consent acknowledges the effect of such designation and the consent is witnessed by a Plan representative or a notary public. 

Section 10.03—Latest Time for Payment 
 If a Member dies after distribution of benefits has commenced but before the entire interest has been distributed, the remaining portion of such interest shall be distributed at least as rapidly as the
distribution option elected by the Member. 
 If a Member dies before a distribution of his or her benefit has commenced, distribution shall be
made no later than the date specified in Section 9.07. 
 Section 10.04—Payments in the Event of Death with No Designated
Survivor or Incompetency 
 In the event of (a) the death of a Member or Beneficiary not survived by a person designated to receive any
payment then due, or (b) the Plan Administrator finding that a Member or other person entitled to a benefit is unable to care for his or her affairs because of illness or accident or is a minor or has died, or (c) no Beneficiary being
designated, the Plan Administrator may direct that any benefit payment due him or her, unless claim shall have been made therefor by a duly appointed legal representative, be paid to his or her spouse, a child, a parent or other blood relative, a
person with whom he or she resides, or to any other person the Plan Administrator considers suitable, and any such payment so made shall be a complete discharge of the liabilities of the Plan therefor. 

Section 10.05—Renunciation of Death Benefit 
 Any Beneficiary of a Member entitled to a benefit under this Plan may disclaim his or her right to all or a portion of such benefit by filing a written irrevocable and unqualified refusal to accept such a
benefit with the Plan Administrator before receiving any such benefit. Any benefits so disclaimed shall be distributable to the person or persons (and in the proportions) to which such benefit would have been distributable if the Beneficiary who so
disclaims such benefits had predeceased such Member. 
 Section 10.06—Proof of Death and Right of Beneficiary or Other Person

 The Plan Administrator may require and rely upon such proof of death and such evidence of the right of any Beneficiary or other person to
receive the undistributed value of the Accounts of a deceased Member as the Plan Administrator may deem proper and its determination of death and of the right of such Beneficiary or other person to receive payment shall be conclusive. 

  
 34 

 ARTICLE XI 
 Withdrawal Prior to Termination of Employment 
 Section 11.01—Withdrawal of
After-Tax Investment Account 
 A Member, including a Member who has a Termination of Employment, may withdraw amounts from his or her
After-Tax Investment Account in accordance with guidelines determined by the Plan Administrator at any time by submitting a written request to the Plan Administrator specifying the amount to be withdrawn. Payment shall be made to the Member as soon
as practicable after the submission of the Member’s written request to the Plan Administrator. The withdrawal may not exceed the lesser of the Member’s After-Tax Investment Account and the Member’s total After-Tax Contributions.

 Section 11.02—Hardship Withdrawal 
 (a) A Member, including a Member who has a Termination of Employment, may withdraw amounts from his or her Before-Tax Investment Account and the vested portion of his or her Company Matching Contribution
Account on account of hardship by submitting his or her written request to the Plan Administrator at such time and in such manner as shall be prescribed by the Plan Administrator. Hardship withdrawals may be granted upon evidence of immediate and
heavy financial need due to: 
 (1) Expenses for (or necessary to obtain) medical care that would be
deductible under Code Section 213(d) (without regard to whether the expenses exceed seven and one-half percent (7 1/2%) of adjusted gross income) incurred by the Member, the Member’s Spouse, or any dependents of the
Member (as defined in Code Section 152), or the Member’s Beneficiary; 
 (2) Purchase (excluding mortgage
payments) of a principal residence of the Member; 
 (3) Payment of tuition and related educational fees for the next twelve
(12) months for post-secondary education for the Member, his or her spouse, children or dependents (as defined in Code Section 152 without regard to the requirement that gross income is less than the exemption amount), or the Member’s
Beneficiary; 
 (4) Payments necessary to prevent the eviction of the Member from his or her principal residence or foreclosure
on the mortgage on the Member’s principal residence; 
 (5) Payments for burial or funeral expenses for the Member’s
deceased parent, Spouse, children or dependents (as defined in Code Section 152 without regard to the requirement that gross income be less than the exemption amount), or the Member’s Beneficiary; or 

(6) Expenses for the repair of damage to the Member’s principal residence that would qualify for the casualty deduction under Code
Section 165 (without regard to whether the loss exceeds ten percent (10%) of adjusted gross income). 
 (b) The amount
withdrawn may not exceed the actual expense incurred or to be incurred by the Member on account of such needs. The amount of an immediate and heavy financial need may include any amounts necessary to pay any federal, state, or local income taxes or
penalties reasonably anticipated to result from the distribution. The amount may be withdrawn only to the extent that the need cannot be satisfied by other resources reasonably available to the Member. A Member must obtain all other distributions
(including any dividends currently available under Code Section 404(k) from an employee stock ownership plan) and loans currently available under all plans maintained by the Company and all Affiliated Companies before applying for a hardship
distribution withdrawal. 

  
 35 

 In making this determination, the Plan Administrator may rely on the Member’s
representation that the need cannot be relieved: 
 (1) Through reimbursement or compensation by insurance or otherwise;

 (2) By reasonable liquidation of the Member’s assets; 

(3) By other distributions or loans from Company-sponsored plans, or 

(4) By borrowing from commercial sources on reasonable terms. 
 (c) Only one such withdrawal shall be permitted during a twelve-month period. 

(d) The Plan Administrator shall establish such rules and procedures for the manner and order in which such withdrawals shall be made
from his or her Account and the Investment Funds. 
 (e) The withdrawal shall be paid to the Member as soon as practicable after
the Member’s written request is submitted to the Plan Administrator. 
 (f) A Member requesting a hardship withdrawal shall
be precluded from making any Before-Tax Matched Contributions, Before-Tax Unmatched Contributions and After-Tax Contributions during the six-month period immediately following such withdrawal. 

(g) No distribution shall be made without the approval of the Plan Administrator, whose action thereon shall be final. The Plan
Administrator may establish additional rules governing the granting of hardship withdrawals; provided that such rules are consistent with the provisions of this Section and Reg. Section 1.401(k)-1(d)(3). 

Section 11.03—Age Fifty-Nine and One-Half (59-1/2) Withdrawal 
 A Member who has attained age fifty-nine and one-half (59-1/2) may withdraw the vested portion of his or her Before-Tax Investment Account, After-Tax Investment Account, and Company Matching Contribution
Account, and related earnings. In addition, any Member with an account from the Playtex Ohio Plan that was merged into this Plan effective as of the close of December 31, 2007 may withdraw all or any portion of his or her Mondial account and
related earnings. Further, any Member with an account from the HT Plan that was merged into this Plan effective as of the close of December 31, 2007 may withdraw all or any part of his or her HT Plan account (other than his or her Prior Plan
Employer Match Account and related earnings which may not be withdrawn prior to his or her Termination of Employment). Any withdrawal under this Section shall in accordance with guidelines determined by the Plan Administrator by submitting a written
request to the Plan Administrator specifying the amount to be withdrawn. Payment shall be made to the Member as soon as practicable after submission of the Member’s written request to the Plan Administrator. 

Section 11.04—Withdrawals of Rollovers 
 Any Member with an account from the Playtex Plans that was merged into this Plan effective as of the close of December 31, 2007 with a rollover account attributable to such prior plan may withdraw
all or any portion of such account and related earnings in accordance with guidelines determined by the Plan Administrator by submitting a written request to the Plan Administrator specifying the amount to be withdrawn. Payment shall be made to the
Member as soon as practicable after submission of the Member’s written request to the Plan Administrator. 

