Document:

EX-4.2

 Exhibit 4.2 
  

 
 SERVICENOW, INC. 

as Issuer 
 and 

WELLS FARGO BANK, NATIONAL ASSOCIATION, 

as Trustee 
 FIRST SUPPLEMENTAL
INDENTURE 
 Dated as of August 11, 2020 

$1,500,000,000 of 1.400% Notes due 2030 
  

 

 THIS FIRST SUPPLEMENTAL INDENTURE (the “First Supplemental Indenture”) is
dated as of August 11, 2020 between SERVICENOW, INC., a Delaware corporation (the “Company”), and Wells Fargo Bank, National Association, a national banking association (the “Trustee”). 

RECITALS 
 A. The Company and the
Trustee executed and delivered an Indenture, dated as of August 11, 2020 (the “Base Indenture” and, as supplemented by the First Supplemental Indenture, the “Indenture”), to provide for the issuance by the
Company from time to time of senior debt securities evidencing its unsecured indebtedness. 
 B. Pursuant to Board Resolutions and an
Officers’ Certificate, the Company has authorized the issuance of $1,500,000,000 aggregate principal amount of 1.400% Notes due 2030 (the “Notes”). 

C. The entry into this First Supplemental Indenture by the parties hereto is in all respects authorized by the provisions of the Base
Indenture. 
 D. The Company desires to enter into this First Supplemental Indenture pursuant to Section 8.1 of the Base Indenture to
establish the terms of the Notes in accordance with Section 2 of the Base Indenture and to establish the form of the Notes in accordance with Sections 2.1 and 2.2 of the Base Indenture. 

E. All things necessary to make this First Supplemental Indenture a valid and legally binding agreement according to its terms have been done.

 NOW, THEREFORE, for and in consideration of the foregoing premises, the Company and the Trustee mutually covenant and agree for the equal
and proportionate benefit of the respective Holders from time to time of the Notes as follows: 
 ARTICLE I 

Section 1.1 Terms of the Notes. 

The following terms relate to the Notes: 

(1) The Notes shall constitute a series of Notes having the title “1.400% Notes due 2030.” 

(2) The aggregate principal amount of the Notes that may be initially authenticated and delivered under the Indenture shall be
$1,500,000,000 (the “Initial Notes”). The Company may from time to time, without the consent of the Holders of Notes, issue additional Notes (in any such case, the “Additional Notes”) having the same ranking and the
same interest rate, Maturity and other terms as the Initial Notes. Any 

 
Additional Notes and the Initial Notes shall each constitute a single series under the Indenture and all references to the Notes shall include the Initial Notes and any Additional Notes, unless
the context otherwise requires; provided that if such Additional Notes are not fungible with the Initial Notes, for U.S. federal income tax purposes, the applicable Additional Notes will have a separate CUSIP number. The aggregate principal amount
of each of the Additional Notes shall be unlimited. 
 (3) The entire outstanding principal of the Notes shall be payable on
September 1, 2030. 
 (4) The rate at which the Notes shall bear interest shall be 1.400% per year. The date from which
interest shall accrue on the Notes shall be the most recent Interest Payment Date to which interest has been paid or provided for or, if no interest has been paid, from August 11, 2020. The Interest Payment Dates for the Notes shall be
March 1 and September 1 of each year, beginning March 1, 2021. Interest shall be payable on each Interest Payment Date to the Holders of record at the close of business on the February 15 and August 15 prior to each Interest
Payment Date (in connection with the Notes, a “regular record date”). The basis upon which interest shall be calculated shall be that of a 360-day year consisting of twelve 30-day months. All Dollar amounts resulting from the calculation of interest shall be rounded to the nearest cent. 

(5) The Notes shall be issuable in whole in the form of one or more registered Global Securities, and the Depository for such
Global Securities shall be The Depository Trust Company, New York, New York. The Notes shall be substantially in the form attached hereto as Exhibit A, the terms of which are herein incorporated by reference. The Notes shall be issuable in
denominations of $2,000 or any integral multiple of $1,000 in excess thereof. 
 (6) The Notes may be redeemed at the option
of the Company prior to the Stated Maturity, as provided in Section 1.3 of this First Supplemental Indenture. 
 (7) The
Notes will not have the benefit of any sinking fund. 
 (8) Except as provided herein, the Holders of the Notes shall have no
special rights in addition to those provided in the Base Indenture upon the occurrence of any particular events. 
 (9) The
Notes will be senior unsecured obligations of the Company and will rank equal in right of payment to all of the Company’s other existing and future senior unsecured indebtedness and among themselves. 

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

(11) The restrictive covenants set forth in Section 1.5 hereof shall be applicable to the Notes. 

  
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 Section 1.2 Additional Defined Terms. 

As used herein, the following defined terms shall have the following meanings with respect to the Notes only: 

“Attributable Debt” means, with respect to any Sale and Leaseback Transaction, at the time of determination, the lesser of
(1) fair market value of such Principal Property as determined in good faith by the Board of Directors, and (2) the total obligation (discounted to the present value at the implicit interest factor, determined in accordance with U.S. GAAP,
included in the rental payments) of the lessee for rental payments (other than amounts required to be paid on account of property taxes as well as maintenance, repairs, insurance, water rates and other items which do not constitute payments for
property rights) during the remaining portion of the base term of the lease included in such transaction. 
 “Change
of Control” means the occurrence of any of the following: (1) the direct or indirect sale, transfer, conveyance or other disposition (other than by way of merger or consolidation), in 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” (as that term is used in Section 13(d)(3) of the Exchange Act) other than to the Company or one of its Subsidiaries;
(2) the adoption of a plan by the Board of Directors of the Company relating to the Company’s liquidation or dissolution; (3) the consummation of any transaction (including, without limitation, any merger or consolidation) the result
of which is that any “person” (as defined above) becomes the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Exchange Act),
directly or indirectly, of more than 50% of the aggregate of the total voting power of the Voting Stock of the Company or other Voting Stock into which the Company’s Voting Stock is reclassified, consolidated, exchanged or changed, measured by
voting power rather than number of shares; provided, however, that a person shall not be deemed beneficial owner of, or to own beneficially, (A) any securities tendered pursuant to a tender or exchange offer made by or on behalf of such person
or any of such person’s Affiliates until such tendered securities are accepted for purchase or exchange thereunder, or (B) any securities if such beneficial ownership (i) arises solely as a result of a revocable proxy delivered in
response to a proxy or consent solicitation made pursuant to the applicable rules and regulations under the Exchange Act, and (ii) is not also then reportable on Schedule 13D (or any successor schedule) under the Exchange Act; or (4) the
Company consolidates with, or merges with or into, any “person” (as defined above), or any “person” (as defined above) consolidates with, or merges with or into, the Company, in any such event pursuant to a transaction in which
any of the outstanding Voting Stock of the Company or the outstanding Voting Stock of such other “person” (as defined above) is converted into or exchanged for cash, securities or other property, other than any such transaction where the
shares of the Company’s Voting Stock outstanding immediately prior to such transaction constitute, or are converted into or exchanged for, a majority of the Voting Stock of the surviving “person” (as defined above) or any direct or
indirect parent company of any surviving “person” (as defined above) immediately after giving effect to such transaction. 

Notwithstanding the foregoing, a transaction will not be deemed to involve a Change of Control if (a) the Company becomes a direct or
indirect wholly owned Subsidiary of a holding company and (b) the holders of the Voting Stock of such holding company immediately following that transaction are substantially the same as the holders of the Company’s Voting Stock
immediately prior to that transaction, subject to the applicable procedures of the Depository. 

  
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 “Change of Control Repurchase Event” means the
occurrence of both a Change of Control and a Ratings Event. 
 “Comparable Treasury Issue”
means the United States Treasury security selected by an Independent Investment Banker as having an actual or interpolated maturity comparable to the period from the redemption date to June 1, 2030 (three months prior to Maturity) (the
“remaining term”) of the applicable Notes to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity
to the remaining term of such Notes. 
 “Comparable Treasury Price” means, with respect to any
Optional Redemption Date, (1) the arithmetic average of the applicable Reference Treasury Dealer Quotations for such Optional Redemption Date after excluding the highest and lowest Reference Treasury Dealer Quotations, (2) if the Company
obtains fewer than four applicable Reference Treasury Dealer Quotations, the arithmetic average of all applicable Reference Treasury Dealer Quotations for such Optional Redemption Date, or (3) if only one Reference Treasury Dealer Quotation is
received, such quotation. 
 “Consolidated Net Tangible Assets” means, as of the time of determination, the
aggregate amount of the assets of the Company and the assets of its consolidated Subsidiaries after deducting (1) all goodwill, trade names, trademarks, service marks, patents, unamortized debt discount and expense and other intangible assets
and (2) all current liabilities (excluding deferred revenues), as reflected on the most recent consolidated balance sheet prepared by the Company in accordance with U.S. GAAP contained in an Annual Report on Form
10-K or a Quarterly Report on Form 10-Q filed or any amendment thereto (and not subsequently disclaimed as not being reliable by the Company) pursuant to the Exchange
Act by the Company prior to the time as of which Consolidated Net Tangible Assets is being determined, or, if the Company is not required to so file, as reflected on its most recent consolidated balance sheet prepared by the Company in accordance
with U.S. GAAP. 
 “guarantee” means any obligation, contingent or otherwise, of any Person directly or indirectly
guaranteeing any indebtedness of any other Person and any obligation, direct or indirect, contingent or otherwise, of such Person (1) to purchase or pay (or advance or supply funds for the purchase or payment of) such indebtedness of such other
Person (whether arising by virtue of partnership arrangements, or by agreement to keep well, to purchase assets, goods, securities or services, to take or pay or to maintain financial statement conditions or otherwise) or (2) entered into for
purposes of assuring in any other manner the obligee of such indebtedness of the payment thereof or to protect such obligee against loss in respect thereof (in whole or in part); provided, however, that the term “guarantee” will not
include endorsements for collection or deposit in the ordinary course of business. The term “guarantee,” when used as a verb, has a correlative meaning. 

