Document:

Third Amendment to Sublease

 Exhibit 10.45 

THIRD AMENDMENT TO SUBLEASE BETWEEN 

325 CORPORATE DRIVE II, LLC 

AS “SUBLESSOR” 

AND 

BOTTOMLINE TECHNOLOGIES, INC. 

AS “SUBLESSEE” 

THIS THIRD AMENDMENT TO SUBLEASE (this “Third Amendment”) is made by and between 325 CORPORATE DRIVE II, LLC,
(“Sublessor”) and BOTTOMLINE TECHNOLOGIES, INC. (“Sublessee”), the parties to a certain Sublease dated August 31, 2000, as amended by First Amendment to Sublease dated December 29, 2000 and a Second Amendment to
Sublease (the “Second Amendment”) dated September 19, 2001 (as amended, the “Sublease”). All capitalized terms contained in this Third Amendment shall have the meanings given to them in the Sublease; and 

WHEREAS: The Base Term of the Sublease is scheduled to expire in the year 2012, and 

WHEREAS: The parties desire to amend the Sublease to extend the Term thereof and modify certain other terms and conditions thereof.

 NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged and agreed,
the parties agree that the Sublease shall be, and is hereby, amended as follows: 
  

	1.	 The defined terms “Subleased Premises”, “Premises” and “Premises Subleased”
shall mean 59,882 square feet of space located on the
1st ,
3rd and
4th floor(s) of the 96,611 square foot building at 325
Corporate Drive, Portsmouth, New Hampshire (the “Building”) which Premises are shown in the Plans attached hereto as Exhibit 1 hereto. In addition to the foregoing, effective July 1, 2010, Sublessee shall occupy an additional
5,999 rentable square feet, as shown on Exhibit 2 attached hereto, upon the same terms and conditions of the Sublease, as amended by this Third Amendment, except as otherwise expressly set forth herein to the contrary. Notwithstanding
anything contained in the Lease, as amended hereby, the contrary, Sublessor and Sublessee acknowledge and agree that from and after July 1, 2010, the defined terms “Subleased Premises”, “Premises”
and “Premises Subleased” shall mean 65,881 square feet of space. 

  

	2.	Exhibit 2 to the Sublease and Exhibit 1 to the Second Amendment are deleted in their entirety and Exhibit 1 hereto is added in their place. Exhibit
1 hereto is a plan or plans showing the “Subleased Premises” or “Premises” leased under the Sublease, as amended hereby. In addition, Sublessee shall have the right to use four (4) parking spaces in the Building’s
parking lot for every 1000 RSF leased by it under the Sublease, as amended hereby. 

  

	3.	Section 2.9 of the Sublease is deleted in its entirety. 

  

	4.	Notwithstanding anything contained to the contrary in the Sublease, throughout the Base Term of the Sublease, as the same may be extended, commencing on June 1,
2010: 

  

	 	(a)	the Building operating hours shall be 8:00 am through 9:00 pm on weekdays and 9:00 am through 1:00 pm on weekends. Sublessee shall have 24 hour access to the Subleased
Premises. The Building’s holiday schedule will comply with the Federal holiday schedule (and the following day when a holiday occurs on a Sunday), 

	 	(b)	Sublessor, at its sole cost and expense, shall maintain the current electronic security system at all entry doors to the Building, and 

 

	 	(c)	Sublessor shall keep and maintain the Common Areas, exterior and egress to the Building in compliance with all applicable governmental statutes, regulations, rules, and
laws including the ADA. 

  

	5.	Section 3.1 of the Sublease is hereby amended to provide that the Base Term of the Sublease shall be extended through April 30, 2022.

  

	6.	Section 4.1 of the Sublease is deleted in its entirety and the following substituted therefore: 

“4.1. The Base Rent due from Sublessee to Sublessor during the annual period commencing May 1, 2010 (Year 1) shall be
calculated by multiplying the number of square feet included in the Subleased Premises by Ten Dollars and Fifty Cents ($10.50). For each year commencing May 1, 2011, the Base Rent due hereunder shall be increased by a percentage of the previous
year’s Base Rent, which percentage shall be the lesser of (a) five (5) times the increase in the Consumer Price Index for the previous calendar year, or (b) Two and Four Tenths Percent (2.4%) annually, but in no event shall
there be a reduction in the annual rent. By way of example, the following Base Rent schedule has been calculated assuming that there are 65,881 square feet of space within the Subleased Premises and that the annual increase is 2.4% for each year
during the Base Term: 
  

											
	 Months
	  	Annual Amount	 	 	Per Sq. Ft.	  	Monthly Payment
	 1 –
61
	  	$	628,761.00	* 	 	$	10.50	  	$	52,396.75
	 7 – 12
	  	$	691,750.50	* 	 	$	10.50	  	$	57,645.88
	 13 – 24
	  	$	708,220.75	  	 	$	10.75	  	$	59,018.40
	 25 – 36
	  	$	725,349.81	  	 	$	11.01	  	$	60,445.82
	 37 – 48
	  	$	742,478.87	  	 	$	11.27	  	$	61,873.24
	 49 – 60
	  	$	760,266.74	  	 	$	11.54	  	$	63,355.56
	 61 – 72
	  	$	778,713.42	  	 	$	11.82	  	$	64,892.79
	 73 – 84
	  	$	797,818.91	  	 	$	12.11	  	$	66,484.91
	 85 – 96
	  	$	816,924.40	  	 	$	12.40	  	$	68,077.03
	 97 – 108
	  	$	836,029.89	  	 	$	12.69	  	$	69,669.16
	 109 – 120
	  	$	856,453.00	  	 	$	13.00	  	$	71,371.08
	 121 – 132
	  	$	876,876.11	  	 	$	13.31	  	$	73,073.01
	 133 – 144
	  	$	897,958.03	  	 	$	13.63	  	$	74,829.84

  

	*	annualized 

For purposes of this Sublease, the term “Consumer Price Index” shall mean the Consumer Price Index (All Urban Consumers, All
Cities Average) issued by the Bureau of Labor Statistics of the United States for the period from the first (1st) day of such previous calendar year through the last day of such previous year. In no event shall the Base Rent due hereunder in
any year during the Base Term hereof be less than the Base Rent due during the immediately preceding year.” 
  

