Document:

Exhibit 10.1

 

FIRST AMENDMENT TO CREDIT AGREEMENT AND LIMITED WAIVER

 

THIS FIRST AMENDMENT TO CREDIT AGREEMENT AND LIMITED WAIVER (this “Amendment and Limited Waiver”), dated as of May 12, 2017, is entered into by and among INVENTURE FOODS, INC., a Delaware corporation (the “Parent Borrower”), the Subsidiaries of the Parent Borrower identified on the signature pages hereof (such Subsidiaries, together with the Parent Borrower, are referred to hereinafter each individually as a “Borrower”, and individually and collectively, jointly and severally, as “Borrowers”), the lenders identified on the signature pages hereof (such lenders, and the other lenders party to the below-defined Credit Agreement, together with their respective successors and permitted assigns, each individually, a “Lender”, and collectively, the “Lenders”), and WELLS FARGO BANK, NATIONAL ASSOCIATION, a national banking association (“Wells Fargo”), as administrative agent for each member of the Lender Group and the Bank Product Providers (in such capacity, together with its successors and assigns in such capacity, the “Agent”), and in light of the following:

 

W I T N E S S E T H

 

WHEREAS, Borrowers, Lenders, Agent, and Wells Fargo, as the sole book runner and as the sole arranger, are parties to that certain Credit Agreement, dated as of November 18, 2015 (as amended, restated, supplemented, or otherwise modified from time to time, the “Credit Agreement”);

 

WHEREAS, Borrowers have informed Agent that an Event of Default identified on Schedule A hereto has occurred and is continuing which constitutes an Event of Default under the Credit Agreement (the “Designated Event of Default”);

 

WHEREAS, the Borrowers, Lenders, and the Agent are parties to that certain Limited Waiver, dated as of March 30, 2017, whereby the Agent and the Lenders agreed to waive the Designated Event of Default until May 15, 2017 (the “Original Deadline”);

 

WHEREAS, the Borrowers have requested that the Agent and the Required Lenders extend the Original Deadline until the date that is the earlier of (a) the occurrence and continuation of a Default or Event of Default other than the Designated Event of Default and (b) July 17, 2017 (the “Audit Deadline”) and continue to provide a limited waiver of the Designated Event of Default;

 

WHEREAS, Agent and the Lenders are willing to extend the Original Deadline to the Audit Deadline provided that certain provisions of the Credit Agreement are amended, subject to the terms and conditions set forth herein; and

 

NOW, THEREFORE, in consideration of the foregoing and the mutual covenants herein contained, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows:

 

1.                                    Defined Terms.  All initially capitalized terms used herein (including the preamble and recitals hereof) without definition shall have the meanings ascribed thereto in the Credit Agreement (including Schedule 1.1 thereto).

 

2.                                    Amendments to Credit Agreement. Subject to the satisfaction (or waiver in writing by Agent) of the conditions precedent set forth in Section 5 hereof, the Credit Agreement shall be amended as follows:

 

 

(a)                               Section 2.4(e)(iii) of the Credit Agreement is hereby amended by amending and restating such Section in its entirety as follows:

 

“(iii)                   [Intentionally Omitted].”

 

(b)                              Section 2.4(f) of the Credit Agreement is hereby amended by amending and restating such Section in its entirety as follows:

 

“(f)                         Application of Payments.  Each prepayment pursuant to Section 2.4(e)(i) and Section 2.4(e)(ii) shall, (A) so long as no Application Event shall have occurred and be continuing, be applied, first, to the outstanding principal amount of the Revolving Loans until paid in full, second, to cash collateralize the Letters of Credit in an amount equal to 105% of then outstanding Letter of Credit Usage, and (B) if an Application Event shall have occurred and be continuing, be applied in the manner set forth in Section 2.4(b)(iii).”

 

(c)                               Section 9.1(c) of the Credit Agreement is hereby amended by deleting the following text therefrom:

 

“; provided, that, with respect to any Event of Default resulting solely from failure of Borrowers to comply with the financial covenant set forth in Section 7, neither Agent nor the Required Lenders may exercise the foregoing remedies in this Section 9.1 until the date that is the earlier of (1) 10 Business Days after the day on which financial statements are required to be delivered for the applicable fiscal month and (2) the date that Agent receives notices that there will not be a Curative Equity contribution made for such fiscal month.”

 

(d)                              Section 9.3 of the Credit Agreement is hereby deleted in its entirety.

 

(e)                               Schedule 1.1 of the Credit Agreement is hereby amended by adding the following definitions in the appropriate alphabetical order:

 

““Audit Deadline” means the date that is the earlier of (a) the occurrence and continuation of a Default or Event of Default other than the Designated Event of Default (as such term is defined in the First Amendment) and (b) July 17, 2017; provided that if Agent elects, in its sole discretion, to extend the Audit Deadline to a later date, the “Audit Deadline” shall be deemed to mean such date the Audit Deadline is extended to.

 

“First Amendment” means that certain First Amendment to Credit Agreement and Limited Waiver, dated as of the First Amendment Effective Date, by and among the Borrowers, Lenders, and Agent.

 

“First Amendment Effective Date” means May 12, 2017.

 

“Summary Borrowing Base Certificate” means a certificate in the form of Exhibit B-3 hereto.”

 

(f)                                Schedule 1.1 of the Credit Agreement is hereby amended by amending and restating the definition of “Applicable Margin” in its entirety as follows:

 

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““Applicable Margin” means, as of any date of determination and with respect to Base Rate Loans or LIBOR Rate Loans, as applicable, the applicable margin set forth in the following table that corresponds to the Average Excess Availability of Borrowers for the most recently completed fiscal month; provided, that for the period from May 1, 2017 through May 31, 2017, the Applicable Margin shall be set at the margin in the row styled “III”; provided further that any time an Event of Default has occurred and is continuing, the Applicable Margin shall be set at the margin in the row styled “Level III”:

 

	
Level
    	
Average   Excess 
   Availability
    	
Applicable   Margin Relative to 
   Base Rate Loans (the “Base 
   Rate Margin”)
    	
Applicable   Margin 
   Relative to LIBOR Rate
   Loans (the “LIBOR Rate
   Margin”)

 
    
	
I
    	
Greater   than or equal to $33,000,000

 
    	
1.50   percentage points
    	
2.50   percentage points
    
	
II
    	
Less   than $33,000,000 and greater than or equal to $16,000,000

 
    	
1.75   percentage points
    	
2.75   percentage points
    
	
III
    	
Less   than $16,000,000

 
    	
2.00   percentage points
    	
3.00   percentage points
    

 

The Applicable Margin shall be re-determined as of the first day of each fiscal month of Borrowers.”

 

(g)                               Schedule 1.1 of the Credit Agreement is hereby amended by deleting the following defined terms therefrom: “Curative Equity” and “Specified Financial Covenant”.

 

(h)                              Schedule 1.1 of the Credit Agreement is hereby amended by adding the following sentence immediately following the last sentence in the definition of “Borrowing Base”:

 

“Notwithstanding anything herein to the contrary, from the period from July 15, 2016 until the Audit Deadline, the Borrowing Base shall be calculated pursuant to clause (b) of the definition of “Borrowing Base”, as though such period occurred during the Off-Season.”

 

(i)                                  Schedule 5.1 of the Credit Agreement is hereby amended by deleting such Schedule in its entirety and replacing it with Schedule 5.1 attached hereto.

 

(j)                                  Schedule 5.2 of the Credit Agreement is hereby amended by deleting such Schedule in its entirety and replacing it with Schedule 5.2 attached hereto.

 

(k)                              Exhibit B-3 of the Credit Agreement is hereby added by adding Exhibit B-3 Form of Summary Borrowing Base Certificate attached hereto.

 

3.                                    Waiver of Designated Event of Default.  Notwithstanding the provisions of the Credit Agreement to the contrary, subject to the satisfaction of the conditions precedent in Section 5 hereof, the Agent and the Lenders hereby agree to waive the Designated Event of Default until the Audit Deadline.  On the date constituting the Audit Deadline, the Designated Event of Default will be reinstated as if the waiver set forth above had never been provided and failure of the Parent Borrower to be in compliance on such date with the No Qualification Requirement (as defined on Schedule A) shall constitute an immediate Event of Default.

 

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4.                                    Effectiveness of Amendment and Limited Waiver.  This Amendment and Limited Waiver shall be effective only to the extent specially set forth herein and shall not (a) be construed as a waiver of any breach, Default or Event of Default other than as specifically waived herein nor as a waiver of any breach, Default or Event of Default of which the Agent and the Lenders have not been informed by the Borrowers, (b) affect the right of the Agent and the Lenders to demand compliance by the Borrowers with all terms and conditions of the Loan Documents, except as specifically modified or waived by this Amendment and Limited Waiver, (c) be deemed a waiver of any transaction or future action on the part of the Borrowers requiring the Agent’s or the Lenders’ consent or approval under the Loan Documents, or (d)  except as waived hereby, be deemed or construed to be a waiver or release of, or a limitation upon, the Agent’s or any Lenders’ exercise of any rights or remedies under the Credit Agreement or any other Loan Document, whether arising as a consequence of any Default or Event of Default (other than the Designated Event of Default) which may now exist or otherwise, all such rights and remedies hereby being expressly reserved.  Except as expressly provided herein, Agent and each Lender hereby reserves and preserves all of its rights and remedies against the Borrowers and any Guarantor under the Credit Agreement and the other Loan Documents, at law (including under the Code), in equity, or otherwise including, without limitation, the right to declare all Obligations immediately due and payable pursuant to Section 9.1 of the Credit Agreement.

 

5.                                    Conditions Precedent to Amendment and Limited Waiver.  The satisfaction (or waiver in writing by Agent) of each of the following shall constitute conditions precedent to the effectiveness of the Amendment and Limited Waiver (such date being the “Amendment Effective Date”):

 

(a)                               The Amendment Effective Date shall occur on or prior to May 12, 2017.

 

(b)                              Agent shall have received this Amendment and Limited Waiver, duly executed by the parties hereto, and the same shall be in full force and effect.

 

(c)                               Agent shall have received a limited waiver duly executed by each of the Loan Parties, the Required Lenders (as defined in the Term Loan Credit Agreement) and the Term Loan Agent in substantially the form attached as Exhibit A hereto (the “Term Loan Waiver”).

 

(d)                              After giving effect to this Amendment and Limited Waiver, the representations and warranties contained herein, in the Credit Agreement, and in the other Loan Documents, in each case shall be true and correct in all material respects (except that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof) on and as of the date hereof, as though made on and as of such date (except to the extent that such representations and warranties relate solely to an earlier date, in which case such representations and warranties shall continue to be true and correct in all material respects (except that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof) as of such earlier date).

 

(e)                               No injunction, writ, restraining order, or other order of any nature prohibiting, directly or indirectly, the consummation of the transactions contemplated herein shall have been issued and remain in force by any Governmental Authority against any Borrower, any Guarantor, Agent, any other member of the Lender Group, or any Bank Product Provider.

 

(f)                                No Default or Event of Default shall have occurred and be continuing as of the Amendment Effective Date, nor shall either result from the consummation of the transactions contemplated herein.

 

(g)                               Borrowers shall pay concurrently with the closing of the transactions evidenced by this Amendment and Limited Waiver all fees, costs, expenses, and taxes then payable pursuant to the Credit Agreement and Section 8 hereof.

 

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(h)                              Agent shall have received, in immediately available funds, the Amendment Fee referred to in Section 9 hereof.

 

(i)                                  Borrowers shall not have paid, nor shall they have agreed to pay, to Term Loan Agent any fees or expenses in connection with Term Loan Waiver, other than (a) reasonable, out-of-pocket fees of legal counsel to Term Loan Agent, and (b) the Third Amendment Fee (as such term is defined in the Term Loan Waiver) which may become due in connection with a prepayment of the Term Loan Obligations.

 

(j)                                  All other documents and legal matters in connection with the transactions contemplated by this Amendment and Limited Waver shall have been delivered, executed, or recorded and shall be in form and substance reasonably satisfactory to Agent.

 

6.                                    Conditions Subsequent.  Each Borrower hereby covenants and agrees that no later than May 15, 2017, Borrowers will deliver to Agent projections for the 13 week period commencing May 15, 2017, including sales projections, projected Borrowing Base calculations, and projected accounts payable, which projections shall be in form and substance reasonably satisfactory to Agent (the “Updated Projections”). The failure to comply with the covenant set forth in this Section 6 on or before the date specified herein shall constitute an immediate Event of Default.

 

7.                                    Representations and Warranties. Each Borrower hereby represents and warrants to Agent and each other member of the Lender Group as follows:

 

(a)                               It (i) is duly organized and existing and in good standing under the laws of the jurisdiction of its organization, (ii) is qualified to do business in any state where the failure to be so qualified could reasonably be expected to result in a Material Adverse Effect, and (iii) has all requisite power and authority to own and operate its properties, to carry on its business as now conducted and as proposed to be conducted, to enter into this Amendment and Limited Waiver and the other Loan Documents to which it is a party and to carry out the transactions contemplated hereby and thereby.

 

(b)                              The execution, delivery, and performance by it of this Amendment and Limited Waiver and the performance by it of the Loan Documents to which it is or will be a party (i) have been duly authorized by all necessary action, (ii) do not and will not (A) violate the Governing Documents of any Loan Party or its Subsidiaries, (B) violate any order, judgment, or decree of any court or other Governmental Authority binding on any Loan Party or its Subsidiaries or violate any provision of federal, state, or local law or regulation applicable to any Loan Party or its Subsidiaries, which violation could individually or in the aggregate reasonably be expected to result in a Material Adverse Effect, (C) conflict with, result in a breach of, or constitute (with due notice or lapse of time or both) a default under any material agreement of any Loan Party or its Subsidiaries where any such conflict, breach or default could individually or in the aggregate reasonably be expected to have a Material Adverse Effect, (D) result in or require the creation or imposition of any Lien or any nature whatsoever upon nay assets of any Loan Party, other than Permitted Liens, or require any approval of any holder of Equity Interests of a Loan Party or any approval or consent of any Person under any material agreement of any Loan Party, other than consents or approvals that have been obtained and that are still in force and effect and except, in the case of material agreements, for consents or approvals, the failure to obtain could not individually or in the aggregate reasonably be expected to cause a Material Adverse Effect.

 

(c)                               The execution, delivery, and performance of this Amendment and Limited Waiver does not and will not require any registration with, consent, or approval of, or notice to, or other action with or by, any Governmental Authority, other than (a) filings and recordings with respect to the Collateral to be made, or otherwise delivered to Agent for filing or recordation, as of the date hereof and (b) registrations, consents, approvals, notices, or other actions (i) that have been obtained and that are still in force and effect or (ii) the failure of which to be obtained or made could not reasonably be expected to have a Material Adverse Effect.

 

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(d)                              This Amendment and Limited Waiver is, and each other Loan Document to which it is or will be a party, when executed and delivered by each Person that is a party thereto, will be the legally valid and binding obligation of such Person, enforceable against such Person in accordance with its respective terms, except as enforcement may be limited by equitable principles or by bankruptcy, insolvency, reorganization, moratorium or similar laws relating to or limiting creditors’ rights generally.

 

(e)                               No injunction, writ, restraining order, or other order of any nature prohibiting, directly or indirectly, the consummation of the transactions contemplated herein has been issued and remains in force by any Governmental Authority against any Borrower, Agent, any member of the Lender Group, or any Bank Product Provider.

 

(f)                                No Default or Event of Default has occurred and is continuing as of the date of the effectiveness of this Amendment and Limited Waiver, and no condition exists which constitutes a Default or an Event of Default.

 

(g)                               The representations and warranties set forth in this Amendment and Limited Waiver, the Credit Agreement, and the other Loan Documents to which it is a party are true and correct in all material respects (except that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof) on and as of the date hereof, as though made on and as of such date (except to the extent that such representations and warranties relate solely to an earlier date, in which case such representations and warranties shall continue to be true and correct in all material respects (except that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof) as of such earlier date).

 

(h)                              This Amendment and Limited Waiver has been entered into without force or duress, of the free will of each Borrower, and the decision of each Borrower to enter into this Amendment and Limited Waiver is a fully informed decision and such Person is aware of all legal and other ramifications of each decision.

 

(i)                                  It has read and understands this Amendment and Limited Waiver, has consulted with and been represented by independent legal counsel of its own choosing in negotiations for and the preparation of this Amendment and Limited Waiver, has read this Amendment and Limited Waiver in full and final form, and has been advised by its counsel of its rights and obligations hereunder.

 

(j)                                  No Loan Party has paid to Term Loan Agent any fees and expenses in connection with the Term Loan Waiver other than the reasonable, out-of-pocket fees and expenses of legal counsel to Term Loan Agent.

 

8.                                    Payment of Costs and Fees.  Borrowers shall pay to Agent and each Lender all Lender Group Expenses (including, without limitation, the reasonable fees and expenses of any attorneys retained by Agent or any Lender) in connection with the preparation, negotiation, execution and delivery of this Amendment and Limited Waiver and any documents and instruments relating hereto.

 

9.                                    Amendment Fee.  On or before the date hereof, Borrowers shall pay to Agent an amendment fee in the amount of $50,000 (“Amendment Fee”) in immediately available funds, which Amendment Fee shall be retained by Agent (solely for its account and for the account of its Affiliates that are Lenders, but not for the account of any other Lender).  Such Amendment Fee shall be fully earned and non-refundable on the date hereof.

 

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10.                            Release.

 

(a)                               Effective on the date hereof, each Borrower, for itself and on behalf of its successors, assigns, and officers, directors, employees, agents and attorneys, and any Person acting for or on behalf of, or claiming through it, hereby waives, releases, remises and forever discharges Agent and each Lender, each of their respective Affiliates, and each of their respective successors in title, past, present and future officers, directors, employees, limited partners, general partners, investors, attorneys, assigns, subsidiaries, shareholders, trustees, agents and other professionals and all other persons and entities to whom any member of the Lenders would be liable if such persons or entities were found to be liable to such Borrower (each a “Releasee” and collectively, the “Releasees”), from any and all past, present and future claims, suits, liens, lawsuits, adverse consequences, amounts paid in settlement, debts, deficiencies, diminution in value, disbursements, demands, obligations, liabilities, causes of action, damages, losses, costs and expenses of any kind or character,  whether based in equity, law, contract, tort, implied or express warranty, strict liability, criminal or civil statute or common law (each a “Claim” and collectively, the “Claims”), whether known or unknown, fixed or contingent, direct, indirect, or derivative, asserted or unasserted, matured or unmatured, foreseen or unforeseen, past or present, liquidated or unliquidated, suspected or unsuspected, which such Borrower ever had from the beginning of the world, now has, or might hereafter have against any such Releasee which relates, directly or indirectly to the Credit Agreement, any other Loan Document, or to any acts or omissions of any such Releasee with respect to the Credit Agreement or any other Loan Document, or to the lender-borrower relationship evidenced by the Loan Documents, except for the duties and obligations set forth in this Amendment and Limited Waiver.  As to each and every Claim released hereunder, each Borrower hereby represents that it has received the advice of legal counsel with regard to the releases contained herein, and having been so advised, specifically waives the benefit of the provisions of Section 1542 of the Civil Code of California which provides as follows:

 

“A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR.”

 

As to each and every Claim released hereunder, each Borrower also waives the benefit of each other similar provision of applicable federal or state law (including without limitation the laws of the state of California), if any, pertaining to general releases after having been advised by its legal counsel with respect thereto.

 

Each Borrower acknowledges that it may hereafter discover facts different from or in addition to those now known or believed to be true with respect to such Claims and agrees that this instrument shall be and remain effective in all respects notwithstanding any such differences or additional facts.  Each Borrower understands, acknowledges and agrees that the release set forth above may be pleaded as a full and complete defense and may be used as a basis for an injunction against any action, suit or other proceeding which may be instituted, prosecuted or attempted in breach of the provisions of such release.

 

(b)                              Each Borrower, for itself and on behalf of its successors, assigns, and officers, directors, employees, agents and attorneys, and any Person acting for or on behalf of, or claiming through it, hereby absolutely, unconditionally and irrevocably, covenants and agrees with and in favor of each Releasee above that it will not sue (at law, in equity, in any regulatory proceeding or otherwise) any

 

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Releasee on the basis of any Claim released, remised and discharged by such Person pursuant to the above release.  Each Borrower further agrees that it shall not dispute the validity or enforceability of the Credit Agreement or any of the other Loan Documents or any of its obligations thereunder, or the validity, priority, enforceability or the extent of Agent’s Lien on any item of Collateral under the Credit Agreement or the other Loan Documents.  If any Borrower, or any of their respective successors, assigns, or officers, directors, employees, agents or attorneys, or any Person acting for or on behalf of, or claiming through it violate the foregoing covenant, such Person, for itself and its successors, assigns and legal representatives, agrees to pay, in addition to such other damages as any Releasee may sustain as a result of such violation, all attorneys’ fees and costs incurred by such Releasee as a result of such violation.

 

11.                            CHOICE OF LAW AND VENUE; JURY TRIAL WAIVER; JUDICIAL REFERENCE PROVISION.  THIS AMENDMENT AND LIMITED WAIVER SHALL BE SUBJECT TO THE PROVISIONS REGARDING CHOICE OF LAW AND VENUE, JURY TRIAL WAIVER AND JUDICIAL REFERENCE PROVISION SET FORTH IN SECTION 12 OF THE CREDIT AGREEMENT, AND SUCH PROVISIONS ARE INCORPORATED HEREIN BY THIS REFERENCE, MUTATIS MUTANDIS.

 

12.                            Amendments.   This Amendment and Limited Waiver cannot be altered, amended, changed or modified in any respect except in accordance with Section 14.1 of the Credit Agreement.

 

13.                            Counterpart Execution.  This Amendment and Limited Waiver may be executed in any number of counterparts and by different parties on separate counterparts, each of which, when executed and delivered, shall be deemed to be an original, and all of which, when taken together, shall constitute but one and the same Amendment and Limited Waiver.  Delivery of an executed counterpart of this Amendment and Limited Waiver by telefacsimile or other electronic method of transmission shall be equally as effective as delivery of an original executed counterpart of this Amendment and Limited Waiver.  Any party delivering an executed counterpart of this Amendment and Limited Waiver by telefacsimile or other electronic method of transmission also shall deliver an original executed counterpart of this Amendment and Limited Waiver, but the failure to deliver an original executed counterpart shall not affect the validity, enforceability, and binding effect of this Amendment and Limited Waiver.

 

14.                            Effect on Loan Documents.

 

(a)                               The Credit Agreement and each of the other Loan Documents shall be and remain in full force and effect in accordance with their respective terms and hereby are ratified and confirmed in all respects.  The execution, delivery, and performance of this Amendment and Limited Waiver shall not operate, except as expressly set forth herein, as a modification or waiver of any right, power, or remedy of Agent or any Lender under the Credit Agreement or any other Loan Document.  The Credit Agreement and the other Loan Documents shall remain unchanged and in full force and effect.  The waivers, consents and modifications set forth herein are limited to the specifics hereof (including facts or occurrences on which the same are based), shall not apply with respect to any facts or occurrences other than those on which the same are based, shall neither excuse any future non-compliance with the Loan Documents nor operate as a waiver of any Default or Event of Default (other than the Designated Event of Default), shall not operate as a consent to any further waiver, consent or amendment or other matter under the Loan Documents, and shall not be construed as an indication that any future waiver or amendment of covenants or any other provision of the Credit Agreement will be agreed to, it being understood that the granting or denying of any waiver or amendment which may hereafter be requested by Borrowers remains in the sole and absolute discretion of Agent and Lenders.  To the extent that any terms or provisions of this Amendment and Limited Waiver conflict with those of the Credit Agreement or the other Loan Documents, the terms and provisions of this Amendment and Limited Waiver shall control.

 

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(b)                              Upon and after the effectiveness of this Amendment and Limited Waiver, each reference in the Credit Agreement to “this Agreement”, “hereunder”, “herein”, “hereof” or words of like import referring to the Credit Agreement, and each reference in the other Loan Documents to “the Credit Agreement”, “thereunder”, “therein”, “thereof” or words of like import referring to the Credit Agreement, shall mean and be a reference to the Credit Agreement as modified and amended hereby.

 

(c)                               To the extent that any of the terms and conditions in any of the Loan Documents shall contradict or be in conflict with any of the terms or conditions of the Credit Agreement, after giving effect to this Amendment and Limited Waiver, such terms and conditions are hereby deemed modified or amended accordingly to reflect the terms and conditions of the Credit Agreement as modified or amended hereby.

 

(d)                              This Amendment and Limited Waiver is a Loan Document.

 

(e)                               Unless the context of this Amendment and Limited Waiver clearly requires otherwise, references to the plural include the singular, references to the singular include the plural, the terms “includes” and “including” are not limiting, and the term “or” has, except where otherwise indicated, the inclusive meaning represented by the phrase “and/or”.  The words “hereof,” “herein,” “hereby,” “hereunder,” and similar terms in this Amendment and Limited Waiver refer to this Amendment and Limited Waiver as a whole and not to any particular provision of this Amendment and Limited Waiver.  Section, subsection, clause, schedule, and exhibit references herein are to this Amendment and Limited Waiver unless otherwise specified.  Any reference in this Amendment and Limited Waiver to any agreement, instrument, or document shall include all alterations, amendments, changes, extensions, modifications, renewals, replacements, substitutions, joinders, and supplements, thereto and thereof, as applicable (subject to any restrictions on such alterations, amendments, changes, extensions, modifications, renewals, replacements, substitutions, joinders, and supplements set forth herein).  The words “asset” and “property” shall be construed to have the same meaning and effect and to refer to any and all tangible and intangible assets and properties.  Any reference herein to the satisfaction, repayment, or payment in full of the Obligations shall mean (a) the payment or repayment in full in immediately available funds of (i) the principal amount of, and interest accrued and unpaid with respect to, all outstanding Loans, together with the payment of any premium applicable to the repayment of the Loans, (ii) all Lender Group Expenses that have accrued and are unpaid regardless of whether demand has been made therefor, (iii) all fees or charges that have accrued hereunder, under the Credit Agreement, or under any other Loan Document (including the Letter of Credit Fee and the Unused Line Fee) and are unpaid, (b) in the case of contingent reimbursement obligations with respect to Letters of Credit, providing Letter of Credit Collateralization, (c) in the case of obligations with respect to Bank Products (other than Hedge Obligations), providing Bank Product Collateralization, (d) the receipt by Agent of cash collateral in order to secure any other contingent Obligations for which a claim or demand for payment has been made on or prior to such time or in respect of matters or circumstances known to Agent or a Lender at such time that are reasonably expected to result in any loss, cost, damage, or expense (including attorneys’ fees and legal expenses), such cash collateral to be in such amount as Agent reasonably determines is appropriate to secure such contingent Obligations, the payment or repayment in full in immediately available funds of all other outstanding Obligations (including the payment of any termination amount then applicable (or which would or could become applicable as a result of the repayment of the other Obligations) under Hedge Agreements provided by Hedge Providers) other than (i) unasserted contingent indemnification Obligations, (ii) any Bank Product Obligations (other than Hedge Obligations) that, at such time, are allowed by the applicable Bank Product Provider to remain outstanding without being required to be repaid or cash collateralized, and (iii) any Hedge Obligations that, at such time, are allowed by the applicable Hedge Provider to remain outstanding without being required to be repaid, and (f) the termination of all of the Commitments of the Lenders.  Any reference herein to any Person shall be construed to include such Person’s successors and assigns.  Any requirement of a writing contained herein shall be satisfied by the transmission of a Record.

 

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15.                            Entire Agreement.  This Amendment and Limited Waiver, and the terms and provisions hereof, the Credit Agreement and the other Loan Documents constitute the entire understanding and agreement between the parties hereto with respect to the subject matter hereof and supersede any and all prior or contemporaneous amendments or understandings with respect to the subject matter hereof, whether express or implied, oral or written.

 

16.                            Integration.  This Amendment and Limited Waiver, together with the other Loan Documents, incorporates all negotiations of the parties hereto with respect to the subject matter hereof and is the final expression and agreement of the parties hereto with respect to the subject matter hereof.

 

17.                            Reaffirmation of Obligations.  Each Borrower hereby (a) acknowledges and reaffirms its obligations owing to Agent, each member of the Lender Group, and the Bank Product Providers under each Loan Document to which it is a party, and (b) agrees that each of the Loan Documents to which it is a party is and shall remain in full force and effect.  Each Borrower hereby (i) further ratifies and reaffirms the validity and enforceability of all of the Liens and security interests heretofore granted, pursuant to and in connection with the Guaranty and Security Agreement or any other Loan Document to Agent, on behalf and for the benefit of each member of the Lender Group and each Bank Product Provider, as collateral security for the obligations under the Loan Documents in accordance with their respective terms, and (ii) acknowledges that all of such Liens and security interests, and all Collateral heretofore pledged as security for such obligations, continue to be and remain collateral for such obligations from and after the date hereof (including, without limitation, from after giving effect to this Amendment and Limited Waiver).

 

18.                            Ratification.  Each Borrower hereby restates, ratifies and reaffirms each and every term and condition set forth in the Credit Agreement and the Loan Documents effective as of the date hereof and as modified hereby.

 

19.                            Seve1rability.  In case any provision in this Amendment and Limited Waiver shall be invalid, illegal or unenforceable, such provision shall be severable from the remainder of this Amendment and Limited Waiver and the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby.

 

[Signature pages follow]

 

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IN WITNESS WHEREOF, the parties have entered into this Amendment and Limited Waiver as of the date first above written.

 

	
 
    	
“Borrowers”
    
	
 
    	
 
    
	
 
    	
INVENTURE   FOODS, INC., a Delaware Corporation
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    	
 /s/ Steve Weinberger
    
	
 
    	
Name:
    	
 Steve Weinberger
    
	
 
    	
Title:
    	
 
    	
 CFO
    
	
 
    	
 
    
	
 
    	
RADER   FARMS, INC., a Delaware corporation
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    	
 /s/ Steve Weinberger
    
	
 
    	
Name:
    	
 Steve Weinberger
    
	
 
    	
Title:
    	
 
    	
 CFO
    
	
 
    	
 
    
	
 
    	
INVENTURE—GA   f/k/a FRESH FROZEN FOODS, INC., a Delaware corporation
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    	
 /s/ Steve Weinberger
    
	
 
    	
Name:
    	
 Steve Weinberger
    
	
 
    	
Title:
    	
 
    	
 CFO
    
	
 
    	
 
    
	
 
    	
WILLIAMETTE   VALLEY FRUIT COMPANY, a Delaware corporation
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    	
 /s/ Steve Weinberger
    
	
 
    	
Name:
    	
 Steve Weinberger
    
	
 
    	
Title:
    	
 
    	
 CFO
    
	
 
    	
 
    
	
 
    	
POORE   BROTHERS-BLUFFTON, LLC, a Delaware limited liability company
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    	
 /s/ Steve Weinberger
    
	
 
    	
Name:
    	
 Steve Weinberger
    
	
 
    	
Title:
    	
 
    	
 CFO
    
	
 
    	
 
    
	
 
    	
BOULDER   NATURAL FOODS, INC., an Arizona corporation
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    	
 /s/ Steve Weinberger
    
	
 
    	
Name:
    	
 Steve Weinberger
    
	
 
    	
Title:
    	
 
    	
 CFO
    
					

 

[SIGNATURE PAGE TO AMENDMENT AND LIMITED WAIVER]

 

 

	
 
    	
TEJAS   PB DISTRIBUTING, INC., an Arizona corporation
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    	
 /s/ Steve Weinberger
    
	
 
    	
Name:
    	
 Steve Weinberger
    
	
 
    	
Title:
    	
 
    	
 CFO
    
	
 
    	
 
    
	
 
    	
LA   COMETA PROPERTIES, INC., an Arizona corporation
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    	
 /s/ Steve Weinberger
    
	
 
    	
Name:
    	
 Steve Weinberger
    
	
 
    	
Title:
    	
 
    	
 CFO
    
	
 
    	
 
    
	
 
    	
BN   FOODS, INC., a Colorado corporation
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    	
 /s/ Steve Weinberger
    
	
 
    	
Name:
    	
 Steve Weinberger
    
	
 
    	
Title:
    	
 
    	
 CFO
    
					

 

[SIGNATURE PAGE TO AMENDMENT AND LIMITED WAIVER]

 

 

	
 
    	
“Agent” and “Lender”
    
	
 
    	
 
    
	
 
    	
WELLS FARGO BANK,   NATIONAL ASSOCIATION, a national banking association
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    	
 /s/ Howard Handman
    
	
 
    	
Name:
    	
 Howard Handman
    
	
 
    	
Title:
    	
 
    	
 Authorized Signatory
    
					

 

[SIGNATURE PAGE TO AMENDMENT AND LIMITED WAIVER]

 

 

SCHEDULE A

 

DESIGNATED EVENT OF DEFAULT

 

 

Default under Section 8.2 – Parent Borrower has informed the Agent and the Lenders that (i) the audited financial statements of Parent Borrower and its Subsidiaries for the fiscal year ended December 31, 2016 will be certified by the Parent Borrower’s auditor with a “going concern” qualification as a result of a prospective financial covenant default under the Term Loan Credit Agreement and (ii) the Parent Borrower and the other Loan Parties will not be able to comply with the no “going concern” covenant contained in Schedule 5.1(j) of Section 5.1 (the “No Qualification Requirement”) of the Credit Agreement for the fiscal year ended December 31, 2016 solely because of the certification delivered by Parent Borrower’s auditor with respect to Parent Borrower’s financial statements for the fiscal year ended December 31, 2016 containing a “going concern” qualification solely as a result of a prospective financial covenant default under the Term Loan Credit Agreement.

 

 

Schedule 5.1

 

Financial Statements, Reports, Certificates

 

Deliver to Agent (and if so requested by Agent, with copies for each Lender) each of the financial statements, reports, or other items set forth below at the following times in form satisfactory to Agent:

 

	
 

as soon as available, but in any event within 30 days (45 days in the   case of a month that is the end of one of Parent Borrower’s fiscal quarters)   after the end of each month during each of Borrower’s fiscal years,

 
    	
 

an   unaudited consolidated and consolidating balance sheet, income statement,   statement of cash flow and statement of shareholder’s equity covering Parent   Borrower’s and its Subsidiaries’ operations during such period and compared   to the prior period and plan, together with a corresponding discussion and   analysis of results from management,

 

(a)                                    a Compliance Certificate   along with the underlying calculations, including the calculations to arrive   at EBITDA to the extent applicable,

 

(b)                                   a calculation of the Fixed   Charge Coverage Ratio that is required to be delivered under the Agreement,   and

 

(c)                                    any compliance certificate   delivered under the Term Loan Credit Agreement.

 
    
	
 

as soon as available, but in any event within 45 days after the end   of each quarter during each of Borrower’s fiscal years,

 
    	
 

(d)                                   an unaudited consolidated   and consolidating balance sheet, income statement, statement of cash flow and   statement of shareholder’s equity covering Parent Borrower’s and its   Subsidiaries’ operations during such period and compared to the prior period   and plan, prepared in accordance with GAAP as well as on an   internally-determined “mark to market” basis, together with a corresponding   discussion and analysis of results from management,

 

(e)                                    a certification of   compliance with all applicable United States Department of Agriculture and   the Food and Drug Administration rules and policies and rules and   policies of any other Governmental Authority relating to Food Security Laws, including,   if requested by Agent, a third-party expert certification audit or Food and   Drug Administration inspection of the Loan Parties quality system. 

 
    
	
 

as soon as available, but in any event within 90 days after the end   of each of Parent Borrower’s fiscal years,

 
    	
 

(f)                                     consolidated and   consolidating financial statements of Parent Borrower and its Subsidiaries   for each such fiscal year, audited by independent certified public   accountants reasonably acceptable to Agent and certified, without any   qualifications (including any (A) “going concern” or like qualification   or exception, (B) qualification or exception as to the scope of such   audit, or (C) qualification which relates to the treatment or   classification of any item and which, as a condition to the removal of such   qualification, would require an adjustment to such item, the effect of which   would be to cause any noncompliance with Article 7 of the   Agreement (other than any qualification or exception attributable solely to   the occurrence of the stated maturity of any Revolving Loans   within 12 months after the date of such opinion)), by such   accountants to have been prepared in accordance with GAAP (such audited   financial statements to include a balance 
    

 

 

	
 
    	
 
    
	
   
    	
 

sheet, income statement, statement of cash flow, and statement of   shareholder’s equity, and, if prepared, such accountants’ letter to   management), as well as on an internally-determined “mark-to-market” basis,

 

(g)                                    a Compliance Certificate   along with the underlying calculations, including the calculations to arrive   at EBITDA to the extent applicable,

 

(h)                                   a calculation of the Fixed   Charge Coverage Ratio that is required to be delivered under the Agreement,   and

 

(i)                                  any compliance certificate   delivered under the Term Loan Credit Agreement.

 
    
	
 

as soon as available, but in any event within 15 days after the start   of each of Parent Borrower’s fiscal years,    
    	
 

(j)                                       copies of Parent   Borrower’s Projections, in form and substance (including as to scope and   underlying assumptions) satisfactory to Agent, in its Permitted Discretion,   for the forthcoming 3 years, certified by the chief financial officer of   Parent Borrower as being such officer’s good faith estimate of the financial   performance of Parent Borrower during the period covered thereby.
    
	
 

if and when filed by Parent Borrower,
    	
 

(k)                                   Form 10-Q quarterly   reports, Form 10-K annual reports, and Form 8-K current reports (if   any when requested by Agent),

 

(l)                                       any other filings made by   Parent Borrower with the SEC, and

 

(m)                               any other information that   is provided by Parent Borrower to its shareholders generally.

 
    
	
promptly, but in any event within 5 days after Borrower has knowledge   of any event or condition that constitutes a Default or an Event of Default, 
    	
(n)                                   notice of such event or   condition and a statement of the curative action that Borrower proposes to   take with respect thereto.
    
	
promptly after the commencement thereof, but in any event within 5   days after the service of process with respect thereto on Parent Borrower or   any of its Subsidiaries,
    	
(o)                                   notice of all actions,   suits, or proceedings brought by or against Parent Borrower or any of its   Subsidiaries before any Governmental Authority which reasonably could be   expected to result in a Material Adverse Effect. 
    
	
 

upon the request of Agent,

 
    	
 

(t)     any other information reasonably   requested relating to the financial condition of Parent Borrower or its   Subsidiaries.

 
    

 

 

Schedule 5.2

 

Collateral Reporting

 

Provide Agent (and if so requested by Agent, with copies for each Lender) with each of the documents set forth below at the following times in form satisfactory to Agent:

 

	
 
    	
 
    
	
Weekly   (no later than the Wednesday of the following week)
    	
(a)                               an executed   Summary Borrowing Base Certificate,

 

(b)                              a detailed   aging, by total, of each Borrowers’ Accounts, together with a reconciliation   and supporting documentation for any reconciling items noted (delivered   electronically in an acceptable format),

 

(c)                               Inventory   system/perpetual reports specifying the cost and the wholesale market value   of each Borrowers’ inventory, raw materials and farm products, by category,   with additional detail showing additions to and deletions therefrom, together   with a reconciliation to Borrowers’ general ledger (delivered electronically   in an acceptable format).

 
    
	
Monthly   (no later than the 15th day of each month) 
    	
(d)                              an executed   Borrowing Base Certificate,

 

(e)                               a detailed   aging, by total, of each Borrowers’ Accounts, together with a reconciliation   and supporting documentation for any reconciling items noted (delivered   electronically in an acceptable format),

 

(f)                                a monthly   Account roll-forward, in a format acceptable to Agent in its discretion, tied   to the beginning and ending account receivable balances of Borrowers’ general   ledger,

 

(g)                               notice of all   claims, offsets, or disputes asserted by Account Debtors with respect to each   Borrower’s Accounts,

 

(h)                              Inventory   system/perpetual reports specifying the cost and the wholesale market value   of each Borrowers’ inventory, raw materials and farm products, by category,   with additional detail showing additions to and deletions therefrom, together   with a reconciliation to Borrowers’ general ledger (delivered electronically   in an acceptable format),

 

(i)                                  a detailed   calculation of inventory, raw materials and farm products categories that are   not eligible for the Borrowing Base, if Borrowers have not implemented   electronic reporting,

 

(j)                                  royalty   reserve report for related royalties paid,

 

(k)                              any Food   Products Notices received by any Loan Party or their respective Subsidiaries,

 

(l)                                  a summary   aging, by vendor, of each Loan Party’s accounts payable and any book   overdraft (delivered electronically in an acceptable format) and 

 
    

 

 

	
 
    	
 
    
	
    
    	
an aging, by vendor, of   any held checks, and a detailed accrued liabilities report identifying any   Food Products Payables per general ledger accounts 2002161, 200217 and 200218, and   any other (x) related report necessary to calculate Foods Products   Payables and (y) accounts payable listing of Food Products Payables,

 

(m)                          a detailed   report regarding each Loan Party’s and its Subsidiaries’ cash and Cash   Equivalents, including an indication of which amounts constitute Qualified   Cash,

 

(n)                              a detailed   general ledger trial balance account numbers 240300 (accrued advertising and   promotions), 240310 (accrued slotting), 240352 (accrued customer discounts)   and 240400 (accrued FSI coupons),

 

(o)                              a report that   provides detail to: excess inventory, raw materials and farm products greater   than a 12 months’ supply (including the supporting calculations), expired   inventory, raw materials and farm products (inventory, raw materials and farm   products within 90 days of expiration date), and inventory, raw materials and   farm products on hold (by January 15th for the December 2015 Borrowing   Base, or such date as Agent may agree),

 

(p)                              a detailed   report including short pay general ledger account 120025 or other related   general ledger entries, and

 

(q)                              a detailed   report including unapplied cash under general ledger account 100170 or other   related general ledger entries. 
    
	
No   later than 30 days after the end of each month and each year, respectively

 
    	
(r)                                 a   reconciliation of Accounts, accounts payable, and inventory, raw materials   and farm products of Borrowers’ general ledger to its monthly financial   statements including any book reserves related to each category. 
    
	
Quarterly   (no later than the last day of the month following the end of each fiscal   quarter) 
    	
(s)                                a report   regarding Parent Borrower’s and its Subsidiaries’ accrued, but unpaid, ad valorem taxes, and

 

(t)                                  updated   information (including bring down search results and intellectual property   searches) in respect of previously delivered Perfection Certificate,

 
    
	
No   later than 90 days after the end of each fiscal year

 
    	
(u)                              a detailed   list of each Loan Party’s and its Subsidiaries’ customers, with address and contact   information.

 

(v)                              a Perfection   Certificate or a supplement to the Perfection Certificate.

 
    
	
Upon   receipt thereof by 
    	
(w)                    Food Products Notices,   including in respect of Food Products Payables, and

 
    

 

1  All numerical general ledger account references are to the Loan Parties’ general ledger account number(s) as reflected in the Loan Parties’ general ledger trial balance.  To the extent from and after the date of the Agreement, there is a change in the general ledger account number, reporting shall be deemed for such changed/substituted account number for the same category of account as reflected in this Schedule 5.2.

 

 

	
any   Loan Party or any of its Subsidiaries
    	
(x)                       notices   (including any notice of inspection and notice of action) from the U.S.   Department of Agriculture, the FDA, or any other Governmental Authority   relating to compliance or non-compliance with Food Laws.

 
    
	
Upon   request by Agent 
    	
 

(y)                              copies of   purchase orders and invoices for inventory, raw materials and farm products   acquired by any Loan Party or its Subsidiaries,

 

(z)                               copies of   invoices together with corresponding shipping and delivery documents, and   credit memos together with corresponding supporting documentation, with   respect to invoices and credit memos in excess of an amount determined in the   sole discretion of Agent, from time to time, and

 

(aa)                        such other   reports as to the Collateral of any Loan Party and its Subsidiaries, as Agent   may reasonably request including status reports for outstanding Food Products   Notices or notices received from the U.S. Department of Agriculture, the U.S.   Food and Drug Administration, or any other Governmental Authority relating to   compliance or non-compliance with Food Security Laws.

 
    

 

 

EXHIBIT B-3

 

FORM OF SUMMARY BORROWING BASE CERTIFICATE

 

[see attached]

 

 

Summary Page Borrowing Base Certificate

 

	
Date
    	
 
    	
 
    	
 
    
	
Name
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
A/R   As of:
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
Inventory   As of:
    	
 
    	
 
    
							

 

 

	
 
    	
 

The undersigned,                                                                    (“Borrower”),   pursuant to that certain Credit Agreement dated as of                                                              (as   amended, restated, modified, supplemented, refinanced, renewed, or extended   from time to time, the “Credit Agreement”), entered into among Borrower, the   lenders signatory thereto from time to time and Wells Fargo Bank, N.A. as the   arranger and administrative agent (in such capacity, together with its   successors and assigns, if any, in such capacity, “Agent”), hereby certifies   to Agent that the following items, calculated in accordance with the terms   and definitions set forth in the Credit Agreement for such items are true and   correct, and that Borrower is in compliance with and, after giving effect to   any currently requested Advances, will be in compliance with, the terms,   conditions, and provisions of the Credit Agreement.

 
    

 

	
Accounts Receivable
    

 

	
Accounts   Receivable Balance per Aging Report Assigned To Wells Fargo Capital Finance
   Less Ineligibles (detailed on page 2)
    	
 
    	
 
    	
 
    
	
Eligible Accounts Receivable
    	
 
    	
 
    	
 
    
	
Accounts Receivable Availability   before Sublimit(s)
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
Net Available Accounts   Receivable after Sublimit(s)
    	
 
    	
 
    	
 
    

 

	
Inventory
    

 

	
Inventory   Balance Assigned To Wells Fargo Capital Finance
   Less Ineligibles (detailed on page 3)
    	
 
    	
 
    	
 
    
	
Eligible Inventory
    	
 
    	
 
    	
 
    
	
Inventory Availability before Sublimit(s)
    	
 
    	
 
    	
 
    
	
Available Inventory after   Sublimit(s)
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
Net Available after   Sublimit(s) and before Reserves
    	
 
    	
 
    	
 
    

 

	
Summary
    

 

	
 
    	
 
    	
 
    	
 
    
	
Total Collateral Availability 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
Reserves
    	
 
    	
 
    	
 
    	
 
    
	
                                                 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
                                                 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
Total   Reserves Calculated before the Credit Line
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
Total   Collateral Availability
    	
 
    	
 
    	
 
    	
 
    
	
 Suppressed Availability
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
Availability   after Reserves             Total   Credit Line                                             
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
Reserves
    	
 
    	
 
    	
 
    	
 
    
	
                                                 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
                                                 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
													

 

	
Total   Reserves Calculated after the Credit Line
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
Total   Availability after Reserves before Loan Balance and LCs
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    

 

	
Letter of Credit Balance
    	
As of:                                     
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Loan Ledger Balance
    	
As of:                                     
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    

 

 

	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Net   Availability
    	
 
    	
 
    	
 
    	
 
    

 

	
 
    	
 

Additionally,   the undersigned hereby certifies and represents and warrants to the Lender   Group on behalf of Borrower that (i) as of the date hereof, each   representation or warranty contained in or pursuant to any Loan Document, any   agreement, instrument, certificate, document or other writing furnished at   any time under or in connection with any Loan Document, and as of the   effective date of any advance, continuation or conversion requested above is   true and correct in all material respects (except to the extent any   representation or warranty expressly related to an earlier date),   (ii) each of the covenants and agreements contained in any Loan Document   have been performed (to the extent required to be performed on or before the   date hereof or each such effective date), (iii) no Default or Event of   Default has occurred and is continuing on the date hereof, nor will any   thereof occur after giving effect to the request above, and (iv) all of   the foregoing is true and correct as of the effective date of the   calculations set forth above and that such calculations have been made in   accordance with the requirements of the Credit Agreement.

 
    

 

	
 
    	
 
    
	
Authorized Signer
    	
 
    

 

 

EXHIBIT A

 

TERM LOAN AGENT’S LIMITED WAIVEREX-4.1

 Exhibit 4.1 
  

 
  

PURCHASE CONTRACT AND PLEDGE AGREEMENT 

Dated as of May 17, 2017 

among 
 Stanley
Black & Decker, Inc. 
 and 

The Bank of New York Mellon Trust Company, National Association, 

as Purchase Contract Agent, 
 and

 HSBC Bank USA, National Association, 

as Collateral Agent, Custodial Agent and Securities Intermediary 
  

 
  

 TABLE OF CONTENTS 

 

					
		  	 	PAGE	 
	
	ARTICLE 1	 
	DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION	 
		
	 Section 1.01 . Definitions
	  	 	1	 
	 Section 1.02 . Compliance Certificates and Opinions
	  	 	21	 
	 Section 1.03 . Form of Documents Delivered to Purchase Contract Agent or Collateral
Agent
	  	 	22	 
	 Section 1.04 . Acts of Holders; Record Dates
	  	 	22	 
	 Section 1.05 . Notices
	  	 	24	 
	 Section 1.06 . Notice to Holders; Waiver
	  	 	25	 
	 Section 1.07 . Effect of Headings and Table of Contents
	  	 	25	 
	 Section 1.08 . Successors and Assigns
	  	 	25	 
	 Section 1.09 . Separability Clause
	  	 	26	 
	 Section 1.10 . Benefits of Agreement
	  	 	26	 
	 Section 1.11 . Governing Law; Jurisdiction; Waiver of Trial by Jury
	  	 	26	 
	 Section 1.12 . Legal Holidays
	  	 	27	 
	 Section 1.13 . Counterparts
	  	 	27	 
	 Section 1.14 . Inspection of Agreement
	  	 	27	 
	 Section 1.15 . Appointment of Financial Institution as Agent for the Company
	  	 	28	 
	 Section 1.16 . No Waiver
	  	 	28	 
	
	ARTICLE 2	 
	CERTIFICATE FORMS	 
		
	 Section 2.01 . Forms of Certificates Generally
	  	 	28	 
	 Section 2.02 . Form of Purchase Contract Agent’s Certificate of
Authentication
	  	 	28	 
	
	ARTICLE 3	 
	THE UNITS	 
		
	 Section 3.01 . Amount; Form and Denominations
	  	 	29	 
	 Section 3.02 . Rights and Obligations Evidenced by the Certificates
	  	 	29	 
	 Section 3.03 . Execution, Authentication; Delivery and Dating
	  	 	30	 
	 Section 3.04 . Temporary Certificates
	  	 	31	 
	 Section 3.05 . Registration; Registration of Transfer and Exchange
	  	 	32	 
	 Section 3.06 . Book-entry Interests
	  	 	33	 
	 Section 3.07 . [Reserved]
	  	 	34	 
	 Section 3.08 . Appointment of Successor Depositary
	  	 	34	 
	 Section 3.09 . Definitive Certificates
	  	 	34	 
	 Section 3.10 . Mutilated, Destroyed, Lost and Stolen Certificates
	  	 	35	 

  
 i 

					
	 Section 3.11 . Persons Deemed Owners
	  	 	37	 
	 Section 3.12 . Cancellation
	  	 	38	 
	 Section 3.13 . Creation of Treasury Units by Substitution of Treasury
Security
	  	 	38	 
	 Section 3.14 . Creation of Cash Settled Units by Substitution of Cash
	  	 	41	 
	 Section 3.15 . Recreation of Corporate Units
	  	 	43	 
	 Section 3.16 . Transfer of Collateral Upon Occurrence of Termination Event
	  	 	44	 
	 Section 3.17 . No Consent to Assumption
	  	 	47	 
	 Section 3.18 . Substitutions
	  	 	47	 
	
	ARTICLE 4	 
	THE CONVERTIBLE PREFERRED STOCK	 
		
	 Section 4.01 . Payments; Rights to Payments Preserved
	  	 	47	 
	 Section 4.02 . Payments Prior to or on Purchase Contract Settlement Date
	  	 	49	 
	 Section 4.03 . Notice and Voting
	  	 	50	 
	 Section 4.04 . Payments to Purchase Contract Agent
	  	 	52	 
	 Section 4.05 . Payments Held In Trust
	  	 	52	 
	
	ARTICLE 5	 
	THE PURCHASE CONTRACTS	 
		
	 Section 5.01 . Purchase of Shares of Common Stock
	  	 	52	 
	 Section 5.02 . Remarketing; Notices; Separate Shares of Convertible Preferred Stock;
Registration; Payment of Purchase Price
	  	 	55	 
	 Section 5.03 . Issuance of Shares of Common Stock
	  	 	64	 
	 Section 5.04 . Fundamental Change Early Settlement
	  	 	65	 
	 Section 5.05 . Termination Event; Notice
	  	 	70	 
	 Section 5.06 . Early Settlement
	  	 	71	 
	 Section 5.07 . No Fractional Shares
	  	 	74	 
	 Section 5.08 . Charges and Taxes
	  	 	75	 
	 Section 5.09 . Contract Adjustment Payments
	  	 	75	 
	 Section 5.10 . Deferral of Contract Adjustment Payments
	  	 	77	 
	 Section 5.11 . Anti-dilution Adjustments
	  	 	80	 
	 Section 5.12 . Reorganization Events
	  	 	89	 
	
	ARTICLE 6	 
	RIGHTS AND REMEDIES OF HOLDERS	 
		
	 Section 6.01 . Unconditional Right of Holders to Receive Contract Adjustment Payments and to
Purchase Shares of
 Common Stock
	  	 	90	 
	 Section 6.02 . Restoration of Rights and Remedies
	  	 	90	 
	 Section 6.03 . Rights and Remedies Cumulative
	  	 	90	 
	 Section 6.04 . Delay or Omission Not Waiver
	  	 	91	 
	 Section 6.05 . Undertaking for Costs
	  	 	91	 
	 Section 6.06 . Waiver of Stay or Extension Laws
	  	 	91	 

  
 ii 

					
	ARTICLE 7	 
	THE PURCHASE CONTRACT AGENT	 
		
	 Section 7.01 . Certain Duties and Responsibilities
	  	 	92	 
	 Section 7.02 . Notice of Default
	  	 	93	 
	 Section 7.03 . Certain Rights of Purchase Contract Agent
	  	 	93	 
	 Section 7.04 . Not Responsible for Recitals or Issuance of Units
	  	 	95	 
	 Section 7.05 . May Hold Units
	  	 	96	 
	 Section 7.06 . Money Held in Custody
	  	 	96	 
	 Section 7.07 . Compensation and Reimbursement.
	  	 	96	 
	 Section 7.08 . Corporate Purchase Contract Agent Required; Eligibility
	  	 	97	 
	 Section 7.09 . Resignation and Removal; Appointment of Successor
	  	 	97	 
	 Section 7.10 . Acceptance of Appointment by Successor
	  	 	99	 
	 Section 7.11 . Merger, Conversion, Consolidation or Succession to Business
	  	 	99	 
	 Section 7.12 . Preservation of Information; Communications to Holders
	  	 	100	 
	 Section 7.13 . No Obligations of Purchase Contract Agent
	  	 	100	 
	 Section 7.14 . Tax Compliance
	  	 	100	 
	
	ARTICLE 8	 
	SUPPLEMENTAL AGREEMENTS	 
		
	 Section 8.01 . Supplemental Agreements Without Consent of Holders
	  	 	101	 
	 Section 8.02 . Supplemental Agreements with Consent of Holders
	  	 	102	 
	 Section 8.03 . Execution of Supplemental Agreements
	  	 	103	 
	 Section 8.04 . Effect of Supplemental Agreements
	  	 	104	 
	 Section 8.05 . Reference to Supplemental Agreements
	  	 	104	 
	
	ARTICLE 9	 
	CONSOLIDATION, MERGER, SALE, CONVEYANCE, TRANSFER OR DISPOSITION	 
		
	 Section 9.01 . Covenant Not To Consolidate, Merge, Sell, Convey, Transfer or Dispose
Property except under
 Certain Conditions
	  	 	104	 
	 Section 9.02 . Rights and Duties of Successor Corporation
	  	 	105	 
	 Section 9.03 . Opinion of Counsel Given to Purchase Contract Agent
	  	 	105	 
	
	ARTICLE 10	 
	COVENANTS	 
		
	 Section 10.01 . Performance under Purchase Contracts
	  	 	106	 
	 Section 10.02 . Maintenance of Office or Agency
	  	 	106	 
	 Section 10.03 . Company to Reserve Common Stock
	  	 	107	 
	 Section 10.04 . Covenants as to Common Stock; Listing
	  	 	107	 
	 Section 10.05 . ERISA
	  	 	107	 
	 Section 10.06 . Tax Treatment
	  	 	107	 
	 Section 10.07 . Withholding
	  	 	108	 

  
 iii 

					
	ARTICLE 11	 
	PLEDGE	 
		
	 Section 11.01 . Pledge
	  	 	108	 
	 Section 11.02 . Termination
	  	 	109	 
	
	ARTICLE 12	 
	ADMINISTRATION OF COLLATERAL	 
		
	 Section 12.01 . Initial Deposit of Convertible Preferred Stock
	  	 	109	 
	 Section 12.02 . Establishment of Collateral Account
	  	 	109	 
	 Section 12.03 . Treatment as Financial Assets
	  	 	110	 
	 Section 12.04 . Sole Control by Collateral Agent
	  	 	110	 
	 Section 12.05 . Jurisdiction
	  	 	111	 
	 Section 12.06 . No Other Claims
	  	 	111	 
	 Section 12.07 . Investment and Release
	  	 	111	 
	 Section 12.08 . Treasury Securities
	  	 	112	 
	 Section 12.09 . Statements and Confirmations
	  	 	113	 
	 Section 12.10 . Tax Allocations
	  	 	113	 
	 Section 12.11 . No Other Agreements
	  	 	113	 
	 Section 12.12 . Powers Coupled with an Interest
	  	 	113	 
	 Section 12.13 . Waiver of Lien Waiver of
Set-off
	  	 	113	 
	
	ARTICLE 13	 
	RIGHTS AND REMEDIES OF THE COLLATERAL AGENT	 
		
	 Section 13.01 . Rights and Remedies of the Collateral Agent
	  	 	113	 
	
	ARTICLE 14	 
	REPRESENTATIONS AND WARRANTIES TO COLLATERAL AGENT; HOLDER
COVENANTS	 
		
	 Section 14.01 . Representations And Warranties
	  	 	115	 
	 Section 14.02 . Covenants
	  	 	116	 
	
	ARTICLE 15	 
	THE COLLATERAL AGENT, THE CUSTODIAL AGENT AND THE SECURITIES
INTERMEDIARY	 
		
	 Section 15.01 . Appointment, Powers and Immunities
	  	 	116	 
	 Section 15.02 . Instructions of the Company
	  	 	118	 
	 Section 15.03 . Reliance by Collateral Agent, Custodial Agent and Securities
Intermediary
	  	 	118	 
	 Section 15.04 . Certain Rights
	  	 	119	 
	 Section 15.05 . Merger, Conversion, Consolidation or Succession to Business
	  	 	119	 
	 Section 15.06 . Rights in Other Capacities
	  	 	120	 

  
 iv 

					
	 Section 15.07 . Non-reliance on the Collateral
Agent, Custodial Agent and Securities Intermediary
	  	 	120	 
	 Section 15.08 . Compensation And Indemnity
	  	 	120	 
	 Section 15.09 . Failure to Act
	  	 	121	 
	 Section 15.10 . Resignation of Collateral Agent, the Custodial Agent and the Securities
Intermediary
	  	 	122	 
	 Section 15.11 . Right to Appoint Agent or Advisor
	  	 	123	 
	 Section 15.12 . Survival
	  	 	123	 
	 Section 15.13 . Exculpation
	  	 	124	 
	 Section 15.14 . Expenses, Etc.
	  	 	124	 
	
	ARTICLE 16	 
	MISCELLANEOUS	 
		
	 Section 16.01 . Company to Furnish Purchase Contract Agent Names and Addresses of
Holders
	  	 	124	 
	 Section 16.02 . Preservation of Information; Communications to Holders
	  	 	125	 
	 Section 16.03 . Defaults, Waiver
	  	 	125	 
	 Section 16.04 . Purchase Contract Agent’s Knowledge of
Defaults
	  	 	125	 
	 Section 16.05 . Security Interest Absolute
	  	 	125	 
	 Section 16.06 . Notice of Termination Event
	  	 	126	 
	 Section 16.07 . U.S.A. Patriot Act
	  	 	126	 

  
 v 

			
	Exhibit A —	 	Form of Corporate Units Certificate
		
	Exhibit B —	 	Form of Treasury Units Certificate
		
	Exhibit C —	 	Form of Cash Settled Units Certificate
		
	Exhibit D —	 	Instruction to Purchase Contract Agent from Holder (To Create Treasury Units or Corporate Units)
		
	Exhibit E —	 	Instruction to Purchase Contract Agent from Holder (To Create Cash Settled Units)
		
	Exhibit F —	 	Notice from Purchase Contract Agent to Holders upon Termination Event
		
	Exhibit G —	 	Instruction from Purchase Contract Agent to Collateral Agent (Creation of Treasury Units)
		
	Exhibit H —	 	Instruction from Collateral Agent to Securities Intermediary (Creation of Treasury Units)
		
	Exhibit I —	 	Instruction from Purchase Contract Agent to Collateral Agent (Creation of Cash Settled Units)
		
	Exhibit J —	 	Instruction from Collateral Agent to Securities Intermediary (Creation of Cash Settled Units)
		
	Exhibit K —	 	Instruction from Purchase Contract Agent to Collateral Agent (Recreation of Corporate Units)
		
	Exhibit L —	 	Instruction from Collateral Agent to Securities Intermediary (Recreation of Corporate Units)
		
	Exhibit M —	 	Instruction from Holder of Separate Shares of Convertible Preferred Stock to Custodial Agent Regarding Remarketing
		
	Exhibit N —	 	Instruction from Holder of Separate Shares of Convertible Preferred Stock to Custodial Agent Regarding Withdrawal from Remarketing
		
	Exhibit O —	 	Notification from Purchase Contract Agent to Collateral Agent Regarding Fundamental Change Early Settlement
		
	Exhibit P —	 	Notice to Settle with Cash After Unsuccessful Final Remarketing
		
	Exhibit Q —	 	Notice from Purchase Contract Agent to Collateral Agent (Settlement with Separate Cash)

  
 vi 

			
		
	Exhibit R —	 	Notice of Settlement with Separate Cash from Securities Intermediary to Purchase Contract Agent (Settlement with Separate Cash)

  
 vii 

 PURCHASE CONTRACT AND PLEDGE AGREEMENT, dated as of May 17, 2017 among Stanley
Black & Decker, Inc., a Connecticut corporation (the “Company”), The Bank of New York Mellon Trust Company, National Association, a national banking association, not individually, but acting solely as purchase contract
agent for, and as attorney-in-fact of, the Holders from time to time of the Units (in such capacities, together with its successors and assigns in such capacities, the
“Purchase Contract Agent”), and HSBC Bank USA, National Association, a national banking association, as collateral agent hereunder for the benefit of the Company (in such capacity, together with its successors in such capacity, the
“Collateral Agent”), as custodial agent (in such capacity, together with its successors in such capacity, the “Custodial Agent”), and as securities intermediary (as defined in Section
8-102(a)(14) of the UCC) with respect to the Collateral Account (in such capacity, together with its successors in such capacity, the “Securities Intermediary”). 