“incur” means issue, assume, guarantee or otherwise become liable for. 

  
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 “Independent Investment Banker” means one of the Reference Treasury
Dealers, or their respective successors, as may be appointed from time to time by the Company; provided, however, that if the foregoing ceases to be a primary U.S. Government securities dealer in the United States of America (a “primary
treasury dealer”), the Company will substitute another primary treasury dealer. 
 “Investment Grade” means a
rating of Baa3 or better by Moody’s (or its equivalent under any successor Rating Categories of Moody’s); a rating of BBB- or better by S&P (or its equivalent under any successor Rating
Categories of S&P); or, if applicable, the equivalent investment grade credit rating from any Substitute Rating Agency. 

“Moody’s” means Moody’s Investors Service, Inc. 

“Non-recourse Obligation” means indebtedness or other obligations substantially
related to (1) the acquisition of assets not previously owned by the Company or any direct or indirect Subsidiaries of the Company or (2) the financing of a project involving the development or expansion of properties of the Company or any
direct or indirect Subsidiaries of the Company, as to which the obligee with respect to such indebtedness or obligation has no recourse to the Company or any direct or indirect Subsidiary of the Company or such Subsidiary’s assets other than
the assets which were acquired with the proceeds of such transaction or the project financed with the proceeds of such transaction (and the proceeds thereof). 

“Optional Redemption Date” when used with respect to any Note to be redeemed at the Company’s option, means the date
fixed for such redemption by or pursuant to Section 1.3 of this First Supplemental Indenture. 
 “Optional Redemption
Price” when used with respect to any Note to be redeemed at the Company’s option, means the price at which it is to be redeemed pursuant to Section 1.3 of this First Supplemental Indenture. 

“Permitted Liens” has the meaning set forth in Section 1.5(a) hereto. 

“Principal Property” means the land, improvements, buildings and fixtures owned by the Company or any of its wholly-owned
domestic Subsidiaries that constitutes the Company’s (i) principal offices in Santa Clara, California, and (ii) any research and development facility and any service and support facility (in each case including associated office
facilities) located within the territorial limits of the States of the United States of America, except (in the case of (ii)) (a) such as the Board of Directors by resolution determines in good faith (taking into account, among other things, the
importance of such property to the business, financial condition and earnings of the Company and its Subsidiaries taken as a whole) not to be of material importance to the Company’s and its Subsidiaries’ business, taken as a whole or
(b) has a net book value that, on the date of determination as to whether a property is a Principal Property is being made, is less than 0.75% of Consolidated Net Tangible Assets. 

“Rating Agency” means (1) each of Moody’s and S&P; and (2) if either of
Moody’s or S&P ceases to rate the Notes or fails to make a rating of the Notes publicly available for reasons outside of the control of the Company, a Substitute Rating Agency. 

  
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 “Rating Categories” mean (i) with respect
to S&P, any of the following categories: BBB, BB, B, CCC, CC, C and D (or equivalent successor categories); (ii) with respect to Moody’s, any of the following categories: Baa, Ba, B, Caa, Ca, C and D (or equivalent successor categories);
and (iii) the equivalent of any such category of S&P or Moody’s used by another Rating Agency. In determining whether the rating of the Notes has decreased by one or more gradations, gradations within Rating Categories (+ and –
for S&P; 1, 2 and 3 for Moody’s; or the equivalent gradations for another Rating Agency) shall be taken into account (e.g., with respect to S&P, a decline in a rating from BB+ to BB, as well as from BB– to B+, will constitute a
decrease of one gradation). 
 “Ratings Event” means the rating on the Notes is lowered by each
of the rating agencies, and such Notes are rated below Investment Grade by each of the Rating Agencies on any day during the period (the “Trigger Period”) commencing on the earlier of (a) the first public notice of the
occurrence of a Change of Control or (b) the public announcement by the Company of its intention to effect a Change of Control, and ending 60 days following consummation of such Change of Control (which period shall be extended so long as the
rating of the Notes is under publicly announced consideration for a possible rating downgrade by either of the Rating Agencies on such 60th day, such extension to last with respect to each such
Rating Agency until the date on which such Rating Agency considering such possible downgrade either (x) rates the Notes below Investment Grade or (y) publicly announces that it is no longer considering the Notes for possible downgrade,
provided that no such extension will occur if on such 60th day the Notes are rated Investment Grade by at least one of such Rating Agencies in question and are not subject to review for possible
downgrade by such Rating Agency). If either Rating Agency is not providing a rating of the Notes on any day during the Trigger Period for any reason, the rating of such Rating Agency shall be deemed to have ceased to be rated Investment Grade during
the Trigger Period. 
 “Reference Treasury Dealer” means each of Barclays Capital Inc., Citigroup Global Markets Inc. and
J.P. Morgan Securities LLC, and each of its respective successors and any other primary treasury dealers selected by the Company. 

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

“Remaining Scheduled Payments” means, with respect to any Note to be redeemed, the remaining
scheduled payments of the principal thereof and interest thereon that would be due after the related Optional Redemption Date but for such redemption (assuming that such Notes matured on June 1, 2030 (three months prior to Maturity); provided,
however, that, if such Optional Redemption Date is not an Interest Payment Date with respect to such Note, the amount of the next scheduled interest payment thereon will be reduced by the amount of interest accrued thereon to such Optional
Redemption Date. 

  
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 “Restricted Subsidiary” means any domestic Subsidiary that owns any
Principal Property other than (1) any Subsidiary primarily engaged in financing receivables or in the finance business, or (2) any of the Company’s less than 80%-owned Subsidiaries if the common stock of such Subsidiary is traded on
any national securities exchange or on the over-the-counter markets. 

“Sale and Leaseback Transaction” means any arrangement with any Person providing for the leasing by the Company or any
Subsidiary of the Company of any Principal Property which has been or is to be sold or transferred by the Company or such Subsidiary to such Person, excluding (1) leases for a term, including renewals at the option of the lessee, of not more
than three years, and (2) leases between the Company and a Subsidiary or between Subsidiaries of the Company. 

“Subsidiary” means, with respect to any Person (the “Parent”) at any date, any corporation, limited
liability company, partnership, association or other entity the accounts of which would be consolidated with those of the Parent in the Parent’s consolidated financial statements if such financial statements were prepared in accordance with
U.S. GAAP as of that date, as well as any other corporation, limited liability company, partnership, association or other entity of which securities or other ownership interests representing more than 50% of the equity or more than 50% of the
ordinary voting power or, in the case of a partnership, more than 50% of the general partnership interests are, as of that date, owned, controlled or held by the Parent or one or more Subsidiaries of the Parent or by the Parent and one or more
Subsidiaries of the Parent. 
 “Substitute Rating Agency” means a “nationally recognized statistical rating
organization” within the meaning of Section 3(a)(62) of the Exchange Act, selected by the Company (as certified by a resolution of the Board of Directors) as a replacement agency for Moody’s or S&P, or both of them, as the case
may be. 
 “S&P” means Standard & Poor’s Global Ratings, a division of The
McGraw-Hill Companies, Inc. 
 “Treasury Rate” means, with respect to any Optional Redemption
Date, the rate per annum equal to the semi-annual equivalent yield to maturity (computed as of the third Business Day immediately preceding that Optional Redemption Date) of the applicable Comparable Treasury Issue. In determining this rate, the
Company will assume a price for the applicable Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the applicable Comparable Treasury Price for such Optional Redemption Date. 

“Voting Stock” of any specified “person” (as that term is used in Section 13(d)(3)
of the Exchange Act) as of any date means the Capital Stock of such person that is at the time entitled to vote generally in the election of the board of directors of such person. 

Section 1.3 Optional Redemption. 

(a) The provisions of Article 3 of the Base Indenture, as amended by the provisions of this First Supplemental Indenture, shall apply to
the Notes with respect to this Section 1.3. 

  
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 (b) The Notes shall be redeemable in whole at any time or in part from time to time, at the
Company’s option. Upon redemption of the Notes prior to June 1, 2030, the Company shall pay an Optional Redemption Price equal to the greater of: 

(i) 100% of the aggregate principal amount of the Notes to be redeemed, and 

(ii) the sum of the present values of the Remaining Scheduled Payments of the Notes to be redeemed, discounted to the Optional
Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) using a discount rate equal to the Treasury Rate plus 15 basis
points, 
 plus, in addition to such Optional Redemption Price accrued and unpaid interest thereon to, but excluding, the Optional Redemption Date.

 Upon redemption of the Notes on or after June 1, 2030, the Company shall pay an Optional Redemption Price equal to 100% of the
aggregate principal amount of the Notes being redeemed plus accrued and unpaid interest thereon to, but excluding, the Optional Redemption Date. 

Notwithstanding the foregoing, if the Redemption Date is after a regular interest payment record date and on or prior to the next Interest
Payment Date, the accrued interest shall be payable to the Holder of the redeemed Securities registered on the relevant record date, as specified by the Company in the notice to the Trustee pursuant to the Notes and the Indenture. 

