Document:

EX-10.6

 Exhibit 10.6 

Execution Version 
  

 
  

AMENDED AND RESTATED CREDIT AGREEMENT 

DATED AS OF NOVEMBER 15, 2013 

AMONG 
 THE JONES
FINANCIAL COMPANIES, L.L.L.P., 
 as Borrower, 

THE LENDERS LISTED HEREIN, 

as Lenders, 
 WELLS FARGO
BANK, NATIONAL ASSOCIATION, 
 as Administrative Agent and Swing Line Lender 

BANK OF AMERICA, N.A., 

as Syndication Agent, 

and 
 FIFTH THIRD BANK,

 JPMORGAN CHASE BANK, N.A. 

and 
 U.S. BANK NATIONAL
ASSOCIATION, 
 each as a Documentation Agent 
  

 
  

 
 WELLS FARGO SECURITIES, LLC 

and 
 MERRILL LYNCH,
PIERCE, FENNER & SMITH INCORPORATED, 
 as Joint Lead Arrangers and Joint Bookrunners 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
			
	SECTION 1.	 	     DEFINITIONS
	  	 	1	  
			
	1.1	 	 Certain Defined Terms
	  	 	1	  
			
	1.2	 	 Accounting Terms; Utilization of GAAP for Purposes of Calculations Under Agreement
	  	 	24	  
			
	1.3	 	 Other Definitional Provisions and Rules of Construction
	  	 	25	  
			
	1.4	 	 Rounding
	  	 	25	  
			
	1.5	 	 Amendment and Restatement
	  	 	26	  
			
	SECTION 2.	 	     AMOUNTS AND TERMS OF LOANS
	  	 	27	  
			
	2.1	 	 Loans; Making of Loans; the Register; Optional Notes
	  	 	27	  
			
	2.2	 	 Interest on the Loans
	  	 	33	  
			
	2.3	 	 Fees
	  	 	36	  
			
	2.4	 	 Repayments, Prepayments and Reductions of Revolving Loan Commitment Amount; General Provisions Regarding Payments
	  	 	36	  
			
	2.5	 	 Use of Proceeds
	  	 	40	  
			
	2.6	 	 Special Provisions Governing Loans based on the Eurodollar Rate
	  	 	40	  
			
	2.7	 	 Increased Costs; Taxes; Capital Adequacy
	  	 	43	  
			
	2.8	 	 Statement of Lenders; Obligation of Lenders to Mitigate
	  	 	49	  
			
	2.9	 	 Replacement of a Lender
	  	 	49	  
			
	  2.10	 	 Increase in Commitments
	  	 	50	  
			
	  2.11	 	 Defaulting Lenders
	  	 	51	  
			
	SECTION 3.	 	     CONDITIONS TO LOANS
	  	 	53	  
			
	3.1	 	 Conditions to Closing
	  	 	53	  
			
	3.2	 	 Conditions to Closing; All Loans
	  	 	55	  
			
	SECTION 4.	 	     REPRESENTATIONS AND WARRANTIES
	  	 	56	  
			
	4.1	 	 Organization, Powers, Qualification, Good Standing, Business and Subsidiaries
	  	 	56	  
			
	4.2	 	 Authorization of Borrowing, etc.
	  	 	57	  
			
	4.3	 	 Financial Condition
	  	 	57	  
			
	4.4	 	 No Material Adverse Change
	  	 	58	  
			
	4.5	 	 Title to Properties; Intellectual Property
	  	 	58	  
			
	4.6	 	 Litigation; Adverse Facts
	  	 	58	  

  
 -i- 

 TABLE OF CONTENTS 

(continued) 
  

							
	 	 	 	  	Page	 
			
	4.7	 	 Payment of Taxes
	  	 	59	  
			
	4.8	 	 Governmental Regulation; Licenses
	  	 	59	  
			
	4.9	 	 Securities Activities
	  	 	59	  
			
	  4.10	 	 Employee Benefit Plans
	  	 	60	  
			
	  4.11	 	 Environmental Protection
	  	 	60	  
			
	  4.12	 	 Solvency
	  	 	61	  
			
	  4.13	 	 Disclosure
	  	 	61	  
			
	  4.14	 	 Foreign Assets Control Regulations, etc.
	  	 	61	  
			
	SECTION 5.	 	     AFFIRMATIVE COVENANTS
	  	 	62	  
			
	5.1	 	 Financial Statements and Other Reports
	  	 	62	  
			
	5.2	 	 Existence, etc.
	  	 	65	  
			
	5.3	 	 Payment of Taxes and Claims
	  	 	66	  
			
	5.4	 	 Maintenance of Properties; Insurance
	  	 	66	  
			
	5.5	 	 Inspection Rights; Books and Records
	  	 	66	  
			
	5.6	 	 Compliance with Laws, etc.
	  	 	67	  
			
	5.7	 	 Environmental Matters
	  	 	67	  
			
	5.8	 	 Foreign Assets Control Regulations, Anti-Corruption Laws
	  	 	68	  
			
	SECTION 6.	 	     NEGATIVE COVENANTS
	  	 	68	  
			
	6.1	 	 Indebtedness
	  	 	68	  
			
	6.2	 	 Liens and Related Matters
	  	 	70	  
			
	6.3	 	 Investments; Acquisitions
	  	 	72	  
			
	6.4	 	 Fiscal Year
	  	 	74	  
			
	6.5	 	 Restricted Payments
	  	 	74	  
			
	6.6	 	 Financial Covenants
	  	 	75	  
			
	6.7	 	 Restriction on Fundamental Changes; Asset Sales
	  	 	75	  
			
	6.8	 	 Transactions with Affiliates
	  	 	76	  
			
	6.9	 	 Sale and Lease-Backs
	  	 	77	  
			
	  6.10	 	 Conduct of Business
	  	 	77	  
			
	  6.11	 	 Limitations on Co-Issuer Subsidiaries
	  	 	77	  
			
	  6.12	 	 Foreign Assets Control Regulations, Anti-Corruption Laws
	  	 	77	  

  
 -ii- 

 TABLE OF CONTENTS 

(continued) 
  

							
	 	 	 	  	Page	 
			
	SECTION 7.	 	     EVENTS OF DEFAULT
	  	 	78	  
			
	7.1	 	 Failure to Make Payments When Due
	  	 	78	  
			
	7.2	 	 Default in Other Agreements
	  	 	78	  
			
	7.3	 	 Breach of Certain Covenants
	  	 	78	  
			
	7.4	 	 Breach of Warranty
	  	 	78	  
			
	7.5	 	 Other Defaults Under Loan Documents
	  	 	79	  
			
	7.6	 	 Involuntary Bankruptcy; Appointment of Receiver, etc.
	  	 	79	  
			
	7.7	 	 Voluntary Bankruptcy; Appointment of Receiver, etc.
	  	 	79	  
			
	7.8	 	 Judgments and Attachments
	  	 	79	  
			
	7.9	 	 Dissolution
	  	 	80	  
			
	  7.10	 	 Employee Benefit Plans
	  	 	80	  
			
	  7.11	 	 Change in Control
	  	 	80	  
			
	  7.12	 	 SIPC
	  	 	80	  
			
	  7.13	 	 Broker-Dealer License
	  	 	80	  
			
	  7.14	 	 Invalidity of Loan Documents; Repudiation of Obligations
	  	 	80	  
			
	SECTION 8.	 	     ADMINISTRATIVE AGENT
	  	 	81	  
			
	8.1	 	 Appointment
	  	 	81	  
			
	8.2	 	 Powers and Duties; General Immunity
	  	 	82	  
			
	8.3	 	 Independent Investigation by Lenders; No Responsibility For Appraisal of Creditworthiness
	  	 	83	  
			
	8.4	 	 Right to Indemnity
	  	 	84	  
			
	8.5	 	 Resignation of the Administrative Agent; Successor Administrative Agent and Swing Line Lender
	  	 	84	  
			
	8.6	 	 Administrative Agent May File Proofs of Claim
	  	 	85	  
			
	8.7	 	 No Other Duties, etc.
	  	 	86	  
			
	SECTION 9.	 	     MISCELLANEOUS
	  	 	86	  
			
	9.1	 	 Successors and Assigns; Assignments and Participations in Loans
	  	 	86	  
			
	9.2	 	 Expenses
	  	 	89	  
			
	9.3	 	 Indemnity
	  	 	90	  
			
	9.4	 	 Set-Off
	  	 	91	  
			
	9.5	 	 Ratable Sharing
	  	 	91	  

  
 -iii- 

 TABLE OF CONTENTS 

(continued) 
  

							
	 	 	 	  	Page	 
			
	9.6	 	 Amendments and Waivers
	  	 	92	  
			
	9.7	 	 Independence of Covenants
	  	 	93	  
			
	9.8	 	 Notices; Effectiveness of Signatures; Posting on Electronic Delivery Systems
	  	 	93	  
			
	9.9	 	 Survival of Representations, Warranties and Agreements
	  	 	95	  
			
	  9.10	 	 Failure or Indulgence Not Waiver; Remedies Cumulative
	  	 	95	  
			
	  9.11	 	 Payments Set Aside
	  	 	96	  
			
	  9.12	 	 Severability
	  	 	96	  
			
	  9.13	 	 Obligations Several; Independent Nature of Lenders’ Rights; Damage Waiver
	  	 	96	  
			
	  9.14	 	 Applicable Law
	  	 	97	  
			
	  9.15	 	 Construction of Agreement; Nature of Relationship
	  	 	97	  
			
	  9.16	 	 Consent to Jurisdiction and Service of Process
	  	 	97	  
			
	  9.17	 	 Waiver of Jury Trial
	  	 	98	  
			
	  9.18	 	 Confidentiality
	  	 	98	  
			
	  9.19	 	 Counterparts; Effectiveness
	  	 	99	  
			
	  9.20	 	 USA Patriot Act
	  	 	100	  
			
	  9.21	 	 Independent Effect of Covenants
	  	 	100	  

  
 -iv- 

 EXHIBITS 
  

			
	I	  	FORM OF NOTICE OF BORROWING
		
	II	  	FORM OF NOTICE OF CONVERSION/CONTINUATION
		
	III	  	FORM OF REVOLVING NOTE
		
	IV	  	FORM OF SWING LINE NOTE
		
	V	  	FORM OF COMPLIANCE CERTIFICATE
		
	VI	  	FORM OF ASSIGNMENT AGREEMENT

 SCHEDULES 
  

			
	2.1	  	LENDERS’ COMMITMENTS AND PRO RATA SHARES
		
	4.1	  	SUBSIDIARIES
		
	4.6	  	LITIGATION
		
	6.1	  	CERTAIN EXISTING INDEBTEDNESS
		
	6.2A	  	CERTAIN EXISTING LIENS
		
	6.2C	  	AGREEMENTS WITH RESTRICTIONS ON SUBSIDIARIES
		
	6.3	  	CERTAIN EXISTING AND PERMITTED INVESTMENTS
		
	6.7	  	CERTAIN ASSET DISPOSITIONS
		
	6.8	  	CERTAIN AFFILIATE TRANSACTIONS
		
	6.9	  	CERTAIN SALE AND LEASE-BACKS
		
	9.8	  	NOTICE ADDRESSES

  
 ii 

 THE JONES FINANCIAL COMPANIES, L.L.L.P. 

AMENDED AND RESTATED CREDIT AGREEMENT 

This AMENDED AND RESTATED CREDIT AGREEMENT is dated as of November 15, 2013 and entered into by and among THE JONES FINANCIAL COMPANIES,
L.L.L.P., a Missouri limited liability limited partnership (the “Borrower”), THE FINANCIAL INSTITUTIONS LISTED ON THE SIGNATURE PAGES HEREOF (each individually referred to herein as a “Lender” and collectively as
“Lenders”), and WELLS FARGO BANK, NATIONAL ASSOCIATION (“Wells Fargo”), as administrative agent for the Lenders (in such capacity, “Administrative Agent”). 

R E C I T A L S 

WHEREAS, the Administrative Agent, the Lenders and the Borrower entered into that certain Credit Agreement, dated as of March 18,
2011 (as amended prior to the date hereof, the “Existing Credit Agreement”). Under the Existing Credit Agreement, the Lenders, among other things, made available to the Borrower a certain revolving credit facility. 

WHEREAS, the parties hereto have agreed to amend and restate the Existing Credit Agreement in its entirety as set forth in this
Agreement. 
 WHEREAS, the Lenders, at the request of the Borrower, have agreed to extend a revolving credit facility to the
Borrower, the proceeds of which will be used to provide financing for working capital and other general corporate purposes of the Borrower and its Subsidiaries; 

NOW, THEREFORE, in consideration of the premises and the agreements, provisions and covenants herein contained, the Borrower, the
Lenders and the Administrative Agent agree to amend and restate the Existing Credit Agreement in its entirety as follows: 
 SECTION 1. DEFINITIONS

 1.1 Certain Defined Terms. 

The following terms used in this Agreement shall have the following meanings: 

“Administrative Agent” has the meaning assigned to that term in the introduction to this Agreement and also means and
includes any successor Administrative Agent appointed pursuant to Subsection 8.5A. 
 “Administrative Questionnaire”
means an Administrative Questionnaire in a form supplied by the Administrative Agent. 
 “Advisers Act” means the
Investment Advisers Act of 1940, as amended. 
 “Affected Lender” has the meaning assigned to that term in Subsection
2.6C. 
 “Affected Loans” has the meaning assigned to that term in Subsection 2.6C. 

 “Affiliate”, as applied to any Person, means any other Person directly or
indirectly Controlling, Controlled by or under common Control with, that Person; provided, however, that the term “Affiliate” with respect to the Borrower and its Subsidiaries shall specifically exclude the Administrative
Agent and each Lender. 
 “Agreement” means this Credit Agreement. 

“Anti-Corruption Laws” means the United States Foreign Corrupt Practices Act of 1977, as amended, and all similar laws,
rules, and regulations of any jurisdiction applicable to the Borrower or any Subsidiary from time to time. 
 “Applicable
Margin” means the corresponding percentages per annum as set forth below based on the Leverage Ratio: 
  

															
	 Pricing Level
	  	 Leverage Ratio
	  	Eurodollar
Rate Margin	 	 	Base Rate
Margin	 	 	Commitment
Fee	 
	 I
	  	Less than or equal to 10.0%	  	 	1.25	% 	 	 	0.25	% 	 	 	0.150	% 
	 II
	  	Greater than 10.0%, but less than or equal to 20.0%	  	 	1.375	% 	 	 	0.375	% 	 	 	0.175	% 
	 III
	  	Greater than 20.0%, but less than or equal to 30.0%	  	 	1.625	% 	 	 	0.625	% 	 	 	0.225	% 
	 IV
	  	Greater than 30.0%	  	 	2.00	% 	 	 	1.00	% 	 	 	0.300	% 

 The Applicable Margin shall be determined and adjusted quarterly on the date (each a “Calculation
Date”) ten (10) Business Days after the day by which the Borrower is required to provide a Compliance Certificate pursuant to Subsection 5.1(iv) for the most recently ended Fiscal Quarter; provided that (i) such
Applicable Margin shall be based on Pricing Level I until the first Calculation Date occurring after the Closing Date and, thereafter the Pricing Level shall be determined by reference to the Leverage Ratio as of the last day of the most recently
ended Fiscal Quarter of the Borrower preceding the applicable Calculation Date, and (ii) if the Borrower fails to provide the Compliance Certificate as required by Subsection 5.1(iv) for the most recently ended Fiscal Quarter of the
Borrower preceding the applicable Calculation Date, the Applicable Margin from such Calculation Date shall be based on Pricing Level IV until such time as an appropriate Compliance Certificate is provided, at which time the Pricing Level shall be
determined by reference to the Leverage Ratio as of the last day of the most recently ended Fiscal Quarter of the Borrower preceding such Calculation Date. The Applicable Margin shall be effective from one Calculation Date until the next Calculation
Date. Any adjustment in the Applicable Margin shall be applicable to all Loans then existing or subsequently made or issued. Notwithstanding the foregoing, in the event that any financial statement or Compliance

  
 2 

 
Certificate delivered pursuant to Subsection 5.1 is shown to be inaccurate, and such inaccuracy, if corrected, would have led to the application of (A) a higher Applicable Margin for
any period (an “Applicable Period”) than the Applicable Margin applied for such Applicable Period, then (x) the Borrower shall immediately deliver to the Administrative Agent a corrected Compliance Certificate for such
Applicable Period, (y) the Applicable Margin for such Applicable Period shall be determined as if the Leverage Ratio in the corrected Compliance Certificate were applicable for such Applicable Period, and (z) the Borrower shall immediately
and retroactively be obligated to pay to the Administrative Agent the accrued additional interest and fees owing as a result of such increased Applicable Margin for such Applicable Period, which payment shall be promptly applied by the
Administrative Agent in accordance with Subsection 2.4B or (B) a lower Applicable Margin for the Applicable Period than the Applicable Margin applied for such Applicable Period, then (x) the Borrower shall immediately deliver to the
Administrative Agent a corrected Compliance Certificate for such Applicable Period and (y) the Applicable Margin shall be adjusted in accordance with such corrected Compliance Certificate on the date that the Administrative Agent receives such
corrected Compliance Certificate notwithstanding that such date is not otherwise a Calculation Date, and such adjusted Applicable Margin shall remain in effect until otherwise required to be modified hereunder. Nothing in this paragraph shall limit
the rights of the Administrative Agent and Lenders with respect to Subsection 2.2E or 7 or any of their other rights under this Agreement. The Borrower’s obligations under this paragraph shall survive the termination of the
Commitments and the repayment of all other Obligations hereunder. 
 “Approved Fund” means a Fund that is
administered or managed by (i) a Lender, (ii) an Affiliate of a Lender or (iii) an entity or an Affiliate of an entity that administers or manages a Lender. 

“Assignment Agreement” means an Assignment and Assumption Agreement in substantially the form of Exhibit
VI. 
 “Attributable Debt” means, on any date of determination, (a) in respect of any Capital Lease
of any Person, the capitalized amount thereof that would appear on a balance sheet of such Person prepared as of such date in accordance with GAAP, and (b) in respect of any Synthetic Lease, the capitalized amount or principal amount of the
remaining lease payments under the relevant lease that would appear on a balance sheet of such Person prepared as of such date in accordance with GAAP if such lease were accounted for as a Capital Lease. 

“Bankruptcy Code” means Title 11 of the United States Code entitled “Bankruptcy”, as now and
hereafter in effect, or any successor statute. 
 “Base Rate” means, at any time, the highest of (a) the Prime Rate,
(b) the Federal Funds Effective Rate plus 1.00% and (c) except during any period of time during which a notice delivered to the Borrower under Subsection 2.6 shall remain in effect, the Eurodollar Rate for an Interest Period of one
month plus 1%; each change in the Base Rate shall take effect simultaneously with the corresponding change or changes in the Prime Rate, the Federal Funds Effective Rate or the Eurodollar Rate. 

  
 3 

 “Base Rate Loans” means Loans bearing interest at rates determined
by reference to the Base Rate as provided in Subsection 2.2A. 
 “Base Rate Margin” means the margin
over the Base Rate used in determining the rate of interest of Base Rate Loans in accordance with the definition of Applicable Margin. 

“Borrower” has the meaning assigned to that term in the introduction to this Agreement. 

“Business Day” means (i) any day excluding Saturday, Sunday and any day which is a legal holiday under the
laws of the State of New York or is a day on which banking institutions located in such state are authorized or required by law or other governmental action to close and (ii) with respect to all notices, determinations, fundings and payments in
connection with the Eurodollar Rate or any Eurodollar Rate Loans or the Base Rate or any Base Rate Loans as to which the interest rate is determined by reference to the Eurodollar Rate, any day that is a Business Day described in clause
(i) above and that is also a day for trading by and between banks in Dollar deposits in the London interbank market. 

“Capital Lease”, as applied to any Person, means any lease of any property (whether real, personal or mixed) by that Person
as lessee that, in conformity with GAAP, is accounted for as a capital lease on the balance sheet of that Person. 
 “Capital
Stock” means the capital stock of or other equity interests in a Person. 
 “Cash
Equivalents” means, collectively, (a) marketable direct obligations issued or unconditionally guaranteed by the United States or Canada or any agency thereof maturing within one hundred twenty (120) days from the date of
acquisition thereof, (b) commercial paper maturing no more than one hundred twenty (120) days from the date of creation thereof and currently having the highest rating obtainable from either S&P or Moody’s, (c) certificates
of deposit maturing no more than one hundred twenty (120) days from the date of creation thereof issued by commercial banks incorporated under the laws of the United States or Canada, each having combined capital, surplus and undivided profits
of not less than $500,000,000 and having a long term rating of “A” (or its equivalent) or better by a nationally recognized rating agency, or (d) time deposits maturing no more than thirty (30) days from the date of creation
thereof with commercial banks or savings banks or savings and loan associations each having membership either in the FDIC or CDIC, or the deposits of which are insured by the FDIC or CDIC and in amounts not exceeding the maximum amounts of insurance
thereunder, (e) repurchase obligations with a term of not more than one hundred twenty (120) days for underlying securities of the types described in clause (a) above entered into with a Lender or a bank meeting the qualifications
described in clause (c) above, and (f) investments in money market funds substantially all of whose assets are comprised of securities of the types described in clauses (a) through (e) above. 

“CDIC” means the Canada Deposit Insurance Corporation or any successor entity. 

“CEA” means the Commodity Exchange Act, as amended from time to time. 

  
 4 

 “Change in Control” means any of the following: 

(a) Current Owners shall collectively cease to, directly or indirectly, (i) own and control at least 51% of the outstanding equity
interests of the Borrower owned by them on the Closing Date or (ii) possess the right to elect (through contract, ownership of voting securities or otherwise) at all times the managing partner (or similar designation) of the Borrower and to
direct the management policies and decisions of the Borrower; 
 (b) any Person or “group” (within the meaning of Rules 13d-3 and
13d-5 under the Securities Exchange Act of 1934 as in effect on the Closing Date) other than Current Owners shall have acquired a greater beneficial ownership in the Borrower’s voting equity interests than that held collectively by Current
Owners; 
 (c) the Borrower shall cease to, directly or indirectly, own and control 100% of each class of the outstanding equity interests
of Edward Jones; or 
 (d) there shall have occurred under any indenture, credit agreement or other instrument evidencing Indebtedness of
the Borrower or any of its Subsidiaries (other than Swap Contracts and surety bonds and similar instruments) any “change of control” or similar provision (as set forth in the indenture, credit agreement or other evidence of such
Indebtedness) obligating the Borrower or any of its Subsidiaries to repurchase, redeem or repay all or any part of the Indebtedness provided for therein. 

“Change in Law” means the occurrence, after the date of this Agreement, of any of the following: (a) the
adoption or taking effect of any law, rule, regulation, treaty or order, (b) any change in any law, rule, regulation or treaty or in the administration, interpretation or application thereof by any Government Authority, (c) any
determination of a court or other Government Authority or (d) the making or issuance of any request, rule, guideline or directive (whether or not having the force of law) by any Government Authority; provided that notwithstanding anything
herein to the contrary, each of (x) the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 and all requests, rules, guidelines or directives thereunder or issued in connection therewith, and (y) all requests, rules,
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 be deemed to be a “Change in Law”, regardless of the date enacted, adopted or issued. 
 “Changes in
Partnership Capital” means, as of the last day of any Fiscal Quarter, an amount equal to (a) all “Issuances of partnership interests” during such Fiscal Quarter less (b) all “Redemptions of partnership
interests” during such Fiscal Quarter, in each case, as such amounts are set forth in the financial statements of the Borrower and its Subsidiaries for such Fiscal Quarter as delivered pursuant to Subsection 5.1. 

“Chapter 100 Transaction” means any sale and lease-back transaction now, heretofore or hereafter entered into
by any Subsidiary of the Borrower with St. Louis County, Missouri, pursuant to Chapter 100 of the Revised Statutes of the State of Missouri, including the granting of any Lien encumbering such Subsidiary’s leasehold interest in and to any
property subject to any such sale-leaseback transaction or any other rights of such Subsidiary in connection therewith. 

  
 5 

 “Closing Date” means the date on which the conditions precedent
set forth in Subsection 3.1 have been satisfied. 
 “Co-Issuer Subsidiary” means any Subsidiary, 100%
of the Capital Stock of which is owned directly by the Borrower, which Subsidiary is formed by the Borrower after the Closing Date to act solely as a co-issuer with the Borrower on certain post-Closing Date issuances of Indebtedness permitted
pursuant to Subsection 6.1(xii). 
 “Commission” means the Securities and Exchange Commission and any
successor entity. 
 “Commitments” means the commitments of the Lenders to make Loans as set forth in Subsection
2.1A. 
 “Compliance Certificate” means a certificate substantially in the form of Exhibit V. 

“Consolidated Total Debt” means, as of any date of determination, the aggregate stated balance sheet amount of
all Indebtedness of the Borrower and its Subsidiaries, determined on a consolidated basis in accordance with GAAP. 

“Contingent Obligation”, as applied to any Person, means any direct or indirect liability, contingent or
otherwise, of that Person (i) with respect to any Indebtedness, lease, dividend or other obligation of another if the primary purpose or intent thereof by the Person incurring the Contingent Obligation is to provide assurance to the obligee of
such obligation of another that such obligation of another will be paid or discharged, or that any agreements relating thereto will be complied with, or that the holders of such obligation will be protected (in whole or in part) against loss in
respect thereof or (ii) with respect to any letter of credit issued for the account of that Person or as to which that Person is otherwise liable for reimbursement of drawings. Contingent Obligations shall include (a) the direct or
indirect guaranty, endorsement (otherwise than for collection or deposit in the ordinary course of business), co-making, discounting with recourse or sale with recourse by such Person of the obligation of another, (b) the obligation to make
take-or-pay or similar payments if required regardless of non-performance by any other party or parties to an agreement, and (c) any liability of such Person for the obligation of another through any agreement (contingent or otherwise)
(1) to purchase, repurchase or otherwise acquire such obligation or any security therefor, or to provide funds for the payment or discharge of such obligation (whether in the form of loans, advances, stock purchases, capital contributions or
otherwise) or (2) to maintain the solvency or any balance sheet item, level of income or financial condition of another if, in the case of any agreement described under subclauses (1) or (2) of this sentence, the primary purpose or
intent thereof is as described in the preceding sentence. The amount of any Contingent Obligation shall be equal to the amount of the obligation so guaranteed or otherwise supported or, if less, the amount to which such Contingent Obligation is
specifically limited. 

  
 6 

 “Contractual Obligation”, as applied to any Person, means any
provision of any Security issued by that Person or of any indenture, mortgage, deed of trust, contract, undertaking, agreement or other instrument to which that Person is a party or by which it or any of its properties is bound or to which it or any
of its properties is subject. 
 “Control”, as applied to any Person, means the possession, directly or
indirectly, of the power to direct or cause the direction of the management and policies of that Person, whether through the ownership of voting securities or by contract or otherwise. “Controlling”, “controlled by” and
“under common control with” have correlative meanings. 
 “Current Owners” means collectively all
of the general partners of the Borrower as of the date of this Agreement. 
 “Defaulting Lender” means any
Lender that (a) has failed to fund any portion of the Revolving Loans or any participations in Swing Line Loans required to be funded by it hereunder within one Business Day of the date required to be funded by it hereunder unless such Lender
notifies the Administrative Agent and the Borrower in writing that such failure is the result of such Lender’s determination that one or more conditions precedent to funding (each of which conditions precedent, together with any applicable
Event of Default, shall be specifically identified in such writing) has not been satisfied, (b) has otherwise failed to pay over to the Administrative Agent or any other Lender any other amount required to be paid by it hereunder within one
Business Day of the date when due, unless the subject of a good faith dispute, (c) has notified the Borrower, the Administrative Agent or any other Lender in writing that it does not intend to comply with any of its funding obligations under
this Agreement or has made a public statement to the effect that it does not intend to comply or has failed to comply with its funding obligations under this Agreement or under other agreements in which it commits or is obligated to extend credit
(unless such writing or public statement relates to the Lenders’ obligation to fund a Loan hereunder and states that such position is based on such Lender’s determination that a condition precedent to funding (which condition precedent,
together with any applicable default, shall be specifically identified in such writing or public statement) cannot be satisfied), or (d) has, or has a parent company that has, (i) been adjudicated as, or determined by any Government
Authority having regulatory authority over such Person or its assets to be, insolvent or (ii) become the subject of a bankruptcy, receivership, insolvency or comparable proceeding or has had a receiver, conservator, trustee or custodian
appointed for it or has taken any action in furtherance of, or indicating its consent to, approval of 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 such Lender or a parent company thereof by a Government 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 permit such Lender (or such Government Authority) to reject, repudiate, disavow or disaffirm any contracts or agreements made with such Lender. Any determination by
the Administrative Agent that a Lender is a Defaulting Lender under any one or more of clauses (a) through (d) above shall be conclusive and binding absent manifest error, and such Lender shall be deemed to be a Defaulting Lender upon
delivery of written notice of such determination to the Borrower, the Swing Line Lender and each Lender. 

  
 7 

 “Disqualified Capital Stock” means any Capital Stock of any Person
that by its terms (or by the terms of any security into which it is convertible or for which it is exchangeable at the option of the holder thereof) or upon the happening of any event (a) matures or is mandatorily redeemable pursuant to a
sinking fund obligation or otherwise, (b) is redeemable at the option of the holder thereof, in whole or in part, or (c) requires or mandates payments or distributions in cash, in each case on or prior to the Revolving Loan Commitment
Termination Date. The term “Disqualified Capital Stock” shall also include any options, warrants or other rights that are convertible into any Disqualified Capital Stock or that are redeemable at the option of the holder, or
required to be redeemed, prior to the Revolving Loan Commitment Termination Date, but shall exclude the Borrower’s Capital Stock in the form of Partnership Capital with terms and conditions substantially similar to those in effect on the
Closing Date. 
 “Dollars” and the sign “$” mean the lawful money of the United States. 

“Early Requested Swing Line Loan” has the meaning set forth in Subsection 2.1B. 

“EDJ Leasing” means EDJ Leasing Co., L.P., a Missouri limited partnership and a Subsidiary of the Borrower. 

“Edward Jones” means Edward D. Jones & Co., L.P., a Missouri limited partnership and a Subsidiary of the Borrower.

 “Eligible Assignee” means (i) a Lender, (ii) an Affiliate of a Lender, (iii) an Approved
Fund and (iv) any other Person (other than a natural person) approved by (A) the Administrative Agent, (B) in the case of any assignment of a Revolving Loan Commitment, the Swing Line Lender and (C) unless an Event of Default has
occurred and is continuing at the time any assignment is effected in accordance with Subsection 9.1, the Borrower (in each case, each such approval not to be unreasonably withheld or delayed); provided, that notwithstanding the
foregoing, “Eligible Assignee” shall not include the Borrower or any of the Borrower’s Affiliates or Subsidiaries. 

“Employee Benefit Plan” means any “employee benefit plan”, as defined in Section 3(3) of ERISA,
which is or was maintained or contributed to by the Borrower, any of its Subsidiaries or any of their respective ERISA Affiliates. 

“Environmental Claim” means any investigation, written notice, written notice of violation, written claim,
action, suit, proceeding, demand, abatement order or other order or directive (conditional or otherwise), by any Government Authority or any other Person, arising (i) pursuant to or in connection with any actual or alleged violation of any
Environmental Law, (ii) in connection with any Hazardous Materials or any actual or alleged Hazardous Materials Activity or (iii) in connection with any actual or alleged damage, injury, threat or harm to health, safety, natural resources
or the environment. 
 “Environmental Laws” means any and all current or future statutes, ordinances, orders,
rules, regulations, judgments, Governmental Authorizations, or any other requirements of any Government Authority relating to (i) environmental matters, including those relating to any Hazardous Materials Activity, (ii) the generation,
use, storage, transportation or disposal of 

  
 8 

 
Hazardous Materials or (iii) occupational safety and health, industrial hygiene or the protection of human, plant or animal health or welfare, in any manner applicable to the Borrower or any
of its Subsidiaries or any of their respective properties. 
 “ERISA” means the Employee Retirement Income
Security Act of 1974, as amended from time to time, and any successor thereto. 
 “ERISA Affiliate”, as
applied to any Person, means (i) any corporation that is a member of a controlled group of corporations within the meaning of Section 414(b) of the Internal Revenue Code of which that Person is a member; (ii) any trade or business
(whether or not incorporated) that is a member of a group of trades or businesses under common control within the meaning of Section 414(c) of the Internal Revenue Code of which that Person is a member; and (iii) any member of an
affiliated service group within the meaning of Section 414(m) or (o) of the Internal Revenue Code of which that Person, any corporation described in clause (i) above or any trade or business described in clause (ii) above is a
member. Any former ERISA Affiliate of a Person or any of its Subsidiaries shall continue to be considered an ERISA Affiliate of such Person or such Subsidiary within the meaning of this definition with respect to the period such entity was an ERISA
Affiliate of such Person or such Subsidiary and with respect to liabilities arising after such period for which such Person or such Subsidiary could be liable under the Internal Revenue Code or ERISA. 

“ERISA Event” means (i) a “reportable event” within the meaning of Section 4043 of ERISA
and the regulations issued thereunder with respect to any Pension Plan (excluding those for which the provision for 30-day notice to the PBGC has been waived by regulation); (ii) the failure to meet the minimum funding standard of
Section 412 of the Internal Revenue Code with respect to any Pension Plan (whether or not waived in accordance with Section 412(c) of the Internal Revenue Code) or the failure to make by its due date a required installment under
Section 430 of the Internal Revenue Code with respect to any Pension Plan or the failure to make any required contribution to a Multiemployer Plan; (iii) the provision by the administrator of any Pension Plan pursuant to
Section 4041(a)(2) of ERISA of a notice of intent to terminate such plan in a distress termination described in Section 4041(c) of ERISA; (iv) the withdrawal by the Borrower, any of its Subsidiaries or any of their respective ERISA
Affiliates from any Pension Plan with two or more contributing sponsors or the termination of any such Pension Plan resulting in liability pursuant to Section 4063 or 4064 of ERISA; (v) the institution by the PBGC of proceedings to
terminate any Pension Plan, or the occurrence of any event or condition which could reasonably constitute grounds under ERISA for the termination of, or the appointment of a trustee to administer, any Pension Plan; (vi) the imposition of
liability on the Borrower, any of its Subsidiaries or any 

  
 9 

 
of their respective ERISA Affiliates pursuant to Section 4062(e) or 4069 of ERISA or by reason of the application of Section 4212(c) of ERISA; (vii) the withdrawal of the Borrower,
any of its Subsidiaries or any of their respective ERISA Affiliates in a complete or partial withdrawal (within the meaning of Sections 4203 and 4205 of ERISA) from any Multiemployer Plan if there would be any liability therefor, or the receipt by
the Borrower, any of its Subsidiaries or any of their respective ERISA Affiliates of written notice from any Multiemployer Plan that it is in reorganization or insolvency pursuant to Section 4241 or 4245 of ERISA, or that it intends to
terminate or has terminated under Section 4041A or 4042 of ERISA; (viii) the assertion of a material claim against any Employee Benefit Plan other than a Multiemployer Plan or the assets thereof, or against the Borrower, any of its
Subsidiaries or any of their respective ERISA Affiliates in connection with any Employee Benefit Plan; (ix) receipt from the Internal Revenue Service of notice of the failure of any Pension Plan (or any other Employee Benefit Plan intended to
be qualified under Section 401(a) of the Internal Revenue Code) to qualify under Section 401(a) of the Internal Revenue Code, or the failure of any trust forming part of any Pension Plan to qualify for exemption from taxation under
Section 501(a) of the Internal Revenue Code where such failure would reasonably be expected to result in a Material Adverse Effect; or (x) the imposition of a Lien pursuant to Section 430(k) of the Internal Revenue Code or pursuant to
ERISA with respect to any Pension Plan. With respect to a Multiemployer Plan or a Pension Plan not maintained or contributed to by the Borrower or its Subsidiaries, an event described above shall not be an ERISA Event unless it is reasonably likely
to result in material liability to the Borrower and its Subsidiaries. 
 “Eurodollar Rate” means for any
Interest Period, with respect to a Eurodollar Rate Loan, a rate per annum obtained by dividing (a) the rate of interest per annum determined on the basis of the rate for deposits in Dollars for a period equal to the applicable Interest Period
which appears on Reuters Screen LIBOR01 Page (or any applicable successor page) at approximately 11:00 A.M. (London time) two (2) Business Days prior to the first day of the applicable Interest Period (rounded upward, if necessary, to the
nearest 1/100th of 1%), provided that if, for any reason, such rate does not appear on Reuters Screen LIBOR01 Page (or any applicable successor page), then the arithmetic average of the rate per annum at which deposits in Dollars in minimum amounts
of at least $5,000,000 would be offered by first class banks in the London interbank market to the Administrative Agent at approximately 11:00 A.M. (London time) two (2) Business Days prior to the first day of the applicable Interest Period for
a period equal to such Interest Period, as determined by the Administrative Agent, by (b) one minus the Reserve Percentage in effect on such date. 

For any interest rate calculation with respect to a Base Rate Loan, “Eurodollar Rate” shall mean a rate per annum obtained by
dividing (a) the rate of interest per annum determined on the basis of the rate for deposits in Dollars in minimum amounts of at least $5,000,000 for a period equal to one month (commencing on the date of determination of such interest rate)
which appears on the Reuters Screen LIBOR01 Page (or any applicable successor page) at approximately 11:00 A.M. (London time) on such date of determination, or, if such date is not a Business Day, then the immediately preceding Business Day (rounded
upward, if necessary, to the nearest 1/100th of 1%), provided that if, for any reason, such rate does not appear on Reuters Screen LIBOR01 Page (or any applicable successor page) then the arithmetic average of the rate per annum at which deposits in
Dollars in minimum amounts of at least $5,000,000 would be offered by first class banks in the London interbank market to the Administrative Agent at approximately 11:00 A.M. (London time) on such date of determination for a period equal to one
month commencing on such date of determination, as determined by the Administrative Agent, by (b) one minus the Reserve Percentage in effect on such date. 

Each calculation by the Administrative Agent of the Eurodollar Rate shall be conclusive and binding for all purposes, absent manifest error.

 “Eurodollar Rate Loans” means Revolving Loans bearing interest at rates determined by reference to the
Eurodollar Rate as provided in Subsection 2.2A. 

  
 10 

 “Eurodollar Rate Margin” means the margin over the Eurodollar Rate
used in determining the rate of interest of Eurodollar Rate Loans in accordance with the definition of Applicable Margin. 

“Event of Default” means each of the events set forth in Section 7. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time, and any successor
statute. 
 “Excluded Taxes” means, with respect to the Administrative Agent, any Lender, or any other recipient of any
payment to be made by or on account of any obligation of the Borrower hereunder (i) taxes that are imposed on the overall net income (however denominated) and franchise taxes imposed in lieu thereof (a) by the United States, (b) by
any other Government Authority under the laws of which such Lender is organized or has its principal office or maintains its applicable lending office, or (c) by any Government Authority solely as a result of a present or former connection
between such recipient and the jurisdiction of such Government Authority (other than any such connection arising solely from such recipient having executed, delivered or performed its obligations or received a payment under, or enforced, any of the
Loan Documents), (ii) any branch profits taxes imposed by the United States or any similar tax imposed by any other jurisdiction in which the Borrower is located, (iii) in the case of a Foreign Lender (other than an assignee pursuant to a
request of the Borrower under Subsection 2.9), any United States withholding tax that (x) is imposed on amounts payable to such Foreign Lender at the time it becomes a party hereto (or designates a new lending office), or (y) is
attributable to such Foreign Lender’s failure or inability (other than as a result of a Change in Law) to comply with its obligations under Subsection 2.7B(iv), except to the extent that such Foreign Lender (or its assignor, if any) was
entitled, at the time of designation of a new lending office (or assignment), to receive additional amounts from the Borrower with respect to such withholding tax pursuant to Subsection 2.7B, and (iv) any United States federal
withholding taxes imposed under FATCA. 
 “Existing Credit Agreement” has the meaning set forth in the
Recitals to this Agreement. 
 “Existing Indenture” means the Note Purchase Agreement dated as of
June 12, 2002 relating to the 7.33% Subordinated Capital Notes of Edward Jones due 2014. 
 “FATCA”
means Sections 1471 through 1474 of the Internal Revenue Code (as of the date hereof) and any regulations or official interpretations thereof (including any Revenue Ruling, Revenue Procedure, Notice or similar guidance issued by the U.S. Internal
Revenue Service thereunder as a precondition to relief or exemption from Taxes under such provisions). 

“FDIC” means the Federal Deposit Insurance Corporation or any successor entity. 

“Federal Funds Effective Rate” means, for any period, a fluctuating interest rate equal for each day during
such period to the weighted average of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers, as published for such day (or, if such day is not a Business Day, for the next
preceding 

  
 11 

 
Business Day) by the Federal Reserve Bank of New York, or, if such rate is not so published for any day which is a Business Day, the average of the quotations for such day on such transactions
received by the Administrative Agent from three Federal funds brokers of recognized standing selected by the Administrative Agent. 

“FINRA” means the Financial Industry Regulatory Authority or any successor entity. 

“Fiscal Quarter” means any of Borrower’s fiscal quarters of any Fiscal Year. 

“Fiscal Year” means the fiscal year of the Borrower ending on December 31 of each calendar year. For
purposes of this Agreement, any particular Fiscal Year shall be designated by reference to the calendar year in which such Fiscal Year ends. 

“FOCUS Report” means, for any Person, the Financial and Operational Combined Uniform Single Report required to
be filed on a monthly or quarterly basis, as the case may be, with the Commission or the NYSE, or any report that is required in lieu of such report. 

“Foreign Lender” means any Lender that is organized under the laws of a jurisdiction other than the United
States, any state thereof or the District of Columbia. 
 “Foreign Subsidiary” means any Subsidiary of the
Borrower that is not organized or incorporated under the laws of the United States, any state thereof or the District of Columbia. 

“Fronting Exposure” means, at any time there is a Defaulting Lender, with respect to the Swing Line Lender,
such Defaulting Lender’s Pro Rata Share of Swing Line Loans other than Swing Line Loans as to which such Defaulting Lender’s participation obligation has been reallocated to other Lenders, repaid by the Borrower or for which cash
collateral or other credit support acceptable to the Swing Line Lender shall have been provided in accordance with the terms hereof. 

“Fund” means any Person (other than a natural Person) that is (or will be) engaged in making, purchasing, holding or
otherwise investing in commercial loans and similar extensions of credit in the ordinary course. 
 “Funding and Payment
Office” means (i) the office of the Administrative Agent and the office of Wells Fargo, as Swing Line Lender, each located at 1525 West WT Harris Boulevard, Charlotte, North Carolina 28262, or (ii) such other office of the
Administrative Agent or the Swing Line Lender as may from time to time hereafter be designated as such in a written notice delivered by the Administrative Agent or the Swing Line Lender to the Borrower and each Lender. 

“Funding Date” means the date of funding of a Loan. 

“GAAP” means, subject to the limitations on the application thereof set forth in Subsection 1.2,
generally accepted accounting principles in the United States set forth in the 

  
 12 

 
opinions and pronouncements of the Accounting Principles Board and the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards
Board or such other principles as may be approved by a significant segment of the accounting profession in the United States, that are applicable to the circumstances as of the date of determination, consistently applied. 

“Governing Body” means the Managing Partner or, if applicable at any time, the executive committee, board of
directors, board of governors, managing director or directors, or other body or Person in a similar capacity having the power to direct or cause the direction of the management and policies of a Person that is a corporation, partnership, trust or
limited liability company. 
 “Government Authority” means the government of the United States or any other nation, or any
state, regional or local political subdivision or department thereof, and any other governmental or regulatory agency, authority, body, commission, central bank, board, bureau, organization, court, instrumentality or other entity exercising
executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to government, in each case whether federal, state, local or foreign (including supra-national bodies such as the European Union or the
European Central Bank). 
 “Governmental Authorization” means any permit, license, registration,
authorization, plan, directive, accreditation, consent, order or consent decree of or from, or notice to, any Government Authority. 

“Hazardous Materials” means (i) any chemical, material or substance at any time defined as or included in
the definition of “hazardous substances”, “hazardous wastes”, “hazardous materials”, “extremely hazardous waste”, “acutely hazardous waste”, “radioactive waste”, “biohazardous
waste”, “pollutant”, “toxic pollutant”, “contaminant”, “restricted hazardous waste”, “infectious waste”, “toxic substances”, or any other term or expression intended to define, list or
classify substances by reason of properties harmful to health, safety or the indoor or outdoor environment (including harmful properties such as ignitability, corrosivity, reactivity, carcinogenicity, toxicity, reproductive toxicity, “TCLP
toxicity” or “EP toxicity” or words of similar import under any applicable Environmental Laws); (ii) any oil, petroleum, petroleum fraction or petroleum derived substance; (iii) any drilling fluids, produced waters and other
wastes associated with the exploration, development or production of crude oil, natural gas or geothermal resources; (iv) any flammable substances or explosives; (v) any radioactive materials; (vi) any asbestos-containing materials;
(vii) urea formaldehyde foam insulation; (viii) electrical equipment which contains any oil or dielectric fluid containing polychlorinated biphenyls; (ix) pesticides; and (x) any other chemical, material or substance, exposure to
which is prohibited, limited or regulated by any Government Authority or which reasonably may or reasonably could pose a hazard to the health and safety of the owners, occupants or any Persons in the vicinity of any facility of the Borrower or any
of its Subsidiaries or to the indoor or outdoor environment. 
 “Hazardous Materials Activity” means any
past, current, proposed or threatened activity, event or occurrence involving any Hazardous Materials, including the use, manufacture, possession, storage, holding, presence, existence, location, Release, threatened Release,

  
 13 

 
discharge, placement, generation, transportation, processing, construction, treatment, abatement, removal, remediation, disposal, disposition or handling of any Hazardous Materials, and any
corrective action or response action with respect to any of the foregoing. 
 “Indebtedness” means, as to any
Person as of any date of determination, without duplication, all of the following, whether or not included as indebtedness or liabilities in accordance with GAAP: (a) all obligations of such Person for borrowed money and all obligations of such
Person evidenced by bonds, debentures, notes, loan agreements or other similar instruments; (b) all direct or contingent obligations of such Person arising under letters of credit (including standby and commercial letters of credit),
bankers’ acceptances, bank guaranties, surety bonds and similar instruments; (c) the Swap Termination Value under all Swap Contracts to which such Person is a party; (d) all obligations of such Person to pay the deferred purchase
price of property or services (other than trade accounts payable in the ordinary course of business not past due for more than thirty (30) days after the date on which such trade account payable was created); (e) indebtedness (excluding
prepaid interest thereon) secured by a Lien on property owned or being purchased by such Person (including indebtedness arising under conditional sales or other title retention agreements), whether or not such indebtedness shall have been assumed by
such Person or is limited in recourse; (f) all Attributable Debt of such Person with respect to such Person’s obligations in respect of (i) Capital Leases and (ii) Synthetic Leases (regardless of whether accounted for as
indebtedness under GAAP); (g) all obligations of such Person to purchase, redeem, retire, defease or otherwise make a payment in respect of Disqualified Capital Stock valued, in the case of a redeemable preferred interest, at the greater of its
voluntary or involuntary liquidation preference plus accrued and unpaid dividends and (h) all Contingent Obligations of such Person in respect of any of the foregoing. For all purposes hereof, the Indebtedness of any Person shall
(i) include the Indebtedness of any partnership in which such Person is a general partner, unless such Indebtedness is expressly made non-recourse to such Person and (ii) exclude customer payables that are maintained on the balance sheet
of the Borrower or any of its Subsidiaries. 
 “Indemnified Liabilities” has the meaning assigned to that term in
Subsection 9.3. 
 “Indemnified Taxes” means Taxes other than Excluded Taxes. 

“Indemnitee” has the meaning assigned to that term in Subsection 9.3. 

“Intellectual Property” means all patents, trademarks, tradenames, copyrights, technology, software, know-how
and processes used in or necessary for the conduct of the business of the Borrower and its Subsidiaries. 
 “Interest Payment
Date” means (i) with respect to any Base Rate Loan, the last Business Day of each March, June, September and December of each year, commencing on the first such date to occur after the Closing Date, and (ii) with respect to
any Eurodollar Rate Loan, the last day of each Interest Period applicable to such Loan and, in the case of a Eurodollar Rate Loan of six months’ duration, each day prior to the last day of such Interest Period that occurs at intervals of three
months’ duration after the first day of such Interest Period. 

  
 14 

 “Interest Period” has the meaning assigned to that term in
Subsection 2.2B. 
 “Interest Rate Determination Date”, with respect to any Interest Period, means the
second Business Day prior to the first day of such Interest Period. 
 “Internal Revenue Code” means the
Internal Revenue Code of 1986, as amended to the date hereof and from time to time hereafter, and any successor statute. 

“Investment” means (i) any direct or indirect purchase or other acquisition by the Borrower or any of its
Subsidiaries of, or of a beneficial interest in, any Securities of any other Person (including any Subsidiary of the Borrower), (ii) any direct or indirect redemption, retirement, purchase or other acquisition for value, by any Subsidiary of
the Borrower from any Person other than the Borrower or any of its Subsidiaries, of any equity Securities of such Subsidiary, (iii) any direct or indirect loan, advance or capital contribution by the Borrower or any of its Subsidiaries to any
other Person, including all indebtedness from that other Person that are not current assets or did not arise from transactions with that other Person in the ordinary course of business, or (iv) any transaction governed by a Swap Contract. The
amount of any Investment shall be the original cost of such Investment plus the cost of all additions thereto, without any adjustments for increases or decreases in value, or write-ups, write-downs or write-offs with respect to such Investment
(other than adjustments for the repayment of, or the refund of capital with respect to, the original or any additional principal amount of any such Investment). 

“Joint Lead Arrangers” means, collectively, Wells Fargo Securities, LLC and Merrill Lynch, Pierce,
Fenner & Smith Incorporated. 
 “Joint Venture” means a joint venture, partnership or other similar
arrangement, whether in corporate, partnership or other legal form. 
 “Lender” and
“Lenders” means the Persons identified as “Lenders” and listed on the signature pages of this Agreement, together with their successors and permitted assigns pursuant to Subsection 9.1, and the term
“Lenders” shall include the Swing Line Lender unless the context otherwise requires. 
 “Leverage
Ratio” means, as of any date of determination, the ratio of (a) Consolidated Total Debt on such date to (b) Total Capitalization on such date. 

“License” means any license, certificate of authority, permit or other authorization which is required to be
obtained from any Government Authority in connection with the operation, ownership or transaction of insurance, broker-dealer or investment advisory businesses or other regulated businesses. 

“Lien” means any lien, mortgage, pledge, assignment, security interest, charge or encumbrance of any kind
(including any conditional sale or other title retention agreement) and any option, trust or other preferential arrangement having the practical effect of any of the foregoing. 

  
 15 

 “Loan” or “Loans” means one or more of the
loans made by the Lenders to the Borrower pursuant to Subsection 2.1A and shall include one or more Revolving Loans and Swing Line Loans. 

“Loan Documents” means this Agreement, the Notes and all other agreements, instruments and certificates now or
hereafter executed and delivered by the Borrower to the Administrative Agent and the Lenders in connection with the Obligations under this Agreement. 

“Managing Partner” means the managing partner of the Borrower. 

“Margin Stock” has the meaning assigned to that term in Regulation U of the Board of Governors of the Federal
Reserve System as in effect from time to time. 
 “Material Adverse Effect” means a material adverse effect
upon: 
 (i) the business, operations, financial condition, assets or liabilities (whether actual or contingent) of the Borrower and its
Subsidiaries, taken as a whole; 
 (ii) the Borrower’s ability to perform its obligations under the Loan Documents; or 

(iii) the enforceability of the Obligations under applicable law. 

“MSRB” means the Municipal Securities Rulemaking Board and any successor entity. 

“Moody’s” means Moody’s Investors Service, Inc. and any successor thereto. 

“Mortgage Indebtedness” means Indebtedness incurred by any Subsidiary of the Borrower to finance or refinance
the purchase or improvement of certain real property of such Subsidiary. 
 “Multiemployer Plan” means any
Employee Benefit Plan that is a “multiemployer plan” as defined in Section 3(37) of ERISA. 

“Notes” means one or more of the Revolving Notes or the Swing Line Notes or any combination thereof at any time
applicable. 
 “Notice of Borrowing” means a notice substantially in the form of Exhibit I. 

“Notice of Conversion/Continuation” means a notice substantially in the form of Exhibit II. 

“NYSE” means the New York Stock Exchange, Inc. 

“Obligations” means all obligations of every nature of the Borrower from time to time owed to the
Administrative Agent, the Lenders or any of them under the Loan Documents, whether for principal, interest, fees, expenses, indemnification or otherwise. 

  
 16 

 “OCC” means the Office of the Controller of the Currency and any
successor entity. 
 “OFAC” means the U.S. Department of the Treasury’s Office of Foreign Assets
Control. 
 “Officer” means the managing partner, the chief financial officer, the treasurer, or other
individual appointed by the Governing Body or the Organizational Documents of a corporation, partnership, trust or limited liability company to serve in a similar capacity as the foregoing. 

“Officer’s Certificate”, as applied to any Person that is a corporation, partnership, trust, limited
liability company or other Person that has a Governing Body, means a certificate executed on behalf of such Person (and not in any individual capacity) by one or more Officers of such Person or one or more Officers of a general partner or a managing
member if such general partner or managing member is a corporation, partnership, trust, limited liability company or similar Person. 

“Organizational Documents” means the documents (including bylaws, if applicable) pursuant to which a Person
that is a corporation, partnership, trust or limited liability company is organized. 
 “Other Taxes” means
all present or future stamp or documentary taxes or any other excise or property taxes, charges, fees, expenses or similar levies arising from any payment made hereunder or under any other Loan Document or from the execution, delivery or enforcement
of, or otherwise with respect to, this Agreement or any other Loan Document. 
 “OTS” means the Office of
Thrift Supervision and any successor entity. 
 “Participant” means a purchaser of a participation in the
rights and obligations under this Agreement pursuant to Subsection 9.1C. 
 “Partnership Capital”
means, with respect to any Person which is a partnership, such Person’s partnership capital subject to mandatory redemption, net of reserves for anticipated withdrawals, as determined in accordance with GAAP. 

“Patriot Act” means the USA PATRIOT Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)).

 “PBGC” means the Pension Benefit Guaranty Corporation or any successor thereto. 

“Pension Plan” means any Employee Benefit Plan, other than a Multiemployer Plan, that is subject to
Section 412 of the Internal Revenue Code or Title IV of ERISA. 
 “Permitted Encumbrances” means the following types
of Liens (excluding any such Lien imposed pursuant to Section 401(a)(29) or 412(n) of the Internal Revenue Code or by ERISA, and any such Lien relating to or imposed in connection with any Environmental Claim): 

(i) Liens for taxes, assessments or governmental charges or claims the payment of which is not, at the time, required by Subsection
5.3; 

  
 17 

 (ii) Liens of landlords, Liens of collecting banks under the UCC on items in the course of
collection, Liens and rights of set-off of banks, statutory and common law Liens of carriers, warehousemen, mechanics, repairmen, workmen and materialmen, and other Liens imposed by law, in each case incurred in the ordinary course of business
(a) for amounts not yet overdue by more than thirty (30) days or (b) for amounts that are overdue and that (in the case of any such amounts overdue for a period in excess of thirty (30) days) are being contested in good faith by
appropriate proceedings, so long as (1) such reserves or other appropriate provisions, if any, as shall be required by GAAP shall have been made for any such contested amounts, and (2) no foreclosure, sale or similar proceedings have been
commenced; 
 (iii) pledges, deposits and other Liens made or incurred in the ordinary course of business in connection with workers’
compensation, unemployment insurance, and other types of social security obligations, or to secure the performance of statutory or regulatory obligations, performance bonds and completion, guarantee, surety, similar bonds, and appeal bonds, letters
of credit, bids, leases, government contracts, trade contracts, and other similar obligations (exclusive of obligations for the payment of borrowed money), so long as no foreclosure, sale or similar proceedings have been commenced with respect
thereto; 
 (iv) any attachment or judgment Lien not constituting an Event of Default under Subsection 7.8; 

(v) licenses (with respect to Intellectual Property and other property), leases or subleases granted to third parties not interfering in any
material respect with the ordinary conduct of the business of the Borrower or any of its Subsidiaries; 
 (vi) easements, zoning
restrictions, rights-of-way, covenants and other restrictions, encroachments, and other minor defects or irregularities in title or other similar encumbrances, in each case which do not and will not interfere in any material respect with the
ordinary conduct of the business of the Borrower or any of its Subsidiaries; 
 (vii) any (a) interest or title of a lessor or
sublessor or lessee or sublessee under any lease not prohibited by this Agreement, (b) Lien or restriction that the interest or title of such lessor or sublessor may be subject to, or (c) subordination of the interest of the lessee or
sublessee under such lease to any Lien or restriction referred to in the preceding clause (b); 
 (viii) Liens arising from precautionary
filings of UCC financing statements relating solely to leases and other transactions not prohibited by this Agreement; 
 (ix) Liens
incurred in the ordinary course of the settlement of securities transactions; 
 (x) Liens in favor of banks on items in collection (and the
documents related thereto) arising in the ordinary course of business of the Borrower and the Subsidiaries under Article IV of the Uniform Commercial Code; 

  
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 (xi) any zoning or similar law or right reserved to or vested in any Government Authority to
control or regulate the use of any real property; and 
 (xii) Liens securing obligations (other than obligations representing Indebtedness
for borrowed money) under operating, reciprocal easement or similar agreements entered into in the ordinary course of business of the Borrower and its Subsidiaries. 