  
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 Section 11.05—Age Seventy and One-Half (70-1/2) Withdrawal 

Any Member with an account from the Playtex Plans that was merged into this Plan effective as of the close of December 31, 2007 may withdraw all or
any portion of a vested transferred account and related earnings in accordance with guidelines determined by the Plan Administrator by submitting a written request to the Plan Administrator specifying the amount to be withdrawn. Payment shall be
made to the Member as soon as practicable after submission of the Member’s written request to the Plan Administrator. Notwithstanding the foregoing in no event may a Member withdraw any portion of his or her HT Plan Prior Plan Employer Match
Account prior to Termination of Employment. 
 Section 11.06—Order of Withdrawals 

Amounts withdrawn pursuant to Sections 11.02 and 11.03 shall be withdrawn in accordance with such procedures established by the Plan Administrator.

 ARTICLE XII 
 Forfeitures 
 Section 12.01—Time of Forfeiture and Restoration 

(a) If a Member incurs a Termination of Employment, the portion, if any, of his or her Company Matching Contribution Account in which he
or she is not vested pursuant to Article IX shall be forfeited as of the Valuation Date coincident with or next following the earlier of: (i) the Member has received a distribution of the entire vested portion of his or her Accounts, or
(ii) the Member has incurred a five (5) consecutive year Break in Service. 
 (b) If a Member has forfeited a portion
of his or her Company Contribution Account pursuant to subsection (a), such forfeited amount will be restored if he or she is re-employed by the Company or any Affiliated Company before he or she has incurred a Break in Service of at least five
(5) years. Any amounts restored and repaid to the Trust Fund under this Section shall be paid into the remaining Funds in the same proportion as Before-Tax Unmatched Contributions are currently being made. 

The amount of the restoration to which a Member is entitled shall be allocated out of forfeitures and if such amounts are not sufficient
out of Company contributions. 
 Section 12.02—Disposition of Forfeitures 

All forfeitures arising out of the application of the provisions of Section 12.01 shall be used to reduce Company Matching Contributions otherwise
payable to the Plan. 
 Section 12.03—Effect of Withdrawal Under Article XI 

The non-vested Company Contribution Account of a Member who makes a withdrawal described in Article XI shall not be forfeited by reason thereof.

 Section 12.04—Parental Leave 
 In the case of an Employee who is absent from work due to an approved parental leave or medical leave due to pregnancy, the Break in Service of the Employee shall not include the twelve
(12) consecutive 

  
 37 

 
month period beginning on the first anniversary of the day such absence began. Absence from work for parental leave means absence from work on account of the pregnancy or birth of a child of the
employee, the placement of a child with the Employee in connection with the adoption or foster care of the child, or for purposes of caring for a child within twelve (12) months following such a birth or placement. 

ARTICLE XIII 
 Administration of Plan 
 Section 13.01—Plan Administrator 

The Administrative Committee shall be the Plan Administrator and shall have the responsibility for carrying out the provisions of the Plan and the general
administration of the Plan. 
 All resolutions or other action taken by the Administrative Committee shall be in accordance with its Charter and
rules and procedures adopted by the Administrative Committee. 
 Section 13.02—Authority and Duties of Various Fiduciaries

 (a) Except for matters required by the terms of the Plan, or of the Trust Agreement to be decided by the Trustee, the Plan
Administrator shall have the exclusive right to interpret the Plan and to decide any and all matters arising under the Plan or in connection with its administration, including determination of eligibility for, and the amount of, distributions and
withdrawals. The Company shall have no power to direct or modify any interpretations, determinations, or decisions of the Plan Administrator. The Plan Administrator may recommend amendments to the Board of Directors or its delegate. The Plan
Administrator may from time to time adopt rules for the administration of the Plan and the conduct of its business, which rules shall be consistent with the provisions of the Plan. 
 The Plan Administrator shall perform its duties as the Plan Administrator in its sole discretion and shall determine what is appropriate in light of the reason and purpose for which the Plan is
established and maintained. In particular, the interpretation of all Plan provisions, and the determination of whether a Member or Beneficiary is entitled to any benefit pursuant to the terms of the Plan, shall be exercised by the Plan Administrator
in its sole discretion. Any construction of the terms of the Plan for which there is a rational basis that is adopted by the Plan Administrator shall be final and legally binding on all parties. 

Any interpretation of the Plan or other action of the Plan Administrator made in good faith in its sole discretion shall be subject to review only if
such an interpretation or other action is without a rational basis. Any review of a final decision or action of the Plan Administrator shall be based only on such evidence presented to or considered by the Plan Administrator at the time it made the
decision that is the subject of the review. Any Affiliated Company that adopts and maintains the Plan, and any Employee who performs services for an Affiliated Company that are or may be compensated for in part by benefits payable pursuant to the
Plan, hereby consents to actions of the Plan Administrator made in its sole discretion and agrees to the narrow standard of review prescribed in this Section. 
 (b) The Administrative Committee, the Trustee, the Investment Committee, and any other named fiduciary may each employ counsel, agents, and such clerical and accounting services as it may require in
carrying out its responsibilities under the Plan. All fiduciaries shall be entitled to rely upon tables, valuations, certificates, opinions, and reports furnished by any actuary, accountant, or legal counsel appointed under the provisions of the
Plan. 

  
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 (c) The Administrative Committee shall keep in convenient form such personnel data as may be
necessary for the Plan. The Administrative Committee shall prepare, distribute, and file such reports and notices as may be required by applicable law or regulations. 
 (d) The Investment Committee shall control and manage the Plan assets to the extent provided in its Charter. 
 (e) The members of the Administrative Committee, the Investment Committee, and the Trustee shall use the degree of care, skill, prudence and diligence that a prudent person acting in a like capacity and
familiar with such matters would use in his or her conduct of a similar situation. A member of the Administrative Committee, the Investment Committee, or the Trustee shall not be liable for the breach of fiduciary responsibility of another fiduciary
unless (1) he or she participates knowingly in, or knowingly undertakes to conceal, an act or omission of such other fiduciary, knowing such act or omission is a breach; or (2) by his or her failure to discharge his or her duties solely in
the interest of Members and Beneficiaries for the exclusive purpose of providing their benefits and defraying reasonable expenses of administering the Plan not met by the Company, he or she has enabled such other fiduciary to commit a breach; or
(3) he or she has knowledge of a breach by such other fiduciary and does not make reasonable efforts to remedy the breach; or (4) if the Administrative Committee, the Investment Committee, or the Trustee improperly allocates among
themselves or delegates to others, or fails to properly review such allocation or delegation of fiduciary responsibilities. 

(f) The Company will indemnify and save harmless the members of the Administrative Committee, the Investment Committee, the Trustee, and
any person to whom fiduciary responsibilities are delegated under this Plan against any and all expenses (including attorneys’ fees), judgments, fines, and amounts paid in settlement, actually and reasonably incurred by him or her in connection
with any civil, criminal, administrative, or investigative action, proceeding, or claim (including an action by or in the right of the Company) by reason of the fact that he or she is or was serving in such capacity, provided that such person’s
conduct is not finally adjudged to have been knowingly fraudulent, deliberately dishonest or willful misconduct. 
 (g) Each
Trustee shall maintain accounts showing the fiscal transactions of the Trust Fund established hereunder. The Investment Committee shall keep in convenient form such financial data as may be necessary for the Plan, and shall annually cause to be
prepared a balance sheet and statement of financial transactions of the Plan and the Trust. 
 (h) Whenever, in the
administration of the Plan, any discretionary action is required, the authorized party shall exercise his or her authority in a nondiscriminatory manner so that all persons similarly situated will receive substantially the same treatment.

 Section 13.03—Named Fiduciaries 
 The Administrative Committee and the Investment Committee shall each constitute named fiduciaries as such term is defined in the Employee Retirement Income Security Act of 1974, as amended. 

Section 13.04—Delegation 
 Any
named fiduciary designated herein or appointed as provided herein, unless precluded from doing so by the terms of such appointment, may by appropriate instrument designate any person (including any firm or corporation) to carry out part or all of
such fiduciary’s responsibilities and upon such designation the named fiduciary shall have no liability, except as imposed by applicable law, for any act or omission of such person. The foregoing does not preclude any other fiduciary to the
extent allowed by ERISA and the terms of his or her appointment from delegating part or all of such fiduciary’s responsibilities with respect to the Plan. 