(c) On and after the Optional Redemption Date for the Notes, interest shall cease to accrue on the Notes or any portion thereof called for
redemption, unless the Company defaults in the payment of the Optional Redemption Price and accrued interest, if any. On or prior to the Optional Redemption Date (but not later than 11:00 a.m. New York City Time on such date), the Company shall
deposit with the Paying Agent money sufficient to pay the Optional Redemption Price of and accrued interest, if any, on all Notes to be redeemed on that date. If less than all of the Notes are to be redeemed, the Notes shall be redeemed in
accordance with Section 3.3 of the Base Indenture. 
 (d) If less than all of the Notes are to be redeemed or purchased at any time, the
Trustee shall select the Notes or portions thereof to be redeemed or purchased, in the case of Global Securities, by lot based on the applicable procedures of the Depository or, in the case of certificated Notes, on a pro rata basis, by lot or such
other selection as the Trustee deems fair and appropriate. No Notes of less than $2,000 may be redeemed or repurchased in part. Notes in denominations larger than $2,000 may be redeemed or purchased in part, but only in integral multiples of $1,000
in excess thereof, unless all of the Notes held by a holder are to be redeemed or purchased. 
 (e) Notice of any redemption shall be
delivered by the Trustee on behalf of the Company and at the Company’s expense at least 15 days but not more than 60 days before the Optional Redemption Date to each Holder of the Notes to be redeemed; provided, however, that the Company shall
have delivered to the Trustee at least five (5) Business Days prior to the date of the delivery of such notice (unless a shorter period shall be satisfactory to the Trustee) an Officers’ Certificate requesting that the Trustee give such
notice and setting forth the information to be stated in the notice as provided in 

  
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Section 3.3 of the Base Indenture. If the Optional Redemption Price cannot be determined at the time such notice is to be given, the actual Optional Redemption Price, calculated as described
above in clause (b), shall be set forth in an Officers’ Certificate of the Company delivered to the Trustee no later than two (2) Business Days prior to the Optional Redemption Date. Notice of redemption having been given as provided in
the Indenture, the Notes called for redemption shall, on the Optional Redemption Date, become due and payable at the Optional Redemption Price, and accrued and unpaid interest, if any, to, but excluding, the Optional Redemption Date. 

Section 1.4 Change of Control Repurchase Event. 

(a) If a Change of Control Repurchase Event occurs with respect to the Notes, unless the Company shall have exercised its right to redeem the
Notes in full, as set forth in Section 1.3 of this First Supplemental Indenture or the Company shall have defeased the Notes or have satisfied and discharged the Notes, as set forth in Article 9 of the Base Indenture, each Holder of the
Notes shall have the right (a “Change of Control Right”) to require the Company to repurchase all or any part of such Holder’s Notes at a repurchase price in cash equal to 101% of the aggregate principal amount of the Notes to
be repurchased (such principal amount to be equal to $2,000 or an integral multiple of $1,000 in excess of $2,000), plus accrued and unpaid interest, if any, on the Notes to be repurchased up to, but excluding, the date of repurchase (the
“Change of Control Payment”). Within 30 days following any Change of Control Repurchase Event, or at the option of the Company, prior to any Change of Control, but after the public announcement of the Change of Control or event that
may constitute the Change of Control, the Company shall deliver a notice (a “Change of Control Notice”) to each Holder of the Notes, with a copy to the Trustee, describing the transaction or transactions that constitute or may
constitute the Change of Control Repurchase Event and the Company’s obligation to repurchase the Notes 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
delivered (the “Change of Control Payment Date”). The Change of Control Notice shall, if delivered prior to the date of the consummation of the Change of Control, state that the Company’s obligation to repurchase the Notes is
conditioned on a Change of Control Repurchase Event occurring on or prior to the Change of Control Payment Date. Holders of the Notes electing to have a Note repurchased pursuant to this Section 1.4 will be required to surrender the Notes, with
the form entitled “Option of Holder to Elect Purchase” on the reverse of the Note completed, to the Paying Agent at the address specified in the notice, or Holders of Global Securities must transfer their Notes to the Paying Agent by
book-entry transfer pursuant to the applicable procedures as in effect from time to time of the Depository, prior to the close of business on the Business Day prior to the Change of Control Payment Date. 

Notwithstanding the foregoing, installments of interest whose Stated Maturity is on or prior to the Change of Control Payment Date shall be payable on the
applicable Interest Payment Date to the Holders of such Notes registered as such at the close of business on the applicable record date pursuant to the Notes and the Indenture. 

(b) On the Change of Control Payment Date, the Company shall, to the extent lawful: 

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

  
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 (ii) no later than 10:00 a.m., New York City time, deposit with the Paying
Agent an amount equal to the Change of Control Payment in respect of all Notes or portions of Notes properly tendered; and 

(iii) deliver or cause to be delivered to the Trustee the Notes properly accepted, together with an Officers’ Certificate
stating the aggregate principal amount of Notes being repurchased by the Company. 
 (c) The Company will not be obligated to repurchase the
Notes pursuant to this Section 1.4 if a third party agrees to repurchase the Notes in the manner, at the times required and otherwise in compliance with the requirements for the Company under this Indenture, and such third party repurchases all
Notes properly tendered and not withdrawn by the Holders. 
 (d) The Company will comply with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations thereunder to the extent such laws and regulations are applicable in connection with the repurchase of the Notes as a result of a Change of
Control Repurchase Event. To the extent that the provisions of any such securities laws or regulations conflict with this Section 1.4, the Company shall comply with the applicable securities laws and regulations and shall not be deemed to have
breached its obligations under this Section 1.4 by virtue of any such conflict. 
 Section 1.5 Additional Covenants. 

The following additional covenants shall apply with respect to the Notes so long as any of the Notes remain outstanding: 

(a) Limitation on Liens. 
 The
Company will not incur, and will not permit any of its Restricted Subsidiaries to incur, any indebtedness secured by a Lien on any Principal Property of the Company or any of its Restricted Subsidiaries or upon shares of stock or indebtedness of any
Restricted Subsidiary (whether such Principal Property, or shares of stock or indebtedness of any Restricted Subsidiary, are now existing or owned or hereafter created or acquired), in each case, unless prior to or at the same time the Company or
such Restricted Subsidiary also secures all payments due under the Notes having the benefit of this Section 1.5 (together with, if the Company shall so determine, any other indebtedness or guarantees of the Company or any Subsidiary of the
Company ranking equally with the Notes or such guarantee), on an equal and ratable basis with, or at the option of the Company, prior to, such other indebtedness so secured for so long as such other indebtedness shall be so secured. 

The foregoing prohibition shall not apply to any of the following Liens (“Permitted Liens”): 

(1) Liens on property, shares of stock or indebtedness existing with respect to any Person at the time such Person becomes a
Subsidiary of the Company or a Subsidiary of any Subsidiary of the Company, provided that such Lien was not incurred in anticipation of such Person becoming a Subsidiary; 

  
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 (2) Liens on property, shares of stock or indebtedness existing at the time
of acquisition by the Company or any of its Subsidiaries or a Subsidiary of any Subsidiary of the Company of such property, shares of stock or indebtedness or Liens on property, shares of stock or indebtedness to secure the payment of all or any
part of the purchase price of such property, shares of stock or indebtedness, or Liens on property, shares of stock or indebtedness to secure any indebtedness for borrowed money incurred prior to, at the time of, or within 18 months after, the
latest of the acquisition of such property, shares of stock or indebtedness or, in the case of property, the completion of construction, the completion of improvements or the commencement of substantial commercial operation of such property for the
purpose of financing all or any part of the purchase price of the property and related costs and expenses, the construction or the making of the improvements; 

(3) any Lien securing indebtedness of the Company or a Subsidiary of the Company owing to the Company or to any of its
Subsidiaries; 
 (4) Liens existing on the date when the Company first issues Notes pursuant to this Indenture (other than
any Additional Notes); 
 (5) Liens on property or assets of a Person existing at the time such Person is merged into or
consolidated with the Company or any of its Subsidiaries, at the time such Person becomes a Subsidiary of the Company, or at the time of a sale, lease or other disposition of all or substantially all of the properties or assets of a Person to the
Company or any of its Subsidiaries, provided that such Lien was not incurred in anticipation of the merger, consolidation or sale, lease, other disposition or other such transaction; 

(6) Liens created in connection with a project financed with, and created to secure, a
Non-recourse Obligation; 
 (7) Liens created to secure the Notes; 

(8) Liens imposed by law, such as materialmen’s, workmen’s or repairmen’s, carriers’, warehousemen’s
and mechanic’s Liens or other similar Liens, in each case for sums not yet overdue by more than 30 calendar days or being contested in good faith by appropriate proceedings or other Liens arising out of judgments or awards against such Person
with respect to which such Person shall then be proceeding with an appeal or other proceedings for review and Liens arising solely by virtue of any statutory or common law provision relating to banker’s Liens, rights of set-off or similar rights and remedies as to deposit accounts or other funds maintained with a creditor depository institution; 

(9) Liens for taxes, assessments or other governmental charges not yet due or payable or subject to penalties for non-payment or which are being contested in good faith by appropriate proceedings; 

  
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 (10) Liens to secure the performance of bids, trade contracts, leases,
statutory obligations, surety and appeal bonds, performance bonds and other obligations of a like nature; 
 (11) pledges or
deposits under workmen’s compensation, unemployment insurance, or similar legislation and liens of judgments thereunder which are not currently dischargeable, or deposits to secure public or statutory obligations, or deposits in connection with
obtaining or maintaining self-insurance or to obtain the benefits of any law, regulation or arrangement pertaining to workmen’s compensation, unemployment insurance, old age pensions, social security or similar matters, or deposits of cash or
obligations of the U.S. to secure surety, appeal or customs bonds, or deposits in litigation or other proceedings such as, but not limited to, interpleader proceedings; 

(12) Liens consisting of easements,
rights-of-way, zoning restrictions, restrictions on the use of real property, and defects and irregularities in the title thereto, landlords’ Liens and other
similar Liens none of which interfere materially with the use of the property covered thereby in the ordinary course of business and which do not, in the Company’s opinion, materially detract from the value of such properties; 

(13) Liens in favor of the United States of America or any state, territory or possession thereof (or the District of
Columbia), or any department, agency, instrumentality or political subdivision of the United States of America or any state, territory or possession thereof (or the District of Columbia), to secure partial, progress, advance or other payments
pursuant to any contract or statute or to secure any indebtedness incurred for the purpose of financing all or any part of the purchase price or the cost of constructing or improving the property subject to such Liens; or 

(14) any extension, renewal or replacement of any Lien referred to in clauses (1) through (13) above, inclusive, so long
as (i) the principal amount of the indebtedness secured thereby does not exceed the principal amount of indebtedness so secured at the time of the extension, renewal or replacement (except to the extent of any fees or other costs associated
with any such extension, renewal or replacement) and (ii) the Lien is limited to the same property subject to the Lien so extended, renewed or replaced (and improvements on the property). 