“Person” means and includes natural persons, corporations, limited partnerships, general partnerships, limited
liability companies, limited liability partnerships, joint stock companies, joint ventures, associations, companies, trusts, banks, trust companies, land trusts, business trusts or other organizations, whether or not legal entities, and Government
Authorities. 
 “Potential Event of Default” means a condition or event that, after notice or lapse of time
or both, would constitute an Event of Default. 
 “Prime Rate” means the rate that Wells Fargo publicly
announces from time to time as its prime lending rate, as in effect from time to time. Each change in the Prime Rate shall be effective as of the opening of business on the day such change in such prime rate occurs. The Prime Rate is a reference
rate and does not necessarily represent the lowest or best rate actually charged to any customer. Wells Fargo or any other Lender may make commercial loans or other loans at rates of interest at, above or below the Prime Rate. 

“Proceedings” means any action, suit, proceeding (whether administrative, judicial or otherwise) or arbitration
and any governmental investigation known to the Borrower. 
 “Pro Rata Share” means the percentage obtained
by dividing (i) the Revolving Loan Exposure of that Lender by (ii) the aggregate Revolving Loan Exposure of all Lenders, as the applicable percentage may be adjusted by assignments permitted pursuant to Subsection 9.1.
The initial Pro Rata Share of each Lender is set forth opposite the name of that Lender in Schedule 2.1. 
 “Refunded
Swing Line Loans” has the meaning assigned to that term in Subsection 2.1A(ii)(b). 

“Register” has the meaning assigned to that term in Subsection 2.1D. 

“Regulation D” means Regulation D of the Board of Governors of the Federal Reserve System, as in effect from time to time.

 “Release” means any release, spill, emission, leaking, pumping, pouring, injection, escaping, deposit, disposal,
discharge, dispersal, dumping, leaching or migration of Hazardous Materials into the indoor or outdoor environment (including the abandonment or disposal of any barrels, containers or other closed receptacles containing any Hazardous Materials),
including the movement of any Hazardous Materials through the air, soil, surface water or groundwater. 
 “Requisite
Lenders” means, at any date, Lenders having or holding at least 51% of the aggregate Revolving Loan Exposure of all Lenders; provided that the Commitment of, and 

  
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the portion of the Total Utilization of Revolving Credit Commitments held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Requisite Lenders.

 “Repurchase Obligation” means any obligation of the Borrower set forth in its Organizational Documents to
repurchase general partner, limited partner and subordinated limited partner interests in the ordinary course of its business. 

“Reserve Percentage” means, for any day, the percentage (expressed as a decimal and rounded upwards, if
necessary, to the next higher 1/100th of 1%) which is in effect for such day as prescribed by the Board of Governors of the Federal Reserve System (or any successor) for determining the maximum reserve requirement (including, without limitation, any
basic, supplemental or emergency reserves) in respect of eurocurrency liabilities or any similar category of liabilities for a member bank of the Federal Reserve System in New York City. 

“Restricted Payment” means (a) any dividend or other distribution, direct or indirect, on account of any shares of any
class of Capital Stock of the Borrower now or hereafter outstanding, except a dividend or other distribution payable solely in shares of Capital Stock to the holders of that class or an increase in the liquidation value of shares of that class of
Capital Stock, (b) any redemption, retirement, sinking fund or similar payment, purchase or other acquisition for value, direct or indirect, of any shares of any class of Capital Stock of the Borrower now or hereafter outstanding, except to the
extent that consideration therefor is in the form of Capital Stock of the Borrower, and (c) any payment made to retire, or to obtain the surrender of, any outstanding warrants, options or other rights to acquire shares of any class of Capital
Stock of the Borrower now or hereafter outstanding, except to the extent that consideration therefor is in the form of Capital Stock of the Borrower. 

“Revolving Loan Commitment” means the commitment of a Lender to make Revolving Loans to the Borrower pursuant
to Subsection 2.1A(i), and “Revolving Loan Commitments” means such commitments of all Lenders in the aggregate. 

“Revolving Loan Commitment Amount” means, at any date, the aggregate amount of the Revolving Loan Commitments
of all Lenders. 
 “Revolving Loan Commitment Termination Date” means November 15, 2018. 

“Revolving Loan Exposure”, with respect to any Lender, means, as of any date of determination (i) prior to
the termination of the Revolving Loan Commitments, the amount of that Lender’s Revolving Loan Commitment, and (ii) after the termination of the Revolving Loan Commitments, the sum of (a) the aggregate outstanding principal amount of
the Revolving Loans of that Lender plus (b) in the case of the Swing Line Lender, the aggregate outstanding principal amount of all Swing Line Loans (net of any assignments thereof deemed purchased by other Lenders) plus
(c) the aggregate amount of all assignments deemed purchased by that Lender in any outstanding Swing Line Loans. 
 “Revolving
Loans” means the Loans made by the Lenders to the Borrower pursuant to Subsection 2.1A(i). 

  
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 “Revolving Notes” means any promissory notes of the Borrower
issued pursuant to Subsection 2.1E to evidence the Revolving Loans of any Lenders, substantially in the form of Exhibit III. 

“Rule 15c3-1” means Rule 15c3-1 of the General Rules and Regulations as promulgated by the Commission under the
Exchange Act, as such rule may be amended from time to time, or any rule or regulation of the Commission that replaces Rule 15c3-1. 

“Rule 15c3-3” means Rule 15c3-3 of the General Rules and Regulations as promulgated by the Commission under the
Exchange Act, as such rule may be amended from time to time, or any rule or regulation of the Commission that replaces Rule 15c3-3. 

“S&P” means Standard & Poor’s Ratings Service, a division of The McGraw-Hill Companies, Inc.,
and any successor thereto. 
 “Sanctioned Country” means a country subject to a sanctions program identified
on the list maintained by OFAC and available at http://www.treasury.gov/resource-center/sanctions/Programs/Pages/Programs.aspx, or as otherwise published from time to time, or indentified on any published sanctions-related list maintained by
the United States Department of State. 
 “Sanctioned Person” means (a) a Person named on the list of “Specially
Designated Nationals and Blocked Persons” maintained by OFAC available at http://www.treasury.gov/resource-center/sanctions/SDN-List/Pages/default.aspx, or as otherwise published from time to time, or named on any published
sanctions-related list maintained by the United States Department of State, (b) a Person named on the lists maintained by the United Nations Security Council available at http://www.un.org/sc/committees/list_compend.shtml, or as
otherwise published from time to time, (c) a Person named on the lists maintained by the European Union available at http://eeas.europa.eu/cfsp/sanctions/consol-list_en.htm, or as otherwise published from time to time, (d) a Person
named on the lists maintained by Her Majesty’s Treasury available at http://www.hm-treasury.gov.uk/fin_sanctions_index.htm, or as otherwise published from time to time, (e) (i) an agency of the government of a Sanctioned
Country, (ii) an organization controlled by a Sanctioned Country, or (iii) a person resident in a Sanctioned Country, to the extent subject to a sanctions program administered by OFAC, or (f) a Person controlled by any of the
foregoing. 
 “Sarbanes-Oxley” means the Sarbanes-Oxley Act of 2002, as amended from time to time, and any
successor statute. 
 “Securities” means any stock, shares, partnership interests, voting trust certificates,
certificates of interest or participation in any profit-sharing agreement or arrangement, options, warrants, bonds, debentures, notes, or other evidences of indebtedness, secured or unsecured, convertible, subordinated, certificated or
uncertificated, or otherwise, or in general any instruments commonly known as “securities” or any certificates of interest, shares or participations in temporary or interim certificates for the purchase or acquisition of, or any right to
subscribe to, purchase or acquire, any of the foregoing. 

  
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 “Securities Act” means the Securities Act of 1933, as amended from
time to time, and any successor statute. 
 “Securities Laws” means the Securities Act, the Exchange Act,
Sarbanes-Oxley and the applicable accounting and auditing principles, rules, standards and practices promulgated, approved or incorporated by the Commission or the Public Company Accounting Oversight Board, as each of the foregoing may be amended
and in effect on any applicable date hereunder. 
 “Self-Regulatory Organization” has the meaning assigned to
such term in Section 3(a)(26) of the Exchange Act. 
 “SIPC” means the Securities Investor Protection
Corporation or any successor entity. 
 “Solvent”, with respect to any Person, means that as of the date of
determination both (i)(a) the then fair value of the property of such Person as a going concern is (1) greater than the total amount of liabilities (including contingent liabilities) of such Person and (2) not less than the amount that
will be required to pay the probable liabilities on such Person’s then existing debts as they become absolute and due considering all financing alternatives, ordinary operating income and potential asset sales reasonably available to such
Person; (b) such Person’s capital is not unreasonably small in relation to its business or any undertaken transaction; and (c) such Person does not intend to incur, or believe (nor should it reasonably believe) that it will incur,
debts beyond its ability to pay such debts as they become due; and (ii) such Person is “solvent” within the meaning given that term and similar terms under applicable laws relating to fraudulent transfers and conveyances. For purposes
of this definition, the amount of any contingent liability at any time shall be computed as the amount that would be required to be included as a liability in respect of such contingent obligations on a consolidated balance sheet of such Person and
its subsidiaries as determined in accordance with GAAP. 
 “Subsidiary”, with respect to any Person, means
any corporation, partnership, trust, limited liability company, association, joint venture or other business entity of which more than 50% of the total voting power of shares of stock or other ownership interests entitled (without regard to the
occurrence of any contingency) to vote in the election of the members of the Governing Body is at the time owned or Controlled by that Person or one or more of the other Subsidiaries of that Person or a combination thereof. Except as otherwise
provided herein, each reference to a Subsidiary shall be deemed to be a reference to a Subsidiary of the Borrower. 
 “Swap
Contract” means any agreement governing or evidencing any rate swap, basis swap, forward rate, commodity swap, interest rate option, forward foreign exchange, spot foreign exchange, rate cap, rate floor, rate collar, currency swap,
cross-currency rate swap, currency option or any other similar transaction (including any option to enter into any of the foregoing), including any master agreement for any of the foregoing, together with all supplements thereto; provided
that no phantom stock, employee benefit or similar plan providing for payments only on account of services provided by current or former directors, officers, employees or consultants of the Borrower or the Subsidiaries shall be a Swap Agreement.

  
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 “Swap Termination Value” means, in respect of any one or more Swap
Contracts, after taking into account the effect of any legally enforceable netting agreement relating to such Swap Contracts, (a) for any date on or after the date such Swap Contracts have been closed out and termination value(s) determined in
accordance therewith, such termination value(s) and (b) for any date prior to the date referenced in clause (a) of this definition, the amount(s) determined as the mark-to-market value(s) for such Swap Contracts, as determined based upon
one or more mid-market or other readily available quotations provided by any recognized dealer in such Swap Contracts (which may include a Lender or any Affiliate of a Lender). 

“Swing Line Lender” means Wells Fargo, or any Person serving as a successor thereto hereunder, in each case, in
such Person’s capacity as Swing Line Lender hereunder. 
 “Swing Line Loan Subfacility” means
$150,000,000, which is the maximum principal amount of Swing Line Loans the Swing Line Lender may make to the Borrower pursuant to Subsection 2.1A(ii); provided, that any reduction of the Revolving Loan Commitment Amount made pursuant
to Subsection 2.4 that reduces the Revolving Loan Commitment Amount to an amount less than the then current amount of the Swing Line Loan Subfacility shall result in an automatic corresponding reduction of the amount of the Swing Line Loan
Subfacility to the amount of the Revolving Loan Commitment Amount, as so reduced, without any further action on the part of the Borrower, the Administrative Agent or the Swing Line Lender. 

“Swing Line Loans” means the Loans made by Swing Line Lender to the Borrower pursuant to Subsection
2.1A(ii). 
 “Swing Line Note” means any promissory note of the Borrower issued pursuant to Subsection
2.1E to evidence the Swing Line Loans of the Swing Line Lender, substantially in the form of Exhibit IV. 

“Synthetic Lease” means any synthetic lease, tax retention operating lease, off-balance sheet loan or similar
off-balance sheet financing product where such transaction is considered borrowed money indebtedness for tax purposes but is classified as an operating lease in accordance with GAAP. 

“Target” has the meaning set forth in Subsection 6.3(viii). 

“Tax” or “Taxes” means any present or future tax, levy, impost, duty,
fee, assessment, deduction, withholding or other charge of any nature and whatever called, by whomsoever, on whomsoever and wherever imposed, levied, collected, withheld or assessed, including interest, penalties, additions to tax and any similar
liabilities with respect thereto. 
 “Total Capitalization” means as of any date, the sum of (a) the
Borrower’s Partnership Capital and (b) without duplication, Consolidated Total Debt. 
 “Total Utilization of
Revolving Loan Commitments” means, as at any date of determination, the sum of (i) the aggregate principal amount of all outstanding Revolving Loans plus (ii) the aggregate principal amount of all outstanding Swing
Line Loans. 

  
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 “Type” means, with respect to a Revolving Loan, its character as a Base Rate
Loan or a Eurodollar Rate Loan. 
 “UCC” means the Uniform Commercial Code as in effect in any applicable
jurisdiction. 
 “Unasserted Obligations” means, at any time, Obligations for taxes, costs, indemnifications,
reimbursements, damages and other liabilities (except for the principal of and interest on, and fees relating to, any Indebtedness) in respect of which no claim or demand for payment has been made (or, in the case of Obligations for indemnification,
no notice for indemnification has been issued by the Indemnitee) at such time. 
 “United States” means the
United States of America. 
 “Wells Fargo” has the meaning assigned to that term in the introduction to this
Agreement. 
 “Wholly-Owned Subsidiary” of a Person means (a) any Subsidiary all of the outstanding
voting securities of which shall at the time be owned or Controlled by such Person or one or more Wholly-Owned Subsidiaries of such Person, or by such Person and one or more Wholly-Owned subsidiaries of such Person, or (b) any partnership,
limited liability company, association, joint venture or similar business organization 100% of the ownership interests having ordinary voting power of which shall at the time be so owned or Controlled (other than in the case of Foreign Subsidiaries,
director’s qualifying shares and/or other nominal amounts of shares required to be held by Persons other than the Borrower and its Subsidiaries under applicable law). 

1.2 Accounting Terms; Utilization of GAAP for Purposes of Calculations Under Agreement. 

Except as otherwise expressly provided in this Agreement, all accounting and financial terms not otherwise defined herein shall have the
meanings assigned to them in conformity with GAAP. Financial statements and other information required to be delivered by the Borrower to the Lenders pursuant to Subsection 5.1 shall be prepared in accordance with GAAP as in effect at the
time of such preparation. Calculations in connection with the definitions, covenants and other provisions of this Agreement shall utilize GAAP as in effect on the date of determination, applied in a manner consistent with that used in preparing the
financial statements referred to in Subsection 4.3. If at any time any change in GAAP would affect the computation of any financial ratio or requirement set forth in any Loan Document, and the Borrower, the Administrative Agent or the
Requisite Lenders shall so request, the Administrative Agent, the Lenders and the Borrower shall negotiate in good faith to amend such ratio or requirement to preserve the original intent thereof in light of such change in GAAP (subject to the
approval of the Requisite Lenders), provided that, until so amended, such ratio or requirement shall continue to be computed in accordance with GAAP prior to such change therein. Notwithstanding the foregoing, for purposes of determining compliance
with any covenant (including the computation of any financial covenant) contained herein, Indebtedness of the Borrower and its Subsidiaries shall be deemed to be carried at 100% of the outstanding principal amount thereof, and the effects of FASB
ASC 825 and FASB ASC 470-20 on financial liabilities shall be disregarded. 

  
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 1.3 Other Definitional Provisions and Rules of Construction. 

A. Any of the terms defined herein may, unless the context otherwise requires, be used in the singular or the plural, depending on the
reference. 
 B. References to “Exhibits,” “Schedules,” “Sections” and “Subsections” shall be
to Exhibits, Schedules, Sections and Subsections, respectively, of this Agreement unless otherwise specifically provided. Section and Subsection headings in this Agreement, and the table of contents to this Agreement, are included herein for
convenience of reference only and shall not constitute a part of this Agreement for any other purpose or be given any substantive effect. 

C. The use in any of the Loan Documents of the word “include” or “including”, when following any general statement,
term or matter, shall not be construed to limit such statement, term or matter to the specific items or matters set forth immediately following such word or to similar items or matters, whether or not nonlimiting language (such as “without
limitation” or “but not limited to” or words of similar import) is used with reference thereto, but rather shall be deemed to refer to all other items or matters that fall within the broadest possible scope of such general statement,
term or matter. 
 D. Unless otherwise expressly provided herein, references to Organizational Documents, agreements (including the
Loan Documents) and other contractual instruments shall be deemed to include all subsequent amendments, restatements, extensions, supplements and other modifications thereto, but only to the extent that such amendments, restatements, extensions,
supplements and other modifications are not prohibited by any Loan Document. 
 E. Unless otherwise expressly provided herein, any
definition or reference to any law, including, without limitation, the Internal Revenue Code, ERISA, the Exchange Act, the Patriot Act, the Securities Act, the UCC, the Investment Company Act of 1940, the Trading with the Enemy Act of the United
States or any of the foreign assets control regulations of the United States Treasury Department, shall include all statutory and regulatory provisions consolidating, amending, replacing, supplementing or interpreting such law. 

F. With respect to references in this Agreement to the conclusiveness of determinations or documentation without any reference to a
standard related thereto (for example, “absent manifest error”), the parties agree that if questions arise with respect to such determinations or documentation, the parties will have an opportunity to review and discuss such determinations
or documentation. 
 1.4 Rounding. Any financial ratios required to be maintained pursuant to this Agreement shall be
calculated by dividing the appropriate component by the other component, carrying the result to one place more than the number of places by which such ratio or percentage is expressed herein and rounding the result up or down to the nearest number
(with a rounding-up if there is no nearest number). 

  
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 1.5 Amendment and Restatement. In order to facilitate this amendment and
restatement and otherwise to effectuate the desires of the Borrower, the Administrative Agent and the Lenders agree: 
 A. On the
Closing Date, the terms and provisions of the Existing Credit Agreement shall be and hereby are amended and restated in their entirety by the terms, conditions and provisions of this Agreement, and the terms and provisions of the Existing Credit
Agreement, except as otherwise expressly provided herein, shall be superseded by this Agreement. 
 B. Notwithstanding this amendment
and restatement of the Existing Credit Agreement, including anything in this Subsection 1.5, and of any related “Loan Documents” (as such term is defined in the Existing Credit Agreement and referred to herein, individually or
collectively, as the “Prior Loan Documents”), (i) all Obligations (as defined in the Existing Credit Agreement) outstanding under the Existing Credit Agreement and other Prior Loan Documents (the “Existing
Obligations”) shall continue as Obligations hereunder to the extent not repaid on the Closing Date, and (ii) each of this Agreement and the Notes and any other Loan Document (as defined herein) that is amended and restated in
connection with this Agreement is given as a substitution for, and not as a payment of, the indebtedness, liabilities and Existing Obligations of the Borrower under the Existing Credit Agreement or any other Prior Loan Document and
(iii) neither the execution and delivery of this Agreement, the Notes and such Loan Documents nor the consummation of any other transaction contemplated hereunder is intended to constitute a novation of the Existing Credit Agreement or of any
of the other Prior Loan Documents or any obligations thereunder. On the Closing Date: (1) all Loans owing by the Borrower and outstanding under the Existing Credit Agreement shall continue as Loans hereunder and shall constitute advances
hereunder and (2) all Base Rate Loans under the Existing Credit Agreement and not converted into Eurodollar Rate Loans shall accrue interest at the Base Rate hereunder. The parties hereby acknowledge and agree that, on the Closing Date, there
are no Loans outstanding under the Existing Credit Agreement and that all “Obligations” (other than unasserted contingent indemnification obligations) under the Existing Credit Agreement will be paid in full on the Closing Date. 

C. The parties hereby agree that, on the Closing Date, the Commitments shall be as set forth on Schedule 2.1 and the outstanding
principal amount of any Loans shall be reallocated in accordance with such Commitments and the requisite assignments shall be deemed to be made in such amounts by and between the Lenders and/or Lenders under the Existing Credit Agreement, and from
each Lender or Lender under the Existing Credit Agreement to each other Lender, as applicable, with the same force and effect as if such assignments were evidenced by applicable Assignment Agreement(s) (as defined in the Existing Credit Agreement)
under the Existing Credit Agreement. Notwithstanding anything to the contrary in Subsection 9.1 of the Existing Credit Agreement or this Agreement, no other documents or instruments, including any Assignment Agreement, shall be executed in
connection with these assignments (all of which requirements are hereby waived), and such assignments shall be deemed to be made with all applicable representations, warranties and covenants as if evidenced by an Assignment Agreement. On the Closing
Date, the Lenders shall make all necessary cash settlement in full with each other Lender (and with the Lenders under the Existing Credit Agreement whose Commitments thereunder are being terminated), through the Administrative Agent, with respect

  
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to all assignments, reallocations and other changes in the Commitments (as such term is defined in the Existing Credit Agreement) such that after giving effect to such settlements each
Lender’s Pro Rata Share shall be as set forth on Schedule 2.1. 
 SECTION 2. AMOUNTS AND TERMS OF LOANS 

2.1 Loans; Making of Loans; the Register; Optional Notes. 

A. Loans. Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of the Borrower
herein set forth, each Lender hereby severally agrees to make Revolving Loans as described in Subsection 2.1A(i) and the Swing Line Lender hereby agrees to make the Swing Line Loans as described in Subsection 2.1A(ii). 

(i) Revolving Loans. Each Lender severally agrees, subject to the limitations set forth below with respect to the
maximum amount of Revolving Loans permitted to be outstanding from time to time, to make revolving loans (each such loan a “Revolving Loan”) to the Borrower in Dollars requested by the Borrower from time to time during the period
from the Closing Date to but excluding the Revolving Loan Commitment Termination Date in an aggregate amount not exceeding its Pro Rata Share of the aggregate amount of the Revolving Loan Commitments to be used in accordance with the terms of this
Agreement. The original amount of each Lender’s Revolving Loan Commitment is set forth opposite its name on Schedule 2.1 and the original Revolving Loan Commitment Amount is $400,000,000; provided that the amount of the
Revolving Loan Commitment of each Lender shall be adjusted to give effect to any assignment of such Revolving Loan Commitment pursuant to Subsection 9.1B, shall be reduced from time to time by the amount of any reductions thereto made
pursuant to Subsection 2.4 and shall be increased as necessary to give effect to any increases thereto made pursuant to Subsection 2.10. Each Lender’s Revolving Loan Commitment shall expire on the Revolving Loan Commitment
Termination Date and the Borrower hereby agrees that all Revolving Loans and all other Obligations of the Borrower shall be paid in full no later than that date. Amounts borrowed under this Subsection 2.1A(i) may be repaid and reborrowed to
but excluding the Revolving Loan Commitment Termination Date. 
 Anything contained in this Agreement to the contrary notwithstanding, the
Revolving Loans and the Revolving Loan Commitments shall be subject to the limitation that in no event shall the Total Utilization of Revolving Loan Commitments at any time exceed the Revolving Loan Commitment Amount then in effect. 

(ii) Swing Line Loans. 

(a) General Provisions. The Swing Line Lender may, at any time in its reasonable discretion and subject to the
limitations set forth in Subsection 2.1A(ii)(e) and set forth below with respect to the maximum amount of Swing Line Loans permitted to be outstanding from time to time, make a portion of the Revolving Loan Commitments available to the
Borrower from time to time during the period from the Closing Date to but excluding the Revolving Loan 

  
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Commitment Termination Date by making Swing Line Loans to the Borrower in Dollars in an aggregate amount not exceeding the amount of the Swing Line Loan Subfacility to be used for the purposes
identified in Subsection 2.5A, notwithstanding the fact that such Swing Line Loans, when aggregated with the Swing Line Lender’s outstanding Revolving Loans, may exceed the Swing Line Lender’s Revolving Loan Commitment. The Swing
Line Loan Subfacility shall expire on the Revolving Loan Commitment Termination Date and all Swing Line Loans and all other amounts owed hereunder with respect to the Swing Line Loans shall be paid in full no later than that date. 

(b) Swing Line Loan Prepayment with Proceeds of Revolving Loans. With respect to any Swing Line Loans that have not been
voluntarily prepaid by the Borrower pursuant to Subsection 2.4A(i), the Swing Line Lender may, at any time in its sole and absolute discretion but not less frequently than once every ten (10) Business Days, deliver to the Administrative
Agent (with a copy to the Borrower), no later than 2:00 P.M. (Central time) on the proposed Funding Date, a notice (the “Refunding Request”) requesting the Lenders to make Revolving Loans that are Base Rate Loans on such Funding
Date in an amount equal to the amount of such Swing Line Loans (the “Refunded Swing Line Loans”) outstanding on the date such notice is given and the Lenders shall pay to the Administrative Agent in immediately available funds in
Dollars their respective Pro Rata Shares of each such Refunded Swing Line Loans no later than 4:00 P.M. (Central time) on such Funding Date; provided, that with respect to Early Requested Swing Line Loans, the Swing Line Lender shall deliver
to the Administrative Agent (with a copy to the Borrower), the Refunding Request no later than 11:00 A.M. (Central time) on the Funding Date of such Early Requested Swing Line Loans (and the Lenders shall pay to the Administrative Agent in
immediately available funds in Dollars their respective Pro Rata Shares of the Refunded Swing Line Loans of such Early Requested Swing Line Loans no later than 3:00 P.M. (Central time)). The Borrower hereby authorizes the giving of any such notice
and the making of any such Revolving Loans. Anything contained in this Agreement to the contrary notwithstanding, (1) the proceeds of such Revolving Loans made by the Lenders other than the Swing Line Lender shall be immediately delivered by
the Administrative Agent to the Swing Line Lender (and not to the Borrower) and applied to repay a corresponding portion of the Refunded Swing Line Loans and (2) on the day such Revolving Loans are made, the Swing Line Lender’s Pro Rata
Share of the Refunded Swing Line Loans shall be deemed to be paid with the proceeds of a Revolving Loan made by the Swing Line Lender, and such portion of the Swing Line Loans deemed to be so paid shall no longer be outstanding as Swing Line Loans
and shall no longer be due under the Swing Line Note, if any, of the Swing Line Lender but shall instead constitute part of the Swing Line Lender’s outstanding Revolving Loans and shall be due under the Revolving Note, if any, of the Swing Line
Lender. If any portion of any such amount paid (or deemed to be paid) to the Swing Line Lender should be recovered by or on behalf of the Borrower from the Swing Line Lender in any bankruptcy proceeding, in any assignment for the benefit of
creditors or otherwise, the loss of the amount so recovered shall be ratably shared among all Lenders in the manner contemplated by Subsection 9.5. 

  
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 (c) Swing Line Loan Assignments. On the Funding Date of each Swing Line
Loan, each Lender shall be deemed to, and hereby agrees to, purchase an assignment of such Swing Line Loan in an amount equal to its Pro Rata Share. If for any reason (1) Revolving Loans are not made upon the request of the Swing Line Lender as
provided in the immediately preceding paragraph in an amount sufficient to repay any amounts owed to the Swing Line Lender in respect of such Swing Line Loan or (2) the Revolving Loan Commitments are terminated at a time when such Swing Line
Loan is outstanding, upon notice from the Swing Line Lender as provided below, each Lender shall fund the purchase of such assignment in an amount equal to its Pro Rata Share (calculated, in the case of the foregoing clause (2), immediately prior to
such termination of the Revolving Loan Commitments) of the unpaid amount of such Swing Line Loan together with accrued interest thereon. Upon one Business Day’s notice from the Swing Line Lender, each Lender shall deliver to the Swing Line
Lender such amount in immediately available funds at the Funding and Payment Office. In order to further evidence such assignment (and without prejudice to the effectiveness of the assignment provisions set forth above), each Lender agrees to enter
into an Assignment Agreement at the request of the Swing Line Lender in form and substance reasonably satisfactory to the Swing Line Lender. In the event any Lender fails to make available to the Swing Line Lender any amount as provided in this
paragraph, the Swing Line Lender shall be entitled to recover such amount on demand from such Lender together with interest thereon at the rate customarily used by the Swing Line Lender for the correction of errors among banks for three Business
Days and thereafter at the Base Rate. In the event the Swing Line Lender receives a payment of any amount with respect to which other Lenders have funded the purchase of assignments as provided in this paragraph, the Swing Line Lender shall promptly
distribute to each such other Lender its Pro Rata Share of such payment. 
 (d) Lenders’ Obligations. Anything
contained herein to the contrary notwithstanding, each Lender’s obligation to make Revolving Loans for the purpose of repaying any Refunded Swing Line Loans pursuant to Subsection 2.1A(ii)(b) and each Lender’s obligation to purchase
an assignment of any unpaid Swing Line Loans pursuant to the immediately preceding paragraph shall be absolute and unconditional and shall not be affected by any circumstance, including (1) any set-off, counterclaim, recoupment, defense or
other right which such Lender may have against the Swing Line Lender, the Borrower or any other Person for any reason whatsoever; (2) the occurrence or continuation of an Event of Default or a Potential Event of Default; (3) any adverse
change in the business, operations, assets or financial condition of the Borrower or any of its Subsidiaries; (4) any breach of this Agreement or any other Loan Document by any party thereto; or (5) any other circumstance, happening or
event whatsoever, whether or not similar to any of the foregoing; provided that such obligations of each Lender are subject to the condition that (x) the Swing Line Lender believed in good faith

  
 29 

 
that all conditions under Section 3 to the making of the applicable Refunded Swing Line Loans or other unpaid Swing Line Loans, as the case may be, were satisfied at the time such
Refunded Swing Line Loans or unpaid Swing Line Loans were made or (y) the satisfaction of any such condition not satisfied had been waived in accordance with Subsection 9.6 prior to or at the time such Refunded Swing Line Loans or other
unpaid Swing Line Loans were made. 
 (e) Other Arrangements. Notwithstanding any other provision hereof, the Borrower
and the Swing Line Lender may agree from time to time upon mutually satisfactory separate arrangements for the borrowing and funding of Swing Line Loans. Such provisions may include, among other things, the making of Swing Line Loans through
disbursements made from an automatic sweep account, which Swing Line Loans shall be deemed to be made upon the making of such disbursements. 

(f) Defaulting Lenders. Notwithstanding anything to the contrary contained in this Subsection 2.1A(ii), the Swing
Line Lender shall not be obligated to make any Swing Line Loans at a time when any other Lender is a Defaulting Lender, unless the Swing Line Lender has entered into arrangements (which may include the delivery of cash collateral) with the Borrower
or such Defaulting Lender which are satisfactory to the Swing Line Lender to eliminate the Swing Line Lender’s risk with respect to any such Defaulting Lender’s funding obligations hereunder (after giving effect to Subsection
2.11C). 
 B. Borrowing Mechanics. Revolving Loans made on any Funding Date (other than Revolving Loans made pursuant to a
request by the Swing Line Lender pursuant to Subsection 2.1A(ii)) shall be in an aggregate minimum amount of $5,000,000 and multiples of $1,000,000 in excess of that amount. Swing Line Loans made on any Funding Date shall be in an aggregate
minimum amount of $500,000 and multiples of $100,000 in excess of that amount. Whenever the Borrower desires that the Lenders make Revolving Loans it shall deliver to the Administrative Agent a Notice of Borrowing duly executed by an Officer of the
Borrower no later than (i) 1:00 P.M. (Central time) at least three (3) Business Days in advance of the proposed Funding Date (in the case of a Eurodollar Rate Loan) and (ii) 1:00 P.M. (Central time) on the proposed Funding Date (in
the case of a Base Rate Loan). Whenever the Borrower desires that the Swing Line Lender make a Swing Line Loan, it shall deliver to the Administrative Agent and the Swing Line Lender a Notice of Borrowing duly executed by an Officer of the Borrower
no later than 4:00 P.M. (Central time) on the proposed Funding Date; provided, that if the Borrower delivers a duly executed Notice of Borrowing to the Administrative Agent and the Swing Line Lender no later than 8:45 A.M. (Central time),
such Swing Line Loan (an “Early Requested Swing Line Loan”) shall be made available by the Swing Line Lender no later than 9:45 A.M. (Central time). Revolving Loans may be continued as or converted into Base Rate Loans
and Eurodollar Rate Loans in the manner provided in Subsection 2.2D. In lieu of delivering a Notice of Borrowing, the Borrower may give the Administrative Agent telephonic notice by the required time of any proposed borrowing under this
Subsection 2.1B; provided that such notice shall be promptly confirmed in writing by delivery of a Notice of Borrowing to the Administrative Agent duly executed by an Officer of the Borrower on or before the applicable Funding Date.

  
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 Neither the Administrative Agent nor any Lender shall incur any liability to the Borrower in
acting upon any telephonic notice referred to above that the Administrative Agent believes in good faith to have been given by an Officer or other person authorized to borrow on behalf of the Borrower or for otherwise acting in good faith under this
Subsection 2.1B or under Subsection 2.2D, and upon funding of Loans by the Lenders, and upon conversion or continuation of the applicable basis for determining the interest rate with respect to any Loans pursuant to Subsection
2.2D, in each case in accordance with this Agreement, pursuant to any such telephonic notice the Borrower shall have effected Loans or a conversion or continuation, as the case may be, hereunder. 

The Borrower shall notify the Administrative Agent prior to the funding of any Loans in the event that, to the Borrower’s knowledge, an
event has occurred and is continuing or would result from the consummation of the borrowing that would constitute an Event of Default or a Potential Event of Default, and the acceptance by the Borrower of the proceeds of any Loans shall constitute a
re-certification by the Borrower, as of the applicable Funding Date, as to the matters to which the Borrower is required to certify in the applicable Notice of Borrowing. 

Except as otherwise provided in Subsections 2.6B, 2.6C and 2.6G, a Notice of Borrowing for, or a Notice of
Conversion/Continuation for conversion to, or continuation of, a Eurodollar Rate Loan (or telephonic notice in lieu thereof) shall be irrevocable on and after the related Interest Rate Determination Date, and the Borrower shall be bound to make a
borrowing or to effect a conversion or continuation in accordance therewith. 
 C. Disbursement of Funds. All Revolving Loans shall
be made by the Lenders simultaneously and proportionately to their respective Pro Rata Shares, it being understood that neither the Administrative Agent nor any Lender shall be responsible for any default by any other Lender in that other
Lender’s obligation to make a Revolving Loan requested hereunder nor shall the amount of the Commitment of any Lender to make the particular Type of Loan requested be increased or decreased as a result of a default by any other Lender in that
other Lender’s obligation to make a Revolving Loan requested hereunder. Promptly after receipt by the Administrative Agent of a Notice of Borrowing pursuant to Subsection 2.1A (or telephonic notice in lieu thereof), the Administrative
Agent shall notify each Lender for that Type of Loan or the Swing Line Lender, as the case may be, of the proposed borrowing. Each Lender with a Revolving Loan Commitment shall make the amount of its Revolving Loan available to the Administrative
Agent in immediately available funds in Dollars requested by the Borrower not later than 4:00 P.M. (Central time) on the applicable Funding Date, and the Swing Line Lender shall make the amount of its Swing Line Loan (other than an Early Requested
Swing Line Loan) available to the Administrative Agent in immediately available funds in Dollars not later than 5:00 P.M. (Central time) on the applicable Funding Date (provided, that with respect to each Early Requested Swing Line Loan, the
Swing Line Lender shall make the amount of such Early Requested Swing Line Loan available in Dollars no later than 9:45 A.M. (Central time) on the applicable Funding Date), in each case at the Funding and Payment Office. Except as provided in
Subsection 2.1A(ii) with respect to Revolving Loans used to repay Refunded Swing Line Loans, upon satisfaction or waiver of the conditions precedent specified in Subsections 3.1 and 3.2, the Administrative Agent shall make the
proceeds of such Revolving Loans advanced to it as set forth above available to the Borrower on the applicable Funding Date by causing the proceeds of all such Revolving Loans received by the Administrative Agent from the Lenders to be credited to
the account of the Borrower at the Funding and Payment Office. 

  
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 Unless the Administrative Agent shall have been notified by any Lender prior to a Funding Date
that such Lender does not intend to make available to the Administrative Agent the amount of such Lender’s Revolving Loan requested on such Funding Date in Dollars, the Administrative Agent may assume that such Lender has made such amount
available to the Administrative Agent on such Funding Date in Dollars and the Administrative Agent may, in its sole discretion, but shall not be obligated to, make available to the Borrower a corresponding amount on such Funding Date. If such
corresponding amount in Dollars is not in fact made available to the Administrative Agent by such Lender, the Administrative Agent shall be entitled to recover such corresponding amount in Dollars on demand from such Lender together with interest
thereon, for each day from such Funding Date until the date such amount is paid to the Administrative Agent, at the customary rate set by the Administrative Agent for the correction of errors among banks for three (3) Business Days and
thereafter at the Base Rate. If such Lender does not pay such corresponding amount in Dollars forthwith upon the Administrative Agent’s demand therefor, the Administrative Agent shall promptly notify the Borrower and the Borrower shall
immediately pay such corresponding amount to the Administrative Agent in Dollars together with interest thereon, for each day from such Funding Date until the date such amount is paid to the Administrative Agent, at the rate payable under this
Agreement for Base Rate Loans. Nothing in this Subsection 2.1C shall be deemed to relieve any Lender from its obligation to fulfill its Commitments hereunder or to prejudice any rights that the Borrower may have against any Lender as a result
of any default by such Lender hereunder. 
 D. The Register. The Administrative Agent, acting for these purposes solely as a
non-fiduciary agent of the Borrower (it being acknowledged that the Administrative Agent, in such capacity, and its officers, directors, employees, agent and affiliates shall constitute Indemnitees under Subsection 9.3), shall maintain (and
make available for inspection by the Borrower and by each Lender, but only as to information regarding the Loans made by such Lender, upon reasonable prior notice at reasonable times) at its address referred to in Schedule 9.8 a register for
the recordation of, and shall record, the names and addresses of the Lenders and the respective amounts of the Revolving Loan Commitment, Swing Line Loan Subfacility, Revolving Loans and Swing Line Loans (and interest on each of the foregoing) of
each Lender from time to time (the “Register”). The Borrower, the Administrative Agent and the Lenders shall deem and treat the Persons listed as Lenders in the Register as the holders and owners of the corresponding Commitments and
Loans listed therein for all purposes hereof; all amounts owed with respect to any Commitment or Loan, absent manifest error, shall be owed to the Lender listed in the Register as the owner thereof; and any request, authority or consent of any
Person who, at the time of making such request or giving such authority or consent, is listed in the Register as a Lender shall be conclusive and binding on any subsequent holder, assignee or transferee of the corresponding Commitments or Loans.
Each Lender shall record on its internal records the amount of its Loans and Commitments and each payment in respect hereof, and any such recordation shall be conclusive and binding on the Borrower subject to the entries in the Register, which shall
govern in the event of any inconsistency with any Lender’s records. Failure to make any recordation in the Register or in any Lender’s records, or any error in such recordation, shall not affect any Loans or Commitments or any Obligations
in respect of any Loans. 

  
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 E. Optional Notes. If so requested by any Lender by written notice to the Borrower (with a
copy to the Administrative Agent) at least two Business Days prior to the Closing Date or at any time thereafter, the Borrower shall execute and deliver to such Lender (and/or, if applicable and if so specified in such notice, to any Person who is
an assignee of such Lender pursuant to Subsection 9.1; provided that the Administrative Agent shall request the return to the Borrower of the assignor’s original promissory note) on the Closing Date (or, if such notice is
delivered after the Closing Date, promptly after the Borrower’s receipt of such notice) a promissory note or promissory notes to evidence such Lender’s Revolving Loans or Swing Line Loans, substantially in the form of Exhibit III or
Exhibit IV, respectively, with appropriate insertions. 
 2.2 Interest on the Loans. 

A. Rate of Interest. Subject to the provisions of Subsections 2.6 and 2.7, each Revolving Loan shall bear interest on the
unpaid principal amount thereof from the date made through maturity (whether by acceleration or otherwise) at a rate determined by reference to the Base Rate or the Eurodollar Rate. Subject to the provisions of Subsection 2.7, each Swing Line
Loan shall bear interest on the unpaid principal amount thereof from the date made through maturity (whether by acceleration or otherwise) at a rate determined by reference to the Base Rate. The applicable basis for determining the rate of interest
with respect to any Revolving Loan shall be selected by the Borrower initially at the time a Notice of Borrowing is given with respect to such Loan pursuant to Subsection 2.1B, and the basis for determining the interest rate with respect
to any Revolving Loan may be changed from time to time pursuant to Subsection 2.2D. If on any day a Revolving Loan is outstanding with respect to which notice has not been delivered to the Administrative Agent in accordance with the terms of
this Agreement specifying the applicable basis for determining the rate of interest, then for that day that Loan shall bear interest determined by reference to the Base Rate. 

(i) Subject to the provisions of Subsections 2.2E, 2.2G and 2.7, the Revolving Loans shall bear interest
through maturity as follows: 
 (a) if a Base Rate Loan, then at the sum of the Base Rate plus the Base Rate Margin;
or 
 (b) if a Eurodollar Rate Loan, then at the sum of the Eurodollar Rate plus the Eurodollar Rate Margin. 

(ii) Subject to the provisions of Subsections 2.2E, 2.2G and 2.7, the Swing Line Loans shall bear interest
through maturity at the Base Rate plus the Base Rate Margin. 
 B. Interest Periods. In connection with each Eurodollar Rate Loan,
the Borrower may, pursuant to the applicable Notice of Borrowing or Notice of Conversion/Continuation, as the case may be, select an interest period (each an “Interest Period”) to be applicable to such Loan, which
Interest Period shall be, at the Borrower’s option, the period commencing on the date such Eurodollar Rate Loan is disbursed or converted to or continued as a Eurodollar Rate Loan and ending on the date one, three or six months thereafter, as
selected by the Borrower in its Notice of Borrowing; provided that: 
 (i) the initial Interest Period for any
Eurodollar Rate Loan shall commence on the Funding Date in respect of such Loan, in the case of a Loan initially made as a Eurodollar Rate Loan, or on the date specified in the applicable Notice of Conversion/Continuation, in the case of a Loan
converted to a Eurodollar Rate Loan; 

  
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 (ii) in the case of immediately successive Interest Periods applicable to a
Eurodollar Rate Loan continued as such pursuant to a Notice of Conversion/Continuation, each successive Interest Period shall commence on the day on which the next preceding Interest Period expires; 

(iii) if an Interest Period would otherwise expire on a day that is not a Business Day, such Interest Period shall expire on
the next succeeding Business Day; provided that, if any Interest Period would otherwise expire on a day that is not a Business Day but is a day of the month after which no further Business Day occurs in such month, such Interest Period shall
expire on the next preceding Business Day; 
 (iv) any Interest Period 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, subject to clause (v) of this Subsection 2.2B, end on the last Business Day of a calendar month; 

(v) no Interest Period with respect to any portion of the Revolving Loans shall extend beyond the Revolving Loan Commitment
Termination Date; 
 (vi) there shall be no more than seven (7) Interest Periods outstanding at any time; 

(vii) in the event the Borrower fails to specify an Interest Period for any Eurodollar Rate Loan in the applicable Notice of
Borrowing or Notice of Conversion/Continuation, the Borrower shall be deemed to have selected an Interest Period of one month. 
 C.
Interest Payments. Subject to the provisions of Subsection 2.2E, interest on each Loan shall be payable in arrears on and to each Interest Payment Date applicable to that Loan, upon any prepayment of that Loan (to the extent accrued on
the amount being prepaid) and at maturity (including final maturity); provided that, in the event any Swing Line Loans or any Revolving Loans that are Base Rate Loans are prepaid pursuant to Subsection 2.4A(i), interest accrued on such
Loans through the date of such prepayment shall be payable on the next succeeding Interest Payment Date applicable to Base Rate Loans (or, if earlier, at final maturity). 

D. Conversion or Continuation. Subject to the provisions of Subsection 2.6, the Borrower shall have the option (i) to
convert at any time all or any part of its outstanding Revolving Loans equal to $5,000,000 and multiples of $1,000,000 in excess of that amount from Loans bearing interest at a rate determined by reference to one basis to Loans bearing interest at a
rate determined by reference to an alternative basis or (ii) upon the expiration of any Interest 

  
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Period applicable to a Eurodollar Rate Loan, to continue all or any portion of such Loan equal to $5,000,000 and multiples of $1,000,000 in excess of that amount as a Eurodollar Rate Loan;
provided, however, that a Eurodollar Rate Loan may only be converted into a Base Rate Loan on the expiration date of an Interest Period applicable thereto. 

The Borrower shall deliver a Notice of Conversion/Continuation to the Administrative Agent duly executed by an Officer of the Borrower no
later than 1:00 P.M. (Central time) (i) on the proposed conversion date (in the case of a conversion to a Base Rate Loan), and (ii) at least three (3) Business Days in advance of the proposed conversion/continuation date (in the case
of a conversion to, or a continuation of, a Eurodollar Rate Loan). In lieu of delivering a Notice of Conversion/Continuation, the Borrower may give the Administrative Agent telephonic notice by the required time of any proposed
conversion/continuation under this Subsection 2.2D; provided that such notice shall be promptly confirmed in writing by delivery of a duly executed Notice of Conversion/Continuation to the Administrative Agent on or before the proposed
conversion/continuation date. The Administrative Agent shall notify each Lender of any Loan subject to a Notice of Conversion/Continuation. 

E. Default Rate. (i) Immediately upon the occurrence and during the continuation of any Event of Default under Subsection
7.1, 7.6 or 7.7, or (ii) at the election of the Requisite Lenders, upon the occurrence and during the continuation of any other Event of Default, the outstanding principal amount of all Loans and, to the extent permitted by
applicable law, any interest payments thereon not paid when due and any fees and other amounts then due and payable hereunder, shall thereafter bear interest (including post-petition interest in any proceeding under the Bankruptcy Code or other
applicable bankruptcy laws) payable upon demand by the Administrative Agent at a rate that is 2% per annum in excess of the interest rate otherwise payable under this Agreement with respect to the applicable Loans (or, in the case of any such
fees and other amounts, at a rate which is 2% per annum in excess of the interest rate otherwise payable under this Agreement for Base Rate Loans); provided that, in the case of Eurodollar Rate Loans, upon the expiration of the Interest
Period in effect at the time any such increase in interest rate is effective such Eurodollar Rate Loans shall thereupon become Base Rate Loans and shall thereafter bear interest payable upon demand at a rate which is 2% per annum in excess of
the interest rate otherwise payable under this Agreement for Base Rate Loans. Payment or acceptance of the increased rates of interest provided for in this Subsection 2.2E is not a permitted alternative to timely payment and shall not
constitute a waiver of any Event of Default or otherwise prejudice or limit any rights or remedies of the Administrative Agent or any Lender. 

F. Computation of Interest. Interest on the Loans shall be computed on the basis of a 365-day year (or a 366-day year in case of a leap
year) with respect to Base Rate Loans and otherwise a 360-day year, in each case for the actual number of days elapsed in the period during which it accrues. In computing interest on any Loan, the date of the making of such Loan or the first day of
an Interest Period applicable to such Loan or, with respect to a Base Rate Loan being converted from a Eurodollar Rate Loan, the date of conversion of such Eurodollar Rate Loan to such Base Rate Loan, as the case may be, shall be included, and the
date of payment of such Loan or the expiration date of an Interest Period applicable to such Loan or, with respect to a Base Rate Loan being converted to a Eurodollar Rate Loan, the date of conversion of such

  
 35 

 
Base Rate Loan to such Eurodollar Rate Loan, as the case may be, shall be excluded; provided that if a Loan is repaid on the same day on which it is made, one day’s interest shall be
paid on that Loan. 
 G. Maximum Rate. Notwithstanding the foregoing provisions of this Subsection 2.2, in no event shall the
rate of interest payable by the Borrower with respect to any Loan exceed the maximum rate of interest permitted to be charged under applicable law. 

2.3 Fees. 

A. Commitment Fee. The Borrower shall pay to the Administrative Agent for the account of each Lender (other than any Defaulting
Lenders) in accordance with its Pro Rata Share, a commitment fee equal to the Applicable Margin times the average daily unused amount of the Revolving Loan Commitment Amount (calculated without giving effect to any outstanding Swing Line Loans) of
the Revolving Credit Lenders (other than the Defaulting Lenders, if any). The commitment fee shall accrue at all times from the Closing Date to the Revolving Loan Commitment Termination Date (and thereafter so long as any Loans remain outstanding),
including at any time during which one or more of the conditions in Subsection 3.2 is not met, computed on the basis of a 360-day year for the actual number of days elapsed, and shall be due and payable in arrears on and to (but excluding)
the last Business Day of each March, June, September and December of each year and on the Revolving Loan Commitment Termination Date. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Margin
during any quarter, the average daily unused amount shall be computed and multiplied by the Applicable Margin separately for each period during such quarter that such Applicable Margin was in effect. 

B. Other Fees. The Borrower agrees to pay to the Administrative Agent such fees in the amounts and at the times separately agreed upon
in writing between the Borrower and the Administrative Agent. 
 2.4 Repayments, Prepayments and Reductions of Revolving Loan
Commitment Amount; General Provisions Regarding Payments. 
 A. Prepayments and Reductions in Revolving Loan Commitment
Amount. 
 (i) Voluntary Prepayments. The Borrower may, upon written or telephonic notice to the Administrative
Agent no later than 1:00 P.M. (Central time) on the date of prepayment, which notice, if telephonic, shall be promptly confirmed in writing, at any time and from time to time prepay, without premium or penalty, any Swing Line Loan on any Business
Day in whole or in part in an aggregate minimum amount of $500,000 and multiples of $100,000 in excess of that amount. The Borrower may, upon written or telephonic notice (which notice, if telephonic, shall be promptly confirmed in writing) to the
Administrative Agent (who will promptly notify each Lender whose Loans are to be prepaid of such prepayment) (A) no later than 9:00 A.M. (Central time) on the date of prepayment in the case of Base Rate Loans and (B) no later than 12:00
P.M. (Central time) at least three (3) Business Days’ prior to the date of prepayment in the case of 

  
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Eurodollar Rate Loans, prepay, at any time and from time to time prepay, without premium or penalty, any Revolving Loans on any Business Day in whole or in part in an aggregate minimum amount of
$5,000,000 and multiples of $1,000,000 in excess of that amount. Notice of prepayment having been given as aforesaid, the principal amount of the Loans specified in such notice shall become due and payable on the prepayment date specified therein.
Any such voluntary prepayment shall be applied as specified in Subsection 2.4A(iv) and, in the case of Eurodollar Rate Loans, shall be subject to Subsection 2.6D. 

(ii) Voluntary Reductions of Revolving Loan Commitments. The Borrower may, upon not less than three Business Days’
prior written or telephonic notice confirmed in writing to the Administrative Agent, or upon such lesser number of days’ prior written or telephonic notice, as consented to by the Administrative Agent in its sole discretion, at any time and
from time to time, terminate in whole or permanently reduce in part, without premium or penalty, the Revolving Loan Commitment Amount in an amount up to the amount by which the Revolving Loan Commitment Amount exceeds the Total Utilization of
Revolving Loan Commitments at the time of such proposed termination or reduction; provided that any such partial reduction of the Revolving Loan Commitment Amount shall be in an aggregate minimum amount of $5,000,000 and multiples of
$1,000,000 in excess of that amount. The Borrower’s notice to the Administrative Agent (who will promptly notify each Lender of such notice) shall designate the date (which shall be a Business Day) of such termination or reduction and the
amount of any partial reduction, and such termination or reduction shall be effective on the date specified in the Borrower’s notice and shall reduce the amount of the Revolving Loan Commitment of each Lender proportionately to its Pro Rata
Share. Any such voluntary reduction of the Revolving Loan Commitment Amount shall be applied as specified in Subsection 2.4A(iv). 

(iii) Mandatory Prepayments. The Borrower shall from time to time prepay first the Swing Line Loans and
second the Revolving Loans to the extent necessary so that the Total Utilization of Revolving Loan Commitments shall not at any time exceed the Revolving Loan Commitment Amount then in effect, including in connection with any voluntary
reduction of the Revolving Loan Commitment Amount in accordance with clause (ii) above. At such time as the Total Utilization of Revolving Loan Commitments shall be equal to or less than the Revolving Loan Commitment Amount if no Event of
Default has occurred and is continuing, to the extent any cash collateral was provided by the Borrower and has not been applied to any Obligations, such amount shall promptly be released to the Borrower. 

(iv) Application of Prepayments. 

(a) Application of Voluntary Prepayments. Any voluntary prepayments pursuant to Subsection 2.4A(i) shall be
applied as specified by the Borrower in the applicable notice of prepayment; provided that in the event the Borrower fails to specify the Loans to which any such prepayment shall be applied, such prepayment shall be applied first to
repay outstanding Swing Line Loans to the full extent thereof, and second to repay outstanding Revolving Loans to the full extent thereof. 

  
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 (b) Application of Voluntary Reductions. Any voluntary reduction of the
Revolving Loan Commitment Amount pursuant to this Subsection 2.4A shall be in proportion to each Lender’s Pro Rata Share. 

(c) Application of Mandatory Prepayments. Any mandatory prepayments pursuant to Subsection 2.4A(iii) shall be
applied first to repay outstanding Swing Line Loans to the full extent thereof, and second to repay outstanding Revolving Loans to the full extent thereof. 

(d) Application of Prepayments to Base Rate Loans and Eurodollar Rate Loans. Considering Revolving Loans being prepaid
separately, any prepayment thereof shall be applied first to Base Rate Loans to the full extent thereof before application to Eurodollar Rate Loans, in each case in a manner that minimizes the amount of any payments required to be made by the
Borrower pursuant to Subsection 2.6D. 
 (e) Application of Prepayments to Swing Line Loans. Any repayments of
Swing Line Loans pursuant to this Subsection 2.4 shall be applied pro rata among the outstanding Swing Line Loans. 
 B. General
Provisions Regarding Payments. 
 (i) Manner and Time of Payment. Except as otherwise expressly provided herein,
all payments by the Borrower of principal, interest, fees and other Obligations shall be made in Dollars in immediately available funds, without defense, setoff or counterclaim, free of any restriction or condition, and delivered to the
Administrative Agent not later than 3:30 P.M. (Central time) on the date due at the Funding and Payment Office for the account of Lenders; funds received by the Administrative Agent after that time on such due date shall be deemed to have been paid
by the Borrower on the next succeeding Business Day. 
 (ii) Application of Payments to Principal and Interest. All
payments in respect of the principal amount of any Loan shall include payment of accrued interest on the principal amount being repaid or prepaid, and, except as provided in Subsection 2.2C, all such payments shall be applied to the
payment of interest before application to principal. 
 (iii) Apportionment of Payments. Aggregate payments of
principal and interest shall be apportioned among all outstanding Loans to which such payments relate, in each case proportionately to Lenders’ respective Pro Rata Shares. The Administrative Agent shall promptly distribute to each Lender, at
the account specified in the payment instructions delivered to the Administrative Agent by such Lender, its Pro Rata Share of all such payments received by the Administrative Agent and fees of such Lender, if any, when received by the Administrative
Agent pursuant to Subsection 2.3. Notwithstanding the foregoing provisions of this Subsection 2.4B(iii), if, pursuant to the provisions of Subsection 2.6C, any Notice of Conversion/Continuation is withdrawn as to any Affected

  
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Lender or if any Affected Lender makes Base Rate Loans in lieu of its Pro Rata Share of any Eurodollar Rate Loans, the Administrative Agent shall give effect thereto in apportioning interest
payments received thereafter. 
 (iv) Payments on Business Days. Whenever any payment to be made hereunder shall be
stated to be due on a day that is not a Business Day, such payment shall be made on the next succeeding Business Day and such extension of time shall be included in the computation of the payment of interest hereunder or of the commitment fees
hereunder, as the case may be. 
 (v) Defaulting Lenders. Notwithstanding the foregoing clause (i), if there exists a
Defaulting Lender each payment by the Borrower to such Defaulting Lender hereunder shall be applied in accordance with Subsection 2.11B. 

C. Payments after Event of Default. Upon the occurrence and during the continuation of an Event of Default, if requested by Requisite
Lenders, or upon acceleration of the Obligations pursuant to Section 7, all payments received by the Administrative Agent, whether from the Borrower or otherwise shall be applied in full or in part by the Administrative Agent, in each
case in the following order of priority: 
 (i) to the payment of all costs and expenses of collection or other realization,
all other expenses, liabilities and advances made or incurred by the Administrative Agent in connection therewith, and all amounts for which the Administrative Agent is entitled to compensation (including the fees described in Subsection
2.3B), reimbursement and indemnification under any Loan Document and all advances made by the Administrative Agent thereunder for the account of the Borrower, and to the payment of all costs and expenses paid or incurred by the Administrative
Agent in connection with the Loan Documents, all in accordance with Subsections 8.4, 9.2 and 9.3 and the other terms of this Agreement and the Loan Documents; 

(ii) to payment of that portion of the Obligations constituting fees, indemnities, expenses and other amounts, including
attorney fees, payable to the Swing Line Lender in its capacity as such; 
 (iii) to payment of that portion of the
Obligations constituting fees, indemnities and other amounts (other than principal and interest) payable to the Lenders under the Loan Documents, including attorney fees (ratably among the Lenders in proportion to the respective amounts described in
this clause (iii) payable to them); 
 (iv) to payment of that portion of the Obligations constituting accrued and
unpaid interest on the Loans (ratably among the Lenders in proportion to the respective amounts described in this clause (iv) payable to them); 

(v) to payment of that portion of the Obligations constituting unpaid principal of the Loans (ratably among the Lenders in
proportion to the respective amounts described in this clause (v) held by them); and 
 (vi) the balance, if any, after
all of the Obligations have been indefeasibly paid in full, to the Borrower or as otherwise required by applicable law. 