RECITALS 
 WHEREAS, the Company
has duly authorized the execution and delivery of this Agreement and the Certificates evidencing the Units; 
 WHEREAS, all things necessary
to make the Purchase Contracts, when the Certificates are executed by the Company and authenticated, executed on behalf of the Holders and delivered by the Purchase Contract Agent, as provided in this Agreement, the valid obligations of the Company
and the Holders, and to constitute these presents a valid agreement of the Company, in accordance with its terms, have been done; 

WHEREAS, pursuant to the terms of this Agreement and the Purchase Contracts, the Holders of the Units have irrevocably authorized the Purchase
Contract Agent, as attorney-in-fact of such Holders, among other things, to execute and deliver this Agreement on behalf of such Holders and to grant the Pledge provided
herein of the Collateral to secure the Obligations. 
 NOW, THEREFORE, the parties hereto agree as follows: 

ARTICLE 1 

DEFINITIONS AND OTHER PROVISIONS OF GENERAL
APPLICATION 
 Section 1.01. Definitions. For all purposes of this Agreement, except as otherwise expressly
provided or unless the context otherwise requires: 
 (a)    the terms defined in this Article 1 have the meanings
assigned to them in this Article 1 and include the plural as well as the singular, and nouns and pronouns of the masculine gender include the feminine and neuter genders; 

 (b)    all accounting terms not otherwise defined herein have the meanings
assigned to them in accordance with generally accepted accounting principles in the United States (“GAAP”); 

(c)    the words “herein,” “hereof” and “hereunder” and other words of
similar import refer to this Agreement as a whole and not to any particular Article, Section, Exhibit or other subdivision; 

(d)    the following terms, which are defined in the UCC, shall have the meanings set forth therein: “certificated
security,” “control,” “financial asset,” “entitlement order,” “securities account” and “security entitlement”; and 

(e)    the following terms have the meanings given to them in this Section 1.01(e): 

“Account Agreement” has the meaning set forth in Section 12.05. 

“Act” has the meaning, with respect to any Holder, set forth in Section 1.04. 

“Affiliate” of any Person means any other Person directly or indirectly controlling or controlled by or under direct or
indirect common control with such Person. For the purposes of this definition, “control” when used with respect to any Person means the power to direct the management and policies of such Person, directly or indirectly, whether through the
ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative to the foregoing. 

“Agreement” means this instrument as originally executed or as it may from time to time be supplemented or amended by one or
more agreements supplemental hereto entered into pursuant to the applicable provisions hereof. 
 “Applicable Law” has the
meaning set forth in Section 7.14(d). 
 “Applicable Market Value” means the average of the Daily VWAPs of the Common Stock
during the Market Value Averaging Period, subject to Section 5.12; provided that if, by the open of trading on the third Scheduled Trading Day immediately preceding the Purchase Contract Settlement Date, 20 Trading Days for the Common
Stock have not occurred during the period from, and including, the first day of the Market Value Averaging Period to, such third Scheduled Trading Day, all remaining Trading Days in the Market Value Averaging Period shall be deemed to occur on such
third Scheduled Trading Day, and the Daily VWAP for each of those remaining Trading Days shall be the Daily VWAP on such third Scheduled Trading Day or, if such day is not a Trading Day, the Closing Price of the Common Stock as of such day. 

  
 2 

 “Applicable Ownership Interest in Convertible Preferred Stock” means a 1/10, or
a 10%, undivided beneficial ownership interest in one share of Convertible Preferred Stock that is a component of a Corporate Unit. 

“Applicable Ownership Interest in the Treasury Portfolio” means, with respect to a Corporate Unit and the Treasury Portfolio,
a 1/10, or a 10%, undivided beneficial ownership interest in $1,000 face amount of U.S. Treasury securities (or principal or interest strips thereof) included in the Treasury Portfolio that matures on or prior to the Purchase Contract Settlement
Date. 
 “Applicable Remarketing Period” means any of (i) any Optional Remarketing Period specified by the Company
pursuant to Section 5.02(a) or (ii) the Final Remarketing Period, as the context requires. 
 “Applicants” has the
meaning set forth in Section 7.12(b). 
 “Authorized Officer” means the Company’s Chief Executive Officer, its
President or one of its Vice Presidents or its Treasurer or one of its Assistant Treasurers, or any other officer or agent of the Company duly authorized by the Board of Directors to act in respect of this Agreement. 

“Bankruptcy Code” means Title 11 of the United States Code, or any other law of the United States that from time to time
provides a uniform system of bankruptcy laws. 
 “Beneficial Owner” means, with respect to a Book-Entry Interest, a Person
who is the beneficial owner of such Book-Entry Interest as reflected on the books of the Depositary or on the books of a Person maintaining an account with such Depositary (directly as a Depositary Participant or as an indirect participant, in each
case in accordance with the rules of such Depositary). 
 “Blackout Period” means, the period (i) if the Company has
elected an Optional Remarketing, from the close of business on the second Business Day immediately preceding the first day of the Optional Remarketing Period to and including the Remarketing Settlement Date of such Optional Remarketing Period or the
date the Company announces that no Successful Optional Remarketing has occurred during such Optional Remarketing Period, (ii) following any Successful Remarketing and (iii) after the close of business on the second Business Day immediately
preceding the first day of the Final Remarketing Period. 
 “Board of Directors” means the board of directors of the
Company or a duly authorized committee of that board. 
 “Board Resolution” means one or more resolutions of the Board of
Directors, a copy of which has been certified by the Secretary or an Assistant Secretary of the Company to have been duly adopted by the Board of Directors and to be in full force and effect on the date of such certification and delivered to the
Purchase Contract Agent. 

  
 3 

 “Book-Entry Interest” means a beneficial interest in a Global Certificate,
registered in the name of a Depositary or a nominee thereof, ownership and transfers of which shall be maintained and made through book entries by such Depositary as described in Section 3.06. 

“Business Day” means any day other than a Saturday or a Sunday or any other day on which banking institutions and trust
companies in New York City, New York are authorized or required by law or executive order to remain closed. 
 “Cash” or
“cash” means any coin or currency of the United States as at the time shall be legal tender for payment of public and private debts. 

“Cash Settled Unit” means, following the substitution of Cash for Pledged Applicable Ownership Interests in Convertible
Preferred Stock as collateral to secure a Holder’s obligations under the Purchase Contract, the collective rights and obligations of a Holder of a Cash Settled Units Certificate in respect of such Cash, subject to the Pledge thereof, and the
related Purchase Contract. 
 “Cash Settled Units Certificate” means a certificate evidencing the rights and obligations of
a Holder in respect of the number of Cash Settled Units specified on such certificate. 
 “Certificate” means a Corporate
Units Certificate, a Treasury Units Certificate or a Cash Settled Units Certificate, as the case may be. 
 “Certificate of
Amendment” means the certificate of amendment, dated as of May 17, 2017, to the Company’s Restated Certificate of Incorporation creating the Convertible Preferred Stock. 

“close of business” means 5:00 p.m., New York City time. 

“Closing Price” per share of Common Stock means, on any date of determination, the closing sale price (or if no closing sale
price is reported, the average of the bid and ask prices or, if more than one in either case, the average of the average bid and the average ask prices) on that date as reported in composite transactions for the principal U.S. national or regional
securities exchange on which the Common Stock is traded. If the Common Stock is not listed for trading on a U.S. national or regional securities exchange on the relevant date, the “Closing Price” shall be the last quoted bid price
for the Common Stock in the over-the-counter market on the relevant date as reported by OTC Markets Group Inc. or similar organization. If the Common Stock is not so
quoted, the “Closing Price” shall be the average of the mid-point of the last bid and ask prices for the Common Stock on the relevant date from each of at least three nationally recognized
independent investment banking firms selected by the Company for this purpose. 

  
 4 

 “Code” means the Internal Revenue Code of 1986, as amended. 

“Collateral” means the collective reference to: 

(i) the Collateral Account and all investment property and other financial assets and Cash from time to time credited to the Collateral
Account and all security entitlements with respect thereto, including, without limitation, (A) the Applicable Ownership Interests in Convertible Preferred Stock and security entitlements relating thereto (and the Convertible Preferred Stock and
security entitlements relating thereto delivered to the Collateral Agent in respect of such Applicable Ownership Interests in Convertible Preferred Stock, (B) the Applicable Ownership Interests in the Treasury Portfolio of the Holders with
respect to the Treasury Portfolio that is a component of the Corporate Units from time to time and security entitlements relating thereto, (C) any Treasury Securities Transferred to the Securities Intermediary from time to time in connection
with the creation of Treasury Units in accordance with Section 3.13 hereof and (D) any Cash Transferred to the Securities Intermediary from time to time in connection with the creation of Cash Settled Units in accordance with
Section 3.14 hereof; 
 (ii) all Proceeds of any of the foregoing (whether such Proceeds arise before or after the commencement of any
proceeding under any applicable bankruptcy, insolvency or other similar law, by or against the pledgor or with respect to the pledgor); and 

(iii) all powers and rights now owned or hereafter acquired under or with respect to the Collateral. 

“Collateral Account” means the securities account of HSBC Bank USA, National Association, as Collateral Agent, maintained on
the books of the Securities Intermediary and designated “HSBC Bank USA, National Association, as Collateral Agent of Stanley Black & Decker, Inc., as pledgee of The Bank of New York Mellon Trust Company, National Association, as the
Purchase Contract Agent on behalf of and as attorney-in-fact for the Holders”. 

“Collateral Agent” means the Person named as “Collateral Agent” in the first paragraph of this Agreement
until a successor Collateral Agent shall have become such pursuant to this Agreement, and thereafter “Collateral Agent” shall mean the Person who is then the Collateral Agent hereunder. 

“collateral event of default” has the meaning set forth in Section 13.01(b). 

“Collateral Substitution” means (i) with respect to the Corporate Units, the substitution of each 10 Pledged Applicable
Ownership Interests in Convertible Preferred Stock included in such Corporate Units with a Treasury Security or (ii) 

  
 5 

 
with respect to the Treasury Units, the substitution of a Treasury Security with a share of Convertible Preferred Stock for each 10 Treasury Units for which Collateral Substitution is being
effected. 
 “Common Stock” means the common stock, $2.50 par value, of the Company. 

“Company” means the Person named as the “Company” in the first paragraph of this Agreement until a successor
shall have become such pursuant to the applicable provisions of this Agreement, and thereafter “Company” shall mean such successor. 

“Compounded Contract Adjustment Payments” has the meaning set forth in Section 5.10(a). 

“Constituent Person” means, in respect of any Reorganization Event, a Person with which the Company is consolidated or into
which the Company is merged or which merged into the Company or to which the relevant sale or transfer was made, as the case may be, in connection with such Reorganization Event. 

“Contract Adjustment Payments” means the payments payable by the Company on the Payment Dates in respect of each Purchase
Contract, at a rate per year of 5.375% of the Stated Amount per Purchase Contract. 
 “Convertible Preferred Stock” means
the series of preferred stock of the Company designated as “0% Series C Cumulative Perpetual Convertible Preferred Stock,” without par value, with a liquidation preference of $1,000 per share created pursuant to the Certificate of
Amendment. 
 “Corporate Trust Office” means the office of the Purchase Contract Agent at which, at any particular time,
its corporate trust business shall be principally administered in Chicago, Illinois, which office at the date hereof is located at 2 North LaSalle Street, Suite 700, Chicago, Illinois 60602, Attention: Global Corporate Trust, or such other address
as the Purchase Contract Agent may designate from time to time by notice to the Holders and the Company, or the principal corporate trust office of any successor Purchase Contract Agent (or such other address as such successor Purchase Contract
Agent may designate from time to time by notice to the Holders, the Company, the Collateral Agent, the Custodial Agent and the Securities Intermediary); provided, however, that for purposes of payments, transfers, exchanges, presentments or
surrenders of Certificates, the Corporate Trust Office shall be located at the agency office of the Purchase Contract Agent at 101 Barclay Street, 8W, New York, New York 10286, Attention: Corporate Trust Division - Corporate Finance Unit, or such
other address as the Purchase Contract Agent may designate from time to time by notice to the Company, or the principal corporate trust office of any successor Purchase Contract Agent (or such other address as such successor Purchase Contract Agent
may designate from time to time by notice to the Company). 

  
 6 

 “Corporate Unit” means the collective rights and obligations of a Holder of a
Corporate Units Certificate in respect of the Applicable Ownership Interest in Convertible Preferred Stock or the Applicable Ownership Interest in the Treasury Portfolio, as the case may be, subject in each case to the Pledge thereof, and the
related Purchase Contract. 
 “Corporate Units Certificate” means a certificate evidencing the rights and obligations of a
Holder in respect of the number of Corporate Units specified on such certificate. 
 “Custodial Agent” means the Person
named as Custodial Agent in the first paragraph of this Agreement until a successor Custodial Agent shall have become such pursuant to the applicable provisions of this Agreement, and thereafter “Custodial Agent” shall mean the
Person who is then the Custodial Agent hereunder. 
 “Daily VWAP” means, in respect of Common Stock, on any Trading Day,
the per share volume weighted average price as displayed under the heading “Bloomberg VWAP” on Bloomberg page “SWK <Equity> AQR” (or its equivalent successor if such page is not available) in respect of the period from the
scheduled open of trading on such Trading Day until the scheduled close of trading on such Trading Day (or if such VWAP is unavailable, the market price of one share of Common Stock on such Trading Day determined, using a volume-weighted average
method, by a nationally recognized independent investment banking firm retained for this purpose by the Company). 

“Depositary” means a clearing agency registered under Section 17A of the Exchange Act that is designated to act as Depositary
for the Units as contemplated by Section 3.06 and Section 3.08. 
 “Depositary Participant” means a broker,
dealer, bank, other financial institution or other Person for whom from time to time the Depositary effects book entry transfers and pledges of securities deposited with the Depositary. 

“DTC” means The Depository Trust Company. 

“Early Settlement” has the meaning set forth in Section 5.06(a). 

“Early Settlement Amount” has the meaning set forth in Section 5.06(b). 

“Early Settlement Averaging Period” with respect to any Early Settlement means the 20 consecutive Trading Day period
beginning on, and including, the Trading Day immediately following the relevant Early Settlement Date; provided that if, by the open of trading on the third Scheduled Trading Day 

  
 7 

 
immediately preceding the Purchase Contract Settlement Date, 20 Trading Days for the Common Stock have not occurred during the period from, and including, the first day of the Early Settlement
Averaging Period to such third Scheduled Trading Day, all remaining Trading Days in the Early Settlement Averaging Period shall be deemed to occur on such third Scheduled Trading Day, and the Daily VWAP for each of those remaining Trading Days shall
be the Daily VWAP on such third Scheduled Trading Day or, if such day is not a Trading Day, the Closing Price of the Common Stock as of such day. 

“Early Settlement Date” has the meaning set forth in Section 5.06(b). 

“Effective Date” has the meaning specified in Section 5.04(b). 

“ERISA” means the Employee Retirement Income Security Act of 1974, as amended. 

“Ex-Dividend Date” when used with respect to any issuance or distribution on the
Common Stock or any other security, means the first date on which the Common Stock or such other security, as applicable, trades, regular way, on the principal U.S. securities exchange or quotation system on which the Common Stock or such other
security, as applicable, is listed or quoted at that time, without the right to receive the issuance or distribution. 
 “Exchange
Act” means the Securities Exchange Act of 1934 and any statute successor thereto, in each case as amended from time to time, and the rules and regulations promulgated thereunder. 

“Exchange Property” has the meaning set forth in Section 5.12. 

“Exchange Property Unit” means, in respect of any Reorganization Event, the kind and amount of Exchange Property receivable
in such Reorganization Event (without any interest thereon, and without any right to dividends or distribution thereon which have a record date that is prior to the applicable settlement date) per share of Common Stock by a holder of Common Stock
that is not a Constituent Person, or an Affiliate of a Constituent Person, to the extent such Reorganization Event provides for different treatment of Common Stock held by the Constituent Person and/or the Affiliates of the Constituent Person, on
the one hand, and non-Affiliates of a Constituent Person, on the other hand. 
 “Expiration
Date” has the meaning set forth in Section 1.04(e). 
 “Extension Period” has the meaning set forth in Section
5.10(a). 
 “Final Remarketing” means any Remarketing of the Convertible Preferred Stock that occurs during the Final
Remarketing Period by the Remarketing Agent(s) pursuant to the Remarketing Agreement. 

  
 8 

 “Final Remarketing Period” means the five Business Day period beginning on, and
including, the seventh Business Day, and ending on, and including, the third Business Day immediately preceding the Purchase Contract Settlement Date. 

“Five-Day Average Price” means the average of the Daily VWAPs per share of Common
Stock over the five consecutive Trading Day period ending on the third Trading Day immediately preceding the applicable Payment Date or other date in respect of which Contract Adjustment Payments are being paid. 

“Fundamental Change” means the occurrence after the Units are originally issued of: 

(i) any transaction or event (whether by means of a share exchange or tender offer applicable to the Common Stock, a liquidation,
consolidation, recapitalization, reclassification, combination or merger of the Company or a sale, lease or other transfer of all or substantially all of the Company’s consolidated assets) or a series of related transactions or events pursuant
to which 50% or more of the Company’s outstanding Common Stock is exchanged for, converted into or constitutes solely the right to receive Cash, securities or other property, more than 10% of which consists of Cash, securities or other property
that is not, or will not be upon consummation of such transaction, listed on a United States national or regional securities exchange for a period of 30 or more consecutive Trading Days; or 

(ii) the Common Stock ceases to be listed or quoted on a United States national or regional securities exchange for 30 or more consecutive
Trading Days. 
 “Fundamental Change Early Settlement” has the meaning set forth in Section 5.04(a). 

“Fundamental Change Early Settlement Date” has the meaning set forth in Section 5.04(a). 

“Fundamental Change Early Settlement Right” has the meaning set forth in Section 5.04(a). 

“GAAP” has the meaning set forth in Section 1.01(b). 

“Global Certificate” means a Certificate that evidences all or part of the Units and is registered in the name of the
Depositary or a nominee thereof. 
 “Global Preferred Share” has the meaning set forth in the Certificate of Amendment.

 “Hague Securities Convention” means the Convention on the Law Applicable to Certain Rights in Respect of Securities Held
with an Intermediary, July 5, 2006, 17 U.S.T. 401, 46 I.L.M. 649. 

  
 9 

 “Holder” means, with respect to a Unit, the Person in whose name the Unit
evidenced by a Certificate is registered in the Security Register. 
 “Increased Balance” has the meaning set forth in
Section 12.07(b). 
 “Increased Conversion Rate” means, in connection with each Remarketing, the conversion rate per share
of the Convertible Preferred Stock rounded to the nearest one ten thousandth (0.0001) of one share of Common Stock that shall apply to the Convertible Preferred Stock as determined by the Company pursuant to the Remarketing Agreement. 

“Increased Dividend Rate” means, in connection with each Remarketing, the dividend rate per annum rounded to the nearest one
thousandth (0.001) of one percent that the Convertible Preferred Stock shall bear as determined by the Company pursuant to the Remarketing Agreement. 

“Increased Rates” means, collectively, in connection with each Remarketing, the Increased Conversion Rate, if any, and the
Increased Dividend Rate, if any, in each case, applicable to such Remarketing. 
 “Indebtedness” means indebtedness of any
kind of the Company unless the instrument under which such indebtedness is incurred expressly provides that it is on a parity in right of payment with or subordinate in right of payment to the Contract Adjustment Payments. 

“Indemnitees” has the meaning set forth in Section 7.07(c). 

“Issuer Order” or “Issuer Request” means a written order or request signed in the name of the Company by an
Authorized Officer and delivered to the Purchase Contract Agent. 
 “Losses” has the meaning set forth in Section 15.08(b).

 “Make-Whole Shares” has the meaning set forth in Section 5.04(a). 

“Market Disruption Event” means (i) a failure by the primary U.S. national or regional securities exchange or market on
which the common Stock is listed or admitted for trading to open for trading during its regular trading session or (ii) the occurrence or existence prior to 1:00 p.m., New York City time, on any Scheduled Trading Day for the Common Stock for
more than one half-hour period in the aggregate during regular trading hours of any suspension or limitation imposed on trading (by reason of movements in price exceeding limits permitted by the relevant stock exchange or otherwise) in the Common
Stock or in any options contracts or futures contracts relating to the Common Stock. 
 “Market Value Averaging Period”
means the 20 consecutive Trading Day period beginning on, and including, the 22nd Scheduled Trading Day immediately preceding the Purchase Contract Settlement Date. 

  
 10 

 “Maximum Settlement Rate” has the meaning set forth in Section 5.01(a).

 “Minimum Stock Price” has the meaning set forth in Section 5.04(b). 

“Modified Redemption Date” means, in connection with each Remarketing, the earliest redemption date for the Convertible
Preferred Stock (which shall be no earlier than the earliest redemption date prior to such Remarketing) that shall apply after such Remarketing as determined by the Company pursuant to the Remarketing Agreement. Any Modified Redemption Date shall be
later than June 22, 2020. 
 “NYSE” means The New York Stock Exchange and its successors. 

“Obligations” means, with respect to each Holder, all obligations and liabilities of such Holder under such Holder’s
Purchase Contract and this Agreement or any other document made, delivered or given in connection herewith or therewith, in each case whether on account of principal, interest (including, without limitation, interest accruing before and after the
filing of any petition in bankruptcy, or the commencement of any insolvency, reorganization or like proceeding, relating to such Holder, whether or not a claim for post-filing or post-petition interest is allowed in such proceeding), fees,
indemnities, costs, expenses or otherwise (including, without limitation, all fees and disbursements of counsel to the Company or the Collateral Agent or the Securities Intermediary that are required to be paid by the Holder pursuant to the terms of
any of the foregoing agreements). 
 “Officer’s Certificate” means a certificate signed by the Authorized Officer and
delivered to the Purchase Contract Agent. Any Officer’s Certificate delivered with respect to compliance with a condition or covenant provided for in this Agreement shall include the information set forth in the second paragraph of
Section 1.02 hereof. 
 “open of business” means 9:00 a.m., New York City time. 

“Opinion of Counsel” means a written opinion of counsel, who may be counsel to the Company (and who may be an employee of the
Company), and who shall be reasonably acceptable to the Purchase Contract Agent. An opinion of counsel may rely on certificates as to matters of fact. 

“Optional Remarketing” means any Remarketing of the Convertible Preferred Stock that occurs during the Optional Remarketing
Window by the Remarketing Agent(s) pursuant to the Remarketing Agreement. 
 “Optional Remarketing Date” means the date the
Convertible Preferred Stock offered in an Optional Remarketing are priced by the Remarketing Agent(s). 

  
 11 

 “Optional Remarketing Period” has the meaning specified in Section 5.02(a). 

“Optional Remarketing Settlement Date” means the third Business Day following the Optional Remarketing Date, or such other
date the Company and the Remarketing Agent agree to. 
 “Optional Remarketing Window” means the period from and including
February 12, 2020 ending on and including April 28, 2020. 
 “Outstanding” means, as of any date of
determination, all Units evidenced by Certificates theretofore authenticated, executed and delivered under this Agreement, except: 
 (i)
all Units, if a Termination Event has occurred; 
 (ii) Units evidenced by Certificates theretofore cancelled by the Purchase Contract Agent
or delivered to the Purchase Contract Agent for cancellation or deemed cancelled pursuant to the provisions of this Agreement; and 
 (iii)
Units evidenced by Certificates in exchange for or in lieu of which other Certificates have been authenticated, executed on behalf of the Holder and delivered pursuant to this Agreement, other than any such Certificate in respect of which there
shall have been presented to the Purchase Contract Agent proof satisfactory to it that such Certificate is held by a protected purchaser in whose hands the Units evidenced by such Certificate are valid obligations of the Company; 

provided, however, that in determining whether the Holders of the requisite number of the Units have given any request, demand, authorization,
direction, notice, consent or waiver hereunder, Units owned by the Company or any Affiliate of the Company shall be disregarded and deemed not to be Outstanding Units, except that, in determining whether the Purchase Contract Agent shall be
authorized and protected in relying upon any such request, demand, authorization, direction, notice, consent or waiver, only Units that a Responsible Officer of the Purchase Contract Agent actually knows to be so owned shall be so disregarded. Units
so owned that have been pledged in good faith may be regarded as Outstanding Units if the pledgee establishes to the satisfaction of the Purchase Contract Agent the pledgee’s right so to act with respect to such Units and that the pledgee is
not the Company or any Affiliate of the Company. 
 “Payment Date” means February 15, May 15, August 15 and
November 15 of each year, commencing August 15, 2017. 
 “Permitted Investments” means any one of the following,
but, except for clause (4) below, in any case each investment shall not exceed 5% of the total debt outstanding of any single issuer: 

  
 12 

 (1) any evidence of indebtedness with an original maturity of 365 days or less issued, or
directly and fully guaranteed or insured, by the United States of America or any agency or instrumentality thereof (provided that the full faith and credit of the United States of America is pledged in support of the timely payment thereof or
such indebtedness constitutes a general obligation of it); 
 (2) time deposits or certificates of deposit with an original maturity of 365
days or less of any institution which is a member of the Federal Reserve System having combined capital and surplus and undivided profits of not less than $500 million at the time of deposit and having a rating at the time of deposit at least
equal to “A-1” by Standard & Poor’s Ratings Services (“S&P”) and at least equal to “P-1” by
Moody’s Investors Service, Inc. (“Moody’s”) (and which may include the institution acting as the Collateral Agent); 

(3) investments in commercial paper, other than commercial paper issued by the Company or its Affiliates, of any corporation incorporated
under the laws of the United States or any State thereof, which commercial paper has a rating at the time of purchase at least equal to “A-1” by S&P or at least equal to “P-1” by Moody’s; and 
 (4) investments in money market funds (including, but not limited
to, money market funds managed by the institution acting as the Collateral Agent or an affiliate of the institution acting as the Collateral Agent) registered under the Investment Company Act of 1940, as amended, rated in the highest applicable
rating category by S&P or Moody’s. 
 “Person” means a legal person, including any individual, corporation,
estate, partnership, joint venture, association, joint-stock company, limited liability company, trust, unincorporated organization or government or any agency or political subdivision thereof or any other entity of whatever nature. 

“Plan” means an employee benefit plan that is subject to ERISA, a plan or individual retirement account that is subject to
Section 4975 of the Code or any entity whose assets are considered assets of any such plan. 
 “Pledge” means the lien
and security interest in the Collateral created by this Agreement. 
 “Pledge Indemnitees” has the meaning set forth in
Section 15.08(b). 
 “Pledged Applicable Ownership Interests in Convertible Preferred Stock” means the Applicable Ownership
Interests in Convertible Preferred Stock and security entitlements with respect thereto from time to time credited to the Collateral Account and not then released from the Pledge. 

“Pledged Applicable Ownership Interests in the Treasury Portfolio” means the Applicable Ownership Interests in the Treasury
Portfolio and security entitlements with respect thereto from time to time credited to the Collateral Account and not then released from the Pledge. 

  
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 “Pledged Cash” means the Cash credited to the Collateral Account and not then
released from the Pledge. 
 “Pledged Convertible Preferred Share” has the meaning set forth in Section 12.07(b). 

“Predecessor Corporate Units Certificate” of any particular Corporate Units Certificate means every previous Corporate Units
Certificate evidencing all or a portion of the rights and obligations of the Company and the Holder under the Corporate Units evidenced thereby; and, for the purposes of this definition, any Corporate Units Certificate authenticated and delivered
under Section 3.10 in exchange for or in lieu of a mutilated, destroyed, lost or stolen Corporate Units Certificate shall be deemed to evidence the same rights and obligations of the Company and the Holder as the mutilated, destroyed, lost or
stolen Corporate Units Certificate. 
 “Predecessor Treasury Units Certificate” of any particular Treasury Units
Certificate means every previous Treasury Units Certificate evidencing all or a portion of the rights and obligations of the Company and the Holder under the Treasury Units evidenced thereby; and, for the purposes of this definition, any Treasury
Units Certificate authenticated and delivered under Section 3.10 in exchange for or in lieu of a mutilated, destroyed, lost or stolen Treasury Units Certificate shall be deemed to evidence the same rights and obligations of the Company and the
Holder as the mutilated, destroyed, lost or stolen Treasury Units Certificate. 
 “Primary Treasury Dealer” means a primary
U.S. government securities dealer. 
 “Pro Rata” or “pro-rata”
shall mean pro rata to each Holder according to the aggregate Stated Amount of the Units held by such Holder in relation to the aggregate Stated Amount of all Units outstanding, as determined by the Purchase Contract Agent. 

“Pro Rata Portion” of each Treasury Unit on any date means a fraction, expressed as a percentage rounded to the nearest one-thousandth of a percent, the numerator of which is one and the denominator of which is the total number of Treasury Units outstanding on such date. 

“Proceeds” has the meaning ascribed thereto in the UCC and includes, without limitation, all interest, dividends, Cash,
instruments, securities, financial assets and other property received, receivable or otherwise distributed upon the sale (including, without limitation, any Remarketing), exchange, collection, maturity or disposition of any financial assets from
time to time credited to the Collateral Account. 

  
 14 

 “Prospectus” means the prospectus relating to the delivery of shares or any
securities in connection with an Early Settlement pursuant to Section 5.06 or a Fundamental Change Early Settlement of Purchase Contracts pursuant to Section 5.04, in the form in which first filed, or transmitted for filing, with the
Securities and Exchange Commission after the effective date of the Registration Statement pursuant to Rule 424(b) under the Securities Act, including the documents incorporated by reference therein as of the date of such Prospectus. 

“Purchase Contract” means, with respect to any Unit, the contract forming a part of such Unit and obligating the Company to
(i) sell, and the Holder of such Unit to purchase, shares of Common Stock and (ii) pay the Holder thereof Contract Adjustment Payments, subject to the Company’s right to defer Contract Adjustment Payments pursuant to
Section 5.10, in each case on the terms and subject to the conditions set forth in Article 5 hereof. 
 “Purchase Contract
Agent” means the Person named as the “Purchase Contract Agent” in the first paragraph of this Agreement until a successor Purchase Contract Agent shall have become such pursuant to the applicable provisions of this Agreement, and
thereafter “Purchase Contract Agent” shall mean such Person or any subsequent successor who is appointed pursuant to this Agreement. 

“Purchase Contract Settlement Date” means May 15, 2020. 

“Purchase Price” has the meaning set forth in Section 5.01(a). 

“Quotation Agent” means any Primary Treasury Dealer selected by the Company. 

“Record Date” for any distribution and any Contract Adjustment Payment payable on any Payment Date means the first day of the
calendar month in which the relevant Payment Date falls (whether or not a Business Day) or if the Units are held in global book-entry form, the “Record Date” means the Business Day immediately preceding the applicable Payment Date;
provided that for purposes of Section 5.11, “Record Date” means, with respect to any dividend, distribution or other transaction or event in which the holders of Common Stock (or other applicable security) have the right to
receive any cash, securities or other property or in which the Common Stock (or such other security) is exchanged for or converted into any combination of cash, securities or other property, the date fixed for determination of holders of the Common
Stock (or such other security) entitled to receive such cash, securities or other property (whether such date is fixed by the Board of Directors, by statute, by contract or otherwise). 

“Reduced Balance” has the meaning set forth in Section 12.07(b). 

  
 15 

 “Reference Dividend” has the meaning set forth in Section 5.11(d). 

“Reference Price” has the meaning set forth in Section 5.01(a). 

“Registration Statement” means (i) in respect of any Early Settlement or Fundamental Change Early Settlement, a
registration statement under the Securities Act prepared by the Company covering, inter alia, the delivery by the Company of any securities in connection with an Early Settlement on the Early Settlement Date or a Fundamental Change Early Settlement
on the Fundamental Change Early Settlement Date under Section 5.04(a), and (ii) in respect of any Contract Adjustment Payment made in shares of Common Stock (in whole or in part), a registration statement under the Securities Act prepared by
the Company covering, inter alia, the issuance of or resales of shares of Common Stock issued as a Contract Adjustment Payment pursuant to Section 5.09(e), in each case, including all exhibits thereto and the documents incorporated by reference in
the prospectus contained in such registration statement, and any post-effective amendments thereto. 
 “Released Share” has
the meaning set forth in Section 12.07(b). 
 “Remarketing” will have the meaning set forth in the Remarketing Agreement.

 “Remarketing Agent(s)” has the meaning set forth in the Certificate of Amendment. 

“Remarketing Agreement” means a Remarketing Agreement to be entered into between the Company and one or more Remarketing
Agents setting forth the terms of a Remarketing. 
 “Remarketing Date” means the date the Convertible Preferred Stock
offered in an Optional Remarketing Period or the Final Remarketing Period are priced by the Company and the Remarketing Agent(s). 

“Remarketing Fee” means, in the event of a Successful Remarketing, a remarketing fee, if any, paid to the Remarketing
Agent(s) to be agreed upon in writing by the Company and the Remarketing Agent(s) prior to any Remarketing pursuant to the Remarketing Agreement. 

“Remarketing Price Per Share” means, for each share of Convertible Preferred Stock, an amount in Cash equal to the quotient
of the Treasury Portfolio Purchase Price divided by the number of shares of Convertible Preferred Stock underlying the Pledged Applicable Ownership Interests in Convertible Preferred Stock that are held as components of Corporate Units and
remarketed in an Optional Remarketing. 

  
 16 

 “Remarketing Price” means (i) in the case of an Optional Remarketing, 100%
of the sum of the Treasury Portfolio Purchase Price and the Separate Shares Purchase Price (if any) and (ii) in the case of the Final Remarketing, $1,000 multiplied by the aggregate number of shares of Convertible Preferred Stock
underlying the Pledged Applicable Ownership Interests in Convertible Preferred Stock and Separate Shares of Convertible Preferred Stock to be remarketed. 

“Remarketing Settlement Date” means (i) in the case of a Successful Optional Remarketing occurring during an Optional
Remarketing Period, the third Business day immediately following the Optional Remarketing Date for such Successful Optional Remarketing and (ii) in the case of the Final Remarketing, the Purchase Contract Settlement Date, in each case, or such
other date as the Company and the Remarketing Agent agree to. 
 “Reorganization Event” has the meaning specified in
Section 5.12 
 “Responsible Officer” means, when used with respect to the Purchase Contract Agent, any officer of the
Purchase Contract Agent assigned to the Global Corporate Trust Division or the Corporate Trust Division - Corporate Finance Unit (or any successor division or unit), as applicable, of the Purchase Contract Agent located at the Corporate Trust Office
of the Purchase Contract Agent, who shall have direct responsibility for the administration of this Agreement, and for the purposes of Section 7.01(b)(ii) and the proviso of Section 7.02 shall also include any other officer of the Purchase
Contract Agent to whom any corporate trust matter is referred because of such officer’s knowledge of and familiarity with the particular subject. 

“Scheduled Trading Day” means any day that is scheduled to be a Trading Day. 

“Securities Act” means the Securities Act of 1933 and any statute successor thereto, in each case as amended from time to
time, and the rules and regulations promulgated thereunder. 
 “Securities Intermediary” means the Person named as
Securities Intermediary in the first paragraph of this Agreement until a successor Securities Intermediary shall have become such pursuant to the applicable provisions of this Agreement, and thereafter “Securities Intermediary”
shall mean such successor or any subsequent successor. 
 “Security Register” and “Securities Registrar”
have the respective meanings set forth in Section 3.05. 
 “Separate Shares of Convertible Preferred Stock” means
shares of Convertible Preferred Stock that have been released from the Pledge following Collateral Substitution and therefore no longer underlie Corporate Units. 

  
 17 

 “Separate Shares Purchase Price” means, for the shares of Convertible Preferred
Stock remarketed in any Optional Remarketing, the amount in Cash equal to the product of (i) the Remarketing Price Per Share and (ii) the aggregate number of Separate Shares of Convertible Preferred Stock remarketed in such Optional
Remarketing. 
 “Settlement Rate” has the meaning set forth in Section 5.01(a). 

“Spin-Off” has the meaning specified in Section 5.11(c)(2). 

“Stated Amount” means $100. 

“Stock Price” has the meaning specified in Section 5.04(b). 

“Subjected Share” has the meaning set forth in Section 12.07(b). 

“Subsidiary” means a corporation more than 50% of the outstanding voting stock of which is owned, directly or indirectly, by
the Company or by one or more other Subsidiaries, or by the Company and one or more Subsidiaries. For the purposes of this definition, “voting stock” means stock which ordinarily has voting power for the election of directors,
whether at all times or only so long as no senior class of stock has such voting power by reason of any contingency. 
 “Successful
Optional Remarketing” has the meaning set forth in Section 5.02(a)(iv). 
 “Successful Final Remarketing” has the
meaning set forth in Section 5.02(b)(v). 
 “Successful Remarketing” means, as applicable, a Successful Optional
Remarketing or a Successful Final Remarketing. 
 “Termination Date” means the date, if any, on which a Termination Event
occurs. 
 “Termination Event” means the occurrence of any of the following events: 

(i) at any time on or prior to the Purchase Contract Settlement Date, the Company institutes or has instituted against it a proceeding seeking
a judgment of insolvency or bankruptcy or any other relief under any bankruptcy or insolvency law or other similar law affecting creditors’ rights, or a petition for its winding-up or liquidation, and, in
the case of any such proceeding or petition instituted or presented against it, such proceeding or petition (A) results in a judgment of insolvency or bankruptcy or the entry of an order for relief or the making of an order for its winding-up or liquidation or (B) is not dismissed, discharged, stayed or restrained in each case within 30 days of the institution or presentation thereof and if such proceeding, judgment, petition or order
shall have been entered more 

  
 18 

 
than 60 days prior to the Purchase Contract Settlement Date, such proceeding, judgment, petition or order shall have continued undischarged and unstayed for a period of 60 days; or 

(ii) at any time on or prior to the Purchase Contract Settlement Date, the Company seeks or becomes subject to the appointment of an
administrator, provisional liquidator, conservator, receiver, trustee, custodian or other similar official for it or for all or substantially all its assets. 

“TRADES” means the Treasury/Reserve Automated Debt Entry System maintained by the Federal Reserve Bank of New York pursuant
to the TRADES Regulations. 
 “TRADES Regulations” means the regulations of the United States Department of the Treasury,
published at 31 C.F.R. Part 357, as amended from time to time. Unless otherwise defined herein, all terms defined in the TRADES Regulations are used herein as therein defined. 

“Trading Day” means (a) a day (i) on which the NYSE, or , if the Common Stock is not then listed on the NYSE, the
principal exchange or quotation system on which the Common Stock is listed or admitted for trading, is scheduled to open for business and (ii) on which there has not occurred or does not exist a Market Disruption Event, or (b) if the
Common Stock is not so listed or admitted for trading, a “Trading Day” means a Business Day. 
 “Transfer” means
(i) in the case of certificated securities in registered form, delivery as provided in Section 8-301(a) of the UCC, indorsed to the transferee or in blank by an effective endorsement; (ii) in the
case of Treasury Securities, registration of the transferee as the owner of such Treasury Securities on TRADES; and (iii) in the case of security entitlements, including, without limitation, security entitlements with respect to Treasury
Securities, a securities intermediary indicating by book entry that such security entitlement has been credited to the transferee’s securities account. 

“Transfer Agent” means Computershare Investor Services, LLC as registrar and transfer agent for the Convertible Preferred
Stock, or any successor thereto as described in the Certificate of Amendment. 
 “Treasury Portfolio” means U.S. Treasury
securities (or principal or interest strips thereof) that mature on or prior to the Purchase Contract Settlement Date in an aggregate amount at maturity equal to $1,000 multiplied by the number of shares of Convertible Preferred Stock
underlying Applicable Ownership Interests in Convertible Preferred Stock included in the Corporate Units on the Optional Remarketing Date; provided that the U.S. Treasury securities (or principal or interest strips thereof) that are to be
included in the Treasury Portfolio in connection with a Successful Optional Remarketing have a yield that is less than zero, the Treasury Portfolio shall consist of an amount in Cash equal to the 

  
 19 

 
aggregate principal amount at maturity of the U.S. Treasury securities described above, in which case references herein to a “U.S. Treasury security” and “U.S. Treasury securities
(or principal and interest strips thereof)” in connection with the Treasury Portfolio shall, thereafter, be deemed to be references to such amount of Cash. 

“Treasury Portfolio Purchase Price” means the lowest aggregate ask-side price quoted
by a primary U.S. government securities dealer in New York City to the Quotation Agent between 9:00 a.m. and 4:00 p.m., New York City time, on the Optional Remarketing Date for the purchase of the Treasury Portfolio for settlement on the Optional
Remarketing Settlement Date. 
 “Treasury Security” means a zero-coupon U.S.
Treasury security with a principal amount of $1,000 that matures on or prior to May 15, 2020 (e.g., CUSIP No. 912803AT0). 

“Treasury Unit” means, following the substitution of a Treasury Security for Pledged Applicable Ownership Interests in
Convertible Preferred Stock as collateral to secure a Holder’s obligations under the Purchase Contract, the collective rights and obligations of a Holder of a Treasury Units Certificate in respect of a 1/10 undivided beneficial ownership
interest in a Treasury Security, subject to the Pledge thereof, and the related Purchase Contract. 
 “Treasury Units
Certificate” means a certificate evidencing the rights and obligations of a Holder in respect of the number of Treasury Units specified on such certificate. 

“UCC” means the Uniform Commercial Code as in effect in the State of New York from time to time. 

“Underwriters” means the underwriters identified in Schedule II to the Underwriting Agreement. 

“Underwriting Agreement” means the Underwriting Agreement, dated May 11, 2017, between the Company and Citigroup Global
Markets Inc. and Credit Suisse Securities (USA) LLC, as representatives of the Underwriters, relating to the sale of Corporate Units. 

“Unit” means a Corporate Unit, a Cash Settled Unit or a Treasury Unit, as the case may be. 

“Units Prospectus” means the Prospectus Supplement dated May 11, 2017, to the Prospectus dated October 19, 2015,
which is a part of the registration statement on Form S-3 (No. 333-207522), filed by the Company with the Securities and Exchange Commission. 

  
 20 

 “Unsuccessful Final Remarketing” has the meaning set forth in Section
5.02(b)(vii). 
 “Unsuccessful Optional Remarketing” has the meaning set forth in Section 5.02(a)(vi). 

“Unsuccessful Remarketing” means, as applicable, an Unsuccessful Optional Remarketing or an Unsuccessful Final Remarketing.

 “Valuation Period” has the meaning set forth in Section 5.11(c)(2). 

“Value” means, with respect to any item of Collateral on any date, as to (1) Cash, the amount thereof, (2) Treasury
Securities, the aggregate principal amount thereof at maturity, (3) Applicable Ownership Interests in the Treasury Portfolio, the appropriate aggregate percentage of the aggregate principal amount at maturity of the Treasury Portfolio and
(4) Applicable Ownership Interests in Convertible Preferred Stock, $1,000 multiplied by the aggregate number of the underlying shares of Convertible Preferred Stock. 

Section 1.02. Compliance Certificates and Opinions. Except as otherwise expressly provided by this Agreement, upon any application
or request by the Company to the Purchase Contract Agent or the Collateral Agent to take any action in accordance with any provision of this Agreement, the Company shall furnish to the Purchase Contract Agent or the Collateral Agent an
Officer’s Certificate stating that all conditions precedent, if any, provided for in this Agreement relating to the proposed action have been complied with and an Opinion of Counsel stating that, in the opinion of such counsel, all such
conditions precedent, if any, have been complied with, except that in the case of any such application or request as to which the furnishing of such documents is specifically required by any provision of this Agreement relating to such particular
application or request, no additional certificate or opinion need be furnished. 
 Every certificate or opinion with respect to compliance
with a condition or covenant provided for in this Agreement shall include: 
 (a)    a statement that each individual
signing such certificate or opinion has read such covenant or condition and the definitions herein relating thereto; 

(b)    a brief statement as to the nature and scope of the examination or investigation upon which the statements or
opinions contained in such certificate or opinion are based; 
 (c)    a statement that, in the opinion of each such
individual, he or she has made such examination or investigation as is necessary to enable such individual to express an informed opinion as to whether or not such covenant or condition has been complied with; and 

  
 21 

 (d)    a statement as to whether, in the opinion of each such individual,
such condition or covenant has been complied with. 
 Section 1.03. Form of Documents Delivered to Purchase Contract Agent or
Collateral Agent. In any case where several matters are required to be certified by, or covered by an opinion of, any specified Person, it is not necessary that all such matters be certified by, or covered by the opinion of, only one such
Person, or that they be so certified or covered by only one document, but one such Person may certify or give an opinion with respect to some matters and one or more other such Persons as to other matters, and any such Person may certify or give an
opinion as to such matters in one or several documents. Any certificate or opinion of an officer of the Company may be based, insofar as it relates to legal matters, upon a certificate or opinion of, or representations by, counsel, unless such
officer knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations with respect to the matters upon which its certificate or opinion is based are erroneous. Any such certificate or Opinion of Counsel
may be based, insofar as it relates to factual matters, upon a certificate or opinion of, or representations by, an officer or officers of the Company stating that the information with respect to such factual matters is in the possession of the
Company, unless such counsel knows, or in the exercise of reasonable care should know, that the certificate or opinion or representations with respect to such matters are erroneous. 

Where any Person is required to make, give or execute two or more applications, requests, consents, certificates, statements, opinions or
other instruments under this Agreement, they may, but need not, be consolidated and form one instrument. 
 Section 1.04. Acts of
Holders; Record Dates. (a) Any request, demand, authorization, direction, notice, consent, waiver or other action provided by this Agreement to be given or taken by Holders may be embodied in and evidenced by one or more instruments of
substantially similar tenor signed by such Holders in person or by an agent duly appointed in writing; and, except as herein otherwise expressly provided, such action shall become effective when such instrument or instruments are delivered to the
Purchase Contract Agent and, where it is hereby expressly required, to the Company. Such instrument or instruments (and the action embodied therein and evidenced thereby) are herein sometimes referred to as the “Act” of the Holders
signing such instrument or instruments. Proof of execution of any such instrument or of a writing appointing any such agent shall be sufficient for any purpose of this Agreement and (subject to Section 7.01) conclusive in favor of the Purchase
Contract Agent and the Company, if made in the manner provided in this Section 1.04. 
 (b)    The fact and date of
the execution by any Person of any such instrument or writing may be proved in any manner that the Purchase Contract Agent deems sufficient. 

  
 22 

 (c)    The ownership of Units shall be proved by the Security Register. 

(d)    Any request, demand, authorization, direction, notice, consent, waiver or other Act of the Holder of any Unit shall
bind every future Holder of the same Unit and the Holder of every Certificate evidencing such Unit issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof in respect of anything done, omitted or suffered to be
done by the Purchase Contract Agent or the Company in reliance thereon, whether or not notation of such action is made upon such Certificate. 

(e)    The Company may set any date as a record date for the purpose of determining the Holders of Outstanding Units
entitled to give, make or take any request, demand, authorization, direction, notice, consent, waiver or other action provided or permitted by this Agreement to be given, made or taken by Holders. If any record date is set pursuant to this
paragraph, the Holders of the Outstanding Corporate Units, the Outstanding Treasury Units and the Outstanding Cash Settled Units, as the case may be, on such record date, and no other Holders, shall be entitled to take the relevant action with
respect to the Corporate Units, the Treasury Units or the Cash Settled Units, as the case may be, whether or not such Holders remain Holders after such record date; provided that no such action shall be effective hereunder unless taken prior
to or on the applicable Expiration Date by Holders of the requisite number of Outstanding Units on such record date. Nothing contained in this paragraph shall be construed to prevent the Company from setting a new record date for any action for
which a record date has previously been set pursuant to this paragraph (whereupon the record date previously set shall automatically and with no action by any Person be cancelled and be of no effect), and nothing contained in this paragraph shall be
construed to render ineffective any action taken by Holders of the requisite number of Outstanding Units on the date such action is taken. Promptly after any record date is set pursuant to this paragraph, the Company, at its own expense, shall cause
notice of such record date, the proposed action by Holders and the applicable Expiration Date to be given to the Purchase Contract Agent in writing and to each Holder in the manner set forth in Section 1.06. 

With respect to any record date set pursuant to this Section 1.04(e), the Company may designate any date as the “Expiration
Date” and from time to time may change the Expiration Date to any later day; provided that no such change shall be effective unless notice of the proposed new Expiration Date is given to the Purchase Contract Agent in writing, and to
each Holder in the manner set forth in Section 1.06, prior to or on the existing Expiration Date. If an Expiration Date is not designated with respect to any record date set pursuant to this Section 1.04, the Company shall be deemed to
have initially designated the 180th day after such record date as the Expiration Date with respect thereto, subject to its right to change the Expiration Date as provided in this paragraph. Notwithstanding the foregoing, no Expiration Date shall be
later than the 180th day after the applicable record date. 

  
 23 

 Section 1.05. Notices. All notices, requests, consents, directions, instructions and
other communications provided for herein (including, without limitation, any modifications of, or waivers or consents under, this Agreement) shall be given or made in writing (including, without limitation, by telecopy) delivered to the intended
recipient at the “Address for Notices” specified below its name on the signature pages hereof or, as to any party, at such other address as shall be designated by such party in a notice to the other parties. Except as otherwise provided in
this Agreement, all such communications shall be deemed to have been duly given when transmitted by telecopier (and in the case of the Purchase Contract Agent, upon the Purchase Contract Agent’s confirmation of receipt in writing or by
telephone) or personally delivered or, in the case of a mailed notice, upon receipt, in each case given or addressed as aforesaid. 
 Each
of the Purchase Contract Agent, Collateral Agent, Custodial Agent and Securities Intermediary shall have the right, but shall not be required, to rely upon and comply with notices, instructions, directions or other communications sent by e-mail, facsimile and other similar unsecured electronic methods by persons reasonably believed by such entity to be authorized to give instructions and directions on behalf of the Company. Each of the Purchase
Contract Agent, Collateral Agent, Custodial Agent and Securities Intermediary shall have no duty or obligation to verify or confirm that the person who sent such instructions or directions is, in fact, a person authorized to give instructions or
directions on behalf of the Company; and each such entity shall have no liability for any losses, liabilities, costs or expenses incurred or sustained by the Company as a result of such reliance upon or compliance with such notices, instructions,
directions or other communications. The Company agrees to assume all risks arising out of the use of such electronic methods to submit notices, instructions, directions or other communications to the Purchase Contract Agent, Collateral Agent,
Custodial Agent and Securities Intermediary, including without limitation the risk of any such entity acting on unauthorized instructions, and the risk of interception and misuse by third parties. The Company shall use all reasonable endeavors to
ensure that any such notices, instructions, directions or other communications transmitted to the Purchase Contract Agent, Collateral Agent, Custodial Agent or Securities Intermediary pursuant to this Agreement are complete and correct. Any such
notices, instructions, directions or other communications shall be conclusively deemed to be valid instructions from the Company to the Purchase Contract Agent, Collateral Agent, Custodial Agent or Securities Intermediary, as the case may be, for
the purposes of this Agreement. 