Notwithstanding the restrictions set forth in the second paragraph of Section 1.5(a) of this First Supplemental Indenture, the Company
and its Restricted Subsidiaries will be permitted to incur indebtedness secured by Liens which would otherwise be subject to the foregoing restrictions without equally and ratably securing the Notes, provided that, after giving effect to such
indebtedness, the aggregate amount of all indebtedness secured by Liens (not including Liens permitted under clauses (1) through (14) above), together with all Attributable Debt outstanding pursuant to second paragraph of Section 1.5(b) of
this First Supplemental Indenture, does not exceed 15% of the Consolidated Net Tangible Assets of the Company calculated as of the date of the creation or incurrence of the Lien. The Company and its Restricted Subsidiaries also may, without equally
and ratably securing the Notes, create or incur Liens that extend, renew, substitute or replace (including successive extensions, renewals, substitutions or replacements), in whole or in part, any Lien permitted pursuant to the preceding sentence.

  
 12 

 (b) Limitation on Sale and Leaseback Transactions 

The Company will not, and will not permit any of its Restricted Subsidiaries to, enter into any Sale and Leaseback Transaction for the sale and
leasing back of any Principal Property, whether now owned or hereafter acquired, unless: 
 (1) such transaction was entered
into prior to the date of the initial issuance of the Notes (other than any Additional Notes); 
 (2) such transaction was
for the sale and leasing back to the Company or any of its wholly owned Subsidiaries of any Principal Property by one of its Restricted Subsidiaries; 

(3) such transaction involves a lease for not more than three years (or which may be terminated by the Company or its
Subsidiaries within a period of not more than three years); 
 (4) the Company would be entitled to incur indebtedness
secured by a Lien with respect to such Sale and Leaseback Transaction without equally and ratably securing the Notes pursuant to the second paragraph of Section 1.5(a) of this First Supplemental Indenture; or 

(5) The Company or any Restricted Subsidiary applies an amount equal to the net proceeds from the sale of such Principal
Property to the purchase of other property or assets used or useful in its business (including the purchase or development of other Principal Property) or to the retirement of indebtedness that is pari passu with the Notes (including the Notes)
within 365 days before or after the effective date of any such Sale and Leaseback Transaction, provided that, in lieu of applying such amount to the retirement of pari passu indebtedness, the Company may deliver Notes to the trustee for
cancellation, such Notes to be credited at the cost thereof to it. 
 Notwithstanding the restrictions set forth in Section 1.5(b) of
this First Supplemental Indenture, the Company and its Restricted Subsidiaries may enter into any Sale and Leaseback Transaction which would otherwise be subject to the restrictions in the first paragraph of Section 1.5(b) of this First
Supplemental Indenture, if after giving effect thereto the aggregate amount of all Attributable Debt with respect to such transactions, together with all indebtedness outstanding pursuant to the third paragraph of Section 1.5(a) of this First
Supplemental Indenture, does not exceed 15% of the Consolidated Net Tangible Assets of the Company calculated as of the closing date of the Sale and Leaseback Transaction. 

Section 1.6 Events of Default. 
 This
Section 1.6 shall replace Section 6.1 of the Base Indenture with respect to the Notes only. 
 With respect to the Notes,
“Event of Default” means any one or more of the following events that has occurred and is continuing: 

  
 13 

 (a) default in the payment of any interest on any Note when it becomes due and payable, and
the continuance of such default for a period of 30 days or more (unless the entire amount of such payment is deposited by the Company with the Trustee or a Paying Agent prior to the expiration of such 30 day period); 

(b) default in the payment of the principal of or any premium, if any, on any Note when due at its Stated Maturity, upon optional redemption
pursuant to Section 1.3 of this First Supplemental Indenture or otherwise; 
 (c) failure by the Company to repurchase the Notes
tendered for repurchase following a Change of Control Repurchase Event in accordance with Section 1.4 of this First Supplemental Indenture; 

(d) defaults in the observance or performance of any covenant by the Company in the Indenture (other than those referred to in (a), (b) or
(c) above), which default continues uncured for a period of 60 days after the Company receives written notice from the Trustee or the Company and the Trustee receive written notice from the Holders of not less than 25% in aggregate principal
amount of the Notes outstanding; 
 (e) the Company or any Significant Subsidiary pursuant to or within the meaning of any Bankruptcy Law:

 (1) commences a voluntary case, 

(2) consents to the entry of an order for relief against it in an involuntary case;, 

(3) consents to the appointment of a Custodian of it or for all or substantially all of its property;, 

(4) makes a general assignment for the benefit of its creditors, or 

(5) generally is not paying its debts as they become due; 

(f) the entry by a court having competent jurisdiction of an order or decree under any Bankruptcy Law that: 

(1) is for relief against the Company or any Significant Subsidiary in an involuntary case, 

(2) appoints a Custodian of the Company or any Significant Subsidiary, or for all or substantially all of the property of the
Company or any Significant Subsidiary, or 
 (3) orders the liquidation of the Company or any Significant Subsidiary, and the
order or decree remains unstayed and in effect for 90 consecutive days; 

  
 14 

 (g) (1) the failure by the Company to make any payment at Maturity, including any
applicable grace period, on any indebtedness of the Company (other than indebtedness of the Company owing to any of its Subsidiaries) outstanding in an amount in excess of $50,000,000 and continuance of this failure to pay or (2) a default on
any indebtedness of the Company (other than indebtedness owing to any of its Subsidiaries), which default results in the acceleration of such indebtedness in an amount in excess of $50,000,000 without such indebtedness having been discharged or the
acceleration having been cured, waived, rescinded or annulled, in the case of clause (1) or (2) above, for a period of 30 days after written notice thereof to the Company by the Trustee or to the Company and the Trustee by the Holders of not
less than 25% in principal amount of outstanding Notes (including any Additional Notes); provided, however, that if any failure, default or acceleration referred to in clause (1) or (2) above ceases or is cured, waived, rescinded or annulled,
then the Event of Default will be deemed cured. 
 Section 1.7 Remedies If an Event of Default Occurs. 

This Section 1.7 shall amend Section 6.2 of the Base Indenture with respect to the Notes only. 

If an Event of Default with respect to the Notes at the time outstanding (other than an Event of Default arising under Section 1.6(e) or
(f)) occurs and is continuing, the Trustee or the Holders of not less than 25% in aggregate principal amount of the Notes then outstanding may declare that the entire principal amount of all the Notes then outstanding is immediately due and payable,
in which case such amounts shall become immediately due and payable; provided, however, that after such acceleration but before a judgment or decree based on such acceleration is obtained by the Trustee, the Holders of a majority in aggregate
principal amount of the outstanding Notes by written notice to the Company and the Trustee may rescind and annul such acceleration and its consequences if (i) the Company has paid or caused to be paid or deposited with the Trustee an amount
sufficient to pay all matured installments of interest upon the Notes and the principal of and premium, if any, on the Notes that has become due otherwise than by acceleration (with interest upon such principal and premium, if any, and, to the
extent the payment of such interest is enforceable under applicable law, upon overdue installments of interest, at the rate expressed in the Notes to the date of such payment or deposit), and (ii) any and all existing Events of Default, other
than the nonpayment of accelerated principal on the Notes that has become due solely because of the acceleration, have been cured or waived. No such rescission shall affect any subsequent default or impair any right consequent thereto. In case an
Event of Default specified in Section 1.6(e) or (f) with respect to the Company occurs, such principal amount with respect to the Notes shall be due and payable immediately without any declaration or other act on the part of the Trustee or
any Holder of the Notes. 
 Section 1.8 Modifications. 

This Section 1.8 shall amend Sections 8.1 and 8.2(a) of the Base Indenture with respect to the Notes only. 

(a) The Company, when authorized by a Board Resolution, and the Trustee may amend or supplement this Indenture or the Notes without notice to
or consent of any Holder: 

  
 15 

 (1) to cure any ambiguity, defect or inconsistency herein or in the Notes;

 (2) to make such other provisions in regard to matters or questions arising under the Indenture or under any supplemental
indenture as our Board of Directors may deem necessary or desirable, and which does not in each case adversely affect the interests of the Holders of the Notes; 

(3) to comply with covenants in the Indenture regarding mergers and sales of assets; 

(4) to provide for uncertificated Notes in addition to or in place of certificated Notes; 

(5) to add to the covenants of the Company or add any additional Events of Default for the benefit of the Notes, or secure the
Notes; 
 (6) to provide for the issuance of, and establish the form and terms and conditions of, the Notes as permitted by
this Indenture 
 (7) to evidence and provide for the acceptance of appointment hereunder by a successor Trustee with respect
to the Securities of one or more Series, and to add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee; and 

(8) to comply with requirements of the SEC in order to effect or maintain the qualification of this Indenture under the TIA.