  
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 2.5 Use of Proceeds. 

A. Loans. The proceeds of any Loans may be applied by the Borrower for working capital or any other general corporate purposes. 

B. Margin Regulations. No portion of the proceeds of any borrowing under this Agreement shall be used by the Borrower or any of its
Subsidiaries in any manner that would cause the borrowing or the application of such proceeds to violate Regulation U, Regulation T or Regulation X of the Board of Governors of the Federal Reserve System or any other regulation of such Board or to
violate the Exchange Act, in each case as in effect on the date or dates of such borrowing and such use of proceeds. 
 2.6 Special
Provisions Governing Loans based on the Eurodollar Rate. 
 Notwithstanding any other provision of this Agreement to the contrary,
the following provisions shall govern with respect to Eurodollar Rate Loans or Base Rate Loans as to which the interest rate is determined by reference to the Eurodollar Rate as to the matters covered: 

A. Determination of Applicable Interest Rate. On each Interest Rate Determination Date, the Administrative Agent shall determine in
accordance with the terms of this Agreement (which determination shall, absent manifest error, be conclusive and binding upon all parties) the Eurodollar Rate that shall apply to the Loans for which an interest rate is then being determined for the
applicable Interest Period and shall promptly give notice thereof (in writing or by telephone confirmed in writing) to the Borrower and each applicable Lender. 

B. Inability to Determine Applicable Interest Rate. If with respect to any Interest Period: 

(i) the Administrative Agent determines that, or the Requisite Lenders determine and advise the Administrative Agent that,
deposits in Dollars (in the applicable amounts) are not being offered in the London interbank eurodollar market for such Interest Period; or 

(ii) the Administrative Agent otherwise determines, or the Requisite Lenders determine and advise the Administrative Agent
(which determination shall be binding and conclusive on all parties), that by reason of circumstances affecting the London interbank eurodollar market adequate and reasonable means do not exist for ascertaining the applicable Eurodollar Rate; or

 (iii) the Administrative Agent determines, or the Requisite Lenders determine and advise the Administrative Agent, that
the Eurodollar Rate as determined by the Administrative Agent will not adequately and fairly reflect the cost to the Lenders of maintaining or funding a Eurodollar Rate Loan or a Base Rate Loan as to which the interest rate is determined by
reference to the Eurodollar Rate for such Interest Period, or 

  
 40 

 
that the making or funding of Eurodollar Rate Loan or a Base Rate Loan as to which the interest rate is determined by reference to the Eurodollar Rate has become impracticable as a result of an
event occurring after the date of this Agreement which in the opinion of such Lenders materially affects such Loans; 
 then the Administrative Agent shall
promptly notify the affected parties and (A) in the event of any occurrence described in the foregoing clause (i) the Borrower shall enter into good faith negotiations with each affected Lender in order to determine an alternate method to
determine the Eurodollar Rate for such Lender, and during the pendency of such negotiations with any Lender, such Lender shall be under no obligation to make any new Eurodollar Rate Loan or a Base Rate Loan as to which the interest rate is
determined by reference to the Eurodollar Rate, and (B) in the event of any occurrence described in the foregoing clauses (ii) or (iii), for so long as such circumstances shall continue, no Lender shall be under any obligation to make any
new Eurodollar Rate Loan or a Base Rate Loan as to which the interest rate is determined by reference to the Eurodollar Rate. 
 C.
Illegality or Impracticability of Eurodollar Rate Loans. In the event that on any date any Lender shall have determined (which determination shall be conclusive and binding upon all parties hereto but shall be made only after consultation with
the Borrower and the Administrative Agent) that the making, maintaining or continuation of its Eurodollar Rate Loans or Base Rate Loans as to which the interest rate is determined by reference to the Eurodollar Rate (i) has become unlawful as a
result of compliance by such Lender in good faith with any law, treaty, governmental rule, regulation, guideline or order (or would conflict with any such treaty, governmental rule, regulation, guideline or order not having the force of law even
though the failure to comply therewith would not be unlawful) or (ii) has become impracticable, or would cause such Lender material hardship, as a result of contingencies occurring after the date of this Agreement which materially and adversely
affect the interbank Eurodollar market or the position of such Lender in that market, then, and in any such event, such Lender shall be an “Affected Lender” and it shall on that day give notice (by telephone confirmed
in writing) to the Borrower and the Administrative Agent of such determination. The Administrative Agent shall promptly notify each other Lender of the receipt of such notice. Thereafter (a) the obligation of the Affected Lender to make Loans
as, or to convert Loans to, Eurodollar Rate Loans or Base Rate Loans as to which the interest rate is determined by reference to the Eurodollar Rate shall be suspended until such notice shall be withdrawn by the Affected Lender, (b) to the
extent such determination by the Affected Lender relates to a Eurodollar Rate Loan or Base Rate Loan as to which the interest rate is determined by reference to the Eurodollar Rate then being requested by the Borrower pursuant to a Notice of
Borrowing or a Notice of Conversion/Continuation, the Affected Lender shall make such Loan as (or convert such Loan to, as the case may be) a Base Rate Loan as to which the interest rate is not determined by reference to the Eurodollar Rate,
(c) the Affected Lender’s obligation to maintain its outstanding Eurodollar Rate Loans or Base Rate Loans as to which the interest rate is determined by reference to the Eurodollar Rate (the “Affected Loans”) shall be
terminated at the earlier to occur of the expiration of the Interest Period then in effect with respect to the Affected Loans or when required by law, and (d) the Affected Loans shall automatically convert into Base Rate Loans as to which the
interest rate is not determined by reference to the Eurodollar Rate on the date of such termination. Notwithstanding the foregoing, to the extent a determination by an Affected Lender as described above relates to a Eurodollar Rate Loan or Base Rate
Loan as to 

  
 41 

 
which the interest rate is determined by reference to the Eurodollar Rate then being requested by the Borrower pursuant to a Notice of Borrowing or a Notice of Conversion/Continuation, the
Borrower shall have the option, subject to the provisions of Subsection 2.6D, to rescind such Notice of Borrowing or Notice of Conversion/Continuation as to all Lenders by giving notice (by telephone confirmed in writing) to the
Administrative Agent of such rescission on the date on which the Affected Lender gives notice of its determination as described above. The Administrative Agent shall promptly notify each other Lender of the receipt of such notice. Except as provided
in the immediately preceding sentence, nothing in this Subsection 2.6C shall affect the obligation of any Lender other than an Affected Lender to make or maintain Loans as, or to convert Loans to, Eurodollar Rate Loans or Base Rate Loans as
to which the interest rate is determined by reference to the Eurodollar Rate in accordance with the terms of this Agreement. 
 D.
Compensation For Breakage or Non-Commencement of Interest Periods. The Borrower shall compensate each Lender, upon prompt written request by that Lender pursuant to Subsection 2.8A, for all reasonable losses, expenses and liabilities
(including any interest paid by that Lender to lenders of funds borrowed by it to make or carry its applicable Loans and any loss, expense or liability sustained by that Lender in connection with the liquidation or re-employment of such funds) which
that Lender may sustain: (i) if for any reason (other than a default by that Lender) a borrowing of any Eurodollar Rate Loan does not occur on a date specified therefor in a Notice of Borrowing or a telephonic request therefor, or a conversion
to or continuation of any Eurodollar Rate Loan does not occur on a date specified therefor in a Notice of Conversion/Continuation or a telephonic request therefor, (ii) if any prepayment or other principal payment or any conversion of any of
its Eurodollar Rate Loans (including any prepayment or conversion occasioned by the circumstances described in Subsection 2.6C or the paragraph following Subsection 7.14) occurs on a date prior to the last day of an Interest
Period applicable to that Loan, (iii) if any prepayment of any of its Eurodollar Rate Loans is not made on any date specified in a notice of prepayment given by the Borrower, or (iv) as a consequence of any other default by the Borrower in
the repayment of its Eurodollar Rate Loans on a date prior to the last day of the Interest Period therefor. Breakage cost loss shall consist of an amount equal to the excess, if a positive number, of (i) the amount of interest that 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 Eurodollar Rate Loans provided for herein (excluding, however, the Eurodollar Rate
Margin included therein, if any) over (ii) the amount of interest (as reasonably determined by such Lender) that 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. 
 E. Booking of Eurodollar Rate Loans. Any Lender may make, carry or transfer Eurodollar Rate Loans
at, to, or for the account of any of its branch offices or the office of an Affiliate of that Lender to the extent that it is necessary or useful to facilitate the transactions contemplated by this Agreement, so long as such action does not, by
itself, upon the taking of such action, knowingly cause the Borrower to incur any Obligation under Subsection 2.7. 

  
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 F. Assumptions Concerning Funding of Eurodollar Rate Loans. Calculation of all
amounts payable to a Lender under this Subsection 2.6 and under Subsection 2.7A shall be made as though that Lender had funded each of its Eurodollar Rate Loans through the purchase of a Eurodollar deposit bearing interest at the rate
obtained pursuant to clause (a) of the definition of Eurodollar Rate in an amount equal to the amount of such Eurodollar Rate Loan and having a maturity comparable to the relevant Interest Period, whether or not its Eurodollar Rate Loans had
been funded in such manner. 
 G. Eurodollar Rate Loans After Default. After the occurrence of and during the continuation of an
Event of Default, (i) the Borrower may not elect to have a Loan be made or maintained as, or converted to, a Eurodollar Rate Loan after the expiration of any Interest Period then in effect for that Loan and (ii) subject to the provisions
of Subsection 2.6D, any Notice of Borrowing or Notice of Conversion/Continuation given by the Borrower with respect to a requested borrowing or conversion/continuation that has not yet occurred shall be deemed to be for a Base Rate Loan or,
if the conditions to making a Loan set forth in Subsection 3.2 cannot then be satisfied, to be rescinded by the Borrower. 
 2.7
Increased Costs; Taxes; Capital Adequacy. 
 A. Compensation for Increased Costs. Subject to the provisions of
Subsection 2.7B (which shall be controlling with respect to the matters covered thereby), in the event that any Lender shall determine (which determination shall be final and conclusive and binding upon all parties hereto) that any Change in
Law: 
 (i) subjects such Lender to any additional Tax of any kind whatsoever with respect to this Agreement or any of its
obligations hereunder (including with respect to maintaining any Commitment hereunder) or any payments to such Lender of principal, interest, fees or any other amount payable hereunder (except for the imposition of, or any change in the rate of, any
Excluded Tax payable by such Lender); 
 (ii) imposes, modifies or holds applicable any reserve, special deposit, compulsory
loan, insurance charge or similar requirement against assets held by, or deposits or other liabilities in or for the account of, or advances or loans by, or other credit extended by, or any other acquisition of funds by, any office of such Lender
(other than any such reserve or other requirements with respect to Eurodollar Rate Loans that are reflected in the definition of Eurodollar Rate); or 

(iii) imposes any other condition (other than with respect to Taxes) on or affecting such Lender or its obligations hereunder
or the interbank Eurodollar market; and the result of any of the foregoing is to increase the cost to such Lender of agreeing to make, making or maintaining its Loans or Commitments; then, in any such case, the Borrower shall promptly, and in any
event within ten (10) Business Days, pay to such Lender, upon receipt of the statement referred to in Subsection 2.8A, such additional amount or amounts (in the form of an increased rate of, or a different method of calculating, interest
or otherwise as such Lender in its sole discretion may reasonably determine) as may be necessary to compensate such Lender on an after-tax basis for any such increased cost or reduction in amounts received or receivable hereunder. The

  
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Borrower shall not be required to compensate a Lender pursuant to this Subsection 2.7A for any increased cost or reduction in respect of a period occurring more than 180 days prior to the
date on which such Lender notifies the Borrower of such Change in Law and such Lender’s intention to claim compensation therefor, except, if the Change in Law giving rise to such increased cost or reduction is retroactive, no such 180 day time
limitation shall apply to such period of retroactivity, so long as such Lender requests compensation within 180 days from the date on which the applicable Government Authority informed Lender of such Change in Law. 

B. Taxes. 

(i) Payments to Be Free and Clear. Any and all payments by or on account of any obligation of the Borrower under this
Agreement and the other Loan Documents shall be made free and clear of, and without any deduction or withholding on account of, any Indemnified Taxes or Other Taxes. 

(ii) Grossing-up of Payments. If the Borrower or any other Person is required by law to make any deduction or
withholding on account of any Tax from any sum paid or payable by or on account of the Borrower to the Administrative Agent or any Lender under any of the Loan Documents: 

(a) the Borrower shall notify the Administrative Agent of any such requirement or any change in any such requirement as soon as
the Borrower becomes aware of it; 
 (b) the Borrower shall timely pay any such Tax to the relevant Government Authority when
such Tax is due, in accordance with applicable law; 
 (c) unless such Tax is an Excluded Tax, the sum payable by the
Borrower shall be increased to the extent necessary to ensure that, after making the required deductions (including deductions applicable to additional sums payable under this Subsection 2.7B(ii)), the Administrative Agent or such Lender, as
the case may be, receives on the due date a net sum equal to the sum it would have received had no such deduction been required or made; and 

(d) as soon as practical after the due date of payment of any Tax which it is required by clause (b) above to pay, the
Borrower shall deliver to the Administrative Agent the original or a certified copy of an official receipt or other document reasonably satisfactory to the other affected parties to evidence the payment and its remittance to the relevant Government
Authority. 
 (iii) Indemnification by the Borrower. The Borrower shall indemnify the Administrative Agent and each
Lender, within 30 days after the date the Administrative Agent or such Lender (as the case may be) makes written demand therefor, for the full amount of any Indemnified Taxes or Other Taxes (including for the full amount of any Indemnified Taxes or
Other Taxes imposed or asserted on or attributable to amounts payable under this Subsection 2.7B(iii)) paid by the Administrative Agent or such Lender, as the case may be, and any penalties, interest and reasonable expenses arising

  
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therefrom or with respect thereto, whether or not such Indemnified Taxes were correctly or legally imposed or asserted by the relevant Government Authority. A certificate as to the amount of such
payment or liability and the calculations used to determine such amount delivered to the Borrower by a Lender (with a copy to the Administrative Agent), or by the Administrative Agent on its own behalf or on behalf of a Lender, shall be conclusive.

 (iv) Tax Status of Lenders. Unless not legally entitled to do so: 

(a) any Lender, if requested by the Borrower or the Administrative Agent, shall deliver such forms or other documentation
prescribed by applicable law or reasonably requested by the Borrower or the Administrative Agent as will enable the Borrower or the Administrative Agent to determine whether or not such Lender is subject to United States backup withholding or
information reporting requirements; 
 (b) any Foreign Lender that is entitled to an exemption from or reduction of any Tax
with respect to payments hereunder or under any other Loan Document shall deliver to the Borrower and the Administrative Agent, on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time
thereafter, as may be necessary in the determination of the Borrower or the Administrative Agent, each in the reasonable exercise of its discretion), such properly completed and duly executed forms or other documentation prescribed by applicable law
as will permit such payments to be made without United States withholding or at a reduced rate of withholding; 
 (c) without
limiting the generality of the foregoing, in the event that the Borrower is resident for tax purposes in the United States, any Foreign Lender shall deliver to the Borrower and the Administrative Agent (in such number of copies as shall be requested
by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter, as may be necessary in the determination of the Borrower or the Administrative Agent, each in the
reasonable exercise of its discretion), whichever of the following is applicable: 
 (1) properly completed and duly
executed copies of Internal Revenue Service Form W-8BEN claiming eligibility for benefits of an income tax treaty to which the United States is a party, or 

(2) properly completed and duly executed copies of Internal Revenue Service Form W-8ECI, or 

(3) in the case of a Foreign Lender claiming the benefits of the exemption for “portfolio interest” under
Section 881(c) of the Internal Revenue Code, (A) a duly executed 

  
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certificate to the effect that such Foreign Lender is not (i) a “bank” within the meaning of Section 881(c)(3)(A) of the Internal Revenue Code, (ii) a ten-percent
shareholder (within the meaning of Section 881(c)(3)(B) of the Internal Revenue Code) of the Borrower or (iii) a controlled foreign corporation described in Section 881(c)(3)(C) of the Internal Revenue Code and (B) properly
completed and duly executed copies of Internal Revenue Service Form W-8BEN, 
 (4) properly completed and duly executed
copies of any other form prescribed by applicable law as a basis for claiming exemption from or a reduction in any Tax, 
 in each case
together with such supplementary documentation as may be prescribed by applicable law to permit the Borrower and the Administrative Agent to determine the withholding or deduction required to be made, if any; 

(d) without limiting the generality of the foregoing, in the event that the Borrower is resident for tax purposes in the United
States, any Foreign Lender that does not act or ceases to act for its own account with respect to any portion of any sums paid or payable to such Lender under any of the Loan Documents (for example, in the case of a typical participation by such
Lender) shall deliver to the Administrative Agent and the Borrower (in such number of copies as shall be requested by the recipient), on or prior to the date such Foreign Lender becomes a Lender, or on such later date when such Foreign Lender ceases
to act for its own account with respect to any portion of any such sums paid or payable, and from time to time thereafter, as may be necessary in the determination of the Borrower or the Administrative Agent (each in the reasonable exercise of its
discretion): 
 (1) duly executed and properly completed copies of the forms and statements required to be provided by such
Foreign Lender under clause (c) of Subsection 2.7B(iv), to establish the portion of any such sums paid or payable with respect to which such Lender acts for its own account and may be entitled to an exemption from or a reduction of the
applicable Tax, and 
 (2) duly executed and properly completed copies of Internal Revenue Service Form W-8IMY (or any
successor forms) properly completed and duly executed by such Foreign Lender, together with any information, if any, such Foreign Lender chooses to transmit with such form, and any other certificate or statement of exemption required under the
Internal Revenue Code or the regulations thereunder, to establish that such Foreign Lender is not acting for its own account with respect to a portion of any such sums payable to such Foreign Lender; 

  
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 (e) without limiting the generality of the foregoing, in the event that the
Borrower is resident for tax purposes in the United States, any Lender that is not a Foreign Lender and has not otherwise established to the reasonable satisfaction of the Borrower and the Administrative Agent that it is an exempt recipient (as
defined in Section 6049(b)(4) of the Internal Revenue Code and the United States Treasury Regulations thereunder) shall deliver to the Borrower and the Administrative Agent (in such numbers of copies as shall be requested by the recipient) on
or prior to the date on which such Lender becomes a Lender under this Agreement (and from time to time thereafter as prescribed by applicable law or upon the request of the Borrower or the Administrative Agent), duly executed and properly completed
copies of Internal Revenue Service Form W-9; and 
 (f) without limiting the generality of the foregoing, each Lender hereby
agrees, from time to time after the initial delivery by such Lender of such forms, whenever a lapse in time or change in circumstances renders such forms, certificates or other evidence so delivered obsolete or inaccurate in any material respect,
that such Lender shall promptly (1) deliver to the Administrative Agent and the Borrower two original copies of renewals, amendments or additional or successor forms, properly completed and duly executed by such Lender, together with any other
certificate or statement of exemption required in order to confirm or establish that such Lender is entitled to an exemption from or reduction of any Tax with respect to payments to such Lender under the Loan Documents and, if applicable, that such
Lender does not act for its own account with respect to any portion of such payment, or (2) notify the Administrative Agent and the Borrower of its inability to deliver any such forms, certificates or other evidence. 

(v) FATCA. If a payment made to a Lender under any Loan Document would be subject to United States federal withholding
Tax imposed by FATCA if such 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 Internal Revenue Code, as applicable), such Lender shall deliver to
the Borrower and the Administrative Agent at the time or times prescribed by law and at such time or times reasonably requested by the Borrower or the Administrative Agent such documentation prescribed by applicable law (including as prescribed by
Section 1471(b)(3)(C)(i) of the Internal Revenue Code) and such additional documentation reasonably requested by the Borrower or the Administrative Agent as may be necessary for the Borrower and the Administrative Agent to comply with their
obligations under FATCA and to determine that such Lender has complied with such Lender’s obligations under FATCA or to determine the amount to deduct and withhold from such payment. Solely for purposes of this paragraph (v), “FATCA”
shall include any amendments made to FATCA after the date of this Agreement. 
 (vi) Refunds. If the Administrative
Agent or any Lender becomes aware that it is entitled to claim a refund from a Government Authority or other taxation authority in respect of any Indemnified Taxes or Other Taxes as to which it has been indemnified by the Borrower or with respect to
which the Borrower has paid additional amounts pursuant to this Subsection 2.7B it shall promptly notify the Borrower of the availability of such 

  
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refund claim and shall, within 30 days after receipt of a request by the Borrower, make a claim to such Government Authority or taxation authority for such refund at the Borrower’s expense.
If the Administrative Agent or any Lender receives a refund (including pursuant to a claim made pursuant to the preceding sentence) in respect of any Indemnified Taxes or Other Taxes as to which it has been indemnified by the Borrower or with
respect to which the Borrower has paid additional amounts pursuant to this Subsection 2.7B, 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 Subsection 2.7B with respect to the Indemnified Taxes or Other Taxes giving rise to such refund), net of all reasonable out-of-pocket expenses of the Administrative Agent or such Lender and without interest (other than any interest paid
by the relevant Government Authority or taxation authority with respect to such refund); provided, that the Borrower, upon the request of the 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 Government Authority or taxation authority) to the Administrative Agent or such Lender in the event the Administrative Agent or such Lender is required to repay such refund to such
Government Authority. This paragraph shall not be construed to require the Administrative Agent or any Lender to make available its tax returns (or any other information relating to its taxes which it deems confidential) to the Borrower or any other
Person. 
 (vii) Indemnification of the Administrative Agent. Each Lender shall severally indemnify the Administrative
Agent, within ten (10) days after demand therefor, for any Taxes (but, in the case of Indemnified Taxes and Other Taxes, only to the extent that the Borrower has not already indemnified the Administrative Agent for such Indemnified Taxes or
Other Taxes and without limiting the obligation of the Borrower to do so) attributable to such Lender that are payable or paid by the Administrative Agent, and any reasonable expenses arising therefrom or with respect thereto, whether or not such
Taxes were correctly or legally imposed or asserted by the relevant Government Authority. A certificate as to the amount of such payment or liability delivered to any Lender by the Administrative Agent shall be conclusive absent manifest error. Each
Lender hereby authorizes the Administrative Agent to set off and apply any and all amounts at any time owing to such Lender under any Loan Document or otherwise payable by the Administrative Agent to the Lender from any other source against any
amount due to the Administrative Agent under this paragraph (vii). The agreements in this paragraph (vii) shall survive the resignation and/or replacement of the Administrative Agent. 

(viii) Survival. Without prejudice to the survival of any other agreement of the Borrower hereunder, the agreements and
obligations of the Borrower contained in this Section shall survive the payment in full of the Obligations and the termination of the Revolving Loan Commitment. 

C. Capital Adequacy Adjustment. If any Lender shall have determined that any Change in Law regarding capital adequacy has or would have
the effect of reducing the rate of return on the capital of such Lender or any corporation controlling such Lender as a consequence of, or with reference to, such Lender’s Loans or Commitments or other obligations hereunder with respect to the
Loans to a level below that which such Lender or such controlling 

  
 48 

 
corporation could have achieved but for such Change in Law (taking into consideration the policies of such Lender or such controlling corporation with regard to capital adequacy), then from time
to time, within ten Business Days after receipt by the Borrower from such Lender of the statement referred to in Subsection 2.8A, the Borrower shall pay to such Lender such additional amount or amounts as will compensate such Lender or such
controlling corporation on an after-tax basis for such reduction. The Borrower shall not be required to compensate a Lender pursuant to this Subsection 2.7C for any reduction in respect of a period occurring more than 180 days prior to the
date on which such Lender notifies the Borrower of such Change in Law and such Lender’s intention to claim compensation therefor, except, if the Change in Law giving rise to such reduction is retroactive, no such 180 day time limitation shall
apply to such period of retroactivity, so long as such Lender requests compensation within 180 days from the date on which the applicable Government Authority informed such Lender of such Change in Law. 

2.8 Statement of Lenders; Obligation of Lenders to Mitigate. 

A. Statements. Each Lender claiming compensation or reimbursement pursuant to Subsection 2.6D, 2.7 or 2.8B shall,
as promptly as practical, deliver to the Borrower (with a copy to the Administrative Agent) a written statement, setting forth in reasonable detail the basis of the calculation of such compensation or reimbursement, which statement shall be
conclusive and binding upon all parties hereto. 
 B. Mitigation. Each Lender agrees that, as promptly as practicable after the
officer of such Lender responsible for administering the Loans of such Lender becomes aware of the occurrence of an event or the existence of a condition that would cause such Lender to become an Affected Lender or that would entitle such Lender to
receive payments under Subsection 2.7, it will use reasonable efforts to make, issue, fund or maintain the Commitments of such Lender or the Loans of such Lender through another lending office of such Lender, if (i) as a result thereof
the circumstances which would cause such Lender to be an Affected Lender would cease to exist or the additional amounts which would otherwise be required to be paid to such Lender pursuant to Subsection 2.7 would be materially reduced
and (ii) as determined by such Lender in its sole discretion, such action would not otherwise be disadvantageous to such Lender; provided that such Lender will not be obligated to utilize such other lending office pursuant to this
Subsection 2.8B unless the Borrower agrees to pay all incremental expenses incurred by such Lender as a result of utilizing such other lending as described above. 

2.9 Replacement of a Lender. 

If (i) the Borrower receives notice that it may incur Obligations under Subsection 2.7 through a written statement under
Subsection 2.8A from the Administrative Agent or a Lender or otherwise (other than for breakage costs under Subsection 2.6D), (ii) a Lender is a Defaulting Lender, (iii) a Lender (a “Non-Consenting Lender”)
refuses to consent to an amendment, modification or waiver of this Agreement that, pursuant to Subsection 9.6, requires the consent of such Lender and such amendment, modification or waiver has been approved by the Requisite Lenders, or
(iv) a Lender becomes an Affected Lender (any such Lender, a “Subject Lender”), so long as (i) no Event of Default shall have occurred and be continuing and the Borrower has obtained a commitment from another Lender or an
Eligible Assignee to purchase at par the Subject Lender’s Loans and assume the Subject Lender’s Commitments and 

  
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all other obligations of the Subject Lender hereunder and (ii), if applicable, the Subject Lender is unwilling to withdraw the notice delivered to the Borrower pursuant to Subsection 2.8
upon ten (10) days prior written notice to the Subject Lender and the Administrative Agent and/or is unwilling to remedy its default upon three days prior written notice to the Subject Lender and the Administrative Agent, the Borrower may
require the Subject Lender to assign all of its Loans and Commitments to such other Lender, Lenders, Eligible Assignee or Eligible Assignees pursuant to the provisions of Subsection 9.1B; provided that, prior to or concurrently with
such replacement, (1) the Subject Lender shall have received payment in full of all principal, interest, fees and other amounts actually due and owing (including all amounts under Subsections 2.6D, 2.7 and/or 2.8B (if
applicable)) through such date of replacement and a release from its obligations under the Loan Documents, (2) the processing fee required to be paid by Subsection 9.1B(i) shall have been paid to the Administrative Agent by the
Borrower or the assignee, (3) all of the requirements for such assignment contained in Subsection 9.1B, including, without limitation, the consent of the Administrative Agent (if required) and the receipt by the Administrative Agent of
an executed Assignment Agreement and other supporting documents, have been fulfilled and (4) in the event such Subject Lender is a Non-Consenting Lender, each assignee shall consent, at the time of such assignment, to each matter in respect of
which such Subject Lender was a Non-Consenting Lender. 
 2.10 Increase in Commitments. 

A. Request for Increase. Provided there exists no Potential Event of Default or Event of Default, upon notice to the Administrative
Agent (which shall promptly notify the Lenders), the Borrower may from time to time request an increase in the Revolving Loan Commitment Amount by an amount (for all such requests) not exceeding $100,000,000; provided that (i) the Revolving
Loan Commitment Amount, after giving effect to each increase hereunder, may not exceed $500,000,000 in the aggregate, (ii) any such request for an increase shall be in a minimum amount of $25,000,000 and in multiples of $5,000,000 in excess
thereof and (iii) the Borrower may not request more than two increases. At the time of sending such notice, the Borrower (in consultation with the Administrative Agent) shall specify the time period within which each Lender is requested to
respond (which shall in no event be less than ten (10) Business Days from the date of delivery of such notice to the Lenders). 
 B.
Lender Elections to Increase. Each Lender shall notify the Administrative Agent within such time period whether or not it agrees to increase its Revolving Loan Commitment and, if so, whether by an amount equal to, greater than, or less than its
Pro Rata Share of such requested increase. Any Lender not responding within such time period shall be deemed to have declined to increase its Revolving Loan Commitment. 

C. Notification by the Administrative Agent; Additional Lenders. The Administrative Agent shall notify the Borrower and each Lender of
the Lenders’ responses to each request made hereunder. If the Lenders do not agree to the full amount of a requested increase, subject to the approval of the Administrative Agent (which approval shall not be unreasonably withheld), the Borrower
may also invite additional Eligible Assignees to become Lenders pursuant to a joinder agreement in form and substance reasonably satisfactory to the Administrative Agent and its counsel. 

  
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 D. Increase Effective Date and Allocations. If the Revolving Loan Commitment Amount is
increased in accordance with this Section, the Administrative Agent and the Borrower shall determine the effective date (the “Increase Effective Date”) and the final allocation of such increase. The Administrative Agent shall promptly
notify the Borrower and the Lenders of the final allocation of such increase, the Increase Effective Date and revised Pro Rata Shares. 

E. Conditions to Effectiveness of Increase. As a condition precedent to such increase, the Borrower shall deliver to the Administrative
Agent an Officer’s Certificate dated as of the Increase Effective Date (i) certifying and attaching the resolutions adopted by the Borrower approving or consenting to such increase, and (ii) certifying that, before and after giving
effect to such increase, (A) the representations and warranties contained in Section 4 and the other Loan Documents are true and correct in all material respects on and as of the Increase Effective Date, except to the extent that
such representations and warranties specifically refer to an earlier date, in which case they are true and correct in all material respects as of such earlier date, and (B) no Potential Event of Default or Event of Default exists or shall
result from such increase to the Revolving Loan Commitment Amount. The Lenders (new or existing) shall accept an assignment from the existing Lenders, and the existing Lenders shall make an assignment to the new or existing Lender accepting a new or
increased Commitment, of a direct or participation interest in each then outstanding Loan such that, after giving effect thereto, all Revolving Loan Exposure hereunder is held ratably by the Lenders in proportion to their respective Commitments.
Assignments pursuant to the preceding sentence shall be made in exchange for the principal amount assigned plus accrued and unpaid interest and commitment and letter of credit fees. The Borrower shall make any payments under Subsection 2.6D
resulting from such assignments. 
 F. Conflicting Provisions. This Section shall supersede any provisions in Subsection 9.5
or 9.6 to the contrary. 
 2.11 Defaulting Lenders. 

Notwithstanding anything to the contrary contained in this Agreement, if any Lender becomes a Defaulting Lender, then, until such time as such
Lender is no longer a Defaulting Lender, to the extent permitted by Applicable Law: 
 A. Waivers and Amendments. Such Defaulting
Lender’s right to approve or disapprove any amendment, waiver or consent with respect to this Agreement shall be restricted as set forth in Subsection 9.6. 

B. Reallocation of Payments. Any payment of principal, interest, fees or other amounts received by the Administrative Agent for
the account of such Defaulting Lender (whether voluntary or mandatory, at maturity, or otherwise, and including any amounts made available to the Administrative Agent for the account of such Defaulting Lender pursuant to Subsection 9.4),
shall be applied at such time or times as may be determined by the Administrative Agent as follows: first, to the payment of any amounts owing by such Defaulting Lender to the Administrative Agent hereunder; second, to the payment on a
pro rata basis of any amounts owing by such Defaulting Lender to the Swing Line Lender hereunder; third, if so 

  
 51 

 
determined by the Administrative Agent or requested by the Swing Line Lender, to be held as cash collateral for future funding obligations of such Defaulting Lender of any participation in any
Swing Line Loans; fourth, as the Borrower may request (so long as no Default or Event of Default exists), 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 Administrative Agent; fifth, if so determined by the Administrative Agent and the Borrower, to be held in a non-interest bearing deposit account and released in order to satisfy obligations of such Defaulting
Lender to fund Loans under this Agreement; sixth, to the payment of any amounts owing to the Administrative Agent, the Lenders, or the Swing Line Lender as a result of any judgment of a court of competent jurisdiction obtained by the
Administrative Agent, any Lender, or the Swing Line Lender against such Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations under this Agreement; seventh, so long as no Default or Event of Default exists,
to the payment of any amounts owing to the Borrower as a result of any judgment of a court of competent jurisdiction obtained by the Borrower against such Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations under
this Agreement; and eighth, to such Defaulting Lender or as otherwise directed by a court of competent jurisdiction; provided that if (i) such payment is a payment of the principal amount of any Revolving Credit Loans or funded
participations in Swing Line Loans in respect of which such Defaulting Lender has not fully funded its appropriate share and (ii) such Revolving Credit Loans or funded participations in Swing Line Loans were made at a time when the conditions
set forth in Subsection 3.2 were satisfied or waived, such payment shall be applied solely to pay the Revolving Credit Loans of, and funded participations in Swing Line Loans owed to, all non-Defaulting Lenders on a pro rata basis prior
to being applied to the payment of any Revolving Credit Loans of, or funded participations in Swing Line Loans owed to, such Defaulting Lender. Any payments, prepayments or other amounts paid or payable to a Defaulting Lender that are applied (or
held) to pay amounts owed by a Defaulting Lender or to post cash collateral pursuant to this Subsection 2.11B shall be deemed paid to and redirected by such Defaulting Lender, and each Lender irrevocably consents hereto. 

C. Reallocation of Applicable Percentages to Reduce Fronting Exposure. During any period in which there is a Defaulting Lender,
for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Swing Line Loans pursuant to Subsection 2.1A, the “Pro Rata Share” of each non-Defaulting
Lender shall be computed without giving effect to the Revolving Loan Commitment of such Defaulting Lender; provided that (i) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting
Lender, no Default or Event of Default exists and (ii) the aggregate obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Swing Line Loans shall not exceed the positive difference, if any, of (A) the
Revolving Loan Commitment of that non-Defaulting Lender minus (B) the aggregate outstanding principal amount of the Revolving Loans of that Lender. 

D. Prepayment of Swing Line Loans. Promptly on demand by the Swing Line Lender or the Administrative Agent from time to time,
the Borrower shall prepay Swing Line Loans in the amount of all Fronting Exposure with respect to the Swing Line Lender (after giving effect to Subsection 2.11C). 

  
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 E. Certain Fees. For any period during which such Lender is a Defaulting Lender, such
Defaulting Lender shall not be entitled to receive any commitment fee pursuant to Subsection 2.3A (and the Borrower shall not be required to pay any such fee that otherwise would have been required to have been paid to such Defaulting
Lender). 
 F. Defaulting Lender Cure. If the Borrower, the Administrative Agent, and the Swing Line Lender agree in writing
in their sole discretion that a Defaulting Lender should no longer be deemed to be a Defaulting Lender, the Administrative Agent will so notify the parties hereto, whereupon as of the date specified in such notice and subject to any conditions set
forth therein (which may include arrangements with respect to any cash collateral), that Lender will, to the extent applicable, purchase that portion of outstanding Revolving Credit Loans of the other Lenders or take such other actions as the
Administrative Agent may determine to be necessary to cause the Revolving Credit Loans and funded and unfunded participations in Swing Line Loans to be held on a pro rata basis by the Lenders in accordance with their Pro Rata Shares (without giving
effect to Subsection 2.11C), whereupon such Lender will cease to be a Defaulting Lender; 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 Defaulting Lender; and provided, further, that except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Lender to 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. CONDITIONS TO LOANS 

The obligations of the Lenders to make Loans hereunder are subject to the satisfaction of the following conditions. 

3.1 Conditions to Closing. 

This Agreement shall become effective upon satisfaction of the following conditions, upon which the Closing Date shall occur: 

A. Loan Documents. The Borrower shall deliver to the Lenders (or to the Administrative Agent with sufficient originally executed
copies, where appropriate, for each Lender) the following, each, unless otherwise noted, dated the date hereof: 
 (i) Copies
of the Organizational Documents of the Borrower, certified by the Secretary of State of the Borrower’s jurisdiction of organization or, if such document is of a type that may not be so certified, certified by an Officer of the Borrower,
together with a good standing certificate from the appropriate governmental officer of its jurisdiction of organization dated as of a recent date prior to the date hereof; 

(ii) Resolutions of the Governing Body of the Borrower approving and authorizing the execution, delivery and performance of the
Loan Documents to which it is a party, certified as of the date hereof by an Officer of the Borrower as being in full force and effect without modification or amendment; 

  
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 (iii) Signature and incumbency certificates of the Officers of the Borrower
executing a Loan Document; 
 (iv) Executed originals of the Loan Documents; and 

(v) Such other opinions, documents or materials as Administrative Agent or any Lender may reasonably request on or prior to the
Closing Date. 
 B. Fees. The Borrower shall have paid all accrued and unpaid fees and expenses contemplated to be paid by the
Borrower on or before the Closing Date in connection with the transactions contemplated hereby. 
 C. Officer’s
Certificate. The Borrower shall have delivered to the Administrative Agent an Officer’s Certificate, in form and substance reasonably satisfactory to the Administrative Agent, (i) to the effect that the representations and
warranties in Section 4 are true and correct in all material respects on and as of the date hereof to the same extent as though made on and as of that date (or, to the extent such representations and warranties specifically relate to an
earlier date, that such representations and warranties were true and correct in all material respects on and as of such earlier date); provided that, if a representation and warranty is qualified as to materiality, the materiality qualifier
set forth above shall be disregarded with respect to such representation and warranty for purposes of this condition, (ii) to the effect that, after giving effect to the transactions contemplated by this Agreement on the Closing Date, no
Event of Default or Potential Event of Default has occurred and is continuing and (iii) to the effect that the Borrower has satisfied the conditions set forth in this Subsection 3.1 and 3.2, as applicable. 

D. Financial Statements. The Lenders (or the Administrative Agent with sufficient copies for each Lender) shall have received
from the Borrower audited consolidated financial statements for the Borrower and its Subsidiaries for the Fiscal Year ended December 31, 2012, which shall be in form and substance reasonably satisfactory to the Administrative Agent and the
Lenders. 
 E. Opinions of Counsel. The Lenders (or the Administrative Agent with sufficient copies for each Lender) shall
have received executed copies of the opinion of the Deputy General Counsel of the Borrower and of Duane Morris LLP, special counsel for the Borrower, each dated as of the Closing Date and in form and substance reasonably satisfactory to the
Administrative Agent. 
 F. Necessary Governmental Authorizations and Consents; Expiration of Waiting Periods, Etc. The
Borrower shall have obtained (a) all Governmental Authorizations and all consents of other Persons required to be obtained by the Borrower, in each case that are necessary or advisable in connection with the transactions contemplated by the
Loan Documents and (b) all Governmental Authorizations and consents necessary for the continued operation of the business conducted by the Borrower and its Subsidiaries in substantially the same manner as conducted prior to the date hereof,
except where the failure to obtain such Governmental Authorizations described in the foregoing clause (b) would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. Each such Governmental

  
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Authorization and consent shall be in full force and effect, except in a case where the failure to obtain or maintain a Governmental Authorization or consent, either individually or in the
aggregate, would not reasonably be expected to result in a Material Adverse Effect. All applicable waiting periods shall have expired without any action being taken or threatened by any competent authority that would restrain, prevent or otherwise
impose adverse conditions on the transactions contemplated by the Loan Documents or the financing thereof. No action, request for stay, petition for review or rehearing, reconsideration or appeal with respect to any of the foregoing shall be
pending, except in each case not specifically relating to the transactions contemplated by the Loan Documents where such action, request for stay, petition for review or rehearing, reconsideration or appeal, either individually or in the aggregate,
would not reasonably be expected to result in a Material Adverse Effect. 
 G. Patriot Act. The Borrower shall have provided
to the Administrative Agent the documentation and other information reasonably requested by the Administrative Agent or a Lender in order to comply with the requirements of the Patriot Act and applicable “know your customer” and anti-money
laundering rules and regulations. 
 3.2 Conditions to Closing; All Loans. 

The obligations of the Lenders to make any Revolving Loans and of the Swing Line Lender to make Swing Line Loans (except, in respect of
paragraph A below, Swing Line Loans made pursuant to Subsection 2.1A(ii)(e)) on any Funding Date are, in addition to the conditions precedent specified in Subsection 3.1, subject to prior or concurrent satisfaction of the following
conditions (and each borrowing by the Borrower hereunder shall constitute a representation by the Borrower as of the date of such extension of credit that the conditions contained in this Subsection 3.2 have been satisfied as of the date of
the applicable extension of credit): 
 A. Notice of Borrowing. The Administrative Agent shall have received on or before that
Funding Date, in accordance with the provisions of Subsection 2.1B, a duly executed Notice of Borrowing, in each case signed by a duly authorized Officer of the Borrower. 

B. Representations and Warranties True; No Default; Etc. As of that Funding Date: 

(i) the representations and warranties contained herein (other than in Subsection 4.4) and in the other Loan Documents
shall be true and correct in all material respects on and as of that Funding Date to the same extent as though made on and as of that date, except to the extent such representations and warranties specifically relate to an earlier date, in which
case such representations and warranties shall have been true and correct in all material respects on and as of such earlier date; provided, that, if a representation and warranty is qualified as to materiality, the materiality qualifier set
forth above shall be disregarded with respect to such representation and warranty for purposes of this condition; 

  
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 (ii) no event shall have occurred and be continuing or would result from the
consummation of the borrowing contemplated by such Notice of Borrowing that would constitute an Event of Default or a Potential Event of Default; and 

(iii) no order, judgment or decree of any arbitrator or Government Authority shall purport to enjoin or restrain any applicable
Lender from making the Loans to be made by it on that Funding Date, provided that such order, judgment or decree shall not impair the obligation of any other Lender to fund a Revolving Loan as of such Funding Date. 

SECTION 4. REPRESENTATIONS AND WARRANTIES 

In order to induce the Administrative Agent and the Lenders to enter into this Agreement, to induce the Lenders to make the Loans hereunder,
the Borrower hereby represents and warrants to each Lender, both immediately before and immediately after giving effect to the transactions contemplated hereunder, which representations and warranties shall be deemed to be made on the Closing Date
and on such other dates as set forth in Subsection 3.2, that: 
 4.1 Organization, Powers, Qualification, Good Standing,
Business and Subsidiaries. 
 A. Organization and Powers. The Borrower is duly organized, validly existing and in good
standing under the laws of the State of Missouri. The Borrower has the organizational power and authority to own and operate its properties, to carry on its business as now conducted, to enter into the Loan Documents to which it is a party and to
carry out the transactions contemplated thereby. 
 B. Qualification and Good Standing. The Borrower is qualified to do
business and is in good standing in every jurisdiction where its assets are located and wherever necessary to carry out its business and operations, except in jurisdictions where the failure to be so qualified or in good standing would not
reasonably be expected to result in a Material Adverse Effect. 
 C. Conduct of Business. The Borrower is engaged only in the
businesses permitted to be engaged in pursuant to Subsection 6.10. 
 D. Subsidiaries. All of the Subsidiaries of the
Borrower as of the Closing Date and their jurisdictions of organization as of the Closing Date are listed in Schedule 4.1. The Capital Stock of each of the Subsidiaries of the Borrower is duly authorized, validly issued, fully paid and
(except for any interest as a general partner, limited partner or subordinated limited partner) nonassessable and none of such Capital Stock constitutes Margin Stock. Each of the Subsidiaries of the Borrower is a corporation, partnership, trust or
limited liability company duly organized, validly existing and in good standing under the laws of its respective jurisdiction of organization, has all requisite organizational power and authority to own and operate its properties and to carry on its
business as now conducted, and is qualified to do business and in good standing in every jurisdiction where its assets are located and wherever necessary to carry out its business and operations, in each case except where failure to be so qualified
or in good standing or a lack of such power and authority would not reasonably be expected to result in a Material Adverse Effect. 

  
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 4.2 Authorization of Borrowing, etc. 

A. Authorization of Borrowing. The execution, delivery and performance of the Loan Documents by the Borrower have been duly
authorized by all necessary organizational action. 
 B. No Conflict. The execution, delivery and performance by the Borrower of the
Loan Documents to which it is a party and the consummation of the transactions contemplated by the Loan Documents do not and will not (i) violate any provision of any law or any governmental rule or regulation applicable to the Borrower, the
Organizational Documents of the Borrower or any order, judgment or decree of any court or other Government Authority binding on the Borrower, (ii) conflict with, result in a breach of or constitute (with due notice or lapse of time or both) a
default under any Contractual Obligation of the Borrower which would reasonably be expected to result in a Material Adverse Effect, (iii) result in or require the creation or imposition of any Lien upon any of the properties or assets of the
Borrower not permitted under Subsection 6.2, or (iv) require any approval of stockholders or any approval or consent of any Person under any Contractual Obligation of the Borrower, except for such approvals or consents which have
been obtained on or before the Closing Date and disclosed in writing to the Lenders as to material Contractual Obligations and except to the extent such failure to obtain such approval or consent would not reasonably be expected to result in a
Material Adverse Effect. 
 C. Governmental Consents. The execution, delivery and performance by the Borrower of the Loan
Documents to which it is a party and the consummation of the transactions contemplated by the Loan Documents do not and will not require any Governmental Authorization except for any Governmental Authorization required in connection with the conduct
of business of the Borrower in the ordinary course. 
 D. Binding Obligation. Each of the Loan Documents required to be
executed by the Borrower has been duly executed and delivered by the Borrower and is the legally valid and binding obligation of the Borrower, enforceable against the Borrower in accordance with its respective terms, except as may be limited by
bankruptcy, insolvency, reorganization, fraudulent transfer, moratorium or similar laws relating to or limiting creditors’ rights generally or by equitable principles. 

4.3 Financial Condition. 

The Borrower has heretofore delivered or made available to the Lenders, at the Lenders’ request, the audited consolidated balance sheets,
statements of income and cash flows of the Borrower and its Subsidiaries as at and for the Fiscal Year ended December 31, 2012. All such statements were prepared in conformity with GAAP and fairly present, in all material respects, the
financial position (on a consolidated basis) of the entities described in such financial statements as at the respective dates thereof and the results of operations and cash flows (on a consolidated basis) of the entities described therein for each
of the periods then ended. Neither 

  
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the Borrower nor any of its Subsidiaries has any Contingent Obligation, contingent liability or liability for taxes, long-term lease or unusual forward or long-term commitment not incurred in the
ordinary course of business that (a) as of the Closing Date, is not reflected in the Borrower’s audited consolidated balance sheets, statements of income and cash flows of the Borrower and its Subsidiaries as at and for the Fiscal Year
ended December 31, 2012 or the notes thereto, or described in Schedule 6.1, that, individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect or (b) as of any Funding Date subsequent to the
Closing Date, is not reflected in the most recent audited financial statements delivered to the Lenders pursuant to Subsection 5.1 or the notes thereto or permitted pursuant to Subsection 6.1 and that, individually or in the aggregate,
could reasonably be expected to have a Material Adverse Effect. 
 4.4 No Material Adverse Change. 

Since December 31, 2012, no event or change has occurred that has resulted in or evidences, either in any case or in the aggregate, a
Material Adverse Effect. 
 4.5 Title to Properties; Intellectual Property. 

A. The Borrower and its Subsidiaries have good title or a valid leasehold interest in and to all of their respective properties and
assets reflected as owned or leased in the financial statements referred to in Subsection 4.3 or in the most recent financial statements delivered pursuant to Subsection 5.1, in each case except for assets disposed of since the date of
such financial statements in the ordinary course of business or as otherwise permitted under Subsection 6.7 and except for defects and irregularities that would not reasonably be expected to result in a Material Adverse Effect. 

B. The Borrower and its Subsidiaries own or have the right to use, all Intellectual Property used in the conduct of their business,
except where the failure to own or have such right to use in the aggregate would not reasonably be expected to result in a Material Adverse Effect. No claim has been asserted and is pending by any Person challenging or questioning the use of any
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 would not reasonably be expected to result in 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, would not reasonably be expected to
result in a Material Adverse Effect. 
 4.6 Litigation; Adverse Facts. 

Except as set forth on Schedule 4.6, there are no Proceedings (whether or not purportedly on behalf of the Borrower or any of its
Subsidiaries) at law or in equity, or before or by any court or other Government Authority (including any Environmental Claims) that are pending or, to the knowledge of the Borrower, threatened against or affecting the Borrower or any of its
Subsidiaries or any property or assets of the Borrower or any of its Subsidiaries and that, individually or in the aggregate, would reasonably be expected to result in a Material Adverse Effect. Neither the Borrower nor any of its Subsidiaries
(i) is in violation of any applicable laws (including Environmental Laws) that, individually or in the aggregate, would 

  
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reasonably be expected to result in a Material Adverse Effect, or (ii) is subject to or in default with respect to any final judgments, writs, injunctions, decrees, rules or regulations of
any court or other Government Authority that, individually or in the aggregate, would reasonably be expected to result in a Material Adverse Effect. 

4.7 Payment of Taxes. 

All federal and all other material tax returns and reports of the Borrower and its Subsidiaries required to be filed by any of them have been
timely filed, and all taxes shown on such tax returns to be due and payable and all material assessments, fees and other governmental charges upon the Borrower and its Subsidiaries and upon their respective properties, assets, income, businesses and
franchises that are due and payable have been paid when due and payable, except to the extent that the failure to do so would not reasonably be expected to have a Material Adverse Effect and excluding any such tax, assessment, charge or claim being
contested in good faith by appropriate proceedings, so long as (i) such reserve or other appropriate provision, if any, as shall be required in conformity with GAAP shall have been made therefor and (ii) in the case of a tax, assessment,
charge or claim which has or may become a Lien against any of the properties or assets of the Borrower or its Subsidiaries, the Lien is not being enforced by foreclosure or sale of any portion of such properties or assets to satisfy such charge or
claim or is otherwise permitted by this Agreement. 
 4.8 Governmental Regulation; Licenses. 

Neither the Borrower nor any of its Subsidiaries is subject to regulation under the Investment Company Act of 1940 or under any other federal
or state statute or regulation which would reasonably be expected to limit its ability to incur the Obligations or which may otherwise render all or any portion of the Obligations unenforceable. Each of the Borrower and each of its Subsidiaries
possesses all licenses, registrations and authorizations from and with any Government Authority, Self-Regulatory Organization or securities exchange, necessary or material to the conduct of its business as now or presently proposed to be conducted.
Edward Jones is (a) duly registered with the Commission as a broker-dealer under the Exchange Act, (b) a member in good standing of the FINRA, (c) not in arrears in regard to any assessment made upon it by the SIPC and (d) has
received no notice from the Commission, FINRA, FDIC, MSRB, FDIC or any other Government Authority, Self-Regulatory Organization or securities exchange of any alleged rule violation or other circumstance which could reasonably be expected to have a
Material Adverse Effect. 
 4.9 Securities Activities. 

A. The Borrower is not engaged principally, or as one of its important activities, in the business of extending credit for the purpose
of purchasing or carrying any Margin Stock. 
 B. Neither the making of any Loan hereunder or the use of the proceeds thereof will
violate or be inconsistent with the provisions of Regulation T, Regulation U or Regulation X. 

  
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 C. Following the application of the proceeds of any Loan, less than 25% of the value of
the assets of the Borrower and its Subsidiaries which are subject to any limitation on sale, pledge or other restriction hereunder taken as a whole have been, and will continue to be, represented by Margin Stock. 

4.10 Employee Benefit Plans. 

A. The Borrower, each of its Subsidiaries and each of their respective ERISA Affiliates are in material compliance with all applicable
provisions and requirements of ERISA and the regulations and published interpretations thereunder with respect to each Employee Benefit Plan, and have performed all their obligations under each Employee Benefit Plan. To the knowledge of the Borrower
and each of its Subsidiaries, each Employee Benefit Plan that is intended to qualify under Section 401(a) of the Internal Revenue Code is so qualified. 

B. No ERISA Event has occurred and is continuing or is reasonably expected to occur. 

C. No Employee Benefit Plan provides health or welfare benefits (through the purchase of insurance or otherwise) for any retired or
former employee of the Borrower, any of its Subsidiaries or any of their respective ERISA Affiliates except (i) to the extent required under Section 4980B of the Internal Revenue Code, or (ii) otherwise, the payment or nonpayment of
which would not reasonably be expected to result in a Material Adverse Effect. 
 D. None of the Borrower, any of its Subsidiaries or
any of their respective ERISA Affiliates sponsor or contribute to, or have ever sponsored or contributed to, any Pension Plan or Multiemployer Plan, other than defined contribution plans of Affiliates of the Borrower (other than its Subsidiaries)
where the applicable defined contributions, if not made, would not reasonably be expected to result in a Material Adverse Effect. 
 4.11
Environmental Protection. 
 Neither the Borrower nor any of its Subsidiaries has received any notice to the effect that its
operations are not in compliance with any of the requirements of applicable Environmental Laws or are the subject of any federal or state investigation evaluating whether any remedial action is needed to respond to a release of any Hazardous
Materials into the environment, which non-compliance or remedial action, individually or in the aggregate, would reasonably be expected to have a Material Adverse Effect. The Borrower’s and each of its Subsidiaries’ use and operation of
its facilities and properties is in compliance with all Environmental Laws except for such non-compliance which, individually or in the aggregate, would not reasonably be expected to result in a Material Adverse Effect. All necessary permits,
approvals, certificates, licenses and other authorizations relating to environmental matters of the Borrower and its Subsidiaries are in effect and the Borrower and its subsidiaries are in compliance therewith, except where the failure to keep or
comply with such permits, approvals, certificates, licenses or other authorizations would not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect. The Borrower and its Subsidiaries handle all Hazardous
Materials in compliance with all applicable Environmental Laws, except for any non-compliance that would not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect. 

  
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 4.12 Solvency. 

After giving effect to the transactions contemplated hereby and the incurrence of any Obligations hereunder from time to time, the Borrower is
Solvent. 
 4.13 Disclosure. 

No representation or warranty of the Borrower or any of its Subsidiaries contained in the Confidential Information Memorandum dated October,
2013, or in any Loan Document or in any other document, certificate or written statement furnished to the Lenders by or on behalf of the Borrower or any of its Subsidiaries for use in connection with the transactions contemplated by this Agreement,
nor any of the reports, financial statements, certificates and other information required to be furnished pursuant to Subsection 5.1 after the Closing Date (other than financial statements of any Target delivered to the Administrative Agent),
as of the date furnished contains any untrue statement of a material fact or omits to state a material fact (known to the Borrower, in the case of any information not furnished by it) necessary in order to make the statements contained herein or
therein not misleading in light of the circumstances in which the same were made. Any projections and pro forma financial information contained in such materials were based upon good faith estimates and assumptions believed by the Borrower to be
reasonable at the time made, it being recognized by the Administrative Agent and the Lenders that such projections as to future events are not to be viewed as facts and that actual results during the period or periods covered by any such projections
may differ from the projected results and that such differences may be material. There are no facts known (or which should upon the reasonable exercise of diligence be known) to the Borrower that, individually or in the aggregate, could reasonably
be expected to result in a Material Adverse Effect and that have not been disclosed herein or in such other documents, certificates and statements furnished to the Lenders for use in connection with the transactions contemplated hereby. 

4.14 Foreign Assets Control Regulations, etc. 

Neither the making of the Loans to the Borrower nor its use of the proceeds thereof will (i) violate the Trading with the Enemy Act, as
amended, or any of the foreign assets control regulations of the United States Department of State or the United States Treasury Department (31 CFR, Subtitle B, Chapter V, as amended) or any enabling legislation or executive order relating thereto,
or (ii) be unlawfully used directly or indirectly to fund any operations in, finance any investments or activities in or make any payments to, a Sanctioned Person or a Sanctioned Country. Without limiting the foregoing, neither the Borrower nor
any of its Subsidiaries or Affiliates, nor any officer or director thereof, (a) is an “enemy” or an “ally of the enemy” within the meaning of Section 2 of the Trading with the Enemy Act of the United States (50 U.S.C.
App. §§ 1 et seq.), (b) is a Sanctioned Person, or (c) (x) is or will become a Person whose property or interests in property are blocked pursuant to Section 1 of Executive Order 13224 of September 23, 2001
Blocking Property and Prohibiting Transactions With Persons Who Commit, Threaten to Commit, or Support Terrorism (66 Fed. Reg. 49079 (2001)), or (y) engages or will engage in any dealings or transactions, or be otherwise associated, with

  
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any such Person. The Borrower and its Subsidiaries and Affiliates are in compliance, in all material respects, with all Anti-Corruption Laws, the Patriot Act, the Trading with the Enemy Act, and
any of the foreign assets control regulations of the United States Treasury Department (31 CFR, Subtitle B, Chapter V) and any enabling legislation or executive order relating thereto. 

SECTION 5. AFFIRMATIVE COVENANTS 
 The
Borrower covenants and agrees that, so long as any of the Commitments hereunder shall remain in effect and until payment in full of all of the Loans and other Obligations (other than Unasserted Obligations), unless the Requisite Lenders shall
otherwise give consent, the Borrower shall perform, and shall cause each of its Subsidiaries to perform, all covenants in this Section 5. 