  
 39 

 Section 13.05—Multiple Capacities 
 Any fiduciary may serve in more than one fiduciary capacity with respect to the Plan. 
 ARTICLE XIV 
 Amendments, Termination, Permanent Discontinuance of
Contributions, Merger or Consolidation 
 Section 14.01—Amendments 
 The Board of Directors, the Administrative Committee, or the Investment Committee to the extent authority to do so is granted by the Board of Directors, may at any time and from time to time, both
retroactively and prospectively, modify or amend, in whole or in part, any or all of the provisions of the Plan, including any modification in the Plan or in the agreement or agreements establishing the trust as the Plan Administrator shall deem to
be necessary or advisable in order to obtain the qualification or exemption, or to maintain the qualification or exemption of the Plan and the Trust under the Code to comply with ERISA, provided, however, that no such modification or amendment shall
make it possible for any part of the funds of the Plan to be used for, or diverted to, purposes other than for the exclusive benefit of Members, spouses, former Members, retired Members or Beneficiaries under the Plan; that no modification or
amendment shall be made which has the effect of decreasing retroactively the Accounts of any Member or of reducing the non-forfeitable percentage of the Company Matching Contribution Account of a Member below the non-forfeitable percentage thereof
computed under the Plan as in effect on the later of the date on which the amendment is adopted or becomes effective. The Administrative Committee shall have the authority to amend the Plan, to adopt plan amendments required to maintain the
tax-favored status of the Plan, to comply with applicable benefit plan laws and any other amendments to the extent the annual cost to the Plan resulting from such amendment does not exceed $250,000 and consistent with the Charter of the
Administrative Committee. Any amendment to the Plan shall be effective with respect to all Participating Employees without formal action on the part of any Participating Employer other than the Company. 

Section 14.02—Termination or Permanent Discontinuance of Contributions 
 The Company may by action of its Board of Directors terminate the Plan with respect to itself and/or with respect of any or all Participating Employers or direct complete discontinuance of contributions
hereunder by all or any of the Participating Employers for any reason at any time. In case of such termination or complete discontinuance of contributions hereunder, there shall automatically vest in the appropriate Members non-forfeitable rights to
the Company Matching Contributions credited to their Accounts. 
 Section 14.03—Partial Termination 

In the event of a partial termination of the Plan, the provisions of Section 14.02 shall be applicable only to the Members affected by such partial
termination. 
 Section 14.04—Benefits in Case of Merger or Consolidation 

The Plan may not be merged or consolidated with, nor may its assets or liabilities be transferred to, any other plan unless each Member, spouse, former
Member, retired Member or Beneficiary under the Plan would if the resulting plan were then terminated, receive a benefit immediately after the merger, consolidation, or transfer which is equal to or greater than the benefit he or she would have been
entitled to receive immediately before the merger, consolidation, or transfer if the Plan then had been terminated. 

  
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 ARTICLE XV 
 Loans 
 Section 15.01—Loans 

In the event of financial necessity, a Member who is on the active payroll and eligible for payroll deductions may make application to the Plan
Administrator in writing to borrow from the Trust Fund and the Plan Administrator may in its sole discretion permit such a loan upon the conditions hereinafter specified. The authority herein granted to the Plan Administrator to approve loans from
the Trust Fund is for the purpose of assisting a Member to meet special situations and shall not be used as a means of distributing benefits before they otherwise become due. Loans shall be granted in a uniform and non-discriminatory manner and
shall be made on the following conditions: 
 (a) The amount of a loan to a Member (when added to the outstanding balance of all
other loans from the Plan to the Member) shall not exceed the lesser of — 
 (1) Fifty percent (50%) of the
vested amount in the Member’s Accounts, or 
 (2) $50,000, reduced by the excess (if any) of the highest outstanding
balance of loans from the Plan to the Member during the one-year period ending on the day before the date on which such loan was made over the outstanding balance of loans from the Plan on the date on which such loan was made. 

The maturity of a loan shall not exceed five (5) years, except in the case of a loan to acquire or construct the Member’s
principal residence, which shall mature in not more than ten (10) years. 
 If the Member is also covered under another
qualified plan maintained by the Company or any Affiliated Company, the limitations of subsections (a)(1) and (2) shall be applied as though all such qualified plans are one plan. 

(b) Loan repayments shall be made by regular installment payments through payroll deduction whenever possible and to the extent permitted
by law. The terms of such loans shall require substantially level amortization over the term of the loan with payments not less frequently than quarterly. Loans shall bear interest as specified in Section 15.02. Loans shall be granted only if
secured by the Member’s vested Account Balances; provided, however, that no more than fifty percent (50%) of the Member’s vested Account Balance may be pledged as collateral for the loan. 

(c) In the event of the Termination of Employment of the Member before the loan is repaid in full, the unpaid balance thereof, together
with interest thereon, shall become due and payable and the Trustee shall first satisfy the indebtedness from the amount payable to the Member or to the Member’s Beneficiary before making any payments to the Member or to the Member’s
Beneficiary. Notwithstanding the foregoing, such provision shall not apply with respect to any loan that was issued pursuant to the terms of a written loan agreement and promissory note under a Playtex Plan that was merged into this Plan effective
as of the close of December 31, 2007 that contains a provision for continued monthly payments after Termination of Employment, unless the Member has agreed in writing to the elimination of such provision. 

(d) Loan repayments will be suspended under this Plan as permitted under Code Section 414(u). 

  
 41 

 (e) If a Member has an HT Plan Prior Plan Employer Match Account, no loan may be taken with
respect to such portion of the Member’s Accounts. 
 Section 15.02—Interest Rates 

Interest rates for Plan loans shall be regularly reviewed and adjusted in conformity with interest rates which, in the judgment of the Plan Administrator,
are commensurate with rates charged by commercial lenders for similar types of loans. The interest rate applicable to a Plan loan shall be fixed as of the date the application for such a loan is received by the Plan Administrator or its delegate,
and shall not be subject to change or renegotiation after such date. 
 Section 15.03—Other Rules 

In addition to the foregoing, the Plan Administrator shall prescribe such rules and procedures as it may deem appropriate, including, without limitation,
the imposition of loan application fees, rules and procedures by which the making of loans may be terminated, suspended or restricted, to the extent deemed by the Plan Administrator to be necessary or desirable in order to effect compliance with
applicable laws and regulations or to provide for effective administration of such loans. 
 ARTICLE XVI 

Miscellaneous 

Section 16.01—Benefits Payable from Trust Fund 
 All benefits to be paid under the Plan shall be paid solely out of the Trust Fund and the Company and any Affiliated Company do not assume any liability or responsibility therefore. 

Section 16.02—Elections 
 All
elections and consents by Members and Beneficiaries shall be made in writing on a form prescribed by the Plan Administrator for such purposes, within the time limits set forth hereunder with respect to each such election or consent or, if no time
limit is set forth, such limit as may be established by the Plan Administrator. 
 Section 16.03—No Right to Continued Employment

 Neither the establishment of the Plan nor the payment of any benefits thereunder nor any action of the Company, the Board of Directors,
the Plan Administrator or the Trustee shall be held or construed to confer upon any person any legal right to be continued in the employ of the Company. 
 Section 16.04—Inalienability of Benefits and Interest 
 No benefit payable under
the Plan or interest in the Trust Fund shall be subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance or charge, and any such attempted action shall be void and no such benefit or interest shall be in any
manner liable for or subject to debts, contracts, liabilities, engagements or torts of any Member or Beneficiary. If any Member or Beneficiary shall become bankrupt or shall attempt to anticipate, alienate, sell, transfer, assign, pledge, encumber
or charge any benefit payable under the Plan or interest in the Trust Fund, then to the extent permitted by law, the Plan Administrator in its discretion may hold or apply such benefit or interest or any part thereof to or for the benefit of such
Member, or his or her Beneficiary, his or her spouse, children, blood relatives, or dependents, or any of them, in such manner and in such proportions as the Plan Administrator may consider proper. 