	7.	A new Section 4.2.1 is added to the Sublease, which Section reads as follows: 

“4.2.1. Rent Net to Sublessor. It is understood and agreed between the parties hereto that the Rent, Additional Rent and other
amounts herein reserved are intended to be net rents, and that Sublessor shall 
  

	1
	 based on 59,882 square feet in the Premises. 

 
at all times be entitled to receive such rents in full. Sublessee shall pay the Rent, Additional Rent and other amounts herein reserved promptly, without demand therefor, and without any
abatement, suspension, setoff or deduction of any kind whatsoever, except as expressly provided in the Sublease. In the event of a default in the payment of Additional Rent or other amounts herein reserved, Sublessor shall have the same remedies as
in the case of a default in the payment of Rent.” 
  

	8.	Section 4.3 is amended by deleting subsection 4.3.1 (ii) (a), and adding thereto a new subsection 4.3.1 (iv) which reads as follows:

 “(iv) Ground Rent. Shall mean the rental payments made or to be made under Sublessor’s lease with
the PDA (or its successors or assigns) for the property located at 325 Corporate Drive, Portsmouth, New Hampshire, including rent and additional rent.” 
  

	9.	Section 4.3.2 of the Sublease is deleted in its entirety and the following substituted therefore: 

“4.3.2 Sublessee’s Payments. (a) Sublessee shall be responsible for Sublessee’s Proportionate Share of
Operating Expenses, Utility Expenses, and Ground Rent. 
 (b) Sublessor shall annually estimate the Operating Expenses,
Utility Expenses and Ground Rent. Sublessor’s estimate for the calendar year 2010 is: Operating Expenses and Utility Expenses - $3.53 per RSF; Ground Rent - $1.18 per RSF. As of each anniversary date the Sublessor shall reconcile the estimated
expenses with the actual expenses, and determine the estimated payments for the next 12 month period. Estimated payments by Sublessee on account of Sublessee’s Proportionate Share of Operating Expenses, Utility Expenses and Ground Rent shall be
made monthly and at the time and in the fashion herein provided for the payment of Base Rent. Sublessor shall use its best efforts to, within ninety (90) days following the end of each Operating Year, submit to Sublessee a reasonably detailed
accounting of Operating Expenses, Utility Expenses and Ground Rent for such Year, together with reasonable documentation supporting the same, and Sublessor shall certify to the accuracy thereof. If estimated payments theretofore made for such Year
by Sublessee exceed Sublessee’s required payment on account thereof for such Year, according to such statement, Sublessor shall credit the amount of overpayment against subsequent obligations of Sublessee with respect to Operating Expenses,
Utility Expenses and Ground Rent (or refund such overpayment if the Term of this Sublease has ended and Sublessee has no further obligation to Sublessor), but, if the required payments on account thereof for such Year are greater than the estimated
payments (if any) theretofore made on account thereof for such Year, Sublessee shall make payment to Sublessor within thirty (30) days after being so advised by Sublessor. Sublessor shall have the same rights and remedies for the nonpayment by
Sublessee of any payments due on account of Operating Expenses, Utility Expenses and Ground Rent as Sublessor has hereunder for the failure of Sublessee to pay Base Rent. 

(c) “Sublessee’s Proportionate Share” shall mean a fraction, the numerator of which is the number of rentable square
feet in the Premises, and the denominator of which is the number of rentable square feet in the Building, unless it is determined that Sublessee’s use exceeds its proportionate share, in which case the parties shall determine an equitable
payment methodology.” 
  

	10.	Sublessor shall use best efforts to, within 90 days of the execution of this Third Amendment, at its sole cost and expense, cause the electricity that is furnished to
the Subleased Premises (for light, plugs and HVAC (to the extent reasonably possible)) to be separately submetered. Following such submetering, Sublessee shall pay its electrical costs for that electricity supplied to the Premises which is
separately sub-metered to Sublessor based on its actual consumption of electricity. 

	11.	Article 5 of the Sublease is hereby amended by changing the Caption thereof to read “TAXES” rather than “TAXES AND UTILITIES”.

  

	12.	Notwithstanding anything contained to the contrary in the Sublease, as amended hereby, Sublessor shall, at its sole cost and expense, maintain a lobby directory and
directional signs at the entrance of the Building. Sublessee shall have the right to place its signage on such directory and directional signs; such signage to reflect Sublessee’s occupancy of the Subleased Premises and Sublessee’s
relative occupancy of the Building compared to other tenants in the Building in both sign and lettering size. In addition the foregoing, Sublessee shall have the right to maintain existing signage installed in, on or around the Building and
Premises, including any existing Building façade signage. 

  

	13.	Notwithstanding anything contained to the contrary in the Sublease, as amended hereby, within three hundred sixty-five (365) days following the Effective Date,
Sublessor shall use its best efforts, at its sole cost and expense, to engage one or more third-party consultants reasonably acceptable to perform both an energy-efficiency audit of the Building and an assessment of the Building to determine what
changes, modifications or upgrades would be required for the Building to achieve certification under the U.S. Green Building Council’s LEED for Existing Buildings certification program. Sublessor shall promptly provide copies of such audits
and/or assessments to Sublessee upon Sublessor’s receipt, but shall be under no obligation to make any recommended changes, modifications or upgrades proposed therein. 

 

	14.	Section 21.3 of the Sublease is hereby deleted in its entirety and the following substituted therefore: 

“21.3 Expansion Options. Provided no event of default has occurred under the Sublease, Sublessee shall have the right and option
to expand the space which comprises the Subleased Premises as follows: 
  

	 	(a)	Sublessee shall have the option to expand the Subleased Premises to include Option Space B, consisting of 4,933 rentable square feet, as shown on Exhibit 2
hereto, such option exercisable by written notice to Sublessor delivered no later than May 31, 2011. 

  

	 	(b)	During the period from May 1, 2010 through April 30, 2015 (the “First Offer Period”), if any space in the Building should become available for
rent, Sublessor shall first offer such space to Sublessee by giving Sublessee written notice identifying such available space (the “Offer Space”). Sublessee shall then have the right, within thirty (30) days after receiving
Sublessor’s notice, to exercise its right expand the Subleased Premises to include such space by providing written notice to Sublessor. If Sublessee does not timely exercise said right, then Sublessor shall be free to sublease the Offer Space
to a third party or parties on such terms as Sublessor deems appropriate. 