5.1 Financial Statements and Other Reports. 

The Borrower will maintain, and cause each of its Subsidiaries to maintain, a system of accounting established and administered in accordance
with sound business practices to permit preparation of consolidated financial statements of the Borrower and its Subsidiaries in conformity with GAAP. The Borrower will deliver, or cause to be delivered or, in the case of Subsections 5.1(ii),
(iii) and (vi) below, will make available in the manner described in clause (xiv) below, to the Administrative Agent for the benefit of the Lenders: 

(i) Events of Default, etc.: promptly upon any Officer of the Borrower obtaining knowledge (A) of any condition or
event that constitutes an Event of Default or a Potential Event of Default, (B) that any Person has given any notice to the Borrower or any of its Subsidiaries or taken any other action with respect to a claimed default or event or condition of
the type referred to in Subsection 7.2 or (C) of the occurrence of any event or change that has caused or evidences, either in any case or in the aggregate, a Material Adverse Effect, an Officer’s Certificate specifying the nature
and period of existence of such condition, event or change, or specifying the notice given or action taken by any such Person and the nature of such claimed Event of Default, Potential Event of Default, default, event or condition and what action
the Borrower has taken, is taking and proposes to take with respect thereto; 
 (ii) Quarterly Financials: (a) as
soon as available and in any event within 50 days after the end of each of the first three Fiscal Quarters of each Fiscal Year, the consolidated balance sheets of the Borrower and its Subsidiaries as at the end of such Fiscal Quarter and the related
consolidated statements of operations and cash flows (including all required footnotes thereto) of the Borrower and its Subsidiaries for such Fiscal Quarter and for the period from the beginning of the then current Fiscal Year to the end of such
Fiscal Quarter, setting forth in each case in comparative form the corresponding figures for the corresponding periods of the previous Fiscal Year, all in reasonable detail and prepared by the Borrower in accordance with GAAP and certified by the
chief financial officer of the Borrower that they fairly present, in all material respects, the financial condition of the Borrower and its Subsidiaries as at the dates indicated and the results of their operations and their cash flows for the
periods indicated, subject to changes resulting from audit and normal year-end adjustments and the absence 

  
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of footnote disclosure, and (b) with respect to the first three Fiscal Quarters of each Fiscal Year, the management’s discussion and analysis incorporated into the Borrower’s Form
10-Q delivered for such Fiscal Quarter or, if no such discussion and analysis has been delivered, a narrative report describing the operations of the Borrower and its Subsidiaries in the form prepared for presentation to senior management for such
Fiscal Quarter and for the period from the beginning of the then current Fiscal Year to the end of such Fiscal Quarter; it being understood and agreed that the delivery or availability of the Borrower’s Form 10-Q, if required, promptly
following the filing thereof with the Commission shall satisfy the delivery requirements set forth in this clause (subject to the time periods set forth in this clause (ii)); 

(iii) Year-End Financials: as soon as available and in any event within 95 days after the end of each Fiscal Year,
(a) the consolidated balance sheet of the Borrower and its Subsidiaries as at the end of such Fiscal Year and the related consolidated statements of operations and cash flows (including all required footnotes thereto) of the Borrower and its
Subsidiaries for such Fiscal Year, setting forth in each case in comparative form the corresponding figures for the previous Fiscal Year, all in reasonable detail and prepared by the Borrower in accordance with GAAP and certified by the chief
financial officer of the Borrower that they fairly present, in all material respects, the consolidated financial condition of the Borrower and its Subsidiaries as at the dates indicated and the consolidated results of their operations and their cash
flows for the periods indicated, (b) the management’s discussion and analysis incorporated in the Borrower’s Form 10-K delivered for such Fiscal Year or, if no such 10-K has been delivered, a narrative report describing the operations
of the Borrower and its Subsidiaries in the form prepared for presentation to senior management for such Fiscal Year, and (c) in the case of all such consolidated financial statements, a report and opinion thereon of PricewaterhouseCoopers LLP
or any other independent certified public accountants of recognized national standing selected by the Borrower, and reasonably satisfactory to the Administrative Agent, which report and opinion shall be prepared in accordance with audit standards of
the Public Company Accounting Oversight Board and applicable Securities Laws unqualified as to the scope of the audit or the ability of the Borrower and its Subsidiaries to continue as a going concern, and shall state that such consolidated
financial statements fairly present, in all material respects, the consolidated financial position of the Borrower and its Subsidiaries as at the dates indicated and the consolidated results of their operations and their cash flows for the periods
indicated in conformity with GAAP applied on a basis consistent with prior years (except as otherwise disclosed in such financial statements) and that the examination by such accountants in connection with such consolidated financial statements has
been made in accordance with, if applicable, the audit standards of the Public Company Accounting Oversight Board and otherwise in accordance with generally accepted auditing standards; and it being understood and agreed that the delivery or
availability of the Borrower’s Form 10-K, if required, promptly after the filing thereof with the Commission shall satisfy the requirements set forth in this clause (subject to the time periods set forth in this clause (iii)); 

(iv) Compliance Certificates: together with each delivery of financial statements pursuant to subdivisions (ii) and
(iii) above, (a) an Officer’s Certificate of the 

  
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Borrower stating that the signer or signers (in each case in such Person’s capacity as an Officer and not in any individual capacity) have reviewed the terms of this Agreement and have made,
or caused to be made under their supervision, a review in reasonable detail of the transactions and condition of the Borrower and its Subsidiaries during the accounting period covered by such financial statements and that such review has not
disclosed the existence during or at the end of such accounting period, and that the signers (in each case in such Person’s capacity as an Officer and not in any individual capacity) do not have knowledge of the existence as at the date of such
Officer’s Certificate, of any condition or event that constitutes an Event of Default or Potential Event of Default, or, if any such condition or event existed or exists, specifying the nature and period of existence thereof and what action the
Borrower has taken, is taking and proposes to take with respect thereto and (b) a Compliance Certificate demonstrating in reasonable detail compliance at the end of the applicable accounting periods with the restrictions contained in
Subsection 6.6. 
 (v) Accountants’ Reports: promptly upon receipt thereof (unless restricted by
applicable professional standards), copies of all reports submitted to the Borrower by independent certified public accountants in connection with each annual, interim or special audit of the financial statements of the Borrower and its Subsidiaries
made by such accountants; 
 (vi) SEC Filings: promptly upon their becoming publicly available, copies of any reports
on Forms 10-Q, 10-K and 8-K, and, in each case, any equivalent documents, filed by the Borrower or any of its Subsidiaries with any securities exchange or with the Commission or any governmental or private regulatory authority; 

(vii) Litigation or Other Proceedings: promptly upon any Officer of the Borrower obtaining knowledge of (a) the
institution of, any Proceeding against or affecting the Borrower or any of its Subsidiaries or any property or assets of the Borrower or any of its Subsidiaries not previously disclosed in writing by the Borrower to the Lenders or (b) any
material development in any Proceeding that, in any case: 
 (x) after giving effect to the coverage and policy limits of
insurance policies issued to the Borrower and its Subsidiaries, would reasonably be expected to result in a Material Adverse Effect; or 

(y) seeks to enjoin or otherwise prevent the consummation of, or to recover any damages or obtain relief as a result of, the
making, securing or repayment of the Obligations hereunder or the application of proceeds thereof; 
 written notice thereof together with
such other information as may be reasonably available to the Borrower to enable the Lenders and their counsel to evaluate such matters; 

(viii) ERISA Events: promptly upon an Officer of the Borrower becoming aware of the occurrence of or forthcoming
occurrence of any ERISA Event, a written notice specifying the nature thereof, what action the Borrower, any of its Subsidiaries or 

  
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any of their respective ERISA Affiliates has taken, is taking or proposes to take with respect thereto and, when known, any action taken or threatened by the Internal Revenue Service, the
Department of Labor or the PBGC with respect thereto; 
 (ix) New Subsidiaries: together with each delivery of a
Compliance Certificate pursuant to subdivision (iv) above with respect to the financial statements delivered pursuant to subdivision (iii) above, an updated list (containing information comparable to that required to be set forth on
Schedule 4.1 with respect to the Subsidiaries of the Borrower as of the Closing Date) of all Subsidiaries of the Borrower; 

(x) Insurance: as soon as practicable after any material reduction in insurance coverage maintained by the Borrower and
its Subsidiaries, notice thereof to Administrative Agent specifying the changes and reasons therefor; 
 (xi) FOCUS
Reports: as soon as practicable and in any event within 25 days after the end of each Fiscal Quarter, the FOCUS Report for such Fiscal Quarter filed by Edward Jones with the Commission; 

(xii) Other Actions: as soon as possible and in any event within ten (10) days after any Officer of the Borrower
learns thereof, notice of the assertion or commencement of any claim, action, litigation, suit or proceeding against or affecting the Borrower or any Subsidiary, including any investigation or proceeding commenced by the Commission, the Board,
FINRA, MSRB, FDIC, OTS or any other Government Authority, Self-Regulatory Organization or securities exchange, which could reasonably be expected to have a Material Adverse Effect; and 

(xiii) Other Information: with reasonable promptness, such other information and data with respect to the Borrower or
any of its Subsidiaries as from time to time may be reasonably requested by the Administrative Agent. Information required to be delivered pursuant to the preceding clauses (ii), (iii) and (vi) shall be deemed to have been delivered if
such information, or one or more annual, quarterly or other reports containing such information shall have been posted on the Borrower’s website on the internet or shall be available on the website of the Securities and Exchange Commission at
http://www.sec.gov; provided that the Borrower shall deliver paper copies of such information to the Administrative Agent or any Lender that requests such delivery, and provided, further that such information shall only be deemed to have been
delivered when posted on any such website upon notification by the Borrower to the Administrative Agent and the Lenders of such posting. 

5.2 Existence, etc. 

Except as permitted under Subsection 6.7, the Borrower will, and will cause each of its Subsidiaries to, at all times (a) preserve
and keep in full force and effect its existence and all rights and franchises material to its business; provided, however that neither the Borrower nor any of its Subsidiaries shall be required to preserve any such rights or franchises
if the Governing Body of the Borrower or such Subsidiary shall determine that the preservation thereof is no longer desirable in the conduct of the business of the Borrower or such Subsidiary, as the case

  
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may be, and that the loss thereof would not reasonably be expected to result in a Material Adverse Effect and (b) maintain all registrations, licenses, consents, approvals and authorizations
from and with any Government Authority, Self-Regulatory Organization or securities exchange necessary or material to the conduct of its business. 

5.3 Payment of Taxes and Claims. 

The Borrower will, and will cause each of its Subsidiaries to, pay all material taxes, assessments and other governmental charges imposed upon
it or any of its properties or assets or in respect of any of its income, businesses or franchises before any material penalty accrues thereon, and all material claims (including claims for labor, services, materials and supplies) for sums that have
become due and payable and that by law have or may become a Lien upon any of its properties or assets, prior to the time when any material penalty or fine shall be incurred with respect thereto, provided that no such tax, assessment, charge
or claim need be paid if it is being contested in good faith by appropriate proceedings, so long as (i) such reserve or other appropriate provision, if any, as shall be required in conformity with GAAP shall have been made therefor and
(ii) in the case of a tax, assessment, charge or claim which has or may become a Lien against any of the properties or assets of the Borrower or its Subsidiaries, the Lien is not being enforced by foreclosure or sale of any portion of such
properties or assets to satisfy such charge or claim or is otherwise permitted by this Agreement. 
 5.4 Maintenance of Properties;
Insurance. 
 A. Maintenance of Properties. The Borrower will, and will cause each of its Subsidiaries to,
(a) maintain, preserve and protect all of its material properties (including material Intellectual Property) and equipment necessary in the operation of its business in good repair, working order and condition, ordinary wear and tear excepted
and (b) make all necessary repairs thereto and renewals and replacements thereof except in each case where the failure to do so would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

B. Insurance. The Borrower will maintain or cause to be maintained, with financially sound and reputable insurers (or through
self-insurance arrangements), such public liability insurance, third party property damage insurance, business interruption insurance and casualty insurance with respect to liabilities, losses or damage in respect of the assets, properties and
businesses of the Borrower and its Subsidiaries as may customarily be carried or maintained under similar circumstances by corporations of established reputation engaged in similar businesses, in each case in such amounts (giving effect to
self-insurance and retentions), with such deductibles, covering such risks and otherwise on such terms and conditions as shall be customary for corporations similarly situated in the industry. 

5.5 Inspection Rights; Books and Records. 

The Borrower shall, and shall cause each of its Subsidiaries to, permit any authorized representatives designated by the Administrative Agent
(and, during the continuance of an Event of Default, any Lender) to visit and inspect any of the properties of the Borrower or of any of its Subsidiaries, to inspect, copy and take extracts from its and their financial and

  
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accounting records, and to discuss its and their affairs, finances and accounts with its and their Officers and independent public accountants (provided that the Borrower may, if it so chooses,
be present at or participate in any such discussion), all upon reasonable notice and at such reasonable times during normal business hours without unreasonably interfering with the business of Borrower and its Subsidiaries up to one (1) time
per twelve month period (beginning on the Closing Date) so long as no Event of Default shall have occurred and be continuing or at any time or from time to time following the occurrence and during the continuation of an Event of Default. 

5.6 Compliance with Laws, etc. 

The Borrower shall comply, and shall cause each of its Subsidiaries to comply, with the requirements of all applicable laws, statutes, and
rules, regulations, orders and decrees or restrictions of any Government Authority, Self-Regulatory Organization or securities exchange having jurisdiction over the conduct of their respective businesses or the ownership of their respective
properties (including, without limitation, the Exchange Act, the Advisers Act, the Investment Company Act, the CEA, Environmental Laws, and the applicable rules and regulations of the Commission, the Board, FINRA, MSRB, FDIC and OTS), except where
the failure to so comply could not reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect. Without limiting the foregoing, the Borrower and its Subsidiaries shall comply in all material respects with all
applicable capital requirements of all Government Authorities (including, without limitation, Rule 15c3-1 and OTS capital requirements). 

5.7 Environmental Matters. 

The Borrower will, and will cause each of its Subsidiaries to: 

(a) use and operate all of its facilities and properties in compliance with all Environmental Laws except for such
non-compliance which, individually or in the aggregate, would not reasonably be expected to result in a Material Adverse Effect, keep all necessary permits, approvals, certificates, licenses and other authorizations relating to environmental matters
in effect and remain in compliance therewith, except where the failure to keep such permits, approvals, certificates, licenses or other authorizations, or any non-compliance with the provisions thereof would not reasonably be expected to result in a
Material Adverse Effect, and handle all Hazardous Materials in compliance with all applicable Environmental Laws, except for any non-compliance that would not reasonably be expected to result in a Material Adverse Effect; 

(b) promptly notify the Administrative Agent and provide copies upon receipt of all written claims, complaints and notices of
violation from any local, state or federal governmental agency relating to the condition of its facilities and properties or compliance with Environmental Laws which would reasonably be expected to result in a Material Adverse Effect, and shall
promptly cure and have dismissed with prejudice, or contest in good faith, any actions and proceedings relating to compliance with Environmental Laws the result of which, if not contested by the Borrower, would reasonably be expected to result in a
Material Adverse Effect; and 
 (c) provide such non-confidential information and certifications which the Administrative
Agent may reasonably request from time to time to evidence compliance with this Subsection 5.7. 

  
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 5.8 Foreign Assets Control Regulations, Anti-Corruption Laws. 

The Borrower will maintain in effect and enforce policies and procedures designed to ensure compliance by the Borrower, its Subsidiaries and
their respective directors, officers, employees and agents with all Anti-Corruption Laws, the Patriot Act, the Trading with the Enemy Act, and any of the foreign assets control regulations of the United States Department of State or the United
States Treasury Department (31 CFR, Subtitle B, Chapter V) and any enabling legislation or executive order relating thereto. 
 SECTION 6. NEGATIVE
COVENANTS 
 The Borrower covenants and agrees that, so long as any of the Commitments hereunder shall remain in effect and until payment
in full of all of the Loans and other Obligations (other than Unasserted Obligations), unless the Requisite Lenders shall otherwise give consent, the Borrower shall perform, and shall cause each of its Subsidiaries to perform, all covenants in this
Section 6. 
 6.1 Indebtedness. 

The Borrower shall not permit any of its Subsidiaries to, directly or indirectly, create, incur, assume or guaranty, or otherwise become or
remain directly or indirectly liable with respect to, any Indebtedness, except: 
 (i) (A) Contingent Obligations in respect
of customary indemnification and purchase price adjustment obligations incurred in connection with dispositions of properties or assets or with purchases of properties or assets and (B) Contingent Obligations in respect of (1) any
Indebtedness permitted pursuant to this Subsection 6.1 (other than clause (xii) below) or (2) any obligation of the Borrower or any of its Subsidiaries not constituting Indebtedness incurred in a transaction that is not prohibited
by this Agreement or any of the other Loan Documents; 
 (ii) Indebtedness owed by (A) any Subsidiary to the Borrower
and (B) any Subsidiary to any other Subsidiary; 
 (iii) Indebtedness described in Schedule 6.1, together with
any refinancing, refunding, renewal, modification, extension or replacement thereof; provided that (A) the principal amount of such Indebtedness is not increased at the time of such refinancing, refunding, renewal or extension except by
an amount equal to a reasonable premium or other reasonable amount paid, and fees and expenses reasonably incurred, in connection with such refinancing and by an amount equal to any existing commitments unutilized thereunder and (B) the final
maturity date and weighted average life of such refinancing, 

  
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refunding, renewal or extension shall not be prior to the Revolving Loan Commitment Termination Date unless the maturity date of the existing Indebtedness being refinanced was already prior to
the Revolving Loan Commitment Termination Date; 
 (iv) Indebtedness of any Subsidiary incurred to finance the acquisition,
construction or improvement of any fixed or capital assets in the ordinary course of business, including Capital Leases and any Indebtedness assumed in connection with the acquisition of any such assets or secured by a Lien on any such assets prior
to the acquisition thereof, and extensions, renewals and replacements of any such Indebtedness to the extent not increasing the outstanding principal amount thereof or resulting in an earlier maturity date or decreasing the weighted average life
thereof; provided that (A) such Indebtedness is incurred prior to or within 90 days after such acquisition or the completion of such construction or improvement and (B) the principal amount of Indebtedness secured by any such Lien
shall at no time exceed the original purchase price of such property at the time it was acquired; 
 (v) Indebtedness of a
Person existing at the time such Person became a Subsidiary or assets were acquired from such Person in connection with an Investment permitted pursuant to Subsection 6.3, to the extent that (A) such Indebtedness was not incurred in
connection with, or in contemplation of, such Person becoming a Subsidiary or the acquisition of such assets, respectively, and (B) the aggregate outstanding principal amount of such Indebtedness does not exceed $25,000,000 at any time
outstanding; 
 (vi) obligations in respect of Swap Contracts to the extent such agreements are entered into in the ordinary
course of business and not for speculative purposes; 
 (vii) Indebtedness arising from the honoring of a bank or other
financial institution of a check, draft or other similar instrument drawn against insufficient funds in the ordinary course of business; 

(viii) obligations of any Subsidiary of the Borrower in respect of performance bonds and completion, guarantee, surety and
similar bonds, in each case obtained in the ordinary course of business to support statutory and contractual obligations (other than Indebtedness) arising in the ordinary course of business; 

(ix) committed and uncommitted bank lines of credit with maturities of one year or less incurred by Edward Jones and used by
Edward Jones to facilitate its broker-dealer business; 
 (x) other Mortgage Indebtedness; 

(xi) Contingent Obligations of any Subsidiary of the Borrower in respect of the headquarters lease of the former UK Subsidiary
known as Edward Jones Limited; 
 (xii) Indebtedness in the form of notes co-issued by the Borrower and one or more Co-Issuer
Subsidiaries in an aggregate principal amount not to exceed $500,000,000 at any time outstanding; and 
 (xiii) Indebtedness
not otherwise permitted by this Subsection 6.1 in an aggregate principal amount not to exceed $25,000,000 at any time outstanding. 

  
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 6.2 Liens and Related Matters. 

A. Prohibition on Liens. The Borrower shall not, and shall not permit any of its Subsidiaries to, directly or indirectly,
create, incur, assume or permit to exist any Lien on or with respect to any property or asset of any kind (including any document or instrument in respect of goods or accounts) of the Borrower or any of its Subsidiaries, whether now owned or
hereafter acquired, or any income or profits therefrom, except: 
 (i) Permitted Encumbrances; 

(ii) Liens described in Schedule 6.2A; 

(iii) (a) Liens securing obligations incurred in connection with transactions governed by a Swap Contract to the extent
permitted pursuant to Subsection 6.3; 
 (b) Liens on any property or assets existing at the time such property or
asset was acquired (including Liens on the property or assets of any Person that becomes a Subsidiary of the Borrower that existed at the time such Person became a Subsidiary by acquisition, merger, consolidation or otherwise), which Liens were not
created in contemplation of such acquisition; provided that (i) such Liens shall not extend to or cover any property or assets of any character other than the property or assets being acquired and (ii) such Liens shall secure only
those obligations which such Liens secured on the date of such acquisition; 
 (c) Liens securing Indebtedness permitted
pursuant to Subsection 6.1(iv) (or Indebtedness of the same type incurred by the Borrower) (other than any Chapter 100 Transaction obligations) upon or in any real property or equipment acquired or held by the Borrower or any Subsidiary in
the ordinary course of business to secure the purchase price of such property or equipment or to secure Indebtedness incurred solely for the purpose of financing the acquisition of such property or equipment; provided that (A) such Liens
shall not extend to or cover any property or assets of any character other than the property or equipment being financed, (B) such Liens shall be created within 90 days of the acquisition of the related asset and (C) the amount of
Indebtedness secured thereby is not increased; 
 (d) Liens (i) in favor of the Borrower made by any Subsidiary of the
Borrower and (ii) in favor of a Subsidiary made by another Subsidiary; 
 (e) customary restrictions on transfers of
assets contained in agreements related to the sale by the Borrower or the Subsidiaries of such assets pending their sale, provided that such restrictions apply only to the assets to be sold and such sale is permitted hereunder; and 

  
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 (f) Liens securing Indebtedness permitted pursuant to Subsection 6.1(ix);

 (g) Liens on any real property securing Mortgage Indebtedness permitted pursuant to Subsection 6.1(x) in respect of
which (i) the recourse of the holder of such Mortgage Indebtedness (whether direct or indirect and whether contingent or otherwise) under the instrument creating the Lien or providing for the Mortgage Indebtedness secured by the Lien is limited
to such real property directly securing such Mortgage Indebtedness, any after-acquired property affixed thereto or incorporated therein and any proceeds or products thereof and (ii) such holder may not under the instrument creating the Lien or
providing for the Indebtedness secured by the Lien collect by levy of execution or otherwise against assets or property of the Borrower or any of its Subsidiaries (other than such real property directly securing such Mortgage Indebtedness) if the
Borrower or any of its Subsidiaries fails to pay such Mortgage Indebtedness when due and such holder obtains a judgment with respect thereto, except for recourse obligations that are customary in “non-recourse” real estate transactions;

 (h) Liens arising in connection with any Chapter 100 Transaction; 

(i) Liens on cash or deposits granted in favor of the Swing Line Lenders to cash collateralize any Defaulting Lender’s
participation in Swing Line Loans; and 
 (j) Liens not otherwise permitted hereunder securing obligations in an aggregate
principal amount not to exceed $15,000,000 at any time outstanding; and 
 (iv) the replacement, extension or renewal of any
Lien permitted by clauses (ii), (iii)(b) and (iii)(c) above upon or in the same property subject thereto arising out of the replacement, extension or renewal of the Indebtedness secured thereby (to the extent the amount thereof is not increased).

 B. No Further Negative Pledges. Neither the Borrower nor any of its Subsidiaries shall create or otherwise cause or suffer to
exist or become effective any agreement prohibiting the creation or assumption of any Lien upon any of its or its Subsidiaries’ properties or assets, whether now owned or hereafter acquired, other than (i) any agreement evidencing
Indebtedness secured by Liens permitted by this Agreement, as to the assets securing such Indebtedness, (ii) any agreement evidencing an asset sale, lease or license as to the assets being sold, leased or licensed, (iii) restrictions and
conditions arising under this Agreement and the other Loan Documents or the Existing Indenture and the notes issued thereunder, (iv) restrictions and conditions arising under any indenture entered into by the Borrower and any Co-Issuer
Subsidiary after the Closing Date in respect of one or more debt issuances by the Borrower and any Co-Issuer Subsidiary of up to $500,000,000 in the aggregate for all such debt issuances, (v) customary provisions in licenses, governmental
permits, leases and other contracts restricting the assignment thereof, (vi) customary provisions in joint venture agreements relating solely to the respective Joint Venture or the Securities therein, (vii) restrictions and conditions
contained in 

  
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any agreements existing at the time of (and not created in contemplation of) the acquisition of any Person or assets (including agreements governing Indebtedness permitted pursuant to clauses
(iv) and (v) of Subsection 6.1), provided that such restrictions and conditions apply only to the Person or assets so acquired, (viii) restrictions and conditions imposed by any Government Authority and
(ix) restrictions under an agreement governing Indebtedness of a Foreign Subsidiary incurred in compliance with Subsection 6.1 if such restriction applies only to assets of such Foreign Subsidiary or any Subsidiary thereof. 

C. No Restrictions on Subsidiary Distributions to the Borrower or Other Subsidiaries. The Borrower will not, and will not permit
any of its Subsidiaries to, create or otherwise cause or suffer to exist or become effective any consensual encumbrance or restriction on the ability of any such Subsidiary to (i) pay dividends or make any other distributions on any of such
Subsidiary’s Capital Stock owned by the Borrower or any other Subsidiary of the Borrower, (ii) repay or prepay any Indebtedness owed by such Subsidiary to the Borrower or any other Subsidiary of the Borrower, (iii) make loans or
advances to the Borrower or any other Subsidiary of the Borrower, or (iv) transfer any of its property or assets to the Borrower or any other Subsidiary of the Borrower, except in each case (A) as provided in this Agreement, any other Loan
Document or existing on the date hereof and identified on Schedule 6.2C, (B) as to transfers of assets, as may be provided in an agreement with respect to a sale, lease or license of such assets, (C) as required by law, rules
or regulations of any Government Authority, (D) as to customary restrictions and conditions that waive or prohibit the subrogation of claims and/or prohibit parties to such agreements from collecting intercompany obligations customarily
included in guaranty or indemnity agreements and (E) as to customary provisions in joint venture agreements relating solely to the respective Joint Venture or the Securities thereof. 

6.3 Investments; Acquisitions. 

The Borrower shall not, and shall not permit any of its Subsidiaries to, directly or indirectly, make or permit to exist any Investment in any
Person, including any Joint Venture, or acquire, by purchase or otherwise, all or substantially all of the assets comprising a division or a line of business, or Capital Stock of any Person except: 

(i) (A) Investments in cash or Cash Equivalents and (B) other Investments by Edward Jones made in the ordinary course of
business in accordance with Rule 15c3-3; 
 (ii) Investments existing on the Closing Date in any Subsidiaries of the Borrower
in existence as of the Closing Date and additional equity Investments made after the Closing Date (A) by a Subsidiary in another Subsidiary, (B) by a Subsidiary in the Borrower, (C) by the Borrower in Edward Jones or EDJ Leasing and
(D) by the Borrower in any other Subsidiaries in an amount not to exceed $35,000,000 in the aggregate for all such Subsidiaries; 

(iii) intercompany loans and advances to the extent permitted under Subsection 6.1(ii); 

(iv) other Investments existing on the Closing Date and described in Schedule 6.3; 

  
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 (v) Investments in the form of promissory notes and other non-cash consideration
received by the Borrower or any of its Subsidiaries in connection with any conveyances, sales, leases or sub-leases, assignments, transfers and dispositions permitted by Subsection 6.7; 

(vi) transactions governed by Swap Contracts entered into in the ordinary course of business but not for speculative purposes;

 (vii) Securities purchased under agreements to resell (to the extent such transactions constitute Investments); 

(viii) the Borrower and its Subsidiaries may acquire, in a single transaction or series of related transactions (A) all or
substantially all of the assets or a majority of the outstanding Securities entitled to vote in an election of members of the Governing Body of a Person incorporated or organized in the United States or (B) any division, line of business or
other business unit of a Person that is incorporated or organized in the United States (such Person or such division, line of business or other business unit of such Person being referred to herein as the “Target”), in each case
that is a type of business (or assets used in a type of business) permitted to be engaged in by the Borrower and its Subsidiaries pursuant to Subsection 6.10, so long as (1) no Event of Default or Potential Event of Default shall then
exist or would exist after giving effect thereto, (2) the Borrower delivers a Compliance Certificate demonstrating that, after giving effect to such acquisition and any financing thereof on a pro forma basis as if such acquisition had been
completed on the first day of the four Fiscal Quarter period ending on the last day of the most recent Fiscal Quarter for which financial statements have been delivered pursuant to Subsection 5.1(ii) (such last day, the “test
date”), the Borrower and its Subsidiaries would have been in compliance with each of the financial covenants set forth in Subsection 6.6 and (3) such acquisition shall not be a “hostile” acquisition and shall have been
approved by the Governing Body and/or shareholders of the Borrower or such Subsidiary, as applicable, and Target; 
 (ix)
Investments in Securities, whether purchased and held for resale to customers, for such Person’s own investment purposes or to fund deferred compensation liabilities for employees, in each case, in the ordinary course of business and consistent
with past practice; 
 (x) Investments in margin loans to retail customers in the ordinary course of business and consistent
with past practice; 
 (xi) (A) Investments in Edward Jones Mortgage, LLC and Passport Research Ltd. in existence on the
Closing Date and (B) additional Investments in Joint Ventures (including Edward Jones Mortgage, LLC and Passport Research Ltd.) from and after the Closing Date in an aggregate amount not at any time to exceed $25,000,000; 

(xii) Investments in Securities issued by Government Authorities with a maturity of up to ten (10) years and in an
aggregate principal amount not to exceed the amount of any bond issue permitted under the terms hereof; 

  
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 (xiii) Investments by the Borrower constituting loans to the Borrower’s
partners, the proceeds of which are used exclusively for the concurrent purchase of Partnership Capital; 
 (xiv) Investments
by the Borrower permitted pursuant to Subsection 6.5(a)(v); and 
 (xv) other additional Investments not otherwise
permitted pursuant to this Subsection 6.3 in an aggregate amount not to exceed $25,000,000 at any time. 
 For purposes of
determining the amount of any Investment outstanding for purposes of this Subsection 6.3, such amount shall be deemed to be the amount of such Investment when made, purchased or acquired less any amount realized in respect of such Investment
upon the sale, collection or return of capital (not to exceed the original amount invested). 
 6.4 Fiscal Year. 

The Borrower shall not change its Fiscal Year-end from December 31 without prior written notice to the Administrative Agent. 

6.5 Restricted Payments. 

The Borrower shall not, and shall not permit any of the Subsidiaries to, directly or indirectly, declare, order, pay, make or set apart any
sum for any Restricted Payment so long as any Event of Default shall have occurred and be continuing or shall be caused thereby; provided, however, that: 

(a) except as set forth in clause (b) below, notwithstanding the occurrence and continuance of an Event of Default, the Borrower shall be
permitted to make and/or pay: 
 (i) distributions to its partners in order for each of them to pay any and all foreign,
federal, state or local income, employment and/or other taxes arising with respect to the income, gains or profit of the Borrower and its Subsidiaries (assuming that each partner is in the highest marginal rate for each taxing jurisdiction)
(collectively, the “Tax Distributions”); 
 (ii) distributions to fund the repayment of principal and
interest on loans incurred by the partners to make their respective capital contributions; 
 (iii) salaries to its partners
in accordance with its Organizational Documents; 
 (iv) guaranteed payments to its limited partners as they come due in
accordance with its Organizational Documents and not on an accelerated basis; 
 (v) distributions to its partners required
by the Borrower’s Repurchase Obligations; and 
 (vi) distributions to its partners in an amount not to exceed
$5,000,000 in order to pay other amounts owing to such partners; 

  
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 in each case of the foregoing clauses (i) through and including (vi), in the ordinary course
of business and consistent with past practice (collectively, the “Permitted Restricted Payments”); and 
 (b) if an Event
of Default in respect of Section 6.6B shall have occurred, no Permitted Restricted Payments (other than Tax Distributions) shall be permitted from and after the occurrence of such Event of Default and during the continuance thereof. 

6.6 Financial Covenants. 

A. Maximum Leverage Ratio. The Borrower shall not, at any time, permit the Leverage Ratio to be greater than thirty five percent (35%).

 B. Minimum Partnership Capital. The Borrower shall maintain Partnership Capital at all times of not less than an amount equal to
the sum of (i) $1,381,577,250 plus (ii) fifty percent (50%) of the Change in Partnership Capital (if positive) for each Fiscal Quarter ending after the Closing Date and on or prior to the date of determination. 

6.7 Restriction on Fundamental Changes; Asset Sales. 

The Borrower shall not, and shall not permit any of its Subsidiaries to, enter into any transaction of merger or consolidation, or liquidate,
wind-up or dissolve itself (or suffer any liquidation or dissolution), or convey, sell, lease or sub-lease (as lessor or sublessor), transfer or otherwise dispose of, in one transaction or a series of transactions, all or any part of its business,
property or assets (including its notes or receivables and Capital Stock of any Subsidiary, whether newly issued or outstanding), whether now owned or hereafter acquired, except: 

(i) sales of Securities sold in the ordinary course of business; 

(ii) (A) any Subsidiary of the Borrower may be merged or consolidated with or otherwise combined into the Borrower or any
Wholly-Owned Subsidiary; provided that, in the case of such a merger, consolidation or other combination, the Borrower or such other Wholly-Owned Subsidiary shall be the continuing or surviving Person, (B) any Subsidiary of the Borrower
may be liquidated, wound up or dissolved into the Borrower or any Wholly-Owned Subsidiary and (C) all or any part of the business, property or assets of any Subsidiary of the Borrower may be conveyed, sold, leased, sub-leased, transferred or
otherwise disposed of, in one transaction or a series of transactions, to the Borrower or any Wholly-Owned Subsidiary; 

(iii) dispositions of obsolete, used, worn out or surplus property in the ordinary course of business; 

(iv) sales or dispositions of shares of Capital Stock of any of the Borrower’s Subsidiaries in order to qualify members of
the Governing Body of such Subsidiary if required by applicable law; 

  
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 (v) any Person may be merged or consolidated with or otherwise combined into the
Borrower or any Subsidiary if the acquisition of the Capital Stock of such Person by the Borrower or such Subsidiary would have been permitted pursuant to Subsection 6.3; or all or any part of such Person’s business, property or assets
may be conveyed, sold, leased, sub-leased, transferred or otherwise disposed of, in one transaction or a series of transactions to a Borrower or a Subsidiary, provided that (a) in the case of the Borrower, the Borrower shall be the
continuing or surviving Person, (b) if a Subsidiary is not the surviving or continuing Person, the surviving Person becomes a Subsidiary and (c) no Potential Event of Default or Event of Default shall have occurred or be continuing after
giving effect thereto; 
 (vi) sales, transfers and asset swaps in the ordinary course of business that are described in
Schedule 6.7; 
 (vii) sale and leaseback transactions permitted under Subsection 6.9; 

(viii) the lease, sub-lease, license, sublicense or other transfer of real or personal property (including Intellectual
Property) in the ordinary course of business in accordance with past practices; 
 (ix) any Subsidiary of the Borrower may
enter into and consummate any Chapter 100 Transactions; 
 (x) sales or dispositions of assets or Capital Stock of Edward
Jones Trust Co. and/or Edward Jones (Ontario Limited Partnership); and 
 (xi) additional conveyances, sales, leases or
sub-leases (as lessor or sublessor), transfers or other dispositions of assets not otherwise permitted by this Subsection 6.7 in any Fiscal Year of assets having a fair market value, as of the date of any such transaction, in an
aggregate amount for such Fiscal Year not to exceed ten percent (10%) of Partnership Capital as of the first day of such Fiscal Year. 

6.8 Transactions with Affiliates. 

The Borrower shall not, and shall not permit any of its Subsidiaries to, directly or indirectly, enter into or permit to exist any transaction
(including the purchase, sale, lease or exchange of any property or assets or the rendering of any service) of any kind with any Affiliate of the Borrower except (a) in the ordinary course of business of the Borrower or the applicable
Subsidiary at prices and on terms and conditions not less favorable to the Borrower or such Subsidiary than could be obtained on an arm’s length basis for unrelated third parties; (b) transactions between or among the Borrower and its
Wholly-Owned Subsidiaries or between or among Wholly-Owned Subsidiaries of the Borrower; (c) transactions permitted pursuant to Subsections 6.1, 6.3, 6.5 or 6.7; (d) payment of customary fees and expenses to
members of the board of directors of the Borrower and its Subsidiaries in the ordinary course of business; (e) payment of employee compensation in the ordinary course of business to any Affiliate who is an individual in such Person’s
capacity as an officer, employee or consultant of the Borrower or any of its Subsidiaries; and (f) transactions existing on the date hereof identified on Schedule 6.8. 

  
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 6.9 Sale and Lease-Backs. 

Except as set forth on Schedule 6.9 hereto, the Borrower shall not, and shall not permit any of its Subsidiaries to, directly or
indirectly, become or remain liable as lessee or as a guarantor or other surety with respect to any lease (including a Capital Lease), of any property (whether real, personal or mixed), whether now owned or hereafter acquired, that the Borrower or
any of its Subsidiaries sells or transfers or is to sell or transfer to any other Person (other than the Borrower or any of its Subsidiaries); provided that (i) the Borrower and its Subsidiaries may become and remain liable as lessee,
guarantor or other surety with respect to any such lease if and to the extent that the Borrower or any of its Subsidiaries would be permitted to enter into, and remain liable under, such lease to the extent that the transaction would be permitted
under Subsection 6.1, as if the sale and lease-back transaction constituted Indebtedness in a principal amount equal to the gross proceeds of the sale and (ii) any Subsidiary of the Borrower may enter into the transactions contemplated
by Subsection 6.7(ix). 
 6.10 Conduct of Business. 

From and after the Closing Date, the Borrower shall not, and shall not permit any of its Subsidiaries to, engage in any businesses that are
material to the Borrower and its Subsidiaries, taken as a whole, other than the businesses engaged in by the Borrower and its Subsidiaries on the Closing Date, and businesses reasonably related, complementary, ancillary or incidental thereto. 

6.11 Limitations on Co-Issuer Subsidiaries. 

The Borrower shall not permit any Co-Issuer Subsidiary to (a) hold any assets other than non-material assets, (b) have any
liabilities other than Indebtedness permitted pursuant to Subsection 6.1(xii) or (c) engage in any activities or business other than acting as a co-issuer with the Borrower of Indebtedness permitted pursuant to Subsection
6.1(xii). 
 6.12 Foreign Assets Control Regulations, Anti-Corruption Laws. 

The Borrower shall not, and shall not permit any of its Subsidiaries to, directly or indirectly, use any Loans or the proceeds of any Loans,
or lend, contribute or otherwise make available such Loans or the proceeds of any Loans to any Person, (a) to fund any activities of or business with any Person, that, at the time of such funding, is a Sanctioned Person or a resident in a
Sanctioned Country, or in any other manner that will result in a violation by any Person (including, without limitation, the Administrative Agent, the Swing Line Lender and each Lender) of any international economic sanction administered or enforced
by the government of the United States (including, without limitation, OFAC), the United Nations Security Council, the European Union, Her Majesty’s Treasury or other relevant sanctions authority, or (b) in furtherance of an offer,
payment, promise to pay or authorization of the payment or giving of money or anything else of value, to any Person in violation of any Anti-Corruption Laws. 

  
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 SECTION 7. EVENTS OF DEFAULT 

If any of the following conditions or events (“Events of Default”) shall occur: 

7.1 Failure to Make Payments When Due. 

Failure of the Borrower to pay any principal of any Loan when due, whether at stated maturity, by acceleration, by notice of voluntary
prepayment, by mandatory prepayment or otherwise; or failure by the Borrower to pay any interest on any Loan or any fee or any other Obligation within three (3) Business Days after the date due; or 

7.2 Default in Other Agreements. 

(i) Failure of the Borrower or any of its Subsidiaries to pay when due any principal of or interest on or any other amount
payable in respect of Indebtedness (other than Indebtedness referred to in Subsection 7.1) with an outstanding principal amount of at least $25,000,000 for any one item of Indebtedness or for multiple items of Indebtedness in the aggregate,
in each case beyond the end of any grace period provided therefor; or 
 (ii) breach or default by the Borrower or any of its
Subsidiaries with respect to any agreement or condition relating to Indebtedness with an outstanding principal amount of at least $25,000,000 for any one item of Indebtedness or for multiple items of Indebtedness in the aggregate, 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 breach, default, event or condition is to cause, or to permit the holder or holders of that Indebtedness (or
a trustee on behalf of such holder or holders) to cause, such Indebtedness to become or be declared due and payable prior to its stated maturity or the stated maturity of any underlying obligation, as the case may be (with all notices provided for
therein having been given and all grace periods provided for therein having lapsed, such that no further notice or passage of time is required in order for such holders or such trustee to exercise such right, other than notice of their or its
election to exercise such right); or 
 7.3 Breach of Certain Covenants. 

Failure of the Borrower to perform or comply with any term or condition contained in Subsection 2.5, 5.1(i), 5.2 or
Section 6 (other than Subsection 6.4) of this Agreement; or 
 7.4 Breach of Warranty. 

Any representation, warranty or certification made by the Borrower or any of its Subsidiaries in any Loan Document or in any certificate at
any time given by the Borrower or any of its Subsidiaries in writing pursuant hereto or thereto or in connection herewith or therewith (i) that is subject to materiality qualifications shall be incorrect or misleading in any respect when made
or deemed made or (ii) that is not subject to materiality qualifications shall be incorrect or misleading in any material respect when made or deemed made; or 

  
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 7.5 Other Defaults Under Loan Documents. 

The Borrower or any of its Subsidiaries shall default in the performance of or compliance with any term contained in this Agreement or any of
the other Loan Documents, other than any such term referred to or covered in any other Subsection of this Section 7, and such default shall not have been remedied or waived within 30 days after receipt by the Borrower or such Subsidiary
of notice from the Administrative Agent or any Lender of such default; or 
 7.6 Involuntary Bankruptcy; Appointment of Receiver,
etc. 
 (i) A court having jurisdiction in the premises shall enter a decree or order for relief in respect of the
Borrower or any of its Subsidiaries in an involuntary case under the Bankruptcy Code or under any other applicable bankruptcy, insolvency or similar law now or hereafter in effect, which decree or order is not stayed; or any other similar relief
shall be granted under any applicable federal or state law; or 
 (ii) an involuntary case shall be commenced against the
Borrower or any of its Subsidiaries under the Bankruptcy Code or under any other applicable bankruptcy, insolvency or similar law now or hereafter in effect; or a decree or order of a court having jurisdiction in the premises for the appointment of
a receiver, liquidator, sequestrator, trustee, conservator, custodian or other officer having similar powers over the Borrower or any of its Subsidiaries, or over all or a substantial part of its property, shall have been entered; or there shall
have occurred the involuntary appointment of an interim receiver, trustee or other custodian of the Borrower or any of its Subsidiaries for all or a substantial part of the property of the Borrower or any of its Subsidiaries, and any such event
described in this clause (ii) shall continue for 60 days unless dismissed, bonded or discharged; or 
 7.7 Voluntary Bankruptcy;
Appointment of Receiver, etc. 
 (i) The Borrower or any of its Subsidiaries shall have an order for relief entered
with respect to it or commence a voluntary case under the Bankruptcy Code or under any other applicable bankruptcy, insolvency or similar law now or hereafter in effect, or shall consent to the entry of an order for relief in an involuntary case, or
to the conversion of an involuntary case to a voluntary case, under any such law, or shall consent to the appointment of or taking possession by a receiver, trustee or other custodian for all or a substantial part of its property; or the Borrower or
any of its Subsidiaries shall make any assignment for the benefit of creditors; or 
 (ii) the Borrower or any of its
Subsidiaries shall be unable, or shall fail generally, or shall admit in writing its inability, to pay its debts as such debts become due; or the Governing Body of the Borrower or any of its Subsidiaries (or any committee thereof) shall adopt any
resolution or otherwise authorize any action to approve any of the actions referred to in clause (i) above or this clause (ii); or 

7.8 Judgments and Attachments. 

Any money judgment, writ or warrant of attachment, execution or similar process involving in the aggregate at any time an amount in excess of
$25,000,000 to the extent not adequately covered by insurance as to which a solvent and unaffiliated insurance company has 

  
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acknowledged coverage, shall be entered or filed against the Borrower or any of its Subsidiaries or any of their respective assets and shall remain undischarged, unvacated, unbonded or unstayed
for a period of 60 days (or in any event later than five (5) days prior to the date of any proposed sale thereunder); or 
 7.9
Dissolution. 
 Any order, judgment or decree shall be entered against the Borrower or any of its Subsidiaries decreeing the
dissolution or split up of the Borrower or such Subsidiary in a manner not permitted under Subsections 5.2 or 6.7, and such order shall remain undischarged or unstayed for a period in excess of 30 days; or 

7.10 Employee Benefit Plans. 

There shall occur one or more ERISA Events that individually or in the aggregate result in or would reasonably be expected to result in a
Material Adverse Effect; or there shall exist an amount of unfunded benefit liabilities (as reported in the Borrower’s most recent Form 5500), individually or in the aggregate for all Pension Plans to which the Borrower or any of its
Subsidiaries has contributed (excluding for purposes of such computation any Pension Plans with respect to which assets exceed benefit liabilities), which would reasonably be expected to result in a Material Adverse Effect; or 

7.11 Change in Control. 

A Change in Control shall have occurred; or 

7.12 SIPC. 
 The
Commission or any Self-Regulatory Organization shall have notified the SIPC pursuant to Section 5(a)(1) of the SIPA of facts which lead it to reasonably believe that the Borrower or any Subsidiary thereof is in or is approaching financial
difficulty, or the SIPC shall file an application for a protective decree with respect to the Borrower or any of its Subsidiaries under Section 5(a)(3) of the SIPA; or 

7.13 Broker-Dealer License. 

The Commission or other Government Authority shall revoke or suspend the license or authorization of any Subsidiary of the Borrower under
Federal or Missouri state law (or any other state in which five percent (5%) or more of securities trade revenue is generated) to conduct business as a securities broker-dealer (and such license or authorization shall not be reinstated within
five days), or any Subsidiary of the Borrower shall be suspended or expelled from membership in the FINRA or any other Self-Regulatory Organization or securities exchange; or 

7.14 Invalidity of Loan Documents; Repudiation of Obligations. 

At any time after the execution and delivery thereof, (i) any Loan Document or any provision thereof, for any reason other than the
satisfaction in full of all Obligations, shall 

  
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cease to be in full force and effect (other than in accordance with its terms) or shall be declared to be null and void, (ii) the Borrower or any of its Subsidiaries shall contest the
validity or enforceability of any Loan Document or any provision thereof in writing, or (iii) the Borrower shall deny in writing that it has any further liability, including with respect to future advances by the Lenders, under any Loan
Document or any provision thereof; 
 THEN (i) upon the occurrence of any Event of Default described in Subsection 7.6 or
7.7 in respect of the Borrower or any of its Subsidiaries, (a) the Commitment shall be terminated and the obligation of each Lender to make any Loan hereunder shall thereupon terminate and (b) the unpaid principal amount of and
accrued interest on the Loans and all other Obligations shall automatically become immediately due and payable, without presentment, demand, protest or other requirements of any kind, all of which are hereby expressly waived by the Borrower, and
(ii) upon the occurrence and during the continuation of any other Event of Default, the Administrative Agent shall, upon the written request or with the written consent of the Requisite Lenders, by written notice to the Borrower, declare all or
any portion of the amounts described in clauses (a) and (b) above to be, and the same shall forthwith become, immediately due and payable, and the obligation of each Lender to make any Loan hereunder shall thereupon terminate;
provided that the foregoing shall not affect in any way the obligations of the Lenders to purchase assignments of any unpaid Swing Line Loans as provided in Subsection 2.1A(ii). 

Notwithstanding anything contained in the preceding paragraph, if at any time within 60 days after an acceleration of the Loans pursuant to
clause (ii) of the preceding paragraph the Borrower shall pay all arrears of interest and all payments on account of principal which shall have become due otherwise than as a result of such acceleration (with interest on principal and, to the
extent permitted by law, on overdue interest, at the rates specified in this Agreement) and all Events of Default and Potential Events of Default (other than non-payment of the principal of and accrued interest on the Loans, in each case which is
due and payable solely by virtue of acceleration) shall be remedied or waived pursuant to Subsection 9.6, then the Requisite Lenders, by written notice to the Borrower, may at their option rescind and annul such acceleration and its
consequences; but such action shall not affect any subsequent Event of Default or Potential Event of Default or impair any right consequent thereon. The provisions of this paragraph are intended merely to bind the Lenders to a decision which may be
made at the election of the Requisite Lenders, and such provisions shall not at any time be construed so as to grant the Borrower the right to require the Lenders to rescind or annul any acceleration hereunder or to preclude the Administrative Agent
or the Lenders from exercising any of the rights or remedies available to them under any of the Loan Documents, even if the conditions set forth in this paragraph are met. 

SECTION 8. ADMINISTRATIVE AGENT 
 8.1
Appointment. Wells Fargo is hereby appointed the Administrative Agent hereunder and under the other Loan Documents. Each Lender hereby authorizes the Administrative Agent to act as its agent in accordance with the terms of this Agreement
and the other Loan Documents. Wells Fargo agrees to act upon the express conditions contained in this Agreement and the other Loan Documents, as applicable. The provisions of this Section 8 are solely for the benefit of the
Administrative Agent and the Lenders and neither the Borrower nor 

  
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any of its Subsidiaries shall have rights as a third party beneficiary of any of the provisions hereof, except that the Borrower shall be a third party beneficiary of Subsections 8.5A,
8.5B and 8.6 and shall be entitled to enforce its rights thereunder. In performing its functions and duties under this Agreement, the Administrative Agent (other than as provided in Subsection 2.1D) shall act solely as an agent
of the Lenders and does not assume and shall not be deemed to have assumed any obligation towards or relationship of agency or trust with or for the Borrower or any of its Subsidiaries. 

8.2 Powers and Duties; General Immunity. 

A. Powers; Duties Specified. Each Lender irrevocably authorizes the Administrative Agent to take such action on such Lender’s
behalf and to exercise such powers, rights and remedies hereunder and under the other Loan Documents as are specifically delegated or granted to the Administrative Agent by the terms hereof and thereof, together with such powers, rights and remedies
as are reasonably incidental thereto. The Administrative Agent shall have only those duties and responsibilities that are expressly specified in this Agreement and the other Loan Documents. The Administrative Agent may exercise such powers, rights
and remedies and perform such duties by or through its agents or employees. The Administrative Agent shall not have, by reason of this Agreement or any of the other Loan Documents, a fiduciary relationship in respect of any Lender or the Borrower;
and nothing in this Agreement or any of the other Loan Documents, expressed or implied, is intended to or shall be so construed as to impose upon the Administrative Agent any obligations in respect of this Agreement or any of the other Loan
Documents except as expressly set forth herein or therein. 
 B. No Responsibility for Certain Matters. The Administrative Agent
shall not be responsible to any Lender for the execution, effectiveness, genuineness, validity, enforceability, collectability or sufficiency of this Agreement or any other Loan Document or for any representations, warranties, recitals or statements
made herein or therein or made in any written or oral statements or in any financial or other statements, instruments, reports or certificates or any other documents furnished or made by the Administrative Agent to the Lenders or by or on behalf of
the Borrower to the Administrative Agent or any Lender in connection with the Loan Documents and the transactions contemplated thereby or for the financial condition or business affairs of the Borrower or any other Person liable for the payment of
any Obligations, nor shall the Administrative Agent be required to ascertain or inquire as to the performance or observance of any of the terms, conditions, provisions, covenants or agreements contained in any of the Loan Documents or as to the use
of the proceeds of the Loans or as to the existence or possible existence of any Event of Default or Potential Event of Default. 
 C.
Exculpatory Provisions. None of the Administrative Agent, Bank of America, N.A., as Syndication Agent, Fifth Third Bank, JPMorgan Chase Bank, N.A. and U.S. Bank National Association, as the Documentation Agents (collectively, the
“Agents” and each an “Agent”) nor any of their respective officers, directors, employees or agents shall be liable to the Lenders for any action taken or omitted by such Agent under or in connection with any of the
Loan Documents except to the extent caused by such Agent’s gross negligence or willful misconduct. Each Agent shall be entitled to refrain from any discretionary act or the taking of any discretionary action (including the failure to take
an action) in connection with this Agreement or any of the other Loan Documents or from the exercise of any power, discretion or 

  
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authority vested in it hereunder or thereunder unless and until such Agent shall have received instructions in respect thereof from the Requisite Lenders (or such other Lenders as may be required
to give such instructions under Subsection 9.6) and, upon receipt of such instructions from the Requisite Lenders (or such other Lenders, as the case may be), such Agent shall be required to act or (where so instructed) refrain from acting,
or to exercise such power, discretion or authority, in accordance with such instructions; provided that no Agent shall be required to take any action that, in its opinion or the opinion of its counsel, may expose such Agent to liability or that is
contrary to any Loan Document or applicable law. Without prejudice to the generality of the foregoing, (i) each Agent shall be entitled to rely, and shall be fully protected in relying, upon any communication (including any electronic
message, Internet or intranet website posting or other distribution), instrument or document believed by it to be genuine and correct and to have been signed or sent by the proper person or persons, and shall be entitled to rely and shall be
protected in relying on opinions and judgments of attorneys (who may be attorneys for the Borrower and its Subsidiaries), accountants, experts and other professional advisors selected by it; and (ii) no Lender shall have any right of action
whatsoever against any Agent as a result of such Agent acting or (where so instructed) refraining from acting under this Agreement or any of the other Loan Documents in accordance with the instructions of the Requisite Lenders (or such other Lenders
as may be required to give such instructions under Subsection 9.6). 
 D. Administrative Agent Entitled to Act as Lender.
The agency hereby created shall in no way impair or affect any of the rights and powers of, or impose any duties or obligations upon, the Administrative Agent in its individual capacity as a Lender hereunder. The term “Lender” or
“Lenders” or any similar term shall, unless the context clearly otherwise indicates, include the Administrative Agent in its individual capacity. The Administrative Agent and its Affiliates may accept deposits from, lend money to, acquire
equity interests in and generally engage in any kind of commercial banking, investment banking, trust, financial advisory or other business with the Borrower or any of its Affiliates as if it were not performing the duties specified herein, and may
accept fees and other consideration from the Borrower for services in connection with this Agreement and otherwise without having to account for the same to the Lenders. 

8.3 Independent Investigation by Lenders; No Responsibility For Appraisal of Creditworthiness. 

Each Lender agrees that it has made its own independent investigation of the financial condition and affairs of the Borrower and its
Subsidiaries in connection with the making of the Loans hereunder and that it has made and shall continue to make its own appraisal of the creditworthiness of the Borrower and its Subsidiaries. The Administrative Agent shall not have any duty or
responsibility, either initially or on a continuing basis, to make any such investigation or any such appraisal on behalf of the Lenders or to provide any Lender with any credit or other information with respect thereto, whether coming into its
possession before the making of the Loans or at any time or times thereafter, and the Administrative Agent shall not have any responsibility with respect to the accuracy of or the completeness of any information provided to the Lenders. 

  
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 8.4 Right to Indemnity. 

Each Lender, in proportion to its Pro Rata Share, severally agrees to indemnify the Administrative Agent and its officers, directors,
employees, agents, attorneys, professional advisors and Affiliates (collectively, the “Agent Indemnitees”) to the extent that any such Person shall not have been reimbursed by the Borrower, for and against any and all liabilities,
obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses (including reasonable counsel fees and disbursements and fees and disbursements of any financial advisor engaged by the Administrative Agent) or disbursements of any
kind or nature whatsoever which may be imposed on, incurred by or asserted against the Administrative Agent or such other Person in exercising the powers, rights and remedies of the Administrative Agent or performing duties of the Administrative
Agent hereunder or under the other Loan Documents or otherwise in its capacity as the Administrative Agent in any way relating to or arising out of this Agreement or the other Loan Documents; provided that no Lender shall be liable for any portion
of such liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any Agent Indemnitee resulting solely from that Agent Indemnitee’s gross negligence or willful misconduct as determined
by a final judgment of a court of competent jurisdiction. If any indemnity furnished to the Administrative Agent or any other such Person for any purpose shall, in the opinion of the Administrative Agent, be insufficient or become impaired, the
Administrative Agent may call for additional indemnity and cease, or not commence, to do the acts indemnified against until such additional indemnity is furnished. 