  
 24 

 The Purchase Contract Agent shall send to the Transfer Agent at the following address a copy of
any notices in the form of Exhibits D, E, F, G, I or K it sends or receives: 
 Computershare Inc. 

Computershare Trust Company, N.A. 

Transfer Agent and Registrar 
 144
Fernwood Ave 
 Edison NJ 08837 

Whenever a notice or other communication to the Holders is required to be given under this Agreement, the Company or the Company’s agent
shall give such notices and communications to the Holders and, with respect to any Units registered in the name of the Depositary or the nominee of the Depositary, the Company or the Company’s agent shall, except as set forth herein, have no
obligations to the Beneficial Owners. 
 Section 1.06. Notice to Holders; Waiver. Where this Agreement provides for notice to
Holders of any event, such notice shall be sufficiently given (unless otherwise herein expressly provided) if in writing and mailed, first-class postage prepaid, to each Holder, at its address as it appears in the Security Register, not later than
the latest date, and not earlier than the earliest date, prescribed for the giving of such notice. In any case where notice to Holders is given by mail, neither the failure to mail such notice, nor any defect in any notice so mailed to any
particular Holder shall affect the sufficiency of such notice with respect to other Holders. Where this Agreement provides for notice in any manner, such notice may be waived in writing by the Person entitled to receive such notice, either before or
after the event, and such waiver shall be the equivalent of such notice. Waivers of notice by Holders shall be filed with the Purchase Contract Agent, but such filing shall not be a condition precedent to the validity of any action taken in reliance
upon such waiver. 
 In case by reason of the suspension of regular mail service or by reason of any other cause it shall be impracticable
to give such notice by mail, then such notification as shall be made with the approval of the Purchase Contract Agent shall constitute a sufficient notification for every purpose hereunder. 

Notwithstanding the foregoing or any other provision of this Agreement to the contrary, whenever notice is required to be given with respect
to a Unit represented by a Global Certificate, such notice shall be sufficiently given if given to the Depositary for such Global Certificate (or its designee) pursuant to customary procedures of such Depositary. 

Section 1.07. Effect of Headings and Table of Contents. The Article and Section headings herein and the Table of Contents are for
convenience only and shall not affect the construction hereof. 
 Section 1.08. Successors and Assigns. This Agreement shall be
binding upon and inure to the benefit of the respective successors and assigns of the Company, the Purchase Contract Agent, the Collateral Agent, the Custodial Agent and the Securities Intermediary, and the Holders from time to time of the Units,

  
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by their acceptance of the same, shall be deemed to have agreed to be bound by the provisions hereof and to have ratified the agreements of, and the grant of the Pledge hereunder by, the Purchase
Contract Agent. 
 Section 1.09. Separability Clause. In case any provision in this Agreement or in the Units shall be invalid,
illegal or unenforceable, the validity, legality and enforceability of the remaining provisions hereof and thereof shall not in any way be affected or impaired thereby. 

Section 1.10. Benefits of Agreement. Nothing contained in this Agreement or in the Units, express or implied, shall give to any
Person, other than the parties hereto and their successors hereunder and, to the extent provided hereby, the Holders, any benefits or any legal or equitable right, remedy or claim under this Agreement. The Holders from time to time shall be
beneficiaries of this Agreement and shall be bound by all of the terms and conditions hereof and of the Units evidenced by their Certificates by their acceptance of delivery of such Certificates. 

Section 1.11. Governing Law; Jurisdiction; Waiver of Trial by Jury. THIS AGREEMENT AND THE UNITS AND THE PURCHASE CONTRACTS SHALL
BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT GIVING EFFECT TO THE CONFLICTS OF LAW PROVISIONS THEREOF TO THE EXTENT THAT A DIFFERENT LAW WOULD GOVERN AS A RESULT. 

Each of the parties hereto irrevocably consents and agrees, for the benefit of the Holders from time to time of the Units and the Purchase
Contracts, and the other parties hereto, that any legal action, suit or proceeding against it with respect to obligations, liabilities or any other matter arising out of or in connection with this Agreement, the Units or the Purchase Contracts may
be brought in the courts of the State of New York or the courts of the United States, in each case located in the Borough of Manhattan, New York City, New York and hereby irrevocably consents and submits to the
non-exclusive jurisdiction of each such court in personam, generally and unconditionally with respect to any action, suit or proceeding for itself in respect of its properties, assets and revenues. 

Each of the parties hereto irrevocably and unconditionally waives, to the fullest extent permitted by law, any objection which it may now or
hereafter have to the laying of venue of any of the aforesaid actions, suits or proceedings arising out of or in connection with this Agreement, the Units or the Purchase Contracts brought in the courts of the State of New York or the courts of the
United States, in each case, located in the Borough of Manhattan, New York City, New York and hereby further irrevocably and unconditionally waives and agrees not to plead or claim in any such court that any such action, suit or proceeding brought
in any such court has been brought in an inconvenient forum. 

  
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 EACH PARTY HERETO, AND EACH HOLDER OF A UNIT BY ACCEPTANCE THEREOF, HEREBY WAIVES, TO THE FULLEST
EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF, RELATING TO OR IN CONNECTION WITH THIS AGREEMENT, THE UNITS, THE PURCHASE CONTRACTS OR THE
TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY. 
 Section 1.12. Legal Holidays. In any case where any Payment Date shall not be a
Business Day (notwithstanding any other provision of this Agreement or the Units), Contract Adjustment Payments, deferred Contract Adjustment Payments (including Compounded Contract Adjustment Payments thereon), and other distributions shall not be
paid on such date, but Contract Adjustment Payments, deferred Contract Adjustment Payments (including Compounded Contract Adjustment Payments thereon) and such other distributions shall be paid on the next succeeding Business Day, with the same
force and effect as if made on such scheduled Payment Date; provided that no interest or other amount shall accrue or be payable by the Company or to any Holder in respect of any such delay. 

In any case where the Purchase Contract Settlement Date or any Early Settlement Date or Fundamental Change Early Settlement Date shall not be
a Business Day (notwithstanding any other provision of this Agreement or the Units), Purchase Contracts shall not be performed and Early Settlement or Fundamental Change Early Settlement shall not be effected on such date, but Purchase Contracts
shall be performed or Early Settlement or Fundamental Change Early Settlement shall be effected, as applicable, on the next succeeding Business Day with the same force and effect as if made on such Purchase Contract Settlement Date, Early Settlement
Date or Fundamental Change Early Settlement Date, as applicable. 
 Section 1.13. Counterparts. This Agreement may be executed
in any number of counterparts by the parties hereto, each of which, when so executed and delivered, shall be deemed an original, but all such counterparts shall together constitute one and the same instrument. 

The exchange of copies of this Agreement and of signature pages by facsimile or PDF transmission shall constitute effective execution and
delivery of this Agreement as to the parties hereto and may be used in lieu of the original Agreement 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 1.14. Inspection of Agreement. A copy of this Agreement shall be available at all reasonable times during
normal business hours at the Corporate Trust Office for inspection by any Holder or Beneficial Owner. 

  
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 Section 1.15. Appointment of Financial Institution as Agent for the Company. The
Company may appoint a financial institution (which may be the Collateral Agent, provided that it shall have accepted such appointment) to act as its agent in performing its obligations and in accepting and enforcing performance of the
obligations of the Purchase Contract Agent and the Holders, under this Agreement and the Purchase Contracts, by giving notice of such appointment in the manner provided in Section 1.05 hereof. Any such appointment shall not relieve the Company
in any way from its obligations hereunder. 
 Section 1.16. No Waiver. No failure on the part of the Company, the Purchase
Contract Agent, the Collateral Agent, the Custodial Agent, the Securities Intermediary or any of their respective agents to exercise, and no course of dealing with respect to, and no delay in exercising, any right, power or remedy hereunder shall
operate as a waiver thereof; nor shall any single or partial exercise by the Company, the Purchase Contract Agent, the Collateral Agent, the Custodial Agent, the Securities Intermediary or any of their respective agents of any right, power or remedy
hereunder preclude any other or further exercise thereof or the exercise of any other right, power or remedy. The remedies herein are cumulative and are not exclusive of any remedies provided by law. 

ARTICLE 2 

CERTIFICATE FORMS 

Section 2.01. Forms of Certificates Generally. The Certificates (including the form of Purchase Contract forming part of each Unit
evidenced thereby) shall be in substantially the form set forth in Exhibit A hereto (in the case of Corporate Units Certificates), Exhibit B hereto (in the case of Treasury Units Certificates) or Exhibit C hereto (in the case of Cash Settled Units
Certificates), with such letters, numbers or other marks of identification or designation and such legends or endorsements printed, lithographed or engraved thereon as may be required by the rules of any securities exchange on which the Units are
listed or any depositary therefor, or as may, consistently herewith, be determined by the officers of the Company executing such Certificates, as evidenced by their execution of the Certificates. 

The definitive Certificates shall be produced in any manner as determined by the officers of the Company executing the Units evidenced by such
Certificates, consistent with the provisions of this Agreement, as evidenced by their execution thereof. 
 Every Global Certificate
authenticated, executed on behalf of the Holders and delivered hereunder shall bear a legend substantially in the form set forth in Exhibit A, Exhibit B and Exhibit C for a Global Certificate. 

Section 2.02. Form of Purchase Contract Agent’s Certificate of Authentication. The form of the Purchase
Contract Agent’s certificate of authentication of the Units shall be in substantially the form set forth on the form of the applicable Certificates. 

  
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 ARTICLE 3 

THE UNITS 

Section 3.01. Amount; Form and Denominations. The aggregate number of Units evidenced by Certificates authenticated, executed on
behalf of the Holders and delivered hereunder is limited to 7,500,000, except for Certificates authenticated, executed and delivered upon registration of transfer of, in exchange for, or in lieu of, other Certificates pursuant to Section 3.04,
Section 3.05, Section 3.06, Section 3.10, Section 3.13, Section 3.15 or Section 8.05. 
 The Certificates
shall be issuable only in registered form and only in denominations of a single Corporate Unit, Treasury Unit or Cash Settled Unit and any integral multiple thereof. 

Section 3.02. Rights and Obligations Evidenced by the Certificates. Each Corporate Units Certificate shall evidence the number of
Corporate Units specified therein, with each such Corporate Unit representing (1) the ownership by the Holder thereof of an Applicable Ownership Interest in Convertible Preferred Stock or an Applicable Ownership Interest in the Treasury
Portfolio, as the case may be, subject to the Pledge of such Applicable Ownership Interest in Convertible Preferred Stock or Applicable Ownership Interest in the Treasury Portfolio, as the case may be, by such Holder pursuant to this Agreement, and
(2) the rights and obligations of the Holder thereof and the Company under one Purchase Contract. The Purchase Contract Agent is hereby authorized, as
attorney-in-fact for, and on behalf of, the Holder of each Corporate Unit, to pledge, pursuant to Article 11 hereof, the Applicable Ownership Interest in Convertible
Preferred Stock, or the Applicable Ownership Interest in the Treasury Portfolio, forming a part of such Corporate Unit to the Collateral Agent, for the benefit of the Company, and to grant to the Collateral Agent, as agent of and for the benefit of
the Company, a security interest in the right, title and interest of such Holder in such Applicable Ownership Interest in Convertible Preferred Stock or such Applicable Ownership Interest in the Treasury Portfolio to secure the obligation of the
Holder under each Purchase Contract to purchase shares of Common Stock. To effect such Pledge and grant such security interest, the Purchase Contract Agent on behalf of the Holders of Corporate Units has, on the date hereof, delivered to the
Collateral Agent the Applicable Ownership Interests in Convertible Preferred Stock. 
 Upon the formation of a Treasury Unit pursuant to
Section 3.13, each Treasury Units Certificate shall evidence the number of Treasury Units specified therein, with each such Treasury Unit representing (1) the ownership by the Holder thereof of an undivided beneficial ownership interest in
the Treasury 

  
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Security, subject to the Pledge of such interest by such Holder pursuant to this Agreement, and (2) the rights and obligations of the Holder thereof and the Company under one Purchase
Contract. The Purchase Contract Agent is hereby authorized, as attorney-in-fact for, and on behalf of, the Holder of each Treasury Unit, to pledge, pursuant to Article
11 hereof, such Holder’s interest in the Treasury Security forming a part of such Treasury Unit to the Collateral Agent, as agent of and for the benefit of the Company, and to grant to the Collateral Agent, for the benefit of the Company, a
security interest in the right, title and interest of such Holder in such Treasury Security to secure the obligation of the Holder under each Purchase Contract to purchase shares of Common Stock. 

Upon the formation of a Cash Settled Unit pursuant to Section 3.14, each Cash Settled Units Certificate shall evidence the number of Cash
Settled Units specified therein, with each such Cash Settled Unit representing (1) the ownership by the Holder thereof of $100 Cash, subject to the Pledge of such Cash by such Holder pursuant to this Agreement, and (2) the rights and
obligations of the Holder thereof and the Company under one Purchase Contract. The Purchase Contract Agent is hereby authorized, as attorney-in-fact for, and on behalf
of, the Holder of each Cash Settled Unit, to pledge, pursuant to Article 11 hereof, such Holder’s Cash forming a part of such Cash Settled Unit to the Collateral Agent, as agent of and for the benefit of the Company, and to grant to the
Collateral Agent, for the benefit of the Company, a security interest in the right, title and interest of such Holder in such Cash to secure the obligation of the Holder under each Purchase Contract to purchase shares of Common Stock. 

Prior to the purchase of shares of Common Stock under each Purchase Contract, such Purchase Contracts shall not entitle the Holder of a Unit
to any of the rights of a holder of shares of Common Stock or Common Stock, including, without limitation, the right to vote or receive any dividends or other payments or to consent or to receive notice as a shareholder in respect of the meetings of
shareholders or for the election of directors of the Company or for any other matter, or any other rights whatsoever as a shareholder of the Company. 

Section 3.03. Execution, Authentication; Delivery and Dating. Subject to the provisions of Section 3.13, Section 3.14
and Section 3.15 hereof, upon the execution and delivery of this Agreement, and at any time and from time to time thereafter, the Company may deliver Certificates executed by the Company to the Purchase Contract Agent for authentication,
execution on behalf of the Holders and delivery, together with its Issuer Order for authentication, execution on behalf of the Holders and delivery of such Certificates, and the Purchase Contract Agent in accordance with such Issuer Order shall
authenticate, execute on behalf of the Holders and deliver such Certificates. 
 The Certificates shall be executed on behalf of the Company
by its Chairman of the Board of Directors, its Chief Executive Officer, its President, its Treasurer, one of its Vice Presidents or one of its Assistant Treasurers. The signature of any of these officers on the Certificates may be manual or
facsimile. 

  
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 Certificates bearing the manual or facsimile signatures of individuals who were at any time the
proper officers of the Company shall bind the Company, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Certificates or did not hold such offices at the date of
such Certificates. 
 No Purchase Contract evidenced by a Certificate shall be valid until such Certificate has been executed on behalf of
the Holder by the manual signature of an authorized officer of the Purchase Contract Agent, as such Holder’s attorney-in-fact. Such signature by an authorized
officer of the Purchase Contract Agent shall be conclusive evidence that the Holder of such Certificate has entered into the Purchase Contracts evidenced by such Certificate. 

Each Certificate shall be dated the date of its authentication. 

No Certificate shall be entitled to any benefit under this Agreement or be valid or obligatory for any purpose unless there appears on such
Certificate a certificate of authentication substantially in the form provided for herein executed by an authorized officer of the Purchase Contract Agent by manual signature, and such certificate of authentication upon any Certificate shall be
conclusive evidence, and the only evidence, that such Certificate has been duly authenticated and delivered hereunder. 

Section 3.04. Temporary Certificates. Pending the preparation of definitive Certificates, the Company may execute and deliver to
the Purchase Contract Agent, and the Purchase Contract Agent shall authenticate, execute on behalf of the Holders, and deliver, in lieu of such definitive Certificates, temporary Certificates which are in substantially the form set forth in Exhibit
A, Exhibit B or Exhibit C hereto, as the case may be, with such letters, numbers or other marks of identification or designation and such legends or endorsements printed, lithographed or engraved thereon as may be required by the rules of any
securities exchange on which the Corporate Units, Treasury Units or Cash Settled Units, as the case may be, are listed, or as may, consistently herewith, be determined by the officers of the Company executing such Certificates, as evidenced by their
execution of the Certificates. 
 If temporary Certificates are issued, the Company will cause definitive Certificates to be prepared
without unreasonable delay. After the preparation of definitive Certificates, the temporary Certificates shall be exchangeable for definitive Certificates upon surrender of the temporary Certificates at the Corporate Trust Office, at the expense of
the Company and without charge to the Holder. Upon surrender for cancellation of any one or more temporary Certificates, the Company shall execute and deliver to the Purchase Contract Agent, and the Purchase Contract Agent shall authenticate,
execute on behalf of the Holder, and deliver in exchange therefor, one or more definitive Certificates of like tenor and denominations and evidencing a like number of Units as the temporary Certificate or Certificates so surrendered. Until so
exchanged, the 

  
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temporary Certificates shall in all respects evidence the same benefits and the same obligations with respect to the Units evidenced thereby as definitive Certificates. 

Section 3.05. Registration; Registration of Transfer and Exchange. The Purchase Contract Agent shall keep at the Corporate Trust
Office a register (the “Security Register”) in which, subject to such reasonable regulations as it may prescribe, the Purchase Contract Agent shall provide for the registration of Certificates and of transfers of Certificates (the
Purchase Contract Agent, in such capacity, the “Security Registrar”). The Security Registrar shall record separately the registration and transfer of the Certificates evidencing Corporate Units, Treasury Units and Cash Settled
Units. 
 Upon surrender for registration of transfer of any Certificate at the Corporate Trust Office, the Company shall execute and
deliver to the Purchase Contract Agent, and the Purchase Contract Agent shall authenticate, execute on behalf of the designated transferee or transferees, and deliver, in the name of the designated transferee or transferees, one or more new
Certificates of any authorized denominations, like tenor, and evidencing a like number of Corporate Units, Treasury Units or Cash Settled Units, as the case may be. 

At the option of the Holder, Certificates may be exchanged for other Certificates, of any authorized denominations and evidencing a like
number of Corporate Units, Treasury Units or Cash Settled Units, as the case may be, upon surrender of the Certificates to be exchanged at the Corporate Trust Office. Whenever any Certificates are so surrendered for exchange, the Company shall
execute and deliver to the Purchase Contract Agent, and the Purchase Contract Agent shall authenticate, execute on behalf of the Holder, and deliver the Certificates which the Holder making the exchange is entitled to receive. 

All Certificates issued upon any registration of transfer or exchange of a Certificate shall evidence the ownership of the same number of
Corporate Units, Treasury Units or Cash Settled Units, as the case may be, and be entitled to the same benefits and subject to the same obligations under this Agreement as the Corporate Units, Treasury Units or Cash Settled Units, as the case may
be, evidenced by the Certificate surrendered upon such registration of transfer or exchange. 
 Every Certificate presented or surrendered
for registration of transfer or exchange shall (if so required by the Purchase Contract Agent) be duly endorsed, or be accompanied by a written instrument of transfer in form satisfactory to the Company and the Purchase Contract Agent duly executed
by the Holder thereof or its attorney duly authorized in writing. 
 No service charge shall be made for any registration of transfer or
exchange of a Certificate, but the Company and the Purchase Contract Agent may require payment from the Holder of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any registration of transfer or
exchange of Certificates, other than any exchanges pursuant to Section 3.04, Section 3.06 and Section 8.05 not involving any transfer. 

  
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 Notwithstanding the foregoing, the Company shall not be obligated to execute and deliver to the
Purchase Contract Agent, and the Purchase Contract Agent shall not be obligated to authenticate, execute on behalf of the Holder and deliver any Certificate in exchange for any other Certificate presented or surrendered for registration of transfer
or for exchange on or after the Business Day immediately preceding the earliest to occur of any Early Settlement Date with respect to such Certificate, any Fundamental Change Early Settlement Date with respect to such Certificate, the Purchase
Contract Settlement Date or the Termination Date. In lieu of delivery of a new Certificate, upon satisfaction of the applicable conditions specified above in this Section and receipt of appropriate registration or transfer instructions from such
Holder, the Purchase Contract Agent shall: 
 (a)    if the Purchase Contract Settlement Date, an Early Settlement Date
or a Fundamental Change Early Settlement Date with respect to such other Certificate (or portion thereof) has occurred, deliver the shares of Common Stock issuable in respect of the Purchase Contracts forming a part of the Units evidenced by such
other Certificate (or portion thereof); and 
 (b)    if a Termination Event, Early Settlement, or Fundamental Change
Early Settlement shall have occurred prior to the Purchase Contract Settlement Date, Transfer the Applicable Ownership Interests in the Convertible Preferred Stock, the Cash, the Treasury Security or the Applicable Ownership Interests in the
Treasury Portfolio, as the case may be, underlying such Certificate, in each case subject to the applicable conditions and in accordance with the applicable provisions of Section 3.16 and Article 5 hereof. 

Section 3.06. Book-entry Interests. The Certificates will be issued in the form of one or more fully registered Global
Certificates, to be delivered to the Depositary or its custodian by, or on behalf of, the Company. The Company hereby designates DTC as the initial Depositary. Such Global Certificates shall initially be registered on the Security Register in the
name of Cede & Co., the nominee of the Depositary, and no Beneficial Owner will receive a definitive Certificate representing such Beneficial Owner’s interest in such Global Certificate, except as provided in Section 3.09. The
Purchase Contract Agent shall enter into an agreement with the Depositary if so requested by the Company. Following the issuance of such Global Certificates and unless and until definitive, and fully registered Certificates have been issued to
Beneficial Owners pursuant to Section 3.09: 
 (a)    the provisions of this Section 3.06 shall be in full
force and effect; 

  
 33 

 (b)    the Company and the Purchase Contract Agent shall be entitled to deal
with the Depositary for all purposes of this Agreement (including, without limitation, making Contract Adjustment Payments and receiving approvals, votes or consents hereunder) as the Holder of the Units and the sole holder of the Global
Certificates and shall have no obligation to the Beneficial Owners; provided that a Beneficial Owner may directly enforce against the Company, without any consent, proxy, waiver or involvement of the Depositary of any kind, such Beneficial
Owner’s right to receive a definitive Certificate representing the Units beneficially owned by such Beneficial Owner, as set forth in Section 3.09; 

(c)    to the extent that the provisions of this Section 3.06 conflict with any other provisions of this Agreement,
the provisions of this Section 3.06 shall control; and 
 (d)    except as set forth in the proviso of clause
(b) of this Section 3.06, the rights of the Beneficial Owners shall be exercised only through the Depositary and shall be limited to those established by law and agreements between such Beneficial Owners and the Depositary or the
Depositary Participants. The Depositary will make book-entry transfers among Depositary Participants and receive and transmit payments of Contract Adjustment Payments to such Depositary Participants. 

Transfers of securities evidenced by Global Certificates shall be made through the facilities of the Depositary, and any cancellation of, or
increase or decrease in the number of, such securities (including the creation of Treasury Units, the creation of Cash Settled Units and the recreation of Corporate Units pursuant to Section 3.13, Section 3.14 and Section 3.15,
respectively) shall be accomplished by making appropriate annotations on the Schedule of Increases and Decreases set forth in such Global Certificate. 

Section 3.07. [Reserved]. 

Section 3.08. Appointment of Successor Depositary. If the Depositary elects to discontinue its services as securities depositary
with respect to the Units, the Company may, in its sole discretion, appoint a successor Depositary with respect to the Units. 

Section 3.09. Definitive Certificates. 

If: 

(a)    the Depositary notifies the Company that it is unwilling or unable to continue its services as securities
depositary with respect to the Units and no successor Depositary has been appointed pursuant to Section 3.08 within 90 days after such notice; 

  
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 (b)    the Depositary ceases to be a “clearing agency” registered
under Section 17A of the Exchange Act when the Depositary is required to be so registered to act as the Depositary and so notifies the Company, and no successor Depositary has been appointed pursuant to Section 3.08 within 90 days after such
notice; 
 (c)    to the extent permitted by the Depositary, the Company determines in its discretion that the Global
Certificates shall be exchangeable for definitive Certificates and Beneficial Owners elect to withdraw their interests in the Global Certificates; or 

(d)    a Beneficial Owner seeking to exercise or enforce its rights under the Corporate Units, Treasury Units or Cash
Settled Units requests to exchange such Beneficial Owner’s interest in the Global Certificates for definitive Certificates; 
 then (x) definitive
Certificates shall be prepared by the Company with respect to such Units and delivered to the Purchase Contract Agent and (y) upon surrender of the Global Certificates representing the Units by the Depositary, accompanied by registration
instructions, the Company shall cause definitive Certificates to be delivered to Beneficial Owners in accordance with instructions provided by the Depositary. The Company and the Purchase Contract Agent shall not be liable for any delay in delivery
of such instructions and may conclusively rely on and shall be authorized and protected in relying on, such instructions. Each definitive Certificate so delivered shall evidence Units of the same kind and tenor as the Global Certificate so
surrendered in respect thereof. 
 Section 3.10. Mutilated, Destroyed, Lost and Stolen Certificates. If any mutilated
Certificate is surrendered to the Purchase Contract Agent, the Company shall execute and deliver to the Purchase Contract Agent, and the Purchase Contract Agent shall authenticate, execute on behalf of the Holder, and deliver in exchange therefor, a
new Certificate, evidencing the same number of Corporate Units, Treasury Units or Cash Settled Units, as the case may be, and bearing a Certificate number not contemporaneously outstanding. 

If there shall be delivered to the Company and the Purchase Contract Agent (i) evidence to their satisfaction of the destruction, loss or
theft of any Certificate, and (ii) such security or indemnity as may be required by them to hold each of them and any agent of any of them harmless, then, in the absence of notice to the Company or the Purchase Contract Agent that such
Certificate has been acquired by a protected purchaser, the Company shall execute and deliver to the Purchase Contract Agent, and the Purchase Contract Agent shall authenticate, execute on behalf of the Holder, and deliver to the Holder, in lieu of
any such destroyed, lost or stolen Certificate, a new Certificate, evidencing the same number of Corporate Units, Treasury Units or Cash Settled Units, as the case may be, and bearing a Certificate number not contemporaneously outstanding. 

  
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 Notwithstanding the foregoing, the Company shall not be obligated to execute and deliver to the
Purchase Contract Agent, and the Purchase Contract Agent shall not be obligated to authenticate, execute on behalf of the Holder, and deliver to the Holder, a Certificate on or after the Business Day immediately preceding the earliest of any Early
Settlement Date with respect to such lost, stolen, destroyed or mutilated Certificate, any Fundamental Change Early Settlement Date with respect to such lost, stolen, destroyed or mutilated Certificate, the Purchase Contract Settlement Date or the
Termination Date. In lieu of delivery of a new Certificate, upon satisfaction of the applicable conditions specified above in this Section and receipt of appropriate registration or transfer instructions from such Holder, the Purchase Contract Agent
shall: 
 (a)    if the Purchase Contract Settlement Date, an Early Settlement Date or a Fundamental Change Early
Settlement Date with respect to such lost, stolen, destroyed or mutilated Certificate has occurred, deliver the shares of Common Stock issuable in respect of the Purchase Contracts forming a part of the Units evidenced by such Certificate; and 

(b)    if a Termination Event, Fundamental Change Early Settlement or an Early Settlement with respect to such lost,
stolen, destroyed or mutilated Certificate shall have occurred prior to the Purchase Contract Settlement Date, transfer the Applicable Ownership Interests in the Convertible Preferred Stock, the Treasury Security, the Applicable Ownership Interests
in the Treasury Portfolio or the Treasury Security, as the case may be, underlying such Certificate, in each case subject to the applicable conditions and in accordance with the applicable provisions of Section 3.16 and Article 5 hereof. 

Upon the issuance of any new Certificate under this Section 3.10, the Company and the Purchase Contract Agent may require the payment by
the Holder of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other fees and expenses (including, without limitation, the fees and expenses of the Purchase Contract Agent and its
counsel) connected therewith. 
 Every new Certificate issued pursuant to this Section 3.10 in lieu of any destroyed, lost or stolen
Certificate shall constitute an original additional contractual obligation of the Company and of the Holder in respect of the Units evidenced thereby, whether or not the destroyed, lost or stolen Certificate (and the Units evidenced thereby) shall
be at any time enforceable by anyone, and shall be entitled to all the benefits and be subject to all the obligations of this Agreement equally and proportionately with any and all other Certificates delivered hereunder. 

The provisions of this Section 3.10 are exclusive and shall preclude, to the extent lawful, all other rights and remedies with respect to
the replacement or payment of mutilated, destroyed, lost or stolen Certificates. 

  
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 Section 3.11. Persons Deemed Owners. Prior to due presentment of a Certificate for
registration of transfer, the Company, the Collateral Agent, and the Purchase Contract Agent and its Affiliates and any agent of the Company, the Collateral Agent or the Purchase Contract Agent, may treat the Person in whose name such Certificate is
registered as the owner of the Units evidenced thereby for purposes of (subject to any Record Date or other applicable record date) any payment or distribution with respect to the Applicable Ownership Interests in Convertible Preferred Stock, on the
Treasury Security, on the Applicable Ownership Interests in the Treasury Portfolio or payment of Contract Adjustment Payments and performance of the Purchase Contracts and for all other purposes whatsoever in connection with such Units, whether or
not such payment, distribution, or performance shall be overdue and notwithstanding any notice to the contrary, and neither the Company nor the Purchase Contract Agent, nor any agent of the Company or the Purchase Contract Agent, shall be affected
by notice to the contrary. 
 Neither the Purchase Contract Agent nor the Securities Registrar shall have any responsibility or obligation
to any Beneficial Owner of Units represented by a Global Certificate or other Person with respect to the accuracy of the records of the Depositary or its nominee or of any agent member, with respect to any ownership interest in the Units or with
respect to the delivery to any agent member, Beneficial Owner or other Person (other than the Depositary) of any notice or the payment of any amount, under or with respect to such Units. All notices and communications to be given to the Holders and
all payments to be made to Holders pursuant to the Units and this Agreement shall be given or made only to or upon the order of the registered holders (which shall be the Depositary or its nominee in the case of a Global Certificate). The rights of
Beneficial Owners of the Units underlying a Global Certificate shall be exercised only through the Depositary subject to its applicable procedures. The Purchase Contract Agent and the Securities Registrar shall be entitled to rely and shall be fully
protected in relying upon information furnished by the Depositary with respect to its members, participants and any Beneficial Owners. The Purchase Contract Agent and the Securities Registrar shall be entitled to deal with the Depositary, and any
nominee thereof, that is the registered holder of any Global Certificate for all purposes of this Agreement relating to such Global Certificate (including the payment of principal, premium, if any, and interest and the giving of instructions or
directions by or to the Beneficial Owner in any Units underlying such Global Certificate) as the sole Holder of such Global Certificate and shall have no obligations to the Beneficial Owners thereof. Neither the Purchase Contract Agent nor the
Securities Registrar shall have any responsibility or liability for any acts or omissions of the Depositary with respect to any Units underlying such Global Certificate, for the records of the Depositary, including records in respect of beneficial
ownership interests in respect of Units underlying such Global Certificate, for any transactions between the Depositary and any agent member or between or among the Depositary, any such agent member and/or any Holder or Beneficial Owner of any Units
underlying such Global Certificate, or for any transfers of beneficial interests in any Units underlying such Global Certificate. 

  
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 Notwithstanding the foregoing, with respect to any Global Certificate, nothing contained herein
shall prevent the Company, the Purchase Contract Agent or any agent of the Company or the Purchase Contract Agent, from giving effect to any written certification, proxy or other authorization furnished by the Depositary (or its nominee), as a
Holder, with respect to such Global Certificate, or impair, as between such Depositary and the related Beneficial Owner, the operation of customary practices governing the exercise of rights of the Depositary (or its nominee) as Holder of such
Global Certificate. None of the Company, the Purchase Contract Agent or any agent of the Company or the Purchase Contract Agent will have any responsibility or liability for any aspect of the records relating to or payments made on account of
beneficial ownership interests of a Global Certificate or maintaining, supervising or reviewing any records relating to such beneficial ownership interests. 

Section 3.12. Cancellation. All Certificates surrendered for delivery of shares of Common Stock on or after the Purchase Contract
Settlement Date or in connection with an Early Settlement or a Fundamental Change Early Settlement or for delivery of the Convertible Preferred Stock underlying the Applicable Ownership Interests in Convertible Preferred Stock, the Applicable
Ownership Interests in the Treasury Portfolio, the Cash proceeds of the Treasury Security, as the case may be, after the occurrence of a Termination Event, an Early Settlement or a Fundamental Change Early Settlement, a Collateral Substitution, or
upon the registration of transfer or exchange of a Unit, shall, if surrendered to any Person other than the Purchase Contract Agent, be delivered to the Purchase Contract Agent along with appropriate written instructions regarding the cancellation
thereof and, if not already cancelled, shall be promptly cancelled by it. The Company may at any time deliver to the Purchase Contract Agent for cancellation any Certificates previously authenticated, executed and delivered hereunder that the
Company may have acquired in any manner whatsoever, and all Certificates so delivered shall, upon an Issuer Order, be promptly cancelled by the Purchase Contract Agent. No Certificates shall be authenticated, executed on behalf of the Holder and
delivered in lieu of or in exchange for any Certificates cancelled as provided in this Section 3.12, except as expressly permitted by this Agreement. All cancelled Certificates held by the Purchase Contract Agent shall be disposed of in
accordance with its customary practices. 
 If the Company or any Affiliate of the Company shall acquire any Certificate, such acquisition
shall not operate as a cancellation of such Certificate unless and until such Certificate is delivered to the Purchase Contract Agent cancelled or for cancellation. 

Section 3.13. Creation of Treasury Units by Substitution of Treasury Security. (a) Subject to the conditions set forth in
this Agreement, and subject to the limitations on a Collateral Substitution in connection with an Optional 

  
 38 

 
Remarketing as set forth under Section 5.02(a) below, a Holder of Corporate Units may, at any time from and after the date of this Agreement, other than during a Blackout Period, effect a
Collateral Substitution and separate shares of Convertible Preferred Stock underlying the Pledged Applicable Ownership Interests in Convertible Preferred Stock in respect of such Corporate Units by substituting for such Pledged Applicable Ownership
Interests in Convertible Preferred Stock for which Collateral Substitution is being made, Treasury Securities; provided that Holders may make Collateral Substitutions only in integral multiples of 10 Corporate Units. To effect such
substitution, the Holder must: 
 (i)    Transfer to the Collateral Agent, for credit to the Collateral
Account, one Treasury Security for every 10 Corporate Units with respect to which such substitution is being made; and 

(ii)    Transfer the related Corporate Units to the Purchase Contract Agent accompanied by a notice to the
Purchase Contract Agent, substantially in the form of Exhibit D hereto, whereupon the Purchase Contract Agent shall promptly provide a direction and instruction to the Collateral Agent in writing, substantially in the form of Exhibit G hereto. 

Upon confirmation that the Treasury Securities described in clause (i) above have been credited to the Collateral Account and receipt of
the written instruction to the Collateral Agent described in clause (ii) above, the Collateral Agent shall release such Pledged Applicable Ownership Interests in Convertible Preferred Stock from the Pledge and instruct the Securities
Intermediary by a notice, substantially in the form of Exhibit H hereto, to Transfer the shares of Convertible Preferred Stock underlying such Pledged Applicable Ownership Interests in Convertible Preferred Stock to the Purchase Contract Agent for
distribution to such Holder, free and clear of the Pledge created hereby. Notwithstanding anything to the contrary herein, the Securities Intermediary and the Collateral Agent shall take no action to release such Pledged Applicable Ownership
Interests in shares of Convertible Preferred Stock from the Pledge unless and until the direction is provided by the Purchase Contract Agent substantially in the form of Exhibit G hereto. 

Upon credit to the Collateral Account of the Treasury Securities delivered by a Holder of Corporate Units and receipt of the related
instruction from the Collateral Agent, the Securities Intermediary shall promptly Transfer the shares of Convertible Preferred Stock underlying the appropriate Pledged Applicable Ownership Interests in Convertible Preferred Stock to the Purchase
Contract Agent for distribution to such Holder, free and clear of the Pledge created hereby. 

  
 39 

 Upon receipt of the shares of Convertible Preferred Stock underlying such Pledged Applicable
Ownership Interests in Convertible Preferred Stock, the Purchase Contract Agent shall promptly: 

(A)    cancel the related Corporate Units; 

(B)    Transfer such shares of Convertible Preferred Stock to the Holder (such shares of Convertible
Preferred Stock shall be tradable as separate securities, independent of the concurrently created Treasury Units) in book-entry form, to the extent a Global Preferred Share is registered in the name of the Depositary or its nominee; and 

(C)    deliver Treasury Units in book-entry form, or if applicable, authenticate, execute on behalf of such
Holder and deliver Treasury Units in the form of a Treasury Units Certificate executed by the Company in accordance with Section 3.03 evidencing the same number of Purchase Contracts as were evidenced by the cancelled Corporate Units. 

Holders who elect to separate the shares of Convertible Preferred Stock by substituting Treasury Securities for Applicable Ownership Interests
in Convertible Preferred Stock shall be responsible for any fees or expenses (including, without limitation, fees and expenses payable to the Collateral Agent), in respect of such Collateral Substitution, and neither the Company nor the Purchase
Contract Agent shall be responsible for any such fees or expenses. 
 (b)    In the event a Holder making a Collateral
Substitution pursuant to this Section 3.13 fails to effect a book-entry transfer of the Corporate Units or fails to deliver Corporate Units Certificates to the Purchase Contract Agent after depositing Treasury Securities with the Collateral
Agent, any distributions on the shares of Convertible Preferred Stock underlying the Applicable Ownership Interests in Convertible Preferred Stock constituting a part of such Corporate Units, shall be held in the name of the Purchase Contract Agent
or its nominee in trust for the benefit of such Holder, until such Corporate Units are so transferred or the Corporate Units Certificate is so delivered, as the case may be, or such Holder provides evidence satisfactory to the Company and the
Purchase Contract Agent that such Corporate Units Certificate has been destroyed, lost or stolen, together with any indemnity or security that may be required by the Purchase Contract Agent and the Company. 

(c)    Except as described in Section 5.02, this Section 3.13, Section 3.14 or in connection with an Early
Settlement, a Fundamental Change Early Settlement or a Termination Event, for so long as the Purchase Contract underlying a Corporate Unit remains in effect, such Corporate Unit shall not be separable into its constituent parts, and the rights and
obligations of the Holder in respect of the Convertible Preferred Stock and the Purchase Contract comprising such Corporate Units may be acquired, and may be transferred and exchanged, only as a Corporate Unit. 

  
 40 

 Section 3.14. Creation of Cash Settled Units by Substitution of Cash.
(a) Subject to the conditions set forth in this Agreement, a Holder of Corporate Units may, at any time from and after the date the Company gives the notice of Final Remarketing as set forth in Section 5.02(b)(ii) below and other than
during a Blackout Period, effect a Collateral Substitution and separate the shares of Convertible Preferred Stock underlying the Pledged Applicable Ownership Interests in Convertible Preferred Stock in respect of such Holder’s Corporate Units
by substituting for such Pledged Applicable Ownership Interests in Convertible Preferred Stock for which Collateral Substitution is being made, Cash in an aggregate amount equal to the aggregate number of shares of Convertible Preferred Stock
underlying the Pledged Applicable Ownership Interests in Convertible Preferred Stock multiplied by $1,000; provided that Holders may make Collateral Substitutions only in integral multiples of 10 Corporate Units. To effect such
substitution, the Holder must: 
 (i)    Transfer to the Collateral Agent, for credit to the Collateral
Account, Cash in an amount equal to the aggregate number of shares of Convertible Preferred Stock underlying the Pledged Applicable Ownership Interests in Convertible Preferred Stock for which such Collateral Substitution is made multiplied by
$1,000; and 
 (ii)    Transfer the related Corporate Units to the Purchase Contract Agent
accompanied by a notice to the Purchase Contract Agent, substantially in the form of Exhibit E hereto, whereupon the Purchase Contract Agent shall promptly provide a direction and instruction to the Collateral Agent in writing, substantially in the
form of Exhibit I hereto. 
 Upon confirmation that the Cash described in clause (i) above has been credited to the Collateral Account
and receipt of the written instruction to the Collateral Agent described in clause (ii) above, the Collateral Agent shall release such Pledged Applicable Ownership Interests in Convertible Preferred Stock from the Pledge and instruct the
Securities Intermediary by a notice, substantially in the form of Exhibit J hereto, to Transfer the Convertible Preferred Stock underlying such Pledged Applicable Ownership Interests in Convertible Preferred Stock to the Purchase Contract Agent for
distribution to such Holder, free and clear of the Pledge created hereby. Notwithstanding anything to the contrary herein, the Securities Intermediary and the Collateral Agent shall take no action to release such Pledged Applicable Ownership
Interests in Convertible Preferred Stock from the Pledge unless and until the direction is provided by the Purchase Contract Agent substantially in the form of Exhibit I hereto. 

Upon credit to the Collateral Account of Cash delivered by a Holder of Corporate Units and receipt of the related instruction from the
Collateral Agent, the Securities Intermediary shall promptly Transfer the shares of Convertible Preferred Stock underlying the appropriate Pledged Applicable Ownership Interests in Convertible Preferred Stock to the Purchase Contract Agent for
distribution to such Holder, free and clear of the Pledge created hereby. 

  
 41 

 Upon receipt of the shares of Convertible Preferred Stock underlying such Pledged Applicable
Ownership Interests in Convertible Preferred Stock, the Purchase Contract Agent shall promptly: 

(A)    cancel the related Corporate Units; 

(B)    Transfer such shares of Convertible Preferred Stock to the Holder (such shares of Convertible
Preferred Stock shall constitute Separate Shares of Convertible Preferred Stock and be tradable as separate securities, independent of the concurrently created Cash Settled Units) in book-entry form, to the extent a Global Preferred Share is
registered in the name of the Depositary or its nominee; and 
 (C)    deliver Cash Settled Units in
book-entry form, or if applicable, authenticate, execute on behalf of such Holder and deliver Cash Settled Units in the form of a Cash Settled Units Certificate executed by the Company in accordance with Section 3.03 evidencing the same number
of Purchase Contracts as were evidenced by the cancelled Corporate Units. 
 Holders who elect to separate the shares of Convertible
Preferred Stock by substituting Cash for Applicable Ownership Interests in Convertible Preferred Stock shall be responsible for any fees or expenses (including, without limitation, fees and expenses payable to the Collateral Agent and counsel), in
respect of such Collateral Substitution, and neither the Company nor the Purchase Contract Agent shall be responsible for any such fees or expenses. 

(b)    In the event a Holder making a Collateral Substitution pursuant to this Section 3.14 fails to effect a
book-entry transfer of the Corporate Units or fails to deliver Corporate Units Certificates to the Purchase Contract Agent after depositing Cash with the Collateral Agent, any distributions on the shares of Convertible Preferred Stock underlying the
Applicable Ownership Interests in Convertible Preferred Stock constituting a part of such Corporate Units, shall be held in the name of the Purchase Contract Agent or its nominee in trust for the benefit of such Holder, until such Corporate Units
are so transferred or the Corporate Units Certificate is so delivered, as the case may be, or such Holder provides evidence satisfactory to the Company and the Purchase Contract Agent that such Corporate Units Certificate has been destroyed, lost or
stolen, together with any indemnity or security that may be required by the Purchase Contract Agent and the Company. 

(c)    Except as described in Section 5.02, Section 3.13, this Section 3.14 or in connection with an Early
Settlement, a Fundamental Change Early Settlement or a Termination Event, for so long as the Purchase Contract underlying a Corporate Unit remains in effect, such Corporate Unit shall not be separable into its constituent parts, and the rights and
obligations of the Holder in respect of the Convertible Preferred Stock and the Purchase Contract comprising such Corporate Units may be acquired, and may be transferred and exchanged, only as a Corporate Unit. 

  
 42 

 Section 3.15. Recreation of Corporate Units. (a) Subject to the conditions set
forth in this Agreement, and subject to the limitations on a Collateral Substitution in connection with an Optional Remarketing, as set forth in Section 5.02(a) below, a Holder of Treasury Units may effect a Collateral Substitution and recreate
Corporate Units at any time from and after the date of this Agreement, other than during a Blackout Period; provided that Holders of Treasury Units may only recreate Corporate Units in integral multiples of 10 Treasury Units. To recreate
Corporate Units, the Holder must: 
 (i)    Transfer to the Collateral Agent, for credit to the
Collateral Account, a number of shares of Convertible Preferred Stock or security entitlements with respect thereto equal to the number of Corporate Units to be created divided by 10; and 

(ii)    Transfer the related Treasury Units to the Purchase Contract Agent accompanied by a notice to the
Purchase Contract Agent, substantially in the form of Exhibit D hereto, whereupon the Purchase Contract Agent shall promptly provide a direction and instruction to the Collateral Agent in writing, substantially in the form of Exhibit K hereto. 

Upon confirmation that the shares of Convertible Preferred Stock described in clause (i) above or security entitlements with respect
thereto have been credited to the Collateral Account and receipt of the written instruction from the Purchase Contract Agent described in clause (ii) above, the Collateral Agent shall (i) release the related Treasury Securities and
(ii) instruct the Securities Intermediary by a notice, substantially in the form of Exhibit L hereto, to Transfer the Treasury Securities described above to the Purchase Contract Agent for distribution to such Holder, free and clear of the
Pledge created hereby. 
 The substituted Convertible Preferred Stock will be pledged to the Company through the Collateral Agent to secure
such Holder’s obligation to purchase shares of Common Stock under the related Purchase Contract. 
 Upon credit to the Collateral
Account of shares of Convertible Preferred Stock or security entitlements with respect thereto delivered by a Holder of Treasury Units and receipt of the related instruction from the Collateral Agent, the Securities Intermediary shall promptly
Transfer the Treasury Securities described above to the Purchase Contract Agent for distribution to such Holder, free and clear of the Pledge created hereby. Notwithstanding anything to the contrary herein, the Securities Intermediary and the
Collateral Agent shall take no action to release such Treasury Security from the Pledge unless and until the direction is provided by the Purchase Contract Agent substantially in the form of Exhibit K hereto. 

  
 43 

 Upon receipt of such Treasury Securities, the Purchase Contract Agent shall promptly: 

(A)    cancel the related Treasury Units; 

(B)    Transfer the Treasury Securities to the Holder; and 

(C)    deliver Corporate Units in book-entry form or, if applicable, authenticate, execute on behalf of
such Holder and deliver Corporate Units in the form of a Corporate Units Certificate executed by the Company in accordance with Section 3.03 evidencing the same number of Purchase Contracts as were evidenced by the cancelled Treasury Units.

 Holders who elect to recreate Corporate Units shall be responsible for any fees or expenses (including, without limitation, fees and
expenses payable to the Collateral Agent and its counsel), in respect of the recreation, and neither the Company nor the Purchase Contract Agent shall be responsible for any such fees or expenses. 

(b)    Except as provided in Section 5.02 or in this Section 3.15 or in connection with an Early Settlement, a
Fundamental Change Early Settlement or a Termination Event, for so long as the Purchase Contract underlying a Treasury Unit remains in effect, such Treasury Unit shall not be separable into its constituent parts and the rights and obligations of the
Holder of such Treasury Unit in respect of the interest in the Treasury Security and the Purchase Contract comprising such Treasury Unit may be acquired, and may be transferred and exchanged, only as a Treasury Unit. 

Section 3.16. Transfer of Collateral Upon Occurrence of Termination Event. (a) Upon the occurrence of a Termination Event,
the Company shall notify the Collateral Agent in writing of the occurrence thereof and request that the Collateral Agent request the Securities Intermediary to release the Collateral from the Pledge. Upon receipt by the Collateral Agent of such
written notice or written notice pursuant to Section 5.05 hereof from the Company that a Termination Event has occurred, the Collateral Agent shall promptly release all Collateral from the Pledge and shall promptly instruct the Securities
Intermediary to Transfer: 
 (i)    any shares of Convertible Preferred Stock underlying Pledged
Applicable Ownership Interests in Convertible Preferred Stock or security entitlements with respect thereto or Pledged Applicable Ownership Interests in the Treasury Portfolio; 

(ii)    any Pledged Treasury Securities; 

(iii)    any Pledged Cash; 

  
 44 

 (iv)    any payments by Holders (or the Permitted Investments
of such payments) pursuant to Section 5.02 hereof; and 
 (v)    any Proceeds and all other payments
the Collateral Agent receives in respect of the foregoing, 
 to the Purchase Contract Agent for the benefit of the Holders for distribution to such
Holders, in accordance with their respective interests, free and clear of the Pledge created hereby; provided, however, if any Holder or Beneficial Owner shall be entitled to receive shares of Convertible Preferred Stock in any non-integral number, the Purchase Contract Agent shall request, on behalf of such Holder or Beneficial Owner, pursuant to the Certificate of Amendment that the Company shall issue fractional shares of Convertible
Preferred Stock, each with a liquidation preference of $100, or integral multiples thereof, in exchange for whole shares of Convertible Preferred Stock or integral multiples thereof; and provided further, if any Holder shall be entitled to
receive, with respect to its Pledged Applicable Ownership Interests in the Treasury Portfolio or Treasury Securities, any securities having a principal amount at maturity of less than the minimum denominations thereof, the Purchase Contract Agent
shall dispose of such Pledged Applicable Ownership Interests in the Treasury Portfolio or Treasury Securities for Cash and deliver to such Holder Cash in lieu of delivering the Pledged Applicable Ownership Interests in the Treasury Portfolio or
Treasury Securities, as the case may be. 
 (b)    Notwithstanding anything to the contrary in clause (a) of this
Section 3.16, if such Termination Event shall result from the Company’s becoming a debtor under the Bankruptcy Code, and if the Collateral Agent shall for any reason fail promptly to effectuate the release and Transfer of all shares of
Convertible Preferred Stock underlying Pledged Applicable Ownership Interests in Convertible Preferred Stock, Pledged Applicable Ownership Interests in the Treasury Portfolio, Pledged Cash, Pledged Treasury Securities and payments by Holders (or the
Permitted Investments of such payments) pursuant to Section 5.02 and Proceeds and all other payments received by the Collateral Agent in respect of the foregoing, as the case may be, as provided by this Section 3.16, the Purchase Contract
Agent shall use its best efforts to obtain an opinion of a nationally recognized law firm to the effect that, notwithstanding the Company’s being the debtor in such a bankruptcy case, the Collateral Agent will not be prohibited from releasing
or Transferring the Collateral as provided in this Section 3.16, and shall deliver or cause to be delivered such opinion addressed to the Collateral Agent within ten days after the occurrence of such Termination Event, and if (A) the
Purchase Contract Agent shall be unable to obtain such opinion within ten days after the occurrence of such Termination Event or (B) the Collateral Agent shall continue, after delivery of such opinion, to refuse to effectuate the release and
Transfer of all shares of Convertible Preferred Stock underlying Pledged Applicable Ownership Interests in Convertible Preferred Stock, Pledged Applicable Ownership Interests in the Treasury Portfolio, Pledged Cash, Pledged Treasury Securities and
the payments by Holders (or the Permitted 

  
 45 

 
Investments of such payments) pursuant to Section 5.02 hereof and Proceeds and all other payments received by the Collateral Agent in respect of the foregoing, as the case may be, as
provided in this Section 3.16, then the Purchase Contract Agent shall within fifteen days after the occurrence of such Termination Event commence an action or proceeding in the court having jurisdiction of the Company’s case under the
Bankruptcy Code seeking an order requiring the Collateral Agent to effectuate the release and transfer of all shares of Convertible Preferred Stock underlying Pledged Applicable Ownership Interests in Convertible Preferred Stock, Pledged Applicable
Ownership Interests in the Treasury Portfolio, Pledged Cash, Pledged Treasury Securities and the payments by Holders (or the Permitted Investments of such payments) pursuant to Section 5.02 hereof and Proceeds and all other payments received by
the Collateral Agent in respect of the foregoing, or as the case may be, as provided by this Section 3.16. 

(c)    Upon the occurrence of a Termination Event and the Transfer to the Purchase Contract Agent of the Convertible
Preferred Stock underlying Pledged Applicable Ownership Interests in Convertible Preferred Stock, the appropriate Pledged Applicable Ownership Interests in the Treasury Portfolio, the Pledged Cash or the Pledged Treasury Securities, as the case may
be, pursuant to this Section 3.16, the Purchase Contract Agent shall request transfer instructions with respect to such Convertible Preferred Stock, Applicable Ownership Interests in the Treasury Portfolio, Pledged Cash or Pledged Treasury
Securities, as the case may be, from each Holder by written request, substantially in the form of Exhibit F hereto, mailed to such Holder at its address as it appears in the Security Register. 

(d)    Upon book-entry transfer of the Corporate Units, the Treasury Units or the Cash Settled Units or delivery of a
Corporate Units Certificate, Treasury Units Certificate or Cash Settled Units Certificate to the Purchase Contract Agent with such transfer instructions, the Purchase Contract Agent shall transfer the shares of Convertible Preferred Stock underlying
Pledged Applicable Ownership Interests in Convertible Preferred Stock, the Pledged Applicable Ownership Interests in the Treasury Portfolio, the applicable Treasury Securities or Pledged Cash, as the case may be, underlying such Corporate Units,
Treasury Units or Cash Settled Units, as the case may be, to such Holder by book-entry transfer, or other appropriate procedures, in accordance with such instructions and, in the case of the shares of
Convertible Preferred Stock underlying Pledged Applicable Ownership Interests in Convertible Preferred Stock, in accordance with the terms of the Certificate of Amendment. In the event a Holder of Corporate Units, Treasury Units or Cash Settled
Units fails to effect such transfer or delivery, the shares of Convertible Preferred Stock underlying Pledged Applicable Ownership Interests in Convertible Preferred Stock, the Pledged Applicable Ownership Interests in the Treasury Portfolio, the
applicable Treasury Securities or Pledged Cash, as the case may be, underlying such Corporate Units, Treasury Units or Cash Settled Units, as the case maybe, and any distributions thereon, shall be held in the name of the Purchase Contract Agent or
its nominee in trust for the benefit of such Holder, until the earlier to occur of: 
 (i)    the
transfer of such Corporate Units, Treasury Units or Cash Settled Units or surrender of the Corporate Units Certificate, Treasury Units Certificate or Cash Settled Units Certificate or the receipt by the Company and the Purchase Contract Agent from
such Holder of satisfactory evidence that such Corporate Units Certificate, Treasury Units Certificate or Cash Settled Units Certificate has been destroyed, lost or stolen, together with any indemnity or security that may be required by the Purchase
Contract Agent and the Company; and 

  
 46 

 (ii)    the expiration of the time period specified by the
applicable law governing abandoned property in the state in which the Purchase Contract Agent holds such property. 
 Notwithstanding the
foregoing, the Purchase Contract Agent may opt to deliver to the Company any funds or property held for two years, in which event the Company shall have sole responsibility for compliance with all applicable escheat laws with respect to all funds or
property returned to it pursuant to this sentence. 
 Section 3.17. No Consent to Assumption. Each Holder of a Unit, by
acceptance thereof, shall be deemed expressly to have (a) withheld any consent to the assumption under Section 365 of the Bankruptcy Code or otherwise, of the Purchase Contract by the Company or its trustee, receiver, liquidator or a
person or entity performing similar functions in the event that the Company becomes a debtor under the Bankruptcy Code or subject to other similar state or Federal law providing for reorganization or liquidation and (b) agreed with the Company,
the Purchase Contract Agent, the Collateral Agent, the Custodial Agent and the Securities Intermediary that the transaction contemplated by the Purchase Contract constitutes a “swap agreement” within the meaning of Section 101 (53B)
of the Bankruptcy Code and that each such Holder shall constitute a “swap participant” within the meaning of Section 101 (53C) of the Bankruptcy Code. 

Section 3.18. Substitutions. Whenever a Holder has the right to substitute Cash or shares of Convertible Preferred Stock
underlying Applicable Ownership Interests in Convertible Preferred Stock, as the case may be, or security entitlements for any of them for financial assets held in the Collateral Account, such substitution shall not constitute a novation of the
security interest created hereby. 
 ARTICLE 4 

THE CONVERTIBLE PREFERRED STOCK 

Section 4.01. Payments; Rights to Payments Preserved. (a) The Collateral Agent shall transfer all income and distributions
received by it on account of the shares of Convertible Preferred Stock underlying Pledged Applicable Ownership Interests in Convertible Preferred Stock (if the Pledged 

  
 47 

 
Convertible Preferred Stock is in the name of the Collateral Agent), the Pledged Applicable Ownership Interests in the Treasury Portfolio, the Treasury Securities or Permitted Investments from
time to time held in the Collateral Account to the Purchase Contract Agent for distribution to the applicable Holders as provided in this Agreement and the Purchase Contracts. 