 (b) In addition, with the consent of the Holders of not less than a majority in aggregate principal amount of the Notes at the time
outstanding affected by such amendment or supplement, the Company and the Trustee from time to time and at any time may amend or supplement this Indenture for the purpose of adding any provisions to or changing in any manner or eliminating any of
the provisions of this Indenture or of any supplemental indenture or of modifying in any manner the rights of the Holders of the Notes under this Indenture; provided, however, that no such amendment or supplement, without the consent of the Holder
of each Note affected thereby, shall: 
 (1) change the Stated Maturity of the principal of, or any installment of principal
of or interest on, any Notes; 
 (2) reduce the principal amount of or the rate of interest thereon or any premium payable
upon the redemption of any Notes; 
 (3) reduce the amount of the principal of any Note which would be due and payable at
Maturity or upon a declaration of acceleration, a redemption or a change of control or following an Event of Default; 

  
 16 

 (4) change the place or currency of payment for the Notes; 

(5) waive a redemption payment with respect to any Note, or change any of the provisions with respect to the redemption of any
Notes; 
 (6) impair the Holder’s right to sue for the enforcement of any payment on or with respect to the Notes; 

(7) reduce the percentage in principal amount of the outstanding Notes, the consent of whose Holders is required to amend or
supplement this Indenture or the Notes; 
 (8) reduce the percentage in principal amount of the outstanding Notes, the
consent of whose Holders is required for any waiver of compliance with certain provisions of this Indenture or certain defaults hereunder and their consequences provided for in this Indenture; or 

(9) modify any of the provisions of this Section 1.8 or other provision of the Indenture dealing with modifications and
waiver of the Indenture, except to increase any such percentage required for any modification or to provide that certain other provisions of this Indenture cannot be modified or waived without the consent of the Holder of each outstanding Note
affected thereby. 
 ARTICLE II 

MISCELLANEOUS 
 Section 2.1
Definitions. 
 Capitalized terms used but not defined in this First Supplemental Indenture shall have the meanings ascribed thereto
in the Base Indenture. 
 Section 2.2 Amendment to Section 9.4. 

For purposes of this First Supplemental Indenture, references in Sections 9.4(6) and 9.4(7) of the Base Indenture to
“Holders” of outstanding Securities shall be deemed to refer to beneficial owners of such outstanding Securities. 
 Section 2.3
Confirmation of Indenture. 
 The Base Indenture, as supplemented and amended by this First Supplemental Indenture, is in all respects
ratified and confirmed, and the Base Indenture, this First Supplemental Indenture and all indentures supplemental thereto shall be read, taken and construed as one and the same instrument. 

  
 17 

 Section 2.4 Concerning the Trustee. 

In carrying out the Trustee’s responsibilities hereunder, the Trustee shall have all of the rights, protections and immunities which it
possesses under the Indenture. The recitals contained herein and in the Notes, except the Trustee’s certificate of authentication, shall be taken as the statements of the Company, and the Trustee assumes no responsibility for their correctness.
The Trustee makes no representations as to the validity or sufficiency of this First Supplemental Indenture or of the Notes. The Trustee shall not be accountable for the use or application by the Company of the Notes or the proceeds thereof. 

Section 2.5 Governing Law. 
 This
First Supplemental Indenture and the Notes shall be deemed to be a contract made under the internal laws of the State of New York, and for all purposes shall be construed in accordance with the laws of said State. 

Section 2.6 Separability. 
 In case
any provision in this First Supplemental Indenture or in the Notes shall for any reason be held to be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or
impaired thereby. 
 Section 2.7 Counterparts. 

This First Supplemental Indenture may be executed in any number of counterparts each of which shall be an original, but such counterparts shall
together constitute but one and the same instrument. The exchange of copies of this Indenture and of signature pages by facsimile or PDF transmission shall constitute effective execution and delivery of this Indenture as to the parties hereto and
may be used in lieu of the original Indenture for all purposes. Signatures of the parties hereto transmitted by facsimile or PDF shall be deemed to be their original signatures for all purposes. 

Section 2.8 Conflicts with Base Indenture.

In the event that any provision of this First Supplemental Indenture limits, qualifies or conflicts with a provision of the Base Indenture,
such provision of the First Supplemental Indenture will control. 
 Section 2.9 No Benefit. 

Nothing in this First Supplemental Indenture, express or implied, shall give to any Person other than the parties hereto and their successors
or assigns, and the Holders of the Notes, any benefit or legal or equitable rights, remedy or claim under this First Supplemental Indenture or the Base Indenture. 

  
 18 

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

					
	SERVICENOW, INC.
		
	By:	 	 /s/ Gina Mastantuono

		 	Name:	 	Gina Mastantuono
		 	Title:	 	Chief Financial Officer

 [Signature Page to the First Supplemental Indenture] 

 
					
	 WELLS FARGO BANK, NATIONAL ASSOCIATION

as Trustee

		
	By:	 	 /s/ Maddy Hughes

		 	Name:	 	Maddy Hughes
		 	Title:	 	Vice President

 [Signature Page to the First Supplemental Indenture] 

 EXHIBIT A 

FORM OF 1.400% NOTES DUE 2030 

[Insert the Global Security legend, if applicable] 

SERVICENOW, INC. 

1.400% NOTES DUE 2030 
  

			
	 No. [    ]
	  	$[    ]

 CUSIP No. [    ] 

ServiceNow, Inc., a Delaware corporation (the “Company”), promises to pay to [ ] or registered assigns, the principal sum of [ ]
Dollars on September 1, 2030. 
 Interest Payment Dates: March 1 and September 1 

Record Dates: February 15 and August 15 

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

  
 A-1 

 IN WITNESS WHEREOF, the Company has caused this instrument to be signed in accordance with
Section 2.3 of the Base Indenture. 
  

	
	SERVICENOW, INC.
	
	  

	Name:
	Title:
	
	  

	Name:
	Title:

  
 A-2 

 CERTIFICATE OF AUTHENTICATION 

This is one of the 1.400% Notes due 2030 issued by ServiceNow, Inc. of the series designated therein referred to in the within-mentioned
Indenture. 
 Date: [    ] 
  

			
	 WELLS FARGO BANK, NATIONAL ASSOCIATION

as Trustee

		
	By:	 	  

		 	Authorized Signatory

  
 A-3 

 (Reverse of Note) 

SERVICENOW, INC. 

1.400% Notes due 2030 
 This security is
one of a duly authorized series of debt securities of ServiceNow, Inc., a Delaware corporation (the “Company”), issued or to be issued in one or more series under and pursuant to an Indenture for the Company’s senior debt securities,
dated as of August 11, 2020 (the “Base Indenture”), duly executed and delivered by and among the Company and Wells Fargo Bank, National Association (the “Trustee”), as supplemented by the First Supplemental Indenture, dated
as of August 11, 2020 (the “First Supplemental Indenture”), by and between the Company and the Trustee. The Base Indenture as supplemented and amended by the First Supplemental Indenture is referred to herein as the
“Indenture.” By the terms of the Base Indenture, the debt securities issuable thereunder are issuable in series that may vary as to amount, date of maturity, rate of interest and in other respects as provided in the Base Indenture. This
security is one of the series designated on the face hereof (individually, a “Security,” and collectively, the “Securities”), and reference is hereby made to the Indenture for a description of the rights, limitations of rights,
obligations, duties and immunities of the Trustee, the Company and the holders of the Securities (the “Securityholders”). Capitalized terms used herein and not otherwise defined shall have the meanings given them in the Base Indenture or
the First Supplemental Indenture, as applicable. 
 1. Interest. The Company promises to pay interest on the principal amount of this
Security at an annual rate of 1.400%. The Company will pay interest semi-annually on March 1 and September 1 of each year (each such day, an “Interest Payment Date”). If any Interest Payment Date, redemption date or maturity date
of this Security is not a Business Day, then payment of interest or principal (and premium, if any) shall be made on the next succeeding Business Day with the same force and effect as if made on the date such payment was due, and no interest shall
accrue for the period after such date to the date of such payment on the next succeeding Business Day. Interest on the Securities will accrue from the most recent date to which interest has been paid or duly provided for or, if no interest has been
paid, from the date of issuance; provided that, if there is no existing Default in the payment of interest, and if this Security is authenticated between a regular record date referred to on the face hereof and the next succeeding Interest Payment
Date, interest shall accrue from such next succeeding Interest Payment Date; and provided, further, that the first Interest Payment Date shall be March 1, 2021. Interest will be calculated on the basis of a
360-day year of twelve 30-day months. All dollar amounts resulting from this calculation shall be rounded to the nearest cent. 

2. Method of Payment. The Company will pay interest on the Securities (except defaulted interest), if any, to the Persons in whose name
such Securities are registered at the close of business on the regular record date referred to on the facing page of this Security for such interest installment. In the event that the Securities or a portion thereof are called for redemption or
there is a Change of Control Notice, and the Optional Redemption Date or the Change of Control Payment Date, as applicable, is subsequent to a regular record date with respect to any Interest Payment Date and prior to such Interest Payment Date,
interest on such Securities will instead be paid upon presentation and surrender of such Securities as provided in the Indenture. 