8.5 Resignation of the Administrative Agent; Successor Administrative Agent and Swing Line Lender. 

A. Resignation; Successor Administrative Agent. The Administrative Agent may resign at any time by giving 30 days’ prior written
notice thereof to the Lenders and the Borrower. Upon any such notice of resignation by the Administrative Agent, the Requisite Lenders shall have the right, upon five (5) Business Days’ notice to the Borrower, to appoint a successor
Administrative Agent, with such appointment subject, so long as no Event of Default shall have occurred and be continuing, to prior approval of the Borrower (such approval not to be unreasonably withheld or delayed). If no such successor shall have
been so appointed by the Requisite Lenders and shall have accepted such appointment within 30 days after the retiring Administrative Agent gives notice of its resignation, the retiring Administrative Agent may, on behalf of the Lenders, appoint a
successor Administrative Agent with such appointment subject, so long as no Event of Default shall have occurred and be continuing, to prior approval of the Borrower (such approval not to be unreasonably withheld or delayed). If the Administrative
Agent shall notify the Lenders and the Borrower that no Person has accepted such appointment as successor Administrative Agent, such resignation shall nonetheless become effective in accordance with the Administrative Agent’s notice and
(i) the retiring Administrative Agent shall be discharged from its duties and obligations under the Loan Documents, and (ii) all payments, communications and determinations provided to be made by, to or through the Administrative Agent
shall instead be made by, to or through each Lender directly, until such time as the Requisite Lenders appoint a successor Administrative Agent in accordance with this Subsection 8.5A. Upon the acceptance of any appointment as the
Administrative Agent hereunder by a successor Administrative Agent, that successor Administrative Agent shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Administrative Agent and the
retiring Administrative Agent shall be discharged from its duties and obligations under this Agreement (if not already discharged as set forth above). After the 

  
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Administrative Agent’s resignation hereunder, 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 the
Administrative Agent under this Agreement. 
 B. Successor Swing Line Lender. Any resignation of the Administrative Agent pursuant to
Subsection 8.5A shall also constitute the resignation of Wells Fargo or its successor as the Swing Line Lender, and any successor Administrative Agent appointed pursuant to Subsection 8.5A shall, upon its acceptance of such
appointment, become the successor Swing Line Lender for all purposes hereunder. In the events described in the preceding sentence, (i) the Borrower shall at the effective time of such resignation prepay any outstanding Swing Line Loans made by
the retiring Administrative Agent, in its capacity as Swing Line Lender, (ii) upon such prepayment, the retiring Administrative Agent shall surrender any Swing Line Note held by it to the Borrower for cancellation, and (iii) if so
requested by the successor Administrative Agent in accordance with Subsection 2.1E, the Borrower shall issue a Swing Line Note to the successor Administrative Agent substantially in the form of Exhibit IV, in the amount of the Swing
Line Loan Subfacility then in effect and with other appropriate insertions. 
 8.6 Administrative Agent May File Proofs of
Claim. 
 In case of the pendency of any receivership, insolvency, liquidation, bankruptcy, reorganization, arrangement, adjustment,
composition or other judicial proceeding relative to the Borrower or any of the Subsidiaries of the Borrower, the Administrative Agent (irrespective of whether the principal of any Loan shall then be due and payable as herein expressed or by
declaration or otherwise and irrespective of whether the Administrative Agent shall have made any demand on the Borrower) shall be entitled and empowered, by intervention in such proceeding or otherwise: 

(i) to file and prove a claim for the whole amount of principal and interest owing and unpaid in respect of the Loans and any
other Obligations that are owing and unpaid and to file such other papers or documents as may be necessary or advisable in order to have the claims of the Lenders and the Administrative Agent (including any claim for the reasonable compensation,
expenses, disbursements and advances of the Lenders and the Administrative Agent and their agents and counsel and all other amounts due the Lenders and the Administrative Agent under Subsections 2.3 and 9.2) allowed in such judicial
proceeding, and 
 (ii) to collect and receive any moneys or other property payable or deliverable on any such claims and to
distribute the same; 
 and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding
is hereby authorized by each Lender to make such payments to the Administrative Agent and, in the event that the Administrative Agent shall consent to the making of such payments directly to the Lenders, to pay to the Administrative Agent any amount
due for the reasonable compensation, expenses, disbursements and advances of the Administrative Agent and its agents and counsel, and any other amounts due the Administrative Agent under Subsections 2.3 and 9.2. 

  
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 Nothing herein contained shall be deemed to authorize the Administrative Agent to authorize or
consent to or accept or adopt on behalf of any Lender any plan of reorganization, arrangement, adjustment or composition affecting the Obligations or the rights of any Lenders or to authorize the Administrative Agent to vote in respect of the claim
of any Lender in any such proceeding. 
 8.7 No Other Duties, etc. Anything herein to the contrary notwithstanding, none of
the syndication agents, documentation agents, co-agents, book manager, lead manager, arranger, lead arranger or co-arranger listed on the cover page or signature pages hereof shall have any powers, duties or responsibilities under this Agreement or
any of the other Loan Documents, except in its capacity, as applicable, as the Administrative Agent or a Lender hereunder. 
 SECTION 9.
MISCELLANEOUS 
 9.1 Successors and Assigns; Assignments and Participations in Loans. 

A. General. This Agreement shall be binding upon the parties hereto and their respective successors and assigns and shall inure to the
benefit of the parties hereto and the successors and assigns of the Lenders and the successors and permitted assigns of the Borrower (it being understood that the Lenders’ and the Borrower’s rights of assignment are subject to the further
provisions of this Subsection 9.1). Neither Borrower’s rights nor obligations hereunder nor any interest therein may be assigned or delegated by the Borrower without the prior written consent of all Lenders (and any attempted assignment
or transfer by the Borrower without such consent shall be null and void). Anything contained herein to the contrary notwithstanding, except as provided in Subsection 2.1A(ii) and Subsection 9.5, the Swing Line Loan Subfacility and the
Swing Line Loans of the Swing Line Lender may not be sold, assigned or transferred as described below to any Person other than to the extent contemplated by Subsection 8.5. Nothing in this Agreement, expressed or implied, shall be construed
to confer upon any Person (other than the parties hereto, their respective successors and assigns permitted hereby and, to the extent expressly contemplated hereby, the Affiliates of each of the Administrative Agent and the Lenders and the
Indemnitees) any legal or equitable right, remedy or claim under or by reason of this Agreement. 
 B. Assignments. 

(i) Amounts and Terms of Assignments. Any Lender may assign to one or more Eligible Assignees all or any portion of its
rights and obligations under this Agreement; provided that (a), except (1) in the case of an assignment of the entire remaining amount of the assigning Lender’s rights and obligations under this Agreement or (2) in the case of
an assignment to a Lender or an Affiliate of a Lender or an Approved Fund of a Lender, the aggregate amount of the Revolving Loan Exposure of the assigning Lender and the assignee subject to each such assignment shall not be less than $5,000,000 and
in increments of $1,000,000 in excess thereof, unless the Administrative Agent otherwise consents (such consent not to be unreasonably withheld or delayed), provided that simultaneous assignments to or by two or more related Funds shall be
treated as one assignment for purposes of this clause (a), (b) each partial assignment shall be made as an assignment of a proportionate part of all the assigning Lender’s rights and obligations

  
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under this Agreement with respect to the Loan or the Commitment assigned; and any assignment of all or any portion of a Revolving Loan Commitment or Revolving Loan shall be made only as an
assignment of the same proportionate part of the assigning Lender’s Revolving Loan Commitment or Revolving Loans, (c) the parties to each assignment shall execute and deliver to the Administrative Agent an Assignment Agreement, together
with a processing and recordation fee of $3,500 (which fee may be waived by the Administrative Agent in its sole discretion), and the Eligible Assignee, if it shall not already be a Lender, shall deliver to the Administrative Agent information
reasonably requested by the Administrative Agent, including forms, certificates or other information in compliance with Subsection 2.7B(iv), and (d) except in the case of an assignment to another Lender, an Affiliate of a Lender or an
Approved Fund of a Lender, the Administrative Agent, the Swing Line Lender and, if no Event of Default or Potential Event of Default has occurred and is continuing, the Borrower, shall have consented thereto (which consent shall not be unreasonably
withheld). 
 Upon such execution, delivery and consent, from and after the effective date specified in such Assignment Agreement,
(y) the assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment Agreement, shall have the rights and obligations of a Lender hereunder and
(z) the assigning Lender thereunder shall, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment Agreement, relinquish its rights (other than any rights which survive the termination of this
Agreement under Subsection 9.9B) and be released from its obligations under this Agreement (and, in the case of an Assignment Agreement covering all or the remaining portion of an assigning Lender’s rights and obligations under this
Agreement, such Lender shall cease to be a party hereto). The assigning Lender shall, upon the effectiveness of such assignment or as promptly thereafter as practicable, surrender its Notes, if any, to the Administrative Agent for cancellation, and
thereupon new Notes shall, if so requested by the assignee and/or the assigning Lender in accordance with Subsection 2.1E, be issued to the assignee and/or to the assigning Lender, substantially in the form of Exhibit III or Exhibit
IV, as the case may be, with appropriate insertions, to reflect the amounts of the new Commitments and/or outstanding Revolving Loans, as the case may be, of the assignee and/or the assigning Lender. Other than as provided in Subsection
2.1A(ii) and Subsection 9.5, any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this Subsection 9.1B shall be treated for purposes of this Agreement as a sale by such
Lender of a participation in such rights and obligations in accordance with Subsection 9.1C. 
 (ii) Acceptance by
Administrative Agent; Recordation in Register. Upon its receipt of an Assignment Agreement executed by an assigning Lender and an assignee representing that it is an Eligible Assignee, together with the processing and recordation fee referred to
in Subsection 9.1B(i) and any forms, certificates or other evidence with respect to United States federal income tax withholding matters that such assignee may be required to deliver to the Administrative Agent pursuant to
Subsection 2.7B(iv), the Administrative Agent shall, if the Administrative Agent, the Swing Line Lender and the Borrower have consented to the assignment evidenced thereby (in each case to the extent such consent is required pursuant to
Subsection 9.1B(i)), (a) accept such Assignment 

  
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Agreement by executing a counterpart thereof as provided therein (which acceptance shall evidence any required consent of the Administrative Agent to such assignment), (b) record the
information contained therein in the Register, and (c) give prompt notice thereof to the Borrower. The Administrative Agent shall maintain a copy of each Assignment Agreement delivered to and accepted by it as provided in this Subsection
9.1B(ii). 
 (iii) Deemed Consent by the Borrower. If the consent of the Borrower to an assignment or to an
Eligible Assignee is required hereunder, the Borrower shall be deemed to have given its consent five (5) Business Days after the date notice thereof has been delivered by the assigning Lender (through the Administrative Agent) unless such
consent is expressly refused by the Borrower on or prior to such fifth Business Day. 
 C. Participations. Any Lender may, without
the consent of, or notice to, the Borrower or the Administrative Agent, sell participations to one or more Persons (other than a natural Person or the Borrower or any of its Affiliates) in all or a portion of such Lender’s rights and/or
obligations under this Agreement; provided that (i) such Lender’s obligations under this Agreement shall remain unchanged, (ii) such Lender shall remain solely responsible to the other parties hereto for the performance of such
obligations and (iii) the Borrower, the Administrative Agent and the Lenders shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under this Agreement. Any agreement or
instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement;
provided that such agreement or instrument may provide that such Lender will not, without the consent of the Participant, agree to any amendment, modification or waiver directly affecting (i) the extension of the scheduled final maturity
date of any Loan allocated to such participation or (ii) a reduction of the principal amount of or the rate of interest payable on any Loan allocated to such participation. Subject to the further provisions of this Subsection 9.1C, the
Borrower agrees that each Participant shall be entitled to the benefits of Subsections 2.6D and 2.7 to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to Subsection 9.1B. To the extent
permitted by law, each Participant also shall be entitled to the benefits of Subsection 9.4 as though it were a Lender, provided such Participant agrees to be subject to Subsection 9.5 as though it were a Lender. A Participant shall
not be entitled to receive any greater payment under Subsections 2.6D and 2.7A than the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant unless the sale of the
participation to such Participant is made with the Borrower’s prior written consent. No Participant shall be entitled to the benefits of Subsection 2.7 unless the Borrower is notified of the participation sold to such Participant and
such Participant agrees, for the benefit of the Borrower, to comply with Subsection 2.7B(iv) as though it were a Lender. 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, letters of credit or its other obligations under any Loan Document) except to the extent that such disclosure is necessary to establish that such 

  
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commitment, loan, letter of credit 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.

 D. Pledges and Assignments. Any Lender may, without the consent of the Administrative Agent or the Borrower, at any time pledge or
assign a security interest in all or any portion of its Loans, and the other Obligations owed to such Lender, to secure obligations of such Lender, including without limitation (A) any pledge or assignment to secure obligations to any Federal
Reserve Bank and (B) in the case of any Lender that is a Fund, any pledge or assignment to any holders of obligations owed, or securities issued, by such Lender including to any trustee for, or any other representative of, such holders;
provided that (i) no Lender shall be relieved of any of its obligations hereunder as a result of any such assignment or pledge and (ii) in no event shall any assignee or pledgee be considered to be a “Lender” or be
entitled to require the assigning Lender to take or omit to take any action hereunder. 
 E. Information. Each Lender may furnish any
information concerning the Borrower and its Subsidiaries in the possession of that Lender from time to time to pledgees under Subsection 9.1D, assignees and participants (including prospective assignees and participants), in each case subject
to Subsection 9.18. 
 F. Agreements of Lenders. Each Lender listed on the signature pages hereof hereby agrees, and each
Lender that becomes a party hereto pursuant to an Assignment Agreement shall be deemed to agree, (i) that it has experience and expertise in the making of or purchasing loans such as the Loans; and (ii) that it will make or purchase Loans
for its own account in the ordinary course of its business and without a view to distribution of such Loans within the meaning of the Securities Act or the Exchange Act or other federal securities laws (it being understood that, subject to the
provisions of this Subsection 9.1, the disposition of such Loans or any interests therein shall at all times remain within its exclusive control). 

9.2 Expenses. 

Whether or not the transactions contemplated hereby shall be consummated, the Borrower agrees to pay promptly (i) all reasonable
out-of-pocket costs and expenses incurred by the Administrative Agent, including reasonable fees, expenses and disbursements of counsel to the Administrative Agent, in connection with the negotiation, preparation, execution and administration of the
Loan Documents and any consents, amendments, waivers or other modifications thereto and any other documents or matters; (ii) all other reasonable costs and expenses incurred by the Administrative Agent and the Joint Lead Arrangers in connection
with the syndication of the Commitments; (iii) all reasonable costs and expenses, including reasonable attorneys’ fees (including allocated costs of internal counsel) and reasonable fees, costs and expenses of

  
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accountants, advisors and consultants, incurred by the Administrative Agent and its counsel at any time when an Event of Default has occurred and is continuing, relating to efforts to evaluate or
assess the Borrower or any of its Subsidiaries and its business or financial condition; and (iv) all reasonable costs and expenses, including reasonable attorneys’ fees (including allocated costs of internal counsel), reasonable fees,
costs and expenses of accountants, advisors and consultants and costs of settlement, incurred by the Administrative Agent and the Lenders in enforcing any Obligations of or in collecting any payments due from the Borrower hereunder or under the
other Loan Documents (including in connection with the enforcement of the Loan Documents) or in connection with any refinancing or restructuring of the credit arrangements provided under this Agreement in the nature of a “work-out” or
pursuant to any insolvency or bankruptcy proceedings. The Administrative Agent shall provide the Borrower with a detailed statement of all reimbursements or payments requested pursuant to this Subsection 9.2. 

9.3 Indemnity. 

In addition to the payment of expenses pursuant to Subsection 9.2, whether or not the transactions contemplated hereby shall be
consummated, the Borrower agrees to indemnify, pay and hold harmless the Administrative Agent and each of the Lenders, and the officers, directors, trustees, employees, agents, advisors and Affiliates of each of the foregoing (collectively called
the “Indemnitees”), from and against any and all Indemnified Liabilities (as hereinafter defined); provided that the Borrower shall not have any obligation to any Indemnitee hereunder with respect to any Indemnified
Liabilities to the extent such Indemnified Liabilities arise solely from the gross negligence or willful misconduct of that Indemnitee as determined by a final judgment of a court of competent jurisdiction. 

As used herein, “Indemnified Liabilities” means, collectively, any and all liabilities, obligations, losses, damages
(including natural resource damages) penalties, actions, judgments, suits, claims (including Environmental Claims), costs (including the costs of any investigation, study, sampling, testing, abatement, cleanup, removal, remediation or other response
action necessary to remove, remediate, clean up or abate any Hazardous Materials Activity), expenses and disbursements of any kind or nature whatsoever (including the reasonable fees and disbursements of counsel for Indemnitees in connection with
any investigative, administrative or judicial proceeding commenced or threatened by the Borrower or by any other Person, whether or not any such Indemnitee shall be designated as a party or a potential party thereto, and any fees or expenses
incurred by Indemnitees in enforcing this indemnity), whether direct, indirect or consequential and whether based on any federal, state or foreign laws, statutes, rules or regulations (including securities and commercial laws, statutes, rules or
regulations and Environmental Laws), on common law or equitable cause or on contract or otherwise, that are imposed on, incurred by, or asserted against any such Indemnitee, in any manner relating to or arising out of (i) this Agreement or the
other Loan Documents or the transactions contemplated hereby or thereby (including the Lenders’ agreement to make the Loans hereunder or the use or intended use of the proceeds thereof or any enforcement of any of the Loan Documents) or
(ii) any Environmental Claim or any Hazardous Materials Activity relating to or arising from, directly or indirectly, any past or present activity, operation, land ownership, or practice of the Borrower or any of its Subsidiaries. 

To the extent that the undertakings to indemnify, pay and hold harmless set forth in this Subsection 9.3 may be unenforceable in whole
or in part because they are violative of any law or public policy, the Borrower shall contribute the maximum portion that it is permitted to pay and satisfy under applicable law to the payment and satisfaction of all Indemnified Liabilities incurred
by Indemnitees or any of them. 

  
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 9.4 Set-Off. 

In addition to any rights now or hereafter granted under applicable law and not by way of limitation of any such rights, upon the occurrence
and during the continuation of any Event of Default each of the Lenders and their Affiliates is hereby authorized by the Borrower at any time or from time to time, without notice to the Borrower or to any other Person, any such notice being hereby
expressly waived, to set off and to appropriate and to apply any and all deposits (general or special, time or demand, provisional or final, including Indebtedness evidenced by certificates of deposit, whether matured or unmatured, but not including
(i) trust accounts, (ii) any asset, Security or other property right of the Borrower held solely as a fiduciary or otherwise for the benefit of another Person and (iii) any other asset, Security or account restricted by applicable law
or regulation including, without limitation, Rule 15c3-3, Rule 8c-1 or Rule 15c2-1 of the General Rules and Regulations promulgated by the Commission under the Exchange Act) and any other Indebtedness at any time held or owing by that Lender or any
Affiliate of that Lender to or for the credit or the account of the Borrower against and on account of the Obligations of the Borrower to that Lender (or any Affiliate of that Lender) or to any other Lender (or any Affiliate of any other Lender)
under this Agreement and the other Loan Documents, including all claims of any nature or description arising out of or connected with this Agreement or any other Loan Document, irrespective of whether or not (i) that Lender shall have made any
demand hereunder or (ii) the principal of or the interest on the Loans or any other amounts due hereunder shall have become due and payable pursuant to Section 7 and although said obligations and liabilities, or any of them, may be
contingent or unmatured; provided, that promptly following such set-off, appropriation and application, the Lender taking such action shall provide written notice thereof to the Borrower. 

9.5 Ratable Sharing. 

The Lenders hereby agree among themselves that if any of them shall, whether by voluntary or mandatory payment (other than a payment or
prepayment of Loans made and applied in accordance with the terms of this Agreement), by realization upon security, through the exercise of any right of set-off or banker’s lien, by counterclaim or cross action or by the enforcement of any
right under the Loan Documents or otherwise, or as adequate protection of a deposit treated as cash collateral under the Bankruptcy Code, receive payment or reduction of a proportion of the aggregate amount of principal, interest, fees and other
amounts then due and owing to that Lender hereunder or under the other Loan Documents (collectively, the “Aggregate Amounts Due” to such Lender) that is greater than the proportion received by any other Lender in respect of the
Aggregate Amounts Due to such other Lender, then the Lender receiving such proportionately greater payment shall, unless such proportionately greater payment is required by the terms of this Agreement, (i) notify the Administrative Agent and
each other Lender of the receipt of such payment and (ii) apply a portion of such payment to purchase assignments (which it shall be deemed to have purchased from each seller of an assignment simultaneously upon the receipt by such seller of
its portion of such payment) of the Aggregate Amounts Due to the other Lenders so that all such recoveries of Aggregate Amounts Due shall be shared by all Lenders in proportion to the Aggregate Amounts Due to them; provided that (A) if all or
part of such proportionately greater payment received by such purchasing Lender is thereafter recovered from such Lender upon the bankruptcy or reorganization of the Borrower or otherwise, those purchases shall be rescinded and the purchase prices
paid for such assignments 

  
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shall be returned to such purchasing Lender ratably to the extent of such recovery, but without interest and (B) the foregoing provisions shall not apply to (1) any payment made by the
Borrower pursuant to and in accordance with the express terms of this Agreement or (2) any payment obtained by a Lender as consideration for the assignment (other than an assignment pursuant to this Subsection 9.5) of or the sale of a
participation in any of its Obligations to any Eligible Assignee or Participant pursuant to Subsection 9.1B. The Borrower expressly consents to the foregoing arrangement and agrees that any purchaser of an assignment so purchased may
exercise any and all rights of a Lender as to such assignment as fully as if that Lender had complied with the provisions of Subsection 9.1B with respect to such assignment. In order to further evidence such assignment (and without prejudice
to the effectiveness of the assignment provisions set forth above), each purchasing Lender and each selling Lender agree to enter into an Assignment Agreement at the request of a selling Lender or a purchasing Lender, as the case may be, in form and
substance reasonably satisfactory to each such Lender. 
 9.6 Amendments and Waivers. 

No amendment, modification, termination or waiver of any provision of this Agreement or of the Notes, and no consent to any departure by the
Borrower therefrom, shall in any event be effective without the written concurrence of the Requisite Lenders (or by the Administrative Agent with the consent of the Requisite Lenders) and the Borrower; provided that no such amendment, modification,
termination, waiver or consent shall, without the consent of: 
 (i) each Lender with Obligations directly affected (whose
consent shall be sufficient for any such amendment, modification, termination or waiver without the consent of the Requisite Lenders) (1) reduce or forgive the principal amount of any Loan, (2) postpone the scheduled final maturity date of
any Loan (but not the date of any scheduled installment of principal), (3) postpone the date on which any interest or any fees are payable, (4) decrease the interest rate borne by any Loan (other than any waiver of any increase in the
interest rate applicable to any of the Loans pursuant to Subsection 2.2E) or the amount of any fees payable hereunder or (5) extend the Revolving Loan Commitment Termination Date; and 

(ii) each Lender, (1) change in any manner the definition of “Pro Rata Share” or the definition of
“Requisite Lenders” (except for any changes resulting solely from an increase in the aggregate amount of the Commitments approved by the Requisite Lenders), (2) change the provisions of Subsection 2.4B(iii) to provide that the
Lenders will not share pro rata in payments, (3) change in any manner any provision of this Agreement that, by its terms, expressly requires the approval or concurrence of all Lenders, (4) increase the maximum duration of Interest Periods
permitted hereunder, (5) change in any manner or waive the provisions contained in Subsection 2.4A(iii), Subsection 7.1 (except by virtue of any acceleration that has been rescinded and annulled in accordance with this Agreement),
Subsection 9.5 or this Subsection 9.6 or (6) change in any manner the provisions of Subsection 2.4B to provide that the Lenders will not share pro rata in reductions of the Revolving Loan Commitment Amount. 

In addition, no amendment, modification, termination or waiver of any provision (i) of Subsection 2.1A(ii) or of any other
provision of this Agreement relating to the Swing Line 

  
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Loan Subfacility or the Swing Line Loans shall be effective without the written concurrence of the Swing Line Lender, (ii) of Section 8 or of any other provision of this
Agreement which, by its terms, expressly requires the approval or concurrence of the Administrative Agent shall be effective without the written concurrence of the Administrative Agent, and (iii) that increases the amount of a Commitment of a
Lender shall be effective without the consent of such Lender. 
 The Administrative Agent may, but shall have no obligation to, with the
concurrence of any Lender, execute amendments, modifications, waivers or consents on behalf of that Lender. Any waiver or consent shall be effective only in the specific instance and for the specific purpose for which it was given. No notice to or
demand on the Borrower in any case shall entitle the Borrower to any other or further notice or demand in similar or other circumstances. Any amendment, modification, termination, waiver or consent effected in accordance with this Subsection
9.6 shall be binding upon each Lender at the time outstanding and each future Lender. 
 Notwithstanding anything to the contrary
herein, no Defaulting Lender shall have any right to approve or disapprove any amendment, waiver or consent hereunder, except that (x) the Commitment of such Lender may not be increased or extended without the consent of such Lender and
(y) any waiver, amendment or modification requiring the consent of all Lenders or each affected Lender that by its terms affects any Defaulting Lender more adversely than other affected Lenders shall require the consent of such Defaulting
Lender. 
 Notwithstanding anything in this Agreement to the contrary, each Lender hereby irrevocably authorizes the Administrative Agent on
its behalf, and without further consent, to enter into amendments or modifications to this Agreement (including, without limitation, amendments to this Subsection 9.6) or any of the other Loan Documents or to enter into additional Loan
Documents as the Administrative Agent reasonably deems appropriate in order to effectuate the terms of Subsection 2.10; provided that no amendment or modification shall result in any increase in the amount of any Lender’s
Commitment or any increase in any Lender’s Pro Rata Share, in each case, without the written consent of such affected Lender. 
 9.7
Independence of Covenants. 
 All covenants hereunder shall be given independent effect so that if a particular action or
condition is not permitted by any of such covenants, the fact that it would be permitted by an exception to another covenant shall not avoid the occurrence of an Event of Default or Potential Event of Default if such action is taken or condition
exists. 
 9.8 Notices; Effectiveness of Signatures; Posting on Electronic Delivery Systems. 

A. Notices. Unless otherwise specifically provided herein, any notice or other communication herein required or permitted to be given
shall be in writing and may be personally served or sent by United States mail or courier service and shall be deemed to have been given when delivered in person or by courier service, or three (3) Business Days after depositing it in the
United States mail with postage prepaid and properly addressed; provided that notices to the Borrower, the Administrative Agent and the Swing Line Lender and notices to any Lender under Section 2 shall not be effective until
received. For the purposes hereof, the 

  
 93 

 
address of the Borrower, the Administrative Agent and the Swing Line Lender shall be as set forth on Schedule 9.8 and the address of each other Lender shall be as set forth on its
Administrative Questionnaire or (i) as to the Borrower and the Administrative Agent, such other address as shall be designated by such Person in a written notice delivered to the other parties hereto and (ii) as to each other party, such
other address as shall be designated by such party in a written notice delivered to the Administrative Agent. Electronic mail and Internet and intranet websites may be used to distribute routine communications, such as financial statements and other
information as provided in Subsection 5.1, and Notices of Borrowing and Notices of Conversion/Continuation. The Administrative Agent or the Borrower may, in its discretion, agree to accept notices and other communications to it hereunder by
electronic communications pursuant to procedures approved by it, provided that approval of such procedures may be limited to particular notices or communications. 

B. Effectiveness of Signatures. Loan Documents and notices under the Loan Documents may be transmitted and/or signed by telefacsimile
and by signatures delivered in ‘PDF’ format by electronic mail. The effectiveness of any such documents and signatures shall, subject to applicable law, have the same force and effect as an original copy with manual signatures and shall be
binding on the Borrower, the Administrative Agent and the Lenders. The Administrative Agent may also require that any such documents and signature be confirmed by a manually-signed copy thereof; provided, however, that the failure to
request or deliver any such manually-signed copy shall not affect the effectiveness of any facsimile document or signature. 
 C. Posting
on Electronic Delivery Systems. The Borrower acknowledges and agrees that (I) the Administrative Agent may make any material delivered by the Borrower to the Administrative Agent, as well as any amendments, waivers, consents, and other
written information, documents, instruments and other materials relating to the Borrower, any of its Subsidiaries, or any other materials or matters relating to this Agreement, the Notes or any of the transactions contemplated hereby (collectively,
the “Communications”), available to the Lenders by posting such notices on an electronic delivery system (which may be provided by the Administrative Agent, an Affiliate of Administrative Agent, or any Person that is not an
Affiliate of the Administrative Agent), such as IntraLinks, or a substantially similar electronic system (the “Platform”) and (II) certain of the Lenders may be “public-side” Lenders (i.e., Lenders that do not wish to
receive material non-public information with respect to the Borrower or its securities) (each, a “Public Lender”). The Borrower acknowledges that (i) the distribution of material through an electronic medium is not necessarily
secure and that there are confidentiality and other risks associated with such distribution; (ii) the Platform is provided “as is” and “as available” and (iii) neither the Administrative Agent nor any of its Affiliates
warrants the accuracy, completeness, timeliness, sufficiency, or sequencing of the Communications posted on the Platform. The Administrative Agent and its Affiliates expressly disclaim with respect to the Platform any liability for errors in
transmission, incorrect or incomplete downloading, delays in posting or delivery, or problems accessing the Communications posted on the Platform and any liability for any losses, costs, expenses or liabilities that may be suffered or incurred in
connection with the Platform. 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 Administrative Agent or any of its Affiliates in connection with the Platform. 

  
 94 

 The Borrower hereby agrees that (w) all Communications that are to be made available to
Public Lenders shall be clearly and conspicuously marked “PUBLIC” which, at a minimum, shall mean that the word “PUBLIC” shall appear prominently on the first page thereof; (x) by marking Communications “PUBLIC”,
the Borrower shall be deemed to have authorized Administrative Agent and the Lenders to treat such Communications as not containing any material non-public information with respect to the Borrower or its securities for purposes of United States
Federal and state securities laws (provided, however, that to the extent such Communications constitute confidential information pursuant to Subsection 9.18, they shall be treated as set forth in such subsection); (y) all Communications
marked “PUBLIC” are permitted to be made available through a portion of the Platform designated “Public Investor”; and (z) Administrative Agent shall be entitled to treat any Communications that are not marked
“PUBLIC” as being suitable only for posting on a portion of the Platform not designated “Public Investor”. Each Lender which is a Public Lender agrees that any failure of the Borrower to provide it with a Communication which, as
set forth above, is not suitable for Public Lenders shall not be a breach of any requirement in this Agreement or any other Loan Document to provide such Communication to all of the Lenders. 

Each Lender agrees that notice to it (as provided in the next sentence) (a “Notice”) specifying that any Communication has
been posted to the Platform shall for purposes of this Agreement constitute effective delivery to such Lender of such information, documents or other materials comprising such Communication. Each Lender agrees (i) to notify, on or before the
date such Lender becomes a party to this Agreement (pursuant to an Administrative Questionnaire or otherwise), the Administrative Agent in writing of such Lender’s e-mail address to which a Notice may be sent (and from time to time thereafter
to ensure that the Administrative Agent has on record an effective e-mail address for such Lender) and (ii) that any Notice may be sent to such e-mail address. Notwithstanding the foregoing, (x) the Borrower shall not be responsible for
any failure of the Platform or for the inability of any Lender to access any Communication made available by the Borrower to the Administrative Agent in connection with the Platform and in no event shall any such failure constitute an Event of
Default hereunder and (y) notices to any Lender pursuant to Section 2 shall not be provided by means other than hard copy or telecopy if such Lender notifies Administrative Agent that it is not capable of receiving such notices by
such other means. 
 9.9 Survival of Representations, Warranties and Agreements. 

A. All representations, warranties and agreements made herein shall survive the execution and delivery of this Agreement and the making
of the Loans hereunder. 
 B. Notwithstanding anything in this Agreement or implied by law to the contrary, the agreements of the
Borrower set forth in Subsections 2.6D, 2.7, 9.2, 9.3, 9.16 and 9.17 and the agreements of Lenders set forth in Subsections 8.2C, 8.4, 9.5 and 9.17 shall survive the payment of
the Obligations, and the termination of this Agreement. 
 9.10 Failure or Indulgence Not Waiver; Remedies Cumulative. 

No failure or delay on the part of an Agent or any Lender in the exercise of any power, right or privilege hereunder or under any other Loan
Document shall impair such power, 

  
 95 

 
right or privilege or be construed to be a waiver of any default or acquiescence therein, nor shall any single or partial exercise of any such power, right or privilege preclude other or further
exercise thereof or of any other power, right or privilege. All rights and remedies existing under this Agreement and the other Loan Documents are cumulative to, and not exclusive of, any rights or remedies otherwise available. 

9.11 Payments Set Aside. 

To the extent that the Borrower makes a payment or payments to the Administrative Agent or the Lenders (or to the Administrative Agent for the
benefit of the Lenders), or the Administrative Agent or the Lenders exercise their rights of setoff, and such payment or payments or the proceeds of such setoff or any part thereof are subsequently invalidated, declared to be fraudulent or
preferential, set aside and/or required to be repaid to a trustee, receiver or any other party under any bankruptcy law, any other state or federal law, common law or any equitable cause, then, to the extent of such recovery, the obligation or part
thereof originally intended to be satisfied, and all Liens, rights and remedies therefor or related thereto, shall be revived and continued in full force and effect as if such payment or payments had not been made or such setoff had not occurred.

 9.12 Severability. 

In case any provision in or obligation under this Agreement or the Notes shall be invalid, illegal or unenforceable in any jurisdiction, the
validity, legality and enforceability of the remaining provisions or obligations, or of such provision or obligation in any other jurisdiction, shall not in any way be affected or impaired thereby. 

9.13 Obligations Several; Independent Nature of Lenders’ Rights; Damage Waiver. 

The obligations of the Lenders hereunder are several and no Lender shall be responsible for the obligations or Commitments of any other Lender
hereunder. Nothing contained herein or in any other Loan Document, and no action taken by the Lenders pursuant hereto or thereto, shall be deemed to constitute the Lenders, or the Lenders and the Borrower, as a partnership, an association, a joint
venture or any other kind of entity. The amounts payable at any time hereunder to each Lender shall be a separate and independent debt, and, subject to Subsection 8.6, each Lender shall be entitled to protect and enforce its rights arising
out of this Agreement and it shall not be necessary for any other Lender to be joined as an additional party in any proceeding for such purpose. 

To the extent permitted by law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of
liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with or as a result of this Agreement (including, without limitation, Subsection 2.1C hereof), any
other Loan Document, any transaction contemplated by the Loan Documents, any Loan or the use of proceeds thereof. No Indemnitee shall be liable for any damages arising from the use by unintended recipients of any information or other materials
distributed by it through telecommunications, electronic or other information transmission systems in connection with the Loan Documents or the transactions contemplated thereby. 

  
 96 

 9.14 Applicable Law. 

THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS (EXCEPT AS OTHERWISE EXPRESSLY SET FORTH IN ANY SUCH LOAN DOCUMENT), AND THE RIGHTS AND
OBLIGATIONS OF THE PARTIES HEREUNDER AND THEREUNDER SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF ILLINOIS, WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES THAT WOULD REQUIRE
APPLICATION OF ANOTHER LAW. 
 9.15 Construction of Agreement; Nature of Relationship. 

The Borrower acknowledges that (i) it has been represented by counsel in the negotiation and documentation of the terms of this
Agreement, (ii) it has had full and fair opportunity to review and revise the terms of this Agreement, (iii) this Agreement has been drafted jointly by the parties hereto, and (iv) neither the Administrative Agent nor any Lender or
other Agent has any fiduciary relationship with or duty to the Borrower arising out of or in connection with this Agreement or any of the other Loan Documents, and the relationship between the Administrative Agent and the Lenders, on one hand, and
the Borrower, on the other hand, in connection herewith or therewith is solely that of debtor and creditor. Accordingly, each of the parties hereto acknowledges and agrees that the terms of this Agreement shall not be construed against or in favor
of another party. 
 9.16 Consent to Jurisdiction and Service of Process. 

ALL JUDICIAL PROCEEDINGS BROUGHT AGAINST THE BORROWER ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT, OR ANY
OBLIGATIONS HEREUNDER AND THEREUNDER, MAY BE BROUGHT IN ANY STATE OR FEDERAL COURT OF COMPETENT JURISDICTION IN COOK COUNTY IN THE STATE OF ILLINOIS. BY EXECUTING AND DELIVERING THIS AGREEMENT, THE BORROWER, FOR ITSELF AND IN CONNECTION WITH ITS
PROPERTIES, IRREVOCABLY: 
 (I) ACCEPTS GENERALLY AND UNCONDITIONALLY THE NONEXCLUSIVE JURISDICTION AND VENUE OF SUCH
COURTS; 
 (II) WAIVES ANY DEFENSE OF FORUM NON CONVENIENS; 

(III) AGREES THAT THE LENDERS RETAIN THE RIGHT TO SERVE PROCESS IN ANY MANNER PERMITTED BY APPLICABLE LAW OR TO BRING
PROCEEDINGS AGAINST THE BORROWER IN THE COURTS OF ANY OTHER JURISDICTION; AND 
 (IV) AGREES THAT THE PROVISIONS OF
THIS SUBSECTION 9.16 RELATING TO JURISDICTION AND VENUE SHALL BE BINDING AND ENFORCEABLE TO THE FULLEST EXTENT PERMISSIBLE UNDER ILLINOIS LAW. 

  
 97 

 9.17 Waiver of Jury Trial. 

EACH OF THE PARTIES TO THIS AGREEMENT HEREBY AGREES TO WAIVE ITS RESPECTIVE RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED
UPON OR ARISING OUT OF THIS AGREEMENT OR ANY OF THE OTHER LOAN DOCUMENTS OR ANY DEALINGS BETWEEN THEM RELATING TO THE SUBJECT MATTER OF THIS LOAN TRANSACTION OR THE LENDER/BORROWER RELATIONSHIP THAT IS BEING ESTABLISHED. The scope of this waiver
is intended to be all-encompassing of any and all disputes that may be filed in any court and that relate to the subject matter of this transaction, including contract claims, tort claims, breach of duty claims and all other common law and statutory
claims. Each party hereto acknowledges that this waiver is a material inducement to enter into a business relationship, that each has already relied on this waiver in entering into this Agreement, and that each will continue to rely on this waiver
in their related future dealings. Each party hereto further warrants and represents that it has reviewed this waiver with its legal counsel and that it knowingly and voluntarily waives its jury trial rights following consultation with legal counsel.
THIS WAIVER IS IRREVOCABLE, MEANING THAT IT MAY NOT BE MODIFIED EITHER ORALLY OR IN WRITING (OTHER THAN BY A MUTUAL WRITTEN WAIVER SPECIFICALLY REFERRING TO THIS SUBSECTION 9.17 AND EXECUTED BY EACH OF THE PARTIES HERETO), AND THIS WAIVER
SHALL APPLY TO ANY SUBSEQUENT AMENDMENTS, RENEWALS, SUPPLEMENTS OR MODIFICATIONS TO THIS AGREEMENT OR ANY OF THE OTHER LOAN DOCUMENTS OR TO ANY OTHER DOCUMENTS OR AGREEMENTS RELATING TO THE LOANS MADE HEREUNDER. In the event of litigation, this
Agreement may be filed as a written consent to a trial by the court. 
 9.18 Confidentiality. 

The Administrative Agent, the Swing Line Lender and each Lender shall maintain the confidentiality of all non-public information obtained
pursuant to the requirements of this Agreement and hold all such information in accordance with such Person’s customary procedures for handling confidential information of this nature and in accordance with the safe and sound commercial lending
or investment practices maintained in comparable transactions, it being understood and agreed by the Borrower that in any event any such Person may make disclosures (a) to its and its Affiliates’ directors, officers, employees and agents,
including accountants, and legal counsel and other advisors (it being understood that the Persons to whom such disclosure is made will be informed of the confidential nature of such information and instructed to keep such information confidential,
(b) to the extent requested by any Government Authority, (c) to the extent required by applicable laws or regulations or by any subpoena or similar legal process, (d) to any other party to this Agreement, (e) in connection with
the exercise of any remedies hereunder or any suit, action or proceeding relating to this Agreement or the enforcement of rights hereunder, (f) subject to an agreement containing provisions substantially the same as those of this Subsection
9.18, to (i) any pledgee under Subsection 9.1, any Eligible Assignee of or participant in, or any prospective Eligible Assignee of or Participant in, any of its 

  
 98 

 
rights or obligations under this Agreement or (ii) any direct or indirect contractual counterparty or prospective counterparty (or such contractual counterparty’s or prospective
counterparty’s professional advisor) to any credit derivative transaction relating to obligations of the Borrower, (g) with the consent of the Borrower, (h) to the extent such information (i) becomes publicly available other than
as a result of a breach of this Subsection 9.18 or (ii) becomes available to Administrative Agent, the Swing Line Lender or such Lender on a nonconfidential basis from a source other than the Borrower, (i) to any nationally
recognized rating agency that requires access to information about a Lender’s or its Affiliates’ investment portfolio solely in connection with ratings issued with respect to such Lender or its Affiliates and such rating agency’s
ratings are publicly available and that no written or oral communications from counsel to the Administrative Agent and no information that is or is designated as privileged or as attorney work product may be disclosed to any Person unless such
Person is a Lender or a Participant hereunder; provided that, unless specifically prohibited by applicable law or court order, the Administrative Agent, a Swing Line Lender or a Lender shall notify the Borrower of any requirement or request
under applicable laws or regulations or under any subpoena or similar legal process, including by any Government Authority or representative thereof (other than any such request in connection with any examination of the financial condition of such
Lender by such Government Authority), for disclosure of any such non-public information prior to disclosure of such information; and provided, further that in no event shall the Administrative Agent, such Swing Line Lender or such
Lender be obligated or required to return any materials furnished by the Borrower or any of its Subsidiaries. In addition, subject to obtaining the prior approval of the Borrower (such approval not to be unreasonably withheld or delayed), the
Administrative Agent, the Swing Line Lender and the Lenders may disclose the existence of this Agreement and information about this Agreement to market data collectors, similar service providers to the lending industry, and service providers to
Administrative Agent, the Swing Line Lender and the Lenders, and the Administrative Agent or any of its Affiliates may place customary “tombstone” advertisements relating hereto in publications (including publications circulated in
electronic form) of its choice at its own expense. 
 9.19 Counterparts; Effectiveness. 

This Agreement and any amendments, waivers, consents or supplements hereto or in connection herewith may be executed in any number of
counterparts and by different parties hereto in separate counterparts, each of which when so executed and delivered shall be deemed an original, but all such counterparts together shall constitute but one and the same instrument; signature pages may
be detached from multiple separate counterparts and attached to a single counterpart so that all signature pages are physically attached to the same document. This Agreement shall become effective upon the execution of a counterpart hereof by each
of the parties hereto. 
 The words “execution,” “signed,” “signature,” and words of like import in any
Assignment Agreement shall be deemed to include electronic signatures or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a
paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act,
or any other similar state laws based on the Uniform Electronic Transactions Act. 

  
 99 

 9.20 USA Patriot Act. 

Each Lender hereby notifies the Borrower and that pursuant to the requirements of the Patriot Act, it is required to obtain, verify and record
information that identifies the Borrower, which information includes the name and address of Borrower and other information that will allow such Lender to identify such Borrower in accordance with the Patriot Act. 

9.21 Independent Effect of Covenants. 

The Borrower expressly acknowledges and agrees that each covenant contained in Section 5 or 6 hereof shall be given
independent effect. Accordingly, the Borrower shall not engage in any transaction or other act otherwise permitted under any covenant contained in Section 5 or 6, if before or after giving effect to such transaction or act, the
Borrower shall or would be in breach of any other covenant contained in Section 5 or 6. 
 [Remainder of page
intentionally left blank] 

  
 100 

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

			
	BORROWER:
	
	THE JONES FINANCIAL COMPANIES, L.L.L.P.
		
	By:	 	 /s/ Kevin Bastien

	Name:	 	 Kevin Bastien

	Title:	 	 a General Partner

 
			
	LENDERS:
	
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as the Administrative Agent, Swing Line Lender and a Lender
		
	By:	 	 /s/ Casey P. Kelly

	Name:	 	 Casey P. Kelly

	Title:	 	 Vice President

 
			
	 BANK OF AMERICA, N.A., as the

Syndication Agent and a Lender

		
	By:	 	 /s/ Giovanni Fallone

	Name:	 	 Giovanni Fallone

	Title:	 	 Vice President

 
			
	 FIFTH THIRD BANK, as a Documentation

Agent and a Lender

		
	By:	 	 /s/ Mary Ann Lemonds

	Name:	 	 Mary Ann Lemonds

	Title:	 	 Vice President

 
			
	JPMORGAN CHASE BANK, N.A., as a Documentation Agent and a Lender
		
	By:	 	 /s/ Gabriel Syed

	Name:	 	 Gabriel Syed

	Title:	 	 Vice President

 
			
	 U.S. BANK NATIONAL ASSOCIATION, as

a Documentation Agent and a Lender

		
	By:	 	 /s/ Christopher M. Doering

	Name:	 	 Christopher M. Doering

	Title:	 	 SVP

 
			
	 THE BANK OF NEW YORK MELLON, as

a Lender

		
	By:	 	 /s/ Stephen Manners

	Name:	 	 Stephen Manners

	Title:	 	 Vice President

 
			
	THE NORTHERN TRUST COMPANY, as a Lender
		
	By:	 	 /s/ James R. Shanel

	Name:	 	 James R. Shanel

	Title:	 	 Vice President

 
			
	SUNTRUST BANK, as a Lender
		
	By:	 	 /s/ Douglas O’Bryan

	Name:	 	 Douglas O’Bryan

	Title:	 	 Director

 
			
	BANK OF MONTREAL, as a Lender
		
	By:	 	 /s/ Gary Lipinski

	Name:	 	 Gary Lipinski

	Title:	 	 Director

 
			
	 PNC BANK, NATIONAL ASSOCIATION,

as a Lender

		
	By:	 	 /s/ Alaa Shraim

	Name:	 	 Alaa Shraim

	Title:	 	 Vice President

 
			
	COMMERCE BANK, as a Lender
		
	By:	 	 /s/ Steve O’Neal

	Name:	 	 Steve O’Neal

	Title:	 	 SVP

 
			
	UMB BANK, as a Lender
		
	By:	 	 /s/ Michael Garner

	Name:	 	 Michael Garner

	Title:	 	 Vice President

 EXHIBIT I 

[FORM OF] NOTICE OF BORROWING 

[BORROWER LETTERHEAD] 
 [Date] 

Wells Fargo Bank, National Association, 
   as
Administrative Agent 
 1525 West WT Harris Boulevard 

Charlotte, North Carolina 28262 
 Attention: Diana Horn 

Telephone: (704)-590-2850 
  

	Re:	Amended and Restated Credit Agreement (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”) dated as of November 15, 2013 by and among The Jones
Financial Companies, L.L.L.P., a Missouri limited liability limited partnership (the “Borrower”), the financial institutions from time to time party thereto, as lenders (the “Lenders”) and Wells Fargo Bank, National
Association, as administrative agent (the “Administrative Agent”) 

 Pursuant to Subsection 2.1 of the Credit
Agreement, the Borrower hereby gives notice of its request for a borrowing as follows: 
  

			
	Date of Borrowing:	  	[Date]
	Requested Amount:	  	[Amount]1
	Type of Loan:	  	[Revolving Loans or Swing Line Loan]
	Interest Rate Option:	  	[Base Rate Loan or Eurodollar Rate Loan]
	Interest Period:	  	[For Eurodollar Rate Loan: Duration of Interest Period]
	Maturity Date:	  	[Date if applicable]

 The undersigned Officer, to the best of his or her knowledge, and the Borrower certify that (a) no event
has occurred and is continuing or would result from the consummation of the borrowing contemplated hereby that would constitute an Event of Default or a Potential Event of Default, (b) the aggregate principal amount of all Loans outstanding as
of the date hereof (including the Loan requested herein) does not exceed the maximum amount permitted to be outstanding pursuant to the terms of the Credit Agreement and (c) all of the conditions applicable to the Loan requested herein as set
forth in the Credit Agreement have been satisfied as of the date hereof and will remain satisfied to the date of such Loan. 
  

	1 	Amount requested to be in compliance with requirements set forth in Section 2.1B. 

  

					
		 	Exhibit I-1	 	Notice of Borrowing

 If you have any questions regarding this transaction please contact the undersigned as soon as
possible. 
 Sincerely, 
  

			
	THE JONES FINANCIAL COMPANIES, L.L.L.P.
		
	By:	 	  

		
	Name:	 	  

		
	Title:	 	  

  

					
		 	Exhibit I-2	 	Notice of Borrowing

 EXHIBIT II 

[FORM OF] NOTICE OF CONVERSION/CONTINUATION 

[BORROWER LETTERHEAD] 
 [Date] 

Wells Fargo Bank, National Association, 
   as
Administrative Agent 
 1525 West WT Harris Boulevard 

Charlotte, North Carolina 28262 
 Attention: Diana Horn 

Telephone: (704)-590-2850 
  

	Re:	Amended and Restated Credit Agreement (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”) dated as of November 15, 2013 by and among The Jones
Financial Companies, L.L.L.P., a Missouri limited liability limited partnership (the “Borrower”), the financial institutions from time to time party thereto, as lenders (the “Lenders”) and Wells Fargo Bank, National
Association, as administrative agent (the “Administrative Agent”) 

 Pursuant to Subsection 2.2D of the Credit
Agreement, the Borrower hereby gives notice of its request for a conversion/continuation as follows: 
 Description of outstanding Loan: 

			
	Maturity Date:	  	[Date if applicable]
	Amount:	  	[Amount]
	Type of Loan:	  	[Revolving Loan or Swing Line Loan]

 Description of new Loan(s): 

			
	Date:	  	[Date]1
	Requested Amount:	  	[Amount]
	Type of Request:	  	[Continuation or Conversion]
	Interest Rate Option:	  	[Base Rate Loan or Eurodollar Rate Loan]
	Interest Period:	  	[For Eurodollar Rate Loan: Duration of Interest Period]
	Maturity Date:	  	[Date if applicable]

 In the case of a conversion to or continuation of Eurodollar Rate Loans, the undersigned Officer, to the best of his or her
knowledge, and the Borrower certify that (a) no Event of Default or Potential Event of Default has occurred and is continuing under the Credit Agreement and (b) all of the conditions applicable to the conversion or continuation of the Loan
described herein as set forth in the Credit Agreement have been satisfied or waived as of the date hereof and will remain satisfied or waived to the date of such conversion or continuation. 

 

	1 	Complete with a Business Day in accordance with Section 2.2D. 

  

					
		 	Exhibit II-1	 	Notice of Conversion/Continuation

 If you have any questions regarding this transaction, please contact the undersigned as soon as possible. 

Sincerely, 
  

			
	THE JONES FINANCIAL COMPANIES, L.L.L.P.
		
	By:	 	  

		
	Name:	 	  

		
	Title:	 	  

  

					
		 	Exhibit II-2	 	Notice of Conversion/Continuation

 EXHIBIT III 

[FORM OF] [AMENDED AND RESTATED] REVOLVING NOTE 

THE JONES FINANCIAL COMPANIES, L.L.L.P. 
  

			
	$        1	  	November 15, 2013    

 FOR VALUE RECEIVED, THE JONES FINANCIAL COMPANIES, L.L.L.P., a Missouri limited liability limited partnership
(the “Borrower”), promises to pay to                     2
(“Payee”) or its registered assigns, the lesser of (x)                     3
($[        1]) and (y) the unpaid principal amount of all advances made by Payee to the Borrower as Revolving Loans under the Credit Agreement referred to below. The principal amount of this Note shall be
payable on the dates and in the amounts specified in the Credit Agreement. 
 The Borrower also promises to pay interest on the unpaid
principal amount hereof, until paid in full, at the rates and at the times which shall be determined in accordance with the provisions of that certain Amended and Restated Credit Agreement dated as of November 15, 2013 by and among the
Borrower, the financial institutions from time to time party thereto, as Lenders, and Wells Fargo Bank, National Association, as Administrative Agent (said Credit Agreement, as it may be amended, restated, supplemented or otherwise modified from
time to time, being the “Credit Agreement”, the terms defined therein and not otherwise defined herein being used herein as therein defined). 

This Note is one of the Borrower’s “Revolving Notes” and is issued pursuant to and entitled to the benefits of the Credit
Agreement, to which reference is hereby made for a more complete statement of the terms and conditions under which the Revolving Loans evidenced hereby were made and are to be repaid. 

All payments of principal and interest in respect of this Note shall be made in Dollars in immediately available funds at the Funding and
Payment Office or at such other place as shall be designated in writing for such purpose in accordance with the terms of the Credit Agreement. Unless and until an Assignment Agreement effecting the assignment or transfer of this Note shall have been
consented to by the Borrower (to the extent required under the terms of the Credit Agreement) and accepted by Administrative Agent and recorded in the Register as provided in the Credit Agreement, the Borrower and Administrative Agent shall be
entitled to deem and treat Payee as the owner and holder of this Note and the Loans evidenced hereby. Payee hereby agrees, by its acceptance hereof, that before disposing of this Note or any part hereof it will make a notation hereon of all
principal payments previously made hereunder and of the date to which interest hereon has been paid; provided, however, that the failure to make a notation of any payment made on this Note shall not limit or otherwise affect the obligations of the
Borrower hereunder with respect to payments of principal of or interest on this Note. 
  

	1 	Insert Dollar amount of Lender’s Revolving Loan Commitment in numbers. 

	2 	Insert Lender’s name in capital letters. 

	3 	Insert amount of Lender’s Revolving Loan Commitment in words. 

  

					
		 	Exhibit III-1	 	Revolving Note

 Whenever any payment on this Note shall be stated to be due on a day which is not a Business Day,
such payment shall be made on the next succeeding Business Day and such extension of time shall be included in the computation of the payment of interest on this Note. 

This Note is subject to mandatory prepayment as provided in the Credit Agreement and to prepayment at the option of the Borrower as provided
in the Credit Agreement. 
 THIS NOTE AND THE RIGHTS AND OBLIGATIONS OF THE BORROWER AND PAYEE HEREUNDER SHALL BE GOVERNED BY, AND SHALL
BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF ILLINOIS, WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES THAT WOULD REQUIRE APPLICATION OF ANOTHER LAW. 

Upon the occurrence of an Event of Default, the unpaid balance of the principal amount of this Note, together with all accrued and unpaid
interest thereon, may become, or may be declared to be, due and payable in the manner, upon the conditions and with the effect provided in the Credit Agreement. 

The terms of this Note are subject to amendment only in the manner provided in the Credit Agreement. 

This Note is subject to restrictions on transfer or assignment as provided in the Credit Agreement. 

No reference herein to the Credit Agreement and no provision of this Note or the Credit Agreement shall alter or impair the obligations of the
Borrower, which are absolute and unconditional, to pay the principal of and interest on this Note at the place, at the respective times, and in the currency prescribed herein and in the Credit Agreement. 

The Borrower promises to pay all reasonable costs and expenses, including reasonable and documented attorneys’ fees, all as and to the
extent provided in the Credit Agreement, incurred in the collection and enforcement of this Note. The Borrower and any endorsers of this Note hereby consent to renewals and extensions of time at or after the maturity hereof, without notice, and
hereby waive diligence, presentment, protest and, except as set forth in the Credit Agreement, demand and notice of every kind and, to the full extent permitted by law, the right to plead any statute of limitations as a defense to any demand
hereunder. 
 This Note, in addition to evidencing the Obligations under the Credit Agreement, also amends, restates, reevidences and is
issued in substitution for the “Revolving Notes” under, and as defined in the Existing Credit Agreement (the “Existing Notes”). Execution and delivery of this Note and any document executed pursuant hereto are not intended
to and should not be construed (i) to deem to have repaid or otherwise discharged any amount of principal of or interest on the Existing Notes, or (ii) to effect a novation or otherwise to release the obligations of the Borrower under or
extinguish the debt evidenced by the Existing Notes. 
 [Remainder of page intentionally left blank.] 

  

					
		 	Exhibit III-2	 	Revolving Note

 IN WITNESS WHEREOF, the Borrower has caused this Note to be duly executed and delivered by its
officer thereunto duly authorized as of the date and at the place first written above. 
  

			
	THE JONES FINANCIAL COMPANIES, L.L.L.P.
		
	By:	 	  

		
	Name:	 	  

		
	Title:	 	  

  

					
		 	Exhibit III-3	 	Revolving Note

 TRANSACTIONS 

ON 
 REVOLVING NOTE

  

											
	 Date
	  	Type of
Loan Made
This Date	  	Amount of
Loan Made
This Date	  	Amount of
Principal Paid
This Date	  	Outstanding
Principal
Balance
This Date	  	Notation
Made By
		  		  		  		  		  	
		  		  		  		  		  	
		  		  		  		  		  	

  

					
		 	Exhibit III-4	 	Revolving Note

 EXHIBIT IV 

[FORM OF] AMENDED AND RESTATED SWING LINE NOTE 

THE JONES FINANCIAL COMPANIES, L.L.L.P. 
  

			
	$150,000,000.00	  	November 15, 2013    

 FOR VALUE RECEIVED, THE JONES FINANCIAL COMPANIES, L.L.L.P., a Missouri limited liability limited partnership
(the “Borrower”), promises to pay to WELLS FARGO BANK, NATIONAL ASSOCIATION, as Swing Line Lender (“Payee”) or its registered assigns, the lesser of (x) ONE HUNDRED FIFTY MILLION AND NO/100 DOLLARS
($150,000,000.00) and (y) the unpaid principal amount of all advances made by Payee in its capacity as Swing Line Lender to the Borrower as Swing Line Loans under the Credit Agreement referred to below. The principal amount of this Note shall
be payable on the dates and in the amounts specified in the Credit Agreement. 
 The Borrower also promises to pay interest on the unpaid
principal amount hereof, until paid in full, at the rates and at the times which shall be determined in accordance with the provisions of that certain Amended and Restated Credit Agreement dated as of November 15, 2013 by and among the
Borrower, the financial institutions from time to time party thereto, as Lenders, and Wells Fargo Bank, National Association, as Administrative Agent (said Credit Agreement, as it may be amended, restated, supplemented or otherwise modified from
time to time, being the “Credit Agreement”, the terms defined therein and not otherwise defined herein being used herein as therein defined). 

This Note is the Borrower’s “Swing Line Note” and is issued pursuant to and entitled to the benefits of the Credit Agreement,
to which reference is hereby made for a more complete statement of the terms and conditions under which the Swing Line Loans evidenced hereby were made and are to be repaid. 

All payments of principal and interest in respect of this Note shall be made in Dollars in immediately available funds at the Funding and
Payment Office or at such other place as shall be designated in writing for such purpose in accordance with the terms of the Credit Agreement. 