(b)    Any payment on any share of Convertible Preferred Stock underlying Applicable Ownership Interests in Convertible
Preferred Stock or any distribution on any Applicable Ownership Interests in the Treasury Portfolio, as the case may be, which is paid on or immediately prior to any Payment Date shall, subject to receipt thereof by the Purchase Contract Agent from
the Company or from the Collateral Agent as provided in Section 4.01(a) above, be paid on the related Payment Date to the Person in whose name the Corporate Units Certificate (or one or more Predecessor Corporate Units Certificates) of which such
Applicable Ownership Interest in Convertible Preferred Stock or Applicable Ownership Interests in the Treasury Portfolio, as the case may be, forms a part is registered at the close of business on the Record Date for such Payment Date. 

(c)    Each Corporate Units Certificate evidencing Applicable Ownership Interests in Convertible Preferred Stock or
Applicable Ownership Interests in the Treasury Portfolio delivered under this Agreement upon registration of transfer of or in exchange for or in lieu of any other Corporate Units Certificate shall carry the right to accumulated and unpaid dividends
or distributions (if any), and to accumulated and unpaid dividends or distributions (if any), which were carried by Applicable Ownership Interests in Convertible Preferred Stock or Applicable Ownership Interests in the Treasury Portfolio underlying
such other Corporate Units Certificate. 
 (d)    In the case of any Corporate Unit with respect to which (1) Early
Settlement of the underlying Purchase Contract is properly effected pursuant to Section 5.06 hereof, (2) Fundamental Change Early Settlement of the underlying Purchase Contract is properly effected pursuant to Section 5.04 hereof or
(3) a Collateral Substitution is properly effected pursuant to Section 3.13 or Section 3.14, in each case on a date that is after any Record Date and prior to or on the next succeeding Payment Date, distributions on Applicable
Ownership Interests in the Treasury Portfolio (if any) underlying such Corporate Unit otherwise payable on such Payment Date shall be payable on such Payment Date notwithstanding such Early Settlement, Fundamental Change Early Settlement or
Collateral Substitution, and such payment or distributions shall, subject to receipt thereof by the Purchase Contract Agent, be payable to the Person in whose name the Corporate Units Certificate (or one or more Predecessor Corporate Units
Certificates) was registered at the close of business on the Record Date. 
 (e)    In the case of any Treasury Unit
with respect to which (1) Early Settlement of the underlying Purchase Contract is properly effected pursuant to Section 5.06 hereof, (2) Fundamental Change Early Settlement of the underlying Purchase Contract is properly effected
pursuant to Section 5.04 hereof or (3) a 

  
 48 

 
Collateral Substitution is properly effected pursuant to Section 3.15, in each case on a date that is after any Record Date and prior to or on the next succeeding Payment Date, distributions
in respect of the Treasury Securities underlying such Treasury Unit otherwise payable on such Payment Date shall be payable on such Payment Date notwithstanding such Early Settlement, Fundamental Change Early Settlement or Collateral Substitution,
and such payment or distributions shall, subject to receipt thereof by the Purchase Contract Agent, be payable to the Person in whose name the Treasury Units Certificate (or one or more Predecessor Treasury Units Certificates) was registered at the
close of business on the Record Date. 
 (f)    Except as otherwise expressly provided in Section 4.01(d) hereof, in the
case of any Corporate Unit with respect to which Early Settlement or Fundamental Change Early Settlement of the component Purchase Contract is properly effected, or with respect to which a Collateral Substitution has been effected, payments
attributable to the shares of Convertible Preferred Stock underlying Applicable Ownership Interests in Convertible Preferred Stock (if any) or distributions on Applicable Ownership Interests in the Treasury Portfolio, as the case may be, that would
otherwise be payable on or made after the Purchase Contract Settlement Date, Early Settlement Date, Fundamental Change Early Settlement Date or the date of the Collateral Substitution, as the case may be, shall not be payable hereunder to the Holder
of such Corporate Units; provided, however, that to the extent that such Holder continues to hold Separate Shares of Convertible Preferred Stock or Applicable Ownership Interests in the Treasury Portfolio that formerly comprised a part of
such Holder’s Corporate Units, such Holder shall be entitled to receive dividends on such Separate Shares of Convertible Preferred Stock (if any) or distributions on such Applicable Ownership Interests in the Treasury Portfolio. 

Section 4.02. Payments Prior to or on Purchase Contract Settlement Date. (a) Subject to the provisions of Section 5.02,
Section 5.04 and Section 5.06, and except as provided in Section 4.02(b) below, if no Termination Event shall have occurred, all payments received by the Securities Intermediary in respect of (1) the shares of Convertible Preferred
Stock underlying Pledged Applicable Ownership Interests in Convertible Preferred Stock and (2) the Pledged Applicable Ownership Interests in the Treasury Portfolio, shall be credited to the Collateral Account, to be invested in Permitted
Investments until the Purchase Contract Settlement Date and transferred to the Company on the Purchase Contract Settlement Date as provided in Section 5.02 hereof. Any balance remaining in the Collateral Account shall be released from the
Pledge and transferred to the Purchase Contract Agent for the benefit of the applicable Holders for distribution to such Holders in accordance with their respective interests, free and clear of the Pledge created hereby. The Company shall instruct
the Collateral Agent in writing as to the specific Permitted Investments in which any payments made under this Section 4.02 shall be invested, provided, however, that if the Company fails to deliver such instructions by 10:30 a.m. (New
York 

  
 49 

 
City time) on the day such payments are received by the Securities Intermediary, such payments shall remain uninvested, and provided, further, however, that all Permitted
Investments shall mature on or prior to the Purchase Contract Settlement Date. In no event shall the Collateral Agent or the Securities Intermediary be liable for the selection of Permitted Investments or for investment losses incurred thereon.
Neither the Collateral Agent nor the Securities Intermediary shall have any liability in respect of losses incurred based on acting or omitting to act under this Section 4.02(a) pursuant to any direction of the Company or as a result of the failure
of the Company to provide timely written investment direction. Any interest or other income received on such investment and reinvestment of the funds shall become part of the Collateral Account and any losses incurred on such investment and
reinvestment of the funds shall be debited against the Collateral Account. For the avoidance of doubt, no such losses shall affect the Company’s obligations under Article 5 and Holders’ obligations shall remain subject to Section 5.02(j).
It is agreed and understood that the entity serving as Securities Intermediary may earn fees associated with the investments outlined above in accordance with the terms of such investments. In no event shall the Securities Intermediary or the
Collateral Agent be deemed an investment manager or adviser in respect of any selection of investments hereunder. 

(b)    All payments received by the Securities Intermediary in respect of (1) the Convertible Preferred Stock,
(2) the Applicable Ownership Interests in the Treasury Portfolio and (3) the Treasury Securities or security entitlements with respect thereto, that, in each case, have been released from the Pledge pursuant hereto shall be transferred to
the Purchase Contract Agent for the benefit of the applicable Holders for distribution to such Holders in accordance with their respective interests and the terms of this Agreement. 

Section 4.03. Notice and Voting. (a) Subject to Section 4.03(b) hereof, the Purchase Contract Agent may exercise, or refrain
from exercising, any and all voting and other consensual rights pertaining to the Convertible Preferred Stock underlying Pledged Applicable Ownership Interests in Convertible Preferred Stock or any part thereof for any purpose not inconsistent with
the terms of this Agreement; provided that the Purchase Contract Agent shall not exercise or shall not refrain from exercising such right, as the case may be, if, in the judgment of the Purchase Contract Agent, such action would impair or
otherwise have a material adverse effect on the value of all or any of the Convertible Preferred Stock underlying Pledged Applicable Ownership Interests in Convertible Preferred Stock (it being understood and agreed that the Purchase Contract Agent
shall have no affirmative duty to determine whether in its judgment such action would impair or otherwise have a material adverse effect on the value of all or any of the Convertible Preferred Stock underlying Pledged Applicable Ownership Interests
in Convertible Preferred Stock); and provided further that the Purchase Contract Agent shall give the Company and the Collateral Agent at least five Business Days’ prior written notice of the manner in which it intends to
exercise, or its reasons for refraining from exercising, any such right. Upon receipt of any 

  
 50 

 
notices and other communications in respect of any Convertible Preferred Stock underlying Pledged Applicable Ownership Interests in Convertible Preferred Stock, including either notice of any
meeting at which holders of the Convertible Preferred Stock are entitled to vote or the solicitation of consents, waivers or proxies of holders of the Convertible Preferred Stock, the Collateral Agent shall send promptly to the Purchase Contract
Agent such notice or communication, and as soon as reasonably practicable after receipt of a written request therefor from the Purchase Contract Agent, to execute and deliver to the Purchase Contract Agent such proxies and other instruments in
respect of such Convertible Preferred Stock underlying Pledged Applicable Ownership Interests in Convertible Preferred Stock (in commercially reasonable form and substance) as are prepared by the Company and delivered to the Purchase Contract Agent
with respect to the Convertible Preferred Stock underlying Pledged Applicable Ownership Interests in Convertible Preferred Stock. 

(b)    Upon receipt of notice of any meeting at which holders of Convertible Preferred Stock are entitled to vote or upon
any solicitation of consents, waivers or proxies of holders of Convertible Preferred Stock, the Purchase Contract Agent shall, as soon as practicable thereafter, mail, first class, postage pre-paid, to the
Holders of Corporate Units a notice: 
 (i)    containing such information as is contained in the notice
or solicitation; 
 (ii)    stating that each Holder on the record date set by the Purchase Contract
Agent therefor (which, to the extent possible, shall be the same date as the record date set by the Company for determining the holders of shares of Convertible Preferred Stock entitled to vote) shall be entitled to instruct the Purchase Contract
Agent as to the exercise of the voting rights pertaining to the Convertible Preferred Stock underlying Applicable Ownership Interests in Convertible Preferred Stock that are a component of their Corporate Units; and 

(iii)    stating the manner in which such instructions may be given. 

Upon the written request of the Holders of Corporate Units on such record date received by the Purchase Contract Agent at least six days prior
to such meeting or the expiration date of any consent solicitation, the Purchase Contract Agent shall endeavor insofar as practicable to vote or cause to be voted or to consent with respect to, in accordance with the instructions set forth in such
requests, the maximum aggregate number of shares of Convertible Preferred Stock as to which any particular voting or consenting instructions are received. In the absence of specific instructions from the Holder of Corporate Units, the Purchase
Contract Agent shall abstain from voting or consenting with respect to the Convertible Preferred Stock underlying Applicable Ownership Interests in Convertible Preferred Stock that are a component of such Corporate Units. The Company hereby agrees,
if applicable, to solicit Holders of Corporate Units to timely instruct the Purchase Contract Agent as to the exercise of such voting or consenting rights in order to enable the Purchase Contract Agent to vote or consent with respect to such
Convertible Preferred Stock. 

  
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 (c)    The Holders of Corporate Units, the Holders of Cash Settled Units and
the Holders of Treasury Units shall, in their capacity as Holders, have no voting rights, rights to dividends or other distributions or other rights in respect of Common Stock. 

Section 4.04. Payments to Purchase Contract Agent. The Securities Intermediary shall use commercially reasonable efforts to
deliver any payments required to be made by it to the Purchase Contract Agent hereunder to the account designated by the Purchase Contract Agent for such purpose not later than 12:00 p.m. (New York City time) on the Business Day such payment is
received by the Securities Intermediary; provided, however, that if such payment is received on a day that is not a Business Day or after 11:00 a.m. (New York City time) on a Business Day, then the Securities Intermediary shall use
commercially reasonable efforts to deliver such payment to the Purchase Contract Agent no later than 10:30 a.m. (New York City time) on the next succeeding Business Day. 

Section 4.05. Payments Held In Trust. If the Purchase Contract Agent or any Holder shall receive any payments on account of
financial assets credited to the Collateral Account (other than dividends on the Convertible Preferred Stock or distributions on the Applicable Ownership Interests in the Treasury Portfolio) and not released therefrom in accordance with this
Agreement, the Purchase Contract Agent or such Holder shall hold such payments as trustee of an express trust for the benefit of the Company and, upon receipt of an Officer’s Certificate of the Company so directing, promptly deliver such
payments to the Securities Intermediary for credit to the Collateral Account or to the Company for application to the Obligations of the applicable Holder or Holders, and the Purchase Contract Agent and Holders shall acquire no right, title or
interest in any such payments of principal amounts so received. The Purchase Contract Agent shall have no liability under this Section 4.05 unless and until it has been notified in writing that such payment was delivered to it erroneously and
shall have no liability for any action taken, suffered or omitted to be taken prior to its receipt of such notice. 
 ARTICLE 5 

THE PURCHASE CONTRACTS 

Section 5.01. Purchase of Shares of Common Stock. (a) Each Purchase Contract shall obligate the Holder of the related Unit to
purchase, and the Company to issue, on the Purchase Contract Settlement Date at a price equal to the Stated Amount (the “Purchase Price”), a number of shares of Common Stock equal to the Settlement Rate, together with Cash, if
applicable, in lieu of any 

  
 52 

 
fractional share of Common Stock in accordance with Section 5.07, unless an Early Settlement Date, a Fundamental Change Early Settlement or a Termination Event with respect to the Units of
which such Purchase Contract is a part shall have occurred, subject to Section 5.04. 
 The “Settlement Rate” is
determined as follows: 
 (i)    if the Applicable Market Value is less than or equal to $138.10 (subject
to adjustment, as set forth in Section 5.11, the “Reference Price”), the Settlement Rate shall be 0.7241 shares of Common Stock (such Settlement Rate, subject to adjustment as provided in Section 5.11, the “Maximum
Settlement Rate”); and 
 (ii)    if the Applicable Market Value is greater than the Reference
Price, the Settlement Rate shall be a number of shares of Common Stock equal to the Stated Amount, divided by the Applicable Market Value, rounded to the nearest 1/10,000th of a share. 

The Maximum Settlement Rate and the Applicable Market Value (as defined below) are subject to adjustment as provided in Section 5.11
(and, in the case of the Maximum Settlement Rate, shall be rounded upward or downward to. the nearest 1/10,000th of a share). 

(b)    Each Holder of a Corporate Unit, a Treasury Unit or a Cash Settled Unit, by its acceptance of such Unit: 

(i)    irrevocably authorizes the Purchase Contract Agent to enter into and perform the related Purchase
Contract on its behalf as its attorney-in-fact (including, without limitation, the execution of Certificates in the name of and on behalf of such Holder); 

(ii)    agrees to be bound by the terms and provisions of such Unit, including but not limited to the terms
and provisions of the Purchase Contract and this Agreement; 
 (iii)    covenants and agrees to perform
its obligations under such Purchase Contract and under this Agreement for so long as such Holder remains a Holder of a Corporate Unit, a Treasury Unit or a Cash Settled Unit; 

(iv)    consents to the provisions hereof, 

(v)    irrevocably authorizes the Purchase Contract Agent to enter into and perform this Agreement on its
behalf and in its name as its attorney-in-fact; 

(vi)    consents to, and agrees to be bound by, the Pledge of such Holder’s right, title and interest
in and to the Collateral, including the 

  
 53 

 
Applicable Ownership Interests in Convertible Preferred Stock and the Applicable Ownership Interests in the Treasury Portfolio, the Treasury Securities or the Cash pursuant to this Agreement, and
the delivery of the shares of Convertible Preferred Stock underlying such Applicable Ownership Interests in Convertible Preferred Stock by the Purchase Contract Agent to the Collateral Agent; and 

(vii)    for United States federal income tax purposes, agrees to (A) treat its acquisition of the
Corporate Units as an acquisition of the Applicable Ownership Interests in Convertible Preferred Stock and Purchase Contracts constituting the Corporate Units, (B) treat such Applicable Ownership Interests in Convertible Preferred Stock as
equity of the Company and (C) treat itself as the owner of the applicable interests in the Collateral, including the Applicable Ownership Interests in Convertible Preferred Stock, the Applicable Ownership Interests in the Treasury Portfolio,
the Treasury Securities or the Cash, as applicable; 
 provided that upon a Termination Event, the rights of the Holder of such Units under the
Purchase Contract may be enforced without regard to any other rights or obligations. 
 (c)    Each Holder of a
Corporate Unit, a Treasury Unit or a Cash Settled Unit, by its acceptance thereof, further covenants and agrees that to the extent and in the manner provided in Section 5.02 hereof, but subject to the terms thereof, on the Purchase Contract
Settlement Date Proceeds of the Pledged Applicable Ownership Interests in Convertible Preferred Stock, the Pledged Applicable Ownership Interests in the Treasury Portfolio, the Treasury Securities or the Pledged Cash, as applicable, equal to the
Purchase Price shall be paid by the Collateral Agent, upon the written direction of the Company, to the Company in satisfaction of such Holder’s obligations under such Purchase Contract and such Holder shall acquire no right, title or interest
in such Proceeds. 
 (d)    Upon registration of transfer of a Certificate, the transferee shall be bound (without the
necessity of any other action on the part of such transferee) by the terms of this Agreement and the Purchase Contracts underlying such Certificate and the transferor shall be released from the obligations under this Agreement and the Purchase
Contracts underlying the Certificate so transferred. The Company covenants and agrees, and each Holder of a Certificate, by its acceptance thereof, likewise covenants and agrees, to be bound by the provisions of this paragraph. 

(e)    Promptly after the calculation of the Settlement Rate and the Applicable Market Value, the Company shall give the
Purchase Contract Agent notice thereof. All calculations and determinations of the Settlement Rate and the Applicable Market Value and all other calculations and determinations hereunder and any adjustments to the Reference Price shall be made by
the Company or its agent based on their good faith calculations, and the Purchase Contract Agent shall have no responsibility with respect thereto. 

  
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 (f)    If a Market Disruption Event occurs on any Scheduled Trading Day
during the Market Value Averaging Period or any Early Settlement Averaging Period, the Company shall give the Holders and the Purchase Contract Agent notice thereof on the calendar day on which such event occurs. 

Section 5.02. Remarketing; Notices; Separate Shares of Convertible Preferred Stock; Registration; Payment of Purchase Price. 

(a)    Optional Remarketing. (i) Unless a Termination Event has occurred, the Company may elect, at its
option, to engage the Remarketing Agent(s), pursuant to the terms of the Remarketing Agreement, to remarket the aggregate number of shares of Convertible Preferred Stock underlying the aggregate Applicable Ownership Interests in Convertible
Preferred Stock that are components of Corporate Units, along with any Separate Shares of Convertible Preferred Stock, the holders of which have elected to participate in such remarketing pursuant to Section 5.02(e) below over a period of five
consecutive Business Days (each such period, an “Optional Remarketing Period”) selected by the Company that falls during the Optional Remarketing Window. 

(ii)    The Company shall notify the Purchase Contract Agent and the Custodial Agent and request that the
Depositary notify the Depositary Participants holding Corporate Units, Treasury Units and Separate Shares of Convertible Preferred Stock of the Company’s election to conduct an Optional Remarketing no later than fifteen (15) calendar days
prior to the first day of an Optional Remarketing Period. 
 (iii)    If the Company elects to conduct an
Optional Remarketing, by 11:00 a.m. (New York City time) on the Business Day immediately preceding the first day of an Optional Remarketing Period, the Purchase Contract Agent shall notify the Remarketing Agent(s) in writing of the aggregate number
of shares of Convertible Preferred Stock underlying the Pledged Applicable Ownership Interests in Convertible Preferred Stock that are a part of the Corporate Units to be remarketed, and the Custodial Agent shall notify in writing the Remarketing
Agent(s) of the aggregate number of Separate Shares of Convertible Preferred Stock (if any) to be remarketed pursuant to Section 5.02(e) below. Pursuant to, and subject to the terms of, the Remarketing Agreement, upon receipt of such notices from
the Purchase Contract Agent and the Custodial Agent, the Remarketing Agent(s) will use its reasonable best efforts to remarket such shares of Convertible Preferred Stock at the applicable Remarketing Price or more. 

(iv)    If the Remarketing Agent(s) is able to remarket such Convertible Preferred Stock for at least the
applicable Remarketing Price 

  
 55 

 
in any Optional Remarketing in accordance with the Remarketing Agreement (a “Successful Optional Remarketing”), the Collateral Agent shall cause the Securities Intermediary, upon
receipt of written instructions from the Company, to transfer to the Remarketing Agent(s) the remarketed Convertible Preferred Stock underlying the Pledged Applicable Ownership Interests in Convertible Preferred Stock upon confirmation of deposit to
the Collateral Account of proceeds of such Successful Optional Remarketing attributable to such Convertible Preferred Stock, and the Custodial Agent shall transfer the remarketed Separate Shares of Convertible Preferred Stock to the Remarketing
Agent(s) upon confirmation of receipt of proceeds of such Successful Optional Remarketing attributable to such Separate Shares of Convertible Preferred Stock. Settlement shall occur on the Optional Remarketing Settlement Date. Upon deposit in the
Collateral Account of such proceeds attributable to the remarketed Convertible Preferred Stock underlying the Pledged Applicable Ownership Interest in Convertible Preferred Stock, the Collateral Agent shall, upon receipt of written instructions from
the Company, (A) instruct the Securities Intermediary to apply an amount equal to the Treasury Portfolio Purchase Price to purchase the Treasury Portfolio from the Quotation Agent (the amount and issue of the U.S. Treasury securities (or
principal or interest strips thereof) constituting the Treasury Portfolio to be determined by the Remarketing Agent(s)), (B) credit to the Collateral Account the Applicable Ownership Interests in the Treasury Portfolio, and (C) promptly remit
any remaining portion of such proceeds to the Purchase Contract Agent for payment to the Holders of Corporate Units, whereupon the Purchase Contract Agent shall make such payment on the Optional Remarketing Settlement Date to the Holders whose
Convertible Preferred Stock underlying the Pledged Applicable Ownership Interests in Convertible Preferred Stock were remarketed pro rata in accordance with their respective interests. With respect to any Separate Shares of Convertible Preferred
Stock remarketed, the Custodial Agent shall remit such proceeds of the Successful Optional Remarketing received from the Remarketing Agent(s) to Holders of such Separate Shares of Convertible Preferred Stock on the Optional Remarketing Settlement
Date. 
 (v)    Following the occurrence of a Successful Optional Remarketing, the Applicable Ownership
Interests in the Treasury Portfolio (will be substituted as Collateral for the Pledged Applicable Ownership Interests in Convertible Preferred Stock and will be held by the Collateral Agent in accordance with the terms hereof to secure the
Obligation of each Holder of Corporate Units, and the Holders of Corporate Units and the Collateral Agent shall have such security interests, rights and obligations with respect to the Applicable Ownership Interests in the Treasury Portfolio as the
Holder of Corporate Units and the Collateral Agent had in respect of the Pledged Applicable Ownership Interests in Convertible 

  
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Preferred Stock, subject to the Pledge thereof. Any reference in this Agreement or the Certificates to the Pledged Applicable Ownership Interests in Convertible Preferred Stock shall thereupon be
deemed to be a reference to such Applicable Ownership Interests in the Treasury Portfolio. The Company may cause to be made in any Corporate Units Certificates thereafter to be issued such change in phraseology and form (but not in substance) as may
be appropriate to reflect the substitution of the Applicable Ownership Interests in the Treasury Portfolio for the Pledged Applicable Ownership Interests in Convertible Preferred Stock as Collateral. 

(vi)    If, in spite of its reasonable best efforts, the Remarketing Agent(s) cannot remarket the
Convertible Preferred Stock as set forth above during the Optional Remarketing Period at a price not less than the applicable Remarketing Price or a condition precedent set forth in the Remarketing Agreement is not fulfilled, the Optional
Remarketing will be deemed to have been unsuccessful (an “Unsuccessful Optional Remarketing”). Promptly after receipt of written notice from the Company of an Unsuccessful Optional Remarketing, the Custodial Agent will return
Separate Shares of Convertible Preferred Stock to the appropriate Holders. 
 (vii)    If the Company
elects to remarket the Convertible Preferred Stock during the Optional Remarketing Period and a Successful Optional Remarketing has not occurred on or prior to the last day of the Optional Remarketing Period, the Company shall cause a notice of the
Unsuccessful Optional Remarketing to be published before the open of business on the Business Day immediately following the last date of the Optional Remarketing Period. This notice shall be validly published by making a timely release to any
appropriate news agency, including, without limitation, Bloomberg Business News and the Dow Jones News Service. The Company shall similarly cause a notice of a Successful Optional Remarketing to be published before the open of business on the
Business Day immediately following the date of such Successful Optional Remarketing. 
 (b)    Final Remarketing.
(i) Unless a Termination Event or a Successful Optional Remarketing has occurred, in order to dispose of the Convertible Preferred Stock underlying Pledged Applicable Ownership Interests in Convertible Preferred Stock of any Holders of
Corporate Units, the Company shall engage the Remarketing Agent(s), pursuant to the terms of the Remarketing Agreement, to use its reasonable best efforts to remarket such Convertible Preferred Stock, along with any Separate Shares of Convertible
Preferred Stock, the holders of which have elected to participate in the Final Remarketing pursuant to Section 5.02(e) below, during the Final Remarketing Period. 

  
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 (ii)    The Company shall notify the Purchase Contract Agent
and the Custodial Agent and request that the Depositary notify the Depositary Participants holding Corporate Units, Treasury Units and Separate Shares of Convertible Preferred Stock of the Final Remarketing no later than April 21, 2020. In such
notice, the Company shall set forth the dates of the Final Remarketing Period, the applicable procedures for holders of Separate Shares of Convertible Preferred Stock to participate in the Final Remarketing, the applicable procedures for Holders of
Corporate Units to create Treasury Units or Cash Settled Units, the applicable procedures for Holders of Treasury Units to recreate Corporate Units, the applicable procedures for Holders of Corporate Units to effect Early Settlement with respect to
their Purchase Contracts and any other applicable procedures, including the procedures that must be followed by a holder of Corporate Units in the case of an Unsuccessful Final Remarketing if such Holder wishes not to have the Convertible Preferred
Stock underlying its Applicable Ownership Interests in Convertible Preferred Stock automatically delivered to the Company in satisfaction of such Holder’s obligations under the related Purchase Contracts, as described in Section 5.02(b)(vii)
below. 
 (iii)    The Purchase Contract Agent shall notify the Remarketing Agent(s) in writing, promptly
after the close of business on the Business Day immediately preceding the first day of the Final Remarketing Period, of the aggregate number of shares of Convertible Preferred Stock underlying the Pledged Applicable Ownership Interests in
Convertible Preferred Stock that are to be remarketed, and the Custodial Agent shall notify in writing the Remarketing Agent(s) of the aggregate number of Separate Shares of Convertible Preferred Stock (if any) to be remarketed pursuant to Section
5.02(e) below. 
 (iv)    The Company may postpone the Final Remarketing in its absolute discretion on
any day prior to the last Business Day of the Final Remarketing Period. The Company will promptly furnish notice of any such postponement to the Purchase Contract Agent. 

(v)    If the Remarketing Agent(s) is able to remarket such Convertible Preferred Stock and the Separate
Shares of Convertible Preferred Stock (if any) for at least the applicable Remarketing Price in any Final Remarketing in accordance with the Remarketing Agreement (a “Successful Final Remarketing”), the Collateral Agent shall, upon
receipt of written instructions from the Company, cause the Securities Intermediary to transfer to the Remarketing Agent(s) the remarketed Convertible Preferred Stock underlying the Pledged Applicable Ownership Interests in Convertible Preferred
Stock upon confirmation of deposit to the Collateral Account of proceeds of such Successful Final Remarketing attributable to such Convertible Preferred Stock, and the Custodial Agent shall transfer the remarketed Separate Shares of

  
 58 

 
Convertible Preferred Stock to the Remarketing Agent(s) upon confirmation of receipt of proceeds of such Successful Final Remarketing attributable to such Separate Shares of Convertible Preferred
Stock. Settlement shall occur on the Remarketing Settlement Date. Upon deposit in the Collateral Account of such proceeds, the Collateral Agent shall, on the Purchase Contract Settlement Date, in consultation with the Purchase Contract Agent and
upon direction of the Company, instruct the Securities Intermediary to remit a portion of such proceeds equal to $1,000 multiplied by the aggregate number of such shares of Convertible Preferred Stock to satisfy in full the Obligations of
Holders of Corporate Units to pay the Purchase Price for the shares of Common Stock under the related Purchase Contracts, and promptly remit the balance of such proceeds to the Purchase Contract Agent for payment to the Holders of Corporate Units
whose Convertible Preferred Stock underlying the Pledged Applicable Ownership Interests in Convertible Preferred Stock were remarketed, whereupon the Purchase Contract Agent shall make such payment on the Purchase Contract Settlement Date pro rata
in accordance with their respective interests. With respect to any Separate Shares of Convertible Preferred Stock remarketed, the Custodial Agent shall remit such proceeds of the Successful Final Remarketing received from the Remarketing Agent(s)
pro rata to Holders of such Separate Shares of Convertible Preferred Stock on the Purchase Contract Settlement Date. 

(vi)    [Reserved]. 

(vii)    If, in spite of its reasonable best efforts, the Remarketing Agent(s) cannot remarket the
Convertible Preferred Stock during the Final Remarketing Period at a price equal to or greater than the applicable Remarketing Price or a condition precedent set forth in the Remarketing Agreement is not fulfilled, the remarketing will be deemed to
have been unsuccessful (an “Unsuccessful Final Remarketing”). The Company shall cause a notice of the Unsuccessful Final Remarketing to be published before the open of business on the Business Day immediately following the last date
of the Final Remarketing Period. This notice shall be validly published by making a timely release to any appropriate news agency, including, without limitation, Bloomberg Business News and the Dow Jones News Service. 

Following an Unsuccessful Final Remarketing, as of the Purchase Contract Settlement Date, each Holder of any Pledged Applicable
Ownership Interests in Convertible Preferred Stock, unless such Holder has (A) provided written notice to the Purchase Contract Agent in substantially the form of Exhibit P hereto prior to 5:00 p.m. (New York City time) on the second Business
Day immediately preceding the Purchase Contract Settlement Date of its intention to settle the related Purchase Contract with separate cash, whereupon the Purchase Contract Agent shall promptly provide a direction and instruction to the Collateral

  
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Agent in writing, substantially in the form of Exhibit Q hereto, (B) surrendered the Certificate evidencing the Corporate Units (if they are in certificated form) or the related Book-Entry
Interests, to the Purchase Contract Agent prior to 5:00 p.m., New York City time, on the second Business Day immediately preceding the Purchase Contract Settlement Date and (C) on or prior to the Business Day immediately preceding the Purchase
Contract Settlement Date delivered the Purchase Price in Cash to the Securities Intermediary for deposit to the Collateral Account by certified or cashier’s check or wire transfer in immediately available funds payable to or upon the order of
the Securities Intermediary (which settlement may only be effected in integral multiples of 10 Corporate Units), shall be deemed to have automatically delivered the shares of Convertible Preferred Stock underlying such Pledged Applicable Ownership
Interests in Convertible Preferred Stock in full satisfaction of such Holder’s obligation to pay the aggregate Purchase Price for the shares of Common Stock to be issued under the related Purchase Contracts. Following such automatic delivery,
each such Holder’s Obligations, including to pay the Purchase Price for the shares of Common Stock, will be deemed to be satisfied in full, and the Collateral Agent shall, upon receipt of written instructions from the Company, cause the
Securities Intermediary to release the Convertible Preferred Stock underlying such Pledged Applicable Ownership Interests in Convertible Preferred Stock from the Collateral Account and shall promptly transfer such shares of Convertible Preferred
Stock to the Company. 
 Upon (x) receipt by the Collateral Agent of the direction and instruction from the Purchase
Contract Agent in substantially the form of Exhibit Q hereto and (y) payment by such Holder to the Securities Intermediary of the Purchase Price in accordance with the first sentence of the immediately preceding paragraph, in lieu of the
automatic delivery described in such sentence, the Securities Intermediary shall give the Purchase Contract Agent and the Collateral Agent notice of the receipt of such payment in substantially the form of Exhibit R hereto and the Collateral Agent
shall, and is hereby authorized to, or to cause the Securities Intermediary to (X) deposit the separate cash received from such Holder to the Collateral Account and, if the Company so requests and the Collateral Agent and Securities
Intermediary consent thereto, invest such separate cash received in Permitted Investments, (Y) promptly release from the Pledge the Convertible Preferred Stock underlying the Applicable Ownership Interest in Convertible Preferred Stock related
to the Corporate Units as to which such Holder has paid such separate cash and (Z) promptly Transfer all such shares of Convertible Preferred Stock to the Purchase Contract Agent for distribution to such Holder, in each case, free and clear of
the Pledge created hereby, whereupon the Purchase Contract Agent shall Transfer such shares of Convertible Preferred Stock in accordance with written instructions provided by the Holder thereof or, 

  
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if no such instructions are given to the Purchase Contract Agent by the Holder, the Purchase Contract Agent shall hold such shares of Convertible Preferred Stock in the name of the Purchase
Contract Agent or its nominee in trust for the benefit of such Holder until the expiration of the time period specified in the relevant abandoned property laws of the state where such shares of Convertible Preferred Stock are held, after which time
such shares of Convertible Preferred Stock shall be delivered to the Company on request of the Company contained in an Officer’s Certificate. On the Purchase Contract Settlement Date, the Collateral Agent shall, and is hereby authorized to,
(A) instruct the Securities Intermediary to remit to the Company the separate cash amount or such portion of the proceeds of such Permitted Investments as is equal to the aggregate Purchase Price under all Purchase Contracts in respect of which
separate cash has been paid as provided in this Section 5.02(b)(vii), as the case may be, to the Company, and (B) release any amounts in excess of the aggregate Purchase Price to the Purchase Contract Agent for distribution to the Holders who
have paid such separate cash pro rata in proportion to the amount paid by such Holders under this Section 5.02(b)(vii), as adjusted to reflect the period of time that each such Holder’s cash was invested in such Permitted Investments. 

Following an Unsuccessful Final Remarketing, as of the Purchase Contract Settlement Date, each Holder of Treasury Units shall
be deemed to have elected to apply a portion of the Cash constituting such Holder’s Pro Rata Portions of the Treasury Unit Collateral equal to the aggregate Purchase Price for the shares of Common Stock to be issued under the related Purchase
Contracts to satisfy such Holder’s obligation to pay such aggregate Purchase Price in full satisfaction of such Holder’s Obligations under such Purchase Contracts. Following such application, each such Holder’s Obligations, including
to pay the Purchase Price for the shares of Common Stock, will be deemed to be satisfied in full, and the Collateral Agent shall, upon receipt of written instructions from the Company, cause the Securities Intermediary to release such Cash from the
Collateral Account and shall promptly transfer such Cash to the Company. Thereafter, the Collateral Agent shall promptly remit the remaining Cash constituting the Holder’s Pro Rata Portions of the Treasury Unit Collateral in excess of the
aggregate Purchase Price for the shares of Common Stock to be issued under such Purchase Contracts to the Purchase Contract Agent for payment to the Holder of the Treasury Units to which such Pro Rata Portions of the Treasury Unit Collateral relate.

 Following an Unsuccessful Final Remarketing, as of the Purchase Contract Settlement Date, each Holder of Cash Settled
Units shall be deemed to have elected to apply the Cash component of such Holder’s Cash Settled Units to satisfy such Holder’s obligation to pay the aggregate Purchase Price for the shares of Common Stock to be issued under the

  
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related Purchase Contracts in full satisfaction of such Holder’s Obligations under such Purchase Contracts. Following such application, each such Holder’s Obligations, including to pay
the Purchase Price for the shares of Common Stock, will be deemed to be satisfied in full, and the Collateral Agent shall, upon receipt of written instructions from the Company, cause the Securities Intermediary to release such Cash from the
Collateral Account and shall promptly transfer such Cash to the Company. 
 (c)    In connection with an Optional
Remarketing or the Final Remarketing, the dividend rate on all shares of the Convertible Preferred Stock (whether or not remarketed) may be increased by the Company and, if so, such dividends will be payable quarterly in arrears, commencing on the
February 15, May 15, August 15 or November 15 immediately succeeding the applicable Remarketing Settlement Date in accordance with the Certificate of Amendment, when, as and if declared by the Board of Directors; provided
that the first such dividend payment date shall not be earlier than August 15, 2020. In addition, pursuant to the terms of the Certificate of Amendment, the Conversion Rate on all shares of the Convertible Preferred Stock (whether or not
remarketed) may be increased by the Company and the earliest redemption date for the Convertible Preferred Stock may be changed to be a later date. These modifications shall become effective if the Remarketing is successful, without the consent of
the Holders, upon the Remarketing Settlement Date. If a Successful Remarketing occurs, the Company will request the Depositary to notify the Depositary Participants holding shares of Convertible Preferred Stock of any Increased Rate, Modified
Redemption Date, dividend payment dates and other modified terms for the Convertible Preferred Stock on the Business Day following the date of the Successful Remarketing. 

(d)    [Reserved]. 

(e)    Prior to the close of business on the second Business Day immediately preceding an Applicable Remarketing Period,
other than during a Blackout Period, Holders of Separate Shares of Convertible Preferred Stock may elect to have their Separate Shares of Convertible Preferred Stock remarketed in such Remarketing in the same manner as the Convertible Preferred
Stock underlying Applicable Ownership Interests in Convertible Preferred Stock by delivering their Separate Shares of Convertible Preferred Stock along with a notice of this election, substantially in the form of Exhibit M attached hereto, to the
Custodial Agent. After such time, such election shall become an irrevocable election to have such Separate Shares of Convertible Preferred Stock remarketed in all Remarketings to occur in the Applicable Remarketing Period. The Custodial Agent shall
hold the Separate Shares of Convertible Preferred Stock in an account separate from the collateral account in which the Convertible Preferred Stock underlying Applicable Ownership Interests in Convertible Preferred Stock shall be held. Holders
electing to have their Separate Shares of Convertible Preferred Stock remarketed shall also have the right to withdraw the election by written notice to the Collateral Agent, substantially in the form of Exhibit N hereto, at any

  
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time prior to the close of business on the second Business Day immediately preceding the first day of the Applicable Remarketing Period. In the event of a Successful Remarketing during the
Optional Remarketing Period, each holder of Separate Shares of Convertible Preferred Stock that elects to have its Convertible Preferred Stock remarketed shall receive for each such share of Convertible Preferred Stock, its pro rata portion of the
proceeds of the Successful Remarketing, which shall be greater than or equal to the Remarketing Price Per Share. In the event of a Successful Remarketing during the Final Remarketing Period, each holder of Separate Shares of Convertible Preferred
Stock that elects to have its Convertible Preferred Stock remarketed shall receive an amount, for each such share, equal to $1,000 in Cash. 

(f)    For the avoidance of doubt, the right of each holder of the Convertible Preferred Stock underlying the aggregate
Applicable Ownership Interests in Convertible Preferred Stock that are components of Corporate Units and the Separate Shares of Convertible Preferred Stock, the holders of which have elected to participate in any Remarketing, to have such
Convertible Preferred Stock remarketed and sold on any Remarketing Date shall be subject to the conditions that (i)(1) the Remarketing Agent(s) conducts an Optional Remarketing, or (2) in the case of the Final Remarketing, that no Successful
Optional Remarketing has occurred, each pursuant to the terms of this Agreement, (ii) a Termination Event has not occurred prior to such Remarketing Date, (iii) the Remarketing Agent(s) is able to find a purchaser or purchasers for such
Convertible Preferred Stock at the applicable Remarketing Price or more based on the Increased Rates and Modified Redemption Date, if any, and (iv) such purchaser or purchasers deliver the purchase price therefor to the Remarketing Agent(s) as
and when required. 
 (g)    The Company agrees to use its commercially reasonable efforts to ensure that, if required
by applicable law, a registration statement, including a prospectus, under the Securities Act with regard to the full amount of the Convertible Preferred Stock to be remarketed in each Remarketing in each case shall be effective with the Securities
and Exchange Commission in a form that may be used by the Remarketing Agent(s) in connection with such Remarketing (unless such registration statement is not required under the applicable laws and regulations that are in effect at that time or
unless the Company conducts any Remarketing in accordance with an exemption under the securities laws). 

(h)    Holders whose shares of Convertible Preferred Stock are remarketed will not be responsible for the payment of any
Remarketing Fee. 
 (i)    In the case of a Treasury Unit or a Corporate Unit (if Applicable Ownership Interests in the
Treasury Portfolio have replaced the Applicable Ownership Interests in Convertible Preferred Stock as a component of such Corporate Unit), if the pledged Treasury Securities or the appropriate Pledged Applicable Ownership Interests in the Treasury
Portfolio held by the Securities Intermediary mature prior to the Purchase Contract Settlement Date, the principal 

  
 63 

 
amount of the Treasury Securities or the appropriate Pledged Applicable Ownership Interests in the Treasury Portfolio received by the Securities Intermediary shall be placed in the Collateral
Account. On the Purchase Contract Settlement Date, an amount equal to the Purchase Price for all related Purchase Contracts shall be remitted to the Company as payment of such Holder’s Obligations under such Purchase Contracts without receiving
any instructions from the Holder. In the event the sum of the Proceeds from the related pledged Treasury Securities or the related Pledged Applicable Ownership Interests in the Treasury Portfolio is in excess of the aggregate Purchase Price, the
Collateral Agent shall cause the Securities Intermediary to distribute such excess, when received by the Securities Intermediary, to the Purchase Contract Agent for the benefit of the Holder of the related Treasury Units or Corporate Units, as
applicable. 
 (j)    The obligations of the Holders to pay the Purchase Price are
non-recourse obligations and, except to the extent satisfied by Early Settlement, Fundamental Change Early Settlement or settlement with separate cash pursuant to Section 5.02(b)(vii) or terminated upon a
Termination Event, are payable solely out of the proceeds of any Collateral pledged to secure the obligations of the Holders, and in no event will Holders be liable for any deficiency between the proceeds of the disposition of Collateral and the
Purchase Price. 
 (k)    The Company shall not be obligated to issue any shares of Common Stock in respect of a
Purchase Contract or deliver any certificates thereof to the Holder of the related Units unless the Company shall have received, subject to Section 5.02(j), payment for the Common Stock to be purchased thereunder in the manner herein set forth. 

Section 5.03. Issuance of Shares of Common Stock. Unless a Termination Event, an Early Settlement or a Fundamental Change Early
Settlement shall have occurred, on the Purchase Contract Settlement Date, upon receipt of the aggregate Purchase Price payable on all Outstanding Units in accordance with Section 5.02, the Company shall issue and deposit with the Purchase
Contract Agent, for the benefit of the Holders of the Outstanding Units, one or more certificates representing newly issued shares of Common Stock registered in the name of the Purchase Contract Agent (or its nominee) as custodian for the Holders to
which the Holders are entitled hereunder; provided, that, in case such Common Stock is to be delivered through the facilities of DTC or another Depositary, the Company shall cause its stock transfer agent to deliver beneficial interests in
such Common Stock on behalf of the Purchase Contract Agent through such facilities to the Holders entitled thereto. 
 Subject to the
foregoing, upon presentation and surrender of a Certificate, if in certificated form, to the Purchase Contract Agent on or after the Purchase Contract Settlement Date, Early Settlement Date or Fundamental Change Early Settlement Date, as the case
may be, together with settlement instructions thereon duly completed and executed, the Holder of such Certificate shall be entitled to 

  
 64 

 
receive forthwith in exchange therefor a certificate representing that number of newly issued whole shares of Common Stock which such Holder is entitled to receive pursuant to the provisions of
this Article 5 (after taking into account all Units then held by such Holder), and the Certificate so surrendered shall forthwith be cancelled. Such shares shall be registered in the name of the Holder or the Holder’s designee as specified in
the settlement instructions set forth on the reverse of the Certificate provided by the Holder to the Purchase Contract Agent. If any shares of Common Stock issued in respect of a Purchase Contract are to be registered in the name of a Person other
than the Person in whose name the Certificate evidencing such Purchase Contract is registered (but excluding any Depositary or nominee thereof), no such registration shall be made unless and until the Person requesting such registration has paid any
transfer and other taxes (including any applicable stamp taxes) required by reason of such registration in a name other than that of the registered Holder of the Certificate evidencing such Purchase Contract or has established to the satisfaction of
the Company that such tax either has been paid or is not payable. 
 Section 5.04. Fundamental Change Early Settlement. 

(a)    If a Fundamental Change occurs prior to the Purchase Contract Settlement Date, then, following the occurrence of a
Fundamental Change, each Holder of a Unit, subject to the conditions described in this Section 5.04, shall have the right (a “Fundamental Change Early Settlement Right”) to settle (a “Fundamental Change Early
Settlement”) its Purchase Contract early on the Fundamental Change Early Settlement Date at the Settlement Rate determined as if the Applicable Market Value equaled the Stock Price, plus an additional make-whole amount of shares of
Common Stock (the “Make-Whole Shares”), subject to adjustment under Section 5.11, and receive payment of Cash in lieu of any fraction of a share, as provided in Section 5.07; provided that no Fundamental Change
Early Settlement will be permitted pursuant to this Section 5.04(a) unless, at the time such Fundamental Change Early Settlement is effected, there is an effective Registration Statement with respect to any shares of Common Stock to be issued and
delivered in connection with such Fundamental Change Early Settlement, if such a Registration Statement is required (in the view of counsel, which need not be in the form of a written opinion, for the Company) under the Securities Act. If such a
Registration Statement is so required, the Company covenants and agrees to use its commercially reasonable efforts to (x) have in effect a Registration Statement covering the Common Stock and other securities, if any, to be delivered in respect
of the Purchase Contracts being settled and (y) provide a Prospectus in connection therewith, in each case in a form that may be used in connection with such Fundamental Change Early Settlement (it being understood that if there is a material
business transaction or development that has not yet been publicly disclosed, the Company will not be required to provide such a Prospectus, and the right to effect Fundamental Change Early Settlement will not be available, until the Company has
publicly disclosed such transaction or development, provided that the Company will use its commercially reasonable efforts to make such disclosure as soon as it is commercially reasonable to do so). 

  
 65 

 In the event that a Holder seeks to exercise its Fundamental Change Early Settlement Right and a
Registration Statement is required to be effective in connection with the exercise of such right but no such Registration Statement is then effective, the Holder’s exercise of such right shall be void unless and until such a Registration
Statement shall be effective, but such Holder shall receive consideration calculated as described in this Section 5.04(a) when such Registration Statement becomes effective; provided that the Fundamental Change Early Settlement Date shall not
be so postponed beyond the Purchase Contract Settlement Date. If, but for the proviso in the immediately preceding sentence, the Fundamental Change Early Settlement Date would occur on or after the Purchase Contract Settlement Date, the Company
shall deliver to any Holder on the Purchase Contract Settlement Date the applicable number of Make-Whole Shares in addition to a number of shares of Common Stock equal to the Settlement Rate, determined as if the Applicable Market Value were equal
to the Stock Price. 
 If a Holder elects a Fundamental Change Early Settlement of some or all of its Purchase Contracts, such Holder shall
be entitled to receive, on the Fundamental Change Early Settlement Date, the aggregate amount of any accrued and unpaid Contract Adjustment Payments (including deferred Contract Adjustment Payments and Compounded Contract Adjustment Payments
thereon), with respect to such Purchase Contracts (except when the Fundamental Change Early Settlement Date falls after any Record Date and prior to the next succeeding Payment Date, in which case Contract Adjustment Payments shall be payable to the
Person in whose name a Certificate is registered at the close of business on such Record Date relating to the next succeeding Payment Date), payable in the manner set forth in Section 5.09(e). The Company shall pay such amount as a credit against
the amount otherwise payable by such Holder to effect such Fundamental Change Early Settlement. 
 Not less than 20 Business Days prior to
the anticipated effective date of a Fundamental Change, but in any event not later than the earlier of (i) two Business Days following the Company’s becoming aware of the occurrence of a Fundamental Change and (ii) the effective date
of such Fundamental Change, the Company shall provide notice to Holders and the Purchase Contract Agent of the anticipated effective date of such Fundamental Change. In addition, the Company shall provide each Holder and the Purchase Contract Agent
with notice of a Fundamental Change within five Business Days after the effective date of such Fundamental Change, which shall specify: 

(i)    the date on which such Fundamental Change Early Settlement shall occur (such date, the
“Fundamental Change Early Settlement Date”) which shall be at least 10 Business Days after the effective date of such Fundamental Change but, subject to the foregoing, 

  
 66 

 
no later than the earlier of (x) 20 Business Days after the effective date of such Fundamental Change and (y) one Business Day prior to (i) the first day of the commencement of an
Optional Remarketing Period, or (ii) if the Company has not specified an Optional Remarketing Period or the Optional Remarketing is not successful, the first day of the commencement of the Final Remarketing Period or, if the Final Remarketing
is not successful, the Purchase Contract Settlement Date; 
 (ii)    the date by which Holders must
exercise the Fundamental Change Early Settlement Right; 
 (iii)    the applicable Settlement Rate and
number of Make-Whole Shares; 
 (iv)    the amount and kind (per share of Common Stock) of the Cash,
securities and other consideration receivable by the Holder upon Fundamental Change Early Settlement; and 

(v)    and the amount of accrued and unpaid Contract Adjustment Payments (including any deferred Contract
Adjustment Payments thereon), if any, that will be paid to Holders exercising the Fundamental Change Early Settlement Right and the method by which the Company will pay such Contract Adjustment Payments. 

Notwithstanding the foregoing, if the Final Remarketing Period begins less than ten Business Days following the occurrence of a Fundamental Change, the notice
will specify the Purchase Contract Settlement Date as the Fundamental Change Early Settlement Date. 
 Corporate Units Holders and Treasury
Units Holders may only effect Fundamental Change Early Settlement pursuant to this Section 5.04(a) in integral multiples of 10 Corporate Units or Treasury Units, as the case may be. Other than the provisions relating to timing of notice and
settlement, which shall be as set forth above, the provisions of Section 5.01 shall apply with respect to a Fundamental Change Early Settlement pursuant to this Section 5.04(a). 

In order to exercise the right to effect a Fundamental Change Early Settlement with respect to any Purchase Contracts, the Holder of the
Certificate evidencing Units shall deliver, no later than the close of business on the second Business Day immediately preceding the Fundamental Change Early Settlement Date, such Certificate to the Purchase Contract Agent at the Corporate Trust
Office duly endorsed for transfer to the Company or in blank with the form of Election to Settle Early on the reverse thereof duly completed and accompanied by payment (payable to the Company in immediately available funds) in an amount equal to the
aggregate Purchase Price corresponding to the number of Purchase Contracts with respect to which the Holder has elected to effect Fundamental Change Early Settlement. In the event that Units are held by or

  
 67 

 
through DTC or another Depositary, the exercise of the right to effect Fundamental Change Early Settlement shall occur in conformity with the standing arrangements between DTC or such Depositary
and the Purchase Contract Agent. 
 Upon receipt of such Certificate and payment of such funds, the Purchase Contract Agent shall pay the
Company from such funds the related Purchase Price pursuant to the terms of the related Purchase Contracts, and notify the Collateral Agent, pursuant to a notice in substantially the form of Exhibit O hereto, in writing that all the conditions
necessary for a Fundamental Change Early Settlement by a Holder have been satisfied pursuant to which the Purchase Contract Agent has received from such Holder, and paid to the Company as confirmed in writing by the Company, the related Purchase
Price. 
 Upon receipt by the Collateral Agent of the written notice from the Purchase Contract Agent set forth in the immediately preceding
paragraph, the Collateral Agent shall release from the Pledge, (1) the Convertible Preferred Stock underlying the Pledged Applicable Ownership Interests in Convertible Preferred Stock or the Pledged Applicable Ownership Interests in the
Treasury Portfolio or (2) the applicable Treasury Securities corresponding to the number of Purchase Contracts as to which such Holder of Treasury Units has elected to effect a Fundamental Change Early Settlement, and shall instruct the
Securities Intermediary to Transfer all such Pledged Applicable Ownership Interests in the Treasury Portfolio or Convertible Preferred Stock underlying Pledged Applicable Ownership Interests in Convertible Preferred Stock or applicable Proceeds of
the Treasury Securities, as the case may be, to the Purchase Contract Agent for distribution to such Holder, in each case free and clear of the Pledge created hereby. 

If a Holder properly effects an effective Fundamental Change Early Settlement in accordance with the provisions of this Section 5.04(a), the
Company will deliver (or will cause and instruct the Collateral Agent in writing to deliver) to the Holder on the Fundamental Change Early Settlement Date for each Purchase Contract with respect to which such Holder has elected Fundamental Change
Early Settlement: 
 (i)    a number of shares of Common Stock (or Exchange Property Units, if
applicable) equal to the Settlement Rate plus the Make-Whole Shares, if any; 
 (ii)    the shares
of Convertible Preferred Stock, the Applicable Ownership Interests in the Treasury Portfolio or applicable Proceeds of the Treasury Securities, as the case may be, related to each Unit with respect to which the Holder is effecting a Fundamental
Change Early Settlement, free and clear of the Pledge created hereby; and 
 (iii)    if so required
under the Securities Act, a Prospectus as contemplated by this Section 5.04(a). 

  
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 For the avoidance of doubt, any accrued and unpaid Contract Adjustment Payments (including any
deferred Contract Adjustment Payments and Compounded Contract Adjustment Payments thereon) with respect to such Purchase Contract to, but excluding, the Fundamental Change Early Settlement Date shall be due and payable by the Company on the
Fundamental Change Early Settlement Date for such Purchase Contract, subject to Section 5.09(e). 
 The Corporate Units or the Treasury
Units of the Holders who do not elect Fundamental Change Early Settlement in accordance with the foregoing will continue to remain outstanding and be subject to settlement on the Purchase Contract Settlement Date in accordance with the terms hereof.

 (b)    The number of Make-Whole Shares per Purchase Contract applicable to Fundamental Change Early Settlement shall
be determined by reference to the table below, based on the date on which the Fundamental Change occurs or becomes effective (the “Effective Date”) and the Stock Price in the such Fundamental Change. The “Stock
Price” shall be: 
 (i)    in the case of a Fundamental Change described in clause (i) of
the definition thereof where the holders of the Common Stock receive only Cash in the Fundamental Change, the Cash amount paid per share of the Common Stock; and 

(ii)    in all other cases, the average of the Closing Prices of the Common Stock for the 10 consecutive
Trading Days immediately prior to but not including the Effective Date. 
 The Stock Prices set forth in the first row of the table (i.e.,
the column headers) shall be adjusted upon the occurrence of any event requiring an anti-dilution adjustment to the Maximum Settlement Rate pursuant to Section 5.11 in a manner inversely proportional to the adjustments to the Maximum Settlement
Rate. Each of the Make-Whole Share amounts in the table will be subject to adjustment in the same manner and at the same time as the Maximum Settlement Rate as set forth in Section 5.11. 

 

																																																																					
	 Stock Price
	 
	 Effective Date
	  	$	30.00	 	  	$	60.00	 	  	$	80.00	 	  	$	100.00	 	  	$	120.00	 	  	$	138.10	 	  	$	142.50	 	  	$	150.00	 	  	$	162.27	 	  	$	180.00	 	  	$	200.00	 	  	$	220.00	 	  	$	240.00	 	  	$	260.00	 	  	$	280.00	 	  	$	300.00	 	  	$	350.00	 
	 May 17, 2017
	  	 	0.4829	 	  	 	0.2211	 	  	 	0.1459	 	  	 	0.0866	 	  	 	0.0363	 	  	 	0.0000	 	  	 	0.0150	 	  	 	0.0388	 	  	 	0.0739	 	  	 	0.0578	 	  	 	0.0457	 	  	 	0.0377	 	  	 	0.0319	 	  	 	0.0274	 	  	 	0.0236	 	  	 	0.0204	 	  	 	0.0136	 
	 May 15, 2018
	  	 	0.3246	 	  	 	0.1498	 	  	 	0.1015	 	  	 	0.0601	 	  	 	0.0177	 	  	 	0.0000	 	  	 	0.0000	 	  	 	0.0218	 	  	 	0.0572	 	  	 	0.0423	 	  	 	0.0322	 	  	 	0.0262	 	  	 	0.0222	 	  	 	0.0191	 	  	 	0.0165	 	  	 	0.0142	 	  	 	0.0094	 
	 May 15, 2019
	  	 	0.1643	 	  	 	0.0761	 	  	 	0.0535	 	  	 	0.0343	 	  	 	0.0051	 	  	 	0.0000	 	  	 	0.0000	 	  	 	0.0068	 	  	 	0.0402	 	  	 	0.0250	 	  	 	0.0172	 	  	 	0.0138	 	  	 	0.0117	 	  	 	0.0100	 	  	 	0.0086	 	  	 	0.0074	 	  	 	0.0049	 
	 May 15, 2020
	  	 	0.0000	 	  	 	0.0000	 	  	 	0.0000	 	  	 	0.0000	 	  	 	0.0000	 	  	 	0.0000	 	  	 	0.0000	 	  	 	0.0000	 	  	 	0.0000	 	  	 	0.0000	 	  	 	0.0000	 	  	 	0.0000	 	  	 	0.0000	 	  	 	0.0000	 	  	 	0.0000	 	  	 	0.0000	 	  	 	0.0000	 

 The actual Stock Price and Effective Date applicable to a Fundamental Change may not be set forth on the
table, in which case: 
 (i)    if the actual Stock Price is between two Stock Prices on the table or the
actual Effective Date is between two Effective Dates on the table, the amount of Make–Whole Shares shall be determined by a 

  
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straight-line interpolation between the Make–Whole Share amounts set forth for the two Stock Prices and the two Effective Dates on the table based on a
365-day year, as applicable; 
 (ii)    if the Stock Price
exceeds $350.00 per share (subject to adjustment in the same manner as the Stock Prices set forth in the table above), then the Make–Whole Share amount shall be zero; and 

(iii)    if the Stock Price is less than $30.00 per share (subject to adjustment in the same manner as the
Stock Prices set forth in the table above) (the “Minimum Stock Price”), then the Make–Whole Share amount shall be determined as if the Stock Price equaled the Minimum Stock Price, using straight-line interpolation, as described
above, if the actual Effective Date is between two Effective Dates on the table. 
 Notwithstanding the foregoing, in no event will the
total number of shares of Common Stock issuable upon settlement of a Purchase Contract exceed 1.2070 shares per Purchase Contract (subject to adjustment in the same manner and at the same time as the Maximum Settlement Rate as set forth in
Section 5.11). 
 (c)    All calculations and determinations pursuant to this Article 5 shall be made by the
Company or its agent, and the Purchase Contract Agent, the Collateral Agent, the Custodial Agent and the Securities Intermediary shall have no responsibility for making, verifying or confirming such calculations or determinations or otherwise with
respect to such calculations or determinations under this Agreement or otherwise, and may conclusively presume that such calculations and determinations are correct and conform to the requirements of this Agreement. 