  

	 	(c)	If, prior to March 30, 2018, Option Space C, consisting of 14,113 rentable square feet, as shown on Exhibit 2 hereto (the “Alpha Flying Space”)
should become available for rent, Sublessor shall first offer such space to Sublessee by giving Sublessee written notice identifying such available space Sublessee shall then have the right, within thirty (30) days after receiving
Sublessor’s notice, to exercise its right expand the Subleased Premises to include the Alpha Flying Space by providing written notice to Sublessor. If Sublessee does not timely exercise said right, then Sublessor shall be free to sublease the
Alpha Flying Space to a third party or parties on such terms as Sublessor deems appropriate. Notwithstanding the foregoing, in the event Sublessor shall fail to enter into a sublease with a prospective sublessee within one hundred eighty
(180) days following Sublessee’s election not to sublease such space pursuant to this Section 21.3(c), Sublessor will resubmit for Sublessee’s review the good faith terms on which Sublessor is offering such space.

  

	 	(d)	 In the event Sublessee shall exercise its option rights under subparagraphs (a) - (c) above: (i) the per square foot rental rate shall be the
same per square foot charge paid by the Sublessee under Article 4.1 of this Sublease plus any other additional charges payable by the Sublessee under this 

	 	 
Lease, (ii) Sublessee’s Proportionate Share shall be increased to reflect the additional space, (iii) the space in question will be delivered to Sublessee in “as is”
condition, and (iv) all other terms and conditions of the Sublease, including the Term, shall apply to such additional space; provided, however, that should the Sublessee exercise its option rights under subparagraph (a) above,
Sublessee shall have one hundred twenty (120) days of free rent in which Sublessee shall promptly prepare plans and specifications for the work it deems necessary to build out the interior of the Offer Space and/or Alpha Flying Space, as
applicable (which plans shall be subject to Sublessor’s approval, not to be unreasonably withheld) and complete such build out at its own cost and expense. No fee will be due Sublessor for its review of any plans submitted to it by Sublessee
under this subsection 21.3 (d). 

  

	 	(e)	All construction work by Sublessee required or permitted by Section 21.3 of this Sublease shall be done in a good and workmanlike manner, and in compliance with
all applicable laws and all lawful ordinances, regulations and orders of governmental authority and insurers of the Premise and Article 10 of this Sublease. Sublessee shall pay, when due, any and all amounts owed for material and/or labor used in
connection with such construction, and shall defend, indemnify and hold Sublessor harmless from any and all claims arising out of such construction. Sublessee shall promptly cause any mechanics liens placed on the property located at 325 Corporate
Drive, Portsmouth, New Hampshire to be released and discharged.” 

  

	15.	Article 28 of the Sublease is hereby deleted in its entirety and the following substituted therefore: 

“ARTICLE 28. NOTICES All notices and other communications authorized or required hereunder shall be in writing and shall be
given by mailing the same certified or registered mail, return receipt requested, postage prepaid or by mailing the same by Express Mail or by having the same delivered by a commercial delivery service to the following address, until either party
shall notify the other in writing of a different address: 
  

			
	 If to Sublessor:
	 	325 Corporate Drive II, LLC
		 	210 Commerce Way, Suite 100
		 	Portsmouth, NH 03801
		 	Attention: Michael Kane
		
		 	with copy to:
		
		 	Henry B. Stebbins, Esq.
		 	Stebbins, Lazos & Van Der Beken
		 	66 Hanover Street
		 	Manchester, NH 03101
		
	 If to Sublessee:
	 	Bottomline Technologies, Inc.
		 	325 Corporate Drive
		 	Portsmouth, NH 03801
		 	Attention: Kevin Donovan
		
		 	with copy to:
		
		 	Paul Jakubowski, Esq.
		 	WilmerHale
		 	60 State Street
		 	Boston, MA 02109

			
		
		 	and
		
		 	Stanley, Esrey & Buckley, LLP
		 	1230 Peachtree Street, Suite 2400
		 	Atlanta, GA 30309
		 	Attention: Robert E. Stanley, Esq.

The date of giving any notice shall be deemed to be the date upon which delivery is actually made by one of the methods described in
this Article 28 (or attempted if said delivery is refused or rejected).” 
  

	16.	The parties hereto acknowledge that they have dealt with no real estate brokers in relation to this Sublease, except Sublessee’s broker, CresaPartners (the
“Broker”) who shall be paid a commission by Sublessor equal to five percent (5%) of the gross rent (Base Rent + Ground Rent + RE Taxes and Operating Expenses) paid by Sublessee to Sublessor hereunder for the period May 1, 2012
through April 30, 2022 hereunder. The commission shall be deemed earned upon the execution of this Third Amendment by both parties hereto and shall be payable thirty (30) days following such execution. Sublessor acknowledges and agrees
that the Broker shall have the right to designate a portion of such commission as a credit against Base Rent accruing under the Sublease, as amended hereby, and in such event Sublessor agrees to reduce the commission by the amount of such credit and
apply the credit to Sublessee’s account. 

  

	17.	Notwithstanding anything contained to the contrary in the Sublease, as amended hereby, Sublessor warrants and represents to the best of its knowledge and belief, as of
the Effective Date, the property is free from contamination by Hazardous Materials or Hazardous Substances and complies with all environmental laws. 

  

	18.	Renewal Option. 

(a) Notwithstanding anything contained to the contrary in the Sublease, provided Sublessee is not then in default on any
of its obligations under the Sublease, Sublessee shall have the right to extend the Base Term, as extended hereby, for two (2) additional terms of five (5) years each (each, a “Renewal Term”) under the same terms and conditions
as the initial Base Term (other than Base Rent), subject to the terms and conditions set forth herein. 
 (b)
Sublessee shall provide to Sublessor not less than twelve (12) months’ written notice, prior to the expiration of the then current Base Term, of Sublessee’s intention to so extend (each such notice from Sublessee being hereinafter
referred to as a “Renewal Notice”). Within thirty (30) days after receiving a Renewal Notice, Sublessor shall notify Sublessee of the proposed annual Base Rent for the Renewal Term in question, which proposed annual Base Rent shall be
the lesser of (y) the then current Sublease rate for the last month of the initial Base Term or the first Renewal Term (as the case may be) or (z) ninety-five percent (95%) of the “Market Rental Rate” for the Subleased
Premises. “Market Rental Rate” shall mean the net effective rental, as of the date for which such Market Rental Rate is being calculated, per annum per rentable square foot (with annual adjustments) for comparable space of comparable size
for a similar term in arms’ length transactions, taking into account all current market rental conditions for comparable space within the Portsmouth, New Hampshire market, including, but not limited to, rental concessions, brokerage
commissions, tenant improvements and improvement allowances. 

