Document:

Exhibit 10.1

 

EMPLOYMENT AGREEMENT

 

THIS EMPLOYMENT AGREEMENT,
is made as of the Start Date (as defined below), by and between BIONIK LABORATORIES CORP., a Delaware corporation (hereinafter
referred to as the “Company”), and Tim McCarthy (hereinafter referred to as the “Employee”).

 

RECITALS

 

WHEREAS, the Company,
directly or through its subsidiaries, is engaged in the business of medical device research, development and production; and

 

WHEREAS, the Company
and the Employee have agreed to enter into an employment relationship upon the terms and subject to the conditions hereinafter
set forth.

 

NOW THEREFORE, in consideration
of the mutual covenants and promises herein contained and other good and valuable consideration, the parties agree as follows:

 

ARTICLE
1 – EMPLOYMENT AND DUTIES

 

1.1          
Appointment. Subject to the terms and conditions of this Agreement, the Company hereby agrees to employ the employee, and
the Employee hereby accepts employment, in the position of Chief Commercialization Officer of the Company (the “Position”),
effective on the first day of employment with the Company (the “Start Date”); provided that this Agreement shall not
be binding on the Company until the Employee gives official notice of resignation to his previous employer and informs the Company
of such resignation and the proposed Start Date.

 

1.2          
Term. The Employee shall be employed until terminated pursuant to the termination provisions set out in Article 4 and Article
5 of this Agreement and to any amendments as may from time to time be agreed to in writing by the Employee and the Company (the
“Term”).

 

1.3          
Reporting and Duties. The Employee shall report to the Chief Executive Officer of the Company. The Employee shall be responsible
for the preparation and implementation of the commercialization strategy for the Company and each of the Company’s existing
and planned products from time to time, support any and all partnering efforts associated with the Company’s existing and
planned products, and perform all of the normal and customary duties, responsibilities and authorities customarily accorded to,
and expected of the Position, including those duties, responsibilities and authorities as may be reasonably designated by the Chief
Executive Officer of the Company or the Board from time to time (collectively, the “Duties”). Services performed pursuant
to this Agreement shall be performed at the Company’s U.S. headquarters in Boston, Massachusetts, or such place(s) as shall
be mutually agreeable to the Company and Employee. The Employee understands and agrees that the Position requires travel to the
Company’s chief executive offices in Toronto, Canada from time to time, as well as other destinations, to fulfill the Duties.
The Employee agrees to comply with all applicable policies and rules of Company.

 

     

     

    

 

During the Term, the Employee shall faithfully
and honestly serve the Company and devote no less than full-time service to the business and affairs of the Company or, where applicable,
any subsidiary or other affiliate of the Company (individually a “Subsidiary” and collectively, the “Subsidiaries”),
including the Employee’s role in the Position and the Duties. The Employee shall use his best efforts to promote the interests
of the Company and its Subsidiaries. Notwithstanding the foregoing or anything else to the contrary herein, nothing in this Agreement
shall preclude the Employee from:

 

(a)           
engaging in charitable, education, communal or recreational activities; or

 

(b)          
engaging in another business enterprise as a passive investor; provided that in no event shall the Employee own more than
4.9% of any other business enterprise and further provided that no such business enterprise shall be a competitor of the Company
or its Subsidiaries.

 

However, the engagements described in 1.3(a)
– (b) above shall only be permissible so long as they do not result in a contravention of Article 3 hereof, or impair the
ability of the Employee to discharge his duties to the Company hereunder.

 

In addition, the Employee shall truly and
faithfully account for and deliver to the Company and its Subsidiaries, all money, securities and things of value belonging to
the Company or the Subsidiaries which the Employee may from time to time receive for, from or on account of the Company or the
Subsidiaries.

 

ARTICLE
2 – COMPENSATION

 

2.1          
Base Salary. The Employee will receive an annual base salary of Two Hundred Sixty Thousand Dollars ($260,000), payable in
accordance with the Company’s standard payroll practices in effect from time to time, and subject to applicable statutory
deductions and withholding required by law (“Base Salary”). The Employee’s Base Salary will be reviewed on an
annual basis to determine potential increases, if any, based on the Employee’s performance and that of the Company.

 

2.2          
Incentive Compensation. The Employee will be entitled to participate in the Company’s 2014 Equity Incentive Plan (the
“Plan”) based on the terms of the Plan. Subject to the immediately following sentence, the Employee shall be granted
incentive options to purchase an aggregate of 750,000 shares of the Company’s common stock, at an exercise price per share
equal to the fair market value of the Company’s common stock on the date of grant, and which shall vest equally over a three
(3) year period commencing one year from the date of grant and in the two subsequent years on the anniversary of the grant date.
The granting of any options or other equity compensation is conditional on the written approval of the Board, subject to stockholder
approval to increase the number of shares authorized for grant under the Plan (expected by the Company to be in the third quarter
of 2016), and the Company reserves the right to alter, amend, replace or discontinue the Plan or any other plan at any time, with
or without notice to the Employee.

 

2.3          
Bonus. The Employee may be entitled to earn an annual bonus of up to 50% of Base Salary, payable based on performance in
the previous fiscal year (“Bonus”). The Bonus will be determined based on the achievement of the Employee’s objectives
that will be agreed to with the Board for each particular fiscal year (the “Achievements”), and paid to Employee within
the earlier of 90 days after the close of each fiscal year and the completion of the company audit. The Achievements for the partial
fiscal year ended March 31, 2017 shall be determined in good faith and agreed to in writing by the Employee and the Company within
14 days after the date of this Agreement.

 

     

     

    

 

2.4          
Benefits. The Employee shall be entitled to participate in all of the Company’s (or applicable Subsidiary’s)
benefit plans generally available to its employees from time to time in accordance with the terms thereof. The Employee’s
participation in such plans shall become fully effective as of the commencement of his employment hereunder pursuant to the terms
of such plans. The Company reserves the right to alter, amend, replace or discontinue the benefit plans it makes available to its
employees at any time, with or without notice. Notwithstanding the preceding sentence, Company will pay eighty-five (85%) percent
of Employee’s agreed to cost for health, dental, life, and disability insurance coverage’s so long as Employee is employed.

 

2.5          
Vacation. The Employee shall be entitled to four (4) weeks of paid vacation per calendar year. Such vacation shall be taken
at a time or times acceptable to the Company. The Employee shall be allowed to carry forward any unused vacation into the next
calendar year for up to one (1) month.

 

2.6          
Expense Reimbursement. The Employee shall be reimbursed for all reasonable expenses actually and properly incurred by him
in connection with the performance of his duties hereunder. The Employee shall submit to the Company written, itemized expense
accounts, together with supporting invoices, acceptable to the Company and such other additional substantiation and justification
as the Company may reasonably request within sixty (60) days after the expenses have been incurred.

 

ARTICLE
3 –   COVENANTS

 

3.1         
No Restrictions on Employee’s Employment. The Employee acknowledges and affirms that he is not a party to any agreement
or understanding that would conflict or interfere with, or prevent or limit him from being employed by or perform services for
the Company.

 

3.2          
Confidential Information. The Employee hereby acknowledges that, by reason of his employment with the Company, he has and
will acquire information about matters and things which are confidential to the Company and/or the Subsidiaries (the “Confidential
Information”), and which Confidential Information is the exclusive property of the Company and/or the Subsidiaries, respectively.
The Confidential Information includes, without limitation, information concerning the Company’s and the Subsidiaries’
strategic plans, product research and development plans, details and results, trade secrets, supplier lists, data, work product
developed by or for the Company or the Subsidiaries, and all other data and information concerning the business and affairs of
the Company and the Subsidiaries. Notwithstanding anything to the contrary contained herein, for the purposes hereof, Confidential
Information shall not include:

 

(a)               
information that is generally available to and known by the public at the time of disclosure to the Employee, provided that
such disclosure is through no direct or indirect fault of the Employee or person(s) acting on the Employee's behalf; or

 

     

     

    

 

(b)              
information which the Employee is required to disclose pursuant to applicable law, policies or due processes of applicable
regulatory bodies or legal or regulatory proceedings; provided that the Employee provides the Company with prompt notice of same
and assists the Company in seeking to prevent or limit such requirement.

 

The Employee agrees that during the Term
and at all times thereafter, he shall not for any reason (except in the performance of his responsibilities for the Company) directly
or indirectly, (i) use for his own benefit or for the benefit of others, (ii) disseminate, publish or disclose, or (iii) authorize
or permit the use, dissemination or disclosure by any person, firm or entity, any Confidential Information without the express
written consent of the Board. Upon termination of the Employee’s employment or this Agreement, or at any time at the request
of the Company for any reason, the Employee agrees to return to the Company (or, in the case of electronic items, permanently delete)
all documents, records, storage, data, samples, and other property of the Company and its Subsidiaries, together with all copies
thereof which contain or incorporate any Confidential Information.