  
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 Notwithstanding any provision in the Plan to the contrary, the Plan Administrator shall: (a) comply
with a qualified domestic relations order within the meaning of Code Section 414(p), including distributions required or permitted by the qualified domestic relations order to an alternate payee even though such payments are with respect to a
Member who has not separated from service and which commence before the Member has attained the earliest retirement age under the Plan; (b) surrender to the government of the United States of America any portion of the Trust Fund which is
subject to a federal tax levy made pursuant to Code Section 6331; and (c) satisfy a judgment against a Member for a crime involving the Plan, as described in Code Section 401(a)(13). The Plan Administrator shall establish a procedure
to determine the qualified status of a domestic relations order and to administer distributions under such a qualified order. If any portion of the Trust Fund which is attributable to the benefits rights or interest of any Member is transferred to
any other entity pursuant to subsection (a), (b) or (c) to satisfy a debt or other obligation of such Member, the amount credited to the Account of such Member shall be reduced by the amount so transferred. 

Section 16.05—Payments for Exclusive Benefits of Members 
 Payments of benefits in respect of the interest of a Member under the Plan to any person other than such Member in accordance with the provisions of the Plan shall be deemed to be for the exclusive
benefit of such Member. 
 Section 16.06—Prohibited Investment 
 The principal and income of the Trust Fund shall not be paid to or revert to the Company or any Affiliate or be used for any purpose other than the exclusive benefit of Members and Beneficiaries and the
payment of the reasonable and necessary expenses of the Plan; provided that, this Section shall not prohibit the return, upon demand, of a contribution made to the Trust Fund if (a) the contribution is made as a result of a mistake of fact and
the return is within one year of the contribution or (b) the deduction for the contribution is disallowed under Code Section 404 and the return (to the extent that a deduction is disallowed) is within one year of the disallowance.

 Any contribution returned under this Section shall be reduced by any portion of such contribution that previously was distributed and by any
losses of the Trust Fund allocable to such contribution, and in no event shall the return of any contribution cause the balance of any Member’s Account to be less than the amount of such balance had the contribution not been made. 

Section 16.07—Rules of Construction 
 The terms and provisions of the Plan shall be construed according to the principles, and in the priority, as follows: first, in accordance with the meaning under, and which will bring the Plan into
conformity with, the Code and ERISA; and secondly, in accordance with the laws of the State of Missouri. The Plan shall be deemed to contain the provisions necessary to comply with such laws. If any provision of the Plan shall be held illegal or
invalid, the remaining provisions of the Plan shall be construed as if such provision had never been included. Wherever applicable, the masculine pronoun as used herein shall include the feminine, and the singular shall include the plural. The term
profit shall mean profit or loss, as the case may be, and the term credit shall mean credit or charge, as the case may be. 

Section 16.08—No Guarantee 

Neither the Company nor the Trustee guarantees the Trust Fund in any manner against loss or depreciation. 

  
 43 

 Section 16.09—Address of Record 
 Each individual or entity with an actual or potential interest in the Plan shall file and maintain a current record address with the Plan. Any communication, statement or notice addressed to such
individual or entity at his or her last post office address filed with the Plan Administrator will be binding upon the Member for all purposes of the Plan, and the Trustee and the Plan Administrator shall not be obligated to search for or to
ascertain the whereabouts of any such individual or entity. 
 If no record address is filed, it may be presumed that the address used by the
Company in forwarding statements of a Member’s Account is the record address. 
 Section 16.10—Participating Employers

 The Board of Directors or the Plan Administrator, to the extent authority to do so is granted to the Plan Administrator by the Board of
Directors, may approve the adoption of the Plan by an Affiliated Company with respect to all or certain of its Employees. An Affiliated Company will be deemed to have adopted the Plan by making contributions to the Plan. An Affiliated Company that
adopts the Plan thereby consents to all future amendments to the Plan by the Company, agrees to make contributions to the Plan for its Employees in Covered Service in accordance with the Plan or such agreement with the Company and agrees to all
interpretation and actions of the Plan Administrator. Any Participating Employer may terminate its participation in the Plan with respect to all or certain of its Employees upon appropriate action by it, in which event the funds of the Plan held on
account of such Members and any unpaid balances of the Accounts of such Members who have separated from the employ of such Participating Employer, shall be determined by the Plan Administrator and shall be distributed in the event of termination of
the Plan, held and distributed in accordance with the terms of the Plan governing treatment of Members transferred from Covered Service, or shall be segregated by the Trustee as a separate trust fund, pursuant to direction to the Trustee by the Plan
Administrator, continuing the Plan as a separate plan for such employees of such company under which the board of directors of such company shall succeed to all the powers and duties of the Board of Directors, including the appointment of the
members of the Plan Administrator. 
 Section 16.11—Headings 
 Headings of Articles and Sections of the Plan are inserted for convenience of reference. They constitute no part of the Plan. 
 Section 16.12—Use of Masculine Terms 
 As used herein, masculine terms shall
include the feminine wherever appropriate. 
 Section 16.13—Payment of Expenses 

(a) Direct charges and expenses arising out of the purchase or sale of securities, and taxes levied on or measured by such transactions
shall be charged against the Investment Fund or Funds for which the transaction took place. 
 (b) To the extent permitted by
law, all other expenses reasonably incurred in administering the Plan, including expenses of the Plan Administrator and the Trustee, fees for legal services, all taxes, if any, other than those charged to the Investment Funds, and the brokerage fees
arising out of the purchase of Common Stock for the Company Common Stock Fund and the reinvestment of dividends on such Common Stock shall be charged to the Trust in the manner determined by the Plan Administrator. 

  
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 Section 16.14—Rollover Contributions 

The Trustee, at the discretion of the Plan Administrator, in each case, may accept from an Employee who is in Covered Service an “eligible rollover
distribution” from an “eligible retirement plan” as those terms are defined in Code Section 402(c). An Employee who is in Covered Service may roll over an eligible rollover distribution from any other qualified plan as described
in Code Section 401(a) or 403(a) excluding after-tax employee contributions, an annuity contract described in Code Section 403(b), excluding after-tax employee contributions, an eligible plan under Code Section 457(b) which is
maintained by a state, political subdivision of a state, or any agency or instrumentality of a state of political subdivision of a state, an individual retirement account, or individual retirement annuity described in Code Section 408(a) or
408(b) that is eligible to be rolled over and would otherwise be includable in gross income. An Employee who is in Covered Service also may cause a direct transfer of an eligible rollover distribution, as described in Code Section 401(a)(31),
to be made to the Plan from another qualified plan. The Employee shall be required to represent in writing that the rollover satisfies the requirements of the Code applicable to rollover contributions to a qualified plan and provide such other
information or documentation as required by the Plan Administrator. A separate Rollover Account shall be established on behalf of the Employee under Section 1.36 for each such contribution. The Employee shall be fully vested with respect to his
or her Rollover Account. In the event an amount contributed to the Plan pursuant to this Section shall be determined not to qualify as an eligible rollover distribution as defined above, the balance credited to such Rollover Account shall be
distributed to the Employee who made a rollover contribution to the Plan. 
 The Plan Administrator may establish such procedures as it deems
appropriate to assure that such contribution will not adversely affect the qualified status of the Plan. 
 ARTICLE XVII

 Claims and Review Procedures 
 Section 17.01—Claims for Benefits 
 A Member or Beneficiary who believes that he
or she is entitled to benefits under the Plan may file a written request for such benefits with the Plan Administrator setting forth his or her claim. 
 Section 17.02—Written Denials of Claims 
 Within ninety (90) days after
receipt of the request, the Plan Administrator shall provide to every claimant who is denied a claim for benefits, written notice setting forth in a manner calculated to be understood by the claimant: 

(a) The specific reason or reasons for the denial; 
 (b) Specific reference to pertinent Plan provisions on which the denial is based; 

(c) A description of any additional material or information necessary for the claimant to perfect the claim and an explanation of why
such material or information is necessary; and 
 (d) An explanation of the claim review procedure and the time limits
applicable to such procedures, including a statement of the claimant’s right to bring a civil action under Section 502(a) of ERISA following an adverse benefit determination on review. 