 (c) Sublessee shall then have thirty (30) days to notify Sublessor
whether Sublessee accepts or rejects Sublessor’s Base Rent proposal, with the failure of Sublessee to accept Sublessor’s proposal in writing deemed to constitute a rejection of Sublessor’s proposal. If Sublessee rejects
Sublessor’s proposal, then for a period of thirty (30) days, beginning with the date of such rejection (or presumed rejection), Sublessor and Sublessee shall use good-faith efforts to agree in writing on Base Rent for the Renewal Term in
question. In the event that Sublessor and Sublessee fail, within such thirty (30) day period, to agree on the Base Rent for the Renewal Term in question, Sublessor and Sublessee shall each appoint an “Appraiser” to determine the
Market Rental Rate. Each “Appraiser” shall be an MAI appraiser with at least ten (10) years experience valuing commercial properties in the City of Portsmouth. Neither an Appraiser nor the employer of either Appraiser shall have been
employed by the entity selecting such Appraiser within the previous five (5) years. If the total Base Rent for the entire Renewal Term in question set forth in the respective Market Rental determinations of the Appraisers differs by ten percent
(10%) or less, the Base Rent for that Renewal Term shall be ninety five percent (95%) of the average of the amounts. If the total Base Rent for the entire Renewal Term in question set forth in the Market Rental determinations of the
Appraisers differs by more than ten percent (10%), then the two Appraisers, within ten (10) days after delivering their respective valuations, shall appoint another Appraiser meeting the criteria set forth above, and the third Appraiser shall,
within thirty (30) days after his or her appointment, make another determination of the Market Rental Rate. Ninety five percent (95%) of the average of (i) the third Appraiser’s determination and (ii) the other determination
closest to the third Appraiser’s determination, shall be Market Rental, and such average shall be conclusive and binding on Sublessor and Sublessee. 

(d) Each Renewal Notice shall be irrevocable, and Sublessee shall be unconditionally obligated to sublease the Subleased
Premises during the Renewal Term in question once the Renewal Notice is sent. Upon the exercise of a renewal option, and the determination of Base Rent, either party may require the other to enter into an Amendment to the Sublease to memorialize
such exercise. 
  

	19.	Acceptance of Premises and Improvements. 

(a) Sublessee accepts the Subleased Premises in their current condition, “as is” to the extent Sublessee is not
receiving any tenant allowance from Sublessor in connection with the execution of this Third Amendment, and, except as specifically provided herein or in the Lease, Sublessor shall provide no “Tenant Improvements” thereto. Nothing
contained herein, however, shall be deemed to alter or modify Sublessor’s maintenance and repair obligations as specifically set forth in the Sublease. 

(b) Within thirty (30) days following the Effective Date, Sublessor, at its sole cost and expense, shall construct
those demising partitions in the Subleased Premises in locations designated by Sublessee, if any, shown on Exhibit 3 thereto, which shall be taped and ready to receive Sublessee’s covering. Further, Sublessor warrants and represents that
the HVAC, electrical and plumbing services serving the portion of the Subleased Premises shown on Exhibit 2 and the Common Area lighting fixtures shall be in good working order as of the Effective Date. In addition, within ninety (90) days
following the Effective Date, Sublessor, at its sole cost and expense, shall cause the maintenance obligations, more particularly set forth on Exhibit 3 attached to this Third Amendment and made a part hereof, to be completed; provided,
however, nothing contained in this Third Amendment shall be construed as to limit Sublessor’s maintenance and repair obligations as more particularly described in the Sublease. Notwithstanding the foregoing, to the extent such maintenance
obligations cannot be completed within such ninety (90) day period, then Sublessor shall have a reasonable amount of time to complete such maintenance obligations, provided Sublessor commences the repair of the maintenance obligations within
such ninety (90) day period and Sublessor diligently pursues the completion of the same. 

 (c) Notwithstanding anything contained to the contrary in the Sublease, as
amended hereby, in the event Sublessee elects to perform certain improvements in the space in the Building it exercises its option to expand into pursuant to Section 21.3 hereof (the “Exercised Option Space”), Sublessee, at its sole
cost and expense, shall perform such improvements in the Exercised Option Space in accordance with plans and specifications approved in advance by Sublessor and, if required, the PDA, such approval not to be unreasonably withheld, conditioned or
delayed by Sublessor. Additionally, in the event Sublessee elects to have a preliminary test fit plan for such Exercise Option Space performed prior to the commencement of any improvements in the Exercised Option Space, then Sublessor shall provide
an allowance to Sublessee in the amount of $0.10 multiplied by the number of square feet in the subject Exercised Option Space to be applied by Sublessee to such preliminary test fit plan. 

(d) Any improvements in the Subleased Premises to be constructed by Sublessee shall be (i) in accordance with plans
and specifications approved in advance by Sublessor and, if required under the Prime Lease, the PDA, such approval not to be unreasonably withheld, conditioned or delayed by Sublessor, (ii) shall be done in a good and workmanlike manner, and in
compliance with all applicable laws and all lawful ordinances, regulations and orders of governmental authority and insurers of the Premise and Article 10 of this Sublease, and (iii) performed by Sublessee through a licensed, general contractor
approved in advance by Sublessor, such approval not to be unreasonably withheld, conditioned or delayed; provided, however, Sublessor acknowledges and agrees that Sublessee shall not be required to use union contractors and subcontractors in
connection with the construction of such improvements in the Subleased Premises. Sublessee shall pay, when due, any and all amounts owed for material and/or labor used in connection with such construction, and shall defend, indemnify and hold
Sublessor harmless from any and all claims arising out of such construction. Sublessee shall promptly cause any mechanics liens placed on the property located at 325 Corporate Drive, Portsmouth, New Hampshire to be released and discharged. In no
event shall Sublessee be required to pay a construction management fee and/or any other fee to Sublessor or its representatives, employees or agents in connection with Sublessor’s review of Sublessee’s proposed plans and specifications for
the construction such improvements. During Sublessee’s construction of the improvements in the Subleased Premises, Sublessee shall have the right, at no additional cost to Sublessee, to access and use the freight elevators and the Common Areas
of the Building at all times provided it does not interfere with other Tenant’s use of the Building. 
  