Whenever any payment on this Note shall be stated to be due on a day which is not a Business Day, such payment shall be made on the next
succeeding Business Day and such extension of time shall be included in the computation of the payment of interest on this Note. 
 This
Note is subject to mandatory prepayment as provided in the Credit Agreement and to prepayment at the option of the Borrower as provided in the Credit Agreement. 

THIS NOTE AND THE RIGHTS AND OBLIGATIONS OF THE BORROWER AND PAYEE HEREUNDER SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN
ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF ILLINOIS, WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES THAT WOULD REQUIRE APPLICATION OF ANOTHER LAW. 

Upon the occurrence of an Event of Default, the unpaid balance of the principal amount of this Note, together with all accrued and unpaid
interest thereon, may become, or may be declared to be, due and payable in the manner, upon the conditions and with the effect provided in the Credit Agreement. 

  

					
		 	Exhibit IV-1	 	Swing Line Note

 The terms of this Note are subject to amendment only in the manner provided in the Credit
Agreement. 
 This Note is subject to restrictions on transfer or assignment as provided in the Credit Agreement. 

No reference herein to the Credit Agreement and no provision of this Note or the Credit Agreement shall alter or impair the obligations of the
Borrower, which are absolute and unconditional, to pay the principal of and interest on this Note at the place, at the respective times, and in the currency prescribed herein and in the Credit Agreement. 

The Borrower promises to pay all reasonable costs and expenses, including reasonable and documented attorneys’ fees, all as and to the
extent provided in the Credit Agreement, incurred in the collection and enforcement of this Note. The Borrower and any endorsers of this Note hereby consent to renewals and extensions of time at or after the maturity hereof, without notice, and
hereby waive diligence, presentment, protest and, except as set forth in the Credit Agreement, demand and notice of every kind and, to the full extent permitted by law, the right to plead any statute of limitations as a defense to any demand
hereunder. 
 This Note, in addition to evidencing the Obligations under the Credit Agreement, also amends, restates, reevidences and is
issued in substitution for the “Swing Line Notes” under, and as defined in the Existing Credit Agreement (the “Existing Notes”). Execution and delivery of this Note and any document executed pursuant hereto are not
intended to and should not be construed (i) to deem to have repaid or otherwise discharged any amount of principal of or interest on the Existing Notes, or (ii) to effect a novation or otherwise to release the obligations of the Borrower
under or extinguish the debt evidenced by the Existing Notes 
 [Remainder of page intentionally left blank.] 

  

					
		 	Exhibit IV-2	 	Swing Line Note

 IN WITNESS WHEREOF, the Borrower has caused this Note to be duly executed and delivered by its
officer thereunto duly authorized as of the date and at the place first written above. 
  

			
	THE JONES FINANCIAL COMPANIES, L.L.L.P.
		
	By:	 	  

		
	Name:	 	  

		
	Title:	 	  

  

					
		 	Exhibit IV-3	 	Swing Line Note

 TRANSACTIONS 

ON 
 SWING LINE NOTE

  

											
	 Date
	  	Amount of
Loan Made
This Date	  	Amount of
Principal Paid
This Date	  	Amount of
Principal Paid
This Date	  	Outstanding
Principal
Balance
This Date	  	Notation
Made By
		  		  		  		  		  	
		  		  		  		  		  	
		  		  		  		  		  	

  

					
		 	Exhibit IV-4	 	Swing Line Note

 EXHIBIT V 

[FORM OF] COMPLIANCE CERTIFICATE 

THE UNDERSIGNED HEREBY CERTIFY THAT: 

(1) I am the duly elected [Title] of The Jones Financial Companies, L.L.L.P., a Missouri limited liability limited partnership (the
“Borrower”); 
 (2) I have reviewed the terms of that certain Amended and Restated Credit Agreement dated as of
November 15, 2013, (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”, the terms defined therein and not otherwise defined in this Certificate (including Attachment No. 1
annexed hereto and made a part hereof) being used in this Certificate as therein defined), by and among the Borrower, the financial institutions from time to time party thereto, as Lenders, and Wells Fargo Bank, National Association, as
Administrative Agent, and I have made, or have caused to be made under my supervision, a review in reasonable detail of the transactions and condition of the Borrower and its Subsidiaries during the accounting period covered by the attached
financial statements; 
 (3) The examination described in paragraph (2) above did not disclose, and I have no knowledge of, the
existence of any condition or event which constitutes an Event of Default or Potential Event of Default during or at the end of the accounting period covered by the attached financial statements or as of the date of this Certificate [, except as set
forth below]. 
 [Set forth [below] [in a separate attachment to this Certificate] are all exceptions to paragraph (3) above listing,
in detail, the nature of the condition or event, the period during which it has existed and the action which the Borrower has taken, is taking, or proposes to take with respect to each such condition or event: 

                       
                 ] 
 (4) The Borrower and its
Subsidiaries are in compliance with each of the financial covenants contained in Subsection 6.6 of the Credit Agreement as shown on Attachment No. 1 annexed hereto. 

The foregoing certifications, together with the computations set forth in Attachment No. 1 annexed hereto and made a part hereof and the
financial statements delivered with this Certificate in support hereof, are made and delivered this      day of             ,
         pursuant to Subsection 5.1(iv) of the Credit Agreement. 

  

					
		 	Exhibit V-1	 	

 
			
	THE JONES FINANCIAL COMPANIES, L.L.L.P.
		
	By:	 	  

		
	Name:	 	  

		
	Title:	 	  

  

					
		 	Exhibit V-2	 	

 ATTACHMENT NO. 1 

TO COMPLIANCE CERTIFICATE 
 This
Attachment No. 1 is attached to and made a part of a Compliance Certificate dated as of             ,          and pertains to the period from
            ,          to             ,         .
Subsection references herein relate to Subsections of the Credit Agreement. 
  

											
	 A.
	  	Leverage Ratio (as of             ,         )	  			
		  	1.	  	Consolidated Total Debt:	  			
		  		  	a.	  	Aggregate stated balance sheet amount of all Indebtedness of the Borrower and its Subsidiaries	  	$	            	  
				
		  	2.	  	Total Capitalization:	  			
		  		  	a.	  	Borrower’s Partnership Capital	  	$	            	  
		  		  	b.	  	Consolidated Total Debt (Line 1.a. above)	  	$	            	  
		  		  	c.	  	Total Capitalization (Line 2.a. + Line 2.b.)	  	$	            	  
				
		  	3.	  	Leverage Ratio (Line 1.a.):(Line 2.c):	  	 	    	% 
		  	4.	  	Maximum: Not to exceed 35%	  			
				
		  		  	Compliance (Yes/No)	  			
			
	 B.
	  	Minimum Partnership Capital (as of             ,         )	  			
		  	1.	  	Borrower’s Partnership Capital:	  	$	            	  
		  	2.	  	Minimum permitted under Subsection 6.6B:	  			
		  		  	a.	  	Issuances of partnership interests during such Fiscal Quarter	  			
		  		  	b.	  	Redemption of partnership interests during such Fiscal Quarter	  			
		  		  	c.	  	Change in Partnership Capital (Line 2.a – Line 2.b) (amount shall be $0.00 if difference is negative)	  	$	            	  
		  		  	d.	  	50% of amount set forth in Line 2.c.	  	$	            	  
					
		  		  	e.	  	Minimum Partnership Capital	  			
		  		  	(Line 2.d. + $[        ]1)	  	$	            	  
				
		  		  	Compliance (Yes/No)	  			
			
	 C.
	  	Applicable Margin	  			
		  	1.	  	Leverage Ratio	  			
		  	2.	  	Pricing Level	  			

  

	1 	To be $1,542,526,500 for the first Fiscal Quarter and for each Fiscal Quarter thereafter, to be the Minimum Partnership Capital as of the last Fiscal Quarter. 

  

					
		 	Exhibit V-3	 	

 EXHIBIT VI 

[FORM OF] ASSIGNMENT AND ASSUMPTION AGREEMENT 

This Assignment and Assumption Agreement (the “Assignment”) is dated as of the Effective Date set forth below and is
entered into by and between [Insert name of Assignor] (the “Assignor”) and [Insert name of Assignee] (the “Assignee”). Capitalized terms used but not defined herein shall have the
meanings given to them in the Amended and Restated Credit Agreement identified below (as amended, restated, supplemented or otherwise modified, the “Credit Agreement”), receipt of a copy of which is hereby acknowledged by the
Assignee. The Standard Terms and Conditions set forth in Annex 1 attached hereto are hereby agreed to and incorporated herein by reference and made a part of this Assignment as if set forth herein in full. 

For an agreed consideration, the Assignor hereby irrevocably sells and assigns to the Assignee, and the Assignee hereby irrevocably purchases
and assumes from the Assignor, subject to and in accordance with the Standard Terms and Conditions and the Credit Agreement, as of the Effective Date inserted by Administrative Agent as contemplated below, the interest in and to all of the
Assignor’s rights and obligations under the Credit Agreement and any other documents or instruments delivered pursuant thereto that represents the amount and percentage interest identified below of all of the Assignor’s outstanding rights
and obligations under the respective facilities identified below (including, to the extent included in any such facilities, letters of credit and swing line loans) (the “Assigned Interest”). Such sale and assignment is
without recourse to the Assignor and, except as expressly provided in this Assignment, without representation or warranty by the Assignor. 

1. Assignor:
                                         

2. Assignee:
                                         [and is
an Affiliate/Approved Fund7] 
 3. The Borrower: The Jones Financial Companies,
L.L.L.P., a Missouri limited liability limited partnership 
 4. Administrative Agent: Wells Fargo Bank, National Association, as
administrative agent under the Credit Agreement 
 5. Credit Agreement: The Amended and Restated Credit Agreement dated as of
November 15, 2013 among the Borrower, the Lenders party thereto, Wells Fargo Bank, National Association, as Administrative Agent, and the other agents parties thereto, as amended, restated, supplemented or otherwise modified from time to time.

  

	7 	Select as applicable. 

  

					
		 	Exhibit VI-1	 	

 6. Assigned Interest: 
  

													
	 Facility Assigned
	  	Aggregate Amount of
Commitment/Loans for
all Lenders	 	  	Amount of
Commitment/Loans
Assigned	 	  	Percentage Assigned of
Commitment/Loans8	 
	 Revolving Loan Commitment
	  	$	            	  	  	$	            	  	  	 	            	% 

 Effective Date:             
        , 20     [TO BE INSERTED BY ADMINISTRATIVE AGENT AND WHICH SHALL BE THE EFFECTIVE DATE OF RECORDATION OF TRANSFER IN THE REGISTER THEREFOR.] 

The terms set forth in this Assignment are hereby agreed to: 

 

			
	ASSIGNOR
	[NAME OF ASSIGNOR]
		
	By:	 	  

		 	Title:
	
	ASSIGNEE
	[NAME OF ASSIGNEE]
		
	By:	 	  

		 	Title:

 Consented to and Accepted: 
  

			
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as Administrative Agent
		
	By:	 	  

		 	Title:

 [Consented to:] 
  

			
	THE JONES FINANCIAL COMPANIES, L.L.L.P., as Borrower
		
	By:	 	  

		 	Title:

  

	8 	Set forth, to at least 9 decimals, as a percentage of the Commitment/Loans of all Lenders thereunder. 

  

					
		 	Exhibit VI-2	 	

 ANNEX 1 

THE JONES FINANCIAL COMPANIES, L.L.L.P. 

STANDARD TERMS AND CONDITIONS FOR ASSIGNMENT 

AND ASSUMPTION AGREEMENT 
 1.
Representations and Warranties. 
 1.1 Assignor. The Assignor (a) represents and warrants that (i) it is the legal
and beneficial owner of the Assigned Interest, (ii) the Assigned Interest is free and clear of any lien, encumbrance or other adverse claim and (iii) it has full power and authority, and has taken all action necessary, to execute and
deliver this Assignment and to consummate the transactions contemplated hereby; and (b) assumes no responsibility with respect to (i) any statements, warranties or representations made in or in connection with any Loan Document,
(ii) the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Credit Agreement or any other instrument or document delivered pursuant thereto, other than this Assignment (herein collectively the
“Loan Documents”), or any collateral thereunder, (iii) the financial condition of the Borrower, any of its Subsidiaries or Affiliates or any other Person obligated in respect of any Loan Document or (iv) the
performance or observance by the Borrower, any of its Subsidiaries or Affiliates or any other Person of any of their respective obligations under any Loan Document. 

1.2 Assignee. The Assignee (a) represents and warrants that (i) it has full power and authority, and has taken all action
necessary, to execute and deliver this Assignment and to consummate the transactions contemplated hereby and to become a Lender under the Credit Agreement, (ii) it meets all requirements of an Eligible Assignee under the Credit Agreement,
(iii) from and after the Effective Date, it shall be bound by the provisions of the Credit Agreement and, to the extent of the Assigned Interest, shall have the obligations of a Lender thereunder, (iv) it has received a copy of the Credit
Agreement, together with copies of the most recent financial statements delivered pursuant to Subsection 5.1 thereof, as applicable, 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 to purchase the Assigned Interest on the basis of which it has made such analysis and decision, and (v) if it is a Non-US Lender, attached to the Assignment is any documentation required to be
delivered by it pursuant to the terms of the Credit Agreement, duly completed and executed by the Assignee; and (b) agrees that (i) it will, independently and without reliance on Administrative Agent, the Assignor 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 Loan Documents, and (ii) it will perform in accordance with their terms all of
the obligations which by the terms of the Loan Documents are required to be performed by it as a Lender. 
 2. Payments. From and
after the Effective Date, Administrative Agent shall make all payments in respect of the Assigned Interest (including payments of principal, interest, fees and other amounts) to the Assignor for amounts which have accrued to but excluding the
Effective Date and to the Assignee for amounts which have accrued from and after the Effective Date. 

  

					
		 	Exhibit VI-3	 	

 3. General Provisions. This Assignment shall be binding upon, and inure to the benefit of,
the parties hereto and their respective successors and assigns. This Assignment may be executed in any number of counterparts, which together shall constitute one instrument. Delivery of an executed counterpart of a signature page of this Assignment
by telecopy shall be effective as delivery of a manually executed counterpart of this Assignment. THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH,
THE INTERNAL LAWS OF THE STATE OF ILLINOIS, WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES. 

  

					
		 	Exhibit VI-4	 	

 Schedule 2.1 

Lenders’ Commitments and Pro Rata Shares 
  

									
	 Lender
	  	Revolving
Loan Commitment	 	  	Pro Rata Share	 
	 Wells Fargo Bank, National Association
	  	$	65,000,000	  	  	 	16.25	% 
	 Bank of America, N.A.
	  	$	65,000,000	  	  	 	16.25	% 
	 Fifth Third Bank
	  	$	40,000,000	  	  	 	10.00	% 
	 JPMorgan Chase Bank, N.A.
	  	$	40,000,000	  	  	 	10.00	% 
	 U.S. Bank National Association
	  	$	40,000,000	  	  	 	10.00	% 
	 The Bank of New York Mellon
	  	$	30,000,000	  	  	 	7.50	% 
	 The Northern Trust Company
	  	$	30,000,000	  	  	 	7.50	% 
	 SunTrust Bank
	  	$	30,000,000	  	  	 	7.50	% 
	 Bank of Montreal
	  	$	20,000,000	  	  	 	5.00	% 
	 PNC Bank, National Association
	  	$	20,000,000	  	  	 	5.00	% 
	 Commerce Bank
	  	$	10,000,000	  	  	 	2.50	% 
	 UMB Bank
	  	$	10,000,000	  	  	 	2.50	% 
		  	  
	  
	 	  	  
	  
	 
			
	 TOTALS
	  	$	400,000,000	  	  	 	100.00	% 
		  	  
	  
	 	  	  
	  
	 

 Schedule 4.1 – Subsidiaries 

THE JONES FINANCIAL COMPANIES, L.L.L.P. 
 (Missouri Limited
Liability Limited Partnership) 
  

							
	 Name of Entity
	  	 Jurisdiction of

Formation or Incorporation
	  	Ownership %	 
			
	 Direct Subsidiaries:
	  		  			
			
	 Edward D. Jones & Co., L.P.
	  	Missouri Limited Partnership	  	 	99	% 
			
	 EDJ Leasing Co., L.P.
	  	Missouri Limited Partnership	  	 	99	% 
			
	 LHC, Inc.
	  	Missouri Corporation	  	 	100	% 
			
	 Edward Jones Trust Company
	  	Federal Chartered Savings & Loan Association	  	 	100	% 
			
	 EDJ Holding Company, Inc.
	  	Missouri Corporation	  	 	100	% 
			
	 Olive Street Investment Advisers, LLC
	  	Missouri Corporation	  	 	100	% 

 Schedule 4.1 – Subsidiaries 

EDWARD D. JONES & CO., L.P. 
 (Missouri Limited
Partnership) 
  

							
	 Name of Entity
	  	 Jurisdiction of

Formation or Incorporation
	  	Ownership %	 
			
	 Direct Subsidiaries:
	  		  			
			
	 Edward D. Jones & Co. Canada Holding Co., Inc.
	  	Canadian Corporation	  	 	100	% 
			
	 EJ Mortgage, L.L.C.
	  	Missouri Limited Liability Company	  	 	100	% 
			
	 Conestoga Securities, Inc.
	  	Missouri Corporation	  	 	100	% 
			
	 California Agency Holding, LLC
	  	Missouri Limited Liability Company	  	 	100	% 
			
	 Edward Jones Insurance Agency of New Mexico, L.L.C.
	  	New Mexico Limited Liability Company	  	 	100	% 
			
	 Edward Jones Insurance Agency Holding, L.L.C.
	  	Missouri Limited Liability Company	  	 	100	% 
			
	 Edward Jones Insurance Agency of Massachusetts, L.L.C.
	  	Massachusetts Limited Liability Company	  	 	99	% 
			
	 Edward Jones
	  	Ontario Limited Partnership	  	 	99	% 
			
	 EDJ Ventures Ltd., L.P.
	  	Missouri Limited Partnership	  	 	99	% 
			
	 Indirect Subsidiaries:
	  		  			
			
	 Edward Jones Insurance Agency of California, L.L.C.
	  	California Limited Liability Company, Subsidiary of California Agency Holding, LLC	  	 	99	% 
			
	 Edward Jones Insurance Agency
	  	Ontario Limited Partnership, Subsidiary of Edward Jones (Ontario Limited Partnership)	  	 	99	% 
			
	 Edward D. Jones & Co. Agency Holding Co. Inc.
	  	Canadian Corporation, Subsidiary of Edward Jones (Ontario Limited Partnership)	  	 	100	% 
			
	 Edward Jones Insurance Agency (Quebec) Inc.
	  	Canadian Corporation, Subsidiary of Edward D. Jones & Co. Agency Holding Co. Inc.	  	 	100	% 

 Schedule 4.1 – Subsidiaries 

EDWARD D. JONES & CO., L.P. 
 (Missouri Limited
Partnership) 
  

							
	 Name of Entity
	  	 Jurisdiction of

Formation or Incorporation
	  	Ownership %	 
			
	 Indirect Subsidiaries:
	  		  			
			
	 CIP Management, Inc.
	  	Missouri Corporation, Subsidiary of Conestoga Securities, Inc.	  	 	100	% 
			
	 CIP Management, L.P., LLLP
	  	Missouri Limited Partnership, Subsidiary of EDJ Ventures, Ltd., L.P.	  	 	99	% 

 Schedule 4.6 – Litigation 

None. 

 Schedule 6.1 – Certain Existing Indebtedness 

Contingent Obligations 
 The Jones Financial
Companies, L.L.L.P. – Indemnification Agreement 
 Regarding the Canadian Headquarters lease at Sussex Centre: 

Indemnifier shall be bound by this Agreement in the same manner as if the Indemnifier were the tenant name on the lease 

The Jones Financial Companies, L.L.L.P. – Loan Agreement 

Issued 2011, to Edward D. Jones & Co., L.P.$500,000 line of credit intended to provide short-term liquidity should the need arise 

The Jones Financial Companies, L.L.L.P. – Indemnification Agreement 

Regarding fronted insurance policies written by Travelers Casualty and Surety Company of America: Indemnifier agrees to make Travelers whole
for any expenses incurred as a result of claims made against these insurance policies 
 Olive Street Investment Advisers, LLC – Expense Limitation
Agreement 
 Olive Street Investment Advisers, LLC has agreed to reduce fees and reimburse certain Bridge Builder Bond Fund expenses to
the extent necessary to maintain a maximum annual operating expense limit for the Fund 
 Edward D. Jones & Co., L.P. – Expense
Reimbursement Agreement 
 Issued 1995, to Edward Jones Trust Company, potential monthly reimbursement of expenses of Edward Jones Trust
Company in excess of gross revenue if monthly request submitted 
 Edward D. Jones & Co., L.P. – Comfort Letter 

Issued 2009, to Bank of Montreal 

For Edward Jones (an Ontario Limited Partnership) as the Borrower, Edward D. Jones & Co., L.P. will: 

 

	 	•	 	Continue to act as limited partner of the Borrower and hold beneficial ownership of 99% of the issued and outstanding partnership units of the Borrower 

 

	 	•	 	Ensure that the Borrower has financial resources sufficient to ensure that it is able to honor all of its obligations to the Bank in respect of the Facilities as they become due 

 

	 	•	 	Cause the Borrower to honor all of its obligations to the Bank with respect to the Facilities as they become due 

 Schedule 6.1 – Certain Existing Indebtedness 

Debt 
 Edward D. Jones & Co., L.P.
– Subordinated Debt 
 Note Purchase Agreement dated as of June 12, 2002 relating to the 7.33% Subordinated Capital Notes due
2014, $50 million outstanding 
 Edward D. Jones & Co., L.P. – Lines of Credit* 

 

									
	Bank	  	Limit	 	  	Current
Outstanding	 
	 Bank of America
	  	$	125,000,000	  	  	$	0	  
	 U.S. Bank
	  	 	150,000,000	  	  	 	0	  
	 SunTrust
	  	 	60,000,000	  	  	 	0	  
	 Wells Fargo
	  	 	50,000,000	  	  	 	0	  
	 Northern Trust
	  	 	30,000,000	  	  	 	0	  
		  	  
	  
	 	  			
		  	$	415,000,000	  	  			

  

	*	Lines of credit are uncommitted and available for overnight borrowing in the course of ordinary business. The uncommitted lines of credit are subject to change at the discretion of the banks and, therefore, due to
credit market conditions and the uncommitted nature of these credit facilities, it is possible that these lines of credit could decrease or not be available in the future. 

EDJ Leasing Co., L.P. – Mortgage 

Office Building located at 8333 South River Parkway, Tempe, AZ 85284 

Issued 4/27/2002, $13.1 million, 7.25%, 15-year due 2017, $4.6 million outstanding 

Financed by Farm Bureau Financial Services 

EDJ Leasing Co., L.P. & Edward D. Jones & Co., L.P. – Chapter 100 Bonds 

The partnership has purchased industrial revenue bonds issued by St. Louis County, related to certain self-constructed and purchased real and
personal property. This provides for potential property tax benefits over the life of the bonds. The partnership is therefore both the bondholder and the debtor/lessee for these properties. The partnership has exercised its right to offset the
amounts invested in and the obligations for these bonds and has therefore excluded any bond related balances in the consolidated statements of financial condition. 

Edward Jones (An Ontario Limited Partnership) – Credit Agreement 

Issued 2009, to Bank of Montreal for $59,875,000 USD 

Various uncommitted credit facilities, including but not limited to, call loans, daylight overdraft, extender of credit commitments, and
repurchase agreements 

 Schedule 6.2A – Certain Existing Liens 

EDJ Leasing Co., L.P. – Mortgage 

Office Building located at 8333 South River Parkway, Tempe, AZ 85284 

Issued 4/27/2002, $13.1 million, 7.25%, 15-year due 2017 

Financed by Farm Bureau Financial Services 

EDJ Leasing Co., L.P. – UCC-1 Financing Statement No. 20020064097J filed with the Missouri Secretary of State, as continued 

Debtor’s right in and to ASU Research Park Lease dated 1/12/95, as amended by Amendment to ASU Research Park Lease and Agreement for Use
of Common Driveway dated 1/12/95, Amendment to Lease dated 1/13/98 and Third Amendment to ASU Research Park Lease and Consent dated 7/1/01; Secured Party: Farm Bureau Life Insurance Company 

Edward D. Jones & Co., L.P. – Pledges 

Firm and Customer securities pledged to Northern Trust under the Second Amended and Restated Pledge and Collateral Administration Agreement
dated June 30, 2000, and used to secure uncommitted lines of credit with several banks 
 Edward D. Jones & Co., L.P. – UCC-1
Financing Statement No. 1212756 filed with the Missouri Secretary of State, as continued and amended 
 Any and all general
intangibles consisting of uncertificated book entry stock or other securities pledged to Secured Party as noted on the records of the Depository Trust Company or Banks of the Federal Reserve System, carried for the account of and hypothecated by
Debtor’s customers; Secured Party: Bank of America, N.A., successor in interest to The Boatmen’s National Bank of St. Louis, f/k/a Centerre Bank National Association; uncommitted facility 

Edward D. Jones & Co., L.P. – UCC-1 Financing Statement No. 20040060168J filed with the Missouri Secretary of State 

Blanket Filing – all right title, share and interest in and to shares of stock, securities, securities accounts, security entitlements,
financial assets and/or other investment property described in collateral schedules provided by Debtor to Secured party, together with any and all distributions (“Securities”); any and all monies, reserves, deposits, certificates of
deposit and deposit accounts and interest dividends thereon, securities, securities accounts, investment property, cash, cash equivalents and other property of Secured Party; any and all accessions to any of the Collateral and all substitutions,
renewals, improvements and replacements of or additions thereto; any and all other property, real or personal that Debtor has granted to Secured Party as security interest, lien or other encumbrance; and all products and proceeds of the foregoing
(collectively, the “Collateral”); Secured Party: U.S. Bank National Association; uncommitted facility, amount equal to U.S. Bank’s line of credit amount of $150,000,000 

 Schedule 6.2A – Certain Existing Liens 

Edward Jones Trust Company – UCC-1 Financing Statement No. 20030132229F filed with the Missouri Secretary of State, as continued and amended 

Blanket Filing – All investment property, instruments, and deposit accounts which Debtor now owns or hereafter acquires and any
replacements or proceeds thereof, including: (1) Federal Home Loan Bank of Des Moines Stock; (2) Funds on deposit with Secured Party; (3) Promissory notes and other negotiable and non-negotiable instruments and all related collateral,
guarantees, and other supporting obligations including mortgages, deeds of trust and other real property security interests; (4) Securities or obligations issued by the US government or its agencies, including but not limited to mortgage-backed
securities issued or guaranteed by Federal Home Loan Mortgage Corp., Federal National Mortgage Assoc. and the Government National Mortgage Assoc.; and (5) Privately issued mortgage-backed securities, collateralized mortgage obligations, real
estate mortgage investment conduits, or regulated investment companies; Secured Party: Federal Home Loan Bank of Des Moines. While the lien on file related to the predecessor to Edward Jones Trust Company (EJTC), Boone National Savings and Loan,
since August 2006 the EJTC Charter with the OTS has precluded borrowings by EJTC 
 Edward Jones – Form 1C Financing Statement No.
200807071456-8028-0120 filed with the Ontario Ministry of Consumer and Business Services 
 Collateral is generally described as
“Accounts and Other”; Secured Party: CDS Clearing and Depository Services Inc.; uncommitted facility, no stated amount. Allows CDS to use Edward Jones securities in its possession from time to time to cover any settlement failures 

 Schedule 6.2C – Agreements With Restrictions On Subsidiaries 

Edward D. Jones & Co., L.P. 

Subordinated Capital Notes, Dated June 12, 2002, Due June 12, 2014 

Section 12.16(b): Neither Edward D. Jones & Co., L.P. nor any consolidated subsidiary will make any Restricted
Distribution (e.g., return on partnership interest) if doing so would create an event of default 
 Section 12.16(c): Neither
Edward D. Jones & Co., L.P. nor any consolidated subsidiary will pay any management fees if doing so would create an event of default 

 Schedule 6.3 – Certain Existing and Permitted Investments 

THE JONES FINANCIAL COMPANIES, L.L.L.P. 

  (Missouri Limited Liability Limited Partnership) 

Customer Account Protection Company Holdings, Inc. 
 Provider of
excess SIPC insurance to clients through September 30, 2009 
 Book value of investment of $5,000,000 

Loans to individuals from The Jones Financial Companies, L.L.L.P. 

Total loan amount of $873,587 with $589,750 outstanding 

Investment in Bridge Builder Bond Fund (BBTBX) as seed capital 

Expect to transfer this investment to additional Bridge Builder funds as they open 

Investment amount of $100,000 
 EDWARD D. JONES & CO,
L.P. 
   (Missouri Limited Partnership) 

Investment Securities (as of October 25, 2013): 

Mutual Funds held by the U.S. broker-dealer, $108.3 million (Financial Advisor Deferred Compensation program) 

Investment in Depository Trust Company by the U.S. broker-dealer, 231.88235 shares 

Chapter 100 Bonds: 
 Transfer of land and
buildings to St. Louis County in exchange for Chapter 100 Bonds. The land and buildings were then leased/subleased back under leases where the payment terms equated to the County bond payment terms. 

 

	 	•	 	Taxable Industrial Revenue Bonds (Edward D. Jones & Co., L.P. Project) Series 2001B, dated August 1, 2001 

  

	 	•	 	Ordinance No. 24,183 relating to certain existing Agreement entered into by St. Louis County, Missouri, in connection with the issuance of its Taxable Industrial Revenue Bonds (Edward Jones Des Peres Project)
approved November 12, 2009 

  

	 	•	 	Ordinance No. 24,182 authorizing Amendments of certain existing Agreements entered into by St. Louis County, Missouri, in connection with the issuance of its Taxable Industrial Revenue Bonds (Edward Jones Maryland
Heights Project) approved November 12, 2009 

 Schedule 6.7 – Certain Asset Dispositions 

None. 

 Schedule 6.8 – Certain Affiliate Transactions 

None. 

 Schedule 6.9 – Certain Sale and Lease-Backs 

Chapter 100 Bonds 
 EDJ Leasing Co., L.P.
and Edward D. Jones & Co., L.P. transferred land and buildings to St. Louis County in exchange for Chapter 100 Bonds. The land and buildings were then leased/subleased back under leases where the payment terms equated to the County
bond payment terms. 
  

	 	•	 	Taxable Industrial Revenue Bonds (Edward D. Jones & Co., L.P. Project) Series 2001B, dated August 1, 2001 

  

	 	•	 	Ordinance No. 24,183 relating to certain existing Agreement entered into by St. Louis County, Missouri, in connection with the issuance of its Taxable Industrial Revenue Bonds (Edward Jones Des Peres Project)
approved November 12, 2009 

  

	 	•	 	Ordinance No. 24,182 authorizing Amendments of certain existing Agreements entered into by St. Louis County, Missouri, in connection with the issuance of its Taxable Industrial Revenue Bonds (Edward Jones Maryland
Heights Project) approved November 12, 2009 

 Schedule 9.8 

Notice Addresses 

Borrower: 
 General Counsel, 10th Floor 
 12555 Manchester Road 

Saint Louis, MO 63131 
 With copies to: 

Treasurer 
 12555 Manchester Road 

Saint Louis, MO 63131 
 Duane Morris LLP 

190 South LaSalle Street, Suite 3700 
 Chicago, Illinois
60603-3433 
 Attention: Brian P. Kerwin, Esq. 
 Telephone:
(312) 499-6737 
 Wells Fargo Bank, National Association, 

As Administrative Agent and Swing Line Lender 
 1525 West
WT Harris Boulevard 
 Charlotte, North Carolina 28262 

Attention: Diana Horn 
 Telephone: (704)-590-2850 

With copy to: 
 Jones Day 

77 West Wacker Drive 
 Chicago, Illinois 60601 

Attention: Loren Weil, Esq. 
 Telephone: (312) 269-1583EX-4.1

 Exhibit 4.1 
  

 
  

AMENDED AND RESTATED 

RIGHTS AGREEMENT 
 AEP
INDUSTRIES INC. 
 AND 

AMERICAN STOCK TRANSFER & TRUST COMPANY, LLC 

AS RIGHTS AGENT 

Dated as of March 28, 2014 
  

 
  

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	 1.
	 	Definitions	  	 	1	  
			
	 2.
	 	Appointment of Rights Agent	  	 	9	  
			
	 3.
	 	Issuance of Right Certificates	  	 	9	  
			
	 4.
	 	Form of Right Certificates	  	 	11	  
			
	 5.
	 	Countersignature and Registration	  	 	11	  
			
	 6.
	 	Transfer, Split Up, Combination and Exchange of Right Certificates; Mutilated, Destroyed, Lost or Stolen Right Certificates	  	 	12	  
			
	 7.
	 	Exercise of Rights, Purchase Price; Expiration Date of Rights	  	 	13	  
			
	 8.
	 	Cancellation and Destruction of Right Certificates	  	 	14	  
			
	 9.
	 	Availability of Shares of Preferred Stock	  	 	14	  
			
	 10.
	 	Preferred Stock Record Date	  	 	15	  
			
	 11.
	 	Adjustment of Purchase Price, Number and Kind of Shares or Number of Rights	  	 	16	  
			
	 12.
	 	Certificate of Adjusted Purchase Price or Number of Shares	  	 	24	  
			
	 13.
	 	Consolidation, Merger or Sale or Transfer of Assets or Earnings Power	  	 	24	  
			
	 14.
	 	Fractional Rights and Fractional Shares	  	 	27	  
			
	 15.
	 	Rights of Action	  	 	29	  
			
	 16.
	 	Agreement of Right Holders	  	 	29	  
			
	 17.
	 	Right Certificate Holder Not Deemed a Stockholder	  	 	30	  
			
	 18.
	 	Concerning the Rights Agent	  	 	30	  
			
	 19.
	 	Merger or Consolidation or Change of Name of Rights Agent	  	 	31	  
			
	 20.
	 	Duties of Rights Agent	  	 	31	  
			
	 21.
	 	Change of Rights Agent	  	 	33	  
			
	 22.
	 	Issuance of New Right Certificates	  	 	34	  
			
	 23.
	 	Redemption	  	 	35	  
			
	 24.
	 	Exchange	  	 	35	  
			
	 25.
	 	Notice of Certain Events	  	 	37	  
			
	 26.
	 	Notices	  	 	38	  
			
	 27.
	 	Supplements and Amendments	  	 	39	  
			
	 28.
	 	Successors	  	 	39	  

  
 i 

							
	 29.
	 	Benefits of this Rights Agreement	  	 	39	  
			
	 30.
	 	Determinations and Actions by the Board of Directors	  	 	39	  
			
	 31.
	 	Severability	  	 	40	  
			
	 32.
	 	Governing Law	  	 	40	  
			
	 33.
	 	Counterparts	  	 	40	  
			
	 34.
	 	Descriptive Headings	  	 	40	  
			
	 35.
	 	Force Majeure	  	 	40	  

 EXHIBITS 
  

					
	 Exhibit A – Certificate of Designations
	  	 	A-1	  
		
	 Exhibit B – Form of Right Certificate
	  	 	B-1	  

  
 ii 

 AMENDED AND RESTATED RIGHTS
AGREEMENT 
 Amended and Restated Rights Agreement, dated as of March 28, 2014 (as further amended, supplemented
or otherwise modified from time to time, this “Rights Agreement”), between AEP Industries Inc., a Delaware corporation (the “Company”), and
American Stock Transfer & Trust Company, LLC, a New York limited liability trust company (the “Rights Agent”). 

W I T N E S S E T H 

WHEREAS, on March 31, 2011, the Board of Directors of the Company (the “Board of Directors”)
adopted the Rights Agreement, dated as of March 31, 2011 (the “Original Agreement”) and authorized and declared a dividend of one preferred share purchase right (a “Right”) for each share of
Common Stock (as defined below) of the Company outstanding as of the Close of Business (as defined below) on April 11, 2011 (the “Record Date”), and authorized and directed the issuance of one Right (subject to
adjustment as provided therein) with respect to each share of Common Stock that becomes outstanding between the Record Date and the earlier of the Distribution Date and the Expiration Date (each as defined therein), with each Right representing the
right to purchase one one-thousandth (subject to adjustment) of a share of Preferred Stock (as defined below) upon the terms and subject to the conditions set forth in therein;  

WHEREAS, on January 13, 2014, the Board of Directors determined it desirable and in the best interests of the Company and its
stockholders that the Original Agreement be amended and restated in its entirety, and the Board of Directors delegated authority to a Special Committee of the Board of Directors to approve the final terms of such amendment and restatement; and 

WHEREAS, on March 26, 2014, a Special Committee of the Board of Directors, in accordance with Section 27 of the Original Agreement,
determined it desirable and in the best interests of the Company and its stockholders that the Original Agreement be amended and restated in its entirety and approved the terms of such amendment and restatement, effective March 28, 2014. 

NOW, THEREFORE, in consideration of the premises and the mutual agreements herein set forth, the parties hereby agree as follows: 

1. DEFINITIONS. For purposes of this Rights Agreement, the following terms have the meaning indicated: 

(a) “Acquiring Person” shall mean any Person (as defined below) who or which, alone or together with all Related
Persons (as defined below) of such Person, shall be the Beneficial Owner (as defined below) of 10% or more of the shares of Common Stock then outstanding but shall not include an Exempt Person (as defined below). The phrase “then
outstanding” when used with reference to a Person’s Beneficial Ownership of securities of the Company, shall mean the number of such securities then issued and outstanding together with the number of such securities not then
actually issued and outstanding which such Person would be deemed to beneficially own hereunder. 

  
 1 

 (b) A Person shall be deemed to be “Acting in Concert” with
another Person if such Person knowingly acts (whether or not pursuant to an express agreement, arrangement or understanding) at any time after the first public announcement of the adoption of the Original Agreement, in concert or in parallel with
such other Person, or towards a common goal with such other Person, relating to changing or influencing the control of the Company or in connection with or as a participant in any transaction having that purpose or effect, where (i) each Person
is conscious of the other Person’s conduct and this awareness is an element in their decision-making processes and (ii) at least one additional factor supports a determination by the Board of Directors that such Persons intended to act in
concert or in parallel, which such additional factors may include, without limitation, exchanging information, attending meetings, conducting discussions, or making or soliciting invitations to act in concert or in parallel; provided that the
additional factor required shall not include actions by an officer or director of the Company acting in such capacities. A Person who is Acting in Concert with another Person shall also be deemed to be Acting in Concert with any third party who is
also Acting in Concert with such other Person. 
 No Person shall be deemed to be Acting in Concert with another Person solely as a result
of (i) making or receiving a solicitation of, or granting or receiving, revocable proxies or consents given in response to a public proxy or consent solicitation made pursuant to, and in accordance with, Section 14(a) of the Exchange Act
(as defined below) by means of a solicitation statement filed on Schedule 14A, or (ii) soliciting or being solicited for tenders of, or tendering or receiving tenders of, securities in a public tender or exchange offer made pursuant to, and in
accordance with, Section 14(d) of the Exchange Act by means of a tender offer statement filed on Schedule TO. 
 (c)
“Affiliate” and “Associate” shall have the respective meanings ascribed to such terms in Rule 12b-2 of the General Rules and Regulations under the Exchange Act. 

(d) A Person shall be deemed the “Beneficial Owner” of, shall be deemed to have “Beneficial
Ownership” of and shall be deemed to “beneficially own” any securities: 
 (1) which such Person
or any of such Person’s Related Persons is deemed to beneficially own, directly or indirectly, within the meaning of Rule 13d-3 of the General Rules and Regulations under the Exchange Act as in effect on the date of this Rights Agreement; 

(2) which such Person or any of such Person’s Related Persons, directly or indirectly, has 

(A) the Right to Acquire; provided, however, that a Person shall not be deemed the “Beneficial
Owner” of, or to “beneficially own”, (x) securities tendered pursuant to a tender or exchange offer made by or on behalf of such Person or any of such Person’s Related Persons until such tendered securities are accepted for

  
 2 

 
purchase or exchange, (y) securities which such Person or any of such Person’s Related Persons has a Right to Acquire on the exercise of Rights at any time prior to a Trigger Event, or
(z) securities issuable upon the exercise of Rights from and after a Trigger Event if such Rights are Original Rights (as defined below) or pursuant to Sections 11(i) or (n) hereof with respect to an adjustment to the
Original Rights; and/or 
 (B) the right to vote pursuant to any agreement, arrangement or understanding (whether or
not in writing); provided, however, that a Person shall not be deemed the Beneficial Owner of, or to beneficially own, any security by reason of such agreement, arrangement or understanding if the agreement, arrangement or
understanding to vote such security (1) arises solely from a revocable proxy or consent given to such Person in response to a public proxy or consent solicitation made pursuant to, and in accordance with, the applicable rules and regulations
promulgated under the Exchange Act and (2) is not also then reportable on Schedule 13D under the Exchange Act (or any comparable or successor report); and 

(3) which are beneficially owned, directly or indirectly, by any other Person (or any Related Person thereof) with which such Person
(or any of such Person’s Related Persons) has any agreement, arrangement or understanding (whether or not in writing), for the purpose of acquiring, holding, voting (except pursuant to a revocable proxy or consent as described in
Section 1(d)(2)(B) hereof) or disposing of such securities of the Company; provided, however, that (A) that nothing in this Section 1(d) shall cause a Person engaged in business as an underwriter of
securities to be the “Beneficial Owner” of, or to “beneficially own,” any securities acquired through such Person’s participation in good faith in a firm commitment underwriting registered under the Securities Act until the
expiration of 40 days after the date of such acquisition, and then only if such securities continue to be owned by such Person at such expiration of 40 days; and (B) no Person who is an officer, director, or employee of an Exempt Person shall
be deemed, solely by reason of such Person’s status or authority as such, to be the “Beneficial Owner” of, to have “Beneficial Ownership” of or to “beneficially own” any securities that are “beneficially
owned” (as defined in this Section 1(d)), including, without limitation, in a fiduciary capacity, by an Exempt Person or by any other such officer, director or employee of an Exempt Person. 

A Person who or which, together with all of such Person’s Related Persons, shall be the “Beneficial Owner” (within the meaning
of Sections 1(d)(1) through 1(d)(3) hereof) of 5% or more of the Common Stock then outstanding, shall also be deemed to be the “Beneficial Owner” of, to have “Beneficial Ownership” of or to “beneficially
own,” the full notional amount of any securities (as specified in a filing by such Person or any of such Person’s Related Persons with the Securities and Exchange Commission or determined by the Board of Directors in good faith) that,
directly or indirectly, underlie any Synthetic Equity Position (as defined below) and that are, directly or indirectly, held or maintained by such Person, or any of such Person’s Related Persons; provided, that any Person satisfying the
requirements of Rule 13d-1(b)(1) (other than a Person that so satisfies Rule 13d-1(b)(1) solely by reason of Rule 13d-1(b)(1)(ii)(E)) shall not be deemed to beneficially own the notional amount of any securities that underlie a Synthetic Equity
Position held by such Person as a hedge with respect to a bona fide derivatives trade or position of such Person arising in the ordinary course of such Person’s business as a derivatives dealer. For the avoidance of doubt, a Person shall be
deemed to have 

  
 3 

 
acquired Beneficial Ownership of additional shares of Common Stock upon settlement of a Synthetic Equity Position for shares of Common Stock or upon entry into, or acquisition of, any Synthetic
Equity Position that was not held or maintained by such Person as of immediately prior to the first public announcement of the adoption of the Original Agreement. 

No Person who is an officer, director or employee of an Exempt Person shall be deemed, solely by reason of such Person’s status or
authority as such, to be the “Beneficial Owner” of, to have “Beneficial Ownership” of or to “beneficially own” any securities that are “beneficially owned” (as defined in this Section 1(d)),
including, without limitation, in a fiduciary capacity, by an Exempt Person or by any other such officer, director or employee of an Exempt Person. 

Notwithstanding any of the foregoing, no Person shall be deemed to be the “Beneficial Owner” of, to have “Beneficial
Ownership” of or to “beneficially own” any securities which such Person or any of such Person’s Related Persons, would otherwise be deemed to “beneficially own” pursuant to this Section 1(d) solely as a
result of any merger or other acquisition agreement between the Company and such Person (or one or more of such Person’s Related Persons), or any tender, voting or support agreement entered into by such Person (or one or more of such
Person’s Related Persons) in connection therewith, if, prior to such Person becoming an Acquiring Person, the Board of Directors has approved such merger or other acquisition agreement, or such tender, voting or support agreement. 

(e) “Business Day” shall mean any day other than a Saturday, a Sunday, or a day on which banking institutions in
the State of New York or the State of New Jersey, are authorized or obligated by law or executive order to close. 
 (f)
“Close of Business” on any given date shall mean 5:00 P.M., New Jersey time, on such date; provided, however, that if such date is not a Business Day it shall mean 5:00 P.M., New Jersey time, on the next
succeeding Business Day. 
 (g) “Common Stock” when used with reference to the Company shall mean the common
stock, par value $0.01 per share, of the Company. “Common Stock” when used with reference to any Person other than the Company shall mean the capital stock of such Person with the greatest voting power, or the equity
securities or other equity interest having power to control or direct the management, of such Person or, if such Person is a Subsidiary (as defined below) of another Person, the Person or Persons which ultimately control such first-mentioned Person,
and which has issued and outstanding such capital stock, equity securities or equity interest. 
 (h) “Exchange
Act” shall mean the Securities Exchange Act of 1934, as amended and in effect on the date of this Rights Agreement. 

(i) “Exempt Person” shall mean the following: 

(1) the Company, any Subsidiary of the Company, any employee benefit or compensation plan of the Company or of any of its Subsidiaries,
or any entity or trustee holding Common Stock for or pursuant to the terms of any employee benefit plan of the Company or any of its Subsidiaries or for the purpose of funding any such plan or funding other employee benefits for employees of the
Company or any of its Subsidiaries; 

  
 4 

 (2) any Person who or which, alone or together with all Affiliates and Associates of such
Person, has become and is the Beneficial Owner of 10% or more of the shares of Common Stock at the time outstanding solely as the result of: 

(A) a change in the aggregate number of shares of Common Stock outstanding since the last date on which such Person acquired Beneficial
Ownership of any shares of Common Stock, provided, however, that if such Person (together with all Related Persons) thereafter becomes the Beneficial Owner of any additional shares of Common Stock (other than (i) pursuant to a
dividend or distribution paid or made by the Company on the outstanding Common Stock, pursuant to a split or subdivision of the outstanding Common Stock or (ii) as a result of the exercise of any options or the vesting of any restricted shares,
restricted stock units, performance shares, performance share units or other equity securities granted prior to or after the date hereof to such Person under any employee benefit or compensation plan of the Company or any of its Subsidiaries), then
such Person (together with all Related Persons) shall be deemed to be an “Acquiring Person,” subject to Section 1(i)(2)(B) hereof (unless upon the consummation of the acquisition of such additional shares of Common Stock such
Person together with its Related Persons does not beneficially own 10% or more of the shares of Common Stock then outstanding); or 

(B) the acquisition by such Person or one or more of such Person’s Affiliates and Associates of Beneficial Ownership of additional
shares of Common Stock if the Board of Directors determines that such acquisition was made in good faith without the knowledge by such Person or one or more of its Affiliates and Associates that such Person would thereby become an Acquiring Person,
which determination of the Board of Directors shall be conclusive and binding on such Person, the Rights Agent, the holders of the Rights and all other Persons; provided, however, that if any Person that is not an Acquiring Person due
to this Section 1(i)(2)(B) does not reduce its percentage of Beneficial Ownership of shares of Common Stock to less than 10% by the Close of Business on the tenth calendar day after notice from the Company (the date of notice being the
first day) that such Person’s Beneficial Ownership of shares of Common Stock would make it an Acquiring Person, such Person shall, at the end of such ten calendar day period, become an Acquiring Person (and this Section 1(i)(2)(B)
shall no longer apply to such Person); 
 (3) any Person who would, as of the Close of Business on the date hereof, be an
“Acquiring Person”, unless and until such Person (together with all Related Persons) shall acquire after the date hereof, without the prior approval of the Board of Directors, Beneficial Ownership of any additional shares of Common Stock
(other than (A) pursuant to a dividend or distribution paid or made by the Company on the outstanding Common Stock, pursuant to a split or subdivision of the outstanding Common Stock or (B) as a result of the exercise of any options or the
vesting of any restricted shares, restricted stock units, performance shares, performance share units or other equity securities granted prior to or after the date hereof to such Person under any employee benefit or compensation plan of the Company
or any of its Subsidiaries); and 

  
 5 

 (4) any Specified Person upon an acquisition of Specified Shares; provided that:

 (A) following an acquisition of Specified Shares, which results in such Specified Person beneficially owning 20% or more of the
shares of Common Stock then outstanding, (i) within 90 days from such acquisition (or such earlier or later time as the Board of Directors may determine and so advise the Specified Person in writing), such Specified Person and/or any or all of
its Related Persons take the necessary actions to reduce their aggregate Beneficial Ownership of Common Stock to less than 20% of the shares of Common Stock then outstanding, (ii) until such Beneficial Ownership is so reduced and solely with
respect to the Common Stock beneficially owned by such Specified Person and its Related Persons in excess of 20% of the shares of Common Stock then outstanding, such Specified Person and its Related Persons vote, with respect to any matter submitted
to a vote of the holders of Common Stock, all such excess Common Stock on a pro rata basis proportionate to all other votes of Common Stock actually cast on the matter; and 

(B) following such acquisition and so long as their aggregate Beneficial Ownership of Common Stock is 10% or more of the shares of
Common Stock then outstanding, such Specified Person and its Related Persons, taken together, do not, without the prior approval of the Board of Directors, acquire Beneficial Ownership of any additional shares of Common Stock (other than
(i) pursuant to a dividend or distribution paid or made by the Company on the outstanding Common Stock, pursuant to a split or subdivision of the outstanding Common Stock or (ii) as a result of the exercise of any options or the vesting of
any restricted shares, restricted stock units, performance shares, performance share units or other equity securities granted prior to or after the date hereof to such Person under any employee benefit or compensation plan of the Company or any of
its Subsidiaries). 
 Any Person subject to Section 1(i) shall, for so long as such Person complies with the requirements of
such section, be considered an “Exempt Person” for purposes of Section 1(i); provided, however, that such Person’s qualification as an “Exempt Person” under this Section 1(i) shall be
terminated if, at a later date, such Person, together with its Related Persons, reduces their aggregate Beneficial Ownership of Common Stock to less than 10% of the shares of Common Stock then outstanding. 

(j) “Immediate Family Members” shall mean a Person’s spouse, parents, children, siblings, mothers-in-law
and fathers-in-law, sons and daughters-in-law, brothers and sisters-in-law, and anyone (other than employees) who resides at such Person’s home. 

(k) “NASDAQ” shall mean The NASDAQ Stock Market LLC. 

(l) “Original Rights” shall mean Rights that were acquired by a Person or any of such Person’s Related
Persons prior to the Distribution Date or pursuant to Sections 3 or 22 hereof. 
 (m) “Person”
shall mean any individual, firm, corporation, partnership, joint venture, limited liability company, trust or other entity, and shall include any successor (by merger or otherwise) of such entity. 

  
 6 

 (n) “Preferred Stock” shall mean the shares of Series A Junior
Participating Preferred Stock, $1.00 par value per share, of the Company having the rights and preferences set forth in the Certificate of Designations attached hereto as Exhibit A and filed with the Secretary of State of the State of
Delaware on March 31, 2011 (as amended from time to time) and, to the extent that there are not a sufficient number of shares of Series A Junior Participating Preferred Stock authorized to permit the full exercise of the Rights, any other
series of preferred stock of the Company designated for such purpose containing terms substantially similar to the terms of the Series A Junior Participating Preferred Stock. 

(o) “Related Person” shall mean, as to any Person, any Affiliates or Associates of such Person, and any other
Person with whom such Person or such Person’s Affiliates or Associates is Acting in Concert (or any Affiliate or Associate of such other Person). 

(p) “Right to Acquire” shall mean a legal, equitable or contractual right to acquire (whether directly or
indirectly and whether exercisable immediately, or only after the passage of time, compliance with regulatory requirements, fulfillment of a condition or otherwise), pursuant to any agreement, arrangement or understanding, whether or not in writing
(excluding customary agreements entered into in good faith with and between an underwriter and selling group members in connection with a firm commitment underwriting registered under the Securities Act), or upon the exercise of any option, warrant
or right, through conversion of a security, pursuant to the power to revoke a trust, discretionary account or similar arrangement, pursuant to the power to terminate a repurchase or similar so-called “stock borrowing” agreement or
arrangement, or pursuant to the automatic termination of a trust, discretionary account or similar arrangement. 
 (q)
“Securities Act” shall mean the Securities Act of 1933, as amended. 
 (r) “Specified
Person” shall mean (i) an Immediate Family Member of any Person transferring shares of Common Stock and any trust for the benefit of (or the trustees of which include) such Immediate Family Member or such Person, which Immediate
Family Member or trust acquires Common Stock from such Person, and (ii) an executor or trustee for the estate of a Person transferring shares of Common Stock or of such Immediate Family Member, which executor or trustee acquires Common Stock
from such Person or Immediate Family Member. 
 (s) “Specified Shares” shall mean any shares of Common Stock
acquired by any Specified Person from a Person for no consideration, whether (i) by will; (ii) pursuant to applicable laws of decent and distribution; (iii) by gift; or (iv) other estate planning methods. 

(t) “Stock Acquisition Date” shall mean the first date of public announcement (which, for purposes of this
definition, shall include, without limitation, the filing of a report pursuant to Section 13(d) of the Exchange Act or pursuant to a comparable successor statute) by the Company or an Acquiring Person that an Acquiring Person has become such or
that discloses information which reveals the existence of an Acquiring Person or such earlier date as a majority of the Board of Directors shall become aware of the existence of an Acquiring Person. 

  
 7 

 (u) “Subsidiary” shall mean, with reference to any Person, any
corporation or other entity of which securities or other ownership interests having ordinary voting power sufficient to elect a majority of the board of directors or other persons performing similar functions are beneficially owned, directly or
indirectly, by such Person, and any corporation or other entity that is otherwise controlled by such Person. 
 (v)
“Synthetic Equity Position” shall mean any “derivative security” (as such term is defined in Rule 16a-1(c) under the Exchange Act) that constitutes a “call equivalent position” (as such term is defined in
Rule 16a-1(b) under the Exchange Act); provided, that for the purposes of this Section 1(v), the term “derivative security” shall also include any security or instrument that would not otherwise constitute a
“derivative security” as a result of any feature that would make any conversion, exercise or similar right or privilege of such security or instrument becoming determinable only at some future date or upon the happening of a future
occurrence, in which case the determination of the amount of securities into which such security or instrument would be convertible or exercisable shall be made assuming that such security or instrument is immediately convertible or exercisable at
the time of such determination. 
 (w) A “Trigger Event” shall be deemed to have occurred upon any Person
becoming an Acquiring Person. 
 The following terms shall have the meanings defined for such terms in the sections set forth herein: 

 

			
	 Term
	  	 Section

	 Adjustment Shares
	  	11(a)(ii)
	 Authorized Officer
	  	5(a)
	 Board of Directors
	  	Recitals
	 Common Stock Equivalents
	  	11(a)(iii)
	 current per share market price
	  	11(d)(i)
	 Current Value
	  	11(a)(iii)
	 Distribution Date
	  	3(a)
	 Equivalent Preferred Stock
	  	11(b)
	 Exchange Ratio
	  	24(a)
	 Expiration Date
	  	7(a)
	 Final Expiration Date
	  	7(a)
	 Principal Party
	  	13(b)
	 Purchase Price
	  	7(b)
	 Record Date
	  	Recitals
	 Redemption Price
	  	23(a)
	 Right
	  	Recitals
	 Right Certificate
	  	3(a)
	 Security
	  	11(d)(i)
	 Spread
	  	11(a)(iii)
	 Substitution Period
	  	11(a)(iii)
	 Trading Day
	  	11(d)(i)
	 Trust
	  	24(a)
	 Trust Agreement
	  	24(a)

  
 8 

 2. APPOINTMENT OF RIGHTS
AGENT. The Company hereby appoints the Rights Agent to act as agent for the Company in accordance with the terms and conditions hereof, and the Rights Agent hereby accepts such appointment. The Company may from time to time appoint
such co-Rights Agents as it may deem necessary or desirable upon 10 days’ prior written notice to the Rights Agent. The Rights Agent shall have no duty to supervise, and in no event be liable for the acts or omissions of, any such co-Rights
Agent. 
 3. ISSUANCE OF RIGHT CERTIFICATES. 

(a) Rights Evidenced by Share Certificates. Until the Close of Business on the earlier of the tenth Business Day (or such later
date as may be determined from time to time by action of the Board of Directors prior to the Distribution Date) after (i) the Stock Acquisition Date and (ii) the date of the commencement by any Person (other than a Person in clause
(1) of the definition of Exempt Person) of, or of the first public announcement of the intention of such Person (other than a Person in clause (1) of the definition of Exempt Person) to commence, a tender or exchange offer the consummation
of which would result in any Person (other than a Person in clause (1) of the definition of Exempt Person) becoming the Beneficial Owner of 10% or more of the shares of Common Stock then outstanding (including, in the case of both clause
(i) and (ii), any such date which is after the date of this Rights Agreement and prior to the issuance of the Rights) (the earlier of such dates in clauses (i) and (ii) being herein referred to as the “Distribution
Date”), (A) the Rights (unless earlier expired, redeemed or terminated) will be evidenced (subject to the provisions of Sections 3(b) and (c) hereof) by the certificates for the Common Stock registered in the
names of the holders of the Common Stock and not by separate certificates, and (B) the Rights will be transferable only in connection with the transfer of the Common Stock. The preceding sentence notwithstanding, in the event that any such
tender or exchange offer described in clause (ii) is cancelled, terminated or otherwise withdrawn prior to the Distribution Date without the purchase of any shares of Common Stock pursuant thereto, such offer shall be deemed, for purposes of
this Section 3(a), never to have been made. As soon as practicable after the Distribution Date, the Company will prepare and execute, the Rights Agent will countersign, and the Company (or, if requested, the Rights Agent) will send,
by first-class, postage-prepaid mail, to each record holder of Common Stock as of the Close of Business on the Distribution Date (other than any Acquiring Person or any Related Person thereof), at the address of such holder shown on the records of
the Company, one or more certificates for Rights, in substantially the form attached hereto as Exhibit B (a “Right Certificate”), evidencing one Right for each share of Common Stock so held, subject to adjustment as
provided herein. As of, and after the Distribution Date, the Rights will be evidenced solely by such Right Certificates. Receipt of a Right Certificate by any Person shall not preclude a later determination that such Rights are null and void
pursuant to Section 11(a)(ii) hereof. To the extent applicable, the Company may implement such procedures as it deems appropriate, in its sole discretion, to minimize the possibility that Rights are received by Persons with respect to
whom Rights would be null and void under Section 11(a)(ii) hereof. 