Section 5.05. Termination Event; Notice. The Purchase Contracts and all obligations and rights of the Company and the Holders
thereunder, including, without limitation, the rights of the Holders to receive and the obligation of the Company to pay any Contract Adjustment Payments (including any deferred Contract Adjustment Payments and Compounded Contract Adjustment
Payments thereon), and the rights and obligations of Holders to purchase Common Stock, shall immediately and automatically terminate, without the necessity of any notice or action by any Holder, the Purchase Contract Agent or the Company, if, prior
to or on the Purchase Contract Settlement Date, a Termination Event shall have occurred. 
 Upon and after the occurrence of a Termination
Event, the Units shall thereafter represent the right to receive the shares of Convertible Preferred Stock underlying the Applicable Ownership Interests in Convertible Preferred Stock, the Treasury Securities, the Cash or the Applicable Ownership
Interests in the Treasury Portfolio, as the case may be, forming part of such Units, in accordance with the provisions of Section 3.16 hereof. Upon the occurrence of a Termination Event, (i) the Company shall promptly but in no event later
than two Business 

  
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Days thereafter give written notice to the Purchase Contract Agent, the Collateral Agent and the Holders, at their addresses as they appear in the Security Register and (ii) the Collateral
Agent shall, in accordance with Section 3.16 hereof, release the shares of Convertible Preferred Stock underlying the Pledged Applicable Ownership Interests in Convertible Preferred Stock or the Applicable Ownership Interests in the Treasury
Portfolio forming a part of each Corporate Unit, the Pro Rata Portion of the Treasury Unit Collateral forming a part of each Treasury Unit or the Cash forming a part of each Cash Settled Unit, as the case may be, from the Pledge. 

Section 5.06. Early Settlement. (a) Subject to and upon compliance with the provisions of this Section 5.06, at the
option of the Holder thereof, at any time prior to the close of business on the Scheduled Trading Day immediately preceding the first day of the Market Value Averaging Period, other than during a Blackout Period, Purchase Contracts underlying Units
may be settled early (“Early Settlement”); provided that no Early Settlement will be permitted pursuant to this Section 5.06 unless, at the time such Early Settlement is effected, there is an effective Registration
Statement with respect to the shares of Common Stock and other securities, if any, to be issued and delivered in connection with such Early Settlement, if such a Registration Statement is required (in the view of counsel, which need not be in the
form of a written opinion, for the Company) under the Securities Act. If such a Registration Statement is so required, the Company covenants and agrees to use its commercially reasonable efforts to (i) have in effect a Registration Statement
covering those shares of Common Stock and other securities, if any, to be delivered in respect of the Purchase Contracts being settled and (ii) provide a Prospectus in connection therewith, in each case in a form that may be used in connection
with such Early Settlement (it being understood that if there is a material business transaction or development that has not yet been publicly disclosed, the Company will not be required to provide such a Prospectus, and the right to effect Early
Settlement will not be available, until the Company has publicly disclosed such transaction or development, provided that the Company will use its commercially reasonable efforts to make such disclosure as soon as it is commercially
reasonable to do so). 
 (b)    In order to exercise the right to effect Early Settlement with respect to any Purchase
Contracts, the Holder of the Certificate evidencing Units (in the case of Certificates in definitive certificated form) shall deliver, at any time prior to the close of business on the Scheduled Trading Day immediately preceding the first day of the
Market Value Averaging Period, other than during a Blackout Period, such Certificate to the Purchase Contract Agent at the Corporate Trust Office duly endorsed for transfer to the Company or in blank with the form of Election to Settle Early on the
reverse thereof duly completed and accompanied by payment (payable to the Company in Cash in immediately available funds) in an amount (the “Early Settlement Amount”) equal to the sum of: 

(i)    the aggregate Purchase Price for the number of Purchase Contracts with respect to which the Holder
has elected to effect Early Settlement, plus, 

  
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 (ii)    if the Early Settlement Date with respect to any
Purchase Contracts occurs during the period from the close of business on any Record Date next preceding any Payment Date to the open of business on such Payment Date, an amount equal to the Contract Adjustment Payments payable on such Payment Date
with respect to such Purchase Contracts, unless the Company has elected to defer the Contract Adjustment Payments payable on such Payment Date. 

In the case of Book-Entry Interests, each Beneficial Owner electing Early Settlement must deliver the Early Settlement Amount to the Purchase
Contract Agent along with a facsimile of the Election to Settle Early form duly completed, make book-entry transfer of such Book-Entry Interests and comply with the applicable procedures of the Depositary by the applicable time set forth above in
this Section 5.06. In addition, so long as the Units are evidenced by one or more Global Certificates deposited with the Depositary, procedures for Early Settlement will also be governed by standing arrangements between the Depositary and the
Purchase Contract Agent. 
 Except as provided in Section 5.09(d), no payment shall be made upon Early Settlement of any Purchase Contract
on account of any Contract Adjustment Payments (other than deferred Contract Adjustment Payments and any Compounded Contract Adjustment Payments thereon) accrued on such Purchase Contract or on account of any dividends on the Common Stock issued
upon such Early Settlement. If the foregoing requirements are first satisfied with respect to Purchase Contracts underlying any Units at or prior to the close of business on a Business Day, such day shall be the “Early Settlement
Date” with respect to such Units and if such requirements are first satisfied after the close of business on a Business Day or on a day that is not a Business Day, the Early Settlement Date with respect to such Units shall be the next
succeeding Business Day. 
 Upon the receipt of such Certificate, Election to Settle Early form duly completed and Early Settlement Amount
from the Holder, the Purchase Contract Agent shall pay to the Company such Early Settlement Amount, the receipt of which payment the Company shall confirm in writing. The Purchase Contract Agent shall then notify the Collateral Agent in writing that
(A) such Holder has elected to effect an Early Settlement, which notice shall set forth the number of such Purchase Contracts as to which such Holder has elected to effect Early Settlement, (B) the Purchase Contract Agent has received from
such Holder, and paid to the Company as confirmed in writing by the Company, the related Early Settlement Amount and (C) all conditions to such Early Settlement expressly set forth in this Agreement have been satisfied. 

  
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 Upon receipt by the Collateral Agent of the written notice from the Purchase Contract Agent set
forth in the preceding paragraph, within three Business Days following the Early Settlement Date, the Collateral Agent shall release from the Pledge, (1) in the case of a Holder of Corporate Units, the shares of Convertible Preferred Stock
underlying the Pledged Applicable Ownership Interests in Convertible Preferred Stock, or the Pledged Applicable Ownership Interests in the Treasury Portfolio, as the case may be, relating to the Purchase Contracts to which Early Settlement is
effected, or (2) in the case of a Holder of Treasury Units, the Proceeds of the applicable Pro Rata Portions of the Treasury Securities corresponding to the number of Purchase Contracts as to which such Holder has elected to effect Early
Settlement, and shall instruct the Securities Intermediary to Transfer all such Pledged Applicable Ownership Interests in the Treasury Portfolio or shares of Convertible Preferred Stock underlying such Pledged Applicable Ownership Interests in
Convertible Preferred Stock or Proceeds of the Treasury Securities, as the case may be, to the Purchase Contract Agent for distribution to such Holder, in each case free and clear of the Pledge created hereby. 

Holders of Corporate Units and Treasury Units may only effect Early Settlement pursuant to this Section 5.06 in integral multiples of 10
Corporate Units or 10 Treasury Units, as the case may be. 
 Upon Early Settlement of the Purchase Contracts, the rights of the Holders to
receive and the obligation of the Company to pay any Contract Adjustment Payments (including any deferred Contract Adjustment Payments and Compounded Contract Adjustment Payments thereon) with respect to such Purchase Contracts shall immediately and
automatically terminate, except as provided in Section 5.09(d). 
 (c)    Upon Early Settlement of Purchase Contracts by
a Holder of the related Units, the Company shall issue, and the Holder shall be entitled to receive, a number of shares of Common Stock equal to 85% of the Settlement Rate calculated as set forth in Section 5.01 for each Purchase Contract as to
which Early Settlement is effected, as if the Applicable Market Value for such purpose were equal to the average of the Daily VWAPs of the Common Stock during the Early Settlement Averaging Period (subject to Section 5.12). 

(d)    No later than the third Business Day after the last Trading Day of the Early Settlement Averaging Period, the
Company shall cause the shares of Common Stock issuable upon Early Settlement of Purchase Contracts to be issued and delivered, accompanied with a payment in respect of the aggregate deferred Contract Adjustment Payments (including Compounded
Contract Adjustment Payments thereon), if any, through the Payment Date immediately preceding such Early Settlement Date, payable as set forth in Section 5.09(e) 

(e)    Upon Early Settlement of any Purchase Contracts, and subject to receipt of shares of Common Stock from the Company
and the Convertible 

  
 73 

 
Preferred Stock, the Applicable Ownership Interest in the Treasury Portfolio or the applicable Proceeds of the Treasury Securities, as the case may be, from the Securities Intermediary, as
applicable, the Purchase Contract Agent shall, in accordance with the instructions provided by the Holder thereof on the applicable form of Election to Settle Early on the reverse of the Certificate evidencing the related Units: 

(i)    transfer to the Holder the Convertible Preferred Stock, the Applicable Ownership Interest in the
Treasury Portfolio or the applicable Proceeds of the Treasury Securities related to such Units, as the case may be, 

(ii)    deliver to the Holder a certificate or certificates for the full number of shares of Common Stock
issuable upon such Early Settlement, and 
 (iii)    if so required under the Securities Act, deliver a
Prospectus for the shares of Common Stock issuable upon such Early Settlement as contemplated by Section 5.06(a). 

(f)    In the event that Early Settlement is effected with respect to Purchase Contracts underlying less than all the
Units evidenced by a Certificate, upon such Early Settlement the Company shall execute and the Purchase Contract Agent shall execute on behalf of the Holder, authenticate and deliver to the Holder thereof, at the expense of the Company, a
Certificate evidencing the Units as to which Early Settlement was not effected. 
 Section 5.07. No Fractional Shares. No
fractional shares or scrip representing fractional shares of Common Stock shall be issued or delivered upon settlement on the Purchase Contract Settlement Date, or upon Early Settlement or Fundamental Change Early Settlement of any Purchase
Contracts. Instead of any fractional share of Common Stock that would otherwise be deliverable upon settlement of any Purchase Contracts, the Company, through the Purchase Contract Agent, shall make a Cash payment in respect of such fractional
interest in an amount equal to the percentage of a whole share represented by such fractional share multiplied by the Closing Price of the Common Stock on the Trading Day immediately preceding the Purchase Contract Settlement Date (or
(x) in the case of any Early Settlement, the Closing Price of the Common Stock on the Trading Day immediately preceding the relevant date for delivery of the shares of Common Stock issuable upon such Early Settlement and (y) in the case of
a Fundamental Change Early Settlement, the Closing Price of the Common Stock on the Trading Day immediately preceding the relevant Fundamental Change Early Settlement Date). If, however, a Holder surrenders for settlement more than one Purchase
Contract on the same date, then the number of full shares of Common Stock issuable pursuant to such Purchase Contracts shall be computed based upon the aggregate number of Purchase Contracts surrendered on such date, or if the Corporate Units are
held in global book-entry form, based on such other aggregate number of Purchase Contracts being surrendered by the Holder on the same date as DTC may otherwise require DTC. 

  
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 Section 5.08. Charges and Taxes. The Company will pay all stock transfer and similar
taxes attributable to the initial issuance and delivery of the shares of Common Stock pursuant to the Purchase Contracts; provided, however, that the Company shall not be required to pay any such tax or taxes which may be payable in respect
of any exchange of or substitution for a Certificate evidencing a Unit or any issuance of a share of Common Stock in a name other than that of the registered Holder of a Certificate surrendered in respect of the Units evidenced thereby, other than
in the name of the Purchase Contract Agent, as custodian for such Holder, and the Company shall not be required to issue or deliver such share certificates or Certificates unless or until the Person or Persons requesting the transfer or issuance
thereof shall have paid to the Company the amount of such tax or shall have established to the satisfaction of the Company that such tax has been paid. 

Section 5.09. Contract Adjustment Payments. (a) Subject to Section 5.09(d), the Company shall pay, on each Payment Date, the
Contract Adjustment Payments payable in respect of each Purchase Contract for the period from and including the immediately preceding Payment Date on which Contract Adjustment Payments were paid (or if none, May 17, 2017) to but excluding such
Payment Date to the Person in whose name a Certificate is registered at the close of business on the Record Date relating to such Payment Date. Contract Adjustment Payments shall be payable in cash, by delivery of shares of Common Stock or through
any combination of cash and shares of Common Stock, as set forth in Section 5.09(e). Contract Adjustment Payments on Global Certificates payable in cash shall be made by wire transfer of immediately available funds to the Depositary. If the
book-entry system for the Units has been terminated, Contract Adjustment Payments payable in cash shall be payable at the office or agency of the Purchase Contract Agent in the Borough of Manhattan, City of New York, New York maintained for that
purpose or, at the option of the Company, by check mailed to the address of the Person entitled thereto at such Person’s address as it appears on the Security Register as of the Record Date, or by wire transfer to the account designated by such
Person by a prior written notice to the Purchase Contract Agent, given at least ten calendar days prior to the Payment Date. Contract Adjustment Payments payable for any period will be computed on the basis of a
360-day year of twelve 30-day months. The Contract Adjustment Payments will accrue from May 17, 2017. 

(b)    Upon the occurrence of a Termination Event, the Company’s obligation to pay future Contract Adjustment
Payments and any deferred Contract Adjustment Payments (including Compounded Contract Adjustment Payments thereon) shall cease. 

(c)    Each Certificate delivered under this Agreement upon registration of transfer of or in exchange for or in lieu of
(including as a result of a Collateral 

  
 75 

 
Substitution or the recreation of Corporate Units) any other Certificate shall carry the right to accrued and unpaid Contract Adjustment Payments (including Compounded Contract Adjustment
Payments thereon), which right was carried by the Purchase Contracts underlying such other Certificates. 
 (d)    In
the case of any Unit with respect to which Early Settlement or Fundamental Change Early Settlement of the underlying Purchase Contract is effected on a date that is after any Record Date and prior to or on the next succeeding Payment Date, Contract
Adjustment Payments and deferred Contract Adjustment Payments (including Compounded Contract Adjustment Payments thereon) otherwise payable on such Payment Date shall be payable on such Payment Date notwithstanding such Early Settlement or
Fundamental Change Early Settlement, and such Contract Adjustment Payments and deferred Contract Adjustment Payments (including Compounded Contract Adjustment Payments thereon) shall be paid to the Person in whose name the Certificate evidencing
such Unit is registered at the close of business on such Record Date. Except as otherwise expressly provided in the immediately preceding sentence, in the case of any Unit with respect to which Early Settlement of the underlying Purchase Contract is
effected, Contract Adjustment Payments that would otherwise have accrued after the most recent Payment Date with respect to such Purchase Contract shall not be payable. 

(e)    (i) Subject to the limitations described below, any Contract Adjustment Payment (including Compounded Contract
Adjustment Payments thereon or any portion of any Contract Adjustment Payment), whether or not for a current Payment Date or in respect of any prior Payment Date, may be paid by the Company, as determined in its sole discretion: 

(A)    in cash; 

(B)    by delivery of shares of Common Stock; or 

(C)    through any combination of cash and shares of Common Stock. 

(ii)    Each Contract Adjustment Payment shall be made in cash, except to the extent the Company timely
elects to make all or any portion of such Contract Adjustment Payment in shares of Common Stock. The Company shall give notice to Holders of any such election and the portions of such Contract Adjustment Payment that will be made in cash and in
Common Stock no later than eight Scheduled Trading Days prior to the Payment Date for such Contract Adjustment Payment. 

(iii)    Any shares of Common Stock issued in payment or partial payment of a Contract Adjustment Payment
shall be valued for such purpose at the applicable Five-Day Average Price, multiplied by 97%. 

  
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 (iv)    No fractional shares of Common Stock shall be
delivered by the Company to Holders in payment or partial payment of a Contract Adjustment Payment. A cash adjustment shall be paid by the Company to each Holder that would otherwise be entitled to receive a fraction of a share of Common Stock based
on (x) the Five-Day Average Price and (y) the aggregate number of Units held by such Holder (or if the Units are held in global book-entry form, based on the applicable procedures of DTC for
determining such number of Units). 
 (v)    To the extent that the Company, in its reasonable judgment,
determines that a Registration Statement is required in connection with the issuance of, or for resales of, Common Stock issued as a Contract Adjustment Payment, including Contract Adjustment Payments paid in connection with a Fundamental Change
Early Settlement, the Company shall, to the extent such a Registration Statement is not currently filed and effective, use its reasonable best efforts to file and maintain the effectiveness of such a Registration Statement until the earlier of such
time as all such shares of Common Stock have been resold thereunder and such time as all such shares are freely tradable by non-Affiliates of the Company without registration. To the extent applicable, the
Company shall also use its reasonable best efforts to have such shares of Common Stock qualified or registered under applicable state securities laws, if required, and approved for listing on the NYSE (or if the Common Stock is not then listed on
the NYSE, on the principal other U.S. national or regional securities exchange on which the Common Stock is then listed). 

Section 5.10. Deferral of Contract Adjustment Payments.  

(a)    The Company has the right at any time, and from time to time, to defer payment of all or part of the Contract
Adjustment Payments in respect of each Purchase Contract by extending the period for payment of Contract Adjustment Payments to any subsequent Payment Date (an “Extension Period”), but not beyond the Purchase Contract Settlement
Date (or, with respect to Purchase Contracts for which (i) an effective Fundamental Change Early Settlement has occurred, the Fundamental Change Early Settlement Date or (ii) an effective Early Settlement has occurred, the quarterly
Payment Date immediately preceding the Early Settlement Date). Prior to the expiration of any Extension Period, the Company may further extend such Extension Period to any subsequent Payment Date, but not beyond the Purchase Contract Settlement Date
(or any applicable Fundamental Change Early Settlement Date or Payment Date immediately preceding the Early Settlement Date, as the case may be). 

If the Company so elects to defer Contract Adjustment Payments, the Company shall pay additional Contract Adjustment Payments on such deferred
installments of Contract Adjustment Payments at the annual rate then in effect for Contract Adjustment Payments, compounding on each succeeding Payment Date, until such deferred installments are paid in full (the accrued additional Contract

  
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Adjustment Payments thereon, being referred to herein as the “Compounded Contract Adjustment Payments”). The Company may pay any such Deferred Contract Adjustment Payments
(including Compounded Contract Adjustment Payments thereon) on any scheduled Payment Date. 
 At the end of each Extension Period, including
as the same may be extended as provided above, or, in the event of an effective Early Settlement or Fundamental Change Early Settlement, on the date shares of Common Stock are delivered in respect of such Early Settlement or the Fundamental Change
Early Settlement Date, as the case may be, the Company shall pay all deferred Contract Adjustment Payments (including Compounded Contract Adjustment Payments thereon) then due in the manner set forth in Section 5.09(a) (in the case of the end
of an Extension Period), in the manner set forth in Section 5.06(b) (in the case of an Early Settlement) or in the manner set forth in Section 5.04 (in the case of a Fundamental Change Early Settlement) to the extent such amounts are not
deducted from the amount otherwise payable by the Holder in the case of any Early Settlement or any Fundamental Change Early Settlement. In the event of an Early Settlement, the Company shall pay all deferred Contract Adjustment Payments (including
Compounded Contract Adjustment Payments thereon) then payable, if any, on the Purchase Contracts being settled early through the Payment Date immediately preceding the applicable Early Settlement Date. In the event of a Fundamental Change Early
Settlement, the Company shall pay all deferred Contract Adjustment Payments (including Compounded Contract Adjustment Payments thereon) due on the Purchase Contracts being settled on the Fundamental Change Early Settlement Date to but excluding such
Fundamental Change Early Settlement Date. 
 Upon termination of any Extension Period and the payment of all deferred Contract Adjustment
Payments (including Compounded Contract Adjustment Payments thereon) and all accrued and unpaid Contract Adjustment Payments then due, the Company may commence a new Extension Period; provided that such Extension Period, together with all
extensions thereof, may not extend beyond the Purchase Contract Settlement Date (or any applicable Early Settlement Date or Fundamental Change Early Settlement Date). Except in the case of an Early Settlement or Fundamental Change Early Settlement,
no Contract Adjustment Payments shall be due and payable during an Extension Period except at the end thereof. 

(b)    The Company shall give written notice to the Purchase Contract Agent (and the Purchase Contract Agent shall
promptly thereafter give notice thereof to Holders of Purchase Contracts) of its election to extend any period for the payment of Contract Adjustment Payments, the expected length of any such Extension Period and any extension of any Extension
Period, at least five Business Days before the earlier of (i) the Record Date for the Payment Date on which Contract Adjustment Payments would have been payable except for the election to begin or extend the Extension Period or (ii) the
date the Purchase Contract Agent is required to give notice to any securities exchange or to Holders of Purchase Contracts of such Record Date or such Payment Date. 

  
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 (c)    The Company shall give written notice to the Purchase Contract Agent
(and the Purchase Contract Agent shall promptly thereafter give notice thereof to Holders of Purchase Contracts) of the end of an Extension Period or its election to pay any portion of the deferred Contract Adjustment Payments (including Compounded
Contract Adjustment Payments thereon) on a Payment Date prior to the end of an Extension Period, at least five Business Days before the earlier of (i) the Record Date for the Payment Date on which such Extension Period shall end or such payment
of deferred Contract Adjustment Payments (including Compounded Contract Adjustment Payments thereon) shall be made or (ii) the date the Purchase Contract Agent is required to give notice to any securities exchange or to Holders of Purchase
Contracts of such Record Date or such Payment Date. 
 (d)    In the event the Company exercises its option to defer the
payment of Contract Adjustment Payments, then, until all deferred Contract Adjustment Payments (including Compounded Contract Adjustment Payments thereon) have been paid, the Company shall not declare or pay any dividends on, or make any
distributions on, or redeem, purchase or acquire, or make a liquidation payment with respect to, any shares of the Company’s capital stock (including the Convertible Preferred Stock); provided that the foregoing does not apply to: 

(i)    purchases, redemptions or other acquisitions of the Company’s capital stock in connection with
any employment contract, benefit plan or other similar arrangement with or for the benefit of employees, officers, directors, agents or consultants or a stock purchase or dividend reinvestment plan, or the satisfaction of the Company’s
obligations pursuant to any contract or security outstanding on the date that the Contract Adjustment Payment is deferred requiring the Company to purchase, redeem or acquire its capital stock; 

(ii)    any exchange, redemption or conversion of any class or series of the Company’s capital stock,
or the capital stock of one of the Company’s Subsidiaries, for any other class or series of the Company’s capital stock; 

(iii)    any purchase of, or payment of Cash in lieu of, fractional interests in shares of the
Company’s capital stock pursuant to the conversion or exchange provisions of such capital stock or the securities being converted or exchanged; 

(iv)    any dividend or distribution in the form of stock, warrants, options or other rights where the
dividend stock or stock issuable upon exercise of such warrants, options or other rights is the same stock as that on which the dividend is being paid or ranks equally with or junior to such stock; 

  
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 (v)    redemptions, exchanges or repurchases of, or with
respect to, any rights outstanding under a shareholder rights plan outstanding on the date that the Contract Adjustment Payment is deferred or the declaration or payment thereunder of a dividend or distribution of or with respect to rights in the
future; 
 (vi)    payments on any trust preferred securities, subordinated debentures, junior
subordinated debentures or junior subordinated notes, or any guarantees of any of the foregoing, in each case, that rank equal in right of payment with the Contract Adjustment Payments, so long as the amount of payments made on account of such
securities or guarantees and the Purchase Contracts is paid on all such securities and guarantees and the Purchase Contracts then outstanding on a pro rata basis in proportion to the full payment to which each series of such securities,
guarantees or Purchase Contracts is then entitled if paid in full; and 
 (vii)    any payment of
deferred interest or principal on, or repayment, redemption or repurchase of, parity or junior securities that, if not made, would cause the Company to breach the terms of the instrument governing such parity or junior securities. 

Section 5.11. Anti-dilution Adjustments. The Maximum Settlement Rate shall be subject to the following adjustments: 

(a)    If the Company issues Common Stock as a dividend or distribution on the Common Stock to all or substantially all
holders of the Common Stock, or the Company effects a share split or share combination, the Maximum Settlement Rate shall be adjusted based on the following formula: 

SR1 = SR0 x (OS1 / OS0) 
 where, 

SR0 = the Maximum Settlement Rate in effect immediately prior to the close of business
on the Record Date for such dividend or distribution or immediately prior to the open of business on the Effective Date for such share split or share combination, as the case may be; 

SR1 = the Maximum Settlement Rate in effect immediately after the close of business on such Record Date or such Effective Date, as the case may be; 

  
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 OS0 = the number of shares of Common
Stock outstanding immediately prior to the close of business on such Record Date or such Effective Date, as the case may be, in each case, prior to giving effect to such event; and 

OS1 = the number of shares of Common Stock that would be outstanding immediately after,
and solely as a result of, such event. 
 Any adjustment made pursuant to this clause (a) shall become effective as of the close of
business on (x) the Record Date for such dividend or other distribution or (y) the Effective Date for such share split or share combination becomes effective, as applicable. If any dividend or distribution in this clause (a) is
declared but not so paid or made, the new Maximum Settlement Rate shall be readjusted, on the date that the Board of Directors determines not to pay or make such dividend or distribution, to the Maximum Settlement Rate that would then be in effect
if such dividend or distribution had not been declared. 
 (b)    If the Company distributes to all holders of Common
Stock any rights, options or warrants entitling them for a period of not more than 45 calendar days after the date of distribution thereof to subscribe for or purchase Common Stock, in any case at an exercise price per share of Common Stock less
than the Closing Price of the Common Stock on the Business Day immediately preceding the date of the time of announcement of such issuance, the Maximum Settlement Rate shall be increased based on the following formula: 

SR1 = SR0 x (OS0 + X) / (OS0 + Y) 
 where, 

SR0 = the Maximum Settlement Rate in effect immediately prior to the close of business
on the Record Date for such distribution; 
 SR1 = the Maximum Settlement Rate in
effect immediately after the close of business on such Record Date; 
 OS0 = the
number of shares of Common Stock outstanding immediately prior to the close of business on the Record Date for such distribution; 
 X = the
total number of shares of Common Stock issuable pursuant to such rights, options or warrants; and 
 Y = the number of shares of Common Stock
equal to the quotient of (A) the aggregate price payable to exercise such rights, options or warrants divided by (B) the average of the Closing Prices of the Common Stock for the 10 consecutive Trading Days ending on, and including,
the Trading Day immediately preceding date of announcement for the issuance of such rights, options or warrants. 

  
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 If any right, option or warrant described in this clause (b) is not exercised or converted
prior to the expiration of the exercisability or convertibility thereof (and as a result no additional shares of Common Stock are delivered or issued pursuant to such rights, options or warrants), the new Maximum Settlement Rate shall be readjusted,
as of the date of such expiration, to the Maximum Settlement Rate that would then be in effect had the increase with respect to the issuance of such rights, options or warrants been made on the basis of delivery or issuance of only the number of
shares of Common Stock actually delivered. 
 For purposes of this clause (b), in determining whether any rights, options or warrants
entitle the holders thereof to subscribe for or purchase shares of the Common Stock at a price per share of Common Stock less than the Closing Price of the Common Stock on the Business Day immediately preceding the date of the time of announcement
of such issuance, and in determining the aggregate price payable to exercise such rights, options or warrants, there shall be taken into account any consideration the Company receives for such rights, options or warrants and any amount payable on
exercise or conversion thereof, with the value of such consideration, if other than cash, to be determined in good faith by the Board of Directors. 

Any increase to the Maximum Settlement Rate made under this clause (b) shall be made successively whenever any such rights, options or
warrants are issued and shall become effective immediately after the close of business on the Record Date for such distribution. 

(c)    (1) If the Company distributes shares of capital stock, evidences of indebtedness or other assets or property of
the Company to all holders of Common Stock (excluding (i) any dividend, distribution, rights, warrants or options as to which an adjustment was effected pursuant to clause (a) or (b) above, (ii) any dividend or distribution paid
exclusively in Cash, and (iii) any Spin-Off to which the provisions in clause (c)(2) below apply), the Maximum Settlement Rate shall be increased based on the following formula: 

SR1 = SR0 x SP0 / (SP0 – FMV) 
 where, 

SR0 = the Maximum Settlement Rate in effect immediately prior to the close of business
on the Record Date for such distribution; 
 SR1 = the Maximum Settlement Rate in
effect immediately after the close of business on such Record Date; 

  
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 SP0 = the Closing Price of the Common
Stock on the Trading Day immediately preceding the Ex-Dividend Date for such distribution; and 

FMV= the fair market value (as determined in good faith by the Board of Directors), on the Record Date for such dividend or distribution, of
the shares of capital stock, evidences of indebtedness, assets or property so distributed, expressed as an amount per share of Common Stock. 

Notwithstanding the foregoing, if “FMV” (as defined above) exceeds
“SP0” (as defined above), in lieu of the foregoing increase, each Holder of a purchase contract shall receive, for each purchase contract, at the same time and upon the same terms as
holders of shares of Common Stock, the amount of such distributed shares of capital stock, evidences of indebtedness or other assets or property that such Holder would have received if such Holder owned a number of shares of Common Stock equal to
the Maximum Settlement Rate on the Record Date for such dividend or distribution. 
 (2) However, if the Company distributes to all holders
of Common Stock, capital stock of any class or series, or similar equity interest, of or relating to a Subsidiary or other business unit (a “Spin-Off”), then the Maximum Settlement Rate shall
instead be increased based on the following formula: 
 SR1 = SR0 x (FMV0 + MP0) / MP0 
 where, 

SR0 = the Maximum Settlement Rate in effect immediately prior to the end of the
Valuation Period; 
 SR1 = the Maximum Settlement Rate in effect immediately after
the end of the Valuation Period; 
 FMV0 = the average of the closing price of the
capital stock or similar equity interests distributed to holders of Common Stock applicable to one share of Common Stock over each of the 10 consecutive Trading Days commencing on, and including, the third Trading Day immediately following the Ex-Dividend Date for such dividend or distribution with respect to the Common Stock on the NYSE or such other U.S. national or regional exchange or market that is at that time the principal exchange or market for
the Common Stock (the “Valuation Period”); and 
 MP0= the average
of the Closing Price of the Common Stock over the Valuation Period. 
 The adjustment to the Maximum Settlement Rate under this clause
(c)(2) shall occur on the last day of the Valuation Period; provided that if a Holder elects 

  
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to early settle the Purchase Contracts, or the Purchase Contract Settlement Date occurs, in either case, during the Valuation Period, references with respect to 10 Trading Days shall be deemed
replaced with such lesser number of Trading Days as have elapsed between the Ex-Dividend Date of such Spin-Off and the date on which such Holder elected its early
settlement right, or the Business Day immediately preceding the Purchase Contract Settlement Date, as the case may be, in determining the applicable Maximum Settlement Rate. 

If any dividend or distribution described in this clause (c) is declared but not so paid or made, the new Maximum Settlement Rate shall
be readjusted, as of the date the Board of Directors determines not to pay or make such dividend or distribution, to the Maximum Settlement Rate that would then be in effect if such dividend or distribution had not been declared. 

(d)    If any regular, quarterly Cash dividend or distribution is made to all or substantially all holders of Common Stock
during any quarterly fiscal period exceeds $0.58 per share (the “Reference Dividend”), the Maximum Settlement Rate shall be increased based on the following formula: 

SR1   =  
SR0 x [(SP0 –
T) / (SP0 – C)] 

where, 
 SR0   =   the Maximum Settlement Rate in effect immediately prior to the close of business on the Record Date for such distribution; 

SR1   =   the Maximum Settlement Rate in effect immediately after
the close of business on such Record Date; 
 SP0   =   the
Closing Price of the Common Stock on the Record Date for such distribution; 
 C   =   the amount in Cash per share the
Company distributes to holders of Common Stock; and 
 T   =   the Reference Dividend; provided that if the
dividend or distribution is not a regular quarterly Cash dividend, the Reference Dividend shall be deemed to be zero. 
 Notwithstanding the
foregoing, if “C” (as defined above) exceeds “SP0” (as defined above), in lieu of the foregoing increase, each Holder of a Purchase Contract shall receive, for each Purchase
Contract, at the same time and upon the same terms as holders of shares of Common Stock, the amount of distributed Cash that such Holder would have received if such Holder owned a number of shares of Common Stock equal to the Maximum Settlement Rate
on the Record Date for such cash dividend or distribution. 

  
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 The Reference Dividend shall be subject to an inversely proportional adjustment whenever the
Maximum Settlement Rate is adjusted, other than pursuant to this clause (d). For the avoidance of doubt, the Reference Dividend shall be zero in the case of a Cash dividend that is not a regular quarterly dividend. 

If any dividend or distribution described in this clause (d) is declared but not so paid or made, the new Maximum Settlement Rates shall
be readjusted, as of the date the Board of Directors determines not to pay or make such dividend or distribution, to the Maximum Settlement Rate that would then be in effect if such dividend or distribution had not been declared. 

(e)    If the Company or any of its Subsidiaries makes a payment in respect of a tender offer or exchange offer for the
Common Stock to the extent that the Cash and value of any other consideration included in the payment per share of Common Stock validly tendered or exchanged exceeds the Closing Price of the Common Stock on the Trading Day next succeeding the last
date on which tenders or exchanges may be made pursuant to such tender or exchange offer, the Maximum Settlement Rate shall be increased based on the following formula: 

SR1 = SR0 x [(FMV + (SP1 x
OS1)] /
(SP1 x OS0)

 where, 
 SR0   =   the Maximum Settlement Rate in effect immediately prior to the close of business on the Trading Day on which such tender or exchange offer expires; 

SR1   =   the Maximum Settlement Rate in effect immediately after
the close of business on the Trading Day immediately following the date such tender or exchange offer expires; 
 FMV
  =   the fair market value (as determined in good faith by the Board of Directors, whose good faith determination shall be conclusive), at the close of business on the Trading Day immediately following the date such tender or
exchange offer expires, of the aggregate value of all Cash and any other consideration paid or payable for shares validly tendered or exchanged and not withdrawn as of the expiration date; 

OS1   =   the number of shares of Common Stock outstanding
immediately prior to the last time tenders or exchanges may be made pursuant to such tender or exchange offer (prior to giving effect to the purchase or exchange of shares pursuant to such tender or exchange offer); 

OS0   =   the number of shares of Common Stock outstanding
immediately after the last time tenders or exchanges may be made pursuant to such tender or exchange offer (after giving effect to the purchase or exchange of shares pursuant to such tender or exchange offer); and 

  
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 SP1 = the Closing Price of the Common
Stock for the Trading Day next succeeding the date such tender or exchange offer expires. 
 The adjustment to the Maximum Settlement Rate
under this clause (e) shall occur at the close of business on the Trading Day on which such tender or exchange offer expires. 

(f)    To the extent that the Company has a shareholders rights plan involving the issuance of share purchase rights or
other similar rights to all or substantially all holders of the Common Stock in effect upon settlement of a Purchase Contract, the Holder thereof will receive, in addition to the Common Stock issuable upon settlement of such Purchase Contract, the
related rights for the Common Stock under the shareholders rights plan, unless, prior to any settlement of such Purchase Contract, the rights have separated from the Common Stock, in which case the Maximum Settlement Rate shall be adjusted at the
time of separation as if the Company made a distribution to all holders of Common Stock as described in clause (c) above, subject to readjustment in the event of the expiration, termination or redemption of the rights under the shareholder
rights plan. 
 (g)    The Company may increase the Maximum Settlement Rate if the Board of Directors deems it advisable
to avoid or diminish any income tax to holders of the Common Stock resulting from any dividend or distribution of shares (or rights to acquire shares) or from any event treated as a dividend or distribution for income tax purposes or for any other
reasons. 
 (h)    Adjustments to the Maximum Settlement Rate shall be calculated to the nearest ten thousandth of a
share. No adjustment to the Maximum Settlement Rate shall be required unless the adjustment would require an increase or decrease of at least one percent in the Maximum Settlement Rate. If any adjustment is not required to be made because it would
not change the Maximum Settlement Rate by at least one percent, then the adjustment shall be carried forward and taken into account in any subsequent adjustment. All adjustments shall be made not later than the Purchase Contract Settlement Date, any
Early Settlement Date, any Fundamental Change Early Settlement Date and the time at which the Company is required to determine the relevant Settlement Rate or amount of Make-Whole Shares (if applicable) in connection with any settlement with respect
to the Purchase Contracts. 
 (i)    No adjustment to the Maximum Settlement Rate shall be made if Holders participate,
as a result of holding the Units and without having to settle the Purchase Contracts that form part of the Units, in the transaction that would otherwise give rise to an adjustment as if they held a number of shares of Common Stock equal to the
Maximum Settlement Rate, at the same time and upon the same terms as the holders of Common Stock participate in the transaction. 

  
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 (j)     Except as described in Section 5.11(a), (b), (c), (d) and
(e) above, the Maximum Settlement Rate shall not be adjusted: 
 (i)    upon the issuance of any
shares of Common Stock pursuant to any present or future plan providing for the reinvestment of dividends or interest payable on the Company’s securities and the investment of additional optional amounts in shares of Common Stock under any
plan; 
 (ii)    upon the issuance of options, restricted stock or other awards in connection with any
employment contract, executive compensation plan, benefit plan or other similar arrangement with or for the benefit of any one or more employees, officers, directors, consultants or independent contractors or the exercise of such options or other
awards; 
 (iii)    upon the issuance of any shares of Common Stock pursuant to any option, warrant,
right or exercisable, exchangeable or convertible security outstanding as of the date the Units were first issued; 

(iv)    for a change in the par value or no par value of the Common Stock; or 

(v)    for accumulated and unpaid Contract Adjustment Payments. 

(k)    If an adjustment is made to the Maximum Settlement Rate, an adjustment also shall be made to the Reference Price on
an inversely proportional basis solely to determine which of the clauses of the definition of Settlement Rate shall be applicable to determine the Settlement Rate with respect to the Purchase Contract Settlement Date, any Early Settlement Date or
any Fundamental Change Early Settlement Date. 
 (l)    If any adjustment to the Maximum Settlement Rate becomes
effective, or any effective date, expiration time, ex-date or record date for any stock split or reverse stock split, tender or exchange offer, issuance, dividend or distribution (relating to a required
Maximum Settlement Rate adjustment) occurs, during the period beginning on, and including, (i) the open of business on a first Trading Day of the Market Value Averaging Period or (ii) in the case of an Early Settlement or Fundamental
Change Early Settlement, the relevant Early Settlement Date or the Fundamental Change Early Settlement Date and, in each case, ending on, and including, the date on which the Company delivers shares of Common Stock under the related Purchase
Contract, the Company shall make appropriate adjustments to the Maximum Settlement Rate and/or the number of shares of Common Stock deliverable upon settlement with respect to the Purchase Contract, in each case, consistent with the methodology used
to determine the anti-dilution adjustments set forth in this Section 5.11. If any adjustment to the 

  
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Maximum Settlement Rate becomes effective, or any effective date, expiration time, ex-date or record date for any stock split or reverse stock split,
tender or exchange offer, issuance, dividend or distribution (relating to a required Maximum Settlement Rate adjustment) occurs, during the period used to determine the Stock Price, the Five-Day Average Price
or any other averaging period hereunder, the Company shall make appropriate adjustments to the applicable prices, consistent with the methodology used to determine the anti-dilution adjustments set forth in this Section 5.11. 

(m)    (i) Whenever the Maximum Settlement Rate is adjusted as herein provided, the Company shall, as promptly as
practicable following the occurrence of an event that requires an adjustment pursuant to this Section 5.11 (or if the Company is not aware of such occurrence, as soon as practicable after becoming so aware): 

(A)    compute the adjusted Maximum Settlement Rate in accordance with this Section 5.11 and prepare
and transmit to the Purchase Contract Agent an Officer’s Certificate setting forth the adjusted Maximum Settlement Rate, the method of calculation thereof in reasonable detail, and the facts requiring such adjustment and upon which such
adjustment is based; and 
 (B)    provide a written notice to the Holders of the Units and the Purchase
Contract Agent of the occurrence of such event and a statement in reasonable detail setting forth the method by which the adjustment to the Maximum Settlement Rate was determined and setting forth the adjusted Maximum Settlement Rate. 

(ii)    The Purchase Contract Agent shall not at any time be under any duty or responsibility to any Holder
to determine whether any facts exist which may require any adjustment of the Maximum Settlement Rate, or with respect to the nature or extent or calculation of any such adjustment when made, or with respect to the method employed in making the same.
The Purchase Contract Agent shall be fully authorized and protected in relying on any Officer’s Certificate delivered pursuant to this Section 5.11(m) and any adjustment contained therein and the Purchase Contract Agent shall not be deemed to
have knowledge of any adjustment unless and until it has received such Officer’s Certificate. The Purchase Contract Agent shall not be accountable with respect to the validity or value (or the kind or amount) of any shares of Common Stock, or
of any securities or property, which may at the time be issued or delivered with respect to any Purchase Contract; and the Purchase Contract Agent makes no representation with respect thereto. The Purchase Contract Agent shall not be responsible for
any failure of the Company to issue, transfer or deliver any shares of Common Stock pursuant to a Purchase Contract or to comply with any of the duties, responsibilities or covenants of the Company contained in this Article 5. 

  
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 Section 5.12. Reorganization Events. The following events are defined as
“Reorganization Events”: 
 (i)    any recapitalization, reclassification or change of
the Common Stock (other than changes resulting from a subdivision or combination); 
 (ii)    any
consolidation, merger or combination involving the Company; 
 (iii)    any sale, lease or other transfer
to another Person of the consolidated assets of the Company and its Subsidiaries substantially as an entirety; or 

(iv)    any statutory exchange of the Common Stock; 

in each case as a result of which the Common Stock would be converted into, or exchanged for, stock, other securities, other property or assets (including
Cash or any combination thereof) (“Exchange Property”). 
 Following the effective date of a Reorganization Event, the
Settlement Rate shall be determined by reference to the value of an Exchange Property Unit, and the Company shall deliver, upon settlement of any Purchase Contract, a number of Exchange Property Units equal to the number of shares of Common Stock
that it would otherwise be required to deliver. In the event holders of Common Stock (other than any Constituent Person or Affiliate thereof) have the opportunity to elect the form of consideration to be received in such transaction, the Exchange
Property Unit that Holders of the Corporate Units or Treasury Units are entitled to receive will be deemed to be (x) the weighted average of the types and amounts of consideration received by the holders of Common Stock that affirmatively make
an election or (y) if no holders of Common Stock affirmatively make such an election, the types and amounts of consideration actually received by the holders of Common Stock. 

In the event of such a Reorganization Event, the Person formed by such consolidation or surviving such merger or, if other than the Company,
the Person which acquires the Company’s assets and those of the Company’s Subsidiaries substantially as an entirety, shall execute and deliver to the Purchase Contract Agent an agreement providing that the holder of each Unit that remains
outstanding after the Reorganization Event (if any) will have the rights described in the preceding paragraph and expressly assuming all of the Company’s obligations under the Purchase Contracts, this Agreement, the Convertible Preferred Stock
and the Remarketing Agreement. Such supplemental agreement shall provide for adjustments to the amount of any securities constituting all or a 

  
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portion of an Exchange Property Unit and/or adjustments to the Maximum Settlement Rate, which, for events subsequent to the effective date of such Reorganization Event, will be as nearly
equivalent as may be practicable, as determined by the Company in its sole commercially reasonable discretion, to the adjustments provided for under Section 5.11 (it being understood that any such adjustment may be zero and that no such
adjustments shall be required with respect to any portion of the Exchange Property that consists of cash). The provisions described in the preceding two paragraphs shall similarly apply to successive Reorganization Events. In connection with any
Reorganization Event, the Company shall also adjust the Reference Dividend based on the number of shares of common stock comprising an Exchange Property Unit and (if applicable) the value of any non-stock
consideration comprising an Exchange Property Unit. If an Exchange Property Unit is composed solely of non-stock consideration, the Reference Dividend shall be zero. 

ARTICLE 6 

RIGHTS AND REMEDIES OF HOLDERS 

Section 6.01. Unconditional Right of Holders to Receive Contract Adjustment Payments and to Purchase Shares of Common Stock. Each
Holder of a Unit shall have the right, which is absolute and unconditional, (a) subject to Article 5, to receive each Contract Adjustment Payment and deferred Contract Adjustment Payment with respect to the Purchase Contract comprising
part of such Unit on the respective Payment Date for such Unit pursuant to the terms hereof and (b) except upon and following a Termination Event, to purchase shares of Common Stock pursuant to such Purchase Contract and, in each such case, to
institute suit for the enforcement of any such right to receive Contract Adjustment Payments and the right to purchase shares of Common Stock, and such rights shall not be impaired without the consent of such Holder. 

Section 6.02. Restoration of Rights and Remedies. If any Holder has instituted any proceeding to enforce any right or remedy under
this Agreement and such proceeding has been discontinued or abandoned for any reason, or has been determined adversely to such Holder, then and in every such case, subject to any determination in such proceeding, the Company and such Holder shall be
restored severally and respectively to their former positions hereunder, and thereafter all rights and remedies of such Holder shall continue as though no such proceeding had been instituted. 

Section 6.03. Rights and Remedies Cumulative. Except as otherwise provided with respect to the replacement or payment of
mutilated, destroyed, lost or stolen Certificates in the last paragraph of Section 3.10, no right or remedy herein conferred upon or reserved to the Holders is intended to be exclusive of any other right or remedy, and every right and remedy
shall, to the extent permitted by law, be cumulative and in addition to every other right and remedy 

  
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given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent
assertion or employment of any other appropriate right or remedy. 
 Section 6.04. Delay or Omission Not Waiver. No delay or
omission of any Holder to exercise any right upon a default or remedy upon a default shall impair any such right or remedy or constitute a waiver of any such right. Every right and remedy given by this Article 6 or by law to the Holders may be
exercised from time to time, and as often as may be deemed expedient, by such Holders. 
 Section 6.05. Undertaking for Costs.
All parties to this Agreement agree, and each Holder of a Unit, by its acceptance of such Unit shall be deemed to have agreed, that any court of competent jurisdiction may in its discretion require, in any suit for the enforcement of any right
or remedy under this Agreement, or in any suit against the Purchase Contract Agent for any action taken, suffered or omitted by it as Purchase Contract Agent, the filing by any party litigant in such suit of an undertaking to pay the costs of such
suit, and that such court may in its discretion assess reasonable costs, including reasonable attorneys’ fees and costs against any party litigant in such suit, having due regard to the merits and good faith of the claims or defenses made by
such party litigant; provided that the provisions of this Section 6.05 shall not apply to any suit instituted by the Purchase Contract Agent, to any suit instituted by any Holder, or group of Holders, holding in the aggregate more than
10% of the Outstanding Units, or to any suit instituted by any Holder for the enforcement of the obligation to pay Contract Adjustment Payments on or after the respective Payment Date therefor in respect of any Unit held by such Holder, or for
enforcement of the right to purchase shares of Common Stock under the Purchase Contracts constituting part of any Unit held by such Holder. 

Section 6.06. Waiver of Stay or Extension Laws. The Company covenants (to the extent that it may lawfully do so) that it will not
at any time insist upon, or plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay or extension law wherever enacted, now or at any time hereafter in force, that may affect the covenants or the performance of this
Agreement; and the Company (to the extent that it may lawfully do so) hereby expressly waives all benefit or advantage of any such law and covenants that it will not hinder, delay or impede the execution of any power herein granted to the Purchase
Contract Agent or the Holders, but will suffer and permit the execution of every such power as though no such law had been enacted. 

  
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 ARTICLE 7 

THE PURCHASE CONTRACT AGENT 

Section 7.01. Certain Duties and Responsibilities.  

(a)    The Purchase Contract Agent: 

(i)    undertakes to perform, with respect to the Units, such duties and only such duties as are
specifically set forth in this Agreement and the Remarketing Agreement to be performed by the Purchase Contract Agent and no implied covenants or obligations shall be read into this Agreement or the Remarketing Agreement against the Purchase
Contract Agent; and 
 (ii)    in the absence of bad faith on its part, may conclusively rely, as to the
truth of the statements and the correctness of the opinions expressed therein, upon certificates or opinions furnished to the Purchase Contract Agent and conforming to the requirements of this Agreement or the Remarketing Agreement, as applicable,
but in the case of any certificates or opinions which by any provision hereof are specifically required to be furnished to the Purchase Contract Agent, the Purchase Contract Agent shall be under a duty to examine the same to determine whether or not
they conform to the requirements of this Agreement or the Remarketing Agreement, as applicable (but need not confirm or investigate the accuracy of the mathematical calculations or other facts or matters stated therein). 

(b)    No provision of this Agreement or the Remarketing Agreement shall be construed to relieve the Purchase Contract
Agent from liability for its own grossly negligent action, its own grossly negligent failure to act, or its own willful misconduct, except that: 

(i)    this Section 7.01(b) shall not be construed to limit the effect of Section 7.01(a) or Section
7.01(c); 
 (ii)    the Purchase Contract Agent shall not be liable for any error of judgment made in
good faith by a Responsible Officer, unless it shall be conclusively determined by a court of competent jurisdiction that the Purchase Contract Agent was grossly negligent in ascertaining the pertinent facts; and 

(iii)    the Purchase Contract Agent shall not be liable with respect to any action taken or omitted to be
taken by it in good faith in accordance with the direction of the Holders of a majority in stated amount of the Outstanding Certificates, relating to the time, method and place of conducting any proceeding for any right or remedy available to the
Purchase Contract Agent, or exercising any power conferred upon the Purchase Contract Agent, under this Agreement with respect to the Units. 

  
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 (c)    No provision of this Agreement or the Remarketing Agreement shall
require the Purchase Contract Agent to expend or risk its own funds or otherwise incur any financial liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if it shall have reasonable grounds
for believing that repayment of such funds or adequate indemnity against such risk or liability is not reasonably assured to it. 

(d)    Whether or not therein expressly so provided, every provision of this Agreement and the Remarketing Agreement
relating to the conduct or affecting the liability of or affording protection to the Purchase Contract Agent shall be subject to the provisions of this Section 7.01. 

(e)    The Purchase Contract Agent is authorized to execute and deliver the Remarketing Agreement in its capacity as
Purchase Contract Agent. 
 (f)    In case a default by the Company under this Agreement has occurred (that has not been
cured or waived), and a Responsible Officer of the Purchase Contract Agent have received written notice thereof, the Purchase Contract Agent shall exercise such of the rights and powers, if any, with respect to such default, vested in it by this
Agreement, and use the same degree of care and skill in the exercise thereof, as a prudent person would exercise or use under the circumstances in the conduct of his or her own affairs. 

Section 7.02. Notice of Default. Within 90 calendar days after the occurrence of any default by the Company hereunder of which a
Responsible Officer of the Purchase Contract Agent has received written notice thereof, the Purchase Contract Agent shall transmit by mail to the Holders, as their names and addresses appear in the Security Register, notice of such default
hereunder, unless such default shall have been cured or waived; provided that, except for a default in any payment obligation hereunder, the Purchase Contract Agent shall be protected in withholding such notice if and for so long as a
Responsible Officer of the Purchase Contract Agent in good faith determines that the withholding of such notice is in the interests of Holders of the Units. 

Section 7.03. Certain Rights of Purchase Contract Agent.  

Subject to the provisions of Section 7.01: 

(a)    the Purchase Contract Agent may conclusively rely and shall be fully protected in acting or refraining from acting
upon any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document believed by it to be genuine and to have been
signed or presented by the proper party or parties; 

  
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 (b)    any request or direction of the Company mentioned herein shall be
sufficiently evidenced by an Officer’s Certificate, Issuer Order or Issuer Request, and any resolution of the Board of Directors of the Company may be sufficiently evidenced by a Board Resolution; 

(c)    whenever in the administration of this Agreement or the Remarketing Agreement the Purchase Contract Agent shall
deem it desirable that a matter be proved or established prior to taking, suffering or omitting to take any action hereunder or thereunder, the Purchase Contract Agent (unless other evidence be herein specifically prescribed in this Agreement) may,
in the absence of bad faith on its part, conclusively rely upon an Officer’s Certificate of the Company; 

(d)    the Purchase Contract Agent may consult with counsel of its selection and the advice of such counsel or any Opinion
of Counsel shall be full and complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon; 

(e)    the Purchase Contract Agent shall not be bound to make any investigation into the facts or matters stated in any
resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document, but the Purchase Contract Agent, in its discretion, may
make reasonable further inquiry or investigation into such facts or matters related to the execution, delivery and performance of the Purchase Contracts as it may see fit, and, if the Purchase Contract Agent shall determine to make such further
inquiry or investigation, it shall be given a reasonable opportunity to examine the relevant books, records and premises of the Company, personally or by agent or attorney at the sole cost of the Company and shall incur no liability or additional
liability of any kind by reason of such inquiry or investigation; 
 (f)    the Purchase Contract Agent may execute any
of the powers hereunder or perform any duties hereunder either directly or by or through agents, attorneys, custodians or nominees or an Affiliate of the Purchase Contract Agent and the Purchase Contract Agent shall not be responsible for any
misconduct or negligence on the part of any agent, attorney, custodian or nominee or an Affiliate appointed with due care by it hereunder; 

(g)    the Purchase Contract Agent shall be under no obligation to exercise any of the rights or powers vested in it by
this Agreement at the request or direction of any of the Holders pursuant to this Agreement, unless such Holders shall have offered to the Purchase Contract Agent security or indemnity satisfactory to the Purchase Contract Agent against the costs,
expenses and liabilities which might be incurred by it in compliance with such request or direction; 

  
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 (h)    the Purchase Contract Agent shall not be liable for any action taken,
suffered, or omitted to be taken by it in good faith and believed by it to be authorized or within the discretion or rights or powers conferred upon it by this Agreement; 

(i)    the rights, privileges, protections, immunities and benefits given to the Purchase Contract Agent, including,
without limitation, its right to be indemnified, are extended to, and shall be enforceable by, the Purchase Contract Agent in each of its capacities hereunder, and to each officer, director, employee of the Purchase Contract Agent and each agent,
custodian and other Person employed, in any capacity whatsoever, by the Purchase Contract Agent to act hereunder and shall survive the resignation or removal of the Purchase Contract Agent and the termination for any reason of this Agreement and the
termination, satisfaction and discharge of the Units and the Purchase Contracts; 
 (j)    the Purchase Contract Agent
shall not be deemed to have notice or be charged with knowledge of any Fundamental Change, Termination Event or any default hereunder unless a Responsible Officer of the Purchase Contract Agent has received written notice from the Company or any
Holder of such Fundamental Change, Termination Event or default at the Corporate Trust Office of the Purchase Contract Agent, and such notice references the Units and this Agreement and identifies such default; 

(k)    the Purchase Contract Agent may request that the Company deliver a certificate setting forth the names of
individuals and/or titles of officers authorized at such time to take specified actions pursuant to this Agreement; 

(l)    anything in this Agreement notwithstanding, in no event shall the Purchase Contract Agent be liable for special,
indirect, punitive or consequential loss or damage of any kind whatsoever (including but not limited to loss of profit), even if the Purchase Contract Agent has been advised as to the likelihood of such loss or damage and regardless of the form of
action; 
 (m)    the Purchase Contract Agent shall not be responsible or liable for any failure or delay in the
performance of its obligations under this Agreement arising out of or caused, directly or indirectly, by circumstances beyond its reasonable control, including, without limitation, acts of God; earthquakes; fire; flood; terrorism; wars and other
military disturbances; sabotage; epidemics; riots; interruptions; loss or malfunctions of utilities, computer (hardware or software) or communication services; accidents; labor disputes; acts of civil or military authority and governmental action;
and 
 (n)    the permissive right of the Purchase Contract Agent to take or refrain from taking action hereunder shall
not be construed as a duty. 
 Section 7.04. Not Responsible for Recitals or Issuance of Units. The recitals contained herein,
in the Remarketing Agreement and in the Certificates 

  
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shall be taken as the statements of the Company, and the Purchase Contract Agent assumes no responsibility for their accuracy or validity. The Purchase Contract Agent makes no representations as
to the validity or sufficiency of either this Agreement or of the Units or the Pledge or the Collateral or the Remarketing Agreement. The Purchase Contract Agent shall not be accountable for the use or application by the Company of the proceeds in
respect of the Purchase Contracts. 
 Section 7.05. May Hold Units. Any Security Registrar or any other agent of the Company, or
the Purchase Contract Agent and its Affiliates, in their individual or any other capacity, may become the owner or pledgee of Units and may otherwise deal with the Company, the Collateral Agent or any other Person with the same rights it would have
if it were not Security Registrar or such other agent, or the Purchase Contract Agent. The Company may become the owner or pledgee of Units. 