 

3.3          
Intellectual Property, Inventions and Patents. As part of the consideration for this Agreement and for his employment by
the Company, subject to the provisions of this Agreement, the Employee hereby assigns to the Company, as and when same arise, his
entire right, title and interest, including all intellectual property rights and trade secret rights, in and to any and all work
product that is conceived, created, developed or otherwise generated by the Employee from time to time that relates to the business
of the Company or the Subsidiaries, including but not limited to all inventions, research, designs, trade secrets, improvements,
plans, specifications and documentation (collectively, “Work Product”), all of which shall be deemed a work for hire
for the Company under the U.S. Copyright Act to the fullest extent permitted under the law. The Employee further agrees that he
will promptly, fully disclose to the Company all such Work Product and will, at any time from the date hereof, including during
and after his employment with the Company, at the Company’s expense, render to the Company or the Subsidiaries such cooperation
and assistance as the Company or the Subsidiaries may deem advisable in order to obtain copyright, patent, trademark or industrial
design registrations as the case may be on, or otherwise vest, perfect or defend the Company’s or the Subsidiaries’
rights with respect to, any or all Work Product. Such cooperation and assistance shall include, but is not limited to, the execution
of any and all applications for copyright, patent, trademark or industrial design registrations, assignments of copyrights and
other instruments in writing which the Company and the Subsidiaries may deem necessary or desirable. The Employee hereby irrevocably
waives all of his moral rights in the Work Product in favor of the Company and its Subsidiaries and their respective successors,
assignees and licensees.

 

The Employee shall take all precautions
to maintain and protect the legal rights of the Company and its Subsidiaries in the Work Product, and to maintain the confidentiality
of trade secrets included in the Work Product in accordance with Section 3.1 hereof. For certainty, no license to the Work Product
is granted to the Employee, except to the extent required for the performance of his responsibilities under this Agreement.

 

     

     

    

 

The Employee irrevocably appoints any other
officer of the Company or the Subsidiaries from time to time to be his attorney, with full power of substitution, to do on the
behalf of the Employee anything that the Employee can lawfully do by an attorney to do all acts and things in relation to ownership
of the Work Product which the Company or the Subsidiaries shall deem desirable, and to do, sign and execute all documents, conveyances,
deeds, assignments, transfers, assurances and other instruments which may reasonably be necessary or desirable for the purpose
of registering, vesting, perfecting; defending, assigning or otherwise dealing with the Work Product. Such power of attorney is
given for valuable consideration acknowledged by the Employee to be coupled with an interest, shall not be revoked by the bankruptcy
or insolvency of the Company or the Subsidiaries, and may be exercised by the officers of any successor or assign of the Company
or the Subsidiaries.

 

The Employee hereby covenants that the
Work Product will not violate or infringe any intellectual property rights of any third party or constitute an unauthorized use
of confidential or proprietary information of any third party.

 

All of the aforesaid covenants in this
Section shall be binding on the assigns, executors, administrators and other legal representatives of the Employee.

 

3.4          
Non-Solicitation of Employees. The Employee shall not, during the period from the date hereof to that date which is one
(1) year following the termination of this Agreement or the Employee’s employment, for any reason, directly or indirectly,
hire any employees or consultants of the Company or Subsidiaries, or induce or attempt to induce, solicit or attempt to solicit,
any of the employees or consultants of the Company or Subsidiaries to leave their employment or engagement with the Company.

 

3.5          
Non-Solicitation of Customers and Suppliers. The Employee shall not, during the period from the date hereof to that date
which is one (1) year following the termination of this Agreement or the termination of the Employee’s employment, for any
reason, directly or indirectly, without the prior written consent of the Company, solicit or attempt to solicit any customers of
the Company or the Subsidiaries with whom the Employee had contact or material knowledge of, for the purpose of selling to those
customers any products or services which are the same as or substantially similar to or in any way competitive with the products
or services sold by the Company or the Subsidiaries at the time of termination of this Agreement. The Employee shall not, during
the period from the date hereof to that date which is one (1) year following the termination of this Agreement or the termination
of the Employee’s employment, for any reason, directly or indirectly, without the prior written consent of the Company, solicit
or attempt to solicit any suppliers of the Company or the Subsidiaries with whom the Employee had contact with or material knowledge
of, for the purpose of diverting or attempting to divert business away from the Company or the Subsidiaries.

 

3.6          
Non-Competition. The Employee shall not, at any time during the period from the date hereof to that date which is one (1)
year following the date of termination of this Agreement or the Employee’s employment, engage in the commercialization of
medical devices similar to those, or devices that are in any way competitive with the products or services, developed, being developed,
commercialized and/or sold by the Company or the Subsidiaries during the term of this Agreement and at the time of the termination
of this Agreement (“Competitive Activity”). The Employee may not engage in such Competitive Activity either individually
or in partnership or jointly or in conjunction with any person as principal, agent, employee, consultant, shareholder (other than
a holding of shares listed on a United States stock exchange that does not exceed five percent (5%) of the outstanding shares so
listed) or in any other manner whatsoever, nor shall the Employee lend money to, guarantee the debts or obligations of or permit
his name or any part thereof to be used or employed by any person engaged in a similar business to the Company or the Subsidiaries.
The Company shall have the option to elect whether to enforce this Section 3.6. If the Company elects to enforce this Section 3.6,
it shall continue to pay the Employee’s base salary (at the rate at which it was paying the Employee’s base salary
on the date of termination) for as long as it wishes to enforce this Section 3.6, up to one (1) year following termination of employment.
The Company’s payment obligation pursuant to this Section 3.6 shall apply regardless of the circumstances or reasons leading
to the termination of the Employee’s employment. If the Company fails to continue the Employee’s base salary pursuant
to the terms of this Section 3.6, the Employee’s restrictions set forth in this Section 3.6 shall be void thereafter.

 

     

     

    

 

3.7          
Disparaging Comments. The Employee agrees not to make critical, negative or disparaging remarks about the Company or its
management, business or employment practices; provided that nothing in this paragraph shall be deemed to prevent the Employee from
responding fully and accurately to any question, inquiry or request for information when required by applicable law or legal process,
or to enforce this Agreement. The Company agrees to direct its officers and directors not to make critical, negative or disparaging
remarks about the Employee; provided that nothing in this paragraph shall be deemed to prevent the Company or its officers or directors
from responding fully and accurately to any question, inquiry or request for information when required by applicable law or legal
process, or to enforce this Agreement.

 

3.8          
Acknowledgement, Waiver and Enforcement. The Employee confirms that the restrictions contained in this Article 3 are reasonable
and valid to protect the legitimate business interests of the Company and the Subsidiaries, including its business plans and marketing
and commercialization strategies. The Employee hereby agrees and acknowledges that it would be extremely difficult to measure the
damages that might result from any breach of any of the covenants of the Employee contained herein and that any breach of any of
the covenants of the Employee might result in irreparable injury to the business for which monetary damages could not adequately
compensate. If a breach of any of the covenants of the Employee occurs, the Company shall be entitled, in addition to any other
rights or remedies the Company may have at law or in equity, to have an injunction issued by any competent court (without the need
to post a bond) enjoining and restricting the Employee and all other parties involved therein from continuing such breach.

 

3.9          
Notwithstanding anything to the contrary herein, if any applicable law or governmental entity shall reduce the time period
or scope during which the Employee shall be prohibited from engaging in any competitive or soliciting activity described in this
Article 3, the period of time or scope, as the case may be, for which the Employee shall be prohibited shall be reduced to the
maximum time or scope permitted by law.

 

3.10        
Survival and Enforceability. It is expressly agreed by the parties hereto that the provisions of this Article 3 shall survive
the termination of this Agreement and the Employee’s employment.

 

     

     

    

 

ARTICLE
4 – DEATH; DISABILITY

 

4.1          
Death. If the Employee dies while employed under this Agreement, this Agreement shall terminate immediately and the Company
shall pay to the Employee’s estate, any earned Base Salary, accrued vacation, if any, that is unpaid up to the date of his
death.

 

4.2          
Termination by Disability. The Company may terminate this Agreement as a result of any mental or physical disability or
illness which results in (a) the Employee being unable to substantially perform his duties for a continuous period of 150 days
or for periods aggregating 180 days within any period of 365 days or (b) the Employee being subject to a permanent or indefinite
inability to perform essential functions based on the opinion of a qualified medical provider chosen by the Company. Termination
will be effective on the date designated by the Company, and the Employee will be paid his annual Base Salary, accrued vacation,
if any, and benefits as set out in Section 2.4 through the date of termination.

 

ARTICLE
5  – TERMINATION OF EMPLOYMENT

 

5.1          
Termination by Company for Cause. The Company may terminate this Agreement for cause at any time without any prior notice.
The Employee will be provided with any unpaid, earned Base Salary incurred up to the date of termination. For the purposes of this
Agreement, “cause” shall mean:

 

(a)           
a material breach by the Employee of the terms of this Agreement;

 

(b)           
a conviction of or plea of guilty or nolo contendere to any felony or any other crime involving dishonesty or moral turpitude;

 

(c)           
the commission of any act of fraud or dishonesty, or theft of or intentional damage to the property of the Company;

 

(d)          
willful or intentional breach of the Employee’s fiduciary duties to the Company;

 

(e)           
the violation of a material policy of the Company as in effect from time to time; or

 

(f)            
any act or conduct that would constitute cause at common law.