  
 45 

 If special circumstances require an extension of time beyond the initial ninety (90) day period, prior
to the end of such initial ninety (90) day period the Plan Administrator shall provide to the claimant written notice of the extension, the special circumstances requiring the extension, and the date by which the Plan Administrator expects to
render the final decision. In no event shall such extension exceed a period of ninety (90) days from the end of the initial ninety (90) day period. If the Plan Administrator does not furnish a response within the initial ninety
(90) day or extended period, the claimant shall be deemed to have exhausted the claims and appeals process set forth in this Article XVII and is entitled to file suit in state or federal court. 

Section 17.03—Appeal of Denial 

If a claimant receives notice from the Plan Administrator that a claim for benefits has been denied in whole or in part, the claimant or the
claimant’s duly authorized representative may, within sixty (60) days after receipt of notice of such denial: 
 (a)
Make written application to the Plan Administrator for a review of the decision. Such application shall be made on a form specified by the Plan Administrator and submitted with such documentation as the Plan Administrator shall prescribe;

 (b) Review, upon request and free of charge, all documents, records and other information in the possession of the Plan
Administrator which are relevant to the claim; and 
 (c) Submit written comments, documents, records and other information
relating to the claim. 
 If the claimant or his or her duly authorized representative fails to file such appeal within sixty (60) days
after the claim is denied, the claimant shall be deemed to have waived any right to appeal the denial of the claim. 
 If review of a decision
is requested, such review shall be made by the Plan Administrator who shall review all comments, documents, records, and other information submitted by the claimant relating to the claim, without regard to whether such information was submitted or
considered in the initial benefit determination. 
 The Plan Administrator shall furnish a written decision on review not later than sixty
(60) days after the notice of appeal is filed by the claimant. If special circumstances require an extension of time beyond the initial sixty (60) day period, prior to the end of such initial sixty (60) day period the Plan
Administrator shall provide to the claimant written notice of the extension, the special circumstances requiring the extension, and the date by which the Plan Administrator expects to render the final decision. In no event shall such extension
exceed a period of sixty (60) days from the end of the initial sixty (60) day period. 
 Any denial shall inform the claimant of the
specific reason or reasons for the denial, refer to the specific Plan provisions on which the denial is based, state that the claimant is entitled to receive, upon request and free of charge, reasonable access to, and copies of, all documents,
records, and other information relevant to the claim, and state that the claimant has a right to bring a civil action under Section 502(a) of ERISA. 
 Section 17.04—Limitation of Action and Choice of Venue 
 Before a Member or
Beneficiary may bring a legal action against the Plan, the Plan Sponsor, or the Plan Administrator, the Member or Beneficiary must first complete all steps of the Claims and Review 

  
 46 

 
Procedures contained in this Article XVII. After completing all steps of the Claims and Review Procedures contained in this Article XVII, a Member or Beneficiary has one (1) year from the
date he or she is notified of the Plan Administrator’s final decision to bring such legal action or the right to bring such legal action is lost. 
 Any legal action against the Plan, the Plan Sponsor, or the Plan Administrator may only be brought in the United States District Court for the Eastern District of Missouri. 

ARTICLE XVIII 
 Limitation on Contributions 
 Section 18.01—Limitation—In General

 If a Member does not participate in any other qualified defined contribution plan, welfare benefit fund (as defined in Code
Section 419(e)), or individual medical account (as defined in Code Section 415(l)(2)) maintained by the Company or an Affiliated Company, then the annual additions credited to his or her Account under this Plan for a Limitation Year shall
not exceed the lesser of the following: 
 (a) The amount specified in Code Section 415(c)(1)(A), as adjusted annually for
any applicable increases in the cost of living in accordance with Code Section 415(d), as in effect as of the last day of the Plan Year ($49,000 for 2009); and 

(b) One hundred percent (100%) of the Member’s compensation, within the meaning of Code Section 415
(c)(3), for the limitation year. The compensation limit referred to in this subsection (b) shall not apply to any contribution for medical benefits after separation from service (within the meaning of Code Section 401(h) or 419A(f)(2)
which is otherwise treated as an annual addition). In addition, in order to be taken into account for purposes of this Section, compensation generally must be paid or treated as paid to the Member before the Member’s severance from employment.
However, payments of compensation paid by the later of two and one-half months (2 1/2) months after the Members severance from employment or the end of the limitation year that includes the date of the
Member’s severance from employment shall be treated as compensation to the extent such amounts are compensation for services rendered that would have been paid absent a severance from employment, or payments for accrued vacation or other leave
the Member would have been able to use if employment had continued, or payment of unfunded nonqualified compensation that would have been paid at the same time if the Member had continued in employment. For purposes of this Section, severance from
employment means termination of common law employment, unless, in the case of a sale of substantially all of the assets of a business, the Member is employed by the buyer of the business immediately after the sale and the buyer adopts this Plan or a
successor qualified plan that accepts the assets and liabilities of this Plan with respect to such Member, or, in the case of cessation of affiliated company status, such former affiliated company or a member of its new controlled group adopts this
Plan or a successor qualified plan that accepts the assets and liabilities of the Plan with respect to such Member. 
 For purposes of
this Section 18.01, catch-up contributions, including Before-Tax Matched Contributions and Before-Tax Unmatched Contributions re-characterized as catch-up contributions in accordance with Section 4.05 and 4.07, made by a Member in
accordance with Section 4.03(b) and Code Section 414(v), shall not be taken into account under this Section 18.01. 
 For
purposes of this Section 18.01, Code Section 415, which limits the benefits and contributions under qualified plans, is hereby incorporated by reference. The limitation year shall be the Plan Year. 

  
 47 

 Section 18.02—Limitation if Other Qualified Defined Contribution Plan 

If a Member participates in any other qualified defined contribution plan, welfare benefit fund, or individual medical account maintained by the Company
or an Affiliated Company (applying the rules of Code Section 415(h)), then the annual additions credited to such Member’s Accounts under this Plan, together with the annual additions credited to such Member’s account under such other
plan, fund, or account, for a limitation year shall not exceed the limit specified in 18.01 above. 
 Section 18.03—Corrective
Action 
 If, as a result of the allocation of forfeitures, a reasonable error in estimating a Member’s Compensation, a reasonable error
in determining the amount of Before-Tax Matched Contributions, Before-Tax Unmatched Contributions or After-Tax Contributions that may be made by a Member under the limits of Code Section 415 or under other limited facts and circumstances that
the Commissioner of the Internal Revenue Service finds justify the availability of the rules set forth in this Article, the annual additions that otherwise would be credited to a Member’s Accounts exceed the limitations under Code
Section 415 for the limitation year, the excess amounts shall be corrected in accordance with the principles set out in the Employee Plans Compliance Resolution System. 
 ARTICLE XIX 
 Top-Heavy Provisions 

Section 19.01—Introduction 

This Article applies to determine whether the Plan is a Top-Heavy Plan for a Plan Year. 
 To the extent that this Article does not contain all rules in Code Section 416 (and the regulations thereunder) that apply for this purpose, such rules are incorporated herein by reference and shall
supplement this Article. 
 Section 19.02—Top-Heavy Plan 
 For purposes of this Article, the Plan will be determined to be Top-Heavy for a Plan Year if, as of the Determination Date, the sum of: 

(a) the present value of the cumulative accrued benefits with respect to any defined benefit plan; and 

(b) the aggregate value of the accounts with respect to any defined contribution plan of Key Employees under the Plan exceeds sixty
percent (60%) of the sum of (a) and (b) of all Members under the Plan as determined pursuant to Code Section 416(g). 