Section 7.06. Money Held in Custody. Money held by the Purchase Contract Agent in custody hereunder need not be segregated from
the Purchase Contract Agent’s other funds except to the extent required by law or provided herein; provided, however, that when the Purchase Contract Agent holds Cash as a component of the Treasury Portfolio, a Treasury Unit or a Cash
Settled Unit, such Cash shall be held in a separate account hereunder. The Purchase Contract Agent shall be under no obligation to invest or pay interest on any money received by it hereunder except as otherwise expressly provided hereunder or
agreed in writing with the Company. 
 Section 7.07. Compensation and Reimbursement.  

The Company agrees: 

(a)    to pay to the Purchase Contract Agent compensation for all services rendered by it hereunder and under the
Remarketing Agreement as the Company and the Purchase Contract Agent shall from time to time agree in writing; 

(b)    except as otherwise expressly provided for herein, to reimburse the Purchase Contract Agent upon its request for
all reasonable expenses, disbursements and advances incurred or made by the Purchase Contract Agent in accordance with any provision of this Agreement and the Remarketing Agreement (including the reasonable compensation and the expenses and
disbursements of its agents and counsel), except any such expense, disbursement or advance as may be attributable to its gross negligence, bad faith or willful misconduct; 

(c)    to indemnify the Purchase Contract Agent and any predecessor Purchase Contract Agent (collectively, with the
Purchase Contract Agent, the “Indemnitees”) for, and to hold each Indemnitee harmless against, any loss, liability or expense (including reasonable fees and expenses of counsel) including taxes (other than taxes based upon, measured
by or determined by the income of the Purchase Contract Agent) incurred without gross negligence, bad faith or 

  
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willful misconduct on its part, arising out of or in connection with this Agreement, including the acceptance or administration of its duties hereunder and the Indemnitees’ reasonable costs
and expenses (including reasonable fees and expenses of counsel) of defending themselves against any claim (whether asserted by the Company, a Holder or any other Person) or liability in connection with the exercise or performance of any of the
Purchase Contract Agent’s powers or duties hereunder; and 
 (d)    to pay or reimburse the Purchase Contract Agent
for transfer, stamp, documentary or other similar taxes, assessments or charges levied by any governmental or revenue authority in respect of this Agreement or any other document referred to herein. 

Purchase Contract Agent for purposes of this Section shall include any predecessor Purchase Contract Agent; provided, however, that the
negligence, willful misconduct or bad faith of any Purchase Contract Agent hereunder shall not affect the rights of any other Purchase Contract Agent hereunder. 

The provisions of this Section 7.07 shall survive the resignation or removal of the Purchase Contract Agent and the termination for any
reason of this Agreement, and the termination, satisfaction and discharge of the Units and the Purchase Contracts. 
 Section 7.08.
Corporate Purchase Contract Agent Required; Eligibility. There shall at all times be a Purchase Contract Agent hereunder which shall be a Person organized and doing business under the laws of the United States of America, any State thereof or
the District of Columbia, authorized under such laws to exercise corporate trust powers, having (or being a member of a bank holding company having) a combined capital and surplus of at least $50,000,000, subject to supervision or examination by
Federal or State authority and having a corporate trust office in the Borough of Manhattan, New York City, if there be such a Person in the Borough of Manhattan, New York City, qualified and eligible under this Article 7 and willing to act on
reasonable terms. If such Person publishes or files reports of condition at least annually, pursuant to law or to the requirements of said supervising or examining authority, then for the purposes of this Section 7.08, the combined capital and
surplus of such Person shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published or filed. If at any time the Purchase Contract Agent shall cease to be eligible in accordance with the
provisions of this Section 7.08, it shall resign immediately in the manner and with the effect hereinafter specified in this Article 7. 

Section 7.09. Resignation and Removal; Appointment of Successor. (a) No resignation or removal of the Purchase Contract Agent
and no appointment of a successor Purchase Contract Agent pursuant to this Article shall become effective until the acceptance of appointment by the successor Purchase Contract Agent in accordance with the applicable requirements of
Section 7.10. 

  
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 (b)    The Purchase Contract Agent may resign at any time by giving written
notice thereof to the Company 60 calendar days prior to the effective date of such resignation. If the instrument of acceptance by a successor Purchase Contract Agent required by Section 7.10 shall not have been delivered to the Purchase
Contract Agent within 30 calendar days after the giving of such notice of resignation, the resigning Purchase Contract Agent may petition, at the expense of the Company, any court of competent jurisdiction for the appointment of a successor Purchase
Contract Agent. 
 (c)    The Purchase Contract Agent may be removed at any time by Act of the Holders of a majority in
number of the Outstanding Units delivered to the Purchase Contract Agent and the Company. If the instrument of acceptance by a successor Purchase Contract Agent required by Section 7.10 shall not have been delivered to the Purchase Contract
Agent within 30 calendar days after such Act, the Purchase Contract Agent being removed may petition any court of competent jurisdiction for the appointment of a successor Purchase Contract Agent. 

(d)    If at any time: 

(i)    the Purchase Contract Agent shall cease to be eligible under Section 7.08 and shall fail to
resign after written request therefor by the Company or by any such Holder; or 
 (ii)    the Purchase
Contract Agent shall become incapable of acting or shall be adjudged a bankrupt or insolvent or a receiver of the Purchase Contract Agent or of its property shall be appointed or any public officer shall take charge or control of the Purchase
Contract Agent or of its property or affairs for the purpose of rehabilitation, conservation or liquidation, 
 then, in any such case, (i) the Company
by a Board Resolution may remove the Purchase Contract Agent, or (ii) any Holder who has been a bona fide Holder of a Unit for at least six months may, on behalf of himself and all others similarly situated, petition any court of competent
jurisdiction for the removal of the Purchase Contract Agent and the appointment of a successor Purchase Contract Agent. 

(e)    If the Purchase Contract Agent shall resign, be removed or become incapable of acting, or if a vacancy shall occur
in the office of the Purchase Contract Agent for any cause, the Company, by a Board Resolution, shall promptly appoint a successor Purchase Contract Agent and shall comply with the applicable requirements of Section 7.10. If no successor
Purchase Contract Agent shall have been so appointed by the Company and accepted appointment in the manner required by Section 7.10, any Holder who has been a bona fide Holder of a Unit for at least six months, on behalf of itself and all
others similarly situated, or the Purchase Contract Agent may petition, at the expense of the Company, any court of competent jurisdiction for the appointment of a successor Purchase Contract Agent. 

  
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 (f)    The Company shall give, or shall cause such successor Purchase
Contract Agent to give, notice of each resignation and each removal of the Purchase Contract Agent and each appointment of a successor Purchase Contract Agent by mailing written notice of such event by first-class mail, postage prepaid, to all
Holders as their names and addresses appear in the applicable Security Register. Each notice shall include the name of the successor Purchase Contract Agent and the address of its Corporate Trust Office. 

Section 7.10. Acceptance of Appointment by Successor. (a) In case of the appointment hereunder of a successor Purchase
Contract Agent, every such successor Purchase Contract Agent so appointed shall execute, acknowledge and deliver to the Company and to the retiring Purchase Contract Agent an instrument accepting such appointment, and thereupon the resignation or
removal of the retiring Purchase Contract Agent shall become effective and such successor Purchase Contract Agent, without any further act, deed or conveyance, shall become vested with all the rights, powers, agencies and duties of the retiring
Purchase Contract Agent; but, on the request of the Company or the successor Purchase Contract Agent, such retiring Purchase Contract Agent shall, upon payment of its charges, execute and deliver an instrument transferring to such successor Purchase
Contract Agent all the rights, powers and trusts of the retiring Purchase Contract Agent and duly assign, transfer and deliver to such successor Purchase Contract Agent all property and money held by such retiring Purchase Contract Agent hereunder.

 (b)    Upon request of any such successor Purchase Contract Agent, the Company shall execute any and all instruments
for more fully and certainly vesting in and confirming to such successor Purchase Contract Agent all such rights, powers and agencies referred to in clause (a) of this Section 7.10. 

(c)    No successor Purchase Contract Agent shall accept its appointment unless at the time of such acceptance such
successor Purchase Contract Agent shall be qualified and eligible under this Article 7. 
 Section 7.11. Merger, Conversion,
Consolidation or Succession to Business. Any Person into which the Purchase Contract Agent may be merged or converted or with which it may be consolidated, or any Person resulting from any merger, conversion or consolidation to which the
Purchase Contract Agent shall be a party, or any Person succeeding to all or substantially all the corporate trust business of the Purchase Contract Agent, shall be the successor of the Purchase Contract Agent hereunder, provided that such
Person shall be otherwise qualified and eligible under this Article 7, without the execution or filing of any paper or any further act on the part of any of the parties hereto. In case any Certificates shall have been authenticated and executed on
behalf of the Holders, but not delivered, by the Purchase Contract Agent then in office, any successor by merger, 

  
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conversion or consolidation to such Purchase Contract Agent may adopt such authentication and execution and deliver the Certificates so authenticated and executed with the same effect as if such
successor Purchase Contract Agent had itself authenticated and executed such Units. 
 Section 7.12. Preservation of Information;
Communications to Holders. (a) The Purchase Contract Agent shall preserve, in as current a form as is reasonably practicable, the names and addresses of Holders received by the Purchase Contract Agent in its capacity as Security Registrar.

 (b)    If three or more Holders (herein referred to as “Applicants”) apply in writing to the
Purchase Contract Agent, and furnish to the Purchase Contract Agent reasonable proof that each such Applicant has owned a Unit for a period of at least six months preceding the date of such application, and such application states that the
Applicants desire to communicate with other Holders with respect to their rights under this Agreement or under the Units and is accompanied by a copy of the form of proxy or other communication which such Applicants propose to transmit, then the
Purchase Contract Agent shall mail to all the Holders copies of the form of proxy or other communication which is specified in such request, with reasonable promptness after a tender to the Purchase Contract Agent of the materials to be mailed and
of payment, or provision for the payment, of the reasonable expenses of such mailing. 
 Section 7.13. No Obligations of Purchase
Contract Agent. Except to the extent otherwise expressly provided in this Agreement, the Purchase Contract Agent assumes no obligations and shall not be subject to any liability under this Agreement, the Remarketing Agreement or any Purchase
Contract in respect of the obligations of the Holder of any Unit thereunder. The Company agrees, and each Holder of a Certificate, by its acceptance thereof, shall be deemed to have agreed, that the Purchase Contract Agent’s execution of the
Certificates on behalf of the Holders shall be solely as agent and attorney-in-fact for the Holders, and that the Purchase Contract Agent shall have no obligation to
perform such Purchase Contracts on behalf of the Holders, except to the extent expressly provided in Article 5 hereof. 

Section 7.14. Tax Compliance. (a) The Company, will comply with all applicable certification, information reporting and
withholding (including “backup” withholding) requirements imposed by applicable tax laws, regulations or administrative practice with respect to (i) any payments made with respect to the Units or (ii) the issuance,
delivery, holding, transfer, redemption or exercise of rights under the Units. Such compliance shall include, without limitation, the preparation and timely filing of required returns and the timely payment of all amounts required to be withheld to
the appropriate taxing authority or its designated agent. 
 (b)    The Purchase Contract Agent shall comply in
accordance with the terms hereof with any reasonable written direction received from the Company 

  
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with respect to the execution or certification of any required documentation and the application of such requirements to particular payments or Holders or in other particular circumstances, and
may for purposes of this Agreement conclusively rely on any such direction in accordance with the provisions of Section 7.01(a) hereof. 

(c)    The Purchase Contract Agent shall maintain all appropriate records documenting compliance with such requirements,
and shall make such records available, on written request, to the Company or its authorized representative within a reasonable period of time after receipt of such request. 

(d)    Notwithstanding anything contained herein to the contrary, in order to comply with applicable tax laws (inclusive
of rules, regulations and interpretations promulgated by competent authorities) related to this Agreement, Units or the Purchase Contracts in effect from time to time (“Applicable Law”) that a foreign financial institution, the
issuer, trustee, paying agent or other party is or has agreed to be subject to, the Company agrees (i) to provide to The Bank of New York Mellon Trust Company, N.A. sufficient information about the parties and/or transactions (including any
modification to the terms of such transactions) so that The Bank of New York Mellon Trust Company, N.A. can determine whether it has tax related obligations under Applicable Law and (ii) to hold harmless The Bank of New York Mellon Trust
Company, N.A. for any losses it may suffer due to the actions it takes to comply with Applicable Law. The terms of this section shall survive the termination for any reason of this Agreement, the termination, satisfaction and discharge of the Units
and the Purchase Contracts and the resignation or removal of the Purchase Contract Agent. 
 ARTICLE 8 

SUPPLEMENTAL AGREEMENTS 

Section 8.01. Supplemental Agreements Without Consent of Holders. Without the consent of any Holders, the Company, when authorized
by a Board Resolution, the Purchase Contract Agent, the Collateral Agent, the Custodial Agent and the Securities Intermediary at any time and from time to time, may enter into one or more agreements supplemental hereto, in form satisfactory to the
Company and the Purchase Contract Agent, the Collateral Agent, the Custodial Agent and the Securities Intermediary to: 

(a)    evidence the succession of another Person to the Company, and the assumption by any such successor of the covenants
of the Company herein and in the Certificates; 
 (b)    evidence and provide for the acceptance of appointment
hereunder by a successor Purchase Contract Agent, Collateral Agent, Securities Intermediary or Custodial Agent; 

  
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 (c)    add to the covenants of the Company for the benefit of the Holders, or
surrender any right or power herein conferred upon the Company; 
 (d)    conform the provisions of this Agreement to
the description of the Units and the Purchase Contracts contained in the Units Prospectus as evidenced by an Officer’s Certificate; 

(e)    except as provided for in Section 5.04, cure any ambiguity, defect or inconsistency, to correct or supplement
any provisions herein that may be inconsistent with any other provision herein; 
 (f)    make such other provisions in
regard to matters or questions arising under this Agreement that do not adversely affect the interests of any Holders in any material respect as evidenced by an Officer’s Certificate; or 

(g)    conform the provisions of this Agreement to the description of the Units contained in the preliminary prospectus
supplement dated May 11, 2017 (as supplemented by the related term sheet dated May 11, 2017) relating to the Units under the sections entitled “Description of the Equity Units,” “Description of the Purchase Contracts,”
“Certain Provisions of the Purchase Contract and Pledge Agreement” and “Description of the Convertible Preferred Stock,” as evidenced by an Officer’s Certificate. 

Section 8.02. Supplemental Agreements with Consent of Holders. With the consent of the Holders of not less than a majority of the
Outstanding Purchase Contracts voting together as one class, by Act of said Holders delivered to the Company and the Purchase Contract Agent, the Company, when authorized by a Board Resolution, the Collateral Agent, the Securities Intermediary, the
Custodial Agent and the Purchase Contract Agent may enter into an agreement or agreements supplemental hereto for the purpose of modifying in any manner the terms of the Purchase Contracts, or the provisions of this Agreement or the rights of the
Holders in respect of the Units; provided however, that, except as contemplated herein, no supplemental agreement shall, without the consent of the Holder of each outstanding Purchase Contract affected thereby, 

(a)    subject to the Company’s right to defer Contract Adjustment Payments, change any Payment Date; 

(b)    change the amount or the type of Collateral required to be Pledged to secure a Holder’s obligations under any
Purchase Contract (except for the rights of holders of Corporate Units to substitute Cash for the Pledged Applicable Ownership Interests in Convertible Preferred Stock or the rights of Holders of Treasury Units to substitute shares of Convertible
Preferred Stock for the Treasury Securities); 

  
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 (c)    impair the right of the Holder of any Purchase Contract to receive
distributions on the related Collateral or otherwise adversely affect the Holder’s rights in or to such Collateral; 

(d)    impair the Holders’ right to institute suit for the enforcement of any Purchase Contract or any Contract
Adjustment Payments or deferred Contract Adjustment Payments (including Compounded Contract Adjustment Payments thereon); 

(e)    except as set forth in Section 5.06, reduce the number of shares of Common Stock to be purchased pursuant to
any Purchase Contract, increase the price to purchase shares of Common Stock upon settlement of any Purchase Contract or change the Purchase Contract Settlement Date or the right to Early Settlement or Fundamental Change Early Settlement; 

(f)    adversely affect the Holder’s rights under a Purchase Contract in any material respect, provided that
any amendment made solely to conform the provisions of this Agreement to the description of the Units and the Purchase Contracts contained in the Units Prospectus will not be deemed to adversely affect the interests of the Holders; 

(g)    reduce any Contract Adjustment Payments or any deferred Contract Adjustment Payments (including Compounded Contract
Adjustment Payments thereon) or change any place where, or the coin or currency or method in which, any Contract Adjustment Payment is payable; or 

(h)    reduce the percentage of the outstanding Purchase Contracts whose Holder’s consent is required for any
modification or amendment to the provisions of this Agreement or the Purchase Contracts; 
 provided that if any amendment or proposal referred to
above would adversely affect only the Corporate Units, only the Treasury Units or only the Cash Settled Units, then only the affected class of Holders as of the record date for the Holders entitled to vote thereon will be entitled to vote on such
amendment or proposal, and such amendment or proposal shall not be effective except with the consent of a majority of such Holders, or each such Holder affected thereby in the case of an amendment or proposal referred to in clauses (a) through
(h) above. 
 It shall not be necessary for any Act of Holders under this Section 8.02 to approve the particular form of any proposed
supplemental agreement, but it shall be sufficient if such Act shall approve the substance thereof. 
 Section 8.03.
Execution of Supplemental Agreements. In executing, or accepting the additional agencies created by any supplemental agreement permitted by this Article 8 or the modifications thereby of the agencies created by this Agreement, the
Purchase Contract Agent, the Collateral Agent, the Securities Intermediary and the Custodial Agent shall be provided, and (subject to Section 

  
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7.01 with respect to the Purchase Contract Agent) shall be fully authorized and protected in conclusively relying upon, an Officer’s Certificate and an Opinion of Counsel stating that
the execution of such supplemental agreement is authorized or permitted by this Agreement, that any and all conditions precedent to the execution and delivery of such supplemental agreement have been satisfied and that the supplemental
agreement is the legal, valid and binding obligation of the Company, enforceable against the Company in accordance with its terms. The Purchase Contract Agent, the Collateral Agent, the Securities Intermediary and the Custodial Agent may, but shall
not be obligated to, enter into any such supplemental agreement which affects their own rights, duties or immunities under this Agreement or otherwise. 

Section 8.04. Effect of Supplemental Agreements. Upon the execution of any supplemental agreement under this Article 8, this
Agreement shall be modified in accordance therewith, and such supplemental agreement shall form a part of this Agreement for all purposes; and every Holder of Certificates theretofore or thereafter authenticated, executed on behalf of
the Holders and delivered hereunder, shall be bound thereby. 
 Section 8.05. Reference to Supplemental Agreements. Certificates
authenticated, executed on behalf of the Holders and delivered after the execution of any supplemental agreement pursuant to this Article 8 may, and shall if required by the Purchase Contract Agent, bear a notation in form
approved by the Purchase Contract Agent as to any matter provided for in such supplemental agreement. If the Company shall so determine, new Certificates so modified as to conform, in the opinion of the Purchase Contract Agent and the
Company, to any such supplemental agreement may be prepared and executed by the Company and authenticated, executed on behalf of the Holders and delivered by the Purchase Contract Agent in exchange for outstanding Certificates. 

ARTICLE 9 

CONSOLIDATION, MERGER, SALE, CONVEYANCE, TRANSFER OR
DISPOSITION 
 Section 9.01. Covenant Not To Consolidate, Merge, Sell, Convey, Transfer or Dispose Property except
under Certain Conditions. The Company covenants that it will not merge or consolidate with any other Person or sell, convey, transfer, assign or otherwise dispose of all or substantially all of its assets, unless: 

(a)    either the Company shall be the surviving Person, or the successor (if other than the Company) shall be a Person
duly organized and existing under the laws of the United States, any state thereof or the District of Columbia and treated as a corporation for U.S. federal income tax purposes and such entity shall expressly assume all the obligations of the
Company under the Purchase Contracts, this Agreement (including the Pledge provided for herein), the 

  
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Convertible Preferred Stock (including any supplement thereto) and the Remarketing Agreement by one or more supplemental agreements, executed and delivered to the Purchase Contract
Agent and the Collateral Agent by such Person; 
 (b)    the Company or such successor Person shall not,
immediately after such merger, consolidation, sale, conveyance, transfer, assignment or other disposition, be in default of payment obligations under the Purchase Contracts, this Agreement, the Convertible Preferred Stock (including any
supplement thereto) or the Remarketing Agreement or in material default in the performance of any other covenants under any of the foregoing agreements; and 

(c)    an Officer’s Certificate and Opinion of Counsel shall be delivered to the Purchase Contract Agent and the
Collateral Agent providing that the conditions precedent to such merger, consolidation or sale and the execution and delivery of any supplemental agreement in connection therewith have been complied with. 

Section 9.02. Rights and Duties of Successor Corporation. In case of any such merger, consolidation, sale, conveyance (other than
by way of lease), transfer, assignment or other disposition and upon any such assumption by a successor Person in accordance with Section 9.01, such surviving Person shall succeed to and be substituted for the Company with the
same effect as if it had been named herein as the Company and the Company shall be relieved of any further obligation hereunder and under the Units. Such surviving Person thereupon may cause to be signed, and may issue either in its
own name or in the name of Stanley Black & Decker, Inc. any or all of the Certificates evidencing Units issuable hereunder which theretofore shall not have been signed by the Company and delivered to the Purchase Contract Agent; and,
upon the order of such surviving Person, instead of the Company, and subject to all the terms, conditions and limitations in this Agreement prescribed, the Purchase Contract Agent shall authenticate and execute on behalf of the Holders
and deliver any Certificates which previously shall have been signed and delivered by the officers of the Company to the Purchase Contract Agent for authentication and execution, and any Certificate evidencing Units which such surviving
Person thereafter shall cause to be signed and delivered to the Purchase Contract Agent for that purpose. All the Certificates issued shall in all respects have the same legal rank and benefit under this Agreement as the Certificates
theretofore or thereafter issued in accordance with the terms of this Agreement as though all of such Certificates had been issued at the date of the execution hereof. In case of any such merger, consolidation, sale, assignment,
transfer, or disposition such change in phraseology and form (but not in substance) may be made in the Certificates evidencing Units thereafter to be issued as may be appropriate. 

Section 9.03. Opinion of Counsel Given to Purchase Contract Agent. The Purchase Contract Agent, subject to Section 7.01 and
Section 7.03, shall receive an Opinion of Counsel as conclusive evidence that any such merger, consolidation, sale, assignment, transfer, or disposition, and any such assumption, complies with

  
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the provisions of this Article 9 and that all conditions precedent to the consummation of any such merger, consolidation, sale, conveyance, transfer or other disposition have been met.

 ARTICLE 10 

COVENANTS 

Section 10.01. Performance under Purchase Contracts. The Company covenants and agrees for the benefit of the Holders from time to
time of the Units that it will duly and punctually perform its obligations under the Purchase Contracts in accordance with the terms of the Purchase Contracts and this Agreement. 

Section 10.02. Maintenance of Office or Agency. The Company will maintain in the Borough of Manhattan, City of New York, New York
an office or agency where Certificates may be presented or surrendered for acquisition of shares of Common Stock upon settlement of the Purchase Contracts on the Purchase Contract Settlement Date, or upon Early Settlement or
Fundamental Change Early Settlement and for transfer of Collateral upon occurrence of a Termination Event, where Certificates may be surrendered for registration of transfer or exchange, or for a Collateral Substitution and where notices
and demands to or upon the Company in respect of the Units and this Agreement may be served. The Company will give prompt written notice to the Purchase Contract Agent of the location, and any change in the location, of such office or
agency. The Company initially designates the Corporate Trust Office of the Purchase Contract Agent as such office of the Company. If at any time the Company shall fail to maintain any such required office or agency or shall fail to
furnish the Purchase Contract Agent with the address thereof, such presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office, and the Company hereby appoints the Purchase Contract Agent as its agent to
receive all such presentations, surrenders, notices and demands. 
 The Company may also from time to time designate one or more
other offices or agencies where Certificates may be presented or surrendered for any or all such purposes and may from time to time rescind such designations; provided, however, that no such designation or rescission shall in any
manner relieve the Company of its obligation to maintain an office or agency in the Borough of Manhattan, City of New York, New York for such purposes. The Company will give prompt written notice to the Purchase Contract Agent of any
such designation or rescission and of any change in the location of any such other office or agency. The Company hereby designates as the place of payment for the Units the Corporate Trust Office and appoints the Purchase Contract
Agent at its Corporate Trust Office as paying agent in such city. 

  
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 Section 10.03. Company to Reserve Common Stock. The Company shall at all times prior
to the Purchase Contract Settlement Date reserve and keep available, free from preemptive rights, out of its authorized but unissued Common Stock the full number of shares of Common Stock issuable against tender of payment in respect
of all Purchase Contracts constituting a part of the Units evidenced by Outstanding Certificates (including the maximum number of Make-Whole Shares). 

Section 10.04. Covenants as to Common Stock; Listing. (a) The Company covenants that all shares of Common Stock which may be
issued against tender of payment in respect of, or in respect of any Contract Adjustment Payment on, any Purchase Contract constituting a part of the Outstanding Units will, upon issuance, be duly authorized, validly issued, fully paid
and nonassessable. The Company shall comply, in all material respects, with all applicable securities laws regulating the offer, issuance and delivery of shares of Common Stock upon settlement of, or in respect of any Contract Adjustment
Payment on, Purchase Contracts and will issue such shares of Common Stock as freely-tradable shares, except to the extent holders thereof are underwriters (within the meaning of the Securities Act) or Affiliates of the Company. 

(b)    The Company further covenants that, if at any time the Common Stock shall be listed on the NYSE or any other
national securities exchange or automated quotation system, the Company will, if permitted by the rules of such exchange or automated quotation system, list and keep listed, so long as the Common Stock shall be so listed on such
exchange or automated quotation system, all Common Stock issuable upon settlement of, or issuable in respect of Contract Adjustment Payments on, Purchase Contracts; provided, however, that, if the rules of such exchange or automated
quotation system permit the Company to defer the listing of such Common Stock until the earlier of (i) the date on which any Purchase Contract is first settled in accordance with the provisions of this Agreement and (ii) the first
payment of any Contract Adjustment Payment in shares of Common Stock, the Company covenants to list such Common Stock issuable upon the earlier of (x) settlement of the Purchase Contracts and (y) the first payment of any Contract
Adjustment Payment in shares of Common Stock, in accordance with the requirements of such exchange or automated quotation system no later than at such time. 

Section 10.05. ERISA. Each Holder from time to time of the Units that is a Plan or who used assets of a Plan to purchase Units
hereby represents that either (a) no portion of the assets used by such Holder to acquire the Corporate Units constitutes assets of the Plan or (b) the purchase or holding of the Corporate Units by such purchaser or
transferee will not constitute a non-exempt prohibited transaction under Section 406 of ERISA or Section 4975 of the Code or similar violation under any applicable laws. 

Section 10.06. Tax Treatment. The Company covenants and agrees, for United States federal income tax purposes, to
(a) treat a Holder’s acquisition of 

  
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the Corporate Units as the acquisition of the Convertible Preferred Stock and Purchase Contract constituting the Corporate Units and (b) treat each Holder as the owner of the
Collateral, including the Convertible Preferred Stock or the Treasury Securities. 
 Section 10.07. Withholding. Notwithstanding
anything to the contrary, the Company, the Purchase Contract Agent, the Collateral Agent, the Custodial Agent, the Remarketing Agent and the Securities Intermediary, as applicable, shall have the right to deduct and withhold from any payment or
distribution (or deemed distribution) made with respect to a Purchase Contract or any share of Convertible Preferred Stock (or the delivery of shares of Common Stock and/or cash upon conversion of Convertible Preferred Stock or settlement of a
Purchase Contract) such amounts as are required to be deducted or withheld with respect to the making of such payment or distribution (or delivery) under applicable tax law without liability therefor. To the extent that any amounts are so deducted
or withheld, such deducted or withheld amounts shall be treated for all purposes as having been paid (or delivered) to the applicable Holder. In the event the Company, the Purchase Contract Agent, the Collateral Agent, the Custodial Agent, the
Remarketing Agent or the Securities Intermediary previously remitted any amounts to a governmental entity on account of taxes required to be deducted or withheld in respect of any payment or distribution (or deemed distribution) or delivery with
respect to a Purchase Contract or any share of Convertible Preferred Stock with respect to an applicable Holder, the Company, the Purchase Contract Agent, the Collateral Agent, the Custodial Agent, the Remarketing Agent or the Securities
Intermediary, as applicable, shall be entitled to offset any such amounts against any amounts otherwise payable or deliverable to the applicable Holder hereunder or under any other instrument or agreement. 

ARTICLE 11 

PLEDGE 

Section 11.01. Pledge. Each Holder, acting through the Purchase Contract Agent as such Holder’s attorney-in-fact, and the Purchase Contract Agent, acting solely as such attorney-in-fact,
hereby pledges and grants to the Collateral Agent, as agent of and for the benefit of the Company, a continuing first priority security interest in and to, and a lien upon and right of set-off against,
all of such Person’s right, title and interest in and to the Collateral to secure the prompt and complete payment and performance when due (whether at stated maturity, by acceleration or otherwise) of the Obligations. The
Collateral Agent shall have all of the rights, remedies and recourses with respect to the Collateral afforded a secured party by the UCC, in addition to, and not in limitation of, the other rights, remedies and recourses afforded to the
Collateral Agent by this Agreement. 

  
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 Section 11.02. Termination. As to each Holder, the Pledge created hereby shall
terminate upon the satisfaction of such Holder’s Obligations. Upon a Termination Event (and subject to the Collateral Agent’s notification thereof by the Purchase Contract Agent), the Collateral Agent shall instruct the
Securities Intermediary to Transfer such portion of the Collateral attributable to such Holder to the Purchase Contract Agent for distribution to such Holder, free and clear of the Pledge created hereby. 

ARTICLE 12 

ADMINISTRATION OF COLLATERAL 

Section 12.01. Initial Deposit of Convertible Preferred Stock. (a) Prior to or concurrently with the execution and delivery
of this Agreement, the Company shall cause the Transfer Agent to transfer, through the applicable procedures of the Depositary, for credit to the Collateral Account, the Applicable Ownership Interests in Convertible Preferred Stock and the
shares of Convertible Preferred Stock underlying such Applicable Ownership Interests in Convertible Preferred Stock or security entitlements relating thereto and the Securities Intermediary shall indicate by book-entry that a securities
entitlement with respect to such Applicable Ownership Interests in Convertible Preferred Stock (and the shares of Convertible Preferred Stock underlying such Applicable Ownership Interests in Convertible Preferred Stock) has been credited to the
Collateral Account. 
 (b)    The Collateral Agent may, but shall not be obligated to, at any time or from time to time,
in its sole discretion, cause any or all securities or other property underlying any financial assets credited to the Collateral Account to be registered in the name of the Securities Intermediary, the Collateral Agent or their
respective nominees; provided, however, that unless any breach under the Convertible Preferred Stock shall have occurred and be continuing, the Collateral Agent agrees not to cause any Convertible Preferred Stock to be so re-registered. 
 Section 12.02. Establishment of Collateral Account. The Securities
Intermediary hereby confirms that: 
 (a)    the Securities Intermediary has established the Collateral Account; 

(b)    the Collateral Account is a securities account and a “securities account” as defined in Article 1(b) of
the Hague Securities Convention; 
 (c)    subject to the terms of this Agreement, the Securities Intermediary shall
identify in its records the Collateral Agent as the entitlement holder entitled to exercise the rights that comprise any financial asset credited to the Collateral Account; 

(d)    all property delivered to the Securities Intermediary pursuant to this Agreement, including any Cash, Applicable
Ownership Interests in the Treasury Portfolio or Treasury Securities and the Permitted Investments, shall be credited promptly to the Collateral Account; 

  
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 (e)    all securities or other property underlying any financial assets
credited to the Collateral Account shall be (i) registered in the name of the Purchase Contract Agent and indorsed, without recourse or representation, to the Securities Intermediary or in blank, (ii) registered in the name of
the Securities Intermediary or (iii) credited to another securities account maintained in the name of the Securities Intermediary. In no case shall any financial asset credited to the Collateral Account be registered in the name
of the Purchase Contract Agent (in its capacity as such) or any Holder or specially indorsed to the Purchase Contract Agent (in its capacity as such) or any Holder, unless such financial asset has been further indorsed to the Securities
Intermediary or in blank; and 
 (f)    the Securities Intermediary is an “intermediary” (as defined in
Article 1(c) of the Hague Securities Convention). 
 In addition, the Securities Intermediary hereby confirms and agrees that (i) it is
a “securities intermediary” (as defined in Section 8-102(a)(14) of the UCC) in respect of the Collateral Account, and that all properties (except for Cash) credited to the Collateral Account shall be
treated as “financial assets” (as defined in Section 8-102(a)(9) of the UCC), and (ii) with respect to all Cash held, credited, or carried by, in or to the Collateral Account, the Securities
Intermediary shall maintain such Collateral Account as a “deposit account” within the meaning of Section 9-102 of the UCC. The Securities Intermediary confirms that it is acting as a bank within
the meaning of Article 9 of the UCC with respect to any Cash that may be held, credited, or carried by or in the Collateral Account. 

Section 12.03. Treatment as Financial Assets. Each item of property (whether investment property, financial asset, security or
instrument, but other than Cash) credited to the Collateral Account shall be treated as a financial asset. 
 Section 12.04.
Sole Control by Collateral Agent. Except as provided in Section 15.01, at all times prior to the termination of the Pledge, the Collateral Agent shall have sole control of the Collateral Account, and the Securities Intermediary shall
take instructions and directions, and comply with entitlement orders, with respect to the Collateral Account or any financial asset credited thereto solely from the Collateral Agent as set forth in this Agreement. If at any time the
Securities Intermediary shall receive an entitlement order or an instruction directing the disposition of funds in the Collateral Account issued by the Collateral Agent and relating to the Collateral Account, the Securities Intermediary shall
comply with such entitlement order or instruction without further consent by the Purchase Contract Agent or any Holder or any other Person. Except as otherwise permitted under this Agreement, until termination of the Pledge, the Securities
Intermediary shall not comply with any entitlement orders issued by the Purchase Contract Agent or any Holder. 

  
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 Section 12.05. Jurisdiction. The Collateral Account, and the rights and obligations
of the Securities Intermediary, the Collateral Agent, the Purchase Contract Agent and the Holders with respect thereto, shall be governed by the laws of the State of New York. Regardless of any provision in any other agreement, for the
purposes of the UCC the Securities Intermediary’s jurisdiction is the State of New York. In addition, to the extent that any agreements between the Securities Intermediary and any other Person governing the Collateral Account (collectively, the
“Account Agreements”) do not provide that the laws of the State of New York shall govern all of the issues specified in Article 2(1) of the Hague Securities Convention, each Account Agreement is hereby amended to provide that the
law applicable to all of the issues specified in Article 2(1) of the Hague Securities Convention shall be the laws of the State of New York. The Securities Intermediary represents that each Account Agreement (a) is governed by the laws of the
State of New York and (b) if any Account Agreement expressly provides that a law is applicable to all the issues specified in Article 2(1) of the Hague Securities Convention, that law is the laws of the State of New York. At the time of its
entry into the governing law provisions of this Agreement, the Securities Intermediary had an office located in the United States that was not a temporary office and that engaged in a business or other regular activity of maintaining securities
accounts. 
 Section 12.06. No Other Claims. Except for the claims and interest of the Collateral Agent and of the Purchase
Contract Agent and the Holders in the Collateral Account, the Securities Intermediary (without having conducted any investigation) does not know of any claim to, or interest in, the Collateral Account or in any Cash or financial asset
credited thereto. If any Person asserts any lien, encumbrance or adverse claim (including any writ, garnishment, judgment, warrant of attachment, execution or similar process) against the Collateral Account or in any Cash or financial asset
carried therein, the Securities Intermediary shall promptly notify the Collateral Agent and the Purchase Contract Agent. 

Section 12.07. Investment and Release.  

(a)    All proceeds of financial assets from time to time credited to the Collateral Account shall be invested and
reinvested as provided in this Agreement. At all times prior to termination of the Pledge, no property shall be released from the Collateral Account except in accordance with this Agreement or upon written instructions of the Collateral
Agent. 
 (b)    In the event that any shares of Convertible Preferred Stock underlying Pledged Applicable Ownership
Interests in Convertible Preferred Stock are to be released from the Pledge following a Termination Event, Collateral Substitution, Successful Remarketing, Early Settlement or Fundamental Change Early Settlement (a “Released
Share”), and the Pledged Applicable Ownership Interests in Convertible Preferred Stock are represented by a physical certificate in the name of the Purchase Contract Agent held by the Collateral

  
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Agent, such release and delivery shall be evidenced by an endorsement by the Collateral Agent on the certificate held by the Collateral Agent (the “Pledged Convertible Preferred
Share”) reflecting a reduction in the number of shares of Convertible Preferred Stock represented by such Pledged Convertible Preferred Share equal in amount (the “Reduced Balance”) to the number of the Released Shares. The
Collateral Agent shall confirm any such Reduced Balance by telecopying or otherwise delivering a photocopy of such endorsement made on the Pledged Convertible Preferred Share evidencing such Reduced Balance to the Transfer Agent at the telecopier
number or address of the Transfer Agent provided for notices to the Transfer Agent in the Purchase Contract and Pledge Agreement (or at such other telecopier or address as the Transfer Agent shall provide to the Collateral Agent). Upon receipt of
such confirmation, the Transfer Agent shall instruct the Custodial Agent to increase the balance of a Global Preferred Share held by the Custodial Agent in an amount equal to the Reduced Balance by an endorsement made by the Custodial Agent on such
Global Preferred Share to reflect such increase. In the event that a share of Convertible Preferred Stock is transferred to the Collateral Agent pursuant to Section 3.15 (a “Subjected Share”) in connection with the recreation
of Corporate Units, such transfer shall be evidenced by an endorsement by the Collateral Agent on the Pledged Convertible Preferred Share held by the Collateral Agent reflecting an increase in the balance of such Pledged Convertible Preferred Share
equal in amount (the “Increased Balance”) to the number of such Subjected Shares. The Collateral Agent shall confirm any such Increased Balance by telecopying or otherwise delivering a photocopy of such endorsement made on the
Pledged Convertible Preferred Share evidencing such Increased Balance to the Transfer Agent at the telecopier number or address of the Transfer Agent provided for notices to the Transfer Agent (or at such other telecopier or address as the Transfer
Agent shall provide to the Collateral Agent). Upon receipt of such confirmation, the Transfer Agent shall instruct the Custodial Agent to decrease the balance of the Global Preferred Share held by the Custodial Agent in an amount equal to the
Increased Balance by an endorsement made by the Custodial Agent on such Global Preferred Share to reflect such decrease. The release and delivery of any Released Share in the case where the Pledged Applicable Ownership Interests in Convertible
Preferred Stock are represented by a Global Preferred Share shall be effected by a transfer of such Released Share to an account at the Depositary specified by the holder of such Released Share to the Purchase Contract Agent and Collateral Agent and
otherwise in accordance with the terms of the relevant provision of this Agreement. 
 Section 12.08. Treasury Securities.
Promptly following receipt of the Treasury Securities in substitution of any Convertible Preferred Stock underlying Pledged Applicable Ownership Interests in Convertible Preferred Stock upon creation of Treasury Units, the Collateral Agent shall
notify the Company of such receipt of Treasury Securities. 

  
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 Section 12.09. Statements and Confirmations. The Securities Intermediary shall
promptly send copies of all statements, confirmations and other correspondence concerning the Collateral Account and any Cash or financial assets credited thereto simultaneously to each of the Purchase Contract Agent and the Collateral
Agent at their addresses for notices under this Agreement. 
 Section 12.10. Tax Allocations. The Purchase Contract Agent shall
report all items of income, gain, expense and loss recognized in the Collateral Account, to the extent such reporting is required by law, to the Internal Revenue Service authorities in the manner required by law. None of the Securities
Intermediary, the Collateral Agent nor the Custodial Agent shall have any tax reporting duties hereunder. 
 Section 12.11. No
Other Agreements. The Securities Intermediary, acting solely in its capacity as Securities Intermediary, has not entered into, and prior to the termination of the Pledge shall not enter into, any agreement with any other Person relating
to the Collateral Account or any Cash or financial assets credited thereto, including, without limitation, any agreement to comply with entitlement orders of any Person other than the Collateral Agent. 

Section 12.12. Powers Coupled with an Interest. The rights and powers granted in this Purchase Contract and Pledge Agreement to
the Collateral Agent have been granted in order to perfect its security interests in the Collateral Account, are powers coupled with an interest and will be affected neither by the bankruptcy of the Purchase Contract Agent or any
Holder nor by the lapse of time. The obligations of the Securities Intermediary under this Purchase Contract and Pledge Agreement shall continue in effect until the termination of the Pledge. 

Section 12.13. Waiver of Lien Waiver of Set-off. The Securities Intermediary waives any
security interest, lien or right to make deductions or set-offs that it may now have or hereafter acquire in or with respect to the Collateral Account, any Cash or financial asset credited thereto or
any security entitlement in respect thereof. Neither the Cash or financial assets credited to the Collateral Account nor the security entitlements in respect thereof will be subject to deduction,
set-off, banker’s lien, or any other right in favor of any person other than the Company. 

ARTICLE 13 

RIGHTS AND REMEDIES OF THE COLLATERAL
AGENT 
 Section 13.01. Rights and Remedies of the Collateral Agent. (a) In addition to the rights and
remedies set forth herein or otherwise available at law or in equity, after a collateral event of default (as specified in Section 13.01(b) below) hereunder, the Collateral Agent shall have all of the rights and remedies with respect
to the Collateral of a secured party under the UCC (whether or not the UCC is in effect in the jurisdiction where the rights and remedies are asserted) 

  
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and the TRADES Regulations and such additional rights and remedies to which a secured party is entitled under the laws in effect in any jurisdiction where any rights and remedies hereunder may be
asserted. Without limiting the generality of the foregoing, such remedies may include, to the extent permitted by applicable law, (1) retention of the Convertible Preferred Stock underlying Pledged Applicable Ownership Interests in Convertible
Preferred Stock, the Pledged Treasury Securities, the Pledged Applicable Ownership Interests in the Treasury Portfolio and/or the Pledged Cash in full satisfaction of the Holders’ obligations under the Purchase Contracts and the Purchase
Contract Agreement and/or (2) sale of the Convertible Preferred Stock underlying Pledged Applicable Ownership Interests in Convertible Preferred Stock, the Pledged Treasury Securities or the Pledged Applicable Ownership Interests in the
Treasury Portfolio in one or more public or private sales. 
 (b)    Without limiting any rights or powers otherwise
granted by this Agreement to the Collateral Agent, in the event the Collateral Agent is unable to make payments to the Company on account of Proceeds of (i) the Convertible Preferred Stock underlying Pledged Applicable Ownership
Interests in Convertible Preferred Stock, (ii) Pledged Applicable Ownership Interests in the Treasury Portfolio, (iii) Pledged Cash or (iv) the Pledged Treasury Securities as provided in this Agreement in satisfaction of the
Obligations of the Holder of the Units of which such Convertible Preferred Stock underlying Pledged Applicable Ownership Interests in Convertible Preferred Stock, such Pledged Applicable Ownership Interests in the Treasury Portfolio, such Pledged
Cash or such Pledged Treasury Securities are a part under the related Purchase Contracts, the inability to make such payments shall constitute a “collateral event of default” hereunder and the Collateral Agent shall, for the benefit
of the Company, have and may exercise, with reference to such Convertible Preferred Stock underlying Pledged Applicable Ownership Interests in Convertible Preferred Stock, Pledged Treasury Securities, Pledged Cash or Pledged Applicable Ownership
Interests in the Treasury Portfolio, as applicable, any and all of the rights and remedies available to a secured party under the UCC and the TRADES Regulations after default by a debtor, and as otherwise granted herein or under any applicable law.

 (c)    Without limiting any rights or powers otherwise granted by this Agreement to the Collateral Agent, the
Collateral Agent is hereby irrevocably authorized to receive, collect and apply to the satisfaction of the Obligations all payments with respect to (i) the Convertible Preferred Stock underlying Pledged Applicable Ownership Interests in
Convertible Preferred Stock, (ii) the Pledged Treasury Securities, the (iii) Pledged Cash and (iv) the Pledged Applicable Ownership Interests in the Treasury Portfolio, subject, in each case, to the provisions of this Agreement, and
as otherwise provided herein. 
 (d)    Subject to Section 7.04, the Purchase Contract Agent and each Holder agrees
that, from time to time, the Purchase Contract Agent, on behalf of such Holder, shall execute and deliver such further documents and do such other acts and things as the Company may reasonably request in order to maintain the

  
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Pledge, and the perfection and priority thereof, and to confirm the rights of the Collateral Agent hereunder. The Purchase Contract Agent shall have no liability to any Holder for the
maintenance of the Pledge or the perfection or priority hereof or for executing any documents, except for liability for its own grossly negligent acts, its own grossly negligent failure to act or its own willful misconduct. 

(e)    The Collateral Agent, the Securities Intermediary and the Custodial Agent shall be entitled to all of the rights,
protections, privileges and immunities set forth in Article 7 for the benefit of the Purchase Contract Agent. 
 ARTICLE 14 

REPRESENTATIONS AND WARRANTIES TO COLLATERAL AGENT;
HOLDER 
 COVENANTS 

Section 14.01. Representations And Warranties. Each Holder from time to time, acting through the Purchase Contract Agent as attorney-in-fact (it being understood that the Purchase Contract Agent shall not be liable for any representation or warranty made by or on behalf of a Holder),
hereby represents and warrants to the Collateral Agent (with respect to such Holder’s interest in the Collateral), which representations and warranties shall be deemed repeated on each day a Holder effects a Transfer of
Collateral, that: 
 (a)    such Holder has the power to grant a security interest in and lien on the Collateral; 

(b)    such Holder is the sole beneficial owner of the Collateral and, in the case of Collateral delivered in physical
form, is the sole holder of such Collateral and is the sole beneficial owner of, or has the right to Transfer, the Collateral it Transfers to the Collateral Agent for credit to the Collateral Account, free and clear of any security
interest, lien, encumbrance, call, liability to pay money or other restriction other than the security interest and lien granted under Article 11; 

(c)    upon the Transfer of the Collateral to the Securities Intermediary for credit to the Collateral Account, the
Collateral Agent, for the benefit of the Company, will have a valid and perfected first priority security interest therein (assuming that any central clearing operation or any securities intermediary or other entity not within the
control of the Holder involved in the Transfer of the Collateral, including the Collateral Agent and the Securities Intermediary, gives the notices and takes the action required of it hereunder and under applicable law for perfection of that
interest and assuming the establishment and exercise of control pursuant to Article 12 hereof); and 
 (d)    the
execution and performance by the Holder of its obligations under this Agreement will not result in the creation of any security interest, lien or other encumbrance on the Collateral (other than the security interest and lien

  
 115 

 granted under Article 11 hereof) or violate any provision of any existing law or regulation applicable to
it or of any mortgage, charge, pledge, indenture, contract or undertaking to which it is a party or which is binding on it or any of its assets. 

Section 14.02. Covenants. The Purchase Contract Agent and the Holders from time to time, acting through the Purchase Contract
Agent as their attorney-in-fact (it being understood that the Purchase Contract Agent shall not be liable for any covenant made by or on behalf of a Holder),
hereby covenant to the Collateral Agent that for so long as the Collateral remains subject to the Pledge: 

(a)    neither the Purchase Contract Agent nor such Holders will create or purport to create or allow to subsist any
mortgage, charge, lien, pledge or any other security interest whatsoever over the Collateral or any part of it other than pursuant to this Agreement; and 

(b)    neither the Purchase Contract Agent nor such Holders will sell or otherwise dispose (or attempt to dispose) of the
Collateral or any part of it except for the beneficial interest therein, subject to the Pledge hereunder, transferred in connection with a Transfer of the Units. 

ARTICLE 15 

THE COLLATERAL AGENT, THE CUSTODIAL AGENT
AND THE SECURITIES 
 INTERMEDIARY 

It is hereby agreed as follows: 

Section 15.01. Appointment, Powers and Immunities. The Collateral Agent, the Custodial Agent and the Securities Intermediary shall
act as agent for the Company hereunder with such powers as are specifically vested in the Collateral Agent, the Custodial Agent and the Securities Intermediary, as the case may be, by the terms of this Agreement. The Collateral Agent,
the Custodial Agent and Securities Intermediary shall: 
 (a)    have no duties, responsibilities, covenants or
obligations except those expressly set forth in this Agreement and no implied covenants, functions, responsibilities, duties, liabilities or obligations shall be inferred from this Agreement against the Collateral Agent, the Custodial Agent
or the Securities Intermediary, nor shall the Collateral Agent, the Custodial Agent or the Securities Intermediary be bound by the provisions of any agreement by any party hereto beyond the specific terms hereof and none of the
Collateral Agent, the Custodial Agent or the Securities Intermediary shall have any fiduciary duty to the Holders or any other Person, and in acting hereunder, the Collateral Agent, Custodial Agent and Securities Intermediary shall act solely
as an agent of the Company and will not thereby assume any obligations towards or relationship of agency or trust for or with any of the Holders or any other third party; 

  
 116 

 (b)    not be responsible for any recitals contained in this Agreement, or in
any certificate or other document referred to or provided for in, or received by it under, this Agreement or the Units, or for the value, validity, effectiveness, genuineness, enforceability or sufficiency of this Agreement (other than
as against the Collateral Agent, the Custodial Agent or the Securities Intermediary, as the case may be), the Units, any Collateral or any other document referred to or provided for herein or therein or for any failure by the Company or any
other Person (except the Collateral Agent, the Custodial Agent or Securities Intermediary, as the case may be) to perform any of its obligations hereunder or thereunder or, for the perfection, priority or maintenance of any security
interest created hereunder; 
 (c)    not be required to initiate or conduct any litigation or collection proceedings
hereunder (except pursuant to directions furnished under Section 15.02 hereof, subject to Section 15.08 hereof); 

(d)    not be responsible or liable for any action taken or omitted to be taken by it hereunder or under any other
document or instrument referred to or provided for herein or in connection herewith or therewith or for any loss or injury resulting from its actions or its performance of its duties hereunder, except for its own gross negligence or willful
misconduct as finally determined by a court of competent jurisdiction; 
 (e)    not be required to advise any
party as to selling or retaining, or taking or refraining from taking any action with respect to, any securities or other property deposited hereunder; 

(f)    not incur any liability for not performing any act or fulfilling any duty, obligation or responsibility hereunder
by reason of any occurrence beyond the control of the Collateral Agent, the Custodial Agent or the Securities Intermediary (including but not limited to any act or provision of any present or future law or regulation or governmental authority, any
act of God or war, civil unrest, local or national disturbance or disaster, any act of terrorism, or the unavailability of the Federal Reserve Bank wire or facsimile or other wire or communication facility); and 

(g)    the obligations of the Purchase Contract Agent, the Collateral Agent, the Custodial Agent and the Securities
Intermediary under this Agreement are several and not joint. 
 Subject to the foregoing, during the term of this Agreement, the Collateral
Agent, the Custodial Agent and the Securities Intermediary shall take all reasonable action in connection with the safekeeping and preservation of the Collateral hereunder as determined by industry standards. The Collateral Agent, the
Securities Intermediary and the Custodial Agent shall not be responsible for and make no representation as to the existence, genuineness, value or protection of any Collateral, for the legality, effectiveness or sufficiency of any Security Document,
or for the creation, perfection, priority, sufficiency or protection of any liens securing the Convertible Preferred Stock. 

  
 117 

 The Collateral Agent, the Custodial Agent and the Securities Intermediary shall only be
responsible for transferring money, securities or other property in accordance with the terms herein to the extent that such money, securities or other property is credited to the Collateral Account. 

No provision of this Agreement shall require the Collateral Agent, the Custodial Agent or the Securities Intermediary to expend or risk its
own funds or otherwise incur any liability, financial or otherwise, in the performance of any of its duties or the exercise of any of its rights or powers hereunder. In no event shall the Collateral Agent, the Custodial Agent or the
Securities Intermediary be liable for any amount in excess of the Value of the Collateral. 
 Section 15.02. Instructions of the
Company. The Company shall have the right, by one or more written instruments executed and delivered to the Collateral Agent, to direct the time, method and place of conducting any proceeding for the realization of any right or remedy
available to the Collateral Agent, or of exercising any power conferred on the Collateral Agent, or to direct the taking or refraining from taking of any action authorized by this Agreement; provided, however, that (a) such
direction shall not conflict with the provisions of any law or of this Agreement or involve the Collateral Agent in personal liability and (b) the Collateral Agent shall be indemnified to its satisfaction as provided herein. Nothing
contained in this Section 15.02 shall impair the right of the Collateral Agent to take any action or omit to take any action which it deems proper and which is not inconsistent with such direction. None of the Collateral Agent,
the Custodial Agent or the Securities Intermediary has any obligation or responsibility to file UCC financing or continuation statements or to take any other actions to create, preserve or maintain the security interest in the Collateral. 

Section 15.03. Reliance by Collateral Agent, Custodial Agent and Securities Intermediary. Each of the Securities Intermediary, the
Custodial Agent and the Collateral Agent shall be entitled to rely conclusively upon any certification, order, judgment, opinion, notice or other written communication (including, without limitation, any thereof by
e-mail or similar electronic means, telecopy or facsimile) believed by it in good faith to be genuine and correct and to have been signed or sent by or on behalf of the proper Person or Persons (without being
required to determine the correctness of any fact stated therein) and consult with and conclusively rely upon advice, opinions and statements of legal counsel and other experts selected by the Collateral Agent, the Custodial Agent or the Securities
Intermediary, as the case may be, in each case, at the expense of the Company. As to any matters not expressly provided for by this Agreement, the Collateral Agent, the Custodial Agent and the Securities Intermediary shall in all cases be fully
protected in acting, or in refraining from acting, hereunder in accordance with instructions given by the Company in accordance with this Agreement. 