 

5.2          
Termination by Company for Other than Cause. The Company may terminate this Agreement and the Employee’s employment,
for any reason without cause and provided that the Employee executes a general release to be provided to the Company in form and
substance acceptable to the Company, the Company shall pay to the Employee an amount equal to six (6) months’ salary and
benefits (the “Severance”) plus accrued vacation and pro-rata bonus, if any.

 

5.3          
Termination by Employee. The Employee may terminate this Agreement and his employment at any time, for any reason, provided
that the Employee provides the Company with thirty (60) days’ prior written notice. The Employee agrees to use his best effort
to assist the Company to complete an effective reallocation of his responsibilities upon the giving of such notice. In case of
Good Reason (as defined below), the Company shall pay to the Employee: (i) the Severance; (ii) accrued vacation time if any; provided
that the Company shall not be required to pay the Severance in the event the Company elects to enforce Section 3.6, and continues
paying Employee’s salary pursuant to Section 3.6 in an amount no less than the Severance amount. For purposes of this Employment
Agreement, “Good Reason” shall mean:

 

     

     

    

 

		(1)	A material diminution in the Employee's base compensation.

 

		(2)	A material diminution in the Employee's authority, duties, or responsibilities.

 

		(3)	Any other action or inaction that constitutes a material breach by the Company of this Employment
Agreement.

 

For Good Reason to exist, the Employee
must provide notice to the Company of the existence of any of the foregoing conditions within ninety (90) days of the initial existence
of the condition, and the Company shall upon such notice have a period of forty-five (45) days during which it may remedy the condition
(and upon such remedy Good Reason shall be deemed not to have existed).

 

5.4          
Limitation of Liability. The Employee acknowledges, understands and agrees that the payments and other benefits provided
for in this Article 5 represent the Company’s maximum termination and severance obligations to the Employee. No other notice
or severance entitlements shall apply. This provision shall remain in full force and effect unamended, notwithstanding any other
alterations to the terms and conditions of the Employee’s employment, unless agreed to by the Company in writing. The Employee
also acknowledges, understands and agrees that any such payment by the Company to the Employee on termination of the Employee’s
employment shall not prevent the Company from alleging cause for the termination.

 

5.5          
Effect of Termination. Upon any termination of this Agreement, the Employee shall immediately deliver or cause to be delivered
to the Company all Confidential Information and Company property which are in the possession, charge, control or custody of the
Employee.

 

ARTICLE
6 – GENERAL

 

6.1           Release.
Upon any termination of this Agreement or the Employee’s employment, the Employee agrees to release the Company, the Subsidiaries,
and all officers, directors and employees of the Company or the Subsidiaries from all actions, causes of action, claims or demands
as a result of such termination, except as otherwise expressly provided in this Agreement. Upon compliance with the applicable
termination provisions of this Agreement by the Company, the Employee agrees to deliver to the Company a full and final written
release of and from all actions or claims in connection with this Agreement and the Employee’s employment in favor of the
Company, the Subsidiaries, and their directors, officers and employees in a form to be provided by the Company.

 

6.2          
Recitals. The parties agree that the Recitals set out herein are true and accurate and shall form part of this Agreement.

 

     

     

    

 

6.3          
Headings. The division of this Agreement into articles and sections and the insertion of headings are for the convenience
of reference only and shall not affect the construction or interpretation of this Agreement.

 

6.4          
Assignment. This Agreement shall be personal as to the Employee and shall not be assignable by the Employee subject to the
terms herein. This Agreement shall inure to the benefit of and be binding upon the heirs, executors, administrators and legal personal
representatives of the Employee and the successors and assigns of the Company. The Company may assign this Agreement, in its sole
discretion, to any corporate affiliate or Subsidiary of the Company.

 

6.5          
Entire Agreement. This Agreement constitutes the entire agreement between the parties with respect to the subject matter
hereof and cancels and supersedes any prior understandings and agreements between the parties hereto with respect thereto, whether
verbal or in writing. There are no other written or verbal representations, warranties, terms, conditions, undertakings or collateral
agreements, express, implied or statutory between the parties.

 

6.6          
Amendments. No amendment to this Agreement shall be valid or binding unless set forth in writing and duly executed by both
of the parties hereto. The waiver by any party hereto of a breach of any provision of this Agreement shall not operate or be construed
as a waiver of any subsequent breach by any party.

 

6.7           Severability.
If any provision of this Agreement is determined to be invalid or unenforceable in whole or in part, such invalidity or unenforceability
shall attach only to such provision or part thereof and the remaining part of such provision and all other provisions hereof shall
continue in full force and effect.

 

6.8          
Further Acts. The parties shall do all such further acts and things and provide all such assurances and deliver all such
documents in writing as may be required, from time to time in order to fully carry out the terms, provisions and intent of this
Agreement.

 

6.9          
Notice. Any demand, notice or other communication to be given in connection with this Agreement shall be given in writing
by personal delivery, electronic delivery or by registered mail addressed to the recipient as follows:

 

Bionik Laboratories Corp.

483 Bay Street, N105

Toronto, Ontario M5G 2C9

Telephone: (416) 640-7887

Email: pb@bioniklabs.com

 

Tim McCarthy

At the most recent address on
file with the Company

 

Email: timothyamccarthy@yahoo.com

 

or such other address or number as may
be designated by either party to the other in accordance herewith. Any notice given by personal delivery will be conclusively deemed
to have been given on the day of actual delivery of the notice and, if given by registered mail, on the third day, other than a
Saturday, Sunday or statutory holiday in Ontario, Canada or the Commonwealth of Massachusetts, following the deposit of the notice
in the mail. If the party giving any notice knows or ought reasonably to know of any difficulties with the postal system that might
affect the delivery of mail, any such notice may not be mailed but must be given by personal delivery. In the case of electronic
delivery, on the same day that it was sent if sent on a business day and the acknowledgement of receipt is received by the sender
before 5:00 p.m. (in the place of receipt) on such day, and otherwise on the first business day thereafter.

 

     

     

    

 

6.10        
Jurisdiction. This Agreement shall be governed by and construed in accordance with the laws of the Commonwealth of Massachusetts.
Each of the parties hereto agrees that any action or proceeding related to this Agreement must be brought in any court of competent
jurisdiction in the Commonwealth of Massachusetts, and for that purpose hereby submits to the jurisdiction of such Massachusetts
court.

 

6.11        
Section 409A. This Agreement is intended to comply with or be exempt from Section 409A of the Code and will be interpreted,
administered and operated in a manner consistent with that intent. Notwithstanding anything herein to the contrary, if at the time
of the Employee’s separation from service with the Company he is a “specified employee” as defined in Section
409A of the Code (and the regulations thereunder) and any payments or benefits otherwise payable hereunder as a result of such
separation from service are subject to Section 409A of the Code, then the Company will defer the commencement of the payment of
any such payments or benefits hereunder (without any reduction in such payments or benefits ultimately paid or provided to the
Employee) until the date that is six months following the Employee’s separation from service with the Company (or the earliest
date as is permitted under Section 409A of the Code), and the Company will pay any such delayed amounts in a lump sum at such time.
If any other payments of money or other benefits due to the Employee hereunder could cause the application of an accelerated or
additional tax under Section 409A of the Code, such payments or other benefits shall be deferred if deferral will make such payment
or other benefits compliant under Section 409A of the Code, or otherwise such payment or other benefits shall be restructured,
to the extent possible, in a manner, determined by the Company, that does not cause such an accelerated or additional tax. To the
extent any reimbursements or in-kind benefits due to the Employee under this Agreement constitute “deferred compensation”
under Section 409A of the Code, any such reimbursements or in-kind benefits shall be paid to the Employee in a manner consistent
with Treas. Reg. Section 1.409A-3(i)(1)(iv). Each payment made under this Agreement shall be designated as a “separate payment”
within the meaning of Section 409A of the Code. References to “termination of employment” and similar terms used in
this Agreement are intended to refer to “separation from service” within the meaning of Section 409A of the Code to
the extent necessary to comply with Section 409A of the Code. Whenever a payment under this Agreement may be paid within a specified
period, the actual date of payment within the specified period shall be within the sole discretion of the Company. In no event
may the Employee, directly or indirectly, designate the calendar year of any payment to be made under this Agreement. Any provision
in this Agreement providing for any right of offset or set-off by the Company shall not permit any offset or set-off against payments
of “non-qualified deferred compensation” for purposes of Section 409A of the Code or other amounts or payments to the
extent that such offset or set-off would result in any violation of Section 409A or adverse tax consequences to the Employee under
Section 409A.

 

     

     

    

 

6.12         Independent
Legal Advice. The Employee acknowledges that he has been advised to seek independent legal counsel in respect of the Agreement
and the matters contemplated herein. To the extent that he declines to receive independent legal counsel in respect of the Agreement,
he waives the right, should a dispute later develop, to rely on his lack of independent legal counsel to avoid his obligations,
to seek indulgences from the Company or to otherwise attack the integrity of the Agreement and the provisions thereof, in whole
or in part.

 

 

 

[Remainder
of Page Intentionally Left Blank; Signature Page Follows]

 

     

     

    

 

IN WITNESS WHEREOF
this Agreement has been executed by the parties hereto as of the date first written above.