  
 9 

 (b) Summary of Rights. The Company will make available, as promptly as practicable
following the Record Date, a copy of a Summary of Rights to any holder of Rights who may so request from time to time prior to the Expiration Date. With respect to certificates for the Common Stock outstanding as of the Record Date, or issued
subsequent to the Record Date but prior to the earlier of the Distribution Date or the Expiration Date, the Rights will be evidenced by such certificates for the Common Stock and the registered holders of the Common Stock shall also be the
registered holders of the associated Rights. Until the earlier of the Distribution Date or the Expiration Date, the transfer of any certificates representing shares of Common Stock in respect of which Rights have been issued shall also
constitute the transfer of the Rights associated with such shares of Common Stock. 
 (c) New Certificates After Record Date.
Rights shall be issued in respect of all shares of Common Stock which are issued (whether originally issued or from the Company’s treasury) after the Record Date but prior to the earlier of the Distribution Date or the Expiration Date, or in
certain circumstances provided in Section 22 hereof, after the Distribution Date. Certificates representing such shares of Common Stock shall also be deemed to be certificates for Rights, and shall bear the following legend: 

“THIS CERTIFICATE ALSO EVIDENCES AND ENTITLES THE HOLDER HEREOF TO CERTAIN RIGHTS AS SET FORTH IN A RIGHTS AGREEMENT BETWEEN AEP
INDUSTRIES INC. AND AMERICAN STOCK TRANSFER & TRUST COMPANY, LLC, AS RIGHTS AGENT, DATED AS OF MARCH 31, 2011, AS THE SAME MAY BE AMENDED, SUPPLEMENTED OR OTHERWISE MODIFIED FROM TIME TO TIME (THE “RIGHTS
AGREEMENT”), THE TERMS OF WHICH ARE HEREBY INCORPORATED HEREIN BY REFERENCE AND A COPY OF WHICH IS ON FILE AT THE PRINCIPAL EXECUTIVE OFFICES OF AEP INDUSTRIES INC. UNDER CERTAIN CIRCUMSTANCES, AS SET FORTH IN THE RIGHTS AGREEMENT, SUCH
RIGHTS WILL BE EVIDENCED BY SEPARATE CERTIFICATES AND WILL NO LONGER BE EVIDENCED BY THIS CERTIFICATE. AEP INDUSTRIES INC. WILL MAIL TO THE HOLDER OF THIS CERTIFICATE A COPY OF THE RIGHTS AGREEMENT WITHOUT CHARGE AFTER RECEIPT OF A WRITTEN REQUEST
THEREFOR. UNDER CERTAIN CIRCUMSTANCES SET FORTH IN THE RIGHTS AGREEMENT, RIGHTS ISSUED TO, OR HELD BY, ANY PERSON WHO IS, WAS OR BECOMES AN ACQUIRING PERSON OR ANY RELATED PERSON THEREOF (AS SUCH TERMS ARE DEFINED IN THE RIGHTS AGREEMENT), WHETHER
CURRENTLY HELD BY OR ON BEHALF OF SUCH PERSON OR BY ANY SUBSEQUENT HOLDER, SHALL BECOME NULL AND VOID AND WILL NO LONGER BE TRANSFERABLE.” 
 In the
event that the Company purchases or otherwise acquires any Common Stock after the Record Date but prior to the Distribution Date, any Rights associated with such Common Stock shall be deemed cancelled and retired so that the Company shall not be
entitled to exercise any Rights associated with the shares of Common Stock which are no longer outstanding. 
 Notwithstanding this
Section 3(c), the omission of a legend shall not affect the enforceability of any part of this Rights Agreement or the rights of any holder of the Rights. 

  
 10 

 4. FORM OF RIGHT CERTIFICATES.
The Right Certificates (and the forms of election to purchase shares and of assignment to be printed on the reverse thereof) each shall be substantially in the form set forth in Exhibit B hereto and may have such marks of identification or
designation and such legends, summaries or endorsements printed thereon as the Company may deem appropriate and as are not inconsistent with the provisions of this Rights Agreement, or as may be required to comply with any applicable law or with any
rule or regulation made pursuant thereto or with any rule or regulation of any stock exchange or automated quotation system on which the Rights may from time to time be listed or quoted, or to conform to usage. Subject to the provisions of
Sections 11 and 22 hereof, the Right Certificates, whenever distributed, shall be dated as of the Record Date on their face and shall entitle the holders thereof to purchase such number of one one-thousandths of a share of Preferred
Stock as shall be set forth therein at the Purchase Price (as determined pursuant to Section 7 hereof), but the amount and type of securities purchasable upon the exercise of each Right and the Purchase Price thereof shall be subject to
adjustment as provided herein. 
 5. COUNTERSIGNATURE AND REGISTRATION. 

(a) Execution. The Right Certificates shall be executed on behalf of the Company by its Chairman of the Board, the President, an
Executive Vice President or a Vice President, and by the Treasurer, an Assistant Treasurer, the Secretary or an Assistant Secretary of the Company (each, an “Authorized Officer”), either manually or by facsimile signature and
shall have affixed thereto the Company’s seal or a facsimile thereof, if any, which shall be attested by the Secretary or an Assistant Secretary of the Company, either manually or by facsimile signature. The Right Certificates shall be
countersigned by the Rights Agent, either manually or by facsimile signature, and shall not be valid for any purpose unless countersigned. In case any officer of the Company who shall have signed any of the Right Certificates shall cease to be such
officer of the Company before countersignature by the Rights Agent and issuance and delivery by the Company, such Right Certificates, nevertheless, may be countersigned by the Rights Agent and issued and delivered by the Company with the same force
and effect as though the Person who signed such Right Certificates had not ceased to be such officer of the Company; and any Right Certificate may be signed on behalf of the Company by any Person who, at the actual date of the execution of such
Right Certificate, shall be a proper officer of the Company to sign such Right Certificate, although at the date of the execution of this Rights Agreement any such Person was not such an officer. 

(b) Books and Records. Following the Distribution Date, the Rights Agent will keep, or cause to be kept, at its office designated
for such purpose, books for registration and transfer of the Right Certificates issued hereunder. Such books shall show the names and addresses of the respective holders of the Right Certificates, the number of Rights evidenced on its face by each
of the Right Certificates and the date of each of the Right Certificates. 

  
 11 

	 	6.	TRANSFER, SPLIT UP, COMBINATION AND EXCHANGE OF RIGHT CERTIFICATES;
MUTILATED, DESTROYED, LOST OR STOLEN RIGHT CERTIFICATES. 

(a) Transfer, Split Up, Combination and Exchange of Right Certificates. Subject to the provisions of this Rights Agreement, at
any time after the Close of Business on the Distribution Date, and prior to the Close of Business on the Expiration Date, any Right Certificate or Right Certificates (other than Right Certificates representing Rights that have become null and void
pursuant to Section 11(a)(ii) hereof or that have been exchanged pursuant to Section 24 hereof) may be transferred, split up, combined or exchanged for another Right Certificate or Right Certificates, entitling the registered
holder to purchase a like number of one one-thousandths of a share of Preferred Stock (or, following such time, other securities, cash or assets as the case may be) as the Right Certificate or Right Certificates surrendered then entitled such holder
to purchase. Any registered holder desiring to transfer, split up, combine or exchange any Right Certificate or Right Certificates shall make such request in writing delivered to the Rights Agent, and shall surrender, together with any required form
or assignment and certificate duly completed, the Right Certificate or Right Certificates to be transferred, split up, combined or exchanged at the office of the Rights Agent designated for such purpose. Neither the Rights Agent nor the Company
shall be obligated to take any action whatsoever with respect to the transfer of any such surrendered Right Certificate or Certificates until the registered holder thereof shall have (i) completed and signed the certificate contained in the
form of assignment on the reverse side of each such Right Certificate or Certificates and (ii) provided such additional evidence of the identity of the Beneficial Owner (or former Beneficial Owner) or any Related Person thereof as the Company
shall reasonably request. Thereupon, the Rights Agent, subject to the provisions of this Rights Agreement, shall countersign and deliver to the Person entitled thereto a Right Certificate or Right Certificates, as the case may be, as so requested.
The Company may require payment of a sum sufficient to cover any tax or charge that may be imposed in connection with any transfer, split up, combination or exchange of such Right Certificates. 

(b) Mutilated, Destroyed, Lost or Stolen Right Certificates. Subject to the provisions of this Rights Agreement, at any time
after the Distribution Date and prior to the Expiration Date, upon receipt by the Company and the Rights Agent of evidence reasonably satisfactory to them of the loss, theft, destruction or mutilation of a Right Certificate, and, in case of loss,
theft or destruction, of indemnity or security reasonably satisfactory to them, and reimbursement to the Company and the Rights Agent of all reasonable expenses incidental thereto, and upon surrender to the Rights Agent and cancellation of the Right
Certificate if mutilated, the Company will execute and deliver a new Right Certificate of like tenor to the Rights Agent for countersignature and delivery to the registered holder in lieu of the Right Certificate so lost, stolen, destroyed or
mutilated. 

  
 12 

 7. EXERCISE OF RIGHTS,
PURCHASE PRICE; EXPIRATION DATE OF RIGHTS. 

(a) Exercise of Rights. Subject to Section 11(a)(ii) hereof and except as otherwise provided herein, the Rights shall
become exercisable on the Distribution Date, and thereafter the registered holder of any Right Certificate may exercise the Rights evidenced thereby in whole or in part at any time after the Distribution Date upon surrender of the Right Certificate,
with the form of election to purchase and certification on the reverse side thereof duly executed, to the Rights Agent at the office of the Rights Agent designated for such purpose, together with payment of the aggregate Purchase Price for the total
number of one one-thousandths of a share of Preferred Stock (or other securities, cash or assets, as the case may be) as to which the Rights are exercised, at any time which is both after the Distribution Date and prior to the earlier of
(i) the Close of Business on March 31, 2017, or such later date as may be established by the Board of Directors prior to the expiration of the Rights (such date, as it may be extended by the Board of Directors, the “Final
Expiration Date”), or (ii) the time at which the Rights are redeemed or exchanged as provided in Sections 23 and 24 hereof (the earlier of (i) and (ii) being herein referred to as the
“Expiration Date”). 
 (b) Purchase Price. The purchase price (the “Purchase
Price”) for each one one-thousandth of a share of Preferred Stock pursuant to the exercise of a Right initially shall be $330.00, shall be subject to adjustment from time to time as provided in Sections 11 and 13 hereof
and shall be payable in lawful money of the United States of America in accordance with Section 7(c) hereof. 
 (c)
Payment Procedures. Upon receipt of a Right Certificate representing exercisable Rights, with the form of election to purchase and the certificate duly executed, accompanied by payment, with respect to each Right so exercised, of the
Purchase Price for each one one-thousandth of a share of Preferred Stock to be purchased and an amount equal to the any applicable tax required to be paid by the holder of such Right Certificate in accordance with Section 9 hereof, the
Rights Agent shall, subject to Section 20(j) hereof, thereupon promptly (i) (A) requisition from any transfer agent of the Preferred Stock or make available, if the Rights Agent is the transfer agent for the Preferred Stock,
certificates for the number of shares of Preferred Stock to be purchased (and the Company hereby irrevocably authorizes its transfer agent to comply with all such requests), or (B) if the Company shall have elected to deposit the total number
of shares of Preferred Stock issuable upon exercise of the Rights hereunder with a depository agent, requisition from the depositary agent appointed by the Company depositary receipts representing interests in such number of one one-thousandths of a
share of Preferred Stock as are to be purchased (in which case certificates for the shares of Preferred Stock represented by such receipts shall be deposited by the transfer agent with the depositary agent) and the Company will direct the depositary
agent to comply with all such requests, (ii) when appropriate, requisition from the Company the amount of cash to be paid in lieu of the issuance of fractional shares in accordance with Section 14 hereof, (iii) after receipt of
such Preferred Stock certificates or depositary receipts, cause the same to be delivered to or, upon the order of the registered holder of such Right Certificate, registered in such name or names as may be designated by such holder and
(iv) when appropriate, after receipt thereof, promptly deliver such cash to or upon the order of the registered holder of such Right Certificate. The payment of the Purchase Price shall be made in cash or by certified bank check or bank draft
or money order payable to the order of the Company. In the event that the Company issues other securities 

  
 13 

 
(including Common Stock) of the Company, pays cash and/or distributes other property pursuant to Section 11(a) hereof, the Company will make all arrangements necessary so that
such other securities, cash and/or other property are available for distribution by the Rights Agent, if and when appropriate.
 (d)
Partial Exercise. In case the registered holder of any Right Certificate shall exercise less than all the Rights evidenced thereby, a new Right Certificate evidencing Rights equivalent to the exercisable Rights remaining unexercised shall
be issued by the Rights Agent and delivered to the registered holder of such Right Certificate or to his duly authorized assigns, subject to the provisions of Section 14 hereof. 

(e) Full Information Concerning Ownership. Notwithstanding anything in this Rights Agreement to the contrary, neither the Rights
Agent nor the Company shall be obligated to undertake any action with respect to a registered holder of Rights upon the occurrence of any purported exercise as set forth in this Section 7 hereof unless such registered holder shall have
(i) completed and signed the certificate contained in the form of election to purchase set forth on the reverse side of the Right Certificate surrendered for such exercise and (ii) provided such additional evidence of the identity of the
Beneficial Owner (or former Beneficial Owner) or any Related Person thereof as the Company shall reasonably request. 
 8.
CANCELLATION AND DESTRUCTION OF RIGHT CERTIFICATES. All Right Certificates surrendered for the purpose of exercise, transfer, split up, combination or exchange
shall, if surrendered to the Company or to any of its agents, be delivered to the Rights Agent for cancellation or in cancelled form, or, if surrendered to the Rights Agent, shall be cancelled by it, and no Right Certificates shall be issued in lieu
thereof except as expressly permitted by any of the provisions of this Rights Agreement. The Company shall deliver to the Rights Agent for cancellation and retirement, and the Rights Agent shall so cancel and retire, any other Right Certificate
purchased or acquired by the Company otherwise than upon the exercise thereof. The Rights Agent shall deliver all cancelled Right Certificates to the Company, or shall, at the written request of the Company, destroy such cancelled Right
Certificates, and in such case shall deliver a certificate of destruction thereof to the Company. 
 9. AVAILABILITY
OF SHARES OF PREFERRED STOCK. 
 (a) Reservation of
Securities. The Company covenants and agrees that it will cause to be reserved and kept available out of its authorized and unissued shares of Preferred Stock (and, following a Trigger Event, out of its authorized and unissued Common Stock
and/or other securities or out its authorized and issued shares held in its treasury), the number of shares of Preferred Stock (and, following a Trigger Event, Common Stock and/or other securities) that will be sufficient to permit the exercise in
full of all outstanding Rights. 
 (b) Listing of Securities. So long as the shares of Preferred Stock (and, following a
Trigger Event, Common Stock and/or other securities) issuable and deliverable upon the exercise of the Rights may be listed on any national securities exchange or quoted in the over-the-counter market, the Company shall use its best efforts to
cause, from and after such time as the Rights become exercisable, all shares reserved for such issuance to be listed on such exchange or quoted in the over-the-counter market upon official notice of issuance upon such exercise. 

  
 14 

 (c) Registration of Securities. From and after such time as the Rights become
exercisable, the Company shall use its best efforts, if then necessary to permit the issuance of shares of Preferred Stock (and following a Trigger Event, shares of Common Stock and other securities) upon the exercise of Rights, to register and
qualify such shares of Preferred Stock (and following a Trigger Event, shares of Common Stock and other securities) under the Securities Act and any applicable state securities or “Blue Sky” laws (to the extent exemptions therefrom are not
available), cause such registration statement and qualifications to become effective as soon as possible after such filing and keep such registration and qualifications effective until the Expiration Date. The Company may temporarily suspend, for a
period of time not to exceed 90 days, the exercisability of the Rights in order to prepare and file a registration statement under the Securities Act and permit it to become effective. Upon any such suspension, the Company shall issue a public
announcement stating that the exercisability of the Rights has been temporarily suspended, as well as a public announcement at such time as the suspension is no longer in effect. Notwithstanding any provision of this Rights Agreement to the
contrary, the Rights shall not be exercisable in any jurisdiction unless the requisite qualification in such jurisdiction shall have been obtained and until a registration statement under the Securities Act (if required) shall have been declared
effective. 
 (d) Authorization of Securities. The Company covenants and agrees that it will take all such action as may be
necessary to ensure that all shares of Preferred Stock (and, following a Trigger Event, shares of Common Stock and/or other securities) delivered upon exercise of Rights shall, at the time of delivery of the certificates for such shares (subject to
payment of the Purchase Price), be duly and validly authorized and issued and fully paid and nonassessable. 
 (e) Payment of Taxes
and Charges. The Company further covenants and agrees that it will pay when due and payable any and all federal and state taxes and charges which may be payable in respect of the issuance or delivery of the Right Certificates or of any shares of
Preferred Stock (or Common Stock and/or other securities, as the case may be) upon the exercise of Rights. The Company shall not, however, be required to pay any tax which may be payable in respect of any transfer or delivery of Right Certificates
to a Person other than, or the issuance or delivery of certificates or depositary receipts for the Preferred Stock (or Common Stock and/or other securities, as the case may be) in a name other than that of, the registered holder of the Right
Certificate evidencing Rights surrendered for exercise or to issue or deliver any certificates or depositary receipts for Preferred Stock (or Common Stock and/or other securities, as the case may be) in a name other than that of the registered
holder upon the exercise of any Rights until any such tax shall have been paid (any such tax being payable by the holder of such Right Certificate at the time of surrender) or until it has been established to the Company’s satisfaction that no
such tax is due. 
 10. PREFERRED STOCK RECORD DATE. Each Person in whose
name any certificate for Preferred Stock (or Common Stock and/or other securities, as the case may be) is issued upon the exercise of Rights shall for all purposes be deemed to have become the holder of record of the shares of Preferred Stock (or
Common Stock and/or other securities, as the case may be) 

  
 15 

 
represented thereby on, and such certificate shall be dated, the date upon which the Right Certificate evidencing such Rights was duly surrendered and payment of the Purchase Price (and any
applicable taxes) was made; provided, however, that if the date of such surrender and payment is a date upon which the Preferred Stock (or Common Stock and/or other securities, as the case may be) transfer books of the Company are
closed, such Person shall be deemed to have become the record holder of such shares (fractional or otherwise) on, and such certificate shall be dated, the next succeeding Business Day on which the Preferred Stock (or Common Stock and/or other
securities, as the case may be) transfer books of the Company are open. Prior to the exercise of the Rights evidenced thereby, the holder of a Right Certificate shall not be entitled to any rights of a stockholder of the Company with respect to such
shares for which the Rights shall be exercisable, including, without limitation, the right to vote, to receive dividends or other distributions, and shall not be entitled to receive any notice of any proceedings of the Company, except as provided
herein. 
 11. ADJUSTMENT OF PURCHASE PRICE, NUMBER
AND KIND OF SHARES OR NUMBER OF RIGHTS. The Purchase Price, the number of shares of Preferred Stock or other securities or
property purchasable upon exercise of each Right and the number of Rights outstanding are subject to adjustment from time to time as provided in this Section 11. 

(a) Post-Execution Events. 

(i) Corporate Dividends, Reclassifications, Etc. In the event the Company shall at any time after the date of the Original
Agreement (A) declare a dividend on the Preferred Stock payable in shares of Preferred Stock, (B) subdivide the outstanding shares of Preferred Stock, (C) combine the outstanding shares of Preferred Stock into a smaller number of
shares of Preferred Stock or (D) issue any shares of its capital stock in a reclassification of the shares of Preferred Stock (including any such reclassification in connection with a consolidation or merger in which the Company is the
continuing or surviving corporation), except as otherwise provided in this Section 11(a), the Purchase Price in effect at the time of the record date for such dividend or of the effective date of such subdivision, combination or
reclassification, as the case may be, and the number and kind of shares of capital stock issuable on such date, shall be proportionately adjusted so that the holder of any Right exercised after such time shall be entitled to receive the aggregate
number and kind of shares of capital stock which, if such Right had been exercised immediately prior to such date and at a time when the Preferred Stock transfer books of the Company were open, the holder would have owned upon such exercise and been
entitled to receive, upon payment of the Purchase Price then in effect, by virtue of such dividend, subdivision, combination or reclassification; provided, however, that in no event shall the consideration to be paid upon the exercise
of one Right be less than the aggregate par value of the shares of capital stock of the Company issuable upon exercise of one Right. If an event occurs which would require an adjustment under both this Section 11(a)(i) and
Section 11(a)(ii) hereof, the adjustment provided for in this Section 11(a)(i) shall be in addition to, and shall be made prior to, any adjustment required pursuant to Section 11(a)(ii) hereof. 

(ii) Acquiring Person Events; Triggering Events. Subject to Sections 23 and 24 of this Rights Agreement, and
except as provided in this Section 11(a)(ii) and Section 11(a)(iii) hereof, in the event that a Trigger Event occurs, then, from and after the occurrence of such event, each holder of a Right shall thereafter have the right
to receive, upon exercise thereof 

  
 16 

 
at a price equal to the then-current Purchase Price, in accordance with the terms of this Rights Agreement and in lieu of shares of Preferred Stock, such number of shares of Common Stock as shall
equal the result obtained by (A) multiplying the then-current Purchase Price by the number of one one-thousandths of a share of Preferred Stock for which a Right is then exercisable and (B) dividing that product by 50% of the then-current
per share market price of the Company’s Common Stock (determined pursuant to Section 11(d) hereof) on the date of the occurrence of the Trigger Event (the “Adjustment Shares”); provided,
however, that the Purchase Price and the number of Adjustment Shares shall thereafter be subject to further adjustment as appropriate in accordance with Section 11(f) hereof. Notwithstanding the foregoing, upon the occurrence of
Trigger Event, any Rights that are or were acquired or beneficially owned by (x) any Acquiring Person (or any Related Person thereof), (y) a transferee of any Acquiring Person (or of any such Related Person thereof) who becomes a
transferee after the Trigger Event or (z) a transferee of any Acquiring Person (or of any Related Person thereof) who becomes a transferee prior to or concurrently with the Trigger Event and receives such Rights pursuant to either (I) a
transfer (whether or not for consideration) from the Acquiring Person to holders of equity interests in such Acquiring Person or to any Person with whom the Acquiring Person has any continuing agreement, arrangement or understanding (whether or not
in writing) regarding the transferred Rights or (II) a transfer that the Board of Directors has determined is part of a plan, arrangement or understanding (whether or not in writing) which has as a primary purpose or effect of avoiding this
Section 11(a)(ii), and subsequent transferees of such Persons, shall be null and void without any further action and any holder (whether or not such holder is an Acquiring Person or Related Person thereof) of such Rights shall thereafter
have no right to exercise such Rights under any provision of this Rights Agreement. From and after the Trigger Event, no Right Certificate shall be issued pursuant to Sections 3 or 6 hereof that represents Rights that are or have
become null and void pursuant to the provisions of this paragraph, and any Right Certificate delivered to the Rights Agent that represents Rights that are or have become null and void pursuant to the provisions of this paragraph shall be cancelled.
The Company shall use all reasonable efforts to ensure that the provisions of this Section 11(a)(ii) are complied with, but shall have no liability to any holder of Right Certificates or other Person as a result of its failure to make
any determinations with respect to any Acquiring Person or its Related Persons or transferees hereunder. From and after the occurrence of an event specified in Section 13(a) hereof, any Rights that theretofore have not been exercised
pursuant to this Section 11(a)(ii) shall thereafter be exercisable only in accordance with Section 13 hereof and not pursuant to this Section 11(a)(ii). 

(iii) Insufficient Shares. The Company may at its option substitute for a share of Common Stock issuable upon the exercise of
Rights in accordance with Section 11(a)(ii) hereof such number or fractions of shares of Preferred Stock having an aggregate current market value equal to the current per share market price of a share of Common Stock. In the event that
upon the occurrence of a Trigger Event there shall not be sufficient shares of Common Stock authorized but unissued, or held by the Company as treasury shares, to permit the exercise in full of the Rights in accordance with
Section 11(a)(ii) hereof, the Company shall take all such action as may be necessary to authorize additional shares of Common Stock for issuance upon exercise of the Rights, provided, however, that if the Company determines
that it is unable to cause the authorization of a sufficient number of additional shares of Common Stock, then, in the event the Rights become exercisable, the Company, with respect to each Right and to the extent permitted by applicable law and any
material agreements or instruments then in 

  
 17 

 
effect to which it is a party, shall (A) determine the excess of (x) the value of the Adjustment Shares issuable upon the exercise of a Right (the “Current
Value”) over (y) the then-current Purchase Price multiplied by the number of one one-thousandths of shares of Preferred Stock for which a Right was exercisable immediately prior to the time that the Acquiring Person became such
(such excess, the “Spread”), and (B) with respect to each Right (other than Rights which have become null and void pursuant to Section 11(a)(ii) hereof), make adequate provision to substitute for Adjustment
Shares and payment of the applicable Purchase Price, (1) cash, (2) a reduction in the Purchase Price, (3) shares of Preferred Stock or other equity securities of the Company (including, without limitation, shares or fractions of
shares of preferred stock which, by virtue of having dividend, voting and liquidation rights substantially comparable to those of the shares of Common Stock, are deemed in good faith by the Board of Directors to have substantially the same value as
the shares of Common Stock (such shares of preferred stock and shares or fractions of shares of preferred stock, the “Common Stock Equivalents”), (4) debt securities of the Company, (5) other assets or (6) any
combination of the foregoing, having an aggregate value equal to the Current Value, where such aggregate value has been determined by the Board of Directors based upon the advice of a nationally recognized investment banking firm selected in good
faith by the Board of Directors; provided, however, that if the Company shall not have made adequate provision to deliver value pursuant to clause (B) above within 30 days following but not including the date of the Trigger Event,
then the Company shall be obligated to deliver, to the extent necessary and permitted by applicable law and any material agreements or instruments then in effect to which it is a party, upon the surrender for exercise of a Right and without
requiring payment of the Purchase Price, shares of Common Stock (to the extent available), and then, if necessary, such number or fractions of shares of Preferred Stock (to the extent available) and then, if necessary, cash, which shares and/or cash
have an aggregate value equal to the Spread. If the Board of Directors shall determine in good faith that it is likely that sufficient additional shares of Common Stock could be authorized for issuance upon exercise in full of the Rights, then the
30 day period set forth above may be extended and re-extended to the extent necessary, but not more than 90 days after but not including the date of the Trigger Event, in order that the Company may seek stockholder approval for the authorization of
such additional shares (such period, as may be extended, the “Substitution Period”). To the extent that the Company determines that some action need be taken pursuant to the second and/or third sentences of this
Section 11(a)(iii), the Company (x) shall provide, subject to Section 11(a)(ii) hereof and the last sentence of this Section 11(a)(iii), that such action shall apply uniformly to all outstanding Rights and
(y) may suspend the exercisability of the Rights until the expiration of the Substitution Period in order to seek any authorization of additional shares and/or to decide the appropriate form of distribution to be made pursuant to such second
sentence and to determine the value thereof. In the event of any such suspension, the Company shall issue a public announcement stating that the exercisability of the Rights has been temporarily suspended, as well as a public announcement at such
time as the suspension is no longer in effect. For purposes of this Section 11(a)(iii), the value of a share of Common Stock shall be the current per share market price (as determined pursuant to Section 11(d)(i) hereof) on
the date of the Trigger Event and the per share value of any Common Stock Equivalent shall be deemed to have the same value as the Common Stock on such date. The Board of Directors may, but shall not be required to, establish procedures to allocate
the right to receive shares of Common Stock upon the exercise of the Rights among holders of Rights pursuant to this Section 11(a)(iii). 

  
 18 

 (b) Dilutive Rights Offering. In case the Company shall fix a record date for the
issuance of rights, options or warrants to all holders of Preferred Stock entitling them to subscribe for or purchase (for a period expiring within 45 calendar days after such record date) Preferred Stock (or shares having similar rights, privileges
and preferences as the Preferred Stock (“Equivalent Preferred Stock”)) or securities convertible into Preferred Stock or Equivalent Preferred Stock at a price per share of Preferred Stock or Equivalent Preferred Stock (or
having a conversion or exercise price per share, if a security convertible into or exercisable for shares of Preferred Stock or Equivalent Preferred Stock) less than the then-current per share market price of the Preferred Stock (as determined
pursuant to Section 11(d) hereof) on such record date, the Purchase Price to be in effect after such record date shall be determined by multiplying the Purchase Price in effect immediately prior to such record date by a fraction, the
numerator of which shall be the number of shares of Preferred Stock and Equivalent Preferred Stock outstanding on such record date plus the number of shares of Preferred Stock and Equivalent Preferred Stock which the aggregate offering price of the
total number of such shares so to be offered (and/or the aggregate initial conversion price of the convertible securities so to be offered) would purchase at such current market price, and the denominator of which shall be the number of shares of
Preferred Stock and Equivalent Preferred Stock outstanding on such record date plus the number of additional shares of Preferred Stock and/or Equivalent Preferred Stock to be offered for subscription or purchase (or into which the convertible
securities so to be offered are initially convertible); provided, however, that in no event shall the consideration to be paid upon the exercise of one Right be less than the aggregate par value of the shares of capital stock of the
Company issuable upon exercise of one Right. In case such subscription price may be paid in a consideration part or all of which shall be in a form other than cash, the value of such consideration shall be as determined in good faith by the Board of
Directors, whose determination shall be described in a statement filed with the Rights Agent and shall be binding on the Rights Agent and the holder of the Rights. Shares of Preferred Stock and Equivalent Preferred Stock owned by or held for the
account of the Company shall not be deemed outstanding for the purpose of any such computation. Such adjustments shall be made successively whenever such a record date is fixed; and in the event that such rights, options or warrants are not so
issued, the Purchase Price shall be adjusted to be the Purchase Price which would then be in effect if such record date had not been fixed. 

(c) Distributions. In case the Company shall fix a record date for the making of a distribution to all holders of the Preferred
Stock (including any such distribution made in connection with a consolidation or merger in which the Company is the continuing or surviving corporation) of evidences of indebtedness or assets (other than a regular quarterly cash dividend or a
dividend payable in Preferred Stock), or subscription rights, options or warrants (excluding those referred to in Section 11(b) hereof), the Purchase Price to be in effect after such record date shall be determined by multiplying the
Purchase Price in effect immediately prior to such record date by a fraction, the numerator of which shall be the then-current per share market price of the Preferred Stock (as determined pursuant to Section 11(d) hereof) on such record
date, less the fair market value (as determined in good faith by the Board of Directors whose determination shall be described in a statement filed with the Rights Agent) of the portion of such assets or evidences of indebtedness so to be
distributed or of such subscription rights, options or warrants applicable to one share of Preferred Stock, and the denominator of which shall be such current per share market price of the Preferred Stock (as determined pursuant to
Section 11(d) hereof); provided, however, that in no event shall the consideration to be paid upon the exercise of one 

  
 19 

 
Right be less than the aggregate par value of the shares of capital stock of the Company to be issued upon exercise of one Right. Such adjustments shall be made successively whenever such a
record date is fixed; and in the event that such distribution is not so made, the Purchase Price shall again be adjusted to be the Purchase Price which would then be in effect if such record date had not been fixed. 

(d) Current Per Share Market Price. 

(i) General. Except as otherwise provided herein, for the purpose of any computation hereunder, the “current per share
market price” of any security (a “Security” for the purpose of this Section 11(d)(i)) on any date shall be deemed to be the average of the daily closing prices per share of such Security for the 30
consecutive Trading Days (as such term is hereinafter defined) immediately prior to but not including such date; provided, however, that in the event that the current per share market price of the Security is determined during a period
following the announcement by the issuer of such Security of (A) a dividend or distribution on such Security payable in shares of such Security or securities convertible into such shares, or (B) any subdivision, combination or
reclassification of such Security, and prior to the expiration of the 30 Trading Days after but not including the ex-dividend date for such dividend or distribution, or the record date for such subdivision, combination or reclassification, then, and
in each such case, the current per share market price shall be appropriately adjusted to reflect the current market price per share equivalent of such Security. The closing price for each day shall be the last sale price, regular way, or, in case no
such sale takes place on such day, the average of the closing bid and asked prices, regular way, in either case as reported by (w) the principal consolidated transaction reporting system with respect to securities listed or admitted to trading
on the NASDAQ or, (x) if the Security is not listed or admitted to trading on the NASDAQ, as reported in the principal consolidated transaction reporting system with respect to securities listed on the principal national securities exchange on
which the Security is listed or admitted to trading or, if (y) the Security is not listed or admitted to trading on any national securities exchange, the last quoted price or, if not so quoted, the average of the high bid and low asked prices
in the over-the-counter market, as reported by the NASDAQ or such system then in use, or, (z) if on any such date the Security is not quoted by any such organization, the average of the closing bid and asked prices as furnished by a
professional market maker making a market in the Security selected by the Board of Directors. The term “Trading Day” shall mean a day on which the principal national securities exchange on which the Security is listed or
admitted to trading is open for the transaction of business or, if the Security is not listed or admitted to trading on any national securities exchange, a Business Day. If the Security is not publicly held or not so listed or traded, or if on any
such date the Security is not so quoted and no such market maker is making a market in the Security, “current per share market price” shall mean the fair value per share as determined in good faith by the Board of Directors or, if at the
time of such determination there is an Acquiring Person, by a nationally recognized investment banking firm selected by the Board of Directors, which shall have the duty to make such determination in a reasonable and objective manner, whose
determination shall be described in a statement filed with the Rights Agent and shall be conclusive for all purposes. 

  
 20 

 (ii) Preferred Shares. Notwithstanding Section 11(d)(i) hereof, for
the purpose of any computation hereunder, the “current per share market price” of the Preferred Stock shall be determined in the same manner as set forth above in Section 11(d)(i) hereof (other than the last sentence
thereof). If the current per share market price of the Preferred Stock cannot be determined in the manner described in Section 11(d)(i) hereof, the current per share market price of the Preferred Stock shall be conclusively deemed
to be an amount equal to 1,000 (as such number may be appropriately adjusted for such events as stock splits, stock dividends and recapitalizations with respect to the Common Stock occurring after the date of this Rights Agreement) multiplied by the
current per share market price per share of the Common Stock (as determined pursuant to Section 11(d)(i) hereof). If neither the Common Stock nor the Preferred Stock are so quoted and no such market maker is making a market in
either the Common Stock or the Preferred Stock, the “current per share market price” of the Preferred Stock shall mean the fair value per share as determined in good faith by the Board of Directors, of, if at the time of such determination
there is an Acquiring Person, by a nationally recognized investment banking firm selected by the Board of Directors, which shall have the duty to make such determination in a reasonable and objective manner, which determination shall be described in
a statement filed with the Rights Agent and shall be conclusive for all purposes. 
 (e) Insignificant Changes. No adjustment
in the Purchase Price shall be required unless such adjustment would require an increase or decrease of at least 1% in the Purchase Price; provided, however, that any adjustments which by reason of this Section 11(e) are
not required to be made shall be carried forward and taken into account in any subsequent adjustment. All calculations under this Section 11 shall be made to the nearest cent or to the nearest one ten-thousandth of a share of Preferred
Stock or the nearest one-thousandth of a share of Common Stock or other share or security as the case may be. Notwithstanding the first sentence of this Section 11(e), any adjustment required by this Section 11 shall be made
no later than the earlier of (i) three years from the date of the transaction which mandates such adjustment or (ii) the Expiration Date. 

(f) Shares Other Than Preferred Shares. If as a result of an adjustment made pursuant to Section 11(a) hereof, the
holder of any Right thereafter exercised shall become entitled to receive any shares of capital stock of the Company other than the Preferred Stock, thereafter the number of such other shares so receivable upon exercise of any Right and the Purchase
Price thereof shall be subject to adjustment from time to time in a manner and on terms as nearly equivalent as practicable to the provisions with respect to the Preferred Stock contained in this Section 11 and the provisions of
Sections 7, 9, 10, 13 and 14 hereof with respect to the Preferred Stock shall apply on like terms to any such other shares. 

(g) Rights Issued After Adjustment. All Rights originally issued by the Company subsequent to any adjustment made to the
Purchase Price hereunder shall evidence the right to purchase, at the adjusted Purchase Price, the number of one one-thousandths of a share of Preferred Stock purchasable from time to time hereunder upon exercise of the Rights, all subject to
further adjustment as provided herein. 
 (h) Effect of Adjustments. Unless the Company shall have exercised its election as
provided in Section 11(i) hereof, upon each adjustment of the Purchase Price as a result of the calculations made in Sections 11(b) and (c) hereof, each Right outstanding immediately prior to the making of such
adjustment shall thereafter evidence the right to purchase, at the adjusted Purchase Price, that number of one one-thousandths of a share of Preferred Stock (calculated to the nearest one ten-thousandth) obtained by (i) multiplying (A) the

  
 21 

 
number of one one-thousandths of a share of Preferred Stock covered by a Right immediately prior to this adjustment by (B) the Purchase Price in effect immediately prior to such adjustment
of the Purchase Price and (ii) dividing the product so obtained by the Purchase Price in effect immediately after such adjustment of the Purchase Price. 

(i) Adjustment in Number of Rights. The Company may elect on or after the date of any adjustment of the Purchase Price to adjust
the number of Rights, in lieu of any adjustment in the number of one one-thousandths of a share of Preferred Stock purchasable upon the exercise of a Right. Each of the Rights outstanding after the adjustment in the number of Rights shall be
exercisable for the number of one one-thousandths of a share of Preferred Stock for which a Right was exercisable immediately prior to such adjustment. Each Right held of record prior to such adjustment of the number of Rights shall become that
number of Rights (calculated to the nearest one ten-thousandth) obtained by dividing the Purchase Price in effect immediately prior to adjustment of the Purchase Price by the Purchase Price in effect immediately after adjustment of the Purchase
Price. The Company shall make a public announcement of its election to adjust the number of Rights, indicating the record date for the adjustment, and, if known at the time, the amount of the adjustment to be made. This record date may be the date
on which the Purchase Price is adjusted or any day thereafter, but, if the Right Certificates have been issued, shall be at least 10 days later than the date of the public announcement. If Right Certificates have been issued, upon each adjustment of
the number of Rights pursuant to this Section 11(i), the Company may, as promptly as practicable, cause to be distributed to holders of record of Right Certificates on such record date Right Certificates evidencing, subject to
Section 14 hereof, the additional Rights to which such holders shall be entitled after such adjustment, or, at the option of the Company, shall cause to be distributed to such holders of record in substitution and replacement for the
Right Certificates held by such holders prior to the date of adjustment, and upon surrender thereof, if required by the Company, new Right Certificates evidencing all the Rights to which such holders shall be entitled as a result of such adjustment.
Right Certificates so to be distributed shall be issued, executed and delivered by the Company, and countersigned and delivered by the Rights Agent in the manner provided for herein (and may bear, at the option of the Company, the adjusted Purchase
Price) and shall be registered in the names of the holders of record of Right Certificates on the record date specified in the public announcement. 

(j) Right Certificates Unchanged. Irrespective of any adjustment or change in the Purchase Price or the number of one
one-thousandths of a share of Preferred Stock issuable upon the exercise of the Rights, the Right Certificates theretofore and thereafter issued may continue to express the Purchase Price per one one-thousandth of a share and the number of one
one-thousandths of a share of Preferred Stock which were expressed in the initial Right Certificates issued hereunder. 
 (k) Par
Value Limitations. Before taking any action that would cause an adjustment reducing the Purchase Price below the then stated value, if any, of the number of one one-thousandths of a share of Preferred Stock issuable upon exercise of the Rights,
the Company shall take any corporate action which may, in the opinion of its counsel, be necessary in order that the Company may validly and legally issue fully paid and nonassessable such number of one one-thousandths of a share of Preferred Stock
at such adjusted Purchase Price. 

  
 22 

 (l) Deferred Issuance. In any case in which this Section 11 shall
require that an adjustment in the Purchase Price be made effective as of a record date for a specified event, the Company may elect to defer until the occurrence of such event the issuance to the holder of any Right exercised after such record date
the Preferred Stock and other capital stock or securities of the Company, if any, issuable upon such exercise over and above the Preferred Stock and other capital stock or securities of the Company, if any, issuable upon such exercise on the basis
of the Purchase Price in effect prior to such adjustment; provided, however, that the Company shall deliver to such holder a due bill or other appropriate instrument evidencing such holder’s right to receive such additional shares
(fractional or otherwise) or securities upon the occurrence of the event requiring such adjustment. 
 (m) Reduction in Purchase
Price. Notwithstanding anything in this Section 11 to the contrary, the Company shall be entitled to make such reductions in the Purchase Price, in addition to those adjustments expressly required by this Section 11, as
and to the extent that it in its sole discretion shall determine to be advisable in order that any (i) consolidation or subdivision of the Preferred Stock, (ii) issuance wholly for cash of any shares of Preferred Stock at less than the
current market price, (iii) issuance wholly for cash of shares of Preferred Stock or securities which by their terms are convertible into or exchangeable for shares of Preferred Stock, (v) dividends on Preferred Stock payable in shares of
Preferred Stock or (vi) issuance of rights, options or warrants referred to hereinabove in this Section 11, hereafter made by the Company to holders of its Preferred Stock shall not be taxable to such stockholders. 

(n) Company Not to Diminish Benefit of Rights. The Company covenants and agrees that, after the earlier of the Distribution Date
or the Stock Acquisition Date, it will not, except as permitted by Sections 23, 24 or 27 hereof, take (or permit any Subsidiary to take) any action if at the time such action is taken it is reasonably foreseeable that such
action will diminish substantially or eliminate the benefits intended to be afforded by the Rights. 
 (o) Adjustment of Rights
Associated with Common Stock. Notwithstanding anything in this Rights Agreement to the contrary, in the event that the Company shall, at any time after the date of this Rights Agreement and prior to the Distribution Date, (i) declare or pay
any dividend on the outstanding shares of Common Stock payable in shares of Common Stock or (ii) effect a subdivision or consolidation of the Common Stock (by reclassification or otherwise than by the payment of a dividend payable in Common
Stock), (iii) combine the outstanding shares of Common Stock into a lesser number of shares of Common Stock, then in any such case, the number of Rights associated with each share of Common Stock then outstanding, or issued or delivered
thereafter, shall be proportionately adjusted so that the number of Rights thereafter associated with each share of Common Stock following any such event shall equal the result obtained by multiplying the number of Rights associated with each share
of Common Stock immediately prior to such event by a fraction the numerator of which shall be the total number of shares of Common Stock outstanding immediately prior to the occurrence of the event and the denominator of which shall be the total
number of shares of Common Stock outstanding immediately following the occurrence of such event. 

  
 23 

 12. CERTIFICATE OF ADJUSTED
PURCHASE PRICE OR NUMBER OF SHARES. Whenever an adjustment is made as provided in Section 11 or 13 hereof, the Company shall promptly
(a) prepare a certificate setting forth such adjustment or describing such event, and a brief, reasonably detailed statement of the facts, computations and methodology accounting for such adjustment, (b) file with the Rights Agent and with
each transfer agent for the Common Stock and the Preferred Stock a copy of such certificate and (c) if a Distribution Date has occurred, mail a brief summary thereof to each holder of a Right Certificate (or, if prior to the Distribution Date,
to each holder of a certificate representing shares of Common Stock) in accordance with Section 25 hereof. The Rights Agent shall be fully protected in relying on any such certificate and on any adjustment therein contained and shall not
be deemed to have knowledge of any such adjustment unless and until it shall have received such certificate. 
 13.
CONSOLIDATION, MERGER OR SALE OR TRANSFER OF ASSETS OR EARNINGS POWER. 

(a) Certain Transactions. In the event that, from and after the first occurrence of a Trigger Event, directly or indirectly,
(1) the Company shall consolidate with or merge with and into any other Person (other than one or more of its wholly-owned Subsidiaries), (2) any Person (other than one or more of its wholly-owned Subsidiaries), shall consolidate with the
Company, or any Person (other than one or more of its wholly-owned Subsidiaries), shall merge with and into the Company and the Company shall be the continuing or surviving corporation of such merger and, in connection with such merger, all or part
of the Common Stock shall be changed into or exchanged for stock or other securities of the Company or any other Person or cash or any other property, or (3) the Company shall sell, exchange, mortgage or otherwise transfer (or one or more of
its Subsidiaries shall sell, exchange, mortgage or otherwise transfer), in one or more transactions, assets, cash flow or earning power aggregating to 50% or more of the assets, cash flow or earning power of the Company and its Subsidiaries (taken
as a whole) to any other Person (other than the Company or one or more of its wholly-owned Subsidiaries in one or more transactions each of which complies with Section 11 hereof), then, and in each such case, proper provision shall be
made so that: 
 (i) each holder of a Right (other than Rights which have become null and void pursuant to
Section 11(a)(ii) hereof) shall thereafter have the right to receive, upon the exercise thereof at a price per right equal to the then-current Purchase Price multiplied by the number of one one-thousandths of a share of Preferred Stock
for which a Right was exercisable immediately prior to the first occurrence of a Trigger Event (each as subsequently adjusted thereafter pursuant to Section 11 hereof in accordance with the terms of this Rights Agreement and in lieu of
Preferred Stock, such number of validly authorized and issued, fully paid, non-assessable and freely tradable shares of Common Stock of the Principal Party (as defined below) not subject to any liens, encumbrances, rights of first refusal or other
adverse claims, as shall be equal to the result obtained by (x) multiplying the then-current Purchase Price by the number of one one-thousandths of a share of Preferred Stock for which a Right was exercisable immediately prior to the first
occurrence of a Trigger Event (as subsequently adjusted thereafter pursuant Section 11 hereof) and (y) dividing that product by 50% of the then-current per share market price of the Common Stock of such Principal Party (determined
pursuant to Section 11(d)(i) hereof) on the date of consummation of such consolidation, merger, sale or transfer; provided that the Purchase Price and the number of shares of Common Stock of such Principal Party issuable upon
exercise of each Right shall thereafter be subject to further adjustment as appropriate in accordance with Section 11(f) hereof to reflect any events covered thereby occurring in respect of the Common Shares of such Principal Party after
the occurrence of such consolidation, merger, sale or transfer; 

  
 24 

 (ii) such Principal Party shall thereafter be liable for, and shall assume, by virtue of
such consolidation, merger, sale or transfer, all the obligations and duties of the Company pursuant to this Rights Agreement; 

(iii) the term “Company” as used herein shall thereafter be deemed to refer to such Principal Party; and 

(iv) such Principal Party shall take such steps (including, but not limited to, the reservation of a sufficient number of its shares of
its Common Stock in accordance with Section 9 hereof) in connection with such consummation of any such transaction as may be necessary to assure that the provisions hereof shall thereafter be applicable, as nearly as reasonably may be,
in relation to the shares of its Common Stock thereafter deliverable upon the exercise of the Rights; provided that, upon the subsequent occurrence of any consolidation, merger, sale or transfer of assets or other extraordinary transaction in
respect of such Principal Party, each holder of a Right shall thereupon be entitled to receive, upon exercise of a Right and payment of the Purchase Price as provided in this Section 13(a), such cash, shares, rights, warrants and other
property which such holder would have been entitled to receive had such holder, at the time of such transaction, owned the Common Stock of the Principal Party receivable upon the exercise of a Right pursuant to this Section 13(a), and
such Principal Party shall take such steps (including, but not limited to, reservation of shares of stock) as may be necessary to permit the subsequent exercise of the Rights in accordance with the terms hereof for such cash, shares, rights,
warrants and other property. 
 (b) Principal Party. “Principal Party” shall mean: 

(i) in the case of any transaction described in clauses (1) or (2) of the first sentence of Section 13(a) hereof:
(A) the Person that is the issuer of the securities into which the shares of Common Stock are converted in such merger or consolidation, or, if there is more than one such issuer, the issuer of the shares of Common Stock of which have the
greatest aggregate market value of shares outstanding, or (B) if no securities are so issued, (x) the Person that is the other party to the merger, if such Person survives said merger, or, if there is more than one such Person, the Person
the shares of Common Stock of which have the greatest aggregate market value of shares outstanding or (y) if the Person that is the other party to the merger does not survive the merger, the Person that does survive the merger (including the
Company if it survives) or (z) the Person resulting from the consolidation; 
 (ii) in the case of any transaction described in
clause (3) of the first sentence in Section 13(a) hereof, the Person that is the party receiving the greatest portion of the assets, cash flow or earning power transferred pursuant to such transaction or transactions, or, if each
Person that is a party to such transaction or transactions receives the same portion of the assets, cash flow or earning power so transferred or if the Person receiving the greatest portion of the assets, cash flow or earning power cannot be
determined, whichever of such Persons is the issuer of Common Stock having the greatest aggregate market value of shares outstanding; and 

  
 25 

 (iii) in any such case described in Sections 13(b)(i) or (ii) hereof,
if the Common Stock of such Person is not at such time or has not been continuously over the preceding 12-month period registered under Section 12 of the Exchange Act, then (A) if such Person is a direct or indirect Subsidiary of another
Person the Common Stock of which is and has been so registered, the term “Principal Party” shall refer to such other Person, or (B) if such Person is a Subsidiary, directly or indirectly, of more than one Person, and the Common Stock
of all of such persons has been so registered, the term “Principal Party” shall refer to whichever of such Persons is the issuer of Common Stock having the greatest aggregate market value of shares outstanding, or (C) if such Person
is owned, directly or indirectly, by a joint venture formed by two or more Persons that are not owned, directly or indirectly, by the same Person, the rules set forth in clauses (A) or (B) above shall apply to each of the owners having an
interest in the venture as if the Person owned by the joint venture was a Subsidiary of both or all of such joint venturers, and the Principal Party in each such case shall bear the obligations set forth in this Section 13 in the same
ratio as its interest in such Person bears to the total of such interests. 
 (c) General Conditions on Consolidation, Merger, Sale
or Transfer. The Company shall not consummate any consolidation, merger, sale or transfer referred to in Section 13(a) hereof unless prior thereto the Company and the Principal Party involved therein shall have executed and delivered
to the Rights Agent an agreement confirming that the requirements of Section 13(a) and (b) hereof shall promptly be performed in accordance with their terms and that such consolidation, merger, sale or transfer of assets
shall not result in a default by the Principal Party under this Rights Agreement as the same shall have been assumed by the Principal Party pursuant to Section 13(a) and (b) hereof and providing that, as soon as practicable
after executing such agreement pursuant to this Section 13, the Principal Party will: 
 (i) prepare and file a
registration statement under the Securities Act, if necessary, with respect to the Rights and the securities purchasable upon exercise of the Rights on an appropriate form, use its best efforts to cause such registration statement to become
effective as soon as practicable after such filing and use its best efforts to cause such registration statement to remain effective (with a prospectus at all times meeting the requirements of the Securities Act) until the Expiration Date and
similarly comply with applicable state securities laws; 
 (ii) take all such other action as may be necessary to enable the
Principal Party to issue the securities purchasable upon exercise of the Rights, including but not limited to the registration or qualification of such securities under all requisite securities laws of jurisdictions of the various states and the
listing of such securities on such exchanges and trading markets as may be necessary or appropriate; 
 (iii) deliver to holders of
the Rights historical financial statements for the Principal Party which comply in all respects with the requirements for registration on Form 10 (or any successor form) under the Exchange Act; and 

(iv) obtain waivers of any rights of first refusal or preemptive rights in respect of the Common Stock of the Principal Party subject
to purchase upon exercise of outstanding Rights. 

  
 26 

 (d) Restrictions on Transfer Due to Principal Party. In case the Principal Party
has a provision in any of its authorized securities or in its certificate of incorporation or by-laws or other instrument governing its corporate affairs, which provision would have the effect of (i) causing such Principal Party to issue (other
than to holders of Rights pursuant to this Section 13), in connection with, or as a consequence of, the consummation of a transaction referred to in this Section 13, shares of Common Stock or Common Stock equivalents of such
Principal Party at less than the then-current market price per share thereof (determined pursuant to Section 11(d) hereof) or securities exercisable for, or convertible into, Common Stock or Common Stock equivalents of such Principal
Party at less than such then-current market price (other than to holders of Rights pursuant to this Section 13), or (ii) providing for any special payment, taxes or similar provision in connection with the issuance of the Common
Stock of such Principal Party pursuant to the provisions of this Section 13, then, in such event, the Company hereby agrees with each holder of Rights that it shall not consummate any such transaction unless prior thereto the Company and
such Principal Party shall have executed and delivered to the Rights Agent a supplemental agreement providing that the provision in question of such Principal Party shall have been canceled, waived or amended, or that the authorized securities shall
be redeemed, so that the applicable provision will have no effect in connection with, or as a consequence of, the consummation of the proposed transaction. 

(e) No Diminution of Rights. The Company covenants and agrees that it shall not, at any time after a Trigger Event enter into any
transaction of the type contemplated by Sections 13(a)(1)-(3) hereof if (i) at the time of or immediately after such consolidation, merger, sale, transfer or other transaction there are any rights, warrants or other instruments or
securities outstanding or agreements in effect which would substantially diminish or otherwise eliminate the benefits intended to be afforded by the Rights, (ii) prior to, simultaneously with or immediately after such consolidation, merger,
sale, transfer or other transaction, the stockholders of the Person who constitutes, or would constitute, the Principal Party for purposes of Section 13(b) hereof shall have received a distribution of Rights previously owned by such
Person or any of its Related Persons or (iii) the form or nature of organization of the Principal Party would preclude or limit the exercisability of the Rights. The provisions of this Section 13 shall similarly apply to successive
transactions of the type described in Sections 13(a)(1)-(3) hereof. 
 14. FRACTIONAL
RIGHTS AND FRACTIONAL SHARES. 
 (a) Cash in Lieu of Fractional
Rights. The Company shall not be required to issue fractions of Rights (except prior to the Distribution Date in accordance with Sections 11(i) or (o) hereof) or to distribute Right Certificates which evidence fractional
Rights. In lieu of such fractional Rights, the Company shall pay to the registered holders of the Right Certificates with regard to which such fractional Rights would otherwise be issuable, an amount in cash equal to the same fraction of the current
market value of a whole Right. For the purposes of this Section 14(a), the current market value of a whole Right shall be the closing price of the Rights for the Trading Day immediately prior to the date on which such fractional Rights
would have been otherwise issuable. The closing price of the Rights for any day shall be the last sale price, regular way, or, in case no such sale takes place on such day, the average of the closing bid and asked prices, regular way, in either case
as reported by (i) the principal consolidated transaction reporting system with respect to securities listed or admitted to trading on the NASDAQ, or (ii) if the Rights are not listed or admitted to trading on the NASDAQ, as reported in
the principal 

  
 27 

 
consolidated transaction reporting system with respect to securities listed on the principal national securities exchange on which the Rights are listed or admitted to trading, or (iii) if
the Rights are not listed or admitted to trading on any national securities exchange, the last quoted price or, if not so quoted, the average of the high bid and low asked prices in the over-the-counter market, as reported by the NASDAQ or such
other system then in use, or (iv) if on any such date the Rights are not quoted by any such organization, the average of the closing bid and asked prices as furnished by a professional market maker making a market in the Rights selected by the
Board of Directors. If on any such date no such market maker is making a market in the Rights, the fair value of the Rights on such date as determined in good faith by the Board of Directors shall be used. 

(b) Cash in Lieu of Fractional Preferred Shares. The Company shall not be required to issue fractions of shares of Preferred
Stock (other than fractions which are integral multiples of one one-thousandth of a share of Preferred Stock) upon exercise of the Rights or to distribute certificates which evidence fractional shares of Preferred Stock (other than fractions which
are integral multiples of one one-thousandth of a share of Preferred Stock). Interests in fractions of Preferred Stock in integral multiples of one one-thousandth of a share of Preferred Stock may, at the election of the Company, be evidenced by
depositary receipts, pursuant to an appropriate agreement between the Company and a depositary selected by it; provided, that such agreement shall provide that the holders of such depositary receipts shall have all the rights, privileges and
preferences to which they are entitled as beneficial owners of the Preferred Stock represented by such depositary receipts. In lieu of fractional shares of Preferred Stock that are not integral multiples of one one-thousandth of a share of Preferred
Stock, the Company may pay to the registered holders of Right Certificates at the time such Rights are exercised for shares of Preferred Stock as herein provided an amount in cash equal to the same fraction of the current market value of one share
of Preferred Stock. For purposes of this Section 14(b), the current market value of a share of Preferred Stock shall be the closing price of a share of Preferred Stock (as determined pursuant to Section 11(d) hereof) for the
Trading Day immediately prior to the date of such exercise. 
 (c) Cash in Lieu of Fractional Common Shares. The Company shall
not be required to issue fractions of shares of Common Stock or to distribute certificates which evidence fractional shares of Common Stock upon the exercise or exchange of Rights. In lieu of such fractional shares of Common Stock, the Company shall
pay to the registered holders of the Right Certificates at the time such Rights are exercised or exchanged for shares of Common Stock as herein provided an amount in cash equal to the same fraction of the current market value of one share of Common
Stock (as determined in accordance with Section 11(d)(i) hereof) on the Trading Day immediately prior to the date of such exercise or exchange. 