  
 118 

 In each case that the Collateral Agent, the Custodial Agent or the Securities Intermediary may or
is required hereunder to take any action, including without limitation to make any determination or judgment, to give consents, to exercise rights, powers or remedies, to release or sell Collateral or otherwise to act hereunder, the
Collateral Agent, the Custodial Agent or Securities Intermediary may seek direction from the Company. The Collateral Agent, the Custodial Agent or Securities Intermediary shall not be liable with respect to any action taken or omitted to be
taken by it in accordance with the direction from the Company. Unless direction or otherwise is expressly provided herein, if the Collateral Agent, the Custodial Agent or the Securities Intermediary shall request direction from the
Company with respect to any action, the Collateral Agent, the Custodial Agent or the Securities Intermediary shall be entitled to refrain from such action unless and until such agent shall have received direction from the Company, and the
agent shall not incur liability to any Person by reason of so refraining.  
 Section 15.04. Certain Rights.
(a) Whenever in the administration of the provisions of this Agreement the Collateral Agent, the Custodial Agent or the Securities Intermediary shall deem it necessary or desirable that a matter be proved or established prior to
taking or suffering any action to be taken hereunder, such matter (unless other evidence in respect thereof be herein specifically prescribed) may, in the absence of gross negligence or willful misconduct on the part of the Collateral
Agent, the Custodial Agent or the Securities Intermediary, be deemed to be conclusively proved and established by a certificate signed by one of the Company’s officers, and delivered to the Collateral Agent, the Custodial Agent or the
Securities Intermediary and such certificate, in the absence of gross negligence or willful misconduct on the part of the Collateral Agent, the Custodial Agent or the Securities Intermediary, shall be full warrant to the Collateral Agent, the
Custodial Agent or the Securities Intermediary for any action taken, suffered or omitted by it under the provisions of this Agreement upon the faith thereof. 

(b)    The Collateral Agent, the Custodial Agent or the Securities Intermediary shall not be bound to make any
investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, consent, entitlement order, approval or other paper or document. 

Section 15.05. Merger, Conversion, Consolidation or Succession to Business. Any Person into which the Collateral Agent, the
Custodial Agent or the Securities Intermediary may be merged or converted or with which it may be consolidated, or any Person resulting from any merger, conversion or consolidation to which the Collateral Agent, the Custodial Agent or
the Securities Intermediary shall be a party, or any Person succeeding to all or substantially all of the corporate trust business of the Collateral Agent, the Custodial Agent or the Securities Intermediary shall be the successor of the
Collateral Agent, the Custodial Agent or the Securities Intermediary, provided such Person shall be otherwise qualified and eligible under this Article 15 hereunder without the 

  
 119 

 
execution or filing of any paper with any party hereto or any further act on the part of any of the parties hereto except where an instrument of transfer or assignment is required by law
to effect such succession, anything herein to the contrary notwithstanding. 
 Section 15.06. Rights in Other Capacities. The
Collateral Agent, the Custodial Agent and the Securities Intermediary and their affiliates may (without having to account therefor to the Company) accept deposits from, lend money to, make their investments in and generally engage in any kind
of banking, trust or other business with the Company, the Purchase Contract Agent, any other Person interested herein and any Holder (and any of their respective subsidiaries or affiliates) as if it were not acting as the Collateral
Agent, the Custodial Agent or the Securities Intermediary, as the case may be, and the Collateral Agent, the Custodial Agent, the Securities Intermediary and their affiliates may accept fees and other consideration from the Company, the
Purchase Contract Agent and any Holder without having to account for the same to the Company; provided that each of the Collateral Agent, the Custodial Agent and the Securities Intermediary covenants and agrees with the Company
that it shall not accept, receive or permit there to be created in favor of itself and shall take no affirmative action to permit there to be created in favor of any other Person, any security interest, lien or other encumbrance of any kind
in or upon the Collateral other than the lien created by the Pledge. 
 Section 15.07.
Non-reliance on the Collateral Agent, Custodial Agent and Securities Intermediary. None of the Collateral Agent, the Custodial Agent and the Securities Intermediary shall be required to keep
itself informed as to the performance or observance by the Purchase Contract Agent or any Holder of this Agreement, the Units or any other document referred to or provided for herein or therein or to inspect the properties or books of the
Purchase Contract Agent or any Holder. None of the Collateral Agent, the Custodial Agent or the Securities Intermediary shall have any duty or responsibility to provide the Company with any credit or other information concerning the
affairs, financial condition or business of the Purchase Contract Agent or any Holder (or any of their respective affiliates) that may come into the possession of the Collateral Agent, the Custodial Agent or the Securities Intermediary or any
of their respective affiliates. 
 Section 15.08. Compensation And Indemnity. The Company agrees to: 

(a)    pay the Collateral Agent, the Custodial Agent and the Securities Intermediary from time to time such compensation
as shall be agreed in writing between the Company and the Collateral Agent, the Custodial Agent or the Securities Intermediary, as the case may be, for all services rendered by them hereunder; 

(b)    indemnify and hold harmless the Collateral Agent, the Custodial Agent, the Securities Intermediary and each of
their respective directors, officers, agents and employees (collectively, the “Pledge Indemnitees”), from and against 

  
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any and all claims (whether asserted by the Company, the Purchase Contract Agent or any other Person), liabilities, losses, and reasonable expenses (including reasonable fees and expenses
of counsel) (collectively, “Losses” and individually, a “Loss”) that may be imposed on, incurred by, or asserted against, the Pledge Indemnitees or any of them for following any instructions, acting upon any
notices or other directions (which shall include an instruction, notice or direction not to act) upon which any of the Collateral Agent, the Custodial Agent or the Securities Intermediary is entitled to conclusively rely pursuant to
the terms of this Agreement, provided that the Collateral Agent, the Custodial Agent or the Securities Intermediary has not acted with gross negligence or engaged in willful misconduct with respect to the specific Loss against which
indemnification is sought; and  
 (c)    in addition to and not in limitation of paragraph (b) of this
Section 15.08, indemnify and hold the Pledge Indemnitees and each of them harmless from and against any and all Losses that may be imposed on, incurred by or asserted against, the Pledge Indemnitees or any of them in connection
with or arising out of the Collateral Agent’s, the Custodial Agent’s or the Securities Intermediary’s acceptance or performance of its rights, powers and duties under this Agreement, including but not limited to the rights
and powers set forth in Section 15.09, provided the Collateral Agent, the Custodial Agent or the Securities Intermediary has not acted with gross negligence or engaged in willful misconduct with respect to the specific Loss against
which indemnification is sought. 
 The provisions of this Section 15.08 and Section 15.14 shall survive the resignation or
removal of the Collateral Agent, the Custodial Agent or the Securities Intermediary and the termination of this Agreement. 

Section 15.09. Failure to Act. In the event that, in the good faith belief of the Collateral Agent, the Custodial Agent or the
Securities Intermediary, an ambiguity in the provisions of this Agreement arises or any actual dispute between or conflicting claims by or among the parties hereto or any other Person with respect to any funds or property deposited
hereunder has been asserted in writing, then at its sole option, each of the Collateral Agent, the Custodial Agent and the Securities Intermediary shall be entitled, after prompt notice to the Company and the Purchase Contract Agent, to
refuse to comply with any and all claims, demands or instructions with respect to such property or funds so long as such dispute or conflict shall continue, and the Collateral Agent, the Custodial Agent and the Securities Intermediary,
as the case may be, shall not be or become liable in any way to any of the parties hereto for its failure or refusal to comply with such conflicting claims, demands or instructions. The Collateral Agent, the Custodial Agent and the
Securities Intermediary shall be entitled to refuse to act until either: 
 (a)    such conflicting or adverse
claims or demands shall have been finally determined by a court of competent jurisdiction or settled by agreement between the conflicting parties as evidenced in a writing satisfactory to the Collateral Agent, the Custodial Agent or the
Securities Intermediary; or 

  
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 (b)    the Collateral Agent, the Custodial Agent or the Securities
Intermediary shall have received security or an indemnity satisfactory to it sufficient to hold it harmless from and against any and all loss, liability or reasonable
out-of-pocket expense which it may without gross negligence or willful misconduct incur by reason of its acting. 

The Collateral Agent, the Custodial Agent and the Securities Intermediary may in addition elect to commence an interpleader action or seek
other judicial relief or orders as the Collateral Agent, the Custodial Agent or the Securities Intermediary may deem necessary. Notwithstanding anything contained herein to the contrary, none of the Collateral Agent, the Custodial
Agent or the Securities Intermediary shall be required to take any action that is in its opinion contrary to law or to the terms of this Agreement, or which would in its opinion subject it or any of its officers, employees or directors to
liability. 
 Section 15.10. Resignation of Collateral Agent, the Custodial Agent and the Securities Intermediary.
(a) Subject to the appointment and acceptance of a successor Collateral Agent, Custodial Agent or Securities Intermediary as provided below: 

(i)    the Collateral Agent, the Custodial Agent or the Securities Intermediary may resign at any time by
giving notice thereof to the Company and the Purchase Contract Agent as attorney-in-fact for the Holders; 

(ii)    the Collateral Agent, the Custodial Agent or the Securities Intermediary may be removed at any time
by the Company upon written notice thereof; and 
 (iii)    if the Collateral Agent, the Custodial Agent
or the Securities Intermediary fails to perform any of its material obligations hereunder in any material respect for a period of not less than 20 calendar days after receiving written notice of such failure by the Purchase Contract
Agent and such failure shall be continuing, the Collateral Agent, the Custodial Agent and the Securities Intermediary may be removed by the Purchase Contract Agent, acting at the direction of the Holders of a majority in number of the
Outstanding Units. 
 The Purchase Contract Agent shall promptly notify the Company upon the transmission of notice as contemplated by
clause (iii) of this Section 15.10(a) and any removal of the Collateral Agent, the Custodial Agent or the Securities Intermediary pursuant to clause (iii) of this Section 15.10(a). Upon any such resignation or removal, the Company
shall have the right to appoint a successor Collateral Agent, Custodial Agent or Securities Intermediary, as the case may be. 

  
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If no successor Collateral Agent, Custodial Agent or Securities Intermediary shall have been so appointed and shall have accepted such appointment within 45 calendar days after the
retiring Collateral Agent’s, Custodial Agent’s or Securities Intermediary’s giving of notice of resignation or the Company’s or the Purchase Contract Agent’s giving notice of such removal, then the retiring or removed
Collateral Agent, Custodial Agent or Securities Intermediary may petition any court of competent jurisdiction, at the expense of the Company, for the appointment of a successor Collateral Agent, Custodial Agent or Securities
Intermediary. The Collateral Agent, the Custodial Agent and the Securities Intermediary shall each be a bank or a national banking association which has an office (or an agency office) in New York City with a combined capital and surplus of
at least $50,000,000. Upon the acceptance of any appointment as Collateral Agent, Custodial Agent or Securities Intermediary hereunder by a successor Collateral Agent, Custodial Agent or Securities Intermediary, as the case may be,
such successor Collateral Agent, Custodial Agent or Securities Intermediary, as the case may be, shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Collateral Agent, Custodial Agent
or Securities Intermediary, as the case may be, and the retiring Collateral Agent, Custodial Agent or Securities Intermediary, as the case may be, shall take all appropriate action, subject to payment of any amounts then due and
payable to it hereunder, to transfer any money and property held by it hereunder (including the Collateral) to such successor. The retiring Collateral Agent, Custodial Agent or Securities Intermediary shall, upon such succession, be
discharged from its duties and obligations as Collateral Agent, Custodial Agent or Securities Intermediary hereunder. After any retiring Collateral Agent’s, Custodial Agent’s or Securities Intermediary’s resignation hereunder
as Collateral Agent, Custodial Agent or Securities Intermediary, the provisions of this Article 15 shall continue in effect for its benefit in respect of any actions taken or omitted to be taken by it while it was acting as the
Collateral Agent, the Custodial Agent or the Securities Intermediary. Any resignation or removal of the Collateral Agent, the Custodial Agent or the Securities Intermediary hereunder, at a time when such Person is also acting as the
Collateral Agent, the Custodial Agent or the Securities Intermediary, as the case may be, shall be deemed for all purposes of this Agreement as the simultaneous resignation or removal of the Collateral Agent, the Securities
Intermediary or the Custodial Agent, as the case may be. 
 Section 15.11. Right to Appoint Agent or Advisor. The Collateral
Agent shall have the right to appoint agents or advisors in connection with any of its duties hereunder, and the Collateral Agent shall not be liable for any action taken or omitted by, or in conclusive reliance upon the advice of, such
agents or advisors selected in good faith. 
 Section 15.12. Survival. The provisions of this Article 15 shall survive
termination of this Agreement and the resignation or removal of the Collateral Agent, the Custodial Agent or the Securities Intermediary.  

  
 123 

 Section 15.13. Exculpation. Anything contained in this Agreement to the contrary
notwithstanding, in no event shall the Collateral Agent, the Custodial Agent or the Securities Intermediary or their officers, directors, employees or agents be liable under this Agreement for indirect, special, punitive, or
consequential loss or damage of any kind whatsoever, including, but not limited to, lost profits, goodwill, reputation, business opportunity or anticipated saving, whether or not the likelihood of such loss or damage was known to the
Collateral Agent, the Custodial Agent or the Securities Intermediary, or any of them and regardless of the form of action. 

Section 15.14. Expenses, Etc. The Company agrees to reimburse the Collateral Agent, the Custodial Agent and the Securities
Intermediary for: 
 (a)    all
out-of-pocket costs and expenses of the Collateral Agent, the Custodial Agent and the Securities Intermediary (including, without limitation, the reasonable fees
and expenses of counsel to the Collateral Agent, the Custodial Agent and the Securities Intermediary), in connection with (i) the negotiation, preparation, execution and delivery or performance of this Agreement and (ii) any
modification, supplement or waiver of any of the terms of this Agreement; 
 (b)    all costs and expenses of the
Collateral Agent, the Custodial Agent and the Securities Intermediary (including, without limitation, reasonable fees and expenses of counsel) in connection with (i) any enforcement or proceedings resulting or incurred in connection with
causing any Holder to satisfy its obligations under the Purchase Contracts forming a part of the Units and (ii) the enforcement of this Section 15.14 and Section 15.08; 

(c)    all transfer, stamp, documentary or other similar taxes, assessments or charges (including any interest and
penalties thereon or in connection therewith) levied by any governmental or revenue authority in respect of this Agreement or any other document referred to herein and all costs, expenses, taxes, assessments and other charges incurred in
connection with any filing, registration, recording or perfection of any security interest contemplated hereby; and 

(d)    all reasonable fees and expenses of any agent or advisor appointed by the Collateral Agent. 

ARTICLE 16 

MISCELLANEOUS 

Section 16.01. Company to Furnish Purchase Contract Agent Names and Addresses of Holders. (a) The Company shall furnish or
cause to be furnished to the Purchase Contract Agent (i) semiannually, not later than February 1 and August 1 in each year, commencing February 1, 2018, a list, in such form as the Purchase Contract Agent may
reasonably require, of the names and addresses of the Holders of Units as of a date not more than 15 calendar days prior to the 

  
 124 

 
delivery thereof, and (ii) at such other times as the Purchase Contract Agent may request in writing, within 30 calendar days after the receipt by the Company of any such request, a
list of similar form and content as of a date not more than 15 calendar days prior to the time such list is furnished, excluding from any such list names and addresses previously received by the Purchase Contract Agent. 

Section 16.02. Preservation of Information; Communications to Holders. The Purchase Contract Agent shall preserve, in as current a
form as is reasonably practicable, the names and addresses of Holders contained in the most recent list furnished to the Purchase Contract Agent as provided in Section 16.01 and the names and addresses of Holders received by the Purchase
Contract Agent. The Purchase Contract Agent may dispose of any list furnished to it as provided in Section 16.01 upon receipt of a new list so furnished.  

Section 16.03. Defaults, Waiver. The Holders of a majority of the Outstanding Purchase Contracts voting together as one class may,
by vote or consent, on behalf of all of the Holders, waive any past default by the Company and its consequences, except a default: 

(a)    In the payment on any Purchase Contract, or 

(b)    In respect of a provision hereof which under Section 8.02 cannot be modified or amended without the consent of
the Holder of each Outstanding Purchase Contract affected. 
 Upon such waiver, any such default shall cease to exist, and any
default by the Company arising therefrom shall be deemed to have been cured, for every purpose of this Agreement, but no such waiver shall extend to any subsequent or other default or impair any right consequent thereon. 

Section 16.04. Purchase Contract Agent’s Knowledge of Defaults. The Purchase Contract Agent shall not be deemed
to have notice or be charged with knowledge of any Fundamental Change, Termination Event or any default hereunder unless a Responsible Officer of the Purchase Contract Agent has received written notice from the Company or any Holder of such
Fundamental Change, Termination Event or default at the Corporate Trust Office of the Purchase Contract Agent, and such notice references the Units and this Agreement and identifies such default. 

Section 16.05. Security Interest Absolute. All rights of the Collateral Agent and security interests hereunder, and all
obligations of the Holders from time to time hereunder pursuant to the Pledge, shall be absolute and unconditional irrespective of: 

(a)    any lack of validity or enforceability of any provision of the Purchase Contracts or the Units or any other
agreement or instrument relating thereto; 

  
 125 

 (b)    any change in the time, manner or place of payment of, or any other
term of, or any increase in the amount of, all or any of the obligations of Holders of the Units under the related Purchase Contracts, or any other amendment or waiver of any term of, or any consent to any departure from any
requirement of, this Agreement or any Purchase Contract or any other agreement or instrument relating thereto; or 

(c)    any other circumstance which might otherwise constitute a defense available to, or discharge of, a borrower, a
guarantor or a pledgor. 
 Section 16.06. Notice of Termination Event. Upon the occurrence of a Termination Event, the Company
shall deliver written notice to the Purchase Contract Agent, the Collateral Agent and the Securities Intermediary. 

Section 16.07. U.S.A. Patriot Act. The parties hereto acknowledge that in order to help the United States government fight the
funding of terrorism and money laundering activities, pursuant to Federal regulations that became effective on October 1, 2003 (Section 326 of the USA PATRIOT Act) all financial institutions are required to obtain, verify, record and update
information that identifies each person establishing a relationship or opening an account. The parties to this agreement agree that it will provide to the Purchase Contract Agent, the Collateral Agent, the Custodial Agent and the Securities
Intermediary such information as they may request, from time to time, in order for the Agents to satisfy the requirements of the USA PATRIOT Act, including but not limited to the name, address, tax identification number and other information that
will allow it to identify the individual or entity who is establishing the relationship or opening the account and may also ask for formation documents such as articles of incorporation or other identifying documents to be provided. 

[SIGNATURES ON THE FOLLOWING PAGES] 

  
 126 

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

					
	STANLEY BLACK & DECKER, INC.
		
	By:	 	 /s/ Michael A. Bartone

		 	Name:	 	Michael A. Bartone
		 	 Title:
	 	 Vice President, Corporate Tax,
 and
Treasurer

 Address for Notices: 
 Stanley
Black & Decker, Inc. 
 1000 Stanley Drive 
 New
Britain, Connecticut 06053 
 Attention: Treasurer and Corporate Secretary 

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

					
	 The Bank of New York Mellon Trust

Company, National Association, as
 Purchase Contract

Agent and as attorney-in-fact of the

Holders from time to time of the Units

					
		
	By:	 	 /s/ Lawrence M. Kusch

		 	Name:	 	Lawrence M. Kusch
		 	Title:	 	Vice President

 Address for Notices: 
 The Bank
of New York Mellon Trust Company, National Association 
 2 North LaSalle Street, Suite 700 

Chicago, Illinois 60602 
 Attention: Global Corporate Trust 

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

					
	 HSBC Bank USA, National

Association, as Collateral Agent,
 Custodial Agent and
Securities
 Intermediary

		
	By:	 	 /s/ Fernando Acebedo

		 	Name:	 	Fernando Acebedo
		 	Title:	 	Vice President

 Address for Notices: 
 HSBC Bank
USA, National Association 
 452 Fifth Avenue 
 New York, New
York 10018 
 Attention: Corporate Trust and Loan Agency 

 EXHIBIT A 

(FORM OF FACE OF CORPORATE UNITS CERTIFICATE) 

[For inclusion in Global Certificates only - THIS CERTIFICATE IS A GLOBAL CERTIFICATE WITHIN THE MEANING OF THE PURCHASE CONTRACT AND
PLEDGE AGREEMENT HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF CEDE & CO., AS NOMINEE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (THE “DEPOSITARY”), THE DEPOSITARY OR ANOTHER NOMINEE OF
THE DEPOSITARY. THIS CERTIFICATE IS EXCHANGEABLE FOR CERTIFICATES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE PURCHASE CONTRACT AND PLEDGE AGREEMENT AND
NO TRANSFER OF THIS CERTIFICATE (OTHER THAN A TRANSFER OF THIS CERTIFICATE AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY) MAY BE
REGISTERED EXCEPT IN LIMITED CIRCUMSTANCES.  
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITARY FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY (AND ANY
PAYMENT HEREON IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.] 

  
 A-1 

			
	No. R-	  	CUSIP No.
	Number of Corporate Units:	  	ISIN No.

 STANLEY BLACK & 

DECKER, INC. 
 Corporate Units 

This Corporate Units Certificate certifies that
                is the registered Holder of the number of Corporate Units set forth above [For inclusion in Global Certificates only - or such other number of Corporate
Units reflected in the Schedule of Increases or Decreases in Global Certificate attached hereto, which number, taken together with the number of all other Outstanding Corporate Units and the number of all Outstanding Treasury Units and Outstanding
Cash Settled Units, shall not exceed 7,500,000]. Each Corporate Unit consists of (i) an Applicable Ownership Interest in Convertible Preferred Stock or an Applicable Ownership Interest in the Treasury Portfolio, subject to the Pledge thereof by
such Holder pursuant to the Purchase Contract and Pledge Agreement and (ii) the rights and obligations of the Holder under one Purchase Contract with the Company. 

All capitalized terms used herein without definition herein and which are defined in the Purchase Contract and Pledge Agreement (as defined on
the reverse hereof) have the meaning set forth therein. 
 Pursuant to the Purchase Contract and Pledge Agreement, the Applicable Ownership
Interest in Convertible Preferred Stock or the Applicable Ownership Interest in the Treasury Portfolio, as the case may be, constituting part of each Corporate Unit evidenced hereby has been pledged to the Collateral Agent, for the benefit of the
Company, to secure the obligations of the Holder under the Purchase Contract comprising part of such Corporate Unit. 
 All payments, if
any, with respect to the Convertible Preferred Stock underlying the Pledged Applicable Ownership Interests in Convertible Preferred Stock or all payments with respect to the Applicable Ownership Interests in the Treasury Portfolio, as the case may
be, constituting part of the Corporate Units shall be paid on the dates and in the manner set forth in the Purchase Contract and Pledge Agreement. Dividends or distributions on the Convertible Preferred Stock underlying the Applicable Ownership
Interests in Convertible Preferred Stock or distributions on the Applicable Ownership Interests in the Treasury Portfolio, as the case may be, forming part of the Corporate Units evidenced hereby, which is payable on each Payment Date, shall,
subject to receipt thereof by the Purchase Contract Agent, be paid to the Person in whose name this Corporate Units Certificate (or a Predecessor Corporate Units Certificate) is registered at the close of business on the Record Date for such Payment
Date. 

  
 A-2 

 The Company shall pay, on each Payment Date, in respect of each Purchase Contract forming part of
a Corporate Unit evidenced hereby, an amount (the “Contract Adjustment Payments”) equal to 5.375% per year of the Stated Amount for the period from and including the immediately preceding Payment Date on which Contract Adjustment
Payments were paid (or if none, May 17, 2017) to but excluding such Payment Date. Such Contract Adjustment Payments shall be payable in cash, shares of Common Stock or a combination thereof, at the Company’s election, to the Person in
whose name this Corporate Units Certificate is registered at the close of business on the Record Date for such Payment Date. The Company may, at its option, defer such Contract Adjustment Payments as described in the Purchase Contract and Pledge
Agreement. The Contract Adjustment Payments are unsecured and will rank subordinate and junior in right of payment to all of the Company’s existing and future Indebtedness. 

Each Purchase Contract evidenced hereby obligates the Holder of this Corporate Units Certificate to purchase, and the Company to sell, on the
Purchase Contract Settlement Date at a Purchase Price equal to the Stated Amount, a number of newly issued shares of Common Stock of the Company, equal to the Settlement Rate, unless on or prior to the Purchase Contract Settlement Date there shall
have occurred a Termination Event, an Early Settlement or a Fundamental Change Early Settlement with respect to such Purchase Contract, all as provided in the Purchase Contract and Pledge Agreement. The Purchase Price for the shares of Common Stock
purchased pursuant to each Purchase Contract evidenced hereby, if not paid earlier, shall be paid on the Purchase Contract Settlement Date by application of payment received in the Final Remarketing of the shares of Convertible Preferred Stock
underlying the Pledged Applicable Ownership Interests in Convertible Preferred Stock equal to $1,000 per each such share thereof or the proceeds of the Pledged Applicable Ownership Interests in the Treasury Portfolio, as the case may be, pledged to
secure the obligations under such Purchase Contract of the Holder of the Corporate Units of which such Purchase Contract is a part. 

Dividends on the Convertible Preferred Stock or distributions on the Applicable Ownership Interest in the Treasury Portfolio, as the case may
be, if any, and the Contract Adjustment Payments paid in cash will be payable at the office of the Purchase Contract Agent in New York City, except that all payments with respect to Global Certificates will be made by wire transfer of immediately
available funds to the Depositary. If the book-entry system for the Corporate Units has been terminated, the Contract Adjustment Payments paid in cash will be payable, at the option of the Company, by check mailed to the address of the Person
entitled thereto at such Person’s address as it appears on the Security Register, or by wire transfer to the account designated by such Person by prior written notice to the Purchase Contract Agent, given at least ten calendar days prior to the
Payment Date. 
 Each Purchase Contract evidenced hereby obligates the holder to agree, for United States federal income tax purposes, to
(i) treat its acquisition of the 

  
 A-3 

 
Corporate Units as an acquisition of the Convertible Preferred Stock and Purchase Contract constituting each Corporate Unit, (ii) treat the Applicable Ownership Interests in Convertible
Preferred Stock as equity of the Company and (iii) treat itself as the owner of the applicable interests in the Collateral Account, including the Convertible Preferred Stock. 

Reference is hereby made to the further provisions set forth on the reverse hereof, which further provisions shall for all purposes have the
same effect as if set forth at this place. 
 Unless the certificate of authentication hereon has been executed by the Purchase Contract
Agent by manual signature, this Corporate Units Certificate shall not be entitled to any benefit under the Purchase Contract and Pledge Agreement or be valid or obligatory for any purpose. 

  
 A-4 

 IN WITNESS WHEREOF, the Company and the Holder specified above have caused this instrument to be
duly executed. 
  

			
	STANLEY BLACK & DECKER, INC.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	 HOLDER SPECIFIED ABOVE (as to obligations of such Holder under the Purchase
Contracts)

		
	By:	 	THE BANK OF NEW YORK
		 	TRUST COMPANY, NATIONAL ASSOCIATION, not individually but solely as attorney-in-fact of such Holder
		
	By:	 	  

	Name:	 	
	Title:	 	

 DATED:
                             

  
 A-5 

 CERTIFICATE OF AUTHENTICATION 

OF PURCHASE CONTRACT AGENT 
 This
is one of the Corporate Units Certificates referred to in the within mentioned Purchase Contract and Pledge Agreement. 
  

			
	 THE BANK OF NEW YORK MELLON TRUST COMPANY, NATIONAL ASSOCIATION, as Purchase Contract
Agent

		
	 By:
	 	  

		 	Authorized Signatory

 DATED:
                             

  
 A-6 

 (REVERSE OF CORPORATE UNITS CERTIFICATE) 

Each Purchase Contract evidenced hereby is governed by a Purchase Contract and Pledge Agreement, dated as of May 17, 2017 (as may be
supplemented from time to time, the “Purchase Contract and Pledge Agreement”), between the Company and The Bank of New York Mellon Trust Company, National Association, as Purchase Contract Agent (including its successors thereunder,
the “Purchase Contract Agent”), and HSBC Bank USA, National Association, as Collateral Agent, Custodial Agent and Securities Intermediary (including its successors thereunder, the “Collateral Agent”), to which
Purchase Contract and Pledge Agreement and supplemental agreements thereto reference is hereby made for a description of the respective rights, limitations of rights, obligations, duties and immunities thereunder of the Purchase Contract Agent, the
Collateral Agent, the Company, and the Holders and of the terms upon which the Corporate Units Certificates are, and are to be, executed and delivered. 

Each Purchase Contract evidenced hereby obligates the Holder of this Corporate Units Certificate to purchase, and the Company to sell, on the
Purchase Contract Settlement Date at a price equal to the Stated Amount, a number of shares of Common Stock equal to the Settlement Rate, unless an Early Settlement, a Fundamental Change Early Settlement or a Termination Event with respect to the
Units of which such Purchase Contract is a part shall have occurred. 
 No fractional shares of Common Stock will be issued upon settlement
of Purchase Contracts, as provided in Section 5.07 of the Purchase Contract and Pledge Agreement. 
 Each Purchase Contract evidenced
hereby that is settled through Early Settlement or Fundamental Change Early Settlement shall obligate the Holder of the related Corporate Units to purchase at the Purchase Price, and the Company to sell, a number of newly issued shares of Common
Stock equal to the applicable settlement rate. 
 In accordance with the terms of the Purchase Contract and Pledge Agreement, unless a
Termination Event shall have occurred, the Holder of this Corporate Units Certificate shall pay the Purchase Price for the shares of Common Stock purchased pursuant to each Purchase Contract evidenced hereby by effecting an Early Settlement or, if
applicable, a Fundamental Change Early Settlement or from the proceeds of the Applicable Ownership Interests in the Treasury Portfolio or the Final Remarketing of the Convertible Preferred Stock underlying the Pledged Applicable Ownership Interests
in Convertible Preferred Stock. 
 As provided in the Purchase Contract and Pledge Agreement, upon the occurrence of an Unsuccessful Final
Remarketing as of the Purchase Contract Settlement Date, each Holder of any Pledged Applicable Ownership Interests in 

  
 A-7 

 
Convertible Preferred Stock shall be deemed to have automatically delivered the related Convertible Preferred Stock to the Company in satisfaction of such Holder’s obligations under the
related Purchase Contracts, as described in Section 5.02(b)(vii) of the Purchase Contract and Pledge Agreement, unless such Holder elects otherwise. 

The Company shall not be obligated to issue any shares of Common Stock in respect of a Purchase Contract or deliver any certificates therefor
to the Holder unless it shall have received payment of the aggregate Purchase Price for the shares of Common Stock to be purchased thereunder in the manner set forth in the Purchase Contract and Pledge Agreement. 

Each Purchase Contract evidenced hereby and all obligations and rights of the Company and the Holder thereunder, including, without
limitation, the rights of the Holders to receive and the obligation of the Company to pay any Contract Adjustment Payments, shall terminate if a Termination Event shall occur. Upon the occurrence of a Termination Event, the Company shall give
written notice to the Purchase Contract Agent and to the Holders, at their addresses as they appear in the Security Register. Upon and after the occurrence of a Termination Event, the Collateral Agent shall release the Convertible Preferred Stock
underlying the Pledged Applicable Ownership Interests in Convertible Preferred Stock or the Applicable Ownership Interests in the Treasury Portfolio forming a part of each Corporate Unit from the Pledge. A Corporate Unit shall thereafter represent
the right to receive the Convertible Preferred Stock underlying the Applicable Ownership Interest in the Convertible Preferred Stock or the Applicable Ownership Interests in the Treasury Portfolio in accordance with the terms of the Purchase
Contract and Pledge Agreement. 
 Under the terms of the Purchase Contract and Pledge Agreement, the Purchase Contract Agent will be
entitled to exercise the voting and any other consensual rights pertaining to the Convertible Preferred Stock underlying the Pledged Applicable Ownership Interests in Convertible Preferred Stock, but only to the extent instructed in writing by the
Holders. Upon receipt of notice of any meeting at which holders of Convertible Preferred Stock are entitled to vote or upon any solicitation of consents, waivers or proxies of holders of Convertible Preferred Stock, the Purchase Contract Agent
shall, as soon as practicable thereafter, mail, first class, postage pre-paid, to the Holders of Corporate Units the notice required by the Purchase Contract and Pledge Agreement. 

The Corporate Units Certificates are issuable only in registered form and only in denominations of a single Corporate Unit and any integral
multiple thereof. The transfer of any Corporate Units Certificate will be registered and Corporate Units Certificates may be exchanged as provided in the Purchase Contract and Pledge Agreement. A Holder who elects to substitute Treasury Securities
or Cash for the Convertible Preferred Stock thereby creating Treasury Units or Cash Settled Units, shall be responsible for any fees or expenses payable in connection therewith. Except as provided in the Purchase Contract and Pledge Agreement,

  
 A-8 

 
such Corporate Unit shall not be separable into its constituent parts, and the rights and obligations of the Holder of such Corporate Unit in respect of the Convertible Preferred Stock and
Purchase Contract constituting such Corporate Unit may be transferred and exchanged only as a Corporate Unit. 
 Subject to, and in
compliance with, the conditions and terms set forth in the Purchase Contract and Pledge Agreement, the Holder of Corporate Units may effect a Collateral Substitution. From and after such Collateral Substitution, each Unit for which a Treasury
Security secures the Holder’s obligations under the Purchase Contract shall be referred to as a “Treasury Unit”, and each Unit for which Pledged Cash secures the Holder’s obligations under the Purchase Contract shall be
referred to as a “Cash Settled Units”. A Holder may make such Collateral Substitution only in integral multiples of 10 Corporate Units for 10 Treasury Units or 10 Cash Settled Units, as the case may be. 

Subject to and upon compliance with the provisions of, and certain exceptions described in, the Purchase Contract and Pledge Agreement, at the
option of the Holder thereof, Purchase Contracts underlying Units may be settled early by effecting an Early Settlement or Fundamental Change Early Settlement as provided in the Purchase Contract and Pledge Agreement. 

Upon registration of transfer of this Corporate Units Certificate, the transferee shall be bound (without the necessity of any other action on
the part of such transferee, except as may be required by the Purchase Contract Agent pursuant to the Purchase Contract and Pledge Agreement), under the terms of the Purchase Contract and Pledge Agreement and the Purchase Contracts evidenced hereby
and the transferor shall be released from the obligations under the Purchase Contracts evidenced by this Corporate Units Certificate. The Company covenants and agrees, and the Holder, by its acceptance hereof, likewise covenants and agrees, to be
bound by the provisions of this paragraph. 
 The Holder of this Corporate Units Certificate, by its acceptance hereof, authorizes the
Purchase Contract Agent to enter into and perform the related Purchase Contracts forming part of the Corporate Units evidenced hereby on its behalf as its
attorney-in-fact, expressly withholds any consent to the assumption (i.e., affirmance) of the Purchase Contracts by the Company or its trustee in the event that the
Company becomes the subject of a case under the Bankruptcy Code, agrees to be bound by the terms and provisions thereof, covenants and agrees to perform its obligations under such Purchase Contracts, consents to the provisions of the Purchase
Contract and Pledge Agreement, authorizes the Purchase Contract Agent to enter into and perform the Purchase Contract and Pledge Agreement on its behalf as its
attorney-in-fact, and consents to the Pledge of the Applicable Ownership Interests in Convertible Preferred Stock and the underlying Convertible Preferred Stock or the
Applicable Ownership Interests in the Treasury Portfolio, as the case may be, underlying this Corporate Units Certificate pursuant to the Purchase Contract and Pledge Agreement. The Holder further covenants and agrees that, to the extent and in the
manner provided in the Purchase Contract 

  
 A-9 

 
and Pledge Agreement, but subject to the terms thereof, any payments with respect the Convertible Preferred Stock underlying the Pledged Applicable Ownership Interests in Convertible Preferred
Stock or the Proceeds of the Applicable Ownership Interests in the Treasury Portfolio, as the case may be, on the Purchase Contract Settlement Date equal to the aggregate Purchase Price for the related Purchase Contracts shall be paid by the
Collateral Agent to the Company in satisfaction of such Holder’s obligations under the related Purchase Contracts and such Holder shall acquire no right, title or interest in such payments. 

Subject to certain exceptions, the provisions of the Purchase Contract and Pledge Agreement may be amended with the consent of the Holders of
a majority of the Purchase Contracts. 
 The Purchase Contracts shall be governed by, and construed in accordance with, the laws of the
State of New York, without giving effect to the conflicts of law provisions thereof to the extent a different law would govern as a result. 

The Purchase Contracts shall not, prior to the settlement thereof, entitle the Holder to any of the rights of a holder of shares of Common
Stock or Common Stock. 
 Prior to due presentment of this Certificate for registration of transfer, the Company, the Purchase Contract
Agent and its Affiliates and any agent of the Company or the Purchase Contract Agent may treat the Person in whose name this Corporate Units Certificate is registered as the owner of the Corporate Units evidenced hereby for the purpose of receiving
payments of dividends payable on the Convertible Preferred Stock underlying the Applicable Ownership Interests in Convertible Preferred Stock, if any, receiving payments of Contract Adjustment Payments (subject to any applicable record date) and
payments of Contract Adjustment Payments (subject to any applicable record date), performance of the Purchase Contracts and for all other purposes whatsoever, whether or not any payments in respect thereof be overdue and notwithstanding any notice
to the contrary, and neither the Company, the Purchase Contract Agent nor any such agent shall be affected by notice to the contrary. 
 A
copy of the Purchase Contract and Pledge Agreement is available for inspection at the offices of the Purchase Contract Agent during regular business hours. 

  
 A-10 

 ABBREVIATIONS 

The following abbreviations, when used in the inscription on the face of this instrument, shall be construed as though they were written out
in full according to applicable laws or regulations: 
  

			
	TEN COM:	  	as tenants in common

  

							
	UNIF GIFT MN ACT:	 	  
	 	Custodian	 	  

	(cust)	 	(minor)	 		 	

 Under Uniform Gifts to Minors Act of 

 

			
	TENANT:	  	as tenants by the entireties
		
	JT TEN:	  	as joint tenants with right of survivorship and not as tenants in common

 Additional abbreviations may also be used though not in the above list. 

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

	
	  

	(Please insert Social Security or Taxpayer I.D. or other Identifying Number of Assignee)
	
	  

	 (Please Print or Type Name and Address Including Postal Zip Code of Assignee)

 the within Corporate Units Certificates and all rights thereunder, hereby irrevocably constituting and appointing attorney, to
transfer said Corporate Units Certificates on the books of Stanley Black & Decker, Inc., with full power of substitution in the premises 
  

			
	Dated:                                 	  	Signature                         
		  	 NOTICE: The signature to this assignment must correspond with the name as it appears upon the face

of the within Corporate Units Certificates in every particular, without alteration or enlargement or

any change whatsoever.

 Signature Guarantee:
                                         
                    

  
 A-11 

 SETTLEMENT INSTRUCTIONS 

The undersigned Holder directs that a certificate for shares of Common Stock deliverable upon settlement on or after the Purchase Contract
Settlement Date of the Purchase Contracts underlying the number of Corporate Units evidenced by this Corporate Units Certificate be registered in the name of, and delivered to the undersigned at the address indicated below unless a different name
and address have been indicated below. If shares are to be registered in the name of a Person other than the undersigned, the undersigned will pay any transfer tax payable incident thereto. 

 

					
	Dated:	 		  	(if assigned to another person)
			
	If shares are to be registered in the name of and delivered to a Person other than the Holder, please (i) print such Person’s name and address and (ii) provide a guarantee of your signature:	 		  	 REGISTERED HOLDER
  

Please print name and address of registered Holder:

			
	  
	 		  	  

	Name	 		  	Name
			
	  
	 		  	  

	Address	 		  	Address
			
	  
	 		  	  

	  
	 		  	  

	  
	 		  	  

			
	Social Security or other Taxpayer Identification Number, if any	 		  	
			
	  
	 		  	
	Signature	 		  	

 Signature Guarantee:
                                         
                                         
       

  
 A-12 

 ELECTION TO SETTLE EARLY/FUNDAMENTAL CHANGE EARLY SETTLEMENT 

The undersigned Holder of this Corporate Units Certificate hereby irrevocably exercises the option to effect [Early Settlement] [Fundamental
Change Early Settlement] in accordance with the terms of the Purchase Contract and Pledge Agreement with respect to the Purchase Contracts underlying the number of Corporate Units evidenced by this Corporate Units Certificate specified below. The
option to effect [Early Settlement] [Fundamental Change Early Settlement] may be exercised only with respect to Purchase Contracts underlying Corporate Units in multiples of 10 Corporate Units or an integral multiple thereof. The undersigned Holder
directs that a certificate for shares of Common Stock deliverable upon such [Early Settlement] [Fundamental Change Early Settlement] be registered in the name of, and delivered, together with any Corporate Units Certificate representing any
Corporate Units evidenced hereby as to which [Early Settlement] [Fundamental Change Early Settlement] of the related Purchase Contracts is not effected, to the undersigned at the address indicated below unless a different name and address have been
indicated below. Shares of Convertible Preferred Stock underlying Pledged Applicable Ownership Interests in Convertible Preferred Stock or the Applicable Ownership Interests in the Treasury Portfolio, as the case may be, deliverable upon such [Early
Settlement] [Fundamental Change Early Settlement] will be transferred in accordance with the transfer instructions set forth below. If shares are to be registered in the name of a Person other than the undersigned, the undersigned will pay any
transfer tax payable incident thereto. 
 Dated:
                                        
         Signature                               

Signature Guarantee:
                                         
                                        

Number of Units evidenced hereby as to which [Early Settlement] [Fundamental Change Early Settlement] of the related Purchase Contracts is
being elected: 
  

					
	If shares of Common Stock or Corporate Units Certificates are to be registered in the name of and delivered to and shares of Pledged Convertible Preferred Stock are to be transferred to a Person other than the Holder, please print
such Person’s name and address:	 		  	 REGISTERED HOLDER
  

Please print name and address of registered Holder:

			
	  
	 		  	  

	Name	 		  	Name

  
 A-13 

					
	  
	  		  	  

	Address	  		  	Address
			
	  
	  		  	  

	  
	  		  	  

	  
	  		  	  

			
	Social Security or other Taxpayer Identification Number, if any	  		  	
	  
	  		  	

 Transfer Instructions for Convertible Preferred Stock underlying Pledged Applicable Ownership Interests in
Convertible Preferred Stock or the Applicable Ownership Interests in the Treasury Portfolio, as the case may be, transferable upon [Early Settlement] [Fundamental Change Early Settlement]: 

  
 A-14 

 [TO BE ATTACHED TO GLOBAL CERTIFICATES] 

SCHEDULE OF INCREASES OR DECREASES IN 

GLOBAL CERTIFICATE 
 The
initial number of Corporate Units evidenced by this Global Certificate is                     . The following increases or decreases in this Global
Certificate have been made: 
  

									
	 Date
	 	 Amount of increase in
number of
Corporate
 Units evidenced by the

Global Certificate
	 	
Amount of decrease in
number of Corporate

Units evidenced by the

Global Certificate
	  	
Number of Corporate
Units evidenced by

this Global Certificate

following such

decrease or increase
	  	 Signature of

authorized signatory

of Purchase Contract

Agent

		 		 		  		  	
		 		 		  		  	
		 		 		  		  	
		 		 		  		  	

  
 A-15 

 EXHIBIT B 

(FORM OF FACE OF TREASURY UNITS CERTIFICATE) 

[For inclusion in Global Certificate only - THIS CERTIFICATE IS A GLOBAL CERTIFICATE WITHIN THE MEANING OF THE PURCHASE CONTRACT AND PLEDGE
AGREEMENT HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF CEDE & CO., AS NOMINEE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (THE “DEPOSITARY”), THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY. THIS
CERTIFICATE IS EXCHANGEABLE FOR CERTIFICATES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE PURCHASE CONTRACT AND PLEDGE AGREEMENT AND NO TRANSFER OF THIS CERTIFICATE
(OTHER THAN A TRANSFER OF THIS CERTIFICATE AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY) MAY BE REGISTERED EXCEPT IN LIMITED CIRCUMSTANCES. 

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND
ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY (AND ANY PAYMENT HEREON IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED
BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.] 

  
 B-1 

			
	No. TR–	 	CUSIP No.
	Number of Treasury Units:	 	ISIN No.

 STANLEY BLACK & DECKER, INC. 

Treasury Units 
 This Treasury
Units Certificate certifies that                  is the registered Holder of the number of Treasury Units set forth above [For inclusion in Global Certificates only -
or such other number of Treasury Units reflected in the Schedule of Increases or Decreases in Global Certificate attached hereto, which number, taken together with the number of all other Outstanding Treasury Units and the number of all Outstanding
Corporate Units and Outstanding Cash Settled Units, shall not exceed 7,500,000]. Each Treasury Unit consists of (i) an undivided beneficial ownership interest in a Treasury Security, subject to the Pledge of such Treasury Security by such
Holder pursuant to the Purchase Contract and Pledge Agreement, and (ii) the rights and obligations of the Holder under one Purchase Contract with the Company. 

All capitalized terms used herein that are defined in the Purchase Contract and Pledge Agreement (as defined on the reverse hereof) have the
meaning set forth therein. 
 Pursuant to the Purchase Contract and Pledge Agreement, the Treasury Security underlying each Treasury Unit
evidenced hereby has been pledged to the Collateral Agent, for the benefit of the Company, to secure the obligations of the Holder under the Purchase Contract comprising part of such Treasury Unit. 

The Company shall pay, on each Payment Date, in respect of each Purchase Contract forming part of a Treasury Unit evidenced hereby, an amount
(the “Contract Adjustment Payments”) equal to 5.375% per year of the Stated Amount for the period from and including the immediately preceding Payment Date on which Contract Adjustment Payments were paid (or if none, May 17,
2017) to but excluding such Payment Date. Such Contract Adjustment Payments shall be payable in cash, shares of Common Stock or a combination thereof, at the Company’s election, to the Person in whose name this Treasury Units Certificate is
registered at the close of business on the Record Date for such Payment Date. The Company may, at its option, defer such Contract Adjustment Payments as described in the Purchase Contract and Pledge Agreement. The Contract Adjustment Payments are
unsecured and will rank subordinate and junior in right of payment to all of the Company’s existing and future Indebtedness. 
 Each
Purchase Contract evidenced hereby obligates the Holder of this Treasury Units Certificate to purchase, and the Company to sell, on the Purchase Contract Settlement Date at a Purchase Price equal to the Stated Amount, a number of newly issued shares
of Common Stock of the Company, equal to the Settlement Rate, unless prior to or on the Purchase Contract Settlement Date there shall have occurred a Termination Event, an Early Settlement or a Fundamental

  
 B-2 

 
Change Early Settlement with respect to such Purchase Contract, all as provided in the Purchase Contract and Pledge Agreement. The Purchase Price for the shares of Common Stock purchased pursuant
to each Purchase Contract evidenced hereby, if not paid earlier, shall be paid on the Purchase Contract Settlement Date by application of the proceeds from the Treasury Security pledged to secure the obligations under such Purchase Contract of the
Holder of the Treasury Units of which such Purchase Contract is a part. 
 Contract Adjustment Payments paid in cash will be payable at the
office of the Purchase Contract Agent in New York City, except that Contract Adjustment Payments with respect to Global Certificates will be made by wire transfer of immediately available funds to the Depositary. If the book-entry system for the
Corporate Units has been terminated, the Contract Adjustment Payments paid in cash will be payable, at the option of the Company, by check mailed to the address of the Person entitled thereto at such Person’s address as it appears on the
Security Register, or by wire transfer to the account designated by such Person by prior written notice to the Purchase Contract Agent, given at least ten calendar days prior to the Payment Date. 

Each Purchase Contract evidenced hereby obligates the holder to agree, for United States federal income tax purposes, to (i) treat its
acquisition of the Treasury Units as an acquisition of the Treasury Security and Purchase Contracts constituting the Treasury Units and (ii) treat itself as the owner of the applicable Treasury Security. 

Reference is hereby made to the further provisions set forth on the reverse hereof, which further provisions shall for all purposes have the
same effect as if set forth at this place. 
 Unless the certificate of authentication hereon has been executed by the Purchase Contract
Agent by manual signature, this Treasury Units Certificate shall not be entitled to any benefit under Purchase Contract and Pledge Agreement or be valid or obligatory for any purpose. 

  
 B-3 

 IN WITNESS WHEREOF, the Company and the Holder specified above have caused this instrument to be
duly executed. 
  

			
	STANLEY BLACK & DECKER, INC.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	 HOLDER SPECIFIED ABOVE (as to obligations of such Holder under the Purchase
Contracts)

		
	By:	 	THE BANK OF NEW YORK
		 	TRUST COMPANY, NATIONAL ASSOCIATION, not individually but solely as attorney-in-fact of such Holder
		
	By:	 	  

	Name:	 	
	Title:	 	

 DATED:
                                     

  
 B-4 

 CERTIFICATE OF AUTHENTICATION OF 

PURCHASE CONTRACT AGENT 

This is one of the Treasury Units referred to in the within mentioned Purchase Contract and Pledge Agreement. 

 

			
	 THE BANK OF NEW YORK MELLON TRUST COMPANY, NATIONAL ASSOCIATION, as Purchase Contract
Agent

		
	By:	 	  

		 	Authorized Signatory

 DATED:
                                 

  
 B-5 

 (REVERSE OF TREASURY UNITS CERTIFICATE) 

Each Purchase Contract evidenced hereby is governed by a Purchase Contract and Pledge Agreement, dated as of May 17, 2017 (as may be
supplemented from time to time, the “Purchase Contract and Pledge Agreement”) between the Company and The Bank of New York Mellon Trust Company, National Association, as Purchase Contract Agent (including its successors thereunder,
herein called the “Purchase Contract Agent”), and HSBC Bank USA, National Association, as Collateral Agent, Custodial Agent and Securities Intermediary (including its successors thereunder, the “Collateral Agent”),
to which Purchase Contract and Pledge Agreement and supplemental agreements thereto reference is hereby made for a description of the respective rights, limitations of rights, obligations, duties and immunities thereunder of the Purchase Contract
Agent, the Collateral Agent, the Company and the Holders and of the terms upon which the Treasury Units Certificates are, and are to be, executed and delivered. 

Each Purchase Contract evidenced hereby obligates the Holder of this Treasury Units Certificate to purchase, and the Company to sell, on the
Purchase Contract Settlement Date at a price equal to the Stated Amount, a number of newly issued shares of Common Stock equal to the Settlement Rate, unless an Early Settlement, a Fundamental Change Early Settlement or a Termination Event with
respect to the Unit of which such Purchase Contract is a part shall have occurred. 
 No fractional shares of Common Stock will be issued
upon settlement of Purchase Contracts, as provided in Section 5.07 of the Purchase Contract and Pledge Agreement. 
 Each Purchase
Contract evidenced hereby that is settled through Early Settlement or Fundamental Change Early Settlement shall obligate the Holder of the related Treasury Units to purchase at the Purchase Price and the Company to sell, a number of newly issued
shares of Common Stock equal to the applicable settlement rate. 
 In accordance with the terms of the Purchase Contract and Pledge
Agreement, the Holder of this Treasury Units Certificate shall pay the Purchase Price for the shares of the Common Stock to be purchased pursuant to each Purchase Contract evidenced hereby either by effecting an Early Settlement or, if applicable, a
Fundamental Change Early Settlement of each such Purchase Contract or by applying the proceeds of the Treasury Security underlying such Holder’s Treasury Unit equal to the Purchase Price for such Purchase Contract to the purchase of the Common
Stock. 
 The Company shall not be obligated to issue any shares of Common Stock in respect of a Purchase Contract or deliver any
certificates therefor to the Holder unless it shall have received payment of the aggregate Purchase Price for the shares of Common Stock to be purchased thereunder in the manner set forth in the Purchase Contract and Pledge Agreement. 

  
 B-6 

 Each Purchase Contract evidenced hereby and all obligations and rights of the Company and the
Holder thereunder, shall terminate if a Termination Event shall occur. Upon the occurrence of a Termination Event, the Company shall give written notice to the Purchase Contract Agent and the Holders, at their addresses as they appear in the
Security Register. Upon and after the occurrence of a Termination Event, the Collateral Agent shall release the Treasury Security underlying each Treasury Unit from the Pledge. A Treasury Unit shall thereafter represent the right to receive the
Treasury Security underlying such Treasury Unit, in accordance with the terms of the Purchase Contract and Pledge Agreement. 
 The Treasury
Units Certificates are issuable only in registered form and only in denominations of a single Treasury Unit and any integral multiple thereof. The transfer of any Treasury Units Certificate will be registered and Treasury Units Certificates may be
exchanged as provided in the Purchase Contract and Pledge Agreement. A Holder who elects to substitute Convertible Preferred Stock for the Treasury Security, thereby recreating Corporate Units, shall be responsible for any fees or expenses payable
in connection therewith. Except as provided in the Purchase Contract and Pledge Agreement, such Treasury Unit shall not be separable into its constituent parts, and the rights and obligations of the Holder of such Treasury Unit in respect of the
Treasury Security and the Purchase Contract constituting such Treasury Unit may be transferred and exchanged only as a Treasury Unit. 

Subject to, and in compliance with, the conditions and terms set forth in the Purchase Contract and Pledge Agreement, the Holder of Treasury
Units may effect a Collateral Substitution. From and after such substitution, each Unit for which shares of Pledged Convertible Preferred Stock secure the Holder’s obligations under the Purchase Contract shall be referred to as a
“Corporate Unit”. A Holder may make such Collateral Substitution only in integral multiples of 10 Treasury Units for 10 Corporate Units. 

Subject to and upon compliance with the provisions of the Purchase Contract and Pledge Agreement, at the option of the Holder thereof,
Purchase Contracts underlying Units may be settled early by effecting an Early Settlement or a Fundamental Change Early Settlement as provided in the Purchase Contract and Pledge Agreement. 

Upon registration of transfer of this Treasury Units Certificate, the transferee shall be bound (without the necessity of any other action on
the part of such transferee, except as may be required by the Purchase Contract Agent pursuant to the Purchase Contract and Pledge Agreement), under the terms of the Purchase Contract and Pledge Agreement and the Purchase Contracts evidenced hereby
and the transferor shall be released from the obligations under the Purchase Contracts evidenced by this Treasury Units Certificate. The Company covenants and agrees, and the Holder, by its acceptance hereof, likewise covenants and agrees, to be
bound by the provisions of this paragraph. 

  
 B-7 

 The Holder of this Treasury Units Certificate, by its acceptance hereof, authorizes the Purchase
Contract Agent to enter into and perform the related Purchase Contracts forming part of the Treasury Units evidenced hereby on its behalf as its attorney-in-fact,
expressly withholds any consent to the assumption (i.e., affirmance) of the Purchase Contracts by the Company or its trustee in the event that the Company becomes the subject of a case under the Bankruptcy Code, agrees to be bound by the terms and
provisions thereof, covenants and agrees to perform its obligations under such Purchase Contracts, consents to the provisions of the Purchase Contract and Pledge Agreement, authorizes the Purchase Contract Agent to enter into and perform the
Purchase Contract and Pledge Agreement on its behalf as its attorney-in-fact, and consents to the Pledge of the Treasury Security underlying this Treasury Units
Certificate pursuant to the Purchase Contract and Pledge Agreement. The Holder further covenants and agrees, that, to the extent and in the manner provided in the Purchase Contract and Pledge Agreement, but subject to the terms thereof, payments in
respect of the Treasury Security on the Purchase Contract Settlement Date equal to the aggregate Purchase Price for the related Purchase Contracts shall be paid by the Collateral Agent to the Company in satisfaction of such Holder’s obligations
under such Purchase Contracts and such Holder shall acquire no right, title or interest in such payments. 
 Subject to certain exceptions,
the provisions of the Purchase Contract and Pledge Agreement may be amended with the consent of the Holders of a majority of the Purchase Contracts. 

The Purchase Contracts shall be governed by, and construed in accordance with, the laws of the State of New York, without giving effect to the
conflicts of law provisions thereof to the extent a different law would govern as a result. 
 The Purchase Contracts shall not, prior to
the settlement thereof, entitle the Holder to any of the rights of a holder of shares of Common Stock or Common Stock. 
 Prior to due
presentment of this Certificate for registration of transfer, the Company, the Purchase Contract Agent and its Affiliates and any agent of the Company or the Purchase Contract Agent may treat the Person in whose name this Treasury Units Certificate
is registered as the owner of the Treasury Units evidenced hereby for the purpose of receiving payments of Contract Adjustment Payments (subject to any applicable record date), performance of the Purchase Contracts and for all other purposes
whatsoever, whether or not any payments in respect thereof be overdue and notwithstanding any notice to the contrary, and neither the Company, the Purchase Contract Agent nor any such agent shall be affected by notice to the contrary. 

  
 B-8 

 A copy of the Purchase Contract and Pledge Agreement is available for inspection at the offices
of the Purchase Contract Agent during regular business hours. 

  
 B-9 

 ABBREVIATIONS 

The following abbreviations, when used in the inscription on the face of this instrument, shall be construed as though they were written out
in full according to applicable laws or regulations: 
  

			
	 TEN COM:    
	  	 as tenants in common

 

							
	 UNIF GIFT MN ACT:
	 	  
	 	Custodian	 	  

	 (cust)
	 	(minor)	 		 	

  

			
	Under Uniform Gifts to Minors Act of

  

			
	 TENANT:
	  	 as tenants by the entireties

		
	 JT TEN:
	  	 as joint tenants with right of survivorship and not as tenants in
common

 Additional abbreviations may also be used though not in the above list. 