 

	 	BIONIK LABORATORIES CORP.
	 	 
	 	 
	 	By:    /s/ Peter Bloch                                                       
	 	Name:  Peter Bloch
	 	Title:  CEO
	 	 
	 	 
	 	        /s/ Tim McCarthy                                                       
	 	NAME: Tim McCarthyEX-4.1

 Exhibit 4.1 

FIFTH SUPPLEMENTAL INDENTURE 

Dated as of August 8, 2016 
 Among

 OWENS CORNING, 
 As Issuer

 Each of the SUBSIDIARY GUARANTORS party hereto 

and 
 WELLS FARGO BANK, NATIONAL
ASSOCIATION, 
 As Trustee 

3.400% Senior Notes Due 2026 

 THIS FIFTH SUPPLEMENTAL INDENTURE (the “Fifth Supplemental Indenture”), dated as
of August 8, 2016, among OWENS CORNING, a Delaware corporation (“Company”), the SUBSIDIARY GUARANTORS listed on the signature pages hereto (“Subsidiary Guarantors”), and WELLS FARGO BANK, NATIONAL ASSOCIATION, a
national banking association duly incorporated and existing under the laws of the United States of America, as Trustee (“Trustee”). 

W I T N E S S E T H: 
 WHEREAS,
the Company, certain Subsidiary Guarantors and the Trustee have heretofore executed and delivered an Indenture, dated as of June 2, 2009 (the “Original Indenture”) (as supplemented by that certain First Supplemental Indenture, dated
as of June 8, 2009, as further supplemented by that certain Second Supplemental Indenture, dated as of May 26, 2010, as further supplemented by that certain Third Supplemental Indenture, dated as of October 22, 2012, as further supplemented by that
certain Fourth Supplemental Indenture, dated as of November 12, 2014, and as hereby further supplemented, the “Indenture”), providing for the issuance from time to time of one or more series of the Company’s Securities; 

WHEREAS, pursuant to the terms of the Indenture, the Company desires to provide for the establishment of a series of Securities to be
designated as the “3.400% Senior Notes due 2026” (herein referred to as the “2026 Notes”), the form and substance of the 2026 Notes and the terms, provisions and conditions thereof to be set forth as provided in the
Original Indenture and this Fifth Supplemental Indenture; 
 WHEREAS, Section 2.03 of the Original Indenture provides that various matters
with respect to any series of Securities issued under the Indenture may be established in a supplemental indenture to the Indenture; 

WHEREAS, Section 9.01(vii) of the Original Indenture provides that the Company, the Subsidiary Guarantors and the Trustee may enter into a
supplemental indenture to the Indenture to establish the form or terms of Securities of any series as permitted by the Original Indenture; 

WHEREAS, Section 9.01(iv) of the Original Indenture provides that the Company, the Subsidiary Guarantors and the Trustee may enter into a
supplemental indenture to change or eliminate any of the provisions of the Indenture with respect to any series of Securities (other than any outstanding Securities of any series to which such modification would apply); and 

WHEREAS, all acts and things necessary to make this Fifth Supplemental Indenture, when duly executed and delivered, a valid, binding and legal
instrument in accordance with its terms and for the purposes herein expressed, have been done and performed; and the execution and delivery of this Fifth Supplemental Indenture have been in all respects duly authorized. 

NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt whereof is hereby acknowledged,
it is agreed by and among the Company, the Subsidiary Guarantors, and the Trustee as follows: 

  
 1 

 ARTICLE ONE 

Relation to Indenture; Additional Definitions 

1.1 Relation to Indenture. This Fifth Supplemental Indenture constitutes an integral part of the Indenture. 

1.2 Additional Definitions. For all purposes of this Fifth Supplemental Indenture, capitalized terms used herein shall have the
respective meanings specified below or in the Original Indenture, as the case may be. 
 “Beneficial Owner” has the meaning
assigned to such term in Rule 13d-3 and Rule 13d-5 under the Exchange Act, except that in calculating the beneficial ownership of any particular “person” (as that term is used in Section 13(d)(3) of the Exchange Act), such
“person” will be deemed to have beneficial ownership of all securities that such “person” has the right to acquire by conversion or exercise of other securities, whether such right is currently exercisable or is exercisable only
after the passage of time. The terms “Beneficially Owns” and “Beneficially Owned” have a corresponding meaning. 

“Change of Control” means the occurrence of any of the following: 

1) the direct or indirect sale, lease, 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) of the Exchange
Act); 
 2) the adoption of a plan relating to the liquidation or dissolution of the Company; 

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, directly or indirectly, of more than 50% of the Voting Stock of the Company, measured by voting power rather than number of shares; or 

4) the first day on which a majority of the members of the Board of Directors of the Company are not Continuing Directors. 

“Change of Control Offer” has the meaning set forth in Section 2.11(a). 

“Change of Control Payment” has the meaning set forth in Section 2.11(a). 

“Change of Control Payment Date” has the meaning set forth in Section 2.11(a)(2). 

“Change of Control Repurchase Event” means the occurrence of a Change of Control and a Ratings Downgrade. 

  
 2 

 “Comparable Treasury Issue” means the United States Treasury security selected
by the Quotation Agent as having a maturity comparable to the remaining term of the 2026 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
notes of comparable maturity to the remaining term of the 2026 Notes. 
 “Comparable Treasury Price” means, with respect to
any redemption date, (1) the average of four Reference Treasury Dealer Quotations for such redemption date, after excluding the highest and lowest such Reference Treasury Dealer Quotations, or (2) if the Quotation Agent obtains fewer than four such
Reference Treasury Dealer Quotations, the average of all such quotations. 
 “Continuing Directors” means, as of any date
of determination, any member of the Board of Directors of the Company who: 
 1) was a member of such Board of Directors on
the date of the indenture; or 
 2) was nominated for election or elected to such Board of Directors with the approval of a
majority of the Continuing Directors who were members of such Board of Directors at the time of such nomination or election. 

“Corporate Trust Office” means the office of the Trustee at which the corporate trust business of the Trustee with respect to
the Indenture is principally administered, which at the date of this Fifth Supplemental Indenture is located at the offices of Wells Fargo Bank, National Association, CMES, 150 East 42nd Street,
40th Floor, New York, NY 10017. 
 “Credit Agreement” means the
Amended and Restated Credit Agreement dated as of November 13, 2015, among the Company, the lending institutions party thereto and Wells Fargo Bank, National Association, as administrative agent, and any related notes, guarantees, collateral
documents, instruments and agreements executed in connection therewith, and in each case, as amended, restated, modified, renewed, refunded, replaced (whether upon termination or otherwise) or refinanced in whole or in part from time to time. 

“Global Notes” has the meaning set forth in Section 2.7(a). 

“Interest Payment Dates” means February 15 and August 15 of each year, or if any such day is not a Business Day,
the next succeeding Business Day (and no interest shall accrue on such payment for the intervening period), until maturity, beginning on February 15, 2017. 

“Maturity Date” has the meaning set forth in Section 2.3. 

“Notation of Guarantee” has the meaning set forth in Section 2.8. 

“Note Registrar” means Wells Fargo Bank, National Association, hereby appointed as an agency of the Company in accordance
with Section 2.05 of the Indenture. 
 “Optional Redemption Date” means May 15, 2026. 

  
 3 

 “Original Indenture” has the meaning set forth in the first paragraph of the
Recitals hereof. 
 “Quotation Agent” means a Reference Treasury Dealer appointed by the Company. 

“Rating Agency” means each of Moody’s Investors Service Inc. and Standard & Poor’s Ratings Services, a division
of The McGraw-Hill Companies, Inc., or any of their successors. 
 “Ratings Downgrade” means when, at the time of a Change
of Control, the 2026 Notes carry: 
 1) an investment grade credit rating (BBB-/Baa3, or equivalent, or better) from both
Rating Agencies, and such rating from both Rating Agencies is within 60 days of the occurrence of the Change of Control (which period shall be extended so long as the rating of the 2026 Notes is under publicly announced consideration for possible
downgrade by either Rating Agency) either downgraded to a non-investment grade credit rating (BB+/Ba1 or equivalent, or worse) or withdrawn and is not within such period subsequently (in the case of a downgrade) upgraded to an investment grade
credit rating or (in the case of a withdrawal) replaced by an investment grade credit rating; 
 2) a non-investment grade
credit rating (BB+/Ba1, or equivalent, or worse) from both Rating Agencies, and such rating from both Rating Agencies is within 60 days of the occurrence of the Change of Control (which period shall be extended so long as the rating of the 2026
Notes is under publicly announced consideration for possible downgrade by either Rating Agency) downgraded by one or more notches (for illustration, Ba1 to Ba2 being one notch) and is not within such period subsequently upgraded to its earlier
credit rating or better by both Rating Agencies; 
 3) both (A) an investment grade credit rating (BBB-/Baa3, or equivalent,
or better) from one Rating Agency, and such rating is within 60 days of the occurrence of the Change of Control (which period shall be extended so long as the rating of the 2026 Notes is under publicly announced consideration for possible downgrade
by either Rating Agency) either downgraded to a non-investment grade credit rating (BB+/Ba1, or equivalent, or worse) or withdrawn and is not within such period subsequently (in the case of a downgrade) upgraded to an investment grade credit rating
by such Rating Agency or (in the case of a withdrawal) replaced by an investment grade credit rating from such Rating Agency and (B) a non-investment grade credit rating (BB+/Ba1, or equivalent, or worse) from one Rating Agency, and such rating is
within 60 days of the occurrence of the Change of Control (which period shall be extended so long as the rating of the 2026 Notes is under publicly announced consideration for possible downgrade by either Rating Agency) downgraded by one or more
notches (for illustration, Ba1 to Ba2 being one notch) and is not within such period subsequently upgraded to its earlier credit rating or better by such Rating Agency; 