	20.	Right of First Offer to Purchase Building: 

(a) At any time during the Base Term, as extended hereby, Sublessor desires to sell the Building to any third-party (a
“Proposed Sale”), then Sublessor shall give Sublessee written notice (“Offer Notice”) of the proposed selling price which Sublessor intends to offer and accept (the “Proposed Sale Price”), together with any other
material terms or conditions that Sublessor intends to give or require in connection with such Proposed Sale (collectively, the “Proposed Sale Terms”) and, Sublessor shall offer to sell to Sublessee the Building for the Proposed Sale Price
and on the Proposed Sale Terms, as may be applicable. 
 (b) Sublessee shall have a period of thirty
(30) days from the date of receipt of the Offer Notice (“Offer Period”) in which to accept such offer and agree to purchase the Building on the Proposed Sale Terms. Any such acceptance by Sublessee shall be in writing. If Sublessee
accepts such offer specified in the Offer Notice in accordance with the foregoing provisions Sublessor shall be bound to sell the Building on the terms and conditions set forth in the Offer Notice, and Sublessee shall be bound to purchase the
Building in accordance with such Offer Notice, unless during the thirty (30) days following Sublessee’s acceptance (the “Inspection Period”), Sublessee determines, in its reasonable

 
judgment, that there are matters related to the Building that are unsatisfactory to Sublessee. If Sublessee determines that there are any such unsatisfactory conditions, Sublessee shall notify
Sublessor in writing prior to the expiration of the Inspection Period and shall not be obligated to purchase the Building. Upon such failure to accept such offer, or the termination of such acceptance as provided for herein, the Sublease, as amended
hereby, shall continue in full force and effect but the right of first offer provided herein shall be deemed waived as long as the Sublessor places the Building on the market for sale within a reasonable time. Notwithstanding the foregoing,
Sublessee’s right of first offer to purchase the Building shall continue in full force and effect in the event Sublessor shall take the Building off the market for sale but thereafter Sublessor elects to place the Building back on the market
for sale. As used herein, the Building shall be deemed “off the market for sale” upon the occurrence of the following: (i) Sublessor is no longer actively marketing the Building for sale; (ii) Sublessor has ceased marketing the
Building for sale for a continuous period of one hundred eighty (180) consecutive days; and (iii) the term of any listing agreement entered into between Sublessor and any third party has expired and Sublessor has not entered into another
listing agreement within one hundred eighty (180) days following the expiration of the term of such listing agreement. 

(c) If the offer has not been timely accepted by Sublessee as hereinabove provided, then Sublessor, upon obtaining a
written contract for the sale of the Building, which contract (i) is for a selling price not less than ninety percent (90%) of the Proposed Sale Price rejected by Sublessee (“Threshold Sale Price”), and (ii) conforms in all
material respects to the Proposed Sale Terms, shall have the right to consummate such sale. 
 (d)
Notwithstanding anything contained in this Third Amendment to the contrary, the rights of Sublessee set forth in this Section 20 shall not be triggered as a result of any sale or transfer of less than all of the ownership interests in Sublessor
(or the discussion or negotiation of the same) by and among the existing partners and/or members of Sublessor. 
  

	21.	Assignment. 

(a) The first clause of the first sentence of Section 21.1 of the Sublease is deleted in its entirety and replaced
with the following: 
 “21.1. Assignment. Sublessee shall not assign this Sublease without the written
consent of Sublessor and the PDA, such consent not to be unreasonably withheld, conditioned or delayed;” 

(b) The last sentence of the third paragraph of Section 21.2 of the Sublease is hereby deleted in its entirety.
Notwithstanding such deletion, the parties hereby agree that excepting leases to affiliates and subsidiaries and to the extent not otherwise agreed between Sublessor and Sublessee, in no event shall the rent charged by Sublessee be less than
seventy-five percent (75%) of the Market Rental Rate as calculated in accordance with Section 18 of this Third Amendment. 

(c) The last paragraph of Section 21.2 of the Sublease is hereby deleted in its entirety and replaced with the
following: 
 “Sublessee shall have the right to employ or use a broker reasonably acceptable to Sublessor to market the
Subleased Premises or any portion thereof.” 

	22.	Section 4.3.1(ii)(l) of the Sublease is deleted in its entirety and replaced with the following: 

“Management fees paid or charges by Sublessor in connection with the management of the Building to the extent such management fee is
in excess of the management fee customarily paid or charged by sublessors and/or landlords of comparable buildings in the vicinity of the Building. In furtherance of the foregoing, Sublessor agrees to competitively bid the contract for management
services for the Building annually and to provide to Sublessee copies of any and all bids received by Sublessor with respect to third-party management services for the Building.” 

 

	23.	Simultaneously with its execution of this Third Amendment, Sublessor shall execute and deliver to Sublessee an amendment to the memorandum of sublease, in recordable
form setting forth, among other things, the right of first offer to purchase the Building granted to Sublessee in accordance with this Third Amendment. 

  

	24.	Notwithstanding anything contained to the contrary in the Sublease, as amended hereby (including Section 10.1 of the Sublease), Sublessee shall have the right to
make interior, nonstructural alterations, improvements and additions to the Subleased Premises not effecting the primary systems of the Building, including, without limitation, electrical, plumbing, security and HVAC, as Sublessee deems necessary or
desirable up to Ten Thousand and 00/100 Dollars ($10,000.00) in the aggregate per calendar year without obtaining Sublessor’s and/or the PDA’s consent (as applicable), subject, however, to the provisions of Section 19
(d) (ii) and (iii) above, and provided Sublessee shall pay, when due, any and all amounts owed for material and/or labor used in connection with such, alterations, improvements and additions and shall defend, indemnify and hold
Sublessor harmless from any and all claims arising out of such alterations, improvements and additions. Sublessee shall promptly cause any mechanics liens placed on the property located at 325 Corporate Drive, Portsmouth, New Hampshire to be
released and discharged. 

  

	25.	Section 18.3 of the Sublease is hereby deleted in its entirety. Within ten (10) days following the Effective Date, Sublessor shall return to Sublessee the
original irrevocable letter of credit currently provided to Sublessor by Sublessee in connection with the execution of the Second Amendment. 

  

	26.	In all other respects, except as herein amended, the parties ratify and confirm that the terms and provisions contained in the Sublease shall remain in full force and
effect and continue to apply to and bind the parties. 

 [Signatures Appear on Following Page] 

 IN WITNESS WHEREOF, Sublessor and Sublessee have executed this Third
Amendment to Sublease effective as of the 30th day of
June, 2010 (the “Effective Date”). 
  

			
	 SUBLESSOR:

	
	 325 CORPORATE DRIVE II, LLC

		
	 By:
	 	 /s/ Michael Kane

	Its:	 	Member
	
	 SUBLESSEE:

	
	 BOTTOMLINE TECHNOLOGIES, INC.