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

 
 (Please insert Social Security or Taxpayer I.D. or
other Identifying Number of Assignee) 
  
  

(Please Print or Type Name and Address Including Postal Zip Code of Assignee) 

the within Treasury Units Certificates and all rights thereunder, hereby irrevocably constituting and appointing attorney, to transfer said Treasury Units
Certificates on the books of Stanley Black & Decker, Inc., with full power of substitution in the premises 
  

			
	 Dated:
                        
	  	
Signature                 
             

		  	NOTICE: The signature to this assignment must correspond with the name as it appears upon the face of the within Treasury Units Certificates in every particular, without alteration or enlargement or any change
whatsoever.

 Signature Guarantee:
                                         
                                

  
 B-10 

 SETTLEMENT INSTRUCTIONS 

The undersigned Holder directs that a certificate for shares of Common Stock deliverable upon settlement on or after the Purchase Contract
Settlement Date of the Purchase Contracts underlying the number of Treasury Units evidenced by this Treasury Units Certificate be registered in the name of, and delivered, together with a check in payment for any fractional share, to the undersigned
at the address indicated below unless a different name and address have been indicated below. If shares are to be registered in the name of a Person other than the undersigned, the undersigned will pay any transfer tax payable incident thereto. 

 

					
	Dated:	  		  	(if assigned to another person)
			
	If shares are to be registered in the name of and delivered to a Person other than the Holder, please (i) print such Person’s name and address and (ii) provide a guarantee of your signature:	  		  	 REGISTERED HOLDER
  

Please print name and address of registered Holder:

			
	  
	  		  	  

	Name	  		  	Name
	  
	  		  	  

	Address	  		  	Address
	  
	  		  	  

	  
	  		  	  

	  
	  		  	  

			
	Social Security or other Taxpayer Identification Number, if any	  		  	
	  
	  		  	
	Signature	  		  	

 Signature Guarantee:
                                         
                                    

  
 B-11 

 ELECTION TO SETTLE EARLY/FUNDAMENTAL CHANGE EARLY SETTLEMENT 

The undersigned Holder of this Treasury Units Certificate hereby irrevocably exercises the option to effect [Early Settlement] [Fundamental
Change Early Settlement] in accordance with the terms of the Purchase Contract and Pledge Agreement with respect to the Purchase Contracts underlying the number of Treasury Units evidenced by this Treasury Units Certificate specified below. The
option to effect [Early Settlement] [Fundamental Change Early Settlement] may be exercised only with respect to Purchase Contracts underlying Treasury Units in multiples of 10 Treasury Units or an integral multiple thereof. The undersigned Holder
directs that a certificate for shares of Common Stock deliverable upon such [Early Settlement] [Fundamental Change Early Settlement] be registered in the name of, and delivered, together with any Treasury Units Certificate representing any Treasury
Units evidenced hereby as to which [Early Settlement] [Fundamental Change Early Settlement] of the related Purchase Contracts is not effected, to the undersigned at the address indicated below unless a different name and address have been indicated
below. Proceeds of the relevant Treasury Security deliverable upon such [Early Settlement] [Fundamental Change Early Settlement] will be transferred in accordance with the transfer instructions set forth below. If shares are to be registered in the
name of a Person other than the undersigned, the undersigned will pay any transfer tax payable incident thereto. 

Dated:                         
                    
Signature                                      

Signature Guarantee:
                                         
                                         
   
 Number of Units evidenced hereby as to which [Early Settlement] [Fundamental Change Early Settlement] of the related
Purchase Contracts is being elected: 
  

					
	If shares of Common Stock or Treasury Units Certificates are to be registered in the name of and delivered to and Proceeds of the relevant Treasury Security are to be transferred to a Person other than the Holder, please print such
Person’s name and address:	  		  	 REGISTERED HOLDER
  

Please print name and address of registered Holder:

			
	  
	  		  	  

	Name	  		  	Name
	  
	  		  	  

	Address	  		  	Address

  
 B-12 

					
	  
	  		  	  

	  
	  		  	  

	  
	  		  	  

			
	Social Security or other Taxpayer Identification Number, if any	  		  	
			
	  
	  		  	

 REGISTERED HOLDER 

Transfer Instructions for Proceeds of the applicable Treasury Security Transferable upon [Early Settlement] [Fundamental Change Early
Settlement]: 

  
 B-13 

 [TO BE ATTACHED TO GLOBAL CERTIFICATES] 

SCHEDULE OF INCREASES OR DECREASES IN 

GLOBAL CERTIFICATE 
 The
initial number of Treasury Units evidenced by this Global Certificate is                     . The following increases or decreases in this Global
Certificate have been made: 
  

									
	 Date
	 	 Amount of increase in
number of
Treasury
 Units evidenced by the
Global Certificate
	 	 Amount of decrease in
number of
Treasury
 Units evidenced by the

Global Certificate
	  	 Number of Treasury
Units evidenced by

this Global Certificate
following such

decrease or increase
	  	 Signature of

authorized signatory
 of
Purchase Contract
 Agent

		 		 		  		  	
		 		 		  		  	
		 		 		  		  	
		 		 		  		  	

  
 B-14 

 EXHIBIT C 

(FORM OF FACE OF CASH SETTLED UNITS CERTIFICATE) 

[For inclusion in Global Certificate only - THIS CERTIFICATE IS A GLOBAL CERTIFICATE WITHIN THE MEANING OF THE PURCHASE CONTRACT AND PLEDGE
AGREEMENT HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF CEDE & CO., AS NOMINEE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (THE “DEPOSITARY”), THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY. THIS
CERTIFICATE IS EXCHANGEABLE FOR CERTIFICATES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE PURCHASE CONTRACT AND PLEDGE AGREEMENT AND NO TRANSFER OF THIS CERTIFICATE
(OTHER THAN A TRANSFER OF THIS CERTIFICATE AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY) MAY BE REGISTERED EXCEPT IN LIMITED CIRCUMSTANCES. 

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND
ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY (AND ANY PAYMENT HEREON IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED
BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.] 

  
 C-1 

			
	No. CA–	 	CUSIP No.
	Number of Cash Settled Units:	 	ISIN No.

  
 C-2 

 STANLEY BLACK & DECKER, INC. 

Cash Settled Units 
 This Cash
Settled Units Certificate certifies that                  is the registered Holder of the number of Cash Settled Units set forth above [For inclusion in Global
Certificates only - or such other number of Cash Settled Units reflected in the Schedule of Increases or Decreases in Global Certificate attached hereto, which number, taken together with the number of all other Outstanding Cash Settled Units and
the number of all Outstanding Corporate Units and Outstanding Treasury Units, shall not exceed 7,500,000]. Each Cash Settled Unit consists of (i) $100 in Cash, subject to the Pledge of such Cash by such Holder pursuant to the Purchase Contract and
Pledge Agreement, and (ii) the rights and obligations of the Holder under one Purchase Contract with the Company. 
 All capitalized
terms used herein that are defined in the Purchase Contract and Pledge Agreement (as defined on the reverse hereof) have the meaning set forth therein. 

Pursuant to the Purchase Contract and Pledge Agreement, the Cash underlying each Cash Settled Unit evidenced hereby has been pledged to the
Collateral Agent, for the benefit of the Company, to secure the obligations of the Holder under the Purchase Contract comprising part of such Cash Settled Unit. 

The Company shall pay, on each Payment Date, in respect of each Purchase Contract forming part of a Cash Settled Unit evidenced hereby, an
amount (the “Contract Adjustment Payments”) equal to 5.375% per year of the Stated Amount for the period from and including the immediately preceding Payment Date on which Contract Adjustment Payments were paid (or if none,
May 17, 2017) to but excluding such Payment Date. Such Contract Adjustment Payments shall be payable in cash, shares of Common Stock or a combination thereof, at the Company’s election, to the Person in whose name this Cash Settled Units
Certificate is registered at the close of business on the Record Date for such Payment Date. The Company may, at its option, defer such Contract Adjustment Payments as described in the Purchase Contract and Pledge Agreement. The Contract Adjustment
Payments are unsecured and will rank subordinate and junior in right of payment to all of the Company’s existing and future Indebtedness. 

Each Purchase Contract evidenced hereby obligates the Holder of this Cash Settled Units Certificate to purchase, and the Company to sell, on
the Purchase Contract Settlement Date at a Purchase Price equal to the Stated Amount, a number of newly issued shares of Common Stock of the Company, equal to the Settlement Rate, unless prior to or on the Purchase Contract Settlement Date there
shall have occurred a Termination Event, an Early Settlement or a Fundamental Change Early Settlement with respect to such Purchase Contract, all as provided in the Purchase Contract and Pledge Agreement. The Purchase Price for the shares of Common
Stock purchased pursuant to each Purchase Contract 

  
 C-3 

 
evidenced hereby shall be paid on the Purchase Contract Settlement Date by application of the Cash pledged to secure the obligations under such Purchase Contract of the Holder of the Cash Settled
Units of which such Purchase Contract is a part. 
 Contract Adjustment Payments paid in cash will be payable at the office of the Purchase
Contract Agent in New York City, except that Contract Adjustment Payments with respect to Global Certificates will be made by wire transfer of immediately available funds to the Depositary. If the book-entry system for the Corporate Units has been
terminated, the Contract Adjustment Payments paid in cash will be payable, at the option of the Company, by check mailed to the address of the Person entitled thereto at such Person’s address as it appears on the Security Register, or by wire
transfer to the account designated by such Person by prior written notice to the Purchase Contract Agent, given at least ten calendar days prior to the Payment Date. 

Each Purchase Contract evidenced hereby obligates the holder to agree, for United States federal income tax purposes, to (i) treat its
acquisition of the Cash Settled Units as an acquisition of the Cash and Purchase Contracts constituting the Cash Settled Units and (ii) treat itself as the owner of the Cash. 

Reference is hereby made to the further provisions set forth on the reverse hereof, which further provisions shall for all purposes have the
same effect as if set forth at this place. 
 Unless the certificate of authentication hereon has been executed by the Purchase Contract
Agent by manual signature, this Cash Settled Units Certificate shall not be entitled to any benefit under Purchase Contract and Pledge Agreement or be valid or obligatory for any purpose. 

  
 C-4 

 IN WITNESS WHEREOF, the Company and the Holder specified above have caused this instrument to be
duly executed. 
  

			
	STANLEY BLACK & DECKER, INC.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	 HOLDER SPECIFIED ABOVE (as to obligations of such Holder under the Purchase
Contracts)

		
	By:	 	THE BANK OF NEW YORK
		 	TRUST COMPANY, NATIONAL ASSOCIATION, not individually but solely as attorney-in-fact of such Holder
		
	By:	 	  

	Name:	 	
	Title:	 	

 DATED:
                                     

  
 C-5 

 CERTIFICATE OF AUTHENTICATION OF 

PURCHASE CONTRACT AGENT 

This is one of the Cash Settled Units referred to in the within mentioned Purchase Contract and Pledge Agreement. 

 

			
	 THE BANK OF NEW YORK MELLON TRUST COMPANY, NATIONAL ASSOCIATION, as Purchase Contract
Agent

		
	By:	 	  

		 	Authorized Signatory

 DATED:
                                        

  
 C-6 

 (REVERSE OF CASH SETTLED UNITS CERTIFICATE) 

Each Purchase Contract evidenced hereby is governed by a Purchase Contract and Pledge Agreement, dated as of May 17, 2017 (as may be
supplemented from time to time, the “Purchase Contract and Pledge Agreement”) between the Company and The Bank of New York Mellon Trust Company, National Association, as Purchase Contract Agent (including its successors thereunder,
herein called the “Purchase Contract Agent”), and HSBC Bank USA, National Association, as Collateral Agent, Custodial Agent and Securities Intermediary (including its successors thereunder, the “Collateral Agent”),
to which Purchase Contract and Pledge Agreement and supplemental agreements thereto reference is hereby made for a description of the respective rights, limitations of rights, obligations, duties and immunities thereunder of the Purchase Contract
Agent, the Collateral Agent, the Company and the Holders and of the terms upon which the Cash Settled Units Certificates are, and are to be, executed and delivered. 

Each Purchase Contract evidenced hereby obligates the Holder of this Cash Settled Units Certificate to purchase, and the Company to sell, on
the Purchase Contract Settlement Date at a price equal to the Stated Amount, a number of newly issued shares of Common Stock equal to the Settlement Rate, unless an Early Settlement, a Fundamental Change Early Settlement or a Termination Event with
respect to the Unit of which such Purchase Contract is a part shall have occurred. 
 No fractional shares of Common Stock will be issued
upon settlement of Purchase Contracts, as provided in Section 5.07 of the Purchase Contract and Pledge Agreement. 
 Each Purchase
Contract evidenced hereby that is settled through Early Settlement or Fundamental Change Early Settlement shall obligate the Holder of the related Cash Settled Units to purchase at the Purchase Price and the Company to sell, a number of newly issued
shares of Common Stock equal to the applicable settlement rate. 
 In accordance with the terms of the Purchase Contract and Pledge
Agreement, the Holder of this Cash Settled Units Certificate shall pay the Purchase Price for the shares of the Common Stock to be purchased pursuant to each Purchase Contract evidenced hereby either by effecting an Early Settlement or, if
applicable, a Fundamental Change Early Settlement of each such Purchase Contract or by applying the Cash underlying such Holder’s Cash Settled Unit equal to the Purchase Price for such Purchase Contract to the purchase of the Common Stock. 

As provided in the Purchase Contract and Pledge Agreement, upon the occurrence of an Unsuccessful Final Remarketing as of the Purchase
Contract Settlement Date each Holder of any Cash Settled Units shall be deemed to have 

  
 C-7 

 
elected to apply the Cash component of such Holder’s Cash Settled Units to satisfy such Holder’s obligation to pay the aggregate Purchase Price for the shares of Common Stock to be
issued under the related Purchase Contracts in full satisfaction of such Holder’s Obligations under such Purchase Contracts. 
 The
Company shall not be obligated to issue any shares of Common Stock in respect of a Purchase Contract or deliver any certificates therefor to the Holder unless it shall have received payment of the aggregate Purchase Price for the shares of Common
Stock to be purchased thereunder in the manner set forth in the Purchase Contract and Pledge Agreement. 
 Each Purchase Contract evidenced
hereby and all obligations and rights of the Company and the Holder thereunder, shall terminate if a Termination Event shall occur. Upon the occurrence of a Termination Event, the Company shall give written notice to the Purchase Contract Agent and
the Holders, at their addresses as they appear in the Security Register. Upon and after the occurrence of a Termination Event, the Collateral Agent shall release the Cash underlying each Cash Settled Unit from the Pledge. A Cash Settled Unit shall
thereafter represent the right to receive the Cash underlying such Cash Settled Unit, in accordance with the terms of the Purchase Contract and Pledge Agreement. 

The Cash Settled Units Certificates are issuable only in registered form and only in denominations of a single Cash Settled Unit and any
integral multiple thereof. The transfer of any Cash Settled Units Certificate will be registered and Cash Settled Units Certificates may be exchanged as provided in the Purchase Contract and Pledge Agreement. Except as provided in the Purchase
Contract and Pledge Agreement, a Cash Settled Unit shall not be separable into its constituent parts, and the rights and obligations of the Holder of such Cash Settled Unit in respect of the Cash and the Purchase Contract constituting such Cash
Settled Unit may be transferred and exchanged only as a Cash Settled Unit. 
 Subject to and upon compliance with the provisions of the
Purchase Contract and Pledge Agreement, at the option of the Holder thereof, Purchase Contracts underlying Units may be settled early by effecting an Early Settlement or a Fundamental Change Early Settlement as provided in the Purchase Contract and
Pledge Agreement. 
 Upon registration of transfer of this Cash Settled Units Certificate, the transferee shall be bound (without the
necessity of any other action on the part of such transferee, except as may be required by the Purchase Contract Agent pursuant to the Purchase Contract and Pledge Agreement), under the terms of the Purchase Contract and Pledge Agreement and the
Purchase Contracts evidenced hereby and the transferor shall be released from the obligations under the Purchase Contracts evidenced by this Cash Settled Units Certificate. The Company covenants and agrees, and the Holder, by its acceptance hereof,
likewise covenants and agrees, to be bound by the provisions of this paragraph. 

  
 C-8 

 The Holder of this Cash Settled Units Certificate, by its acceptance hereof, authorizes the
Purchase Contract Agent to enter into and perform the related Purchase Contracts forming part of the Cash Settled Units evidenced hereby on its behalf as its
attorney-in-fact, expressly withholds any consent to the assumption (i.e., affirmance) of the Purchase Contracts by the Company or its trustee in the event that the
Company becomes the subject of a case under the Bankruptcy Code, agrees to be bound by the terms and provisions thereof, covenants and agrees to perform its obligations under such Purchase Contracts, consents to the provisions of the Purchase
Contract and Pledge Agreement, authorizes the Purchase Contract Agent to enter into and perform the Purchase Contract and Pledge Agreement on its behalf as its
attorney-in-fact, and consents to the Pledge of the Cash underlying this Cash Settled Units Certificate pursuant to the Purchase Contract and Pledge Agreement. The
Holder further covenants and agrees, that, to the extent and in the manner provided in the Purchase Contract and Pledge Agreement, but subject to the terms thereof, on the Purchase Contract Settlement Date an amount of Pledged Cash equal to the
aggregate Purchase Price for the related Purchase Contracts shall be paid by the Collateral Agent to the Company in satisfaction of such Holder’s obligations under such Purchase Contracts. 

Subject to certain exceptions, the provisions of the Purchase Contract and Pledge Agreement may be amended with the consent of the Holders of
a majority of the Purchase Contracts. 
 The Purchase Contracts shall be governed by, and construed in accordance with, the laws of the
State of New York, without giving effect to the conflicts of law provisions thereof to the extent a different law would govern as a result. 

The Purchase Contracts shall not, prior to the settlement thereof, entitle the Holder to any of the rights of a holder of shares of Common
Stock or Common Stock. 
 Prior to due presentment of this Certificate for registration of transfer, the Company, the Purchase Contract
Agent and its Affiliates and any agent of the Company or the Purchase Contract Agent may treat the Person in whose name this Cash Settled Units Certificate is registered as the owner of the Cash Settled Units evidenced hereby for the purpose of
receiving payments of Contract Adjustment Payments (subject to any applicable record date), performance of the Purchase Contracts and for all other purposes whatsoever, whether or not any payments in respect thereof be overdue and notwithstanding
any notice to the contrary, and neither the Company, the Purchase Contract Agent nor any such agent shall be affected by notice to the contrary. 

A copy of the Purchase Contract and Pledge Agreement is available for inspection at the offices of the Purchase Contract Agent during regular
business hours. 

  
 C-9 

 ABBREVIATIONS 

The following abbreviations, when used in the inscription on the face of this instrument, shall be construed as though they were written out
in full according to applicable laws or regulations: 
  

			
	TEN COM:	  	 as tenants in common

 

							
	 UNIF GIFT MN ACT:
	 	  
	  	Custodian	  	  

	 (cust)
	 	(minor)	  		  	

  

			
	Under Uniform Gifts to Minors Act of

  

			
	 TENANT:
	  	 as tenants by the entireties

		
	 JT TEN:
	  	 as joint tenants with right of survivorship and not as tenants in
common

 Additional abbreviations may also be used though not in the above list. 

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

 
 (Please insert Social Security or Taxpayer I.D. or
other Identifying Number of Assignee) 
  
  

(Please Print or Type Name and Address Including Postal Zip Code of Assignee) 

the within Cash Settled Units Certificates and all rights thereunder, hereby irrevocably constituting and appointing attorney, to transfer said Cash Settled
Units Certificates on the books of Stanley Black & Decker, Inc., with full power of substitution in the premises 
  

			
	Dated:                                 	  	Signature                             
		  	NOTICE: The signature to this assignment must correspond with the name as it appears upon the face of the within Cash Settled Units Certificates in every particular, without alteration or enlargement or any change
whatsoever.

 Signature Guarantee:
                                         
                                    

  
 C-10 

 SETTLEMENT INSTRUCTIONS 

The undersigned Holder directs that a certificate for shares of Common Stock deliverable upon settlement on or after the Purchase Contract
Settlement Date of the Purchase Contracts underlying the number of Cash Settled Units evidenced by this Cash Settled Units Certificate be registered in the name of, and delivered, together with a check in payment for any fractional share, to the
undersigned at the address indicated below unless a different name and address have been indicated below. If shares are to be registered in the name of a Person other than the undersigned, the undersigned will pay any transfer tax payable incident
thereto. 
  

							
	Dated:	  				  	(if assigned to another person)
			
	If shares are to be registered in the name of and delivered to a Person other than the Holder, please (i) print such Person’s name and address and (ii) provide a guarantee of your signature:	  				  	 REGISTERED HOLDER
  

Please print name and address of registered Holder:

			
	  
	  				  	  

	Name	  				  	Name
	  
	  				  	  

	Address	  				  	Address
	  
	  				  	  

	  
	  				  	  

	  
	  				  	  

			
	Social Security or other Taxpayer Identification Number, if any	  				  	
	  
	  				  	
	Signature	  				  	

 Signature Guarantee:
                                         
                                        

  
 C-11 

 ELECTION TO SETTLE EARLY/FUNDAMENTAL CHANGE EARLY SETTLEMENT 

The undersigned Holder of this Cash Settled Units Certificate hereby irrevocably exercises the option to effect [Early Settlement]
[Fundamental Change Early Settlement] in accordance with the terms of the Purchase Contract and Pledge Agreement with respect to the Purchase Contracts underlying the number of Cash Settled Units evidenced by this Cash Settled Units Certificate
specified below. The option to effect [Early Settlement] [Fundamental Change Early Settlement] may be exercised only with respect to Purchase Contracts underlying Cash Settled Units in multiples of 10 Cash Settled Units or an integral multiple
thereof. The undersigned Holder directs that a certificate for shares of Common Stock deliverable upon such [Early Settlement] [Fundamental Change Early Settlement] be registered in the name of, and delivered, together with any Cash Settled Units
Certificate representing any Cash Settled Units evidenced hereby as to which [Early Settlement] [Fundamental Change Early Settlement] of the related Purchase Contracts is not effected, to the undersigned at the address indicated below unless a
different name and address have been indicated below. Pledged Cash deliverable upon such [Early Settlement] [Fundamental Change Early Settlement] will be transferred in accordance with the transfer instructions set forth below. If shares are to be
registered in the name of a Person other than the undersigned, the undersigned will pay any transfer tax payable incident thereto. 
 Dated:
                                        
                    
Signature                              

Signature Guarantee:
                                         
                                         
           
 Number of Units evidenced hereby as to which [Early Settlement]
[Fundamental Change Early Settlement] of the related Purchase Contracts is being elected: 
  

					
	If shares of Common Stock or Cash Settled Units Certificates are to be registered in the name of and delivered to and Pledged Cash is to be transferred to a Person other than the Holder, please print such Person’s name and
address:	  		  	 REGISTERED HOLDER
  

Please print name and address of registered Holder:

			
	  
	  		  	  

	Name	  		  	Name
	  
	  		  	  

	Address	  		  	Address

  
 C-12 

					
	  
	 		  	  

	  
	 		  	  

	  
	 		  	  

			
	Social Security or other Taxpayer Identification Number, if any	 		  	
	  
	 		  	

 REGISTERED HOLDER 

Transfer Instructions for Pledged Cash Transferable upon [Early Settlement] [Fundamental Change Early Settlement]: 

  
 C-13 

 [TO BE ATTACHED TO GLOBAL CERTIFICATES] 

SCHEDULE OF INCREASES OR DECREASES IN 

GLOBAL CERTIFICATE 
 The
initial number of Cash Settled Units evidenced by this Global Certificate is                     . The following increases or decreases in this
Global Certificate have been made: 
  

									
	 Date
	 	 Amount of increase in
number of Cash

Settled Units
 evidenced by
the
 Global Certificate
	 	 Amount of decrease

in number of Cash
 Settled
Units
 evidenced by the

Global Certificate
	  	 Number of Cash

Settled Units
 evidenced by
this
 Global Certificate
following such

decrease or increase
	  	 Signature of

authorized signatory
 of
Purchase Contract
 Agent

		 		 		  		  	
		 		 		  		  	
		 		 		  		  	
		 		 		  		  	

  
 C-14 

 EXHIBIT D 

INSTRUCTION TO PURCHASE CONTRACT AGENT FROM HOLDER 

(To Create Treasury Units or Corporate Units) 

The Bank of New York Mellon Trust Company, National Association, 

as Purchase Contract Agent 
 [Address] 

 

	Re:	[         Corporate Units] [         Treasury Units] of Stanley Black & Decker, Inc., a Connecticut corporation (the
“Company”). 

 The undersigned Holder hereby notifies you that it has delivered to HSBC Bank USA, National
Association, as Securities Intermediary, for credit to the Collateral Account, $             [Value of Convertible Preferred Stock] [Cash] in exchange for [proceeds of the Treasury Security
corresponding to              Treasury Units (the “Treasury Unit Proceeds”)] [an equal Value of Convertible Preferred Stock underlying Pledged Applicable Ownership
Interests in Convertible Preferred Stock] held in the Collateral Account, in accordance with the Purchase Contract and Pledge Agreement, dated as of May 17, 2017 (the “Agreement”; unless otherwise defined herein, terms defined
in the Agreement are used herein as defined therein), among you, as the Purchase Contract Agent, and the Company, the Collateral Agent, the Custodial Agent and the Securities Intermediary. The undersigned Holder has paid all applicable fees and
expenses relating to such exchange. The undersigned Holder hereby instructs you to instruct the Collateral Agent to release to you on behalf of the undersigned Holder the [Convertible Preferred Stock underlying Pledged Applicable Ownership Interests
in Convertible Preferred Stock] [Treasury Unit Proceeds] related to such [Corporate Units] [Treasury Units]. 

Dated:                         
                        
Signature:                                       
                                       

Signature
Guarantee:                                       
                                

Please print name and address of 

registered Holder: 
  

					
	  
	  		  	  

	Name	  		  	 Social Security or other Taxpayer

Identification Number, if any

			
	Address	  		  	
	  
	  		  	

  
 D-1 

 EXHIBIT E 

INSTRUCTION TO PURCHASE CONTRACT AGENT FROM HOLDER 

(To Create Cash Settled Units) 
 The Bank of New
York Mellon Trust Company, National Association, 
 as Purchase Contract Agent 

[Address] 
 Re:
             Cash Settled Units of Stanley Black & Decker, Inc., a Connecticut corporation (the “Company”). 

The undersigned Holder hereby notifies you that it has delivered to HSBC Bank USA, National Association, as Securities Intermediary, for
credit to the Collateral Account, $             in exchange for an equal Value of Convertible Preferred Stock underlying Pledged Applicable Ownership Interests in Convertible Preferred
Stock held in the Collateral Account, in accordance with the Purchase Contract and Pledge Agreement, dated as of May 17, 2017 (the “Agreement”; unless otherwise defined herein, terms defined in the Agreement are used herein as
defined therein), among you, as the Purchase Contract Agent, and the Company, the Collateral Agent, the Custodial Agent and the Securities Intermediary. The undersigned Holder has paid all applicable fees and expenses relating to such exchange. The
undersigned Holder hereby instructs you to instruct the Collateral Agent to release to you on behalf of the undersigned Holder the Convertible Preferred Stock underlying Pledged Applicable Ownership Interests in Convertible Preferred Stock related
to such Corporate Units. 
  

											
	Dated:	  	  
	  		  	Signature:	  	  
	  	

 Signature Guarantee:
                                         
            
  

			
	Please print name and address of registered Holder:	  	
		
	  

Name
	  	  
 Social Security or other Taxpayer
Identification Number, if any

		
	 Address
	  	
	  
	  	
	  
	  	
	  
	  	

  
 E-1 

 EXHIBIT F 

NOTICE FROM PURCHASE CONTRACT AGENT 

TO HOLDERS UPON TERMINATION EVENT 

(Transfer of Collateral upon Occurrence of a Termination Event) 

[HOLDER] 
 Attention: 

Telecopy: 
 Re: [        
Corporate Units] [         Treasury Units] [         Cash Settled Units] of Stanley Black & Decker, Inc., a Connecticut corporation (the
“Company”) 
 Please refer to the Purchase Contract and Pledge Agreement, dated as of May 17, 2017 (the
“Purchase Contract and Pledge Agreement”; unless otherwise defined herein, terms defined in the Purchase Contract and Pledge Agreement are used herein as defined therein), among the Company, the undersigned, as Purchase Contract
Agent and as attorney-in-fact for the holders of Corporate Units and Treasury Units from time to time, and HSBC Bank USA, National Association, as the Collateral Agent,
the Custodial Agent and the Securities Intermediary. 
 We hereby notify you that a Termination Event has occurred and that [the Convertible
Preferred Stock underlying the Pledged Applicable Ownership Interests in Convertible Preferred Stock] [the Pledged Applicable Ownership Interests in the Treasury Portfolio] [the Proceeds of the Treasury Security] [Pledged Cash] comprising a portion
of your ownership interest in                  [Corporate Units] [Treasury Units] [Cash Settled Units] have been released and are being held by us for your account
pending receipt of transfer instructions with respect to such [Convertible Preferred Stock] [Pledged Applicable Ownership Interests in the Treasury Portfolio] [Proceeds of the Treasury Security] [Pledged Cash] (the “Released
Securities”). 
 Pursuant to Section 3.16 of the Purchase Contract and Pledge Agreement, we hereby request written transfer
instructions with respect to the Released Securities. Upon receipt of your instructions and upon transfer to us of your [Corporate Units] [Treasury Units] [Cash Settled Units] effected through book-entry or by delivery to us of your [Corporate Units
Certificate] [Treasury Units Certificate] [Cash Settled Units Certificate], we shall transfer the Released Securities by [book-entry transfer] [wire transfer] or other appropriate procedures, in accordance with your instructions. In the event you
fail to effect such transfer or delivery, the Released Securities and any distributions thereon, shall be held in our name, or a nominee in trust for your benefit, until such time as such [Corporate Units] [Treasury Units] [Cash Settled Units] are
transferred or your [Corporate Units Certificate] [Treasury Units Certificate] [Cash Settled Units 

  
 F-1 

 
Certificate] is surrendered or satisfactory evidence is provided that such [Corporate Units Certificate] [Treasury Units Certificate] [Cash Settled Units Certificate] has been destroyed, lost or
stolen, together with any indemnification that we or the Company may require. 
  

							
	Date:	 	  
	  	 THE BANK OF NEW YORK MELLON

TRUST COMPANY, NATIONAL ASSOCIATION, as Purchase Contract Agent

	 	  	By:	  	  

		 		  		  	Name:
		 		  		  	Title:

  
 F-2 

 EXHIBIT G 

INSTRUCTION 
 FROM
PURCHASE CONTRACT AGENT 
 TO COLLATERAL AGENT 

(Creation of Treasury Units) 
 HSBC Bank USA,
National Association, 
 as Collateral Agent 
 452 Fifth Avenue

 New York, NY 10018 
 Attention: Joseph Llorett 

Fax: (212) 525-1300 
 Re:
Corporate Units of Stanley Black & Decker, Inc. (the “Company”) 
 Please refer to the Purchase Contract and
Pledge Agreement, dated as of May 17, 2017 (the “Agreement”), among the Company, you, as Collateral Agent, as Securities Intermediary and as Custodial Agent, and the undersigned, as Purchase Contract Agent and as attorney-in-fact for the holders of Corporate Units from time to time. Capitalized terms used herein but not defined shall have the meaning set forth in the Agreement. 

We hereby notify you in accordance with Section 3.13 of the Agreement that the holder of securities named below (the
“Holder”) has elected to substitute [    ] Treasury Securities in exchange for an equal Value of Convertible Preferred Stock underlying Pledged Applicable Ownership Interests in Convertible Preferred Stock
relating to Corporate Units and has delivered to the undersigned a notice stating that the Holder has Transferred such Treasury Securities to the Securities Intermediary, for credit to the Collateral Account. 

We hereby request that you instruct the Securities Intermediary, upon confirmation that such Treasury Securities have been credited to the
Collateral Account, to release to the undersigned an equal Value of Convertible Preferred Stock underlying Pledged Applicable Ownership Interests in Convertible Preferred Stock or security entitlements with respect thereto related to
                 Corporate Units of such Holder in accordance with Section 3.13 of the Agreement. 

  
 G-1 

							
	Date:	 	  
	  	The Bank of New York Mellon Trust Company, National Association, as Purchase Contract Agent and as attorney-in-fact of the Holders from
time to time of the Units
		 		  	
	 	  	By:	  	  

		 		  		  	Name:
		 		  		  	Title:

 Please print name and address of Holder electing to substitute Cash for the Convertible Preferred Stock
underlying Pledged Applicable Ownership Interests in Convertible Preferred Stock: 
  

			
	Please print name and address of registered Holder:	  	
	  
	  	  

	 Name:
	  	 Social Security or other Taxpayer Identification Number, if any

		
	 Address
	  	
	  
	  	
	  
	  	

  
 G-2 

 EXHIBIT H 

INSTRUCTION 
 FROM
COLLATERAL AGENT 
 TO SECURITIES INTERMEDIARY 

(Creation of Treasury Units) 
 HSBC Bank USA,
National Association, 
 as Securities Intermediary 
 452 Fifth
Avenue 
 New York, NY 10018 
 Attention: Joseph Llorett 

Fax: (212) 525-1300 
 Re:
Corporate Units of Stanley Black & Decker, Inc. (the “Company”) 
 This notice relates to the securities account
of HSBC Bank USA, National Association, as Collateral Agent, maintained by the Securities Intermediary and designated “HSBC Bank USA, National Association, as Collateral Agent of Stanley Black & Decker, Inc., as pledgee of The Bank of
New York Mellon Trust Company, National Association, as the Purchase Contract Agent on behalf of and as attorney-in-fact for the Holders” (the “Collateral
Account”). 
 Please refer to the Purchase Contract and Pledge Agreement, dated as of May 17, 2017 (the
“Agreement”), among the Company, you, as Collateral Agent, as Securities Intermediary and as Custodial Agent, and The Bank of New York Mellon Trust Company, National Association, as Purchase Contract Agent and as attorney-in-fact for the holders of Corporate Units from time to time. Capitalized terms used herein but not defined shall have the meaning set forth in the Agreement. 

When you have confirmed that [    ] Treasury Securities have been credited to the Collateral Account by or for the benefit
of                 , as Holder of Corporate Units (the “Holder”), you are hereby instructed to release from the Collateral Account an equal Value of
Convertible Preferred Stock underlying Pledged Applicable Ownership Interests in Convertible Preferred Stock or security entitlements with respect thereto relating to
                 Corporate Units of the Holder by Transfer to the Purchase Contract Agent. 

  
 H-1 

							
	Date:	 	  
	  		  	HSBC Bank USA, National Association, as Collateral Agent
				
		 		  		  	  

				
		 	By:	  		  	  

		 		  		  	Name:
		 		  		  	Title:
		 		  		  	Authorized Signatory

  
 H-2 

 EXHIBIT I 

INSTRUCTION 
 FROM
PURCHASE CONTRACT AGENT 
 TO COLLATERAL AGENT 

(Creation of Cash Settled Units) 
 HSBC Bank USA,
National Association, 
 as Collateral Agent 
 452 Fifth Avenue

 New York, NY 10018 
 Attention: Joseph Llorett 

Fax: (212) 525-1300 
 Re:
Corporate Units of Stanley Black & Decker, Inc. (the “Company”) 
 Please refer to the Purchase Contract and
Pledge Agreement, dated as of May 17, 2017 (the “Agreement”), among the Company, you, as Collateral Agent, as Securities Intermediary and as Custodial Agent, and the undersigned, as Purchase Contract Agent and as attorney-in-fact for the holders of Corporate Units from time to time. Capitalized terms used herein but not defined shall have the meaning set forth in the Agreement. 

We hereby notify you in accordance with Section 3.13 of the Agreement that the holder of securities named below (the
“Holder”) has elected to substitute $[            ] of Cash in exchange for an equal Value of Convertible Preferred Stock underlying Pledged Applicable Ownership Interests
in Convertible Preferred Stock relating to Corporate Units and has delivered to the undersigned a notice stating that the Holder has Transferred such Cash to the Securities Intermediary, for credit to the Collateral Account. 

We hereby request that you instruct the Securities Intermediary, upon confirmation that such Cash has been credited to the Collateral Account,
to release to the undersigned an equal Value of Convertible Preferred Stock underlying Pledged Applicable Ownership Interests in Convertible Preferred Stock or security entitlements with respect thereto related to
                 Corporate Units of such Holder in accordance with Section 3.13 of the Agreement. 

 

					
	Date:	 	  
	  	The Bank of New York Mellon Trust Company, National Association, as Purchase Contract Agent and as attorney-in-fact of the Holders from time to time
of the Units

  
 I-1 

 
			
	By:	 	  

		 	Name:
		 	Title:

 Please print name and address of Holder electing to substitute Cash for the Convertible Preferred Stock
underlying Pledged Applicable Ownership Interests in Convertible Preferred Stock: 
  

			
	 Please print name and address of registered Holder:
	  	  

	 Name:
	  	Social Security or other Taxpayer Identification Number, if any
		
	 Address
	  	
	  
	  	
	  
	  	

  
 I-2 

 EXHIBIT J 

INSTRUCTION 
 FROM
COLLATERAL AGENT 
 TO SECURITIES INTERMEDIARY 

(Creation of Cash Settled Units) 
 HSBC Bank USA,
National Association, 
 as Securities Intermediary 
 452 Fifth
Avenue 
 New York, NY 10018 
 Attention: Joseph Llorett 

Fax: (212) 525-1300 
 Re:
Corporate Units of Stanley Black & Decker, Inc. (the “Company”) 
 This notice relates to the securities account
of HSBC Bank USA, National Association, as Collateral Agent, maintained by the Securities Intermediary and designated “HSBC Bank USA, National Association, as Collateral Agent of Stanley Black & Decker, Inc., as pledgee of The Bank of
New York Mellon Trust Company, National Association, as the Purchase Contract Agent on behalf of and as attorney-in-fact for the Holders” (the “Collateral
Account”). 
 Please refer to the Purchase Contract and Pledge Agreement, dated as of May 17, 2017 (the
“Agreement”), among the Company, you, as Collateral Agent, as Securities Intermediary and as Custodial Agent, and The Bank of New York Mellon Trust Company, National Association, as Purchase Contract Agent and as attorney-in-fact for the holders of Corporate Units from time to time. Capitalized terms used herein but not defined shall have the meaning set forth in the Agreement. 

When you have confirmed that $             of Cash has been credited to the
Collateral Account by or for the benefit of                 , as Holder of Corporate Units (the “Holder”), you are hereby instructed to release from the
Collateral Account an equal Value of Convertible Preferred Stock underlying Pledged Applicable Ownership Interests in Convertible Preferred Stock or security entitlements with respect thereto relating to
                 Corporate Units of the Holder by Transfer to the Purchase Contract Agent. 

  
 J-1 

					
	Date:	 	  
	  	HSBC Bank USA, National Association, as Collateral Agent
			
		 		  	  

			
		 	By:	  	  

		 		  	Name:
		 		  	Title:
		 		  	Authorized Signatory

  
 J-2 

 EXHIBIT K 

INSTRUCTION 
 FROM
PURCHASE CONTRACT AGENT 
 TO COLLATERAL AGENT 

(Recreation of Corporate Units) 
 HSBC Bank USA,
National Association, 
 as Collateral Agent 
 452 Fifth Avenue

 New York, NY 10018 
 Attention: Joseph Llorett 

Fax: (212) 525-1300 
  

	Re:	Treasury Units of Stanley Black & Decker, Inc. (the “Company”) 

Please refer to the Purchase Contract and Pledge Agreement dated as of May 17, 2017 (the “Agreement”), among the
Company, you, as Collateral Agent, as Securities Intermediary and as Custodial Agent, and the undersigned, as Purchase Contract Agent and as attorney-in-fact for the
holders of Treasury Units from time to time. Capitalized terms used herein but not defined shall have the meaning set forth in the Agreement. 

We hereby notify you in accordance with Section 3.15 of the Agreement that the holder of securities named below (the
“Holder”) has elected to substitute $[●] Value of Convertible Preferred Stock or security entitlements with respect thereto in exchange for the Treasury Securities relating to [●] Treasury Units and has delivered to the
undersigned a notice stating that the holder has Transferred such Convertible Preferred Stock or security entitlements with respect thereto to the Securities Intermediary, for credit to the Collateral Account. 

We hereby request that you instruct the Securities Intermediary, upon confirmation that such Convertible Preferred Stock or security
entitlements with respect thereto have been credited to the Collateral Account, to release to the undersigned the proceeds of the Treasury Security related to [●] Treasury Units of such Holder in accordance with Section 3.15 of the
Agreement. 

  
 K-1 

							
	Date:	 	  
	  	The Bank of New York Mellon Trust Company, National Association, as Purchase Contract Agent
				
		 		  	By:	  	  

				
		 		  		  	Name:
		 		  		  	Title:

  

			
	 Please print name and address of registered Holder:
	  	  

	 Name:
	  	 Social Security or other Taxpayer Identification Number, if any

		
	 Address
	  	
	  
	  	
	  
	  	

  
 K-2 

 EXHIBIT L 

INSTRUCTION 
 FROM
COLLATERAL AGENT 
 TO SECURITIES INTERMEDIARY 

(Recreation of Corporate Units) 
 HSBC Bank USA,
National Association, 
 as Securities Intermediary 
 452 Fifth
Avenue 
 New York, NY 10018 
 Attention: Joseph Llorett 

Fax: (212) 525-1300 
  

	Re:	Treasury Units of Stanley Black & Decker, Inc. (the “Company”) 

 This
notice relates to the securities account of HSBC Bank USA, National Association, as Collateral Agent, maintained by the Securities Intermediary and designated “HSBC Bank USA, National Association, as Collateral Agent of Stanley Black &
Decker, Inc., as pledgee of The Bank of New York Mellon Trust Company, National Association, as the Purchase Contract Agent on behalf of and as attorney-in-fact for the
Holders” (the “Collateral Account”). 
 Please refer to the Purchase Contract and Pledge Agreement dated as of
May 17, 2017 (the “Agreement”), among the Company, you, as Securities Intermediary, Custodial Agent and Collateral Agent, and The Bank of New York Mellon Trust Company, National Association, as Purchase Contract Agent and as attorney-in-fact for the holders of Treasury Units from time to time. Capitalized terms used herein but not defined shall have the meaning set forth in the Agreement. 

When you have confirmed that $[●] Value of Convertible Preferred Stock or security entitlements with respect thereto has been credited
to the Collateral Account by or for the benefit of [●], as Holder of Treasury Units (the “Holder”), you are hereby instructed to release from the Collateral Account the Treasury Securities corresponding to [●] Treasury
Units by Transfer to the Purchase Contract Agent. 
  

							
	Date:	 	  
	  	HSBC Bank USA, National Association, as Collateral Agent
		 		  	  

				
		 		  	By:	  	  

		 		  	Name:	  	
		 		  	Title:	  	
		 		  	Authorized Signatory

  
 L-1 

 EXHIBIT M 

INSTRUCTION FROM HOLDER OF SEPARATE SHARES OF CONVERTIBLE PREFERRED STOCK TO CUSTODIAL AGENT REGARDING REMARKETING 

HSBC Bank USA, National Association, 
 as Custodial Agent 

452 Fifth Avenue 
 New York, NY 10018 

Attention: Joseph Llorett 
 Fax: (212) 525-1300 
  

	Re:	Convertible Preferred Stock of Stanley Black & Decker, Inc. (the “Company”) 

The undersigned Holder hereby notifies you in accordance with Section 5.02(e) of the Purchase Contract and Pledge Agreement, dated as of
May 17, 2017 (the “Agreement”), among the Company, you, as Collateral Agent, Custodial Agent and Securities Intermediary, and The Bank of New York Mellon Trust Company, National Association, as the Purchase Contract Agent and
as attorney-in-fact for the holders of Corporate Units, Treasury Units and Cash Settled Units from time to time, that the undersigned elects to deliver [●]
aggregate number of Separate Shares of Convertible Preferred Stock for delivery to a Remarketing Agent prior to a Remarketing, other than during a Blackout Period, for remarketing pursuant to Section 5.02(e) of the Agreement. The undersigned will,
upon request of a Remarketing Agent, execute and deliver any additional documents deemed by such Remarketing Agent or by the Company to be necessary or desirable to complete the sale, assignment and transfer of the Separate Shares of Convertible
Preferred Stock tendered hereby. Capitalized terms used herein but not defined shall have the meaning set forth in the Agreement. 
 The
undersigned hereby instructs you, upon receipt of the Proceeds of a Successful Remarketing from the Remarketing Agent, to deliver such Proceeds to the undersigned in accordance with the instructions indicated herein under “A. Payment
Instructions.” The undersigned hereby instructs you, in the event of an Unsuccessful Remarketing, upon receipt of the Separate Shares of Convertible Preferred Stock tendered herewith from the Remarketing Agents, to deliver such Separate
Shares of Convertible Preferred Stock to the person(s) and the address(es) indicated herein under “B. Delivery Instructions.” 

With this notice, the undersigned hereby (i) represents and warrants that the undersigned has full power and authority to tender, sell,
assign and transfer the Separate Shares of Convertible Preferred Stock tendered hereby and that the undersigned is the record owner of any Separate Shares of Convertible Preferred 

  
 M-1 

 
Stock tendered herewith in physical form or a participant in The Depository Trust Company (“DTC”) and the beneficial owner of any Separate Shares of Convertible Preferred Stock
tendered herewith by book-entry transfer to your account at DTC, (ii) agrees to be bound by the terms and conditions of Section 5.02 of the Agreement and (iii) acknowledges and agrees that after the close of business on the second
Business Day immediately preceding the first day of the Applicable Remarketing Period, such election shall become an irrevocable election to have such Separate Shares of Convertible Preferred Stock remarketed in each Remarketing during the
Applicable Remarketing Period, and that the Separate Shares of Convertible Preferred Stock tendered herewith will only be returned in the event of an Unsuccessful Remarketing, subject to Section 5.02(b)(vii) of the Agreement. 

 

							
	Date:	 	  
	  	     

	 	  	By:	  	  

		 		  	Name:	  	
		 		  	Title:	  	

  

			
		 	  

	Signature Guarantee:	 	  

		 	  

  

			
	  
	  	  

	Name:	  	 Social Security or other Taxpayer Identification Number, if any

		
	  
	  	
	 Address
	  	
	  
	  	
	  
	  	

  
 M-2 

 A.     PAYMENT INSTRUCTIONS 

Proceeds of a Successful Remarketing should be paid by check in the name of the person(s) set forth below and mailed to the address set forth
below. 
 Name(s) 
 (Please Print) 

Address 
 (Please Print) 

(Zip Code) 
 (Tax Identification or Social Security Number) 

B.     DELIVERY INSTRUCTIONS 

In the event of an Unsuccessful Remarketing, subject to Section 5.02(b)(vii) of the Agreement, shares of Convertible Preferred Stock which are
in physical form should be delivered to the person(s) set forth below and mailed to the address set forth below. 
 Name(s) 

(Please Print) 
 Address 

(Please Print) 
 (Zip Code) 

(Tax Identification or Social Security Number) 

In the event of an Unsuccessful Remarketing, subject to Section 5.02(b)(vii) of the Agreement, shares of Convertible Preferred Stock which are
in book-entry form should be credited to the account at The Depository Trust Company set forth below. 
 DTC Account Number 

Name of Account Party: 

  
 M-3 

 EXHIBIT N 

INSTRUCTION FROM HOLDER OF SEPARATE SHARES OF CONVERTIBLE PREFERRED STOCK TO CUSTODIAL AGENT REGARDING WITHDRAWAL FROM REMARKETING 

HSBC Bank USA, National Association, 
 as Custodial Agent 

452 Fifth Avenue 
 New York, NY 10018 

Attention: Joseph Llorett 
 Fax: (212) 525-1300 
  

	Re:	Convertible Preferred Stock of Stanley Black & Decker, Inc. (the “Company”) 

The undersigned Holder hereby notifies you in accordance with Section 5.02(e) of the Purchase Contract and Pledge Agreement, dated as of
May 17, 2017 (the “Agreement”), among the Company and you, as Collateral Agent, Custodial Agent and Securities Intermediary, and The Bank of New York Mellon Trust Company, National Association, as Purchase Contract Agent and as
attorney-in-fact for the holders of Corporate Units, Treasury Units and Cash Settled Units from time to time, that the undersigned elects to withdraw the [●]
Separate Shares of Convertible Preferred Stock delivered to you for Remarketing pursuant to Section 5.02 of the Agreement. The undersigned hereby instructs you to return such Separate Shares of Convertible Preferred Stock to the undersigned in
accordance with the undersigned’s instructions. With this notice, the Undersigned hereby agrees to be bound by the terms and conditions of Section 5.02 of the Agreement. Capitalized terms used herein but not defined shall have the meaning
set forth in the Agreement. 
  

							
	Date:	 	  
	  	     

	 	  	By:	  	  

		 		  	Name:	  	
		 		  	Title:	  	

  

							
		 		  	Signature Guarantee:	  	  

		 		  		  	  

		 		  		  	  

 

			
	  
	  	  

	Name:	  	Social Security or other Taxpayer Identification Number, if any
		
	  
	  	
	 Address:
	  	
	  
	  	
	  
	  	

  

  
 N-1 

 EXHIBIT O 

NOTIFICATION FROM PURCHASE CONTRACT AGENT TO COLLATERAL AGENT REGARDING FUNDAMENTAL CHANGE EARLY SETTLEMENT 

HSBC Bank USA, National Association, 
 as Custodial Agent 

452 Fifth Avenue 
 New York, NY 10018 

Attention: Joseph Llorett 
 Fax: (212) 525-1300 
  

	Re:	Convertible Preferred Stock of Stanley Black & Decker, Inc. (the “Company”) 

 The
undersigned hereby notifies you in accordance with Section 5.04(a) of the Purchase Contract and Pledge Agreement, dated as of May 17, 2017 (the “Agreement”), among the Company and you, as Collateral Agent, Custodial Agent and
Securities Intermediary, and the undersigned, as Purchase Contract Agent and as attorney-in-fact for the holders of Corporate Units, Treasury Units and Cash Settled
Units from time to time, that all the conditions necessary for a Fundamental Change Early Settlement (as defined in the Agreement) by the below specified Holder have been satisfied pursuant to which the undersigned has received from such Holder, and
paid to the Company as confirmed in writing by the Company, the below specified Purchase Price. 
  

			
	Holder:                                   
  
	Purchase Price:                        

  

							
		 		  	 THE BANK OF NEW YORK MELLON TRUST COMPANY, NATIONAL ASSOCIATION, as Purchase
Contract Agent

	 	  	By:	  	  

		 		  		  	Name:
		 		  		  	Title:

DATED:                         
          

  
 O-1 

 EXHIBIT P 

NOTICE TO SETTLE WITH CASH AFTER UNSUCCESSFUL FINAL REMARKETING 

The Bank of New York Mellon Trust Company, National Association, 

as Purchase Contract Agent 
 [Address] 

 

	Re:	Corporate Units of Stanley Black & Decker, Inc., a Connecticut corporation (the “Company”). 

The undersigned Holder hereby irrevocably notifies you in accordance with Section 5.02(b)(vii) of the Purchase Contract and Pledge Agreement,
dated as of May 17, 2017 (the “Purchase Contract and Pledge Agreement”), among you, as the Purchase Contract Agent, and the Company, the Collateral Agent, the Custodial Agent and the Securities Intermediary, that such Holder
has elected to pay to or upon the order of the Securities Intermediary for deposit in the Collateral Account, on or prior to 5:00 p.m. (New York City time) on the Business Day immediately preceding the Purchase Contract Settlement Date (in Cash by
certified or cashier’s check or wire transfer, in immediately available funds), $[            ] as the Purchase Price for the shares of Common Stock issuable to such Holder by the
Company with respect to [        ] Purchase Contracts on the Purchase Contract Settlement Date. The undersigned Holder hereby instructs you to notify promptly the Collateral Agent of the undersigned
Holders’ election to settle the Purchase Contracts related to such Holder’s Corporate Units with separate cash. 
  

									
	 Dated:
	 	  
	 		  	 Signature:
	  	  

  

							
	Signature Guarantee:	  	  
	  	

  

			
	 Please print name and address of registered Holder:
	  	
	  
	  	  

	Name	  	 Social Security or other Taxpayer Identification Number, if any

		
	 Address
	  	

  
 P-1 

 EXHIBIT Q 

NOTICE FROM PURCHASE CONTRACT AGENT 

TO COLLATERAL AGENT 

(Settlement with Separate Cash) 
 HSBC Bank USA,
National Association, 
 as Custodial Agent 
 452 Fifth Avenue

 New York, NY 10018 
 Attention: Joseph Llorett 

Fax: (212) 525-1300 
  

	Re:	Corporate Units of Stanley Black & Decker, Inc. (the “Company”) 

Please refer to the Purchase Contract and Pledge Agreement, dated as of May 17, 2017 (the “Agreement”), among the
Company, you, as Collateral Agent, as Securities Intermediary and as Custodial Agent, and the undersigned, as Purchase Contract Agent and as attorney-in-fact for the
holders of Corporate Units and Treasury Units from time to time. Capitalized terms used herein but not defined shall have the meaning set forth in the Agreement. 

We hereby notify you in accordance with Section 5.02(b)(vii) of the Agreement that the holder of Corporate Units named below (the
“Holder”) has elected to settle the [        ] Purchase Contracts related to its Pledged Applicable Ownership Interests in Convertible Preferred Stock with
[        ] of separate cash prior to 5:00 p.m. (New York City time) on the second Business Day immediately preceding the Purchase Contract Settlement Date (in Cash by certified or cashier’s check or wire
transfer, in immediately available funds payable to or upon the order of the Securities Intermediary) and has delivered to the undersigned a notice to that effect. 

We hereby request that you, upon confirmation that the Purchase Price has been paid by the Holder to the Securities Intermediary in accordance
with Section 5.02(b)(vii) of the Agreement in lieu of delivery of the Convertible Preferred Stock underlying such Holder’s Applicable Ownership Interest in Convertible Preferred Stock, give us notice of the receipt of such payment and,
thereafter, you are instructed to, or instructed to cause the Securities Intermediary to, (A) deposit the separate cash received in the Collateral Account and, if applicable, invest such separate cash in Permitted Investments consistent with
the instructions of the Company as provided in Section 5.02(b)(vii) of the Agreement, (B) promptly release from the Pledge the Convertible Preferred Stock underlying the Applicable Ownership Interest in Convertible Preferred Stock related to
the Corporate Units as to which such Holder has paid such separate cash; and (C) promptly Transfer all such shares of Convertible Preferred Stock to us for distribution to such Holder, in each case free and clear of the Pledge created by the
Agreement. 

  
 Q-1 

			
	Please print name and address of registered Holder:	  	
		
	  
	  	  

	Name	  	 Social Security or other Taxpayer Identification Number, if any

		
	 Address
	  	

  

							
		 		  	 THE BANK OF NEW YORK MELLON TRUST COMPANY, NATIONAL ASSOCIATION, as Purchase
Contract Agent

		 		  	
	 	  	By:	  	  

		 		  		  	Name:
		 		  		  	Title:

 DATED:
                     

  
 Q-2 

 EXHIBIT R 

NOTICE OF SETTLEMENT WITH SEPARATE CASH FROM 

SECURITIES INTERMEDIARY TO PURCHASE CONTRACT AGENT AND COLLATERAL AGENT 

(Settlement with Separate Cash) 
 The Bank of New
York Mellon Trust Company, National Association, 
 as Purchase Contract Agent 

[Address] 
 HSBC Bank USA, National Association, 

as Collateral Agent 
 452 Fifth Avenue 

New York, NY 10018 
 Attention: Joseph Llorett 

Fax: (212) 525-1300 
  

	Re:	Corporate Units of Stanley Black & Decker, Inc. (the “Company”) 

Please refer to the Purchase Contract and Pledge Agreement, dated as of May 17, 2017 (the “Agreement”), among you and
the Company. Unless otherwise defined herein, terms defined in the Agreement are used herein as defined therein. 
 In accordance with
Section 5.02(b)(vii) of the Agreement, we hereby notify you that as of 5:00 p.m. (New York City time) on the Business Day immediately preceding the Purchase Contract Settlement Date, (i) we have received from
[        ] $[            ] in immediately available funds paid in an aggregate amount equal to the Purchase Price due to the Company on the Purchase
Contract Settlement Date with respect to [        ] Corporate Units and (ii) based on the funds received set forth in clause (i) above, an aggregate of
[            ] shares of Convertible Preferred Stock underlying related Pledged Applicable Ownership Interests in Convertible Preferred Stock are to be released from the Pledge and
Transferred to the Purchase Contract Agent. 
  

							
	Date:	 	  
	  	HSBC Bank USA, National Association, as Securities Intermediary
			
		 		  	  

		 		  	Name:
		 		  	Title:
		 		  	Authorized Signatory

  
 R-1

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