4) both (A) an investment grade credit rating (BBB-/Baa3, or equivalent, or better) from one Rating Agency, and such rating is
within 60 days of the occurrence of the Change of Control (which period shall be extended so long as the rating of the 2026 

  
 4 

 
Notes is under publicly announced consideration for possible downgrade by either Rating Agency) either downgraded to a non-investment grade credit rating (BB+/Ba1, or equivalent, or worse) or
withdrawn and is not within such period subsequently (in the case of a downgrade) upgraded to an investment grade credit rating by such Rating Agency or (in the case of a withdrawal) replaced by an investment grade credit rating from such Rating
Agency and (B) no credit rating from one Rating Agency, and such Rating Agency does not assign within 60 days of the occurrence of the Change of Control an investment grade credit rating to the 2026 Notes; 

5) both (A) a non-investment grade credit rating (BB+/Ba1, or equivalent, or worse) from one Rating Agency, and such rating is
within 60 days of the occurrence of the Change of Control (which period shall be extended so long as the rating of the 2026 Notes is under publicly announced consideration for possible downgrade by either Rating Agency) downgraded by one or more
notches (for illustration, Ba1 to Ba2 being one notch) and is not within such period subsequently upgraded to its earlier credit rating or better by such Rating Agency and (B) no credit rating from one Rating Agency, and such Rating Agency does not
assign within 60 days of the occurrence of the Change of Control an investment grade credit rating to the 2026 Notes; or 

6) no credit rating from either Rating Agency and both Rating Agencies do not assign within 60 days of the occurrence of the
Change of Control an investment grade credit rating to the 2026 Notes; 
 and in making the relevant decision(s) referred to above to downgrade or withdraw
such ratings, as applicable, the relevant Rating Agency announces publicly or confirms in writing to the Company that such decision(s) resulted, in whole or in part, from the occurrence of the Change of Control. 

“Reference Treasury Dealer” means (i) each of Merrill Lynch, Pierce, Fenner & Smith Incorporated, Citigroup Global
Markets Inc. and Wells Fargo Securities, LLC, and at least two other primary U.S. Government securities dealers in New York City (each, a “Primary Treasury Dealer”) selected by the Company; provided, however, that if any of the foregoing
shall cease to be a Primary Treasury Dealer, the Company will substitute therefor another Primary Treasury Dealer; and (ii) any other Primary Treasury Dealer selected by the Company. 

“Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any redemption date, the
average, as determined by the Company, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Quotation Agent by such Reference Treasury Dealer at 5:00
p.m., New York City time, on the third Business Day preceding such redemption date. 
 “Treasury Rate” means, with respect
to any redemption date, the rate per annum equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the
Comparable Treasury Price for such redemption date. 
 “2026 Notes” has the meaning set forth in the second paragraph of
the Recitals hereof. 

  
 5 

 All references herein to Articles, Sections or Exhibits, unless otherwise specified, refer to the
corresponding Articles, Sections or Exhibits of this Fifth Supplemental Indenture. The terms “herein,” “hereof,” “hereunder” and other words of similar import refer to this Fifth Supplemental
Indenture. 
 ARTICLE TWO 

The Series of Notes 
 2.1
Title of the Notes. The 2026 Notes shall be designated as the “3.400% Senior Notes due 2026.” 
 2.2
Limitation on Aggregate Principal Amount. The aggregate principal amount of 2026 Notes that may initially be outstanding shall not exceed $400,000,000. 

2.3 Stated Maturity. The stated maturity of the 2026 Notes shall be August 15, 2026 (the “Maturity Date”).

 2.4 Interest and Interest Rate. 

(a) The 2026 Notes shall bear interest at the rate of 3.400% per annum, from and including their Original Issue Date of August 8, 2016, or
from the most recent Interest Payment Date on which interest has been paid or provided for, but excluding, the Maturity Date. Such interest shall be payable semiannually in arrears, on the Interest Payment Dates of February 15 and
August 15 in each year, commencing on February 15, 2017. Interest accrued on the 2026 Notes from the last Interest Payment Date before the Maturity Date shall be payable on the Maturity Date. 

(b) The interest so payable on any Interest Payment Date shall be paid to the Persons in whose names the 2026 Notes are registered at the
close of business on the record date for such Interest Payment Date, being the immediately preceding February 1 and August 1, as the case may be, whether or not such day is a Business Day. 

(c) The Company will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and
premium, if any, from time to time on demand at a rate that is 1% per annum in excess of 3.400% to the extent lawful; it will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of
interest (without regard to any applicable grace periods) from time to time on demand at a rate that is 1% per annum in excess of 3.400% to the extent lawful. 

2.5 Place of Payment. The place or places where the principal of and interest on the 2026 Notes shall be payable is the
office or agency of the Company maintained for such purpose, which shall initially be the Corporate Trust Office of the Trustee, and any other place or places designated by the Company pursuant to the Indenture, provided that while the 2026 Notes
are represented by one or more Registered Global Securities registered in the name of the Depositary, or its nominee, the Company will cause payments of principal and interest on such Registered Global Securities to be made to the Depositary or its
nominee, as the case may be, by wire transfer to the extent, in the funds and in the manner required by agreements with, or regulations or procedures prescribed from time to time by the Depositary or its nominee, and otherwise in accordance with
such agreements, regulations or procedures. 

  
 6 

 2.6 Place of Registration or Exchange; Notices and Demands With Respect to the 2026
Notes. The place where the Holders of the 2026 Notes may present the 2026 Notes for registration of transfer or exchange and may make notices and demands to or upon the Company in respect of the 2026 Notes shall be the Corporate
Trust Office of the Trustee. 
 2.7 Global Notes. 

(a) The 2026 Notes shall be issuable in whole or in part in the form of one or more global notes (the “Global Notes”) in
definitive, fully registered, book-entry form, without interest coupons, only in minimum denominations of $2,000 and integral multiples of $1,000 in excess of $2,000. The Global Notes shall be deposited on their Original Issue Date with, or on
behalf of, the Depositary. 
 (b) The Depository Trust Company (“DTC”) shall initially serve as Depositary with respect to
the Global Notes. Such Global Notes shall bear the legend set forth in the form of 2026 Notes attached as Exhibit A. 
 2.8
Form of Securities. The Global Notes shall be substantially in the form attached as Exhibit A. The notation of the Note Guarantee of each Subsidiary Guarantor (the “Notation of Guarantee”) shall be
substantially in the form attached as Exhibit B. 
 2.9 Note Registrar. The Trustee shall initially serve as the
Note Registrar for the 2026 Notes. 
 2.10 Sinking Fund Obligations. The Company shall have no obligation to redeem or
purchase any 2026 Notes pursuant to any sinking fund or analogous requirement. 
 2.11 Offer to Repurchase Upon Change of Control
Repurchase Event. 
 (a) Upon the occurrence of a Change of Control Repurchase Event, unless the Company has exercised the option to
redeem the 2026 Notes by giving notice of such redemption to the Holders thereof, the Company will make an offer (a “Change of Control Offer”) to each Holder of the 2026 Notes to repurchase all or any part (equal to $2,000 or
integral multiples of $1,000 in excess of $2,000) of that Holder’s 2026 Notes at a purchase price in cash equal to 101% of the aggregate principal amount of 2026 Notes repurchased plus accrued and unpaid interest on the 2026 Notes repurchased
to, but not including, the date of repurchase, subject to the rights of Holders of the 2026 Notes on the relevant record date to receive interest due on the relevant interest payment date (the “Change of Control
Payment”). Within 30 days following any Change of Control Repurchase Event, the Company will mail or deliver in accordance with DTC procedures a notice to each Holder and the Trustee describing the transaction or transactions that
constitute the Change of Control Repurchase Event and stating: 
 (1) that the Change of Control Offer is being made pursuant to this
section of the Fifth Supplemental Indenture and that all 2026 Notes tendered will be accepted for payment; 

  
 7 

 (2) the purchase price and the purchase date, which shall be no earlier than 30 days and no
later than 60 days from the date such notice is mailed (the “Change of Control Payment Date”); 
 (3) that any 2026 Note
not tendered will continue to accrue interest; 
 (4) that, unless the Company defaults in the payment of the Change of Control Payment,
all 2026 Notes accepted for payment pursuant to the Change of Control Offer will cease to accrue interest after the Change of Control Payment Date; 

(5) that Holders electing to have any 2026 Notes purchased pursuant to a Change of Control Offer will be required to surrender the 2026
Notes, with the form entitled “Option of Holder to Elect Purchase” attached to the 2026 Notes completed, or transfer by book-entry transfer, to the Paying Agent at the address specified in the notice prior to the close of business on the
third Business Day preceding the Change of Control Payment Date; 
 (6) that Holders of the 2026 Notes will be entitled to withdraw their
election if the Paying Agent receives, not later than the close of business on the second Business Day preceding the Change of Control Payment Date, a telegram, telex, facsimile transmission or letter setting forth the name of such Holder, the
principal amount of 2026 Notes delivered for purchase, and a statement that such Holder is withdrawing his election to have the 2026 Notes purchased; and 

(7) that Holders whose 2026 Notes are being purchased only in part will be issued new 2026 Notes equal in principal amount to the unpurchased
portion of the 2026 Notes surrendered, which unpurchased portion must be equal to $2,000 in principal amount or an integral multiple of $1,000 in excess of $2,000. 