Payments made within the one (1) year period ending on the Determination Date shall be added to the account balance of any defined contribution plan
or the present value of the cumulative accrued benefits with respect to any defined benefit plan in determining whether the Plan is Top-Heavy. The preceding sentence shall also apply to payments from a terminated plan which, had it not been
terminated, would have been aggregated with the Plan under Code Section 416(g)(2)(a)(i). In case of a payment made for a reason other than separation from employment, death, or disability, this provision shall be applied by substituting
“five (5) year period” for “one (1) year period”. 

  
 48 

 The account balance of any defined contribution plan or present value of the cumulative accrued benefits
with respect to any defined benefit plan of a Member who is not a Key Employee with respect to the Plan Year but who was a Key Employee in a prior year shall be disregarded. The account balance of any defined contribution plan or present value of
the cumulative accrued benefits with respect to any defined benefit plan of a Member who has not performed services for the Company or an Affiliated Company during the one (1) year period ending on the Determination Date shall not be taken into
account. 
 Each plan of the Company and Affiliated Company required to be included in an aggregation group shall be treated as a top-heavy plan
if such group is a top-heavy group. For purposes of this Article, the term “aggregation group” means: 
 (a) each plan
of the Company and Affiliated Company in which a Key Employee is a Member; and 
 (b) each other plan of the Company and
Affiliated Company which enables any plan described in subsection (a) to meet the requirements of Code Sections 401(a)(4) or 410. 
 The
Company may treat any plan not required to be included in an aggregation group under subsections (a) or (b) above as being part of such group if such group would continue to meet the requirements of Code Sections 401(a)(4) and 410 with
such plan being taken into account. 
 Section 19.03—Determination Date 
 The “determination date”, with respect to any Plan Year, is the last day of the immediately preceding Plan Year; provided however that, the Determination Date for the first Plan Year shall be
the last day of such Plan Year. 
 Section 19.04—Valuation of Trust Fund as of Determination Date 

The value of the Trust Fund, and of the respective Member Accounts which together constitute the Trust Fund, shall be determined as of the Determination
Date in accordance with Article VII. 
 Section 19.05—Key Employee; Non-Key Employee 

“Key Employee” means an Employee or former Employee (including any deceased Employee) who, at any time during the Plan Year that includes the
Determination Date, was: 
 (a) An officer of the Company or any Affiliated Company having an annual compensation greater than
$130,000 (as adjusted under Code Section 416(i)(1), $160,000 for 2009); 
 (b) A five percent (5%) owner of the
Company or any Affiliated Company; or 
 (c) A one percent (1%) owner of the Company or any Affiliated Company having an
annual compensation from the Company of more than $150,000. 
 For purposes of this Article, “compensation” means compensation as
defined in Code Section 415(c)(3) and the regulations thereunder. The determination of who is a Key Employee will be made in accordance with Section 416(i)(1) of the Code and the applicable regulations and other guidance of general
applicability issued thereunder. 
 A “Non-Key Employee” is any Employee who is not a Key-Employee. 

  
 49 

 Section 19.06—Minimum Benefit 
 If the Plan is determined to be Top-Heavy for a Plan Year, the Company contributions and forfeitures allocated (excluding Before-Tax Matched Contributions and Before-Tax Unmatched Contributions) on behalf
of each Member who was a Non-Key Employee and who was employed on the last day of the Plan Year shall in no case be less than the lesser of: 
 (a) Three percent (3%) of such Member’s compensation for such Plan Year, or 
 (b) The highest percentage of compensation allocated to the Accounts of a Key Employee for that year. For this purpose, compensation shall include elective contributions made under the Plan on behalf of
such Key Employee. 
 Notwithstanding anything in the Plan to the contrary, each Member entitled to a Company contribution under this Section
shall be allocated such contribution regardless of whether the Member completes a year of service for vesting. 
 Company Matching Contributions
made pursuant to Section 4.02 shall be taken into account for purposes of satisfying the minimum contribution requirements of Code Section 416(c)(2) and the Plan. The preceding sentence shall apply with respect to Company Matching
Contributions under the Plan or, if the Plan provides that the minimum contribution requirement shall be met in another plan, such other plan. Company Matching Contributions that are used to satisfy the minimum contribution requirements shall be
treated as matching contributions for purposes of the actual contribution percentage test and other requirements of Code Section 401(m). 

Notwithstanding anything in the Plan to the contrary, the Company may elect to satisfy the minimum benefit requirements as set forth herein and Code
Section 416, in this Plan, within any one or more of the other plans maintained by the Company or Affiliated Company, or by aggregating amounts from this Plan and one or more of those other plans. 

Section 19.07—Subsequent Amendment of Provisions 
 In the event that it should be determined by statute or ruling by the Internal Revenue Service that the provisions of this Article are no longer necessary to qualify the Plan under the Code, this Article
shall be ineffective without amendment to the Plan. 
 IN WITNESS WHEREOF, Energizer Holdings, Inc. has caused this
Amendment No. 15 to be executed by the undersigned representative of the Company this 7th day of December, 2009. 
  

			
	ENERGIZER HOLDINGS, INC.
		
	By:	 	/s/ Peter J. Conrad
		
	Name:	 	Peter J. Conrad
		
	Title:	 	Vice President, Human Resources

  
 50 

 APPENDIX A 
 MERGED PLAN PROTECTED BENEFITS 
 The following provisions modify and override the
provisions of the Plan to the extent provided in this Appendix with respect to certain grandfathered rights applicable to accounts transferred to the Plan in connection with the merger of the Tanning Research Laboratories, Inc. Profit Sharing and
Retirement Savings Plan (“HT Plan”) into the Plan. The HT Plan Prior Plan Employer Match Account has been established in connection with the merger of the HT Plan into this Plan, to account for the fact that the HT Plan was originally a
money purchase pension plan and was converted into the HT Plan effective as of October 1, 1988; however, because the most recent recordkeeper for the HT Plan did not separately account for the money purchase pension funds, a Prior Plan Employer
Match Account will be established for each participant in the HT Plan who was hired prior to October 1, 1988 and who has an employer contribution account under the HT Plan on December 31, 2007 immediately prior to the merger of the HT Plan
into the Plan. 
 The capitalized defined terms used in the Plan shall have the same meaning when used in this Appendix A. 

Notwithstanding any other provision of the Plan to the contrary, a Member’s Prior Plan Employer Match Account shall be maintained to the extent
necessary to administer the provisions of this Appendix A and to comply with the requirements of applicable law including the requirement that the Plan preserve all “Section 411(d)(6) protected benefits,” as that term is defined in Reg.
Section 1.411(d)-4, with respect to a Member’s Accounts, except to the extent such “Section 411(d)(6) protected benefit” is inconsistent with the terms of the Plan and may be eliminated or reduced in accordance with such
regulation to comport with the terms of the Plan. 
 1. Form of Payment from the HT Plan Prior Plan Employer Match
Account. In addition to the forms of payment provided in Section 9.02 of the Plan, a Member may elect to receive his or her benefits credited to the Prior Plan Employer Match Account in the form of a life annuity, funded through the
purchase of a nontransferable annuity contract. A Member may elect to receive his or her benefits in the form of a life annuity, a fixed annuity, a variable annuity, or any other form of nontransferable annuity contract. For this purpose an annuity
contract is nontransferable if the owner cannot sell, assign, discount or pledge as collateral for a loan or as security for the performance of an obligation or for any other purposes his or her interest in the contract to any person other than the
issuer thereof. 
 Any amount in the Member’s Prior Plan Employer Match Account shall be payable in the normal form of a Qualified Joint
and Survivor Annuity (as defined below) unless the Member validly elects not to receive distribution in that form and the Spouse of the Member, if any, consents to such election in accordance with the provisions of this Appendix, or unless the
vested amount credited to the Member’s Accounts is less than the amount prescribed in Section 9.05. 
 (a)
Qualified Joint and Survivor Annuity. A Qualified Joint and Survivor Annuity means an annuity for the life of the Member with a survivor annuity for the life of his or her Spouse which is equal to fifty percent (50%) of the amount of the
annuity which is payable to the Member during the joint lives of the Member and the Spouse. In the case of a Member who does not have an Spouse, a Qualified Joint and Survivor Annuity means an annuity for the life of the Member. 