		
	 By:
	 	 /s/ Kevin
Donovan

			
	 Name:
	 	 Kevin Donovan

			
	 Its:
	 	CFO

 STATE OF NEW HAMPSHIRE 

COUNTY OF ROCKINGHAM 

On this
30th day of June, 2010, personally appeared Michael Kane,
known to me (or proved to me on the basis of satisfactory evidence) to be the                      of 325 CORPORATE DRIVE II, LLC, and on oath
stated that he was authorized to execute this instrument and acknowledged it to be his free and voluntary act for the uses and purposes set forth herein. 

Before me, 
  

			
	 /s/ Charlotte Finigan

	 Notary Public/Justice of the Peace

	 Name:
	 	Charlotte Finigan
	 My Commission Expires: October 21, 2014

 STATE OF NEW HAMPSHIRE 

COUNTY OF ROCKINGHAM 

On this
30th day of June, 2010, personally appeared Kevin Donovan,
known to me (or proved to me on the basis of satisfactory evidence) to be the CFO of BOTTOMLINE TECHNOLOGIES, INC. and on oath stated that he was authorized to execute this instrument and acknowledged it to be his free and voluntary act for the uses
and purposes set forth herein. 
 Before me, 

 

			
	 /s/ Charlotte Finigan

	 Notary Public/Justice of the Peace

	 Name:
	 	Charlotte Finigan
	 My Commission Expires: October 21, 2014Form of Note for 3.95% Senior Note due September 15, 2020

 Exhibit 4.1 

THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF THE DEPOSITARY OR A
NOMINEE OF THE DEPOSITARY, WHICH MAY BE TREATED BY THE COMPANY, THE TRUSTEE AND ANY AGENT THEREOF AS OWNER AND HOLDER OF THIS SECURITY FOR ALL PURPOSES. 

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (AND ANY PAYMENT HEREON IS MADE TO
CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED
OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT
IN PART, TO NOMINEES OF THE DEPOSITORY TRUST COMPANY OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE. 

			
	No. A-1	  	$500,000,000

 CUSIP: 437076AT9 

ISIN NUMBER: US437076AT91 
 The
Home Depot, Inc. 
 Dated: September 10, 2010 

3.95% Senior Note due September 15, 2020 

The Home Depot, Inc., a Delaware corporation (the “Company”), for value received hereby promises to pay to
Cede & Co. or registered assigns the principal sum of FIVE HUNDRED MILLION DOLLARS ($500,000,000) at the Company’s office or agency for said purpose in the City of New York, on September 15, 2020 (the “Maturity”),
in such coin or currency of the United States of America as at the time of payment shall be legal tender for the payment of public and private debts, and to pay interest, semiannually on March 15 and September 15 (each an “Interest
Payment Date”) of each year, commencing on March 15, 2011, on said principal sum in like coin or currency at the rate per annum set forth above at said office or agency from the most recent Interest Payment Date to which interest on
the Securities of this series has been paid or duly provided for or, if no interest on the Securities of this series has been paid or duly provided for, from September 10, 2010. The interest so payable on any Interest Payment Date will,
except as otherwise provided in the Indenture referred to on the reverse hereof, be paid to the person in whose name this Security is registered at the close of business on the March 1 or September 1, as the case may be, preceding the
relevant Interest Payment Date (the “Regular Record Date”) whether or not such day is a Business Day, provided that interest may be paid, at the option of the Company, by mailing a check therefor payable to the registered holder
entitled thereto at such holder’s last address as it appears on the Security Register or by wire transfer, in immediately available funds, to such bank or other entity in the continental United States as shall be designated in writing by such
holder prior to the relevant Regular Record Date and shall have appropriate facilities for such purpose. If and for so long as all of the Securities of this series are represented by Securities in global form, the principal of, premium, if any, and
interest on this global Security shall be paid in same day funds to the Depositary, or to such name or entity as is requested by an authorized representative of the Depositary. 

Reference is made to the further provisions set forth on the reverse hereof. Such further provisions shall for all purposes have the same
effect as though fully set forth at this place. 
 This Security shall not be valid or obligatory until the certificate of
authentication hereon shall have been duly signed by the Trustee acting under the Indenture. 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed under its
corporate seal. 
  

			
	THE HOME DEPOT, INC.
		
	By:	 	  

	Name:	 	
	Title:	 	

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

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

		
	By:	 	  

		 	Authorized Signatory

  

 REVERSE OF SECURITY 

The Home Depot, Inc. 

3.95% Senior Note due September 15, 2020 

This Security is one of a duly authorized issue of debt securities of the Company, issued or to be issued in one or more series pursuant
to an indenture dated as of May 4, 2005 (the “Indenture”), duly executed and delivered by the Company to The Bank of New York Mellon Trust Company, N.A. (formerly known as The Bank of New York Trust Company, N.A.), as Trustee
(herein called the “Trustee,” which term includes any successor trustee under the Indenture). Reference is hereby made to the Indenture and all indentures supplemental thereto for a description of the rights, limitations of rights,
obligations, duties and immunities thereunder of the Trustee, the Company and the holders (the words “holders” or “holder” meaning the registered holders or registered holder) of the Securities of this series.

 This Security will bear interest until final Maturity at the rate per annum shown above. If any Interest Payment Date,
redemption date or the Maturity of the Security is not a Business Day, then payment of principal and interest will be made on the next succeeding Business Day. No interest will accrue on the amount so payable for the period from such Interest
Payment Date, redemption date or Maturity, as the case may be, to the date payment is made. Interest will be computed on the basis of a 360-day year consisting of 12 months of 30 days each. The Company will pay interest on overdue principal of,
premium, if any, and to the extent lawful, interest on overdue installments of interest on this Security, at the same rate. 

In case an Event of Default, as defined in the Indenture, shall have occurred and be continuing with respect to this series of
Securities, the principal of all the outstanding Securities of this series may be declared due and payable, in the manner and with the effect, and subject to the conditions, provided in the Indenture. The Indenture provides that in certain events
such declaration and its consequences may be waived by the holders of a majority in aggregate principal amount of the Securities of this series then outstanding and that, prior to any such declaration, such holders may waive any past default under
the Indenture and its consequences except a default in the payment of principal of, premium, if any, or interest on any of the Securities of this series. Any such consent or waiver by the holder of this Security (unless revoked as provided in the
Indenture) shall be conclusive and binding upon such holder and upon all future holders and owners of this Security and any Security of this series which may be issued in exchange or substitution herefor, whether or not any notation thereof is made
upon this Security or such other Securities of this series. 
 The Indenture permits, with certain exceptions as therein
provided, the Company and the Trustee, with the consent of the holders of at least a majority in aggregate principal amount of the Securities at the time outstanding, evidenced as provided in the Indenture, to execute supplemental indentures adding
any provisions to or changing in any manner or eliminating any of the provisions of the Indenture or of any supplemental indenture or modifying in any manner the rights of the holders of the Securities. 