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 those laws and regulations are applicable in connection with the repurchase of the 2026 Notes as a result of a Change of Control Repurchase Event. To the extent that the provisions of any securities laws or regulations conflict with
the provisions of this Section 2.11, the Company will comply with the applicable securities laws and regulations and will not be deemed to have breached its obligations under this Section 2.11 by virtue of such compliance. 

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

(1) accept for payment all the 2026 Notes or portions of the 2026 Notes properly tendered pursuant to the Change of Control Offer; 

(2) deposit with the Paying Agent an amount equal to the Change of Control Payment in respect of all the 2026 Notes or portions of the 2026
Notes properly tendered; and 
 (3) deliver or cause to be delivered to the Trustee the 2026 Notes properly accepted together with an
Officers’ Certificate stating the aggregate principal amount of the 2026 Notes or portions of the 2026 Notes being purchased by the Company. 

  
 8 

 The Paying Agent will promptly mail (but in any case not later than five days after the Change of
Control Payment Date) to each Holder of the 2026 Notes properly tendered the Change of Control Payment for such 2026 Notes, and the Trustee will promptly authenticate and mail (or cause to be transferred by book entry) to each Holder a new 2026 Note
equal in principal amount to any unpurchased portion of the 2026 Notes surrendered, if any. The Company will publicly announce the results of the Change of Control Offer on or as soon as practicable after the Change of Control Payment Date.

 (c) Notwithstanding anything to the contrary herein, the Company will not be required to make a Change of Control Offer upon a Change of
Control Repurchase Event if a third party makes the Change of Control Offer in the manner, at the times and otherwise in compliance with the requirements set forth herein and purchases all 2026 Notes properly tendered and not withdrawn under the
Change of Control Offer. 
 2.12 Other Terms. The provisions of Article Three and Article Four shall apply to the 2026
Notes as set forth therein. 
 ARTICLE THREE 

Optional Redemption of the 2026 Notes 

3.1 Redemption Price Prior to the Optional Redemption Date. The Company shall have the right to redeem the 2026 Notes, at its
option, in whole at any time or in part from time to time. If the Company redeems the 2026 Notes prior to the Optional Redemption Date, the Company shall pay a redemption price equal to the greater of: 

(a) 100% of the principal amount of the 2026 Notes to be redeemed; and 

(b) as determined by the Quotation Agent, the sum of the present values of the remaining scheduled payments of principal and interest on the
2026 Notes being redeemed (excluding any portion of such payments of interest accrued as of the date of redemption), discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the
Treasury Rate, plus 30 basis points; 
 plus, in each case, accrued and unpaid interest thereon to, but not including, the redemption
date. The actual redemption price calculated as described in this Section 3.1 will be set forth in an Officers’ Certificate delivered to the Trustee no later than two Business Days prior to the redemption date and the calculation or the
correctness thereof shall not be a duty or obligation of the Trustee. 
 3.2 Redemption Price On or After the Optional Redemption
Date. At any time on or after the Optional Redemption Date, the Company shall have the right to redeem the 2026 Notes, 

  
 9 

 
at its option, in whole at any time or in part from time to time, at a redemption price of 100% of the principal amount of the 2026 Notes to be redeemed, plus accrued and unpaid interest thereon
to, but not including, the redemption date. 
 ARTICLE FOUR 

Miscellaneous Provisions 

4.1 The Indenture, as supplemented by this Fifth Supplemental Indenture, is in all respects hereby adopted, ratified and confirmed. 

4.2 This Fifth 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 Fifth Supplemental Indenture and of signature pages by facsimile or PDF transmission shall constitute effective execution and delivery of this Fifth
Supplemental Indenture as to the parties hereto and may be used in lieu of the original Fifth Supplemental 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. 
 4.3 THIS FIFTH SUPPLEMENTAL INDENTURE AND EACH 2026 NOTE SHALL BE GOVERNED BY AND DEEMED TO BE A CONTRACT MADE UNDER,
AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK AND FOR ALL PURPOSES SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES THEREOF. EACH OF THE COMPANY, THE
SUBSIDIARY GUARANTORS, THE TRUSTEE AND EACH HOLDER, BY ITS ACCEPTANCE OF A NOTE, HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO
THIS FIFTH SUPPLEMENTAL INDENTURE OR THE TRANSACTIONS CONTEMPLATED HEREBY. 
 4.4 If any provision in this Fifth Supplemental Indenture
limits, qualifies or conflicts with another provision hereof that is required to be included herein by any provisions of the Trust Indenture Act, such required provision shall control. 

4.5 In case any provision in this Fifth Supplemental Indenture or the 2026 Notes shall be invalid, illegal or unenforceable, the validity,
legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

  
 10 

 4.6 The recitals contained herein 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 and shall not be responsible for the proper authorization or due execution hereof or of the 2026 Notes by the Company or the Subsidiary Guarantors or
as to the validity or sufficiency of this Fifth Supplemental Indenture, any Notation of Guarantee or the 2026 Notes. The Trustee shall not be accountable for the use or application by the Company of the 2026 Notes or the proceeds of the 2026 Notes.
Neither the Trustee nor any Paying Agent shall be responsible for monitoring the Company’s ratings, making any request upon any Rating Agency, or determining whether any Ratings Downgrade or Change of Control Repurchase Event has occurred. 

*        *        *       
 * 

  
 11 

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

			
	OWENS CORNING
		
	By	 	 /s/ Michael C. McMurray

	Name:	 	Michael C. McMurray
	Title:	 	Senior Vice President and Chief Financial Officer
		
	By	 	 /s/ Brad Lazorka

	Name:	 	Brad Lazorka
	Title:	 	Vice President, Treasurer
	
	CDC CORPORATION,
	ENGINEERED PIPE SYSTEMS, INC.,
	ERIC COMPANY,
	IPM INC.,
	OWENS CORNING COMPOSITE MATERIALS, LLC,
	OWENS CORNING CONSTRUCTION SERVICES, LLC,
	OCV INTELLECTUAL CAPITAL, LLC,
	OWENS CORNING FOAM INSULATION, LLC,
	OWENS CORNING FRANCHISING, LLC,
	OWENS-CORNING FUNDING CORPORATION,
	OWENS CORNING HOMEXPERTS, INC.,
	OWENS CORNING HT, INC.,
	OWENS CORNING INSULATING SYSTEMS, LLC,
	OWENS CORNING INTELLECTUAL CAPITAL, LLC,
	OWENS CORNING ROOFING AND ASPHALT, LLC,
	OWENS CORNING SALES, LLC,
	OWENS CORNING SCIENCE AND TECHNOLOGY, LLC,
	OWENS CORNING U.S. HOLDINGS, LLC, and
	SOLTECH, INC.
		
	By	 	 /s/ Brad Lazorka

	Name:	 	Brad Lazorka
	Title:	 	Authorized Signatory

  
 Signature Page
to Fifth Supplemental Indenture 

 
			
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee
		
	By:	 	 /s/ Gregory S. Clarke

	Name:	 	Gregory S. Clarke
	Title:	 	Vice President

  
 Signature Page
to Fifth Supplemental Indenture 

 Exhibit A 

FORM OF NOTE CERTIFICATE 
  

 
 CUSIP/ISIN: 690742 AF8 /
US690742AF87 
 3.400% Senior Notes due 2026 
  

			
	 No. 1
	  	$400,000,000

 Owens Corning 

promises to pay to Cede & Co., or registered assigns, the principal sum of $400,000,000 on August 15, 2026.