  
 51 

 Each Member entitled to receive his or her benefit in the form of a Qualified Joint and
Survivor Annuity shall furnish proof satisfactory to the Plan Administrator of the age of his or her Spouse, if any, within a reasonable period before his or her Annuity Starting Date. 

(b) Qualified Optional Survivor Annuity. A Qualified Optional Survivor Annuity means an annuity for the life of the Member with a
survivor annuity for the life of his or her Spouse which is equal to seventy-five percent (75%) of the amount of the annuity which is payable to the Member during the joint lives of the Member and the Spouse. In the case of a Member who does
not have an Spouse, a Qualified Optional Survivor Annuity means an annuity for the life of the Member. 
 Each Member entitled
to receive his or her benefit in the form of a Qualified Optional Survivor Annuity shall furnish proof satisfactory to the Plan Administrator of the age of his or her Spouse, if any, within a reasonable period before his or her Annuity Starting
Date. 
 (c) Election Not to Receive a Qualified Joint and Survivor Annuity or Qualified Optional Survivor Annuity. An
election to receive a life annuity in a form other than a Qualified Joint and Survivor Annuity or a Qualified Optional Survivor Annuity may be made (and any prior such election may be revoked) by a Member, subject to the following: 

(1) The election must be made and any necessary consent obtained during the Election Period as defined below. The election must be in
writing on a form acceptable to the Plan Administrator and must be signed by the Member. The election form must clearly indicate that the Member is electing to receive his or her benefit in a form other than a Qualified Joint and Survivor Annuity or
Qualified Optional Survivor Annuity and must specify the form of distribution elected. If applicable, the election must also name the specific non-spouse beneficiary who will receive the benefit, if applicable. 

(2) The Spouse of the Member must consent to the election in writing on a form acceptable to the Plan Administrator, signed by the
Spouse and witnessed by a Plan representative or a notary public. The consent must specify the form of distribution elected by the Member; name the specific non-spouse beneficiary who will receive the benefit, if applicable; and acknowledge the
effect of the election. Such a consent is not necessary if the Member establishes to the satisfaction of the Plan Administrator that such written consent may not be obtained because there is no Spouse, because the Spouse cannot be located, or
because of such other circumstances as Treasury Regulations may prescribe. Any consent by the Spouse shall be effective only with respect to such Spouse. 
 (3) Any such election may be revoked or changed by the Member by a subsequent election made in accordance with this section during the Election Period. The election may be revoked, but not changed,
without the consent of the Spouse. The Spouse may not revoke a consent to a valid election. 
 (4) Subject to the exceptions
below, no less than thirty (30) days and no more than 180 days before the Annuity Starting Date, the Plan Administrator or insurance company shall provide to the Member a written notification that includes a general explanation of the Qualified
Joint and Survivor Annuity and Qualified Optional Survivor Annuity; the circumstances in which it will be provided unless the Member elects otherwise; the availability of the election; a general explanation of the relative financial effect on the
distribution of the Member of such an election; an explanation of the relative values of the optional forms of payment; the rights of the Member’s Spouse, if any; the right to revoke a previous election and the effect of such a revocation; and
an explanation of the availability of additional specific information on the financial effect of making such an election. 

  
 52 

 Such notice shall be provided in a manner that conforms to the requirements of ERISA. An
election made in accordance with this section is valid only if made after such notice has been properly provided. 
 The
Member, with the consent of the Spouse of the Member, if any, may affirmatively elect to waive the requirement that such a notice must be provided at least thirty (30) days before his or her Annuity Starting Date, provided that the distribution
commences more than seven (7) days after such notice is provided to the Member. A distribution may commence less than thirty (30) days after the above notice is given, provided that the Member affirmatively elects to waive the timing
requirements for such notice after the Plan Administrator clearly informs the Member that he or she has a right to a period of at least thirty (30) days after receiving the notice to consider the decision of whether or not to elect a
distribution in the form of a Qualified Joint and Survivor Annuity or a Qualified Optional Survivor Annuity. 
 (5) Subject to
the exceptions below, the Election Period of a Member means the 180 day period ending on the Annuity Starting Date of the Member. In the event a Member waives the thirty (30) day notice requirement as permitted above, the Election Period of the
Member shall end on the later of the Annuity Starting Date of the Member or seven (7) days after such notice is provided to the Member. If the notice described above is provided to the Member after the Annuity Starting Date of the Member, the
Election Period of the Member shall be the thirty (30)-day period beginning when such notice is provided to the Member; provided that, the Member, with the consent of the Spouse of the Member, if any, may affirmatively elect to waive the requirement
that the Election Period extend at least thirty (30) days, provided that the distribution of his or her pension benefit commences more than seven (7) days after such notice is provided to the Member and the Election Period includes at
least seven (7) days after such notice is provided. 
 (d) Annuity Starting Date. For purposes of this Appendix,
Annuity Starting Date means the first day of the first period for which a benefit is payable to a Member in the form of an annuity in accordance with this Appendix (not the date of distribution of an annuity contract); for any other form of benefit,
Annuity Starting Date means the date distributions commence. 
 (e) Distribution of Annuity Contracts. In the event a
Member or Beneficiary shall be entitled to receive a distribution in the form of an annuity pursuant to this Appendix, at the direction of the Plan Administrator, the Trustee shall purchase a nontransferable annuity contract from an insurance
company with the vested amount credited to the Member’s Prior Plan Employer Match Account other than a Member loan balance. Selection of such an annuity contract shall be made by the Member or Beneficiary for whom such an annuity contract is to
be purchased. In the absence of a selection by the Member or Beneficiary, the Trustee shall make the selection. 
 Any annuity
contract purchased by the Trustee shall satisfy all of the terms and conditions of the Plan. Such an annuity contract shall provide payment options that conform to those provided by the terms of the Plan, so that payment pursuant to the contract
satisfies the terms of the Plan (including but not limited to the survivor annuity requirements of the Plan) as if paid directly by the Plan. 
 The Plan Administrator shall direct the Trustee to transfer such an annuity contract to the Member or Beneficiary, whichever is applicable, if annuity payments under the contract have commenced, or, in
the case of a deferred annuity, if the contract by its terms provides that the insurance company that issued the contract will administer the notice and election provisions relating to optional forms of payment. The insurance company that issues
such a contract is hereby designated as the Plan Administrator with respect to administering notice and election requirements of a deferred annuity contract. 

  
 53 

 Neither the Trustee, the Plan Administrator nor any Employer shall be responsible for the
failure on the part of an insurance company issuing such an annuity contract to pay annuities if and when the payments shall become due and payable. When the Trustee shall have purchased an annuity contract for a Member or Beneficiary and
distributed the contract to such person, the Member or Beneficiary, whichever is applicable, shall have no further right or claim to receive payments from the Trust Fund to the extent that the balance in his or her Prior Plan Employer Match Account
was applied to the purchase of an annuity contract. 
 (f) Payments in the Event of Benefit. This subsection shall apply
to any Member who dies before his or her Annuity Starting Date. 
 Such a Member’s surviving Spouse shall be entitled to
receive a single life annuity which is of actuarial equivalent value to fifty percent (50%) of the amount credited to the Member’s Prior Plan Employer Match Account as of the date of the Member’s death (“Qualified Pre-Retirement
Survivor Annuity”) or a Qualified Optional Survivor Annuity (as defined in (b) above), unless there is no surviving Spouse or the surviving Spouse has validly consented to the designation of another Beneficiary in accordance with
Section 10.02 of the Plan. Such annuity shall be provided to the surviving Spouse in the form of a nontransferable annuity contract purchased by the Trustee from an insurance company in accordance with this Appendix. 