  
 A-4 

 
The principal of and the interest on the Securities shall be payable in the coin or currency of the United States of America that at the time is legal tender for public and private debt, at the
office or agency of the Company maintained for that purpose in accordance with the Indenture. If any of the Notes are no longer represented by a Global Security, payment of interest on certificated notes in definitive form may, at the option of
Company, be made by (i) check mailed to the address of the Person entitled thereto as such address shall appear in the register for the Securities maintained by the Registrar, or (ii) upon request of any Holder of at least $2,000,000
principal amount of Securities, wire transfer to an account located in the United States maintained by the payee. 
 3. Paying Agent and
Registrar. Initially, Wells Fargo Bank, National Association, the Trustee, will act as Paying Agent and Registrar. The Company may change or appoint any Paying Agent or Registrar without notice to any Securityholder. The Company or any of its
Subsidiaries may act in any such capacity. 
 4. Indenture. The terms of the Securities include those stated in the Indenture and
those made part of the Indenture by reference to the Trust Indenture Act of 1939 (“TIA”) as in effect on the date the Indenture is qualified. The Securities are subject to all such terms, and Securityholders are referred to the Indenture
and TIA for a statement of such terms. The Securities are unsecured general obligations of the Company and constitute the series designated on the face hereof as the “1.400% Notes due 2030”, initially limited to $1,500,000,000 in aggregate
principal amount. The Company will furnish to any Securityholder upon written request and without charge a copy of the Base Indenture and the First Supplemental Indenture. Requests may be made to: ServiceNow, Inc., 2225 Lawson Lane Santa Clara,
California 95054, Attention: General Counsel. 
 5. Redemption. The Securities may be redeemed at the option of the Company prior to
the Stated Maturity, as provided in Section 1.3 of the First Supplemental Indenture. 
 The Company shall not be required to make sinking fund payments
with respect to the Securities. 
 6. Change of Control Repurchase Event. Upon the occurrence of a Change of Control Repurchase Event,
unless the Company has exercised its right to redeem this Security or the Company has defeased this Security or satisfied and discharged this Security, the holder of this Security will have the right to require that the Company purchase all or a
portion, (such principal amount to be equal to $2,000 or any integral multiple of $1,000 in excess of $2,000), of this Security at a purchase price equal to 101% of the principal amount repurchased plus accrued and unpaid interest, if any, on the
amount to be repurchased to, but excluding, the date of purchase. Within 30 days following any Change of Control Repurchase Event, the Company shall deliver a notice to each Holder, in accordance with Section 1.4 of the First Supplemental
Indenture, with a copy to the Trustee, which notice shall govern the terms of the Change of Control Right. 
 7. Denominations, Transfer,
Exchange. The Securities are in registered form without coupons in the denominations of $2,000 or any integral multiple of $1,000 in excess thereof. The transfer of Securities may be registered and Securities may be exchanged as provided in the
Indenture. Every Security presented or surrendered for registration of transfer or for exchange shall (if so required by the Company or the Registrar or a co-registrar) be duly endorsed, or be accompanied by a
written instrument of transfer in form satisfactory to the Company. No service charge will be made for any 

  
 A-5 

 
registration of transfer or exchange, but a Securityholder may be required to pay any applicable taxes or other governmental charges. If the Securities are to be redeemed, the Company will not be
required to: (i) register transfers of any Securities, or to exchange Securities of any Series, for a period of 15 days before the record date for selection for redemption of such Securities; nor (ii) exchange or register transfers of any
Securities called or being called for redemption in whole or in part, except the unredeemed portion of such Security being redeemed in part. 

8. Persons Deemed Owners. The registered Securityholder may be treated as its owner for all purposes. 

9. Repayment to the Company. Subject to all applicable escheatment laws, any funds or U.S. Government Obligations or Foreign Government
Obligations deposited with any Paying Agent or the Trustee, or then held by the Company, in trust for payment of principal of, premium, if any, or interest on the Securities of a particular series that are not applied but remain unclaimed by the
Holders of such Securities for at least two years after the date upon which the principal of, premium, if any, or interest on such Securities shall have respectively become due and payable, shall, upon request of the Company, be repaid to the
Company, or (if then held by the Company) shall be discharged from such trust, and all liability of the Trustee shall thereupon cease. After return to the Company, Holders entitled to the money or securities must look to the Company, as applicable,
for payment as unsecured general creditors. 
 10. Amendments, Supplements and Waivers. The Indenture permits, with certain exceptions
as therein provided, the amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company and the Trustee
with the consent of the Holders of a majority in principal amount of the Securities at the time outstanding of each series to be affected. The Indenture also contains provisions permitting the Holders of a majority in principal amount of the
Securities of each series at the time outstanding, on behalf of the Holders of all Securities of each series, to waive compliance by the Company with certain provisions of the Indenture or the Securities of such series. Any such consent or waiver by
the Holder of this Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not
notation of such consent or waiver is made upon this Security. 
 11. Defaults and Remedies. If an Event of Default with respect to
the Securities of a series issued pursuant to the First Supplemental Indenture occurs and is continuing (other than certain events of bankruptcy, insolvency or reorganization of the Company), the Trustee or the Holders of at least 25% in aggregate
principal amount of the Securities of such series then outstanding, by notice in writing to the Company (and to the Trustee if notice is given by such Holders), may declare the unpaid principal of, premium, if any, and accrued interest, if any, due
and payable immediately. In the case of certain events of bankruptcy, insolvency or reorganization of the Company, the principal and accrued and unpaid interest, if any, on all outstanding Securities will become and be immediately due and payable.
Subject to the terms of the Indenture, if an Event of Default under the Indenture shall occur and be continuing, the Trustee will be under no obligation to exercise any of its rights or powers under the Indenture at the request or direction of any

  
 A-6 

 
of the Holders, unless such Holders have offered the Trustee indemnity satisfactory to it. Upon satisfaction of certain conditions set forth in the Indenture, the Holders of a majority in
principal amount of the outstanding Securities of a series issued pursuant to the First Supplemental Indenture will have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee, or
exercising any trust or power conferred on the Trustee, with respect to the Securities of such series. 
 12. Trustee, Registrar and
Agents May Hold Securities. Subject to certain limitations imposed by the TIA, the Trustee in its individual or any other capacity may become the owner or pledgee of Securities, and may make loans to, accept deposits from, perform services for
or otherwise deal with the Company, or any Affiliate thereof, with the same rights it would have if it were not Trustee. Any Agent may do the same with like rights. 

13. No Recourse Against Others. A director, officer, employee, stockholder or incorporator, as such, of the Company shall not have any
liability for any obligations of the Company under the Securities or the Indenture. Each Securityholder by accepting a Security waives and releases all such liability. Such waiver and release are part of the consideration for the issuance of the
Securities. 
 14. Discharge of Indenture. The Indenture contains certain provisions pertaining to discharge and defeasance, which
provisions shall for all purposes have the same effect as if set forth herein. 
 15. Authentication. This Security shall not be valid
until the Trustee manually signs the certificate of authentication attached to the other side of this Security. 
 16. Abbreviations.
Customary abbreviations may be used in the name of a Securityholder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST
(= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act). 
 17. Governing Law. The Base Indenture, the First Supplemental Indenture
and this Security shall be deemed to be a contract made under the internal laws of the State of New York, and for all purposes shall be construed in accordance with the laws of said State. 

  
 A-7 

 ASSIGNMENT FORM 

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

 

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

	  

	
	  

	
	  

	
	  

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

 and irrevocably appoint [___________] as agent to transfer this Security on the books of the Company. The agent may substitute
another to act for him. 
 Date: _________________________ 
  

	
	 Your Signature:
  

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

  

					
	Signature Guarantee:	  	  
	  	
		  	(Signature must be guaranteed by a participant in a recognized signature guarantee medallion program)	  	

  
 A-8 

 OPTION OF HOLDER TO ELECT PURCHASE 

If you want to elect to have this Security purchased by the Company pursuant to Section 1.4 of the First Supplemental Indenture, check
the box: 
 ☐ 1.4 Change of Control Repurchase Event 

If you want to elect to have only part of this Note purchased by the Company pursuant to Section 1.4 of the First Supplemental Indenture,
state the amount: 
 $________________________________________________________________________________________________________ 

 

			
	Date: __________________________________	  	Your Signature:
		  	(Sign exactly as your name appears on the other side of the Security)
		
		  	Tax I.D. number

  

					
	Signature Guarantee:	  		  	
		  	(Signature must be guaranteed by a participant in a recognized signature guarantee medallion program)	  	

  
 A-9ex_198797.htm

Exhibit 10.1

 

 

NOTICE OF DEFERRED STOCK UNIT GRANT UNDER THE 

DIAMEDICA THERAPEUTICS INC. 2019 OMNIBUS INCENTIVE PLAN

 

Pursuant to the DiaMedica Therapeutics Inc. 2019 Omnibus Incentive Plan (as may be amended from time to time, the “Plan”), DiaMedica Therapeutics Inc., a corporation organized under the laws of British Columbia (including any successor thereto as provided in Section 22.5 of the Plan, the “Company”), hereby grants to the individual named below (the “Participant”) the number of Deferred Stock Units (as defined in the Plan) set forth below (the “Deferred Stock Units”). The Deferred Stock Units are subject to all of the terms and conditions set forth in this Notice of Deferred Stock Unit Grant (this “Grant Notice”), the Deferred Stock Unit Award Agreement attached hereto (the “Award Agreement”), and the Plan, all of which are incorporated herein in their entirety. Capitalized terms not otherwise defined herein will have the meaning set forth in the Plan. This Deferred Stock Units grant has been made as of the grant date indicated below, which shall be referred to as the “Grant Date.”

 

	
			Grant ID:

				
			[Insert Grant ID number]

			
	 	 
	
			Participant:

				
			[Insert Participant Name]

			
	 	 
	
			Grant Date:

				
			[Insert Grant Date]

			
	 	 
	
			Total Number of Deferred Stock Units:

				
			[Insert Number of Underlying Shares], subject to adjustment as provided in the Plan.

			
	 	 
	
			Vesting Schedule:

				
			Except as otherwise provided in Section 3 of the Award Agreement, the Deferred Stock Units will vest commencing after ____________ (the “Vesting Start Date”), on a cumulative basis, in four (4) installments as follows:

			

 

	 	
			Number of Underlying Shares

				
			Scheduled Vesting Date

			
	 	 	
			March 31, 20__

			
	 	 	
			June 30, 20__

			
	 	 	
			September 30, 20__

			
	 	 	
			December 31, 20__

			

 

 

	 	(each such installment vesting date, a “Scheduled Vesting Date”); provided, however, that the Participant remains as a non-employee director of the Company and has not experienced a “Separation from Service” as defined in the Award Agreement, through the applicable Scheduled Vesting Date.
	 	 