(d) Waiver of Right to Receive Fractional Rights or Shares. The holder of a Right by the acceptance of the Right expressly waives
the right to receive any fractional Rights or any fractional shares upon exercise or exchange of a Right (except as permitted by this Section 14). 

  
 28 

 15. RIGHTS OF ACTION. 

(a) Enforcement of Rights. All rights of action in respect of this Rights Agreement, excepting the rights of action given to the
Rights Agent under Section 18 hereof, are vested in the respective registered holders of the Right Certificates (and, prior to the Distribution Date, the registered holders of the Common Stock); and any registered holder of any Right
Certificate (or, prior to the Distribution Date, of the Common Stock), without the consent of the Rights Agent or of the holder of any other Right Certificate (or, prior to the Distribution Date, of the Common Stock), on such holder’s own
behalf and for such holder’s own benefit, may enforce, and may institute and maintain any suit, action or proceeding against the Company to enforce, or otherwise act in respect of, such holder’s right to exercise the Rights evidenced by
such Right Certificate (or, prior to the Distribution Date, such Common Stock) in the manner provided in such Right Certificate and in this Rights Agreement. Without limiting the foregoing or any remedies available to the holders of Rights, it is
specifically acknowledged that the holders of Rights would not have an adequate remedy at law for any breach of this Rights Agreement and shall be entitled to specific performance of the obligations under, and injunctive relief against actual or
threatened violations of the obligations of any Person subject to, this Rights Agreement. 
 (b) Liability of the Company and
Rights Agent. Notwithstanding anything in this Rights Agreement to the contrary, neither the Company nor the Rights Agent shall have any liability to any holder of a Right or other Person as a result of its inability to perform any of its
obligations under this Rights Agreement by reason of any preliminary or permanent injunction or other order, judgment, decree or ruling issued by a court or by a governmental, regulatory or administrative agency or commission, or any statute, rule,
regulation or executive order promulgated or enacted by any governmental authority, prohibiting or otherwise restraining performance of such obligation; provided, however, that the Company must use all reasonable efforts to have any
such injunction, order, judgment, decree or ruling lifted or otherwise overturned as soon as possible. 
 16.
AGREEMENT OF RIGHT HOLDERS. Every holder of a Right, by accepting the same, consents and agrees with the Company and the Rights Agent and with every other holder of a Right that: 

(a) prior to the Distribution Date, the Rights will be transferable only in connection with the transfer of the Common Stock; 

(b) after the Distribution Date, the Right Certificates are transferable only on the registry books of the Rights Agent if surrendered
at the office of the Rights Agent designated for such purpose, duly endorsed or accompanied by a proper instrument of transfer and with the appropriate forms and certificates of transfer; and 

(c) subject to Sections 6(a) and 7(a) hereof, the Company and the Rights Agent may deem and treat the Person in whose name
the Right Certificate (or, prior to the Distribution Date, the associated Common Stock certificate) is registered as the absolute owner thereof and of the Rights evidenced thereby (notwithstanding any notations of ownership or writing on the Right
Certificates or the associated Common Stock certificate made by anyone other than the Company or the Rights Agent) for all purposes whatsoever, and neither the Company nor the Rights Agent, subject to Section 7(a) hereof, shall be
affected by any notice to the contrary. 

  
 29 

 17. RIGHT CERTIFICATE HOLDER
NOT DEEMED A STOCKHOLDER. No holder, as such, of any Right Certificate shall be entitled to vote, receive dividends or be deemed for any purpose the holder of the Preferred Stock or any
other securities of the Company which may at any time be issuable on the exercise or exchange of the Rights represented thereby, nor shall anything contained herein or in any Right Certificate be construed to confer upon the holder of any Right
Certificate, as such, any of the rights of a stockholder of the Company or any right to vote for the election of directors or upon any matter submitted to stockholders at any meeting thereof, or to give or withhold consent to any corporate action,
or to receive notice of meetings or other actions affecting stockholders (except as provided in this Rights Agreement), or to receive dividends or subscription rights, or otherwise, until the Rights evidenced by such Right Certificate shall have
been exercised or exchanged in accordance with the provisions hereof. 
 18. CONCERNING THE
RIGHTS AGENT. 
 (a) Compensation and Indemnification. The Company agrees to pay to the Rights
Agent reasonable compensation for all services rendered by it hereunder and, from time to time, on demand of the Rights Agent, its reasonable expenses and counsel fees and other disbursements incurred in the administration and execution of this
Rights Agreement and the exercise and performance of its duties hereunder. The Company also agrees to indemnify the Rights Agent for, and to hold it harmless against, any loss, liability or expense, incurred without gross negligence, bad faith or
willful misconduct on the part of the Rights Agent, for anything done or omitted by the Rights Agent in connection with the acceptance and administration, of this Rights Agreement, including the costs and expenses of defending against any claim of
liability arising therefrom. 
 (b) Limitation of Liability. The Rights Agent shall be protected and shall incur no liability
for, or in respect of any action taken, suffered or omitted by it in connection with, its administration of this Rights Agreement in reliance upon any Right Certificate or certificate for the Preferred Stock or Common Stock or for other securities
of the Company, instrument of assignment or transfer, power of attorney, endorsement, affidavit, letter, notice, direction, consent, certificate, statement, or other paper or document reasonably believed by it to be genuine and to be signed,
executed and, where necessary, verified or acknowledged, by the proper Person or Persons, or otherwise upon the advice of counsel as set forth in Section 20 hereof. 

  
 30 

 19. MERGER OR CONSOLIDATION OR
CHANGE OF NAME OF RIGHTS AGENT. 
 (a)
Merger or Consolidation. Any Person into which the Rights Agent or any successor Rights Agent may be merged or with which it may be consolidated, or any Person resulting from any merger or consolidation to which the Rights Agent or any
successor Rights Agent shall be a party, or any Person succeeding to the corporate trust or stock transfer business of the Rights Agent or any successor Rights Agent, shall be the successor to the Rights Agent under this Rights Agreement without the
execution or filing of any paper or any further act on the part of any of the parties hereto; provided, that such corporation would be eligible for appointment as a successor Rights Agent under the provisions of Section 21 hereof.
In case at the time such successor Rights Agent shall succeed to the agency created by this Rights Agreement, any of the Right Certificates shall have been countersigned but not delivered, such successor Rights Agent may adopt the countersignature
of the predecessor Rights Agent and deliver such Right Certificates so countersigned; and in case at that time any of the Right Certificates shall not have been countersigned, any successor Rights Agent may countersign such Right Certificates either
in the name of the predecessor Rights Agent or in the name of such successor Rights Agent; and in all such cases such Right Certificates shall have the full force provided in the Right Certificates and in this Rights Agreement. 

(b) Name Change. In case at any time the name of the Rights Agent shall be changed and at such time any of the Right Certificates
shall have been countersigned but not delivered the Rights Agent may adopt the countersignature under its prior name and deliver Right Certificates so countersigned; and in case at that time any of the Right Certificates shall not have been
countersigned, the Rights Agent may countersign such Right Certificates either in its prior name or in its changed name and in all such cases such Right Certificates shall have the full force provided in the Right Certificates and in this Rights
Agreement. 
 20. DUTIES OF RIGHTS AGENT. The Rights Agent undertakes to
perform the duties and obligations imposed by this Rights Agreement (and no implied duties) upon the following terms and conditions, by all of which the Company and the holders of Right Certificates, by their acceptance thereof, shall be bound: 

(a) Legal Counsel. The Rights Agent may consult with legal counsel (who may be legal counsel for the Company), and the opinion of
such counsel shall be full and complete authorization and protection to the Rights Agent as to any action taken or omitted by it in good faith and in accordance with such opinion. 

(b) Certificates as to Facts or Matters. Whenever in the performance of its duties under this Rights Agreement the Rights Agent
shall deem it necessary or desirable that any fact or matter (including, without limitation, the identity of an Acquiring Person and the determination of the current per share market price of any security) be proved or established by the Company
prior to taking or omitting to take any action hereunder, such fact or matter (unless other evidence in respect thereof be herein specifically prescribed) may be deemed to be conclusively proved and established by a certificate signed by any
Authorized Officer and delivered to the Rights Agent; and such certificate shall be full authorization to the Rights Agent for any action taken or omitted to be taken in good faith by it under the provisions of this Rights Agreement in reliance upon
such certificate. 

  
 31 

 (c) Standard of Care. The Rights Agent shall be liable hereunder to the Company and
any other Person only for its own gross negligence, bad faith or willful misconduct (which gross negligence, bad faith or willful misconduct must be determined by a final, non-appealable order, judgment, decree or ruling of a court of competent
jurisdiction). Anything to the contrary notwithstanding, in no event shall the Rights Agent be liable for special, punitive, indirect, consequential or incidental loss or damage of any kind whatsoever (including but not limited to lost profits),
even if the Rights Agent has been advised of the likelihood of such loss or damage. 
 (d) Reliance on Agreement and Right
Certificates. The Rights Agent shall not be liable for or by reason of any of the statements of fact or recitals contained in this Rights Agreement or in the Right Certificates or be required to verify the same (except its countersignature
thereof), and all such statements and recitals are and shall be deemed to have been made by the Company only. 
 (e) No
Responsibility as to Certain Matters. The Rights Agent shall not be under any responsibility in respect of the validity of this Rights Agreement or the execution and delivery hereof (except the due execution hereof by the Rights Agent) or in
respect of the validity or execution of any Right Certificate (except its countersignature thereof); nor shall it be responsible for any breach by the Company of any covenant or condition contained in this Rights Agreement or in any Right
Certificate; nor shall it be responsible for any change in the exercisability of the Rights (including the Rights becoming null and void pursuant to Section 11(a)(ii) hereof) or any adjustment required under the provisions of Sections
3, 11, 13, 23 or 24 or responsible for the manner, method or amount of any such adjustment or the ascertaining of the existence of facts that would require any such adjustment (except with respect to the exercise of
Rights evidenced by Right Certificates after actual notice of such adjustment); nor shall it by any act hereunder be deemed to make any representation or warranty as to the authorization or reservation of any shares of Common Stock, Preferred Stock
or other securities to be issued pursuant to this Rights Agreement or any Right Certificate or as to whether any shares of Common Stock, Preferred Stock or other securities will, when so issued, be validly authorized and issued, fully paid and
nonassessable. 
 (f) Further Performance by Company. The Company agrees that it will perform, execute, acknowledge and deliver
or cause to be performed, executed, acknowledged and delivered all such further and other acts, instruments and assurances as may reasonably be required by the Rights Agent for the carrying out or performing by the Rights Agent of the provisions of
this Rights Agreement. 
 (g) Authorized Company Officers. The Rights Agent is hereby authorized and directed to accept
instructions with respect to the performance of its duties hereunder from any person believed by the Rights Agent to be one of the Authorized Officers, and to apply to such Authorized Officers for advice or instructions in connection with its duties
and it shall not be liable for any action taken or omitted to be taken by it in good faith in accordance with instructions of any such Authorized Officer. 

  
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 (h) Ability to Trade in Company Securities. The Rights Agent and any stockholder,
affiliate, director, officer or employee of the Rights Agent may buy, sell or deal in any of the Rights or other securities of the Company or become pecuniarily interested in any transaction in which the Company may be interested, or contract with
or lend money to the Company or otherwise act as fully and freely as though it were not the Rights Agent under this Rights Agreement. Nothing herein shall preclude the Rights Agent or any such stockholder, affiliate, director, officer or employee
from acting in any other capacity for the Company or for any other Person. 
 (i) Reliance on Attorneys and Agents. The Rights
Agent may execute and exercise any of the rights or powers hereby vested in it or perform any duty hereunder either itself (through its directors, officers and employees) or by or through its attorneys or agents, and the Rights Agent shall not be
answerable or accountable for any act, default, neglect or misconduct of any such attorneys or agents or for any loss to the Company resulting from any such act, default, neglect or misconduct, provided reasonable care was exercised in the
selection and continued employment thereof. 
 (j) Incomplete Certificate. If, with respect to any Right Certificate
surrendered to the Rights Agent for exercise or transfer, the certificate contained in the form of assignment or the form of election to purchase set forth on the reverse thereof, as the case may be, has not been completed to certify the holder is
not an Acquiring Person (or any Related Person thereof) or a transferee thereof, the Rights Agent shall not take any further action with respect to such requested exercise or transfer without first consulting with the Company. 

(k) Liability. No provision of this Rights Agreement shall require the Rights Agent to expend or risk its own funds or otherwise
incur any financial liability in the performance of any of its duties hereunder or in the exercise of its rights if it reasonably believes that repayment of such funds or adequate indemnification against such risk or liability, to the extent
provided herein, is not reasonably assured to it. 
 21. CHANGE OF RIGHTS
AGENT. The Rights Agent or any successor Rights Agent may resign and be discharged from its duties under this Rights Agreement upon 30 days’ notice in writing mailed to the Company and to each transfer agent of the Common Stock
or the Preferred Stock by registered or certified mail, and, if such resignation occurs after the Distribution Date, to the registered holders of the Right Certificates by first-class mail. In the event the transfer agency relationship in effect
between the Company and the Rights Agent terminates, the Rights Agent will be deemed to resign automatically on the effective date of such termination; and any required notice will be sent by the Company. The Company may remove the Rights Agent or
any successor Rights Agent upon 30 days’ notice in writing, mailed to the Rights Agent or successor Rights Agent, as the case may be, and to each transfer agent of the Common Stock and the Preferred Stock by registered or certified mail, and,
if such removal occurs after the Distribution Date, to the registered holders of the Right Certificates by first-class mail. If the Rights Agent shall resign or be removed or shall otherwise become incapable of acting, the resigning, removed, or
incapacitated Rights Agent shall remit to the Company, or to any successor Rights Agent designated by the Company, all books, records, funds, certificates or other documents or instruments of any kind then in its possession which were acquired by
such resigning, removed or incapacitated Rights Agent in connection with its services as Rights Agent hereunder, and shall thereafter be discharged from all duties and obligations hereunder. Following notice of such removal, resignation or
incapacity, the Company shall appoint a 

  
 33 

 
successor to such Rights Agent. If the Company shall fail to make such appointment within a period of 30 days after giving notice of such removal or after it has been notified in writing of
such resignation or incapacity by the resigning or incapacitated Rights Agent or by the holder of a Right Certificate (who shall, with such notice, submit his Right Certificate for inspection by the Company), then the registered holder of any Right
Certificate may apply to any court of competent jurisdiction for the appointment of a new Rights Agent. Any successor Rights Agent, whether appointed by the Company or by such a court, shall be (a) a Person organized and doing business under
the laws of the United States or any State thereof, which is authorized under such laws to exercise corporate trust or stock transfer powers and is subject to supervision or examination by federal or state authority and which has at the time of its
appointment as Rights Agent a combined capital and surplus of at least $50,000,000 or (b) an affiliate of a Person described in clause (a) of this sentence. After appointment, the successor Rights Agent shall be vested with the same
powers, rights, duties and responsibilities as if it had been originally named as Rights Agent without further act or deed; but the predecessor Rights Agent shall deliver and transfer to the successor Rights Agent any property at the time held by it
hereunder, and execute and deliver any further assurance, conveyance, act or deed necessary for the purpose. Not later than the effective date of any such appointment the Company shall file notice thereof in writing with the predecessor Rights Agent
and each transfer agent of the Common Stock and the Preferred Stock, and, if such appointment occurs after the Distribution Date, mail a notice thereof in writing to the registered holders of the Right Certificates. Failure to give any notice
provided for in this Section 21, however, or any defect therein, shall not affect the legality or validity of the resignation or removal of the Rights Agent or the appointment of the successor Rights Agent, as the case may be. 

22. ISSUANCE OF NEW RIGHT CERTIFICATES. Notwithstanding any
of the provisions of this Rights Agreement or of the Rights to the contrary, the Company may, at its option, issue new Right Certificates evidencing Rights in such form as may be approved by the Board of Directors to reflect any adjustment or change
in the Purchase Price and the number or kind or class of shares or other securities or property purchasable under the Right Certificates made in accordance with the provisions of this Rights Agreement. In addition, in connection with the issuance or
sale of shares of Common Stock following the Distribution Date and prior to the Expiration Date, the Company (a) shall, with respect to shares of Common Stock so issued or sold pursuant to the exercise of stock options or under any employee
plan or arrangement, granted or awarded as of the Distribution Date, or upon the exercise, conversion or exchange of securities hereinafter issued by the Company, and (b) may, in any other case, if deemed necessary or appropriate by the Board
of Directors, issue Right Certificates representing the appropriate number of Rights in connection with such issuance or sale; provided, however, that (i) no such Right Certificate shall be issued if, and to the extent that, the
Company shall be advised by counsel that such issuance would create a significant risk of material adverse tax consequences to the Company or the Person to whom such Right Certificate would be issued, and (ii) no such Right Certificate shall be
issued if, and to the extent that, appropriate adjustment shall otherwise have been made in lieu of the issuance thereof. 

  
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 23. REDEMPTION. 

(a) Right to Redeem. The Board of Directors may, at its option, at any time prior to the earlier of (i) a Trigger Event, or
(ii) the Final Expiration Date, redeem all but not less than all of the then-outstanding Rights at a redemption price of $0.001 per Right, appropriately adjusted to reflect any stock split, stock dividend, recapitalization or similar
transaction occurring after the date hereof (the “Redemption Price”). The redemption of the Rights may be made effective at such time, on such basis and with such conditions as the Board of Directors in its sole discretion
may establish. The Company may, at its option, pay the Redemption Price in cash, shares of Common Stock (based on the current per share market price of the Common Stock at the time of redemption as determined pursuant to Section 11(d)(i)
hereof) or any other form of consideration deemed appropriate by the Board of Directors. 
 (b) Redemption Properties.
Immediately upon the action of the Board of Directors ordering the redemption of the Rights pursuant to paragraph (a) of this Section 23 (or at such later time as the Board of Directors may establish for the effectiveness of such
redemption), and without any further action and without any notice, the right to exercise the Rights will terminate and the only right thereafter of the holders of Rights shall be to receive the Redemption Price. The Company shall promptly give
public notice of any such redemption; provided, however, that the failure to give, or any defect in, any such notice shall not affect the validity of such redemption. Promptly after such action of the Board of Directors ordering the
redemption of the Rights (or such later time as the Board of Directors may establish for the effectiveness of such redemption), the Company shall mail a notice of redemption to all the holders of the then-outstanding Rights at their last addresses
as they appear upon the registry books of the Rights Agent or, prior to the Distribution Date, on the registry books of the transfer agent for the Common Stock. Any notice which is mailed in the manner herein provided shall be deemed given, whether
or not the holder receives the notice. Each such notice of redemption shall state the method by which the payment of the Redemption Price will be made. 

(c) Restrictions on Redemption. Neither the Company nor any of its Affiliates or Associates may redeem, acquire or purchase for
value any Rights at any time in any manner other than that specifically set forth in this Section 23 and other than in connection with the purchase or repurchase by any of them of Common Stock prior to the Distribution Date. 

24. EXCHANGE. 

(a) Exchange of Common Shares for Rights. The Board of Directors may, at its option, at any time after a Trigger Event, exchange
all or part of the then-outstanding and exercisable Rights (which shall not include Rights that have not become effective or that have become null and void pursuant to the provisions of Section 11(a)(ii) hereof) for shares of Common
Stock at an exchange ratio of one share of Common Stock (or one-thousandth of a share of Preferred Stock) per Right, appropriately adjusted to reflect any stock split, stock dividend or similar transaction occurring after the date hereof (such
amount per Right, the “Exchange Ratio”). Notwithstanding the foregoing, the Board of Directors shall not be empowered to effectuate such exchange at any time after an Acquiring Person becomes the Beneficial Owner of shares of
Common Stock aggregating 50% or more of the shares of Common Stock then outstanding. From and after the occurrence of an event specified in 

  
 35 

 
Section 13(a) hereof, any Rights that theretofore have not been exchanged pursuant to this Section 24(a) shall thereafter be exercisable only in accordance with
Section 13 hereof and may not be exchanged pursuant to this Section 24(a). The exchange of the Rights by the Board of Directors may be made effective at such time, on such basis and with such conditions as the Board of
Directors in its sole discretion may establish. Before effecting an exchange pursuant to this Section 24, the Board of Directors may direct the Company to enter into a Trust Agreement in such form and with such terms as the Board of
Directors shall then approve (the “Trust Agreement”). If the Board of Directors so directs, the Company shall enter into the Trust Agreement and shall issue to the trust created by such agreement (the
“Trust”) all or a portion (as designated by the Board of Directors) of the shares of Common Stock (or other securities) issuable pursuant to the exchange, and all holders of Rights entitled to receive such shares or
securities pursuant to the exchange shall be entitled to receive such shares or securities (and any dividends paid or distributions made thereon after the date on which such shares are deposited in the Trust) only from the Trust and solely upon
compliance with the relevant terms and provisions of the Trust Agreement. Prior to effecting an exchange and registering shares of Common Stock (or other such securities) in any Person’s name, including any nominee or transferee of a Person,
the Company may require (or cause the trustee of the Trust to require), as a condition thereof, that any holder of Rights provide evidence, including, without limitation, the identity of the Beneficial Owners thereof and their Related Persons (or
former Beneficial Owners thereof and their Related Persons) as the Company shall reasonably request in order to determine if such Rights are null and void. If any Person shall fail to comply with such request, the Company shall be entitled
conclusively to deem the Rights formerly held by such Person to be null and void pursuant to Section 11(a)(ii) hereof and not transferable or exercisable or exchangeable in connection herewith. Any shares of Common Stock or other
securities issued at the direction of the Board of Directors in connection herewith shall be validly issued, fully paid and nonassessable shares of Common Stock or of such other securities (as the case may be), and the Company shall be deemed to
have received as consideration for such issuance a benefit having a value that is at least equal to the aggregate par value of the shares so issued. 

(b) Exchange Procedures. Immediately upon the action of the Board of Directors ordering the exchange of any Rights pursuant to
paragraph (a) of this Section 24 and without any further action and without any notice, the right to exercise such Rights shall terminate and the only right thereafter of a holder of such Rights shall be to receive that number of
shares of Common Stock equal to the number of such Rights held by such holder multiplied by the Exchange Ratio. The Company promptly shall give public notice of any such exchange; provided, however, that the failure to give, or any
defect in, such notice shall not affect the validity of such exchange. The Company shall promptly mail a notice of any such exchange to all of the holders of such Rights at their last addresses as they appear upon the registry books of the Rights
Agent. Any notice which is mailed in the manner herein provided shall be deemed given, whether or not the holder receives the notice. Each such notice of exchange will state the method by which the exchange of the shares of Common Stock for Rights
will be effected and, in the event of any partial exchange, the number of Rights which will be exchanged. Any partial exchange shall be effected pro rata based on the number of Rights (other than Rights which have become null and void pursuant to
the provisions of Section 11(a)(ii) hereof) held by each holder of Rights. 

  
 36 

 (c) Substitution. In any exchange pursuant to this Section 24, the
Company, at its option, may substitute Preferred Stock (or Equivalent Preferred Stock) or Common Stock exchangeable for Rights, at the initial rate of one one-thousandth of a share of Preferred Stock (or Equivalent Preferred Stock) for each share of
Common Stock, as appropriately adjusted to reflect stock splits, stock dividends and other similar transactions after the date hereof. 

(d) Insufficient Shares. In the event that there shall not be sufficient shares of Common Stock issued but not outstanding or
authorized but unissued to permit an exchange of Rights as contemplated in accordance with this Section 24, the Company shall substitute to the extent of such insufficiency, for each share of Common Stock that would otherwise be issuable
upon exchange of a Right, a number of shares of Preferred Stock or fraction thereof (or Equivalent Preferred Stock as such term is defined in Section 11(b) hereof) such that the current per share market price (determined pursuant to
Section 11(d) hereof) of one share of Preferred Stock (or equivalent preferred share) multiplied by such number or fraction is equal to the current per share market price of one share of Common Stock (determined pursuant to
Section 11(d)(i) hereof) as of the date of such exchange. 
 25. NOTICE OF
CERTAIN EVENTS. 
 (b) Notice of Events Affecting Rights. In case the Company shall propose at
any time after the earlier of the Distribution Date or the Stock Acquisition Date (i) to pay any dividend payable in stock of any class to the holders of Preferred Stock or to make any other distribution to the holders of Preferred Stock,
(ii) to offer to the holders of its Preferred Stock rights or warrants to subscribe for or to purchase any additional shares of Preferred Stock or shares of stock of any class or any other securities, rights or options, (iii) to effect any
reclassification of its Preferred Stock (other than a reclassification involving only the subdivision or combination of outstanding Preferred Stock), (iv) to effect the liquidation, dissolution or winding up of the Company, (v) to effect
any consolidation or merger into or with, or to effect any sale or other transfer (or to permit one or more of its Subsidiaries to effect any sale or other transfer), in one or more transactions, of 50% or more of the assets, cash flow or earning
power of the Company and its Subsidiaries (taken as a whole) to, any other Person (other than pursuant to a merger or other acquisition agreement of the type described in Section 1(d)(2)(A)(z) hereof) or (vi) to declare or pay any
dividend on the Common Stock payable in Common Stock or to effect a subdivision, combination or consolidation of the Common Stock, then, in each such case, the Company shall give to each holder of a Right Certificate, in accordance with
Section 26 hereof, a notice of such proposed action, which shall specify the record date for the purposes of such stock dividend, or distribution or offering of rights or warrants, or the date on which such reclassification,
consolidation, merger, sale, transfer, liquidation, dissolution or winding up is to take place and the date of participation therein by the holders of the Common Stock and/or Preferred Stock, if any such date is to be fixed, and such notice shall be
so given in the case of any action covered by clauses (i) or (ii) above at least 10 days prior to the record date for determining holders of the Preferred Stock for purposes of such action, and in the case of any such other action, at
least 10 days prior to the date of the taking of such proposed action or the date of participation therein by the holders of the Common Stock and/or Preferred Stock, whichever shall be the earlier. 

  
 37 

 (a) Notice of Acquiring Person Events. In case any event set forth in Sections
11(a)(ii) or 13 hereof shall occur then, in any such case, (i) the Company shall as soon as practicable thereafter give to each holder of a Right Certificate, to the extent feasible and in accordance with Section 26
hereof, a notice of the occurrence of such event, which shall specify the event and the consequences of the event to holders of Rights under Sections 11(a)(ii) and 13 hereof, and (ii) all references in this Section 25
to Preferred Stock shall be deemed thereafter to refer to Common Stock and/or, if appropriate, other securities. 
 26.
NOTICES. 
 Notices or demands authorized by this Rights Agreement to be given or made by the Rights Agent or by the holder of any Right
Certificate to or on the Company shall be sufficiently given or made if sent by first-class mail, postage prepaid, addressed (until another address is filed in writing by the Company with the Rights Agent) as follows: 

AEP Industries Inc. 
 Corporate
Headquarters 
 95 Chestnut Ridge Road 

Montvale, NJ 07645 
 Attention:
Secretary 
 Subject to the provisions of Section 21 hereof, any notice or demand authorized by this Rights Agreement to be given or made by the
Company or by the holder of any Right Certificate to or on the Rights Agent shall be sufficiently given or made if sent by first-class mail, postage prepaid, addressed (until another address is filed in writing by the Rights Agent with the Company)
as follows: 
 American Stock Transfer & Trust Company, LLC 

6201 15th Avenue 

Brooklyn, NY 11219 
 Attention:
Admin3 
 With a copy to: 
 American Stock
Transfer & Trust Company, LLC 
 6201 15th Avenue 

Brooklyn, NY 11219 
 Attention:
General Counsel 
 Notices or demands authorized by this Rights Agreement to be given or made by the Company or the Rights Agent to the holder of any Right
Certificate (or, if prior to the Distribution Date, to the holder of certificates representing shares of Common Stock) shall be sufficiently given or made if sent by first-class mail, postage prepaid, addressed to such holder at the address of such
holder as shown on the registry books of the Company. 

  
 38 

 27. SUPPLEMENTS AND AMENDMENTS. Prior to the
Distribution Date, and except as otherwise provided in this Section 27, the Company may in its sole and absolute discretion, and the Rights Agent shall if the Company so directs, supplement or amend any provision of this Rights Agreement
in any respect without the approval of any holders of certificates of representing shares of Common Stock. From and after the Distribution Date, and except as otherwise provided in this Section 27, the Company and the Rights Agent shall,
if the Company so directs, supplement or amend this Rights Agreement without the approval of any holders of Rights in order to (i) cure any ambiguity, (ii) correct or supplement any provision contained herein which may be defective or
inconsistent with any other provisions herein, (iii) shorten or lengthen any time period hereunder, or (iv) change or supplement the provisions hereunder in any manner which the Company may deem necessary or desirable; provided,
however, that no such supplement or amendment shall adversely affect the interests of the holders of Right Certificates (other than an Acquiring Person or any Related Person thereof), and no such amendment may cause the Rights again to become
redeemable or cause this Rights Agreement again to become amendable as to an Acquiring Person or any Related Person thereof other than in accordance with this sentence. Upon the delivery of a certificate from an appropriate officer of the Company
which states that the proposed supplement or amendment is in compliance with the terms of this Section 27, the Rights Agent shall execute such supplement or amendment. Notwithstanding anything contained in this Rights Agreement to the
contrary, (a) no supplement or amendment shall be made which decreases the Redemption Price and (b) the Rights Agent may, but shall not be obligated to, enter into any supplement or amendment that affects the Rights Agent’s own
rights, duties, obligations and immunities under this Rights Agreement. 
 28. SUCCESSORS. All the covenants and
provisions of this Rights Agreement by or for the benefit of the Company or the Rights Agent shall bind and inure to the benefit of their respective successors and assigns hereunder. 

29. BENEFITS OF THIS RIGHTS AGREEMENT. Nothing in this
Rights Agreement shall be construed to give to any Person other than the Company, the Rights Agent and the registered holders of the Right Certificates (and, prior to the Distribution Date, registered holders of the Common Stock) any legal or
equitable right, remedy or claim under this Rights Agreement; but this Rights Agreement shall be for the sole and exclusive benefit of the Company, the Rights Agent and the registered holders of the Right Certificates (and, prior to the Distribution
Date, registered holders of the Common Stock). 
 30. DETERMINATIONS AND ACTIONS
BY THE BOARD OF DIRECTORS. For all purposes of this Rights Agreement, any calculation of the number of shares of Common Stock or any other class of capital stock outstanding
at any particular time, including for purposes of determining the particular percentage of such outstanding shares of Common Stock of which any Person is the Beneficial Owner, shall be made in accordance with the last sentence of Rule 13d-3(d)(1)(i)
of the General Rules and Regulations under the Exchange Act. The Board of Directors shall have the exclusive power and authority to administer this Rights Agreement and to exercise the rights and powers specifically granted to the Board of Directors
or to the Company, or as may be necessary or advisable in the administration of this Rights Agreement, including, without limitation, the right and power to (i) interpret the provisions of this Rights Agreement and (ii) make all
determinations deemed necessary or advisable for the administration of this Rights Agreement (including, without limitation, a determination to redeem or not redeem the Rights or 

  
 39 

 
to amend this Rights Agreement). All such actions, calculations, interpretations and determinations (including, for purposes of clause (B) below, all omissions with respect to the foregoing)
that are done or made by the Board of Directors in good faith, shall (A) be final, conclusive and binding on the Company, the Rights Agent, the holders of the Rights, as such, and all other parties, and (B) not subject the Board of
Directors, or any of the directors on the Board of Directors, to any liability to the holders of the Rights. 
 31.
SEVERABILITY. If any term, provision, covenant or restriction of this Rights Agreement or applicable to this Rights Agreement is held by a court of competent jurisdiction or other authority to be invalid, null and void or
unenforceable, the remainder of the terms, provisions, covenants and restrictions of this Rights Agreement shall remain in full force and effect and shall in no way be affected, impaired or invalidated; provided, however, that
notwithstanding anything in this Rights Agreement to the contrary, if any such term, provision, covenant or restriction is held by such court or authority to be invalid, null and void or unenforceable and the Board of Directors determines in its
good faith judgment that severing the invalid language from this Rights Agreement would adversely affect the purpose or effect of this Rights Agreement, the right of redemption set forth in Section 23 hereof shall be reinstated and shall
not expire until the Close of Business on the tenth Business Day following the date of such determination by the Board of Directors. Without limiting the foregoing, if any provision requiring a specific group of Directors of the Company to act is
held to by any court of competent jurisdiction or other authority to be invalid, null and void or unenforceable, such determination shall then be made by the Board of Directors in accordance with applicable law and the Company’s Restated
Certificate of Incorporation and Bylaws, each as amended or restated. 
 32. GOVERNING LAW. This Rights
Agreement, each Right and each Right Certificate issued hereunder shall be deemed to be a contract made under the laws of the State of Delaware and for all purposes shall be governed by and construed in accordance with the laws of such State
applicable to contracts made and to be performed entirely within such State. 
 33. COUNTERPARTS. This Rights
Agreement may be executed in any number of counterparts and each of such counterparts shall for all purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument. 

34. DESCRIPTIVE HEADINGS. Descriptive headings of the several sections of this Rights Agreement are
inserted for convenience only and shall not control or affect the meaning or construction of any of the provisions hereof. 
 35.
FORCE MAJEURE. Notwithstanding anything to the contrary contained herein, the Rights Agent shall not be liable for any delays or failures in performance resulting from acts beyond its reasonable control including,
without limitation, acts of God, terrorist acts, breakdowns or malfunctions, interruptions or malfunctions of computer facilities, or loss of data due to power failures or mechanical difficulties with information storage or retrieval systems, labor
difficulties, war or civil unrest. 
 [SIGNATURES ON THE FOLLOWING
PAGE] 

  
 40 

 IN WITNESS WHEREOF, the parties hereto have caused this Rights Agreement to be duly executed, all
as of the day and year first above written. 
  

			
	AEP INDUSTRIES INC.
		
	By:	 	 /s/ PAUL M. FEENEY

		 	Name: Paul M. Feeney
		 	 Title: Executive Vice President, Finance,
 and
Chief Financial Officer

	
	 AMERICAN STOCK TRANSFER & TRUST

COMPANY, LLC, as Rights Agent

		
	By:	 	 /s/ MIKE NESPOLI

		 	Name: Mike Nespoli
		 	 Title: Executive Director Relationship

Management

  
 SIGNATURE
PAGE TO RIGHTS AGREEMENT 

 EXHIBIT A 

CERTIFICATE OF DESIGNATIONS 

OF 

SERIES A JUNIOR PARTICIPATING PREFERRED STOCK 

OF 
 AEP
INDUSTRIES INC. 
 (Pursuant to Section 151 of the Delaware General Corporation Law) 

 
  

AEP Industries Inc. (the “Corporation”), a corporation organized and existing under the General
Corporation Law of the State of Delaware (“General Corporation Law”) hereby certifies that, pursuant to authority granted by Article Fourth of the Restated Certificate of Incorporation of the Corporation, as amended (the
“Certificate of Incorporation”) and in accordance with Section 151 of the General Corporation Law, the Board of Directors of the Corporation (hereinafter being referred to as the
“Board of Directors” or the “Board”) has adopted the following resolutions at a meeting duly called and held on
March 31, 2011: 
 RESOLVED, that pursuant to the authority granted to and vested in the Board of Directors in accordance
with the provisions of the Certificate of Incorporation, the Board of Directors hereby creates a series of Preferred Stock, par value $1.00 per share, of the Corporation, to be designated the “Series A Junior Participating Preferred Stock”
and hereby adopts the resolution establishing the designations, number of shares, preferences, voting powers and other rights and the restrictions and limitations thereof, of the shares of such Series A Junior Participating Stock as set forth below:

 1. Designation and Amount. The shares of such series shall be designated as “Series A Junior Participating
Preferred Stock” (the “Series A Preferred Stock”) and the number of shares constituting the Series A Preferred Stock shall be 30,000. Such number of shares may be increased or
decreased by resolution of the Board of Directors; provided, that no decrease shall reduce the number of shares of the Series A Preferred Stock to a number less than the number of shares then outstanding plus the number of shares reserved for
issuance upon the exercise of outstanding options, rights or warrants or upon the conversion of any outstanding securities issued by the Corporation convertible into the Series A Preferred Stock. 

2. Dividends and Distributions. 

(a) Subject to the rights of the holders of any shares of any series of Preferred Stock of the Corporation (the “Preferred
Stock”) (or any similar stock) ranking prior and superior to the Series A Preferred Stock with respect to dividends, the holders of shares of the Series A Preferred Stock, in preference to the holders of common stock, par value
$0.01 per share, of the Corporation (the “Common Stock”) and of any other stock of the Corporation ranking junior to the Series A Preferred Stock, shall be entitled to receive, when, as and if declared by the Board of
Directors out of funds legally available for the purpose, quarterly dividends payable in cash on the last day of each fiscal quarter in each year, or such other dates 

  
 A-1 

 
as the Board of Directors shall approve (each such date being referred to herein as a “Dividend Payment Date”), commencing on the first Dividend Payment Date after the
first issuance of a share or fraction of a share of the Series A Preferred Stock (the “Issue Date”), in an amount per share (rounded to the nearest cent) equal to the greater of (i) $1.00 or (ii) subject to the
provision for adjustment hereinafter set forth, 1,000 times the aggregate per share amount of all cash dividends, and 1,000 times the aggregate per share amount (payable in kind) of all non-cash dividends or other distributions other than a dividend
payable in shares of Common Stock, declared on the Common Stock since the immediately preceding Dividend Payment Date or, with respect to the first Dividend Payment Date, since the first issuance of any share or fraction of a share of Series A
Preferred Stock. In the event the Corporation shall at any time after the Issue Date declare and pay any dividend on the Common Stock payable in shares of Common Stock, or effect a subdivision or combination or consolidation of the outstanding
shares of Common Stock into a greater or lesser number of shares of Common Stock, then in each such case the amount to which holders of shares of Series A Preferred Stock were entitled immediately prior to such event under clause (ii) of the
preceding sentence shall be adjusted by multiplying such amount by a fraction, the numerator of which is the number of shares of Common Stock outstanding immediately after such event and the denominator of which is the number of shares of Common
Stock that were outstanding immediately prior to such event. 
 (b) The Corporation shall declare a dividend or distribution on the Series A
Preferred Stock as provided in paragraph (a) of this Section 2 immediately after it declares a dividend or distribution on the Common Stock (other than a dividend payable in shares of Common Stock); provided that, in the
event no dividend or distribution shall have been declared on the Common Stock during the period between any Dividend Payment Date and the next subsequent Dividend Payment Date, a dividend of $1.00 per share on the Series A Preferred Stock shall
nevertheless be payable, when, as and if declared, on such subsequent Dividend Payment Date. 
 (c) Dividends shall begin to accrue and be
cumulative, whether or not earned or declared, on outstanding shares of Series A Preferred Stock from the Dividend Payment Date next preceding the date of issue of such shares, unless the date of issue of such shares is prior to the record date for
the first Dividend Payment Date, in which case dividends on such shares shall begin to accrue from the date of issue of such shares, or unless the date of issue is a Dividend Payment Date or is a date after the record date for the determination of
holders of shares of Series A Preferred Stock entitled to receive a quarterly dividend and before such Dividend Payment Date, in either of which events such dividends shall begin to accrue and be cumulative from such Dividend Payment Date. Accrued
but unpaid dividends shall not bear interest. Dividends paid on the shares of Series A Preferred Stock in an amount less than the total amount of such dividends at the time accrued and payable on such shares shall be allocated pro rata on a
share-by-share basis among all such shares at the time outstanding. The Board of Directors may fix a record date for the determination of holders of shares of Series A Preferred Stock entitled to receive payment of a dividend or distribution
declared thereon, which record date shall be not more than 60 days prior to the date fixed for the payment thereof. 

  
 A-2 

 3. Voting Rights. The holders of shares of Series A Preferred Stock shall have the
following voting rights: 
 (a) Subject to the provision for adjustment hereinafter set forth and except as otherwise provided in the
Certificate of Incorporation or required by law, each share of Series A Preferred Stock shall entitle the holder thereof to 1,000 votes on all matters upon which the holders of the Common Stock of the Corporation are entitled to vote. In the event
the Corporation shall at any time after the Issue Date declare or pay any dividend on the Common Stock payable in shares of Common Stock, or effect a subdivision or combination or consolidation of the outstanding shares of Common Stock into a
greater or lesser number of shares of Common Stock, then in each such case the number of votes per share to which holders of shares of Series A Preferred Stock were entitled immediately prior to such event shall be adjusted by multiplying such
number by a fraction, the numerator of which is the number of shares of Common Stock outstanding immediately after such event and the denominator of which is the number of shares of Common Stock that were outstanding immediately prior to such event.

 (b) Except as otherwise provided herein, in the Certificate of Incorporation or in any other certificate of designations creating a series
of Preferred Stock or any similar stock, and except as otherwise required by law, the holders of shares of Series A Preferred Stock and the holders of shares of Common Stock and any other capital stock of the Corporation having general voting rights
shall vote together as one class on all matters submitted to a vote of stockholders of the Corporation. 
 (c) Except as set forth herein, or
as otherwise provided by law, holders of Series A Preferred Stock shall have no special voting rights and their consent shall not be required (except to the extent they are entitled to vote with holders of Common Stock as set forth herein) for
taking any corporate action. 
 4. Certain Restrictions. 

(a) Whenever quarterly dividends or other dividends or distributions payable on the Series A Preferred Stock as provided in
Section 2 hereof are in arrears, thereafter and until all accrued and unpaid dividends and distributions, whether or not earned or declared, on shares of Series A Preferred Stock outstanding shall have been paid in full, the Corporation
shall not: 
 (i) declare or pay dividends, or make any other distributions, on any shares of stock ranking junior (either as to dividends
or upon liquidation, dissolution or winding up) to the Series A Preferred Stock; 
 (ii) declare or pay dividends, or make any other
distributions, on any shares of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Preferred Stock, except dividends paid ratably on the Series A Preferred Stock and all such parity
stock on which dividends are payable or in arrears in proportion to the total amounts to which the holders of all such shares are then entitled; 

(iii) redeem or purchase or otherwise acquire for consideration shares of any stock ranking junior (either as to dividends or upon
liquidation, dissolution or winding up) to the Series A Preferred Stock, provided that the Corporation may at any time redeem, purchase or otherwise acquire shares of any such junior stock in exchange for shares of any stock of the
Corporation ranking junior (as to dividends and upon dissolution, liquidation or winding up) to the Series A Preferred Stock or rights, warrants or options to acquire such junior stock; or 

  
 A-3 

 (iv) redeem or purchase or otherwise acquire for consideration any shares of Series A Preferred
Stock, or any shares of stock ranking on a parity (either as to dividends or upon liquidation, dissolution or winding up) with the Series A Preferred Stock, except in accordance with a purchase offer made in writing or by publication (as determined
by the Board of Directors) to all holders of such shares upon such terms as the Board of Directors, after consideration of the respective annual dividend rates and other relative rights and preferences of the respective Series and classes, shall
determine in good faith will result in fair and equitable treatment among the respective series or classes. 
 (b) The Corporation shall not
permit any subsidiary of the Corporation to purchase or otherwise acquire for consideration any shares of stock of the Corporation unless the Corporation could, under paragraph (a) of this Section 4, purchase or otherwise acquire
such shares at such time and in such manner. 
 5. Reacquired Shares. Any shares of Series A Preferred Stock purchased or otherwise
acquired by the Corporation in any manner whatsoever shall be retired and cancelled promptly after the acquisition thereof. All such shares shall upon their retirement become authorized but unissued shares of Preferred Stock and may be reissued as
part of a new series of Preferred Stock to be created by resolution or resolutions of the Board of Directors, subject to any conditions and restrictions on issuance set forth herein. 

6. Liquidation, Dissolution or Winding Up.  

(a) Upon any liquidation, dissolution or winding up of the Corporation, no distribution shall be made (i) to the holders of the Common
Stock or of shares of any other stock of the Corporation ranking junior, upon liquidation, dissolution or winding up, to the Series A Preferred Stock unless, prior thereto, the holders of shares of Series A Preferred Stock shall have received $1,000
per share, plus an amount equal to accrued and unpaid dividends and distributions thereon, whether or not earned or declared, to the date of such payment, provided that the holders of shares of Series A Preferred Stock shall be entitled to
receive an aggregate amount per share, subject to the provision for adjustment hereinafter set forth, equal to 1,000 times the aggregate amount to be distributed per share to holders of shares of Common Stock, or (ii) to the holders of shares
of stock ranking on a parity upon liquidation, dissolution or winding up with the Series A Preferred Stock, except distributions made ratably on the Series A Preferred Stock and all such parity stock in proportion to the total amounts to which the
holders of all such shares are entitled upon such liquidation, dissolution or winding up. In the event, however, that there are not sufficient assets available to permit payment in full of the Series A Preferred Stock liquidation preference and the
liquidation preferences of all other classes and series of stock of the Corporation, if any, that rank on a parity with the Series A Preferred Stock in respect thereof, then the assets available for such distribution shall be distributed ratably to
the holders of the Series A Preferred Stock and the holders of such parity shares in the proportion to their respective liquidation preferences. In the event the Corporation shall at any time after the Issue Date declare or pay any dividend on the
Common Stock payable in shares of Common Stock, or effect a subdivision or combination or consolidation of the outstanding shares of Common Stock 

  
 A-4 

 
into a greater or lesser number of shares of Common Stock, then in each such case the aggregate amount to which holders of shares of Series A Preferred Stock were entitled immediately prior to
such event under the proviso in clause (i) of this Section 6(a) shall be adjusted by multiplying such amount by a fraction the numerator of which is the number of shares of Common Stock outstanding immediately after such event and
the denominator of which is the number of shares of Common Stock that were outstanding immediately prior to such event. 
 (b) Neither the
merger or consolidation of the Corporation into or with another entity nor the merger or consolidation of any other entity into or with the Corporation (nor the sale of all or substantially all of the assets of the Corporation) shall be deemed to be
a liquidation, dissolution or winding up of the Corporation within the meaning of this Section 6. 
 7. Consolidation,
Merger, etc. In case the Corporation shall enter into any consolidation, merger, combination or other transaction in which the shares of Common Stock are converted into, exchanged for or changed into other stock or securities, cash and/or any
other property, then in any such case each share of Series A Preferred Stock shall at the same time be similarly converted into, exchanged for or changed into an amount per share (subject to the provision for adjustment hereinafter set forth) equal
to 1,000 times the aggregate amount of stock, securities, cash and/or any other property (payable in kind), as the case may be, into which or for which each share of Common Stock is converted or exchanged. In the event the Corporation shall at any
time after the Issue Date declare or pay any dividend on the Common Stock payable in shares of Common Stock, or effect a subdivision or combination or consolidation of the outstanding shares of Common Stock into a greater or lesser number of shares
of Common Stock, then in each such case the amount set forth in the preceding sentence with respect to the conversion, exchange or change of shares of Series A Preferred Stock shall be adjusted by multiplying such amount by a fraction, the numerator
of which is the number of shares of Common Stock outstanding immediately after such event and the denominator of which is the number of shares of Common Stock that were outstanding immediately prior to such event. 

8. No Redemption. The shares of Series A Preferred Stock shall not be redeemable from any holder. 

9. Rank. The Series A Preferred Stock shall rank, with respect to the payment of dividends and the distribution of assets upon
liquidation, dissolution or winding up of the Corporation, senior to the Common Stock. 
 10. Amendment. If any proposed amendment to
the Certificate of Incorporation (including this Certificate of Designations) would alter, change or repeal any of the preferences, powers or special rights given to the Series A Preferred Stock so as to affect the Series A Preferred Stock
adversely, then the holders of the Series A Preferred Stock shall be entitled to vote separately as a class upon such amendment, and the affirmative vote of two-thirds of the outstanding shares of the Series A Preferred Stock, voting separately as a
class, shall be necessary for the adoption thereof, in addition to such other vote as may be required by the General Corporation Law. 

  
 A-5 

 11. Fractional Shares. Series A Preferred Stock may be issued in fractions of a share that
shall entitle the holder, in proportion to such holder’s fractional shares, to exercise voting rights, receive dividends, participate in distributions and to have the benefit of all other rights of holders of Series A Preferred Stock. 

IN WITNESS WHEREOF, the undersigned have signed and attested this Certificate of
Designations on the 31st day of March, 2011. 
  

			
	AEP INDUSTRIES INC.
		
	By:	 	 /s/ PAUL M. FEENEY

	Name:	 	Paul M. Feeney
	Title:	 	CFO

 Attest: 
  

	
	 /s/ JAMES B. RAFFERTY

	James B. Rafferty         , Secretary

  
 A-6 

 EXHIBIT B 

FORM OF RIGHT CERTIFICATE 

 

			
	Certificate No. R-                	  	            Rights

 NOT EXERCISABLE AFTER MARCH 31, 2017, OR EARLIER IF REDEMPTION OR EXCHANGE OCCURS. THE RIGHTS ARE SUBJECT TO
REDEMPTION AT $0.001 PER RIGHT AND TO EXCHANGE ON THE TERMS SET FORTH IN THE RIGHTS AGREEMENT. UNDER CERTAIN CIRCUMSTANCES, AS SET FORTH IN THE RIGHTS AGREEMENT, RIGHTS OWNED BY OR TRANSFERRED TO ANY PERSON WHO IS OR BECOMES AN ACQUIRING PERSON (AS
DEFINED IN THE RIGHTS AGREEMENT) AND CERTAIN TRANSFEREES THEREOF WILL BECOME NULL AND VOID AND WILL NO LONGER BE TRANSFERABLE. 
 Right
Certificate 
 AEP INDUSTRIES INC. 

This certifies that             or registered assigns, is the
registered owner of the number of Rights set forth above, each of which entitles the owner thereof, subject to the terms, provisions and conditions of the Amended and Restated Rights Agreement, dated as of March 28, 2014 as the same may be
amended from time to time (the “Rights Agreement”), between AEP Industries Inc., a Delaware corporation (the “Company”), and American Stock Transfer & Trust Company, LLC, a New York limited
liability trust company (the “Rights Agent”), to purchase from the Company at any time after the Distribution Date (as such term is defined in the Rights Agreement) and prior to 5:00 P.M., New Jersey time, on March 31,
2017 at the office of the Rights Agent designated for such purpose, or of its successor as Rights Agent, one one-thousandth of a fully paid non-assessable share of Series A Junior Participating Preferred Stock, par value $1.00 per share (the
“Preferred Stock”), of the Company, at a purchase price of $330.00 per one one-thousandth of a share of Preferred Stock (the “Purchase Price”), upon presentation and surrender of this Right Certificate
with the Form of Election to Purchase duly executed. The number of Rights evidenced by this Right Certificate (and the number of one one-thousandths of a share of Preferred Stock which may be purchased upon exercise hereof) set forth above, and the
Purchase Price set forth above, are the number and Purchase Price as of March 28, 2014 based on the Preferred Stock as constituted at such date. As provided in the Rights Agreement, the Purchase Price, the number of one one-thousandths of a
share of Preferred Stock (or other securities or property) which may be purchased upon the exercise of the Rights and the number of Rights evidenced by this Right Certificate are subject to modification and adjustment upon the happening of certain
events. 
 This Right Certificate is subject to all of the terms, provisions and conditions of the Rights Agreement, which
terms, provisions and conditions are hereby incorporated herein by reference and made a part hereof and to which Rights Agreement reference is hereby made for a full description of the rights, limitations of rights, obligations, duties and
immunities hereunder 

  
 B-1 

 
of the Rights Agent, the Company and the holders of the Right Certificates. Copies of the Rights Agreement are on file at the principal executive offices of the Company. The Company will send to
the holder of this Right Certificate a copy of the Rights Agreement without charge after receipt of a written request therefor. 
 This
Right Certificate, with or without other Right Certificates, upon surrender at the office or agency of the Rights Agent designated for such purpose, may be exchanged for another Right Certificate or Right Certificates of like tenor and date
evidencing Rights entitling the holder to purchase a like aggregate number of shares of Preferred Stock as the Rights evidenced by the Right Certificate or Right Certificates surrendered shall have entitled such holder to purchase. If this Right
Certificate shall be exercised in part, the holder shall be entitled to receive upon surrender hereof another Right Certificate or Right Certificates for the number of whole Rights not exercised. 

Subject to the provisions of the Rights Agreement, the Rights evidenced by this Certificate (i) may be redeemed by the Company at a
redemption price of $0.001 per Right or (ii) may be exchanged in whole or in part for shares, among other things, of Preferred Stock or shares of the Company’s Common Stock. 

The Company is not required to issue fractional shares of Preferred Stock or Common Stock upon the exercise or exchange of any Right or Rights
evidenced hereby (other than fractions of Preferred Stock which are integral multiples of one one-thousandth of a share of Preferred Stock, which may, at the election of the Company, be evidenced by depositary receipts). At the Company’s
election, in lieu of such fractional shares, a cash payment will be made, as provided in the Rights Agreement. 
 No holder of this Right
Certificate, as such, shall be entitled to vote or receive dividends or be deemed for any purpose the holder of the Preferred Stock or of any other securities of the Company which may at any time be issuable on the exercise or exchange hereof, nor
shall anything contained in the Rights Agreement or herein be construed to confer upon the holder hereof, as such, any of the rights of a stockholder of the Company or any right to vote for the election of directors or upon any matter submitted to
stockholders at any meeting thereof, or to give or withhold consent to any corporate action, or to receive notice of meetings or other actions affecting stockholders (except as provided in the Rights Agreement) or to receive dividends or
subscription rights, or otherwise, until the Right or Rights evidenced by this Right Certificate shall have been exercised or exchanged as provided in the Rights Agreement. 

This Right Certificate shall not be valid or obligatory for any purpose until it shall have been countersigned by the Rights Agent. 

  
 B-2 

 WITNESS the facsimile signature of the proper officers of the Company and its corporate seal, if
any. Dated as of                  ,        . 
  

									
	ATTEST:	 		  	AEP INDUSTRIES INC.
					
	By:	 	  
	 		  	By:	  	  

				
	Countersigned:	 		  		  	
				
	  
	 		  		  	
	AMERICAN STOCK TRANSFER &	 		  		  	
	 TRUST COMPANY, LLC,
 as Rights
Agent
	 		  		  	
					
	By:	 	  
	 		  		  	
		 	Authorized Signatory	 		  		  	

  
 B-3 

 FORM OF REVERSE SIDE
OF RIGHT CERTIFICATE 
 FORM OF ASSIGNMENT 

(To be executed by the registered holder if such holder desires to transfer the Right Certificate) 

FOR VALUE RECEIVED
                            hereby sells, assigns and transfers unto 

 
  
  

(Please print name and address of transferee) 
  

 
 Rights represented by this Right Certificate,
together with all right, title and interest therein, and does hereby irrevocably constitute and appoint             Attorney, to transfer said Rights on the books of the within-named
Company, with full power of substitution. 
 Dated:
                ,         
  

	
	   

	Signature

 Signature Guaranteed: 

Signatures must be guaranteed by a bank, trust company, broker, dealer or other eligible institution participating in a recognized signature
guarantee medallion program. 
 The undersigned hereby certifies that the Rights evidenced by this Right Certificate are not beneficially
owned by, were not acquired by the undersigned from, and are not being sold, assigned or transferred to, an Acquiring Person or any Related Person thereof (as defined in the Rights Agreement). 

 

	
	   

	Signature

  
  

  
 B-4 

 Form of Reverse Side of Right Certificate — continued 

FORM OF ELECTION TO PURCHASE 

(To be executed if holder desires to exercise Rights represented by the Right Certificate) 

To the Rights Agent: 
 The undersigned hereby
irrevocably elects to exercise                      Rights represented by this Right Certificate to purchase the shares of Series A Junior
Participating Preferred Stock (or other securities or property) issuable upon the exercise of such Rights and requests that certificates for such shares of Series A Junior Participating Preferred Stock (or such other securities) be issued in the
name of: 
  
  

(Please print name and address of transferee) 
  

 
 If such number of Rights shall not be all the Rights
evidenced by this Right Certificate, a new Right Certificate for the balance remaining of such Rights shall be registered in the name of and delivered to: 

Please insert social security or other identifying number:
                                         

 
  

(Please print name and address of transferee) 
  

 
  

							
	Dated:                     ,             	 		  	  

		 		  	Signature
			
		 		  	(Signature must conform to holder
specified on Right Certificate)

 Signature Guaranteed: 

Signatures must be guaranteed by a bank, trust company, broker, dealer or other eligible institution participating in a recognized signature
guarantee medallion program. 
 The undersigned hereby certifies that the Rights evidenced by this Right Certificate are not beneficially
owned by, were not acquired by the undersigned from, and are not being sold, assigned or transferred to, an Acquiring Person or any Related Person thereof (as defined in the Rights Agreement). 

 

	
	   

	Signature

  
 B-5 

 Form of Reverse Side of Right Certificate — continued 

NOTICE 

The signature in the Form of Assignment or Form of Election to Purchase, as the case may be, must conform to the name as written upon the face
of this Right Certificate in every particular, without alteration or enlargement or any change whatsoever. 
 In the event the certification
set forth above in the Form of Assignment or the Form of Election to Purchase, as the case may be, is not completed, such Assignment or Election to Purchase will not be honored and the Company may deem the Beneficial Owner of the Rights evidenced by
this Right Certificate to be an Acquiring Person or any Related Person thereof. 
  

 

  
 B-6

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