Notwithstanding the foregoing, without the consent of any holder of Securities of this series, the Company and the Trustee may amend or
supplement the Indenture or the Securities of this series to cure any ambiguity, defect or inconsistency, to provide for uncertificated Securities of this series in addition to or in place of certificated Securities of this series, to provide for
the assumption of the Company’s obligations to holders of Securities of this series in the case of a transaction set forth in Section 10.01 of the Indenture, to evidence and provide for the acceptance of appointment by a successor trustee
and to add to or change any of the provisions of the Indenture necessary to provide for or facilitate the administration of the trusts by more than one trustee, to make any change that would provide any additional rights or benefits to the holders
of Securities of this series or that does not adversely affect the legal rights under the Indenture of any such holder, or to comply with requirements of the Commission in order to maintain the qualification of the Indenture under the Trust
Indenture Act. 
 No reference herein to the Indenture and no provision of this Security shall alter or impair the obligation of
the Company, which is absolute and unconditional, to pay the principal of, premium, if any, and interest on this Security at the place, times, and rate, and in the currency, herein prescribed. 

 The Securities of this series are issuable only as registered Securities without coupons in
denominations of $2,000 and any multiple of $1,000. 
 At the office or agency of the Company referred to on the face hereof and
in the manner and subject to the limitations provided in the Indenture and this Security, Securities of this series may be exchanged for a like aggregate principal amount of Securities of this series of other authorized denominations. 

Upon due presentment for registration of transfer of this Security at the above-mentioned office or agency of the Company, a new Security
or Securities of this series of authorized denominations, for a like aggregate principal amount, will be issued to the transferee as provided in the Indenture. No service charge shall be made for any such transfer, but the Company may require
payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto. 
 Default in
the performance, or breach, of the covenant set forth under “Offer to Repurchase Upon a Change of Control” will be an “Event of Default” under Section 5.01 of the Indenture, and the covenant set forth under such section will
be subject to defeasance in accordance with Section 12.03 of the Indenture. 
 The Company, the Trustee, and any authorized
agent of the Company or the Trustee, may deem and treat the registered holder hereof as the absolute owner of this Security (whether or not this Security shall be overdue and notwithstanding any notation of ownership or other writing hereon made by
anyone other than the Company, the Trustee or any authorized agent of the Company or the Trustee), for the purpose of receiving payment of, or on account of, the principal hereof and premium, if any, and interest hereon and for all other purposes,
and none of the Company, the Trustee nor any authorized agent of the Company or the Trustee shall be affected by any notice to the contrary. 

The Securities of this series are subject to defeasance as set forth in the Indenture. 

No recourse shall be had for the payment of the principal of, premium, if any, or the interest on this Security, for any claim based
hereon, or otherwise in respect hereof, or based on or in respect of the Indenture or any Indenture supplemental thereto, against any incorporator, shareholder, officer or director, as such, past, present or future, of the Company or of any
successor corporation, either directly or through the Company or any successor corporation, whether by virtue of any constitution, statute or rule of law or by the enforcement of any assessment or penalty or otherwise, all such liability being, by
the acceptance hereof and as part of the consideration for the issue hereof, expressly waived and released to the extent permitted by law. 

The Indenture is hereby incorporated by reference and, to the extent of any conflict between the provisions hereof and the Indenture, the
Indenture shall control. Terms used but not defined herein have the meanings assigned to such terms in the Indenture. 
 This
Security shall be deemed to be a contract under the laws of the State of New York, and for all purposes shall be construed in accordance with the laws of said state applicable to contracts entered into and to be performed in said state, except as
may otherwise be required by mandatory provisions of law. 
 Optional Redemption 

The Securities of this series are redeemable in whole or in part, at the option of the Company at any time and from time to time, on not
less than 30 or more than 60 days’ prior notice mailed to the holders of the Securities. Prior to June 15, 2020, the Securities of this series are redeemable at a redemption price equal to the greater of (i) 100% of the principal
amount of the Security to be redeemed or (ii) the sum of the present values of the remaining scheduled payments thereon discounted to the redemption date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the
Treasury Rate plus 20 basis points together in either case with accrued interest on the principal amount being redeemed to the redemption date. At any time on or after June 15, 2020, the Securities of this series are redeemable at any time and
from time to time at a redemption price equal to 100% of the principal amount of the Securities of this series to be redeemed plus accrued interest thereon to the date of redemption. 

 “Treasury Rate” means, with respect to any redemption date, the rate per
annum equal to the semiannual equivalent yield to maturity (computed as of the second Business Day immediately preceding such redemption date) of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a
percentage of its principal amount) equal to the Comparable Treasury Price for such redemption date. 
 “Comparable
Treasury Issue” means the United States Treasury security selected by an Independent Investment Banker that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate
debt securities of comparable maturity to the remaining term of the Securities. “Independent Investment Banker” means one of the Reference Treasury Dealers appointed by the Company. 

“Comparable Treasury Price” means, with respect to any redemption date, (1) the average of the bid and asked prices
for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) on the third Business Day preceding such redemption date, as set forth in the daily statistical release (or any successor release) published by the
Federal Reserve Bank of New York and designated “Composite 3:30 p.m. Quotations for U.S. Government Notes” or (2) if such release (or any successor release) is not published or does not contain such prices on such Business Day,
(a) the average of the Reference Treasury Dealer Quotations for such redemption date, after excluding the highest and lowest of such Reference Treasury Dealer Quotations, or (b) if the Company obtains fewer than four such Reference
Treasury Dealer Quotations, the average of all Reference Treasury Dealer Quotations obtained. 
 “Reference Treasury
Dealer” means Banc of America Securities LLC, J.P. Morgan Securities LLC and Morgan Stanley & Co. Incorporated and their successors and two other nationally recognized investment banking firms that are Primary Treasury Dealers
specified from time to time by the Company, except that if any of the foregoing ceases to be a primary U.S. Government securities dealer in New York City (a “Primary Treasury Dealer”), the Company shall be required to designate as a
substitute another nationally recognized investment banking firm that is a Primary Treasury Dealer. 
 “Reference
Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any redemption date, the average, as determined by the Company, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a
percentage of its principal amount) quoted in writing to the Company (and provided to the Trustee) by such Reference Treasury Dealer as of 3:30 p.m., New York City time, on the third Business Day preceding such redemption date. 