	
			Settlement Date:

				
			Except as otherwise provided in Section 4 of the Award Agreement, the vested Deferred Stock Units will be settled and the Shares underlying the vested Deferred Stock Units shall be issued following the earlier of (i) the Participant’s “Separation from Service” as defined in the Award Agreement, or (ii) the Participant’s death.

			

 

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The Participant must accept this Deferred Stock Unit grant by executing this Grant Notice in the space provided below and returning such original execution copy to the Company or otherwise indicating affirmative acceptance of the Deferred Stock Unit grant electronically pursuant to procedures established by the Company and/or its third party administrator prior to the Vesting Start Date. Execution or affirmative acceptance of this Grant Notice by electronic means represents an agreement and acceptance to execute or accept this Grant Notice by electronic means in accordance with the United States ESIGN Act (15 U.S.C. Chapt. 96, et al.) or other Applicable Law. The undersigned Participant acknowledges that he or she has received a copy of this Grant Notice, the Award Agreement, the Plan and the Plan Prospectus. As an express condition to the grant of the Deferred Stock Units hereunder, the Participant agrees to be bound by the terms of this Grant Notice, the Award Agreement and the Plan. The Participant has read carefully and in its entirety the Award Agreement and specifically the acknowledgements in Section 7.9 thereof. This Grant Notice, the Award Agreement and the Plan set forth the entire agreement and understanding of the Company and the Participant with respect to the grant, vesting and administration of this Deferred Stock Units award and supersede all prior agreements, arrangements, plans and understandings. This Grant Notice (which includes the attached Award Agreement) may be executed in two counterparts each of which will be deemed an original and both of which together will constitute one and the same instrument.

 

	DIAMEDICA THERAPEUTICS INC. 	 	Participant	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	
			By: [Name of Officer]

				 	
			[Name of Participant]

				 
	
			Title: [Title of Officer]

				 	 	 

 

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DEFERRED STOCK UNIT AWARD AGREEMENT

 

Pursuant to the Notice of Deferred Stock Unit Grant (the “Grant Notice”) to which this Deferred Stock Unit Award Agreement (this “Agreement”) is attached and which Grant Notice is included in and part of this Agreement, and subject to the terms of this Agreement and the DiaMedica Therapeutics Inc. 2019 Omnibus Incentive Plan (as may be amended from time to time, the “Plan”), DiaMedica Therapeutics Inc., a corporation organized under the laws of British Columbia (including any successor thereto as provided in Section 22.5 of the Plan, the “Company”), and the Participant named in the Grant Notice (the “Participant”) agree as follows:

 

1.     Incorporation of Plan; Definitions. The provisions of the Plan are hereby incorporated herein by reference. Except as otherwise expressly set forth herein, this Agreement will be construed in accordance with the provisions of the Plan and any capitalized terms not otherwise defined in this Agreement or in the Grant Notice will have the same meanings as set forth in the Plan. The provisions of this Agreement will be interpreted as to be consistent with the Plan and any ambiguities in this Agreement will be interpreted by reference to the Plan. In the event that any provision of this Agreement is not authorized by or is inconsistent with the terms of the Plan, the terms of the Plan will prevail. Pursuant to and in accordance with the terms of the Plan, the Committee will have final authority to interpret and construe the Plan and this Agreement and to make any and all determinations thereunder, and its decision will be final, binding and conclusive upon the Participant and his or her legal representatives in respect of any questions arising under the Plan or this Agreement. A copy of the Plan and the Plan Prospectus have been delivered to the Participant together with this Agreement.

 

2.     Grant of Deferred Stock Units. The Company hereby grants to the Participant that number of Deferred Stock Units as set forth in the Grant Notice, subject to adjustment as provided in the Plan, and each of which, if vested pursuant to this Agreement, will be settled on the Settlement Date in one (1) voting common share, no par value, of the Company (each, a “Share” and collectively, the “Shares”), subject to the terms, conditions and restrictions set forth herein and in the Plan. Reference in this Agreement to the Deferred Stock Units will be deemed to include the Dividend Equivalents with respect to such Deferred Stock Units as set forth in Section 4.2 of this Agreement.

 

3.     Vesting; Forfeiture.

 

3.1     Service-Based Vesting Condition. Except as otherwise provided in this Section 3 or this Agreement or the Plan, the Deferred Stock Units will vest in the amounts and on the date(s) as indicated in the Vesting Schedule set forth in the Grant Notice (each a “Scheduled Vesting Date”) and as set forth in this Agreement and in the Plan (collectively with the Scheduled Vesting Dates, each a “Vesting Date”); provided, however, that the Participant remains as a non-employee director of the Company, through the applicable Vesting Date.

 

3.2     Effect of Termination of Service as a Non-Employee Director. Except as otherwise provided in Section 13.4, 13.5 or 15 of the Plan or in an Individual Agreement between the Company, or one of its Subsidiaries or its Affiliates, and the Participant, in the event the Participant’s service as a non-employee director of the Company terminates for any reason, immediately upon termination of service the Participant shall forfeit his or her rights to receive the Shares subject to the Deferred Stock Units that have not vested as of the date the Participant’s service with the Company so terminates; provided, however, that upon the Participant’s death, the interest of the Participant in the Deferred Stock Units shall vest immediately and in full; and provided, further, that the interest of the Participant in the Deferred Stock Units shall vest immediately as to a pro rata percentage of the non-vested Deferred Stock Units scheduled to vest on the next Scheduled Vesting Date, with such proration based on the number of days during which the Participant provided services as a director of the Company beginning on the Vesting Start Date, or if a Scheduled Vesting Date has occurred, the most recent Scheduled Vesting Date, and ending on the next applicable Scheduled Vesting Date, multiplied by the number of Shares subject to the Deferred Stock Units which were scheduled to vest on the next applicable Scheduled Vesting Date.

 

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3.3     Effect of Change in Retainer Fees. If Participant experiences a change in the Participant's annual cash retainers such that the Participant becomes entitled to receive annual cash retainers for the period after the effective date of such change that was used to calculate the number of Deferred Stock Units subject to this Award Agreement pursuant to the Company's Non-Employee Director Compensation Program aggregating to an amount less than the corresponding amount used to calculate the number of Deferred Stock Units subject to this Award Agreement, then the Participant shall forfeit as of the effective dates of such change his or her rights to receive that portion of the Deferred Stock Units underlying the Award Agreement reflecting the decrease in the Participant's aggregate annual cash retainers and the date on which such decrease occurred; provided, however, that in the event the Participant elected to receive only a portion (as opposed to all) of his or her cash retainers in the form of Deferred Stock Units, then prior to any such forfeiture, the amount of cash retainers to be received will be reduced first. In addition, the number of Deferred Stock Units vesting in Section 3.1 on Scheduled Vesting Dates following the effective date of the decrease in the Participant’s annual cash retainers shall be revised appropriately to reflect any such change in the number of Deferred Stock Units underlying this Award Agreement pursuant to this Section 3.3 and the date on which such change occurred. If Participant experiences a change in the Participant's annual cash retainers such that the Participant becomes entitled to receive annual cash retainers for the period used to calculate the number of Deferred Stock Units subject to this Award Agreement aggregating to an amount more than the aggregate amount used to calculate the number of Deferred Stock Units subject to this Award Agreement, then the Participant shall receive such additional annual cash retainers in cash.

 

3.4     Effect of Actions Constituting Cause or Adverse Action; Forfeiture or Clawback. The Deferred Stock Units are subject to the forfeiture provisions set forth in Section 13.5 of the Plan, including those applicable if the Participant is determined by the Committee to have taken any action that would constitute Cause or an Adverse Action and any forfeiture or clawback requirement under Applicable Law or any policy adopted from time to time by the Company.

 

3.5     Effect of Change in Control. Except as otherwise provided in an Individual Agreement between the Company, or one of its Subsidiaries or Affiliates, and the Participant, upon a Change in Control the Deferred Stock Units will be subject to Section 15 of the Plan.

 

4.     Settlement; Issuance of Common Stock.

 

4.1     Timing and Manner of Settlement. Vested Deferred Stock Units will be converted to Shares which the Company will issue and deliver to the Participant or the Participant’s estate , if applicable (either by delivering one or more certificates for such Shares or by entering such Shares in book entry form in the name of the Participant or depositing such Shares for the Participant’s benefit with any broker with which the Participant has an account relationship or the Company has engaged to provide such services under the Plan, as determined by the Company in its sole discretion), following the earlier of the following events: (i) the Participant’s Separation from Service (as hereinafter defined) or (ii) the Participant’s death, (each a “Payment Trigger”), subject to the following:

 

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(a)     For Participants subject to United States federal income tax, Shares will be issued within sixty (60) days following the Payment Trigger, and, for purposes of this Agreement, a “Separation from Service” shall occur upon the effective date of the Participant’s termination of service on the Board (other than on account of death) provided such termination constitutes a “separation from service” as defined in Treas. Reg. §1.409A-1(h); and provided further that if the Participant is a “specified employee” of the Company, as defined in Treas. Reg. §1.409A-1(i), at the Participant’s Separation from Service, and settlement is on account of the Participant’s Separation from Service, the settlement shall be delayed until the earlier of the first day of the seventh month following the Participant’s Separation from Service and the Participant’s death. Payment of amounts under this Agreement (by issuance of Shares or otherwise) is intended to comply with the requirements of Section 409A of the Code and this Agreement shall in all respects be administered and construed to give effect to such intent. The Committee in its sole discretion may accelerate or delay the settlement of any payment under this Agreement if and only to the extent allowed under Section 409A of the Code.

 

(b)     For Participants resident in Canada for income tax purposes and not subject to paragraph (a), above, Shares or, in the sole discretion of the Company, cash, less any applicable tax withholdings required by law and pursuant to Section 6 of this Agreement, shall be made to the Participant no later than December 31 of the year following the calendar year that includes the Payment Trigger; and for the purposes of this Agreement, a “Separation from Service” shall mean the date the Participant retires or otherwise has a loss of employment with the Company.