Each such Member from time to time may designate on a form acceptable to the Plan Administrator any Beneficiary (including a trust) or
Beneficiaries (concurrently, contingently or successively) to whom the Member’s benefits under the Plan are to be paid if he or she dies before receiving all of such benefits; provided that, before his or her Annuity Starting Date, a Member may
not designate any person or persons other than the surviving Spouse as Beneficiary of more than fifty percent (50%) of the amount credited to the Member’s Prior Plan Employer Match Account unless the surviving Spouse of the Member consents
to such designation on a form acceptable to the Plan Administrator. Such consent must specify the specific non-spouse Beneficiary designated by the Member and must acknowledge the effect of such designation and such designation must be witnessed by
a Plan representative or notary public. Such a Beneficiary designation is valid only if made after the notice described in the next paragraph has been properly provided. If made before the Member has attained age thirty–five (35), such a
Beneficiary designation and spousal consent shall become invalid on the first day of the Plan Year in which the Member attains age thirty-five (35) (unless the Member incurs a Termination of Employment before such time). A Member may then file
another such Beneficiary designation form with spousal consent in accordance with this subsection. Any designation of a non-spouse Beneficiary may be revoked or changed by the Member by a subsequent designation made in accordance with this section
prior to the Member’s Annuity Starting Date. The designation may be revoked but not changed without the consent of the Spouse. The Spouse may not revoke a consent to a valid Beneficiary designation. This paragraph shall not apply to a Member
who has reached his or her Annuity Starting Date. 
 The Plan Administrator shall provide to the Member a written explanation
of: 
 (1) The terms and conditions of the Qualified Pre-Retirement Survivor Annuity and the Qualified Optional Survivor
Annuity; 

  
 54 

 (2) The availability of the designation provided by this subsection and the effect of
making such a designation; 
 (3) The rights of the Spouse of the Member; and 

(4) The right to revoke a previous designation and the effect of such a revocation. 

Such notice may be furnished by any means that conform to the requirements of ERISA during whichever of the following periods ends last:

 (i) the period beginning on the first day of the Plan Year in which the Member attains age thirty-two (32) and ending
on the first day of the Plan Year in which the Member attains age thirty-five (35); and 
 (ii) the period beginning one year
before the Employee becomes a Member and ending one year after he or she becomes a Member; 
 provided that, in the case of a Member who incurs
a Termination of Employment before attaining age thirty-five (35), such notice shall be furnished to such Member during the period beginning one year before the Member’s Termination of Employment and ending one year after the Member’s
Termination of Employment. 
 If fifty percent (50%) of the Member’s vested Account balance does not exceed the amount
specified in Section 9.02, the Plan Administrator shall direct the distribution of such amount to the surviving Spouse in a single lump sum payment in lieu of the annuity. 

A surviving Spouse entitled to receive an annuity pursuant to this subsection may elect to receive the benefit in a lump sum cash payment
in lieu of the annuity. 
 A surviving Spouse entitled to receive an annuity pursuant to this subsection may direct that
payments under the annuity commence within a reasonable time after the death of the Member. 
 The portion of the amount
credited to a Member’s Prior Plan Employer Match Account that is not payable in the form of a Pre-Retirement Survivor Annuity pursuant to the foregoing shall be distributed to the Beneficiary in one lump sum payment. 

  
 55 

 AMENDMENT NO. 16 

TO THE 

ENERGIZER HOLDINGS, INC. 
 SAVINGS INVESTMENT PLAN 
 WHEREAS, Energizer Holdings, Inc. (“Company”) adopted
the Energizer Holdings, Inc. Savings Investment Plan (“Plan”) effective as of April 1, 2000; and 
 WHEREAS, the Plan has been
amended from time to time most recently in the form of anamendment and complete restatement effective as of January 1, 2010 (Amendment No. 15) to provide, among other things, for the incorporation of Amendments No. 11, 12, 13 and 14
into the document and to make certain changes to the SIP to reflect the redesign of the Energizer Holdings, Inc. Retirement Plan effective January 1, 2010, including removal of all references to After-Tax Matched Contributions; and 

WHEREAS, the Energizer Plans Administrative Committee (“EPAC”) has been delegated the authority to amend the Plan document; and 

WHEREAS, EPAC desires to amend the Plan to provide. among other things, rules for beneficiary determinations and related issues upon divorce of a member,
simultaneous death of a member and beneficiary, the death of a member resulting from a criminal act of a beneficiary, a minor having been named as a beneficiary and a member dying without a valid beneficiary designation on file with the Plan
Administrator; 
 NOW. THEREFORE, the Plan is hereby amended, effective as of January 1, 2011, as follows: 

I. 
 Section 10.02 is
amended by adding the following to the end of said Section: 
 “Unless the Member has indicated otherwise on the beneficiary designation,
any designation of a beneficiary identified as the Member’s Spouse shall be deemed revoked by the divorce of the Member and such Beneficiary. Such revocation shall be effective any time before payment of benefits to such former Spouse upon
receipt of acceptable documentary evidence of divorce, delivered to the Plan’s record keeper and/or Plan Administrator. The Plan’s record keeper and/or Plan Administrator are not responsible for any payment or transfer to an ex-spouse
Beneficiary in the absence of such documentation. Not withstanding anything to the contrary stated in this section, any domestic relations order submitted to and qualified by the Plan’s record keeper and/or the Plan Administrator at any time
prior to the final transfer and/or payment of the Member’s account shall be deemed to constitute such acceptable documentary evidence of divorce. 
 If a Beneficiary dies within 120 hours of a Member, the Beneficiary will not be entitled to the Member’s account. To be entitled to receive any undistributed amounts credited to the Member’s
account at the Participant’s death, any person(s) designated as a Beneficiary (ies) must be alive and any entity designated as a Beneficiary must be in existence at the time of the Member’s death.

 
In the event that the order of deaths of the Member and any Beneficiary cannot be determined or have occurred within 120 hours of each other, the Member shall be deemed to have survived the
Beneficiary. 
 In the event the death of a Member or any Beneficiary is the result of a criminal act involving any Beneficiary (or other
Beneficiary, as applicable), a person convicted of such criminal act shall not be entitled to receive any undistributed amounts credited to the Member’s account. 
 As long as a Beneficiary remains a minor, an inherited account opened for such Beneficiary shall be controlled by such person(s) demonstrated to the Plan Administrators satisfaction to be authorized to
act on behalf of the minor. The minor’s representative may be the court-appointed guardian or conservator, or a person named to serve as the minor’s representative in the Member’s last will and testament admitted to probate, or other
person deemed by the Plan Administrator to be authorized to act for the minor. A minor is a person who has not yet reached the age of majority for the ownership of investments under the law of the state of the minor’s domicile. A for merminor
may request that the inherited account be transferred to him or her at any time after attaining the age of majority.” 
 II.

 Section 10.04 of the Plan is deleted in its entirety and replaced with the following: 

“Section 10.04—Payments in the Event of Death with no Designated Survivor In the event of (a) the death of a Member or Beneficiary not
survived by a person designated to receive any payment. then due or (b) no Beneficiary being designated, the Plan Administrator shall direct that any benefits payment due him or her shall be paid to his or her Spouse, if living, and if there is
no surviving Spouse, then to the Member’s or Beneficiarv’s estate.” 
 IN WITNESS WHEREOF, EPAC has caused
this Amendment No. 16 to the Plan to be executed on behalf of the Company by a duly authorized member of EPAC this
5th day of December, 2011. 

ENERGIZER HOLDINGS, INC. 
 By: /s/ Peter J.
Conrad 
 Name: Peter J. Conrad 

Title: Vice President, Human Resources

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00210-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00210-of-00352.parquet"}]]