Interest Payment Dates: February 15 and August 15 

Record Dates: February 1 and August 1 
 Dated:
August 8, 2016 
  
  

  
 A-1 

 
			
	Owens Corning
		
	By:	 	  

	Name:	 	
	Title:	 	

 Dated August 8, 2016 

This is one of the Securities referred to in the within-mentioned Indenture: 
  

			
	 WELLS FARGO BANK, NATIONAL ASSOCIATION,

	 as Trustee

		
	By:	 	  

		 	Authorized Signatory

  
 A-1 

 3.400% Senior Notes due 2026 

THIS SECURITY IS A REGISTERED GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A
NOMINEE THEREOF. THIS SECURITY IS EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE AND, UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR
IN PART FOR SECURITIES IN DEFINITIVE REGISTERED FORM, THIS SECURITY MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO THE NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY
OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. 
 Capitalized terms used
herein have the meanings assigned to them in the Indenture referred to below unless otherwise indicated. 
 (1)
INTEREST. Owens Corning, a Delaware corporation (the “Company”), promises to pay interest on the principal amount of this Security at 3.400% per annum from August 8, 2016 until maturity. The Company will pay interest
semi-annually in arrears on February 15 and August 15 of each year, or if any such day is not a Business Day, on the next succeeding Business Day, and no interest shall accrue on such payment for the intervening period (each, an
“Interest Payment Date”). Interest on the Securities will accrue from the most recent date to which interest has been paid 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 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;
provided further that the first Interest Payment Date shall be February 15, 2017. The Company will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time
to time on demand at a rate that is 1% per annum in excess of 3.400% to the extent lawful; it will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (without regard to any
applicable grace periods) from time to time on demand at a rate that is 1% per annum in excess of 3.400% to the extent lawful. Interest will be computed on the basis of a 360-day year of twelve 30-day months. 

(2) METHOD OF PAYMENT. The Company will pay interest on the Securities (except defaulted interest) to the Persons
who are registered Holders of Securities at the close of business on the February 1 or August 1 next preceding the Interest Payment Date, even if such Securities are cancelled after such record date and on or before such Interest Payment
Date, except as provided in Section 2.13 of the Indenture with respect to defaulted interest. The Securities will be payable as to principal, premium, if any, and interest at the office or agency of the Company maintained for such purpose
within or without the City of Chicago in the State of Illinois, or, at the option of the Company, payment of interest may be made by check mailed to the Holders at their 

  
 A-2 

 
addresses set forth in the register of Holders; provided that payment by wire transfer of immediately available funds will be required with respect to principal of and interest and
premium, if any, on, all Global Securities and all other Securities the Holders of which will have provided wire transfer instructions to the Company or the Paying Agent. Such payment will be in such coin or currency of the United States of America
as at the time of payment is legal tender for payment of public and private debts. 
 (3) PAYING AGENT AND
REGISTRAR. Initially, Wells Fargo Bank, National Association, the Trustee under the Indenture, will act as Paying Agent and Registrar. The Company may change any Paying Agent or Registrar without notice to any Holder. The Company or any
Affiliate of the Company may act in any such capacity. 
 (4) INDENTURE. The Company issued the Securities
under an Indenture (the “Original Indenture”), dated as of June 2, 2009 (as supplemented by the First Supplemental Indenture, dated as of June 8, 2009, the Second Supplemental Indenture, dated as of May 26, 2010, the Third
Supplemental Indenture, dated as of October 22, 2012, the Fourth Supplemental Indenture, dated as of November 12, 2014 and the Fifth Supplemental Indenture (the “Fifth Supplemental Indenture”), dated as of August 8, 2016,
the “Indenture”) among the Company, the Subsidiary Guarantors party thereto and the Trustee. 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 (the “TIA”). The Third Supplemental Indenture modifies Section 4.10 of the Original Indenture as it applies to the Securities. The Fourth Supplemental Indenture modifies Section 4.07 of the Original Indenture as it applies to
the Securities. The Securities are subject to all such terms, and Holders are referred to the Indenture and the TIA for a statement of such terms. To the extent any provision of this Security conflicts with the express provisions of the Indenture,
the provisions of the Indenture shall govern and be controlling. The Securities are unsecured obligations of the Company. The Indenture does not limit the aggregate principal amount of Securities that may be issued thereunder. 

(5) OPTIONAL REDEMPTION. 

(a) The Company may redeem, in whole at any time or in part from time to time, any Securities, at its option. If the Company
elects to redeem the Securities prior to the Optional Redemption Date, the Company will pay a redemption price equal to the greater of (i) 100% of the principal amount of the Securities to be redeemed and (ii) as determined by the Quotation Agent,
the sum of the present values of the remaining scheduled payments of principal and interest on the Securities to be redeemed (excluding any portion of such payments of interest accrued as of the date of redemption), discounted to the date of
redemption on a semi-annual basis (assuming a 360-day year, consisting of twelve 30-day months) at the Treasury Rate plus 30 basis points, plus, in each case, accrued and unpaid interest thereon to, but not including, the date of redemption. If the
Company elects to redeem the Securities on or after the Optional Redemption Date, the redemption price will equal 100% of the aggregate principal amount of the notes being redeemed, plus accrued and unpaid interest thereon to, but not including, the
date of redemption. 

  
 A-3 

 (b) Unless the Company defaults in payment of the redemption price, on and after
the date of redemption, interest will cease to accrue on the Securities or portions thereof called for redemption. 
 (c) Any
redemption pursuant to Article 3 of the Indenture shall be made pursuant to the provisions of Sections 3.01 through 3.05 of the Indenture. 

(6) REPURCHASE AT THE OPTION OF HOLDER. If there is a Change of Control Repurchase Event, unless the Company has
exercised the option to redeem the Securities by giving notice of such redemption to the Holders thereof, the Company will be required to make an offer (a “Change of Control Offer”) to each Holder to repurchase all or any part
(equal to $2,000 or integral multiples of $1,000 in excess of $2,000) of each Holder’s Securities at a purchase price in cash equal to 101% of the aggregate principal amount thereof plus accrued and unpaid interest thereon to, but not
including, the date of repurchase, subject to the rights of Holders on the relevant record date to receive interest due on the relevant Interest Payment Date (the “Change of Control Payment”). Within 30 days following any Change of
Control Repurchase Event, the Company will mail a notice to each Holder setting forth the procedures governing the Change of Control Offer as required by the Indenture. 

(7) NOTICE OF REDEMPTION. Notice of redemption will be mailed at least 30 days but not more than 60 days before the
redemption date to each Holder whose Securities are to be redeemed at its registered address. Securities in denominations larger than $2,000 may be redeemed in part but only in whole multiples of $1,000, unless all of the Securities held by a Holder
are to be redeemed. 
 (8) DENOMINATIONS, TRANSFER, EXCHANGE. The Securities are in registered form without coupons in
minimum denominations of $2,000 and integral multiples of $1,000 in excess of $2,000. The transfer of Securities may be registered and Securities may be exchanged as provided in the Indenture. The Registrar and the Trustee may require a Holder,
among other things, to furnish appropriate endorsements and transfer documents and the Company may require a Holder to pay any taxes and fees required by law or permitted by the Indenture. The Company need not exchange or register the transfer of
any Security or portion of a Security selected for redemption, except for the unredeemed portion of any Security being redeemed in part. Also, the Company need not exchange or register the transfer of any Securities for a period of 15 days before a
selection of Securities to be redeemed or during the period between a record date and the corresponding Interest Payment Date. 

(9) PERSONS DEEMED OWNERS. The registered Holder of a Security may be treated as its owner for all purposes.

 (10) AMENDMENT, SUPPLEMENT AND WAIVER. Subject to certain exceptions, the Indenture or the Securities or the
Note Guarantees may be amended or supplemented with the consent of the Holders of at least a majority in aggregate principal amount of the then outstanding Securities including additional Securities, if any, voting as a single class, and any
existing Default or Event of Default or compliance 

  
 A-4 

 
with any provision of the Indenture or the Securities or Note Guarantees may be waived with the consent of the Holders of a majority in aggregate principal amount of the then outstanding
Securities including additional Securities, if any, voting as a single class. Without the consent of any Holder of a Security, the Indenture or the Securities or Note Guarantees may be amended or supplemented to correct any mistakes or defects in
the Indenture, but only if such action does not adversely affect the interests of the Holders of the Securities in any material respect or otherwise amend the Indenture in any respect that does not adversely affect the interests of the Holders of
the Securities; to add or change any of the provisions of the Indenture relating to the issuance or exchange of the Securities in registered form, but only if such action does not adversely affect the interests of the Holders of the Securities or
related coupons in any material respect; to provide for the assumption of the Company’s or a Subsidiary Guarantor’s obligations to Holders of the Securities and Note Guarantees by a successor Person; to impose additional covenants and
Events of Default or to add Note Guarantees of other Persons for the benefit of the Holders; to change or eliminate any of the provisions of the Indenture, but only if the change or elimination becomes effective when there are no outstanding
Securities or related coupons, which are entitled to the benefit of such provision and as to which such modification would apply; to secure the Securities; to comply with the requirements of the SEC in order to effect or maintain the qualification
of the Indenture under the TIA; to conform the text of the Indenture, the Securities or the Note Guarantees to any provision of the “Description of the Notes” section of the Company’s Prospectus Supplement dated as of August 3, 2016,
relating to the initial offering of the Securities, to the extent that such provision in that “Description of the Notes” was intended to be a verbatim recitation of a provision of the Indenture, the Note Guarantees or the Securities; to
supplement any of the provisions of the Indenture to permit or facilitate the defeasance and discharge of the Securities, but only if such action does not adversely affect the interests of the Holders of the Securities or related coupons in any
material respect; to establish the form or terms of the Securities or related coupons, as permitted by the Indenture; to evidence and provide for the acceptance of appointment by a successor Trustee and to add to or change any of the provisions of
the Indenture to facilitate the administration of the trusts by more than one Trustee or to allow any Subsidiary Guarantor to execute a supplemental indenture to the Indenture and/or a Note Guarantee with respect to the Securities. 