 

4.2     Dividends Equivalents. The Deferred Stock Units are being granted with an equal number of Dividend Equivalents. Such Dividend Equivalents entitle the Participant to be credited with any amount equal to all cash dividends paid on one Share for each Deferred Stock Unit while the corresponding Deferred Stock Unit is outstanding. Dividend Equivalents will be converted into additional Deferred Stock Units and will be subject to the same conditions and restrictions as the Deferred Stock Units to which they attach. The number of additional Deferred Stock Units to be received as Dividend Equivalents will be determined by dividing the cash dividend per share by the Fair Market Value of one Share on the dividend payment date. Dividend Equivalents as to the Deferred Stock Units will be subject to forfeiture and termination to the same extent as the corresponding Deferred Stock Units as to which the Dividend Equivalents relate.

 

5.     Rights of Participant.

 

5.1     Service as a Director. Nothing in this Agreement will confer upon the Participant any right to continue as a director of the Company.

 

5.2     Rights as a Shareholder. Except as otherwise provided in Section 4.2, the Participant will have no rights as, or privileges of, a shareholder of the Company, with respect to Shares covered by the Deferred Stock Units unless and until the Participant becomes the holder of record of such Shares issued in settlement of the Deferred Stock Units (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company or electronic delivery of such Shares has been made to Participant’s designated brokerage account).

 

5.3     Restrictions on Transfer. Except pursuant to testamentary will or the laws of descent and distribution or as otherwise expressly permitted by the Plan, no right or interest of the Participant in the Deferred Stock Units prior to the vesting, issuance or settlement of the Deferred Stock Units will be assignable or transferable, or subjected to any lien, during the lifetime of the Participant, either voluntarily or involuntarily, directly or indirectly, by operation of law or otherwise. Any attempt to transfer, assign or encumber the Deferred Stock Units other than in accordance with this Agreement and the Plan will be null and void and the Deferred Stock Units for which the restrictions have not lapsed will be forfeited and immediately returned to the Company.

 

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6.     Withholding Taxes. The Company is entitled to (a) withhold and deduct from future compensation of the Participant (or from other amounts that may be due and owing to the Participant from the Company, or one of its Subsidiaries or Affiliates), or make other arrangements for the collection of, all amounts the Company reasonably determines are necessary to satisfy any and all federal, foreign, state and local withholding and employment related tax requirements attributable to the Deferred Stock Units, including the grant, vesting or settlement of, or payment of Dividend Equivalents with respect to, the Deferred Stock Units, or (b) require the Participant promptly to remit the amount of such withholding to the Company before taking any action, including issuing any Shares, with respect to the Deferred Stock Units. The Committee may, in its sole discretion and upon terms and conditions established by the Committee, permit or require the Participant to satisfy, in whole or in part, any withholding or employment related tax obligation in connection with the Deferred Stock Units by withholding Shares issuable upon settlement of the Deferred Stock Units. When withholding Shares for taxes is effected under this Agreement and the Plan, Shares will be withheld only up to an amount based on the maximum statutory tax rates in the Participant’s applicable tax jurisdiction or such other rate that will not trigger a negative accounting impact on the Company.

 

7.     Miscellaneous.

 

7.1     Governing Law. The validity, construction, interpretation, administration and effect of this Agreement and any rules, regulations and actions relating to this Agreement will be governed by and construed exclusively in accordance with the laws of the State of Delaware, notwithstanding the conflicts of laws principles of any jurisdictions.

 

7.2     Interpretation. Any dispute regarding the interpretation of this Agreement will be submitted by the Participant or by the Company forthwith to the Committee for review. The resolution of such a dispute by the Committee will be final and binding on all parties.

 

7.3     Successors and Assigns. The Company may assign any of its rights under this Agreement to single or multiple assignees, and this Agreement will inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer herein set forth, this Agreement will be binding upon the Participant and his or her heirs, executors, administrators, successors and assigns.

 

7.4     Notices. All notices, requests or other communications provided for in this Agreement must be made, if to the Company, to DiaMedica Therapeutics Inc., Attn: Chief Financial Officer, Two Carlson Parkway, Suite 260, Minneapolis, MN 55447, and if to the Participant, to the last known mailing address of the Participant contained in the records of the Company. All notices, requests or other communications provided for in this Agreement must be made in writing either (a) by personal delivery, (b) by facsimile or electronic mail with confirmation of receipt, (c) by mailing in the United States mails or (d) by express courier service. The notice, request or other communication will be deemed to be received upon personal delivery, upon confirmation of receipt of facsimile or electronic mail transmission or upon receipt by the party entitled thereto if by United States mail or express courier service; provided, however, that if a notice, request or other communication sent to the Company is not received during regular business hours, it will be deemed to be received on the next succeeding business day of the Company.

 

7.5     Electronic Delivery and Acceptance. The Company may, in its sole discretion, deliver any documents related to the Deferred Stock Units by electronic means or request the Participant’s consent to participate in the Plan by electronic means. The Participant hereby consents to receive all applicable documentation by electronic delivery and to participate in the Plan through an on-line system established and maintained by the Company or a third party vendor designated by the Company.

 

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7.6     Other Laws. The Company will have the right to refuse to issue to the Participant or transfer any Shares subject to the Deferred Stock Units if the Company acting in its absolute discretion determines that the issuance or transfer of such Shares might violate any Applicable Law.

 

7.7     Investment Representation. The Participant hereby represents and covenants that (a) any Share acquired upon the vesting and settlement of the Deferred Stock Units will be acquired for investment and not with a view to the distribution thereof within the meaning of the United States Securities Act of 1933, as amended (the “Securities Act”), unless such acquisition has been registered under the Securities Act and any applicable state securities laws; (b) any subsequent sale of any such Shares will be made either pursuant to an effective registration statement under the Securities Act and any applicable state securities laws, or pursuant to an exemption from registration under the Securities Act and such state securities laws; and (c) if requested by the Company, the Participant will submit a written statement, in form satisfactory to the Company, to the effect that such representation (x) is true and correct as of the date of vesting of any Shares hereunder or (y) is true and correct as of the date of any sale of any such Share, as applicable. As a further condition precedent to the delivery to the Participant of any Shares subject to the Deferred Stock Units, the Participant will comply with all regulations and requirements of any regulatory authority having control of or supervision over the issuance or delivery of the Shares and, in connection therewith, will execute any documents which the Company will in its sole discretion deem necessary or advisable.

 

7.8     Non-Negotiable Terms. The terms of this Agreement and the Deferred Stock Units are not negotiable, but the Participant may refuse to accept the Deferred Stock Units by notifying the Company’s Chief Financial Officer in writing within thirty (30) day after the Grant Date set forth in the Grant Notice.

 

7.9     Acknowledgement by the Participant. In accepting the Deferred Stock Units, the Participant hereby acknowledges that:

 

(a)     The Plan is established voluntarily by the Company, it is discretionary in nature, and it may be modified, amended, suspended or terminated by the Company at any time, unless otherwise provided in the Plan.

 

(b)     The grant of the Deferred Stock Units is voluntary and does not create any contractual or other right to receive future awards of Deferred Stock Units, or benefits in lieu of Deferred Stock Units, even if Deferred Stock Units have been granted repeatedly in the past.

 

(c)     All decisions with respect to future Deferred Stock Units award grants, if any, will be at the sole discretion of the Company.

 

(d)     The Participant is voluntarily participating in the Plan.

 

(e)     Neither the award of Deferred Stock Units nor this Agreement will be interpreted to form an employment contract with the Company, or one of its Subsidiaries or Affiliates.

 

(f)     The future value of the Shares subject to the Deferred Stock Units is unknown and cannot be predicted with certainty and if the Deferred Stock Units vest and the Shares become issuable in accordance with the terms of this Agreement, the value of those Shares may increase or decrease.

 

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(g)     In consideration of the grant of the Deferred Stock Units, no claim or entitlement to compensation or damages shall arise from termination of the Deferred Stock Units or diminution in value of the Deferred Stock Units or Shares acquired upon settlement of the Deferred Stock Units resulting from the termination of service as a non-employee director of the Company (for any reason whatsoever and whether or not in breach of applicable labor laws) and the Participant hereby irrevocably releases the Company, including its Subsidiaries and Affiliates, from any such claim that may arise; if, notwithstanding the foregoing, any such claim is found by a court of competent jurisdiction to have arisen, then, by acceptance of the Deferred Stock Units, the Participant shall be deemed irrevocably to have waived his or her entitlement to pursue such claim.

 

(h)     In the event of termination of the Participant’s service as a non-employee director of the Company (whether or not in breach of local labor laws), the Participant’s right to receive the Deferred Stock Units and vest in the Deferred Stock Units under the Plan, if any, will terminate effective as of the date of termination of his or her active service as a non-employee director of the Company as determined in the sole discretion of the Committee and will not be extended by any notice of termination provided to the Participant by contract or practice of the Company, or one of its Subsidiaries or Affiliates, or mandated under local law and the Committee will have the sole discretion to determine the date of termination of the Participant’s service as a non-employee director of the Company for purposes of the Deferred Stock Units.

 

(i)     Neither the Company nor one of its Subsidiaries or Affiliates, is providing any tax, legal or financial advice, nor is the Company, or one of its Subsidiaries or Affiliates, making any recommendations regarding the Participant’s participation in the Plan, acceptance of the Deferred Stock Units, acquisition of Shares upon settlement of the Deferred Stock Units or any sale of such Shares.

 

(j)     The Participant has been advised to consult with his or her own personal tax, legal and financial advisors regarding his or her participation in the Plan before taking any action related to the Plan.

 

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