Prior to any redemption date, the Company shall be required to deposit with a paying agent money sufficient to pay the redemption price
of and accrued interest on the Securities to be redeemed on such date. If the Company is redeeming less than all the Securities, the Trustee must select the Securities to be redeemed by such method as the Trustee deems fair and appropriate. Subject
to payment by the Company of a sum sufficient to pay the amount due on redemption, interest on this Security (or portion hereof if this Security is redeemed in part) shall cease to accrue upon the date duly fixed for redemption of this Security (or
portion hereof if this Security is redeemed in part). In the event of redemption of this Security in part only, a new Security or Securities of this series for the unredeemed portion hereof will be issued in the name of the holder hereof upon the
cancellation hereof. On the redemption date, the Company shall deliver to the Trustee an Officers’ Certificate stating the redemption price. 

Offer to Repurchase Upon a Change of Control 

If a Change of Control Triggering Event (as defined below) occurs, unless the Company has exercised its right to redeem the Securities as
set forth herein and in Article 11 of the Indenture, holders of the Securities will have the right to require the Company to repurchase all or any part (equal to $2,000 or an integral multiple of $1,000 in excess thereof) of their Securities
pursuant to the offer described below (the “Change of Control Offer”). In the Change of Control Offer, the Company will be required to offer payment in cash equal to 101% of the aggregate principal amount of Securities repurchased
plus accrued and unpaid interest, if any, on the Securities repurchased, to the date of purchase (the “Change of Control Payment”). Within 30 days following any Change of Control Triggering Event, the Company will be required to
mail a notice to holders of the Securities describing the transaction or transactions that 

 
constitute the Change of Control Triggering Event and offering to repurchase the Securities on the date specified in the notice, which date will be no earlier than 30 days and no later than 60
days from the date such notice is mailed (the “Change of Control Payment Date”), pursuant to the procedures set forth herein and in such notice. The Company must comply with the requirements of Rule 14e-1 under the Securities
Exchange Act of 1934, as amended (the “Exchange Act”) and any other securities laws and regulations thereunder to the extent those laws and regulations are applicable in connection with the repurchase of the Securities as a result
of a Change of Control Triggering Event. To the extent that the provisions of any securities laws or regulations conflict with the provisions set forth herein under Offer to Repurchase Upon a Change of Control, the Company will be required to comply
with the applicable securities laws and regulations and will not be deemed to have breached its obligations under the provisions set forth herein under Offer to Repurchase Upon a Change of Control by virtue of such conflicts. 

On the Change of Control Payment Date, the Company will be required, to the extent lawful, to (i) accept for payment all Securities
or portions of Securities properly tendered pursuant to the Change of Control Offer; (ii) deposit with the paying agent an amount equal to the Change of Control Payment in respect of all Securities or portions of Securities properly tendered;
and (iii) deliver or cause to be delivered to the Trustee the Securities properly accepted together with an Officers’ Certificate stating the aggregate principal amount of Securities or portions of Securities being purchased. 

“Below Investment Grade Rating Event” means the Securities are rated below an Investment Grade Rating by each of the
Rating Agencies (as defined below) on any date from the date of the public notice of an arrangement that could result in a Change of Control until the end of the 60-day period following public notice of the occurrence of the Change of Control (which
60-day period shall be extended so long as the rating of the Securities is under publicly announced consideration for possible downgrade by any of the Rating Agencies). 

“Change of Control” means the occurrence of any of the following: (i) the direct or indirect sale, transfer,
conveyance or other disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all or substantially all of the properties or assets of the Company and its Subsidiaries taken as a whole to any Person
other than the Company or one of its Subsidiaries; (ii) the consummation of any transaction (including, without limitation, any merger or consolidation) the result of which is that any Person becomes the beneficial owner, directly or
indirectly, of more than 50% of the then outstanding number of shares of the Company’s voting stock; or (iii) the first day on which a majority of the members of the Company’s Board of Directors are not Continuing Directors.

 “Change of Control Triggering Event” means the occurrence of both a Change of Control and a Below Investment
Grade Rating Event. 
 “Continuing Directors” means, as of any date of determination, any member of the Board
of Directors of the Company who (i) was a member of such Board of Directors on the date of original issue of this Security; or (ii) was nominated for election or elected to such Board of Directors with the approval of a majority of the
Continuing Directors who were members of such Board of Directors at the time of such nomination or election (either by a specific vote or by approval of the Company’s proxy statement in which such member was named as a nominee for election as a
director, without objection to such nomination). 
 “Fitch” means Fitch Ratings. 

“Investment Grade Rating” means a rating equal to or higher than BBB- (or the equivalent) by Fitch, Baa3 (or the
equivalent) by Moody’s and BBB- (or the equivalent) by S&P. 
 “Moody’s” means Moody’s
Investors Service, Inc. 
 “Person” means any individual, partnership, corporation, limited liability company,
joint stock company, business trust, trust, unincorporated association, joint venture or other entity, or a government or political subdivision or agency thereof. 

“Rating Agencies” means (i) each of Fitch, Moody’s and S&P; and (ii) if any of Fitch, Moody’s or
S&P ceases to rate the notes or fails to make a rating of the notes publicly available for reasons outside of 

 
our control, a “nationally recognized statistical rating organization” within the meaning of Rule 15c3-1(c)(2)(vi)(F) under the Exchange Act, selected by the Company (as certified by a
Board Resolution) as a replacement agency for Fitch, Moody’s or S&P, or all of them, as the case may be. 

“S&P” means Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc.

 FORM OF TRANSFER NOTICE 

FOR VALUE RECEIVED the undersigned registered holder hereby sell(s), assign(s) and transfer(s) unto 

Insert Taxpayer Identification No. 

Please print or typewrite name and address including zip code of assignee of the within Security and all rights thereunder, hereby
irrevocably constituting and appointing                      to transfer said Security on the books of the Company with full power of
substitution in the premises. 
  

	
	  

	By:
	Date:

 SCHEDULE OF INCREASES OR DECREASES IN GLOBAL SECURITY 

The following increases or decreases in this Global Security have been made: 

 

									
	 Date of Exchange
	  	 Amount of decrease

in Principal Amount

of this Global

Security
	  	 Amount of increase

in Principal Amount

of this Global

Security
	  	 Principal Amount of

this Global Security

following such

decrease or increase
	  	 Signature of

authorized officer of

Trustee or Securities

Custodian

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