(11) DEFAULTS AND REMEDIES. Events of Default include: (i) default for 30 days in the payment when due of
interest on the Securities; (ii) default in the payment when due (at maturity, upon redemption or otherwise) of the principal of, or premium, if any, on, the Securities, (iii) failure by the Company or any of its Subsidiaries for 60 days after
notice to the Company by the Trustee or the Holders of at least 25% in aggregate principal amount of the Securities then outstanding voting as a single class to comply with any of the other agreements in the Indenture or the Securities; (iv) default
under certain other agreements relating to Indebtedness for money borrowed by the Company or any of its Subsidiaries, which default is a Payment Default or results in the acceleration of such Indebtedness prior to its express maturity, but only if
the aggregate principal amount of such Indebtedness under which there has been a Payment Default or which has been accelerated is $75 million or more; (v) certain events of bankruptcy or insolvency with respect to the Company or any of its
Subsidiaries that is a Significant Subsidiary or any 

  
 A-5 

 
group of Subsidiaries that, taken together, would constitute a Significant Subsidiary; and (vi) except as permitted by the Indenture, any Note Guarantee is held in any judicial proceeding to be
unenforceable or invalid or ceases for any reason to be in full force and effect or any Subsidiary Guarantor or any Person acting on its behalf denies or disaffirms its obligations under such Subsidiary Guarantor’s Note Guarantee. If any Event
of Default occurs and is continuing, the Trustee or the Holders of at least 25% in aggregate principal amount of the then outstanding Securities may declare all the Securities to be due and payable immediately. Notwithstanding the foregoing, in the
case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Securities will become due and payable immediately without further action or notice. Holders may not enforce the Indenture or the Securities except
as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Securities may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders
of the Securities notice of any continuing Default or Event of Default (except a Default or Event of Default relating to the payment of principal or interest or premium, if any) if it determines that withholding notice is in their interest. The
Holders of a majority in aggregate principal amount of the then outstanding Securities by notice to the Trustee may, on behalf of the Holders of all of the Securities, rescind an acceleration or waive any existing Default or Event of Default and its
consequences under the Indenture except a continuing Default or Event of Default in the payment of interest or premium on, or the principal of, the Securities. The Company is required to deliver to the Trustee annually a statement regarding
compliance with the Indenture, and the Company is required, upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Default. 

(12) TRUSTEE DEALINGS WITH COMPANY. The Trustee, in its individual or any other capacity, may make loans to,
accept deposits from, and perform services for the Company or its Affiliates, and may otherwise deal with the Company or its Affiliates, as if it were not the Trustee. 

(13) NO RECOURSE AGAINST OTHERS. A director, officer, employee, incorporator or stockholder of the Company or any
of the Subsidiary Guarantors, as such, will not have any liability for any obligations of the Company or the Subsidiary Guarantors under the Securities, the Note Guarantees or the Indenture or for any claim based on, in respect of, or by reason of,
such obligations or their creation. Each Holder by accepting a Security waives and releases all such liability. The waiver and release are part of the consideration for the issuance of the Securities. 

(14) AUTHENTICATION. This Security will not be valid until authenticated by the manual signature of the Trustee
or an authenticating agent. 
 (15) ABBREVIATIONS. Customary abbreviations may be used in the name of a Holder
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). 

  
 A-6 

 (16) CUSIP NUMBERS. Pursuant to a recommendation promulgated by the
Committee on Uniform Security Identification Procedures, the Company has caused CUSIP numbers to be printed on the Securities, and the Trustee may use CUSIP numbers in notices of redemption as a convenience to Holders. No representation is made as
to the accuracy of such numbers either as printed on the Securities or as contained in any notice of redemption, and reliance may be placed only on the other identification numbers placed thereon. 

(17) GOVERNING LAW. THE INTERNAL LAW OF THE STATE OF NEW YORK WILL GOVERN AND BE USED TO CONSTRUE THE
INDENTURE, THIS SECURITY AND THE NOTE GUARANTEES WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY. 

(18) THE INDENTURE PROVIDES EACH OF THE COMPANY, THE SUBSIDIARY GUARANTORS, THE TRUSTEE AND EACH HOLDER, BY ITS
ACCEPTANCE OF A NOTE, IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THE INDENTURE OR THE TRANSACTIONS CONTEMPLATED THEREBY. 

The Company will furnish to any Holder upon written request and without charge a copy of the Indenture. Requests may be made to: 

Owens Corning 
 One Owens Corning Parkway 

Toledo, OH 43659 
 Attention: Investor Relations 

  
 A-7 

 ASSIGNMENT FORM 

To assign this Security, fill in the form below: 
  

			
	(1) or (we) assign and transfer this Security to:	 	  

	
	  

	(Insert assignee’s legal name)
	
	  

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

	
	  

	
	  

	
	  

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

			
		
	and irrevocably appoint	 	  

	
	  

	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*:	 	  
	 	

  
  

	*	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). 

  
 A-8 

 Option of Holder to Elect Purchase 

If you want to elect to have this Security purchased by the Company pursuant to Section 2.11 of the Fifth Supplemental Indenture, check the box
below: 
  ̈  Section 2.11 

If you want to elect to have only part of the Security purchased by the Company pursuant to Section 2.11 of the Fifth Supplemental Indenture,
state the amount you elect to have purchased: 

$                     

 

									
	Date:	 	  
	 		 		 	
					
		 		 		 	Your Signature:	 	  

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

  

									
		 		 		 	Tax Identification No.:	 	  

  

					
	Signature Guarantee*:	 	  
	 	

  
  

	*	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). 

  
 A-9 

 SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL SECURITY 

The following exchanges of a part of this Registered Global Security for an interest in another Registered Global Security or for a definitive
Registered Security, or exchanges of a part of another Registered Global Security or definitive Registered Security for an interest in this Registered Global Security, have been made: 

 

																	
	 Date of Exchange
	  	Amount of decrease in
Principal Amount of
this Global Security	 	  	Amount of increase in
Principal Amount of
this Global Security	 	  	Principal Amount of
this Global Security
following such decrease
(or increase)	 	  	Signature of
authorized officer of
Trustee or Custodian	 
		  				  				  				  			
		  				  				  				  			

  
 A-10 

 Exhibit B 

FORM OF NOTATION OF GUARANTEE 

For value received, each Subsidiary Guarantor (which term includes any successor Person under the Indenture) has, jointly and severally,
unconditionally guaranteed, to the extent set forth in the Indenture and subject to the provisions in the Indenture dated as of June 2, 2009 (as supplemented by the First Supplemental Indenture dated as of June 8, 2009, the Second Supplemental
Indenture, dated May 26, 2010, the Third Supplemental Indenture dated October 22, 2012, the Fourth Supplemental Indenture dated November 12, 2014 and the Fifth Supplemental Indenture dated August 8, 2016, the
“Indenture”) among Owens Corning, (the “Company”), the Subsidiary Guarantors party thereto and Wells Fargo Bank, National Association, as trustee (the “Trustee”), (a) the due and punctual payment of
the principal of, premium, if any, and interest on, the Securities when due, whether at maturity, by acceleration or otherwise, the due and punctual payment of interest on overdue principal of and interest on the Securities, if any, if lawful, and
the due and punctual performance of all other obligations of the Company to the Holders or the Trustee all in accordance with the terms of the Indenture and (b) in case of any extension of time of payment or renewal of any Securities or any of such
other obligations, that the same will be promptly paid in full when due or performed in accordance with the terms of the extension or renewal, whether at stated maturity, by acceleration or otherwise. The obligations of the Subsidiary Guarantors to
the Holders of Securities and to the Trustee pursuant to the Note Guarantee and the Indenture are expressly set forth in Article 10 of the Indenture and reference is hereby made to the Indenture for the precise terms of the Note Guarantee. 

Capitalized terms used but not defined herein have the meanings given to them in the Indenture. 

[Remainder of Page Intentionally Left Blank] 

  
 B-1 

 
			
	CDC CORPORATION,
	ENGINEERED PIPE SYSTEMS, INC.,
	ERIC COMPANY,
	IPM INC.,
	OWENS CORNING COMPOSITE MATERIALS, LLC,
	OWENS CORNING CONSTRUCTION SERVICES, LLC,
	OCV INTELLECTUAL CAPITAL, LLC,
	OWENS CORNING FOAM INSULATION, LLC,
	OWENS CORNING FRANCHISING, LLC,
	OWENS-CORNING FUNDING CORPORATION,
	OWENS CORNING HOMEXPERTS, INC.,
	OWENS CORNING HT, INC.,
	OWENS CORNING INSULATING SYSTEMS, LLC,
	OWENS CORNING INTELLECTUAL CAPITAL, LLC,
	OWENS CORNING ROOFING AND ASPHALT, LLC,
	OWENS CORNING SALES, LLC,
	OWENS CORNING SCIENCE AND TECHNOLOGY, LLC,
	OWENS CORNING U.S. HOLDINGS, LLC, and
	SOLTECH, INC.
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 B-2

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00261-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00261-of-00352.parquet"}]]